According to the Wall Street Journal, Zhao stated that he would be willing to step down as the CEO of Binance in order to resolve the company’s regulatory problems.
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How does this latest crash compare to previous ones, or even to regular stock market drops — and what does it mean for investors?
Binance has grown into the world's largest cryptocurrency exchange. During the month of May, Binance had spot trading volume of approximately $1.5 trillion, which was a 63% increase from April. As you can see in the image below, the volume traded on Binance is significantly higher than its closest competitors, Huobi and Okex.
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Not a huge amount is known about SafeMoon meaning the risk to your investment may be even higher.
Billionaire Elon Musk hasn’t gotten involved yet like he has with Dogecoin and Shiba, but that’s always a possibility.
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HUH Token has not been released onto the cryptocurrency market as of yet. This of course means that speculation will have to be made regarding its market price and the potential profit that a $1000 investment could make you.
Tokens have been created to use smart contracts or tokens as a form of currency. They do not have a blockchain and are used on decentralized applications (dApps).
Bitcoin’s new all-time high at $69,000 and Ether’s slow climb toward $5,000 are clear signals that bulls are in control and a hint that altcoins intend to follow.
Cryptocurrencies have seen an explosion in popularity since they rose to prominence in 2009 and there are now over two thousand in existence. Some of the ‘major’ cryptocurrencies include Bitcoin, Ethereum and Litecoin. These are among the most traded cryptocurrencies worldwide, with the largest market caps.
Bitcoin is widely regarded as the first modern cryptocurrency — the first publicly used means of exchange to combine decentralized control, user anonymity, record-keeping via a blockchain, and built-in scarcity.
The plunge occurred at 7:34 a.m. New York time, according to the Binance.US website. Volume on the exchange in that minute was 592.8 Bitcoin, which are worth just shy of $40 million at current prevailing prices.
Shibu Inu is a cryptocurrency token that allows users to hold trillions of them. Tokens of Shiba Inu feature the same dog as Dogecoin, which has become one of the most popular cryptocurrencies this year.
On Oct. 21, Binance.US suddenly printed a one-minute candle that took BTC/USD from $65,815 to $8,200 — a drop of 87%.
Of late, crypto prices have risen on the back of comments from billionaire Elon Musk and Ark Investment Management LLC's Cathie Wood.