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Insiders at these consumer-focused companies are seeing opportunities.
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The move shows how some banks are choosing to partner with fintech firms rather than building their own platforms to keep up with evolving tech expectations.
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Australia begins enforcing world-first teen social media ban ReutersSome Australian teens 'insulted' by social media ban, as others praise a 'good thing' - live updates BBCAustralia is banning young teens from social media. Could it happen in the US? CNNIf You Quit Social Media, Will You Read More Books? The New YorkerDoxing, death threats and the ire of Elon Musk: who is the Australian woman taking on the social media giants?
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About 145 million American adults say that they own or have owned cryptocurrency. Statistically, that's more than half of your co-workers, neighbors and friends.
It's also about the number of Americans who own stocks.
Even though it's not regulated by a government agency, cryptocurrency is becoming mainstream. However, President Biden recently signed an executive order to address cryptocurrency risks with a whole-of-government approach that could make cryptocurrency even more attractive to investors as well as traditional banks and credit unions.
SEE MORE Crypto Has Been Through the Wringer in 2022: What Now?
For the near term though, cryptocurrency remains a volatile, speculative asset that will likely continue its gut-wrenching booms and busts. That's not to say that cryptocurrency doesn't belong in a well-diversified portfolio, but I recommend that my clients first educate themselves about cryptocurrency before deciding whether or not to invest.
As Warren Buffet said about investing in cryptocurrency: "I get into enough trouble with the things I think I know something about. Why in the world should I take a long or short position in something I don't know about?"
Here are some important concepts to get comfortable with.
How Cryptocurrency Works: The Basics
Say you order a new set of patio furniture online. A credit card company or p
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