20h ago • cryptodaily
Coinbase-Backed Decentralized Social Blockchain (DeSo) Revolutionizes with New Proof of Stake System
Los Angeles, California, 24th March, 2023, ChainwireDeSo, the decentralized social media blockchain, has introduced a groundbreaking Proof-of-Stake (PoS) system, setting a new standard for the industry. This innovative technology promises to revolutionize and build upon the successes of previous Proof-of-Stake systems, providing greater energy efficiency and security while making its native currency, $DESO, deflationary.Implementing this new Proof-of-Stake system marks a significant milestone for the DeSo Blockchain, a new layer-1 that raised $200 million from Sequoia, Andreessen Horowitz, Coinbase Ventures, and more.DeSo's state-of-the-art system combines and refines all of the best elements of earlier PoS systems, including Tendermint, HotStuff, DiemBFT, Ethereum, Solana, Avalanche, and Flow.It was aptly named "Revolution" because of its revolutionary new features that build on the successes of previous mechanisms of other leading layer-1 blockchains. One of the most exciting new features is a new concept called Revolt."Revolution represents a major breakthrough in the blockchain industry. Our new concept, Revolt, not only makes Revolution one of the most censorship-resistant systems in existence but also addresses a major issue with existing smart-contract systems - miner-extractable value,'" said Nader Al-Naji, founder of DeSo.Nader Al-Naji added, "We're excited to introduce roughly a dozen distinct breakthroughs over existing proof-of-stake mechanisms with Revolution. These breakthroughs are arguably worthy of their own distinct academic paper." Al-Naji's statement highlights the significant advancements that Revolution has made and its potential to drive innovation in the blockchain space.Like the Ethereum PoS system, DeSo's Revolution PoS requires validator nodes to lock up a deposit of $DESO on the network to participate in consensus. Using crypto as collateral compels the nodes to behave appropriately and helps keep the network secure.Other exciting features include:Maximum deflation, where transaction fees are burned to the maximum extent possible, making $DESO deflationary.Revolution Rule, which automatically times out leaders that are censoring the mempool transactions.Sovereign staking, where users only need to lock their $DESO for roughly three hours, significantly improving security.The white paper has yet to be released but will be very soon. Users can read more about DeSo's Revolution Proof-of-Stake here.Exciting times lie ahead for the decentralized social media blockchain as it gears up to release a series of groundbreaking innovations on top of Revolution Proof-of-Stake.DeSo is changing how we interact with social media with upcoming launches such as DeSo Drive and The Decentralized Web. DeSo Drive provides users with a faster, cheaper, and more secure alternative to Google Drive, while The Decentralized Web lays the foundation for a fully-decentralized internet that is accessible to everyone.These innovations embody DeSo's bold new vision for the future of social media and the internet."As a team, we remain focused on our mission to move away from a world where a handful of megacorps control our information," said Nader Al-Naji, founder of the DeSo blockchain. Nader Al-Naji added, "With the launch of Revolution, DeSo Drive, the Decentralized Web, and our other upcoming launches, we're not just building a better blockchain. We're building a technological foundation that we believe will ultimately replace the current platform monopolies that custody all of our sensitive data today." Al-Naji's statement emphasizes the long-term vision of the DeSo team to create a more decentralized and user-centric future for the internet.This is just the latest in a string of successes for DeSo that recently saw them launch MegaSwap, which allows instant, cross-chain swaps for Bitcoin, Ethereum, Solana, USDC, and soon to be many more currencies.Additionally, DeSo just went live with Openfund, a breakthrough fundraising platform that allows entrepreneurs to launch tradeable coin-backed fundraising rounds open to anyone in the world. Users can learn more about DeSo and claim their decentralized, censorship-resistant profile here.About DesoDeSo is a new layer-1 blockchain built from the ground up to decentralize social media and scale storage-heavy applications to billions of users. It raised $200 million and is backed by Sequoia, Andreessen Horowitz, Coinbase Ventures, Social Capital, Polychain Capital, Winklevoss Capital, Pantera, and other blue chip funds.ContactGrowth Marketing LeadAsh GhaemiDeSo [email protected]
1 day ago • cryptodaily
Metaverse NFT Trading Hits New High, Crypto Daily TV 24/3/2023
In Todays Headline TV CryptoDaily News:
Metaverse NFT trading volume hit new all-time high.
Non-fungible token trading increased across virtual worlds in the first quarter of 2023, totaling $311 million so far this year. Virtual land trading reached an all-time high this past quarter with 147,000 trades.
Bitcoin inches towards $28K.
Bitcoin gradually moved to just under $28,000 as traders digested the quarter-point interest rate raise by U.S. Federal Open Market Committee, in line with expectations.
Stablecoin issuer MakerDAO votes to retain USDC as primary reserve.
The MakerDAO community favored keeping the USDC stablecoin as the primary reserve asset for its DAI stablecoin, the protocol’s governance site showed. 79% of participants backed the decision in a ranked-choice vote, with the rest preferring to diversify the reserves.
BTC/USD skyrocketed 3.2% in the last session.
The Bitcoin-Dollar pair rose 3.2% in the last session after gaining as much as 5.4% during the session. The Ultimate Oscillator's positive signal is in line with the overall technical analysis. Support is at 25372.3333 and resistance at 29758.3333.
The Ultimate Oscillator is currently in the positive zone.
ETH/USD skyrocketed 4.3% in the last session.
The Ethereum-Dollar pair skyrocketed 4.3% in the last session. The RSI is giving a positive signal, which matches our overall technical analysis. Support is at 1647.1133 and resistance at 1862.0933.
The RSI is currently in the positive zone.
XRP/USD exploded 5.1% in the last session.
The Ripple-Dollar pair skyrocketed 5.1% in the last session. The Stochastic indicator is giving a positive signal. Support is at 0.369 and resistance at 0.5008.
The Stochastic indicator is currently in the positive zone.
LTC/USD skyrocketed 6.1% in the last session.
The Litecoin-Dollar pair skyrocketed 6.1% in the last session. The Ultimate Oscillator is giving a positive signal. Support is at 76.251 and resistance at 93.571.
The Ultimate Oscillator is currently in the positive zone.
Daily Economic Calendar:
NL Gross Domestic Product
The Gross Domestic Product is a measure of the total value of all goods and services produced by a country. The GDP is considered as a broad measure of economic activity and health. The Dutch Gross Domestic Product will be released at 05:30 GMT, Japan's Jibun Bank Services PMI at 00:30 GMT, Japan's Jibun Bank Manufacturing PMI at 00:30 GMT.
JP Jibun Bank Services PMI
The Jibun Bank Services Purchasing Managers Index (PMI) captures the business conditions in the services sector. The services PMI is an important indicator of the overall economic conditions.
JP Jibun Bank Manufacturing PMI
The Jibun Bank Manufacturing PMI gives an early snapshot of the health of the Japanese manufacturing sector.
UK Retail Sales
The Retail Sales measures the total receipts of retail stores. Monthly percent changes reflect the rate of change of such sales. The UK's Retail Sales will be released at 07:00 GMT, the US Durable Goods Orders at 12:30 GMT, the UK's GfK Consumer Confidence at 00:01 GMT.
US Durable Goods Orders
The Durable Goods Orders measures the cost of orders received by manufacturers for durable goods, which means goods which should last three years or more, excluding the transport sector.
UK GfK Consumer Confidence
The GfK Group Consumer Confidence is a leading index that measures the level of consumer confidence in economic activity.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
1 day ago • cryptodaily
Crypto Titans Clash: Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), and Orbeon Protocol (ORBN) Compete for Dominance
In the high-stakes world of cryptocurrency, four giants are vying for supremacy: Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), and the newcomer Orbeon Protocol (ORBN). These Crypto Titans are in a fierce battle, each bringing unique strengths. While Bitcoin (BTC), Ethereum (ETH), and Ripple (XRP) continue to flex their muscles, Orbeon Protocol (ORBN) is poised to disrupt traditional financing models for startups and crowdfunding through its innovative use of fractionalized NFTs. With market experts predicting a 6000% return from the presale as Orbeon Protocol (ORBN) has already posted a staggering 2202% gain to $0.0921 in phase 11, Orbeon Protocol (ORBN) is confidently entering the fray, ready to challenge the status quo.
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Orbeon Protocol (ORBN)
Orbeon Protocol (ORBN) will revolutionize the established crowdfunding and venture capital industries by using fractionalized NFTs. Orbeon Protocol (ORBN) will issue fractionalized, equity-backed NFTs, allowing average investors to benefit from early-stage investments in outstanding enterprises.
Orbeon Protocol (ORBN) intends to change the venture capital and crowdfunding industries by enabling firms to convert their ownership into NFTs that investors can buy for as little as $1.
The "Fill or Kill" approach of Orbeon Protocol (ORBN) protects users against failed fundraising rounds. The Orbeon Protocol (ORBN) assures, the NFTs will automatically return the money back to the investors.if the company fails to finish the funding round within the time frame stipulated. Solid Proof conducts audits of Orbeon Protocol (ORBN) smart contracts.
During the presale period, market experts expect that the value of Orbeon Protocol (ORBN) will reach $0.24. Orbeon Protocol (ORBN) is presently trading at $0.0921 in stage 11 of its presale, having already skyrocketed over 2200%, making Orbeon Protocol (ORBN) the hottest presale currently underway. Orbeon Protocol (ORBN) tokens give holders benefits like governance voting rights, staking, and VIP group access. ORBN is looking extremely promising as analysts predict a 6000% price surge in the next coming weeks..
Find Out More About The Orbeon Protocol Presale
Website: https://orbeonprotocol.com/
Presale: https://presale.orbeonprotocol.com/register
Disclaimer: This is a sponsored press release and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.
2 days ago • cryptodaily
Fluidity & Request Finance Offer Crypto Cashback For Payments
Source: Depositphotos
Crypto protocol Fluidity Money said today it’s partnering with the enterprise crypto payments app Request Finance to give its users a shot at landing some very significant rewards whenever they send a payment.
Fluidity Money bills itself as a “spend-to-earn” DeFi protocol that works very differently to the traditional crypto cashback schemes offered in the digital payments industry. Most cashback programs are offered in partnership with credit card providers and financed through high interchange fees that are passed onto consumers, as well as extortionate overdraft fees ranging from 15% to 27%.
Fluidity Money does things quite differently. It works by minting its own stablecoins, known as “Fluid Assets”, which are essentially wrapped versions of tokens like USDC and USDT. Users can mint new Fluid Assets within the Fluidity Webapp on a one-to-one basis (so they get 1 fUSDC for 1 USDC, for example) to generate potentially massive rewards each time they use those tokens to pay for something.
The way it works is very clever. The USDC or USDT that’s used to mint Fluid stablecoins is immediately deposited into a third-party DeFi protocol such as Compound, with 80% of the yield generated there being used to fund Fluidity’s cashback rewards. Those rewards are then paid out randomly, with each transaction standing a 40% to 70% chance of earning yield that could be significantly higher than the amount sent. Each transaction reward is split 80%-20% between the sender and the receiver.
By partnering with Request Finance, Fluidity is bringing its cashback rewards to hundreds of businesses and merchants that use the popular crypto payments app. Request Finance serves thousands of businesses with its invoice, payroll, expense and payment request features. Each time someone uses the app to send a payment using a Fluid stablecoin instead of a regular cryptocurrency, both them and their client stand a chance to earn a reward ranging from a few cents to possibly hundreds of dollars.
What’s more, Fluidity Money said it plans to expand its rewards offering to other loyalty programs and possibly enable users to earn non-fungible tokens (NFTs) as rewards, instead of crypto. Those NFTs could potentially represent anything from tickets to physical events, merchant credits like air miles, digital collectibles and more.
Fluidity Money Chief Executive Shahmeer Chaudhry said Request Finance has grown to become one of the most widely used crypto payment apps, helping thousands of enterprises and decentralized autonomous organizations use stablecoins more easily. “We wanted to work with them to introduce this cashback program as a fun way of rewarding people for using stablecoins for payments,” Chaudhry said.
Vijay Garg, founder of MapleBlock Capital, one of the chief backers of Fluidity Money, points out that cashback and loyalty reward programs have shown themselves to be hugely effective at driving adoption of digital payments in Web2. “Google Pay’s 2019 #StampwaliDiwali campaign in India, and the 2022 Huat Pals campaign in Singapore are great examples of this,” Garg said. “We believe that a similar strategy can help to drive the adoption of crypto payments.”
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
2 days ago • cryptodaily
Virtual Duo Babka and Nushi Honor Game Developers Worldwide at GDC
Los Angeles, United States, 22nd March, 2023, ChainwireGDC 2023 is finally in full swing, and a mysterious Oscars-style red carpet and stage are piquing the interest of global game developers. Thanks to a gamer grandma and her robotic feline buddy, this year, for the first time, game-makers of all sizes will have the chance to share the limelight and promote their games on stage, live stream, and on social media.Located in the prime location of the Moscone South lobby at GDC 2023, the stage is hosted by virtual influencer Babka. Her fellow time-traveling companion, Nushi, the cat, will also be in attendance and has taken the form of a robotic quadruped, crafted by esteemed Hollywood creature artist Salvatore Salamone, whose credits include The Dark Crystal: Age of Resistance and Avengers: Endgame. Babka and Nushi’s mission is to show the power of interactive technology and how games can transcend the screen, meeting thousands of game devs eager to get the word out about their newest game releases and upcoming projects. The duo will be at the show until Friday, March 24, 2023.Developers who walk the red carpet will get the chance to take a photo with Babka and Nushi, as well as conduct a video interview about their projects to be streamed on Twitch and promoted across various social media channels including Twitter, Instagram, and TikTok. Streams and footage will be shared under the hashtag #LivingLegends, encouraging influencers, gamers, and developers alike to give a shout-out to their favorite creators in a celebration of the global games industry’s creativity. Special giveaways are also up for grabs throughout the event.“Game developers are celebrities in the future, so much so that Nushi and I traveled back in time just to meet some of our favorites, which isn’t easy!” said time-traveling gamer grandma and virtual influencer Babka. “And when I say favorites, I mean everyone because we love all creators. GDC is not just a large get-together of the global games industry, it’s a celebration of it. So please drop by and tell the world about your amazing games, and also take a selfie with Nushi and me! Please. Seriously. We have traveled across the space-time continuum to meet you!”The event is open to GDC ticket holders and can be found at the Moscone Center in San Francisco in the Moscone South lobby. Starting Wednesday, March 22, Babka will be streaming on-site and online with Twitch influencers such as Esfand. Interviews, photos, and the #LivingLegends stories will be shared across social media. users can catch up with the latest events from the show floor by following Babka (@yo_babka) on Twitter and Instagram and Nushi the cat (@yo_nushi) on Twitter and Instagram accounts.About Babka and NushiBabka is a gamer, grandma, and virtual influencer who has traveled back to our present to meet her favorite game creators, #LivingLegends at #GDC23. Babka’s mission is to meet developers, promote their games, and help the entire industry find success. Babka was led to the present by Nushi, Babka’s dedicated scout, who took the form of a robotic cat and became the first animal consciousness to traverse time and the metaverse.ContactCEORana RahmanRaptor [email protected]
3 days ago • cryptodaily
Becoming Borderless Pioneers. Bware Labs Roadmap and Commitment to Web3 Builders
Bware Labs is a blockchain infrastructure provider that was founded in 2021 with the purpose of contributing to the rise of a truly decentralized Web3 ecosystem. The company was born out of a frustration with the current state of the market, which relies heavily on centralized platforms, which are controlled by a handful of centralized institutions, creating a single point of failure, thus compromising the security and privacy of users.
The founders of Bware Labs recognized that this was not the picture of Web3 that they had in mind, and decided to take action. They saw an opportunity to provide an alternative infrastructure that prioritizes decentralization, security, and accessibility and they set out to build a decentralized platform that could serve as a backbone for the next generation of dApps, without relying on a centralized authority.
This is how Blast came to life. Blast is a multichain, subscription-based, API platform which was built and launched in under a year, and since its release at the beginning of 2022 it has reached 4k weekly active users, 100+ enterprise customers, it supports over 40 networks and it has well surpassed 100 billion total API calls. By delivering a high-tech proprietary solution for proxying and routing user requests, Blast achieves best-in-industry response times and top-notch reliability. Knocking down milestone after milestone, Bware Labs expanded well over the API business, and is aiming to become a one-stop shop for all the tools the Web3 players need, servicing not only builders, but also enterprises, blockchains and App Chains.
As firm believers in the idea that decentralization implies cooperation, on the validator services side we kept on adding new projects in our portfolio, expanding the total of projects to more than 20 and reaching a TVL of more than $300 million.
Somebody stop us! But, there’s more. We now offer a full range of services for Avalanche Subnets and Polygon Supernets, custom indexing services on the Klaytn Network, snapshot services for Aptos, XPLA, Persistence, OKP4, Nolus and Uptick, and faucet services. Additionally, we are bridge operators for Avalanche, deBridge, Axelar, Connext, and Beamer, and last, but not least, our team grew bigger and stronger to reach over 40 talented individuals.
Bware Labs repositions itself to be a one-stop shop complete solution provider for boosting blockchain adoption.
Following the success in business development and product development, Bware Labs is changing its mission into becoming a vehicle for boosting blockchain adoption and supporting Web3 builders from development to production, release, and beyond.
We envision an environment where all Web3 developers have access to reliable decentralized infrastructure and highly performant blockchain development tools, therefore we are determined to create an all-encompassing ecosystem that will support Web3 builders throughout their entire blockchain journey. Bware Labs aims to play a decisive role in worldwide blockchain adoption and will thrive to become the one-stop shop that enables builders to explore the entire blockchain galaxy.
“We can say that Bware Labs is powering up Web3. Each dApp that one develops needs access to the blockchain, so our platform is like a base layer for each application. The company works at a fundamental level to help Web3 thrive. This is how we see ourselves in the Web3 ecosystem.” says Flavian Manea, Co-founder and CEO of Bware Labs.
If you believe in our cause too, then we invite you to join the Galactic Motorcycle Gang - our way of revving up the engines while BUIDLing and having fun.
The GM Gang is a collective of builders, traders, creators, investors, developers, prospects and anybody else who believes in the bright future of our industry. We have confidence that our gang will evolve into a powerful entity that demands recognition in the Web3 realm.
It has been a wild ride and we have just started in our mission of building an ecosystem that supports developers every step of the way. We are preparing more tools and services for Web3 builders and activities for Web3 enthusiasts, so make sure you keep up to date with our channels, support us and give us feedback constantly! Check out our refreshed website and follow our socials for more insights!
Disclaimer: This is a sponsored press release and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.
3 days ago • cryptodaily
PrimeXBT Copy Traders Make 4,000% ROI
Making money trading global markets isn’t easy. It takes skill, patience, strategy, experience, capital, and a little bit of luck. Proper risk management and emotional control can further improve the probability of success, but volatility can be unpredictable and too challenging for many new traders who ultimately give up.
At PrimeXBT, it is possible to get paid from other traders’ gains by copying and following top-ranked strategies listed in the copy trading leaderboards. Within the leaderboards, the highest ranked traders are making more than 4,000% ROI –– which means you can too. Find out how below and forget all the hard work that typically comes with trading and investing.
Why Most New Traders Give Up
When markets are near a peak, sentiment is filled with exuberance over recent profits, making it difficult to sense when the trend begins to reverse. Near market bottoms, prices are low, but investors and traders are often too fearful of trying to catch a falling knife. Human behavioral biases cause our minds –– and our guts –– to work against us.
Rarely is it possible to get it right all the time, which is why the best traders claim risk management is more important than winning. Others make a fortune from correctly timing the market and taking big bets against the crowd. Stacking up losses isn’t fun or sustainable, which is why many traders throw in the towel after only a short time trading.
Follow The Profits At PrimeXBT
With PrimeXBT copy trading, lack of skills or emotional control is never an issue because users simply click follow and automatically copy the trades of proven successful traders who have a high rank and ROI within the copy trading leaderboards. By following, capital can be invested into the strategy. A return on investment is generated with each successful trade the strategy manager makes.
Followers don’t have to do the heavy lifting or have all the stress that comes along with trading global markets and can still stay exposed to profits using a crypto-based account. Followers get stop loss and take profit tools and can follow many strategies at once to build a portfolio of traders, all working on your behalf.
All About Copy Trading
The experience revolves around a leaderboard system that displays a snapshot of the performance and rating of each strategy on the platform. Clicking on each individual strategy shows more granular performance metrics, which followers can use to pick which strategies to follow and which to unfollow.
At the top of the PrimeXBT copy trading leaderboard currently is a strategy manager with more than 4,000% profits, proving this type of incredible ROI is possible. Copy traders who followed this strategy have also earned as much as 4,000% ROI. The leaderboards are filled with skilled strategy managers and similarly impressive performance, and the rankings are constantly changing due to the constant competition in the community.
Stepping Up As A Strategy Manager
Strategy managers are incentivized to trade at their best to achieve a strong ROI and maintain a high rank in the leaderboards. Strategy managers earn a profit share of followers’ success fees, which are an added income stream for the most profitable traders. In addition, a higher rank means more exposure, allowing strategy managers to reap even more benefits from trading.
Experienced traders can enlist to become strategy managers for free but must make a minimum deposit to activate the account. Once activated, strategy managers will gain access to powerful PrimeXBT trading tools such as long and short positions on leverage, built-in charting software, and much more.
Summary
Using the same PrimeXBT account, copy traders can also access a full suite of margin trading tools, the PrimeXBT Trading Academy educational website, and weekly trading competitions at PrimeXBT Contests. Accounts are funded using BTC, ETH, USDT, or USDC as collateral. Funds can be deposited to a secure cryptocurrency account protected by bank-grade security and a cold storage solution for unrivaled safety.
The platform has never had a hack or scandal and was named the Most Trusted Crypto Asset Trading Platform by Crypto Expo Dubai. The reliable service is always on and available via the desktop or mobile browser or through the free PrimeXBT smartphone app for Android or iOS devices. To earn 4,000% ROI from copy trading or to access any of the amazing features above, immediately visit the PrimeXBT trading platform.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
4 days ago • cryptodaily
Camelot TVL Crosses $100M, Crypto Daily TV 21/3/2023 $GRAIL
In Todays Headline TV CryptoDaily News:
Decentralized exchange Camelot crosses $100M in TVL.
Camelot, an Arbitrum native decentralized exchange, has seen its total value locked rise by more than 50% over the past week, crossing $100 million past weekend. The surge comes as users are gearing up for Arbitrum’s token airdrop, which is set to happen on Thursday.
Bitcoin ATM maker shuts cloud service after user hot wallets compromised.
Bitcoin ATM manufacturer General Bytes has shuttered its cloud services after discovering a “security vulnerability” that allowed an attacker to access users' hot wallets and gain sensitive information, such as passwords and private keys.
U.S. Supreme Court to hear first crypto case.
The U.S. Supreme Court will hear arguments in its first-ever crypto-related case, when lawyers for San Francisco-based crypto exchange Coinbase will attempt to convince the nine Justices to pause a pair of class-action lawsuits against the crypto exchange.
BTC/USD traded sideways in the last session.
The Bitcoin-Dollar pair traded sideways in the last session. The ROC is giving a positive signal. Support is at 262101 and resistance at 291921.
The ROC is giving a positive signal.
ETH/USD dove 1.7% in the last session.
The Ethereum-Dollar pair fell 1.7% in the last session after gaining as much as 1.1% during the session. The CCI is giving a negative signal. Support is at 1712.3833 and resistance at 1872.7233.
The CCI is currently in the negative zone.
XRP/USD plummeted 2.5% in the last session.
The Ripple-Dollar pair fell 2.5% in the last session after gaining as much as 1.3% during the session. The Stochastic-RSI is giving a positive signal. Support is at 0.361 and resistance at 0.4129.
The Stochastic-RSI is currently in the positive zone.
LTC/USD dove 4.2% in the last session.
The Litecoin-Dollar pair dove 4.2% in the last session. The Ultimate Oscillator is giving a negative signal. Support is at 80.041 and resistance at 88.121.
The Ultimate Oscillator is currently in the negative zone.
Daily Economic Calendar:
US Redbook Index
The Johnson Redbook Index measures the year-over-year same-store sales growth from a sample of large general merchandise retailers. The US Redbook Index will be released at 12:55 GMT, the US Existing Home Sales at 14:00 GMT, and the Eurozone's ZEW Survey – Economic Sentiment at 10:00 GMT.
US Existing Home Sales
The Existing Home Sales provide an estimate of housing market conditions, which are indicative of the overall economy.
EMU ZEW Survey – Economic Sentiment
The ZEW Survey - Economic Sentiment measures institutional investor sentiment, reflecting the difference between the share of investors that are optimistic and are pessimistic.
DE ZEW Survey – Current Situation
The ZEW Survey - Current Situation measures the current institutional investor sentiment, reflecting the difference between the share of investors that are optimistic and are pessimistic. Germany's ZEW Survey – Current Situation will be released at 10:00 GMT, the UK's Public Sector Net Borrowing at 07:00 GMT, and Australia's RBA Meeting Minutes at 00:30 GMT.
UK Public Sector Net Borrowing
The Net Borrowing captures the amount of new debt held by the U.K. governments, i.e., the financial deficit in the UK national accounts.
AU RBA Meeting Minutes
The minutes of the Reserve Bank of Australia meetings give a full account of the policy discussion, including differences of view. They also record the votes of the individual members of the Committee.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
6 days ago • cryptodaily
Coinbase Plans To Set Up Crypto Trading Platform Outside The US
According to a Bloomberg report, Coinbase is exploring the option of setting up a crypto trading platform outside the United States of America as part of an aggressive expansion campaign.
As of now, there is no clarity on where the new entity will be based.
A New Crypto Trading Platform
According to the report, Coinbase has already discussed setting up a platform based outside the US, where it has its current headquarters, with some of its institutional clients, market makers, and investment firms. However, there is no clarity about the nature of Coinbase’s overseas operations or where it would be based. Coinbase, apart from its headquarters in the United States, has a strong presence in Spain, Italy, France, the United Kingdom, Ireland, Switzerland, and the Netherlands.
Along with the authorization to operate in the United States, Coinbase holds licenses to operate in Italy, Germany, Ireland, and the Netherlands, along with the UK Financial Conduct Authority. The exchange is also in the middle of procuring additional registrations and licenses in other major markets to comply with local regulations.
Move To Drive Growth?
There is considerable speculation about why Coinbase is looking to international markets. Some believe that the exchange is moving and expanding internationally to keep pace with its rivals, some of whom have gained considerable traction in international markets. Coinbase is currently the largest cryptocurrency exchange in the United States but is facing strong competition from the likes of Binance in the global markets.
Earlier this month, Coinbase announced that it had updated its retail platform in Singapore as a result of a strategic partnership with Standard Chartered bank. The partnership with the bank would allow Coinbase customers to move funds to and from their accounts via local banks. As a result of the partnership, Coinbase customers based in Singapore can cash in or cash out of their exchange accounts using local bank transfers for free, allowing customers to gain more control and flexibility over their assets. Before the partnership, Coinbase customers were forced to use debit or credit cards to transact with the exchange.
The CEO of Coinbase Singapore, and its regional director, Hassan Ahmed, stated,
“Southeast Asia is a crypto-forward region with a lot of demand for holding and using crypto in markets such as the Philippines and Indonesia, as well as a hotbed of innovation for trends like Web3 gaming such as Vietnam”.
Or Is Regulatory Scrutiny The Reason?
However, there is also speculation that the move was forced on Coinbase as regulatory authorities in the US looked to clamp down on the crypto firms for their perceived role in the ongoing banking crisis. Recently, three major banks in the United States, Silicon Valley Bank, Silvergate Bank, and Signature Bank, failed, leaving a huge impact on depositors.
In recent months, regulators, including the Securities and Exchange Commission (SEC), have come down hard on crypto firms for staking services offered in the US. Coinbase also faces banking troubles after it emerged that around $240 million in corporate cash balances are stuck with Signature Bank. Despite the clampdown, Coinbase, in a communication with users, stated that its staking program would continue.
Disclaimer: This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
11 days ago • nulltx
Top 3 Collectibles & NFTs Tokens Below $100K Market Cap To Watch In March 2023
Digital collectibles and NFTs are still in the top hot areas of the general cryptocurrency market while the market is managing a good recovery, here’s our top pick below $100k market capitalization to watch this month. Collectibles and NFT Tokens has a total market capitalization of $23,437,078,018 and a total trading volume of $4,903,711,963 in […]