Bitget formally enters Turkey with a new website

  • Bitget launched a dedicated website for Turkish users on Monday.
  • Bitget Turkey features a Fiat Gateway that allows using TRY to trade.
  • TokenInsight named it among the top 4 centralised exchanged in Q1.

Bitget continues to execute on its commitment to expand globally. On Monday, the crypto exchange formally entered Turkey with a dedicated website – Bitget TR.

Turkey is a fast-growing crypto market

Its new website aims at offering localized services to the crypto enthusiasts in Turkey. The transcontinental country is rapidly growing in terms of crypto adoption.

The launch of Bitget TR enables us to provide localized, convenient, and compliant crypto services to users in Turkey.

Last month, Bitget had successfully registered as a Virtual Asset Service Provider (VASP) in Poland (read more). TokenInsight names it among the top four centralised exchanges in the first quarter of 2023.

Bitget now has a team of 1,300 across more than 60 countries and regions.

Bitget TR comes with a Fiat Gateway

More importantly, Bitget Turkey features a Fiat Gateway as well that enables local users to use TRY – the Turkish Lira to trade on the website.

The user-friendly platform allows Turkish users to easily make deposits or withdraw funds in their local currency. Gracy Chen, the Managing Director of Bitget said in a press release today:

We will continue to gain trust and recognition with the launch of more localized services in collaboration with local partners.

Bitget that has the legendary Lionel Messi as a partner continues to expand its footprint at a time when peers Binance and Coinbase are facing intense scrutiny from the U.S. Securities and Exchange Commission.

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Hut 8 secures $50 million credit facility from Coinbase

  • Hut 8 will have the option to draw $20 million and $15 million after the first tranche.
  • The $50 million loan facility will mature one year after the first borrowing, and bear interest.
  • CEO Jaime Leverton noted in a statement that the funds will give Hut 8 financial flexibility ahead of Bitcoin’s halving.

Bitcoin mining company Hut 8 Mining has announced a $50 million loan facility secured from crypto exchange Coinbase’s subsidiary Coinbase Credit.

Hut 8 will use the funds to support its operations, including closing the deal for the merger with US-based miner Bitcoin Corp (USBTC).

Financial flexibility

According to details in a press release published on Monday, Hut 8 can access the loan facility in three tranches. The first, expected to be secured shortly is a term loan worth $15 million, and there are options for further drawings of $20 million and $15 million – the second of which will be a delayed draw term facility available one to two months later.

The mining platform will be able to tap into the third tranche of $15 million 15 business days after it closes its merger with USBTC.

“This credit facility gives us additional financial flexibility,” Hut 8 CEO Jaime Leverton commented. He noted that the loan will help the company maintain its dynamic Bitcoin treasury as the market edges closer to the next Bitcoin halving.

“All amounts borrowed under the Credit Facility will bear interest at a rate equal to (a) the greater of (i) the federal funds rate on the date of the applicable borrowing, and (ii) 3.25%, plus (b) 5.0%. The Credit Facility matures 364 days after the date of the first borrowing,” the company wrote in the press release.

The credit facility will mature 364 days after Hut 8’s first borrowing and loan obligations are secured by the miner’s Bitcoin held by Coinbase Custody. 

Hut 8 stock was down 9% at the time of writing, although it remained more than 200% up in 2023 after rallying alongside cryptocurrencies. COIN shares were on the other hand trading at 2.3% higher on the day and 87% YTD.

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Binance drops its license application in Austria

  • Binance Austria GmbH has revoked its license application as a virtual asset service provider from the Austrian Financial Market Authority (FMA).
  • So far, Binance has withdrawn registration in the Netherlands and the United Kingdom.
  • The only European countries where Binance is legally operating are France, Italy, Spain, Poland, Sweden, and Lithuania.

Binance Austria GmbH, a wholly owned subsidiary of Binance, has cancelled its license registration from the Austrian Financial Market Authority (FMA) amid the increasing hitches stemming from the problems that Binance has had with financial authorities worldwide.

After facing increased regulatory obstacles from the US Securities and Exchange Commission (SEC) and in Europe, cryptocurrency exchange Binance has withdrawn its license applications in different European countries including the United Kingdom and the Netherlands as earlier reported here.

However, Binance is still legally registered to operate in Sweden, Italy, Spain, France, Poland, and Lithuania. Belgium’s financial regulator, last week, also ordered Binance to cease all services in the country.

While responding to a prominent media outlet, a Binance spokesperson said:

“We are unable to share details of our conversations with regulators, however, we remain committed to acting in compliance with our obligations wherever Binance operates. Our current focus in Europe is on ensuring that we will be in full compliance with the requirements of MiCA (Markets in Crypto Assets) when it is implemented at the end of next year.”

Binance Austria GmbH

Binance reportedly launched Binance Austria GmbH in 2022 with the aim of obtaining a license for the subsidiary.

However, the subsidiary is said to have had a hard time with the Austrian regulator leading to the decision to cut short its license application process in the wake of the global condemnation of the exchange.

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Chancer presale 35% sold out as top prediction markets tokens turn green

  • The Chancer presale has raised $357,330.51 since launch.
  • The presale seeks to raise $15 million in twelve stages.
  • The price of the CHANCER token is expected to gradually rise through the twelve stages to $0.021.

Top prediction markets tokens including TotemFi (TOTM), Gnosis (GNO), Augur (REP), Polkamarkets (POLK), PlotX (PLOT), and OptionRoom (ROOM) have been trending in the last week. Polkamarkets (POLK) has gained the most at 9.56% in the last seven days, followed by Gnosis (GNO) and PlotX (PLOT) that has gained 9.25% and 6.77% respectively.

Well, while the prediction markets tokens are responding to the current bullish crypto market sentiment, a new predictions market token entrant, CHANCER, is making waves since its presale launch. CHANCER’s parent platform is the world’s first decentralized predictive market-making platform that is leveraging blockchain to decentralize betting.

The decentralized prediction marker maker trailblazer

The new betting platform, Chancer, aims to firmly place bettors in control of the betting markets. By allowing users to design their own betting markets, choose their own odds, and set their own rules, it has completely changed the betting industry.

The designers of Chancer, Adam and Paul Kelbie, are confident that the betting platform will fundamentally change the way people wager and unquestionably bring gambling back to life.

Chancer positions itself as a betting facilitator rather than a betting establishment by allowing betters to create peer-to-peer (P2P) bets. The types of bets that can be made by gamblers range from small, informal wagers among close friends to massive, viral bets involving thousands of gamblers, like picking the winner of the Best Director Oscar or forecasting the Champions League final score.

Additionally, Chancer accepts wagers on any prediction or event, not just sports, in contrast to the majority of bookmakers. Users of Chancer have total control over their wagers due to its decentralized nature.

The native token of Chancer, “CHANCER,” which is a Binance Smart Chain (BSC) token currently in the presale phase, is used for all bet payouts.

As a great incentive for different types of investors, Chancer’s well-planned roadmap outlines a variety of product use cases for the CHANCER token after the presale.

Chancer’s main goal is to achieve and maintain true decentralization. No one party can take over the network thanks to true decentralization. Users will be able to control decision-making in the platform’s development and operation under quadratic governance thanks to the platform’s proof of stake consensus mechanism.

Investors confident in Chancer

Investors are optimistic about the CHANCER token’s value in addition to the betting platform’s potential for greatness due to its novel approach to betting that uses blockchain to democratize market setting and management.

CHNACER is being sold for $0.01 in the first stage of the current presale. However, interested parties can only buy their CHANCER tokens with BNB or BUSD tokens.

The Chancer presale timelines state that the price of CHNACER is anticipated to keep increasing with each stage of the presale, reaching $0.021 in the final stage, stage 12 which according to the roadmap is expected to be concluded in Q2, 2023.

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Here’s why the Bitcoin Cash (BCH) price has just gone parabolic

  • Bitcoin Cash price has been in a strong bullish trend in the past few days.

  • The coin has surged by over 150% from the lowest level in May.

  • This rally is being supported by the Bitcoin ETF applications.

Bitcoin Cash price continued surging on Monday even as BTC and other cryptocurrencies moved sideways. The BCH coin jumped to a high of $228.72, the highest level since May 14th of last year. In all, the coin has jumped by more than 150% from the lowest level in May, making it one of the top-performing cryptocurrencies in the world.

BCH rally continues

Bitcoin and other cryptocurrencies have been in a strong bullish trend in the past few days. This rally is mostly because of the recent crypto news. Companies like Blackrock, WisdomTree, and Invesco announced plans to launch their Bitcoin ETF. If this is accepted, it will likely help many institutional investors allocate funds to Bitcoin.

These ETF proposals do not impact Bitcoin Cash directly. However, analysts believe that these companies will file their Bitcoin Cash spot ETF proposals if the Bitcoin one is accepted. Bitcoin Cash, as with BTC, is seen as a commodity since it is a hard fork of Bitcoin itself.

Other cryptocurrencies that could benefit in all this are Litecoin, Bitcoin SV, and Ethererum Classsic. There are concerns that Ethereum will be avoided because of its staking feature, which SEC believes contravenes securities law.

Bitcoin Cash price also jumped after it became one of the four cryptocurrencies offered by EDX Markets, the new Fidelity, Schwab, and Citadel-backed crypto exchange. The other cryptocurrencies offered by the exchange are Ethereum, Bitcoin, and Litecoin.

Further, Bitcoin Cash is doing well since it has a lower price than Bitcoin itself. The BTC and BCH ratio currently stands at 131, meaning that 1 Bitcoin is worth about 131 BCHs. 

Bitcoin Cash price prediction

The 4H chart shows that the Bitcoin Cash price has been in a strong bullish trend in the past few days. It has jumped above the important resistance point at $124, the highest point on May 9th. The coin has moved sharply above the 25-day and 50-day moving averages (MA).

It has also invalidated the upper part of the double-top pattern at $221.10. This was an important level since it was the highest level last week. The Relative Strength Index (RSI) has moved above the overbought level.

Therefore, there is a likelihood that the BCH price will continue rising as buyers target the next key resistance point at $250. A move below the double-top neckline at $184 will signal that there are more sellers left in the market.

How to buy Bitcoin Cash

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