"Everybody who kind of disproportionately benefits from crypto tends to just ride it out on the long term," Coinbase COO Choi said.

The crypto economy will top $7.5 trillion in 2022, and most jobs will touch virtual worlds as Meta vies with crypto-native metaverses, experts said.

Francis Suarez already collects his paychecks in the cryptocurrency, which he plans for Miami residents to be able to use to pay municipal fees.

"The industry has the potential to improve a lot of people's lives. There are a lot of ways that this can happen," the exchange boss told US lawmakers.

NFTs, a bitcoin ETF, growing use cases, and regulatory developments bought Wall Street asset managers to the forefront of crypto investing this year.

The discovery of a new, potentially vaccine-resistant COVID-19 variant has prompted investors to get out of riskier assets such as crypto assets.

PIMCO founder Bill Gross went as far as to say that markets may collapse in the coming years unless interest rates go up.

Bitwise CIO Matt Hougan said on Twitter on Wednesday his company had withdrawn its bitcoin futures application with the markets regulator.

But cryptoassets as commodities can be traded if they can exhibit clear benefits and can abide by the principles of Shariah, Bloomberg first reported.

A cryptocurrency inspired by "Squid Game" jumped 75,000% as buyers crowded in, but dead links to its website and social media suggest it was a scam.

JMP also sees the number of tokens exploding from more than 10,000 today to potentially the millions, though only a small number will survive.

"Trouble is, the government will never allow it to be out of their control," Steve Wozniak told Yahoo Finance in an interview Friday.

Investors are fired up by the rapid use case of DeFi and excitement around making money off NFT games like Axie Infinity.

All platforms, according to authorities, used tactics common in investment scams to lure investors into fraudulent crypto-investment schemes.

The cryptocurrency's move higher comes days after bitcoin notched its own all-time high above $66,000.

The self-proclaimed "dogecoin killer" hit a record high on Wednesday, allowing it to briefly take over the top meme token position.

A Change.org petition requests people to sign up to "encourage Robinhood to be the first traditional brokerage" to list the shiba inu coin.