Coinbase Listing Has Largest Impact On Price Among 6 Exchanges - Messari.
Among six of the major crypto exchanges, Coinbase listings have the biggest effect on a coin's price, according to a researcher at the crypto intelligence firm Messari.
Its report noted the so-called 'Coinbase Effect' as a well-known phenomenon referring to the positive effects that an announcement of an asset listing on this exchange has on that asset's price, given the exposure it gains to a new set of market participants.
Therefore Messari researcher Roberto Talamas looked into the effects that listings on six different centralized exchange have on asset prices, wanting to find out if all exchange listings affect token prices the same way. Besides Coinbase, Talamas included listing information from Binance, Gemini, Kraken, OKEx, and FTX in the research.
For each, the firm observed the distribution of cumulative returns five days after the token listing, and found that,
Unsurprisingly, Coinbase listings have the highest average return standing at 91%, but also have the widest distribution ranging from -32% to 645%.
While one could assume based on these results that Coinbase listings result in higher returns compared to other exchanges, Messari noted "a number of outliers" within the Coinbase sample, which saw "experienced tremendous returns ... drastically skewing the average towards the right side of the return distribution." These include platform to create decentralized marketplaces and communities District0x's 645% price increase post-listing and identity verification solution Civic 493% increase.
That said, the researcher concluded that,
"After controlling for outliers, it remains evident that the Coinbase listing has the highest impact on price among exchange listings with an average five-day return of 29%. Taken at face value, these results suggest that exchange listings, especially Coinbase, more often than not lead to a boost in asset returns."
Meanwhile, as reported last June, a study from crypto analytics firm Coin Metrics found that, while Coinbase listing announcements have historically made “a positive impact” on an asset’s price, this impact is “more muted” than some may have believed, while generally being “skewed toward the broader market trend at the time.” Additionally, the price movements following the ''exploring the addition' of certain assets' announcements were “less significant” and “largely related to the general market regime at time,” the study said.
According to Coinbase, they had 43m verified users last year and 2.8m monthly transacting users. Also, they claim that they work with 7,000 institutions and 115,000 ecosystem partners in over 100 countries.
Among six of the major crypto exchanges, Coinbase listings have the biggest effect on a coin's price, according to a researcher at the crypto intelligence firm Messari.
Its report noted the so-called 'Coinbase Effect' as a well-known phenomenon referring to the positive effects that an announcement of an asset listing on this exchange has on that asset's price, given the exposure it gains to a new set of market participants.
Therefore Messari researcher Roberto Talamas looked into the effects that listings on six different centralized exchange have on asset prices, wanting to find out if all exchange listings affect token prices the same way. Besides Coinbase, Talamas included listing information from Binance, Gemini, Kraken, OKEx, and FTX in the research.
For each, the firm observed the distribution of cumulative returns five days after the token listing, and found that,
Unsurprisingly, Coinbase listings have the highest average return standing at 91%, but also have the widest distribution ranging from -32% to 645%.
While one could assume based on these results that Coinbase listings result in higher returns compared to other exchanges, Messari noted "a number of outliers" within the Coinbase sample, which saw "experienced tremendous returns ... drastically skewing the average towards the right side of the return distribution." These include platform to create decentralized marketplaces and communities District0x's 645% price increase post-listing and identity verification solution Civic 493% increase.
That said, the researcher concluded that,
"After controlling for outliers, it remains evident that the Coinbase listing has the highest impact on price among exchange listings with an average five-day return of 29%. Taken at face value, these results suggest that exchange listings, especially Coinbase, more often than not lead to a boost in asset returns."
Meanwhile, as reported last June, a study from crypto analytics firm Coin Metrics found that, while Coinbase listing announcements have historically made “a positive impact” on an asset’s price, this impact is “more muted” than some may have believed, while generally being “skewed toward the broader market trend at the time.” Additionally, the price movements following the ''exploring the addition' of certain assets' announcements were “less significant” and “largely related to the general market regime at time,” the study said.
According to Coinbase, they had 43m verified users last year and 2.8m monthly transacting users. Also, they claim that they work with 7,000 institutions and 115,000 ecosystem partners in over 100 countries.
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✅ Backed and supported by Cardano founder
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🚀It’s gonna be a GEM!🚀
🤓It stores verified personal profiles based on academic and professional achievements. It is backed by Cardano founders, who invested in the project.
👉DISCIPLINA's blockchain is quite compact, just like Mina's. It also has a testnet and a Mac wallet.
🔅NFT's implementation is planned to validate the authenticity of platform's content and courses.
➕Pros:➕
✅ Great technology with its own blockchain, not another Ethereum-based token
✅ Strong team
✅ Backed and supported by Cardano founder
✅ Traction in China
✅ Launchpad IDO, sweet profit and BSC is expected - just the way we like it
🚀It’s gonna be a GEM!🚀
Bitcoin Market Changed 'Radically' & Volatility Decline Attracts Institutions.
We are in a "radically" different bitcoin (BTC) market today, an analyst stressed, while JPMorgan strategists find that decreasing volatility is here to help institutional adoption.
Per the latest Market Intel report by Chainalysis' Chief Economist Philip Gradwell, the data collected in the research suggested that the bitcoin price is resilient above at least USD 50,000, that there is significant observed demand at high price levels, but also that the market has changed radically in recent months.
"Cryptocurrency prices have been volatile but resilient over the last two weeks, with the bitcoin price ranging from a low of just over USD 50k to a high of just under USD 60k, but ending the fortnight at a similar price level to the start, of above USD 58k," he said.
Chainalysis observed the amount of bitcoin held by 'whales', those who held at least BTC 1,000, and how much they had paid for it, but they also analyzed all entities holding bitcoin, and concluded that,
"Analyzing the cost of acquisition since 2016 demonstrates how radically the market has changed in the last few months, to one where there is likely to be a lot of demand from existing buyers to support high price levels. As long as existing buyers do not change their hypothesis on bitcoin, it is likely that the price will be resilient above at least USD 50k."
While, by March 29, BTC 8.4m were last acquired for less than USD 10,000 each, BTC 0.1m were acquired for more than USD 57,626 - these holders had made a USD loss but were still holding. Furthermore, said Gradwell, BTC 5.6m were bought for more than USD 30,000 and continue to be held, as well as BTC 3.1m at more than USD 40,000, and BTC 1.6m at more than USD 50,000.
Additionally, with the rapid price increase since November, from USD 15,000 to the all-time high of above USD 61,000, came the significant acquisition of bitcoin across many groups, resulting in the bitcoin cost curve to shift up significantly for 8m of the BTC 18.7m supply - meaning that the cost basis for many BTC is now "radically higher" than just a few months ago, "demonstrating that a broad swath of market participants are willing to buy and hold at much higher prices than previously."
We are in a "radically" different bitcoin (BTC) market today, an analyst stressed, while JPMorgan strategists find that decreasing volatility is here to help institutional adoption.
Per the latest Market Intel report by Chainalysis' Chief Economist Philip Gradwell, the data collected in the research suggested that the bitcoin price is resilient above at least USD 50,000, that there is significant observed demand at high price levels, but also that the market has changed radically in recent months.
"Cryptocurrency prices have been volatile but resilient over the last two weeks, with the bitcoin price ranging from a low of just over USD 50k to a high of just under USD 60k, but ending the fortnight at a similar price level to the start, of above USD 58k," he said.
Chainalysis observed the amount of bitcoin held by 'whales', those who held at least BTC 1,000, and how much they had paid for it, but they also analyzed all entities holding bitcoin, and concluded that,
"Analyzing the cost of acquisition since 2016 demonstrates how radically the market has changed in the last few months, to one where there is likely to be a lot of demand from existing buyers to support high price levels. As long as existing buyers do not change their hypothesis on bitcoin, it is likely that the price will be resilient above at least USD 50k."
While, by March 29, BTC 8.4m were last acquired for less than USD 10,000 each, BTC 0.1m were acquired for more than USD 57,626 - these holders had made a USD loss but were still holding. Furthermore, said Gradwell, BTC 5.6m were bought for more than USD 30,000 and continue to be held, as well as BTC 3.1m at more than USD 40,000, and BTC 1.6m at more than USD 50,000.
Additionally, with the rapid price increase since November, from USD 15,000 to the all-time high of above USD 61,000, came the significant acquisition of bitcoin across many groups, resulting in the bitcoin cost curve to shift up significantly for 8m of the BTC 18.7m supply - meaning that the cost basis for many BTC is now "radically higher" than just a few months ago, "demonstrating that a broad swath of market participants are willing to buy and hold at much higher prices than previously."
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Unlike Bitcoin, Ethereum's ATH Was Driven by Relatively Small Demand - Analyst.
Unlike bitcoin (BTC), ethereum (ETH)'s recent all-time high (ATH) was driven by a smaller prior demand, according to an analyst.
"This week’s all-time high ethereum price of USD 2,151 was some way above a large level of support, and suggests that the peak was driven by a relatively small amount of demand. This is in contrast to bitcoin, which had greater prior demand across high price levels," Philip Gradwell, Chief Economist at US-based blockchain analysis company Chainalysis, said in his Market Intel report this week.
He analyzed the cost of acquisition across the ethereum supply - the ETH 115m held by 1,525 groups of entities. Per Gradwell, this data shows how much is held by those willing to buy and hold at least at their cost of acquisition, which then shows how much prior demand there has been at different price levels, indicating the support for each price level.
After looking at the USD cost of acquisition of ETH held on April 5, the Chief Economist found that "a very large amount" of this cryptoasset is held by entities that acquired it at around USD 1,800.
On the other hand, relatively little ETH, some 700,000, has been acquired above USD 1,850, costing a total of USD 1.4bn.
Gradwell, however, stressed that there are caveats to this analysis, such as that the data only describes crypto that moves on-chain, and that the cost of acquisition is calculated as a weighted average of an entity's ETH, some of which may be acquired at a low cost and some at a high cost.
What he also observed are ETH cost curves. Similarly to BTC, these cost curves since November 2020 show that the ETH market has changed "radically" in recent months. He noted that the rapid price increase from January until April - from USD 737 to the ATH - was accompanied by "significant acquisition of Ethereum across many entity groups." This further led to "a substantial increase" in the cost of acquisition for ETH 50m out of the ETH 115m supply.
Furthermore, the cost curves from November and December 2020 suggest that a small amount of ETH was acquired for a much higher cost than the rest of the supply - which can also be seen in cost curves from earlier periods.
This phenomenon, wrote Gradwell, is a result of small amounts of ETH bought at previous ATHs, mostly in the late-2017 bull run, that continued to be held even as prices dropped.
"It is remarkable to me that most Ethereum holders that acquired in late 2017 capitulated, except for a small number who finally saw their losses reversed in early 2021," concluded the economist, adding:
"The persistence of a small, but very bullish, cohort of ethereum buyers supports my concern that the highest Ethereum prices tend to have a narrow base of support, at least compared to bitcoin."
As reported, last week Gradwell analyzed the amount of bitcoin held by different entities, as well as certain cost curves, finding that the market has changed radically in recent months. Additionally, the cost basis for many BTC is now "radically higher" than just a few months ago, "demonstrating that a broad swath of market participants are willing to buy and hold at much higher prices than previously."
Unlike bitcoin (BTC), ethereum (ETH)'s recent all-time high (ATH) was driven by a smaller prior demand, according to an analyst.
"This week’s all-time high ethereum price of USD 2,151 was some way above a large level of support, and suggests that the peak was driven by a relatively small amount of demand. This is in contrast to bitcoin, which had greater prior demand across high price levels," Philip Gradwell, Chief Economist at US-based blockchain analysis company Chainalysis, said in his Market Intel report this week.
He analyzed the cost of acquisition across the ethereum supply - the ETH 115m held by 1,525 groups of entities. Per Gradwell, this data shows how much is held by those willing to buy and hold at least at their cost of acquisition, which then shows how much prior demand there has been at different price levels, indicating the support for each price level.
After looking at the USD cost of acquisition of ETH held on April 5, the Chief Economist found that "a very large amount" of this cryptoasset is held by entities that acquired it at around USD 1,800.
On the other hand, relatively little ETH, some 700,000, has been acquired above USD 1,850, costing a total of USD 1.4bn.
Gradwell, however, stressed that there are caveats to this analysis, such as that the data only describes crypto that moves on-chain, and that the cost of acquisition is calculated as a weighted average of an entity's ETH, some of which may be acquired at a low cost and some at a high cost.
What he also observed are ETH cost curves. Similarly to BTC, these cost curves since November 2020 show that the ETH market has changed "radically" in recent months. He noted that the rapid price increase from January until April - from USD 737 to the ATH - was accompanied by "significant acquisition of Ethereum across many entity groups." This further led to "a substantial increase" in the cost of acquisition for ETH 50m out of the ETH 115m supply.
Furthermore, the cost curves from November and December 2020 suggest that a small amount of ETH was acquired for a much higher cost than the rest of the supply - which can also be seen in cost curves from earlier periods.
This phenomenon, wrote Gradwell, is a result of small amounts of ETH bought at previous ATHs, mostly in the late-2017 bull run, that continued to be held even as prices dropped.
"It is remarkable to me that most Ethereum holders that acquired in late 2017 capitulated, except for a small number who finally saw their losses reversed in early 2021," concluded the economist, adding:
"The persistence of a small, but very bullish, cohort of ethereum buyers supports my concern that the highest Ethereum prices tend to have a narrow base of support, at least compared to bitcoin."
As reported, last week Gradwell analyzed the amount of bitcoin held by different entities, as well as certain cost curves, finding that the market has changed radically in recent months. Additionally, the cost basis for many BTC is now "radically higher" than just a few months ago, "demonstrating that a broad swath of market participants are willing to buy and hold at much higher prices than previously."
Trezor's Plans, Spain's Crypto Tax Warning, Thai SEC & Binance.
Wallet news
Trezor announced four things set to come out this year: Trezor Suite Mobile app for Android, Bitcoin Full Node, CoinControl, and Child Pays For Parent (CPFP), as well as CoinJoin. The anonymization method for bitcoin transactions CoinJoin will obscure the sources and destinations of users' transactions, they said, claiming that the combination of Tor Switch, CoinControl, and CoinJoin "will guarantee you the top level of privacy and security."
Tax news
The Spanish Tax Agency, known locally as the Hacienda, has issued an unprecedented 14,800 warning letters to Spaniards it suspects may fail to or have already failed to declare their crypto earnings in mandatory tax filings. Per Telemadrid, the letters sought to inform recipients that they did not need to declare any crypto purchases, but reminded them that capital gains tax payments were due on profitable sales. Failure to comply, the agency added, could result in fines of “over USD 6,000.”
Exchanges news
The Thai Securities and Exchange Commission (SEC) issued a warning to the country's investors stating that Binance is not a licensed digital asset operator in this country. Therefore, its users will not be protected by Thailand's law. The regulator sent a letter to the major exchange and to "the relevant parties to clarify the information" about the company. When contacted by Cryptonews, Binance refused to comment on the topic, stating that they "don't disclose our conversations with regulators."
CBDC news
A group of the world’s seven major central banks (including the US Federal Reserve and the European Central Bank) has scope to set common rules and platforms for their own digital currencies that could lay the groundwork for more efficient cross-border payments, said Kazushige Kamiyama, head of the Bank of Japan (BOJ)’s department overseeing the development of a central bank digital currency (CBDC). Per Reuters, as the role a CBDC plays differs for advanced nations with a robust banking system and emerging economies that can use CBDCs to make up for shortfalls in their financial infrastructure, said Kamiyama, it's "better to come up with common rules among countries with similar economic structures."
DeFi news
Coinbase joined the DeFi Alliance, an open association that provides mentorship and funding for early stage tech teams working in the decentralized finance (DeFi) sector, they said. The DeFi Alliance has more than 60 member companies. They recently announced their first fund, DeFi Alliance Fund I, seeded by Alliance members and led by the founding partners along with billionaire entrepreneur Mark Cuban.
Wallet news
Trezor announced four things set to come out this year: Trezor Suite Mobile app for Android, Bitcoin Full Node, CoinControl, and Child Pays For Parent (CPFP), as well as CoinJoin. The anonymization method for bitcoin transactions CoinJoin will obscure the sources and destinations of users' transactions, they said, claiming that the combination of Tor Switch, CoinControl, and CoinJoin "will guarantee you the top level of privacy and security."
Tax news
The Spanish Tax Agency, known locally as the Hacienda, has issued an unprecedented 14,800 warning letters to Spaniards it suspects may fail to or have already failed to declare their crypto earnings in mandatory tax filings. Per Telemadrid, the letters sought to inform recipients that they did not need to declare any crypto purchases, but reminded them that capital gains tax payments were due on profitable sales. Failure to comply, the agency added, could result in fines of “over USD 6,000.”
Exchanges news
The Thai Securities and Exchange Commission (SEC) issued a warning to the country's investors stating that Binance is not a licensed digital asset operator in this country. Therefore, its users will not be protected by Thailand's law. The regulator sent a letter to the major exchange and to "the relevant parties to clarify the information" about the company. When contacted by Cryptonews, Binance refused to comment on the topic, stating that they "don't disclose our conversations with regulators."
CBDC news
A group of the world’s seven major central banks (including the US Federal Reserve and the European Central Bank) has scope to set common rules and platforms for their own digital currencies that could lay the groundwork for more efficient cross-border payments, said Kazushige Kamiyama, head of the Bank of Japan (BOJ)’s department overseeing the development of a central bank digital currency (CBDC). Per Reuters, as the role a CBDC plays differs for advanced nations with a robust banking system and emerging economies that can use CBDCs to make up for shortfalls in their financial infrastructure, said Kamiyama, it's "better to come up with common rules among countries with similar economic structures."
DeFi news
Coinbase joined the DeFi Alliance, an open association that provides mentorship and funding for early stage tech teams working in the decentralized finance (DeFi) sector, they said. The DeFi Alliance has more than 60 member companies. They recently announced their first fund, DeFi Alliance Fund I, seeded by Alliance members and led by the founding partners along with billionaire entrepreneur Mark Cuban.
Ethereum Fees Decline as Analysts Point to Bots as Cause.
Ethereum (ETH) average transaction fees have plunged by as much as 50% in two weeks, falling from a fourteen-day high of USD 22.9 to a low of USD 11.4 on April 11, before increasing again. Analysts have pinned the fall on a shift in the types of bots used by traders, with flashbots replacing the priority gas auction (PGA) bots that tend to increase Ethereum fees by bidding up gas prices.
Other potential factors highlighted by commentators include the possibility that users are moving from Ethereum to Binance Smart Chain (BSC), as well as a general drop in usage.
However, while Ethereum gas prices have declined in recent days, they still remain high by historical standards, even when accounting for the rising value of ETH. Also, as ETH hit another all-time high against USD today, the gas prices spiked again.
Ethereum fees decline = new trading bots?
At the end of February, Ethereum transaction fees hit an all-time high of USD 38, as demand for non-fungible tokens (NFTs) and the ongoing popularity of decentralized finance (DeFi) platforms pushed network traffic to new heights.
Fees then dipped in early March, but proceeded to rise again, pushing to USD 22.9 on March 31.
Since then — and particularly in the past seven days — they seem to be in something of a mini-freefall. Not only did they hit an average of USD 11.4 on April 11, but Etherscan put the average gas price (in gwei) at 85 on April 11, while ethereumprice put it at a low of 65 today before it jumped again.
The word on crypto Twitter (and elsewhere on the web) is that this drop in gas prices is due to change in bots used by traders and miners.
Traders have reportedly begun dumping PGA bots and shifting to flashbots. Standing for 'priority gas auction,' PGA bots are used by arbitrage traders to monitor their competitors’ behavior and bid up their own gas prices in order to get priority treatment (i.e. to get to the front of the transaction queue). In other words, they cause fees to go: up.
Ethereum (ETH) average transaction fees have plunged by as much as 50% in two weeks, falling from a fourteen-day high of USD 22.9 to a low of USD 11.4 on April 11, before increasing again. Analysts have pinned the fall on a shift in the types of bots used by traders, with flashbots replacing the priority gas auction (PGA) bots that tend to increase Ethereum fees by bidding up gas prices.
Other potential factors highlighted by commentators include the possibility that users are moving from Ethereum to Binance Smart Chain (BSC), as well as a general drop in usage.
However, while Ethereum gas prices have declined in recent days, they still remain high by historical standards, even when accounting for the rising value of ETH. Also, as ETH hit another all-time high against USD today, the gas prices spiked again.
Ethereum fees decline = new trading bots?
At the end of February, Ethereum transaction fees hit an all-time high of USD 38, as demand for non-fungible tokens (NFTs) and the ongoing popularity of decentralized finance (DeFi) platforms pushed network traffic to new heights.
Fees then dipped in early March, but proceeded to rise again, pushing to USD 22.9 on March 31.
Since then — and particularly in the past seven days — they seem to be in something of a mini-freefall. Not only did they hit an average of USD 11.4 on April 11, but Etherscan put the average gas price (in gwei) at 85 on April 11, while ethereumprice put it at a low of 65 today before it jumped again.
The word on crypto Twitter (and elsewhere on the web) is that this drop in gas prices is due to change in bots used by traders and miners.
Traders have reportedly begun dumping PGA bots and shifting to flashbots. Standing for 'priority gas auction,' PGA bots are used by arbitrage traders to monitor their competitors’ behavior and bid up their own gas prices in order to get priority treatment (i.e. to get to the front of the transaction queue). In other words, they cause fees to go: up.
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https://twitter.com/officialLPNT
https://www.instagram.com/lpntokenofficial/
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💠SwissQuote, GBE PRIME and Saxo Bank are the liquidity providers for LPN TOKEN. As far as the technology support is concerned, the credit goes to the NFX Technologies LLC based in Dubai, sister company of LPN TOKEN.
The token has successfully added multiple feathers to its cap so far. The list includes but is not limited to the following only:
• Successfully achieved the target of selling 15 million LPN TOKENS.
• The token is trading on PROBIT, an internationally reputed digital currency exchange ranked 26th in the world.
• Pairing of LPNT with ETH, BTC and USDT.
💠LPNT has achieved all these feats because of an effective strategy devised and executed for growth in the market. The application of effective utilization, circulation and demand and supply, three basic rules of economics.
💠This is why LPN TOKEN is already being utilized and circulated on many platforms already. The team LPNT plans on taking the utilization, circulation and demand and supply to the next level by manifolds. This could be possible only with the help of its attributes like a decentralized cryptocurrency wallet, vault, forex trading and decentralized payment gateway.
Coming to the point, LPNT is introducing MT-5 forex trading solutions to revolutionise the forex experience for traders. All registered LPNT users will 200% leverage on their platform.
For more information about anything related to the token, either visit our official
website :- www.lpntoken.io
https://twitter.com/officialLPNT
https://www.instagram.com/lpntokenofficial/
https://t.me/LPNT_Official
Gaming Giant WeMade Wants to Buy Bithumb – Report.
Another South Korean gaming giant has been linked with a possible deal to take over Bithumb, one of the country’s biggest crypto exchanges.
Per a report from Chosun, WeMade, the firm behind the Legend of Mir series, is the latest to express an interest in buying a stake in the crypto trading platform, whose biggest shareholder put his shares up for sale last year by the brokerage Samjong KPMG.
Chosun reported that interest from the rival gamemaker Nexon’s holding company NXC had become “sluggish,” as had interest from the internet heavyweight Naver and global crypto exchange leader Binance, but that WeMade had “emerged as a dark horse” in the race to buy Bithumb.
The media outlet quoted an unnamed investment banking insider as stating that “foreign financial companies that have tried to take over have since withdrawn from the negotiation table.”
The newspaper claimed its sources had confirmed WeMade was exploring a range of options, which could involve a purchase of main shareholder Lee Jung-hoon’s stake (between 60% and 70%) in addition to a minority stake of around 10%-12% owned by the video hardware retailer Vidente.
Lee is thought to be holding out for a bid of USD 628m, although interested parties only appear prepared to spend in the region of USD 448m.
WeMade has told multiple South Korean news outlets, including Asia Kyungjae, that it had no comment to make on the reports, while a spokesperson for WeMade Tree, the gaming firm’s blockchain subsidiary.
A previous report linking a third domestic gaming giant – NCSoft – to a deal for Bithumb proved wide of the mark.
However, WeMade, and in particular its WeMadeTree subsidiary, has stepped up its crypto operations in recent months. The latter operates a crytoasset that is listed on multiple exchanges both domestically and abroad, and has spoken about launching a crypto trading platform. The firm has also released blockchain gaming titles that make use of tradable currencies.
The WeMade Tree trading platform will, the company has indicated, perform as a marketplace where gamers can buy and sell in-game items, including non-fungible tokens (NFTs).
Chosun reported that a stumbling block for the deal may be the fact that Lee is looking to make a cash sale, while WeMade does not have enough liquid assets to make this happen. An unnamed industry insider stated that WeMade could attempt to get around this by attempting to organize a buying consortium.
Another South Korean gaming giant has been linked with a possible deal to take over Bithumb, one of the country’s biggest crypto exchanges.
Per a report from Chosun, WeMade, the firm behind the Legend of Mir series, is the latest to express an interest in buying a stake in the crypto trading platform, whose biggest shareholder put his shares up for sale last year by the brokerage Samjong KPMG.
Chosun reported that interest from the rival gamemaker Nexon’s holding company NXC had become “sluggish,” as had interest from the internet heavyweight Naver and global crypto exchange leader Binance, but that WeMade had “emerged as a dark horse” in the race to buy Bithumb.
The media outlet quoted an unnamed investment banking insider as stating that “foreign financial companies that have tried to take over have since withdrawn from the negotiation table.”
The newspaper claimed its sources had confirmed WeMade was exploring a range of options, which could involve a purchase of main shareholder Lee Jung-hoon’s stake (between 60% and 70%) in addition to a minority stake of around 10%-12% owned by the video hardware retailer Vidente.
Lee is thought to be holding out for a bid of USD 628m, although interested parties only appear prepared to spend in the region of USD 448m.
WeMade has told multiple South Korean news outlets, including Asia Kyungjae, that it had no comment to make on the reports, while a spokesperson for WeMade Tree, the gaming firm’s blockchain subsidiary.
A previous report linking a third domestic gaming giant – NCSoft – to a deal for Bithumb proved wide of the mark.
However, WeMade, and in particular its WeMadeTree subsidiary, has stepped up its crypto operations in recent months. The latter operates a crytoasset that is listed on multiple exchanges both domestically and abroad, and has spoken about launching a crypto trading platform. The firm has also released blockchain gaming titles that make use of tradable currencies.
The WeMade Tree trading platform will, the company has indicated, perform as a marketplace where gamers can buy and sell in-game items, including non-fungible tokens (NFTs).
Chosun reported that a stumbling block for the deal may be the fact that Lee is looking to make a cash sale, while WeMade does not have enough liquid assets to make this happen. An unnamed industry insider stated that WeMade could attempt to get around this by attempting to organize a buying consortium.
🎯 100x Gains Incoming? DFY is about to list on HotBit.
This new DeFi and NFT project has the potential to grow exponentially in the coming months.
The DeFi For You (DFY) platform lets users offer and receive peer-to-peer loans, staking crypto or NFTs as collateral. The project is run by the former founder and tech team leader of Travala (AVA), and is already gaining traction since its IDO in January.
DeFi and NFTs have been the hottest things in crypto in 2021 and for good reason. Both sectors have the potential to create massive real-world change, allowing millions of underbanked to receive access to loans, and changing the way we verify ownership on the blockchain.
🦾 DeFi For You combines these two powerful trends to create something that the everyday person can access and use to make passive income.
Don't miss out on DFY's HotBit listing!
Getting into a project early and hodling is the best way to make those massive 100x gains!
Follow:
🚩 Twitter
🚩 Telegram
This new DeFi and NFT project has the potential to grow exponentially in the coming months.
The DeFi For You (DFY) platform lets users offer and receive peer-to-peer loans, staking crypto or NFTs as collateral. The project is run by the former founder and tech team leader of Travala (AVA), and is already gaining traction since its IDO in January.
DeFi and NFTs have been the hottest things in crypto in 2021 and for good reason. Both sectors have the potential to create massive real-world change, allowing millions of underbanked to receive access to loans, and changing the way we verify ownership on the blockchain.
🦾 DeFi For You combines these two powerful trends to create something that the everyday person can access and use to make passive income.
Don't miss out on DFY's HotBit listing!
Getting into a project early and hodling is the best way to make those massive 100x gains!
Follow:
🚩 Telegram
Bahamas, Cambodia, China Lead Global CBDC Race, UK Launches Taskforce.
The Bahamas, Cambodia, and China are the three countries with the most mature central bank digital currency (CBDC) projects, as only 23% of the world’s retail projects have reached the implementation stage, and close to 70% of wholesale projects are in pilot program phase, according to international consultancy PwC. Meanwhile, today, the Bank of England (BoE) and Her Majesty’s Treasury announced the joint creation of a new Taskforce to coordinate work on the potential UK CBDC.
The Bahamas and Cambodia secured top positions on the podium as their respective CBDC projects are live, while China is currently testing its digital yuan project. More than 88% of the world’s CBDC projects that are currently in the pilot or production phase use blockchain technology, according to data from the report, which was obtained by Bloomberg.
“CBDCs will contribute significantly to the modernization of the international monetary landscape, hand-in-hand with reconfiguration in both payment and financial infrastructure,” according to PwC, who estimates that this new type of money will generate new opportunities for further digitization in both corporates and financial institutions.
Within the field of interbank or wholesale projects, Thailand and Hong Kong were tied for the top spot, followed by Singapore, Canada, and the UK, PwC said.
The central bank also said it will establish a CBDC Unit that will lead its internal exploration around CBDC and external engagement on CBDC.
The BoE and the Treasury stressed that they have not yet made a decision on whether to introduce a CBDC in the UK, and they "will engage widely with stakeholders on the benefits, risks and practicalities of doing so."
Per the announcement, a CBDC would be a new form of digital money issued by the Bank of England and for use by households and businesses. "It would exist alongside cash and bank deposits, rather than replacing them," they said.
Meanwhile, per the PwC report, other large economies, such as the US and the European Union, have lagged behind, but recent statements by decision-makers indicate that the European and American CBDC projects could gain traction amid increasing pressure from China and its digital yuan initiative.
Also, motivations behind the countries’ respective CBDC efforts vary, with some countries declaring they want to use such currencies to increase their populations’ financial inclusion, and others aiming to use them as a source of enhanced control over their monetary policies.
The Bahamas, Cambodia, and China are the three countries with the most mature central bank digital currency (CBDC) projects, as only 23% of the world’s retail projects have reached the implementation stage, and close to 70% of wholesale projects are in pilot program phase, according to international consultancy PwC. Meanwhile, today, the Bank of England (BoE) and Her Majesty’s Treasury announced the joint creation of a new Taskforce to coordinate work on the potential UK CBDC.
The Bahamas and Cambodia secured top positions on the podium as their respective CBDC projects are live, while China is currently testing its digital yuan project. More than 88% of the world’s CBDC projects that are currently in the pilot or production phase use blockchain technology, according to data from the report, which was obtained by Bloomberg.
“CBDCs will contribute significantly to the modernization of the international monetary landscape, hand-in-hand with reconfiguration in both payment and financial infrastructure,” according to PwC, who estimates that this new type of money will generate new opportunities for further digitization in both corporates and financial institutions.
Within the field of interbank or wholesale projects, Thailand and Hong Kong were tied for the top spot, followed by Singapore, Canada, and the UK, PwC said.
The central bank also said it will establish a CBDC Unit that will lead its internal exploration around CBDC and external engagement on CBDC.
The BoE and the Treasury stressed that they have not yet made a decision on whether to introduce a CBDC in the UK, and they "will engage widely with stakeholders on the benefits, risks and practicalities of doing so."
Per the announcement, a CBDC would be a new form of digital money issued by the Bank of England and for use by households and businesses. "It would exist alongside cash and bank deposits, rather than replacing them," they said.
Meanwhile, per the PwC report, other large economies, such as the US and the European Union, have lagged behind, but recent statements by decision-makers indicate that the European and American CBDC projects could gain traction amid increasing pressure from China and its digital yuan initiative.
Also, motivations behind the countries’ respective CBDC efforts vary, with some countries declaring they want to use such currencies to increase their populations’ financial inclusion, and others aiming to use them as a source of enhanced control over their monetary policies.
Thodex Users File Complaints Alleging Fraud as CEO Flees the Country.
Turkish crypto traders have reportedly filed thousands of criminal complaints against local crypto exchange Thodex alleging fraud, while its head had reportedly fled the country.
The lawyer representing the users said that the complaints were filed after the users were unable to access their accounts or withdraw their money, reported Reuters.
Lawyer Oguz Evren Kilic said he was contacted by users on Wednesday who filed a criminal complaint on behalf of several people in Ankara, while thousands of others had also filed complaints across the country.
“It is not clear where this is headed," he told Reuters. "There have been thousands of criminal complaints made in many places around Turkey,” adding that the platform had 400,000 users, 391,000 of whom were active. “We will file a case with the consumer court right away. The two processes - criminal complaints and the case - will run simultaneously,” Kilic said.
Per Bloomberg, the lawyer claimed that with this number of active users, assets that remain “irretrievable” may be worth hundreds of millions of dollars.
The trading volume on Thodex was USD 744.9m on April 21, down from 1.39bn recorded five days prior, according to CoinGecko.
The lawyer also said that a preliminary assessment by police showed Thodex CEO Faruk Fatih Ozer had flown out of the country on Tuesday, with the users worried that he took with him the money meant for trading on the platform. Ozer was reportedly seen in Albania.
As reported, Thodex abruptly halted trading on Wednesday citing an unspecified partnership transaction, spurring complaints from users who can’t access their digital assets. Services are said to be shut for approximately five working days while the share transfer is completed, but the exchange said that users needn’t worry about their investments.
An Istanbul prosecutor’s office said it has launched an investigation into the company due to claims that it had led to the “aggrievement of many citizens,” per Reuters.
The Turkish government should take action as soon as possible, Cemil Ertem, senior economic adviser to President Recep Tayyip Erdogan, told Bloomberg. “Pyramid schemes are being established in this area. Turkey will undoubtedly carry out a regulation that’s in line with its economy but also by following global developments.”
But Kilic is quoted as saying that “we said in meetings with various government authorities that a digital asset law should be made and legal regulations should be created. You cannot do anything with bans in this age.”
Last week, Turkey banned the use of crypto assets for payments, claiming that tokens entail significant risks due to volatile market values, irrevocable transactions and can be used to fund illicit behavior.
Turkish crypto traders have reportedly filed thousands of criminal complaints against local crypto exchange Thodex alleging fraud, while its head had reportedly fled the country.
The lawyer representing the users said that the complaints were filed after the users were unable to access their accounts or withdraw their money, reported Reuters.
Lawyer Oguz Evren Kilic said he was contacted by users on Wednesday who filed a criminal complaint on behalf of several people in Ankara, while thousands of others had also filed complaints across the country.
“It is not clear where this is headed," he told Reuters. "There have been thousands of criminal complaints made in many places around Turkey,” adding that the platform had 400,000 users, 391,000 of whom were active. “We will file a case with the consumer court right away. The two processes - criminal complaints and the case - will run simultaneously,” Kilic said.
Per Bloomberg, the lawyer claimed that with this number of active users, assets that remain “irretrievable” may be worth hundreds of millions of dollars.
The trading volume on Thodex was USD 744.9m on April 21, down from 1.39bn recorded five days prior, according to CoinGecko.
The lawyer also said that a preliminary assessment by police showed Thodex CEO Faruk Fatih Ozer had flown out of the country on Tuesday, with the users worried that he took with him the money meant for trading on the platform. Ozer was reportedly seen in Albania.
As reported, Thodex abruptly halted trading on Wednesday citing an unspecified partnership transaction, spurring complaints from users who can’t access their digital assets. Services are said to be shut for approximately five working days while the share transfer is completed, but the exchange said that users needn’t worry about their investments.
An Istanbul prosecutor’s office said it has launched an investigation into the company due to claims that it had led to the “aggrievement of many citizens,” per Reuters.
The Turkish government should take action as soon as possible, Cemil Ertem, senior economic adviser to President Recep Tayyip Erdogan, told Bloomberg. “Pyramid schemes are being established in this area. Turkey will undoubtedly carry out a regulation that’s in line with its economy but also by following global developments.”
But Kilic is quoted as saying that “we said in meetings with various government authorities that a digital asset law should be made and legal regulations should be created. You cannot do anything with bans in this age.”
Last week, Turkey banned the use of crypto assets for payments, claiming that tokens entail significant risks due to volatile market values, irrevocable transactions and can be used to fund illicit behavior.
🚀🚀PIXL - MOONSHOT🚀🚀
PIXL is aiming to lead the blockchain industry in advertising by partnering with other crypto currencies - both old and new.
The partnerships will bring further investments into PIXL, increasing the value for all holders.
🌟TOKENOMICS🌟
5% automatically distributed to coin holders 🌟
5% distributed to LP 🌟
Liquidity locked for 5 years 🌟
No dev wallets 🌟
Completely rug-proof! 🌟
Ownership Renounced 🌟
🌟ACHIEVEMENTS first 6 days🌟
2400+ holders ✅
Audit fully complete - 100% pass in all areas ✅
CoinGecko Application has been submitted ✅
Unirocket price bot up and running ✅
1st video AMA completed ✅
$5M+ MarketCap ✅
AUDIT results: https://solidity.finance/audits/PIXL/
Website - https://pixl.one
Telegram: @PIXLCoin
Twitter: https://twitter.com/pixlcoin
Youtube: https://www.youtube.com/channel/UCapfVtQNmR444PAw8ufLK_w
Instagram: https://www.instagram.com/Pixl_Crypto_Official/
PIXL is aiming to lead the blockchain industry in advertising by partnering with other crypto currencies - both old and new.
The partnerships will bring further investments into PIXL, increasing the value for all holders.
🌟TOKENOMICS🌟
5% automatically distributed to coin holders 🌟
5% distributed to LP 🌟
Liquidity locked for 5 years 🌟
No dev wallets 🌟
Completely rug-proof! 🌟
Ownership Renounced 🌟
🌟ACHIEVEMENTS first 6 days🌟
2400+ holders ✅
Audit fully complete - 100% pass in all areas ✅
CoinGecko Application has been submitted ✅
Unirocket price bot up and running ✅
1st video AMA completed ✅
$5M+ MarketCap ✅
AUDIT results: https://solidity.finance/audits/PIXL/
Website - https://pixl.one
Telegram: @PIXLCoin
Twitter: https://twitter.com/pixlcoin
Youtube: https://www.youtube.com/channel/UCapfVtQNmR444PAw8ufLK_w
Instagram: https://www.instagram.com/Pixl_Crypto_Official/
Ethereum Won't Hide From Quantum Computers Behind PoS Shield.
Quantum computing has long been regarded as Bitcoin (BTC)’s ‘bogeyman.’ The popular fear is that, as secure as Bitcoin and other proof-of-work cryptoassets are in terms of standard cryptography, quantum computers could provide additional means of breaking them.
One other popular assumption is that, because they don’t use PoW, proof-of-stake cryptoassets such as Cardano (ADA), Polkadot (DOT), and Tron (TRX) (and eventually, Ethereum (ETH)) aren’t as vulnerable to quantum computing attacks as networks like Bitcoin, Bitcoin Cash (BCH) and Litecoin (LTC). However, according to a variety of computer scientists and crypto experts, it’s not the consensus mechanism of a coin which creates the biggest risk in terms of quantum computers, but rather the signature system.
In other words, given that the vast majority of PoS cryptoassets also use (non-quantum) cryptographic signature systems to sign individual transactions, they’re nearly as vulnerable to quantum hacks as their PoW rivals. That said, the advent of sufficiently powerful quantum computers is still some way off, while their emergence is likely to incentivize a widespread shift to post-quantum cryptography.
It’s the first mechanism that affects PoW more than PoS, with Bitcoin and other proof-of-work coins theoretically vulnerable to a quantum computer-driven 51% attack.
That said, Marek Narożniak — a physics PhD student at New York University who has worked with Prof. Tim Byrne on research into quantum computing — explains that talk of a 51% attack perpetrated by quantum computers still remains theoretical.
“If someone has a sufficiently large quantum computer and wishes to perform a 51% attack — consisting of outperforming remaining miners and producing invalid blocks — it would have to be a really massive quantum machine. The reason for that is that Bitcoin's proof-of-work is based on a hashing function for which there is no known efficient quantum algorithm that can reverse it,”.
But while Bitcoin’s weakness compared to PoS cryptoassets is still pretty hypothetical, quantum computing poses another threat that concerns PoS and PoW in equal measure.
“Even if consensus requires no cryptographic ‘work’ in the case of PoS it still does rely on cryptography which is currently mainly based on elliptic curves which are vulnerable to quantum algorithms. An attacker with sufficiently powerful quantum computers could break other validators signatures and still mess with the consensus,” said Narożniak.
This is a concern echoed by other commentators. In an analysis published by Deloitte, Bram Bosch wrote that around four million bitcoins are stored in addresses that use p2pk and p2pkh scripting, which is vulnerable to attacks via quantum computers.
Quantum computing has long been regarded as Bitcoin (BTC)’s ‘bogeyman.’ The popular fear is that, as secure as Bitcoin and other proof-of-work cryptoassets are in terms of standard cryptography, quantum computers could provide additional means of breaking them.
One other popular assumption is that, because they don’t use PoW, proof-of-stake cryptoassets such as Cardano (ADA), Polkadot (DOT), and Tron (TRX) (and eventually, Ethereum (ETH)) aren’t as vulnerable to quantum computing attacks as networks like Bitcoin, Bitcoin Cash (BCH) and Litecoin (LTC). However, according to a variety of computer scientists and crypto experts, it’s not the consensus mechanism of a coin which creates the biggest risk in terms of quantum computers, but rather the signature system.
In other words, given that the vast majority of PoS cryptoassets also use (non-quantum) cryptographic signature systems to sign individual transactions, they’re nearly as vulnerable to quantum hacks as their PoW rivals. That said, the advent of sufficiently powerful quantum computers is still some way off, while their emergence is likely to incentivize a widespread shift to post-quantum cryptography.
It’s the first mechanism that affects PoW more than PoS, with Bitcoin and other proof-of-work coins theoretically vulnerable to a quantum computer-driven 51% attack.
That said, Marek Narożniak — a physics PhD student at New York University who has worked with Prof. Tim Byrne on research into quantum computing — explains that talk of a 51% attack perpetrated by quantum computers still remains theoretical.
“If someone has a sufficiently large quantum computer and wishes to perform a 51% attack — consisting of outperforming remaining miners and producing invalid blocks — it would have to be a really massive quantum machine. The reason for that is that Bitcoin's proof-of-work is based on a hashing function for which there is no known efficient quantum algorithm that can reverse it,”.
But while Bitcoin’s weakness compared to PoS cryptoassets is still pretty hypothetical, quantum computing poses another threat that concerns PoS and PoW in equal measure.
“Even if consensus requires no cryptographic ‘work’ in the case of PoS it still does rely on cryptography which is currently mainly based on elliptic curves which are vulnerable to quantum algorithms. An attacker with sufficiently powerful quantum computers could break other validators signatures and still mess with the consensus,” said Narożniak.
This is a concern echoed by other commentators. In an analysis published by Deloitte, Bram Bosch wrote that around four million bitcoins are stored in addresses that use p2pk and p2pkh scripting, which is vulnerable to attacks via quantum computers.
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VIEW IN TELEGRAM
🔥HAPI @hapiHF will be one of the main partners of The BIGGEST Solana Hackathon YET. With Dona Mara as one of the main judges 🔥
🎉This incredible news mean that HAPI will be one of the invited guests on Solana Hackathon with Dyma Budorin and Dona Mara as main judges.
👉Further solidifying and consolidating our relationships with Solana
----------------------------------------------------
💰 TOTAL PRIZE POOL (Including grants): 1 000 000$
🟥 And special Prize from the Dona himself: 25 000$
✈️ GLOBAL PARTICIPATION: Yes. Hackathon will take place online
🗓 DATE: 15 May - 7 June 2021 (3 weeks in total)
-----------------------------------------------------
🔸What is Hackathon Solana Season?
The basic principles of Solana Hackathon are development of Solana ecosystem via facilitation of ideas and technological advancements on Solana blockchain.
------------------------------------------------------
📓 To know more about The Biggest Solana Hackathon yet visit solana.com/hackathon
🎉This incredible news mean that HAPI will be one of the invited guests on Solana Hackathon with Dyma Budorin and Dona Mara as main judges.
👉Further solidifying and consolidating our relationships with Solana
----------------------------------------------------
💰 TOTAL PRIZE POOL (Including grants): 1 000 000$
🟥 And special Prize from the Dona himself: 25 000$
✈️ GLOBAL PARTICIPATION: Yes. Hackathon will take place online
🗓 DATE: 15 May - 7 June 2021 (3 weeks in total)
-----------------------------------------------------
🔸What is Hackathon Solana Season?
The basic principles of Solana Hackathon are development of Solana ecosystem via facilitation of ideas and technological advancements on Solana blockchain.
------------------------------------------------------
📓 To know more about The Biggest Solana Hackathon yet visit solana.com/hackathon
Someone Paid USD 1.7M In Litecoin For Tom Brady Football Card.
In what is called one of the largest "hard asset" transactions to be paid entirely in cryptocurrency, an unknown buyer purchased an autographed Tom Brady football card for about USD 1.68m worth of litecoin (LTC) at an auction hosted by Goldin Auctions.
The auction house says this marks the most expensive item to be paid in crypto since the company began to accept this form of payment last month.
“The hobby is undergoing incredible growth unlike anything I have seen in my 40+ years in the industry,” Ken Goldin, Founder of Goldin Auctions, told Sports Collectors Daily.
“What’s amazing to see is that the same thing is playing out with crypto. Trading cards and crypto are now two of the most rapidly growing alternative asset classes and we know there is a lot of overlap between the communities. We believe this may be one of the most expensive hard assets ever paid for in crypto,” he was quoted as saying.
Tyler Winklevoss, CEO and co-founder of Gemini, said that the 2000 Playoff Contenders card featuring Tom Brady, who was at that time a rookie drafted by the New England Patriots where he would spend a total of 20 seasons, was sold in partnership with his crypto exchange.
The card is “known as the "Holy Grail" of the collecting industry,” Winklevoss said.
This said, the item is not the most expensive card of this type to be bought at an auction. Earlier this month, a similar card autographed by the American athlete was sold for more than USD 2.25m at an auction hosted by Lelands Auctions. Both cards had a card grade of 8.5 out of 10, but the card auctioned by Lelands had a slightly lower autograph grade of 9 out of 10, compared with 10 out of 10 for the card purchased with litecoin.
At 09:58 UTC, LTC, ranked 10th by market capitalization, trades at USD 258 and is up by 2% in a day. The price is down by almost 1% in a week, trimming its monthly gains to 33%.
In what is called one of the largest "hard asset" transactions to be paid entirely in cryptocurrency, an unknown buyer purchased an autographed Tom Brady football card for about USD 1.68m worth of litecoin (LTC) at an auction hosted by Goldin Auctions.
The auction house says this marks the most expensive item to be paid in crypto since the company began to accept this form of payment last month.
“The hobby is undergoing incredible growth unlike anything I have seen in my 40+ years in the industry,” Ken Goldin, Founder of Goldin Auctions, told Sports Collectors Daily.
“What’s amazing to see is that the same thing is playing out with crypto. Trading cards and crypto are now two of the most rapidly growing alternative asset classes and we know there is a lot of overlap between the communities. We believe this may be one of the most expensive hard assets ever paid for in crypto,” he was quoted as saying.
Tyler Winklevoss, CEO and co-founder of Gemini, said that the 2000 Playoff Contenders card featuring Tom Brady, who was at that time a rookie drafted by the New England Patriots where he would spend a total of 20 seasons, was sold in partnership with his crypto exchange.
The card is “known as the "Holy Grail" of the collecting industry,” Winklevoss said.
This said, the item is not the most expensive card of this type to be bought at an auction. Earlier this month, a similar card autographed by the American athlete was sold for more than USD 2.25m at an auction hosted by Lelands Auctions. Both cards had a card grade of 8.5 out of 10, but the card auctioned by Lelands had a slightly lower autograph grade of 9 out of 10, compared with 10 out of 10 for the card purchased with litecoin.
At 09:58 UTC, LTC, ranked 10th by market capitalization, trades at USD 258 and is up by 2% in a day. The price is down by almost 1% in a week, trimming its monthly gains to 33%.
🤝 Currency.com announces a partnership with TradingView
Regulated tokenized asset exchange Currency.com has signed a partnership with TradingView, one of the world’s largest trading communities. Now Currency.com users can access TradingView charts directly from their dashboard, allowing them to analyze the market conditions faster and take more informed decisions.
Moreover, Currency.com customers will be able to share their ideas and strategies with other traders in real time, while TradingView users will be able to trade on Currency.com with minimal spreads and low fees.
Currency.com supports over 2,000 tokenized assets that you can buy, sell, and trade with a leverage up to x100, including:
- Tokenized shares
- Tokenized indices
- Tokenized ETFs
- Tokenized commodities
- Tokenized currencies
- Major cryptocurrencies.
Register and trade on Currency.com!
Regulated tokenized asset exchange Currency.com has signed a partnership with TradingView, one of the world’s largest trading communities. Now Currency.com users can access TradingView charts directly from their dashboard, allowing them to analyze the market conditions faster and take more informed decisions.
Moreover, Currency.com customers will be able to share their ideas and strategies with other traders in real time, while TradingView users will be able to trade on Currency.com with minimal spreads and low fees.
Currency.com supports over 2,000 tokenized assets that you can buy, sell, and trade with a leverage up to x100, including:
- Tokenized shares
- Tokenized indices
- Tokenized ETFs
- Tokenized commodities
- Tokenized currencies
- Major cryptocurrencies.
Register and trade on Currency.com!
Are Wall Street Giants Playing the 'Make-Bitcoin-Cheaper' Game Again?
It seems that the Wall Street actors may be playing the same game seen in January - bashing bitcoin (BTC) when it looks relatively weak, while and/or before doing their own BTC-related move. We saw this from JPMorgan and Guggenheim Partners earlier, and now it's Goldman Sachs.
This week, US-based investment giant Goldman Sachs said that the competition from other cryptoassets, energy use, and lack of use cases are among the concerns surrounding bitcoin's long-term store of value demand.
It is too early for bitcoin to compete with gold for safe-haven demand, said the bank, but the two can co-exist, as Reuters reported. It added that the extensive energy use made it vulnerable to losing its store of value demand to a "better-designed" contender.
"While Bitcoin benefits from greater liquidity, it suffers from lack of real use and weak environmental, social, governance (ESG) scoring, due to its high energy consumption," the banks is quoted as saying. "The only way this record-sized and fast approaching supply crunch can be solved is via a surge in price to new record highs."
Furthermore, in the same note, Jeffrey Currie, Goldman's head of commodities research, said, per Kitco, that BTC "gave ground to other cryptocurrencies such as ether and altcoins. This, in our view, underscores the fact that competition among cryptocurrencies for the status of dominant long-term store of value is still on and adds an additional source of risk to holding bitcoin."
Just a month ago, it was reported that Goldman Sachs aims to offer its first investment vehicles for bitcoin and other unspecified digital assets to clients of its private wealth management group in the second quarter of this year. Some of the clients were reportedly considering BTC to be a hedge against inflation.
The bank also offers a crypto trading desk and is dealing BTC futures and non-deliverable forwards for their clients.
Furthermore, earlier in March, Goldman said it saw rising demand for BTC not only among institutional investors, but also in the private wealth management industry.
The company has delivered several relatively favorable views on crypto over the years. In late November 2017, Currie said that BTC was a commodity with many similarities to gold, and that the volatility that concerned investors stemmed mainly from its lack of liquidity. "I don’t see why there is all this hostility to it," Currie told Bloomberg back then. BTC is "not much different than gold." He added though that the "real innovation" is in the ledger, not in BTC itself.
In January this year, Currie stated that bitcoin was showing signs of maturity, but that the level of institutional investment in it was still very small - more is needed for it to stabilize. BTC had a market value of above USD 600bn at the time and over USD 1trn today. "That can give you some long-run equilibrium," Currie told CNBC. But the level of volatility and uncertainty in the market "makes it very difficult to forecast it."
It seems that the Wall Street actors may be playing the same game seen in January - bashing bitcoin (BTC) when it looks relatively weak, while and/or before doing their own BTC-related move. We saw this from JPMorgan and Guggenheim Partners earlier, and now it's Goldman Sachs.
This week, US-based investment giant Goldman Sachs said that the competition from other cryptoassets, energy use, and lack of use cases are among the concerns surrounding bitcoin's long-term store of value demand.
It is too early for bitcoin to compete with gold for safe-haven demand, said the bank, but the two can co-exist, as Reuters reported. It added that the extensive energy use made it vulnerable to losing its store of value demand to a "better-designed" contender.
"While Bitcoin benefits from greater liquidity, it suffers from lack of real use and weak environmental, social, governance (ESG) scoring, due to its high energy consumption," the banks is quoted as saying. "The only way this record-sized and fast approaching supply crunch can be solved is via a surge in price to new record highs."
Furthermore, in the same note, Jeffrey Currie, Goldman's head of commodities research, said, per Kitco, that BTC "gave ground to other cryptocurrencies such as ether and altcoins. This, in our view, underscores the fact that competition among cryptocurrencies for the status of dominant long-term store of value is still on and adds an additional source of risk to holding bitcoin."
Just a month ago, it was reported that Goldman Sachs aims to offer its first investment vehicles for bitcoin and other unspecified digital assets to clients of its private wealth management group in the second quarter of this year. Some of the clients were reportedly considering BTC to be a hedge against inflation.
The bank also offers a crypto trading desk and is dealing BTC futures and non-deliverable forwards for their clients.
Furthermore, earlier in March, Goldman said it saw rising demand for BTC not only among institutional investors, but also in the private wealth management industry.
The company has delivered several relatively favorable views on crypto over the years. In late November 2017, Currie said that BTC was a commodity with many similarities to gold, and that the volatility that concerned investors stemmed mainly from its lack of liquidity. "I don’t see why there is all this hostility to it," Currie told Bloomberg back then. BTC is "not much different than gold." He added though that the "real innovation" is in the ledger, not in BTC itself.
In January this year, Currie stated that bitcoin was showing signs of maturity, but that the level of institutional investment in it was still very small - more is needed for it to stabilize. BTC had a market value of above USD 600bn at the time and over USD 1trn today. "That can give you some long-run equilibrium," Currie told CNBC. But the level of volatility and uncertainty in the market "makes it very difficult to forecast it."
South Korean Crypto Tax U-Turn Looking Unlikely, Despite Outcry.
Despite the recent outcry about crypto tax among younger South Koreans, a new small survey has found that most of the respondents are in favor of imposing taxes on crypto traders’ profits.
Per Segye Ilbo and Chosun, the survey quizzed 500 people aged 18 and over nationwide and was commissioned by the media network YTN and conducted by Real Meter.
And almost one in six respondents said they were in favor of the introduction of taxes – in line with the government’s plans. A new act on crypto taxes is set to come into force on January 1 next year. Less than 40% said they disagreed, with just 8% undecided on the matter.
And there appeared to be a firm gender divide on the issue. Despite a small army of South Korean crypto moms rushing into the crypto market, some 60% of female respondents said they backed taxes. Respondents aged in the forties were the demographic group most in favor of the tax measures, with over 62% backing the bill.
The measure has proven to be so decisive that it has sent the government into a spin, with some senior lawmakers saying that there is no going back on the tax plans – which will see higher-earning crypto traders forced to pay capital gains tax bills of 20% on their profits. But other figures from the ruling Democratic Party – afraid that a massive surge in online ire from the “2030” demographic (people aged 20-39) will turn on the party in the polls in next March’s general elections.
Some Democrat lawmakers have suggested conciliatory actions and have even talked vaguely about the possibility of delaying or amending the bill prior to promulgation. The main opposition party, meanwhile, has launched a “crypto taskforce” and has berated the Democratic Party for “betraying” young crypto-keen citizens.
But the survey appeared to show that not all people in their 20s are pinning their hopes on crypto riches: While 48% of twentysomethings respondents said they wanted the tax plans scrapped, 47.5% said they liked the idea of crypto taxes – with less than 5% stating they were unsure.
Meanwhile, a South Korean lawyer discussed the chances of a legal u-turn in crypto tax law plans in a column for Sisa Journal, Lee Kyung-geun, an Advisor at the Yulchon law firm, and the Vice Chairman of the Financial Tax Forum, pointed out that some ruling party officials have spoken of the possibility of deferring the new tax measures.
Lee wrote that politicians are likely to stick to the line that “wherever there is a source of income, it must be taxed,” and opined that to ensure “the sound development of the South Korean cryptocurrency market,” a framework of “laws and systems” was needed, as well as “legal mechanisms to prevent excessive speculation” on crypto trading platforms.
Despite the recent outcry about crypto tax among younger South Koreans, a new small survey has found that most of the respondents are in favor of imposing taxes on crypto traders’ profits.
Per Segye Ilbo and Chosun, the survey quizzed 500 people aged 18 and over nationwide and was commissioned by the media network YTN and conducted by Real Meter.
And almost one in six respondents said they were in favor of the introduction of taxes – in line with the government’s plans. A new act on crypto taxes is set to come into force on January 1 next year. Less than 40% said they disagreed, with just 8% undecided on the matter.
And there appeared to be a firm gender divide on the issue. Despite a small army of South Korean crypto moms rushing into the crypto market, some 60% of female respondents said they backed taxes. Respondents aged in the forties were the demographic group most in favor of the tax measures, with over 62% backing the bill.
The measure has proven to be so decisive that it has sent the government into a spin, with some senior lawmakers saying that there is no going back on the tax plans – which will see higher-earning crypto traders forced to pay capital gains tax bills of 20% on their profits. But other figures from the ruling Democratic Party – afraid that a massive surge in online ire from the “2030” demographic (people aged 20-39) will turn on the party in the polls in next March’s general elections.
Some Democrat lawmakers have suggested conciliatory actions and have even talked vaguely about the possibility of delaying or amending the bill prior to promulgation. The main opposition party, meanwhile, has launched a “crypto taskforce” and has berated the Democratic Party for “betraying” young crypto-keen citizens.
But the survey appeared to show that not all people in their 20s are pinning their hopes on crypto riches: While 48% of twentysomethings respondents said they wanted the tax plans scrapped, 47.5% said they liked the idea of crypto taxes – with less than 5% stating they were unsure.
Meanwhile, a South Korean lawyer discussed the chances of a legal u-turn in crypto tax law plans in a column for Sisa Journal, Lee Kyung-geun, an Advisor at the Yulchon law firm, and the Vice Chairman of the Financial Tax Forum, pointed out that some ruling party officials have spoken of the possibility of deferring the new tax measures.
Lee wrote that politicians are likely to stick to the line that “wherever there is a source of income, it must be taxed,” and opined that to ensure “the sound development of the South Korean cryptocurrency market,” a framework of “laws and systems” was needed, as well as “legal mechanisms to prevent excessive speculation” on crypto trading platforms.
CryptEx is throwing $350,000 ☄️ into Staking on May, 10
What is CryptEx?
CryptEx is a B2B set of security services for Binance Smart Chain projects. CryptEx charges customers, and 50% of the fees go to its holders.
How to earn 50% of the fees?
All you have to do is stake CRX from your wallet, and every time a client pays for CryptEx services, the stakers get 50% out of this payment. All the rewards are paid in 💰BNB
Ask any question in the official CryptEx telegram chat 👉 @cryptexlocker
What about $100,000?
Since February 20, CryptEx provided services to 52 projects, charging them a total of over $100 000. However, staking has been released only on May 2.
After May 10, CryptEx will distribute 50% out of earned income between all CRX stakers. APY SHOULD BE ON FIRE 🔥.
Also, CRX Stakers are getting 1 000 000 DROPS (more than $250,000)during the airdrop. The snapshot will be recorded after May 10, at a random time.
Tiсker: $CRX
Max Supply: 100,000 CRX
Current Price: $36.88
FD MCap: $3,687,867
Network: Binance Smart Chain
Where to buy: 1Inch, ApeSwap, PancakeSwap V1
Join the chat: 🔥 @cryptexlocker
What is CryptEx?
CryptEx is a B2B set of security services for Binance Smart Chain projects. CryptEx charges customers, and 50% of the fees go to its holders.
How to earn 50% of the fees?
All you have to do is stake CRX from your wallet, and every time a client pays for CryptEx services, the stakers get 50% out of this payment. All the rewards are paid in 💰BNB
Ask any question in the official CryptEx telegram chat 👉 @cryptexlocker
What about $100,000?
Since February 20, CryptEx provided services to 52 projects, charging them a total of over $100 000. However, staking has been released only on May 2.
After May 10, CryptEx will distribute 50% out of earned income between all CRX stakers. APY SHOULD BE ON FIRE 🔥.
Also, CRX Stakers are getting 1 000 000 DROPS (more than $250,000)during the airdrop. The snapshot will be recorded after May 10, at a random time.
Tiсker: $CRX
Max Supply: 100,000 CRX
Current Price: $36.88
FD MCap: $3,687,867
Network: Binance Smart Chain
Where to buy: 1Inch, ApeSwap, PancakeSwap V1
Join the chat: 🔥 @cryptexlocker
Investments news.
- An earnings report by e-commerce giant Mercado Libre shows that the company has purchased USD 7.8m worth of bitcoin (BTC). The purchase happened in the first quarter of 2021, as part of their treasury strategy.
- American financial services and bank holding company State Street Corporation has launched a Bitcoin Thematic Indicator series that quantifies media coverage of the asset to gauge the market sentiment. The tool’s purpose is to help institutional investors make informed decisions when planning their portfolios.
- Mexican crypto trading platform Bitso has become a unicorn as its valuation reached USD 2.2bn, following a Series C round of funding that injected them with a total of USD 250m, the Entrepreneur reported, adding that this deal makes them the first crypto company in Latin America to be valued more than USD 1bn.
- Swedish crypto broker Safello’s initial public offering (IPO) was oversubscribed by 1,240%—with a total of SEK 40.5m (USD 4.8m) available, the recorded interest came up to SEK 502m. The issue will see the company receiving around 1,500 new shareholders, but not all subscribers will receive the allotment.
- South Korean blockchain company Streami Inc. has announced that they’ve received a strategic investment from US-based major crypto company Digital Currency Group (DCG), making the latter their second-largest shareholder.
- Custom NFT startup Bitski has raised USD 19m in a Series A led by Andreessen Horowitz, according to TechCrunch. The startup is looking to simplify the entrance into NFT creation for brands and artists that may not be fully sold on crypto as a whole, with one of their early partners being Adidas.
- Upshot, a blockchain-based protocol that "incentivizes experts to answer subjective questions honestly," said it has raised USD 7.5m in Series A funding co-led by Framework Ventures, CoinFund, Blockchain Capital, and other investors. "The company’s first product - Upshot One - is specifically designed to tackle the problem of NFT price-discovery by incentivizing a community of experts to provide trustworthy, efficient appraisals of NFTs," they said in an emailed announcement.
- VanEck has launched a new thematic equity exchange-traded fund (ETF) in Europe providing exposure to companies deriving significant revenue from the digital assets ecosystem. The VanEck Vectors Digital Assets Equity UCITS ETF has listed on London Stock Exchange in US dollars (DAPP LN) and pound sterling (DAGB LN) and on Deutsche Börse in euros (DAVV GY), ETF Strategy reported.
- An earnings report by e-commerce giant Mercado Libre shows that the company has purchased USD 7.8m worth of bitcoin (BTC). The purchase happened in the first quarter of 2021, as part of their treasury strategy.
- American financial services and bank holding company State Street Corporation has launched a Bitcoin Thematic Indicator series that quantifies media coverage of the asset to gauge the market sentiment. The tool’s purpose is to help institutional investors make informed decisions when planning their portfolios.
- Mexican crypto trading platform Bitso has become a unicorn as its valuation reached USD 2.2bn, following a Series C round of funding that injected them with a total of USD 250m, the Entrepreneur reported, adding that this deal makes them the first crypto company in Latin America to be valued more than USD 1bn.
- Swedish crypto broker Safello’s initial public offering (IPO) was oversubscribed by 1,240%—with a total of SEK 40.5m (USD 4.8m) available, the recorded interest came up to SEK 502m. The issue will see the company receiving around 1,500 new shareholders, but not all subscribers will receive the allotment.
- South Korean blockchain company Streami Inc. has announced that they’ve received a strategic investment from US-based major crypto company Digital Currency Group (DCG), making the latter their second-largest shareholder.
- Custom NFT startup Bitski has raised USD 19m in a Series A led by Andreessen Horowitz, according to TechCrunch. The startup is looking to simplify the entrance into NFT creation for brands and artists that may not be fully sold on crypto as a whole, with one of their early partners being Adidas.
- Upshot, a blockchain-based protocol that "incentivizes experts to answer subjective questions honestly," said it has raised USD 7.5m in Series A funding co-led by Framework Ventures, CoinFund, Blockchain Capital, and other investors. "The company’s first product - Upshot One - is specifically designed to tackle the problem of NFT price-discovery by incentivizing a community of experts to provide trustworthy, efficient appraisals of NFTs," they said in an emailed announcement.
- VanEck has launched a new thematic equity exchange-traded fund (ETF) in Europe providing exposure to companies deriving significant revenue from the digital assets ecosystem. The VanEck Vectors Digital Assets Equity UCITS ETF has listed on London Stock Exchange in US dollars (DAPP LN) and pound sterling (DAGB LN) and on Deutsche Börse in euros (DAVV GY), ETF Strategy reported.
