Cryptocurrency latest news – Bitcoin price plunges 8% as Metaverse set to become $1TRILLION market and VVS debuts

BANKS MAY REGULATE CRYPTO, CONTINUED

Jelena McWilliams, chair of the Federal Deposit Insurance Corporation, told Reuters in an interview that US bank regulators are looking for a way to have banks exchange with crypto assets.

“I think that we need to allow banks in this space, while appropriately managing and mitigating risk,” she said.

“If we don’t bring this activity inside the banks, it is going to develop outside of the banks. … The federal regulators won’t be able to regulate it.”

BANKS MAY REGULATE CRYPTO

US officials are reportedly exploring how banks could hold cryptocurrencies, in an effort to regulate the the asset.

Crypto is fast-growing, and if it continues to develop outside of banks, federal regulators will not be able to control it.

RISKS OF ROBINHOOD, PART TWO

For investing individual stocks, make sure you check company reports, Securities and Exchange Commission (SEC) filings, broker notes, and press releases so you can make the best decisions for your money.

Another risk when choosing Robinhood along with other brokers is that they can restrict trading when there’s unusual activity.

In fact, Robinhood faced some outrage earlier this year when it restricted trading on meme stocks including GameStop and AMC.

RISKS OF ROBINHOOD

When it comes to risks, investing alone is one because you’re not guaranteed to generate a profit and the value of your assets could fall.

If you’re choosing Robinhood so you can trade stocks and cryptocurrencies – then the game gets even riskier.

Cryptocurrencies are not only difficult to understand but even tougher to predict when bearish trends in the market will take place.

For example, cryptocurrency was thriving this year up until Elon Musk said that Tesla was halting the acceptance of payments in Bitcoin.

WHAT IS ROBINHOOD, CONTINUED

Unlike many discounted brokers, the company does not offer individual retirement accounts.

The bulk of Robinhood’s revenue comes from order flow.

WHAT IS ROBINHOOD?

The Robinhood platform operates as a discounted brokerage that offers commission-free trading.

Specifically, users can trade exchange-traded funds (ETFs), individual stocks (including American depositary shares), and options.

You can also trade Robinhood’s stock thanks to the company recently going public at a $1.2billion valuation.

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.”

WHO FOUNDED CRYPTO.COM?

Kris Marszlek has been the Chief Executive of Crypto.com since June 2016 and is based in Hong Kong.

Bobby Bao is a co-founder and managing director of Crypto.com, which was formerly known as Monaco.

Gary Or is another co-founder and is the head of technology at Foris – a universal money app, according to topionetwork.com.

The other co-founder is Rafael Melo, who, according to Topio Network, has 15 years’ experience in finance.

CRYPTO.COM COIN PRICE PREDICTION

The Crypto.com Coin cryptocurrency hit a record high on November 15, reaching $0.52 at its peak, according to CoinMarketCap.

In comparison, it was sitting at just $0.05966 on January 1 this year.

The Crypto.com token has increased in value thanks to a number of factors.

For example, it has secured several high profile sponsorship deals in 2021 including the UFC, Formula One Racing and Matt Damon’s Water.org.

From December, the Staples Center – home to the Lakers and Clippers – will also be called Crypto.com Arena.

Whether the Crypto.Com Coin continues to soar in value remains to be seen, but plenty of crypto fans have still made predictions.

For example, Wallet Investor expects the token to hit a value of $0.538 in one year and $0.8023 in five years.

Meanwhile, Digital Coin Price has set a 2021 forecast of $0.7036, a 2023 value of $0.9636 and it expects a 2028 price of $2.09.

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.

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.

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.

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.

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.

GALA PRICE PREDICTIONS

The Gala token began trading in September 2020.

Coach JV said: “My 3T Warrior Academy research team and I are super bullish on Gala.”

“The gaming industry is roughly a $175billion industry and is one of the largest media categories by revenue.”

Meanwhile, Wallet Investor expects the cryptocurrency to hit $0.172 in one year’s time and $0.469 in five years.

And Price Prediction Net estimates Gala will reach an average value of $0.20 in 2022, $0.60 in 2025 and $1.31 in 2027.

These price predictions are far from guaranteed though, so you should take them with a pinch of salt.

WHAT IS GALA?

Gala is a token in the gaming and NFT space.

It’s used on Gala Games which is a platform created in 2019 by one of the co-founders of Zynga, an $8billion gaming company.

Gala is used as the medium of exchange between people who are playing.

The tokens can be used to pay for items within the game.

John Vasquez, known as Coach JV, is a crypto expert and founder of 3T Warrior Academy who told The Sun: “Gala has a great foundation.

“Gala gives their players true ownership of their in-game items and they do this with the use of NFTs.”

Some of the popular games on the network include Town Star, Spider Tanks, Mirandus and Fortified.

RIP MR GOXX: HE ‘FELL ASLEEP PEACEFULLY’

“Mr. Goxx showed no signs of serious illness, besides having some kidney issues as a cause of a professional mite treatment in his early days,” the sad announcement continued.

“While having normal amounts of food until Sunday, he then suddenly refused eating and fell asleep peacefully on Monday morning.”

“For us humans behind Goxx Capital, the situation is hard to grasp and questions about a possible continuance of the project are not relevant to us at the moment (for now, we will leave everything as is),” the statement added.

“Thank you and rest in peace, Max (a.k.a Mr. Goxx). You will be missed, and your memory will live forever on the blockchain.”

RIP MR GOXX, THE CRYPTO-TRADING HAMSTER

Sadly, Mr Goxx, the crypto-trading hamster, passed away on November 23.

The tragic news was shared on Mr Goxx’s official Twitter account.

“We feared this day like no other and are truly shocked for it to happen just now,” Mr Goxx’s Twitter account tweeted on Wednesday.

“In deep sorrow, we have to announce the loss of our beloved furry friend.”

The account continued: “Being with us as a pet for quite a while, he became famous out of nowhere. Mr. Goxx has brought joy to people all across the globe and reminded us not to take life too seriously.

“He shed light into dark moments of pandemic, inflation and many kinds of trouble.”

GOXX’S CREATORS

Speaking to the BBC, the two 30-something German men behind Mr Goxx the crypto-trading hamster explained that the idea started as a joke.

“We felt that everything keeps getting more expensive these days and building savings is super-hard to achieve with high rents to pay,” they said.

“It seems like most people from our generation see no other chance than throwing a lot of their savings on the crypto market, without having a clue what’s going on there.

“We were joking about whether my hamster would be able to make smarter investment decisions than we humans do.”

‘DECISION TUNNELS’

The amount to be traded was determined when Goxx ran through one of two “decision tunnels”.

Depending on which tunnel he ran through, the amount he would buy or sell in cryptocurrency changed in 20 euro increments.

All of the data was rigged to a computer that made the transactions in real-time on Goxx’s behalf.

CRYPTO-TRADING HAMSTER, CONTINUED

The four-legged financial fiend was not completing transactions himself, of course.

Instead, Goxx’s trading decisions were made inside a camera-rigged “office” attached to his regular cage.

Every day, when he entered the office, a stream was started on Twitch and a tweet was sent out to his followers notifying them that trading had begun.

The hamster then ran on an “intention wheel” that chose one of 30 different cryptocurrencies to trade.

A CRYPTO-TRADING HAMSTER OUTPERFORMED MARKET

A hamster in Germany previously traded in cryptocurrencies and consistently outperformed the S&P 500.

The furry animal, called Mr Goxx, was busy working since June, thanks to a specially adapted cage.

He determined which currencies to buy or sell by running on his wheel or walking through one of two tunnels.

Mr Goxx started trading on June 12 this year.

The site states that the page is just for fun and does not offer financial advice.

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.”

EXPERTS PREDICT POLYGON’S GROWTH

How the price of Ethereum will change in the future is impossible to know for certain.

However, experts and investors have made some predictions.

Charlie Barton, an investment specialist at comparison site Finder, warned in mid-May: “The performance of Polygon has been extremely strong recently, achieving 10,000% growth in the last year.”

“It’s easy to get carried away, but such aggressive growth is highly unlikely to continue forever.”