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Updated 8:34 AM EDT, Mon October 25, 2021
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Crypto experts explain how to regulate the industry
03:04 - Source: CNN
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Updated 8:34 AM EDT, Mon October 25, 2021
" data-check-event-based-preview="" data-is-vertical-video-embed="false" data-network-id="" data-publish-date="2021-09-30T21:07:09Z" data-video-section="business" data-canonical-url="https://www.cnn.com/videos/business/2021/09/30/cryptocurrency-experts-regulation-sec.cnn" data-branding-key="foreseeable-future" data-video-slug="cryptocurrency experts regulation sec" data-first-publish-slug="cryptocurrency experts regulation sec" data-video-tags="celebrities,julia chatterley" data-details="">
cryptocurrency experts regulation sec _00001125.png
Crypto experts explain how to regulate the industry
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Updated 8:34 AM EDT, Mon October 25, 2021
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Binance Markets Now
Binance CEO: Regulation helps crypto credibility, but it's not 'a magical pill'
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Updated 8:34 AM EDT, Mon October 25, 2021
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How common are Ponzi schemes in crypto? Crypto billionaire Sam Bankman-Fried weighs in
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Updated 8:34 AM EDT, Mon October 25, 2021
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What crypto skeptics dunking on the crypto faithful are missing
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Updated 8:34 AM EDT, Mon October 25, 2021
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US Microsoft founder, Co-Chairman of the Bill & Melinda Gates Foundation, Bill Gates, poses for a picture on October 9, 2019, in Lyon, central eastern France, during the funding conference of Global Fund to Fight AIDS, Tuberculosis and Malaria. - The Global Fund to Fight AIDS, Tuberculosis and Malaria on October 9, 2019, opened a drive to raise $14 billion to fight a global epidemics but face an uphill battle in the face of donor fatigue. The fund has asked for $14 billion, an amount it says would help save 16 million lives, avert "234 million infections" and place the world back on track to meet the UN objective of ending the epidemics of HIV/AIDS, tuberculosis and malaria within 10 years. (Photo by JEFF PACHOUD / AFP) (Photo by JEFF PACHOUD/AFP via Getty Images)
Video: Bill Gates mocks Bored Ape NFT's
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Updated 8:34 AM EDT, Mon October 25, 2021
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Bitcoins with US tax form 1040. Golden Bitcoin on tax form. Tax form pay concept
Here's why bitcoin's drop has investors worried
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Updated 8:34 AM EDT, Mon October 25, 2021
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A visual representation of the digital Cryptocurrency, Bitcoin on December 07, 2017 in London, England.
Stablecoins faltering amid crypto market volatility
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Updated 8:34 AM EDT, Mon October 25, 2021
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bitcoin mining washington watt dnt
A quarter of all the electricity in this county is powering Bitcoin mining
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Updated 8:34 AM EDT, Mon October 25, 2021
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Internet cables and power cables at a bitcoin mine in Sichuan Province, China, on September 27, 2016.
Bitcoin's carbon footprint is growing larger. Here's why.
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Updated 8:34 AM EDT, Mon October 25, 2021
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Coins representing crypto currency of bitcoin, ethereum, litecoin, monero, ripple, dash, on a dark background, a pattern of coins. Business, finance and technology concept.
Cryptocurrencies take Hollywood, sports and politics by storm
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Updated 8:34 AM EDT, Mon October 25, 2021
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Sen. Brown on cryptocurrency: Fraud, scams and outright theft
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Updated 8:34 AM EDT, Mon October 25, 2021
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bitcoin couple hack arrest Ilya Lichtenstein Heather Morgan
DOJ seizes $3.6 billion tied to New York couple's bitcoin hack
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Updated 8:34 AM EDT, Mon October 25, 2021
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ben mckenzie crypto
TV star has new role: Crypto critic
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Updated 8:34 AM EDT, Mon October 25, 2021
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The statue of former Los Angeles Lakers Magic Johnson is seen in front of Staples Center following an NBA basketball game between the Los Angeles Clippers and the San Antonio Spurs Tuesday, Nov. 16, 2021, in Los Angeles. The Staples Center in downtown Los Angeles will be renamed Crypto.com Arena on Christmas. The home of the NBA's Lakers and Clippers, the NHL's Kings and the WNBA's Sparks will change its name after 22 years. (AP Photo/Mark J. Terrill)
Crypto.com buys Staples Center naming rights
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Updated 8:34 AM EDT, Mon October 25, 2021
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04 Bitcoin FILE
Crypto: The future of money or the biggest scam?
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Updated 8:34 AM EDT, Mon October 25, 2021
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JPMorgan Chase & Co. CEO Jamie Dimon speaks during the Business Roundtable CEO Innovation Summit in Washington, DC on December 6, 2018. (Photo by Jim Watson/AFP/Getty Images)
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- Source: CNNBusiness
New Delhi CNN Business  — 

The parody cryptocurrency shiba inu coin just climbed to an all-time high and is one of the biggest digital currencies by market value.

Shiba coin — which appears to be inspired by dogecoin, itself a meme currency — is up more than 40% over the last seven days, according to CoinGecko. The website ranksthe coin as the 11th biggest cryptocurrency.

The token has gained more than 45 million percent in the past year, the site indicated.

It later fell about 10% from its all-time high after Tesla CEO Elon Musk — who is a big fan of dogecoin — tweeted that he does not own any shiba coin. Musk’s tweets have frequently moved crypto markets.

CNN

Like another quirky digital currency Dogecoin — which is the ninth biggest crypto by market value — shiba coin features the Shiba Inu dog as its mascot. Itsmeteoric rise has made some investors millionaires overnight.

The coinhas alsowon a handful of celebrity backers, from former boy band stars to pro athletes.

Earlier this year, Ethereum co-founder Vitalik Buterin made headlines by donating $1 billion worth of shiba coin to a Covid-19 relief fund in India.

A Change.org petition urging trading platform Robinhood to listshiba inucoin on site has garnered more than 300,000 signatures.

Other popular virtual currencies have also seen explosive growth. Bitcoin, the world’s most valuable cryptocurrency, hit an all-time high of nearly $67,000per coin last week, topping the previous record set in April.

04 Bitcoin FILE
Edward Smith/Getty Images

Related article The first bitcoin ETF finally begins trading

Bitcoin prices have surged 50% this month, from just under $44,000 at the end of September.Bitcoin is currently trading at almost $62,000.

The pop has been fueled by renewed hopes that regulators in the United States would not crack down on cryptocurrencies, support from big investors such as George Soros and the launch of the first exchange-traded fund tied to bitcoin futures.

– Paul R. La Monica contributed to this report.