Schlagwort: crypto business

Veröffentlicht am

Coinbase to buy back up to $150M of its $1B bonds

  • Coinbase’s partial bonds buyback targets up to $150 million of the $1 billion bonds.
  • City Global Managers will be the offer’s dealer manager.

Coinbase said on Monday that it is commencing a partial repurchase of its $1 billion bonds.

Per the company, whose Q2, 2023 financial report came in stronger than forecast, the plan is to buy back up to $150 million of the 3.265% bonds. The bonds are set to mature in 2031.

Offer expires on September 1

A press release from Coinbase indicated that investors who tender their Notes for the purchase program before August 18 will be eligible for an early buy offer that includes a $30 premium. This group of holders will receive $645 per $1,000 of the bond’s principal amount, translating to 64.5 cents on each dollar.

Meanwhile, participants who validly offer to sell their bonds after August 18 but before the offer’s expiry date of September 1 will get $615 per $1000 of the bond’s principal value. In any case, both sets of participants will see a premium return on unaffected, preannouncement bond price of 60 cents per dollars’ worth.

Coinbase reported $708 million in revenue for the second quarter, beating analyst estimates of $628 million by more than 13%. Adjusted earnings per share loss came in at $0.42, compared to forecasts of $0.76.

Citigroup Global Markets will be the buyback program’s Dealer Manager.

The post Coinbase to buy back up to $150M of its $1B bonds appeared first on CoinJournal.

Veröffentlicht am

Litecoin price forecast: Brace for more weakness

  • Litecoin price has slumped in the past few weeks as it ignored key events.

  • It went through its third halving that reduced its block rewards last week.

Litecoin price has underperformed the market as the hype surrounding the halving event waned. LTC price dropped to a low of $80, the lowest level since June 21st. It has dropped by more than 28% from the highest point this year. 

Litecoin’s price action is a reflection of the overall performance of the crypto industry. Bitcoin, its biggest peer, has remained at the $29,000 level in the past few weeks. Similarly, the total market cap of all cryptocurrencies has remained at $1.12 trillion.

Litecoin price has ignored several important events in the ecosystem. Last week, it went through halving, a process that reduces the block rewards to miners in its ecosystem. Historically, Litecoin and other cryptocurrencies tend to show some volatility before and after a halving event.

Further, it reacted mildly to last week’s credit rating downgrade of America’s debt by Fitch, one of the big three credit rating agencies. In an ideal situation, the credit rating downgrade should have been a good for Bitcoin and other cryptocurrencies because they are designed to be anti-US dollar.

Meanwhile, on-chain metrics shows that the number of Litecoin transactions has been a bit muted in the past few months. On a positive side, the hash rate has remained at an all-time high of 800 TH/s. 

Hash rate is an important metric that looks at the computational power of a network. In most cases, a strong hash rate means that the network is healthier.

Litecoin price prediction

The future price action of Litecoin price will depend on the performance of Bitcoin since the two have a close correlation. On the daily chart, the LTC price has dropped below the important resistance level at $105.75, the highest point in February. 

Most importantly, Litecoin has formed what looks like a head and shoulders pattern, which is usually a bearish sign. It has also dropped below the 50-day and 200-day moving averages. The two averages are about to make a bearish crossover, which is known as a death cross.

The coin has also formed a bearish flag pattern. Therefore, the outlook for Litecoin price is bearish, with the next level to watch being at $71.20.

How to buy Litecoin

eToro

eToro is a multi-asset investment platform with more than 2000 assets, including stocks, ETF’s, indices, commodities and Cryptoassets. eToro offers over 60+ Cryptoassets to invest or invest in their CryptoPortfolio where investors can benefit from the accumulated growth of Bitcoin, Ethereum, XRP, Litecoin and other leading cryptocurrencies. eToro users can connect with, learn from, and copy or get copied by other users.

Buy LTC with eToro today

Skilling

Skilling is a regulated Forex and CFD broker that allows traders to access 800+ financial instruments, including 10 popular cryptocurrency CFDs with competitive pricing and fast execution time. Skilling offers a selection of trading platforms, including the proprietary Skilling Trader and popular, industry renown cTrader and MetaTrader 4 platforms, which can suit the needs of customers with different levels of trading experience.

Buy LTC with Skilling today

The post Litecoin price forecast: Brace for more weakness appeared first on CoinJournal.

Veröffentlicht am

Concerning revelation: PayPal’s stablecoin can wipe out account balances

  • PayPal launched its stablecoin on the Ethereum blockchain.
  • Huobi has already announced it will launch the new stablecoin.
  • The PYUSD has an “assetProtection” role that can wipe your balance in two transactions (first `freeze`, then `wipeFrozenAddress`).

The recently launched Paypal stablecoin, the Paypal USD (PYUSD), has been reviewed by Pashov, an expert in smart contracts security reviews. The PYUSD was announced on August 7 and a brief review has shown some unsettling revelations as posted by Pashov on X platform on the same day that the stablecoin was launched.

According to Pashov, selected development team members at PayPal will be able to execute delicate code functionalities like freezing accounts and cleaning frozen account balances using the “assetProtection” role.

USDT and USDC have similar attack vectors

While a majority of crypto enthusiasts expected PayPal’s stablecoin to stand out, Pashov’s revelation revealed that the new Paypal USD stablecoin is no different to USDT and USDC in terms of security.

The PayPal USD (PYUSD), the Tether (USDT), and the USD Coin ( USDC), all have “assetProtection” role, which in smart contract security is referred to as a ‘centralization attack vector.’”

The feature makes PayPal stablecoin a centralized stablecoin just like a majority of other popular stablecoins.

The post Concerning revelation: PayPal’s stablecoin can wipe out account balances appeared first on CoinJournal.

Veröffentlicht am

Bitstamp is raising funds to expand services in Asia and Europe: Bloomberg report

TL;DR

  • Bitstamp wants to raise funds to expand its services in Asia and Europe. 

  • Galaxy Digital Holdings is acting as an adviser for the platform in its funding venture.

Bitstamp seeks to expand the number of markets it serves

Bitstamp, one of the oldest crypto exchanges, has revealed that it is currently in talks with investors to raise fresh funding.

This is according to Bitstamp’s CEO, Jean-Baptiste Graftieaux. The CEO told Bloomberg that the cryptocurrency exchange began the fundraising process a few weeks ago, and Galaxy Digital Holdings serves as its adviser. 

The cryptocurrency exchange will use the funds to expand its operations. Bitstamp wants to launch its derivatives trading service in Europe by next year and will also expand the number of markets it serves in Asia. The company will also expand its operations in the U.K.,

While commenting on this latest cryptocurrency news, Jean-Baptiste Graftieaux stated that;

“Bitstamp is not for sale, and we are not actively looking to sell the company. Our current and exclusive priority is to raise money through strategic investors to accelerate Bitstamp’s growth by providing new products and services to retail and institutional crypto customers.”

Bitstamp has been expanding its business in the crypto space in recent months. In June, Bitstamp was registered as a cryptoasset business by the UK’s Financial Conduct Authority (FCA). 

By doing so, Bitstamp joined other platforms like eToro, Revolut and Moonpay on the FCA list of firms complying with Money Laundering, Terrorist Financing and Transfer of Regulations (MLRs).

Bitstamp is a UK-based cryptocurrency exchange and has been around since 2011. 

The post Bitstamp is raising funds to expand services in Asia and Europe: Bloomberg report appeared first on CoinJournal.

Veröffentlicht am

Crypto price prediction: Shiba Memu, Bitcoin Cash, Algorand

  • Shiba Memu token has raised over $1.64 million from investors.

  • It is one of the most popular upcoming crypto tokens in the world.

  • It combines key industries like AI and meme coins.

Cryptocurrency prices moved sideways even as American equities jumped. Bitcoin remained slightly above $29,000 while the total market cap dropped by 0.42% to $1.16 trillin. The Dow Jones and the Nasdaq 100 indices jumped by over 0.65% as investors embraced a risk-on sentiment. This article will look at the forecast for key cryptocurrencies like Bitcoin Cash, Algorand, and Shiba Memu.

Shiba Memu prediction

Shiba Memu is an upcoming cryptocurrency that is aiming to combine key technologies like artificial intelligence and meme coins. Its goal is to take advantage of the most hyped industries this year.

In AI, some of the best-performing companies and cryptocurrencies have been in the industry. Some of these firms are Nvidia, Microsoft, and C3.ai while the most popular crypto AI platforms are SingularityNET and Fetch.Ai.

Shiba Memu aims to be a better alternative to other popular cryptocurrencies like Shiba Inu, Dogecoin, and Pepe. It is also taking advantage of AI technology by self-marketing. It will do that by self-responding to user inquiries and grow from their feedback.

Shiba Memu will have several technologies, including Natural Language Processing (NLP), Sentiment analysis, predictive analysis, and personalization among others. 

Shiba Memu’s token sale has gained traction in the past few weeks. It has already raised over $1.6 million from global investors. The price of the token is rising on a daily basis. You can buy the Shiba Memu token here.

Bitcoin Cash price prediction

The 4H chart shows that the BCH price has moved sideways in the past few days. This price action has mirrored that of Bitcoin, which has also dropped from the year-to-date high of $31,388 to $29,000. BCH price has moved slightly above the 25-period and 50-period moving averages.

The price was also slightly above the 38.2% Fibonacci Retracement level. At the same time, the Relative Strength Index (RSI) has moved slightly above the neutral point at 60. Therefore, Bitcoin Cash price will likely remain in this range for a while. The key support and resistance levels to watch will be at $219 and $260.

Algorand price prediction

Algorand has been under pressure in the past few months. This pressure intensified recently when AlgoFi, the biggest DeFi platform in the ecosystem collapsed. ALGO price is consolidating at the 25-day and 50-day moving averages while the Relative Strength Index (RSI) drifted upwards.

The Average True Range (ATR) has drifted downwards while the price is above the key support level at $0.1043. Volume has been constrained in the past few weeks. Therefore, the token will likely remain in a tight range in the coming days. The key support and resistance levels to watch will be at $0.10 and $0.12.

The post Crypto price prediction: Shiba Memu, Bitcoin Cash, Algorand appeared first on CoinJournal.