The former head of the Office of the Comptroller of Currency (OCC), Brian Brooks, resigned as CEO of Binance.US last week, The Wall Street Journal reported Friday, citing a post from him on the social media platform Twitter. Brooks had only recently joined the company in the role on May 1.
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At the moment, it is too early to say if Binance.US will employ security technologies from the global Binance platform which are usually described as being solid, despite a major hack this platform suffered in May 2019. Yet, the platform also responded to this incident in a generally well-received and timely manner.
Some experts say this is high risk as SafeMoon’s success relies heavily on more and more people buying the currency to keep the price up.
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Meanwhile, Ethereum also hit a record — rising to $4,837.59, according to CoinMarketCap.
It was a wild ride for SafeMoon, with its prices exploding in the first few weeks before crashing down.
Yet some crypto watchers have raised red flags over SafeMoon’s unusual structure. It charges a 10% fee to buy tokens and another 10% to sell -- almost unheard of in the digital currency world. Half of these fees are paid to owners as an incentive to keep holding and the other half goes into a liquidity pool controlled by the developers. SafeMoon calls itself a DeFi token, or one that uses decentralized finance to govern functions through software, but it has a chief executive officer and chief operating officer. Critics also worry about the discretionary nature of the “manual” coin burns used to adjust its circulation.
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The team, dubbed Twitter Crypto, will serve as a "center of excellence" for all things blockchain at the social media giant and will be "setting the strategy for the future of crypto at and on Twitter."
Cryptocurrencies are seen as an alternative to traditional banking methods, cheaper to move money around due to not being regulated by the government or its banks.
SafeMoon is still a relatively new cryptocurrency compared to others, having only launched in March 2021.
When bitcoin was rising last year, it seemed like a trend everyone from your grandmother to your barista was suddenly becoming hip to. Of course plenty of folks cautioned that it could be a bubble, but it’s always hard to realize such a thing when you’re in the midst of it. It’s free money, right? Why not get in on it? (Just don’t remortgage your house!)
As explained in its roadmap, the SafeMoon team hope to begin a "community listing donation raise for several exchanges" in Q3 2021. As of July 21, this has not yet started.
SafeMoon is also preparing to launch a cryptocurrency exchange, which apparently is not tied to V2.
Now I'll turn the call over to Christine Greany of Blueshirt Group to begin. With us today on the call are Kosta Kartsotis, chairman and CEO; Jeff Boyer, chief operating officer; Sunil Doshi, chief financial officer; and Greg McKelvey, EVP and chief commercial officer. Cryptocurrencies Price Prediction: Litecoin, SafeMoon & Cardano — Asian Wrap 27 Oct Cryptos | 10/27/2021 12:46:50 AM GMT Litecoin favors a 20% upswing while LTC bulls remain elusive
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