Coinbase Reveals European Expansion Plan — Seeks Licenses in Spain, Italy, France, Netherlands

Coinbase Reveals European Expansion Plan — Seeks Licenses in Spain, Italy, France, Netherlands

Cryptocurrency exchange Coinbase has revealed its plan to expand in several European markets. The company is reportedly in the process of registering a crypto exchange in Spain, France, Italy, and the Netherlands.

Coinbase Expanding in Europe


Coinbase Global Inc. (Nasdaq: COIN) is reportedly planning to expand operations in Europe, Bloomberg reported Wednesday, citing an interview with Nana Murugesan, Coinbase’s vice president of International and Business Development.

Noting that Coinbase is focused on growing its presence in Europe, the executive revealed that the exchange is in the process of applying for a license in various European markets including Italy, Spain, France, and the Netherlands.

The Nasdaq-listed company is currently registered in the U.K., Ireland, and Germany, Murugesan confirmed, noting that Coinbase also recently hired its first employee in Switzerland.

“In all these markets our intention is to have retail and institutional products,” the executive emphasized, elaborating:

It’s almost like an existential priority for us to make sure that we are able to realize our mission by accelerating our expansion efforts.


Coinbase is also open to acquisitions that will accelerate its overseas expansion, Murugesan noted.

The crypto exchange is downsizing, however. Earlier this month, CEO Brian Armstrong announced his company’s plan to lay off 1,100 employees, or 18% of its workforce.



Murugesan said Coinbase’s goal is for the international segment to become a “significant” part of its business. He opined:

This is what our goal would be, but exactly when do we get there, all of that, there’s a lot of dependencies.


On Monday, global investment bank Goldman Sachs downgraded Coinbase to a “sell” rating. COIN has fallen more than 85% since it began trading on Nasdaq. At the time of writing, Coinbase Global is trading at $49.75, down more than 36% over the past month.

What do you think about Coinbase expanding in Europe? Let us know in the comments section below.


Source: Bitcoin.com
Original Post: Coinbase Reveals European Expansion Plan — Seeks Licenses in Spain, Italy, France, Netherlands

First Mover Asia: Speculating on Tokenized Carbon Offsets Won't Help Climate Crisis, Says Consultant; BTC Falls Under $19K Amid Wider Crypto Woes

Source: Coindesk
Original Post: First Mover Asia: Speculating on Tokenized Carbon Offsets Won't Help Climate Crisis, Says Consultant; BTC Falls Under K Amid Wider Crypto Woes

How Foresight Ventures Is Approaching Investments in the Current Market Environment

The Foresight Ventures founding and partnership team includes veterans of some of the top financial and technology firms dedicated to sourcing and supporting the next generation of disruptive innovations across Web3. They believe the future is multi-chain and thus the chains that find product market fit will all need partners to help expand their ecosystems. They hope to become that partner, investing early and supporting their ecosystems by holding and providing resources for growth.

Tony Cheng, general partner from Foresight Ventures, recently joined the Bitcoin.com News Podcast to talk about the market:




Tony graduated from Nankai University with a BSc in Applied Mathematics, then went on to the University of Oxford for post-graduate studies resulting in a MSc in Financial Economics. After graduation Tony worked as a management consultant at Oliver Wyman in HK, mainly covering financial services and Fintech clients in the APAC region. After doing many consulting projects for Fintech companies, Tony left management consulting and moved into venture capital at Sequoia Capital China, mainly covering global fintech and enterprise services. Tony participated in many leading Fintech deals including Toss, Opay, CPIC, Sumscope and many others.



In 2021, Tony joined 3G Capital to lead their APAC TMT Growth investing efforts with a focus on China. In 2022, Tony transitioned to an advisor role for 3G Capital given the difficulty of regulatory environment in China. He then joined Foresight Ventures as a general partner, helping to cover emerging Web3/crypto related deals and lead fundraising for Bitget Exchange and Bitkeep Wallet. Tony is interested in crypto infrastructure, scaling solutions and applications that bridge CeFi and DeFi and felt that joining an exchange/wallet ecosystem would be one where he could provide most value to portfolio companies.

To learn more follow the Foresight Ventures team on Twitter and Discord.




The Bitcoin.com News podcast features interviews with the most interesting leaders, founders and investors in the world of Cryptocurrency, Decentralized Finance (DeFi), NFTs and the Metaverse. Follow us on iTunes, Spotify and Google Play.




This is a sponsored podcast. Learn how to reach our audience here. Read disclaimer below.

 


Source: Bitcoin.com
Original Post: How Foresight Ventures Is Approaching Investments in the Current Market Environment

Crypto Lender Celsius Network Exploring Options to ‘Preserve and Protect’ Assets

Celsius Network is consulting with experts to try to reduce the fallout from its mid-June swoon.
Source: Coindesk
Original Post: Crypto Lender Celsius Network Exploring Options to ‘Preserve and Protect’ Assets

Coinbase Announces Support for Little-Known Ethereum Scaling Altcoin and Mid-Cap Stablecoin Project

A layer-2 scaling solution is joining top US crypto exchange Coinbase’s roster of digital assets alongside an exchange stablecoin.

Coinbase says Boba Network (BOBA) and Gemini USD (GUSD) will start trading paired with Tether (USDT) once appropriate liquidity conditions are met.

Boba Network utilizes optimistic rollups, a less stringent and data-heavy method of transaction verification than traditional zero-knowledge rollups. Native token BOBA can be used for governance and staking.

The project was developed to empower decentralized applications (DApps) developers building on Ethereum (ETH).

Boba Network has experienced a roller coaster of price action this week, surging 35.2% from a Tuesday low of $0.34 to as high as $0.46 when news of the Coinbase listing first broke.

BOBA has since corrected and is currently down 17.6% on the day and trading for $0.36 at time of writing.

Also joining Coinbase is Gemini USD, a stablecoin created by the Gemini cryptocurrency exchange which aims to peg its value to the US dollar.

According to the project website, not only can users trade their dollars 1-to-1 for GUSD, but the altcoin can also be used to swap for other crypto assets on decentralized exchanges (DEXs).

Currently, Gemini Dollar is valued slightly less than a dollar at $0.98.

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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The post Coinbase Announces Support for Little-Known Ethereum Scaling Altcoin and Mid-Cap Stablecoin Project appeared first on The Daily Hodl.


Source: Daily HODL
Original Post: Coinbase Announces Support for Little-Known Ethereum Scaling Altcoin and Mid-Cap Stablecoin Project

Top Crypto Trader Warns Bitcoin (BTC) Could Crash Much Lower Than $20,000 – Here’s Why

A crypto trader warns Bitcoin (BTC) could hit lower lows as a stock index tracking the performance of the 500 largest US public companies worsens.

Crypto analyst Justin Bennett tells his 10,400 YouTube subscribers that Bitcoin could continue sliding downwards if the S&P 500 officially turns bearish.

“If we see a bear market, a true bear market for the S&P 500 and we enter a recession which I personally think that we’re already in a recession, then we could very well see the S&P 500 drop 30%, 40%, if not 50%.

And look, if BTC is hovering around $20,000 while the S&P 500 is off its all-time high by just 19%, then what happens if the S&P 500 is off by 30% or 40% or 50%?

We’re going to see Bitcoin a lot lower than $20,000. I can pretty much guarantee you that now.”

Bitcoin is trading at $20,016 at the time of writing, down a little over 1% on the day.

According to Bennett, the S&P 500 index, which has demonstrated a strong correlation with Bitcoin since the market downturn started, has yet to enter bear market territory.

Bitcoin and the S&P 500 have been tracking each other ever since this sell-off started. And right now BTC is off its all-time high by quite a bit but the S&P 500 is only off its all-time high by 19%. Twenty percent is the start of a bear market, so 19% is nothing.”

Despite Bitcoin falling below $18,000 before quickly recovering, the crypto analyst does not believe the bottom has been reached.

“First and foremost, we obviously have this ascending channel that formed here off of the recent low, down here around $17,600.

Now I know a lot of people think that this is the macro bottom for BTC. I tend to disagree with that and I think a lot of people think this is the bottom because for a long time everybody was thinking that if we did see a bear market we’d see Bitcoin around $20,000 and then we would see a bounce.”

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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The post Top Crypto Trader Warns Bitcoin (BTC) Could Crash Much Lower Than $20,000 – Here’s Why appeared first on The Daily Hodl.


Source: Daily HODL
Original Post: Top Crypto Trader Warns Bitcoin (BTC) Could Crash Much Lower Than ,000 – Here’s Why

Vitalik's Mom Offers Advice on How to Make It in Crypto

Source: Coindesk
Original Post: Vitalik's Mom Offers Advice on How to Make It in Crypto

Onecoin’s Co-Founder Ruja Ignatova Has Been Added to the FBI’s 10 Most Wanted Fugitives List

One of the Onecoin co-founders, Ruja Ignatova, otherwise known as the ‘Cryptoqueen,’ has been added to the Federal Bureau of Investigation’s (FBI) Ten Most Wanted Fugitives list on Thursday. In addition to adding the Cryptoqueen to the most wanted list, the FBI is offering a reward of up to $100K for tips that lead to the 42-year-old woman’s arrest.

Onecoin’s Cryptoqueen Is Now on the FBI’s Top 10 Most Wanted List


Ruja Ignatova is well known for her involvement with the Onecoin Ponzi scheme, and it is estimated that the scam allegedly defrauded people out of $4 billion. The pyramid scheme promoted Onecoin as a blockchain project with a native cryptocurrency but there was no blockchain and no real crypto asset behind the scam.

However, Onecoin’s management, recruits, and Ignatova promoted the project as if it was a “bitcoin killer.” From late 2014 to March 2016, Ignatova pitched Onecoin sales and recruited members on a regular basis. During the end of the scheme’s functional state, the company issued a notice that said operations would pause for two weeks. By January 2017, the Onecoin exchange xcoinx shut down indefinitely and Ignatova disappeared.

Last November, findings that stemmed from a trial against Martin Breidenbach, Ignatova’s German attorney, had shown that the Cryptoqueen allegedly lived a lavish lifestyle and purchased an $18.2 million London penthouse before she fled. In mid-May 2022, the European Union Agency for Law Enforcement Cooperation, Europol, added Ignatova to Europe’s Most Wanted Fugitives list.

FBI Special Agent: ‘We Want to Bring Her to Justice’


The following month, on June 30, 2022, the FBI added the Cryptoqueen to the U.S.-based Ten Most Wanted Fugitives list. The list introduced in March 1950 was created to promote the capture of America’s criminal masterminds. Over the last 72 years, Ignatova joins the list as the 11th woman to be selected by the FBI.

“Onecoin claimed to have a private blockchain,” FBI special agent Ronald Shimko explained in a statement on Thursday. “This is in contrast to other virtual currencies, which have a decentralized and public blockchain. In this case, investors were just asked to trust Onecoin.” Shimko added that he hopes Ignatova’s name on the list will bring more attention to the case in order to bolster the Cryptoqueen’s arrest. In the FBI press statement, Shimko concluded:

There are so many victims all over the world who were financially devastated by this. We want to bring her to justice.


Investigators say before the Cryptoqueen fled, she had black hair and brown eyes, but the FBI believes “she could have altered her physical appearance.” The domestic intelligence and security service says Ignatova speaks fluent Bulgarian, German, and English.

“She may be traveling on a fraudulent passport and has known connections to Bulgaria, Germany, Russia, Greece, and the United Arab Emirates,” the FBI’s press release further details. The FBI is asking tipsters to reach out to any local FBI office or the nearest American Embassy to provide information about the Cryptoqueen’s whereabouts.

What do you think about the FBI adding Ruja Ignatova to the Ten Most Wanted Fugitives list list? Let us know what you think about this subject in the comments section below.


Source: Bitcoin.com
Original Post: Onecoin’s Co-Founder Ruja Ignatova Has Been Added to the FBI’s 10 Most Wanted Fugitives List

NFTs to appear on Facebook, cross-post with Instagram as Meta Web3 expansion continues

Nonfungible tokens will be found under a tab on creators’ Facebook timelines in a gradual rollout starting in the United States.


Source: Cointelegraph.com
Original Post: NFTs to appear on Facebook, cross-post with Instagram as Meta Web3 expansion continues

Do Rate Hikes Matter? Bitcoin Traders Learn How Fed Moves Markets in Twitter Era

Source: Coindesk
Original Post: Do Rate Hikes Matter? Bitcoin Traders Learn How Fed Moves Markets in Twitter Era

Former Monero maintainer Spagni to surrender for South Africa extradition

Court filings hint at authorities allowing Spagni to be in the United States for the Independence Day holiday weekend before being taken to South Africa early on Tuesday.


Source: Cointelegraph.com
Original Post: Former Monero maintainer Spagni to surrender for South Africa extradition

US lawmakers say crypto industry has a ‘tech bro’ problem hurting innovation

Venture capitalists tend to invest in companies with predominantly white male leadership, while women and people of color “remain in the waiting room,” according to Stephen Lynch.


Source: Cointelegraph.com
Original Post: US lawmakers say crypto industry has a ‘tech bro’ problem hurting innovation

Analysts identify 3 critical flaws that brought DeFi down

Poor risk management, insufficient revenue and the overuse of leverage are the core reasons why DeFi is crumbling.


Source: Cointelegraph.com
Original Post: Analysts identify 3 critical flaws that brought DeFi down

New York Environmental Regulators Deny Greenidge’s Power Plant Permit

The New York State Department of Environmental Conservation (NYSDEC) has denied bitcoin mining operation Greenidge Generation’s application to renew an air permit required to continue operating in New York.
Source: Coindesk
Original Post: New York Environmental Regulators Deny Greenidge’s Power Plant Permit

Market Wrap: Bitcoin Heads for Record Half-Year Loss of 59%

BTC slips below $19K in fifth straight daily price decline. Stocks headed for their worst first half since the 1970s as a consumer-spending slowdown stokes fresh recession concerns.
Source: Coindesk
Original Post: Market Wrap: Bitcoin Heads for Record Half-Year Loss of 59%

El exchange FTX está cerca de comprar BlockFi por solo $25 millones

La plataforma de préstamos cripto valía $1.000 millones a principios de mes, según fue reportado.
Source: Coindesk
Original Post: El exchange FTX está cerca de comprar BlockFi por solo millones

Coinbase providing customer geolocation data to ICE: Report

The U.S. government agency is reportedly using Coinbase Tracer to access customers' historical geo-tracking data and transactions on over a dozen cryptocurrencies.


Source: Cointelegraph.com
Original Post: Coinbase providing customer geolocation data to ICE: Report

Banking Giant JPMorgan Says Bitcoin and Crypto Meltdown May Be Short-Lived – Here’s Why

Financial services giant JPMorgan says the latest Bitcoin (BTC) and crypto market meltdown may be fleeting.

According to a new BNN Bloomberg report, JPMorgan analysts say the crypto market’s current deleveraging trend may not last much longer.

The analysts also suggest that crypto firms going under shouldn’t be a surprise given the falling prices of digital assets.

The strategists say the latest crisis at Three Arrows Capital, which saw regulators from the British Virgin Islands recently mandate its liquidation, was “a manifestation of this deleveraging process.”

Though many crypto assets such as Terra and Celsius have recently collapsed in the past few months, the JPMorgan strategists say crypto entities and venture capitalists are stepping in to “contain the contagion,” which should shorten the crypto bear market.

JPMorgan cites crypto exchange platform FTX as an example with the firm recently granting credit lines to embattled crypto projects as well as considering acquiring them outright.

According to FTX CEO Sam Bankman-Fried, the main driver of the crypto market crash has been the Federal Reserve’s policies.

In a new interview with NPR, Bankman-Fried says the Federal Reserve aggressively raising interest rates to combat inflation is the reason for the downfall of the crypto industry.

“The core driver of this has been the Fed… literally markets are scared. People with money are scared.”

Bankman-Fried then says he feels he has a responsibility to stop the bleeding.

“I do feel like we have a responsibility to seriously consider stepping in, even if it is at a loss to ourselves, to stem contagion. Even if we weren’t the ones who caused it, or weren’t involved in it. I think that’s what’s healthy for the ecosystem, and I want to do what can help it grow and thrive.”

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Featured Image: Sensvector/klyaksun

The post Banking Giant JPMorgan Says Bitcoin and Crypto Meltdown May Be Short-Lived – Here’s Why appeared first on The Daily Hodl.


Source: Daily HODL
Original Post: Banking Giant JPMorgan Says Bitcoin and Crypto Meltdown May Be Short-Lived – Here’s Why

On-Chain Indicator at 10-Year Lows Could Trigger Bitcoin (BTC) Reversal: InvestAnswers

A popular crypto analyst is highlighting a key metric while assessing the future for Bitcoin (BTC) amid faltering markets.

The anonymous host of InvestAnswers tells his 442,000 YouTube subscribers about the significance of Bitcoin’s dormancy flow, which measures the average number of days that coins have remained untouched.

“This dormancy flow is kind of interesting for a few reasons. First of all, the asset Bitcoin is obviously trading below its fair value as HODLers, including long-term ones, are kind of liquidating.

This is generally the case when the oldest coins are being spent. It’s like the whole dormancy thing, it’s when the HODLers stop spending and reverse buying behavior, that is the key reversal to watch for.”

Source: InvestAnswers/YouTube

The analyst next points out how Bitcoin dormancy has fallen to a 10-year low, adding that historical data suggests that such lows precede price moves to the upside.

“If you look at this chart, I added a little gray thing saying a ‘decade low.’ It actually technically is an all-time low because the data from pre-2010 was kind of not really analyzable enough because there wasn’t enough of it.

But this decade-low dormancy flow is interesting. We have to wait and watch for that to peak up. Every time in history it spikes down, it tends to reverse course very quickly.

We’re going to keep an eagle eye on this little orange wick down and when that turns, that means we could be done selling so and pivot back up.”

At time of writing, Bitcoin is down less than a percent over the last 24 hours, priced at $20,321.

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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The post On-Chain Indicator at 10-Year Lows Could Trigger Bitcoin (BTC) Reversal: InvestAnswers appeared first on The Daily Hodl.


Source: Daily HODL
Original Post: On-Chain Indicator at 10-Year Lows Could Trigger Bitcoin (BTC) Reversal: InvestAnswers

CoinFLEX Withdrawals Remain Halted as Recovery Token Talks Continue

CoinFLEX initially planned to resume withdrawals today.
Source: Coindesk
Original Post: CoinFLEX Withdrawals Remain Halted as Recovery Token Talks Continue