: Crypto Market Booms as Bitcoin Dominance Hits New 6-Month High

• Bitcoin dominance has hit 41.5% as of Jan. 20 — the highest level over six months.
• Ethereum dominance is also up and currently stands at 19.4%.
• The market cap for the entire crypto space sits at just under $1 trillion.

The crypto space is buzzing with excitement as Bitcoin dominance has hit 41.5% as of Jan. 20 — the highest level over the last six months. This is an impressive feat that highlights the strength of the world’s leading cryptocurrency and its increasing influence on the crypto market.

At the same time, Ethereum dominance is also on the rise and currently stands at 19.4%, indicating that the second largest cryptocurrency is also performing well. This is a strong sign for the industry as a whole, as the two largest coins in the space are both performing well.

The overall market cap for the entire crypto space is also at an impressive level, sitting just under $1 trillion. This is a remarkable figure, especially considering the fact that the crypto market was valued at just over $200 billion just one year ago.

The rise in Bitcoin dominance is not only a testament to the strength of the asset, but also a sign of the increasing shift towards digital assets. As investors continue to flock to the crypto space, the market is only likely to continue growing.

It is also worth noting that the BTC-ETH Dominance metric is an oscillator that tracks the macro outperformance trends between the top two crypto-assets. Lower values here indicate an outperformance of ETH over the pink line, meaning that the altcoin has been outperforming Bitcoin since early 2021.

All in all, the crypto market is in a strong position and the rise in Bitcoin dominance is a positive sign for the future of the industry. With the overall market cap for the entire crypto space sitting just under $1 trillion, it is clear that the space is maturing and continuing to grow. Investors should remain cautiously optimistic and continue to monitor developments in the space as the market continues to evolve.

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NY AG Sues Celsius Network Co-Founder for Defrauding Investors

• The New York Attorney General has filed a lawsuit against Alex Mashinsky, the co-founder and former CEO of Celsius Network LLC, for allegedly defrauding investors.
• Mashinsky is accused of violating the Martin Act and New York’s Executive and General Business Laws by allegedly misleading customers into depositing billions of dollars into digital asset within the cryptocurrency lending company.
• The motion seeks to prevent Mashinsky from „engaging in any business relating to the issuance, advertisement, or sale of securities or commodities in New York,“ as well as „directing Mashinsky to pay damages, restitution, and disgorgement.“

The New York Attorney General has filed a lawsuit against Alex Mashinsky, the co-founder and former CEO of Celsius Network LLC, for allegedly defrauding investors. The motion, which was filed by Attorney General Letitia James, accuses Mashinsky of violating the Martin Act and New York’s Executive and General Business Laws by allegedly misleading customers into depositing billions of dollars into digital asset within the cryptocurrency lending company.

Mashinsky, who served as the „public face“ of Celsius, promised investors high yields with minimal risk. However, when Celsius struggled to generate enough revenue to pay the promised yields on investors‘ deposits, it allegedly adopted significantly riskier investment strategies. According to the motion, these strategies included investing in “lower-quality and higher-risk assets,” as well as “engaging in proprietary trading and other activities that exposed investors to greater risk than what was promised.”

The motion seeks to prevent Mashinsky from „engaging in any business relating to the issuance, advertisement, or sale of securities or commodities in New York,“ as well as „directing Mashinsky to pay damages, restitution, and disgorgement.“ It further states that “New Yorkers who invested their hard-earned money in the Celsius Network were victimized by a scheme that was intended to enrich the defendants and other individuals involved in the scheme,” and that Mashinsky and his cohorts “will be held accountable for their fraud and their deceptive practices.”

In a statement, Attorney General James said, “The Celsius Network and its former CEO allegedly engaged in a brazen scheme to defraud investors, and today’s action seeks to make them pay for their misconduct. We will continue to crack down on those who seek to take advantage of New Yorkers in pursuit of their own financial gain.”

The lawsuit, which is ongoing, is being handled by the Office of the Attorney General’s Investor Protection Bureau. The bureau is responsible for protecting investors and preventing financial fraud, and has received numerous awards for its work.

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Binance Sees $12 Billion Outflow in Two Months, Investors Unconvinced

Bulletpoints:
• Binance has experienced a significant outflow of assets in the past two months, a recent report from Forbes found.
• Forbes analysts dove deep into Binance’s wallets and found that the exchange saw around $12 billion of outflows since November.
• A lack of consensus among analytics platforms led Forbes to worry about foul play within the exchange, as some reports showed gaps of several billion dollars in Binance’s wallets.

Binance, one of the world’s largest cryptocurrency exchanges, has experienced a massive outflow of assets in the past two months, according to a recent report from Forbes. Analysts dove deep into Binance’s wallets and found that the exchange saw around $12 billion of outflows since November. This outflow has been described as a soft bank run, with many users withdrawing their crypto assets from the exchange.

The report goes on to note that there is a lack of consensus among analytics platforms in terms of Binance’s actual holdings. Some reports show gaps of several billion dollars in Binance’s wallets, leading Forbes to worry about foul play within the exchange. However, the report only briefly addresses the state of the broad crypto market and underestimates its effect on Binance’s holdings.

In December, Binance made headlines when on-chain data showed that the exchange had lost $3 billion of assets in a single week. This was followed by a 15% decrease in the exchange’s total asset balance since November. The number of BUSD stablecoins, which is Binance’s native token, was slashed in half since then.

The massive outflow of assets from Binance has been attributed to the bearish market sentiment. Many investors are pulling their funds from the exchange as the crypto market shows signs of a downward trend. This trend is further exacerbated by the lack of clarity around the exchange’s actual holdings, which has led to mistrust among investors.

Binance’s CEO Changpeng Zhao has assured customers that the withdrawal amount wasn’t even among the exchange’s five largest and that there is no cause for concern. However, many are still skeptical of the exchange’s position and are taking their money out of the exchange.

Overall, the massive outflow of assets from Binance is a sign of the current bearish sentiment in the crypto market. Investors are increasingly wary of the exchange’s actual holdings, leading to mistrust and outflows. It remains to be seen how Binance will address this situation in the coming months.

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US Prosecutors Subpoena Hedge Funds in Binance Anti-Money Laundering Probe

• US prosecutors have issued subpoenas to hedge funds for records of their dealings with Binance.
• This is part of an ongoing investigation into potential violations of US anti-money laundering laws by Binance.
• Experts have expressed frustration with Binance due to its lack of know-your-customer (KYC) requirements, which could have been a conduit for criminals to launder money.

The US attorney’s office for the Western District of Washington has recently issued subpoenas to hedge funds in an effort to obtain communication records with Binance, one of the world’s leading crypto exchanges. This is part of an on-going investigation into potential violations of US anti-money laundering laws by Binance.

Earlier in December, Reuters reported that prosecutors were discussing a potential settlement with Binance. While Binance CEO Changpeng Zhao (CZ) denied that the exchange was working with the Department of Justice to settle matters out of court, legal experts have expressed their frustration with Binance. According to John Ghose, a former Justice Department prosecutor specializing in crypto cases, Binance’s lack of know-your-customer (KYC) requirements for years made it a conduit for criminals to launder money.

In response to this, Binance implemented KYC requirements in August 2021. This was done in an effort to increase transparency and reduce the risk of illegal activities. Additionally, Binance has also announced plans to launch a new “Compliance Hub” which would focus on providing an end-to-end regulatory compliance service.

Despite this, US prosecutors continue to investigate Binance for any potential violations of US anti-money laundering laws. It remains to be seen how this ongoing investigation will play out and what the consequences will be for the exchange. Either way, it is important for crypto exchanges and other financial institutions to ensure that they are compliant with all applicable laws and regulations. Failure to do so could lead to serious consequences.

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Cryptocurrency’s Future: CTO of Algorand Foundation Remains Optimistic

• The cryptocurrency industry has experienced a recent downturn, leading to concerns about its future.
• John Woods, CTO of the Algorand Foundation, remains optimistic about the future of cryptocurrencies as decentralized, self-sovereign tokens of credit.
• Woods believes that the builders in the industry, those focused on technology and infrastructure, are not concerned with price or market conditions but rather with building and improving the ecosystem.

The cryptocurrency industry has experienced a significant downturn in recent months, leading to concerns about the future of the industry and its potential for growth. However, John Woods, the CTO of the Algorand foundation, remains optimistic about the future of cryptocurrencies. According to Woods, the recent collapse of centralized exchanges has damaged consumer confidence and the price in the markets, but it hasn’t changed the fundamentals of cryptocurrencies.

Woods sees these decentralized, self-sovereign, internet-native tokens of credit as a new type of global banking system that is programmable and provides infrastructure for everyone. He believes that this system has the potential to revolutionize the way we think about money and finance, providing a more secure and resilient infrastructure. While he acknowledges that it may take some time for the market to recover, as happened with the global financial crisis and the dot-com bubble, he is confident that the industry will eventually flourish.

In addition, Woods points out that the amount of work being done to improve the technology and infrastructure of cryptocurrencies has not slowed down. The builders in the industry, those focused on technology and infrastructure, are not concerned with price or market conditions but rather with building and improving the ecosystem. This focus on building is what gives Woods hope for the future of cryptocurrencies. He sees potential for growth in areas such as international payments, remittances, and decentralized finance (DeFi).

Ultimately, Woods remains positive about the future of cryptocurrencies, noting that the industry is stronger than ever and is continuing to build out its infrastructure and technology. He believes that this will lead to a more secure, resilient, and programmable global banking system that will benefit society as a whole.

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FTX and Bahamas Liquidators Reach Agreement on Asset Recovery Strategy

• FTX debtors and Bahamas liquidators have come to an agreement on an asset recovery strategy.
• The two parties will cooperate on various efforts such as sharing information, arranging the return of property and filing litigation against other parties.
• They have agreed to inventory the crypto assets that the Bahamas Securities Commission currently holds in a Fireblocks wallet.

FTX, a popular crypto-asset exchange, has come to a mutually beneficial agreement between its debtors in the United States and its liquidators in the Bahamas. The agreement is centered around an asset recovery strategy that is designed to maximize stakeholder recoveries.

John J. Ray III, FTX’s CEO and Chief Restructuring Officer, stated that although discussions will continue, many of the issues have been settled. This includes the two parties cooperating on various efforts such as sharing information, arranging the return of property, and filing litigation against other parties.

Another major point of agreement between the two parties is to inventory the crypto assets that the Bahamas Securities Commission currently holds in a Fireblocks wallet. The Bahamas Securities Commission admitted to holding $3.5 billion of crypto and FTX claimed that regulators seized $300 million without any right to do so. Both parties are reportedly satisfied by the Bahamas Securities Commission’s safeguarding of those assets.

The press release indicates that the two parties have established a path forward to resolve any remaining issues, but that it may take time to realize the maximum potential of stakeholder recoveries. It is hoped that this agreement will bring stability to FTX and its customers, as well as setting a precedent for future asset recovery strategies.

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Vauld Rejects Long-Standing Acquisition Offer from Nexo

• Vauld, a crypto lending firm, has rejected a long-standing acquisition offer from its competitor Nexo.
• Vauld expressed concern over Nexo’s solvency and its plan to handle U.S.-based customers.
• Nexo had revised its proposal multiple times, with its final offer being rejected by Vauld.

Crypto lending firm Vauld has declared that it will not accept a long-standing acquisition offer from larger competitor, Nexo. The news came via a private letter sent to Nexo by Vauld’s co-founder and CEO Darshan Bathija on Jan. 5.

Vauld expressed worries over Nexo’s solvency and how it intended to handle U.S.-based customers. The proposed acquisition had been under consideration since July of last year, but hit several roadblocks in the months that followed. Nexo revised its proposal multiple times, with its final offer being rejected by Vauld. In the rejection letter, Vauld stated that it „unanimously do not accept your proposal as it stands.“

Hours before the rejection of the final offer, Nexo had published an open letter containing the proposal. In the letter, the company declared it to be „the best possible path forward“ and „the only path forward.“ The terms of the final offer proposed by Nexo included taking over Vauld’s customer base, assets, and liabilities. However, Vauld didn’t feel confident in Nexo’s solvency assessment and its plans to handle U.S.-based customers, leading to the rejection of the offer.

Vauld’s decision to reject the offer comes after its bankruptcy filing last summer due to the collapse of Celsius. Since then, Vauld had been relying on Nexo for assistance. The outcome of this offer is a major blow for Nexo, who had been hoping to expand their market share in the crypto lending space. It remains to be seen what the future holds for both companies.

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Crypto Firm Juno Recommends Self-Custody or Selling Crypto Assets

• Juno crypto firm advised customers to self-custody or sell their crypto assets due to uncertainty with its crypto partner.
• They disabled the crypto-buying feature and automatically converted stablecoins in user wallets to USD, which can be found in FDIC-insured accounts.
• Juno recommended withdrawing crypto assets to a self-custody wallet or selling crypto for cash in a Juno checking account, which is FDIC insured up to $250,000.

Crypto firm Juno recently advised its customers to self-custody or sell their crypto assets due to uncertainty with its crypto partner. While the firm did not reveal the identity of this partner, many within the community have speculated that it is Wyre. This news came after Wyre CEO Ioannis Giannaros reportedly told employees that the crypto payments firm would shut its operations.

In response to this, Juno disabled its crypto-buying feature and automatically converted stablecoins in user wallets to USD. The USD could be found in their FDIC-insured accounts, and the firm would reimburse any fees due to such conversion. To further ease the process, Juno had also increased its crypto withdrawal limits for metal users so they could withdraw their assets without any fees.

However, users were still left to decide what to do with their other crypto holdings. Juno strongly recommended withdrawing crypto assets to a self-custody wallet or selling crypto for cash in a Juno checking account. This account is FDIC insured up to $250,000 via their partner bank.

Juno reassured customers that their funds were safe and that they would be able to access them as soon as the situation was resolved. The firm also promised to keep users updated and expressed their regret for the inconvenience caused.

Despite the uncertainty, Juno promised to continue offering their other services to customers. This includes access to over 35,000 free ATMs, debit card use, and ACH transfers. The firm also promised to provide users with the best possible experience and to work closely with their partners to ensure the safety of their funds.

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Bitcoin to Remain Flat in 2023 After Second-Worst YTD Since Launch

• Bitcoin (BTC) saw its second-worst year to date (YTD) in 2022 since launch — predicted to remain flat through 2023, according to Arcane Research (AR).
•The crypto winter of 2022 was fueled by tightening macro conditions and vastly exacerbated by crypto-specific leverage and awful risk management by core market participants.
•The Federal Reserve’s effective funds rate grew from 0% to 4.25%, leading to a massive repricing of risk assets that all benefitted from easy money and a low-interest rate regime in late 2022 and throughout 2021.

As the year 2022 is coming to an end, Bitcoin is expected to remain flat through 2023. According to Arcane Research (AR), this marks the second-worst year to date (YTD) for Bitcoin since its launch. By the end of 2022, Bitcoin had declined by 65%, only performing worse in 2018 when it saw a 73% decline on the YTD.

The decline in Bitcoin prices was caused by a combination of macroeconomic conditions and poor risk management by core market participants. AR noted that tightening macro conditions led to the “crypto winter of 2022”, which was exacerbated by crypto-specific leverage and risk management.

The Federal Reserve’s effective funds rate also grew from 0% to 4.25%, leading to a massive repricing of risk assets that all benefitted from easy money and low-interest rates. This re-pricing led to losses across most asset classes, with cryptocurrencies taking the biggest hit.

If this trend continues, the next Bitcoin market bottom may be the longest-lasting drawdown ever. AR predicts that Bitcoin will trade in a predominantly flat range in 2023, but will close the year at a higher price than the yearly open.

In addition, the Federal Reserve’s tightening of monetary policy will likely continue in 2023. This could lead to further re-pricing of risk assets, with cryptocurrencies continuing to take a hit.

Overall, Bitcoin is expected to remain flat through 2023, following its second-worst YTD since launch. The decline in prices is due to a combination of macroeconomic conditions and poor risk management by core market participants. If this trend continues, the next Bitcoin market bottom may be the longest-lasting drawdown ever. Despite this, AR predicts that Bitcoin will close 2023 at a higher price than the yearly open.

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Pattern Trader Rückblick

 

von Evangelina Chapkanovska
Zuletzt aktualisiert: März 1, 2022

Offenlegung des Inserenten
AUM:
Nicht bekannt gegeben

Mobile App:
Ja

Anzahl der Kryptowährungen:
5

Abhebungsgebühren:
Ja

Kontotypen:
Einzelpersonen und Unternehmen

Akzeptiert Geldscheine:
Ja

Pattern Trader-Logo
Redaktionelle Bewertung

SITE BESUCHEN
Sind Sie auf der Suche nach einer sicheren und zuverlässigen Plattform, um Ihre Krypto-Börsen zu unterstützen? Möchten Sie hohe Renditen auf Ihre digitalen Vermögenswerte sehen? Pattern Trader könnte das sein, wonach Sie suchen.

Obendrein ist es sogar frei von all dem verwirrenden Krypto-Hokuspokus. So können auch Kryptowährungs-Neulinge sofort selbstbewusste Investoren werden.

Machen Sie sich keine Sorgen, wenn Sie noch nicht mit der Plattform vertraut sind und Sie nicht viele Pattern Trader-Bewertungen finden können. In Anbetracht der Tatsache, dass es relativ neu ist, sind Sie wahrscheinlich nicht der einzige, der im Dunkeln tappt. Lassen Sie uns versuchen, Ihnen zu helfen, alles herauszufinden, was es zu wissen gibt, mit unserer Pattern Trader Überprüfung.

Was ist Pattern Trader?

Pattern Trader zielt darauf ab, die Anlaufstelle für Investoren zu sein, um ihre Krypto-Bestände zu speichern und von ihnen zu profitieren. Die Plattform zahlt Zinssätze zwischen 7 % und 12 %, einfach dafür, dass sie Ihre digitalen Vermögenswerte verwahrt. Darüber hinaus ist Pattern Trader benutzerfreundlich, frei von unnötigem Finanz- und Kryptojargon und ermöglicht die Nachverfolgung der Erträge in Echtzeit.

Die im Dezember 2021 gestartete Plattform muss sich noch beweisen und ihren Platz unter den Mitbewerbern finden. Was sie jedoch von den anderen unterscheidet, ist ihr Kernkonzept. Das Team, das dahinter steht, möchte die einfachste Benutzererfahrung bieten und gleichzeitig die höchsten Erträge aus dem Austausch auf dezentralen Finanzmärkten (DeFi) erzielen. Das Endergebnis soll eine für alle offene Kryptowelt sein.

Wie man Pattern Trader nutzt

Um ein Pattern Trader-Nutzer zu werden, müssen Sie zunächst ein Konto auf der Plattform einrichten. Etwas, das uns bei der Zusammenstellung dieser Pattern Trader-Bewertung aufgefallen ist, ist, dass neue Benutzer einen bescheidenen Anmeldebonus von 10 USDT erhalten, damit sie besser verstehen können, wie die Dinge funktionieren.

Nachdem Sie Ihr Konto erstellt haben, können Sie es entweder durch Krypto oder Fiat-Transfer (wenn Sie noch keine Krypto haben) finanzieren. Die Plattform listet alle verfügbaren Investitionsoptionen und die damit verbundenen prozentualen Renditen auf. Sie können dann wählen, ob Sie nur in einen Vermögenswert investieren oder die Mittel auf verschiedene Produkte verteilen möchten.

Abhebungen, ob in bar oder in Kryptowährungen, können jederzeit vorgenommen werden. Die Gelder werden in der Regel innerhalb von 24 Stunden bearbeitet.

Was sind die Kontoanforderungen?
Für die Registrierung müssen Sie mindestens 18 Jahre alt sein und einige persönliche Daten angeben. Denken Sie daran, dass Sie etwas mehr brauchen, als nur Ihre E-Mail-Adresse und Ihr Passwort einzutippen. Alle Pattern Trader-Konten durchlaufen einen Verifizierungsprozess, um die Identität der Nutzer und die Herkunft der Gelder zu bestätigen. Der Prozess ist Standard für alle zuverlässigen Krypto-Börsen, also nichts zu befürchten.

Pattern Trader-Benutzer werden gebeten, ein Dokument zur Verifizierung ihrer Identität und Adresse vorzulegen. Dokumente, die zur Verifizierung Ihrer Identität dienen, sind Führerscheine, von der Regierung ausgestellte Ausweise oder Reisepässe. Die Adressverifizierung kann auch durch eine Rechnung eines Versorgungsunternehmens, einen Kontoauszug oder ein von der Regierung ausgestelltes Dokument, das Ihre aktuelle Adresse zeigt, erfolgen.

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