Beijing's crackdown on cryptocurrency sends bitcoin entrepreneurs moving to the wild wild west.
The phenomenon has occurred more frequently in recent days, with Bitstamp also seeing freak order-book events.
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(Views and recommendations given in this section are the analysts' own and do not represent those of ETMarkets.com. Please consult your financial adviser before taking any position in the asset/s mentioned.)
Mining. The process of applying high amounts of computing power to solve complex equations that verify transactions in a virtual currency. Miners who solve the equations are awarded new units of the virtual currency.
These are just some of the reasons Bitrise crypto coin has hit the $200m market cap so fast. The token has exciting features that are appealing to thousands of crypto investors. With the upcoming staking process and launch of the revenue sharing program, the coin's market cap is projected to jump even higher.
However, investing in a crypto ETF, like BITO, still carries the same risk as any crypto investment. It’s still a speculative and volatile investment. If you’re not willing to lose the money you put into crypto by purchasing on an exchange, then you shouldn’t put it in a crypto fund either. Carefully consider if you’re willing to take on the risk of having cryptocurrency in your portfolio at all.
Brian Brooks, incoming CEO of crypto exchange Binance.US, tells CNN's Julia Chatterley that "at a certain point, finance will have migrated out of the analog age and into the digital age." He weighs in on Dogecoin, Coinbase, and regulation.
Brooks, who was acting US Comptroller of the Currency from May 2020 to January 2021, joined Binance US as chief executive officer at the beginning of May. Prior to joining the regulator, Brooks had been Chief Legal Officer of Coinbase Global. During his time as acting Comptroller, Brooks led efforts to provide regulatory clarity for stablecoins and digital asset custody.
Going forward, it's impossible to know for sure how the value will change and whether it could rise further.
With the rise in artificial intelligence and automation, armies of trading bots can theoretically be used to push a crypto’s price up by creating an artificial demand for the coin. As always, you should do some research to make sure any crypto you’re thinking of investing in isn’t being artificially boosted by bots.
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"There are a lot of things in flux, but I would say [we'll launch] in a month or two," Zhao, better known as CZ, told Cheddar in an interview Wednesday.
And that, we regret to inform you, has led to some rather silly thinking (highly unusual in the crypto community, we know), specifically of the chart-crime variety:
In June, the Chinese Government cracked down on considerable crypto mining operations taking place in the Sichuan province and demanded that Chinese banks and payment channels stop supporting decentralised and anonymous crypto transactions.
Overall, Coinmarketcap estimates the global crypto market has shrunk around 10% in the past 24 hours.
BRUSSELS (AP) — The Daily Stormer website advocates for the white race, posts hate-filled, conspiratorial screeds against Blacks, Jews and women and has helped inspire at least three racially motivated murders.