Brooks did not respond to requests for further comment. A spokesperson for Binance declined to comment.
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You can't ever determine how long or how far up a speculative investment can go, and you tend to be very shocked at how much it falls
“It was almost like you just gave a 21-year-old a million dollars,” Harrison said. “I get it — they were excited to be so popular.”
SafeMoon technically isn't a cryptocurrency but a DeFi token, according to its website.
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Elon Musk’s announcement that Tesla would no longer be accepting Bitcoin as payment on environmental concerns was followed by China issuing a crypto crackdown.
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One of the key principles of smart investing is: Never invest in anything you don't understand.
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Musk’s decision signifies a sharp u-turn for Tesla who only started accepting Bitcoin as payment for its services in February 2021.
(Bloomberg) -- To investors hunting for the next Dogecoin, the more than 19,000% price gain that cryptocurrency SafeMoon posted in its early weeks was like catnip. Though the price of the four-month-old token has dropped since then, more than 2.4 million investors have bought it, according to its developers.
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Pa´stor, L. and P. Veronesi (2003), “Stock valuation and learning about profitability”, The Journal of Finance 58 (5), 1749–1789.