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Poodlana investors eye more returns amid buying opportunity

As major cryptocurrencies struggle, savvy investors know there’s an opportunity to buy low. While accumulating sats is undoubtedly a great move, the possibility of hitting a gem has traders and investors scouring the market.

Poodlana (POODL), a newly-launched cryptocurrency that captured the attention of meme enthusiasts and fashion-centric investors alike, stands out as one of the Solana meme coins that could offer a huge opportunity.

More on the project below.

Crypto losses and the likely opportunity

The current market pain isn’t the first time crypto traders are underwater on most positions. It’s also unlikely the last time many top projects will see a bounce to previous highs or surge to new highs.

What this means is that while most crypto assets continue to sink amid bearish pain, the long term view is that a recovery will happen. Bitcoin and Ethereum are top of analysts’ projections amid increased investor demand with the launch of spot exchange-traded funds. Other altcoins are also likely to bounce sharply if market conditions and catalysts align.

According to analysts at Santiment, this includes Toncoin – which has tanked 31% since news of Telegram CEO Pavel Durov’s arrest in France.  Per the Santiment analysis, traders looking for profitable deals may want to check out altcoins that have sun significantly. Such projects offer a relatively “less risky” buy opportunity.

This outlook also applies to new breakout coins, which might see a significant spike in buying activity once markets begin to rally.

What is Poodlana?

Poodlana (POODL) raised $8 million in a 30-day presale that went viral in Asia. After going live on Raydium within 60 minutes of presale closing, the project has quickly landed on crypto exchanges MEXC and BingX. POODL is also listed on CoinMarketCap and CoinGecko.

While these milestones are notable, what might set Poodlana apart from other meme coins on Solana? The potential to attract not just crypto traders, but the fashion-centric community is a plus for the new dog-themed meme coin.

As the crème de la crème of the meme fashion world, Poodlana has an upper hand over the other canine-themed tokens.

Does Poodlana offer a buying opportunity?

The advantages of having launched on the DEX and CEX platforms as indicated in the roadmap has added to community confidence. A lot of the meme coin attention is thus shifting from political tokens or PolitiFi to those with growth potential beyond the US election cycle.

Poodlana is seeing this outlook play out as the POODL token gains while most political tokens are down. If the project’s roadmap milestones such as partnerships with top industry platforms as well as in the fashion world pan out, it could be a foundation for further adoption.

Despite this bullish outlook, its worth noting that crypto and meme coins in particular are volatile and risky assets. Due diligence is always critical.

To learn more or have a glimpse into what Poodlana is, start here.

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Uniswap hit with CFTC order over illegal crypto derivatives trading

  • Uniswap hit with order by CFTC for illegal trading in digital asset derivatives
  • The decentralized exchange will pay $175,000 in civil monetary penalty and is also ordered to cease and desist from the illegal offerings.

Uniswap has settled with the Commodity Futures Trading Commission after the regulator found the decentralized exchange had violated derivatives trading regulations.

CFTC hits Uniswap with $175,000 penalty

According to the CFTC, Uniswap illegally offered access to leveraged or margined trading to retail and institutional users via a digital asset protocol on the Ethereum blockchain. The leveraged tokens on Uniswap offered access to leveraged exposure to digital assets including Bitcoin and Ethereum.

The regulator thus found the platform to have violated the Commodity Exchange Act, and has imposed a $175,000 civil penalty against the exchange.

Commenting on the penalty, CFTC said it is a reflection of the “substantial cooperation” that Uniswap Labs showed amid the regulator’s investigation.

CFTC has, however, issued a cease and desist order against Uniswap Labs.

“Today’s action demonstrates once again the Division of Enforcement will vigorously enforce the CEA as digital asset platforms and DeFi ecosystems evolve” said Director of Enforcement Ian McGinley. “DeFi operators must be vigilant to ensure that transactions comply with the law.”

CFTC’s settlement with Uniswap comes amid a fresh wave of regulatory crackdown by the US Securities and Exchange Commission. While the CFTC has said most cryptocurrencies are not securities, the SEC has taken the opposite view.

In this case, SEC has charged or issued Wells Notices to multiple crypto firms in recent months, including Consensys, Abra, Robinhood and OpenSea.

The regulator also has lawsuits against crypto exchanges Binance, Coinbase and Kraken.

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Switzerland’s 4th largest bank ZKB launches Bitcoin and Ethereum trading

  • Zürcher Kantonalbank (ZKB) now offers Bitcoin and Ethereum trading via ZKB eBanking and Mobile Banking.
  • The bank has partnered with Crypto Finance AG and will use Fireblocks for secure custody.
  • The services are available only to Swiss residents with the necessary agreements signed.

Zurich Cantonal Bank, Switzerland’s fourth-largest bank locally known as Zürcher Kantonalbank (ZKB), has taken a major step into the cryptocurrency realm with the launch of Bitcoin (BTC) and Ethereum (ETH) trading services.

Announced on September 4, this development marks a significant milestone in the mainstream adoption of digital currencies by traditional financial institutions.

ZKB has partnered with Crypto Finance AG and Fireblocks

ZKB’s new offering allows retail clients to trade and store Bitcoin (BTC) and Ether (ETH) directly through its digital platforms: ZKB eBanking and ZKB Mobile Banking. This integration provides a seamless experience for customers, who can now manage their cryptocurrency holdings alongside their traditional investments without needing separate wallets.

To ensure a secure and regulated environment for these transactions, ZKB has partnered with Crypto Finance AG, a subsidiary of Deutsche Börse Group.

Crypto Finance AG’s technology, licensed by both FINMA and BaFin, will support the ZKB’s trading operations, ensuring compliance and security.

ZKB has also developed its own crypto custody solution, with Fireblocks playing a key role in safeguarding digital assets.

This strategic moves positions ZKB at the forefront of the cryptocurrency revolution, providing a centralized platform for trading and storage that eliminates the need for clients to manage their own private keys.

According to Alexandra Scriba, ZKB’s head of institutional clients, the bank’s approach offers high levels of security and the potential for integrating other digital currencies and applications in the future.

Currently, the crypto trading services are only available to clients residing in Switzerland and to activate an account, clients must sign agreements for trading, securities, and a “Consent Declaration Disclosure.”

This cautious approach reflects ZKB’s commitment to maintaining robust security standards while expanding access to digital currencies.

ZKB’s entry into the cryptocurrency market underscores a broader trend within the banking sector, where institutions are increasingly embracing digital assets. Competitors like PostFinance are also exploring crypto services, highlighting a growing acceptance of digital currencies in traditional finance, paving the way for more integrated and accessible cryptocurrency solutions.

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Former Mt. Gox CEO Mark Karpeles to launch EllipX crypto exchange

  • Mark Karpeles to launch EllipX crypto exchange in Europe.
  • EllipX will comply with EU MiCA regulations, offering a crypto-only platform at launch.
  • Former Mt. Gox users will get a 50% trading fee discount tied to NFTs as a goodwill gesture.

Mark Karpeles, the former CEO of the infamous Mt. Gox exchange, is set to launch a new cryptocurrency exchange, EllipX, this September in Poland.

The 39-year-old entrepreneur is determined to re-enter the crypto world with a platform designed to prioritize transparency, security, and user-friendliness, aiming to help newcomers navigate the complex world of digital assets.

According to a statement issued on X, Karpeles says that he is launching EllipX Exchange to “show that exchanges can be more secure and transparent.”

Mark Karpeles targets European users with EllipX

EllipX will initially serve European users, with plans to expand globally. The exchange will start as a crypto-only platform, with the potential to add banking and fiat services later.

Karpeles has emphasized that EllipX will fully comply with the European Union’s Markets in Crypto-Assets Regulation (MiCA), reflecting a strong commitment to regulatory adherence in an industry where compliance is often a contentious issue.

Karpeles plans to implement regular third-party audits and involve third-party clearing houses like BitGo to ensure secure and transparent transactions.

Notably, EllipX will compartmentalize its operations, drawing inspiration from the New York Stock Exchange’s structure. This innovative approach will see the exchange divided into different entities, with a broker side dealing with customers, a matching side handling trades, and a storage side responsible for storing crypto and fiat.

This structure aims to eliminate the opacity that often plagues smaller exchanges, distinguishing EllipX from its competitors.

50% discount on trading fees for former Mt. Gox users

In a bid to rebuild trust with those affected by the Mt. Gox collapse, Karpeles is offering a 50% discount on trading fees at EllipX for former Mt. Gox users.

This discount is tied to non-fungible tokens (NFTs), dubbed ‘MtGoxNFT,’ released for Mt. Gox users a few years ago. While only a small number of the million affected users have claimed these NFTs, Karpeles hopes this gesture will help him reconnect with the community.

Karpeles will serve as the Chief Technical Officer of EllipX, overseeing all technical aspects of the exchange which aims to aims to set a new standard for transparency and security.

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