Everything you need to know about bitcoin, blockchain, NFTs and more. Plus, the latest cryptocurrency news, interviews and investing guides.
“YOU’VE CRASHED #SAFEMOON THERES NO OTHER WAY TO SAY IT. WE WILL UPDATE YOU AS SOON AS POSSIBLE […] WE CAN’T WAIT TO HAVE YOU ALL HOME SOON…”
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(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.
One investor who wasn’t deterred was Barstool Sports Inc. founder Dave Portnoy. In May, he announced to his 2.6 million followers on Twitter that he’d bought $40,000 worth, despite saying that SafeMoon could be a Ponzi scheme, a scam in which early investors’ returns are paid with funds coming from later buyers that collapses when new deposits dry up or too many people try to cash out.
From the rise of meme stocks to the increasing mainstream adoption of crypto, Wall Street has embraced once-fringe areas of investing and finance.
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Like traditional currencies, cryptocurrencies express value in units — for instance, you can say “I have 2.5 Bitcoin,” just as you’d say, “I have $2.50.”
The majority of cryptocurrencies function without the backing of a central bank or government. Instead of relying on government guarantees, decentralized technology called blockchain underpins the operation of cryptocurrencies.
Popular cryptocurrencies such as Bitcoin and Ethereum are built on blockchain technology. Blockchains like Bitcoin and Ethereum are constantly growing as new blocks are added to the chain, increasing the security of the ledger dramatically.
There's already a meme coin named after Elon Musk's new Twitter handle - and it jumped 825% in its 1st day of trading
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Enforcement Director Joe Rotunda discusses fraud in crypto-related securities offerings:
Coinbase falls 11% after the crypto exchange misses Wall Street's 3rd-quarter earnings expectations
In May 2021, at the Ethereal Virtual Summit, CZ reiterated his stance that Binance has no central headquarters when he said the following:
The law also states that tax contributions can be paid via Bitcoin and exchanges in the cryptocurrency will not be subject to capital gains tax.
There’s already been a major breakthrough on this front, with the first Bitcoin ETF recently making its debut on the New York Stock Exchange. The development represents a new and more conventional way to invest in crypto. The BITO Bitcoin ETF allows investors to buy in on cryptocurrency directly from traditional investment brokerages they may already have accounts with, like Fidelity or Vanguard.
The next phase in the crypto mining process is to compile a list of all transactions, which is subsequently included in a new unconfirmed data block. It avoids “double spending” of any cryptocurrency and keeps a permanent and public record by adding their transaction to the blockchain, once the verification procedure is complete. The record is immutable, which means it can never be changed or corrupted.