Tag Archives: Cryptocurrency

Cryptocurrencies Slump as China’s Central Bank says all cryptocurrency-related transactions are illegal

Cryptocurrencies are under severe selling pressure after China’s Central Bank says all cryptocurrency transactions are illegal.

According to an announcement in its website the People’s Bank of China (PBOC) says that all cryptocurrencies, including bitcoin, ethereum and tether, are not fiat currencies and cannot be circulated on the market. China Central Bank also says that overseas Cryptocurrency exchanges must not provide services to mainland investors

On the news Bitcoin is down 4.61% at 42573, Ethereum is down 7.92% at 2890, litecoin is giving up 8.08% at 150.67 while Ripple is 7.66% lower at 0.9240.

The History of Chinese Cryptocurrencies bans

On December 6, 2013, China banned bitcoin and the price of BTC lost almost half of its value from $1200 to $800.

On June 20, 2021, China banned almost 90% of the miners.

Stephen Curry Becomes Global Ambassador and Shareholder of Leading Cryptocurrency Exchange FTX

West Realm Shires Services Inc. and FTX Trading Limited, the companies behind FTX.US and FTX.COM respectively, today announced a long-term partnership with three-time NBA champion, two-time NBA Most Valuable Player, philanthropist and entrepreneur, Stephen Curry. In connection with being an FTX global ambassador, Curry will receive an equity stake in FTX Trading Limited and Curry’s foundation, Eat.Learn.Play., will partner with FTX on charitable initiatives.

“I’m excited to partner with a company that demystifies the crypto space and eliminates the intimidation factor for first-time users,” said Curry.  “FTX is likeminded when it comes to giving back to the community in meaningful ways and I can’t wait to see what we can achieve together.”

Curry, who has spent his entire 12-season professional career with the Golden State Warriors, is the latest high-profile athlete to partner with FTX in 2021, joining NFL stars Tom Brady and Trevor Lawrence. Curry’s equity stake in FTX Trading Limited further advances the company’s position as the fastest growing and most trusted place to buy, sell and trade Bitcoin, cryptocurrency, NFTs and other digital assets. He will be taking on the role of global ambassador to expand the reach of the FTX brand and tout the viability of cryptocurrency to new audiences around the world through several upcoming initiatives.

The partnership with FTX marks the 33-year-old’s first investment in the cryptocurrency space as the burgeoning entrepreneur continues to diversify his growing portfolio.

Additionally, FTX has committed to providing an annual charitable contribution to Stephen and Ayesha Curry’s foundation, Eat.Learn.Play. The foundation seeks to unlock the full potential of every child, anchored around the three core values vital to a successful childhood: nutrition, education and active living. Likeminded with FTX, Eat.Learn.Play. and its founders are committed to ensuring an equal road to a brighter future for all kids, with a specific focus on fighting to end childhood hunger, ensuring students have access to a quality education and providing safe places for all children to play and be active. Since the start of the COVID-19 pandemic, Eat.Learn.Play. and its community partners have served over 17 million nutritious meals to Oakland kids and families affected.   

Sam Bankman-Fried, CEO of FTX, said, “After meeting and speaking with Stephen, it was clear that he is a seamless fit for FTX. His tireless commitment to charity alongside a ferocious work ethic to become the greatest in any arena he steps foot in, whether it is basketball, investing or business, perfectly align with FTX’s core values. I look forward to working together with Stephen to create a positive impact for those who need it most in the world.”

About FTX.US

FTX.US is a US-regulated cryptocurrency exchange, built from the ground up. Its mission is for FTX.US to grow the digital currency ecosystem, offer US and international traders a platform that inspires their loyalty, and to become the market leading US regulated cryptocurrency exchange by volume within the next two years.

To learn more about FTX.US, please visit: https://ftx.us/

About FTX.COM

FTX.COM is a cryptocurrency exchange built by traders, for traders. It offers innovative products, including industry-leading derivatives, options and volatility products, tokenized stocks, prediction markets, leveraged tokens and an OTC desk. FTX.COM strives to be an intuitive yet powerful platform for all kinds of users, and to be the most innovative exchange in the industry.  FTX.COM has grown quickly since its founding, becoming one of the most respected cryptocurrency exchanges in the world in less than 2 years.

FSCA warns the public against BINANCE GROUP

The Financial Sector Conduct Authority (FSCA) warns the public to be cautious and
vigilant when dealing with BINANCE GROUP as they are not authorised to give any
financial advice or render any intermediary services in terms of the Financial Advisory
and Intermediary Services Act, 2002 (FAIS Act) in South Africa.

The FSCA received information that BINANCE GROUP, an international company
situated in the Seychelles which has a telegram group that members of the South African
public can join to gain access to their cryptocurrency exchange platform. The FSCA
would like caution that in addition to this entity not being authorised to provide any
financial services or business, crypto-related investments are currently not regulated by
the FSCA or any other body in South Africa. As a result, if something goes wrong, you’re
unlikely to get your money back and will have no recourse against anyone.

Members of the public should always check that an entity or individual is registered with
the FSCA to provide Financial Advisory & Intermediary Services and what category of
advice it is that the entity is registered to provide. There are instances where persons are
registered to provide basic advisory services for a low-risk product and then offer services
of a far more complex and risky nature. The FSCA again reminds consumers who wish to
conduct financial services with an institution or person to check beforehand with the
FSCA on either the toll free number (0800 110 443) or on the website www.fsca.co.za as
to whether or not such institution or person is authorised to render financial services, and
in particular which financial products they are licensed for.

Mastercard Launches New Start Path Cryptocurrency and Blockchain Program for Startup

From creating a marketplace for non-fungible tokens (NFTs) to building an air-gapped cold vault to enabling new sustainable digital assets, seven global crypto and digital assets startups join Mastercard’s award-winning Start Path program to access partnership opportunities, insights and tools to grow.

Mastercard announced today a new Start Path global startup engagement program dedicated to supporting fast-growing digital assets, blockchain and cryptocurrency companies. As a continuation of Mastercard’s digital assets work, seven startups have joined the program, including GK8, Domain Money, Mintable, SupraOraclesSTACS, Taurus, and Uphold, and together with Mastercard seek to expand and accelerate innovation around digital asset technology and make it safer and easier for people and institutions to buy, spend and hold cryptocurrencies and digital assets.

Among the new program participants is Mintable (Singapore), a non-fungible token (NFT) marketplace where users can create, buy and sell digital and physical assets backed by the blockchain such as digital collectibles, avant-garde artwork and even music. The Mintable platform is packed with novel features such as gasless minting and credit card purchasing that are designed to empower the everyday person to get involved with NFTs without any prior knowledge in crypto or coding. GK8 (Israel) is a self-managed end-to-end institutional crypto custody platform that offers a true air-gapped cold vault. This means that the platform is capable of creating, signing and sending secure blockchain transactions without receiving input from the internet, eliminating any potential cyberattack vectors. Taurus (Switzerland) delivers enterprise-grade infrastructure to manage any digital asset with one single platform, including crypto assets, digital currencies and tokenized assets covering issuance, custody, asset servicing and trading.

Other participating startups and fast-growing digital asset and blockchain companies have been selected to join the inaugural track of the Start Path program:

  • Domain Money (USA) looks to build a next generation investment platform, bridging the gap between digital assets and traditional finance for retail investors.
  • SupraOracles (Switzerland) is a powerful blockchain oracle that helps businesses bridge real-world data to both public and private chains, enabling interoperable smart contracts to automate, simplify and secure the future of financial markets.
  • STACS (Singapore) provides a blockchain infrastructure for the financial industry to unlock massive value and enable effective sustainable financing. Its clients and partners include global banks, national stock exchanges, and asset managers.
  • Uphold (USA) is a crypto-native, multi-asset digital money platform offering investment and payment services to consumers and businesses worldwide. Uphold’s unique ‘Anything-to-Anything’ trading experience enables customers to trade directly between asset classes with embedded payments facilitating a future where everyone has access to financial services.

Founders of the digital asset and blockchain companies participating in the new Start Path program aim to address a host of pain points including asset tokenization, data accuracy, digital security and seamless access between the traditional and digital economy. Each startup is focused on solving a unique industry challenge and, throughout the program, will leverage Mastercard’s expertise to support the continued growth and development of their solutions.

Jess Turner, executive vice president of New Digital Infrastructure and Fintech, commented: “Mastercard has been engaging with the digital currency ecosystem since 2015. As a leading technology player, we believe we can play a key role in digital assets, helping to shape the industry, and provide consumer protections and security. Part of our role is to forge the future of cryptocurrency, and we’re doing that by bridging mainstream financial principles with digital assets innovations.”

Digital Assets and Fintech Innovation

Supporting the startup ecosystem is a core part of Mastercard’s ethos, and more than 250 startups have participated in the Start Path program since 2014. With the expansion of Start Path to include fast-growing crypto, blockchain and digital assets startups, Mastercard is providing access to its latest tools and solutions to help these companies scale their innovations and cutting-edge technologies. These startups use the program to connect with our ecosystem of banks, merchants, partners and digital players across the globe to deliver new solutions.

About Mastercard (NYSE:MA):

Mastercard is a global technology company in the payments industry. Our mission is to connect and power an inclusive, digital economy that benefits everyone, everywhere by making transactions safe, simple, smart and accessible. Using secure data and networks, partnerships and passion, our innovations and solutions help individuals, financial institutions, governments and businesses realize their greatest potential. Our decency quotient, or DQ, drives our culture and everything we do inside and outside of our company. With connections across more than 210 countries and territories, we are building a sustainable world that unlocks priceless possibilities for all.

UFC® and Crypto.com Announce Historic Partnership

Crypto.com Becomes First-Ever Global Official Fight Kit Partner of UFC, also Named First-Ever Official Cryptocurrency Platform Partner of UFC

UFC®, the world’s premier mixed martial arts organization, and Crypto.com, the world’s fastest growing crypto platform, today announced a historic long-term partnership that represents an evolutionary step in the branding of both companies and Crypto.com’s latest strategic move to connect with mainstream consumers.

Crypto.com will become UFC’s first-ever global Official Fight Kit Partnerentitling Crypto.com to place their branding on UFC fight kits as worn by UFC athletes in competition, as well as fight kit apparel worn by the athletes’ corner men/women. From the locker room to the world-famous Octagon®, Crypto.com will have meaningful visibility in front of UFC’s global fan base of more than 625 million people and over 150 million social media followers, including the 900 million TV households in 175 countries with access to UFC’s broadcasts.

Crypto.com will also receive the designation of UFC’s first-ever Official Cryptocurrency Platform Partnercreating a new sponsorship category for UFC.

Crypto.com has built a leading reputation within the cryptocurrency industry with over 10 million users worldwide and is a top-ten finance app in both the App Store and Google Play. In addition to building the world’s fastest growing crypto platform, the Crypto.com Visa Card is the world’s most popular crypto card available in 30+ countries. Crypto.com has led the industry in sports sponsorships, last week announcing that the company became the first Official Cryptocurrency Sponsor and NFT Partner of F1®. Earlier this year, Crypto.com became the first crypto platform to partner with an F1 team (Aston Martin Cognizant Formula One), the first to partner with an NHL team (Montreal Canadiens), and the first to partner with a professional sports league (Lega Serie A).

“This is a partnership between two companies that are the best at what they do,” said UFC President Dana White. “No company has done more to grow the popularity of combat sports than UFC, and now we’re one of the biggest sports brands on the planet. We can help Crypto.com reach more people around the world through the strength of our brand.”

“It’s a historic moment as the fastest growing cryptocurrency platform joins forces with the fastest growing sport to help accelerate the world’s transition to cryptocurrency,” said Kris Marszalek, co-Founder and CEO of Crypto.com. ”This is just the beginning of a long relationship with UFC, and we’re looking forward to what we will build together.”

BRANDED INTEGRATIONS AND ENTITLEMENTS

In addition to the massive exposure of the Crypto.com logo placement on UFC fight kits, the partnership offers Crypto.com a wide-range of integrations into UFC assets. Crypto.com will have a branded presence inside the Octagon during all Pay-Per-View events and during Dana White’s Contender Series. Crypto.com will also be integrated into UFC content on both linear and digital platforms, including live broadcasts, Pay-Per-Views, and UFC-owned social media channels. Crypto.com-branded assets will debut this Saturday, July 10, in Las Vegas during UFC® 264: POIRIER VS. MCGREGOR 3.

About UFC®

UFC® is the world’s premier mixed martial arts organization (MMA), with more than 625 million fans and 155 million social media followers. The organization produces more than 40 live events annually in some of the most prestigious arenas around the world, while broadcasting to approximately 900M TV households across more than 175 countries. UFC’s athlete roster features the world’s best MMA athletes representing more than 70 countries. The organization’s digital offerings include UFC FIGHT PASS®, one of the world’s leading streaming services for combat sports. UFC is owned by global entertainment, sports and content company Endeavor, and is headquartered in Las Vegas, Nevada. For more information, visit UFC.com and follow UFC at Facebook.com/UFC, Twitter, Snapchat, Instagram and TikTok: @UFC.

About Crypto.com

Founded in 2016, Crypto.com today serves over 10 million customers with the world’s fastest growing crypto app, along with the Crypto.com Visa Card — the world’s largest crypto card program — the Crypto.com Exchange and Crypto.com DeFi Wallet. Recently launched, Crypto.com NFT is the premier platform for collecting and trading NFTs, carefully curated from the worlds of art, design, entertainment and sports.

Crypto.com is built on a solid foundation of security, privacy and compliance and is the first cryptocurrency company in the world to have ISO/IEC 27701:2019, CCSS Level 3, ISO27001:2013 and PCI:DSS 3.2.1, Level 1 compliance, and independently assessed at Tier 4, the highest level for both NIST Cybersecurity and Privacy Frameworks.

With over 1,500 people in offices across the Americas, Europe and Asia, Crypto.com is accelerating the world’s transition to cryptocurrency. Find out more: https://crypto.com

deVere CEO: “I sold half my Bitcoin holdings over Christmas”

As Bitcoin hits nearly $32,000, Nigel Green, the CEO of one of the world’s largest financial advisory and fintech organizations has revealed that he has sold half of his Bitcoin holdings.
 
The revelation from the deVere Group chief executive Nigel Green – one of the first high-profile cryptocurrency advocates – comes as the Bitcoin price hit another all-time high.
 
The world’s largest cryptocurrency by market capitalisation jumped to more than $34,000. The value of all Bitcoin in circulation is now around $492 billion.
 
Mr Green stated: “I have sold half my holdings of Bitcoin as it hit an all-time high.  Why? Because it should now be treated as any other investment –that’s to say, where possible, it’s better to sell high and re-buy in the dips.
 
“The steady gains in the price of Bitcoin has made the digital currency the top-performing asset of 2020, up over 200%. As such, I felt the time was right for profit-taking.”
 
He continues: “There should be no misunderstanding about my decision to sell.  It is not due to a lack of belief in Bitcoin, or the concept of digital currencies – it’s profit-taking now to buy more later.
 
“Indeed, more than ever, I believe that the future of money is cryptocurrencies.”
 
As Bitcoin surged past $20,000 for the first time ever last week the CEO noted that as some of the world’s biggest institutions – amongst them multinational payment companies and Wall Street giants – “pile ever more into crypto, bringing with them their enormous expertise and capital, this in turn, swells consumer interest.”
 
He went on to note that with governments continuing to support economies and increase spending due to the pandemic, investors are increasingly going to look to Bitcoin as a hedge against the “legitimate inflation concern.” 
 
Previously Mr Green observed that inherent traits of cryptocurrencies are ever-more attractive. “These characteristics include that they’re borderless, making them perfectly suited to a globalised world of commerce, trade, and people; that they are digital, making them an ideal match to the increasing digitalization of our world; and that demographics are on the side of cryptocurrencies as younger people are more likely to embrace them than older generations.”
 
In addition, a global poll carried out by deVere Group found that nearly three-quarters of high-net-worth individuals will be invested in cryptocurrencies before the end of 2022.
 
The deVere CEO concludes: “Like me, many traders will sell record high prices as an opportunity to sell, so we can expect some pullback on prices in the near-term.
 
“But the longer-term price trajectory for Bitcoin is, I believe, undoubtedly upwards.”

Source: deVere

SEC Obtains Emergency Asset Freeze Charges Crypto Fund Manager with Fraud

The Securities and Exchange Commission (SEC) today announced that it filed an emergency action and obtained an order imposing an asset freeze and other emergency relief against Virgil Capital LLC and its affiliated companies in connection with an alleged securities fraud relating to Virgil Capital’s flagship cryptocurrency trading fund, Virgil Sigma Fund LP. The Commission’s action alleges that the fraud was directed by Stefan Qin, an Australian citizen and part-time resident of New York, who owns and controls Virgil Capital and its affiliated companies.

According to the SEC’s complaint, Qin and his entities have been defrauding investors in the Sigma Fund since at least 2018 by making material misrepresentations about the fund’s strategy, assets, and financial condition.  The complaint alleges that the defendants misled investors to believe their money was being used solely for cryptocurrency trading based on a proprietary algorithm, while Qin and the entities used investment proceeds for personal purposes or for other undisclosed high-risk investments. Since at least July 2020, Qin and Virgil Capital have told investors who requested redemptions from the Sigma Fund that their interests would be transferred instead to another fund under the ultimate control of Qin but with separate management and operations, the VQR Multistrategy Fund LP. The complaint alleges that no funds were transferred and the redemption requests remain outstanding. The SEC’s complaint further alleges that Qin is actively attempting to misappropriate assets from the VQR Fund and to raise new investments in the Sigma Fund.

“This emergency action is an important step to protect investor assets and prevent further harm,” said Kristina Littman, Chief of the SEC Enforcement Division’s Cyber Unit. “Qin allegedly made false promises to lure investors and then continued his deception to conceal his misuse of investor funds.”

The SEC‘s complaint, filed in the Southern District of New York on Dec. 22, 2020, charges Qin, Virgil Technologies LLC, Montgomery Technologies LLC, Virgil Quantitative Research LLC, Virgil Capital LLC, and VQR Partners LLC with violations of the antifraud provisions of the federal securities laws, and seeks permanent injunctions, including conduct-based injunctions, disgorgement with prejudgment interest, and civil penalties.

The SEC’s ongoing investigation is being conducted by Fitzann Reid of the San Francisco Regional Office and Amanda Straub of the Enforcement Division’s Cyber Unit. The litigation will be led by Susan LaMarca, Ms. Straub, and Ms. Reid, and the case is being supervised by Steven Buchholz and Ms. Littman of the Cyber Unit.

Blockchain, Stablecoins and Gold

Blockchain Technology in the last years aims, among others, to create a new and safe payments system for global transactions that will be fast, secure, cheap, transparent, and decentralized. For that, it’s going to use cryptocurrencies.

The value of most cryptocurrencies, like Litecoin and Bitcoin, fluctuates daily, and while the digital currencies aim to facilitate safer transactions, their values depends increasingly on speculation.

The first wave of crypto assets has failed to provide a reliable and attractive medium of exchangeand/or store of value. Crypto coins suffer from high volatility, limits to scalability, complicated user interfaces and issues in accounting, governance and regulation. Crypto assets have served more as a speculative asset class for traders-speculators and those engaged in illegal activities rather than as a means to facilitate global transactions and payments. Today, new stablecoins have many of the features of more traditional cryptocurrencies but aim to stabilise the price of the crypto coin by linking its value to that of an underlying asset or a commodity.

Stablecoins are increasingly gaining traction as their values are pegged to other assets such as the USD, gold, oil or silver. Stablecoins aim to mimic the same functionality of fiat currencies. A stablecoin is a crypto currency that is pegged to and/or backed by an underlying asset.

Stablecoins enjoy the benefits of a cryptocurrency (security, transparency, privacy, etc.) without the extreme volatility that comes with most of them.

In the last months there has been a “stablecoin invasion.” Numerous stablecoins have been released or are in development all over the world.

Most of the stablecoins are pegged at a 1:1 ratio with fiat currencies, such as the USD or the Euro, which can be traded on forex. Other stablecoins can be backed to other kinds of assets, such as commodities like gold, or even by other cryptocurrencies like bitcoin.

Commodity-backed stablecoins are backed by other kinds of assets, among others gold, silver or other precious metals. Gold is the most common commodity to be collateralized.  Investors and users of precious metals-backed stablecoins essentially hold a tangible asset that has real tangible value. Precious metals have the potential to appreciate in value over time, which gives increased incentive for investors to hold and use these stablecoins.

Blockchain technology now has established itself as a secure accounting method, and with BTC becoming well known to global investors, a new era of gold-backed cryptocurrency is emerging, even countries are looking to issue their own gold-based cryptocurrency.

A coin is issued that represents a certain quantity of gold (e.g. 1 gram of gold equals 1 coin)so that at a minimum the price of the stablecoin will always equal the current gold price. The gold is stored in a safe location by a trusted custodian, and can be traded on exchanges with other cryptocurrencies.

An example of stablecoins backed by precious metals are KAU (Gold Currency) and KAG (Silver Currency) which are the primary currencies of Kinesis. On Kinesis Gold Stablecoins you can find a presentation of Kinesis, a list of articles and other materials about this project, which is evolving into a whole monetary system.

When evaluating gold-backed stablecoins look atthe legal framework concerning ownership and storage of the gold: it is important to make sure that you own the physical gold.

There are also stablecoins backed by other cryptocurrencies. This allows the stablecoins to be much more decentralized than their fiat-backed counterparts, since everything is conducted on the blockchain.

Finally, there are also non-collateralized stablecoins that are not backed by anything, which might seem contradictory given what stablecoins are. These types of coins use an algorithm to control the stablecoin supply.

Paying with Bitcoin: What You Need to Know

Cryptocurrency, especially Bitcoin, continues to rise in popularity despite its value’s volatility recently; and if you are looking to use bitcoin to pay for things, you have to take due diligence in knowing how to do it, where you can spend, buy cryptocurrencies, or earn bitcoins, the best trading platform, and what the risks and advantages are.

How do you pay with bitcoin?

First, you need a bitcoin wallet. There are free bitcoin wallets available for smartphones and all major operating systems. Just like with a physical wallet, you must always secure it – this means being careful with online services, putting backup and encryption, and putting just small amounts in it for everyday use.

A very common use for bitcoin is for online purchases. Today, there are hundreds of retailers and online shops – even local businesses – that accept bitcoins. Bitcoin can be used to purchase gift cards, videogames, household items; you can also use it in tipping and donating to charity. There are different ways to pay using your bitcoin. You can pay using your wallet or app, via QR code, or pay directly to a bitcoin address. Making a blockchain payment is fast and convenient – and you do not need to key in sensitive information when making a payment.

What are the advantages?

  • Anonymity. Your purchases are discrete with bitcoin, which means they are never associated with your personal identity. In fact, the bitcoin address generated is different for every purchase you make.
  • Low Transaction Fees. Since there is still no government involvement in bitcoin transactions at this point, the costs of transacting are very low.
  • Mobile. Since paying with bitcoin can be done using an app on your mobile phone, you can pay for our purchases anywhere you are as long as you have internet access.
  • No interruptions. Since the bitcoin system is purely peer-to-peer, it is void of involvement of banks, financial institutions, and the government.
  • No Sales Taxes. One major advantage of paying with bitcoin is that no sales taxes are added in your purchases since there are no third parties identify or track them.




What are the risks?

One thing that you need to understand is that bitcoin, no matter how popular it has become at this point, is still experimental. Getting into bitcoin now can mean that you have to deal with the growing pains as it still at the stage in which it is still improving and such improvements may bring about new challenges.

Bitcoin price very volatile. You should look at bitcoin as a high risk asset and you must not keep your savings with bitcoin at this point.

You must adopt good practices in protecting your privacy as bitcoin is not entirely anonymous. Your identity behind the bitcoin address you’re using may be anonymous, but transactions and balances in your address can be seen by anyone.

Bitcoin payments cannot be reversed, so only transact with people you trust and business that have already established their reputation. Beware of scams, fake ICOS, and fraudulent activities.

Moreover, bitcoin purchases are not taxed at the moment since there is no way for third parties to identify, track, or intercept transactions that use bitcoins.

Contact us at Hogan Injury for expert legal advice.

None of the content on Hoganinjury.com is legal advice nor is it a replacement for advice from a certified lawyer. Please consult a legal professional for further information.

FinSafe Welcomes the New Kind of Traders

Although the cryptocurrency topic seems to have firmly entrenched in headlines all across the world, the process of working in this market (especially for professional traders from traditional markets) remains somewhat of an experiment and a niche challenge for a few brave ones. However, one team claimed that they have found a way of moving the market closer towards new rules of the game, while also making cryptocurrency trading more attractive for traders with a traditional stock market background. This team is FinSafe – a professional crypto-trading platform which combines best practices and tools from both the traditional and crypto markets.

According to Victor Murga, CEO of FinSafe, to date the crypto-market has successfully survived the time of 100Xs, hopes for quick profits and continuous growth. With full certainty, we can say that we have passed the phase of the Gold Rush and are entering that part of the story where having ordinary luck is no longer enough. If you are a pro trader, you need to work and work hard.

However, while the market itself has already undergone changes, working conditions change very slowly. An average trader is working as if they live in 2016-17: scattered crypto-exchanges, the lack of convenient tools, and the dependence on the movement of the largest whales. On the other hand, traditional markets with established rules and approaches strive and prosper because traders have all the necessary tools for comfortable work. These people have real capital, but entering crypto-markets is simply uncomfortable and inconvenient for them.

FinSafe is here to change the current situation.

Unique Trading Proposition

Victor Murga, CEO of FinSafe

Due to several exclusive features, FinSafe proposes a solution radically different from other crypto projects. Firstly, no other solution on crypto market combines trading charts, indicators, cross exchange consolidated order book, smart order routing, market screener, real-time industry newsfeed, multi-screen (monitor) fully customizable layouts, fast order execution, and post-trading analytics. It’s our team’s main goal for the launch. According to the team’s statements, FinSafe is creating a truly unified tool that is equally convenient for both traders within crypto market and professionals from Wall Street. Traders will be working in an environment where the system provides relevant news, analytics, and key data, reducing the need to scour the internet for additional sources of information. Put simply, they will have just one piece of software that will replace everything they have ever used before.

Secondly, FinSafe will help crypto become more solid and credible currency in traditional traders’ eyes. How? Because of its stand-alone software. By connecting directly to the main exchanges like Binance, Bitfinex, Coinbase Pro, Huobi, HitBTC, Poloniex, Kraken, and Bitstamp, and integrating their APIs into FinSafe software, traders would be able to buy and sell their assets without the hassle of logging anywhere else but FinSafe platform. Besides, all operations can be visually monitored, helping traders to react if whales make a run on the market or other significant events that can affect trading profitability occur.



At the moment, FinSafe is focused on working in two areas. First is the development of a whole range of products, which are parts of the platform. For some of them, the company already has fully working MVPs. Others are in the conceptual phase.

The second direction is an SEC license. Once FinSafe has secured it, they will be ready for takeoff. Other licenses for the EU market can be acquired with less difficulty. Workaround will be created for the Asian region and the rest of the world as well.