Category Archive : Netherlands

Crypto Insider Trading Generated $1.7M+ in Profits Since February 2021, Data Reveals

Neither the author, Tim Fries, nor this website, The Tokenist, provide financial advice. Please consult our website policy prior to making financial decisions.

Near the end of Apirl, a Twitter user reported some shifty on-chain data regarding Coinbase. It pointed out the so-called front-running of tokens which translates to the crypto version of insider trading, a process by which insiders could make millions in guaranteed profits. Last Friday, the Wall Street Journal elevated this coverage and ignited the debate of insider trading in crypto again.

Public Transactions Suggest Insider Trading in Crypto

The article covered the case of Gnosis (GNO) coins, the native currency for the Gnosis market prediction platform. Outside of its Dutch Exchange, this is one of the cornerstones of the Gnosis ecosystem. A prediction market allows users to stake their tokens based on the bets they make for future events.

For instance, one could register an event question about Tesla’s next gigafactory location. Then, tokens staked in the accurate answer appreciate the most. Belonging to this niche market, last August, a single wallet accrued $360k worth of GNO coins.

A week after that accumulation of GNO coins, the token was listed on the world’s largest crypto exchange, Binance. Such token front-running has been a common occurrence, forcing even Coinbase to rethink its policy after the allegations.

Why Getting Listed Leads to Price Pumps for Tokens

While any token holds value based on its utility, when it is listed on a mainstream exchange, its price tends to skyrocket. That’s because it opens the door for traders, which increases the coin’s liquidity and places buying pressure. Simultaneously, the token listing also legitimizes the blockchain project.

For this reason, knowing which token is getting on an exchange is like knowing which company is to benefit from a government deal before the public is even aware. Predictably, as soon as the GNO token was listed, the…

Read more at tokenist.com

Crypto zijn waardeloos, zegt ECB president Lagarde – Cardano Feed

Crypto zijn waardeloos, zegt ECB president Lagarde  Cardano Feed
Read more at cardanofeed.com

Opinion | Think you’re the one to beat the crypto crash? Think again.

Placeholder while article actions load

I generally don’t seek financial wisdom from college students, so when I began to hear last year from my kids that their classmates were putting money into cryptocurrencies, I got concerned. With all due respect, this is not, as a rule, a financially knowledgeable or savvy crowd. When one of my sons asked skeptically whether it wasn’t just the latest Dutch tulip craze, a fellow student said it was different — “You need to know when to get out.”

Well, it might not be so different after all, because it turns out many people lack that ability. When TerraUSD, a stablecoin — that is, a cryptocurrency that is supposed to be pegged to the dollar or another asset — lost almost all its value this month, it happened so fast that many investors lost whatever they had in the market. Another stablecoin, DEI, went as low as 52 cents, instead of the dollar promised. Bitcoin itself, which is not pegged to any currency, is down more than 50 percent from its high point last fall.

In many cases, it’s those who can least afford to take this sort of loss who are taking the hit. Crypto has been aggressively marketed as a chance to catch up to groups who felt left behind in the forever unequal United States. Over and over, partisans declared that blockchain would be a force for financial equity, empowering people traditionally shut out of American wealth-building mechanisms, such as housing or the stock market, by race or lack of capital.

Matt Damon proclaimed “Fortune favors the brave,” for Crypto.com, an exchange platform where people can buy and sell more than 200 cryptocurrencies, in a commercial that aired during the Super Bowl. (He’s now, in rather less brave fashion, declining to answer NBC News’s questions about it.) Kim Kardashian shilled for a coin, one that soon dropped by 98 percent. Politicians made the argument that crypto would make the financial world more equitable. Rep. Ritchie Torres (D), who represents a…

Read more at www.washingtonpost.com

The Effect of Bitcoin on the Finance sector in the Netherlands

Bitcoin is a decentralized digital currency. Satoshi Nakamoto created it in 2009 as an alternative to the fiat currencies used across the world. The value of Bitcoin grew manifold within a few years, and presently its price is around $6,000 per coin. This development has led to more people showing interest in this digital currency since its inception. Read here about the future prediction of crypto

The finance sector of the Netherlands is not left untouched by this Bitcoin revolution. On the contrary, the country has seen significant growth in adopting Bitcoin and other digital currencies.

 

1) High Prices: Raised prices have made people more aware of these assets and their potential as an investment.

 

2) Ease of Use: Bitcoin and other digital currencies are effortless. All one needs is a digital wallet to store the coins. As a result, people can make transactions without hassle, and the confirmation process is also fast.

 

3) Support from the Government: The government of the Netherlands has been supportive of Bitcoin and other digital currencies. For example, it recently legalized online gambling using 

cryptocurrencies to boost its usage. This favourable stance has motivated many businesses in the country to start accepting these currencies as payments for goods and services.

 

4) Favorable Regulations: The regulatory environment in the Netherlands is quite favourable towards Bitcoin and other digital currencies. The government has not placed any restrictions on their use and trade. On the contrary, it has made it easy for businesses to operate in this space.

 

5) Growing Awareness: There is a growing awareness about Bitcoin and other digital currencies in the Netherlands. It has led to an increase in people investing in these assets.

Many businesses are already leveraging their potential for growth and profitability, and more are expected to follow suit in the coming years.

Positive Effects of Bitcoin on the Finance sector of the…

Read more at techbuzzireland.com

“Where Did the ADA Go?” Cardano’s Founder Reacts to User’s Allegation of Loss Worth Over 7,000 Euros

Tomiwabold Olajide

Charles Hoskinson recently indicated that cryptocurrencies may have entered a bear market

Cardano founder Charles Hoskinson has responded to an individual’s claims of losing 7,000 euros ($7,469) after buying Cardano. A Twitter user, “DAhodling,” had drawn the Cardano founder’s attention to an article based on recent comments by European Central Bank President Christine Lagarde, who said that cryptocurrencies were worthless.

“My very humble assessment is that it is worth nothing,” Lagarde stated of crypto in an appearance on the Dutch talk show “College Tour” on Sunday. According to News Outlet CNBC, one member of the audience claimed they lost 7,000 euros ($7,469) after purchasing Cardano, to which Lagarde remarked, “That hurts.”

Cryptocurrencies have plummeted this year, with Bitcoin losing more than half of its value since its all-time high in November. Cardano, the seventh largest cryptocurrency by market capitalization, remains down 82.34% from its all-time high of near $3, reached in September 2021. ADA, just like the rest of the market, has underperformed since the start of 2022, losing over 59% since January.

Charles Hoskinson recently indicated that cryptocurrencies may have entered a bear market when a user inquired about the underperformance of the ADA coin. At the time of publication, ADA was trading at $0.544, up slightly from the previous day.

Ads

Cardano’s Yoroi wallet receives CIP-30 upgrade

As reported by Emurgo, Cardano’s commercial arm, Yoroi Wallet, has reached full compatibility with CIP 30. Cardano Improvement…

Read more at u.today

Huobi Global’s resilient ecosystem safeguards the platform from the colossal crypto crash

The Dutch tulip bulb market bubble and subsequent crash that occurred in the 17th century left the Netherlands in limbo for three years and often serves as a parable for greed and excess; more recently, the crash of Luna, where losses totalled in the tens of millions has resulted in increased levels of depression among the multitude investors who believed in Do Kwon’s vision of an algorithmic stablecoin. 

The Luna tragedy unfolded despite being backed by a vast Bitcoin reserve, and consequences were far-reaching – the entire crypto market, worth an approximate US$2 trillion, was brought to its knees and listed firms, the likes of Tesla and Meitu, were negatively impacted.

One of the reasons behind Luna’s failure was its failure to form a resilient enough ecology, resulting in a lack of confidence from the masses that, over time, led to its massive downfall. However, not all crypto industry firms are cut from the same cloth. 

As the world’s leading exchange, Huobi Global did not rush headfirst into reckless decisions during the ups and downs of the global cryptocurrency market. Instead, the exchange has been steadily focused on building and enriching its ecosystem, with the aim to ensure users gain profits despite unfavorable market conditions. Giving out 31 million dollars worth of rewards in a month, Huobi Global has rolled out attractive products tailored to the strategies of different user types and risk profiles, and the outcome of such a strategy has been largely positive.  

  1. Global exchange

The collapse of UST shocked the entire crypto space, and the industry was littered with complaints from disillusioned investors. In an interview with Cointelegraph, Huobi co-founder Du Jun said, “Crypto as a technology and asset class introduces value and innovation that are unique and irreplaceable, and we believe that one bad apple in the short run will not affect long-term demand for crypto assets and the industry as a whole.” No truer words.

As a…

Read more at ambcrypto.com

Grayscale Wants You to Convince the SEC to Approve Its Bitcoin Spot ETF

Crypto asset manager Grayscale–which stewards $43 billion in cryptocurrencies–has reportedly launched a marketing campaign asking people “to advocate for a Bitcoin ETF” to the United States Securities and Exchange Commission (SEC). 

According to initial reporting from Axios, a Grayscale advert appeared in Washington D.C.’s Union Station, saying “we care about crypto investors,” and included a QR code that takes people to a page where they can submit comments to the SEC.

Decrypt has confirmed with Grayscale that the QR code directs users to submit comments to the SEC. 

Grayscale’s vice president of communications Jennifer Rosenthal also told Decrypt that this advertising campaign was launched in April and will end in July. Besides the Union Station location, Rosenthal said that the campaign is also running in various newspapers, including the New York Times, Wall Street Journal, and The Washington Post.

She added that the ads also appear on Amtrak trains and NYC bus links and will soon appear on MTA live boards and in airport lounges.

Grayscale’s campaign is part of its larger ambition to finally see a Bitcoin spot exchange-traded fund (ETF) approved by the SEC. 

The federal securities regulator has so far rejected every spot ETF application. Still, Grayscale is hoping its advertising and industry clout will return a different verdict from the SEC on July 6.

The application process is now in an open review period, so anyone can submit comments to the SEC for consideration. 

Reportedly, over 2,600 comments have been submitted so far.

 

Why Grayscale wants an ETF

Currently, in the absence of ETFs, products like Grayscale’s Bitcoin and Ethereum Trusts offer investors regulated exposure to crypto through traditional investment platforms, with publicly quoted prices, legal counselors and auditors.

Despite the 2% management fee to invest in crypto, Grayscale’s products have still attracted investors. Its flagship offering, the Bitcoin Trust (GBTC), currently…

Read more at decrypt.co

Tether (USDT) stablecoin withdrawals top $10 billion

Investors have yanked more than $10 billion out of tether in the past two weeks amid heightened regulatory scrutiny over stablecoins.

Tether, the world’s largest stablecoin, has seen its circulating supply plunge from a record $84.2 billion on May 11 to around $73.3 billion as of Monday, according to data from CoinGecko. About $1 billion was withdrawn late Friday evening.

The cryptocurrency, which is meant to be pegged to the U.S. dollar, temporarily dipped as low as 95 cents on May 12 after another type of stablecoin, terraUSD — or UST — plunged well below $1. That resulted in a sell-off in UST’s associated luna token, which in turn wiped out more than $40 billion in holders’ wealth.

The fallout from the collapse of Terra, the blockchain behind UST and luna, sent shockwaves through the crypto market, with bitcoin and other cryptocurrencies tumbling sharply. That’s causing concern for regulators.

“Whenever there’s a failure or a catastrophe in crypto, the fear is always that someone will misread the situation and overcorrect in a position that’s not helpful for the entire community writ large,” Kathleen Breitman, a co-creator of the Tezos blockchain, told CNBC.

“As much as I relish seeing things that don’t make sense fail, there’s always a tinge of like, ‘Are people going to extrapolate from this that everything that’s a stablecoin is unsound?’ That’s always the big fear.”

Unlike tether, UST wasn’t backed by fiat currency held in a reserve. Instead, it relied on some complex engineering where price stability was maintained through the destruction and creation of UST and its sister token luna. Investors were lured in by the promise of 20% savings yields from Anchor, Terra’s flagship lending platform, a rate many investors said was unsustainable.

Terra creator Do Kwon had also accumulated billions of dollars’ worth of bitcoin and other tokens through his Luna Foundation Guard fund, but nearly all of the funds were…

Read more at vervetimes.com

Bitcoin ATMs Market has Huge Demand Top Key Players Profiling – Moon Zebra, Skyhook, Coinsource, Genusis Coin, Lamassu – The Daily Vale

The recent report on “Global Bitcoin ATMs Market Report 2022 by Key Players, Types, Applications, Countries, Market Size, Forecast to 2030” offered by Credible Markets, comprises of a comprehensive investigation into the geographical landscape, industry size along with the revenue estimation of the business. Additionally, the report also highlights the challenges impeding market growth and expansion strategies employed by leading companies in the “Bitcoin ATMs Market”.

An exhaustive competition analysis that covers insightful data on industry leaders is intended to help potential market entrants and existing players in competition with the right direction to arrive at their decisions. Market structure analysis discusses in detail Bitcoin ATMs companies with their profiles, revenue shares in market, comprehensive portfolio of their offerings, networking and distribution strategies, regional market footprints, and much more.

Key players in the global Bitcoin ATMs market:

Moon Zebra
Skyhook
Coinsource
Genusis Coin
Lamassu
Hyosung
BitXatm
BitAccess
Bitcoin ATM
Cointelegraph
General Bytes
Covault

On the basis of types, the Bitcoin ATMs market from 2018 to 2030 is primarily split into:

One-Way ATMs
Two-Way ATMs

On the basis of applications, the Bitcoin ATMs market from 2018 to 2030 covers:

Buy
Sell

Click the link to get a free Sample Copy of the Report @ https://crediblemarkets.com/sample-request/bitcoin-atms-market-942482?utm_source=Chaitali&utm_medium=SatPR

Regional Analysis of Global Bitcoin ATMs Market

All the regional segmentation has been studied based on recent and future trends, and the market is forecasted throughout the prediction period. The countries covered in the regional analysis of the Global Bitcoin ATMs market report are U.S., Canada, and Mexico in North America, Germany, France, U.K., Russia, Italy, Spain, Turkey, Netherlands, Switzerland, Belgium, and Rest of Europe in Europe, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, China,…

Read more at thedailyvale.com

Can Bitcoin play a role in a diversified ASX share portfolio?

Image source: Getty Images

Bitcoin (CRYPTO: BTC) is many things to many people.

Some folks make use of the world’s number one crypto by market cap for everyday transactions, with more merchants in Australia beginning to accept digital assets as payment.

Other crypto investors buy Bitcoin planning to hold (or HODL) onto it for the long-term potential value gains.

And still other speculators engage in trading the token. Of course, they hope to buy near the low points of its big price swings and sell near the high.

But can Bitcoin play a role in a diversified ASX share portfolio?

The answer to that question will vary depending on who you ask.

Bitcoin gets the institutional investing thumbs down from PGIM

In its latest Megatrends Report, PGIM – the global investment management business of Prudential Financial Inc (NYSE: PRU) – pulled few punches when it comes to cryptos like Bitcoin.

According to the PGIM report, cryptos are not reliable assets to diversify investment portfolios. Nor do they offer an adequate safe haven in troubled times or act as an inflation hedge.

With the focus specifically on institutional investors, PGIM sees little benefit in directly investing in cryptos. It says that doing so adds plenty of risk and volatility.

According to PGIM CEO David Hunt, investing in an asset like Bitcoin is speculation, not investing:

As long-term investors and fiduciaries on behalf of our clients, three things need to be true for us to add an asset class into a portfolio: the asset needs a clear regulatory framework, it needs to be an effective store of value, and it needs to have a predictable correlation with other asset classes.

Cryptocurrency currently meets none of these three criteria. It’s much more of a speculation than an investment.

PGIM head of thematic research Shehriyar Antia said that atop the speculative nature, cryptos have as yet failed to live up to their safe haven billing:

Cryptocurrency may be a heroic quest to build a viable,…

Read more at www.fool.com.au