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Binance CEO Denies CFTC Charges, Calls Them ‘Unexpected & Disappointing’

• Binance CEO Changpeng Zhao has denied all of the CFTC charges brought against him and his exchange.
• The CFTC accused Zhao of insider trading, evading KYC regulations, and trading on its own platform.
• Zhao responded to the accusations by explaining that Binance does not and never will trade for profit or manipulate the market under any circumstances.

CFTC Charges Against Binance

The Commodity Futures Trading Commission (CFTC) hit Binance with a barrage of accusations in a lawsuit on the 27th of March, 2023. The charges included allegations that the CEO had indulged in insider trading and evaded KYC (Know Your Customer) regulations, as well as claims that there were 300 “house accounts” directly or indirectly owned by the CEO.

Changpeng Zhao’s Response

Binance CEO Changpeng Zhao has responded to these charges, denying any wrongdoing on his part. He called the accusations “unexpected and disappointing,” further stating that he was surprised as they had been cooperating with the exchange over a couple of years. Additionally, he clarified that Binance does not and never will trade for profit or “manipulate” the market under any circumstances. Moreover, he added that all company revenues were in crypto and needed to be converted into fiat from time to time to cover expenses related to the functioning of their platform. He also mentioned that there was a 90-day no-trading rule for all employees so as to prevent them from selling coins within 90 days after purchase.

KYC Regulations

Regarding KYC regulations, Zhao stated that Binance had implemented robust KYC procedures which are in compliance with international AML standards including FATF recommendations that have been adopted by multiple countries worldwide such as Japan and Singapore among others. Furthermore, he asserted that it would be impossible for anyone to open an account without passing these regulations first since they are required during registration itself before any user can even access their dashboard/wallet page etc..

Withdrawal Of Funds

Following news of these charges being brought against them, users began withdrawing large sums – around $400 million in 24 hours – leading up to fears about depositors leaving en masse due to lack of trust in its security measures or other issues related thereto.. However, according to several reports from independent sources such as Messari Research & Coin Metrics Inc., this was not indicative of a capital flight but rather a result of traders shifting funds from hot wallets into cold storage or vice versa due to price fluctuations in Bitcoin prices which occurred simultaneously at around this same time period..

Conclusion

In conclusion, it is clear from both sides’ statements regarding this issue that there is no evidence yet indicating wrongdoing on behalf of either party involved but only speculations based off certain information gathered thus far without substantial proof backing them up at present moment hence why more investigations are necessary before coming out with any conclusive results regarding this matter one way or another moving forward

Crypto Markets on Edge Ahead of Fed’s Interest Rate Decision

• The Federal Reserve is expected to announce a 25 basis points rate hike tomorrow, with the current market view being a strong likelihood of this happening.
• The banking industry has seen some respite today, with First Republic Bank up 30% and Credit Suisse and UBS both seeing increases in share price.
• Crypto markets could be negatively impacted by the interest rate decision tomorrow, however there is an expectation that when the Fed does eventually pivot to cutting rates, crypto could benefit significantly.

Interest Rate Decision

Tomorrow’s interest rate decision from the Federal Reserve (Fed) could be an important factor in whether Crypto continues its rise of the last few months. According to the CME FedWatch tool, there is a strong likelihood of a 25 basis points rate hike, with 81.9% probability of this happening at present. Some analysts are suggesting that the Fed should not raise rates at all and some even suggest it needs to start cutting straight away in order to take pressure off banks.

Banking Industry Update

The banking industry has seen some respite today, with First Republic Bank up 30%, Credit Suisse halting haemorrhaging and UBS up 8%. Treasury Secretary Janet Yellen is expected to announce today that federal government intervention would occur if any other banks start to fail.

Impact on Crypto Markets

Crypto markets could be negatively impacted by tomorrow’s interest rate decision if it is indeed raised by 25 basis points as anticipated. This will follow 3 major banks ceasing providing fiat on/off ramps which have already had an effect on crypto markets. However, there remains expectations that when the Fed pivots to cutting rates – crypto could benefit significantly from such a move.

Expectations for Interest Rate Cut

Many analysts suggest that the Fed shouldn’t hike rates at all, and some are even of opinion that it needs to start cutting straight away in order to take pressure off banks. There is also anticipation that when the Fed does eventually pivot towards cutting rates – it will need to have built up a decent percentage of around 5% + in order for enough points to cut with – giving further ground for potential gains in cryptos should this come about sooner rather than later.

Conclusion

It remains uncertain how exactly crypto markets will react to tomorrow’s interest rate decision but investors are likely hoping for no change or even better – a surprise cut! Banks have been given some respite today but actually getting back into growth may depend somewhat on what happens tomorrow with regard to interest rates – so watch this space!

Invest in Startups Easily with the Orbeon Protocol (ORBN)

• The article discusses the potential for significant gains for Orbeon Protocol (ORBN) following recent market dips and coin meltdowns.
• It also covers BNB (BNB) and FTX Token (FTT), which have experienced price changes lately.
• Analysts remain optimistic that BNB (BNB) will experience future growth, while FTX Token (FTT) may be rebounding but investing in it long-term is questionable.

The Potential of Orbeon Protocol (ORBN)

Analysts argue that the bulls are prepared to flip the overall market movement following the most recent coin meltdown and succeeding marketplace dips. With prices for both BNB (BNB) and the FTX Token (FTT) experiencing change recently, Orbeon Protocol (ORBN), in phase 3 of its presale, offers potential for significant increases.

Price Changes of BNB (BNB)

BNB (BNB) is one of the most widely used utility coins and benefits consumers in various contexts. At its core, BNB (BNB) is used to cover fees and trade on the Binance exchange. The price of BNB (BNB) has increased by more than 6% recently. This price increase, unfortunately, does not compensate for the valuation that BNB (BNB) shed in 2022. The majority of experts have optimistic forecasts for BNB (BNB), but they expect a good future price, not an excellent one. At the time of this writing, BNB (BNB) is worth $280.10, down 36% on a year-to-date basis.

FTX Token’s Recent Performance

The FTX Token (FTT) is the native coin of the bankrupt FTX exchange. Due to a shortage of liquidity and improper fund administration, FTX and FTX.US fell in November 2022. After this collapse, the FTX Token(FTT also lost its value In the last three months,the FTX token saw a colossal dropof 95% as it currently sits at $0.9471 However ,the ftx token experienced an 8 %surgein previous week .The trading volumeof FTT has also skyrocketed by 156 %recently These indicators show thatthe FTT may be rebounding ,however experts believesthat investing intothis coinfor long termis questionablebut should remain optimistic .

Orbeon Protocol’s Unique Investment Platform

Orbeon Protocol(ORBN ) seeks to shake upcrowdfunding industry by establishinga unique investment platformthat will allow users topurchase ortrade equity -based fractionalizedNFTs representing investments instartup companies whichallows you tobuy equity intoa company you believe infor a price as low as$1 .Orbeon protocol willgive up -and -coming businessesa new way toreach theirfunding goalswhile directly communicating withtheir communityat a fractionof cost .Not onlythat ,butOrbeone protocolusers canexchange acrossdifferent blockchains onone platformthanks to themulti -chain capabilities whichwill enable liquidityacross different crypto assets .

Conclusion

In conclusion ,it’s clear thatinvestors needto keepan eye on allthree coins mentionedabove – OrbeonProtocol( ORBP ),as wellas BNBand FTT tokens .It appears thatwhile analystsexpectgoodfuturepricefor bnb ,ftt tokensmay bereboudingbutinvesting in themforlong termisquestionable at bestHowever ,the most excitingopportunity lieswith OrbeonProtocolwhichoffersuniqueinvestmentplatformsthatcan helpstartupsreach theirfundinggoalswhile giving investorsreal lifevettedbusinessbrandinvestment opportunitiesina singleplatform !

Ethereum Scalability Solution: ConsenSys Launches Public Test Of zkEVM Rollup Network

• ConsenSys is set to begin public testing of its zkEVM rollup network on March 28, 2023.
• The network offers scalability solutions by performing off-chain computations on a secondary layer.
• The testnet consists of features and integrations designed to improve security, expedite onboarding times, and remove developer complexity.

ConsenSys To Begin Public Testing Of zkEVM Rollup Network

ConsenSys has announced that it is set to begin the public testing of its upcoming zero-knowledge Ethereum Virtual Machine (zkEVM) on a public testnet. Scheduled to commence on March 28th, this will clear the path for an eventual mainnet merger sometime in 2023. The private beta phase saw the network process over 490,000 transactions from a number of decentralized applications.

Benefits Of zkEVM Rollup

The zk-rollup network offers scalability solutions by performing off-chain computations on a secondary layer, resulting in faster and cheaper transactions and prioritizing the Ethereum network’s overall security. It also features zero switching costs which could be beneficial to projects in the ecosystem; developers can quickly build on the zkEVM or migrate existing dApps without rewriting smart contracts or changing code. Gas fees are charged in ETH, removing the need for third-party code translation.

Integrations With Popular Ethereum Tools

The rollup will feature a number of integrations with popular Ethereum tools such as RPC Service Infura, Truffle, and MetaMask wallet. This integration will expedite onboarding times while Infura integration will allow developers to ship decentralized applications at scale with ease.

Collaborative Effort Behind The Rollup

The ConsenSys zkEVM is a result of work by teams from MetaMask, Infura, Truffle and developers on Gnark and Besu who worked together in order to create this layer-2 scaling solution. It offers fast finality, high throughput as well as security of Ethereum settlement thanks to its ability to perform off-chain computations efficiently.

Conclusion This announcement marks an important milestone for ConsenSys which has successfully completed its private beta phase; they have now opened up their platform for public testing before they move onto their mainnet launch later this year.

Unlock the Magic with The Moon Boyz: Your Chance to Own a Piece of History

• The Moon Boyz is an NFT collection built on the Ethereum network, with 10,812 items viewable at OpenSea.
• The collection has 3720 owners and a market capitalization of 196.24 ETH. Since its launch, 9,019 collections sales were made at an average price of 0.17 ETH (~$267.37).
• NFTs in The Moon Boyz collection may be considered overpriced or underpriced depending on the development and promotion of the project by its creators and community.

Overview of The Moon Boyz

The Moon Boyz is a non-fungible tokens (NFT) collection built on the Ethereum network launched in 15 September 2021. 10,812 items of the collection can now be viewed at OpenSea, with a total number of 3720 owners within 527 days since its release.

Price and Sales

The market capitalization of The Moon Boyz NFT collection is 196.24 ETH. Since created the The Moon Boyz, 9,019 collections sales were made at an average price of 0.17 ETH (~$267.37 at the time of writing). This created a total volume in 1,509.679 ETH. The floor price of The Moon Boyz is 0.0195 and the 30-day trading volume is kept at 1.25 ETH. Payments for this collection are accepted in both ETH and WETH tokens.

Expensive vs Not Expensive NFTs

NFTs are very new to the blockchain ecosystem and are still in their infancy so there is no historical data or precedence that can assist in determining their value accurately yet; however some projects have had first mover advantages which have allowed them to become more established than others within this space and thereby increase their perceived value due to increased liquidity or other factors such as improved user experience or creative elements being added over time . On top of this there are also opportunists who seek to benefit from market growth without actually adding any real value through their product offering which will ultimately devalue said NFT project as it fails to gain traction or legitimacy over time .

The Moon Boyz Collection Examples

Some examples from this collection include:

•Moon Boyz #0

•Moon Boyz #1

•Moon Boyz #2

•Moon Boyz #3

Fees

The fees associated with purchasing from this specific NFT project include: buyer fee to dev – 0 basis points; seller fee to dev – 500 basis points; buyer fee to opensea – 0 basis points; seller fee to opensea – 25 basis points

Explore the Magical Woodies Generative Characters Collection!

• Woodies Generative Characters are non-fungible tokens built on the Ethereum network.
• The market capitalization is 361.76 ETH, with an average price of 0.37 ETH per collection sold.
• Pricing of NFTs can be influenced by development and promotion by creators and community.

Overview of Woodies Generative Characters

Woodies Generative Characters are a non-fungible tokens collection built on the Ethereum network launched in 24 September, 2021. 9,739 items of the Woodies Generative Characters collection can now be viewed at OpenSea. The total number of owners has reached 3908 within 511 days since its release.

Price and Sales

The market capitalization of Woodies Generative Characters NFT collection is 361.76 ETH. Since created the Woodies Generative Characters, 7,683 collections sales were made at an average price of 0.37 ETH (~$637.44 at the time of writing). This created a total volume in 2,869.098 ETH. The floor price of Woodies Generative Characters is 0.0392 and the 30-day trading volume is kept at 3.77 ETH. The payment tokens of the Woodies Generative Characters collection are ETH, WETH, USDC, ASH, APE..

Why Are Some NFTs Expensive?

NFTs are very new to the blockchain ecosystem and are still in their infancy meaning there is no historical data or precedence to assist in determining value for an NFT yet . NFT projects that started at early stages have garner legitimacy purely because they had first mover advantage and had opportunity to improve from issues that plagued the NFT market , making them more valuable as time went on . When NFT boom took flight many people realized profits beyond their wildest dreams creating space for opportunists to exploit immense market growth . While some NFTs can be considered digital art , created by artist who recognize value it add to creative space , others have been created purely out greed or need to exploit which often have no value and become garbage .

Is Woodie’s Overpriced or Underpriced?

It is difficult to determine whether or not NFTs from Woodie’s generatives characters are overpriced or underpriced due to lack preexisting values in such a new emerging market . Making such assessement will become clearer when markets for metaverses develop more actively . Price is also influence by how well project developed & promoted within it’s creator & community .

Conclusion

Woodie’s generatives characters represent a unique take on collecting non fungible tokens built upon Ethereum network & presented through OpenSea platform with 3908 owners so far . It’s pricing structure depends greatly how well project developed & promoted within it’s creator & community as well as developments within larger metaverse space .

Tether Reaches New Heights with $700 Million Q4 Profit

• Tether has managed to improve its financial situation drastically and top it all with a $700 million Q4 net profit.
• This was achieved by getting commercial paper off of its books, giving itself a target of doing this by the end of 2022 and an attestation report, provided by top-5 accounting firm BDO Italia at the end of December 2022.
• The report vouched for the integrity of Tether’s own Consolidated Reserves Report, stating that there was no longer any commercial paper backing, that it had $67 billion in consolidated assets, and that it held excess reserves of at least $960 million.

Tether’s Improved Financial Situation

The beleaguered token behind the USDT stablecoin, Tether (USDT), has managed to make drastic improvements to its financial situation during 2022. After much criticism over its ‘dubious’ backing of the US dollar-pegged token through commercial paper, Tether has now been able to get rid of this form of backing altogether. An attestation report at the end of December 2022 provided by BDO Italia confirmed this achievement.

Reserves Vouched For

The attestation report vouched for the integrity of Tether’s own Consolidated Reserves Report. This included confirmation that there was no longer any commercial paper backing and that it had $67 billion in consolidated assets as well as holding excess reserves amounting to at least $960 million.

Statement from CTO

Paolo Arduino, CTO for Tether made a statement on their website expressing his pride at how they have handled bear markets and black swan events during such a tumultuous year-end: “After a tumultuous end to 2022, Tether has once again proven its stability, its resilience and its ability to handle bear markets and black swan events” he said before adding: “Last quarter, Tether generated over $700 million in profits”.

Question Mark Remains

Although these improved finances are promising news for Tether supporters there is still a question mark against them until they undergo full financial audit allowing unrestricted access to their books – something which is yet to happen despite calls from some detractors.

Conclusion

Overall then despite some reservations regarding full transparency into their accounts etc., it appears that Tether has managed to turn around their fortunes considerably throughout 2022 – resulting in a substantial Q4 net profit as well as removal from their balance sheet all forms of commerical paper backing FUD upon FUD (fear uncertainty doubt).

Mastercard NFT Lead Resigns, Mints Resignation Letter as NFT

• Mastercard has faced controversy after the resignation of its NFT product lead, Satvik Sethi, who minted his resignation letter as an NFT.
• Sethi alleged workplace mistreatment and pay cuts during his time at Mastercard.
• He asked for support from Twitter followers by minting an NFT of his resignation letter, with all proceeds going towards survival.

Mastercard’s Controversial Foray Into NFTs

Payments tech firm Mastercard began its foray into NFTs sometime in 2021, but is now facing some controversy due to the recent resignation of its former NFT product lead, Satvik Sethi. In a coup de grâce move, Sethi minted and sold his resignation letter as an NFT. Previous reports have detailed how Mastercard has partnered with other crypto firms such as Coinbase, even going forth with the acquisition of digital asset analytics firm CipherTrace.

Allegations Of Workplace Mistreatment

Sethi railed against the payments tech giant for allegedly mistreating him and downplaying his role in the company’s ambition to enter the crypto space. He claims that he was subjected to pay cuts during a bear cycle and industry-wide decline in NFTs, which coincided with his decision to move from New York City to London. On top of this, he alleges that he was harassed by management due to mismanaged processes and internal inefficiency.

Minting An NFT Of His Resignation Letter

After resigning from Mastercard, Sethi asked his Twitter followers to support him by purchasing an NFT of his own resignation letter – minted for 0.023 ETH – with all proceeds going towards survival. However, he also shared that he will soon lose his British work visa, resulting in having to work and be based in India for the foreseeable future.

Mastercard Partnerships With Crypto Firms

Despite this controversy surrounding its former employee’s allegations of workplace mistreatment and pay cuts, it is clear that Mastercard is serious about making a mark on the crypto space through partnerships with other crypto firms such as Coinbase and CipherTrace – indicating their commitment to developing innovative blockchain solutions for businesses around the world.

Conclusion

The recent allegations made against Mastercard regarding workplace treatment are certainly concerning; however it appears that they are still committed to developing blockchain-based solutions via strategic partnerships within the crypto community.

OpenSea’s Toolkit Unlocks NFT Potential for Creators

Bullet Points:
• OpenSea has released a new toolkit for creators to unlock the potential of NFT creations.
• The kit includes an asset template that allows creators to define the look, content, and formalized categories of each NFT minted on the platform.
• The kit also allows creators to manage their own minting experience with features like smart contract deployment and tiering capabilities.

OpenSea, the popular Ethereum NFT platform, has released a new toolkit for creators, in line with its suite of Drops features. This toolkit provides creators with various options for unlocking the potential of their creations and taking part in the growing NFT token economy.

The toolkit includes an asset template that gives creators the ability to define the look, content, and formalized categories of each NFT minted on the platform. This helps creators to structure and organize their digital assets, as well as giving them the opportunity to create a personalized artist profile for their NFT releases. In addition to this, the toolkit also provides creators with a range of features that help streamline the minting process. These include multi-stage minting phases that can be tailored to the specific needs of the creator, allowlist support, and smart contract deployment across supported EVM chains.

Creators are also able to configure their own minting experience with features such as tiering capabilities. This gives creators the ability to control the distribution of their NFTs, allowing them to choose who can access different tiers and what types of rewards they will receive. With this level of control, creators are able to better manage their NFTs and maximize their potential.

Overall, the new toolkit from OpenSea offers creators a range of features that can help to maximize the potential of their NFTs. This in turn helps to support the growing NFT token economy and encourage more people to get involved. With the toolkit, creators are able to manage their minting experience more effectively, giving them the opportunity to create and share their digital assets with the world.

Wales Accumulate 69 Million XRP Tokens, Triggering Price Recovery Hopes

• Whales have purchased 69 million XRP tokens in the past 24 hours.
• The largest whale activity recorded was the movement of 35 million XRP worth around $15 million to the Bitstamp exchange.
• According to Whalestats, XRP was the most traded token among the top 100 BSC whales.

The cryptocurrency market is heating up with the XRP price dipping in 2022 during the crypto winter. Despite the back-and-forth legal exchange between Ripple Labs and the U.S. Securities and Exchange Commission, the token is still attracting interest from whales and institutional investors. WhaleAlert reported that whales had moved 128 million-plus XRP worth close to $53 million in the last day. The largest whale activity recorded in that period was the movement of 35 million XRP worth around $15 million to the Bitstamp exchange.

Furthermore, according to the data, whales have purchased up to 69 million XRP tokens in 24 hours. The first accumulation noted by Whale Alert is the addition of 33 million XRP (approx worth above $13 million) to a Bitstamp address. This transaction was followed by another large whale accumulation of 36 million tokens sent to a Bitstamp address worth 14,972,855 USD at the time of the transaction.

Whalestats also reports that XRP was the most traded token among the top 100 BSC whales. The top 100 whales on this list currently have a total of 1.9 million XRP tokens, with the largest whale holding close to 650,000 XRP.

The increasing acquisition of XRP tokens by whales and institutional investors hints at a potential XRP price recovery. This is further supported by the launch of the Flare Network, which is expected to unlock the value of XRP tokens. With the current legal cases, XRP remains a controversial token, but investors with a long-term outlook may still be able to capitalize on the future potential of the coin.