• Hindenburg Research has revealed to have taken a short position in the financial technology company Block Inc.
• Hindenburg’s research claims that many of Block’s accounts are involved in criminal activities, such as sex trafficking.
• In response, Block Inc stated their intention to take legal action against the short seller.

Hindenburg Researches Takes Short Position on Block Inc.

Block Inc shares were down 15% on Thursday after Hindenburg Research revealed they had taken a short position in the financial technology company. The research spanned two years and alleges many of the company’s accounts are involved in criminal activity, including sex trafficking.

Wall Street Weighs In On Block Shares

Wall Street seems to disagree with Hindenburg as well, maintaining an consensus overweight rating for „SQ“ with an average price target of $98 – up 60% from its current value.

Block Responds To Allegations

In response, Block Inc reiterated that it is a highly regulated public company and stated their intention to take legal action against the short seller. They also mentioned plans to work with the SEC regarding these allegations.

Block CEO Jack Dorsey Selling Shares

Hindenurg also took issue with the fact that top executives, including CEO Jack Dorsey had sold more than $1 billion worth of company shares to benefit from pandemic-driven rallys.

Conclusion

Despite Hindenburg’s report and share prices being slightly down for the year, Wall Street still maintains faith in Block’s future prospects as evidenced by their consensus rating and price target on “SQ” stock. It remains to be seen if these allegations will hold up legally or if any changes will come about due to this news but either way investors should keep an eye out for further developments in this situation.

• CryptoUnity is a Slovenian start-up that is building a beginner-focused crypto exchange.
• The user-friendly interface and comprehensive educational resources on CryptoUnity are designed to make the world of cryptocurrency more accessible and less intimidating to beginners.
• CUT is the utility token that powers the CryptoUnity ecosystem, providing holders with many different benefits and utility cases on the CryptoUnity platform.

CryptoUnity Exchange

CryptoUnity is a Slovenian start-up that is building a beginner-focused cryptocurrency exchange. The exchange seeks to close the gap for beginners in the ecosystem, making it easier for them to navigate the crypto ecosystem. Its user-friendly interface and comprehensive research and educational resource section empower users to learn more about cryptocurrencies. The exchange also stores funds with an independent, highly regulated custodian.

Security Features

The safety of its users‘ funds is one of CryptoUnity’s top priorities; thus, it has implemented several security features such as cold wallet storage with an NFC card and partnerships with companies like Lenovo. To provide transparency, CryptoUnity has passed audits by QuilAudits and CertiK, receiving a CertiK KYC Gold badge.

CUT Token

The CUT token powers the CryptoUnity ecosystem and has a total supply of one billion tokens. CUT holders enjoy various benefits such as lower fees, access to further education, loyalty programs, spot in legitimate ICO presales, airdrops, holder rewards, advantages on giveaways and more.

Conclusion

CryptoUnity is seeking to make it easier for beginners in the crypto space to navigate their way around by providing them with the necessary tools such as user friendly interface coupled with comprehensive educational resources backed up by stringent security measures like cold wallet storage with an NFC card amongst others all powered by its native token – CUT – allowing them access to various benefits such as lower fees etc..

Takeaway

CryptoUniy seeks to provide beginners in th crypto space accessibilty while ensuring their safety by providing them with user friendly interfaces alongwith comprehensive educational resources all backed up by stringent security measures while leveraging its native token – CUT – so they can access various benefits like lower fees etc..

• Ark Invest purchased 301,347 Coinbase shares on Thursday for $20.5 million.
• Cathie Wood’s Ark Invest has remained bullish on Coinbase despite the stock dropping by more than 10% since the beginning of March.
• The US government recently moved BTC worth $217 million to Coinbase.

Ark Invest Purchases Coinbase Shares

Ark Invest purchased 301,347 Coinbase shares on Thursday for a total value of $20.5 million. Cathie Wood’s Ark Invest has continued to remain bullish on Coinbase Global Inc (NASDAQ:COIN) stock despite the stock dropping by more than 10% since the beginning of March and going for $64.67 compared to today’s price of $58.09.

US Government Moves BTC To Coinbase

The US government recently reportedly moved BTC worth $217 million to Coinbase which could be seen as a vote of confidence in the crypto exchange despite other cryptocurrency exchanges facing accusations by various regulatory authorities in the United States and market sentiment being driven down due to recent events such as the collapse of crypto-friendly bank Silvergate and Silicon Valley Bank selling assets and stocks to raise funds.

Ark Buys Additional Shares In February

In February, Ark purchased additional shares worth over $30 million in addition to another $3.2 million worth of shares bought in December further demonstrating their faith in the company and its ability to weather any storm within the crypto industry.

Risk Of Prolonged Interest Rate Increase

The risk of prolonged interest rate increases in the US have also contributed significantly towards driving down market sentiment this week with many investors becoming increasingly sceptical about investing in crypto-related firms due to current volatility within the marketplace.

Conclusion

Despite these factors, Cathie Wood remains optimistic about Coinbase which is an encouraging sign that they believe it will continue to be successful regardless of what happens within the wider crypto industry moving forward.

• Ark Invest purchased 301,347 Coinbase shares on Thursday, worth $20.5 million.
• This comes despite the stock dropping by more than 10% since the beginning of March.
• Despite the crypto market meltdown, Cathie Wood seems optimistic about Coinbase.

Ark Invest Adds $20.5 Million in Coinbase Shares

Ark Invest purchased 301,347 Coinbase shares on Thursday, with a total value amounting to $20.5 million. The purchase was made despite the stock dropping by more than 10% since the beginning of March and a current crypto market meltdown.

Ark Invest Buys Additional Robinhood Shares

In addition to purchasing Coinbase shares, Ark also added 265,000 Robinhood shares (worth about $2.5 million) solely to its Ark Next Generation Internet ETF.

Cathie Wood Remains Bullish on Coinbase

Despite these factors that have led to a decline in market sentiment this week, Cathie Wood’s Ark Investment remains bullish on Coinbase Global Inc (NASDAQ:COIN) stock. This could be seen as a vote of confidence in the crypto exchange and its ability to withstand various regulatory pressures from US authorities.

Previous Purchases of COIN Stock

In February 2021 Ark invested more than $30 million in Coinbase shares and additional investments were made back in December 2020 for an estimated total of $3.2 million worth of stock purchases for both months combined.

US Government Moves BTC Worth Over $200 Million To Coinbase

The US government recently moved BTC assets worth over $217 million over to Coinbase which may suggest that there is still faith being shown towards cryptocurrency exchanges amid various regulatory pressures across the US at present time.

• Sweat Economy is a web3 project that seeks to unlock the economic value of movement.
• The company plans to launch its SWEAT token and Sweat Wallet application in the US later this year.
• US Sweatcoin app users will receive their allocations of SWEAT in proportion to their current ‚Sweatcoin‘ holdings, starting September 12, 2023.

Sweat Economy Set To Launch In The US

Sweat Economy is a Web3 project with the mission of unlocking the economic value of movement. This venture is planning to launch its native token called SWEAT alongside its Web3 wallet application called Sweat Wallet in the United States later this year.

What Is The SweatCoin App?

The company operates a Web2 application called SweatCoin app which has been available in the US market since 2016. It rewards millions of US users with loyalty points called ‚Sweatcoins‘ for their steps made when walking or running.

SWEAT Token Distribution In The US

US customers were locked out of the original Token Generation Event (TGE) making them unable to receive their $SWEAT allocations or start generating new $SWEAT tokens by walking last year. Starting on September 12, 2023, however, they will be able install the Sweat wallet application and start receiving their allocations of SWEAT in proportion to their current ‚Sweatcoin‘ holdings and can start earning more SWEAT tokens for their steps right away.

Founder’s Comments On Re-Launch

Commenting on the new development, Oleg Fomenko – Founder of Sweat Economy said: „It is a great pleasure to finally have our American users join us on our journey towards unlocking value from physical activity”. He further noted that no additional token emissions are planned for this launch as all tokens will come from existing allocations only.

Conclusion

Sweat Economy’s re-launch marks an important milestone for both the company and crypto enthusiasts alike as it opens up opportunities for American users to earn rewards while being physically active and healthy!

• Bitcoin supply on exchanges has dropped to the lowest level since 2017, with 11.8% of the overall supply now held off-exchange.
• This trend has been ongoing since March 2020, when crypto bottomed ahead of a pandemic bull run.
• The exodus is thought to be driven by fears over security and transparency after the collapse of FTX exchange.

Bitcoin Supply on Exchanges Reaches Lowest Level Since 2017

The balance of bitcoins on exchanges is now down to 2.27 million – that is the lowest mark since March 2018, representing 11.8% of the overall Bitcoin supply – which is also the lowest mark since December 2017.

Decrease in Bitcoin Balance on Exchanges Since March 2020

The decrease in bitcoin balance on exchanges has been consistent since March 2020, when crypto bottomed ahead of an explosive pandemic bull run. Originally, people pulled Bitcoin from exchanges in order to take advantage of the vibrant crypto ecosystem and participate in various activities with high volumes and activity levels as well as much scope for yield generation.

Continued Exodus Despite Diminished Interest Levels

Despite interest levels having diminished over recent months, there has still been a pattern of Bitcoin leaving exchanges – albeit for different reasons than before. It is thought that this exodus is largely due to fears over security and transparency being heightened due to events such as the collapse of FTX exchange earlier this year.

„Not Your Keys Not Your Coins“

This phenomenon highlights just how important it is for users to make sure they are taking control over their own assets through self-custody solutions rather than relying solely upon third-party custodial services or holding cryptocurrency assets on centralised exchanges which could be vulnerable targets for hackers or scam artists who are looking to exploit unsuspecting victims who have failed to take adequate steps towards protecting their own digital assets.

Conclusion

To conclude then, it appears that despite diminished interest levels in cryptocurrency markets following a year full of bearish sentiment and market volatility, people are still taking heed of one of the oldest sayings in crypto; „not your keys not your coins“. As we continue into 2021 and beyond we can expect this trend will continue as more users look towards self-custody solutions and take responsibility for safeguarding their own digital assets against potential fraudsters or malicious actors seeking out vulnerabilities within cryptocurrency infrastructure networks across the world

Summary

• Binance CEO Changpeng ‘CZ’ Zhao has denied reports that his exchange is looking to sever ties with US-based projects.
• The reports followed an earlier report that cited familiar sources as saying Binance was planning to delist all US-based tokens, including USD Coin (USDC).
• However, CZ acknowledged the exchange had „pulled back“ on some deals and clarified it was better to focus on education, compliance, product & service.

Binance Denies Reports of Delisting US-Based Tokens

The Binance CEO Changpeng ‚CZ‘ Zhao has tweeted to deny the reports that his exchange is looking to sever ties with US-based projects. Earlier reports claimed that Binance was planning to delist all US-based tokens, including USD Coin (USDC), a stablecoin issued by US-based financial services firm Circle.

In response to one of the reports, CZ termed it as „false“ and went on to suggest that this wouldn’t be the case given „blockchain has no borders“. He also acknowledged the exchange had „pulled back“ on some deals but clarified it was just ‚for now‘.

Collapse of FTX and SEC Lawsuit Against Paxos

Binance has endured a lot of FUD over the past several months, particularly after the collapse of FTX. A Bloomberg report published on Friday further added fuel by claiming sources said Binance was reassessing its venture investments in the country. This comes just days after the US Securities and Exchange Commission (SEC) said it was suing Paxos – issuer of BUSD stablecoin – for labelling it as an unregistered security.

On top of this, New York Department of Financial Services ordered Bitfinex to stop trading activities in New York over alleged violations. This order caused tension between Bitfinex and Tether who share common management personnel.

Focus on Education and Compliance

CZ’s tweet suggested focusing on education, compliance and product & service instead of ignoring FUDs or fake news attacks. He also linked previous tweet in which he suggests same statement about focusing rather than ignoring these issues. However, no specific details were provided about any changes made in those areas by Binance yet.

Conclusion

It appears from CZ’s comments that Binance is not looking to completely cut ties with its partners or projects based in USA at least for now; however they are taking necessary steps like pulling back from potential investments or bids on bankrupt companies in USA until permission is granted by concerned authorities first.

• Kraken, a U.S. based crypto exchange, is ending its crypto-staking services to settle charges with the U.S. SEC and pay $30 million in penalties.
• This casts doubt on Coinbase which also offers staking services in the U.S..
• Non-U.S. customers will still be able to access staking services through a different subsidiary of Kraken.

Kraken Ends Crypto-Staking Services

Kraken, the U.S.-based cryptocurrency exchange, is bringing down the curtain on its crypto-staking operations as part of a settlement with the Securities and Exchange Commission (SEC). As part of the settlement, Kraken will pay $30 million in penalties even though it refrained from admitting to or denying any allegations leveled against it by the SEC over selling unregistered securities via its staking programme.

Impact on Coinbase

The settlement has thrown into doubt Coinbase Global Inc., another major player offering staking services in the United States, as Thursday’s regular session saw their shares close down nearly 15%.

What Are Staking Services?

Staking-as-a-service providers must register and provide full, fair and truthful disclosure as well as investor protection when offering returns such as those offered by Kraken– which were reported at 20% annual percentage yield sent twice per week to clients taking advantage of their service offerings. The development marks the first regulatory crackdown on staking – a service that has become increasingly popular among cryptocurrency exchanges lately.

Access for Non-U.S Customers

Kraken did confirm that its staking services will remain available for non-U .S customers through a separate subsidiary registered outside of American jurisdiction. Chair of the US SEC Gary Gensler had this to say about such return offerings: “When a company or platform offers you these kinds of returns, whether they call their services lending, earn rewards, APY or staking – that relationship should come with protections of federal securities laws”

Conclusion

Today’s settlement between Kraken and the SEC marks an important milestone in regulating digital asset investments while also casting doubt over similar offerings from other platforms like Coinbase Global Inc., who have seen their share price tumble following news of this latest development in the industry space

• Metacade’s initial presale stages have sold out in a matter of weeks, with more than $4.9m in funding being poured into the fledgling crypto gaming platform.
• Investors are predicting that early adopters could enjoy 10X gains on their investments in 2023.
• MCADE’s value is set to rise throughout the duration of the presale, and then launch on decentralized exchanges when buyers globally will likely scramble to get their hands on it.

Early Presale Success for Crypto Gaming Platform Metacade

Metacade’s initial presale has seen an incredible amount of success, with more than $4.9m of funding being invested in the new crypto gaming platform within a matter of weeks. This has led to bullish investors expecting 10X returns over the course of 2023 as Metacade continues to gain traction and build momentum.

MCADE Value Set to Increase Throughout Presale

The price per token began at $0.008 during the beta phase and is expected to reach $0.02 by stage nine of the presale, culminating in a successful IDO launch which will see global buyers scrambling to acquire MCADE tokens on decentralized exchanges. Early investors are expected to maintain HODLing behavior until they can capitalize on larger rewards further down the line.

Metacade’s Long-Term Potential

Investors have been drawn in by Metacade’s comprehensive white paper which outlines an ambitious plan for becoming a major player in crypto gaming over the next five years as well as its potential for delivering one of the most comprehensive ranges of online arcade games available in the metaverse.

Explosion Predicted for GameFi Sector Over Next Five Years

Experts predict that there will be substantial growth and development across all areas within GameFi over this period, making now an opportune time for those looking to invest long-term in blockchain-based projects such as Metacade which offer huge potential gains despite their infancy stage.

10X Gains Expected for Early Investors this Year

Based on current trends and predictions, it looks like early investors into Metacade’s presale rounds could be rewarded incredibly handsomely this year with potentially 10X returns once MCADE becomes available publicly – something many have already prepared themselves for through HODLing strategies while they await greater appreciation after launch day arrives later this year!

• Crypto-friendly bank Silvergate announced its suspended payment of dividends on its series A preferred stock.
• The company’s shares fell more than 11% pre-market after the announcement.
• Silvergate is taking the move to help preserve capital following the effects of recent turbulence across the crypto ecosystem.

Crypto-friendly bank Silvergate has recently announced its decision to suspend payment of dividends on its series A preferred stock. This decision comes as the company continues to feel the effects of the recent turbulence across the crypto ecosystem.

The news has caused Silvergate’s shares to fall more than 11% pre-market, and the company is now taking the move to help preserve capital. Silvergate reported a $1 billion loss in the fourth quarter and cut its staff by 20%, showing the impacts of the crypto bear market and the collapse of FTX.

Silvergate has stated in a press release that the Board of Directors will re-examine the company’s payment of quarterly dividends at a later date, depending on how “market conditions evolve.” The move to suspend the dividend payments is intended to maintain a highly liquid balance sheet with a strong capital position for the company as it navigates the recent volatility in the digital asset industry.

Silvergate is not the only player in the crypto space that has been affected by the turbulence of late. Other companies, such as Coinbase and Binance, have also seen their share prices take a dive in the weeks following the FTX crash.

However, Silvergate’s decision to suspend dividend payments implies that the company is feeling the impact of the recent events more than most. The company may be hoping that by taking this measure, it can help to preserve capital and ride out the storm until the markets stabilize.

In the meantime, investors should be aware of the risks associated with investing in crypto-related businesses, as the industry continues to be highly volatile. As always, investors should conduct their own research and due diligence before investing in any asset class.