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.
“Everybody’s definition of a headquarters of a company is different. When you ask how you define a headquarters --- is that an office where people sit? I worked from home for the last three and a half years. Our leadership team are not sitting in one office, we don’t have a clear place where we can go, by most people’s normal definitions of a headquarters that we can call a headquarters. So, when people ask me, I don’t want to give them a wrong answer just to satisfy their definition.”
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Based on a mathematical and scientific blockchain algorithm, it is highly unlikely that SafeMoon gets hacked. As owners of SafeMoon, you are anyway masters of your wallet, and hence safekeeping thereof falls in your periphery of accountability.
Bartram, S. M. and M. Grinblatt (2018), “Agnostic fundamental analysis works”, Journal of Financial Economics 128 (1), 125–147.
— Patrick Uzcategui is now an government relations associate at Sylvamo, a new spinoff company from International Paper Company. He was previously government affairs coordinator at Tyson Foods.
Mr Karkhalev added: "The growth in the capitalisation of the Bitcoin crypto market has also aided confidence.
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At IG, our markets for bitcoin, bitcoin cash, ether and litecoin are quoted against the US dollar. This is how you’ll usually see these cryptocurrencies quoted elsewhere, too.
Very generously our tweeter credits another crypto fanatic for the remarkable analysis, who had drawn up his own chart just days earlier:
New York City Mayor-elect Eric Adams pledged Thursday that he would accept his first three paychecks in bitcoin when he formally takes office next year.
FACEBOOK WHISTLEBLOWER GOES PUBLIC: “The former Facebook Inc. employee who gathered documents that formed the foundation of The Wall Street Journal’s Facebook Files series said she acted to help prompt change at the social-media giant, not to stir anger toward it,” the Journal’s Jeff Horwitz wrote in a profile of Frances Haugen, a former product manager hired to help protect against election interference on the platform. She “said she had grown frustrated by what she saw as the company’s lack of openness about its platforms’ potential for harm and unwillingness to address its flaws. She is scheduled to testify before Congress on Tuesday. She has also sought federal whistleblower protection with the Securities and Exchange Commission.”
“It’s easy to get carried away, but such aggressive growth is highly unlikely to continue forever.”
SafeMoon is not yet listed on Coinbase or Binance. However, the currency does hope it will achieve this in the future.
That seems to be the overall message from most. Even Innes, who has been critical of bitcoin and crypto-trading for quite a while, admits that this doesn’t mean the blockchain is bunk. He, in fact, sees things looking up. “If this base can hold,” he says, “[the price will] start drifting up.” But not because of fervor or blind faith that bitcoin is the future, but due to advances on the technology side.
Brooks did not respond to requests for further comment. A spokesperson for Binance declined to comment.
And cryptocurrency exchanges are somewhat vulnerable to hacking, representing the most common venue for digital currency theft by hackers and cybercriminals like those responsible for taking down Mt. Gox.