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Striking advice from Tesla investor Ross Gerber today for the crypto world: young investors should beware of the so-called ‘shitcoins’, and instead focus on king Bitcoin (BTC). And otherwise probably ‘queen’ Ethereum (ETH). Gerber made these statements on Monday on the social platform X.
With the words “Avoid the shitcoins! Don’t make this mistake again. Stick to the king, Bitcoin. Or the queen, ETH. But please, not this again. Avoid shitcoins! #BTC,” he made his position clear.
The call comes at a time when alternative and lesser-known cryptos, such as Dogecoin (DOGE), Shiba Inu (SHIB) and PepeCoin (PEPE), are back in the spotlight. These so-called ‘junk coins’ are often the subject of speculation and can cause major losses to inexperienced investors.
Coinbase is asking the court to order the Securities and Exchange Commission (SEC) to establish cryptocurrency regulations. This is what the crypto exchange argues, The Block reports.
Indeed, the SEC violated the Administrative Procedures Act by failing to issue regulations and by failing to explain in detail why it denied Coinbase’s regulatory petition. Coinbase says this to the court (Court of Appeals for the Third Circuit). The law regulates how federal agencies develop and issue regulations.
Donald Trump appears to be more tolerant of bitcoin and other cryptocurrencies. The former US president takes a positive stance on cryptocurrency if re-elected. He spoke about bitcoin and cryptocurrency in an interview with news channel CNBC.
“It has [zijn] got its own life. Sometimes I do little things for fun and, you know, make money from it,” Trump says. But he states that he does not have bitcoin, but “sometimes lets people pay via bitcoin.” He adds: “If you think about it, it’s an additional form of currency. […] They’re crazy new currencies. That’s what I call them, you know, whether it’s Bitcoin or other crypto.”
Source: https://bitcoinmagazine.nl/nieuws/investeerder-waarschuwt-voor-rotzooimunten-als-doge-shib-pepe
