Hut 8 Achieves Third Consecutive Record-Breaking Quarterly Revenue in Q3-2021; Surpasses 5,000 Bitcoin Held in Reserve
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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This week, Binance announced it is pairing up with BAM Trading Services — which Coindesk notes is FinCEN-registered and has links to Koi Compliance, which counts Binance as an investor — to launch a U.S. exchange “soon.” That will mean, however a level of disruption for some U.S. customers in the meantime.
A cryptocurrency transaction technically isn’t finalized until it’s added to the blockchain, which usually occurs within minutes. Once the transaction is finalized, it’s usually irreversible.
Binance has recently attracted regulator attention around the world. While Binance.US is a separate legal entity from the main Binance platform, it is 90% owned by Changpeng Zhao, who started and controls Binance.com, the world’s largest cryptocurrency exchange. The NYT said it was regulatory attention in the U.S. over money laundering and tax issues combined with the common ownership that concerned potential investors. GreatPoint Ventures confirmed to the NYT it considered investing and declined.
LUMMIS: We want the innovators to innovate. We want to create a space where the United States is the leader in opportunity for the creation and use of digital assets.
“Regulation is probably one of the biggest overhangs in the crypto industry globally,” says Jeffrey Wang, head of the Americas at Amber Group, a Canada-based crypto finance firm. “We would very much welcome clear regulation.”
SHIBA Inu coin was up in the early hours of Thursday as Bitcoin fell after fears of a "crash".
Research shows the US taking the top spot for global mining following a crackdown in China.
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On the contrary, if the price rebounds off the breakout level, it will suggest that bulls are buying on dips. The pair could then rally to the overhead resistance at $2.47. This is an important resistance for the bears to defend because if it cracks, the pair could rise to $2.80.
WARREN DAVIDSON: The industry is basically pleading, give us some regulatory clarity.
Bitcoin ETFs, once considered a pipe dream, are now a reality giving investors more avenues to invest in cryptocurrency.
When Bitcoin’s price exploded in late 2017, so did the interest of the general public in cryptocurrencies. Internet searches for Bitcoin, cryptocurrencies, and crypto prices skyrocketed. Many people weren’t able to resist the fear of missing out on the massive gains the early adopters were experiencing as crypto prices rose quickly. When the inevitable correction came and crypto prices fell, those who bought towards the end of the bull run immediately saw the value of their holdings halved. Despair and anguish followed, but the enthusiasm of the crypto community hasn’t faltered.
WASHINGTON (AP) — With inflation at its highest point in three decades, the Federal Reserve is set this week to begin winding down the extraordinary aid it has given the economy since the pandemic recession struck early last year, a process that could prove to be a risky balancing act.