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Yet tales of meme-coin holders becoming millionaires have attracted new waves of retail investors to crypto -- along with a growing number of nefarious players. In May, the Federal Trade Commission tallied a record number of crypto investment scams, with Americans’ losses totaling around $80 million since October.
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Bitcoin was trading 2% higher Wednesday morning. The price was around $62,800 per coin. Burger King, Robinhood serving up 'side of crypto' with Bitcoin, Dogecoin, Ethereum giveaway
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Of course, in order to diversify, a customer needs to be able to trade a wide variety of altcoins. When it comes to cryptocurrency listings, Binance is the undisputed king. But how does Binance.US measure up?
Binance CEO Changpeng Zhao insisted that the long-term pay-off will be worth any compromise.
However, exchange pricing can still be extremely volatile. For example, Bitcoin’s U.S. dollar exchange rate fell by more than 50% in the wake of Mt. Gox’s collapse, then increased roughly tenfold during 2017 as cryptocurrency demand exploded.
Bitcoin is increasingly viewed as a legitimate means of exchange. Many well-known companies accept Bitcoin payments, although most partner with an exchange to convert Bitcoin into U.S. dollars before receiving their funds.
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An early-morning error led to the value of Bitcoin dropping nearly 87 percent on Binance's crypto exchange.
"Some of the NFT collections had bounced by 50-60% in the past few days, which indicates a possible reversal in the coming weeks," he added.
What are the challenges facing IT firms as employees return to office? Is crypto too mainstream in India to be banned? Is it ... Coinbase slumps after reporting lower-than-forecast revenue of $1.24 bn
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The tecg titan said it wanted to create a separate, private currency system to allow users to make cross-border payments more easily.
New workplaces, new food sources, new medicine--even an entirely new economic system
The blockchain thus prevents double-spending, or the manipulation of cryptocurrency code to allow the same currency units to be duplicated and sent to multiple recipients.
ELIZABETH WARREN: Right now, our regulators and frankly our Congress is an hour late and a dollar short, and we need to catch up with where these cryptocurrencies are going.