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Cardano, Tron sink as Etoro slaps limits on both, citing 'evolving' cryptocurrency debate – Yahoo Finance

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Cryptocurrencies Cardano (ADA) and TRON (TRX) sank on Wednesday, following a decision by online trading platform eToro to delist the digital coins on its platform — a move that left crypto market watchers flummoxed.
TRON tumbled by over 5% on the day, while Cardano has sold off by over 8%, according to market data.
In a terse statement, the exchange based its decision on unspecified regulatory reasons, but it comes at a time when authorities are moving to exert more control over the crypto sector, in a bid to protect investors. 
“The regulatory landscape for crypto is evolving rapidly. As a result, we will be limiting the ability for U.S. users to open new positions in, or earn staking rewards for, ADA and TRX,” said an eToro spokesperson.
Starting December 26, users won’t be able to open new positions in either coin, and their ability to receive a yield for staking those same assets will end on December 31.
While eToro assured customers they will not be forced to sell their existing holdings in those cryptocurrencies, both assets came under selling pressure since the announcement. eToro did not specify exactly what concerns prompted the move.   
Mati Greenspan, CEO of investment research firm Quantum Economics, told Yahoo Finance that he couldn’t immediately identify which U.S. regulations affect ADA and TRX that don’t also apply to the rest of the crypto market.
“As a user and former employee I support their decision but a bit more clarity into their train of thought would be appreciated by the community,” said Greenspan.
The wide reaching effort to rein in what Securities and Exchange Commission Chairman Gary Gensler has called the "Wild West" of digital currencies has stirred uncertainty in the crypto sector. It's led to some market players scrambling to influence the debate over regulation — and others to try and get out ahead of possible enforcement actions, which could be driving eToro's thinking.
The SEC classifies Bitcoin (BTC-USD) and ethereum (ETH-USD) – the two largest cryptocurrencies – as commodities instead of securities, but most cryptocurrencies sold on exchanges to U.S. investors aren’t registered as such.
Expressing his personal views numerous times since taking office as the SEC’s head, Gensler has said that many crypto assets — especially those that fall in the Decentralized Finance or DeFi space — are 'Decentralized In Name Only (DINO)’. That means the SEC could very well begin to take enforcement action on crypto exchanges that offer these assets.
In December 2020, the SEC announced that it would sue another top cryptocurrency, Ripple (XRP). While the lawsuit is ongoing, roughly 80 different cryptocurrency exchanges at least briefly de-listed XRP according to Carol Goforth, a Law Professor at the University of Arkansas who specializes in securities and crypto regulation.
“That is where I have seen most of the de-listing that has occurred, but it's not clear yet that’s what is going on here,” Goforth told Yahoo Finance.
Like stablecoins, crypto lending or offering customers the chance to earn “staking rewards” has drawn scrutiny from regulators. 
In September, the SEC cut short Coinbase’s efforts to launch their own lending service, with Gensler insisting that the product offering needed to be registered as a security. Meanwhile, crypto lenders BlockFi — reportedly under investigation by the SEC — and Celsius Network have faced numerous cease and desist orders from state securities regulators.
There are a number of reasons why an exchange might want to “de-list” a cryptocurrency for U.S. consumers according to Goforth. But she could not determine any unique characteristic of ADA or TRX which would make them a target for regulators. 
Underscoring the opaqueness of eToro's decision, Bitstamp — a far larger exchange — just recently listed Cardano for trading, which made the move to limit trading "particularly confusing, unless eToro knows something that we don’t,” said Goforth. 
Conversely, “Tron has a relatively high trading volume, but again, I don’t see anything that makes it particularly likely to be a target for regulators.”
Goforth suggested eToro might have also be using an “internal reviewing” process that points to these assets being riskier, or more likely to be the targets of regulatory attention.
David Hollerith covers cryptocurrency for Yahoo Finance. Follow him @dshollers.
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Shares of Merck & Co. (NYSE: MRK) were trading 5.5% lower as of 12:46 p.m. ET on Monday. The decline came after Citi analyst Andrew Baum downgraded the stock from buy to neutral, and lowered his 12-month price target on it from $105 to $85. In this case, Baum's downgrade decision was driven by a pair of significant disappointments that Merck reported in recent weeks.
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After sliding along with the rest of the stock market on Friday, shares of lithium mining stock Lithium Americas (NYSE: LAC) are rebounding in a big way on Monday — up 13.6% as of 12:15 p.m. ET. You can thank the friendly analysts at National Bank Financial for that. No sooner had Lithium Americas finished its Friday slide than an analyst at the Canadian investment bank stepped in and reiterated an outperform recommendation on the stock.
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With 2021 drawing to a close, it has been a disappointment for Nio (NIO) investors, with shares down 18% on a year-to-date basis. However, following talks with NIO's CFO, Mizuho analyst Vijay Rakesh is confident 2022 will be a “big year” for the company dubbed the Chinese Tesla. Rakesh reiterated a Buy rating on NIO shares along with a $65 price target. This target brings the upside potential to ~61%. (To watch Rakesh’s track record, click here) So, what’s behind the exuberant take? Well, first
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Although it's been a dud of a performer in 2021, telehealth platform Teladoc Health (NYSE: TDOC) is a holding I fully expect to deliver 10X (or greater) returns by the time I'm ready to enjoy retirement. While some folks would opine that Teladoc was lucky to be in the right place at the right time when the pandemic struck, I'd contend that they're not looking at the bigger picture. For instance, in the six years leading up to the pandemic, Teladoc's average annual sales grew by 74%.
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Intel, Block Supporting Mining a Positive for Bitcoin’s Price: Analyst – CoinDesk

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Large tech companies such as Intel and Block (previously Square) delving into making mining more efficient and accessible is likely to help the price of bitcoin by encouraging mass adoption, said an analyst for U.K-based digital asset broker GlobalBlock.
Intel, one of the world’s largest chip makers, said on Jan. 18 it will unveil an “ultra low-voltage bitcoin mining ASIC” which will be a more efficient specialized mining computer, competing with current miners that are in the market. “The fact that a $200+ billion tech firm is providing solutions for Bitcoin mining is more confirmation of big players entering the crypto space,” said GlobalBlock’s analyst Marcus Sotiriou.
The chipmaker said its new miner will reduce power consumption by about 15%, Sotiriou said, adding that such an increase in efficiency will help more institutional investors to enter the sector as ESG (environmental, social and governance) is one of their key investment priorities. If such a scenario plays out, it will likely help support bitcoin’s price.
Read more: How Bitcoin Mining Works
Crypto miner Griid Infrastructure, which is going public via a merger with special purpose acquisition company Adit EdTech Acquisition Corp., has already signed a supply agreement with Intel to potentially buy the chip maker’s new ASIC miners, according to a filing.
Meanwhile, payments giant Block said on Jan. 13 that it’s going ahead with its plan to build an open-source bitcoin mining system to make “mining more distributed and efficient.” If this feature is integrated with Cash App, it might increase the use of bitcoin to pay for goods and services by its users, furthering bitcoin adoption by the masses, Sotiriou noted.
“If successful, this will dramatically increase bitcoin’s use case as a means of exchange, rather than just a store of value – this would result in significantly more adoption and hence help bitcoin reach price figures of over $100,000,” he said.
Bitcoin is now trading near $42,000 since reaching its all-time high of just under $69,000 in November. The stocks of some miners, which are highly leveraged to the price of the crypto currency they mine, have tumbled more than 50% since their peak.
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Aoyon Ashraf
Aoyon Ashraf is crypto mining reporter with more than a decade of experience in covering equity markets
Follow @@Aoyon_A on Twitter
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The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups.
@2021 CoinDesk

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Dogecoin value 2022: Why did Elon Musk make the cryptocurrency's value rise? – Marca English

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Dogecoin’s value increased by 5,859% over the past 12 months
Dogecoin rose to $0.20 – a 15% increase in value – after billionaire Elon Musk announced Tesla would accept the cryptocurrency for purchasing merchandise.
The cryptocoin with the shiba inu dog meme originally started as a joke, but Musk’s various tweets about it have helped Dogecoin increase by 5,859% over the past 12 months, according to Coinbase. Tesla’s website started accepting Dogecoin soon after, with items such as an electric quad bike for kids priced at 12,020 doge ($2,368), the “Giga Texas Belt Buckle” for 835 doge ($156), and a whistle for 300 doge ($57).
This is just one of many tweets by Musk regarding Dogecoin, the first one coming December 20, 2020 when he tweeted, “One Word: Doge.” Shortly after his tweet, the value of Dogecoin rose by 20%.
Musk followed that post with a barrage of Dogecoin-related tweets in February 2021, including, “Dogecoin is the people’s crypto,” and “no highs, no lows, only Doge”. After these tweets, Dogecoin’s value soared by roughly 40%.
After a full year of showing support for Dogecoin, on December 14 Musk said Tesla would accept the cryptocoin to pay for merch. Dogecoin spiked more than 20% after his tweet.
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This mom quit her job to focus on crypto full time and build 'generational wealth.' Now she makes around $80,000 per month – CNBC

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This mom quit her job to focus on crypto full time and build ‘generational wealth.’ Now she makes around $80,000 per month  CNBC
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