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.
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Bitcoin, Ether Crypto Coins Surge to New Highs Before Correction, Shiba Inu, Dogecoin Slip Continues
Profit-booking near the resistance line pulled the price back toward the critical level at $49.54 on Nov. 9. The strong rebound off this level on Nov. 10 suggests that bulls are defending this level with vigor.
As far as payment for assets goes, platforms offer crypto purchases via bank transfers, crypto transfers, or credit cards, depending on the platform. Buying crypto with cash in a person-to-person fashion is also possible. Availability for buying and selling crypto on any given platform, however, can vary from region to region.
Disclosure: At the time of writing, the author of this feature owned BTC and ETH.
WARREN DAVIDSON: The industry is basically pleading, give us some regulatory clarity.
There's a huge new pool of money that could be about to juice the bitcoin market, crypto ETF expert says
In 2017, Changpeng Zhao (also known as CZ), founded Binance. Zhao’s background includes developing high frequency trading software as well as working as an executive at another cryptocurrency exchange, OKCoin.
Binance U.S.’ trading algorithm suffered from a bug that resulted in a Bitcoin flash crash on Oct. 21. Although prices recovered quickly, both cryptocurrencies are now trying to hold support to avoid further losses.
Disclaimer: The views and opinions expressed by the author should not be considered as financial advice. We do not give advice on financial products.
SHIBA Inu coin was up in the early hours of Thursday as Bitcoin fell after fears of a "crash".
Fun StuffRussell Alexander was wrongly advised he could keep the money and even bought a house.
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The image of two-year-old Chloe Clem making a disapproving face was auctioned in cryptocurrency.
Of late, crypto prices have risen on the back of comments from billionaire Elon Musk and Ark Investment Management LLC's Cathie Wood. In late July, Elon Musk said Tesla was "most likely" to start accepting bitcoin as payment again. The comment helped the cryptocurrency race past the $30,000 level.
Meanwhile, apart from regulatory attention, Binance is likely to get sued over a platform outage during a price crash on May 19. A Swiss crypto fund is financing litigation and a UK academic has made various allegations based on her research.