NFT investors are demanding that marketplaces recognize and give value to their users, prompting competitors like LOOKS, SOS and WTF to launch ambitious vampire attacks on OpenSea.
Several regulators around the globe have taken a hostile approach around crypto exchanges and crypto-related companies by forbidding them to advertise the industry to the general public. However, Binance’s CEO Changpeng Zhao thinks this will not affect the high demand of the market. Curbing Crypto Ads Crypto-related firms have been accused by international regulators of marketing their services with misleading messages that undermine the risk digital assets investments could possess to users. Spain, U.k., and Singapore have banned the advertisement of crypto to different extents. In Singapore alone, crypto exchanges and other licensed companies can only publish ads on their own websites and mobile apps to avoid reaching the general public. The country’s ban includes “any form of advertisements or promotional materials in public areas such as Singapore public transport, public transport venues, broadcast media or periodical publications, third party websites, social media platforms, public events or roadshows.” “MAS stresses that DPT service providers should conduct themselves with the understanding that trading of DPTs is not suitable for the general public. These Guidelines set out MAS’ expectation that DPT service providers should not promote their DPT services to the general public in Singapore.“ Spain requires a pre-approval for any crypto advertisement directed towards an audience of 100,000 or more people and all ads and must include a warning like such: “Investments in crypto-assets are not regulated. They may not be appropriate for retail investors and the full amount invested may be lost.” In the U.K., authorities have banned several ads that they have claimed to be “irresponsible and took advantage of consumers’ inexperience or credulity.” Related Reading | Fidelity Says What We’ve Been Thinking: Countries & Central Banks Will Buy BTC Why It Won’t Affect Price The price of cryptocurrencies is driven by demand and supply, meaning the interest users have in the market and the availability of each digital coin. For this reason, the effects that bans might have on the adoption of cryptocurrencies are believed to be important for the future of the market. Binance CEO Changpeng Zhao (also known as “CZ”) alleged during a CNBC International interview that the reason why regulators take this approach on advertisements is that the crypto industry has a huge demand. Even though the CEO thinks these bans could slow down the industry’s growth, CZ is not worried about the macro picture because he thinks the demand for crypto is so high that curbing crypto ads will have little impact. Changpeng Zhao claimed that most users are driven to the crypto industry through “word of mouth” marketing rather than ads. “Clampdown on crypto advertising is unlikely to have much of an effect on demand, as most of the crypto users come from word-of-mouth promotions anyway.” CZ noted that Facebook and Google opposed crypto ads for a long time and even though they are giant platforms that reign over the internet, this has not affected the adoption of digital assets. Binance is the largest crypto exchange in the world and it recently withdrew its application to start a cryptocurrency exchange in Singapore after facing pressure from the country’s regulators over concerns of risks and consumer protection. The exchange, however, has not lost interest in conducting business in the country. The global regulatory framework is miles away from becoming clear, and Binance is working to adapt and comply, taking “strategic, commercial and developmental” considerations. CZ stated that Binance hasn’t driven its eyes away from Singapore for the country might change its regulatory framework later on. The future location of Binance headquarters remains a mystery. CZ said they are exploring “everywhere in the world.” The CEO noted that Binance is working with many authorities to help them build a comprehensive regulatory framework for the crypto market. Related Reading | Binance’s CZ Wants Entrepreneurs To Create Coins. Does His Argument Make Sense? Crypto Total Market Cap At the time of writing, the global market cap of cryptocurrencies sets its price at $1,8 trillion, showing a decline of %3 in the daily chart.
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I wanted to just check it out. I have a 1080 with 8Gb of RAM and assuming my PC is using 400W (my guess this is an overestimation). I used lolminer and setup a Metamask wallet to send to. After setting up the bat file, i was getting 23.5 MH/s. I really have not messed…
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We at Tong Jerky would like to wish all of our fellow Ethereum users a happy new year and remind everyone that we accept ETH as a payment. For all of you wonderful people that might be interested in our products you can use the discount code "ETH" for 20% off at checkout. Visit our…
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I’m poor and trying to secure my future. If I start putting in a good amount of each paycheck into it, do you guys think I can make some good money years on out? What about Bitcoin? I feel like both of these cryptocurrencies are eventually going to be even way bigger than they are…
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According to cache:https://www.gazeta.ru/business/news/2022/01/20/17170255.shtml (already deleted, but internet and cache remember everything) no one in Russia is going to ban crypto. The news said that the size of the annual bonus of the financial department of the Central Bank directly depends on the citation index in the media. It is for this reason that today they…
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The host of Mad Money, Jim Cramer, has warned about dogecoin (DOGE). He said that the meme cryptocurrency is a security and will be regulated. He also questioned the supply of dogecoin. Jim Cramer’s Dogecoin Warning Jim Cramer, the host of CNBC’s Mad Money, warned about investing in dogecoin (DOGE) Thursday. Cramer is a former […]
Millionaire investor Raoul Pal has revealed how much he owns of bitcoin, a cryptocurrency that he has been known to actively promote in the past. In what was a shocking revelation, the CEO and founder of Real Vision posted his bitcoin holdings on Twitter, which turned out to be lower than everyone’s expectations. Pal disclosed that he only owned a measly 1 bitcoin. Why Does Raoul Pal Only Own 1 Bitcoin? The CEO got into a heated Twitter argument with Greg Foss after Foss insulted Pal. In a response to another user who defended the CEO saying they liked him, Foss explained that he was “just calling out the BS.” This is where Pal came into the conversation demanding to know what exactly it was that Foss was accusing him of as he’d like to know. Related Reading | Bitcoin Millionaires Are Flocking To This North American Tax Haven. But What Do The Locals Think? Foss continued on to explain that he did not agree with Pal promoting his trading mechanism to other traders who were less inclined to understand how it worked, pointing towards bond math. Pal however disagreed with Foss’s assessment, stating that he did not hold his views on bonds as a philosophy, rather just a mechanism which he uses to trade. The argument continued on, eventually culminating in Pal stating how much bitcoin he owned, which it turns out is a single bitcoin. The founder and CEO of Real Vision explained that it was because of the bitcoin community’s approach to inclusion that led to this decision. Pal lamented the exclusion of others from the space who happen to share a different viewpoint from the accepted majority. BTC price recovers above $43,000 | Source: BTCUSD on TradingView.com “This is why I hold only one bitcoin, the community has lost sight of inclusion and you sir, are helping reduce the network effects by excluding people who don’t share your view from the network,” said the CEO. It eventually ended with Greg Foss conceding and acknowledging he was wrong to have attacked Pal in the first place. In a separate tweet, Foss tendered an apology to the CEO, stating that he regretted his actions. Some times you pick a fight with the captain of the opposing team (cuz u are fed up and want to brawl) That is rarely a smart move. Tonite I chose that path and I regret my actions. I apologize to @RaoulGMI I made a rookie error. We have bigger battles to fight. GF — Greg Foss 🇨🇦 (@FossGregfoss) January 20, 2022 Not Completely Out From Crypto Despite his views on the bitcoin community, Raoul Pal has not entirely ruled crypto. Even bitcoin has not been completely ruled out as evidenced by his tweet stating that he does own one BTC. However, Pal has moved on to other things in the crypto space. Given his comments not too long ago, the CEO is now more bullish on ethereum compared to bitcoin. Related Reading | Bitcoin Implied Volatility Plummets To Pre-Bull Market Levels: What This Means Pal noted back in November that he expected ethereum to continue to outperform bitcoin given its performance in previous months. The millionaire investor still holds a well-rounded bullish view on bitcoin but expects ethereum to be the better investment of the two going forward. A month before this, Pal had received that he made the biggest personal position of his life in ethereum. He explained that he is long the digital asset which he placed at the $20,000 mark by the second quarter of 2022, less than six months away from now. Featured image from iGaming.org, chart from TradingView.com
