LifestyleMoneyWhy is crypto down today? Cryptocurrency market crash, China ban - prices of Bitcoin, Shiba Inu and Ethereum
Nelson primarily invests in low cost index funds because “I can see history on that,” she says. The newness of cryptocurrency and lack of trackable data make her wary of these crazy swings.
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Though both assets posted a quick recovery, the event has made a significant impact on the market. Bitcoin retraced by 7.4% a few hours after making a new all-time high at $67,000.
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Despite this, any lack of trust in Binance has a knock-on effect when it comes to how users perceive its U.S. platform, due to the close association of the two. On reliability, the U.S. platform comes out on top. This does not mean that either have a good reputation. Binance has work to do, and lots of it.
Harrison, who still owns SafeMoon, said that the developers have become more professional since the AMA incident: “They’re a bit more scripted, they sit down, they’re in suits.”
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SAN SALVADOR, El Salvador (AP) — Salvadorans trying to pay for a cup of coffee or receive money sent from relatives in the United States using the cryptocurrency bitcoin continued struggling to perform transactions Wednesday, a day after El Salvador made it legal tender.
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That lack of widespread adoption, plus crypto’s volatility, limits its use as a currency, says Roger Aliaga-Díaz, principal and senior economist with Vanguard Investment Strategy Group.
Zhao said the U.S. division won't initially launch in New York since it has not obtained a BitLicense (which is issued by the New York State Department of Financial Services) and neither has BAM, which is regulated by the U.S. Financial Crimes Enforcement Network (FinCEN). Coley, the CEO of BAM and Binance.US declined to comment on plans to apply for one.
China’s crackdown has delivered a windfall to international groups that mint digital tokens
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The SafeMoon crypto wallet has been drumming up excitement among users because the team has been adding support for more coins. SafeMoon’s Karony revealed that the wallet would see additional listings this week and asked his followers which coins they would like to see.
The Biden administration is taking steps to ensure Americans who pay for goods or services with cryptocurrencies don’t sidestep the tax man.
There are so many areas that Safemoon falls short. In products, there is so much competition that Safemoon receives from Bitrise cryptocurrencies. For example, the Safemoon wallet is considered inferior to the Bitrise dApp wallet.
The flag-wavers point to these and other concerns to warn that SafeMoon may not, in fact, be safe.