Cryptocurrency price LIVE – Staples Center renamed Crypto.com in $700million naming deal as Shibu Inu and Bitcoin drop

THE Staples Center is getting a new name on Christmas Day, when it will from that point on be known as Crypto.com Arena.

The arena will change its name after 22 years of operation in a $700 million deal, according to ESPN. The arena has been called Staples Center since it opened back in October 1999.

Meanwhile, Bitcoin fell by more than 12 percent in the past week and Shiba Inu coin is also down 10.5 percent over that same period, according to Coinbase.

The price of Ether and Dogecoin have also been down over the past seven days.

Crypto.com coin, GYEN, and Gala, however, are all up and listed as “top gainers” on Coinbase.

It comes as President Joe Biden signed a sweeping infrastructure bill into law that includes cryptocurrency tax regulations.

Read our cryptocurrency live blog for the latest news and updates…

  • EXPERT COMMENTS ON TETHER’S VALUE

    Despite its claim to be a stablecoin, Tether has still witnessed spikes and sharp falls in price, Susannah Streeter, senior investment and markets analyst at Hargreaves Lansdown, noted in May.

    She told The Sun: “It has also been criticized for a lack of transparency, has had to settle US lawsuits, and trading in the currency is banned in the state of New York.”

  • 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 bank.

  • WHAT IS SHIBA INU COIN, CONTINUED

    Whether you’ve already invested or not, keep in mind that making money through cryptocurrencies or other investments is never guaranteed, even with a popular one like Shiba Inu.

    Cryptocurrencies are especially volatile, so their values can crash with little to no notice.

  • WHAT IS SHIBA INU COIN?

    Shiba Inu is a cryptocurrency token that allows users to hold trillions of them.

    The tokens feature the same Shiba Inu dog as Dogecoin, which has risen massively in popularity recently.

  • BITCOIN LATINUM ANNOUNCES LISTING ON TOP CRYPTO EXCHANGE

    Bitcoin Latinum (LTNM) is gaining momentum, as it announced on October 29 that it plans to be listed on HitBTC Exchange, which is a top crypto exchange.

    The official trading is expected to begin at the end of this year.

    Bitcoin Latinum was developed on behalf of Bitcoin Latinum Foundation, by Monsoon Blockchain Corporation.

    The cryptocurrency is expanding its global acceptance, with HitBTC exchange being the seventh exchange to list Bitcoin Latinum.

  • WHAT IS FANTOM?

    Fantom is a blockchain platform that was founded by a South Korean computer scientist in 2018.

    The platform has programs, called small contracts, which allow blockchains to run more advanced transactions than just sending cryptocurrency from one person to another.

    Fantom is considered to be a competitor of Ethereum, which also offers small contracts.

  • NEW CRYPTOCURRENCIES RELEASED IN 2021: RED SHIBA

    Red Shiba is a BSC token available on PancakeSwap.

    It is described as “a token of the Red universe, it aims to strengthen the ecosystem that the Red Team is designing, a universe without Rug, Fair-play and beneficial to all fans of memes tokens”.

    It was inspired by the highly successful Shiba Inu Token.

  • NEW CRYPTOCURRENCIES RELEASED IN 2021: ORICA

    As the cryptocurrency’s website states: “Orica is built for first-time cryptocurrency users.”

    “Orica is built for those who have a personal appreciation for creativity and are on the lookout for great art.”

  • NEW CRYPTOCURRENCIES RELEASED IN 2021: LANDSHARE

    Landshare coin premiered on August 2, 2021.

    It was initially priced just over £2.60.

    The market cap is now more than £2million.

    Landshare is a DeFi platform on the Binance Smart Chain.

    It offers a hassle-free alternative to traditional real estate investments.

  • NEW CRYPTOCURRENCIES RELEASED IN 2021: BITCLOUT

    BitClout is an open-source cryptocurrency project and social media platform.

    Users are able to buy and sell “creator coins” – based on their reputation.

    For example, when they do something positive, the coin gains value.

    When the coin hit the market in June, it started trading at £129.

  • 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.

  • A CRYPTO-TRADING HAMSTER OUTPERFORMS MARKET

    hamster in Germany is trading in cryptocurrencies and has consistently been outperforming the S&P 500.

    The furry animal, called Mr Goxx, has been busy working since June, thanks to a specially adapted cage.

    He determines which currencies to buy or sell by running on his wheel or walking through one of two tunnels.

    Mr Goxx started trading on June 12 this year.

    The site states that the page is just for fun and does not offer financial advice.

  • ‘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.

  • GOXX’S CREATORS

    Speaking to the BBC, the two 30-something German men behind the channel explained that the idea started as a joke.

    “We felt that everything keeps getting more expensive these days and building savings is super-hard to achieve with high rents to pay,” they said.

    “It seems like most people from our generation see no other chance than throwing a lot of their savings on the crypto market, without having a clue what’s going on there.

    “We were joking about whether my hamster would be able to make smarter investment decisions than we humans do.”

  • AMC WILL TAKE SHIBA INU PAYMENT

    The AMC theatre CEO reportedly accept the Shiba Inu coin as a form of payment.

  • WHAT ARE RED FLAGS OF SCAMS?

    Gizmodo shared that other red flags of the SQUID coin being illegitimate was that the website that the creators launched was filled with spelling and grammatical errors.

    The crypto’s telegram channel also did not allow comments from outsiders, and its Twitter account did not allow users to reply to posts, which Gizmodo flagged as suspicious.

  • WAS THE SQUID SCAM OBVIOUS?

    Gizmodo warned of the scam on Friday, but the warning did not reach everyone.

    The site revealed that the largest red flag was that investors could invest in the coin, but not sell it.

  • SQUID CRYPTO SCAMMERS RUN OFF WITH $2.1MILLION

    Just a week after the SQUID coin launched, its creators pulled the rug on the project, and cashed in the coins for real money.

    Investors who fell victim to the scam lost an estimated $2.1million.

  • BIGGEST CRYPTO RISKS: PRODUCT COMPLEXITY

    The complexity of some products and services relating to cryptoassets can make it hard for consumers to understand the risks.

    There is no guarantee that cryptoassets can be converted back into cash.

    Converting a cryptoasset back to cash depends on demand and supply existing in the market.

  • BIGGEST CRYPTO RISKS: MARKETING MATERIALS

    Truth in marketing materials is a risk in investing in cryptos.

    Firms may overstate the returns of products or understate the risks involved.

  • BIGGEST CRYPTO RISKS: PRICE VOLATILITY

    Significant price volatility in cryptoassets, combined with the inherent difficulties of valuing cryptoassets reliably, places consumers at a high risk of losses.

  • BIGGEST CRYPTO RISKS: CHARGES AND FEES

    Consumers should consider the impact of fees and charges on their investment which may be more than those for regulated investment products.

  • BIGGEST CRYPTO RISKS: CONSUMER PROTECTION

    Some investments advertising high returns based on cryptoassets may not be subject to regulation beyond anti-money laundering requirements.

  • BANKS EMBRACE CRYPTOCURRENCY, CONTINUED

    Executives at large banks are beginning to hop on the cryptocurrency train as some invest their time in learning about the new payment method.

    A Bank of America spokesman, Mark Pipitone told the New York Times, “The bank sees potential in blockchain, and we’re currently a leading patent holder in the space with more than 160 patents. But we still haven’t found a use at scale to make the financial lives of customers and clients better.”

  • BANKS EMBRACE CRYPTOCURRENCY

    Banks are paying for slowly catching on to the future of cryptocurrency as they struggle to benefit and profit.

    As cryptocurrency start-ups explode, they are starting to offer credit cards and loans while banks are left in the dust.

    According to the New York Times, “Bank of America’s chief executive, Brian Moynihan, barred the giant company’s wealth managers from putting any client money into cryptocurrency-related investments.”