Category: Cryptocurrency News

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Meeting international Anti-Money Laundering standards is the latest in a series of measures Japan has taken in recent months to improve its cryptocurrency regulation.

Despite the bear dominance, global cryptocurrency adoption remains on the rise. This growth fuels the influx of new entrepreneurs coming to the crypto industry and looking for opportunities to launch their own innovative product. We asked those who already succeeded in the cryptocurrency-related businesses what newbies in the crypto market should keep in mind when starting their entrepreneurial path in this fast-evolving world. Love on your product and focus your efforts In technology, IT, and crypto, as in any other business, it’s essential to love what you do because it’s the only possibility to go all the way. Remember that the concept of digital money was created dozens of years before Bitcoin’s birth. However, only Bitcoin achieved public attention and adoption. “What matters is to create a product you would use yourself and be proud to recommend it to your friends without hesitation. You have to believe in yourself — don’t be afraid or to pay attention to haters, the environment, the weather, or any other turmoil,” Co-founder of TTM Group Vladislav Utushkin believes. He recalls the history of Ethereum creation when everyone in the crypto entourage said it was complicated, even impossible to implement, and that the project would not take off. Today, Ether is the world’s second most important and capitalized cryptocurrency. “Use a step-by-step strategy on your personal path, go forward in small steps, and in the end, you will surely reach your goal. It’s imperative to set a goal, most people usually have a problem with that — and just jump into the abyss. Remember Forest Gump? “Never, ever take your eye off the ball”! That’s, basically, all you need to know about ping-pong — excellent advice, in my opinion.” Be open-minded Even if an entrepreneur has experience in business, the crypto market is able to nullify everything that he knew before. Therefore, it is vital not to harden in your convictions, to be flexible, adaptive and ready to learn from someone else’s experience. “Crypto is a very new market, where many business models are not seen in the traditional field. To a large extent, the successful experience of other industries is invalid for the crypto industry, so it is especially important to acquire knowledge and a large amount of information about the industry,” Founder and CEO of Star Consulting Jenny Yang underlines. Jenny Yang, Founder and CEO of Star Consulting Her advice is to do a lot of market research and communicate more with pioneers with rich industry experience and players who had a lot of successful projects, so they can get first-hand information about the industry. “Thus, they would know where the market pain points are, what problems need to be solved, how to efficiently obtain financing, how to formulate a GMT strategy that is in line with the field, and so on. This can help you avoid many traps, save a lot of time and improve your chances of success.” Build a strong team The first and one of the biggest challenges an entrepreneur faces is recruiting a team. The goal of every leader is to create a friendly, professional and involved team that will work as a single organism. If the founder and his deputies have different management approaches, they face problems when making decisions. In this case, all the team and the business processes suffer from an atmosphere of disagreement. The first thing to start with is to hire professional department leaders with experience in certain areas. The second step is to find other employees with the help of the expertise of those department leaders. “Challenge number one is to find an appropriate candidate. There are a lot of candidates on the market who think that they deserve huge salaries and enormous bonuses but they actually cannot deliver properly, so there are overexpectations on their own skills,” Max Kei, CEO Debifi, believes. Pay more attention to regulatory landscape It’s no secret that the crypto market is not yet as regulated as the financial or banking sector. But it is also no secret that global regulators are paying more and more attention to cryptocurrencies and their regulation. In the crypto industry, legislative initiatives appear almost every month. And companies associated with cryptocurrencies have to constantly keep their finger on the pulse and monitor the regulatory landscape. Otherwise, they run the risk of being overboard in a legal sense. Michael Christine, Chief Executive Officer at MNNT  “The biggest piece of advice that I give every single company right now trying to break into the crypto space is to hire a lawyer early. I have seen so many companies in just the past two years launch projects that will likely find them in legal hot water in the future. Specifically, with the ever-changing financial regulatory laws being applied to the space. So, my advice to anyone trying to break into the crypto space is to do it right the first time so you’re not burning resources in the future to fix past mistakes,” Michael Christine, Chief Executive Officer at MNNT, recommends. Money is not the goal The ultimate goal of any corporation is to make money. But money should be considered as the main goal when launching the business. Making money is a side bonus on a long way to success. It should not be the main goal. “My main advice is “Do not fall for easy money” without proper understanding of what you should do. Always be humble, you need to always remember your main goal. If your goal is just to make easy money, then it means that you actually don’t care about your product, users. You just care about yourself,” Max Kei, CEO Debifi, believes.   Image: Vladislav Utushkin, Co-founder of TTM Group

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Can someone please help me out? I submitted a transaction to unwrap my ETH over 24 hours ago but have not received anything back yet? Is there something I’m missing or need to do? Wallet 0x688085Fa2AB43A5beF251Bf7a75C396bC4EC6baB Hash 0x3afa99426038eec74f80324a7ce6110e3d154c4c7ed844a90d699d9d0cea7e2f Any help would be appreciated submitted by /u/NotConviX [link] [comments]

PRESS RELEASE. New York, 09/27/22: US-based Posh Markets Inc has announced the presale of PoshCoin, the all-new cannabis cryptocurrency, on September 28, 2022. With this presale, the company aims to offer end users – cannabis fans an opportunity to gain insights into PoshCoin before unveiling it to the general public. The much-awaited presale of PoshCoin […]

Short bitcoin has been at the forefront of investors’ attention over the last few months. Since it launched, it has garnered an impressive asset allocation and has not eased up. This is not surprising as the market had begun another bear run. However, last week, investors began to move the other way when it comes to short bitcoin. Inflows have now turned to outflows.  Bitcoin Investors Begin Profit-Taking The CoinShares Digital Asset Fund Flows weekly report shows that investors have turned towards outflows for short bitcoin. For the past 7 weeks, short bitcoin had been enjoying consecutive inflows as the price of the digital asset had nosedived. Now, it seems that these investors have begun to enjoy the spoils as they begin taking money out. Related Reading: Staked ETH Nears 14 Million As Ethereum Readies For Breakout For the first time in more than two months, short bitcoin outflows came out to a total of $5.1 million. Interestingly, the total asset under management (AuM) for the short BTC remains high at $172 million, a new record high for the digital asset. So even though investors have been pulling out money, it only shows that there is profit-taking going on and not necessarily a shift in sentiment toward the investment vehicle. BTC recovers above $20,000 | Source: BTCUSD on TradingView.com On the flip side, long bitcoin only saw minor inflows. This is also in line with the increased interest in short BTC. With inflows totaling $0.1 million for the 7-day period, it goes to show that institutional investors are still very bearish when it comes to the digital assets. Bitcoin’s total AuM has now dropped to a new 3-month low of $15.9 billion. Inflows In Other Areas When it comes to outflows, most of it seemed to be localized to the short bitcoin alone. Other digital assets, such as Ethereum, saw inflows for the week. The digital asset, which is the second-largest cryptocurrency by market cap, had been seeing a lot of interest due to the completed Merge, which brought in inflows of $7.7 million for the week. However, all sentiment was not bullish, given that the recently launched Short Ethereum investment product had recorded $1.1 million in inflows. Related Reading: Why Investing In Terra Classic (LUNC) May Be A Bad Idea Some altcoins also saw minor inflows during this period. Assets such as Cosmos and XRP got some attention from institutional investors, with inflows reaching $0.4 million and $0.5 million, respectively, during the one-week period. Additionally, multi-asset investment products saw inflows reaching $1.8 million for the same time period.  The majority of the inflows had come from Europe, totaling $15 million for this time period. While across the pond, North America showed more bearish sentiment. The outflows were localized to this region, reaching $9.4 million. Featured image from ZenLedger, charts from TradingView.com Follow Best Owie on Twitter for market insights, updates, and the occasional funny tweet…

Revolut had been the last “holdout” out of the 12 companies originally granted FCA temporary registration to continue offering crypto services in March.

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