Schlagwort: crypto business

• The partnership between Figment and Bitvavo underscores the growing significance of staking services in the cryptocurrency industry.
• Both entities aim to unlock new opportunities and enhance the overall user experience by combining their expertise and resources.
• With Bitvavo’s expansive reach and Figment’s proven track record in staking infrastructure, the collaboration is poised to reshape the landscape of staking services in Europe.

Netherlands-based cryptocurrency exchange Bitvavo is set to bolster its staking services across Europe through a strategic partnership with institutional staking platform Figment.

With a user base exceeding 1.5 million in the Benelux region, Bitvavo aims to elevate its offerings, tapping into Figment’s expertise and infrastructure to provide enhanced staking capabilities to its customers.

Expanding staking services with Figment

The partnership between Figment and Bitvavo signifies a strategic move towards offering additional security measures and expanding staking opportunities.

Bitvavo CEO Mark Nuvelstijn underscored the importance of staking in the cryptocurrency landscape, recognizing it as a vital service for their vast user base.

By collaborating with Figment, a prominent player in staking infrastructure, Bitvavo aims to fortify the security and reliability of its staking services. Figment’s comprehensive market knowledge and track record position them as a valuable partner in this endeavour.

Leveraging Figment’s institutional-grade infrastructure, the Dutch-based crypto exchange will stake user assets across multiple proof-of-stake protocols, including Ethereum, Solana, and NEAR Protocol.

Bitvavo’s European expansion

Bitvavo’s expansion into Europe has been marked by steady progress and regulatory compliance.

Following regulatory approval to operate in Austria, Bitvavo successfully launched its services in Italy in 2022.

In addition, the recent approval from France’s Autorité des Marchés Financiers (AMF) enabled Bitvavo to extend its offerings to French users.

These expansions align with Bitvavo’s commitment to providing accessible and compliant cryptocurrency services across Europe.

The post Bitvavo taps Figment to enhance staking services in Europe appeared first on CoinJournal.

• Changpeng Zhao sentenced to four months in prison despite DOJ’s request for a longer term.
• Crypto market dips after Binance founder’s sentencing; BTC and ETH prices decline.
• Kangamoon presale gains momentum raising over $6 million with over 79% $KANG tokens sold.

The global crypto market experienced a downturn, with a significant 8.17% decrease, following the sentencing of Changpeng Zhao, the former CEO of Binance. Bitcoin (BTC) and Ethereum (ETH) prices are leading, with BTC dropping by 9.03% and ETH by 9.16% over the last 24 hours.

At press time, BTC was priced at $57,454.33, while ETH stood at $2,867.59. But as most cryptocurrencies dip, Kangamoon, a new meme coin, is offering an alternative opportunity with its ongoing presale.

Changpeng Zhao’s sentence after DOJ’s request rejection

c, known as “CZ,” was sentenced to four months in prison after pleading guilty to money laundering violations at Binance.

As reported earlier, Zhao’s sentencing came after U.S. District Judge Richard Jones declined the Department of Justice’s (DOJ) request for a longer imprisonment of three years.

Despite the significant penalties imposed on Binance, Zhao’s sentence was notably shorter, reflecting the judge’s decision.

The prosecution had argued for a longer sentence, emphasizing the severity of Binance’s misconduct. They accused Zhao of prioritizing the exchange’s growth and profitability over compliance with U.S. laws, leading to a “Wild West” environment that welcomed criminals. They also highlighted Binance’s failure to report suspicious transactions involving designated terrorist groups and its support for the sale of illicit materials.

In response, the defence maintained that Zhao’s actions were not intentional criminal acts but rather mistakes in judgment. They emphasized Zhao’s cooperation with authorities and his willingness to take responsibility for Binance’s shortcomings. They argued that Zhao had aimed to make a positive impact in the crypto industry but had made errors along the way.

In the end, the judge handed Zhao a 4 months prison sentence, which was viewed as lenient compared to what the U.S. DOJ wished for.

Despite the judge’s decision to impose a shorter sentence, he criticized Zhao for neglecting regulatory compliance. Judge Jones emphasized that Zhao had the resources and capabilities to ensure Binance’s adherence to regulations but had failed to do so effectively.

The judge’s remarks underscored the importance of upholding legal standards in the rapidly evolving crypto landscape.

A new meme coin thrives in presale as market dips

As the market reacts to the Changpeng Zhao sentencing, Kangamoon is contending for the next top meme coin position.

Contrary to other meme coins that have only capitalized on community involvement, Kangamoon integrates SocialFi and Play To Earn (P2E) elements to foster a vibrant community of meme enthusiasts.

Kangamoon participants can engage in activities like assembling champions, battling epic encounters, and betting on favourite fighters to earn the native $KANG tokens and exclusive rewards.

$KANG token is an ERC-20 token and operates on the Ethereum blockchain boasting a max supply of 1 billion tokens out of which 600 million tokens are available for purchase in the ongoing presale event.

Kangamoon presale

The Kangamoon presale has attracted considerable attention and has raised over $6 million, with 79.3% of tokens set aside for the presale sold and 20.7% remaining.

As participants eagerly anticipate claiming their $KANG tokens post-presale, which will be accessible via the project’s website through a simple claim button interested investors can still purchase $KANG tokens at a price of $0.0196 before the presale comes to an end.

Conclusion

The crypto market faces a downturn following Changpeng Zhao’s sentencing, with Bitcoin and Ethereum prices declining.

However, while the rest of the market slides into red, the Kangamoon project continues to gain momentum, with its $KANG token presale attracting significant investment interest.

The post This new meme coin presses on as most cryptocurrencies slide after CZ sentencing appeared first on CoinJournal.

• The judge has diverged from DOJ’s 36-month proposal.
• Some believe the judge is leaning towards a 10 to 16-month sentence.
• Changpeng ‘CZ’ Zhao is accused of violating the Bank Secrecy Act.

In a pivotal turn of events, the sentencing hearing for Changpeng ‘CZ’ Zhao, the former CEO of Binance, has taken a surprising twist.

Judge Richard Jones has signalled a departure from the harsh sentencing proposed by the United States Department of Justice (DOJ), favouring a more lenient approach.

Judge Jones leans towards leniency

In the ongoing court hearing, Judge Jones expressed scepticism towards the DOJ’s push for a lengthy prison sentence, opting instead to align with the recommendation put forth by the Probation Office.

This recommendation suggests a jail term of 10 to 16 months for Zhao, a stark contrast to the 36 months sought by the DOJ.

Zhao’s guilty plea and community support

Zhao’s legal woes stem from a one-count charge of violating the Bank Secrecy Act, to which he pleaded guilty and resigned from Binance.US board.

After Changpeng ‘CZ’ Zhao’s admission of guilt, he garnered widespread support from the crypto community, with family and friends rallying behind him and sending letters of support.

What Zhao’s sentencing mean for Binance

The outcome of Zhao’s sentencing holds significant implications, particularly for Binance, the cryptocurrency exchange he co-founded.

With Zhao’s conviction potentially affecting the France outpost, where he maintains full ownership, Binance’s pursuit of a European License under Markets in Crypto Asset (MiCA) rules by 2025 could face hurdles.

The post Changpeng ‘CZ’ Zhao faces reduced jail time as judge rejects DOJ request appeared first on CoinJournal.

• Klaytn token KLAY is now available for trading on Coins.ph, the Philippines’ largest crypto exchange.
• The exchange has added support for KLAY/PHP.

Klaytn (KLAY) is now listed on Coins.ph, the largest crypto exchange in the Philippines.

The blockchain network for the metaverse, GameFi and the creator economy announced the major news on Tuesday. It noted that the native Klaytn token KLAY is now available for trading on the Bangko Sentral ng Pilipinas (BSP)-licensed crypto exchange.

BSP is the Philippines’ central bank.

🚀 Exciting news! 🎉 $KLAY lands on the largest exchange in the Philippines, @coinsph🇵🇭

Filipinos and @coinsph users, seize the opportunity to trade now! https://t.co/GfJzR8x46b

Join us as #Klaytn expands across Asia and beyond🚀 https://t.co/ESYKZqXLop

— Klaytn (@klaytn_official) April 30, 2024

Klaytn launched in 2019 and is one of the leading blockchain platforms in South Korea.

Coins.ph’s listing of KLAY means Filipinos now have a chance to trade one of the tokens underpinning a growing ecosystem in the metaverse and blockchain gaming market.

KLAY price outlook

Following the crypto exchange listing, KLAY is available in the KLAY/PHP trading pair. The listing adds to Klaytn’s availability on major exchanges that include Binance, OKX, Bitget and Crypto.com.

The price of KLAY was $0.17 at the time of writing, down 7% in the past 24 hours and -33% in the past month. KLAY has declined nearly 50% since surging well above $0.32 in early 2024 amid news of the blockchain network’s merger with Finschia (formerly LINE blockchain).

Klaytn price reached an all-time high of $4.34 in March 2021, which puts the current prices more than 90% off those highs.

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