SHIBA Inu and Bitcoin are down today after President Biden statement drawing attention to potential pitfalls of the currency such as ransomware and other cyber threats.

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 White House 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.CHINA PREVIOUSLY SHUT DOWN CRYPTO EXCHANGES, PART TWO While crypto creation and trading have been illegal in China since 2019, further crackdowns this year by Beijing warned banks to halt related transactions and closed much of the country’s vast network of bitcoin miners. Thursday’s statement by the central bank sent the strongest yet signal that China is closed to cryptoCHINA PREVIOUSLY SHUT DOWN CRYPTO EXCHANGES It’s not Beijing’s first move against digital currency – in 2017, China shut down its local cryptocurrency exchanges. Despite the war on crypto, Chinese mines power nearly 80 percent of the global trade in cryptocurrencies. 12TH OCT 2021, 02:00 SHARES IN CRYPTO FIRMS FALL Shares of cryptocurrency-related firms Coinbase Global, MicroStrategy Inc, Riot Blockchain, and Marathon Patent Group fell after China’s central bank put a ban on crypto trading and mining. “It’s been a very volatile week to say the least, so I think going into the last week of September the volatility is likely to continue especially with the end-of-the-quarter window dressing,” said Peter Cardillo, chief market economist at Spartan Capital Securities in New York. Investors are also looking for signs of progress on President Joe Biden’s spending and budget bills Shares of cryptocurrency-related firms Coinbase Global, MicroStrategy Inc, Riot Blockchain, and Marathon Patent Group fell after China’s central bank put a ban on crypto trading and mining. “It’s been a very volatile week to say the least, so I think going into the last week of September the volatility is likely to continue especially with the end-of-the-quarter window dressing,” said Peter Cardillo, chief market economist at Spartan Capital Securities in New York. Investors are also looking for signs of progress on President Joe Biden’s spending and budget bills.CHINA’S CRACKDOWN ON CRYPTO IS ‘BIG OPPORTUNITY’ FOR US China’s crackdown on cryptocurrency transactions “is a big opportunity for the U.S.”, according to Pat Toomey, the top Republican on the Senate Banking Committee. This comes as the US Securities and Exchange Commission lobbied for more regulations when it comes to cryptocurrency.DECISION TUNNELS The amount to be traded is determined when Goxx runs through one of two “decision tunnels”. Depending on which tunnel he runs through, the amount he will buy or sell the cryptocurrency changes in 20 euro increments. All of the data is rigged to a computer that makes the transactions in real-time on Goxx’s behalf.12TH OCT 2021, 23:30 CRYPTO-TRADING HAMSTER, CONTINUED The four-legged financial fiend is not completing transactions himself, of course. Instead, Goxx’s trading decisions are made inside a camera-rigged “office” attached to his regular cage. Every day, when he enters the office, a stream is started on Twitch and a tweet is sent out to his followers notifying them that trading has begun. The hamster then runs on an “intention wheel” that chooses one of 30 different cryptocurrencies to trade.WHAT IS TETHER? The Tether cryptocurrency, which is also known as USDT, was officially launched as Realcoin in 2014, but has since changed its name. It’s described as a “stablecoin”, which is a type of cryptocurrency that aims to keep crypto values stable. Tether aims to do this by pegging the price to a regular “fiat” currency, like US dollars, Euros or the Chinese yuan. Tether claims to keep values steady by holding reserves in that currency in a bankWHAT IS LITECOIN? As the name indicates, the cryptocurrency is small. But Litecoin, which was established in 2011 by Google engineer Charlie Lee, operates similarly to Bitcoin. Mr Lee on occasions refers to Litecoin as the “silver to Bitcoin's gold.” The two cryptocurrencies act similarly in how their global payment operations are set up. Both are not controlled by financial institutions12TH OCT 2021, 19:15 WHAT IS ROBINHOOD? The Robinhood platform operates as a discounted brokerage that offers commission-free trading. Specifically, users can trade exchange-traded funds (ETFs), individual stocks (including American depositary shares), and options. You can also trade Robinhood’s stock thanks to the company recently going public at a $1.2billion valuation. Unlike many discounted brokers, the company does not offer individual retirement accounts. The bulk of Robinhood’s revenue comes from order flow.12TH OCT 2021, 19:00 CAN YOU TRADE CRYPTO ON ROBINHOOD? Yes, unlike most of its discount rivals, Robinhood offers 24/7 crypto trading through its platform. That means you’ll have access to trade major cryptocurrencies including, Dogecoin, Ethereum, and Bitcoin. Its crypto investors can buy or sell with a market order, which means it’s executed at the current market price