Cryptocurrency price news – Shiba Inu down today as Bitcoin also falls after Biden ‘executive


SHIBA Inu and Bitcoin are down today after President Biden statement drawing attention to potential pitfalls of the currency such as ransomware and other cyber threats.

The statement from Joe Biden read: “Cyber threats can affect every American, every business regardless of size, and every community.

“That’s why my administration is marshalling a whole-of-nation effort to confront cyber threats.”

The White House also signaled that the US will gather 30 other countries, including NATO and G7 allies, to discuss responses to cybercrime.

“This month, the United States will bring together 30 countries to accelerate our cooperation in combatting cybercrime, improving law enforcement collaboration, stemming the illicit use of cryptocurrency, and engaging on these issues diplomatically,” it read.

Federal Reserve chair Jerome Powell also announced Thursday that there are no plans to ban cryptocurrency in the US, and prices soared 10 percent.

Read our cryptocurrency live blog for the latest news and updates…

  • WHAT NEW CRYPTOCURRENCIES HAVE BEEN RELEASED IN 2021?

    New cryptocurrencies are being released every month and it can be hard to keep track of them all.

    In May 2021 there were 10,115 cryptocurrencies – either altcoins or tokens – according to CoinMarketCap, and this had risen to 12,282 by the start of October.

    On one day alone, August 13, 2021, 21 new coins were listed on CoinMarketCap.

  • WHAT ARE THE RISKS OF INVESTING IN CRYPTO?

    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. 
    • 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.
  • SHOULD I PUT MONEY IN CRYPTO?

    Anyone considering putting money into crypto should do their research and make sure they understand the coin first and only invest money you can afford to lose. 

    It’s important to bear in mind that there can be higher fees and charges on crypto than other investments, and there’s no guarantee you can convert your cryptoassets back into cash, as doing so may depend on supply and demand.

  • WHAT IS BITCOIN?

    Bitcoin was established in 2009 by an unknown computer expert using the alias Satoshi Nakamoto.

    The cryptocurrency uses a mining procedure that involves a computer solving a difficult mathematical problem with a 64-digit solution.

    For each problem solved, one block of Bitcoin is processed. In addition, the miner is rewarded with new Bitcoin.

    But the reason why it gets criticism from environmentalists is that Bitcoin currently uses roughly 99.10terawatt-hours annually, according to the Cambridge Center for Alternative Finance.

    Currently, are about 21million Bitcoin tokens in existence.

  • HOW HAS THE PRICE OF SHIBA INU CHANGED?

    In the past month, Shiba has skyrocketed more than 300%.

    Elon Musk, the billionaire entrepreneur behind Tesla has a Shibu Inu puppy and posted a picture of it on the social media site.

    But what does the future has in store for the dog meme cryptocurrency?

    The Sun spoke to experts to find out what lies ahead – and what the cryptocurrency could be worth in 2022.

    Shibu Inu is a cryptocurrency token that allows users to hold trillions of them.

    Tokens of Shiba Inu feature the same dog as Dogecoin, which has become one of the most popular cryptocurrencies this year.

  • WHEN WILL SHIBA INU RELEASE SHIBOSHI NFTs?

    On October 5, 2021, the company announced it will release 10,000 digitalized “lovable creatures” for sale, 10,000 digitalized “lovable creatures.”

    The post explained that the 10,000 digitalized “lovable creatures” will be set for sale 10,000 digitalized “lovable creatures.”

    The company vowed to provide a “heads up” before the official launch.

  • WHAT ARE SHIBOSHI NFTs?

    Shiboshi NFTs are non-fungible tokens representing various “lovable creatures.”

    The NFT holders will also be able to name the Shiboshis for an additional $100.

    The Shiboshis will come with generic names like 00001.

    The post states: “It’s important to name your Shiboshi because names are unique and can only exist once in the Shib Oshiverse.

    “With the expansions, we are planning, this could potentially make your Shiboshi more valuable.”

  • WHAT ARE ALTCOINS?

    Altcoin stands for alternative coin, a type of virtual currency that uses the so-called blockchain to allow secure transactions. 

    Altcoin is a category of cryptocurrency rather than a currency itself, and there are more than 900 different altcoins available.

    Simon Peters, crypto-asset analyst at eToro, said: “They build on the success of bitcoin by slightly changing the rules, economics or use cases to appeal to different users.”

    “Altcoins vary greatly in their use cases and practical application. They typically have a form of technology they underpin or provide a liquidity solution to a product or service.”

  • SWISS REGULATOR APPROVES FIRST CRYPTO FUND

    Switzerland’s Financial Market Supervisory Authority has approved the first Swiss crypto fund, Bitcoin.com reported.

    FINMA revealed the fund is called “Crypto Market Index Fund.”

    It noted that it is “an investment fund according to Swiss law belonging to the category ‘other funds for alternative investments’ with particular risks.”

  • EL SALVADOR ADOPTS BITCOIN, CONTINUED

    However, those who do not have access to technologies that can carry out Bitcoin are excluded from being required to accept it.

    The US dollar and Bitcoin are now the country’s official currencies.

    It’s the first time Bitcoin has been adopted as a legal tender in a sovereign nation.

  • EL SALVADOR ADOPTS BITCOIN

    The nation’s president Nayib Bukele passed a bill in June that stated that from September 7, Bitcoin can be used in any transaction and all businesses must accept the e-currency as payment.

    The law also states that tax contributions can be paid via Bitcoin and exchanges in the cryptocurrency will not be subject to capital gains tax.

    Under the new law, El Salvador will “promote necessary training and mechanisms so that the population can access [Bitcoin] transactions.”

  • US SET TO ‘STEM ILLICIT USE OF CRYPTOCURRENCY’

    A recent statement from President Joe Biden read: “Cyber threats can affect every American, every business regardless of size, and every community.”

    “That’s why my administration is marshalling a whole-of-nation effort to confront cyber threats.”

    The White House signaled that the US will gather 30 other countries to discuss responses to cybercrime.

    “This month, the United States will bring together 30 countries to accelerate our cooperation in combatting cybercrime, improving law enforcement collaboration, stemming the illicit use of cryptocurrency, and engaging on these issues diplomatically,” it read.

  • ALEXIS OHANIAN ON CO-FOUNDER OF ETHEREUM, VITALIK BUTERIN, CONCLUSION

    “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.

  • 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.”

  • 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.”

  • 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.

  • CHINA PREVIOUSLY SHUT DOWN CRYPTO EXCHANGES, PART TWO

    While crypto creation and trading have been illegal in China since 2019, further crackdowns this year by Beijing warned banks to halt related transactions and closed much of the country’s vast network of bitcoin miners.

    Thursday’s statement by the central bank sent the strongest yet signal that China is closed to crypto.

  • CHINA PREVIOUSLY SHUT DOWN CRYPTO EXCHANGES

    It’s not Beijing’s first move against digital currency – in 2017, China shut down its local cryptocurrency exchanges.

    Despite the war on crypto, Chinese mines power nearly 80 percent of the global trade in cryptocurrencies.

  • SHARES IN CRYPTO FIRMS FALL

    Shares of cryptocurrency-related firms Coinbase Global, MicroStrategy Inc,…



Read More: Cryptocurrency price news – Shiba Inu down today as Bitcoin also falls after Biden ‘executive

2021-10-13 15:56:19

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