SILVER SPRING, Md. (AP) — The chairman of the Securities and Exchange Commission said that investors need more protection in the cryptocurrency market, which he said is “rife with fraud, scams and abuse."
"It is one of many schemes by which naïve retail investors are drawn in and exploited by malevolent crypto promoters," Cornell University economist Eswar Prasad told the BBC.
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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.
It was a wild ride for SafeMoon, with its prices exploding in the first few weeks before crashing down.
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As of Wednesday 9 AM (GMT+3) November 10th, here are the prices of the top 10 cryptocurrencies:
Bitcoin was trading 3.7% higher Friday morning. The price was around $61,200 per coin.
The Bank of England's Sir Jon Cunliffe raises concerns about the financial stability risk of cryptocurrencies.
BOSTON, November 11, 2021--Save on Generac deals at the early Black Friday 2021 sale, including the latest home stand-by generator savings
Binance.US formed in 2019 after Binance stopped accepting U.S. investors. The interface and many features are the same, but there are differences such as the amount of cryptocurrencies available to trade in the U.S. vs. elsewhere, as well as which states Binance.US is allowed to operate in. United States users cannot buy crypto using the international Binance platform.
These are just some of the reasons Bitrise crypto coin has hit the $200m market cap so fast. The token has exciting features that are appealing to thousands of crypto investors. With the upcoming staking process and launch of the revenue sharing program, the coin's market cap is projected to jump even higher.
Under Brooks' leadership at OCC, the regulator issued guidance regarding banks' use of stablecoins and blockchains, as well as an interpretive letter clarifying that national banks are allowed to provide cryptocurrency custody services.
OMAHA, Neb. (AP) — Nebraska banks that want to cash in on the cryptocurrency tech craze could start offering services to customers who own Bitcoin and other digital assets under a bill backed by Monday state lawmakers...
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