Binance has recently attracted regulator attention around the world. While Binance.US is a separate legal entity from the main Binance platform, it is 90% owned by Changpeng Zhao, who started and controls Binance.com, the world’s largest cryptocurrency exchange. The NYT said it was regulatory attention in the U.S. over money laundering and tax issues combined with the common ownership that concerned potential investors. GreatPoint Ventures confirmed to the NYT it considered investing and declined.
Bitcoin set another new all-time high Wednesday afternoon over $68,000. And then it promptly dropped down to below $65,000, where it remains Thursday morning.
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To avoid legal action, the creators dropped “West” from the name, changed the logo to a “half man, half fish hybrid” that resembles West — a biting reference to a “South Park” episode that pokes fun at West’s massive ego — and released Coinye as planned.
While its price swiftly dropped to below $65,000 after hitting the new all-time high Wednesday, Bitcoin’s latest new record is an impressive feat considering just a year ago the currency hovered around $15,000 per coin. Ethereum — the next most popular crypto — has seen a recent surge as well, and on Wednesday notched another new all-time high of its own above $4,800.
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Ethereum makes some noteworthy improvements to Bitcoin’s basic architecture. In particular, it utilizes “smart contracts” that enforce the performance of a given transaction, compel parties not to renege on their agreements, and contain mechanisms for refunds should one party violate the agreement.
But first, a word of warning: buying cryptocurrencies and decentralised finance tokens as well as stocks and shares is a risky business.
Brian was appointed Binance US CEO after his time as the Comptroller of the Currency. His appointment was in line with Binance strategy to employ regulatory professionals in key offices to help it end it tackle continued crackdown in the hand of regulators.
So what happened? And is there any hope for a recovery? To answer both, you have to look at quite a few factors.
A NEWLY launched cryptocurrency DogeZilla has exploded out of the gate – and some are wondering if this will be the next meme coin of preference.
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Three Bitcoin (BTC) on-chain indicators signaling a bullish end of the year Juan Pellicer · 4 days ago · 4 min read
BTC to BITO: the original cryptocurrency, and the promise and limitations of Bitcoin ETFs
In fact, every newly created blockchain copy comes with a two-part monetary reward: a fixed number of newly minted (“mined”) cryptocurrency units, and a variable number of existing units collected from optional transaction fees — typically less than 1% of the transaction value — paid by buyers.
Dogecoin has added nearly 3 percent over the last day and is priced at $0.28. In the last week, it has climbed over 2 percent.
Regulatory announcements can also affect the price of cryptocurrency in already volatile markets. Market volatility is why investing experts recommend keeping any cryptocurrency investments to less than 5% of your total portfolio and never invest anything you’re not OK with losing.
Any claims that a particular cryptocurrency confers total anonymity or immunity from legal accountability are worthy of deep skepticism, as are claims that individual cryptocurrencies represent foolproof investment opportunities or inflation hedges.