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Former FTX US President Manages to Raise Funds From Coinbase, Circle for His New Firm After Publicly Blasting SBF
Brett Harrison, former president of FTX US, has managed to raise funds from major crypto investors such as Coinbase Ventures and Circle Ventures after publicly blasting FTX founder Sam Bankman-Fried.
According to a Friday report by Bloomberg, Harrison has raised $5 million for his new crypto software startup from Coinbase and Circle. The move comes just days after the crypto boss complained association with FTX has hindered his ability to raise funds.
Called Architect, the venture aims to build trading software to make centralized and decentralized crypto markets easier to use for large investors like institutions. Harrison has said he hopes Architect “will allow people to get their confidence back in trading in this industry.”
The crypto software startup is projected to launch in the second quarter. Harrison said he hopes Architect will be eventually incorporated into Coinbase Global and Circle’s platforms. He said that the funding he raised from investors will be primarily used for recruitment.
The venture has an advisory board of directors that will transition to a formal board and help create corporate transparency, according to Harrison. He said he also wants to create a work environment that allows “people to give and to accept criticism.”
According to a report from research firm Pitchbook, venture funding for crypto startups plummeted 75% in the last quarter of 2022, the lowest since 2020. Only $2.30 billion was invested into crypto startups in Q4 2022 while a record $26.7 billion was invested in blockchain startups in 2022, the majority of which came in the first quarter.
Aside from the record drop in crypto funding, Harrison also had a hard time raising funds due to his association with FTX. In a long Twitter thread on Saturday, he said nearly every venture fund he had reached out to refused to invest citing SBF and FTX issues. He said:
"After that, many conversations eventually came around to the same kind of apology: “We know you weren’t involved in what Sam and others did, but we can’t take on the PR risk of associating ourselves with FTX, no matter how capable you are or compelling your idea is.”
Brett Harrison, former president of FTX US, has managed to raise funds from major crypto investors such as Coinbase Ventures and Circle Ventures after publicly blasting FTX founder Sam Bankman-Fried.
According to a Friday report by Bloomberg, Harrison has raised $5 million for his new crypto software startup from Coinbase and Circle. The move comes just days after the crypto boss complained association with FTX has hindered his ability to raise funds.
Called Architect, the venture aims to build trading software to make centralized and decentralized crypto markets easier to use for large investors like institutions. Harrison has said he hopes Architect “will allow people to get their confidence back in trading in this industry.”
The crypto software startup is projected to launch in the second quarter. Harrison said he hopes Architect will be eventually incorporated into Coinbase Global and Circle’s platforms. He said that the funding he raised from investors will be primarily used for recruitment.
The venture has an advisory board of directors that will transition to a formal board and help create corporate transparency, according to Harrison. He said he also wants to create a work environment that allows “people to give and to accept criticism.”
According to a report from research firm Pitchbook, venture funding for crypto startups plummeted 75% in the last quarter of 2022, the lowest since 2020. Only $2.30 billion was invested into crypto startups in Q4 2022 while a record $26.7 billion was invested in blockchain startups in 2022, the majority of which came in the first quarter.
Aside from the record drop in crypto funding, Harrison also had a hard time raising funds due to his association with FTX. In a long Twitter thread on Saturday, he said nearly every venture fund he had reached out to refused to invest citing SBF and FTX issues. He said:
"After that, many conversations eventually came around to the same kind of apology: “We know you weren’t involved in what Sam and others did, but we can’t take on the PR risk of associating ourselves with FTX, no matter how capable you are or compelling your idea is.”
Decentraland Founders Are Creditors of Bankrupt Genesis - How Much Are They Owed?
Three Decentraland executives, including two co-founders and the platform's CFO, are named among the top creditors of now-bankrupt cryptocurrency lender Genesis Global.
Decentraland co-founders Esteban Ordano and Ari Meilich and the platform's CFO Santiago Esponda are listed among the 50 largest non-insider unsecured claims against Genesis, which filed for Chapter 11 bankruptcy protection in the US on Thursday.
The crypto lender revealed the names of its largest creditors on the same day that it filed for bankruptcy, which included crypto exchange Gemini, trading giant Cumberland, Mirana, MoonAlpha Finance, and VanEck’s New Finance Income Fund.
A company called Heliva International Corp also appeared on the list with a $55 million claim. The firm listed Decentraland’s CFO Santiago Esponda as a contact point
Aside from Esponda, a closer look at the document reveals that Decentraland's two co-founders are also listed with non-Decentraland email addresses.
Ordano, who is currently an advisor at Decentraland, is listed as the contact for another company called Winah Securities, to which Genisis owes around $27 million. Notably, the document shows that Winah is located on the same floor in the same building as Heliva.
And finally, Genesis owes $20 million to Meilich's gaming company Big Time Studios. According to his LinkedIn profile, Ari Meilich was a co-founder of Decentraland and worked there until April 2020 as project lead when he left the platform to establish his own company Big Time Studios. He also remains a Decentraland adviser.
Genesis eventually filed for Chapter 11 bankruptcy protection on Thursday after weeks of speculation about the crypto lender's financial health. Genesis Global Holdco LLC, plus subsidiaries Genesis Global Capital LLC and Genesis Asia Pacific Pte, were included in the bankruptcy filing.
In the filing, Genesis estimated more than 100,000 creditors and between $1 billion and $10 billion in liabilities, as well as assets. The two other entities, Genesis Global Capital LLC and Genesis Asia Pacific Pte, estimated their assets and liabilities in the $100 million and $500 million range, respectively.
Three Decentraland executives, including two co-founders and the platform's CFO, are named among the top creditors of now-bankrupt cryptocurrency lender Genesis Global.
Decentraland co-founders Esteban Ordano and Ari Meilich and the platform's CFO Santiago Esponda are listed among the 50 largest non-insider unsecured claims against Genesis, which filed for Chapter 11 bankruptcy protection in the US on Thursday.
The crypto lender revealed the names of its largest creditors on the same day that it filed for bankruptcy, which included crypto exchange Gemini, trading giant Cumberland, Mirana, MoonAlpha Finance, and VanEck’s New Finance Income Fund.
A company called Heliva International Corp also appeared on the list with a $55 million claim. The firm listed Decentraland’s CFO Santiago Esponda as a contact point
Aside from Esponda, a closer look at the document reveals that Decentraland's two co-founders are also listed with non-Decentraland email addresses.
Ordano, who is currently an advisor at Decentraland, is listed as the contact for another company called Winah Securities, to which Genisis owes around $27 million. Notably, the document shows that Winah is located on the same floor in the same building as Heliva.
And finally, Genesis owes $20 million to Meilich's gaming company Big Time Studios. According to his LinkedIn profile, Ari Meilich was a co-founder of Decentraland and worked there until April 2020 as project lead when he left the platform to establish his own company Big Time Studios. He also remains a Decentraland adviser.
Genesis eventually filed for Chapter 11 bankruptcy protection on Thursday after weeks of speculation about the crypto lender's financial health. Genesis Global Holdco LLC, plus subsidiaries Genesis Global Capital LLC and Genesis Asia Pacific Pte, were included in the bankruptcy filing.
In the filing, Genesis estimated more than 100,000 creditors and between $1 billion and $10 billion in liabilities, as well as assets. The two other entities, Genesis Global Capital LLC and Genesis Asia Pacific Pte, estimated their assets and liabilities in the $100 million and $500 million range, respectively.
Coinbase Crypto Exchange Announces Partnership with Germany's Borussia Dortmund Soccer Team – Here’s What You Need to Know
Major US-based cryptocurrency exchange Coinbase has expanded its partnership with German soccer team Borussia Dortmund (BVB) to include advertising in the stadium and promotions on all BVB marketing channels.
According to a recent blog post by Borussia Dortmund, Coinbase has doubled down on its partnership with BVB to become its premium partner. As part of the new extended partnership, Coinbase brand advertisements will be displayed through perimeter advertising and cam carpets in Dortmund's SIGNAL IDUNA PARK, Germany's largest football stadium.
Coinbase initially started its partnership with BVB in July of last year. As part of the deal, Coinbase ads ran on the video screens during home games in the stadium. The exchange also provided workshops on crypto for BVB employees. BVB Managing Director Carsten Cramer said:
"The crypto world offers exciting opportunities, and it is important for us to work with a trustworthy partner in this promising field. The granting of the license by 'BaFin' is the clear signal for us as BVB to now have such a partner at our side in a segment that is still very new and often confusing for non-insiders."
The stadium did not disclose the terms of the deal, including how much Coinbase spent to ink the partnership. The deal would come to an end by the end of June this year.
Coinbase is the biggest crypto exchange in the United States. The exchange is also available in more than 100 countries across the world, including Germany.
Major US-based cryptocurrency exchange Coinbase has expanded its partnership with German soccer team Borussia Dortmund (BVB) to include advertising in the stadium and promotions on all BVB marketing channels.
According to a recent blog post by Borussia Dortmund, Coinbase has doubled down on its partnership with BVB to become its premium partner. As part of the new extended partnership, Coinbase brand advertisements will be displayed through perimeter advertising and cam carpets in Dortmund's SIGNAL IDUNA PARK, Germany's largest football stadium.
Coinbase initially started its partnership with BVB in July of last year. As part of the deal, Coinbase ads ran on the video screens during home games in the stadium. The exchange also provided workshops on crypto for BVB employees. BVB Managing Director Carsten Cramer said:
"The crypto world offers exciting opportunities, and it is important for us to work with a trustworthy partner in this promising field. The granting of the license by 'BaFin' is the clear signal for us as BVB to now have such a partner at our side in a segment that is still very new and often confusing for non-insiders."
The stadium did not disclose the terms of the deal, including how much Coinbase spent to ink the partnership. The deal would come to an end by the end of June this year.
Coinbase is the biggest crypto exchange in the United States. The exchange is also available in more than 100 countries across the world, including Germany.
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US Judge: Sam Bankman-Fried Attempted to Influence Witness via Encrypted Messenger App
Sam Bankman-Fried, the disgraced founder of cryptocurrency exchange FTX, has allegedly tried to influence some potential witnesses of his trial via encrypted messaging software Signal.
Federal prosecutors said the disgraced crypto boss has reached out to the “current General Counsel of FTX US who may be a witness at trial,” according to a letter filed in Manhattan federal court Friday. The current council for FTX US is Ryne Miller, who was also a former partner at Kirkland & Ellis. Miller was not identified by name in the government filing.
Prosecutors said Bankman-Fried wrote to Miller via Signal on January 15. “I would really love to reconnect and see if there’s a way for us to have a constructive relationship, use each other as resources when possible, or at least vet things with each other,” he reportedly said in the message.
The move came after the new FTX management announced that they have recovered over $5 billion in cash and liquid assets that may be used to repay creditors. At the time, the exchange's advisors said it is “not yet clear” how large the settlement fund for FTX creditors will be.
Aside from Miller, SBF has also been in contact with “other current and former FTX employees,” the filing said. US authorities claim SBF's request suggests an effort to influence the witness’s testimony, and that his effort to improve his relationship with Miller “may itself constitute witness tampering.”
Citing fears of possible witness tampering, prosecutors have asked the court to ban SBF from using the messaging platform, saying it is essential in order to “prevent obstruction of justice.”
As reported, the US Department of Justice opposed FTX hiring Sullivan & Cromwell, the law firm currently tasked with the exchange's investigation, earlier this month citing potential conflicts of interest. That is because Miller, general counsel of FTX US, previously worked at S&C for eight years. The DOJ said the investigation would place the law firm "in the conflicted position of investigating itself and its former partner."
Prior to DOJ's objection, a bipartisan group of four United States senators, including John Hickenlooper, Thom Tillis, Elizabeth Warren, and Cynthia Lummis, lashed out at S&C for almost the same reasons.
FTX and its group of crypto companies filed for Chapter 11 bankruptcy in early November. Sam Bankman-Fried, the disgraced founder of FTX, was later arrested in The Bahamas after US prosecutors formally filed criminal charges against him. He was eventually extradited to the US where he was released from jail after posting a $250m bond in a New York court.
SBF has been charged with eight criminal charges including wire fraud and conspiracy by misusing customer funds, to which he pled not guilty earlier this month. He is due in federal court in October.
Sam Bankman-Fried, the disgraced founder of cryptocurrency exchange FTX, has allegedly tried to influence some potential witnesses of his trial via encrypted messaging software Signal.
Federal prosecutors said the disgraced crypto boss has reached out to the “current General Counsel of FTX US who may be a witness at trial,” according to a letter filed in Manhattan federal court Friday. The current council for FTX US is Ryne Miller, who was also a former partner at Kirkland & Ellis. Miller was not identified by name in the government filing.
Prosecutors said Bankman-Fried wrote to Miller via Signal on January 15. “I would really love to reconnect and see if there’s a way for us to have a constructive relationship, use each other as resources when possible, or at least vet things with each other,” he reportedly said in the message.
The move came after the new FTX management announced that they have recovered over $5 billion in cash and liquid assets that may be used to repay creditors. At the time, the exchange's advisors said it is “not yet clear” how large the settlement fund for FTX creditors will be.
Aside from Miller, SBF has also been in contact with “other current and former FTX employees,” the filing said. US authorities claim SBF's request suggests an effort to influence the witness’s testimony, and that his effort to improve his relationship with Miller “may itself constitute witness tampering.”
Citing fears of possible witness tampering, prosecutors have asked the court to ban SBF from using the messaging platform, saying it is essential in order to “prevent obstruction of justice.”
As reported, the US Department of Justice opposed FTX hiring Sullivan & Cromwell, the law firm currently tasked with the exchange's investigation, earlier this month citing potential conflicts of interest. That is because Miller, general counsel of FTX US, previously worked at S&C for eight years. The DOJ said the investigation would place the law firm "in the conflicted position of investigating itself and its former partner."
Prior to DOJ's objection, a bipartisan group of four United States senators, including John Hickenlooper, Thom Tillis, Elizabeth Warren, and Cynthia Lummis, lashed out at S&C for almost the same reasons.
FTX and its group of crypto companies filed for Chapter 11 bankruptcy in early November. Sam Bankman-Fried, the disgraced founder of FTX, was later arrested in The Bahamas after US prosecutors formally filed criminal charges against him. He was eventually extradited to the US where he was released from jail after posting a $250m bond in a New York court.
SBF has been charged with eight criminal charges including wire fraud and conspiracy by misusing customer funds, to which he pled not guilty earlier this month. He is due in federal court in October.
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What can I (and you) do here:
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Newly Released Emails: Sam Bankman-Fried Requested In-Person Meeting with FTX CEO John Ray
Sam Bankman-Fried, the disgraced founder of now-defunct cryptocurrency exchange FTX, has requested to meet with the new FTX CEO John Ray.
On January 2, Bankman-Fried wrote an email letter to Ray, a bankruptcy expert who took over the exchange after it filed for bankruptcy in November last year, offering his help with regard to funds or "anything else," Bloomberg reported Monday. He said in the email:
"I know things haven’t gotten off on the right foot but I really do want to be helpful — whether on the funds or on anything else."
The move came just one day before the disgraced crypto boss pleaded not guilty to fraud and other charges.
Notably, Ray has previously lashed out at SBF and former FTX management for their utter lack of financial and other record-keeping, which makes it difficult to trace funds. Last year, he said FTX collapsed because of the "concentration of control in the hands of a very small group of grossly inexperienced and unsophisticated individuals."
As reported, SBF has been trying to contact and influence some potential witnesses of his trial via the encrypted messaging software Signal. Last week, federal prosecutors said he has reached out to the “current General Counsel of FTX US who may be a witness at trial.” The current council for FTX US is Ryne Miller, who was also a former partner at Kirkland & Ellis.
Aside from Miller, SBF has also been in contact with “other current and former FTX employees,” the filing said. US authorities claim SBF's request suggests an effort to influence the witness’s testimony, and that his effort to improve his relationship with Miller “may itself constitute witness tampering.”
The US Department of Justice has also opposed FTX hiring Sullivan & Cromwell, the law firm currently tasked with the exchange's investigation, citing potential conflicts of interest. That is because Miller, general counsel of FTX US, previously worked at S&C for eight years. The DOJ said the investigation would place the law firm "in the conflicted position of investigating itself and its former partner."
FTX and its group of crypto companies filed for Chapter 11 bankruptcy in early November. Sam Bankman-Fried, the disgraced founder of FTX, was later arrested in The Bahamas after US prosecutors formally filed criminal charges against him. He was eventually extradited to the US where he was released from jail after posting a $250m bond in a New York court.
SBF has been charged with eight criminal charges including wire fraud and conspiracy by misusing customer funds. He is due in federal court in October.
Sam Bankman-Fried, the disgraced founder of now-defunct cryptocurrency exchange FTX, has requested to meet with the new FTX CEO John Ray.
On January 2, Bankman-Fried wrote an email letter to Ray, a bankruptcy expert who took over the exchange after it filed for bankruptcy in November last year, offering his help with regard to funds or "anything else," Bloomberg reported Monday. He said in the email:
"I know things haven’t gotten off on the right foot but I really do want to be helpful — whether on the funds or on anything else."
The move came just one day before the disgraced crypto boss pleaded not guilty to fraud and other charges.
Notably, Ray has previously lashed out at SBF and former FTX management for their utter lack of financial and other record-keeping, which makes it difficult to trace funds. Last year, he said FTX collapsed because of the "concentration of control in the hands of a very small group of grossly inexperienced and unsophisticated individuals."
As reported, SBF has been trying to contact and influence some potential witnesses of his trial via the encrypted messaging software Signal. Last week, federal prosecutors said he has reached out to the “current General Counsel of FTX US who may be a witness at trial.” The current council for FTX US is Ryne Miller, who was also a former partner at Kirkland & Ellis.
Aside from Miller, SBF has also been in contact with “other current and former FTX employees,” the filing said. US authorities claim SBF's request suggests an effort to influence the witness’s testimony, and that his effort to improve his relationship with Miller “may itself constitute witness tampering.”
The US Department of Justice has also opposed FTX hiring Sullivan & Cromwell, the law firm currently tasked with the exchange's investigation, citing potential conflicts of interest. That is because Miller, general counsel of FTX US, previously worked at S&C for eight years. The DOJ said the investigation would place the law firm "in the conflicted position of investigating itself and its former partner."
FTX and its group of crypto companies filed for Chapter 11 bankruptcy in early November. Sam Bankman-Fried, the disgraced founder of FTX, was later arrested in The Bahamas after US prosecutors formally filed criminal charges against him. He was eventually extradited to the US where he was released from jail after posting a $250m bond in a New York court.
SBF has been charged with eight criminal charges including wire fraud and conspiracy by misusing customer funds. He is due in federal court in October.
Cathie Wood of ARK Invest Stands By $500,000 Bitcoin Price Prediction – Here's Why
In a defensive interview, Ark Invest CEO Cathie Wood has stood by her thesis that Bitcoin will hit $500,000 by 2030.
Wood is the forward-thinking head of Ark Invests and irs flagship tech-oriented ARKK ETF. Notorious for betting big on the latest and greatest in biotechnology.
In 2020, Wood made headlines with an infamous prediction that Bitcoin (BTC) would hit $500k by 2030.
And in November 2022, she doubled-down when it emerged the flagship Ark Innovation ETF invested a further $62.7m into the crypto space.
The capital was deployed to acquire further shares in Coinbase, Silvergate, and the Grayscale Bitcoin Trust. A brave move a week after the collapse of behemoth FTX.
In 2020, the ARKK ETF underwent a sensational 150% rally. But market confidence in the ETF saw witness to a 59% fall in 2022 (worse than the S&P500).
In a defensive interview, Ark Invest CEO Cathie Wood has stood by her thesis that Bitcoin will hit $500,000 by 2030.
Wood is the forward-thinking head of Ark Invests and irs flagship tech-oriented ARKK ETF. Notorious for betting big on the latest and greatest in biotechnology.
In 2020, Wood made headlines with an infamous prediction that Bitcoin (BTC) would hit $500k by 2030.
And in November 2022, she doubled-down when it emerged the flagship Ark Innovation ETF invested a further $62.7m into the crypto space.
The capital was deployed to acquire further shares in Coinbase, Silvergate, and the Grayscale Bitcoin Trust. A brave move a week after the collapse of behemoth FTX.
In 2020, the ARKK ETF underwent a sensational 150% rally. But market confidence in the ETF saw witness to a 59% fall in 2022 (worse than the S&P500).
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Billionaire Michael Saylor Responds to Charlie Munger's Criticism of Bitcoin – This is What He Said
Michael Saylor, the co-founder and former CEO of MicroStrategy, has addressed Charlie Munger's criticism of Bitcoin, claiming that he hasn’t taken the time to understand Bitcoin.
In a Friday interview with CNBC, Saylor said he is "sympathetic" to Munger's criticism of the broader crypto market, noting that thousands of altcoins are little more than avenues for "gambling." However, he argued that Warren Buffett’s right-hand man would have had a different idea about Bitcoin if he studied it.
“If he was a business leader in South America or Africa or Asia and he spent a 100 hours studying the problem, he’d be more bullish on bitcoin than I am,” Saylor explained, adding:
“The Western elites have not had the time to study … but I’ve never really met someone with an incentive living in the rest of the world that spent some time thinking about it that wasn't enthusiastic about bitcoin.”
The statements came after Munger's op-ed for the Wall Street Journal that asked for a blanket ban on cryptocurrencies. Titled "Why America Should Ban Crypto," the article argued that a cryptocurrency is "a gambling contract" and urged regulators to act and introduce a regulatory framework.
"A cryptocurrency is not a currency, not a commodity, and not a security. Instead, it’s a gambling contract with a nearly 100% edge for the house, entered into in a country where gambling contracts are traditionally regulated only by states that compete in laxity," Munger said in the op-ed.
This is not the first time Munger has lashed out at digital assets. Previously, he had said that trading in cryptocurrencies is "just dementia" and called Bitcoin “a bad combo of fraud and delusion” that is good for kidnappers.
Notably, Warren Buffett, the chairman and CEO of Berkshire Hathaway, also shares the same mindset with his friend Munger when it comes to cryptocurrencies, calling Bitcoin "rat poison squared" in 2018.
Michael Saylor, the co-founder and former CEO of MicroStrategy, has addressed Charlie Munger's criticism of Bitcoin, claiming that he hasn’t taken the time to understand Bitcoin.
In a Friday interview with CNBC, Saylor said he is "sympathetic" to Munger's criticism of the broader crypto market, noting that thousands of altcoins are little more than avenues for "gambling." However, he argued that Warren Buffett’s right-hand man would have had a different idea about Bitcoin if he studied it.
“If he was a business leader in South America or Africa or Asia and he spent a 100 hours studying the problem, he’d be more bullish on bitcoin than I am,” Saylor explained, adding:
“The Western elites have not had the time to study … but I’ve never really met someone with an incentive living in the rest of the world that spent some time thinking about it that wasn't enthusiastic about bitcoin.”
The statements came after Munger's op-ed for the Wall Street Journal that asked for a blanket ban on cryptocurrencies. Titled "Why America Should Ban Crypto," the article argued that a cryptocurrency is "a gambling contract" and urged regulators to act and introduce a regulatory framework.
"A cryptocurrency is not a currency, not a commodity, and not a security. Instead, it’s a gambling contract with a nearly 100% edge for the house, entered into in a country where gambling contracts are traditionally regulated only by states that compete in laxity," Munger said in the op-ed.
This is not the first time Munger has lashed out at digital assets. Previously, he had said that trading in cryptocurrencies is "just dementia" and called Bitcoin “a bad combo of fraud and delusion” that is good for kidnappers.
Notably, Warren Buffett, the chairman and CEO of Berkshire Hathaway, also shares the same mindset with his friend Munger when it comes to cryptocurrencies, calling Bitcoin "rat poison squared" in 2018.
Why Meme Coin Prices Had a 7-Day Pump and Tamadoge is Today's Best Performer, Up 10% to $0.022
Meme coin prices are on a roll, with broad-based appreciation in values pushing the sector's market cap over $22 billion, led by week gains for top sector coins such as Shiba Inu (SHIB), Baby Doge Coin (Baby Doge), Bone ShibaSwap (BONE) and Tamadoge (TAMA).
What’s behind the meme coin redux and can the bullish turn in sentiment be maintained?
The attraction of meme coins is centered on their brand power. As the rekindling of interest in crypto gathers pace it is not surprising that this sector should start to attract buyers.
However, the first iteration of meme coins, which was very much built around the joke status of Dogecoin and the pulling power of Elon Musk, has moved on.
These days investors are taking notice that a small band of meme coins are starting to build real utility into their protocols, thereby differentiating themselves from the pack.
Market visibility that can crossover into the mainstream is a powerful value proposition – providing it is ultimately be based on leveraging blockchain technology to deliver useful products with cash flow.
Meme coin prices are on a roll, with broad-based appreciation in values pushing the sector's market cap over $22 billion, led by week gains for top sector coins such as Shiba Inu (SHIB), Baby Doge Coin (Baby Doge), Bone ShibaSwap (BONE) and Tamadoge (TAMA).
What’s behind the meme coin redux and can the bullish turn in sentiment be maintained?
The attraction of meme coins is centered on their brand power. As the rekindling of interest in crypto gathers pace it is not surprising that this sector should start to attract buyers.
However, the first iteration of meme coins, which was very much built around the joke status of Dogecoin and the pulling power of Elon Musk, has moved on.
These days investors are taking notice that a small band of meme coins are starting to build real utility into their protocols, thereby differentiating themselves from the pack.
Market visibility that can crossover into the mainstream is a powerful value proposition – providing it is ultimately be based on leveraging blockchain technology to deliver useful products with cash flow.
LendeXe is an entirely innovative project with a Web3 ecosystem of various innovative DeFi applications.
As everyone already knows, stablecoins are not very stable, and investments can go into a significant loss.
IEO was started yesterday!
The project has developed XSD, one of the most secure stablecoins on the market.
It will always be stable thanks to the support of the three largest stablecoins: USDT, USDC, and BUSD.
This will save your assets during a market downturn.
The native LEXE token has already been successfully launched.
There are many options for using project coins!
From ecosystem management to use as collateral.
LendeXe makes the world of cryptocurrencies open to everyone and understandable at any level.
Get a 1.5x P2P loan from a decentralized P2P pool using your LEXE as collateral.
The main feature of the project is unique offers!
Ultimate Loan using project coins, deposits, passive income, and XSD Stabilizer!
Become a part of the project today!
https://www.lendexe.fi/
As everyone already knows, stablecoins are not very stable, and investments can go into a significant loss.
IEO was started yesterday!
The project has developed XSD, one of the most secure stablecoins on the market.
It will always be stable thanks to the support of the three largest stablecoins: USDT, USDC, and BUSD.
This will save your assets during a market downturn.
The native LEXE token has already been successfully launched.
There are many options for using project coins!
From ecosystem management to use as collateral.
LendeXe makes the world of cryptocurrencies open to everyone and understandable at any level.
Get a 1.5x P2P loan from a decentralized P2P pool using your LEXE as collateral.
The main feature of the project is unique offers!
Ultimate Loan using project coins, deposits, passive income, and XSD Stabilizer!
Become a part of the project today!
https://www.lendexe.fi/
🤖United Telegram Bot Playground: Unique Token Natural Growth Algorithm powered by AI inside Telegram Bot
Research in the web: United Telegram bot
Price Forecast 0.035 (28%+) In 10-14 Days
🕰 Daily Numbers
➖➖➖➖➖➖
💎 Price: 0.02362$
Updated: 7 min. ago
Your gains: +488.27$
➖➖➖➖➖➖
📅 History change
24 hours: +5.31% ↗️
7 days: +16.79% ↗️
30 days: +18.10% ↗️
@UnitedTeleBot - UTB.ai Whitepaper
Powered By AI with small team behind the Telegram
@UnitedTeleBot
Research in the web: United Telegram bot
Price Forecast 0.035 (28%+) In 10-14 Days
🕰 Daily Numbers
➖➖➖➖➖➖
💎 Price: 0.02362$
Updated: 7 min. ago
Your gains: +488.27$
➖➖➖➖➖➖
📅 History change
24 hours: +5.31% ↗️
7 days: +16.79% ↗️
30 days: +18.10% ↗️
@UnitedTeleBot - UTB.ai Whitepaper
Powered By AI with small team behind the Telegram
@UnitedTeleBot
Binance Shocks Crypto World with Temporary Halt on US Bank Transfers – Here's What's Going On
Binance has announced that it is temporarily suspending US dollar withdrawals and deposits for international customers beginning February 8.
In a recent tweet, the largest crypto exchange in the world said that they "will temporarily suspend all USD bank transfers" starting Wednesday. Other transfer methods will not be affected, the exchange added, noting that it only impacts "a small proportion" of their users.
The exchange did not provide additional details but said they "are working hard to restart the service as soon as possible."
In a separate tweet, Binance US, a unit of the company that’s regulated by the Treasury Department’s Financial Crimes Enforcement Network, said that it’s not affected by the suspension. Thus the move applies only to non-U.S. customers who transfer money to or from bank accounts in dollars.
The move comes as Binance has been facing banking challenges in the United States. Last month, the exchange's banking partner Signature Bank raised transaction minimums for dollar transfers, announcing that it would only process trades by users with USD bank accounts over $100,000.
At the time, Binance said it was “actively seeking” a new partner to process its SWIFT payments. Only “0.01% of our average monthly users are serviced by Signature Bank,” the exchange said in an email sent to impacted users.
Signature Bank, which is headquartered in New York, said back in December that it intends to reduce its exposure to clients operating in the crypto space by shedding about $10 billion of deposits.
Signature Bank and Silvergate are two of the biggest crypto banks. However, the duo was hit hard by the crypto meltdown last year that saw around $2 trillion worth of value wiped out of the crypto market.
Both banks have received billions in loans from the Federal Home Loan Banks, a system originally designed to support housing finance and community investment, following the collapse of the cryptocurrency exchange FTX.
Binance has announced that it is temporarily suspending US dollar withdrawals and deposits for international customers beginning February 8.
In a recent tweet, the largest crypto exchange in the world said that they "will temporarily suspend all USD bank transfers" starting Wednesday. Other transfer methods will not be affected, the exchange added, noting that it only impacts "a small proportion" of their users.
The exchange did not provide additional details but said they "are working hard to restart the service as soon as possible."
In a separate tweet, Binance US, a unit of the company that’s regulated by the Treasury Department’s Financial Crimes Enforcement Network, said that it’s not affected by the suspension. Thus the move applies only to non-U.S. customers who transfer money to or from bank accounts in dollars.
The move comes as Binance has been facing banking challenges in the United States. Last month, the exchange's banking partner Signature Bank raised transaction minimums for dollar transfers, announcing that it would only process trades by users with USD bank accounts over $100,000.
At the time, Binance said it was “actively seeking” a new partner to process its SWIFT payments. Only “0.01% of our average monthly users are serviced by Signature Bank,” the exchange said in an email sent to impacted users.
Signature Bank, which is headquartered in New York, said back in December that it intends to reduce its exposure to clients operating in the crypto space by shedding about $10 billion of deposits.
Signature Bank and Silvergate are two of the biggest crypto banks. However, the duo was hit hard by the crypto meltdown last year that saw around $2 trillion worth of value wiped out of the crypto market.
Both banks have received billions in loans from the Federal Home Loan Banks, a system originally designed to support housing finance and community investment, following the collapse of the cryptocurrency exchange FTX.
Crypto Exchange Kraken in Hot Water with SEC Over Alleged Securities Violation – Here's What You Need to Know
The US-based crypto exchange Kraken is in hot water with regulators over an alleged violation of securities rules related to the selling of “unregistered securities.”
The Securities and Exchange Commission’s (SEC) probe into whether Kraken did offer unregistered securities to US consumers is now at an “advanced stage,” Bloomberg reported on Wednesday, adding that the probe could lead to a settlement in “coming days.”
The report was based on information from an unnamed source “with knowledge of the matter.”
Kraken or its CEO Jesse Powell has so far not commented on the report.
Despite the source saying a settlement could be imminent, it remains unclear which digital assets the probe relates to.
So far, US regulators, including the SEC and the CFTC, have only declared Bitcoin to be a commodity, making the regulatory status of other digital assets unclear.
According to Bloomberg, the outcome of the probe, and any potential actions taken against Kraken, could have significant ramifications for the crypto industry in the US. It is believed that any settlement in the case could put pressure on other companies to also make deals with the SEC.
The report noted that the SEC on several occasions, has said that most tokens offered by crypto exchanges are indeed securities and, therefore, should be subject to SEC regulations. Still, it also stressed that probes like this one don’t always lead to enforcement action against a company.
Kraken is headquartered in San Francisco and currently ranks as the world’s third-largest spot crypto exchange by trading volume, according to CoinMarketCap.
The US-based crypto exchange Kraken is in hot water with regulators over an alleged violation of securities rules related to the selling of “unregistered securities.”
The Securities and Exchange Commission’s (SEC) probe into whether Kraken did offer unregistered securities to US consumers is now at an “advanced stage,” Bloomberg reported on Wednesday, adding that the probe could lead to a settlement in “coming days.”
The report was based on information from an unnamed source “with knowledge of the matter.”
Kraken or its CEO Jesse Powell has so far not commented on the report.
Despite the source saying a settlement could be imminent, it remains unclear which digital assets the probe relates to.
So far, US regulators, including the SEC and the CFTC, have only declared Bitcoin to be a commodity, making the regulatory status of other digital assets unclear.
According to Bloomberg, the outcome of the probe, and any potential actions taken against Kraken, could have significant ramifications for the crypto industry in the US. It is believed that any settlement in the case could put pressure on other companies to also make deals with the SEC.
The report noted that the SEC on several occasions, has said that most tokens offered by crypto exchanges are indeed securities and, therefore, should be subject to SEC regulations. Still, it also stressed that probes like this one don’t always lead to enforcement action against a company.
Kraken is headquartered in San Francisco and currently ranks as the world’s third-largest spot crypto exchange by trading volume, according to CoinMarketCap.
PayPal Reveals Massive Cryptocurrency Holdings Totaling $604 Million – Here's What You Need to Know
Global payment giant PayPal held $604 million of cryptocurrencies for its customers by the end of 2022, with Bitcoin and Ethereum accounting for almost 90% of that figure.
PayPal held $291 million in BTC, $250 million in ETH, and another $63 million in Litecoin and Bitcoin Cash as of December 31, according to its annual report to the U.S. Securities and Exchange Commission (SEC).
The company's crypto holding of $604 million at the end of 2022 is down from the $690 million the company held as of September. The drop comes amid plunging crypto prices and exacerbating user trust in the industry following the disastrous collapse of cryptocurrency exchange FTX.
The amount of PayPal’s crypto holdings account for 67% of the company’s total financial liabilities, amounting to $902 million as of December 31. As per the filing, the company's total financial assets stood at more than $25 billion, according to the filing.
PayPal introduced the service allowing U.S.-based customers to buy and sell specific cryptocurrencies in October 2020. The company has since expanded the service to the UK, and plans for more international expansion.
Notably, this marks the first time the payments giant has included a breakdown of its crypto holdings, as its previous annual financial report did not disclose its crypto assets. In the filing, PayPal said they felt the need to include the breakdown of its crypto holdings due to the recent developments in the industry. It wrote:
“Due to the unique risks associated with cryptocurrencies, including technological, legal, and regulatory risks, we recognize a crypto asset safeguarding liability to reflect our obligation to safeguard the crypto assets held for the benefit of our customers.”
Global payment giant PayPal held $604 million of cryptocurrencies for its customers by the end of 2022, with Bitcoin and Ethereum accounting for almost 90% of that figure.
PayPal held $291 million in BTC, $250 million in ETH, and another $63 million in Litecoin and Bitcoin Cash as of December 31, according to its annual report to the U.S. Securities and Exchange Commission (SEC).
The company's crypto holding of $604 million at the end of 2022 is down from the $690 million the company held as of September. The drop comes amid plunging crypto prices and exacerbating user trust in the industry following the disastrous collapse of cryptocurrency exchange FTX.
The amount of PayPal’s crypto holdings account for 67% of the company’s total financial liabilities, amounting to $902 million as of December 31. As per the filing, the company's total financial assets stood at more than $25 billion, according to the filing.
PayPal introduced the service allowing U.S.-based customers to buy and sell specific cryptocurrencies in October 2020. The company has since expanded the service to the UK, and plans for more international expansion.
Notably, this marks the first time the payments giant has included a breakdown of its crypto holdings, as its previous annual financial report did not disclose its crypto assets. In the filing, PayPal said they felt the need to include the breakdown of its crypto holdings due to the recent developments in the industry. It wrote:
“Due to the unique risks associated with cryptocurrencies, including technological, legal, and regulatory risks, we recognize a crypto asset safeguarding liability to reflect our obligation to safeguard the crypto assets held for the benefit of our customers.”
Is it Too Late to Buy XRP? Crypto Experts Give Their XRP Price Predictions
Things are not looking good for XRP. At least, that’s from a technical perspective. Regarding Ripple’s ongoing lawsuit against the US Securities and Exchange Commission, which accused the global crypto payments company of selling XRP as an unregistered security, no one knows what is going to happen. The judge presiding over the case is expected to make a ruling by the end of this quarter as to whether the case goes to trial or not and XRP bulls are hoping that Ripple might be able to force the SEC into a settlement.
Regarding XRP’s technicals, the cryptocurrency’s ongoing slump since posting yearly highs in January in the $0.43 area is raising the prospect of a retest of 2022 lows in the $0.30 area. XRP/USD was last changing hands in the mid-$0.36s, down a further more than 2.0% on Monday, taking losses on the month to just shy of 10%. Price predictions are thus becoming more pessimistic.
XRP is falling in tandem with the broader cryptocurrency market, which is weighed down by concerns about the SEC’s latest regulatory enforcement actions against BUSD stablecoin issuer Paxos. The cryptocurrency’s upside has been capped by a downtrend since last September and has bottomed in the $0.30 area twice since then. A repeat of history looks like it may be on the cards.
Things are not looking good for XRP. At least, that’s from a technical perspective. Regarding Ripple’s ongoing lawsuit against the US Securities and Exchange Commission, which accused the global crypto payments company of selling XRP as an unregistered security, no one knows what is going to happen. The judge presiding over the case is expected to make a ruling by the end of this quarter as to whether the case goes to trial or not and XRP bulls are hoping that Ripple might be able to force the SEC into a settlement.
Regarding XRP’s technicals, the cryptocurrency’s ongoing slump since posting yearly highs in January in the $0.43 area is raising the prospect of a retest of 2022 lows in the $0.30 area. XRP/USD was last changing hands in the mid-$0.36s, down a further more than 2.0% on Monday, taking losses on the month to just shy of 10%. Price predictions are thus becoming more pessimistic.
XRP is falling in tandem with the broader cryptocurrency market, which is weighed down by concerns about the SEC’s latest regulatory enforcement actions against BUSD stablecoin issuer Paxos. The cryptocurrency’s upside has been capped by a downtrend since last September and has bottomed in the $0.30 area twice since then. A repeat of history looks like it may be on the cards.
UK Law Enforcement and Regulators Join Forces to Dismantle Illegal Crypto ATMs
UK authorities have raided several properties around Leeds suspected of hosting illegally operated cryptocurrency automatic teller machines (ATMs).
The UK’s Financial Conduct Authority (FCA), as well as West Yorkshire Police’s Digital Intelligence Unit, were involved in the raids, which are believed to be part of the UK’s first crackdown on illegal crypto ATMs, according to an announcement by the FCA.
The watchdog claimed that no crypto ATM operators in the UK currently have FCA registration. It said that the agency had previously written to all operators warning of the legal consequences of failing to register with the FCA.
"The FCA is working with multiple law enforcement partners, including local police forces, to disrupt and disable illegal Crypto ATMs," the agency said, adding that it will review evidence gathered during these visits and consider further potential enforcement action.
Crypto ATMs allow customers to buy or convert traditional currencies into cryptoassets. According to data by Coin ATM Radar, there are 27 bitcoin ATMs installed across the whole of the U.K.
“Unregistered crypto ATMs operating in the U.K. are doing so illegally,” FCA’s executive director of enforcement Mark Steward said, adding that the regulator will continue to disrupt unregistered crypto businesses in the country.
DS Lindsey Brants of the cyber team at West Yorkshire police said they had issued warning letters to crypto ATM operators, requesting the operators cease and desist from using the machines.
“We will continue to identify and disrupt unregistered crypto businesses operating in the UK,” Mark Steward, the FCA’s director in charge of enforcement and market oversight, said.
UK authorities have raided several properties around Leeds suspected of hosting illegally operated cryptocurrency automatic teller machines (ATMs).
The UK’s Financial Conduct Authority (FCA), as well as West Yorkshire Police’s Digital Intelligence Unit, were involved in the raids, which are believed to be part of the UK’s first crackdown on illegal crypto ATMs, according to an announcement by the FCA.
The watchdog claimed that no crypto ATM operators in the UK currently have FCA registration. It said that the agency had previously written to all operators warning of the legal consequences of failing to register with the FCA.
"The FCA is working with multiple law enforcement partners, including local police forces, to disrupt and disable illegal Crypto ATMs," the agency said, adding that it will review evidence gathered during these visits and consider further potential enforcement action.
Crypto ATMs allow customers to buy or convert traditional currencies into cryptoassets. According to data by Coin ATM Radar, there are 27 bitcoin ATMs installed across the whole of the U.K.
“Unregistered crypto ATMs operating in the U.K. are doing so illegally,” FCA’s executive director of enforcement Mark Steward said, adding that the regulator will continue to disrupt unregistered crypto businesses in the country.
DS Lindsey Brants of the cyber team at West Yorkshire police said they had issued warning letters to crypto ATM operators, requesting the operators cease and desist from using the machines.
“We will continue to identify and disrupt unregistered crypto businesses operating in the UK,” Mark Steward, the FCA’s director in charge of enforcement and market oversight, said.
Solana Price Prediction as $800 Million Trading Volume Floods In – Here's Where SOL is Headed Now
Solana (SOL), the cryptocurrency that powers Solana’s high-performance smart-contract-enabled blockchain, saw an impressive $830 million in trading volumes on Thursday, according to data presented by crypto analytics platform Token Terminal. That was the second-highest daily trading volume in two weeks, with only Wednesday (the 15th of February) clocking in ahead with volumes of $850 million.
The uptick in trading volumes comes with Solana having whipsawed either side of its 21-Day Moving Average (DMA) at $23.0. The cryptocurrency was last trading around $22.80 per token on Friday, up around 2.5% on the day, but down around 5% versus Thursday’s weekly highs above $24. Solana has not this week been able to match the feats achieved by its major rivals Bitcoin and Ethereum.
Bitcoin on Thursday managed to hit new eight-month highs in the $25,000s while Ethereum managed to hit its highest levels since last September in the $1,700s. Both have since backed off from these highs. Solana, meanwhile, has not been able to muster a test of its recent highs in the $26.00s, after failing to break convincingly above its 21DMA and amid selling pressure ahead of its 200DMA, which is now at $25.24.
Solana (SOL), the cryptocurrency that powers Solana’s high-performance smart-contract-enabled blockchain, saw an impressive $830 million in trading volumes on Thursday, according to data presented by crypto analytics platform Token Terminal. That was the second-highest daily trading volume in two weeks, with only Wednesday (the 15th of February) clocking in ahead with volumes of $850 million.
The uptick in trading volumes comes with Solana having whipsawed either side of its 21-Day Moving Average (DMA) at $23.0. The cryptocurrency was last trading around $22.80 per token on Friday, up around 2.5% on the day, but down around 5% versus Thursday’s weekly highs above $24. Solana has not this week been able to match the feats achieved by its major rivals Bitcoin and Ethereum.
Bitcoin on Thursday managed to hit new eight-month highs in the $25,000s while Ethereum managed to hit its highest levels since last September in the $1,700s. Both have since backed off from these highs. Solana, meanwhile, has not been able to muster a test of its recent highs in the $26.00s, after failing to break convincingly above its 21DMA and amid selling pressure ahead of its 200DMA, which is now at $25.24.
