Essentially it is very hard to tell which firms are real and which ones are scammers.
Additionally, cryptocurrencies are frequently used to facilitate gray and black market transactions, so many countries view them with distrust or outright animosity.
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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.
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Amid rising inflation, the Federal Reserve and the Biden administration continue to message that the situation is “under control,” but equities markets reacted negatively to the news.
NEW BUSINESS: Binance.US, the American arm of the world’s largest cryptocurrency exchange, hired its first lobbying firms last month, newly filed disclosures show, as policymakers in Washington face calls to rein in the rapidly growing and mostly unregulated industry. Hogan Lovells’ Ivan Zapien, a Democratic lobbyist who previously was chief of staff to now-Senate Foreign Relations Chair Bob Menendez (D-N.J.), and former House GOP aides Aaron Cutler and Chase Kroll will lobby for the exchange.
Musk’s decision signifies a sharp u-turn for Tesla who only started accepting Bitcoin as payment for its services in February 2021.
If you’re investing in cryptocurrency, expect volatility to continue. That’s why experts recommend keeping your crypto investments to less than 5% of your total portfolio.
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.
Leading Audio Platform, Pinna, Announces New Podcast Series in Collaboration with Kindness Factory and Kaplan
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Binance begins to restrict US users ahead of regulatory-compliant exchange launch
Business News›Markets›Cryptocurrency›Top cryptocurrency prices today: Solana, Binance Coin fall; XRP jumps 9%
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