Other criticism of the founding team has come on the back of several promised developments of a Safemoon ‘ecosystem’ (including a bespoke wallet application) that have thus far fallen short of expectations.
There's a huge new pool of money that could be about to juice the bitcoin market, crypto ETF expert says
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What next for Shiba Inu (SHIB) following its 50% crash? Samuel Wan · 5 days ago · 2 min read
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Tokens in the liquidity pools are being reduced regularly using the buyback process. However, the buying and burning of tokens are automated. Bitrise cryptocurrency has become the first-ever to include automatic buyback with a real use case of payment systems. All other competing tokens, including Safemoon and Shiba Inu, are buying and burning tokens manually.
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One investor who wasn’t deterred was Barstool Sports Inc. founder Dave Portnoy. In May, he announced to his 2.6 million followers on Twitter that he’d bought $40,000 worth, despite saying that SafeMoon could be a Ponzi scheme, a scam in which early investors’ returns are paid with funds coming from later buyers that collapses when new deposits dry up or too many people try to cash out.
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Since the first digital currencies were devised after the financial crisis, $2.3tn has been invested in them. But how do they, and other assets transacted on blockchain technology, actually work? And what risks do they pose? Read our explainers
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The crypto community is witnessing impressive growth in the fourth quarter. With several altcoins rising out of the odds. Meanwhile, the dominance of the star crypto is at 41.4%. Numerous newer and lesser-known coins in the crypto industry are giving out impressive returns, leaving out top-tier coins behind the dust.
Immediately after the platform went live, Binance.US also launched its Referral Program with a range of rewards being available to the customers and their referees under certain requirements.
"It is one of many schemes by which naïve retail investors are drawn in and exploited by malevolent crypto promoters," Cornell University economist Eswar Prasad told the BBC.
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This gives sellers an incentive to charge transaction fees, since they get paid faster by doing so, and so it’s fairly common for cryptocurrency transactions to come with fees.