PRESIDENT Biden may crackdown on cryptocurrency after the White House issued a statement drawing attention to potential pitfalls of the currency such as ransomware and other cyber threats.
It 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 statement 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.
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WILL EOS REACH $20?
Although EOS has been on a slump lately – it can’t be ignored that it has had its moments.
As noted before, the cryptocurrency once surpassed the $20 mark in April 2018 but hasn’t gotten back to that point since.
It is also important to note that EOS skyrocketed to a high of $14.88 on May 12, up from the previous month’s high of $8.73.
To reach $20 again, the price of EOS would have to increase by more than five times.
Currently, there aren’t many bullish on EOS hitting $20 anytime soon.
EOS is noted as a smaller rival to Ethereum, but it has one advantage – speed.
Specifically, EOS can reportedly process 2,800 transactions per second.
In comparison, Ethereum and Bitcoin can only handle 30 and about five transactions per second respectively.
WHAT IS EOS?
Founded in 2017 by Brenden Blumer and Dan Larimer, EOS launched trading in June 2018 after fetching $4.1billion from an initial coin offering.
EOS operates as the crypto token of the EOSIO platform, which is designed to allow developers to build decentralized apps.
These are digital applications or programs that exist and run on a blockchain or peer-to-peer network of computers instead of a single one.
The aim is to make it as easy as possible for programmers to embrace blockchain technology.
Speaking to the BBC, the two 30-something German men behind the channel 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.”
AHEAD OF WARREN BUFFET
Goxx launched his portfolio with the Euro equivalent of $390 in an exchange account. It hit…