Kategorie: Allgemein

• Fluidity Money has announced a cashback program that will reward customers when they use crypto for payments.
• Cashback payouts are currently in stablecoins like USDT and USDC.
• The program is a collaboration with enterprise crypto payments app Request Finance.

Fluidity Money Launches Cashback Program

Fluidity Money has announced a new cashback program that will reward customers when they use their crypto for payments. This program, which is a collaboration with enterprise crypto payments app Request Finance, sees cashback payouts in stablecoins like USDT and USDC.

Spend-to-Earn Program

This „spend-to-earn“ program not only incentivizes more people to use their crypto for payments by rewarding them whenever they do so, but businesses can also earn rewards when they integrate these payment options. The platform also says that this loyalty system doesn’t eat into the cashback through huge interchange fees, unlike credit card programs.

Random Distribution of Rewards

The distribution of the rewards will be random, with payments sent directly to users‘ wallets. While support is currently limited to stablecoin payouts, Fluidity Money plans to expand the program to other loyalty offerings such as NFTs in the near future – offering tickets to token-gated offerings, air miles and digital collectibles as rewards depending on the type of NFT used.

How Does Fluidity Money Work?

Fluidity Money works with wrapped stablecoins (called “Fluid Assets”) which are obtained by depositing stablecoins like USD Coin (USDC) and Tether (USDT) into its platform. These fluid assets are then used to make transactions within the network or exchanged back into its source currency at any time without incurring additional fees or delays associated with traditional financial networks.

Conclusion

By introducing this new cashback reward system, Fluidity hopes to introduce more people into using cryptocurrency for making payments while also providing businesses an incentive for integrating these payment options on their platforms – thus promoting mainstream adoption of cryptocurrency even further.

• Meta announced it would no longer be supporting NFTs on Facebook and Instagram.
• The company introduced the feature roughly a year ago but has now decided to focus its attention elsewhere.
• Meta will continue to work with NFT and web3 content creators who take advantage of its various tools to help them grow their community.

Meta Ends Support for Non-Fungible Tokens

Meta, the social media giant, announced that it is ending its support for nonfungible tokens (NFTs) on both Instagram and Facebook. The decision was motivated by a desire to focus more resources on other ways to support creators, people, and businesses.

History of NFT Support

The company first introduced the NFT feature in May 2022, and by August had expanded access to 100 countries across the Americas, Asia-Pacific, Middle-East, and Africa. In September 2022 it added a new feature that allowed users on both apps to share their digital collectibles cross-platform.

Other Products

Despite winding down support for NFTs, Meta will continue to pursue various ways it can help creators connect with their fans. It will focus on other products such as Reels which allow for better messaging capabilities and monetization options.

Continued Support

Meta will also continue to work with NFT and web3 content creators who take advantage of its various tools in order to help them grow their communities. Stephane Kasriel, head of commerce at Meta said “We learned a ton that we’ll be able to apply to products we’re continuing to build…”

Conclusion

In conclusion, while Meta is ceasing integration of NFTs into its platforms it will still maintain support for those using the technology in order ensure they can reach their audiences effectively and efficiently

• Kraken announces plans to launch its own crypto bank, initially available to customers in the US.
• The news comes as Silvergate Bank is struggling due to the collapse of FTX.
• Kraken has also been under increased regulatory pressure with recent settlements with the US Securities and Exchange Commission (SEC).

Kraken Announces Plans to Launch Crypto Bank

Kraken, a cryptocurrency exchange platform, has confirmed that it will be launching its own crypto bank in the near future. A tweet from the official Kraken Support account noted that the Kraken Bank was on track and would initially be available to users in the US.

Silvergate Struggles After Collapse of FTX

The launch of a new crypto-friendly bank comes at a time when Silvergate Bank continues to falter after the collapse of FTX. This downturn has caused difficulties for many crypto companies operating within traditional banking systems.

Kraken Granted SDPI Approval

Kraken’s plans for a bank follow it being granted a Special Purpose Depository Institution (SDPI) approval – making them the first crypto company to receive such a charter from any US state. As part of this initiative, they are now able to offer their services as an official financial institution.

Increased Regulatory Pressure on Crypto Companies

The exchange has also been under increased regulatory pressure recently, agreeing a multi-million dollar settlement with the SEC over their staking services. Other firms such as stablecoin issuer Paxos and crypto lender Nexo have also faced charges from the SEC in recent weeks, leading these companies to exit or phase out from operations in certain markets including the US market.

Conclusion

Overall, Kraken’s decision to launch its own bank is indicative of increasing trust between traditional banking institutions and cryptocurrency businesses alike. Despite some companies facing regulatory issues, this could signal a positive shift towards greater acceptance of digital assets in mainstream finance circles moving forward.

• BTC and ETH coins sold at a loss for the first time in 2023 this week, signaling a potential bottom in crypto markets.
• Bitcoin and Ethereum prices have both bounced above key price levels.
• On-chain analytics platform Santiment has flagged market activity that suggests the crypto bottom is likely to be forming.

BTC and ETH Sell-Off

BTC and ETH coins sold at a loss for the first time in 2023 this week, signaling a potential bottom in crypto markets. Bitcoin and Ethereum prices have both bounced above key price levels.

Historically Positive Metric

On-chain analytics platform Santiment has flagged market activity that suggests the crypto bottom is likely to be forming. The metric we are looking at is the ratio of profit/loss transactions for the two top cryptocurrencies by market cap.

Increased Selling from Traders

According to analysts at the firm, price declines over the past week came amid increased selling from traders who were exiting their positions at a loss. The market has historically bottomed when an increased number of crypto holders – the crowd – regularly sell their assets at a loss, Santiment noted.

Bitcoin Price Consolidation

Bitcoin traded to prices under $23k over the weekend before bouncing above the crucial level to hit highs of $23,690 across major exchanges. BTC/USD is currently trading around $23,410, just in the green.

Ethereum Price Increase

Ethereum prices also followed a similar trajectory, first dipping to $1,597 before recovering to $1,647. ETH/USD price has increased 2.3% in the past 24 hour

• Binance CEO Changpeng ‚CZ‘ Zhao denied reports that his exchange is looking to sever ties with US-based projects.
• The denial followed an earlier report claiming Binance was planning to delist all US-based tokens, including USD Coin (USDC).
• A Bloomberg report cites sources saying that Binance was reassessing its venture investments in the US.

Denial of Reports of Delisting US-Based Tokens

Binance CEO Changpeng ‚CZ‘ Zhao has denied reports that his exchange is looking to sever ties with US-based projects. His comments followed an earlier report that cited familiar sources as saying Binance was planning to delist all US-based tokens, including USD Coin (USDC). In a tweeted response to one of the reports, Zhao termed the report as „false.“ He went on to suggest that this wouldn’t be the case given „blockchain has no borders.“

Bloomberg Report Claims Binance Reassessing Ventures in US

A Bloomberg report published on Friday cited sources claiming Binance was looking to end relationships with its partners in the US and reassess its venture investments in the country. While acknowledging that Binance had indeed pulled back from some investment deals and takeover of bankrupt companies, Zhao noted this was just ‚for now.“

Focus on Education and Compliance

Zhao also linked to a previous tweet in which he says it is better to focus on education, compliance and product & service, and „ignore FUD, fake news, attacks, etc.“ It’s notable that Binance has been subject to a lot of FUD over the past few months.

SEC Suing Paxos For Unregistered Security

Today’s reports comes just days after the US Securities and Exchange Commission (SEC) said it was suing Paxos, the issuer of the Binance USD (BUSD) stablecoin. The regulator has labelled BUSD as an „unregistered security.“ That on top of the New York Department of Financial Services ordering Bitfinex/Tether for allegedly engaging in fraud related activities using Tether’s USDT stablecoin.

Conclusion

In conclusion while CZ denies reports suggesting they are delisting U.S based tokens it is clear there is heightened scrutiny by U.S regulators regarding cryptocurrency exchanges operating within their jurisdiction leading many exchanges taking precautionary measures

• Tether, a stablecoin issuer, has reported a net profit of $700 million in the fourth quarter of 2022.
• The profits are in addition to their reserves and have been attested by the accounting firm BDO.
• The company’s total assets exceeded its liabilities as of December 31st, 2022.

Tether Reports Profits for Q4 2022

Stablecoin issuer Tether recently published its latest attestation report for the fourth quarter of 2022. The report revealed that the company had recorded a net profit of $700 million during this period. This is in addition to their reserves and was attested by accounting firm BDO.

Consolidated Assets and Liabilities

The report also revealed that Tether’s consolidated total assets amounted to at least $67.04 billion while its consolidated total liabilities amounted to $66.08 billion as of December 31st, 2022. This reflects excess reserves of at least $960 million which is part of shareholder equity and not part of their reserves.

No Disclosure on Profit Sources

While commenting on this latest cryptocurrency news, Tether CTO Paolo Ardoino said; “Tether once again proved its stability in the troubled year of 2022” but did not reveal how it made these profits or where they came from.

Ceasing Secured Loans from Reserves

This report comes barely two months after Tether pledged to stop issuing secured loans from its reserves as part of an effort to maintain liquidity and improve transparency across all operations.

Conclusion

In conclusion, Tether reported a net profit of $700 million for Q4 2021 which is additional capital sitting in the company to further strengthen it amidst turbulent times in the cryptocurrency market throughout 2020-2022

Bulletpoints Summary

• Indonesia is planning to launch a national crypto exchange before June 2023.
• The crypto assets trading in Indonesia falls under the purview of the Commodity Futures Trading Regulatory Agency.
• Five active and licensed platforms have been identified from a list of 25 to join the national crypto exchange.

Indonesia to Unveil National Crypto Exchange by June

Background:

Indonesia’s Trade Ministry has announced that the country plans to roll out its national crypto exchange by June this year. The initial plan was for the cryptocurrency bourse to be launched by the end of 2022. In December, lawmakers in the House of Representatives passed an omnibus law which provides regulatory oversight for crypto exchanges.

Identifying Exchanges

Process:

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The government is currently reviewing digital asset exchanges with a view to joining them on the national exchange. From a list of 25, five active, registered exchanges have been identified.

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Minister’s Comments

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Trade Minister Zulkifli Hasan:

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Trade Minister Zulkifli Hasan commented that everything needed to be done properly before launching the project so as not to harm public who are still learning about trading cryptocurrencies. He also said that rushing could end up badly for everyone involved.

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Growth Of Crypto Communities In Indonesia

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Trends:

> < p >Indonesia is one of many countries with fast-growing cryptocurrency communities. This trend has been fueled by authorities suspending licensing of new exchanges and other official delays pushing back launches from their original planned dates.

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< h2 >Conclusion> >> << p >< strong >Outlook: > << p > The Indonesian government is taking steps towards creating a secure platform that will protect users while they learn more about cryptocurrencies and trading them online. It remains unclear when exactly this platform will go live but it looks like it could happen before June 2023.

• Analyst Dan Dolev from Mizuho predicts that Coinbase’s stock could drop 40% from its current price due to a survey suggesting that retail traders are not participating much in the recent surge in Bitcoin’s price.
• Dolev’s note on the Coinbase stock reads that the exchange’s market share during the bitcoin rally was 5.3%, which is in line with pre-rally levels.
• Dolev also states that Coinbase’s decision to end operations in Japan and potential signs of take rate pressures in Q4 may mean more headwinds for 2023 revenue.

Coinbase Global Inc, a cryptocurrency exchange, is likely to give up its entire year-to-date gain in the coming weeks and months, according to Dan Dolev, a senior analyst at Mizuho. This week, Dolev reiterated his „underperform“ rating on the cryptocurrency exchange and announced a $30 price objective that represents an alarming 40% downside from here. His warning is based primarily on a new survey that suggested retail traders are not participating much despite the recent surge in Bitcoin’s price.

Retail trading is Coinbase’s bread and butter, as it accounted for 83% of revenue in 2021. According to the survey, roughly 90% of the traders that were on the sidelines in December continue to be inactive this month. On top of that, over 33% that traded last month are sitting it out in January. This lack of retail participation is what Dolev believes will lead to a drop in Coinbase’s stock price.

Dolev’s bearish note on the Coinbase stock reads: „We measured COIN’s volumes against those of 25 largest crypto exchanges. We found that COIN’s share of combined volumes during the rally (bitcoin) was 5.3%, about in line with levels prior to the rally. Expectations for a stronger market share gain after Coinbase’s IPO have not materialized.“ This means that Coinbase’s IPO was not as profitable as expected and may indicate a larger problem with the company’s operations.

On top of the survey results, Dolev believes that Coinbase’s decision to end operations in Japan and potential signs of take rate pressures in Q4 may mean more headwinds for 2023 revenue. This suggests that Coinbase’s financials could be further weakened in the near future, leading to a decrease in its stock price.

Overall, Dolev’s warning that Coinbase’s stock could drop 40% from its current price should be taken seriously. The survey results and potential signs of take rate pressures indicate that Coinbase’s financials could be further weakened in the near future, leading to a decrease in its stock price. Investors should monitor the situation closely and consider reducing their holdings in the company.

• Deal Box has launched a new venture fund that will invest $125 million in blockchain and Web3 technology startups.
• The venture fund will target strategic investments aimed at unlocking the full potential of blockchain technology, with a focus on projects leveraging the new technology to reshape and improve everyday lives.
• The fund will look at projects across five key fund areas – fintech, emerging growth, funtech, real estate and social impact.

Deal Box, a US-based capital markets advisory platform, has announced the launch of a new venture fund, Deal Box Ventures, with an initial investment of $125 million. The fund will focus on blockchain and Web3 technology startups, looking to invest in projects across five key fund areas – fintech, emerging growth, funtech, real estate and social impact.

The goal of the fund is to provide the tools and funding ecosystem that startups need to succeed. As such, Deal Box Ventures will target strategic investments aimed at unlocking the full potential of blockchain technology, with a focus on projects leveraging the new technology to reshape and improve everyday lives.

Thomas Carter, the founder and Chairman of Deal Box, spoke about the launch of the fund, saying, “Deal Box Ventures is an important milestone in our journey to invest in the most promising and disruptive blockchain startups, providing them with the tools and funding ecosystem they need to be successful by simplifying and reimagining traditional financing models.”

Deal Box is a capital markets advisory platform founded in 2019. It has been actively investing in blockchain and Web3 startups since its inception, with a focus on projects that seek to create innovative solutions and bridge traditional markets with the emerging digital economy.

The launch of Deal Box Ventures marks an important milestone for the company, and its success will be deeply intertwined with the success of the blockchain and Web3 startups that it supports. The fund provides startups with the opportunity to access the capital and resources they need to grow, while also giving investors the chance to benefit from the potential upside of these projects.

With its focus on unlocking the full potential of blockchain technology and supporting projects that leverage the new technology to reshape and improve everyday lives, Deal Box Ventures is set to have a significant impact on the blockchain and Web3 space. The fund is now open for investments, and a wide range of projects in the five key fund areas are already being considered.

• Crypto markets have been in a period of relative calm following the tumultuous rollercoaster after the demise of FTX.
• Despite this, there are still several concerning developments around Genesis, Gemini and DCG.
• This period is reminiscent of the low drama environment pre-FTX in October.

Cryptocurrency markets have experienced a period of relative calm in recent weeks, following the tumultuous rollercoaster that occurred in the aftermath of the shocking demise of FTX. Volatility has come down and extreme on-chain activity has subsided, leading to an atmosphere that is more tranquil than has been seen in previous months. While this is certainly a welcome respite for those involved in the crypto space, there are still a few developments that could spark up the market once more.

The most concerning of these is the situation surrounding Genesis Trading and its associated lending arm, Genesis Capital. Last week, the firm laid off 30% of its staff and is reportedly considering bankruptcy as a result of the large financial losses it has incurred. This has also caused major issues for crypto exchange Gemini, as it has $900 million of customer assets stuck in limbo with Genesis, its sole lending partner for its Earn product.

Furthermore, Digital Currency Group (DCG), a major cryptocurrency investment firm, has also been hit by the market downturn. DCG’s Bitcoin-focused fund, the DCG Strategic Opportunities Fund, has seen its assets fall by almost 50% this year, leading to speculation that the company may be facing financial difficulties.

The period of relative calm that has been seen in the cryptocurrency markets is reminiscent of the low drama environment that preceded FTX’s collapse in October of last year. That period was followed by a series of tumultuous events, leading to a heightened sense of fear in the crypto space. While it remains to be seen if the current period of serenity will be followed by a similar chain of events, one thing is certain – the markets could be sparked up once more when the US inflation data is revealed this week.