COINBASE may soon eclipse Bitcoin in the crypto space.
“Coinbase brings a different level of credibility to the space, being the only publicly listed company in the cryptocurrency industry,” AMBCrypto reported.
Meanwhile, in a Twitter poll, users agreed that Dogecoin should be accepted at AMC.
“SO FASCINATING! Dogecoin Poll was by far my highest ever read tweet,” the company CEO wrote on Twitter.
“In 24 hours, 4.2 million views, my most ever retweets, most ever replies. 140,000 votes 77% yes 23% no. It’s clear that you think AMC should accept Dogecoin.”
“Now we need to figure out how to do that. Stay tuned!”
Read our cryptocurrency live blog for the latest news and updates…
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CRYPTO AUDIO STREAMING
Audius is a crypto-powered music streaming platform.
It’s owned and controlled by token holders and its tokens are called Audio.
According to Audius, more than 5.3million people have used the platform this month.
Audio has been listed on CoinMarketCap since October 2020, and has rocketed in value following a deal with Chinese-owned social media giant TikTok.
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WHAT IS BINANCE COIN?
Binance Coin was launched in 2017.
It was set up by cryptocurrency exchange Binance, which is the world’s largest crypto platform.
Binance Coin operates with the ticker BNB and can be purchased on the Binance exchange as well as on other platforms such as eToro.
The coin was first launched for Binance users to get discounted trading fees, but now can be used to pay transaction fees on Binance and to pay for items on websites such as Crypto.com.
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EXPERT COMMENTS ON TETHER’S VALUE
Despite its claim to be a stablecoin, Tether has still witnessed spikes and sharp falls in price, Susannah Streeter, senior investment and markets analyst at Hargreaves Lansdown, noted in May.
She told The Sun: “It has also been criticized for a lack of transparency, has had to settle US lawsuits, and trading in the currency is banned in the state of New York.”
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WHO FOUNDED ALCHEMY PAY?
The cryptocurrency was co-founded by payments industry veterans Molly Zheng, Shawn Shi and John Tan.
Trading for Alchemy Pay first began in September 2020.
According to Alchemy Pay, it is the “world’s first” hybrid crypto and fiat payment gateway.
Through Alchemy Pay, users are allowed to receive payments in the local currency of their choice, regardless of how it is sent.
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WHAT IS SHIBA INU COIN, CONTINUED
Whether you’ve already invested or not, keep in mind that making money through cryptocurrencies or other investments is never guaranteed, even with a popular one like Shiba Inu.
Cryptocurrencies are especially volatile, so their values can crash with little to no notice.
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RISKS OF INVESTING IN CRYPTOS, PART FIVE
Finally, the truth in marketing materials is a risk in investing in cryptos.
Firms may overstate the returns of products or understate the risks involved.
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RISKS OF INVESTING IN CRYPTOS, PART FOUR
Another risk of investing are the charges and fees.
Consumers should consider the impact of fees and charges on their investment which may be more than those for regulated investment products.
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RISKS OF INVESTING IN CRYPTOS, PART THREE
A third risk of investing in cryptocurrencies is product complexity.
The complexity of some products and services relating to cryptoassets can make it hard for consumers to understand the risks.
There is no guarantee that cryptoassets can be converted back into cash. Converting a cryptoasset back to cash depends on demand and supply existing in the market.
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RISKS OF INVESTING IN CRYPTOS, PART TWO
Another risk of investing is price volatility.
Significant price volatility in cryptoassets, combined with the inherent difficulties of valuing cryptoassets reliably, places consumers at a high risk of losses.
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RISKS OF INVESTING IN CRYPTOS
We rounded up five risks of investing in cryptocurrencies.
The first is Consumer protection.
Some investments advertising high returns based on cryptoassets may not be subject to regulation beyond anti-money laundering requirements.
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HACKERS STEAL $600MILLION
Hackers have stolen $600 million in a daring cryptocurrency heist after spotting a “vulnerability” in a blockchain site.
In one of the world’s biggest ever thefts, the cyber criminals exploited a weakness in Poly Network, a platform that looks to connect different blockchains so that they can work together.
The site said the hackers have taken thousands of digital tokens such as Ether.
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CRYPTO VALUES HIT HIGH THIS YEAR
Cryptocurrency prices hit record highs earlier this year amid interest from high profile individuals such as Elon Musk and more institutional investment in the sector.
Values can be volatile though and regulators have warned that investors could lose all their money.
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STEVEN SEAGAL’S BITCOIN SCANDAL
Under Siege and Half Past Dead hardman Seagal was paid to promote “Bitcoiin2Gen” (B2G) which saw 500 investors left out of pocket in cash and other cryptocurrencies as he unwittingly ended up backing the scam.
Seagal reportedly had been offered $250,000 along with £750,000 worth of B2G for appearing in promotional materials for the con artists.
He appeared in a press release for them and “wholeheartedly” endorsed the scheme in a post to his 7million followers on Facebook.
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ONE OF THE CO-FOUNDERS OF ETHEREUM NAMED A TIME 100 MOST INFLUENTIAL PERSON
One of the co-founders of Ethereum, Vitalik Buterin, was named one of Time magazine’s 100 Most Influential People of 2021.
Former executive chair of Reddit Alexis Ohanian praised him in a write-up for the piece.
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ALEXIS OHANIAN ON CO-FOUNDER OF ETHEREUM, VITALIK BUTERIN, PART THREE
“I’ve never been more excited about the potential of the Internet,” Ohanian added.
“And that’s largely thanks to Vitalik Buterin.”
Buterin is the co-founder of Ethereum and also co-founded Bitcoin Magazine in 2011.
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ALEXIS OHANIAN ON CO-FOUNDER OF ETHEREUM, VITALIK BUTERIN, CONTINUED
“No one person could’ve possibly come up with all of the uses for Ethereum, but it did take one person’s idea to get it started,” Ohanian added about Buterin.
“From there, a new world has opened up, and given rise to new ways of leveraging blockchain technology—some of which I’ve invested in.”
“Whether it’s startups like Sorare reinventing fantasy sports or Rainbow users showing off their NFT collections, none of this would’ve existed without Vitalik’s creation.”
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ALEXIS OHANIAN ON CO-FOUNDER OF ETHEREUM, VITALIK BUTERIN
“Thanks to Reddit’s r/Ethereum community, I’ve had the privilege of following Vitalik Buterin’s career from early on, which is why I’ve taken a certain pride in watching his legacy grow,” Ohanian wrote of the programmer.
“Sure, we can talk about the value he’s created as the platform’s co-founder, including Ethereum’s impressive market cap of around $400 billion, the dazzling world of decentralized apps and this year’s boom in the trading of NFTs.”
“What makes Vitalik so special, though, is that he is a builder’s builder.”
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GIVEAWAY SCAMS
Giveaway scams often pose as celebrities or well-known figures and ask victims to send Bitcoin, promising to send back a much larger amount.
Many giveaway scams are marketed over social media, attempting to connect through Facebook, Twitter, or Instagram.
For instance, victims reported sending more than $2million to scammers impersonating Elon Musk.
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FAKE WEBSITES
Another widespread scamming technique is websites that appear to be a new cryptocurrency mining operation or investment opportunity.
These sites encourage investors to wire in money, sometimes offering investment “tiers” and promising greater returns.
But when users attempt to withdraw their cash, they are unable to and told to input even more cryptocurrency.
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MORE RISKS OF INVESTING IN CRYPTOS
- Charges and fees: Consumers should consider the impact of fees and charges on their investment which may be more than those for regulated investment products.
- Marketing materials: Firms may overstate the returns of products or understate the risks involved.
-
RISKS OF INVESTING IN CRYPTOS
Below we round up five risks of investing in cryptocurrencies.
- Consumer protection: Some investments advertising high returns based on cryptoassets may not be subject to regulation beyond anti-money laundering requirements.
- Price volatility: Significant price volatility in cryptoassets, combined with the inherent difficulties of valuing cryptoassets reliably, places consumers at a high risk of losses.
- Product complexity: The complexity of some products and services relating to cryptoassets can make it hard for consumers to understand the risks. There is no guarantee that cryptoassets can be converted back into cash. Converting a cryptoasset back to cash depends on demand and supply existing in the market.
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CRYPTO AUDIO STREAMING
Audius is a crypto-powered music streaming platform.
It’s owned and controlled by token holders and its tokens are called Audio.
According to Audius, more than 5.3million people have used the platform this month.
Audio has been listed on CoinMarketCap since October 2020, and has rocketed in value following a deal with Chinese-owned social media giant TikTok.
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ETHEREUM UPGRADE
Ethereum (ETH) was released in 2015 and is currently the second-largest cryptocurrency behind Bitcoin, which launched in 2009.
As well as being used as a cryptocurrency, developers can also build applications and run smart contracts on Ethereum.
The upgrade is technically called Ethereum Improvement Protocol 1559, or EIP-1559, but it has also been named the “London hard fork.”
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WILL ETHEREUM OVERTAKE BITCOIN?
It’s difficult to say for certain, but it’s possible Ethereum one day overtakes Bitcoin as the dominant crypto, according to Goldman Sachs.
Last month, the bank said Ether “looks like the cryptocurrency with the highest real use potential as Ethereum, the platform on which it is the native digital currency, is the most popular development platform for smart contract applications,” reports Business Insider.
Susannah Streeter, senior investment and markets analyst at Hargreaves Lansdown, added to The Sun: “Bitcoin may boast the strongest brand in the crypto world but it doesn’t provide the same opportunities as a launch pad for decentralised apps.”