According to an article in yesterday’s New York Times (NYT), Brian Brooks departed the CEO position at Binance.US when a $100 million venture capital funding fell through. He’d been in the position for just over three months.
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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.
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Despite its size and name recognition, Binance has had issues with regulators. In 2017, Binance left China and re-located to Japan and Taiwan before eventually moving to Malta. However, in February 2020, after Malta announced that Binance was not actually within its jurisdiction, the exchange quickly changed positions and declared that it doesn’t have a headquarters because Bitcoin doesn’t have a central headquarters.
Coinye was developed under the original moniker “Coinye West” in 2013, and identified by an unmistakable likeness of hip-hop superstar Kanye West. Shortly before Coinye’s release, in early 2014, West’s legal team caught wind of the currency’s existence and sent its creators a cease-and-desist letter.
GARY GENSLER: This asset class is rife with fraud, scams and abuses in certain applications. There's a great deal of hype and spin about how crypto assets work.
But it wasn’t just outside pessimism that led to the slump, but infighting as well. Blockchains are decentralized, and democratic systems require buy-in from participants in order to keep the engines running. When there’s a schism that can’t be decided by the majority, all hell breaks loose.
Competing and bracing in the tough markets, SafeMoon is a cryptocurrency that refuses to bow down to central government pressures or be chained in defective and regulatory monetary shackles. SafeMoon has made it possible for everyone to store and transfer value in a currency that is resistant to manipulation.
Billed as the mother of all cryptocurrencies, Bitcoin which is a decentralised digital currency was created by someone called Satoshi Nakamoto (possibly a pseudonym) in 2009. As with most cryptocurrencies, Bitcoin is without a central bank or single administrator that can be sent from user to user on the peer-to-peer Bitcoin network without the need for intermediaries. Transactions are verified by network nodes through cryptography and recorded in a public distributed ledger called a Blockchain, according to IANS report.
HUH Token is currently in its presale stage and has no official release date as of yet, the creators have stated that it will be soon. The main question investors have is, which of these cryptocurrencies will turn their $1000 into much more? After examining both SafeMoon and HUH Token, these are some of the conclusions that have presented themselves
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Crypto-marketing. A scheme in which promoters of securities tied to cryptocurrencies recruit investors to pitch the investments, often to friends and family and through social media and blogs. In return, these investors are promised a generous return plus the promise of commissions on their sales.
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And, while it has big ambitions, its current market value is someway below the $1 dollar threshold - but has experienced a steady increase in price since its launch.
The market for cryptocurrencies has roughly quadrupled from its 2020 year-end value [File: Paul Yeung/Bloomberg]