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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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He was referring to the stringent regulation that forced most cryptocurrency exchanges to deploy separate trading platforms for U.S. customers only. Consequently, American crypto traders tend to operate on less liquid cryptocurrency exchanges.
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A further blow was dealt when China ordered Bitcoin mining in its Sichuan province to shut down completely and furthermore told banks to stop supporting crypto transactions, in a latest wave of restrictions on cryptos.
"Brian's work for Binance.US has been invaluable and we hope he will continue to be an integral part of the crypto industry’s growth, advocating for regulations that move our industry forward," Zhao Tweeted on Friday.
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Investors should continue to hold and not worry about the fluctuations, like Danial, who says she’s not “jumping on the hype.”
One finding based on the CivicScience study showed that around 11% said they or someone they know have resigned from their jobs due to crypto trading.
New short-term investors who are selling their holdings in reaction to the drop may be influencing the continued dip in Bitcoin’s value, according to a recent report from Glassnode Insights, a blockchain analysis firm.
Cryptocurrency prices continued to tumble Friday with Bitcoin leading the charge, with prices for the internet currency dipping below $50,000 for the first time since early March.
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— Meanwhile, Rover, the pet care site sometimes referred to along with its competitor Wag as the Uber of dog walking, has retained Mercury Public Affairs as its first outside lobbying firm. Mercury’s Mike McSherry, an alum of the RNC, Republican Governors’ Association and Labor Department, will lobby for Rover on tax and labor classification issues — a development that comes as the Biden administration has pledged to recognize workers dispatched by apps as employees rather than contractors. Gig companies are also facing new tax reporting requirements beginning next year, thanks to the coronavirus stimulus bill signed into law by President Joe Biden in March.