If an investor believes in the technology-backed digital currency, then cryptocurrency should be his cup of tea. Just a decade-old asset class, it has yielded astronomical returns over the years. Some investors look to use these digitally coded tokens to hedge against inflation. Despite high volatility and speculations, there are multiple reasons that they can become mainstream in the coming future.
Despite the new record high, Bitcoin is still a highly volatile and speculative investment. In fact, the last time the crypto saw a record high in mid-April, it abruptly lost over half of its value and plunged to around $30,000 by mid-July.
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Brooks, who was acting US Comptroller of the Currency from May 2020 to January 2021, joined Binance US as chief executive officer at the beginning of May. Prior to joining the regulator, Brooks had been Chief Legal Officer of Coinbase Global. During his time as acting Comptroller, Brooks led efforts to provide regulatory clarity for stablecoins and digital asset custody.
It came after the electric car company bought $1.5b (£1.06b) of Bitcoin shares, which in turn sent the market price of both the crypto and Tesla soaring.
This list by no means final, as Binance.US designates it as “Phase 1” digital asset offering, promising to support a wider range of cryptos down the line. The platform hopes to garner broader support in the US by enabling trading USD for popular cryptocurrencies.
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Latest Crypto News: Bitcoin and Ethereum Hit New All-Time Highs, Biden Administration Releases Report on Stablecoins
Jack Purdy, a senior research analyst at crypto analysis firm Messari Inc., said that while he didn’t know how risky SafeMoon might be, its website makes it clear that it’s designed to get investors to buy and hold to “earn passive rewards through static reflection as they watch their balance of SafeMoon grow indefinitely.”
Facebook’s closely guarded Libra project could be the first true cryptocurrency alternative to fiat currencies, although its growing pains suggest that true parity remains well in the future.
But the hacks didn’t stop. In 2016, the DAO–a blockchain organization that was based on Ethereum–lost what was worth $50 million at the time, due to a technical error someone seized upon. This, once again, sent shockwaves through the community–but also had the unfortunate impact of normalizing these types of hacks for some people.
Business News›Markets›Cryptocurrency›Top cryptocurrency prices today: Cardano, Polkadot, Dogecoin shed up to 5%
Even though many coins are on an uptrend, Bitrise is worth considering as thousands of Shiba Inu and Safemoon holders have joined since its release.
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The SafeMoon Protocol is a community driven, fair launched DeFi Token. Three simple functions occur during each trade: Reflection, LP Acquisition, & Burn.
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