New York City Mayor-elect Eric Adams pledged Thursday that he would accept his first three paychecks in bitcoin when he formally takes office next year.
In the last 24 hours, Bitcoin has gained around 3 percent and is trading above $67,000. The crypto has added over 10 percent in the past week.
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GURA: Lummis' approach to regulation puts her at odds with another outspoken member of the Senate Banking Committee. That's Democrat Elizabeth Warren, who wants tougher rules. Cryptocurrency has become a popular investment, but it's also gotten a bad name because of how it's being used for money laundering and in ransomware attacks. Warren told Bloomberg TV, cryptocurrency is like the Wild West.
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Yang’s set it and forget it approach to crypto reflects his philosophy for investing in the traditional stock market, but some experts feel cryptocurrency is too different from traditional investments to draw any historical comparisons. That’s why A’Shira Nelson of Savvy Girl Money is staying well away.
Using vast amounts of computing power, often manifested in private server farms owned by mining collectives that comprise dozens of individuals, miners use highly technical methods to verify the completeness, accuracy, and security of currencies’ blockchains.
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It seems all too fitting that Facebook’s plans to launch a digital coin were leaked in the second-to-last week of a year that saw the tech giant’s reputation pummeled and cryptocurrencies crash and burn. It’s like grilling a shit sandwich over a dumpster fire.
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"Nowadays new coins can be listed on decentralised exchanges on the first day they are created, without any regulation or due diligence," said Jinnan Ouyang from Singapore-based crypto company Openmining.
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Additionally, cryptocurrencies are frequently used to facilitate gray and black market transactions, so many countries view them with distrust or outright animosity.
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Baker, M. and J. Wurgler (2006), “Investor sentiment and the cross-section of stock returns”, The Journal of Finance 61 (4), 1645–1680.