Day: December 6, 2023

Hong Kong bans two crypto sites for misleading investors

Hong Kong’s Securities and Futures Commission (SFC) banned the two crypto websites for scamming users.
HongKongDAO and BitCuped were blocked after a joint effort of the police and internet providers.
The two cases come not long after investors lost over 1.6 billion HKD ($204 million) in JPEX and Hounax.

Hong Kong’s Securities and Futures Commission (SFC) has reportedly banned two cryptocurrency websites over allegations the site had scammed investors.

The South China Morning Post reported on Wednesday that the securities watchdog had blacklisted and blocked access to the HongKongDAO and BitCuped sites after authorities were tipped off that the platforms were misleading investors.

HongKongDAO touted “HKD” token

According to the SCMP, Hong Kong regulators found that HongKongDAO had hoodwinked users into buying a token dubbed “HKD”. The platform also offered false assurances, lying to users that it had applied for licences from the SFC and government.

HongKongDAO was reportedly on the SFC’s radar since November 24 and was found to have two chat groups. The Chinese chat group had over 10,000 members, while the English one had over 1,700. The project had ostensibly touted HKD as a token with huge market value.

The regulator worked with the police and internet service providers to have the HongKongDAO website blocked. SFC also issued a cease and desist notice to crypto trading platforms, asking them to halt any trading of tokens linked to HongKongDAO.

BitCuped falsely listed Hong Kong Exchange officials as owners

BitCuped, on the other hand, misled investors by falsely listing Hong Kong Exchanges and Clearing (HKEX) chairman Laura Cha and CEO Nicolas Aguzin as affiliated with the platform. SFC noted that neither individual had any connection with BitCuped.

The site misled investors by claiming to offer crypto and stocks trading services, the regulator said. It was blacklisted on November 10.

While the two sites have been banned for scamming investors, the SFC did not disclose how many people had fallen victim, or the total losses suffered. Police investigations are underway, the SMCP reported.

Hong Kong regulators and law enforcement are increasing their efforts to prevent scams such as those that recently involved crypto platforms Hounax and JPEX. In the two cases, fraudulent actors saw more than 1.6 billion HKD ($204 million) stolen from victims.

In August, the SFC warned crypto platforms and exchanges against misleading investors with false claims about their registration status. The regulator also cautioned providers against offering products and services not registered or authorised by the commission.

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Coinbase unveils global, instant money transfers via popular messaging and social platforms

Coinbase will allow users to send money globally via popular messaging apps like WhatsApp, iMessage, and Telegram.
The transactions are instant and free, breaking down geographical barriers.
To facilitate these transfers, both the sender and receiver need the Coinbase Wallet.

Cryptocurrency exchange giant Coinbase yesterday rolled out a groundbreaking service, allowing users to send money globally through well-known messaging and social media platforms.

The move aims to provide greater utility to its digital wallet and attract new users amidst a thriving crypto market.

Global money transfers using messaging apps

Coinbase now enables customers to send money globally through widely used messaging apps such as WhatsApp, iMessage, and Telegram. This move allows for seamless transactions, breaking down geographical barriers.

Users can send money to recipients in different countries, and the settlement of transfers is both instant and free of charge.

Coinbase emphasizes the simplicity of the process, stating that all that’s needed is the Coinbase Wallet, which is available for download on both Apple and Android app stores. If the receiver lacks the Coinbase Wallet, they will be prompted to download it, ensuring a smooth experience for both parties involved.

Coinbase’s growth amidst crypto boom

The introduction of this new service aligns with Coinbase’s efforts to make cryptocurrency transactions more accessible and attractive. As cryptocurrency prices, especially Bitcoin, surge, Coinbase’s share price has reflected this positive momentum, witnessing a remarkable 290% increase this year. The company’s shares, currently trading above $141, showcase its resilience and growth.

Coinbase’s success is also attributed to a reduced regulatory burden, with fewer battles against entities like the Securities and Exchange Commission. Additionally, traditional finance players like BlackRock express interest in a spot Bitcoin ETF, signalling the growing institutional acceptance of cryptocurrencies.

This strategic move positions Coinbase as a key player in the evolving landscape of digital finance, providing users with a convenient and efficient means of transferring money globally through familiar communication channels.

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BitMEX partners with PowerTrade for new crypto trading products

BiMEX is partnering with crypto options platform PowerTrade to explore and offer new trading products to professional traders.
The strategic partnership is backed by Ascend Ventures, Pantera Capital, Ledger Prime and QCP Capital.

Crypto derivatives exchange BitMEX has announced a strategic partnership with PowerTrade, a crypto options platform backed by Ascend Ventures, Pantera Capital, Ledger Prime and QCP Capital.

The collaboration between the two platforms seeks to explore and bring to the market new products for professional traders. The integration with PowerTrade sees BitMEX expand its portfolio as it focuses on further innovation to elevate the trading experiences of its users.

Commenting on the partnership, Stephan Lutz, CEO at BitMEX, said:

The strategic partnership with PowerTrade exemplifies our ambition to offer crypto traders the most profitable opportunities on the safest and most reliable trading platform in the market. We recognise the dynamics and competitive nature of the market, and we hope to set new standards for the future of crypto trading.”

BitMEX’s latest effort comes amid a growing demand for new derivatives products from professional traders. Currently, traders can access more than 100 derivatives contracts on the platform, and spot trading is available for 11 major pairs.

Its latest listing is for Fantom, with a perpetual swap of the layer one smart contract platform’s FTM set for listing on December 7, 2023. 

$FTM fans listen up because @FantomFDN is coming to BitMEX tomorrow, along with 10x leverage. For the lowdown on the latest listing, read on. 👇https://t.co/42NWxd5v2n

— BitMEX (@BitMEX) December 6, 2023

According to details on the BitMEX website, FTM/USD Perpetual Swap will list with up to 10x leverage.

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5IRE token launches on Bybit, pioneering sustainable blockchain era

The 5ire token (5IRE) has successfully debuted on the Bybit exchange.
With a community comprising entrepreneurs, developers, and sustainability advocates, 5ire emphasizes inclusivity and collaboration.
5IRE has inked strategic collaborations with governments, universities, and enterprises globally, including the Government of India’s NITI Aayog.

In a groundbreaking move, the 5ire token (5IRE) has successfully entered the Bybit exchange, signalling a positive shift in the blockchain landscape.

This innovative cryptocurrency introduces a new paradigm, marrying profitability with a commitment to global sustainability.

What is 5ire?

At the heart of 5ire’s success is its unique approach grounded in the principles of the fifth industrial revolution. Unlike traditional blockchains notorious for energy consumption, 5ire adopts a Sustainable Proof of Stake (SPoS) consensus, prioritizing environmental consciousness. This groundbreaking consensus mechanism not only ensures profitability for investors but also financially rewards sustainable practices.

The 5ire community, comprising entrepreneurs, developers, and sustainability advocates, actively contributes to the platform’s growth, fostering inclusivity and collaboration. By emphasizing Environmental, Social, and Governance (ESG) factors, 5ire positions itself as a leader in ESG as a Service (ESGaaS), leveraging blockchain for streamlined measurement, reporting, and analysis.

5ire’s strategic partnerships and real-world impact

5IRE’s commitment to real-world impact is evident through strategic collaborations with governments, universities, and enterprises globally.

Notable partnerships, including one with the Government of India’s NITI Aayog, underscore the platform’s role in shaping the next generation of blockchain developers and promoting sustainability.

As 5IRE takes its place on Bybit’s trading platform, investors can actively participate in this innovative and environmentally conscious ecosystem. The live 5IRE/USDT trading pair on Bybit offers a secure and user-friendly avenue for investors to contribute to a greener and more innovative crypto landscape.

With a focus on economic and environmental sustainability, 5IRE stands as one of India’s fastest-growing unicorns, driven by a global community committed to creatively utilizing the 5ireChain—an EVM-compatible smart contract platform aligned with the United Nations Sustainable Development Goals (UN SDGs).

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Litecoin (LTC) and Ethereum (ETH) Gain Momentum: NuggetRush’s Unique Position on the Market

TLDR

Litecoin’s (LTC) network activity has risen due to the declining patronage of its main rival, XRP.

Crypto users are intensifying their calls for Ethereum (ETH) spot ETFs.

NuggetRush’s (NUGX) fame has grown considerably after its presale growth of 30%.

Litecoin’s (LTC) network activity has grown due to the reduced network activity of XRP, one of its fiercest rivals. Ethereum’s (ETH) network activity has also soared following calls for Spot crypto ETFs. 

Yet, analysts say NuggetRush (NUGX) could be a better investment after its presale has risen by 30%. NuggetRush (NUGX) is a meme coin adventure with spectacular gameplay and excellent rewards. 

Yet, can it become one of the best DeFi projects? Let’s hear what NUGX’s supporters say.

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Litecoin Rises Amid XRP’s Continued Lawsuit

Litecoin’s (LTC) network activity has risen sharply since mid-October, partly due to reduced network activity on XRP due to its ongoing legal battles. Data from CoinMarketCap also showed that Litecoin’s market capitalization has grown by $800 million since mid-October.

As expected, Litecoins’ rising network activity comes amid LTC’s recent volatile performance. LTC was trading at $69.94 on November 1. By November 15, LTC had grown by 5.9% to $74.08. However, LTC’s price fell by 6.2% to $69.45 by November 30.

XRP’s recent legal troubles looks to have pushed many users to Litecoin (LTC). This has resulted in record-breaking transaction count levels for Litecoin in 2023. Analysts expect this trend to continue as XRP’s lawsuit will continue well into 2024. Furthermore, analysts say Litecoin’s trading activity will keep rising, thus pushing LTC up by 12.2% to $77.98.

NuggetRush Turns Heads with 30% Presale Growth

NuggetRush (NUGX) is a mining game that offers a challenging and fun-filled experience while offering players high rewards and the opportunity to win gold. The project features a mineral-filled ecosystem where players must become successful mining entrepreneurs by leveraging the skills of artisanal miners.

At the start of NuggetRush (NUGX), players get a few artisanal mining characters. Players also receive mining machinery. NuggetRush will then give players several tasks along the way, ranging from mundane activities to high-level activities. Players will get to dig shafts, set up tunnels, and use other soil sampling techniques.

Players will also locate mineral-rich terrains and excavate mineral resources before receiving rewards. With each completed mining task, players will get a boost in mining efficiency. 

NuggetRush (NUGX) will also reward players with more NFTs, improved equipment, and currency that’s only usable in the game. These NFTs can be traded on NuggetRush’s marketplace. Players can also stake their NFTs, thus earning rewards without selling their in-game collectibles.

NuggetRush’s blockchain ICO just entered round three of its presale after jumping by 8.3% from its round two price of $0.012. NUGX’s current value is $0.013. However, its price has risen by an overall 30% since the start of its presale. 

Furthermore, round four of NUGX’s presale will bring a 15.3% price increase to $0.018. NUGX’s value is programmed to rise until it gets to its listing price of $0.020.

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Ethereum Could Jump Due to Growing Calls for Spot ETFs

On November 16, 2023, BlackRock officially filed for a spot Ethereum (ETH) ETF. The move follows several applications for Spot Bitcoin ETFs. Furthermore, BlackRock’s Ethereum ETF application comes amid market bullishness caused by growing calls for Spot ETFs.

ETH was trading at $1,847 on November 1. Following BlackRock’s application for Spot Ethereum ETFs on November 16, ETH rose by 6.1% to $1,960. ETH remained bullish, rising by 4.6% to $2,052 on November 30.

There is widespread demand for spot Crypto ETFs. Analysts say approving spot ETFs for Ethereum (ETH) and Bitcoin would boost institutional adoption. 

Furthermore, they believe it will bring greater scrutiny to crypto trading, further increasing transparency and growth of the ecosystem. This could boost Ethereum’s trading activity significantly, thus pushing ETH up by 15.3% to $2,367. Furthermore, it could make Ethereum (ETH) one of the top DeFi projects.

Visit NuggetRush Presale Website

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Terra founder Do Kwon appeals against extradition to South Korea and the US

Do Kwon appeals his extradition decision.
Kwon’s legal battle began on June 15 with a six-month detention for extradition.
The High Court recently approved requests from South Korea and the United States.

In some breaking crypto news, Terraform Labs co-founder, Do Kwon, has officially lodged an appeal against the recent extradition decision by the Montenegrin High Court.

This move introduces a new layer of uncertainty into the resolution timeline, challenging the Montenegrin Ministry of Justice to make a final decision before the looming deadline of December 15.

Do Kwon legal battle

On December 6, the Montenegrin Court of Appeal confirmed that Do Kwon submitted an appeal, expressing his refusal to accept the court’s decision to extradite him, as reported by local media. This appeal triggers a mandatory reexamination of the extradition ruling, placing the resolution timeline in question.

The legal saga began on June 15 when Kwon was initially detained for extradition for six months, with the Montenegral High Court approving the extradition requests from both South Korea and the United States just two weeks ago. The lack of specification in the decision as to whether Kwon would be extradited to Korea or the United States adds complexity, leaving the final determination to the Montenegrin Minister of Justice.

Despite Kwon’s expressed desire to be extradited to Korea, local observers in Montenegro are sceptical about the chances of overturning the decision. There’s a prevailing belief among Montenegrin officials that Kwon’s continued detention draws undue attention.

What next for Do Kwon?

The Montenegrin Court of Appeal’s forthcoming decision on the extradition appeal will be closely watched, holding the key to Do Kwon’s potential extradition destination—either Korea or the United States.

The appeal introduces uncertainty into the timeline, making it challenging for the Montenegrin Ministry of Justice to finalize a decision before the set deadline of December 15.

The situation remains fluid, and the legal community anxiously anticipates the resolution of this high-profile extradition case.

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Memeinator quickly sells out in stage 6, maintaining huge predictions in 2024

Memeinator has entered stage 7 of the presale as demand rises.

The presale delivers a 132% ROI in 29 stages.

Memeinator has up to 50x potential in the long term.

As 2023 tip toes toward the finish line, Memeinator (MMTR) is emerging as an invincible meme token contender. Investors have accumulated over $1.724 million up to stage 7, a few weeks after the presale was launched. Investors have made early gains, with the price now at $0.014, from its initial offering value of $0.01. Will the meme vibe and unique proposition make memeinator a 10x or more investment?

Welcome to the Memeinator world

“Your meme’s survival is not up to you. It’s up to me.” It’s a stark warning by one of the most ambitious meme crypto projects of our time. Needless to say, Memeinator has captured the attention of investors yearning for something from the ordinary.

Boosting cutting-edge AI technology and meme-targeting systems, Memeinator seeks to destroy its weak peers. In fact, Memeinator claims to have travelled back in 2077 with a mission to destroy memes with no future. The promise comes amid an uncontrolled growth of meme tokens that fail to give investors value.

Aided by AI, Memeinator will crawl the weak to find and crush memes that are not worthy of attention. The aim is to ensure the strongest survive, enabling investors to put their resources into worthy projects. 

The value proposition of Memeinator has attracted investors, with the quick presale showing it. As such, it could be a matter of time before Memeinator occupies a crucial role and leaves its own mark. But to what benefit?

132% ROI and price potential attract investors to Memeinator

Memeinator has been tantalising in presale, with its value increasing at every stage. Throughout a 29-stage presale, the value of Memeinator will have risen by 132%. When the token is listed on the best exchanges in 2024, early-bird investors will have scooped huge gains.

Memeinator also carries a huge potential post-listing. Very few projects have generated the demand and enthusiasm as Memeinator. The FOMO on a new novel crypto project means that the speculative value of Memeinator is high. Coupled with being a meme project, Memeinator could immediately take off after listing, generating gains. 

Additionally, Memeinator has diverse use cases that could help unlock its value. The team will launch a web 3.0 game at the end of the presale. Users play the game in intense enemy combats mimicking Memeinator’s meme destruction. The game cements Memeinator as a mainstay in Web 3.0, helping in the price discovery of its token. Memeinator is also expected to launch a staking feature and community NFTs. The utilities give its users diverse passive income opportunities.

Will Memeinator rise by 10X or more in the future?

While it is premature to speculate on the future value of Memeinator, there are signs of a big potential. Meme tokens attract a lot of interest because of their parabolic price movements when they are listed. By this analogy, Memeinator is no exception, as it has demonstrated potential in its early days. 

A potential 10x gain is possible since meme tokens have risen by similar margins and more. Over the long term, Memeinator will have a chance to prove its worthy cause. From there, the token could unlock a potential of up to 50x, cementing the status of a worthy meme project. The gains will be crucial to Memeinator attaining its $1 billion market cap target. The token could be among the best meme coins with such market value.

Should you buy Memeinator this week?

Memeinator’s presale is selling out quickly, as stage 6 underlined. The price rises at every stage, implying that an early investment is better. At stage 7, the price is $0.014 and will increase to $0.0148 next. As such, investing before the price rises gives a better return ratio in the presale.

The post Memeinator quickly sells out in stage 6, maintaining huge predictions in 2024 appeared first on CoinJournal.

Solana (SOL) and Avalanche (AVAX) Encounter Strong Competition as BorroeFinance ($ROE) Attracts Investors Seeking Stability

Emerging crypto projects like BorroeFinance ($ROE) are making waves in the industry, challenging top crypto coins like Solana (SOL) and Avalanche (AVAX). As BorroeFinance continues its presale phase with a remarkable 50% surge from $0.01 to $0.015, it positions itself as a significant player in the crypto market. Let’s delve into the current scenarios of Solana and Avalanche and explore how BorroeFinance is influencing investor sentiment.

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BorroeFinance ($ROE): Financing Made Easy for Web 3.0 Companies

Amidst the competitive landscape, BorroeFinance ($ROE) stands out as a Web 3.0 blockchain invoice discounting NFT marketplace. Functioning as one of the pioneers in its domain, BorroeFinance facilitates seamless operations for businesses by offering instant funding and working capital through the buying and selling of invoices. 

Also, the platform introduces innovative fundraising through NFTs representing future invoices, auctioned at attractive discounts. Buyers and sellers on BorroeFinance are rewarded for marketplace activity, fostering a peer-to-peer ecosystem that minimizes inefficiencies associated with invoice financing. 

With a focus on creating a dynamic and efficient marketplace, BorroeFinance’s $ROE token, currently priced at $0.015, has witnessed a 50% increase from its Beta Stage. $ROE is likely to be one of the best cryptocurrency to invest in next year with this positive start. 

>>BUY $ROE TOKENS NOW<<

Solana (SOL)

Solana has been one of the top altcoins in the past year. SOL is trending because it gained 5.30% in the latest trading session. This increase is putting SOL’s price in a good spot, going above important daily averages, which is a positive sign. People who study the market think this good momentum might keep going, and if it does, SOL could reach a strong resistance level at $57.07.

Making Solana even more attractive is its recent inclusion of tBTC on Wormhole. This cool idea connects Solana to other decentralized finance networks, making the Solana community happy and confident. Solana now stands out in the market. It’s not just because its price is doing well, but also because it’s using technology in a strong way. 

A lot of people are paying attention to SOL because it’s becoming a popular choice for investors. It’s been doing well lately and growing, and that’s why many investors are watching it closely. They see it as a good opportunity in the world of cryptocurrency.

Avalanche (AVAX) Hits a Dip Due to Sell-Offs

Avalanche (AVAX) faced a downturn following the recent Bitcoin sell-off, resulting in a 15% loss as it dropped below $16.00. Currently trading at around $20.00, AVAX is in a state of flux. Despite this, experts are optimistic about a reversal, citing the upcoming GoGoPool solution. The GoGoPool aims to reduce the cost of operating a validator node and enhance user interaction with Avalanche Subnets.

Launched in 2021, Avalanche (AVAX) earned the moniker “Solana (SOL) Killer” due to its rapid transaction processing speed. With a safety threshold of 80%, surpassing Ethereum (ETH) and Polkadot (DOT), AVAX gained traction among major crypto platforms like BitGo, Binance, and Deloitte. Trading above $18.00, AVAX holds the 15th position in global cryptocurrency rankings with a market capitalization exceeding $6 billion.

Conclusion

In conclusion, as BorroeFinance ($ROE) gains momentum, Solana (SOL) and Avalanche (AVAX) face formidable competition, making the crypto market a vibrant arena for investors seeking stability and innovative solutions.

Learn more about BorroeFinance ($ROE) here:

Visit BorroeFinance PresaleJoin The Telegram GroupFollow BorroeFinance on Twitter

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Binance halts AEUR stablecoin trading after a 200% surge days after listing

Binance abruptly halts AEUR trading.
The euro-pegged stablecoin experienced an extraordinary 200% surge just one day after its listing.
AEUR is supposedly backed by euro fiat assets.

Binance has abruptly halted trading on the AEUR stablecoin, pegged to the euro, as its value soared over 200%.

The unexpected surge on December 5 raised concerns, leading to a swift response from the exchange. This incident sheds light on the risks associated with stablecoins, particularly those with lower market caps and liquidity.

AEUR’s rollercoaster ride 

The AEUR stablecoin, pegged to the euro at 1:1, witnessed an unprecedented surge of over 200% on Binance, just a day after its listing. Initially trading around $1.08, mirroring the prevailing EUR-USD rate, the token’s value skyrocketed to $3.25 at 17:45 UTC.

Binance promptly suspended trading due to “abnormal volatility,” indicating concerns about the stability of the coin.

#Binance has suspended trading of $AEUR due to abnormal volatility.

Thanks for your patience and our team is working towards reopening trading soon.https://t.co/F80OVDG1qk

— Binance (@binance) December 5, 2023

What is AEUR stablecoin?

AEUR is issued by Anchored Coins, a Switzerland-based subsidiary owned by Singaporean investor Calvin Cheng. Touted to be backed by euro fiat assets, the stablecoin boasts a $5 million market capitalization.

However, its sudden surge and subsequent trading halt underscore potential vulnerabilities. The coin’s lower market cap and limited liquidity create an environment where de-pegging and manipulation risks are heightened.

This unexpected incident on Binance serves as a stark reminder that stability challenges can afflict even seemingly secure stablecoins.

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