Responding to regulatory pressure, Binance has curbed some services on cryptocurrency bets, highly leveraged positions and trading with tokens linked to shares, and has pledged to beef up its compliance staffing.
But what is SafeMoon and why has it garnered such an interest? And is it something you should look out for?
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Ir says: “Obviously, it is not a 100% fool-proof method because that simply doesn't exist in this space, but reducing risk to the highest degree is the purpose of Vault.”
SafeMoon is still a relatively new cryptocurrency compared to others, having only launched in March 2021.
Lance Bass on learning to say no and squeezing in self-care as a new dad of twins
Another institutional hit for bitcoin–which probably had the most sustained effect–was the SEC’s refusal to approve a bitcoin exchange-traded fund (ETF). This would be a path for more mainstream people in finance to dabble with blockchain; it would allow investors to dip their toes in bitcoin without owning the actual asset. Not only that, but it would make bitcoin available on the most prominent financial markets. The U.S. Securities and Exchange Commission (SEC), however, has yet to allow such a fund to exist–mostly because it is unable to monitor crypto-transactions in order to avoid market manipulation.
It's working: in just the past few months, we took down 1.7 billion fake accounts to stop bad actors from doing harm.
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.
Brooks quit his role at San Francisco-based Binance.US, citing "differences over strategic direction" in the Twitter post. He worked only three months at the company, which is the American counterpart to Binance — the Chinese company that operates the largest cryptocurrency exchange by volume.
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And while Karony said he wasn’t sure what to make of Portnoy’s tweet, he was appreciative. “It’s cool to see big names talking about SafeMoon because it means more people are hearing about SafeMoon,” he said.
The SafeMoon wallet, which is live on iOS has seen over 600,000 downloads. And the SafeMoon holders count has surpassed the 2,850,000 milestones. Meanwhile, the SafeMoon Exchange aims to bring tokenomics to all of the cryptos on its platform, which is in the pipeline. The makers refer to it as “Cryptonomics”. SafeMoon ranks among the top De-Fi projects by social activity as of 04th November 2021.
Binance CEO Changpeng Zhao insisted that the long-term pay-off will be worth any compromise.
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