Cryptocurrencies prices continue to rise: Market wrap

Mon, 2021-10-11 18:22

RIYADH: Bitcoin, the leading cryptocurrency in trading internationally, traded higher on Monday, rising by 4.11 percent to $57,508.22 at 5:48 p.m. Riyadh time.

Ether, the second most traded cryptocurrency, traded at $3,599.90, up 2.21 percent, according to data from CoinDesk.

Other crypto news:

Popular investor Michael Berry, the founder of private investment firm Scion Asset Management has commented on the shiba inu (SHIB) token as pointless and criticized its supply after the dogecoin rival cryptocurrency surged 230 percent over the past week.

“Just saying, one quadrillion seconds is about 32 million years. One quadrillion days is 2.7 trillion years, or all of time, from the beginning of the universe, multiplied by 71,000. In other words, pointless,” Burry wrote.

Cryptocurrencies at airports

Travelers will be able to buy airline tickets in Venezuela using cryptocurrencies soon, according to statements made by Freddy Borges, who is the director of the Maiquetía International Airport.

The institution is adapting its payment system to receive some cryptocurrencies as payment for airline tickets and other services provided at the airport.

“We will activate a button for cryptocurrency payments in the airport platforms and commercial activities, in coordination with Sunacrip,” Borges said.


Hester Peirce, a commissioner from the US Securities and Exchange Commission (SEC) said that truly decentralized projects pose a challenge to crypto regulation.

She also noted that decentralized finance inherently carries some capacity for self-regulation. “We need to take that into account as we design a regulatory system.”

“People shouldn’t assume that the SEC can only focus on one thing. The SEC has a lot of resources and can go after a lot of things simultaneously,” Peirce said.

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Mining equipment producer Bitmain has announced that it will no longer ship its products to mainland China.

The company said this is being done in response to Chinese local regulations, after a protracted crackdown on crypto mining operations in the country and the ban on all activities related to cryptocurrency.

“From Oct. 11, 2021, Antminer will stop shipping to mainland China,” Bitmain said.


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Can the White House stop cryptocurrencies being used for cybercrime?Cryptocurrencies continue to rise despite regulatory issues: Market wrap


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