LATEST ARTICLES

Asian shares slide after Wall Street frets over rate hike consequences

0
Published by
Reuters UK

By Alun John HONG KONG (Reuters) – Asian shares tumbled on Friday while the U.S. dollar and Treasury yields rose in a reversal of a day earlier after investors expressed concerns that rising interest rates could hurt global economic growth. The market fears that the U.S. Federal Reserve and some other major central banks will have to raise interest rates even more aggressively than planned to combat red-hot inflation, potentially pushing economies into a recession. U.S. payroll data due later on Friday will help the market gauge how hot the economy is running. MSCI’s broadest index of Asia-Pac…

Apecoin rallies after Elon Musk changed his Twitter profile picture to Bored Ape

ApeCoin (APE) has gained bullish momentum after Elon Musk, Tesla CEO and SpaceX owner, changed his Twitter profile picture to a collection of several Bored Ape Non-Fungible Tokens (NFTs). The centerpiece of the collage featured a rare BAYC piece with golden fur.

At the time of writing, APE was trading at $15.81, up 3.25% after hitting a daily high of $17.55, the move by Musk has helped the coin to break the downtrend that it has been experiencing. Besides, the sales of the Bored Ape Yacht Club (BAYC) NFT collection also increased after the move.

Musk commented on the picture saying ‘’ it seems Kinda fungible’’

April has been one of the best months for APE with traders anticipating the launch of Yuga Labs, Bored Ape Creator, and a new metaverse called Otherside although the token price went on with the dip despite Yuga Labs’ effort to maintain the token rally.

The CEO’s new profile picture critics

Musk’s move is already attracting controversy with the head of digital art at auction house Sothebys, Michael Bouhanna, saying that Musk used the picture without their permission and demanded credit for it or delete the firm.

Elon Musk might Influence NFT Purchase via MoonPay

There were rumors that Musk owned BAYC but according to OpenSea, the leading marketplace, BAYC was owned by MoonPay, besides, there was a photo that showed Musk with the MoonPay team where he had met with the company representatives a few days before the BAYC sale.

If Musk confirms the news of influencing NFT acquisition through MoonPay, then he will join the list of the BAYC holders that are purchasing their NFTs using MoonPay.

MoonPay has been one of the growing and preferred channels for blockchain and crypto-powered digital collectible purchases over the past months with celebrities like Post Malone and Jimmy Fallon using MoonPay services for crypto and NFT transactions. Besides, MoonPay launched a ‘Concierge service’ that will allow prominent people to purchase Crypto and NFTs by referrals.

The post Apecoin rallies after Elon Musk changed his Twitter profile picture to Bored Ape appeared first on Coin Journal.

Argentina’s largest private bank launches ability to buy Bitcoin and Ethereum

Buenos Aires bank Banco Galicia, founded in 1905, allows its clients to trade Bitcoin (BTC), Ethereum (ETH), XRP and USD Coin (USDC). To make this possible, it has partnered with Lirium AG, a company that provides plug & play crypto solutions for banking institutions, to enable the new service.

Argentina is one of the top countries in terms of cryptocurrency adoption due to high inflation. According to data from Deel, it has more employees who are paid in digital assets than any other country in the world. The number of companies allowing their employees to receive payments in crypto has increased by more than 340% in just one year, with small businesses being the main driver behind the growing adoption.

Banco Galicia is, as mentioned, the largest private bank in the country. It serves more than four million private and corporate customers. It also has approximately 600 branches around the world.

The bank allows its users to buy and sell crypto, but does not allow them to withdraw or transfer crypto, Lirium COO Martin Kopacz told CoinDesk, adding that the bank also offers a depository function. It also became clear that Banco Galicia plans to roll out the service to all its customers in mid-May, Kopacz noted.

Lirium is also partnering with four other Argentine financial institutions that are planning to launch a crypto trading service, Kopacz said, without disclosing exact information. In addition, according to Kopacz, Lirium is working on similar integrations in Brazil and Mexico.

Not the only Argentine bank

Banco Galicia’s decision follows a customer survey that found that 60 percent of respondents expressed a need for the ability to buy crypto on the banking platform.

“That motivated us to accelerate this project. It is mainly the youth who are asking for these features to be added,” said Ariel Sanchez, the bank’s manager of investment products. In addition to Banco Galicia, the digital bank Brubank SAU has also started this service. Slowly but surely, the traditional financial sector is adopting bitcoin and the rest of the industry.

Banco Galicia is not ready yet

A curious user wrote to Banco Galicia on Twitter to ask if the service was already available. Banco Galicia confirmed this via the official account and indicated that more investment options will be added.

However, it is not yet possible for users of Banco Galicia to withdraw bitcoin, ethers or other crypto from the platform. Sending Bitcoin to your own wallet or paying other users is therefore not yet an option. At Banco Galicia, for the time being, it is purely about bitcoin as a means of savings.

Argentina in top 10 countries with the highest adoption rate

According to Chainalysis figures, Argentina is among the top 10 countries with the highest cryptocurrency adoption rate. This is not surprising since Argentina has been plagued by high inflation for years. The country is bumping from currency crisis to currency crisis and has even experienced inflation of more than 50 percent. Two-thirds of Argentinians who invest in crypto say they do so to protect their savings against inflation.

With the traditional banks also jumping on the crypto train, there is a good chance that the adoption rate in Argentina will rise even further. At both banks, it is now possible to purchase crypto on the same platform where users can buy shares and bonds. Initially, Banco Galicia will only make this service available to users who receive their salary via a direct deposit with the bank.

Latin American bitcoin revolution

Lirium is the infrastructure provider that helps Banco Galicia, among others, to set up its crypto services. According to COO Martin Kopacz, his company is working with similar players in countries such as Brazil and Mexico. In addition, it works with four Argentine banks to bring crypto to their customers. So Bitcoin is doing well in Latin America.

In that respect, Bitcoin is moving fast. It is becoming easier to buy bitcoin, and the inflation that is rising all over the world ensures a smooth spread of the bitcoin story. It may currently seem that the bitcoin price is not going well, but you have to bear in mind that in March 2020 we made a nosedive to about 3,000 euros. Seen from that perspective, we have made significant strides in two years.

The post Argentina’s largest private bank launches ability to buy Bitcoin and Ethereum appeared first on Coin Journal.

Is Chainlink a Good Investment? 5 Reasons We Think It Is

Chain Link Image on a cell phone

Chainlink is a major blockchain project that is widely used by most developers of decentralized finance (DeFi) and non-fungible tokens (NFT). It is a relatively different platform than other blockchain networks like Cardano and Ripple. In this article, we will explain the five reasons we believe that Chainlink is a good investment for both short-term and long-term investments.

What is Chainlink?

Before we identify the five reasons why Chainlink is a good investment, let us explain what the network is and how it works. Chainlink is a smart oracle network that helps to provide off-chain data to on-chain ecosystems like those in DeFi and non-fungible tokens (NFT).

For example, a developer who is building a decentralized stock trading platform needs a market feed on publicly-traded stocks. Therefore, instead of dealing with exchanges directly, they partner with Chainlink, which has all this data and tools to incorporate it in their ecosystems.

The same is true for other industries. A good example of these industries is sports betting, which is also being disrupted by blockchain projects. For a decentralized betting platform to work well, it needs to have access to credible data on games. Chainlink can provide these numbers.

In the past few months, Chainlink has been adding more solutions to the ecosystem. For example, it recently launched Keepers, which is an automation platform for smart contracts. It has also introduced proof of reserves, cross-chain communication tools, and VRF platforms.

LINK is the governance token for the Chainlink ecosystem. It is a leading cryptocurrency that has a market capitalization of more than $5.4 billion, making it the 26th biggest cryptocurrency in the world.

Learn more about how to buy Chainlink.

Chainlink has a commanding market share

One reason why Chainlink is a good investment is that it has a commanding market share in the oracle industry. While the number of oracles in the industry is rising, Chainlink is the most popular. It has been embraced by some of the leading players in DeFi like Aave, Uniswap, Anchor Protocol, and Curve Finance.

According to DeFi Llama, Chainlink has a total value secured (TVS) of more than $53 billion, giving it a market dominance of 54%. The second biggest player in the industry is Internal, which has a TVS of over $17 billion, and Maker which has only 2 projects with a TVS of more than $13 billion.

Therefore, the fact that it has a good market share and brand reputation is a positive catalyst for Chainlink.

Large market size

Chainlink is a leading player in an industry that has tremendous potential. For example, the decentralized finance industry has a total value locked (TVL) of more than $200 billion. This is remarkable growth considering that the sector did not exist a few years ago.

While the industry is highly volatile, analysts believe that it represents the future of finance. A future where people will embrace the concept of smart contracts in all areas of their financial well-being such as savings and investments.

Analysts expect that the DeFi industry will be more than 100 times bigger than where it is now. Therefore, if this prediction comes to pass, there is a likelihood that Chainlink will have a role to play in that.

The same is true for other industries that are set to be tokenized. For example, the decentralized betting industry is expected to do so well because of the existing regulations in the industry. If this happens, Chainlink will have a role to play.

There are other industries that are set to benefit from decentralization. For example, Chainlink has a partnership with the Weather Channel, which means that people can use this data to develop their applications.

Chainlink is undervalued

One of the most important things about investing is to always buy an asset that is relatively undervalued. In my view, I believe that Chainlink is one of the most undervalued cryptocurrencies around the world.

At the time of writing, the coin is trading at the lowest level it has been since January 2021. It has also declined by more than 78% from its highest level in 2021. Its market cap has also fallen to just $5 billion.

Therefore, I believe that Chainlink is a highly undervalued cryptocurrency. For one, while its market value stands at $5 billion, it has helped to secure more than $54 billion in assets. This is a sign that there is more room for it to grow.

The reason for the undervaluation is that many people don’t know many details about the platform and what it does.

Correlation with other assets

Another reason why you should invest in Chainlink is that it has a strong correlation with other assets like stocks and cryptocurrencies. A closer look in the blockchain industry shows that most cryptocurrencies have declined sharply in the past few months.

For example, Bitcoin has move from about $68,000 in November 2021 to the current $38,000. Similarly, Ethereum has moved from about $5,000 to $2,800. In total, the market cap of all digital coins has dropped from more than $3 trillion to about $1.b trillion.

Other assets like stocks have also declined. This means that the current weakness of Chainlink is not an isolated case. This means that the coin will bounce back when the others do the same.

Eric Schmidt is a strategic advisor

Finally, Chainlink is a good investment because of the fact that Eric Schmidt, the former CEO and Chairman of Google is a strategic advisor. This is a notable thing because of the wealth of experience he brings to the network and the fact that he has a lot of connections in the right places. As you recall, Schmidt is the person who helped to transform Google into one of the most important companies in the world. In a note, Chainlink’s founder said:

“Eric’s experience and insights around building global software platforms for next-generation innovation will be invaluable as we help developers and institutions usher in a new age of economic fairness and transparency.”

The post Is Chainlink a Good Investment? 5 Reasons We Think It Is appeared first on Coin Journal.

Zelensky launches crowdfunding platform to help win war

0
Published by
Al-Araby

Ukrainian President Volodymyr Zelensky on Thursday launched a global crowdfunding platform to help Kyiv win the war with Russia and rebuild the country’s infrastructure. “In one click, you can donate funds to protect our defenders, to save our civilians and to rebuild Ukraine,” Zelensky said in English in a video on his Twitter page, launching the United24 platform. “Every donation matters for victory”. Nine weeks into Russia’s invasion, Ukrainian cities have suffered vast destruction. “All funds will be transferred to the national bank of Ukraine and allocated to the relevant ministries,” Zel…

Gucci will accept cryptocurrency payments before the end of may

Italian fashion label Gucci has announced that it will accept cryptocurrencies by the end of the month.

111 stores, more than 12 cryptocurrencies

The fashion label will start in five of its stores in the United States. The first Gucci items can be purchased at the pilot locations in New York, Los Angeles, Miami, Atlanta and Las Vegas. The brand then plans to expand to all 111 stores in North America.

It is good news for the crypto market that payment options are increasingly being adopted. Vogue reports that the store will accept more than 12 cryptocurrencies, including bitcoin, bitcoin cash, ethereum, wrapped bitcoin, litecoin, shiba inu, dogecoin and five stablecoins pegged to the US dollar. But how does that work?

Customers who want to pay with crypto in the store will receive an email with a QR code. This allows them to pay via their crypto wallet. Employees will even receive training and education on crypto, NFTs and Web3, according to Vogue, in preparation for the launch.

Gucci in the metaverse

That is also necessary, because Gucci is very busy with these developments. The fashion label launched two NFT collections in 2022, and Gucci has also expanded into Web3 by buying land in the virtual world of The Sandbox. They do not hesitate and step fully into this new world of possibilities.

“Gucci is always looking to embrace new technologies when they can provide an enhanced experience for our customers,” said CEO Marco Bizzarri, in a statement. “Now that we are able to integrate cryptocurrencies into our payment system, it is a natural evolution for the customers who would like to have this option at their disposal.”

So we will be seeing a lot more of this fashion label in the near future. For the time being, nothing is known about possible expansion to Europe, but with the speed with which they adopt these technologies, it should not be long.

The post Gucci will accept cryptocurrency payments before the end of may appeared first on Coin Journal.

For High-Earning Women, Motherhood Can Mean Even More Housework

0
Published by
InsideHook

By Trish Rooney A new study published in the journal Work, Employment and Society has found that even when new mothers out-earn their husbands, they still do more housework. In an interview for The Washington Post, Joanna Syrda, author of the research and professor at the University of Bath School of Management, said that “parenthood seems to have that traditionalizing effect.” Syrda’s hypothesis is that when women become the higher earner, the gendered effect is that they take on more housework and parenting responsibilities to compensate, or “correct,” in order to be in line with traditional…

Forex Scams: Common Tactics And Scam Types

Forex Scams

Finding the perfect trading strategy can be a difficult process. After all, there are many kinds of corporations in the market, and research can be time-consuming even for experienced investors. It is imperative to take some time to research the market and how it operates to avoid some common forex trading scams which can negatively impact investors’ returns, budgets, and overall financial well-being.

How do trading scammers lure their victims, and what can you do to avoid being one of them? This article will explore why people fall victim to these criminals and how to avoid forex scams altogether.

Q1 2022 hedge fund letters, conferences and more

 

Steady Investor Growth

The number of adults in the United States investing in the stock market reached a 10-year high in 2021 at 56%. That is the largest percentage since 2010, which also boasted 56% of the adult population in the States as stock market investors. Stock market engagement dropped to 54% in 2011 and 52% in 2013 and only hit a sustained string of steadily increasing annual percentages in 2017 when the number reached 54%. More people are investing in the stock market each year; in other words, some experts believe the figure is still in slow recovery after the Great Recession but are anticipating further growth.

What does all of this mean? To synthesize the information, the growing percentage of adults investing in the stock market means that more people are wading into the market for the first time every year. Since at least some of those people will be unfamiliar with the risks inherent to the market, this translates to more potential victims of trading scams.

What Are Forex Trading Scams?

Forex trading scams trick people into making fraudulent foreign currency investments. These often take the form of urgent “once in a lifetime” opportunities to benefit from massive growth overnight for a modest buy-in. Once they have received the money from their victims, the scammers often vanish, leaving their targets with nothing.

Before we dive into some of the specific types of scams for which people often fall, we wanted to take a moment to talk about some of the warning signs to keep in mind while trading.

Cold Calls

Are you expecting communication about a potential investment? If not, be wary of any random offers. Scammers can often make these messages seem natural, but that does not mean that they are coming from trustworthy individuals. Pay attention to your online activity and ask yourself if an unexpected offer might be too good to be true.

Claims Of Impossibly High Returns

Online investing is rarely an overnight success story. It takes time to build a portfolio full of the kinds of investments that offer impressive returns. If you receive an offer from someone who promises incredibly high returns, be cautious. Most professional brokers will be honest and reasonable in their claims, so if you run across someone promising you the moon, it might be time to take a break. Always remember to research these claims, too, to see how reasonable they might be.

Common Forex Trading Scams

There are many kinds of forex scams, but some are more prevalent than others. Here are three of the most common scams in the market.

Fake Forex Brokers

One of the most common forex trading scams is the fake forex broker scam. This scam sees criminals pretending to be experienced forex brokers or legitimate investment platforms to trick investors into buying fake forex funds. This is often done using the registration number and name of well-known brokers. Checking the FCA register and using only official contact details listed in the database can help investors avoid this type of scam.

Fake Forex Managed Accounts

Another common type of forex scam is the fake managed account scam. A managed account refers to a fund managed by expert traders on your behalf. This kind of account is a popular option that allows casual investors to trade forex by paying experienced traders to manage it for them. The problem arises when you run into an unscrupulous criminal offering fake managed accounts. This scammer will take your money while pretending to invest it, leaving you with nothing.

Carefully research the financial services and platforms before signing up to avoid this scam. Like the previous point, paying attention to the FCA registration database can help ensure you are using trustworthy contact information for legitimate traders.

Forex Pyramid Schemes

Pyramid schemes seem to be an increasing problem in today’s society, with many different populations falling victim to these dubious “businesses.” Forex is no exception. Forex pyramid schemes are designed to convince investors that they are buying into a low-risk, high-reward forex fund in a bid to convince them to recruit more users (typically family and friends). Once enough people have bought into the pyramid scheme, the scammers disappear with the funds and leave their investors with no returns.

How else can you avoid forex scams? Reading detailed advice from experts can help! Trusted online sources of information such as well-known industry experts committed to offering their readers and clients trustworthy advice about typical and emerging forex fraud schemes can help. Comprehensive guides can help new and experienced investors avoid falling victim to costly scams, too.

Are you interested in forex trading? Do not forget to do some research before you get started! Keep our tips above in mind, and you will be well on your way to making smart investment choices.

Quarter Of Wealthy Investors To Include NFTs In Investment Mix

NFT NFTs

More than a quarter of high-net-worth investors will include NFTs, or non-fungible tokens, into their portfolios this year, a new global survey from one of the world’s largest independent financial advisory, asset management and fintech organizations has revealed.

The findings of the poll carried out by deVere Group come as momentum surrounding the new digital asset class continues to build around the world. The Mercedes-AMG Petronas Formula One team, for example, is launching the first in a series of NFT drops. The team is introducing 11 digital art NFTs featuring Mercedes-AMG Petronas cars, created and designed by the artist Mad Dog Jones. Three of them will be available for auction during the much-anticipated Miami Grand Prix this weekend.




Get Our Activist Investing Case Study!

Get the entire 10-part series on our in-depth study on activist investing in PDF. Save it to your desktop, read it on your tablet, or print it out to read anywhere! Sign up below!

Q1 2022 hedge fund letters, conferences and more

HNW Investors Are Looking To Include NFTs Into Their Investments

The deVere poll shows that of the 450+ HNW clients surveyed, 26% said that they are looking to include NFTs into their investments before the end of 2022.

The respondents are clients who currently reside in North America, the UK, Asia, Africa, the Middle East, East Asia, Australasia and Latin America, and have more than £1m of investable assets.

An NFT is a digital asset that can be an image, audio clip or GIF and whose ownership is recorded on a tamper-proof digital ledger known as a blockchain.

Of the findings, deVere CEO and founder Nigel Green comments: “The buzz about NFTs, this exciting new digital asset class, is gaining pace.

“More and more investors around the world are understanding and valuing the potential of NFTS as major global sports franchises, fashion brands and household name artists and musicians pile into the market.”

He continues: “As the survey reveals, high-net-worth investors want a slice of the action as they appreciate that there’s inherent value in digital representations of physical things people love.

“They also know that NFTs are making business models, especially in the creative, sports and entertainment sectors, more profitable and rewarding.

“But perhaps for the majority of investors, it’s about diversification.

“Proper diversification of a portfolio across asset class, sector, region, and currency is the best way an investor can position themselves to mitigate risks and to seize opportunities when they are presented.

“NFTs have a very low correlation to other assets, such as stocks and bonds, and can, therefore, lower your portfolio’s overall risk and volatility levels.”

In order to give investors access to this emerging digital asset class, earlier this year deVere launched its own NFTs platform, dV Gems.

At the launch, Nigel Green said: “Investors around the world are, understandably, eager to stake their claim in this new ecosystem.

“There’s enormous opportunity for people to be a part of the creation of the digital financial architecture – and to give our clients access to this, we’ve launched dV Gems.

“This platform will help clients and prospective clients spot the winners of the future. We’ll guide you to understand the new market and why we believe NFTs have a massive part to play in the future of financial investing.”

The deVere CEO concludes: “The survey shows that more than half of high-net-worth investors are seeking to include NFTs into their investment mix this year.

“We expect this trend will continue to grow with increasing numbers of investors wanting to own digital assets that are immutable and exchangeable, offer a store of value and potentially a decent source of returns.”


About the Author

deVere Group is one of the world’s largest independent advisors of specialist global financial solutions to international, local mass affluent, and high-net-worth clients. It has a network of more than 70 offices across the world, over 80,000 clients and $12bn under advisement.

Luxury Brand Gucci Accepts Bitcoin, Shiba Inu

0
Published by
The Street

By Rob Lenihan Gucci is accepting payment in more than 10 cryptocurrencies, including bitcoin, ethereum, litecoin and shiba inu. Gucci (PPRUF) is going crypto. The iconic Italian luxury brand will accept cryptocurrency payments in some US stores at the end of May, Vogue Business reported, and plans to extend the pilot to all of its directly operated North America stores this summer. ‘A Growing Demand’Gucci, which did not immediately respond to a request for comment, will accept payments in more than 10 currencies, including bitcoin, bitcoin cash, ethereum, wrapped bitcoin, litecoin, shiba inu …