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The cryptocurrency market woke up to a shock in early trading on Thursday morning. On the Binance US cryptocurrency exchange, the value of Bitcoin (BTC) plummeted nearly 87 percent in value, settling around $8,200. The issue that caused the value spike was reportedly corrected swiftly and the Bitcoin value returned to its normal levels within a couple of minutes.
In the U.S., Binance has been the subject of an investigation by the Commodity Futures Trading Commission, which is probing whether the platform allowed users to trade derivatives, Bloomberg reported in March, citing sources familiar with the matter. The CFTC investigation is directed at Binance, even though Americans must use Binance.US instead. And in May, the Department of Justice and Internal Revenue Service commenced money laundering investigations related to the company.
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US consumer prices rise at fastest pace in three decadesElectric vehicle start-up Rivian soars on stock market debutMcKinsey partner accused of insider trading on Goldman Sachs dealElon Musk offloads nearly $5bn in Tesla sharesUS government debt sells off sharply on inflation surge
Miners’ work periodically creates new copies of the blockchain, adding recent, previously unverified transactions that aren’t included in any previous blockchain copy — effectively completing those transactions.
Cryptocurrencies are wholly digital, so there’s no physical coin or bill connected to the crypto you own. Instead, owners hold cryptocurrency in a digital wallet, and buy or sell through an online exchange. Your wallet may be online (some popular exchanges like Coinbase offer an in-app wallet) or stored offline on a hardware device similar to a USB drive.
Specifically, “5% Holder Rewards are dispersed to all token holders relative to their holding percentages,” DogeZilla claims.
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Bitcoin plunged to as low as $8,200 on Binances U.S. exchange from around $65,000.
A Sesame Street special titled "The ABCs of COVID Vaccines" shows muppet Rosita getting her first COVID-19 shot.
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The new team, called Twitter Crypto, is aimed at being the center of excellence for "all things blockchain and web3," Financial Times reported.