DOGE, SHIB, ELON, BabyDoge, QUACK

Everybody loves memecoins. If you don’t have at least one animal-themed token in your wallet, can it really be said that you’re invested in crypto? Still, memecoins aren’t exactly considered “stores of value,” with their high volatility and, in many cases, extremely low utility.

Let’s take a look at how the five most popular memecoins performed, in terms of price action, during the 2022 bear market. You might be surprised to see that most of them outperformed Bitcoin and Ethereum!

The value of Bitcoin has dropped 64% since Jan. 1, while Ethereum dropped 68%, according to CoinMarketCap.

1. Dogecoin

    Name: Dogecoin
    Symbol: $DOGE
    Jan. 1 price: $0.1705
    Dec. 28 price: $0.07141
    Change: -58%
    Bottom line: Dogecoin outperformed both Bitcoin and Ethereum.

2. Shiba Inu

    Name: Shiba Inu
    Symbol: $SHIB
    Jan. 1 price: $0.00003342
    Dec. 28 price: $0.000007991
    Change: -76%
    Bottom line: Shiba performed worse than both Bitcoin and Ethereum.

3. Dogelon Mars

    Name: Dogelon Mars
    Symbol: $ELON
    Jan. 1 price: $0.000001566
    Dec. 28 price: $0.0000002869
    Change: -82%
    Bottom line: Dogelon Mars performed worse than both Bitcoin and Ethereum.

4. Baby Doge Coin

    Name: Baby Doge Coin
    Symbol: $BabyDoge
    Jan. 1 price: $0.000000001907
    Dec. 28 price: $0.0000000009559
    Change: -50%
    Bottom line: Baby Doge Coin outperformed both Bitcoin and Ethereum.

5. Rich Quack

    Name: Rich Quack
    Symbol: $QUACK
    Jan. 1 price: $0.000000002579
    Dec. 28 price: $0.000000001124
    Change: -56%
    Bottom line: Rich Quack outperformed both Bitcoin and Ethereum.

As you can see, 2022 was a year of massive losses throughout crypto. The two largest coins and the most popular memecoins suffered alike. While you were better off holding $DOGE, $BabyDoge and $QUACK than either $BTC or $ETH -- the best bet would have been to have your funds in fiat or $USD stablecoins ... er, well except for TerraUSD (which is down 98% on the year!).

 Source:www.bsc.news - by Patrick

US Regulator Investigate Binance BNB Token Probe By U.S. Money Laundering and Tax

 

June 6, 2022 (Reuters) - The U.S. Securities and Exchange Commission (SEC) is investigating whether crypto exchange Binance Holdings Ltd’s initial coin offering in 2017 broke the agency’s rules, Bloomberg reported, citing people familiar with the matter.

SEC investigators are examining if the offering of BNB token amounted to the sale of a security that should have been registered with the agency, the report here said on Monday.

The investigation adds to the troubles for Binance, one of the world’s largest crypto exchange, which is already plagued by legal issues and controversies.

Spokespersons for SEC and Binance did not immediately respond to Reuters requests for comments. (Reporting by Leroy Leo in Bengaluru)

 

The U.S. Securities and Exchange Commission (SEC) is examining whether Binance’s initial coin offering of its Binance coin (BNB) token in 2017 was an unregistered security offering that should have been registered with the regulatory agency, Bloomberg reported Monday, citing confidential sources.

• Without commenting on the details of the reported probe, a spokesperson for Binance told CoinDesk via email, "As the industry has grown at a rapid pace, we have been working very diligently to educate and assist law enforcement and regulators in the U.S. and internationally, while also adhering to new guidelines. We will continue to meet all requirements set by regulators."
   
  • BNB was trading down 4% after news of the report came out.
  • Binance is currently under investigation in the U.S. by the Justice Department, the Commodity Futures Trading Commission (CFTC) and the Internal Revenue Service. Binance is the world’s biggest crypto exchange and says it’s not domiciled in any one country.
  • The SEC is also investigating market-making companies owned or partially owned by Binance CEO Changpeng Zhao that do business with Binance.US, a U.S.-based affiliate of the global exchange, according to a person familiar with the review, Bloomberg reported.
  • According to the report, one of the SEC’s focuses is on whether Binance.US is wholly independent of the global exchange and whether employees may be involved in insider trading.
  • An SEC spokesperson declined to comment on the existence of any possible probe.

   

 

U.S. could soon approve a futures-based bitcoin exchange fund.

 

One or a group of large bitcoin buyers, also called bitcoin whales, appeared to be behind Wednesday’s price pop, based on data that showed large bitcoin purchases on exchanges during early U.S. trading hours.

But why the whale – or whales – placed bitcoin buying orders of nearly $1.6 billion in a few minutes on a centralized exchange remains unclear.

At press time, bitcoin was changing hands at $54,938.47, up 7.89% in the past 24 hours, according to CoinDesk 20.

According to South Korea-based blockchain data firm CryptoQuant, someone or a group of people purchased the massive amount of bitcoin on the spot market on centralized exchanges between 13:11 and 13:16 UTC Wednesday.

The timing of the purchase came not long after U.S. Republicans shared favorable comments on cryptocurrencies and amid increased expectations from markets that the U.S. could soon approve a futures-based bitcoin exchange fund.

The purchase could have started on Coinbase, Ki Young Ju, co-founder and CEO of CryptoQuant told CoinDesk. He pointed out that “Coinbase premium” rose sharply around the same time before it dropped again.

One or a group of large bitcoin buyers, also called bitcoin whales, appeared to be behind Wednesday’s price pop, based on data that showed large bitcoin purchases on exchanges during early U.S. trading hours.

But why the whale – or whales – placed bitcoin buying orders of nearly $1.6 billion in a few minutes on a centralized exchange remains unclear.

At press time, bitcoin was changing hands at $54,938.47, up 7.89% in the past 24 hours, according to CoinDesk 20.

According to South Korea-based blockchain data firm CryptoQuant, someone or a group of people purchased the massive amount of bitcoin on the spot market on centralized exchanges between 13:11 and 13:16 UTC Wednesday.

The timing of the purchase came not long after U.S. Republicans shared favorable comments on cryptocurrencies and amid increased expectations from markets that the U.S. could soon approve a futures-based bitcoin exchange fund.

The purchase could have started on Coinbase, Ki Young Ju, co-founder and CEO of CryptoQuant told CoinDesk. He pointed out that “Coinbase premium” rose sharply around the same time before it dropped again.

The “Coinbase premium” is an indicator showing the gap between Coinbase’s BTC/U.S. dollar (USD) pair and Binance’s BTC/USDT pair involving the tether stablecoin. When the number increases, it usually reflects stronger buying power on Coinbase, the centralized exchange.

Sources: https://finance.yahoo.com/news/bitcoin-price-rally-fueled-whales-201820117.html

SC Takes Enforcement Actions on Binance for Illegally Operating in Malaysia

 30 July 2021

The Securities Commission Malaysia (SC) today announced enforcement actions against Binance for illegally operating a Digital Asset Exchange (DAX). Under Sections 7(1) and 34(1) of the Capital Markets and Services Act 2007, all DAX operators must be registered as Recognized Market Operators (RMO) by the SC.

Accordingly, the SC has issued a public reprimand against Binance for continuing to operate illegally in Malaysia despite being included in the SC’s Investor Alert List in July 2020. In this regard, the public reprimand was issued against Binance Holdings Limited (Registered in the Cayman Islands), its CEO Zhao Changpeng, as well as three other Binance entities, namely Binance Digital Limited (Registered in the UK), Binance UAB (Registered in Lithuania) and Binance Asia Services Pte Ltd (Registered in Singapore).

All four Binance entities have been ordered by the SC to:

1. Disable the Binance website (www.binance.com) and mobile applications in Malaysia within 14 business days from 26 July 2021;
2. Immediately cease all media and marketing activities, including circulating, publishing or sending any advertisements and/or other marketing material, whether via emails or otherwise, to Malaysian investors; and
3. Immediately restrict Malaysian investors from accessing Binance’s Telegram group.

Zhao, as the CEO of Binance Holdings Limited, has also been specifically ordered to ensure that the above directives are carried out.

Investors are advised to stop dealing with and investing through illegal DAX. Those who currently have accounts with Binance are strongly urged to immediately cease trading through its platforms and to withdraw all their investments immediately.

The public is reminded to alert the SC if they come across any suspicious websites or receive any unsolicited phone calls or e-mails offering investment advice and opportunities, especially those that claim to offer high returns with little or no risks.

Exchanger of The Month:

Source: https://www.sc.com.my/resources/media/media-release/sc-takes-enforcement-actions-on-binance-for-illegally-operating-in-malaysia

Bitcoin may tumbled below $30,000 in 2021

Bitcoin tumbled below the US$40,000 mark on Wednesday to a three-and-a-half-month low and dragged down the prices of other digital coins after China imposed fresh curbs on transactions involving cryptocurrencies.

Bitcoin, the biggest and best-known cryptocurrency, had already been under pressure from a series of tweets from Tesla boss Elon Musk, but the news from China sent it as low as US$38,514, for a nine per cent fall. 

The cryptocurrency has tumbled nearly 40 per cent from a record high of $64,895 hit on April 14. It is also heading for its first monthly decline since November 2018.

 

Source: https://globalnews.ca and CNA 24/7 Breaking news

Long-term dividend allocation plan for CET holders (80% / 20%)

 

Dear CoinEx users: www.digitalcrypto.org
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At 0:00 Oct 1st, 2018 (UTC), CoinEx will upgrade "Trade-driven Mining" to "Lock & Mine CET" and cancel the feature "Trade-driven Mining".
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[What is "Lock & Mine CET"?]

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During "Lock & Mine CET", CoinEx will release 1 MILLION CET on a daily basis. All users with enough locked CET in their CoinEx accounts will be qualified to share these CET, against the ratio = Your locked CET asset / Total circulating CET asset locked in CoinEx.
1. Privileges: Users with locked CET assets will have early access to the quota of Accelerator. Please refer to the official announcement for more details.
2. Qualification: Users with less than 10,000 CET are NOT qualified for the promotion.
4. Release time: 0:00 Oct 1st, 2018 (UTC).
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[Execution of long-term dividend allocation plan for CET holders]
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According to "Long-term dividend allocation plan for CET holders", CoinEx will start to execute the arrangements from 0:00 Oct 1st, 2018 (UTC). i.e.:
1. CET holders will continue to receive dividends after "Trade-driven mining" ends.
2. 80% of CoinEx's total revenue will be allocated to CET holders and the remaining 20% is kept for CoinEx development and daily operations.
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[Dividend allocation]
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1. 80% of CoinEx's total revenue will be used to repurchase CET from the secondary market and allocated to the qualified CET holders proportionately.
2. Dividend ratio: Your CET asset / Total circulating CET asset.
3. Dividend time: Once a month. The first long-term dividend will be allocated in early November.
4. If your CET holdings are on #CoinEx, we'll allocate the dividends directly to your accounts or otherwise, to your CET wallet addresses elsewhere; Unissued #CET are NOT qualified for dividend.
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Attention: 
http://www.digitalcrypto.orgwww.digitalcrypto.org

What Are Bitcoins?

Digital currencies are on the rise and their popularity is fueled by a number of different factors.

• 1. Bitcoin is decentralized - no central bank.
• 2. Bitcoin is anonymous - all transactions are private.
• 3. Bitcoin is convenient and cheap - instant, low cost transactions with no debit/credit card or bank required.

The advantages of bitcoin are clear, but what exactly is a bitcoin?

 

What is a “Bitcoin”?

Bitcoin is often described as being like something in between gold and a dollar bill - it’s not quite a currency (no one’s printing it) and it has elements of gold (limited supply). It is called a ‘digital currency’ and it can only be created and stored online. There is no single entity that controls bitcoin, all transactions are made ‘peer to peer’ i.e. from one individual to another and all transactions are entirely anonymous.

Bitcoins are produced by several users running computer scripts all over the world; these scripts solve difficult mathematical problems and once solved, an amount of bitcoin is ‘released’. These mathematical problems ensure that transactions are anonymous and it also gives rise to the term ‘cryptocurrency’ which is often used to describe bitcoin.

Bitcoin is used to purchase products and services electronically, and there’s an increasing demand for bitcoin in markets where anonymity and security is crucial.

Bitcoin is Decentralized

The best way to describe a bitcoin transaction is to compare it with a typical ‘cash in hand’ transaction from many years ago. When an individual purchases an item from another individual with cash, there is no government record taken to know that this transaction ever existed. While all bitcoin transactions are monitored on the ‘block chain’, much like cash payments, there is no record of the individuals involved in the transaction.

Bitcoin does not run through a central bank and there is no ‘bank’ that controls money supply by printing or removing bitcoin from the market. Bitcoin is produced through these mathematical problems mentioned above and there is a limited supply that cannot be manipulated by anyone, anywhere in the world.

This lack of government or bank control means that seizures of bitcoin are theoretically impossible. The impact that Black Friday had on the poker community many years ago cannot be repeated if players deal with bitcoin.

 

Who Created Bitcoin?

Bitcoin was developed by a software developer known as ‘Satoshi Nakamoto’. Satoshi grew tired of the conventional means of processing payments and the fees that came with them, so his idea was to create a currency that was unlinked from “legal” currencies and the associated transaction fees. This isn’t to say that bitcoin is free from fees, but the fees on transactions are heavily reduced and are insignificant in comparison to what you might expect from a wire transfer or PayPal.

 

Who Owns Bitcoin?

No one owns bitcoin; the currency is held entirely on the Internet and there is no single person, business or government with control over its supply or the rules on how it can be used. Bitcoin is generated by a ‘pool’ of bitcoin ‘miners’ that run these mathematical problems to solve the blockchain and earn bitcoin. This network of miners is also the very same network responsible for processing the transactions that take place, meaning bitcoin is not only a currency, but a payment network as well.

Are There Unlimited Bitcoins?

Bitcoin is limited because the protocol that established the network is forcibly capped at releasing around 21 million bitcoins. However, this is 21 million ‘whole’ bitcoins. A single bitcoin can be divided into halves, quarters, tenths and still transacted - in fact, the smallest possible amount of bitcoin is called a ‘Satoshi’ and is 0.00000001 of 1 bitcoin. In this regard, there is plenty of bitcoin to go around.

 

Bitcoin Mining

Bitcoins deviate from the norm when compared with traditional currency. Traditional currencies were once based on the value of gold and silver. Consumers could then look to the price of gold and silver to get an understanding of what their currency was worth. But bitcoin shares none of these traits, and is based on mining and mathematical problems alone.

Users across the world are running software programs to solve the mathematical problems that produce bitcoin. The Bitcoin network has an estimated 100,000 active users at any given moment, which continues to grow on a daily basis as more and more ‘miners’ attempt to earn bitcoin.

 

5 Key Points to Remember About Bitcoin

Now that you have a good understanding of bitcoin, be sure to keep in mind these 5 key points when it comes to using the cryptocurrency:

• 1. Decentralized: there is no one central authority for bitcoin. Banks, governments and businesses cannot control transactions and are unable to seize funds from any bitcoin users.
• 2. Easy to use: once you’re familiar with bitcoin you will find it easy to use. Accounts can be set up in minutes while bank accounts can take months with various hoops to jump through. There are no questions and no fees to setting up a bitcoin wallet.
• 3. Anonymity: spend your money on what you want, when you want. Bitcoin is an anonymous way to transfer value through the Internet - go have fun!
• 4. Transparency: the blockchain publicly stores all transaction information for anyone to see, meaning that while transactions are anonymous, they are entirely transparent.
• 5. Free from fees: one of the most important wins for bitcoin is that the fees pale in comparison to a traditional money processor. Sending the equivalent of $0.01 through the Internet is now easy and makes microtransactions more accessible for everyone anywhere in the world.