by Chelsea Florence | Nov 10, 2023 | Blockchain
Key Points
- MoonDAO is offering its second ticket to take another DAO-voted member into Space via Jeff Bezos’s company, Blue Origin.
- MoonDAO sent the first DAO-voted member into Space in August 2022 and is now back with similar pursuits.
In August 2022, MoonDAO completed an exciting endeavor, sending a DAO-voted member to Space. The DAO is now back for a second leg, where a lucky contestant will be selected for a similar experience.
MoonDAO seeks astronauts to Space via Blue Origin.
The Decentralized Autonomous Organization has announced another sweepstakes round to get a lucky member to join the next flight to Space with Jeff Bezos’s Blue Origin space company.
According to their Nov. 7 announcement, owning a ticket to Space NFT is not mandatory to enter their sweepstake or win. However, the registration process depends on the DAO’s terms and conditions.
The announcement explained that the selection process is community-oriented and revamped to improve the onboarding experience while leveraging the MoonDAO App and Marketplace.
This material is meant for educational and recreational purposes only. It is not financial advice in any way; therefore, damage caused by the information provided here is not liable to the company or the writer in question. Please make due diligence and conduct your own research before taking any action prompted by the information provided above.
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Bitcoin: bc1qpeuuw7szfdkqd7hp66uhkas4huha8qkwxdgxtg
BNB Chain/BEP 20: 0xe6814Bf3B50691BC1697E4B2717f5d204b67C7f6
by Melissa Adams | Nov 10, 2023 | Blockchain
Key Points
- Bitcoin has broken an 18-month high by trading at over $37,500 on Nov 9.
- ETH has also been surging in prices, but so is its gas fees. Over the past 24 hours, it breached the $200 mark for given high-priority transactions, igniting debate on scalability issues.
Bitcoin and Ethereum are surging in price as the BTC halving countdown closes in. However, concerns are now rising over scalability issues as gas fees surge. Bitcoin network recently began being used for inscriptions and hosting other tokens; as a result, its scalability is now in question whether it will be able to handle the demands as a bull market may be close.
Are bull market issues beginning once more?
Crypto market cycles have been seen to follow four years of Bitcoin halving. This time, it’s not any different. The crypto market is recovering fast from the heavy bear market that began towards the end of 2021 as Bitcoin’s halving countdown continues clocking. It’s now only 190 days left till the halving is done, and Bitcoin has already registered a new 18-month high.
However, concerns are rising over its scalability issues. Bitcoin network has been upgraded to support ordinal inscriptions, and new token standards have been introduced, allowing it to have ecosystems built around it. As a result, the network will be required to settle even more transactions than ever before.
In past bull cycles, the Bitcoin network has been subject to high gas fees, though not as high as Ethereum. Ethereum has undergone new improvements in its scalability issues via the transition to the POS mechanism. However, this transition was confirmed not to have very significant changes to the network’s gas fee challenges just yet.
Over the last 24 hours, crypto users started circulating screenshots of $220 gas fees required to settle a high-priority transaction on the Ethereum network, while others showed one with a $100 mark. On the Bitcoin matter, at the same time frame, the average Bitcoin gas fees hovered around $10 while it had been around the $1 mark for the past three months.
This material is meant for educational and recreational purposes only. It is not financial advice in any way; therefore, damage caused by the information provided here is not liable to the company or the writer in question. Please make due diligence and conduct your own research before taking any action prompted by the information provided above.
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BNB Chain/BEP 20: 0xe6814Bf3B50691BC1697E4B2717f5d204b67C7f6
by Chelsea Florence | Nov 9, 2023 | Banking
Key Points
- Global banking giant Standard Chartered is eyeing setting up a crypto fund in the United Arab Emirates.
- The disclosure comes days after the UAE issued guidance on crypto regulation requiring VASPs to be licensed to increase the transparency of financial systems in the country.
Standard Chartered’s SC Ventures seeks to establish a Digital Asset Joint Venture investment company in partnership with Japan’s SBI holdings in the UAE.
UAE continues working towards becoming a global crypto hub
In a Nov.9 Press release, SC Ventures revealed that the new venture in the UAE would be a joint effort with Japanese Financial Conglomerate SBI Holdings aiming ‘to make strategic and minority investments’ in areas of interest like ‘market infrastructure, DeFi, Tokenization, COnsumer payments’ among others.
The CEO of SC Ventures, Alex Manson, also indicated a strong interest in Risk management, tokenization, and compliance tools as key aims of the new venture. He highlighted the region’s efforts and new role in becoming a fintech hub due to its strengthening infrastructure and talent.
UAE has been working on attracting more fintech investors and getting a better reputation globally for its financial products. On Nov 8, Fintech Express reported that the country had released a new guidance list for those looking to set up virtual assets services provision systems there. In the list, the country highlights some red flags of common untrustable crypto deals and warnings to service providers who want to continue working in the region.
The country is introducing these measures, eyeing to get out of the FATF’s ‘Grey List’ of countries with questionable financial systems. Thus increasing its chances of incorporation with the mainstream word finance and, thus, a better future. While SC Ventures is set to be the next new thing in the country’s financial landscape, Manson has confirmed that it will not limit itself to the regional market but will “explore the emerging digital asset ecosystem opportunities globally.”
This material is meant for educational and recreational purposes only. It is not financial advice in any way; therefore, damage caused by the information provided here is not liable to the company or the writer in question. Please make due diligence and conduct your own research before taking any action prompted by the information provided above.
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BNB Chain/BEP 20: 0xe6814Bf3B50691BC1697E4B2717f5d204b67C7f6
by admin | Nov 9, 2023 | Learn
Introduction:
In the ever-evolving landscape of investment opportunities, Exchange-Traded Funds (ETFs) have emerged as a versatile and popular choice for both seasoned and novice investors. Among the diverse array of ETFs, the spot market ETF stands out as a dynamic and intriguing option. In this article, we delve into the intricacies of spot market ETFs, exploring what sets them apart and how they can be a valuable addition to your investment portfolio.
Understanding Spot Market ETFs:
Spot market ETFs, also known as physical ETFs, are investment funds designed to closely track the performance of a specific basket of assets in the spot market. Unlike synthetic or derivative-based ETFs, which use financial instruments like futures and options to replicate the index they track, spot market ETFs directly hold the underlying securities or assets.
The Core Concept:
The term “spot market” refers to the market where financial instruments and commodities are bought or sold for immediate delivery and settlement. In the context of spot market ETFs, this means that the fund invests in the actual assets that make up the index it aims to replicate. For example, a spot market ETF tracking the S&P 500 would own shares of the companies within the S&P 500 index.
Key Features of Spot Market ETFs:
- Transparency:
Spot market ETFs offer a high level of transparency as they disclose their holdings on a daily basis. Investors can easily see the specific assets held by the fund, providing a clear picture of where their money is invested.
- Low Tracking Error:
Since spot market ETFs directly own the underlying assets, they tend to have lower tracking errors compared to synthetic ETFs. Tracking error measures the divergence between the ETF’s performance and the index it aims to replicate.
- Dividend Income:
Investors in spot market ETFs may benefit from dividend income generated by the underlying assets. This can be appealing for income-focused investors seeking a steady stream of returns.
- Creation and Redemption Process:
Spot market ETFs utilize an “in-kind” creation and redemption process. Authorized Participants (APs) can exchange a basket of securities for shares of the ETF (creation) or exchange ETF shares for the underlying securities (redemption). This process helps keep the ETF’s market price closely aligned with its Net Asset Value (NAV).
- Cost Efficiency:
Spot market ETFs often have lower expense ratios compared to actively managed funds. The efficiency of the in-kind creation and redemption process contributes to cost savings, making them a cost-effective investment option.
Conclusion:
Spot market ETFs offer investors a straightforward and transparent way to gain exposure to a diversified portfolio of assets. With their focus on the actual ownership of underlying securities, these ETFs provide a tangible and efficient means of tracking market indices. Whether you are a passive investor looking for a long-term strategy or an active trader seeking liquidity, spot market ETFs can be a valuable tool in achieving your financial goals. As with any investment, it’s crucial to conduct thorough research and consider your own risk tolerance and investment objectives before incorporating spot market ETFs into your portfolio.
This material is meant for educational and recreational purposes only. It is not financial advice in any way; therefore, damage caused by the information provided here is not liable to the company or the writer in question. Please make due diligence and conduct your own research before taking any action prompted by the information provided above.
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BNB Chain/BEP 20: 0xe6814Bf3B50691BC1697E4B2717f5d204b67C7f6
by Joseph Reagan | Nov 9, 2023 | Finance
Key Points
- US SEC is now approaching the climax of deciding on the ongoing spot Bitcoin approval race by TradFi institutions.
- Today is the start of the first window for the commission to approve all of the 12 filed spot Bitcoin ETFs.
The US SEC has just entered an eight-day window that starts between Nov. 9 and Nov. 17, where it can approve all 12 spot Bitcoin ETF filings. Bloomberg analysts believe there is a 90% chance all 12 ETFs will be approved by Jan 10.
Will we see an approval of a spot Bitcoin ETF anytime soon?
Since Q2 this year, major TradFi institutions in the US have been racing against each other to bring spot Bitcoin and Ethereum ETFs to their customers first. However, to make the ground fair, the US SEC is expected to be approving all BTC and ETH ETFs at ago to avoid giving any institution a market advantage over the other.
The question of whether we will see any spot Bitcoin ETF approved this year has been pondered by multiple analysts and founders in the crypto space. According to an X.com post by Bloomberg ETF analyst James Seyffart, the US SEC just entered an eight-day window where it can approve all the twelve spot Bitcoin ETFs.
Seyffart said that he still believes in a “90% chance by Jan 10 for spot Bitcoin ETF approvals.” however, there is still a chance that in this first window “, a wave of approval orders for all the current applicants *COULD* occur.”
The US SEC had issued delay orders on spot Bitcoin ETFs at the same time to allow all the 12 applicants to review their applications and be ready for launch. The commission further pointed out that Nov. 8 would be the last day to receive comments on the applications.
However, according to Seyffart, it is still not going to happen that in this window, all the applicants will get their ETFs approved. The reason behind it is that the US SEC has set Nov. 17 as a recommencing period for 3 ETFs, including Hashdex Bitcoin ETF, Franklin Bitcoin ETF and Global X Bitcoin Trust. That means these three applications can only be approved as of Nov 23 at the earliest.
This material is meant for educational and recreational purposes only. It is not financial advice in any way; therefore, damage caused by the information provided here is not liable to the company or the writer in question. Please make due diligence and conduct your own research before taking any action prompted by the information provided above.
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BNB Chain/BEP 20: 0xe6814Bf3B50691BC1697E4B2717f5d204b67C7f6
by Fintech Express | Nov 8, 2023 | Blockchain
Key Points
- Binance crypto exchange has launched a Binance Web3 wallet for its 150 M registered users.
- The Binance Web3 Wallet has been launched within the primary Binance app and is predominantly used for trading cryptocurrencies.
Binance has announced the launch of the Binance Web3 Wallet, which will be used for crypto trading and be harbored in the main Binance trading App.
Binance excites its users with a new Web3 solution
The new wallet was introduced at the Binance Blockchain Week conference in Istanbul and is set to be made available to all users via the official international platform for the exchange. During the launch, CEO Changpeng Zhao explained that the exchange is tapping into the innovation as Web3 wallets represent more than just the storage of digital assets as they empire sovereignty of personal finances.
“Web3 wallets represent more than just storing digital assets — they are an integral part of the Web3 framework, empowering individuals with the ability for self-sovereign finance.”
According to the released notes on the innovation, the application utilizes a multi-party computation mechanism (MPC), which is used to break the user’s private keys into three smaller parts called Key shares. Two of the keys are controlled by the user at all times, allowing for self-custody.
The three shares of the keys will be held at three different places, with the first one being held with Binance, the second part stored locally on the user’s mobile phone and the third being encrypted by the user’s recovery password and backed up to their personal cloud storages like iCloud or Google Drive.
The announcement explains that having the keys split across three different locations reduces the chances of vulnerability and mitigates the possibility of the keys falling into the hands of third parties.
According to the head of regional markets at Binance, Richard Teng, the MPC technology removes fears of losing the seed phrase.
“We want our users to be assured that they interact with Web3 within a secure and protected ecosystem. That is why we have incorporated MPC technology and Binance’s trusted security infrastructure within the Web3 Wallet,” Teng said.
This material is meant for educational and recreational purposes only. It is not financial advice in any way; therefore, damage caused by the information provided here is not liable to the company or the writer in question. Please make due diligence and conduct your own research before taking any action prompted by the information provided above.
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by admin | Nov 8, 2023 | Learn
Short selling is a trading strategy in financial markets where an investor, known as a “short seller,” borrows an asset (such as stocks, bonds, or commodities) from someone else and sells it on the open market with the intention of buying it back at a later date, ideally at a lower price. The short seller profits from the difference between the higher selling price and the lower repurchase price. This is essentially a bet that the price of the asset will decrease in the future.
How the Process of Short Selling Typically Works:
- Borrowing: The short seller borrows the asset from a lender, typically a brokerage or another investor. They agree to return the asset at a later date.
- Selling: The short seller immediately sells the borrowed asset in the open market. This selling pressure can lead to a decrease in the asset’s market price.
- Buying to Cover: At a later time, the short seller must “cover” their position by buying back the same asset in the open market. If the price has fallen, they can buy it back at a lower price, making a profit.
Ways How Short Selling Can Affect the Market
- Price Impact: When a significant number of investors engage in short selling, it can put downward pressure on the price of the asset being shorted. This can contribute to price declines in the market.
- Market Efficiency: Short selling can help make markets more efficient by incorporating negative information and expectations into asset prices. It can provide a counterbalance to excessively optimistic market sentiment.
- Risk Mitigation: Short selling can be a risk management tool for investors, allowing them to hedge their long positions (positions betting on rising prices) in a portfolio. This can help reduce the overall risk in their investment strategy.
- Price Discovery: Short selling can aid in the discovery of the true value of an asset, as it allows for the incorporation of bearish views and negative information into the pricing mechanism.
Drawbacks and Risks of Short selling
- Unlimited Losses: Unlike buying a long position, where the maximum loss is the initial investment, short selling carries unlimited potential losses if the asset’s price rises significantly.
- Market Manipulation: Excessive or coordinated short selling can potentially lead to market manipulation, such as spreading false negative information to drive down the price of a stock for personal gain.
- Regulatory Restrictions: Some markets and regulators impose restrictions on short selling during periods of extreme market volatility to prevent further price declines.
Conclusion
Overall, short selling is a legitimate and essential trading strategy in financial markets, but it can have both positive and negative effects on market dynamics and requires careful regulation to ensure fair and orderly markets.
by Chelsea Florence | Nov 8, 2023 | Regulation
Key Points
- The United Arab Emirates announced a plan to penalize unlicensed Virtual Asset Service Providers (VASPs).
- The country’s lawyer, Irina Heaver, explained that the new plan is part of UAE’s efforts to move out of the Financial Action Task Force’s “Grey List.”
The United Arab Emirates has announced new guidance to penalize unlicensed VASPs as part of a plan to have more transparent financial activities in the country.
UAE continues to spearhead crypto regulation in the world
Financial Regulators, alongside the Central Bank of the United Arab Emirates (CBUAE), have published a new joint guidance for digital assets services providers operating within the country aiming to streamline the financial sector by enhancing transparency.
A tweet from the CBUAE read:
“The National Anti-Money Laundering and Combating Financing of Terrorism and Financing of Illegal Organisations Committee (NAMLCFTC), in collaboration with UAE supervisors, has issued guidance on combating the use of unlicensed virtual asset service providers, which is prepared by the supervisory subcommittee.”
The National Anti Money Laundering and Combating Financing of Terrorism and Financing of Illegal Organisations Committee (NAMLCFTC) and the CBUAE published a joint list of “Red Flags” for Vasps. The guidance list included unrealistic marketing promises, Operations without a regulatory license, poor communication, and poor or lack of regulatory disclosures, among other indicators of suspicious operations.
In a press release, the governor of the CBUAE and the chairman of the NAMLCFTC, his excellency Khaled Mohamed Balama, said that the new guidance plan comes when the country is working to make virtual assets more accessible. He explained that the digital economy needs to mature and thus will have to get good backing from the government, including “combating all kinds of financial crimes intensifies” to ensure the integrity of the financial system in the country.
It’s not the first time that the UAE has made bold steps to streamline its financial system as it marches towards more transparency and sitting on better books in the world. In March 2022, the UAE was placed on FATF’s Grey list and subjected to increased monitoring due to deficiencies in its Anti-money laundering and CTF regulations. The country vowed to increase its efforts and commitment to work alongside the global watchdog to strengthen its financial monitoring deficiencies.
According to its Lawyer, Irina Heaver, the UAE has enacted significant reforms since 2022, with the current VASP monitoring guidance being one of them. Heaver says they expect to exit the grey list as soon as in the next 2024 FATF review.
This material is meant for educational and recreational purposes only. It is not financial advice in any way; therefore, damage caused by the information provided here is not liable to the company or the writer in question. Please make due diligence and conduct your own research before taking any action prompted by the information provided above.
For more resources like this one, keep watching our website and remember to follow our socials to stay ahead of the curve. Thanks for believing in us. Your support is appreciated.
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by Joseph Reagan | Oct 26, 2023 | Regulation
Key Points
- SkyBridge founder Anthony Scaramucci has criticized the decision by Sam Bankman-Fried’s defense to allow him to take the stand.
- He says that the prosecutors will exploit weaknesses in his story and end up with a longer sentencing.
Anthony Scaramucci, the SkyBridge Capital founder, has voiced his opinions on the ongoing FTX case, saying Sam Bankman-Fried has run out of means to “out-fox” regulators. He added that the ex-CEO of the fallen exchange will be “skinned alive by the regulators.
Sam Bankman-Fried to take the stand in his trial case
In an Oct. 25 interview with CNBC, Anthony Scaramucci voiced his opinions on the ongoing case against FTX founder and EX-CEO Sam Bankman-Fried, saying that the Department of Justice will refer to all the contradictions he made, adding years to his eventual sentence.
He stated that the move by his defense to allow him to take the stand in his criminal trial is a “very bad move” as the prosecutors will have the chance to skin him alive without much resistance.
“He’s going to get skinned alive; there’s no way to escape. He thinks he will out-fox the prosecutors, but they’re very well experienced with this stuff.”
He added that he believes that Sam Bankman-Fried’s failed ambitions and excessive urge to out-trade everyone is the end of him. FTX Ventures had acquired a stake of 30% in SkyBridge, which the company is now trying to buy back from the now-bankrupt exchange.
However, only a little development has happened, as the exchange might be re-launched. Keep watching Fintech Express for more updates on this and other Fintech-related developments.
by admin | Oct 23, 2023 | Learn
Preparing for a bull market involves taking steps to make the most of potential investment opportunities and protecting your financial interests as the market experiences growth. Here are some strategies to consider:
Educate Yourself:
- Stay informed about the financial markets and economic conditions. Read books, articles, and watch news related to investments and market trends.
- Understand the characteristics of a bull market, including rising stock prices and positive investor sentiment.
Set Clear Goals:
- Define your financial goals and investment objectives. Are you looking for short-term gains or long-term wealth accumulation?
Diversify Your Portfolio:
- Diversification can help manage risk. Spread your investments across different asset classes, such as stocks, bonds, real estate, and commodities.
- Consider diversifying within asset classes as well. For stocks, invest in various sectors and industries.
Review Your Portfolio:
- Assess your current investments and make adjustments as needed. Rebalance your portfolio to align with your long-term objectives.
Build an Emergency Fund:
- Ensure you have an adequate emergency fund that covers three to six months’ worth of living expenses. This provides a financial safety net in case of unexpected events.
Risk Tolerance Assessment:
- Evaluate your risk tolerance and make sure your portfolio aligns with it. Your risk tolerance should match your investment strategy.
Investment Strategy:
- Develop a clear investment strategy that suits the current market conditions. For a bull market, consider a growth-oriented strategy.
Long-Term Perspective:
- Focus on long-term investing rather than trying to time the market. Market timing can be challenging, even during a bull market.
Dollar-Cost Averaging:
- Consider using dollar-cost averaging to invest regularly, which can help reduce the impact of market volatility.
Avoid Emotional Decisions:
- Don’t let emotions dictate your investment decisions. Fear and greed can lead to poor choices. Stick to your pre-defined strategy.
Regular Monitoring:
- Keep a close eye on your investments, but avoid overtrading. Frequent buying and selling can lead to increased transaction costs and taxes.
Take Profits:
- Consider taking profits periodically. Reinvesting some gains or setting aside cash can help you capture gains and protect your capital.
Tax-Efficient Investing:
- Be mindful of the tax implications of your investments. Consider tax-efficient strategies, such as tax-advantaged accounts like IRAs and 401(k)s.
Seek Professional Advice:
- If you’re unsure about your investment decisions, consider consulting a financial advisor who can provide guidance based on your individual circumstances.
Avoid Speculative Bets:
- Be cautious about chasing high-risk, speculative investments during a bull market. Ensure that your investments align with your risk tolerance and objectives.
Stay Informed:
- Stay updated on market conditions and adjust your strategy as needed. Market conditions can change, and being adaptable is important.
Conclusion
Remember that bull markets can be followed by bear markets, and investing always carries inherent risks. Be prepared for market fluctuations and stay disciplined in your approach, focusing on your long-term financial goals. Keep watching Fintech Express for more investing and fintech research guides.
