French Lawyer Calls On Russian Patriarch To Save Alexander Vinnik

A lawyer part of the defense team of Alexander Vinnik has reached out to the Russian Orthodox Church, asking them to intervene on behalf of his client.

The Russian national is the alleged operator of the BTC-e crypto exchange and could be sentenced to 50 years in jail for the part he played in the fiasco.

Assistance

The French attorney, Frederic Belot, has been representing the alleged money launderer and Russian crypto entrepreneur, Alexander Vinnik in his case for years.

The lawyer has now called upon Patriarch Kirill of Moscow and All of Russia and requested them to help his client return to his homeland.

The letter penned by the attorney said that the United States was treating the case as a political trial and not a legal one.

Belot warned that Vinnik might be sent to prison for 50 years in the United States and he added that the only way to save him was in exchange for other American citizens who are imprisoned in Russia.

He also said that other Russian prisoners could also be exchanged, referring to the cases of Paul Whelan and Brittney Griner.

It is not the first time that the lawyer has presented this solution.

Vinnik’s condition

The lawyer had asked Moscow in early September to consider Vinnik in negotiations with Washington for a potential prisoner swap.

He had highlighted that during his time in Greece, Vinnik’s health had suffered greatly because he had gone on a hunger strike and, in France, he had to spend time in solitary confinement.

In the letter to Kirill, the French attorney said that Vinnik is an Orthodox Christian.

He added that the crypto entrepreneur had been able to survive loneliness, the death of his wife, separation from his family, and the monstrous injustice carried out by the authorities of several nations because he believed truth will prevail.

Violation of rights

Berlot also highlighted the violation of Vinnik’s rights that had occurred in Greece after he had been detained and extradited to France, from where he was extradited to the US.

The Russian had been arrested in July 2017 in Thessaloniki when he had been on vacation and the warrant for his arrest was issued by the United States.

Vinnik had been accused of laundering funds between $4 and $9 billion through the BTC-e exchange that has now become defunct.

He had been handed over to the French authorities by their Greek counterparts in December 2019 where he was handed a five-year prison sentence for money laundering.

After he served his sentence, the French authorities returned him to Greece in August from where he was extradited to the United States.

During these years, Russia has also attempted his extradition over charges of fraud and embezzlement of more than $12 million, but the requests had not been granted.

Vinnik has been suspected of collaborating with Russian intelligence and he himself has stated that he wanted to appear in a court in Russia.

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Dogecoin Hits a Strong Rally and Reaches April Highs

Over the weekend, Dogecoin reportedly jumped higher as the entire DOGE market was filled with joy. The cryptocurrency industry was excited over the latest updates of Twitter being acquired by Elon Musk.

Elon Musk is DOGE’s Positive Factor

Since 2021, Elon Musk has proven himself to be a positive factor for Dogecoin (DOGE). He has continued supporting the meme coin despite the downfalls it had to face due to the crypto winter.

He is the reason why just a meme coin became one of the largest-valued cryptocurrencies in the entire crypto-verse.

Time after time, Elon Musk has continued extending his support for DOGE and to this day, he is focused on helping the meme coin.

This is the reason why many analysts think that Elon Musk is a positive factor for Dogecoin. Whenever he says something about DOGE, it forms a strong rally around the meme coin.

Twitter Acquisition Sent a Frenzy

Just when things were going normal for Dogecoin, Elon Musk came in and sent a strong frenzy throughout the DOGE investment market.

He announced that he had officially acquired Twitter. Right after the announcement, the investors rallied Dogecoin and its price rose tremendously.

As the investors started to rally Dogecoin, the excitement grew more among the rest of the DOGE community. Finally, the long wait was over and the investors were glad to invest in DOGE.

They continued investing in DOGE and as a result, the meme coin’s trading price rose by 150%. This was a huge gain for DOGE as it would go on to hit higher trading levels.

In just four days, the trading price of DOGE has hit the same high level it had hit in April 2022. That was the first time it was announced by Elon Musk that he was acquiring Twitter.

Why did DOGE rally after Twitter Acquisition?

Even before Elon Musk had announced his plans of acquiring Twitter, he had shared some ideas about Twitter’s future orientation with Jack Dorsey.

Dorsey was the founder and former CEO of Twitter, who resigned and went on to become the founder and CEO of Square.

Among the ideas Elon Musk gave was to change the orientation of Twitter from being a social media platform to a payment platform.

He gave an idea that the users could send and receive funds in crypto through Twitter. However, things did not work out as Jack Dorsey left Twitter in late 2021 and was replaced by Parag Agrawal.

Following the acquisition, Elon Musk may go onto adopt Dogecoin as the native token on Twitter. He had previously claimed that he would integrate DOGE to Twitter.

Now that Elon Musk has acquired Twitter, the entire investment community is hoping he would stay loyal to his words.

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Celsius Creditors Against Selling Off Its Stablecoin Cache

A committee of unsecured creditors of Celsius Network has filed a motion with the court, as they want to stop the crypto lending platform from selling off its stablecoin holdings.

The group of creditors submitted the written protest against the sale after a number of objections had been filed on September 29th by a number of securities regulators.

Securities regulators object

The now defunct-crypto lender Celsius had filed a motion on September 15th with the bankruptcy court in which it had demanded permission for selling its stablecoins worth $23 million.

The aim of the court filing was to gain access to their stablecoin stash after a recording of an all-hands meeting was leaked, which indicated that the bankrupt firm was trying to introduce a revival plan.

Two weeks after the company had submitted the request for accessing its stablecoin cache on September 15th, state securities officials from Texas and Vermont had filed objections against the move.

According to the Texas State Securities Board (TSSB), the request put forward by Celsius Network for its stablecoins was ‘inappropriate’.

The objection of the TSSB said that the motion from the debtors had not disclosed just how many stablecoins they intended to sell and how the bankruptcy estate would benefit from its monetization, along with its creditors.

Creditors object

The official committee of the company’s unsecured creditors also filed an objection on October 25th, 2022 and said in their motion that the stablecoin request should not be approved.

According to the committee, the ownership of these stablecoins is contested because there are some creditors who believe that they belong to the lender’s customers.

But, in accordance with the official ‘Terms of Service’ of the crypto lender, it is not clarified how the digital assets will be treated and the rights that will be given to customers in the event that the company files for bankruptcy.

In addition, the Terms of Service clarify that all titles and rights are granted by Celsius customers to the company for any assets.

Evidence required

Even though the bold lettering and fine print in the Terms of Service provide enough details, the committee of unsecured creditors still wants the company to prove ownership of the stablecoins.

The creditors have demanded evidence and arguments that can explicitly show that the assets are owned by the lender because they believe that it does not have any evidence of this scenario.

The bankruptcy case of Celsius Network has not gone on smoothly, to say the least. The company has had to deal with opposition at every step of the way.

However, the court did grant approval to Celsius’ request on August 17th about obtaining the bitcoin holdings that were obtained via the mining activities of the company.

The court has been sent a number of letters by the creditors in which they pled with the judge to release the funds to customers because they are in dire need of their money.

One woman said in a letter that stablecoin holdings should be treated in a different manner.

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Pioneer Markets Review – Is Pioneer Markets Scam or a Legit Crypto Broker?

Pioneer Markets Review

Pioneer Markets is one of the most recent and popular brokerage platforms that has been gaining traction in the online trading market. Pioneer Markets is a safe and legal platform for trading stocks and crypto. They have been evolving to meet the increasing needs of traders, especially those looking for a more secure form of trading in case their investors are not protected. In this Pioneer Markets review, multiple points of this broker will be discussed.

What is Pioneer Markets?

Pioneer Markets is an online brokerage platform that offers access to the global financial markets. The platform is said to be a multi-exchange trading platform, which allows customers from all over the world to participate in cryptocurrency trading.

Pioneer Markets offers a variety of tradable assets, including major and minor currency pairs, indices, stocks, commodities, and cryptocurrencies. Pioneer Markets is a new crypto trading platform. It allows users to trade cryptocurrencies from all over the world. The site has many benefits, such as low fees for market makers and high liquidity.

Who You Should Use Pioneer Markets?

Pioneer Markets is a good choice if you are looking for an online broker that is reliable and has a good reputation. Pioneer Markets is best suited for experienced traders and investors who are looking for a reliable online broker. It provides its clients with access to a wide range of markets, including forex, CFDs, and futures. The broker also offers competitive spreads and commissions.

Overall, the Pioneer Markets trading terminal is a great choice for anyone looking for a reliable and user-friendly online trading platform. It offers a very user-friendly and advanced trading terminal that is perfect for both novice and experienced traders.

Financial Instruments At Pioneer Markets

When it comes to financial instruments, Pioneer Markets is a well-rounded forex broker. It offers a good selection of currency pairs and CFDs on various other assets, including commodities, indices, and cryptocurrencies.

Overall, it is a good choice for traders looking for a reliable broker with a good selection of financial instruments. I believe that Pioneer Markets is a reliable and trustworthy broker that offers its clients a good selection of financial instruments and resources to help them trade effectively.

Educational Materials at Pioneer Markets

Pioneer Markets offers a comprehensive education centre on its website that is available to all account holders. The education centre contains a variety of materials, including video tutorials, e-books, articles, and webinars. All of the materials are designed to help traders learn more about the markets and how to trade effectively.

These tutorials cover a wide range of topics, from basic market concepts to more advanced trading strategies. The videos are easy to follow and understand and provide valuable information that can help traders improve their results.

Outstanding Features of Pioneer Markets

Pioneer Markets offers many features that make it an outstanding broker. Here are some of the most notable:

Seamless account management – Pioneer Markets offers a single account type that can be used for both demo and live trading. This makes account management straightforward.

Wide range of markets – Pioneer Markets provides access to a wide range of markets, including forex, CFDs, indices, metals, and energies.

Excellent customer support – Pioneer Markets offers excellent customer support through live chat, email, and telephone. The broker’s representatives are always willing to help traders with any problems or questions they may have.

Negative balance protection – Pioneer Markets protects its clients from incurring negative balances by automatically closing out trades at stop-out levels. This ensures that traders will never lose more money than they have in their accounts.

Pioneer Markets platform, accessible 24/7 via any computer or mobile device, aims to make financial transactions easier, faster and more efficient through cutting-edge technology and various other features designed to give traders increased control over their money management.

Conclusion

The last thing anyone would want to lose is their hard-earned money, so please do your research before investing with any company. There are a lot of scams online, so it’s important that you’re careful. The only way to know if a company is legit is to look at the reviews. If you have any questions or comments about Pioneer Markets, feel free to leave them in the comments section below.

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Police In Uzbekistan Get Training On Seizing Cryptocurrency From United Nations Security Organization

In Uzbekistan, the OSCE, also known as the Organization for Security and Co-operation in Europe, help a five-day long training session for the local police.

The course focused on digital assets like cryptocurrencies, as well as conducting Dark Web-related investigations for local prosecution forces.

The course acts as a part of the organization’s constant efforts to inform law enforcement agencies in Central Asia about the advancing technology that bad actors can abuse. The reason why it’s so important is that the region is strategically crucial for the global drug trade.

Key Concepts of Course Include Cryptocurrency, Encryption, and Tor Networks

According to the October 21 press release, representatives from the State Security Service, the Ministry of Internal Affairs, and the General Persecutor’s Office attended the course, which took place from October 17 to 21.

There, they learned about major trends and key points surrounding concepts like Tor Networks, the Dark Web, obfuscation methods, digital assets, encryption, and internetworking.

Over the course of the training session, the law enforcement agents grew familiar with the different methods to seize illegally held cryptocurrency.

Moreover, they learned about blockchain analysis, all of which was accommodated through the ECTEG, or the European Cybercrime Training and Education Group.

Reports show that the OSCE has also donated a complete computer-equipped classroom to the General Prosecutor’s Academy.

Course Becomes First National Training In Uzbekistan

The training session held by the OSCE is now the first-ever national course in Uzbekistan. It was provided 6as phase two of the extra-budgetary project Capacity Building on Combating Cybercrime in Central Asia.

The project is funded by the US, the Republic of Korea, and Germany. Additionally, nationwide training activities will take place throughout the region over the course of this year and the next.

The OSCE is currently the biggest security-oriented intergovernmental organization globally. Moreover, the agency has observer status at the UN.

The organization is based in Vienna and emphasizes concerns like free and fair elections, freedom of the press, establishing human rights, and arms control.

OSCE Held Crypto Enforcement Course in 2020

Two years ago, the OSCE held a training session on cryptocurrency enforcement that could help with the regulation in Central Asian countries.

At the time, there was a larger scope when it came to participating enforcers. Held in the city of Almaty, representatives from countries like Mongolia, Uzbekistan, Turkmenistan, Tajikistan, Russia, Kyrgyzstan, Kazakhstan, and Azerbaijan were in attendance.

In August, the Uzbeki government, which had made great strides to develop a moderate approach to crypto, started restricting users’ access to numerous crypto exchanges.

These included Huobi, FTX, and most importantly, Binance, which accusations against the firms claiming unlicensed activities.

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Fed Governor Skeptical Of CBDC

Christopher Waller, the Governor of the Federal Reserve, shared his thoughts about a central bank digital currency (CBDC) and said that he is not in favor of it.

The governor said that it would just be a checking account at the US central bank. Jerome Powell, the chairman of the Federal Reserve, recently stated that they had not decided if they were going to issue a digital dollar or not.

Skeptical governor

On Tuesday, Christopher Waller was in attendance at the Money 20/20 conference held in Las Vegas, where he shared his perspective on central bank digital currencies (CBDCs).

The governor of the Federal Reserve said that he was not a big fan of a digital dollar because it would only be a checking account.

But, he did add that he was willing to listen to anyone who could convince him if it could really be valuable.

Some people have asserted that a digital currency backed by the Fed would help in ensuring the dominance of the US dollar in the international currency market.

After all, there are a lot of countries, including China, who has been working on developing their own central bank digital currencies (CBDCs).

China’s progress

The People’s Bank of China (PBoC) has been running trials of its digital yuan. In fact, the Chinese central bank revealed last month that they would expand the testing areas of their CBDC.

The PBOC announced this month said that as of August 31st, the total transactions that had been conducted with its central bank digital currency (CBDC) surpassed the 100 billion yuan mark.

According to Waller, he could not understand why China was offering its citizens a checking account at the central bank.

Likewise, he could not figure out how it would affect the role the US dollar played in the global payments system.

The CBDC

Back in January, the Federal Reserve published a report that outlined the work it was doing on the digital dollar.

It was called the first step that was taken for discussing the CBDC between the US central bank and the stakeholders.

However, it should be noted that the Federal Reserve has not decided if it will actually issue a digital dollar, or not.

The chairman of the Fed, Jerome Powell had discussed the matter back in September and said that they were not decided about the CBDC and would not make the decision for a while.

He went on to say that it would take them a few years to go through the process and they would also work on earning the confidence of the public before they come to an ultimate conclusion.

Powell also asserted that they would have to get approval from Congress as well as the executive branch before they decide if they are going to issue a central bank digital currency or not.

Central bank digital currencies (CBDCs) have become quite a hot topic recently, with a number of countries working on the digital versions of their respective fiats.

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For First Time Ever, Ripple has Reported its Earnings have Fallen Lower than 50%

Ripple Labs has recently provided an update in regard to its holdings for XRP. The firm has reported that its earnings have dropped lower than 50% compared to the overall XRP in circulation.

Ripple Labs Holdings Fall Below 50%

The officials at Ripple Labs have revealed that this is for the first time that their holdings for XRP have fallen below 50%.

In the past, many have continued criticizing Ripple Labs for holding such a large number of XRP. They kept sharing their concerns that Ripple Labs always held more than 50% XRP.

Many claimed that despite being a decentralized crypto, having more than 50% XRP made it look like a centralized protocol.

Many have argued that Ripple Labs has control over the XRP Ledger (XRPL) in a centralized manner.

It was on October 27 when the officials at Ripple Labs shared the report for the third quarter. In the report, Ripple Labs went on to refute the claims about its XRP holdings.

The firm claimed that its holdings in XRP continue to fall and it continues to decline. The firm revealed that its XRP holdings have fallen below 50%, which suggests its XRP holdings are less than half the circulating XRP.

Claim by The Critics

According to market critics, Ripple Labs holding more than 50% XRP means that the firm itself holds control over the XRP Ledger.

However, Ripple Labs has continued denying such claims and criticism by providing explanations for the allegations that they deem to be false.

The Ripple teams have explained that the Federated Byzantine Consensus is used by the XRP Ledger. According to the team, the particular consensus is used for the validation process of the transactions.

In addition to the above, the consensus also helps make the network securer and adds new features. The team clarified this misconception, revealing that only one vote is granted to every validator node.

They get only one validator node no matter how many XRPs they hold. While explaining the situation, the XRP officials claimed that whatever the critics have claimed is not true at all.

The firm has confirmed that out of more than 130 validator nodes for the XRP Ledger, they only own 4 of them.

Report by Ripple

In the Q3 earnings report, Ripple reported that the XRP net sales they recorded in the third quarter were worth $310.68 million.

The figure is almost $100 million less compared to the second quarter because, in Q2, the net sales were worth $408.9 million.

Following the data release, the trading price of XRP has recorded a 2.4% dip. At the time of writing, XRP’s trading price is worth $0.46.

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Enduring Markets Review — What You Should Know

Enduring Markets Review

When looking for a reliable company in the trading industry, you should pay attention to platforms that have a rich selection of financial instruments and good trading conditions. Enduring Markets is in the top echelon of brokerage service providers working in the trading world. You will be able to find a plenty of great financial products including access to the market, derivatives, investment plans, and more.

While this particular trading platform gains more and more popularity and respect in the industry, you may have a desire to ask some additional questions to know this broker better.

What allows Enduring Markets to stand out?

Availability of many advantages help a broker to provide high-quality services to all clients. Also, it helps to stay at the top of the list among other brokers because traders see the potential and many opportunities from collaboration with Enduring Markets. Let’s take a look at the most notable advantages that attract customers to the platform.

• Strong customer support. Dealing with any online service is associated with technological and communicational questions that must be quickly resolved to ensure that you can have a free access to the market. The support team at Enduring Markets is one of the best due to its experienced consultants who are ready to provide assistance and answer all client’s questions. This department is available via email or phone.
• Favorable trading conditions. If you want to be profitable when trading in the market, you should be using brokerage services that provide more flexibility. Enduring Markets offers low spreads, flexible leverage, and plenty of reliable payment options.
• Great terminal. The native terminal offers a multifaceted suite of instruments facilitating informed decision-making and thorough analysis of market situations.
• Experienced trading assistance. Your personal expert will stay in touch with you to give you the necessary advice about trading, using the tools and adjusting your financial strategy according to your main aims.
• User-friendly and intuitive platform. Even any registered user with little experience can easily navigate the platform and take advantage of all its features.
• Plenty of investment opportunities. The broker gives each client a choice of the most favorable investment plan according to the client’s skills, capabilities and goals. There are a total of 6 such plans: Training Programs, Secondary Income plan, Family plan, Retirement plan, Vacation plan, and VIP plan.
• Easy registration process. To join Enduring Markets, you need to fill in a short application form and enter the following details: first name, last name, country, phone number, and email.
• Solid security measures. The company takes safety seriously, so encryption of all data is a mandatory broker’s provision.

Does Enduring Markets offer many financial instruments?

A diverse catalogue of assets is a must-have for any broker that wants to provide a high-quality service. Here are some of the choices that will be available to you on this trading platform:

• Initially, the trading market was used as the global space for exchanging currencies. Today, currencies are an important part of a much bigger industry.
• Futures, options, and perpetual futures on all sorts of assets including commodities, cryptocurrencies, and more.
• CFD contracts. These are usually based on stocks and indices. CFDs provide you with an opportunity to apply fundamental analysis when trading.

How to deposit money when trading with Enduring Markets?

Having access to numerous payment methods is quite important for a contemporary retail trader. Clients of Enduring Markets can deposit money with any of the options below:

• Credit/debit/prepaid cards are the best option to deposit some funds from the client’s card to the trading account.
• Bank transfers is suitable for transferring money from the client’s bank account to the platform’s.
• Wallet to wallet option is used with cryptocurrency transfers.

Should you register with Enduring Markets?

The path to financial success depends directly on your aspirations, your abilities and the method you choose to achieve your goals. If your choice is investment and trading, Enduring Markets can help you achieve success in the shortest possible time. Registering on the platform is the first and important step because after that you will receive a high quality service, the necessary knowledge to develop your skills with the help of reliable and experienced trading advisors!

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UK Becomes Europe’s Largest Crypto Economy Following $233 Billion In Raw Transactions

The crypto market has made incredible progress in recent years throughout the Western world. Despite falling on hard times now, the market continues to bring in and maintain an impressive base of investors.

And with the US alone contributing to a large chunk of the activity that is occurring in the space, many are wondering what makes up the largest crypto economy in Europe. Well, as of recently, that title goes to the UK.

Since its departure from the EU, the UK has slowly become one of the biggest forces in the crypto space. According to a recent report, the country has managed to receive over $233 billion through different transactions performed over the course of a year.

The extremely high value of total transactions made it leave all of the other countries in Europe behind. Better yet, it continued to see this impeccable growth despite the many issues that the market is facing right now.

New Chainalysis Reports Shock Many Analysts

The new chainalysis report to come out shows that the UK has been able to generate the highest crypto transaction value of possibly any other country in Europe. Internationally, this major transaction value puts the UK in 6th place worldwide.

However, to many people’s surprise, the country also managed to climb a few tiers in the crypto adoption index. The report showed that the UK, which was initially at 21 has since moved up to 17.

While most people expected that the country’s traffic was going into traditional crypto protocols, the truth is that most of their traffic was actually going into DeFi. More specifically, almost 20% of the traffic from the country was looking into NFTs.

The report also found that the UK was the only western country to see gains in terms of raw transactional value. It measured a one-year period for the UK, which had managed to make an incredible $233 billion between July 2022 and July 2021.

Being More Open About Taxation and Regulation

One of the most important things that can really set the UK apart from most other countries is its view on taxation and regulation. They believe that as long as they can sensibly tax regulate the crypto market, then investors will not be as displeased.

Making a More Inclusive Space

The UK is focusing on creating a more inclusive space all around for different types of digital currencies. It is especially looking forward to cryptocurrencies and how they can eventually break the mold of traditional finance.

Furthermore, individuals in the UK are also not very trusting of traditional financial institutions, which is often why they are gravitating more toward the crypto market in the first place.

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UK Proposes Amendments To Existing Financial Services Bill To Ban Unauthorized Providers

The UK has recently become the newest country to start taking its crypto regulation seriously. As it becomes the newest country to become more popular among crypto users. In recent years, more and more citizens throughout the country have shown an interest in the crypto market.

According to the newest chainalysis report, the UK has become the 17th most popular city in terms of crypto adoption. Furthermore, it was also the country with the largest volume of crypto transactions in all of Europe. With their total transactions in a year reaching a staggering $233 billion, it would also become the sixth largest country in the world in terms of crypto transactions alone.

Therefore, with it becoming increasingly obvious that crypto is to play a major part in the lives of many UK citizens, the UK Government has decided to take immediate action. More specifically, they are looking to restrict the access that many companies have to advertise, and how it is hurting most investors who have just gotten into the market.

Taking Necessary Action

Recently at a conference in Singapore, a member of the country’s government came to give a short speech. Apparently, a lot of the incredible growth that the crypto market in Singapore was experiencing was a result of exploiting the many people who had no idea how the market worked.

The disingenuous marketing campaigns that they had adopted were making it even more difficult for these investors to escape the alluring sight of the crypto market. All of these firms were making very big promises to many customers about the crypto market without explaining the many risks that come with it as well.

A lot of that disingenuous marketing has managed to make it all the way to the UK.

Introducing New Amendments

The UK government has announced brand new regulations for the crypto market, which will bring down some of the extreme behavior that has persisted throughout the market.

Andrew Griffith, Financial Services and City Minister made various amendments to his own bill that welcomed a lot of the cryptocurrencies, as well as the many stablecoins. Griffith would also put an explanatory note where he explains that the amendments are to clarify that the powers responsible for regulating the market are also capable of working with various other companies to introduce better regulation.

Something Resembling MiCA

Many of the people who were looking forward to the amendments that the UK was bringing were hoping to see something similar to the MiCA that European Union had recently released. Not only did it manage to reign in many companies that were getting out of hand, it was also able to introduce new provisions that would protect all of its citizens.

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Popular Crypto Analyst Is Predicting Major Bitcoin Short Squeeze

Crypto analysts throughout the market can often be hit or miss, and usually comes down to how many times they have been right before. Since the crypto market fluctuates relentlessly, there is no real way of telling when assets will rise or fall.

So, analysts will often go on something as simple as a gut feeling, which often gets them similar results to when they would do research and find out where the market will go next. However, some analysts in the market manage to stand out more than others, simply because their predictions never miss the mark.

While it is not clear where they get these predictions from, the fact that they are able to help investors is often enough to keep them going. And one of these major investors has come around with a big prediction about Bitcoin, saying that investors should be expecting a short squeeze.

Short Squeeze for BTC

Crypto analysts have been making plenty of predictions about the crypto market for some time now, but none of them have necessarily come to light. Some were predicting that Bitcoin could soon break past $22,000, which lands in it a prime position to make a major recovery.

However, while most of the market continues to struggle past a certain point, the analyst believes that Bitcoin is likely headed for a short squeeze as the Dollar index starts losing steam. And when the right time comes, Bitcoin could see some major gains.

The analyst in question here is Kevin Svenson, who has a total of 116,000 followers on Twitter. And it was here where he claimed that Bitcoin could experience an incredible rally as soon as the Dollar Index takes a dip.

Unprecedented Growth of the Dollar Index

One of the most impressive things about the recent financial market is that despite overall negative turnout due to rising inflation rates and interest rates, the US dollar index was doing surprisingly well. So, despite various other currencies falling, the dollar continued to grow compared to that initial price.

However, despite the unprecedented success of the USDX, people are keeping an eye out for when it will start slumping.  the asset slumping means that some of the bigger investors are looking to take their money out and put it into some riskier investments. They essentially want to leave the safety of the US dollar.

And according to various analysts, these investors might just invest their cash into stocks and crypto.

Nothing is Impossible  

While many analysts have made predictions about Bitcoin rallying soon, Svenson’s prediction is the one that makes the most sense. Furthermore, the best thing about it is that when Bitcoin starts to rise, it tends to take the rest of the market up with it.

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Crypto.com Falls From Grace Despite Many Red Flags That It Showed To Investors

The Crypto market is no stranger to various big-budget projects failing significantly in a relatively short span of time. But one particular cryptocurrency exchange that managed to fail significantly recently was Crypto.com.

Crypto.com will go down in history as a prime example of why money is not enough to make it big in the crypto market.  Despite trying their best to buy their way up to the top of the crypto market, one of the key aspects of the business that they spent their money on was marketing.

More specifically, they focused too much on bringing more customers into the market but didn’t give much thought on how to maintain that audience. They were also able to get one of their ads on the Superbowl, making history as the first cryptocurrency exchange to advertise there.

Unfortunately, the firm spread itself too thin and ended up making various bad choices that cost them both their reputation and their customers. With executives laying off their staff for months to new onboarding schemes that never really took off, Crypto.com really did manage to make waves for two completely separate reasons.

Cutting Down its Workforce

The general public will always be more inclined towards the employees of a company, than the company itself. And one of the fastest ways to start burning the goodwill that you have gained is by almost instantly cutting down your workforce.

According to various reports, the company had managed to fire over 2,000 employees from its peak back in 2021. A company firing a large chunk of its workforce is never a good sign, but firing employees at this scale can be even worse.

From a total workforce of over 5,000 people, the firm continued to lay off hundreds of employees.

The Laughably Bad Advertisement

While Crypto.com was one of the first crypto exchanges to have its face on the Super Bowl, the ad itself really could’ve used some extra work. Despite pouring in millions for producing and broadcasting the ad, it became the internet laughingstock in a matter of minutes.

The ad took itself so seriously that it equated buying crypto to space travel or riding a ship down the high seas. It was overindulgent and silly, to the point where SouthPark got away with making an entire episode on it.

Cutting Down Marketing Spending

The final nail in the coffin for the business was the cut to its marketing budget. Crypto.com was famous, or in some cases infamous, for its advertising and marketing, and now it had lost that. The company backed out of various major deals with e-sports teams and various other sports teams.

The company also managed to get in trouble with the UK Advertising Standards Authority for its very questionable marketing choices.

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Bears Have Bitcoin Trend Under Control As They Plan On Bringing It Lower Than $17,622

It was between October 17 and October 18 when the investors increased their buying power to push Bitcoin (BTC) over $19,659.

The particular trading price is the 50-day SMA for Bitcoin and the bulls were expected to push BTC over the particular mark.

Bears Defended 50-day SMA

Despite the strong buying efforts, the bears were not ready to give up on the bulls. Instead, they continued fighting with the bulls and were able to break their confidence.

This led to the strong rally being shredded by the bears and Bitcoin’s price moved into the lower zone. However, it is strongly suggested that with BTC’s price getting closer to $20k, many buyers opted for gains.

Therefore, they might have started selling Bitcoin for gains, bringing the trading price of BTC lower. This led to the trading price of Bitcoin moving in the lower direction.

The selling activity of the bears was able to pull BTC to $19,384 on October 18. This was the 20-day EMA for BTC and the bulls are to support this level with all their power.

Bears to Attempt another Selling Spree

The trend suggests that the bears may again make an attempt to pull the trading price of BTC. This time, they may try, and pull its price lower to $18,843.

If the buying power of the bulls is not enough to fight off the bears, then the bears may take control of the trend. This would allow them to pull the trading price of BTC to a low of $18,125.

As the price of BTC continues to decline, it would trigger another selling spree that may pull BTC’s price to a low of $17,622.

If the bears are able to pull BTC’s price lower than $17,622, they may make it a resistance level and defend it with all their power. This would make it very difficult for the bulls to push through the level.

Bitcoin’s Move to $22,800

On the other hand, if positive factors such as the weakening of the dollar work in favor of Bitcoin, then it may experience a surge.

If the investors start supporting the bullish trend and are able to push it over $20,000, it would go up to $20,500.

The $20,500 level would be a strong resistance zone where the bears may put up a great challenge. To overcome this challenge, more investors would have to support the bullish run.

If more support comes in favor of Bitcoin, then its trading price may rise to a high of $22,800.

If the bulls wish to go beyond this level, they will need to exert more buying pressure to steer the trend in their favor.

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Court Approves FTX US Bid To Buyout Assets Of Troubled Crypto Lender Voyager

The court has assented to FTX US’s bid to buy the distressed assets belonging to beleaguered crypto lender Voyager for the sum of $1.4 billion. The company implores its creditors to vote yes for the deal.

Voyager’s Creditors Still Need To Vote After Court Approval

Voyager’s bankruptcy case is progressing steadily and users might finally retrieve part of their assets soon. Bankruptcy Judge Michael Wiles approved of the Voyager and FTX’s purchase agreement on Thursday.

The crypto lender is now appealing to its creditors to vote yes to the buyout deal by FTX. An earlier report noted that the deal will allow Voyager’s clients 72% of their assets. If the deal goes through, the clients will access the funds on the FTX platform with newly opened accounts.

No final decisions have been made yet and the final purchase price hasn’t been determined. The deal if it goes through will employ a 20-day historical average for the price. This will show how much customers will receive, and they’ll all be paid in different cryptocurrencies— USDC and fiat.

The only clients who will receive these payments are those who voted to transition to the FTX platform. All others will be paid in cash from Voyager’s left over fund.

FTX Disapproves Of VGX Token

The crypto exchange FTX has stated that it doesn’t back or support VGX token but offered a $10 million floor price for the tokens. Voyager explained that it’s looking for a higher bid for the tokens but will accept FTX’s bid if none is found.

Voyager urged clients to vote yes to the plan before the deadline because it offers the best case scenario at the moment.

Creditors will also be provided with information on how to vote through a solicitation packet sent by claims agent Stretto.

Reports also noted that Voyager’s Customers may receive a letter from the creditor committee making them aware of releases in the agreement protecting executives from future legal action.

The court could give a final verdict by mid-December after the creditors’ vote. This will be followed by affected customers finally accessing their funds on the FTX platform.

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CNN Is Going To Shut Down Its Marketplace For Non-Fungible Tokens

CNN, a multimedia outlet based in the United States has made an official announcement related to its marketplace for non-fungible tokens.

CNN Shutting down NFT Marketplace

The multimedia outlet officials took to Twitter to make an official announcement confirming they are shutting down the marketplace for non-fungible tokens.

This is alarming news both for the non-fungible token as well as the entire cryptocurrency industry.

For the NFT sector, it indicates that the non-fungible token industry is losing its limelight. On the other hand, it indicates that the cryptocurrency industry is losing its adoption in the mainstream sector.

It was only a few months back CNN launched a new NFT marketplace for the cryptocurrency community. CNN had attempted to launch its own collection for NFTs that it dubbed “Vault by CNN”.

In the collection, the users could find iconic news moments in the form of tokens that depicted the 41-year history of CNN. The users could interact with the platform to display, store, and purchase NFTs.

Within four months of launching the NFT marketplace, CNN announced that it is shutting it down.

6-Week Experiment

While making the announcement via Twitter, CNN officials revealed they had launched the NFT marketplace as a “6-week experiment”.

They had decided that it was going to be their first attempt at Web3 technology. They wanted to explore the Web3 sector and now they have experienced what it is like interacting with users in the particular world.

CNN officials revealed that they had already planned that they would launch the marketplace as an experiment. Therefore, they would not maintain or further develop the particular community.

The team also confirmed that they had the Flow blockchain mint the NFTs for their own collection. However, CNN claimed that the collection was under their ownership and that they hold its copyrights.

Therefore, the users will not be able to access the collection through the Flow blockchain.

Contributions from Developers

One of the staff members at CNN Jason revealed that the purpose of launching the NFT collection was to bring in developers to their platform.

It was expected that the developers would participate in the marketplace by adding new features to the collections offered by CNN.

This would allow the developers to receive 20% of the non-fungible tokens’ original mint price. The users would receive them in the form of FLOW tokens or stablecoins.

These digital assets would be deposited in the wallets of the NFT collectors and developers alike.

Although CNN  has tried hiding its real disappointment the fact stays that the NFT industry is also feeling a great impact due to the crypto winter.

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ArgoTrade Review – Is this a legit broker?

ArgoTrade Review

ArgoTrade offers CFD trading services, in a time when these types of derivatives have become extremely popular. Regulated by FSA, this brand ensures high security for your funds. At first glance, this broker seems to be a promising solution, especially if you are interested in popular markets and crypto.

Moreover, trading conditions are diverse. We took the time to review the features offered by ArgoTrade in detail, and this review may come of use to you, if professional trading features are what you’ve been searching for.

Source: https://www.argotrade.com/en

Why choose ArgoTrade?

• A wide range of markets to trade – an account with ArgoTrade opens up access to over 2,100 CFDs, ranging from FX, indices, stocks, commodities, bonds, crypto, and ETFs. The broker has a global outreach, so traders with different goals can always find something that meet their needs.
• Competitive platforms – MetaTrader 4 is just one of the platforms available, offering a stable performance, on top of a variety of trading tools. WebTrader, on the other hand, is a proprietary solution, suited for experts and also for beginners who are just learning how to trade online.

Source: https://www.argotrade.com/en

• Diverse account types – ArgoTrade claims to have an account type to meet all your requirements. With 5 account types at hand, traders with different levels of expertise can find what they want, proportional to the capital they are able to allocate. The Micro is the cheapest, while the Exclusive account is at the top of the ladder.
• Useful resources – this broker doesn’t just enable access to stable trading conditions, but also stands by customers’ side and helps them when they are in need, via various trading resources: support from a dedicated account manager, premium daily analysis, the popular Trading Central, an economic calendar, and much more.
• Professional support – an ArgoTrade representative can be reached via email, phone, and even WhatsApp. This is an international trading brand and is able to interact with people from all around the world.
• Regulation – speaking of regulatory background, ArgoTrade is authorized and regulated by the Seychelles Financial Services Authority (FSA), with registration number 8413415-1. It cannot offer trading services for users in several countries where such activity is prohibited, such as the United States and some members of the European Union.
• Secure funding – making a deposit in an ArgoTrade account is a secure process, because the broker covers only reliable payment solutions, including Skrill, Neteller, bank wires, credit cards, and debit cards.

Source: https://www.argotrade.com/en

Summary

Based on the details available about ArgoTrade, there should be no question regarding its reliability. This is a licensed CFD broker that can provide you with all the necessary tools to engage in the financial markets successfully. On top of the popular markets, crypto trading is a feature that stands out, mainly because you can choose from some of the top tokens out there today. Feel free to read more details on the broker’s website.

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Chinese Billionaire Optimistic About Country’s Crypto Policy And Upcoming Changes

Justin Sun, a Chinese billionaire and crypto entrepreneur, expects that China will change its crypto policies after implementing a ban last year.

In a recent interview with Bloomberg, the Tron blockchain founder explains that China could see changes in the crypto policy. Moreover, these changes could occur as early as next month.

In the interview, he says that China’s economic and industrial policies could see major changes within the next month or so. In his opinion, the new leadership will definitely implement crypto-friendly policies.

Justin Sun Joins Huobi Global Advisory Board

Just recently, Sun became part of the Huobi Global advisory board. While the company was once the top-ranking crypto exchange in China, it has moved operations overseas since the crypto ban.

Nevertheless, Sun would like the company to return once China changes its stance on cryptocurrencies. He also explains that he’s one of the top holders of HT, which is the crypto exchange’s native token.

In the interview, he elaborated that he owns millions of HT tokens, some of which he owned before joining the Huobi Global advisory board.

Elaborating on how he’s been using and collecting HT on its own since it launched in 2013, he sees himself as one of the major HT holders.

Huobi’s Native Token Surges by 70% in the Past Month

According to reports by CryptoSlate, Huobi Global’s native token, HT, gained a 70 percent increase in price over the last month.

In contrast, the rest of the crypto market has been in a slump, considering how Bitcoin remains under the $20,000 level, while Ethereum struggles to regain its value.

Analysts say that this could be the result of Justin Sun announcing that he’s part of the Huobi Global advisory board.

Based on data from CryptoSlate, HT was trading between $4.1 and $4.5 toll on October 10. As soon as news broke out that Sun joined the platform as an advisor, the token’s price grew by 23.8 percent, reaching $5.2.

Over the past week, HT rallied over 53.94 percent based on CoinMarketCap data. Now trading at $7.60, the token has reached a four-month high.

Huobi Burns 411,000 Tokens in September

In its latest monthly report, the crypto exchange says that it burned 411,000 tokens in September. At the time, the tokens held a value of 1.86 million USDT.

On October 15, the total number of HT burned increased to 295.51 million. Speaking to the Huobi staff, Justin Sun explained that rather than releasing new tokens, the platform’s main focus is to strengthen its position in the virtual asset industry.

And based on how he owns millions of HT tokens, it shows that he does believe in the platform’s future to become a crypto giant in the near future.

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BitGalactica Review – Is BitGalactica Scam or a Legit Crypto Broker?

BitGalactica Review

BitGalactica is a new brokerage platform for traders seeking a dependable place to deal. This website includes a simple user interface and various features that make it suitable for novices. It also includes a fantastic selection of tools and traders from all around the world. In this BitGalactica review, you will find unique information about this newly launched brokerage platform.

Trading Platform

Trading through BitGalactica is user-friendly and intuitive. You can set up your account within five minutes and start trading within a few seconds. The platform offers several tools and installations on the forum so that you can trade confidently on any device. Furthermore, the platform is compatible with PCs, Macs, and desktop browsers. The smartphone app not only supports mobile trading but provides a smooth trading experience.

Trading Products 

As a trader, you want to know where to put your money and this is where BitGalactica comes in. With BitGalactica, you can invest in a wide range of trading products—from commodities like oil, rubber, metal, gold, and wheat to cryptocurrencies and forex. With just a single click, you can use BitGalactica’s robust platform to trade these assets directly from your mobile device or desktop computer.

With the BitGalactica mobile app and online platform, you can make real-time trades on the go—right from your phone or computer anytime. That way, when the market is volatile, or a downswing starts to occur, you will know exactly what to do trade.

Trading Tools

The brokerage platform has a built-in trading bot that all users can use. The bot is programmed to use technical indicators based on the current market conditions, so it will always be on the money for you. BitGalactica has a variety of tools to help clients make the most of their trading experience.

Economic calendars and graphs are available for market analysis, and some calculators can be used to do back testing on different strategies. BitGalactica has several tools that help clients, including news alerts and charts for market analysis.

Privacy 

BitGalactica trading platform policy on data privacy is a prime priority for this forum. Traders on this trading forum should not get worried about their data because it is encrypted, and all their sensitive information is safe and secure. Hackers, fraudsters, and competitors can’t leave any trace of the actual trading information stored with this platform.

Customers’ information is essential to this broker. BitGalactica protects customer data by using the latest technology to encrypt customer data. This trading platform will not give this information to others.

Customer Care Center

BitGalactica is a famous name in e-commerce. They provide excellent customer support to clients. They are available to answer queries 24×7 and 365 days a year. Online business is full of hurdles for newbies. So, they take care of every step to make your online journey a great success through their professional assistance and support.

BitGalactica provides great customer service. They also interact with clients in various ways, including phone calls, live chat, and email. Their sales team is available to help out if needed. They make it easy for new businesses and provide you with the best guidance.

Traders’ Education

The crypto market is a volatile environment, which means that traders have to be prepared. At the present time, many people are new to cryptocurrencies, but they don’t know how to trade them. They will lose capital if they are not well educated, and money is more essential than anything else.

They can provide you with the best cryptocurrency education possible by providing you with our priority markets knowledge base, where you can find all the information regarding trading in crypto. You will also get to know your strengths and weaknesses so that you can improve yourself for future trading sessions.

Final Remarks

BitGalactica is a great platform that makes it easy to trade cryptocurrencies. They host over 50 different assets and provide a simple yet reliable trading interface. On top of all plus points, it is safe. Hence, I strongly recommend this broker.

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Shark Tank Superstar Investor Believes That Specific Event Will Trigger Crypto Bull Market

It goes without saying that the crypto market continues to struggle under the current circumstances of the international market. While various financial markets started seeing major sell-offs, the crypto market was the first one to be hit by this, as no one wanted to take on riskier investments.

After losing nearly 60% of the total market cap and all major cryptocurrencies falling by a significant degree, the market as a whole is at its lowest point in years.

Despite various high-profile partnerships still happening throughout the market right now, the crypto market still needs a major bullish push to bring plenty of investors into the market.

And for Shark Tank Personality Mr. Wonderful, that major push will only come after a specific event. More specifically, Kevin O’Leary is saying that after a specific stablecoin bill manages to pass, the market could break past the 22,000 trading range.

Bitcoin is Still Stagnating

For possibly weeks now, Bitcoin has only stagnated throughout the market, unable to push past the $20,000 mark. Despite various analysts saying that Bitcoin will take its time to bounce back, they cannot be certain of a specific time.

However, with the insight that O’Leary is bringing to the table, this could be a major game changer for most investors who are still looking for that major break. Because if Bitcoin manages to make any major moves in the next few days or weeks, it leaves ripples throughout the market and will allow most investors to look forward to what the market has to offer next.

A Major Prediction from Mr. Wonderful

Throughout his years of experience in the investing market, O’Leary knows enough about various markets that he can predict when a big change is coming. He can tell when the match is going to strike, and according to his latest prediction, the market will really start to move up after a stable coin bill passes.

During his brief appearance at the Crypto Banter, a YouTube channel focusing on DeFi and crypto, he made a major prediction. According to O’Leary, congress is looking to pass the Stablecoin Transparency Act after November 8.

This also happens to be the same date as the midterm elections, so all of the stars are aligning for cryptocurrencies as a whole.

Details of the Bill

O’Leary has offered further insight into the bill and what it means for everyone who is going to be looking to invest in crypto. The gist of the bill, as Mr. Wonderful puts it, is that the US dollar becomes a worldwide default payment system, which everyone can support.

So as soon as the bill makes it past the congress floor, people will be a lot more open to the idea of investing in cryptocurrencies.

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BitMEX Founder Lays Down Advice On How To Find The Next Biggest Altcoin

As the crypto market goes through a rebirth of sorts, this is the right time for altcoins to make their comeback. As all of the major cryptocurrencies are either falling or stagnating, altcoins can finally compete on fairgrounds and bring in plenty of investors.

But when it comes to finding the next big altcoin that is going to get you rich, it can be close to impossible. The worst part about making the wrong investment is that it can eventually lead you down a path of not getting what you really want.

Fortunately, If there is one thing that the crypto market is, it is supportive, which is why the founder of BitMEX has offered his advice on how to find the next big altcoin. Through his years of experience in the crypto market, he has a keen eye for opportunities that could grow into something special.

Looking at Survivorship Bias

In an interview, BitMEX founder really went into detail about all of the ways that people can really start making smarter investments in an altcoin. More specifically, he is teaching people how to look out for the most profitable altcoin that people can find.

The first thing that he emphasizes is looking at survivability bias and trying to find out if an altcoin will survive. Remember, thinking that an altcoin will just burst through the scene and will instantly reach its potential is wishful thinking.

Instead, you should first think about if an altcoin will likely survive in the current climate or not. This is a very important thing to decide on your own since you need to look at the charts and data to see if you can truly make it.

Trying to Make the Rebound

When looking at the profitability of an altcoin, you really don’t want to look at if it can reach its true or previous potential. Suppose a token started at 100 and dropped down to 0. If you buy at 0 and it increases by 10x, that’s not a bad pull.

Sure, it is nowhere near what it was originally, but that doesn’t mean that you don’t make a hefty profit. So if things go well, you can easily rack up impressive profits from your altcoins. And even if they can look a little small by comparison, you can build your way up from there.

It’s Really Impossible to Know

Despite having years of experience in the field, BitMEX CEO still can’t tell if this is about as low as it goes for cryptocurrencies. But even if you can’t find out when certain coins are going to the moon, you can find which ones will. So it usually comes down to the numbers and patience. As long as investors have both, Hayes thinks that they’re golden.

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Bitcoin Plummets Down To $18,000 As Crypto Stocks Take A Hit

This earnings season has been rough for all sorts of equities, but this is especially the case for crypto stocks.

That’s because the Consumer Price Index report that came out on Thursday showed that inflation would reach a four-decade high of 6.6 percent in September.

Meanwhile, headline inflation topped forecasts by peaking at 8.2 percent, which is higher than Wall Street’s expectations of 8.1 percent.

Latest Inflation Data In Consumer Price Index Sends Bitcoin Tumbling

The inflation data from the Thursday report sent Bitcoin prices tumbling down to $18,100, which is close to its previous yearly low of $17,600.

As of now, the price has gone up by a modest $300. Last month, it fell by around 5 percent within an hour after the August inflation report was released.

In May, prices dropped by around 7 percent after the April consumer index report came out. Since then, the top-ranking crypto has somewhat recovered and is struggling to maintain an $18,000 level since the start of July.

Moreover, most US stock market averages dipped by over 2 percent. Fortunately, they’re bouncing back, with stocks like the S&P 500 closing the gap to 1 percent.

Mining stocks such as Core Scientific, Marathon Digital, and Riot Blockchain are trading lower by 7 percent.

Meanwhile, Argo Blockchain in the UK underperformed compared to the rest of the sector, going down by 16.5 percent. This comes after it made the decision to raise capital last week.

Analyst Downgrades Argo Recommendation From Buy To Neutral

In a research note dated October 12, Darren Aftahi, a Roth Capital analyst, downgraded his Argo recommendation from ‘buy’ to ‘neutral’ with a new $2 price target.

Aftahi argues that despite Argo taking steps to control its balance sheet, growth will eventually be limited. As a result, the mining company will lose its market share to competitors.

In addition, falling Bitcoin prices and increasing power costs aren’t doing Argo’s margins any favors. MicroStrategy holds 130,000 BTC worth $2.4 billion and fell by 6.7 percent, while popular crypto exchange Coinbase is down by 11.5 percent.

Thursday Report Shows Inflation Is Becoming More Difficult to Control

Figures in the latest consumer price index report show that inflation is becoming harder to control. This is despite the numerous interest rate hikes by the Federal Reserve that caused crypto prices and stocks to drop.

According to a partner of Dexterity Capital, Michael Safai, such an inflation reading is terrible news for traders. Nevertheless, he explains that knowing the outlook will be less optimistic than what everyone hoped for will prove beneficial.

It will allow some traders to pick up bargains, while others try to mitigate their losses, causing volumes to pick up.

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Just When Overall Crypto Market Is Facing A Downtrend, Huobi Token Has Recorded A Rally

It is no longer a secret that the entire cryptocurrency market has been moving towards a great demise in recent months.

Despite the efforts, crypto firms and institutional adoptions have failed to move the crypto-verse toward a recovery.

Huobi Token is Performing Well

However, there is one particular token that has been demonstrating a strong performance against all odds. The token launched by Huobi Global, a cryptocurrency exchange seems to be recording a rally.

According to data, the trading price of the Huobi Token (HT) has recorded a 12% surge. The digital asset has recorded a surge in value in the past 24 hours.

The recent rally achieved by the Huobi Token has moved it into the list of a handful of cryptocurrencies demonstrating strong gains despite the market downtrend.

Running Week Performance

It has been a remarkable week for the Huobi Token investors to see that the token has demonstrated an even better performance in the running week.

The price chart shows that the trading price of HT has recorded more than an 80% surge in the running week. Just when the week began, HT started to demonstrate strong performance.

The performance demonstrated by HT in the running week is the best it has delivered since February 2021.

Huobi Global Helped HT

Huobi Global, the exchange behind the issuance of the Huobi Token is the very reason that has helped form a great rally surrounding the token.

Just recently, the Huobi Global exchange made an announcement about launching a new trading feature. The exchange announced that the users would be able to access Starfish Finance (SEAN) spot trading.

This worked as a lucky charm for the Huobi Token sending a frenzy throughout the HT community. The investors have started buying the token on a large scale, thus, a strong rally.

About Capital Management’s Involvement 

A strong rally followed by a strong trading volume was also the result of the strong interest of the investors in the latest reports.

The reason behind HT’s strong weekly gains is based on the announcement made by About Capital Management.

The investment firm based in Hong Kong made an announcement on October 8 that it was planning to buy Huobi Global.

This came as a huge surprise for the entire HT community who were aiming to cash in on the opportunity and generate more gains from the latest reports.

Justin Sun’s Remarks

The founder of About Capital as well as the Tron blockchain project, Justin Sun praised the outstanding performance of HT.

He stated that they are very excited that they will be able to buy Huobi Global and bring more users to the exchange.

Their aim is to introduce many projects and make Huobi Global an even larger brand. This way, more adoption would come HT’s way which would eventually increase its demand in the global market.

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Flasko Likely To Become A Major Cryptocurrency As Both Cardano And Shiba Inu Continue To Plummet

Shiba Inu and Cardano continue to remain some of the best cryptocurrencies in the market to this day. They are consistently in the top ten of cryptocurrencies in the market, with Shiba Inu also becoming the biggest meme cryptocurrency in the entire market.

But as both of these cryptocurrencies continue to plummet to new lows, many are speculating about who will come up and take the place of these two old and reliable cryptocurrencies. And for the most part, the market has spoken, as the newest fan favorite cryptocurrency happens to be Flasko.

Due to the current downward trend of the entire market, Shiba Inu and Cardano have both had a hard time making it by. Cardano has especially seen its prices drop, as the company continues to struggle against the many promising projects that are coming along right now.

Shiba Inu Less Likely to Reach its All Time Peak

Shiba Inu remains one of the biggest meme tokens in the market right now and happens to be one of the most lucrative coins for the most part. But as various cryptocurrencies start to enter the market, it is becoming very obvious that Shiba Inu will not be able to reach its real price any time soon. If anything its prices are currently plummeting, and all of the investors are struggling as a result.

While Shiba Inu did start out as a meme coin in 2020, it was able to grow into a very widely respected cryptocurrency that has garnered respect from various veterans of the industry. The fact that it started out as a meme coin was not even a secret, as some of its biggest whales, which included the likes of Elon Musk, called it a meme coin with pride.

While Shiba Inu did show some impressive growth throughout its early days, its most recent performance has been disappointing, to say the least.

Cardano Investors are not holding on

Cardano was another major cryptocurrency that continued to struggle despite it playing all of the right cards. For the most part, Cardano did not make any foolish decisions and was rewarding all of its investors very well.

However, as the entire market hit a slump, one of the first cryptocurrencies to really struggle as a result was Cardano. And as this cryptocurrency continues to plummet without showing any signs of recovery, investors are losing faith.

Flasko is One of the More Impressive Investment Opportunities

Apart from a wide range of investment opportunities, it is becoming very obvious that Flasko is the current Golden Boy of the market. Not only is it offering better returns to investors, but it is also offering better rewards to the people who decide to stay.

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Hollywood Actor Anthony Hopkins’ First NFT Collection Sold Out in Seven Minutes

Apart from being one of the best actors, Oscar awards winner Anthony Hopkins has created another history in the non-fungible tokens industry. Anthony released his first NFT, called “The Eternal Collection,” on the NFT marketplace OpenSea, and they sold out within seven minutes. The NFT collection contains more than 1,000 original artworks based on Anthony Hopkin’s long career in the Hollywood industry.

The art series contains pieces from his performances in movies like Silence of the Lambs, which helped him win an Oscar award. He played the role of Hannibal Lecter in the movie. He also achieved fame for his role in the Westworld TV series. The artworks had titles on them like “The Lover,” “The Jester,” and “The Eternal.”

According to the art marketing team, these NFTs represent “an interpretation of the various characters Sir Anthony Hopkins portrayed” throughout his movie career. However, it’s important to note that the art series was created in collaboration with Orange Comet Inc., a Los Angeles-based Web3 agency. Hollywood producer Dave Broome is a co-founder of Orange Comet Inc., together with former NFL player Kurt Warner and Gloria and Emilio Estefan (the Cuban-American couple musicians).

But the release of the NFT collection was delayed for more than 45 minutes because of the high demand from users who wanted to purchase the art. Apart from being an owner of the artworks, buyers will also have the opportunity to get real-life treats with the actor. Some of these include getting autographed physical prints of the NFTs, a one-on-one meeting with him, and audio of Anthony Hopkins revealing the meaning of each artwork.

Hopkins’ History With Art

However, it is not the first time the Oscar winner is going into the art industry. According to him, he began painting in the late 1940s and had an art exhibition in 2015 at Hawaii’s Harte International Galleries. He has also organized exhibitions for artworks like semi-abstract portraits and landscapes in Las Vegas, London, Edinburg, and New York City.

Hopkins claimed the digital collections were inspired by English painter Lucian Freud and French cubist Francis Picabia. Although “The Eternal Collections” are his debut NFT collection, he has been involved in the NFT market.  Anthony Hopkins was among the actors featured in a 2021 movie directed by Rick Dugdale and released through the NFT platform Vuele.

This will likely be the last time he will get involved in the NFT market as the innovation keeps expanding. Reacting to the launch, he said: “Going into the non-fungible tokens (NFTs) world is like traveling to the moon because of the limitless dimensions of technology and art.”

However, some celebrities have been disappointed in the NFT market because of the low sales from their NFT collections. This shows that the market is not promised, no matter your level of popularity.

Anton_Ivanov / Shutterstock.com

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A Major Cryptocurrency Exchange Has Started Feeling Pressure From Crypto Market Downturn

Crypto.com, one of the largest cryptocurrency exchanges has also started showing signs of being impacted by the crypto market downturn.

The exchange has recently made a few decisions that would impact the reputation of cryptocurrencies both directly and indirectly.

The reports reveal that Crypto.com has started to scale down several of the sponsorship deals it had formed with multiple sports entities.

Crypto.com’s Goal behind Sponsorship Deals

In the past couple of years, the exchange partnered with multiple sports companies and organizations in order to form sponsorship contracts.

Crypto.com’s goal behind these deals was to gain as much recognition as possible. Sports are a major source of advertising a product or a company to millions of fans and viewers all over the world.

The exchange wanted to expose itself to the entire world. It has been advertising itself through multiple sponsorship deals be it a football t-shirt, an F1 car, or an entire football stadium.

By putting its logo through multiple mediums, the exchange created curiosity among the viewers not only in its services but also for cryptocurrencies.

It was becoming one of the reasons to bring the masses to the crypto sector, creating more awareness about crypto-blockchain in the mainstream sector.

Crypto.com Scales down its Deals

Unfortunately, not even Crypto.com, a major cryptocurrency exchange was able to save itself from the great crypto market downturn.

The crypto winter has been prolonged and is considered the longest downfall the industry has witnessed since 2020. The crypto downfall began in early 2022 and is yet to be fixed.

The cryptocurrency exchange recently announced that it had to lay off many of its employees. The reason was indeed the market downturn that forced the exchange to cut down its costs and save up as much money as possible.

The exchange has been trying to deal with the current downfall as best as it can but as the downfall continues, it has to make harsh decisions to survive.

Cancellation of Sponsorship Agreements

Just recently, one of the reporting firms known as Ad Age reported that Crypto.com had to cut down multiple sponsorship deals with sports companies.

Some of the major cuts with organizations include Twitch Rivals, an eSports tournament host, Qatar’s FIFA World Cup 2022, and Angel City Football Club of Los Angeles.

The firm has revealed that as per the inside sources, Crypto.com had been planning to do this since May. It is now that the company has proceeded with the deal cancellations after giving much thought to the entire process.

Crypto.com even backed out of the UEFA Champions League’s sponsorship deal that was worth $500 million.

In the future, the exchange may also back out from deals such as Formula 1 and the Australia Football League.

With the number of deals Crypto.com has cut, it is possible it may get sued by the partners and may end up getting bankrupt.

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