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SEC Obtains Freeze of $8 Million in Assets in Alleged Fraudulent Token Offering and Manipulation Scheme

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SEC

The Securities and Exchange Commission announced fraud charges against a Brooklyn individual and two entities under his control who allegedly engaged in a fraudulent scheme to sell digital securities to investors and to manipulate the market for those securities. On Aug. 12, 2019, the court entered an emergency freeze to preserve at least $8 million of the $14.8 million the defendants raised in 2017 and 2018 in an offering of digital securities.

The SEC filed charges against Reginald “Reggie” Middleton, a self-described “financial guru,” and two entities he controls, Veritaseum, Inc. and Veritaseum, LLC (collectively Veritaseum). The Commission’s complaint, filed in federal court in Brooklyn, New York, alleges that the Defendants marketed and sold securities called “VERI” tokens on the internet, inducing retail investors to invest based on multiple material misrepresentations and omissions. Among other things, Defendants allegedly knowingly misled investors about their prior business venture and the use of offering proceeds, touted oversized – but fictitious – investor demand for VERI, and claimed to have a product ready to generate revenue when no such product existed. The complaint further alleges that Middleton manipulated the price of the VERI tokens trading on an unregistered digital asset platform. The complaint also alleges that Middleton recently moved a significant amount of investor assets and then dissipated a portion of those assets, transferring them to Middleton’s personal account.

“After learning about Middleton’s transfer of funds, we took quick action to prevent the further dissipation of investor assets,” said Marc P. Berger, Director of the SEC’s New York Regional Office. “Whether in digital currency or plain cash, we will act to protect investor assets and to pursue fraud and manipulation in our securities markets.”

The SEC’s complaint charges Middleton and Veritaseum with violating the registration and antifraud provisions of the U.S. federal securities laws, and Middleton with additionally violating the antifraud provisions on the basis of his manipulative trading. The complaint seeks permanent injunctions, disgorgement plus interest and penalties, and a bar from offering digital securities. For Middleton, the SEC also seeks an officer-and-director bar.

The Commission’s investigation was conducted by Jorge G. Tenreiro and Victor Suthammanont of the New York Regional Office, assisted by Roseann Daniello, a staff accountant in the New York Regional Office, John O. Enright of the Cyber Unit, and IT Forensics staff Ken Zavos and Olga Cruz-Ortiz. The case is being supervised by Lara Shalov Mehraban, Associate Regional Director of the New York Regional Office. The SEC’s litigation will be led by Mr. Tenreiro and Mr. Suthammanont.

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Blockchain

Huobi Announces the Establishment of Huobi DeFi Labs

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Huobi Group

Huobi Group, the world leading Blockchain Company, has announced the establishment of Huobi DeFi Labs. Huobi DeFi Labs is the platform for DeFi (Decentralized Finance) research, investment, and incubation and eco system building in DeFi space. It aims to build a better financial system in collaborations with the global crypto and DeFi community for the future.

“Huobi as the leading crypto financial services provider in Asia and worldwide, our mission is to provide the best crypto financial products and services to our users regardless it is CeFi or DeFi,” said Leon Li, founder and CEO of Huobi Group. “We are excited to join as a part of the global DeFi ecosystem and will be very honoured to work with the global community to provide the best support possible.”

The DeFi initiatives will be led by Huobi’s Chief Investment Officer Sharlyn Wu, who was a Wall Street veteran, ex UBS and also have been leading blockchain investment at China Merchant Bank International.

“Over the past two years, we have witnessed the birth and exponential growth of DeFi. The width, depth and speed of innovations are unparalleled in human history. It is exciting to see the power of permissionless economy unleashed at global scale. However, there are still many problems to be solved at theoretical and technical level,” said Sharyn Wu, Huobi’s Chief Investment Officer. “There is also a lot of investor education to do in order to bring crypto and DeFi to mainstream users. As DeFi is still in its infancy, it needs collective efforts from the global community to build and grow the space together.”

Huobi Group will allocate tens of millions of dollars to an initial investment fund, which will be managed by Huobi DeFi Labs. The team consists of 4 research and investment professionals initially.

The DeFi Labs will be focused on the following three areas:

  • Research of underlying financial theories and technology
  • Investment and incubation of DeFi projects
  • Work with the best DeFi projects to service the entire ecosystem

DeFi and CeFi to Collectively Change the Landscapes of Traditional Finance

Sharyn Wu explains why Huobi group invests in the DeFi space and Huobi DeFi Labs’ mission:

  • DeFi brings many benefits including transparency and composability, which will improve the efficiency and governance of finance to the next level. More importantly, for the first time ever, it is possible to create a finance system without credit risk and principal agency risk.
  • This system can provide people with trust, safety and certainty, which are not present in our society today. When financial institutions, which are professional at pricing risks come in, they look at the risk parameters, they will tell that this trust-less model deserves better pricing because it removes the risks and uncertainties caused by human behaviors.
  • This will also benefit average users in the ecosystem hugely as every user regardless where they are can tap into the global liquidity pool and all the financial products worldwide through their mobile.
  • Crypto is a perfect system for finance. As blockchain technology optimizes over time, DeFi and CeFi to collective change the landscapes of traditional finance and serve the use cases they are best suited for. Huobi strives to work with the entire crypto and DeFi ecosystem to reshape the global financial systems.
  • Crypto will disrupt finance as the internet has managed to change many other industries. Today is a world that every business operates with their ledger. Society is operating at huge costs for account reconciliations and monopolies ruling out long tail. The power of millions of ledgers merging into one will enable that every user, asset and data is accessible to the entire ecosystem at literally zero costs.
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Celsius is Closing its Funding Round With Over $18.8M

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Litecoin

Celsius Network, the interest-earning platform, has today announced that it will be closing its equity funding round with over $18.8M in investments. This raise was a unique equity offering for both qualified U.S. & non-U.S. investors, and has been now successfully raised through BnkToTheFuture, the largest online investment platform for investing in FinTech & crypto companies, and other investors.

Celsius Network had recently announced the extension of their fundraising goal of $17M through BnkToTheFuture, and have well exceeded their expectations from their community participation in this raise. Celsius has previously announced that it has raised $10m from www.Tether.to at a $120m pre money valuation and further decided to give its community access to Celsius’ equity via BnkToTheFuture. Qualified investors were able to participate in their equity round with as little as $1,000.

BnkToTheFuture has a network of over 85,000 qualified investors and has enabled compliant equity funding rounds for a variety of established crypto firms, such as BitFinex and Kraken, BitStamp and portfolio companies Coinbase, Blockchain.com, and Circle, having now facilitated almost $850m of investments in the sector.

“We are thrilled at the response we have gotten from our community during this fundraise,” says CEO Alex Mashinsky, “it is our goal to continue to work for our community, and we saw this as an opportunity to have them participate directly in a way that aligns with our mission of giving back up to 80% to our community.”

Celsius is continuing its dedication to seeing their goals from the whitepaper to fruition. They believe this raise is proof of the mutual commitment they share with their community in this mission.

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eToro Quarterly Report: Q2 2020, stablecoins find a mainstream use case

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eToro

In areas where unrest and inflation run rampant, individuals and businesses are increasingly turning to stablecoins to hedge against depreciation and send funds abroad quickly and cost effectively. This is just one of the findings in new research released today by social investment platform eToro and The Tie, which examines the main themes and drivers within the crypto market.

Countries like Venezuela (where inflation exceeds 15,000 percent), and Iran (where inflation is over 34 percent) are seeing significant adoption of digital assets including Tether (USDT), which has more than doubled in overall value to around $10 billion since the start of the year, our research has found.

“While media coverage in Q2 continued to focus on bitcoin, the real story emerging from the data is centered around stablecoins,” said Guy Hirsch, US Managing Director for eToro. “Fiat inflows into stablecoins exceeded $5B in only six months. We might be on the cusp of a systemic change, where developing countries that are searching for a way to ‘exit’ fiat-controlled government systems.”

Additional key findings include:

  • Investor sentiment around bitcoin and gold became increasingly correlated as directional price movement remains disconnected. In June, the price of bitcoin and gold futures only moved in the same direction 50 percent of the time, while bitcoin and S&P 500 futures price moved in the same direction 62 percent of the time.
  • Many altcoins continue to outperform bitcoin intra-quarter. This past quarter, Cardano’s ADA and Ether saw the largest jumps in price, up 175 percent and 70 percent, respectively. This came as bitcoin performed in the middle of the pack in Q2, as the 8th best performing of the 15 assets available on eToro US.
  • DeFi has become a major part of the cryptocurrency narrative, with more media mentions of DeFi in Q2 than bitcoin’s halving. However, media mentions of DeFi remain exclusively within crypto native publications, and despite the hype the market is still extremely small, likely in the low thousands of users.
  • Tezos was the only crypto which saw an increase in the percentage of eToro users investing in it. All other cryptoassets saw decreases as eToro users globally increasingly invested in stocks.

The report also includes interviews with some of the best performing investors on eToro, sharing their unique perspectives on where they see the best opportunities. Additionally, insights are also included from Arca’s vice president of research, Katie Talati; and Tron founder Justin Sun.

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PayPal to be available on Pundi X’s blockchain-based POS devices

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PayPal

Singapore-based blockchain developer Pundi X has recently announced that its blockchain-based point-of-sale device, the XPOS®, is now capable of supporting PayPal. Deployed in over 30+ countries all over the world from Japan to Brazil, the XPOS® has been providing scores of brick-and-mortar stores with an alternative payment method to cash by allowing them to securely and efficiently transact on the blockchain.

The idea for the new development came about after Pundi X ran an official Twitter poll asking their followers which mobile payment app they’d like to see first supported on the XPOS. Among the choices were other platforms like WeChat Pay/Alipay, GoPay and PayTM but PayPal received an overwhelming majority of the vote, with nearly 70% of all respondents choosing the California-based service.

Since 1998, PayPal has provided millions around the world with a way to transfer funds online and has provided an efficient alternative to traditional paper methods for online vendors, auction sites and countless more. Its inclusion on XPOS machines will make it easier for both merchants and customers to streamline their transactions.

“This is definitely exciting for us,” revealed Pundi X CEO and co-founder Zac Cheah. “To be able to support a leading online payment provider in our XPOS devices can give people more confidence in using them, and can move usage of blockchain technology closer to the mainstream.”

PayPal on XPOS® devices will work in pretty much the same way as anywhere else. The online finance platform’s basic features will be functional on XPOS® devices, including accepting payments. This feature will include payments made via email or mobile phone number. In the US, merchants will only have to show a certain QR code for their customers to pay. PayPal Here, on the other hand, offers features for merchants to accept credit card payment.

PayPal’s inclusion to XPOS® devices brings more than just streamlined transactions. It also means that users can easily purchase cryptocurrencies such as BTC, ETH, BNB, NPXS, etc. at any XPOS® merchant who has activated the device’s “Crypto Sale” feature. These coins can then be securely stored in an XPASS Card, which makes dealing with cryptocurrency as simple as using the card to complete a transaction. For better management, the use of the XPASS can also be paired with Pundi X’s XWallet app.

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HerdX And UPS Deliver Blockchain Verified Beef

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beef 27

On Tuesday, June 9th HerdX and UPS showcased a blockchain tracked and verified beef shipment. The shipment started at Dean and Peeler Premium Beef in South Texas and shipped via UPS to an event held at The Richter Tavern in Boerne, Texas. Romaine Seguin, UPS President Global Freight Forwarding, and Jeff McCorstin, UPS President Global Customs Brokerage & North America Supply Chain Solutions, attended on behalf of UPS.

McCorstin said, “Seeing the integration of the domestic UPS shipment with HerdX’s blockchain technology in action, here in a local Texas restaurant, puts in perspective the need for this solution in supply chains across the globe. With sustainability and food safety as important differentiators, this is the future companies will choose in their supply chains.”

Others in attendance also included Former United States Representative Lamar Smith, State Representative Kyle Biedermann, and Amy Story, President and CEO of the Boerne Kendall County Economic Development Council.

“It is so exciting to see a company with the global impact of HerdX headquartered in Boerne, Texas,” Story said. “Their commitment to promoting technology and opportunities for quality jobs in rural communities make HerdX a unique example of the possibilities that exist in rural America. HerdX’s ability to provide better livestock management for the ranchers and transparency and trust for the consumers creates a level of trust and information that can be utilized around the world. Story continued, “The event held at Richter Tavern allowed them to showcase their innovation with a fabulous dinner that demonstrated the beauty of the service they provide. We couldn’t be more excited to watch HerdX’s impact on the global food industry.”

HerdX supports Story’s mission to bring economic growth and sustainability to Kendall County.

Guy Sanders, Owner of the Richter Tavern said, “I am delighted that Richter can showcase HerdX blockchain meats as part of our efforts to supply customers with fresh, safe, and delicious foods. Hosting the HerdX group was a lot of fun for my team and we look forward to growing our relationship together, Sanders said.”

About HerdX
HerdX, an agri-tech and data company, created the first end-to-end solution from farm to table for beef and lamb products. Starting at the farm, the HerdViewTM system tracks animal movement providing insights and herd management tools for farmers. A select piece of that data is uploaded to blockchain and travels through the entire supply chain where then the meat is presented to the customer at a restaurant or grocery store. The customer is able to scan a QR code on the menu to view verified health and provenance data of the meat they are eating.

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Crypto Derivatives Exchange OKEx Launches Options on Ether

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OKEx

Malta-based cryptocurrency exchange OKEx rolled out option contracts on Ethereum’s ether (ETH) token on Thursday, ending the Panama-based Deribit’s virtual monopoly in the space.

“OKEx ETH Options Contracts will be settled in ETH. Each contract’s face value of ETH/USD options is 1 ETH,” Jay Hao, CEO of OKEx, told CoinDesk.

Options are derivative contracts, which give the buyer the right, but not obligation to buy or sell the underlying asset at a predetermined price on or before a specific date. While a call option represents a right to buy, a put option gives the holder the right to sell.

The mark prices of exchange’s options are determined by the Black-Scholes model on a real-time basis, and the final settlement price will be generated via a time-weighted average of the underlying price over a period of time ahead of expiry.

To avoid what OKEx calls a “societal clawback”, the exchange has already established an ETH/USD options insurance fund of 1,000 ETH, worth about $240,000 as of Friday. Clawbacks occur when the exchange’s insurance fund lacks sufficient reserves to cover investors’ total margin call losses. Exchanges face such shortages and socialize losses by clawing back a portion of the gains of profitable traders when the market unexpectedly sees a big bullish or bearish move, leading to forced unwinding of long/short positions.

“Options would give traders more versatility and a great way to hedge their risk,” said Hao. Ether’s fortunes are closely tied with the use of Ethereum in decentralized applications (dApps). Hence, one may argue ether options are hedging instruments for dApps.

As of Thursday, OKEx was the largest ether futures exchange by open interest, accounting for 26% ($179 million) of the global tally of $672 million. Further, the exchange recently surpassed BitMEX to become the largest bitcoin (BTC) futures exchange by open interest.

“Adding ETH options is a logical next step for us, and also a market demand particularly as we pride ourselves on the wide variety of products and features that we offer traders, allowing them to keep their pricing strategies more flexible,” said Hao.

While OKEx dominates the futures product, the options segment is ruled by Deribit exchange. As of Thursday, Deribit accounted for more than 75% of the total open interest of $1.3 billion in BTC options and contributed almost the entire open interest of $144.35 million in ether options. Meanwhile, OKEx contributed only 4% of the total open interest in BTC options.

OKEx, therefore, has plenty of ground to cover before threatening Deribit’s number one position in the options market. The exchange has traded $1 million worth of ether option contracts since inception and has $342,000 worth of open positions at press time.

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Ideanomics’ MEG Secures First Order for Qingdao EV Hub

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Ideanomics

Ideanomics, Mobile Energy Global (MEG) division has today announced its Qingdao subsidiary Qingdao Chengyang Ainengju New Energy Sales and Service Co., Ltd has secured its first EV order from a Hangzhou-based customer for 130 EV units from SAIC’s Roewe brand.

The order value is approximately RMB 17.5 Million (approx. USD 2.5 Million), and is comprised of 80 units of Roewe’s 2019 model ei6 Honor 80 Deluxe Edition, 20 units of its 2020 EX5 vehicle, and 30 units of its ei5 2020 Deluxe Edition. The order is for immediate delivery and anticipated to be completed within the second quarter. Qingdao Chengyang Ainengju New Energy Sales and Service Co., Ltd assisted with financing and purchase activities on behalf of its customer.

“We are very pleased to have secured this first meaningful order for our Qingdao center, particularly as the customer required financing assistance with its EV orders,” said Alf Poor, CEO of Ideanomics. “Our MEG team was able to fulfill this quickly and efficiently, through our Qingdao subsidiary, getting the customer the terms they needed. This type of order is precisely why we developed our S2F2C model, and we’re delighted our Qingdao activities are underway.”

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Riot Blockchain Announces Additional Purchase of Bitmain S19 Antminers

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Bitmain S19

Riot Blockchain, Inc. (NASDAQ: RIOT) (“Riot” or the “Company”), one of the few Nasdaq listed public cryptocurrency mining companies in the United States, announces the purchase of an additional 1,040 next generation Bitmain S19 (95 TH) Antminers for USD $1.9 million from BitmainTech PTE. LTD. (“Bitmain”).

On April 30, 2020, Riot announced its purchase of 1,000 S19 Pro (110 TH) miners. The combined purchase of the 2,040 new S19s, is another step supporting the Company’s recent strategic initiatives focused on expanding its bitcoin mining operations. The purchases were funded from Riot’s available cash on hand. Riot anticipates that the total 2,040 new S19 miners will be received and deployed in the third quarter of 2020. Once the total 2,040 new S19s are received and fully deployed, Riot estimates its aggregate operating hash rate will increase over 80% to approximately 457 petahash per second (“PH/s”) and utilize approximately 16.5 megawatts of energy.

The latest generation of bitcoin (“BTC”) Application-Specific Integrated Circuit (“ASIC”) miners from Bitmain are markedly more energy efficient than prior Bitmain models and other ASIC miners currently available. The May 6th purchase of 1,040 Bitmain S19 Antminers boast a hash rate of 95 TH/s and an energy efficiency of 34.5±% 5 joules per terahash (J/TH).

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What You Need To Know To Profit From Bitcoin’s Upcoming Halving

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Bitcoin is an asset that acts and behaves very differently to a lot of others, as well as other markets. The digital currency is a decentralized asset, and this means that its market is not impacted by centralised decisions. In oil, for example, the price can be changed by decisions made by OPEC, but with Bitcoin, there is no one figure that can change how the market moves.

In saying that, there are a few occurrences that happen internally with the coin that are purported to have major roles to play on its overall price and market. One such incident is fast approaching — the Bitcoin mining reward halving. This event, scheduled for around the 12 of May, will have a massive impact on Bitcoin’s mining community, but it could well spill over to its price.

The Bitcoin mining reward halving is where the rewards that come from unlocking a new block on the Bitcoin blockchain are slashed in half. This will be the third time this happens which means the reward of 12.5 BTC for solving an algorithmic equation and unlocking a block will now amount to 6.25 BTC.

This is done in order to keep the coin scarce, and leads to deflation, rather than inflation. So, while this halving will affect miner profitability overnight, its macro-economic impact is pretty straight forward in terms of the market influence. With less reward for each new block means less new Bitcoin being added to the circulating supply. Less new Bitcoin means lower supply, which means higher demand, which should mean a growing price.

However, there is more to it than that, and there are a lot of considerations to look at when deciding if the May 12 halving will cause renewed price action for Bitcoin, or not. Many experts have weighed in on how the Bitcoin mining reward halving will impact its price, and their thoughts are very varied. Some believe it will send the price skyrocketing, some predict no impact whatsoever.

Historical evidence

Bitcoin has had two halvings in the past, both of these sliced the reward by 50 percent, but interestingly, both of these also saw the price of Bitcoin increase by the same, rather large, percentage.

Twitter Trader and technical analyst, Rekt Capital, predicts that the new all time high for Bitcoin following this halving will be as high as $40,000, based on historical evidence alone. He pointed out that, following the first halving in November 2012, Bitcoin’s price increased from a $2.01 bottom to the top of $270.94 – a 13,000 percent increase. The second halving, in July of 2016, saw Bitcoin go from a bottom of $164.01 a top of $20,074 – a similar increase of 12,000 percent.

Thus, if Bitcoin rallies somewhere between 12,000 and 13,000 percent, then the price would come to a top of anywhere around $40,000 in the coming months, or even years, after this halving event in May.

A slow start

What Rekt Capital does not offer in his prediction is a timeline. Many predictors say that even the simple event of the halving happening will start to move the price of Bitcoin because people will start trading on the potential of the news rather than the impact of it.

However, a more measured prediction comes from mining giant Bitmain’s founder Jihan Wu. Wu has said that he does not think Bitcoin will immediately start taking off following the reward halving due to the fact that the global economy is currently under such pressure with regards to the Covid-19 pandemic.

“As Bitcoin’s market cap grows, its volatility decreases and becomes more stable,” Wu explained. “That means we may not see abrupt spikes in its price. No matter how high Bitcoin goes, one day it will reach a top. Before that, it will see prices with flatline growth with some twists in the next few years.” Wu also added:

“I think the bull this time around may not come immediately after the halving. There likely will be a delay in time.”

Deflation in a time of hyperinflation

Another aspect to consider in this time of financial uncertainty is that Bitcoin could start being much more valued for its deflationary moves in a time where different economies are flirting with inflationary monetary policies.

The USA and its Federal Reserve, for example, have suggested that they are happy to print almost infinite amounts of cash in order to try and float the economy, increase liquidation, and stimulate spending. While this policy would help keep the economy going, it could also severely damage the value of the dollar.

Just like a lower supply means higher demand, and higher value, the printing of money can lead to oversupply and inflation which can debase and devalue the dollar. So, people may start looking at Bitcoin as an anti-correlated asset, and one that will be lessening its supply in the coming years, as a good asset, leading to higher price actions.

Blockstream’s Samson Mow recently responded to anti-Bitcoin economist Nouriel Roubini, who said: “Bitcoin Isn’t Down Because of China, It’s Down Because You Don’t Need It,” while linking to an article on Forbes. Mow’s response pointed out these macroeconomic principles at work.

“Bitcoin is down because we’re still in the phase where we mint 1,800 $BTC a day. At $9,000 price levels, $16.2 million a day is required to maintain a stable price. The upcoming halving will fix this. Weak hands can GTFO,” Mow responded.

Planning ahead

One other aspect to consider when thinking about if Bitcoin’s price is going to rise with the upcoming halving is to consider if the traders and market makers have already priced in the halving’s impact.

This would mean that, in anticipation of the halving, people may have already started buying up Bitcoin, holding onto it, and preparing for its value to increase with lower supply meaning that when the lower supply arrives, the price has already reacted.

Bitcoin miners may be part of the reason why the price may already be in as they have been increasing their own efforts to mine the coin when the rewards are still up, and many of them would have been holding those coins, meaning that there is already less new money entering circulation.

However, Binance CEO Changpeng Zhao recently stated: “I personally believe the halving has not been priced in.”

This is backed up by Alexander Kravets, CEO of CEX.io U.S., who believes that the stock-to-flow model — measuring the size of existing supply versus yearly production — has worked out correctly in the past. Kravets has predicted that:

“If we consider Bitcoin a commodity like the CFTC does, then Bitcoin — like other commodities — has a built-in floor representing the cost of production. I think what we saw this winter may have been an established price floor set by the miners of around $6,800 — but as the block reward is cut in half, we can see the price floor rise to what many speculate to be just under $9,000.”

Things are looking up

While there are a number of different predictions surrounding the halving, and they are all very different, the majority of them see the price of Bitcoin only going up in the months, and years, to follow. It makes economic sense for this to happen, but when and how it will happen, is a lot more uncertain.

Bitcoin has, for most of its history, been on an upward trend as it was the best performing asset over the last decade. As things go on, it only makes more sense that the coin will keep rising along with ongoing decreases in its supply.

In order to try and be a part of the next major price action from Bitcoin, it is imperative to find a good exchange and platform to start trading and getting into Bitcoin.

There are many different Bitcoin trading platforms out there currently, but PrimeXBT ranks as one of the best options for extracting maximum opportunity out of the upcoming Bitcoin halving. Of course, buying Bitcoin is one way to make money off the halving, and PrimeXBT makes getting your hands on BTC very easy with excellent mobile app for Android and Apple, this means buying Bitcoin on the go is simple, and with minimum deposits of only 0.001 BTC (less than 10 dollars) that can be made via a BTC address, with USD or even through altcoin via Changelly, it is very easy to enter the market with PrimeXBT.

But, what sets PrimeXBT apart from other platforms is that it allows users to profit off of Bitcoin regardless of which direction the price of the coin goes after the halving. PrimeXBT lets traders short or long the Bitcoin price which means that even if the coin loses value after the halving, you can still profit through using short positions on PrimeXBT. There is also the option to hedge positions by opening long and short positions simultaneously as following the halving there are unprecedented price movements expected. PrimeXBT also allows for major profits because it offers up to 100x leverage — which means the potential for exponential profits when used in conjunction with the many other features PrimeXBT offers traders to succeed. These profits are further maximized by the fact that PrimeXBT has some of the lowest fees for trading around that gets better the more you use the platform with its progressive fee discount system that can cut fees by an additional 50 percent for big-time traders.

PrimeXBT is a great trading tool to use before, and after the Bitcoin halving because the many different advanced trading tools offer traders a chance to master almost any movement the market makes. We have seen that the predictions of what will happen after the halving are so varied that it pays to be able to use things like Stop Loss orders, Take Profit Orders and OCO orders that PrimeXBT offers.

More than that, the built-in charting software allows traders to plot trend lines, draw patterns, support, resistance, and more with over 50 different technical indicators including MACD, RSI and Bollinger Bands. Traders can also trade with confidence as PrimeXBT boasts bank-grade security for its platform and the digital assets contained within. It has features such as address whitelisting, two-factor authentication, cloudflare DDoS protections, and more features that not only protect your funds, but also secure your trading experience.

This mining reward halving is predicted to be a major event for the Bitcoin market in the coming weeks before it happens, as well as for a long time afterwards. Having a platform like PrimeXBT with its robust and anglie trading options, set up with a customisable interface to how you like to trade, means that there is a big opportunity to maximize profits like no other time in Bitcoin’s history. To get started on making profits off this upcoming event, regardless of which way the market moves, sign up for PrimeXBT here.

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Huobi Token Becomes First Exchange Token Approved By Japanese Regulators

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Huobi Group

Japanese financial regulator, Japan Financial Services Agency (FSA), has approved Huobi Global’s native exchange token, Huobi Token (HT) as a compliant crypto asset to trade in the world’s second largest digital asset trading market. HT will begin trading on Huobi Japan in May.

HT is the first leading exchange platform token to pass regulatory scrutiny as it joins 25 other compliant tokens that have already been approved by the Japanese FSA. With Japan positioned as one of the more thorough and meticulous regulatory bodies that is driving innovation within the cryptocurrency ecosystem, this approval marks a major milestone for Huobi’s ongoing efforts towards global compliance.

HT’s approval comes at an opportune time as Japan tightens regulations and updates existing laws to better define crypto assets. Last year, the Japanese House of Representatives passed revisions to two pieces of legislation, the Payment Services Act (PSA) and Financial Instruments and Exchange Act (FIEA), to classify and regulate crypto assets. Japan is expected to begin enforcing the revised versions of the PSA and FIEA starting on May 1.

Huobi Japan, a subsidiary of Huobi Group, will be the first to support HT in Japan when the token begins trading in May. Huobi Japan launched at the end of 2018 having received the “Kanto Finance Bureau No. 0007 license issued by the Japanese Ministry of Finance. This allows for the Japanese platform to support six digital assets, 10 trading pairs, as well as a fiat-to-crypto on-ramp for the Japanese Yen.

HT Ecosystem

By working with local regulators to bring HT to the Japanese market, Huobi aims to significantly expand the token’s ecosystem as user adoption rises across the globe. HT was recently accepted as a payment option for charitable donations to Project HOPE, a global nonprofit organization that has been providing health development and emergency relief since 1958. Earlier in the year, Huobi partnered with a leading crypto-friendly hotel booking platform to integrate HT as a preferred payment method on Travala.com. HT will also act as the native ecosystem token of Huobi Chain, Huobi’s regulator-friendly public blockchain for banks financial institutions that’s slated for mainnet launch later this year.

To further expand HT’s utility beyond the Huobi ecosystem, Huobi is accelerating efforts to integrate with third-party partners, including international credit cards, digital bank cards, blue-chip technology companies, and global entrepreneurship centers.

About Huobi Group

Consisting of numerous upstream and downstream enterprises, Huobi Group is a leading global blockchain company. Established by Leon Li in 2013, the company’s Huobi Global exchange accumulative turnover exceeds US $3 trillion. Huobi proudly provides safe, secure, and convenient cryptocurrency trading and asset management services to millions of users in 170+ countries. For more information: www.huobi.com.

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