5 peer-to-peer (P2P) lending platforms for borrowers and lenders
Discover five platforms — Aave, Compound, MakerDAO, dYdX and Fulcrum — that are transforming lending and borrowing through decentralization.
Čítaj viac
Značka: investors
Elon Musk requests dismissal of $258B Dogecoin lawsuit: Report
Investors pointed to Musk’s portrayal of “a fictitious financial expert” during a Saturday Night Live appearance, referring to Dogecoin as “a hustle,” as a reference point in the lawsuit.
Čítaj viac
Binance CEO urges crypto buyers to 'hold' amid 'unpredictableness'
Binance CEO Changpeng “CZ” Zhao has strongly advised cash-strapped and inexperienced investors to stay away from trading cryptocurrencies amid extreme market volatility and unpredictability. On a Nov. 14 Zhao-led “Ask Me Anything” Twitter space hosted by Binance the CEO suggested that unsophisticated investors wait out the turbulent period instead of risking money needed for living expenses:“You should not invest in crypto if you’re using money that you need for next week or next month, you should only be using discretionary cash that you don’t need for a long time, like maybe a couple of years.”For those who do have that spare cash, Zhao advised inexperienced investors and traders to think twice before deploying capital into the market in the near future:“If you don’t know what’s going on, don’t try to guess what’s going to happen. It’s very hard to predict. So we will go through a period of high volatility and unpredictableness.”“So unless you’re very experienced, very mature, very confident, and can handle the risk, I would recommend most people just hold for this period of time,” he added. The spike in market volatility comes as the FTX crisis has had a negative effect on the whole industry — particularly a number of centralized exchanges that have had to temporarily halt withdrawals.But Zhao confirmed that no such issues exist at Binance. When asked why users should maintain trust in the exchange, he pointed to the company’s balance sheet:“We don’t have loans. We don’t have debt. We don’t owe anybody any money. We also did not give loans out of the platform. So we never take user assets and give it to a third party to manage and try to make yields.”Zhao confirmed Binance experienced withdrawals following the FTX collapse and several other events that led to a fall in community trust for centralized exchanges. He iterated that even in the event that Binance collapsed the platform still wouldn’t block its users from withdrawing their funds. “If everybody withdraws their funds from the centralized exchange, we’ll just shut down the centralized exchange. We have many other profitable businesses that we have,” he said.Related: Exchange outflows hit historic highs as Bitcoin investors self-custodyZhao thinks such an event is entirely possible too, stating that once decentralized finance (DeFi) applications become mainstream centralized exchanges may no longer be necessary:“If we can have a way to allow people to hold their own assets in their own custody securely and easily, that 99% of the general population can do it, centralized exchanges will not exist or probably don’t need to exist, which is great.”While the Binance exchange itself is centralized, Zhao emphasized that the company’s investment partners include both centralized exchanges and decentralized protocols to provide users with choices and support entrepreneurs to build.“We’re technology agnostic. We’re not trying to centralize everything. We’re not trying to bring everybody onto the centralized exchange. If you’re good enough to use a decentralized exchange, go for it.”
Čítaj viac
Investors are loving SEC's crypto industry crackdown, according to survey
The United States Securities and Exchange Commission’s (SEC’s) more-than-enthusiastic crackdown on the crypto industry is being seen as a positive signal for the majority of crypto investors, according to a new survey. Around 60% of 564 survey respondents in the latest MLIV Pulse survey from Bloomberg said they viewed the recent flurry of crypto crackdowns as a positive sign for investing in the asset class. Around 65% of retail investors signaled they were “more likely” to invest with “greater enforcement against crypto” compared to 56% of professional investors. Conversely, only 35% of retail and 44% of professional investors said they would be “less likely” to invest as a result of more enforcement action. The U.S. SEC has stepped up its actions over the past months, with high-profile investigations of bankrupt crypto companies Celsius Network, and Three Arrows Capital along with a reported probe into Yuga Labs and the wider nonfungible token (NFT) space.It also famously fined reality television star Kim Kardashian to the tune of $1.26 million for promoting the EthereumMAX cryptocurrency without proper disclosures. The investor sentiment appears to run in contrast to many U.S. lawmakers and crypto industry participants, who have repeatedly criticized the SEC for taking what they call a “regulation by enforcement” approach to cryptocurrencies.Gurbir Grewal, the SEC’s enforcement director said in September it will investigate crypto firms regardless of the narrative that it’s “stifling innovation.”Related: The SEC should be aiming at Do Kwon, but it’s getting distracted by Kim KardashianThe SEC has also boosted its ability to handle specialized issuer filings by adding an Office of Crypto Assets in September purely focused on dealing with crypto asset applications and services.Despite the interest gained from investors by the crypto crackdowns, the market conditions have seen many major cryptocurrencies sit within a tight price band for months and around 43% of survey respondents said they would increase their crypto exposure over the next 12 months.
Čítaj viac
Downfall of Canada's Lambo driving ‘Crypto King’ reportedly sees $35M in losses
A self-styled 23-year-old ‘Crypto King’ is facing a raft of demands among 140 of his investors as they try to claw back a collective total of $35 million from his company AP Private Equity Limited.According to a Sept. 20 CBC report, creditors are hard at work trying to unravel where all the money they allegedly gave Canadian Aiden Pleterski to make crypto and foreign exchange investments on their behalf ended up.A bankruptcy trustee’s report, creditors meeting minutes, court filings, and complaints made to Investigation Counsel PC reveal Pleterski owned 11 vehicles, leased four other luxury cars, regularly flew on private jets, and was living in a lakefront mansion costing $45,000 a month to rent.So far roughly $2 million worth of assets have been seized, among them two McLarens, two BMWs and a Lamborghini.Norman Groot, the founder of Investigation Counsel PC, a fraud recovery law firm claimed the “large lifestyle burn rate” still doesn’t “account for the amount of money that’s missing.”An initial lawsuit brought against Pleterski resulted in his assets and bank accounts being frozen, but that has now been superseded by bankruptcy proceedings. At this stage, it is the only recovery process for investors because bankruptcy proceedings take precedence over civil claims.Groot said that “the only other avenue available for investors would be to make reports to the Ontario Securities Commission and the police.” “Those processes are lengthy” he said adding, “The more time that goes by, the less likely there’s a recovery of evidence and less likely there’s a recovery of money.”Groot said the warning signs for investors of excessively high returns were there for all to see.”Five per cent interest [a week] is not available on the open market. A 23-year-old kid is unlikely to be the next Bill Gates talk to somebody who is conservative and get a second opinion.”Creditor Diane Moore invested $60,000 and said her investment contract gave her the lion’s share of a 70-30 split on any capital gains which were targeted at 10 to 20 per cent biweekly.“The whole thing was based on trust,” she said, claiming to be out of pocket $50,000.Pleterski’s lawyer Micheal Simaan has disputed the allegations and said his client has been cooperating fully with the bankruptcy process.According to Simaan his client started investing in crypto as a teen. His success during the bull markets prompted others to offer cash freely for investments in the hopes of striking it rich. Related: Bitcoin’s in a bear market, but there are plenty of good reasons to keep investing”Shockingly, it seems that nobody bothered to consider what would happen if the cryptocurrency market plummeted or whether Aiden, as a very young man, was qualified to handle these types of investments.”Pleterski claimed his investment company ran into trouble thanks to “a series of margin calls and bad trades,” possibly exacerbated by the market crash and ongoing crypto winter. He said tha all the money fronted by investors in late 2021 and early 2022 is gone. The trustee noted that they still needed to receive supporting evidence of the trades after requesting proof of transactions and bank statements.
Čítaj viac
One-third of estimated 115M Indian crypto users concerned about regulations
India is now home to an estimated 115 million cryptocurrency investors despite a historically negative attitude towards the sector from the government, according to new data.The latest gauge on the number of users in India comes from cryptocurrency exchange KuCoin, which released the findings of its ‘Into The Cryptoverse India Report’ survey on Aug. 23. The estimated 115 million crypto users represent around 15% of the Indian population aged between 18 and 60.A key highlight was the 33% of survey takers concerned by ambiguous government regulations that could deter potential investors. Security concerns were also evident, with 26% worried about hacks and exploits while 23% were concerned about losing funds in the event of a security incident.The report is based on a sample of 2042 Indian adults aged between 18 and 60 who were polled between October 2021 and June 2022. 1541 respondents identified themselves as cryptocurrency investors who either own crypto or have traded over the past six months and intend to continue doing so.Barriers to continued adoption and onboarding of new users are wide-ranging with education, regulatory and security considerations chief concerns for citizens in the country. 41% of respondents admitted not being sure what type of cryptocurrencies to invest in, while 37% found it difficult to manage the risk of portfolios. A further 21% of respondents had little knowledge of how cryptocurrencies work.Related: India needs global collaboration to decide on crypto’s future, says finance ministerA growing section of India’s cryptocurrency users is younger than 30, with 39% of investors aged between 18 and 30 identified in the first quarter of 2022. Investing for the future also emerged as a prominent theme, with 54% of respondents seeing the potential for cryptocurrencies to provide a higher return on investment than conventional assets.Cointelegraph reached out to KuCoin CEO Jonny Lyu to unpack the findings of their India report, who admitted that the number of crypto users in the country was a ‘confirmation of expectations.’ Given that India is the most populous country in the world with a rapidly developing middle class that is tech savvy, Lyu expected to see a proportionally strong layer of investors engaged in cryptocurrencies:“Despite the government’s stance affecting local crypto market sentiment, people still continue exhibiting interest in new means of value accumulation and accrual.”Lyu also noted that regulatory concerns were not the be-all and end-all of the future adoption of cryptocurrencies in the country, suggesting that it was just one factor affecting the rate of new users in the space.The KuCoin CEO also suggested that India’s vast population merely needs to be informed about the potential use cases of cryptocurrencies and their underlying technology in order for mass adoption to take place:“The problem is the lack of overall awareness about the potential of cryptocurrencies. The situation may change as more Indians become aware of cryptocurrencies and sufficiently strong projects are introduced that can inject them into mass usage with accompanying informational support.”KuCoin’s India report paints a positive picture of the growth of cryptocurrency adoption in India, but the apparent disparity of its government’s stance towards the sector continues to be a hindrance. A 30% tax on unrealized crypto gains was instituted in April 2022, which met widespread criticism, while users are also subjected to a 1% tax per transaction.The effect of this new law was felt with data from exchanges in India showing a massive slump in transaction volumes in the wake of the tax laws enforced on cryptocurrency trading.
Čítaj viac
Big jump in investors who favor crypto over stocks: Survey
New research by consumer data aggregator CivicScience has found that a growing number of investors are selling their shares to purchase more crypto. The research questions were sent to people over 18 years old in the U.S. at varying times during 2021. The results were weighted by U.S. census data. Each question had between 1000 and 40,600 respondents. Out of 3,700 respondents surveyed, the number who said they would be more likely to invest their money in cryptocurrency than traditional stocks increased 140% in just five months. Back in June, only 10% of respondents said they would be more likely to invest their money in cryptocurrency than traditional stocks, which rose to 24% in November.Interesting those who said they follow the financial market and economy “very closely” or “somewhat closely” were more likely to swap their traditional assets for crypto. Out of the 1285 respondents who said they follow the market “very closely,” 40% said that they or someone they know has sold their traditional stocks to purchase crypto. This percentage dropped to 30% for those who follow the market “somewhat closely,” and around 17% for those who said they followed the market “not closely at all.”Around 44% of the 1,988 respondents who had sold stocks for crypto said they’d sold less than 10% of their portfolios. But around one-fifth had sold over half of their stock assets to buy crypto which Zack Butovich from CivicScience described as a “shockingly significant number.” That might be pushing it, but it’s certainly notable.Related: True or false: 91% of surveys about Bitcoin and crypto are totally wrongAccording to its website, CivicScience sources its data through digital and mobile content partnerships. Cointelegraph contacted CivicScience for more detail on its methodology and is awaiting a response. CivicScience also found that those not interested in blockchain tech has continued to decline, from 80% in May of this year, to 68% currently based on 40,571 responses from May 1 to Dec. 6.
Čítaj viac
Získaj BONUS 8 € v Bitcoinoch
Registrácia Binance
