Schlagwort: crypto business

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Sports betting revenue is soaring as Chancer sale nears $1.4M

  • Sports betting and gambling companies published strong financial results.

  • Chancer token has raised almost $1.4 million in the past few weeks.

Sports betting and gambling revenue jumped in the first half of the year as demand for the services rose. Recently released financial results by companies like Penn National, Entain, and Flutter Entertainment. At the same time, Chancer, an upcoming betting platform that uses the blockchain technology, has raised almost $1.4 million in the past few weeks.

Betting revenue is soaring

Publicly-traded companies in the sports betting and gambling companies have published strong financial results in the past few weeks. Flutter Entertainment, the parent company of Fanduel, PokerStars, Paddy Power, Sisal, and Betfair, said that its revenue jumped by 42% in the first half of the year. It made over 4.8 billion in revenue as the number of users soared by 28%. In his statement, the head of Flutter said:

“We acquired over two million new players in the period, cemented our leadership position in sports and grew our share in iGaming to 23%. The US business was profitable in the first half with FanDuel generating over $100m in EBITDA.”

Similarly, Entain had a strong performance, offset by a huge fine in Turkey. Its revenue jumped by 19% in the first half of the year. Most of this growth came from the United States, where the company owns several brands. Its gaming revenue rose by 22%.

DraftKings, one of the leading players in the industry also recorded strong results as the company nears profitability. Its revenue jumped to over $874 million in Q2 and EBITDA coming in a positive territory.  

Other companies in the sector like Penn National, 888 Holdings, and Churchill Downs have all reported strong financial results. As a result, most of these stocks have jumped by more than 20% this year. Entain has underperformed because of the company’s legal issues.

Chancer is set to thrive

All these numbers mean that Chancer is set to thrive when its product launches later this year. For starters, Chancer is a company that is building a unique beting platform where people from around the world can participate.

Its global nature is enabled by the company’s use of blockchain technology. $CHANCER, its crypto token, will help to facilitate payments in its ecosystem. Also, holders will be able to create their market, live stream them, and then make money when people place bets on them. 

Also, $CHANCER holders will take part in the network’s governance, where they will be able to vote on key issues. As owners of the platform, they will receive a share of the profits that the network generates. All these features are different from traditional companies that are managed centrally. You can buy the Chancer token here.

While Chancer token has more room to grow, investors should always do their own research before investing.

The post Sports betting revenue is soaring as Chancer sale nears $1.4M appeared first on CoinJournal.

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Regulated buy-and-sell arm of Binance, Binance Connect, shutting down

  • Biswap already announced turning off Binance Connect on their website at 01:00 PM UTC, August 15, 2023.
  • Binance made the difficult decision after its provider closed the supporting card payments service.
  • Binance has been facing quite some regulatory challenges lately.

In a surprise announcement on August 15, Binance has through a representative confirmed that it will be closing its licensed buy-and-sell cryptocurrency arm on August 16. The company’s representative said:

“At Binance, we periodically review our products and services to ensure that our resources continue to be focused on core efforts that align with our long-term strategy. In the last six years, Binance has grown from being an exchange to a global blockchain ecosystem with multiple business lines. We consistently adapt and modify our business approach in response to changing market and user needs.”

The same has also been confirmed by BNB Chain decentralized exchange Biswap through a tweet stating that the exchange has disabled Bnance Connect.

The announcement comes right on the heels of Binance US filing to limit the US SEC from overstepping its investigation boundaries according to an earlier agreement. Binance and its subsidiaries have been facing increased regulatory handles, especially in the US where it is being accused of offering unregistered securities alongside its rival Coinbase.

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ApeCoin, Oasis Network, Injective prepare for token unlocks

  • ApeCoin will unlock tokens worth over $31.4 million this week.

  • Oasis Network will also unlock tokens worth over $8 million.

  • Injective will also release more tokens this week.

Some of the most popular cryptocurrencies are having their token unlock events this week. The Sandbox unlocked millions of tokens, leading to a major dilution among holders. This dilution, helped push the SAND token to the lowest level since June.

According to TokenUnlocks, ApeCoin, Oasis Network, and Injective will flood the market with additional tokens this week. ApeCoin, the native token by Bored Ape Yacht Club (BAYC), will release additional 15.6 million tokens on Wednesday. 

These tokens represent about 4.3% of the total circulating supply and will be worth $31.5 million. Most of them will go to Treasury followed by Yuga Labs, Yuga Labs founder, and launch contributors. The last ApeCoin token unlock will happen in June 26th.

ApeCoin’s token unlock will come at difficult for the ecosystem as demand for BAYC prices retreat. Its price has plunged by over 68% from the highest level this year.

Oasis Network, a smart chain platform, will unlock additional ROSE tokens worth over $8 million. Its last token sale happened in May 18th when the developers unlocked 199.50 million tokens. These tokens will go to partners and reserve, core contributors, and the community. The last token unlock will happen in February 2031.

The last major token unlock will be Injective, the DeFi-focused blockchain backed by Mark Cuban. Injective will release tokens worth over $20 million on Sunday, with most of them going to the ecosystem developers. Injective’s final vesting will happen in April 2024.

In most cases, token unlocks tend to be bearish for cryptocurrencies since they lead to more dilution. They are often seen as the reversal of share buybacks in the corporate sector.

How to buy ApeCoin

Nexo

Since 2018 Nexo has strived to bring professional financial services to the world of digital assets. Leveraging the best of the team’s years of experience in FinTech along with the power of blockchain technology, Nexo empowers millions of people to harness the value behind their crypto assets, shaping a new, better financial system.

Buy APE with Nexo today

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Logan Paul faces backlash after $1M bet proposal

  • Logan Paul will face Dillon Danis in a bocxing match on October 14.
  • Paul, a social media personality and WWE star, is willing to bet $1 million he will win. The bet has attracted widespread criticism.
  • Meanwhile, decentralised betting platform Chancer has raised over $1.3 million in presale.

YouTuber and WWE personality Logan Paul is buzzing for his next event – a boxing bout against Brazilian Dillon Danis. The match is set for October 14 in Manchester, England. Paul, whose YouTube fame has catapulted him into lucrative deals in combat sports, is confident he will beat Danis and is willing to bet $1 million on it.

The bet proposal has been heavily criticised across crypto – we tell you why and explain why legit bets such as Logan Paul’s could find a home on a new blockchain-based betting platform called Chancer.

Logan Paul’s $1 million bet – what’s the criticism?

28-year old Logan Paul has had some high-profile matchups, including an exhibition bout against Floyd Mayweather. His appearances on WWE have also been great shows. 

Now he’s hyping up his upcoming boxing match against Dania, a 29-year old jiu-jitsu black belt holder and trainee of former UFC champion Conor McGregor.

Paul is confident he will beat the Brazilian and has proposed a $1 million bet with McGregor. 

The move has been heavily criticised across the crypto community, with many criticising the social media personality for considering such a bet when he hasn’t followed through with a promise to reimburse victims of his CryptoZoo (ZOO) project.

CryptoZoo launched in 2021, promising a cryptocurrency game powered by the ZOO token and NFTs. The project rallied (read more here) as NFTs exploded onto the scene during the bull market. However it has largely failed to live up to projections and Paul said earlier this year that he’d make it right with the affected investors.

That hasn’t happened yet and the latest events where he’s willing to bet $1 million on a match’s outcome has left many unamused. Shouldn’t he be using that money to refund CryptoZoo NFT buyers? Danis himself had a go at Paul via a post on X (fka Twitter).

While Logan Paul comes under fire for his crypto “scam”, the one thing that one can take from his bet proposal is that betting is here to stay. And so is crypto and, likely, the new betting project Chancer.

What’s unique about Chancer?

The gambling and betting sector is one major global industry, currently projected to grow double figures annually for the next ten years. Traditional bookmakers will no doubt see this growth. But investors are taking note of a potential game-changer for the whole industry – Chancer?

Chancer is an online betting platform built on blockchain and offering a revolutionary model that could transform betting for millions of people. This is because unlike centralised betting companies, Chancer will allow users to create their own bets on thousands of events, from mainstream sports, esports, and entertainment and so on.

On Chancer, users can set their own odds and play by their own rules, including live streaming bets to invite others from across the globe to join. The peer-to-peer platform could therefore grow into the leading decentralised social betting platform in the world.

Learn more about how Chancer works here.

Global investors flock to Chancer, over 31 million tokens sold in weeks

Chancer is looking to disrupt an $80 billion global gambling industry with its new blockchain-based betting platform. Investors have taken note of the potential for the project’s revolutionary offering and are aggressively allocating funds to help bring it to the market.

That sentiment is what’s likely behind the huge interest in the native $CHANCER token, whose presale has been one of the few highlights of an otherwise dull summer for crypto. So far, investors have scooped more than 31 million $CHANCER tokens, helping to raise over $1.3 million.

The presale currently has $CHANCER tokens priced at $0.011 and investors can buy with ETH, BNB, USDT and BUSD.

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New Zealand crypto exchange Dasset faces liquidation, customer funds trapped

Key takeaways

  • Crypto exchange Dasset has denied customer access to funds. 

  • The New Zealand-based crypto exchange has gone into liquidation. 

Dasset denies customers access to funds

Auckland-based crypto exchange Dasset has denied customers access to their funds as it faces liquidation. This is according to a report by The Herald earlier today. 

According to the report, some customers have tens of thousands of dollars worth of crypto trapped on the platform. 

A customer told The Herald that they had been trying to withdraw $40,000 — their entire life savings — from their Dasset account for three months. However, their attempts had been unsuccessful. 

Another customer revealed that had been direct-credited by the company’s CEO, Stephen Macaskill. However, they were still unable to access the funds in their account. 

The CEO said the company has been unable to find a replacement banking provider after losing its previous provider earlier this year. He added that Dasset has gone into voluntary liquidation, and the company has appointed a liquidator. 

However, a liquidator hasn’t been approved, and the customers are still unable to access their funds. 

Dasset still accepting new users

The cryptocurrency exchange is still accepting new users despite a halt in withdrawals. 

The company has removed email addresses and phone numbers from their website. However, a request form is still available. 

Dasset is the latest in a long line of cryptocurrency exchanges to face financial challenges. Last year, FTX, one of the leading crypto exchanges at the time, filed for bankruptcy following some financial mismanagement by the CEO and other executives. 

Auckland-based Dasset exchange was launched in 2017. However, compared to Binance, which was launched around the same period, Dasset remains a relatively small cryptocurrency exchange. 

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