9h ago • cryptodaily
Ledger Raises $100M At $1.4B Valuation
Crypto hardware company Ledger has secured €100 million ($109 million) funding in its latest funding round at the $1.4 billion valuation for the company.
Successful Closure Of Series C Extension
Hardware wallet manufacturer Ledger has conducted late-stage funding in its Series C round to raise over $100 million. The company had maintained its $1.4 billion valuation from its last funding round in June 2021, when it raised around $380 million. According to reports, the company will conduct two more rounds in 2023.
On March 30th, the team announced the successful closure of its Series C extension fundraising, which will be used to optimize and expand its wallet production.
The team tweeted,
“Ledger is proud to announce our Series C extension fundraising round. We continue our mission of bringing ease-of-use and uncompromised security to your digital value.”
Some of the leading institutional investors contributing to this funding are Morgan Creek, Cité Gestion SPV, Digital Finance Group, VaynerFund, True Global Ventures, and 10T.
Ledger Thriving Amidst Market Troubles
The company is behind the uber-popular hardware wallets like the Nano S and Nano X. Despite regulatory concerns plaguing the industry, the company’s continued success indicates that digital security is still a profitable niche in the market. The crypto-security firm had previously launched the Ledger Stax hardware wallet in the middle of the FTX controversy with much success. Today, Ledger hardware wallets protect 20% of all the cryptocurrency in the world.
New Generation Of Hardware
In an accompanying blog post published by the company, CEO and Chairman Pascal Gauthier wrote about Ledger’s plan forward.
“Within the next five to ten years, my conviction is that the rise of the Internet of Value will reshape how billions of people own and manage their assets, redefining how we interact with the Internet, the role of intermediaries, the global economy, and every industry.”
He talks about introducing a new generation of hardware that would encompass even smartphones and laptops. Gauthier indicated that the company would be using the funds from the latest round to enhance the Ledger software experience. He plans to integrate more cryptocurrencies, blockchains, services, and features into Ledger Live.
CEO’s Plans For Ledger Enterprise
Gauthier also addresses the business side of affairs. The company’s B2B division, Ledger Enterprise, will be working on empowering more corporations to use the proper governance and security frameworks in their digital initiatives.
He writes,
“As the Internet of Value gradually goes mainstream, our Ledger devices will allow you to manage an ever-expanding range of tokenized assets, including your value, identity, data, stocks, and much more, enabling you to connect with complete ownership.”
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.
15h ago • cryptodaily
USDC Outflows Exceed $10B, Crypto Daily TV 31/3/2023
In Todays Headline TV CryptoDaily News:
Visa and Fold expand partnership to new regions.
Bitcoin rewards app Fold and Visa have expanded their ongoing partnership. The U.S. payments giant will now serve as the exclusive network partner for Fold's prepaid debit and credit products in North America, Europe and Latin America.
USDC outflows surpass $10 billion since March 10th.
Crypto investors are fleeing Circle’s USDC stablecoin, with many of them switching to Tether, which has reached a 22-month high in market share. USDC token net outflows have surpassed $10 billion since March 10, when regulators shuttered key reserve banking partner Silicon Valley Bank.
Bitcoin spikes above $29K.
Bitcoin set new nine-month highs as traders continued to stay cautious. Prices spiked to above $29000.
BTC/USD dropped 0.7% in the last session.
The last session saw the Bitcoin drop 0.7% against the Dollar. The Williams indicator is giving a negative signal. Support is at 26688.6667 and resistance at 29472.6667.
The Williams indicator is currently in the negative zone.
ETH/USD remained largely unchanged in the last session.
The Ethereum-Dollar pair traded sideways in the last session. The MACD is giving a negative signal. Support is at 1744.7967 and resistance at 1849.1967.
The MACD is currently in the negative zone.
XRP/USD dove 1.3% in the last session.
The Ripple-Dollar pair dove 1.3% in the last session. According to the RSI, we are in an overbought market. Support is at 0.4785 and resistance at 0.6147.
The RSI points to an overbought market.
LTC/USD plummeted 2.2% in the last session.
The Litecoin-Dollar pair dove 2.2% in the last session. The MACD is giving a positive signal. Support is at 87.1067 and resistance at 95.0467.
The MACD is currently in the positive zone.
Daily Economic Calendar:
US Personal Spending
The Personal Spending measures purchases of goods and services by households and by nonprofit institutions that serve households from the private sector. The US Personal Spending will be released at 12:30 GMT, Germany's Unemployment Change at 07:55 GMT, the UK's Current Account at 06:00 GMT.
DE Unemployment Change
The Unemployment Change is a measure of the absolute change in the number of unemployed people using seasonally adjusted data. A rise in this indicator has negative implications for consumer spending.
UK Current Account
The Current Account measures net flow of current transactions, including goods, services and interest payments into and out of the local economy.
UK 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 UK's Gross Domestic Product will be released at 06:00 GMT, the US Personal Income at 12:30 GMT, Japan's Annualized Housing Starts at 05:00 GMT.
US Personal Income
The Personal Income measures the total income received by individuals, from all sources including wages and salaries, interest, dividends, rent, workers' compensation, proprietors' earnings, and transfer payments.
JP Annualized Housing Starts
The Annualized Housing Starts captures how many new single-family homes or buildings were constructed on an annualized basis. It is a key indicator of the housing market.
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.
16h ago • cryptodaily
“His Excellency” No More: Justin Sun Loses Diplomatic Status $TRO
The founder of the Tron blockchain, Justin Sun, is no longer a diplomat for Grenada. Grenada had recalled all diplomats following the June 2022 election in which the part that granted the title was removed from power.
No Longer A Diplomat For Grenada
According to reports coming from the Grenada Broadcasting Network, Sun’s removal as a diplomat came after the New National Party, which was the part that gave Sun the status, lost the election to the National Democratic Congress. The report stated that all ambassadors assigned by the previous government were recalled during the early months of the new administration. The report from the Grenada Broadcasting Network comes after weeks of intense speculation in the press and social media about Sun losing his credentials. However, Sun has not yet publicly addressed the speculation.
Sun Carries On
Justin Sun was appointed as the ambassador to the World Trade Organization by the government of Grenada in 2021. Since being appointed, Sun has gone out of his way to flout his credentials, styling himself as “His Excellency” on his social media accounts and during media interviews. Sun had been tweeting from his diplomatic Twitter account (@HEjustinsun) as recently as October. He has, so far, given no indication of losing his diplomatic status and still maintains the H.E. on his personal Twitter account.
With Sun’s appointment as Grenada’s ambassador to the WTO, the government of Grenada stated that it expected him to help promote trade, development opportunities, and investment in the country. He was also tasked with supporting the development of infrastructure, human resources, and information and communication technology for the country and conduct himself in a way that enhances Grenada’s image. Neither Sun nor the government of Grenada have commented on the matter so far.
SEC Charges Sun
Soon after losing his diplomatic status, the Tron founder found himself in the crosshairs of the Securities and Exchange Commission (SEC). The SEC charged Sun with fraud and also accused eight celebrities, including rapper Soulja Boy and actress Lindsay Lohan, of illegally promoting his crypto assets. Sun, along with his companies, the BitTorrent Foundation, Tron Foundation, and Rainberry, were accused of scheming to distribute billions of Tronix (TRX) and BitTorrent (BTT) tokens and artificially inflate their trading volume since 2017. In a statement, the SEC Chair, Gary Gensler stated,
“As alleged in the complaint, Sun and others used an age-old playbook to mislead and harm investors by first offering securities without complying with registration and disclosure requirements and then manipulating the market for those very securities. At the same time, Sun paid celebrities with millions of social media followers to tout the unregistered offerings, while specifically directing that they not disclose their compensation. This is the very conduct that the federal securities laws were designed to protect against regardless of the labels Sun and others used.”
The Securities and Exchange Commission stated that some of those accused with Sun have agreed to pay a total of $400,000 in disgorgement, interest, and penalties to settle charges leveled against them.
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
Collateral Network (COLT) is a new player in the blockchain-based investments space, and it's already generating a buzz among Bitcoin (BTC) and Ethereum (ETH) holders.
Collateral Network (COLT) is a new player in the blockchain-based investments space, and it's already generating a buzz among Bitcoin (BTC) and Ethereum (ETH) holders. In the presale phase, Collateral Network (COLT) is offering a unique investment opportunity that promises to deliver significant returns. Let's learn more!
>>BUY COLT TOKENS NOW>BUY COLT TOKENS NOW>BUY COLT TOKENS NOW<<
Ethereum (ETH)
In the world of blockchain-based investments, Ethereum (ETH) is one of the most popular tokens after Bitcoin (BTC). Many investors are drawn to Ethereum (ETH)'s potential as a platform for DeFi applications, with current projects in the space aiming to facilitate trustless borrowing and lending on Ethereum (ETH).
Ethereum (ETH) has been successful in this regard, with world-renowned institutions like Ubisoft, ING, and IBM all relying on Ethereum (ETH) for their operations. Today, Ethereum (ETH) has a market cap of over $200 billion, making it the world's second-largest cryptocurrency by market value.
But with such a large market cap, just how high can Ethereum (ETH)'s price go? It is unlikely that Ethereum (ETH) will see another 1000% gain — something that Collateral Network (COLT) should have no problem achieving as more investors use the platform.
Find out more about the Collateral Network presale here:
Website: https://www.collateralnetwork.io/
Presale: https://app.collateralnetwork.io/register
Telegram: https://t.me/collateralnwk
Twitter: https://twitter.com/Collateralnwk
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.
1 day ago • cryptodaily
Klaytn's Pursuit of the Mass Adoption Trifecta: Why Sustainability, Verifiability, and Collectiveness Matter
As blockchain technology continues to amass hype and interest, several problems still hinder the growth of this new innovation.
According to a 2022 CoinGecko publication, over 40% of (3,322 out of the 8,000) cryptocurrencies listed in 2021 are dead. Most blockchain-based projects struggle to create and maintain a transparent token supply/demand structure. And coupled with the cost of maintenance and increasing energy consumption levels, these projects have found environmental and physical sustainability to be almost impossible.
Another problem of mass adoption is trust. The recent FTX debacle and preceding events, the Axie Infinity failure, and the Terra/LUNA crash have dispelled trust in blockchain, a system purported to be secure and transparent.
While several “community-powered” projects have launched, a few live up to the claim. The current DAO and governance approach incorporated by most projects means wealthier users can buy more tokens to change voting outcomes, eliminating the concept of decentralization.
These problems are at the forefront of blockchain mass adoption, making it difficult to achieve. Klaytn, an open-source public blockchain for builders, workers, and players in the metaverse, has identified the ultimate trifecta for global blockchain adoption and is working to achieve it with sustainability, verifiability, and collectiveness.
Klaytn Foundation’s Vision for Mass Adoption
As part of its long-term vision to drive global adoption, Klaytn introduces a thoroughly crafted 2023 vision map for achieving the mass adoption trifecta.
Sustainability
The two profound components of a project’s sustainability are—a smart tokenomicsstructure capable of creating inherent value for the ecosystem and a well-grounded tech layer capable of supporting such an ecosystem. In line with these components, Klaytn integrates specific goals.
Klaytn’s sound tokenomics and deflationary token model aspirations are stand-out features of this project. For sustainability, this public blockchain platform will continue to reschedule token releases to maintain relevance and initiate realistic targets for the right amount of tokens needed to make $KLAY a genuinely deflationary asset. It will also support activities that will guarantee mid-to-long-term token demand and supply.
Taking into account the cost of running a blockchain-based ecosystem, Klaytnproposes an efficient specification for computer instances and data storage. This singular action will help the team manage nodes dexterously while reducing costs in the long run. Additionally, Klaytn will introduce new concepts such as permissionless network configurations, ecosystem treasury optimization, and token circulation monitoring that will effectively oversee the supply of new tokens based on specific criteria gathered from incumbent market conditions.
Klaytn will also be on the lookout for infrastructures and services where ownership of $KLAY will guarantee holders access to these features, increasing the utility and transactional value of the token. Through exchange listings and on-chain service offerings, Klaytn hopes to attract more users.
To increase the long-term sustainability of $KLAY, Klaytn will regularly burn a percentage of tokens—over 75 million $KLAY has been burned to date, and more are expected in the coming months. The Klaytn team looks to initially burn 5.28 billion (approximately 48% of the current total $KLAY supply) tokens as it seeks to keep $KLAY inherently valuable.
Verifiability
Trustlessness has proven to be a huge sticking point in the blockchain space. Ensuring verifiability in all situations is essential for improving the transparency of all components related to the operation of a blockchain network.
In the spirit of promoting transparency and inclusivity in its governance processes, Klaytn intends to conduct frequent evaluations of community sentiment and develop a robust structure to facilitate efficient decision-making. KIP-81 will be integrated into Klaytn's mainnet, enabling users to conveniently view voting agendas, and monitor voting statuses and results live via the Klaytn Square governance portal. The Klaytn team also looks to open up access to its Governance Council, creating a process for teams interested in becoming GC members to apply directly.
Collectiveness
A robust ecosystem of developers and users is essential to the success of any blockchain network. This community serves as the backbone of the technology, providing the support, innovation, and governance necessary to drive adoption and ensure the security and integrity of the network. Besides enabling seamless onboarding of developers, Klaytn is integrating new measures to encourage active participation and community involvement.
With the aim of providing a hassle-free development environment, Klaytn is set to unveil a suite of ecosystem service tools, including a trustless bridge, developer SDKs that seamlessly integrate with multiple services, and a metaverse package.
As a public blockchain for all, Klaytn promises to be a community-powered project where users and developers are essential members. With that vision in mind, Klaytnwill hold regular developer meet-ups to provide direct communication and feedback channels with the Klaytn core development team. As it seeks to build on the spirit of collectivism, Klaytn also looks to establish “Proof of Hodl” communication touchpoints on its governance portal Klaytn Square, providing participants who contribute directly to the Klaytn ecosystem with opportunities to participate in governance and more.
Through its meticulously-crafted vision map, Klaytn aims to achieve the trifecta of mass adoption —sustainability, verifiability, and collectiveness—taking a giant step towards driving global adoption and rekindling users’ trust in blockchain projects.
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
Up and Coming Crypto Exchanges You Need to Know About in 2023
It is no secret that exchanges have continued to play a vital role in the growth of the burgeoning cryptocurrency ecosystem, providing enthusiasts with a platform for trading digital assets seamlessly. They serve as intermediaries connecting buyers and sellers, enabling them to exchange cryptocurrencies for other digital assets or fiat currencies.
One of the main benefits of traditional crypto exchanges is their simplicity and user-friendly interfaces. These platforms typically offer a more straightforward and convenient experience compared to decentralized alternatives, making it easier for beginners to enter the world of cryptocurrencies.
Moreover, they offer a high level of liquidity, something that is essential for efficient trading, as it allows users to quickly buy or sell assets without causing significant price fluctuations.
Lastly, traditional crypto exchanges often offer higher customer support and security. Since these platforms are managed by a central authority, they can invest in dedicated customer service teams that assist users with any issues or questions they may encounter.
In this article, we will list out some of the best up-and-coming cryptocurrency exchanges. So without any further ado, let’s jump straight into the heart of the matter.
Public
One of the fastest growing, most trustworthy $0 commission platforms in the market today, Public offers a comprehensive investment platform that empowers individuals to diversify their portfolios via a range of assets, including stocks, ETFs, treasuries, cryptocurrencies, artwork, and collectibles. On a technical note, the platform offers tailored company metrics, up-to-the-minute market analyses, live shows on market trends, and much more.
Public is a fully regulated broker-dealer but provides protection of up to $500,000 for any securities contained in its users' accounts. Additionally, the platform implements bank-grade security measures such as AES 128-bit encryption, TLS for secure data transmission, and default two-factor authentication (for an additional layer of protection).
Since its inception in 2019, Public has attracted over $300 million in investments. The platform's esteemed investors include Accel, Tiger Global, Sean 'Diddy' Combs, Will Smith (Dreamers VC), Maria Sharapova, Tony Hawk, The Chainsmokers' Mantis VC, and Shari Redstone's Advancit Capital.
MaskEX
One of the fastest-growing exchanges in the market today, MaskEX is a trading platform that focuses on delivering a secure and user-friendly trading experience. Featuring an intuitive interface, it caters to both novice and experienced traders, offering a wide range of cryptocurrencies for portfolio diversification.
Moreover, it comes with advanced trading tools, including real-time charting features, various order types, and in-depth market data, enabling users to make informed decisions and execute their strategies effectively. Security is a top priority for MaskEX, as evidenced by the fact that the platform features multi-tiered security protocols to protect users' assets and personal information. These measures include utilizing cold storage for a majority of its funds, distributed storage systems, multi-signature technology, two-factor authentication (2FA), and encrypted SSL connections.
Recently, MaskEX launched several promotional campaigns aimed at enhancing its clients' profit potential. One such initiative is the "Purchase and Earn" campaign for P2P traders, where users who purchase USDT on MaskEX P2P with supported fiat currencies during the campaign period can participate in a $500 prize pool. Another campaign revolves around the MaskEX Virtual Card, where users who make purchases using the card during the promotional period stand a chance to share in a $1,000 prize pool. Both campaigns will run from April 1st to April 30th.
Pionex
Pionex.US stands out as the top choice for automated trading in the cryptocurrency sphere due to its integrated auto-trading bots, competitive fee structure, and user-friendly interface. Launched in 2019, the Singapore-based Pionex has gained significant traction online by offering an affordable fee schedule along with a suite of 16 built-in trading bots. The US counterpart, Pionex.US, provides spot trading and features 11 available bots, making it the most comprehensive automated solution for cryptocurrency trading.
The platform boasts a range of bots with diverse functionalities, such as purchasing at a dollar-cost average for a single sell-off, automatically creating and rebalancing an index, and implementing various strategies for buying low and selling high. Furthermore, Pionex.US maintains an attractive maker/taker fee structure for spot trades, similar to its global counterpart. Depending on the crypto pairing, fees range from 0.05% to 0% and apply to both manual and bot-assisted trades.
While the platform excels in offering manual and automated trading options, tutorial resources, and customer support, it does have some limitations. For example, it is unavailable in certain states across the US, lacks some key fiat withdrawal options, and has insufficient bot tutorials/explanations on the company website.
PrimeXBT
PrimeXBT is another promising cryptocurrency trading platform that offers a wide array of financial instruments and advanced trading tools to traders from over 150 countries. One of its standout features is its extensive product offering, which enables users to trade cryptocurrencies, forex, commodities, and stock indices, all from a single account.
Additionally, PrimeXBT offers a highly competitive fee structure and employs advanced trading technology to ensure a seamless experience for its clients. The platform supports leveraged trading, offering up to 100x leverage for cryptocurrencies and even higher leverage for other asset classes, enabling traders to capitalize on market opportunities with minimal initial capital. Additionally, the platform delivers an ultra-fast order execution rate (< 7.12 ms on average) and an industry-leading trade engine with real-time risk management. Lastly, all transactions taking place within the PrimeXBT ecosystem are secured using the Amazon AWS framework.
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
Buy Bitcoin before it becomes too expensive says Robert Kiyosaki
Rich Dad Poor Dad author and billionaire entrepreneur Robert Kiyosaki has urged Twitter followers to buy Bitcoin, gold, silver, and top brands before they become too expensive.
In one of his latest Twitter posts, Robert Kiyosaki tweeted “Rising interest rates killing capitalism” and “Buy before systemic inflation is in control”. His recommendations of what to buy include bitcoin, gold, silver, and the rich brands.
SHOP til YOU DROP. Retail prices dropping. Rising interest rates killing capitalism. Rich brands on sale. Buy before systemic inflation is in control. Inflation is systemic not transitory. Buy Prada, Panerai, Polo, gold, silver, BC before brands become expensive. F’ poverty.
— Robert Kiyosaki (@theRealKiyosaki) March 29, 2023
Kiyosaki has never minced his words when referring to the monetary system and what he perceives as the rapidly falling value of the dollar and all other fiat currencies.
He has been scathing of the Federal Reserve, and other central banks, and has recommended that investors pull their cash out of the banking system and put it into “real money” such as gold, silver, and bitcoin.
Kiyosaki is aware that his tweets and podcasts often attract a lot of detractors, but says “even if you choke on my two emergency podcasts, please listen, then decide what you want to do.” He adds:
“If you trust our government, banks & Wall Street PLEASE STOP FOLLOWING ME.”
Quite possibly, besides the recent podcasts, featuring Andy Schectman, many of the haters are upset with Kiyosaki’s oft-used phrase of DCB - Deception, Betrayal, and Collusion, which he accuses banks, Wall Street, and government of.
With recent bank failures, and the actions of the Federal Reserve and other central banks, in promising potentially trillions of dollars in value with which to prop up any other of the large to medium sized banks in difficulties, it’s not difficult to imagine that Kiyosaki’s voice will sit well with investors and depositors who have much to gain or lose.
Kiyosaki has made himself a fortune by investing in real-estate and has protected himself by buying all the assets, such as bitcoin, gold, and silver, which he is recommending to his followers.
The same banks and financial organisations that Kiyosaki is deriding, will no doubt be concerned that such a well-respected financial guru is taking them to task. However, more important is that this man’s practical, albeit unpalatable views, are seen and heard by the common investor.
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
BitKeep Wallet Rebrands as Bitget Wallet, Releases Updated Roadmap for 2023
BitKeep – the largest non-custodial cryptocurrency wallet with over 8 million users, has released the details of its updated roadmap for 2023, which foresees its rebranding into Bitget Wallet. The new document was released shortly after BitKeep received a $30 million investment from the Bitget crypto derivatives platform and joined its growing ecosystem of financial and Web3 products.
The roadmap includes a concise outline for a complete rebranding of the service including the logo and style, with reshuffling of the management team and general improvements to infrastructure security, leveraging solutions from Bitget. Among the main points outlined in the document are alignment with Bitget’s overall visual appearance, as well as technical updates that will allow the service to function as part of the broader Bitget ecosystem. Most importantly, the 8 million users of BitKeep will be able to rely on the $300 million Bitget User Protection Fund in case of any potential threats, as the one encountered in December of 2022.
Bitget received a controlling stake in the BitKeep wallet for a $30 million injection during the latest funding round. The incorporation of BitKeep into the Bitget ecosystem will have a positive impact on user protection and overall system security. BitKeep will also receive quick access to cybersecurity experience as that provided by firms like Certik and new verification support features through MD5, as well as support for hardware wallets providers like KeyStone.
Bitget has been on the track of incorporating its services into Web3 space with greater resolve and speed, as outlined in its new ‘Go Beyond Derivative Strategy’. The acquisition of BitKeep is an important step in the exchange’s desire to expand its ecosystem of products and services to turn it into a holistic bridge between the worlds of DeFi and CeFi with quick access to Web3.
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
BTC Has Strongest Quarter In 2 Years, Crypto Daily TV 30/3/2023
In Todays Headline TV CryptoDaily News:
XRP surges.
XRP, the cryptocurrency issued by Ripple, is surging on rumors surrounding outcome of its long-running legal fight with the SEC. The crypto was up as much as 10%.
Crypto Exchange Kraken and Formula One’s Williams racing team up.
Crypto exchange Kraken signed a multi-year global pact with Formula One team Williams Racing, marking the trading platform’s first major sponsorship deal even as sports tie-ups with digital-asset firms become increasingly unpopular.
Bitcoin storms toward its strongest quarter in 2 years.
Bitcoin has stormed to a 72% gain over the last three months and is on track for its strongest quarter in two years. The token has outperformed both the Nasdaq 100 and gold, which are up 15% and 9%, respectively, in the same stretch.
BTC/USD skyrocketed 4.0% in the last session.
The Bitcoin-Dollar pair exploded 4.0% in the last session. The Ultimate Oscillator is giving a positive signal, which matches our overall technical analysis. Support is at 262631 and resistance at 280131.
The Ultimate Oscillator is currently in positive territory.
ETH/USD skyrocketed 1.5% in the last session.
The Ethereum-Dollar pair skyrocketed 1.5% in the last session. The Stochastic-RSI is giving a positive signal, which matches our overall technical analysis. Support is at 1666.6333 and resistance at 1845.2733.
The Stochastic-RSI is currently in positive territory.
XRP/USD skyrocketed 6.3% in the last session.
The Ripple-Dollar pair gained 6.3% in the last session after rising as much as 13.2% during the session. The Stochastic indicator's positive signal is in line with the overall technical analysis. Support is at 0.4388 and resistance at 0.571.
The Stochastic indicator is currently in the positive zone.
LTC/USD exploded 3.1% in the last session.
The Litecoin-Dollar pair skyrocketed 3.1% in the last session. The RSI is giving a positive signal. Support is at 84.2067 and resistance at 91.9867.
The RSI is currently in positive territory.
Daily Economic Calendar:
US Gross Domestic Product Annualized
The Gross Domestic Product Annualized shows the annualized monetary value of all the goods, services and structures produced within a country. The US Gross Domestic Product Annualized will be released at 12:30 GMT, the US Gross Domestic Product Price Index at 12:30 GMT, the Eurozone's Business Climate at 09:00 GMT.
US Gross Domestic Product Price Index
The GDP Price Index gauges the change in the prices of goods and services. Changes in the GDP price index are followed as an indicator of inflationary pressure.
EMU Business Climate
The Business Climate indicator is based on monthly surveys and is designed to deliver a clear and timely assessment of the cyclical situation within the local economy.
ES Consumer Price Index
The Consumer Price Index is a measure of price movements made by comparing the retail prices of a representative shopping basket of goods and services. Spain's Consumer Price Index will be released at 07:00 GMT, Japan's Unemployment Rate at 23:30 GMT, Japan's Jobs / Applicants Ratio at 23:30 GMT.
JP Unemployment Rate
The Unemployment Rate measures the percentage of unemployed people in the country. A high percentage indicates weakness in the labor market.
JP Jobs / Applicants Ratio
The Jobs to Applicants Ratio released by the Japan Institute of Labour is obtained by dividing monthly active job openings by monthly active applications.
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
Paxful To Refund Earn Program Users Following Celsius Collapse
With users waiting with bated breath for the bankruptcy proceedings of crypto lender Celsius to play out, Paxful has vowed to refund all impacted users of the Paxful Earn product.
Relief For Users
Ray Youssef, the CEO of peer-to-peer Bitcoin Marketplace Paxful, has stated that the firm will be refunding all impacted users of its Paxful Earn program. In partnership with bankrupt crypto lender Celsius, the Earn program allowed users to earn a yield on their Bitcoin. However, users were left in limbo, as Celsius’s bankruptcy meant they could not access their funds, as the lender froze withdrawals. However, the announcement by Paxful has given them hope. In a public statement, Youssef noted,
“Paxful, like many others, were paralyzed to act as we could not retrieve funds held by Celsius. Another hit came when the courts ruled that Celsius Earn Accounts belonged to Celsius’ bankruptcy estate, not to its users.”
While announcing the news, the Paxful CEO stated that he was personally taking action and would ensure that all impacted users would be refunded. He added on Twitter,
“We have done the right thing and refunded @paxful users who lost funds with Celsius Earn. I could not stand by and watch them suffer, so we’ve made them whole. Our users always come first to me. This is the way!”
As of now, it is still being determined how much Paxful will be returning to its users. Celsius had paused all withdrawals in June when the Bitcoin price slumped below $20,000. This brought the firm’s DeFi loans dangerously close to being liquidated. The firm filed for bankruptcy soon after and has managed to pay off only a small segment of creditors involved in its program.
Decision Did Not Sit Right
The Paxful CEO, commenting on the judge’s decision that Celsius was the owner of the funds in its interest-bearing Earn Program and not the users, stated that the decision did not sit right with him.
“The collapse [of Celsius] hurt countless users and damaged trust in our industry. Paxful, like many others, were paralyzed to act as we could not retrieve funds held by Celsius. Another hit came when the courts ruled that Celsius Earn Account belonged to Celsius’ bankruptcy estate, not to its users. This didn’t sit right with me then, and it still doesn’t sit right with me today.”
Not The First Appeal On Behalf Of Users
The CEO stated that everyone needed to hold themselves to a higher standard, ensure transparency, and put themselves above profit. However, this was not the first time he had made such a statement. In December, he had made a similar appeal while announcing that his marketplace would no longer support Ethereum trading. He had, at the time, put complete faith in Bitcoin, calling it the only workable tool for freeing billions of people from Economic Apartheid.
Paxful is extremely prominent in the Global South, generating anywhere between $30 million to $40 million in weekly volume, a majority of which comes from Argentina.
Celsius’s Ongoing Bankruptcy Proceedings
Meanwhile, Celsius’s bankruptcy proceedings continue to roll on. Recently, the committee of unsecured creditors and a group of account holders reached a settlement that was approved. This settlement allowed account holders to recover just over 72% of their crypto holdings. Celsius had also announced that NovaWulf Digital Management would be sponsoring its restructuring plan and claimed that nearly 85% of its customers would be able to recover around 70% of their crypto assets.
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.