Bitcoin’s rough December could spark a shift toward altcoins. The digital currency has faced a 2% drop this month, weakening hopes for a “Santa ral...
Trust and security are mandatory, especially when you’re about to invest in stocks or cryptos. Thus, asking if your money is safe isn’t the way to go. Instead, you could go to a regulated exchange to ensure your investment is safe and take specific steps. A fully regulated exchange is more than an aid to alleviate potential scams; it is THE tool within your trading toolbox that makes or breaks your gains. Thus, one of the most talked about crypto exchanges, Levex , secured an MSB license from FINTRAC, allowing it to operate legally in Canada. Levex Gets Regulatory Green Light in Canada As mentioned, a crypto exchange needs to be fully regulated to ensure users’ trust and, most importantly, to be available in various countries. For example, Levex has now obtained the Money Services Business (MSB) license from Canada’s FINTRAC, giving it a green light to operate in Canada. This achievement highlights Levex’s constant efforts to establish itself as a compliant and reliable platform while adhering to Canada’s strict anti-money laundering and counter-terrorist financing standards. If you’re curious about why getting an MSB license from FINTRAC is so impactful, it’s because this certification is essential in regulating financial activities. The truth is that without an MSB license in Canada, businesses cannot offer key financial services like currency exchange, money transfers, and virtual currency transactions. As a result, the MSB license also guarantees Levex FINTRAC, the governing body enforcing these regulations, ensures licensed companies uphold strict rules to protect the financial system from unlawful practices. For Canadian users, this license signals a new confidence level in Levex’s platform, underscoring the company’s devotion to creating a safe and transparent environment for virtual currency transactions while meeting the country’s rigorous regulatory demands. So, considering this outstanding achievement, Levex is set to lead as a trusted and steadfast crypto exchange in the Canadian market. A Vision for the Future The MSB license marks Levex’s first step into operating as a licensed company in North America, but it’s just the commencement. The company plans to build on this victory by growing its global presence and offering more services, all while working closely with regulators in additional countries to guarantee compliance. Levex seeks to prove itself as a world leader in crypto trading, delivering innovative solutions that meet users’ needs worldwide. The organization is also dedicated to extending the crypto trading experience, focusing on compliance and security and assuring customer satisfaction. Looking forward, Levex visualizes a future where cutting-edge technologies make crypto trading more accessible, safer, and efficient for everyone, regardless of their experience level. They’re committed to staying ahead of industry trends and improving their platform to offer users the best tools. By preserving a strong focus on user trust and confidence, Levex plans to create an ecosystem where users can trade digital assets with peace of mind, knowing a transparent, reliable, and forward-thinking exchange supports them. Regulated and More Than That Besides its current achievement of securing a license to operate in Canada, Levex has much more to show. The platform is developed to make crypto trading easy and accessible for everyone, whether you’re just starting or a professional trader. Levex provides a secure and user-friendly environment. It supports various cryptocurrencies and offers options for spot trading and derivatives. The platform’s simplicity ensures users can trade easily, regardless of their experience level. Moreover, Levex is committed to five core values: Transparency; Fairness; Community; User-focus; Empowerment. These values shape everything the company does, from platform development to customer support. Levex is dedicated to creating a smooth, intuitive experience that prioritizes the needs of its traders. Beyond that, Levex is a growing community. The company is always working to improve the trading experience and give users the tools and help they need to succeed. Whether you’re new to cryptocurrency or an experienced trader, Levex is a platform that lets you trade confidently and easily. Learn More Visit Levex’s official website to learn about its latest achievements and better understand the company, platform, and services. You can also stay updated with the latest news, announcements, and insights by following them on X (Twitter) and Telegram . The post Levex Acquires Canadian MSB License appeared first on CoinGape .
Binance, the world's largest cryptocurrency exchange, has issued a warning for a well-established altcoin. At this point, Binance warned its users about the altcoin called IOTA, announcing that it has switched to the new token-economy model. Binance stated that after the new model, the total supply and circulating supply of IOTA will increase significantly and that a risk warning for IOATA will be included on the transaction page. “The total supply and circulating supply for IOTA (IOTA) will increase significantly. Users will also be shown a risk warning pop-up and banner on the Binance trading page.” In the official statement made by the IOTA team, it was stated that IOTA will switch to a new tokenomic model called “IOTA Rebased”. With this new model, IOTA will offer a sustainable token economy model with an annual inflation rate of 6% (767,000 IOTA per block). Accordingly, it is planned to produce 767,000 IOTA per epoch with an annual inflation rate of 6% on the network. It was stated that in this new model where staking rewards will be offered, transaction fees will be kept low and the transaction fee is planned to be approximately 0.005 IOTA. IOTA, which experienced a slight decline after the Binance announcement, continues to be traded at $0.31. *This is not investment advice. Continue Reading: Binance Warns Its Users About Deep-Rooted Altcoin!
Crypto influencer Ash Crypto (@Ashcryptoreal) recently revealed on his X platform that investment giants BlackRock and Fidelity have…
Ripple USD (RLUSD) stablecoin went live globally on December 17
BlackRock, the world’s leading asset management company, reportedly spent $1 billion on bitcoins just on the eve of the sharp decline of the BTC price. The latter was triggered by the Fed Chair’s announcement of the change of pace for…
BlackRock, the world’s leading asset management company, reportedly spent $1 billion on bitcoins just on the eve of the sharp decline of the BTC price. The latter was triggered by the Fed Chair’s announcement of the change of pace for rates cut. The announcement was accompanied by statements that dropped a shadow on the strategic Bitcoin reserve plans. 📉 Bitcoin's price correction continues into Friday, Dec. 20! 🇺🇸 The leading crypto has dropped over 13% in just 48 hours, falling from an all-time high of $108,364.💔 This significant market shift is largely due to the U.S. Federal Reserve's recent “hawkish” 0.25% rate cut and… — Bitcoin.com News (@BTCTN) December 20, 2024 December 18, 2024, will be remembered as the day when the U.S. Federal Reserve Chair Jerome Powell set the crypto market on fire with a couple of phrases. The Fed, to the surprise of many, proposed a reduction of the rate cuts for 2025: there will be two interest rate cuts the next year instead of four, as was expected before. The lower interest rates are usually fueling the crypto market. Therefore, the rate cut reduction is a bearish signal. On top of that, Powell said the central bank is not allowed and is not even interested in holding any Bitcoin ( BTC ). Read more: Powell: Fed not allowed to own Bitcoin Several experts call the federal funds rates cutting by 25 basis points “hawkish” or even “aggressive.” The move caused a panic sale on the crypto market. Bitcoin dropped by 13% within 48 hours. Many altcoins saw even a harsher price drop: Dogecoin lost 26%, Ether declined by 16%, while XRP was down by 18%. The CoinGlass data indicates that over 1.4 billion dollars in leveraged long positions have been liquidated within a single day. Stock markets saw a substantial drop, too. Was a one-billion-dollar BlackRock investment in Bitcoin a fatal mistake? One may think that buying $1 billion worth of BTC one day before the dip would have been a catastrophe. However, we can take the example of BlackRock and see how such unfortunate timing for a massive buy-in may not be deadly in the long term. According to Arkham, BlackRock spent $1.5 billion on bitcoins within the week. A $1 billion investment in Bitcoin was made just before the dip at the price between $103k and $107k, meaning that the company purchased nearly 10,000 BTC. As of December 20, BlackRock owns over 553,000 BTC, which is around 2.6% of the total supply of Bitcoin. This investment was a 1.8% increase in the total IBIT (BlackRock’s iShares Bitcoin Trust) BTC holdings. According to the latest data from Fintel , the total holdings of BlackRock are valued at $4.7 trillion. However, other sources estimate the BlackRock holdings at over $11 trillion. The Bitcoin share of these holdings is pretty tiny, which is in line with the recent BlackRock recommendation to allocate up to 2% of Bitcoin in a multi-asset portfolio to hedge against market turbulence. It is clear that missing a better buying opportunity that occurred the day after, when the BTC price slipped under $93,000, was unfortunate. However, the value of the overall BlackRock portfolio is high enough to absorb this drop in value without much drama. Considering how many times Bitcoin was “crashing” only to recover at a higher value, this price downfall is negligible. What matters more is the fact of acquiring more bitcoins, which continue to grow in value and get scarcer with time. BlackRock and the Bitcoin scarcity discussion It seems that BlackRock is the prime beneficiary of Bitcoin’s scarcity. Interestingly enough, it was BlackRock who sparked the online debate about the immutability of the famous Bitcoin’s 21 million hard caps. JUST IN: BlackRock releases 3 minute educational video explaining what #Bitcoin is. pic.twitter.com/EjqBbV0GRn — Bitcoin Magazine (@BitcoinMagazine) December 17, 2024 On December 18, BlackRock released a 3-minute-long educational video explaining the basics of Bitcoin. At some point in the video, we can see the subtitle that reads, “There is no guarantee that Bitcoin’s 21 million supply cap will not be changed.” This little remark did not go unnoticed by the crypto enthusiasts and professionals. The Bitcoin historian and the Gorilla Pool founder Kurt Wuckert Jr. took to X to raise the question about possible reasons that made BlackRock “lube up the idea of adding inflation.” The removal of the 21 million supply cap is not impossible. The Bitcoin community can do it through a hard fork. However, the implications of such a move can shake the future sustainability of the first cryptocurrency. At large, Bitcoin security owes to the incentivization of the miners. However, if Bitcoin scarcity is not a thing anymore, the reward value may drop, making the network less protected and more vulnerable. Several users replied to Wuckert that they see the mention of the potential removal of the hard cap as a formal disclaimer made to avoid lawsuits in the event Bitcoin becomes inflationary. Others voiced the opinion that the forked Bitcoin that won’t have a 21 million limit will rather be something else and not a Bitcoin, while the hardcore community will stick with the original version. Conclusion BlackRock is willing to experiment with the relatively new asset. No matter how much of the entire BTC supply is already owned by this company, it won’t risk investing in it more than it can afford to lose, and the recent buy-in is just another purchase made by a corporation that definitely sees the value in Bitcoin itself. After all, 1 bitcoin is worth 1 bitcoin. You might also like: BlackRock on Bitcoin: 2% allocation reasonable for portfolios
The next 10x crypto may have just started its initial coin offering (ICO). Meme Index (MEMEX) , the first-ever decentralized meme coin index, has raised over $280k in its early token presale rounds. As the name suggests, the new project allows investors to benefit from meme coin baskets, created by community votes, rather than individual tokens. Meme Index - Invest In Decentralized Meme Coin Indexes Its whitepaper describes itself as “a huge step in the meme coin ecosystem”, not without any merits. This is the first time investors will be able to benefit from meme coin indexes, created by the MEMEX community. In fact, they will have their pick, considering Meme Index is launching four meme coin baskets, each with a different risk-reward potential. The Meme Titan Index is designed for safe players. The basket will comprise the large caps and the blue chips, with each token likely having a valuation of over $1 billion. However, even the safest meme coins offer outsized returns. With Dogecoin and Pepe likely in this basket, investors choosing it could still earn outsized returns. Next up is the Meme Moonshot Index, featuring the challengers. The basket will include tokens that are likely next to hit the billion-dollar market cap. Considering the upcoming meme coin supercycle, this index could potentially earn significant profits. The Meme Midcap Index is next, including tokens with $50 million to $250 million valuations. Some experts solely invest in such tokens, considering they already have considerable community backing but also have significant potential for upside growth. Binance - and lately Coinbase - have been prioritizing listing meme coins from this bracket. Finally, the Meme Frenzy Index is designed for the degens, those with high-risk appetites and who eye the maximum bounty. The basket will solely include low-cap tokens. Crucially, however, the tokens included will be voted in by the MEMEX community and, therefore, are unlikely to be outright scams. In fact, this index could potentially be one of the safer ways to invest in high-risk high-reward tokens, particularly for retail investors who are always late to the party. These small-scale traders may benefit from projects they never have even heard of, thanks to the power of the community. With market-wide exposure, a plethora of tokens and decentralized governance, it is no surprise why Meme Index has created such a buzz even before its launch. However, only MEMEX holders will be able to vote and access the indexes, hence the high demand for the token. Is MEMEX The Next 10x Crypto Presale? The current market uncertainty hasn’t shaken the conviction of the bulls - a meme coin supercycle is on the horizon. In such extreme market euphoria, tokens with much less value than Meme Index end up offering over 1000x returns. It is, therefore, no surprise that smart money investors have already started calling MEMEX the next 10x crypto. Others are eyeing much higher returns, owing to the project’s native staking pool which is currently offering a yield percentage of over 5000%. Besides the meme coin indexes, MEMEX is a token with strong fundamentals. For instance, it has adopted community-centric tokenomics, with no token supply allocation for the developer team or any private sale. A significant 20% of the token supply has been set aside for community rewards, in addition to the 25% supply for staking rewards. However, the attractive perks don’t mean that Meme Index has compromised with safety and transparency. For starters, the MEMEX smart contract has been audited by Coinsult and Solid Proof , with the audit reports available on the presale website. Interested buyers can purchase MEMEX with just a few clicks, using the over-the-counter widget on the Meme Index presale website. They are also advised to follow the project’s X and Telegram accounts to keep up with the latest updates. Visit Meme Index Crypto Presale Disclaimer: This is a sponsored article and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.
Ethereum faces resistance at $3,500, yet emerging metrics indicate an upswing in trader and institutional confidence. Despite recent bearish trends, the long-term outlook for Ethereum remains supported by sustained demand
Trrue, a layer-1 blockchain focused on environmental, social and governance (ESG) compliance and real-world asset tokenization received a $10 million investment commitment from GEM Digital, the company said in a press release on Tuesday. The money will be used to accelerate the development of Ireland-based Trrue's platform, the company said. GEM Digital is a Bahamas-based $3.4 billion alternative investment group that specializes in the digital asset sector. It will receive TRRUE tokens in return for the investment. The company invests in utility tokens listed on centralized (CEXs) and decentralized exchanges (DEXs). The token is being offered at $0.10 on a number of launchpads, the company said on X, with a total of 300 million tokens being sold. Listing is planned for Dec. 27. Trrue said it is dedicated to creating a blockckchain ecosystem that promotes transparency, accountability and sustainable investment opportunities, adding that the TRRUE utility token is central to this plan. "With GEM's backing, we are equipped to accelerate our development, onboard impactful projects, and redefine how blockchain supports ESG-aligned initiatives," CEO Owen O'Driscoll said in the statement. The funds will be used for product development, ecosystem growth and further exchange listings for the platform's utility token, the company said.