Cryptocurrency News: INTERPOL Prepares To Police The Metaverse
Cryptocurrency News: Cryptocurrency prices rebounded Friday after Bitcoin and Ethereum stumbled early in the morning but recovered their footing. With a sideways week for digital assets coming to a close, here are the top crypto headlines for the day.
Bitcoin miner Core Scientific (CORZ) is suing crypto lender Celsius Network for not repaying the roughly $5.4 million it’s owed since filing for bankruptcy in July, the Wall Street Journal reported. CORZ stock tanked this year, falling to $1 from $10 per share as the crypto markets suffered major losses.
Global police organization INTERPOL unveiled its Metaverse platform specifically designed for law enforcement worldwide. The INTERPOL Metaverse is fully operational and allows users to interact and collaborate with other offices and take training courses in forensic investigation and other policing activities. INTERPOL says the list of possible crimes will only expand as the number of metaverse users grows.
Coinbase (COIN) says stablecoin USD Coin (USDC), the fourth largest cryptocurrency by marketcap, is mostly purchased in America. Currently, three times more USDC is bought with U.S. dollars compared to non-American currencies. International users typically have to pay a fee to convert their local currency to USDC, creating a barrier for global adoption.
Warner Bros. (WBD) is launching NFT movies and bringing The Lord of The Rings to the blockchain.
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Cryptocurrency Price Action
Bitcoin is around $19,200 Friday evening after dropping below $18,700 before the stock market opened. Meanwhile Ethereum reclaimed its $1,300 level after falling to $1,254.
Ethereum’s price has slipped after merging to a proof-of-stake network that should make the system faster and vastly more energy efficient.
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Digital asset investments are extremely volatile. While cryptocurrency’s fundamentals and technical indicators may differ, investors should focus on the same key objectives. First, stay protected by learning when it’s time to sell, cut losses or capture profits. Second, prepare to profit if the cryptocurrency starts to rebound.
Despite their original promise, cryptocurrencies haven’t acted as hedges against inflation. Instead, they’ve trended with the broader indexes. Read The Big Picture and Market Pulse to track daily market trends.
View IBD’s Best Cryptocurrencies And Crypto Stocks To Buy And Watch page to help navigate the world of digital asset investments.
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Note: MicroStrategy is a software company that converts its cash into Bitcoin and heavily invests in cryptocurrency. Former CEO and Board Chairman Michael Saylor claims MSTR stock is essentially a Bitcoin spot ETF.
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