Schlagwort: crypto business

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Binance says it froze Baking Bad account after law enforcement request

  • Binance said it had frozen the account in response to a law enforcement request.
  • Baking Bad claims it’s been unable to contact the said law enforcement and doubts if there’s such a request.

Binance has responded to accusations of freezing a major client’s account, with $1 million in it, by stating that the action followed a law enforcement request.

On Thursday, Tezos tool contributor Baking Bad tweeted that Binance has “blocked” their corporate account since 1 July without offering any explanations. The exchange had also gone ahead to set the account’s balances to zero, according to @TezosBakingBad.

“We have all the materials to begin the investigation and inform the community,” they noted.

Binance has refuted the claims, noting via statement posted on the exchange’s official Twitter account:

“The account in question was restricted as the result of a law enforcement request, which @TezosBakingBad is well aware of, as he was already advised of this multiple times and provided the LE contact form through our support chat system on 7/6, 7/12, and 7/22,”

No response raised doubts about the account freeze

Baking Bad acknowledges the contact made with Binance’s support, saying they had indeed “sent about five requests” using the law enforcement form provided. However, they hadn’t received any response, even as the stated deadline fast approaches, and believe no such request to Binance to freeze the account was made.

But noting it has nothing to do with the lack of contact or seizure of funds, Binance said what it has done with regard to the matter is “cooperate… the same as any other exchange” [would].

Asking Baking Bad not to mislead the community and that doing so wouldn’t change anything, Binance added:

“There is a process to contest the seizure with the agency should you wish to pursue that path. But that is done through the agency, Binance has zero control over that process.”

Neither Binance nor Baking Bad have disclosed the law enforcement in question, but there is reference to an EU entity and Binance EU.

The post Binance says it froze Baking Bad account after law enforcement request appeared first on CoinJournal.

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Top Cheap Cryptocurrencies that can easily 10x your money

Bitcoin continues consolidating around the $21k level, and selling volumes are dropping. It is an indicator that the bottom could be in, and what could follow is a steady rise over time before another blow-off top at some point in the future. However, for someone looking for mega gains in the next bull run, Bitcoin may not be the most ideal.

Most analysts expect Bitcoin to hit a peak of $100k in the next bull run. That’s close to 5x its current price. However, 5x is no big deal in crypto circles, where gains of 100x or more are usually possible in bull markets. For such gains, it is best to start looking into cheap altcoins with the potential for explosive growth. If you are unsure of which altcoins hold such potential, below are 3 of them that you should consider.

Shiba Inu (SHIB)

In 2021, Shiba Inu (SHIB) took everyone by surprise when it rallied by over 40,000,000%. However, it has since taken a hit, but there is still a lot of potential for Shiba Inu to do even bigger things in the next bull run. That’s because Shiba Inu’s recently introduced burn tool is taking vast amounts of SHIB out of circulation.

For context, more than 300 million SHIB tokens have been burned out of circulation this week alone. Over time, this accelerated burn rate will help drive up the price. That’s because the demand will continually be chasing an ever-declining number of tokens. With this burning tool in place, you can’t rule out the potential for SHIB to hit $0.1 at some point in the future.

XRP (XRP)

XRP (XRP) did not do so well in the last bull run and failed to retest the highs it last hit in 2017. That aside, XRP has proven to be one of the most resilient cryptocurrencies. Even with the SEC case against Ripple, and the current crypto bear market, XRP is still holding on to its value pretty well.

It is also noteworthy that whales seem to be accumulating on this cryptocurrency. Today, Whale Alert has posted that XRP worth $20 million has been transferred from an exchange to an unknown wallet. It could indicate that big-money investors are taking a more long-term approach to XRP. When you combine this with the fact that Ripple could win the case against the SEC, it becomes clear that XRP could be a gem in the rough at current prices.

Cardano (ADA)

Cardano (ADA) is one of the top cryptocurrencies with high potential and is cheap at the moment. One thing that makes Cardano stand out is that its popularity amongst investors is on the rise. For instance, in the latest brand intimacy rankings, Cardano ranks higher than well-known brands like BMW and IKEA.

It also ranks higher than Bitcoin, which is quite surprising because Bitcoin is the largest cryptocurrency in the market. It’s a good indicator because once bulls return to the market, Cardano could experience a surge in volumes, a factor that could positively impact its price.

The post Top Cheap Cryptocurrencies that can easily 10x your money appeared first on CoinJournal.

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Bitcoin price drops below $21k as markets react to Powell’s inflation remarks

  • Bitcoin price fell sharply on Friday to break below $21,000 following remarks by Jerome Powell.
  • The downside followed a similar reaction on Wall Street, with S&P 500 falling 2%.
  • Powell said in his Jackson Hole speech that the Fed would remain aggressive till the “job is done.”

Bitcoin (BTC/USD) retreated below $21,000 on Friday afternoon, touching lows of around $20,700 at the time of writing.

The declines, which follow US Federal Reserve Chair Jerome Powell’s Jackson Hole speech, could see the cryptocurrency’s price retest support levels at $20,000 or lower.

Fed to keep raising rates

The Jackson Hole symposium, which brings together central bankers, economists and other key policymakers, is an annual event that has often come with increased market volatility around highly anticipated commentary.

So, after Powell maintained a hawkish stance, reiterating that the central bank will raise interest rates “until the job is done” on inflation, both stocks and cryptocurrencies – risky assets – have dipped sharply.

The S&P 500 is down 2%, the Nasdaq has shed nearly 2.6% and the Dow Jones Industrial Average has declined more than 500 points, or -1.6%.

Bitcoin price is down nearly 4% and looks vulnerable to new losses to the main support level at $20K, which analysts see as very important to bulls’s short term plans.

The post Bitcoin price drops below $21k as markets react to Powell’s inflation remarks appeared first on CoinJournal.

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Bitcoin Depot to list on the Nasdaq in $885 million SPAC deal

Bitcoin Depot expects to list on the Nasdaq under the ticker BTM early next year.

US-based crypto ATM provider Bitcoin Depot will go public in the US by early 2023, according to details the firm shared via a news release.

Bitcoin Depot’s next growth phase comes after it struck a deal estimated at $885 million in equity value with a special purpose acquisition company GSR II Meteora Acquisition Corp. (NASDAQ: GSRM).

Bitcoin Depot Inc. to list on Nasdaq

The company’s deal with the blank check firm will see it listed on the Nasdaq as Bitcoin Depot Inc., trading under the ticker symbol “BTM.”

Brandon Mintz, the CEO and founder of Bitcoin Depot noted that the announcement marks a new milestone for the ATM provider as it looks to help more people access and buy Bitcoin and other cryptocurrencies.

“We are always looking to expand our reach so as many people as possible can access cryptocurrency to control their own money and conduct easier and simpler financial transactions,” he added.

Bitcoin Depot, North America’s largest Bitcoin teller machine operator, was launched in 2016.

The company has expanded over the years to currently count more than 7,000 crypto ATM kiosks across the United States and Canada. Partnerships with some of the leading retailers in the region has helped customers buy Bitcoin at over 8,000 locations.

Users can locate any of the ATM kiosks using the company’s mobile app, which also allows them to seamlessly handle transactions and link these to a crypto wallet.

While the firms expect to have closed the deal by Q1 of 2023, this will depend on regulatory and stockholder approvals.

The post Bitcoin Depot to list on the Nasdaq in $885 million SPAC deal appeared first on CoinJournal.

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An objective review of the Giving Block 2022

The Giving Block is a platform specifically catering to non-profit organizations. It is a solution for charities that makes accepting Bitcoin donations easy. Bitcoin has become very popular among younger users.

The platform’s goal is to educate its customers on the best crypto fundraising strategies and provide them with the tools they need to contact the most dynamically growing donor demographic in the world.

How it works

The user connects with the Giving Block’s expert team, sets up a widget and cryptocurrency donation page, and starts accepting donations. The platform’s widget is unique.

It also features automated tax receipts for donors, access to a client dashboard, support for more than 70 cryptocurrencies, expert support, the option to automatically hold donations or convert them to cash, and details about crypto fundraising strategies.

The Giving Block not only sets users up to accept crypto donations but also helps them raise funds actively. The platform supports neither low-quality cryptos nor unregistered charities and provides support following setup.

At the moment, the Giving Block’s featured fundraising projects are the Ukraine Emergency Response Fund in support of entities giving Ukraine humanitarian aid and Women & Girls Empowerment, which supports NPOs empowering girls and women across the globe. 

Another featured project is LGBTQIA+ Impact, which helps NPOs working with this community.

Other supported projects include environmental organizations, mission-driven organizations, education, well-being, and faith-based organizations. The full list of projects can be viewed at https://thegivingblock.com/donate/.

Key features

The Giving Block makes it possible to accept crypto donations, raise funds, and donate to many charities in different sectors. Major cryptos are donated to schools, charities, and other non-profits.

The Giving Block’s private client services target institutions, high-net-worth individuals, and advisors, making them unique in this area. They help clients develop corporate donation programs via non-profit partnerships and matches.

Donations can be converted to fiat automatically. The donation widget is based on copy and paste, making it very easy to use. Donors get automatic receipts.

Users of the platform can take part in various exciting campaigns, like BitcoinTuesday, and grow a crypto donor audience on social media.

Pros

The Giving Block’s software allows donors to stay anonymous and donate crypto according to their schedule. 

The website layout itself is clean and straightforward. The platform has a comprehensive database of many different non-profits that need donations. 

The site is very user-friendly. You click on the non-profit’s name and get a short but informative description of what it does.

Cons

A user on Capterra complained it was hard to get the details needed for a Gemini bank account. They added that every other element was like the classic web plugin.

Another disadvantage that has been mentioned is the relative unpredictability of the flow of cryptocurrency revenue. Usually, donations are linked to special events. The donation’s equivalent in US dollars is also hard to see when mixed with other funds in a cash transfer.

Why should you sign up with the Giving Block?

If you want to make or receive a donation in crypto, you’ll be glad to know the Giving Block features an easy setup, reliable support, and good fundraising results.

You’ll never be in a situation where you find donations blocked, open up the wrong account, can’t convert to cash, etc. 

The platform is safe, fast, and straightforward. The Giving Block has an experienced, high-quality support team with years of experience helping non-profits and their donors.

The Giving Block holds campaigns to drive more donors to the organizations that sign up with the platform. It also provides them with resources to integrate into their marketing.

What makes the Giving Block unique?

While the Giving Block isn’t the only crypto donation service in the world, it’s probably the best crypto donation solution. 

Its well-devised ecosystem for charities and non-profits to fundraise Bitcoin and altcoins helps them get funds instantly, be found by crypto donors, and even become part of a media network to support their missions.

The bottom line

The Giving Block does a better job than other platforms at integrating and promoting its users. They offer top-grade support and encourage new users to venture into a novel revenue stream. Their advice on page setup and other technicalities is irreplaceable. 

The post An objective review of the Giving Block 2022 appeared first on CoinJournal.