Crypto prices have been on a tear for the past several months, but the past week has been the clearest sign of a correction to climbing prices, though many see news of President Biden’s adjustment to the hikes on the capital gains tax as the most apparent reason for the market’s slide as investors cash out hoping their gains won’t be reached by a retroactive application of the rules.
ArrowArtboardCreated with Sketch.ArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon PrintIcon Twitter Log out Your Account Log In Sign Up Cayman Islands-domiciled Binance is trying to beef up compliance as oversight of the cryptocurrency sector increases. © Reuters
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When formed by real members instead of bots—we’ll get to that in a second—these communities are unofficial and unpaid public relations departments continually working in favour of the reputation of the projects they support.
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Stambaugh, R. F., J. Yu, and Y. Yuan (2012), “The short of it: Investor sentiment and anomalies”, Journal of Financial Economics 104 (2), 288–302.
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The debacle was tinged with irony, coming just as Binance CEO Changpeng Zhao, also known as CZ, warned about incoming volatility.
A recent statement from President Joe Biden read: “Cyber threats can affect every American, every business regardless of size, and every community.”
But of course you'll want to be wary of another possible Squid Game fiasco, which reportedly scammed users of an estimated $3.38million.
In the meantime, the Indian government is considering a middle path on cryptocurrencies, as it finalises legislation on the virtual asset to be introduced in the upcoming winter session of Parliament. The hard-line stance for an outright ban of cryptos is not being found feasible in view of large investments in such instruments by Indians, and these unregulated virtual currencies are also unlikely to be allowed as a legal tender.
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"The U.S. has always been a very important market; globally it's one of the biggest markets for any business, including in cryptocurrency," he said. "We want to be fully compliant. Before we didn't feel we had the experience to do that but now we have our partners so we want to take this opportunity to explore the market."
Its market cap and individual unit value consistently dwarf (by a factor of 10 or more) that of the next most popular cryptocurrency. Bitcoin has a programmed supply limit of 21 million Bitcoin.
For 21 years, the software company Kaseya labored in relative obscurity — at least until cybercriminals exploited it in early July for a massive ransomware attack that snarled businesses around the world and escalated U.S.-Russia diplomatic tensions.
With the rise in artificial intelligence and automation, armies of trading bots can theoretically be used to push a crypto’s price up by creating an artificial demand for the coin. As always, you should do some research to make sure any crypto you’re thinking of investing in isn’t being artificially boosted by bots.
Cryptocurrency is a good investment if you want to gain direct exposure to the demand for digital currency, while a safer but potentially less lucrative alternative is to buy the stocks of companies with exposure to cryptocurrencies.