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NYM(NYM)

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$0.235268
(0.77%)
0.00000845 BTC
Market Cap (Rank#271)
$92,545,514
3,322 BTC
Vol 24h
$769,323
27.6151 BTC
Circulating Supply
393,362,569.46
Max Supply
1,000,000,000
1 day ago cryptodaily
Binance Execs Accused of Concealing Exchange Ties to China
According to a report from the Financial Times (FT), Binance chief Changpeng "CZ" Zhao and other senior executives have been hiding the crypto exchange's connections to China for years, mired in a somewhat shady series of dealings with the country. Despite Binance's claims of leaving China following the 2017 ban on cryptocurrencies, the Financial Times alleges that the exchange maintained significant ties to the country, including an office which was allegedly used until late 2019 and a Chinese bank utilized for employee payments. This report lends a certain degree of credibility to the United States Commodity Futures Trading Commission's (CFTC) lawsuit filed against Binance on March 27, accusing the exchange of deliberately obscuring its executive offices' location and the entities operating the trading platform. In response, Binance insists that it "does not operate in China nor do we have any technology, including servers or data, based in China," and that the Chinese government has no access to Binance data except through lawful law enforcement requests. "It is unfortunate that anonymous sources are citing ancient history (in crypto terms) and dramatically mischaracterizing events. This is not an accurate picture of Binance’s operations," a spokesperson for the firm said. The unfolding Binance controversy highlights the tension between the tacitly utopian vision of cryptocurrencies as a decentralized alternative to traditional financial systems and the current reality of powerful exchanges allegedly operating outside of the law. These alleged links between Binance and the Chinese state further complicate the situation, revealing the intricate interplay between companies and authoritarian states, and the effect that these ties have in forming over a rapidly developing crypto landscape. The alleged concealment of Binance's ties to China can be seen as a reflection of the obfuscation and manipulation that is all too common among authoritarian entities, arguably contradicting the foundational principles of decentralization, autonomy, and freedom from coercive control that's key to the original vision of crypto. In this instance, it is crucial for those keen to crypto's vision to address the role of the Chinese state, known for its authoritarian approach, within this context. China's heavy-handed tactics in regulating cryptocurrencies and its broader history of censorship and suppression raise concerns about the potential impact of such governance on the development and adoption of decentralized technologies. Why would Binance involved itself with such an entity? Is it purely for the sake of profit? Was Binance threatened or coerced in any way by the Chinese state? These remain as key questions on the matter as more details unfold with continuing investigations.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
Hydra Ventures DAO Raises $10 Million To Reinvent Crypto Funding
Hydra Ventures DAO, a decentralized autonomous organization (DAO) backed by prominent investors like 1kx, ConsenSys, and Seed Club, is poised to disrupt the world of fund-of-funds investing with an innovative model tailored for the crypto industry.The brainchild of pseudonymous venture investor Pet3rpan, a partner at venture firm 1kx, Hydra Ventures has raised $10 million to create a DAO that will support other investment DAOs. "I think the cool thing about Hydra is that for the first time ever we have builders operating a fund of funds. Just ironic because most people who operate fund of funds come from an institutional capital background and I think this is the first science experiment where we see very active direct ecosystem participants operate fund of funds in a very crypto native way," Pet3rpan shares. DAOs are blockchain-based organizations without a central authority, employing blockchain technology for governance. According to data from DeepDAO, there are over 40 investment DAOs in existence. Pet3rpan was involved in the creation of one of the first investment DAOs, MetaCartel Ventures, which has 75 members and has invested over $13 million into more than 70 projects, including Gitcoin and Gnosis Safe. Pet3rpan initially considered the rapid deployment pace of investment DAOs as a drawback. However, he now sees it as an advantage, noting that "investment DAOs are really amazing vehicles for indexing exposure across a certain ecosystem or market focus." Hydra Ventures aims to invest in 30 to 40 DAOs, targeting up to 10% of the investment DAO itself. The core team of Hydra Ventures includes members from 1kx, MetaCartel Ventures, and Thing3. These members bring valuable experience in navigating the challenges of tax, accounting, and legal aspects of DAO operations. Hydra Ventures will integrate Thing3, an operations-focused service DAO, to address these issues. Stephen McKeon, managing partner at Collab+Currency, praised the Hydra Ventures DAO team, stating, "The venture DAO space is nascent and constantly evolving — so, to us, Hydra is well positioned to pioneer the DAO fund of funds model." Hydra Ventures is particularly interested in backing DAOs with a strong investment thesis. Pet3rpan believes that those who are passionate about a specific market domain or space have a considerable advantage in investing, deal flow, and due diligence. This conviction forms the core thesis for Hydra. Hydra Ventures started raising funds in June last year and closed the round in January. The funds will be stored in a diversified set of stablecoins, with plans to deploy the funds over three years instead of in perpetuity, like MetaCartel Ventures.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
Binance BUSD Suffers $500M Outflow, Crypto Daily TV 29/3/2023
In Todays Headline TV CryptoDaily News: EU Lawmakers vote in favor of payment limits on anonymous crypto wallets. Lawmakers on two key committees in the European Parliament have voted in favor of imposing limits on payments by unverified crypto users, as part of a large scale overhaul of money laundering laws. The plans, considered alongside measures to forbid businesses from accepting large cash payments and create a new European Union Anti-Money Laundering Agency. CFTC could force Binance to cease U.S. operations. The U.S. Commodity Futures Trading Commission could require Binance to cease operations in the U.S. as part of a potential settlement. The regulator sued the crypto exchange and its founder Changpeng Zhao for allowing U.S. citizens to trade derivatives and for willful evasion of the country’s laws. Binance's BUSD stablecoin suffers $500M outflow. Binance USD, a stablecoin pegged to the U.S. dollar, endured over $500 million in outflows in the roughly 24 hours since a U.S. lawsuit was filed against Binance and CEO Changpeng Zhao, data shows. BTC/USD gained 0.5% in the last session. The Bitcoin gained 0.5% against the Dollar in the last session. The Ultimate Oscillator is giving a positive signal. Support is at 25747.6667 and resistance at 28717.6667. The Ultimate Oscillator is currently in the positive zone. ETH/USD skyrocketed 3.4% in the last session. The Ethereum-Dollar pair skyrocketed 3.4% in the last session. The MACD is giving a negative signal, going against our overall technical analysis. Support is at 1640.0567 and resistance at 1817.3367. The MACD is currently in the negative zone. XRP/USD exploded 9.9% in the last session. The Ripple-Dollar pair rose 9.9% in the last session after gaining as much as 10.8% during the session. The MACD is giving a positive signal, which matches our overall technical analysis. Support is at 0.4237 and resistance at 0.5164. The MACD is currently in the positive zone. LTC dropped 0.8% against USD in the last session. The Litecoin fell 0.8% against the Dollar in the last trading session. The ROC is giving a negative signal. Support is at 84.3267 and resistance at 96.1667. The ROC is giving a negative signal. Daily Economic Calendar: US MBA Mortgage Applications The MBA Mortgage Applications released by the Mortgage Bankers Association presents various mortgage applications. It is considered as a leading indicator of the U.S Housing Market. The US MBA Mortgage Applications will be released at 11:00 GMT, the US EIA Crude Oil Stocks Change at 14:30 GMT, Germany's Gfk Consumer Confidence Survey at 06:00 GMT. US EIA Crude Oil Stocks Change The EIA Crude Oil stockpiles report is a weekly measure of the change in the number of barrels in stock of crude oil and its derivates, released by the Energy Information Administration. DE Gfk Consumer Confidence Survey The GfK Consumer Confidence is a leading index that measures the level of consumer confidence in economic activity, making it an indicator of consumer spending. FR Consumer Confidence The Consumer Confidence is a leading index that measures the level of consumer confidence in economic activity. The French Consumer Confidence will be released at 06:45 GMT, Japan's Foreign Bond Investment at 23:50 GMT, Japan's Foreign Investment in Japan Stocks at 23:50 GMT. JP Foreign Bond Investment The Foreign Bond Investment refers to bonds issued in a domestic market by a foreign entity in the domestic market’s currency. JP Foreign Investment in Japanese Stocks Securities investment referrers to bonds issued in a domestic market by a foreign entity in the domestic market’s currency. 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 cointelegraph
EU lawmakers push for stricter rules on anonymous crypto transfers
The legislation was one of several laws designed to combat money laundering and terrorist financing, receiving 99 votes in favor, eight votes against, and six abstentions.
2 days ago coindesk
EU Lawmakers Vote in Favor of Payment Limits on Anonymous Crypto Wallets
Crypto rules form part of a money-laundering overhaul supported by the European Parliament Committees
3 days ago cryptodaily
Chinese State-Owned Banks Become Crypto-Friendly in Hong Kong
Reports indicate several Chinese state-owned banks with branches in Hong Kong have turned crypto-friendly as they offer their services to local crypto companies. Bloomberg reports numerous Chinese state-owned banks with branches in Hong Kong have started offering their services to local crypto companies as Hong Kong attracts a growing list of firms looking to establish roots in the city. The city announced in October that it wants to become the next global crypto hub and has started enacting legislation to do so. Christian Hui, the Secretary for Financial Services and the Treasury, recently revealed that more than 80 foreign and Mainland China crypto firms had expressed interest in establishing offices in Hong Kong and obtaining local licenses. He said: As of end-February 2023, Invest Hong Kong has received expressions of interest from over 80 virtual asset-related Mainland and foreign companies in establishing their presence in Hong Kong. These companies included VA exchanges, blockchain infrastructure companies, blockchain network security companies, virtual currency wallets and payment companies, as well as other projects on building the Web3 ecosystem. Chinese Banks Court Firms in Hong Kong The Strait Times reports that the Hong Kong branches of the Bank of Communications, Bank of China and Shanghai Pudong Development Banks have begun offering banking services to local crypto firms or have made inquiries into doing so. Banks from Mainland China have recently been reaching out to crypto-related firms, adding to the rumour that Hong Kong’s goal of becoming a central digital asset hub has Beijing’s support, even though crypto trading has been banned in China since September 2021. The outreach is notable, given the difficulties experienced by crypto firms to secure normal banking services. The move is especially significant after the failures of U.S. tech banks SVB, Silvergate Bank and Signature Bank. Securing banking services for crypto firms has never been an easy feat. Banks often shy away from crypto firms due to their anonymous nature. Anonymity has been a red flag for traditional banks where KYC procedures are required for compliance. Hong Kong-based crypto firms who have agreed to speak on the condition of anonymity say the difficulty in obtaining banking services has forced many digital asset firms to find workarounds to meet their banking needs. Firms say it often takes up to three months to secure corporate bank accounts, compared to one month for non-crypto firms. The significant delays mean they often contact more than a dozen lenders. Concerns, however, remain as even with a bank account, banks often flag transactions related to crypto firms and can suspend accounts after an initial warning. The realities for those who deal in crypto are even more challenging, considering almost no traditional banks offer to help transfer tokens to fiat as a regular service. The alternative is to turn to crypto-friendly banks overseas. The future for digital asset firms certainly looks much better if more traditional banks back the sector. With support from the banking sector and the Hong Kong government’s continued investment in developing its regulatory framework, the city is primed to become the world’s leading crypto hub. 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.

About NYM?

The live price of NYM (NYM) today is 0.235268 USD, and with the current circulating supply of NYM at 393,362,569.46 NYM, its market capitalization stands at 92,545,514 USD. In the last 24 hours NYM price has moved -0.000778 USD or -0.00% while 533,525 USD worth of NYM has been traded on various exchanges. The current valuation of NYM puts it at #271 in cryptocurrency rankings based on market capitalization.

Learn more about the NYM blockchain network and how it works or follow the price of its native cryptocurrency NYM and the broader market with our unique COIN360 cryptocurrency heatmap.

NYM Price0.235268 USD
Market Rank#271
Market Cap92,545,514 USD
24h Volume769,323 USD
Circulating Supply393,362,569.46 NYM
Max Supply1,000,000,000 NYM
Yesterday's Market Cap92,756,747.69 USD
Yesterday's Open / Close0.236583 USD / 0.235805 USD
Yesterday's High / Low0.236706 USD / 0.231947 USD
Yesterday's Change
0.00% ( 0.000778 USD )
Yesterday's Volume533,525.11 USD
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