Die Kryptobörse Gemini darf nun ganz offiziell als Virtual Asset Service Provider in Irland agieren.
21Shares lanciert zwei neue Bitcoin (BTC)- und Ether (ETH)-Produkte
Trotz des Kryptomarkteinbruchs verzeichnet die Schweizer Krypto-ETP-Firma 21Shares so hohe Zuflüsse, wie nie zuvor.
Southeast Asian crypto exchange Zipmex halts withdrawals
Zipmex, a Thai-based crypto exchange, has halted withdrawals citing a combination of circumstances. The Southeast Asian exchange has halted withdrawals until further notice.
A tweet by the exchange said:
“Due to a combination of circumstances beyond our control including volatile market conditions, and the resulting financial difficulties of our key business partners, to maintain the integrity of our platform, we would be pausing withdrawals until further notice.”
Failed acquisition by Coinbase
Prior to the halting of withdrawals, Cointelegraph had issued reports that Zipmex could be in trouble but the crypto exchange ended up dismissing that as just rumors. This came after a failed acquisition of Zipmex by Coinbase.
Responding to Cointelegraph, the CEO and co-founder of Zipmex, Marcus Lim, said:
“While Coinbase is an interesting partner, an investor makes more sense at this stage.”
Lim went ahead to explain the reason for the failed acquisition saying:
“The acquisition fell through due to market conditions. They’ve pulled out in many countries around the world such as Turkey and in Latin America. Coinbase is a great strategic partner to the business.”
Coinbase had made an offer to acquire Zipmex in the first quarter of 2022 but the acquisition plan fell on June 9. However, Coinbase went ahead to make a strategic investment into the Thai-based crypto exchange.
Other than halting withdrawals, there are reports that Zipmex is planning for a Series B+ that could value it at $400 million.
By August 2021, Zipmex had reached a 200,000 user base with over $1 billion in gross transaction volume since it was launched in 2019.
Zipmex troubles
According to sources some funds, about $100 million from Zipmex were given to Hong Kong-based asset manager Babel Finance with the aim of generating yield. However, there is a risk of default since Babel halted withdrawals in June due to unusual liquidity pressures resulting from the crypto market meltdown and hasn’t resumed the withdrawals.
Though not confirmed, there are fears that Zipmex could go the way of Celsius, which has already filed for bankruptcy seeking financial restructuring.
The post Southeast Asian crypto exchange Zipmex halts withdrawals appeared first on CoinJournal.
Why Business Owners Should Explore Forex Currency Pair Trading
If you’re an entrepreneur, you’re probably always looking for new ways to maximize your income. This is why an increasing number of investors are turning to the forex market. The international currency trade is the most important economic market in the world. Traders select currency pairs and attempt to predict the next move in value with the aim of profiting from that move.
Inexperienced currency traders may wonder why they should trade currency pairs rather than more traditional investments like stocks and bonds. Many established businesses find this intriguing because of the four patterns.
As for getting started, it’s very simple and inexpensive
With minimal initial outlay and simple economic resources, Forex trading is a money-making opportunity for many businesses. Due to the digitization of this new market, all you need to get started is a workstation, a forex broker account, a broadband connection, and some basic knowledge.
Be sure to do your due diligence on any broker you are considering before signing up. Investing in currency trading does not require a huge initial outlay. It won’t cost as much as starting a new business or moving to a new area.
Are you looking to grow your business? AvaPartner can save you the day. Why? You will have access to professional banners, landing pages and other promotional tools to increase your commissions and customer base. AvaPartner is the name of the affiliate network offered by AvaTrade, an award-winning online currency trading platform.
Improve your personality
Entrepreneurs lead a demanding lifestyle. Trading currency pairs is a convenient option as it can be done even if one only has an hour of free time per day. Also, using social trading makes the process much more reasonable.
Since the forex market is open 24 hours a day, 7 days a week, you can conduct financial transactions whenever it suits you. This means that you can engage in currency trading while still being able to conduct and operate your business effectively.
High liquidity
The level of buying and selling activity in a financial market defines its liquidity. This means that the forex market contains a large number of buyers and sellers who are matched in a split second. Because of this, traders are more likely to profit from their trades as they can buy and sell currency pairs at prices that fall within a respectable range.
Due to this factor, the foreign exchange market is quite liquid. A low probability of price manipulation by a select group of large participants is linked to high market liquidity. It is extremely difficult to manipulate prices in the market due to the huge liquidity and size of the market.
The ability to generate income quickly.
In order to make big profits, several companies trade currency pairs on the international forex market. Every day, the forex market processes trillions of dollars worth of transactions.
Anyone who knows how to trade and uses the perfect combination can make a lot of money quickly. When it comes to forex, unlike stocks, you can generate income in just one day of trading.
The post Why Business Owners Should Explore Forex Currency Pair Trading appeared first on CoinJournal.
Bitcoin (BTC) legt immer weiter zu, kommt jetzt die Trendwende?
Dank einem schwächelnden US-Dollar ist Bitcoin wieder im Aufwind, und nimmt nun zwei wichtige Trendlinie in Angriff, um den Bärenmarkt zu kippen.