Monat: August 2022

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Floki Inu introduces Treasury Bills: users can buy FLOKI at a discount

Floki Inu revealed in a tweet thread that it has once again partnered with ApeSwap to allow its users to purchase its native token FLOKI at a discount via their new sustainable liquidity mining (SLM) program.

The tweet read:

“We’re excited to partner with @ape_swap to allow users to purchase FLOKI at a discount using their new sustainable liquidity mining (SLM) program.”

Floki Inu’s SLM program

Floki Inu’s team revealed that the sustainable liquidity mining program uses yield-bearing NFTs called Treasury Bills. Users can buy these Treasury Bills using Liquidity Provider (LP) tokens and receive FLOKI tokens at a discount.

To create liquidity, users will then be required to sell the Treasury Bills.

The SLM program is designed to allow users to purchase FLOKI tokens at a discount while also providing a way for Floki Inu to create protocol-owned liquidity sustainably and in a cost-effective manner.

To participate in the program, users should visit the Treasury Bill page on ApeSwap and choose “Floki-BNB Bill.” You can then go ahead and create a liquidity protocol by selecting “Get LP.”

The SLM programs provide an opportunity for FLOKI lovers to add to their bags at a discounted price.

It is worth noting that this is the second time that Floki Inu is partnering with ApeSwap for the SLM program.

The post Floki Inu introduces Treasury Bills: users can buy FLOKI at a discount appeared first on CoinJournal.

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Crypto.com secures approval as a crypto asset business from UK’s FCA

Crypto.com has recently been approved or registered in Singapore, UAE (Dubai), Italy, South Korea and Canada among other jurisdictions.

Cryptocurrency exchange Crypto.com has yet secured another regulatory approval as it continues its global expansion.

On Wednesday, the exchange announced it had been approved as a crypto asset business by the United Kingdom’s Financial Conduct Authority (FCA).  The regulatory greenlight adds to a list of major milestones for Crypto.com regarding the push to offer its services to consumers across the globe in compliance with local regulations.

The UK approval is especially sweet for Crypto.com given the country has one of the largest crypto communities, and authorities see regulation as critical to consumer protection as well as fostering an environment that can incentivise innovation.

“This is a significant milestone for Crypto.com, with the UK representing a strategically important market for us and at a time when the government is pushing forward with its agenda to make Britain a global hub for crypto asset technology and investment,” Crypto.com CEO Kris Marszalek said in a statement.

The exchange plans to use the license to expand its products and services in the country, even as they work with market watchdogs, Marszalek noted.

Crypto.com’s major regulatory scores

With the FCA license, Crypto.com has added a key regulatory nod to several already bagged across the world. These include approvals in fast-growing crypto destinations such as Singapore, Dubai, and Cyprus. 

As well, the exchange recently completed two key acquisitions in South Korea to land the Electronic Financial Transaction Act and Virtual Asset Service Provider licenses.

The platform also has registrations in Italy, Greece, Cayman Islands and in Canada (via a pre-registration agreement with the Ontario Securities Commission (OSC)).

Crypto.com’s FCA approval comes a few months after the company signaled an aggressive expansion plan with multiple senior staff hires. Among the new recruits were a General Manager (UK) and a Global Head of Sustainability and ESG.

The post Crypto.com secures approval as a crypto asset business from UK’s FCA appeared first on CoinJournal.

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Bitcoin Cash price prediction ahead of FOMC minutes

Bitcoin Cash price crashed sharply as investors waited for the upcoming FOMC minutes. The BCH token dropped to a low of $135, which was much lower than this month’s high of $147.90. Its market cap has dropped to over $2.6 billion.

FOMC minutes ahead

Bitcoin Cash and other cryptocurrencies declined sharply as the Fed prepares to publish minutes of July’s meeting. In that meeting, the bank decided to hike interest rates by 0.75% for the second straight month. As a result, the Fed has increased rates by 225 basis points this year. 

These minutes will provide more color about what the FOMC officials deliberated on in that meeting. In most cases, they usually offer more information on what the bank will do in the next meeting. Economists expect that the minutes will provide a hint that the bank will hike by either 0.50% or 0.75% in the coming meeting.

A lot has changed since the Fed met in July. For one, the Bureau of Labor Statistics published encouraging inflation and jobs data. Numbers delivered earlier this month showed that the economy created over 528k jobs in July while the unemployment rate dropped to 3.5%.

Additional data showed that the country’s inflation dropped from 9.1% in June to 8.7% in July of this year. Still, the figure is above the Fed’s target of 2.0%. In addition to cryptocurrencies, stocks also declined in the futures market. Dow Jones dropped by 240 points while Nasdaq 100 fell by 150 points.

Bitcoin Cash price prediction


The four-hour chart shows that the BCH price declined sharply ahead of the upcoming FOMC minutes. As it dropped, the coin managed to test the lower side of the ascending channel shown in green. It also moved below the 25-day and 50-day moving averages while the Relative Strength Index (RSI) tilted lower.

Therefore, Bitcoin Cash price will likely resume the bullish trend as buyers target the upper side of the ascending channel. This price is at $150. A drop below the channel will signal that bears have prevailed and push the coin to a low of $130.

The post Bitcoin Cash price prediction ahead of FOMC minutes appeared first on CoinJournal.

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I would never bet against Bitcoin, Kraken CEO says

  • Kraken CEO Jesse Powell says he still hopes it is possible for Bitcoin price to rally in 2022, even as he acknowledges the risks of fresh downsides.
  • Powell had predicted the last rally could have seen ‘Bugatti for1 BTC’ purchases.
  • Bitcoin currently trades around $23,680.

Kraken CEO Jesse Powell says he is still bullish on Bitcoin (BTC) and that given, he still fancies buying a Bugatti with one BTC. He would not bet against the flagship cryptocurrency, he told “Bloomberg Crypto” in an interview.

Powell also commented on the US Treasury’s sanctions against crypto mixing platform Tornado Cash, seeing the move as “unconstitutional” and a “knee jerk reaction” following recent turmoil in crypto. 

According to him, there is going to be a constitutional challenge to the sanctions.

Bitcoin can rally higher in 2022, Powell says

In 2021, as Bitcoin price rallied, Powell told Bloomberg that by the end of the year, one BTC would be able to buy Lambo – alluding to the realisation of the Crypto Twitter phrase ‘when lambo’ for when one Bitcoin would buy a Lamborghini. He also predicted that the end of 2022 would see ‘one bitcoin per Bugatti’.

But Bitcoin peaked at just above $69,000 in November last year before closing 2021 around $46,000. The bearish extension into 2022 saw the flagship crypto asset plummet to lows of $17,600 in June, and currently trades below $23,680 after another rejection at the $25k level.

Despite this, a bullish Powell believes it’s still possible for Bitcoin to rally as the year ends for the Lambo and Bugatti dream to come true. However, he does not want to hold his hopes out, especially after what unfolded in 2022.

“I wasn’t expecting all of this crazy, craziness in the macro environment,” he stated, noting that this doesn’t mean he is now bearish.

“I’m still very bullish. I bought Bitcoin again at $18,000 so I’m happy to ride it all the way back up. I’m still very bullish in the long run. You know, the fundamentals keep improving so I would never bet against Bitcoin,” he explained.

Powell’s comments come as the crypto industry looks to exit the rough terrain that has characterised the last several months.

The post I would never bet against Bitcoin, Kraken CEO says appeared first on CoinJournal.