• CryptoUnity is a Slovenian start-up that is building a beginner-focused cryptocurrency exchange.
• The exchange seeks to close the gap for beginners in the crypto ecosystem by providing them with user-friendly interfaces and comprehensive educational resources.
• CUT is the utility token on CryptoUnity platform that provides holders with many different benefits and utility cases, including lower fees, rewards, and access to presales.
CryptoUnity Exchange: Targeting Beginners in the Crypto Ecosystem
CryptoUnity is a Slovenian start-up that is building a beginner-focused cryptocurrency exchange. The exchange seeks to close the gap for beginners in the crypto ecosystem by providing them with user-friendly interfaces and comprehensive educational resources.
User Safety & Transparency
In addition to its user-friendly nature, CryptoUnity also focuses on safety aspect of crypto transactions. The platform implements cold wallet storage with an NFC card and has passed audits from QuilAudits and CertiK (receiving CertiK KYC Gold badge).
CUT Token Benefits
CUT is the utility token that powers the CryptoUnity ecosystem with a total supply of one billion tokens. Holders of CUT can benefit from lower fees and other loyalty programs, access further education, secure spots in other legitimate ICO presales, as well as enjoy other advantages such as holder rewards and giveaways.
Partnership With Lenovo
CryptoUnity has partnered up with Lenovo – one of leading tech companies in the world – which serves as positive development for the company.
.The project’s user friendly interface combined with its focus on security makes it an ideal choice for beginners navigating their way into crypto space.
- Ark Invest purchased $20.5 million worth of Coinbase shares on Thursday
- Cathie Wood’s Ark Invest remains bullish on Coinbase despite the stock dropping by more than 10% since the beginning of March.
- Ark Invest has added 265,000 Robinhood shares and 301,437 Coinbase shares to its portfolios.
Ark Invest Purchases $20.5M in Coinbase Shares
On Thursday, Cathie Wood’s Ark Investment Management purchased 301,347 Coinbase shares valued at $20.5 million USD. The purchase came just one day after an earlier purchase of Coinbase shares totaling $30 million USD in February. Despite a market correction that has seen the price of COIN (NASDAQ:COIN) drop 7% since the start of March, Ark Investment Management remains bullish on the cryptocurrency exchange.
Additional Robinhood Shares Purchased
In addition to the 301,347 Coinbase shares, Ark also purchased 52,525 additional shares through its Next Generation Internet portfolio as well as 265,000 Robinhood shares valued at approximately $2.5 million USD through its Next Generation Internet ETF.
Crypto Market Meltdown and Accusations Against Exchanges
The current crypto market meltdown has caused skepticism amongst many investors towards crypto-related firms; however Cathie Woods‘ bullish stance on Coinbase could be seen as a vote of confidence for the exchange. Several other cryptocurrency exchanges have been accused by regulatory authorities in recent months; yet Coinbase appears to remain relatively unscathed and even gained favor with the US government which recently moved BTC worth over $200 million onto its platform.
Collapse Of Crypto-Friendly Bank Silvergate And Interest Rate Increases In The US
The collapse of crypto-friendly bank Silvergate and shockwaves left from Silicon Valley Bank selling assets and stocks to raise funds both contribute further to a negative market sentiment this week along with fear regarding potential prolonged interest rate increases in the US economy.
Despite current market conditions, Ark Investments continues to maintain their bullish stance on cryptocurrency exchanges such as Coinbase Global Inc (NASDAQ:COIN). Furthermore, they have invested heavily in both Coinbase and Robinhood this week with purchases valued at over $22 million USD between them both combined.
• The Crypto market is bouncing back after a bearish 2022, and investors are looking for the next big thing to maximize their profits.
• Metacade is a new project aiming to revolutionize gaming by creating a virtual P2E arcade.
• The presale has raised an impressive $8.3m in just 14 weeks, with interest continuing to grow as the project prepares to launch.
Crypto Market Recovering After Bearish 2022
The crypto market saw a tough decline in 2022, but experts are now optimistic that it’s on its way back up. Investors have been looking for the next big thing to maximize their returns and drive growth in the sector.
Metacade Revolutionizing Gaming
A new disruptive GameFi project called Metacade is stealing the investment limelight. Its whitepaper released in 2022 laid out plans to create a virtual P2E arcade that would be at the heart of this movement, which analysts predict will experience explosive growth over the coming years.
Presale Raising Impressive Amounts
The presale has seen huge success and raised an astonishing $8.3m so far in just 14 weeks, with no sign of slowing down yet as it moves into stage 5 of its funding process.
Metacade Aiming To Dominate GameFi Market
By setting up their one-stop gaming destination enabling gamers to make the most out of their favorite hobby while also earning an income, Metacade looks well-placed to dominate this sector for years to come thanks to its strong community focus and lucrative rewards program.
Overall, Metacade looks set for big things over the next few years as it takes steps towards revolutionizing gaming and becoming a frontrunner in this competitive market sector. With such positive reception from investors during its presale period, there’s plenty of cause for optimism about what lies ahead for those who get involved early on in this exciting venture!
• Block Inc. reported a 7% decline in its fourth quarter bitcoin revenue.
• Baird’s analyst David Koning said that Bitcoin doesn’t matter much at the current stock price of $70.
• The company reported a 25% year-on-year decline related to the slump in bitcoin price and a $9 million impairment charge in Q4.
Block Reports Hit to BTC Revenue
Block Inc (NYSE: SQ) reported a 7.0% decline in its fourth quarter bitcoin revenue, with a 25% year-on-year decline related to the slump in bitcoin price. The San Francisco-based financial technology multinational also revealed a $9 million impairment charge related to its BTC investment in Q4 versus $2 million only from the prior quarter.
Baird Analyst’s Outlook on Stock
David Koning, senior analyst at Baird, shared his outlook on Block stock with CNBC’s „Closing Bell: Overtime“. He said that Bitcoin mattered when Block was at $250 per share, but at the current stock price of $70 it doesn’t matter much as it accounts for 4% of gross profit. He added that Block’s Cash App crushed expectations and January and February trends have been accelerating nicely despite Street’s modelling deceleration for Q1. His price target of $85 per share suggests about 15% upside on where this stock closed today.
Full Year Forecast
For the full year, Block Inc is now calling for $1.30 billion adjusted EBITDA and a gross profit forecast of 25%, which is up from 22% from the recent quarter. Shares of Block are trading up today despite posting lower than expected results due to former Twitter CEO Jack Dorsey’s firm reporting overall quarterly revenue slightly above consensus estimates.
Impacts on Cryptocurrency Market
The overall hit to bitcoin revenue could be seen as an indicator for how cryptocurrencies will be performing over the next few quarters – if prices remain low or continue to drop then companies may start taking further impairments charges as they adjust their portfolios accordingly..
This could have potential implications on cryptocurrency markets as investors may become wary of investing right now due to concerns around further losses which could drive down prices even further if enough investors decide to sell off their holdings over time..
Overall, while Block appears to still be doing well despite the hit to its bitcoin revenue, there is still some uncertainty surrounding cryptocurrency markets given their volatility and potential impacts it may have on future earnings reports released by other companies dealing in digital assets. Investors should keep an eye out for any further news regarding these issues before making any decisions about investing or selling off their holdings until more clarity has been established around this topic going forward
• The US Securities and Exchange Commission (SEC) has charged Do Kwon, the founder of Terraform Labs, with defrauding investors.
• Kwon allegedly cashed out a massive $100 million worth of Bitcoin through a bank in Switzerland.
• SEC alleges Kwon and his company orchestrated a scheme to mislead investors and cause devastating losses for them.
SEC Charges Do Kwon with Defrauding Investors
The United States Securities and Exchange Commission (SEC) has announced charges against Do Kwon, the founder of Terraform Labs. The regulator’s complaint is that Kwon and his company orchestrated a scheme that saw him defraud investors.
Do Kwon Cashed Out $100 Million Worth of Bitcoin
Do Kwon reportedly held 10,000 BTC in a cold wallet which he cashed out through an unnamed banking provider in Switzerland. According to Bloomberg, the transfers began in June 2022 and were part of more than 10,000 BTC stashed away by Do Kwon through the Swiss-based bank.
SEC Alleges Fraudulent Activity by Do Kwon
The SEC allege that fraudulent activities had taken place up until the date they filed their official complaint against Do Kwon and his firm. Their charges point to a plot to mislead investors, with the collapse of the then $40 billion LUNA ecosystem impacting the wider crypto market amid an intensifying crypto winter.
Fugitive Status For Do Kwom
Unlike Sam Bankman-Fried who was arrested swiftly following the collapse of his firms FTX and Alameda Research, Do Kwon continues to evade capture as he remains on the run from authorities.
Do Kwom’s alleged actions have caused devastating losses for investors while also having an impact on cryptocurrency markets as well as general investor confidence within this space. It will be interesting to see how this case progresses over time as it could set precedents for future similar cases involving cryptocurrency fraudsters.
– Tether has published its latest attestation report for the fourth quarter of 2022, showing a net profit of $700 million.
– The reported profit is in addition to the company’s reserves and was attested by BDO.
– Tether CTO Paolo Ardoino commented that the company has proven its stability with over $21 billion dollars in redemptions and issuing over $10 billion of USDT.
Tether Reports Net Profit in Q4 2022
Stablecoin issuer Tether published its latest attestation report on Thursday, February 9th, revealing a net profit of $700 million in the fourth quarter of 2022. This is despite the ongoing bear market and is added to the company’s reserves. The December report was attested by accounting firm BDO and revealed that Tether’s consolidated assets exceeded its liabilities as of Dec. 31, 2022. Furthermore, consolidated total assets amounted to at least $67.04 billion while total liabilities amounted to $66.08 billion, thus reflecting excess reserves of at least $960 million.
Part Of Shareholder Equity
The reported profit is part of shareholder equity according to Tether which essentially means it’s additional capital sitting in the company to further strengthen it. This is also the first time that stablecoin issuer has disclosed such figures without revealing how it made any profits from them.
Statement From CTO Paolo Ardoino
In a statement regarding this latest cryptocurrency news, Tether CTO Paolo Ardoino said; “Tether once again proved its stability in the troubled year of 2022. Not only were we able to smoothly execute over $21 billion dollars in redemptions during the chaotic events of the year, but Tether has, on the other side, issued over $10 billion of USDT, an indication of continued organic growth and adoption of Tether.“
No More Secured Loans From Reserves
This news comes barely two months after Tether pledged to stop issuing secured loans from its reserves going forward as part of efforts towards transparency and reassuring customers about their funds being safe with them all times..
Overall these reports reveal that despite bear markets affecting cryptocurrency trading as a whole, companies like Tether remain resilient and continue to generate profits even under such conditions due to responsible management and commitment towards transparency when dealing with customer funds
• Indonesia is set to launch a national crypto exchange in June 2023.
• The Trade Ministry has identified five active and licensed exchanges from a list of 25.
• The omnibus law will provide regulatory oversight of the crypto exchange.
Indonesia to Unveil National Crypto Exchange by June
Timeline for Launch
Indonesia initially planned to launch the crypto bourse before the end of 2022 and now aims to have it ready by June 2023. This timeline comes after new developments (authorities suspended the licensing of new exchanges) and other official delays forced the relevant government bodies working on the project to push back the launch date.
Omnibus Law Approval
In December, lawmakers in Indonesia’s House of Representatives passed the Financial Sector Development and Reinforcement Bill, also known as the omnibus law. The bill is now Indonesia’s primary legal reference for its broader financial services industry, covering areas such as regulatory oversight of crypto exchanges.
A review of digital asset exchanges earmarked to join the national crypto exchange is ongoing, with five active registered exchanges identified from a list of 25 so far. Trade Minister Zulkifli Hasan emphasized that rushing the project could lead to public harm if those still learning about crypto trading are not properly protected.
Growing Crypto Landscape in Indonesia
Indonesia is one of several countries with fast-growing cryptocurrency communities, many relying on local platforms for digital asset trading which falls under Commodity Futures Trading Regulatory Agency jurisdiction in this country.
The Indonesian government is currently working towards launching its national crypto exchange by June 2023 with plans already underway for listing five active licensed platforms on it upon its debut. To ensure all necessary measures are taken before launch, Trade Minister Zulkifli Hasan cautioned against rushing into anything that may put those still learning about cryptocurrency at risk.
• Polygon (MATIC) has reclaimed the $1.0 level, up 8.93% in 24 hours.
• The Gains Network DEX has contributed to the increasing transactional activity on Polygon.
• The Gains Network DEX allows traders to trade various financial derivatives of various assets including crypto, US stocks, and indices.
At press time, Polygon (MATIC) was trading at $1.09, up 8.93% in 24 hours. This rise in the price of Polygon can be attributed to the increasing activity on the network due to the decentralized exchange (DEX) Gains Network. The Gains Network was initially released on the Polygon blockchain before being deployed on Arbitrum. The daily trading volume of this DEX on Arbitrum has now crossed $230 million.
The Gains Network DEX provides crypto traders with the opportunity to trade various financial derivatives of various assets including crypto, US stocks, and indices. It also allows stakers to earn as much as 10% interest on their GNS tokens. This DEX enables global traders who would otherwise not be able to trade US-listed instruments without depending on banks. So far, the Gains Network DEX has processed over $25 million in total volume.
In addition to the Gains Network DEX, Polygon is also seeing increased activity due to the growing popularity of its other DeFi protocols. Polygon is currently home to a number of popular DeFi projects such as Aave, Curve Finance, and Uniswap. These protocols have seen a huge growth in user activity and transaction volume in recent weeks.
The Polygon network is also gaining traction due to its low transaction costs and fast transaction times. The network utilizes a Layer 2 scaling solution, allowing it to process transactions much faster than Ethereum. This has made it an attractive platform for developers looking to build DeFi applications.
It is clear that the Gains Network DEX has been a major factor in the recent surge in Polygon’s price and activity. The DEX provides traders with access to a wide range of financial instruments, enabling them to take advantage of the current bullish market. In addition, Polygon’s low transaction costs and fast transaction times are making it an attractive platform for developers looking to build DeFi applications. With all these factors in play, it is likely that the price of Polygon will continue to rise in the near future.
– NFT gaming has become a global trend that responds to user requirements and all market circumstances.
– The Play to Earn model allowed enthusiasts to make money by completing in-game tasks, attracting a lot of users and leading to a P2E craze.
– A new branch of industry is emerging that emphasizes engagement and emotions, allowing users to immerse in addictive gameplay and unleash their creativity while engaging in the game.
The NFT direction has kept the crypto industry in good shape for several years. Initially, it was known for its funny cats and other such highlights, but the concept has evolved into a global trend. It has become a great way to respond to all market circumstances and user requirements, leading to the creation of NFT gaming and several cycles of hype. The most powerful impetus for the jump was the introduction of the Play to Earn model, which allowed enthusiasts to make money by completing in-game tasks.
This motivation was a great success, attracting a lot of users and leading to a P2E craze. Projects claiming to develop a game suddenly had large trading volumes, and the essence of all these projects was the same. Users had to buy in-game objects, resources and other such items in order to progress in the game and make money. While this was a great way to make money, it was also a great way to lose money. The red market became quite challenging, and these games could not offer anything interesting.
But a new branch of industry is emerging that is responding to these issues. This industry is focusing more on user engagement and emotions, trying to combine the best traditions of WEB 2.0 games with the use of NFT. This is allowing players to immerse themselves in addictive gameplay, as well as unleash their creativity while engaging with the game. It is also allowing developers to create games that are more engaging and rewarding for players, as well as more profitable for the developers.
This new direction will be a great way to attract and retain users in the NFT space, as well as to create a sustainable model for NFT gaming. It is also allowing players to experience a much greater level of immersion and engagement in the game, as well as reward them in a much more tangible way. With the use of NFT, players can create and accumulate assets that they can use to progress in the game, as well as trade with other players. This is a great way to make money in the game, as well as to create a much more engaging and rewarding experience for players.
In conclusion, the NFT gaming space is continuing to battle user attraction and retention. But with the emergence of a new branch of industry that emphasizes engagement and emotions, as well as the best traditions of WEB 2.0 games, the use of NFT can become a great tool to create a sustainable model of NFT gaming. It can also allow players to immerse themselves in addictive gameplay, as well as unleash their creativity while engaging with the game. With the use of NFT, players can create and accumulate assets that they can use to progress in the game, as well as trade with other players. This is a great way to make money in the game, as well as to create a much more engaging and rewarding experience for players.
• Investors are worried that the Binance exchange may not survive the bear market.
• Metacade’s MCADE presale has been successful and is bringing positive sentiment to the crypto markets.
• Binance exchange is under fire due to a proof-of-reserves audit inconsistency, raising fears of an FTX-style bank run.
Investors in the crypto market have been feeling uneasy in recent months as the bear market continues to drag on. One of the key points of concern is the future of the Binance exchange, which has been the go-to platform for many crypto traders and investors. The exchange has been under fire recently due to a proof-of-reserves audit inconsistency, which has raised fears of an FTX-style bank run.
The bear market has also caused investors to become more wary of investing in new digital assets, as the risk of losses has increased. However, one project that has been able to bring some optimism back to the market is Metacade. The project has been highly successful in launching its MCADE presale, which managed to attract seven figures worth of funding and sold out the beta phase in just three weeks.
The success of the presale is seen as a sign of promise for the future of the crypto markets, as it shows that investors are still interested in investing in Web3 projects. This is in stark contrast to the fears surrounding the Binance exchange, which is under fire due to the proof-of-reserves audit inconsistency. The audit revealed that Binance’s BTC liabilities were $245 million bigger than their BTC reserves, leading to fears that an FTX-style bank run could cause major problems.
Changpeng Zhao, the CEO of Binance exchange, appeared on CNBC to discuss the financial situation of Binance exchange and was reluctant to hire a top four auditing firm to reveal liabilities. This hesitancy has only invited more FUD during the bear market, and investors are becoming increasingly worried that the exchange may not survive the bear market.
In contrast, the success of Metacade’s MCADE presale shows that investors are still optimistic about the future of Web3 and digital assets. The presale has been a key project in bringing positive sentiment back to the crypto markets, and investors are now looking forward to the future.