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Crypto Investment Products Volume Hits ‘Lowest Since October 2020’

Crypto Investment Products Volume Hits ‘Lowest Since October 2020’

Volumes in digital asset investment products remained very low and generated US$901 million last week, the lowest since October 2020.

This is according to the new digital asset fund flows reports from CoinShares, as shared with Finance Magnates.

According to CoinShares, digital asset investment products saw minor outflows last week totalling US$27 million. Two weeks ago, recorded weekly crypto outflows stood at $9 million.

The digital asset management firm explained that this gives a total outflow of US$46 million in the last three weeks.

“While history indicates this is in part due to seasonal effects, we believe it also highlights continued apathy following recent price declines,” CoinShares said.

Outflow by Asset

Meanwhile, CoinShares explained that in terms of crypto investment products in the last three weeks, Bitcoin “was almost solely the focus of the outflows”.

During the period, outflows from investment products in the foremost digital asset totalled US$29 million.

Furthermore, the firm observed, investors have continued to add to short-Bitcoin investment products. This form of investment generated US$1 million last week, CoinShares said.

“Both imply minimal but continued caution from investors which we believe is due to the ongoing hawkish rhetoric from the US Federal Reserve,” the firm, however, pointed out.

Away from Bitcoin, CoinShares said Ether recorded minor outflows last week. Outflows in the second-biggest cryptocurrency totalled US$1 million.

The investment firm explained that this implies that despite increased confidence in the upgrade to the Ethereum network or The Merge expected in September, most investors are opting to wait for the transition to proof-of-stake to happen first.

“Very minor inflows were seen in Solana, Cardano, XRP, Tezos, Chainlink and Uniswap,” CoinShares added.

Regional Outflow

According to CoinShares, minor outflows were recorded in digital asset investment products from various regions of the world.

The firm, however, pointed out that by way of comparison, outflows primarily emerged from the United States (US$20 million), Sweden (US$4.2 million) and Germany (US$2.3 million).

CoinShares noted that Brazil sat on the extreme or “was the only outlier,” and recorded minor inflows that totalled US$1.2 million.

Volumes in digital asset investment products remained very low and generated US$901 million last week, the lowest since October 2020.

This is according to the new digital asset fund flows reports from CoinShares, as shared with Finance Magnates.

According to CoinShares, digital asset investment products saw minor outflows last week totalling US$27 million. Two weeks ago, recorded weekly crypto outflows stood at $9 million.

The digital asset management firm explained that this gives a total outflow of US$46 million in the last three weeks.

“While history indicates this is in part due to seasonal effects, we believe it also highlights continued apathy following recent price declines,” CoinShares said.

Outflow by Asset

Meanwhile, CoinShares explained that in terms of crypto investment products in the last three weeks, Bitcoin “was almost solely the focus of the outflows”.

During the period, outflows from investment products in the foremost digital asset totalled US$29 million.

Furthermore, the firm observed, investors have continued to add to short-Bitcoin investment products. This form of investment generated US$1 million last week, CoinShares said.

“Both imply minimal but continued caution from investors which we believe is due to the ongoing hawkish rhetoric from the US Federal Reserve,” the firm, however, pointed out.

Away from Bitcoin, CoinShares said Ether recorded minor outflows last week. Outflows in the second-biggest cryptocurrency totalled US$1 million.

The investment firm explained that this implies that despite increased confidence in the upgrade to the Ethereum network or The Merge expected in September, most investors are opting to wait for the transition to proof-of-stake to happen first.

“Very minor inflows were seen in Solana, Cardano, XRP, Tezos, Chainlink and Uniswap,” CoinShares added.

Regional Outflow

According to CoinShares, minor outflows were recorded in digital asset investment products from various regions of the world.

The firm, however, pointed out that by way of comparison, outflows primarily emerged from the United States (US$20 million), Sweden (US$4.2 million) and Germany (US$2.3 million).

CoinShares noted that Brazil sat on the extreme or “was the only outlier,” and recorded minor inflows that totalled US$1.2 million.


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Eurotrader Onboards Exinity’s Martin Couper as Head of Global Compliance

Eurotrader Onboards Exinity’s Martin Couper as Head of Global Compliance

Multi-asset retail broker, Eurotrader, has hired Martin Couper, a former executive at forex group Exinity, as its Head of Global Compliance.

Finance Magnates reported that forex industry veteran Marcelo Spina, who left ThinkMarkets in January last year to launch Operar FX, joined Eurotrader last week as new Group CEO.

Couper's LinkedIn profile shows that he joined Eurotrader in May 2022 and has thus been acting in the capacity for four months now.

The executive until his appointment was the Global Head of Compliance at Exinity. He served the company for four years and nine months.

He joined Exinity in August 2017 and doubled as the General Manager and Head of UK Compliance of the forex group until the new appointment.

Couper said his vision is to help Eurotrader increase its current licenses and strengthen its foundation, according to a media report.

He also said the retail broker will maintain its position in markets where it is regulated and further its goal of providing a reliable trading environment for its customers.

On his part, Spina noted that Couper’s appointment aligns with the broker's campaign to provide a transparent trading platform to traders.

Couper's Industry Experience

Finance Magnates’ checks shows that Couper is bringing over 15 years of industry experience to the role, having started his career as early as September 2006.

Before Exinity, the executive was the Senior Manager of Customer Operations at Sydney, Australia-based financial services provider Commonwealth Bank, where he spent nine months.

Between February 2014 and December 2015, he was a Director, Compliance Officer and Money Laundering Reporting Officer, at Amana Financial Services UK Limited.

He previously worked as the Head of Operations and UK Compliance at FXPro UK Limited, for four years and six months between July 2009 and December 2013.

Meanwhile, Simon Henry recently left Capital.com to join Exinity as Compliance Director, bringing over 20 years of experience as a compliance expert to the role.

Multi-asset retail broker, Eurotrader, has hired Martin Couper, a former executive at forex group Exinity, as its Head of Global Compliance.

Finance Magnates reported that forex industry veteran Marcelo Spina, who left ThinkMarkets in January last year to launch Operar FX, joined Eurotrader last week as new Group CEO.

Couper's LinkedIn profile shows that he joined Eurotrader in May 2022 and has thus been acting in the capacity for four months now.

The executive until his appointment was the Global Head of Compliance at Exinity. He served the company for four years and nine months.

He joined Exinity in August 2017 and doubled as the General Manager and Head of UK Compliance of the forex group until the new appointment.

Couper said his vision is to help Eurotrader increase its current licenses and strengthen its foundation, according to a media report.

He also said the retail broker will maintain its position in markets where it is regulated and further its goal of providing a reliable trading environment for its customers.

On his part, Spina noted that Couper’s appointment aligns with the broker's campaign to provide a transparent trading platform to traders.

Couper's Industry Experience

Finance Magnates’ checks shows that Couper is bringing over 15 years of industry experience to the role, having started his career as early as September 2006.

Before Exinity, the executive was the Senior Manager of Customer Operations at Sydney, Australia-based financial services provider Commonwealth Bank, where he spent nine months.

Between February 2014 and December 2015, he was a Director, Compliance Officer and Money Laundering Reporting Officer, at Amana Financial Services UK Limited.

He previously worked as the Head of Operations and UK Compliance at FXPro UK Limited, for four years and six months between July 2009 and December 2013.

Meanwhile, Simon Henry recently left Capital.com to join Exinity as Compliance Director, bringing over 20 years of experience as a compliance expert to the role.


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Exclusive: Ilies Larbi’s Crypto Exchange Ouinex Seeks €1M in Pre-ICO Round

Exclusive: Ilies Larbi’s Crypto Exchange Ouinex Seeks €1M in Pre-ICO Round

Ouinex, the cryptocurrency exchange launched by FX industry veteran Ilies Larbi, informed Finance Magnates that it is aiming to secure €1 million in its pre-initial coin officer (pre-ICO) funding round .

There will be two subsequent ICO rounds expected for Q1 2023 launch. With that, the company will seek a further €15 million. It has already launched its website and whitepaper to support the funding.

Headquartered in France, Ouinex is an international cryptocurrency exchange . Larbi launched the exchange earlier this year after a long career in the retail forex and CFDs trading market. The exchange has a team of seven people, including the Co-Founder and Chief Commercial Officer, Benjamin Verdot, and Chief Strategy Officer, Lisa Majmin, both of whom are involved in the capital raising process.

"We feel our strength resides in the composition of the team," Majmin told Finance Magnates.

The company is targeting angel investors, venture capitals and high-net-worth individuals for its pre-ICO round. It will also allow retail investors to purchase OUIX tokens, which is a utility token of the exchange, in the ICO round.

Ouinex is targeting investors in the European Union, Africa and Latin America for its funding.

“After months of development, Ouinex Crypto Exchange is proud to announce our foray into a round of discussions for our pre-ICO cap raise,” Ouinex stated in its official press release shared with Finance Magnates.

“The last few months of the crypto 'winter' has proven opportune as our team has refined our strategy and offering. Our strategy relies on our agility to adapt to the current market climate."

Opportunity in Hard Times

Moreover, the exchange is seeking funds at an interesting time when the ICO market lost its popularity and cryptocurrency prices are shedding value.

“We firmly believe that the ICO market isn't dead, but rather has consolidated into a more strict environment,” said Majmin. “ICO investors are now a lot more diligent in choosing the projects they invest in, and only solid ventures will earn their trust. Where in the past all ICOs had decent chances at being successful, now only the most robust projects can make it. Ouinex is one of these projects.”

Further, the exchange thinks that the ongoing bear market gives traders and investors an opportunity with lower prices.

“We anticipate a decrease in investment appetite for investors to the crypto industry, however, we see that that the more seasoned VCs & Investors are still very much active in the space as this isn't the first crypto winter they go through,” the spokesperson added.

Ouinex, the cryptocurrency exchange launched by FX industry veteran Ilies Larbi, informed Finance Magnates that it is aiming to secure €1 million in its pre-initial coin officer (pre-ICO) funding round .

There will be two subsequent ICO rounds expected for Q1 2023 launch. With that, the company will seek a further €15 million. It has already launched its website and whitepaper to support the funding.

Headquartered in France, Ouinex is an international cryptocurrency exchange . Larbi launched the exchange earlier this year after a long career in the retail forex and CFDs trading market. The exchange has a team of seven people, including the Co-Founder and Chief Commercial Officer, Benjamin Verdot, and Chief Strategy Officer, Lisa Majmin, both of whom are involved in the capital raising process.

"We feel our strength resides in the composition of the team," Majmin told Finance Magnates.

The company is targeting angel investors, venture capitals and high-net-worth individuals for its pre-ICO round. It will also allow retail investors to purchase OUIX tokens, which is a utility token of the exchange, in the ICO round.

Ouinex is targeting investors in the European Union, Africa and Latin America for its funding.

“After months of development, Ouinex Crypto Exchange is proud to announce our foray into a round of discussions for our pre-ICO cap raise,” Ouinex stated in its official press release shared with Finance Magnates.

“The last few months of the crypto 'winter' has proven opportune as our team has refined our strategy and offering. Our strategy relies on our agility to adapt to the current market climate."

Opportunity in Hard Times

Moreover, the exchange is seeking funds at an interesting time when the ICO market lost its popularity and cryptocurrency prices are shedding value.

“We firmly believe that the ICO market isn't dead, but rather has consolidated into a more strict environment,” said Majmin. “ICO investors are now a lot more diligent in choosing the projects they invest in, and only solid ventures will earn their trust. Where in the past all ICOs had decent chances at being successful, now only the most robust projects can make it. Ouinex is one of these projects.”

Further, the exchange thinks that the ongoing bear market gives traders and investors an opportunity with lower prices.

“We anticipate a decrease in investment appetite for investors to the crypto industry, however, we see that that the more seasoned VCs & Investors are still very much active in the space as this isn't the first crypto winter they go through,” the spokesperson added.


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CryptoGames Brings Crypto Gambling to All Devices

CryptoGames Brings Crypto Gambling to All Devices

After the digital finance revolution, the golden days of traditional gambling are fading in front of online gambling platforms. Digital and modern architectures are now incorporating digital currencies and new-edge aesthetics into casino games to transform how people engage in the most definitive source of entertainment. The vast list of gambling platforms offering cryptocurrency-based transaction methods makes entertainment more fun for gamblers worldwide. It is also more straightforward than ever since people can access the games and all the additional entertainment without leaving their home’s comfort. Many online casinos now offer their services for modern users of Cryptocurrency with supporting transaction systems. Among so many online crypto-based casinos, only a handful can become a good fit for beginners or someone who just got into crypto gambling. By offering what the new crypto gamblers are searching for, CryptoGames has created a space that curious gamblers from any smart device can access.

General Concept of The Casino

Screenshot 20220829 142105
CryptoGames Brings Crypto Gambling to All Devices 3

CryptoGames is an online casino created and maintained by MuchGaming B.V., according to the license of the Curacao Government. By providing 10 widely popular cryptocurrencies, the casino has attracted many crypto enthusiasts for fair gambling services. From the beginning, CryptoGames provides a new-edge deal of entertainment, useful free rewarding features, and a compact and classy game selection. There is something to enjoy for all at CryptoGames.                               

Any new gambler on board can easily engage in 9 of the casino’s games for free. The system’s user-friendly interface provides a free gambling experience. To cater the worldwide gamblers with a classic gambling experience, CryptoGames offers 10 games on its system. The number is kept to be minimum as the casino focuses more on the entertainment value of each game. They all come with individual features for the players for a smooth gaming architecture. Any player can access the games from their smart devices like; mobile phones, tablets, laptops, and desktops. Since the architecture is adaptable to mobile phones, the worldwide community of gamblers can enjoy entertainment anytime. The house edges of the games have been kept reasonable so that players get to win more from their winning bets. 

Start Gambling Right Away

Opening any new player account at CryptoGames is free for all. Players must complete the basic registration to begin playing (9 games) or exploring the system. The basic registration allows the players to use Play Money and explore 9 games. To complete the basic registration process, players only have to create a username that is different from any other players’. 

CryptoGames’ Device Compatibility

From the description of the fast registration system, players can get an idea of the smooth and lightweight architecture that CryptoGames offers for all devices. The casino provides mobile AKA device compatibility through its neatly presented layout. The entire website has NO pop-ups, redirect links, or any click baits. Any gambler is free to enter the casino from their smartphones and tablets to access the casino through hassle-free sign-up. The UI consists of an architecture that is compatible with all IOS and Android device platforms. All of the games, including the ones with more complex designs like; Roulette, Blackjack, Minesweeper, Keno, and Video Poker, can be played on the devices mentioned above from any location having a secured internet connection.

Rewarding Features, Offers, and Events for the Players

CryptoGames created many rewarding features, offers, and events to keep up their growing number of loyal players on board. The space provides the mentioned extensions to bring more dimension to their crypto gambling services for the players. They also engage and reward them through various features like free play money, progressive jackpots, royal flush, etc all while hosting promotions and competitive events with plenty of rewards on the side.

Win Free Play Money Through the Faucet 

Any new player without much gambling experience can use the casino’s reward play currency, Play Money, for free gaming. CryptoGames hands out free Play Money to all the players right from the time of their registration. The play currency exclusively gives free access to 9 games at the casino. The only exception for Play Money is the game of Lottery, which is, in fact, only available for 4 cryptocurrencies only. Using Play Money, players may test out 9 games as many times as they want since the games will reward them with Play Money in return. If the players level up their accounts, then they can make more requests for Play Money from the free Faucet feature. The feature is highlighted for handing out free test currency. The higher-level players can request Play Money up to even 60 times daily. The request number can also vary depending on the player’s VIP status. 

Win Cryptocurrencies from the RainBot

Another free rewarding feature available is the RainBot. The rewarding feature gives small amounts of cryptocurrencies to the players for being active in the casino regularly. Simply visiting the website, betting on the games, and interacting through the Chatbox and Forum can increase the player levels and reward the gamblers from time to time. Details on how the Rainbot works are given in the FAQ section. 

Receive Rewards for Referring Friends:

Whenever a player wishes to expand the casino’s popularity among their friends or circle, they can find the referral links and promotional banners in the footer section of the Home Page. If the referrers successfully bring together more curious gamblers at the casino, they can win off 15% of the house edge of every game played by their referred players. The referral codes or promotional banners guarantee a lifetime of rewards for the players. Successful refers hand out rewards regardless of the size or result of the bet placed by the referred gamblers.

Win VIP Membership and Monthly Facilities

CryptoGames exhilarates its entertainment service through monthly events and rewards. The monthly competitive events encourage the players to compete for the casino’s grand VIP membership. All VIP members receive prizes for an entire month and have the opportunity to sustain them by winning the next events. The VIP tags give the players additional privileges like increased rewards, faster bet processing, chatbox access, and more. They also get: 

  • The lower house edge is offered for the Dice game, where it becomes 0.8% for an entire month. Meaning with 20% less house edge, VIP members can enjoy Dice for an entire month at the casino.
  • The system grants all VIP players with the highest priority for all bets. This means the VIP players can place any size and amount of bet without experiencing any server delay.
  • The limit for all exchanges will be higher and better for an entire month. VIP players can exchange any amount of cryptocurrencies through the casino’s exchange system since there is 0 onsite exchange limit. 
  • VIP players can utilize the VIP chatroom, where the casino managers will also be present.
  • Exclusively created VIP tag on Chatbox that highlights the player’s VIP status for an entire month.
  • On a tier 3 verification (KYC) or VIP players who have higher positions, VIP membership rewards them $100 worth of Bitcoins on their birthdays. 
  • VIP players can make more requests for Play Money from the Faucet.
  • For the month, VIP players get Voucher Drops in their emails based on their position on the leaderboard. 

Play A Variety of Games 

CryptoGames created a compact and classic variety of games for everyone at the casino. Even new gamblers with no prior experience in gambling or casino games can easily follow the game’s instructions to understand each game and its features. With most games, the casino offers an automatic Auto Bet feature that can run multiple rounds of bets effortlessly. The casino also uses up-to-date technology like; Provably Fair Gambling to ensure complete fairness in the results. This means there are no scopes for adulteration in the best results, and the players can claim their rewards immediately after winning the round. They can also immediately validate the results using seeds and hashes after processing each result. 

Dice 

Seen on the website as the first game that the Play Now tab offers, Dice is a user-friendly game with a range of 0.000 to 99.999 potential winning chances. This favorable range allows even beginners to try the classic game before proceeding to explore more complex games. In Dice, all players decide their bet amount and their payout multiplier according to the winning chances at the start. Dice players predict the roll’s outcome and guess if they have chosen the right condition out of two. Players can qualify their winning bets and lucky scores according to the rules for the Progressive Jackpots. 

Slot

With 7 winning combinations for the five reels, Slot is designed to have one of the easiest instruction sets for the players. Players click on the ‘Spin’ button to turn on the slot machine after pre-selecting their bet amounts and size. They can even spin the Slot machine for multiple rounds using the Auto Bet feature. Once a winning combination lines up in the middle row (regardless of order), the players can claim their payout according to the value of the combination. The Slot has a really easy set of rules with favorable winning chances. 

Roulette 

Roulette’s European version is offered with a great house edge and a favorable payout table that follows the American version. Before spinning the wheel, players place their neighbor bets and bet amount according to their strategies. The players will be compensated if the ball lands on a fruitful neighbor bet. The game offers an automatic feature known as the Neighbour Bet that can place the neighbor bets randomly. There are 4 automatic options in the feature. Roulette also has a Progressive Jackpot.

Blackjack 

One of the most classic games for every card game lover is undoubtedly Blackjack (also known as 21). Players decide all their bet amounts and size before the house deals the card. Players can win the game by forming a card combination with 21 or lower points. If the hand gets 21 points from the first two cards, the players will get to claim their rewards immediately. Players must know each card’s values before playing the game to form a winning hand. 

Lottery

The Lottery is one of CryptoGames’ effortlessly unique games, and it can be played using only 4 cryptocurrencies by following the easiest instruction. In the game, all the players have to do is purchase any number of tickets (up to the specified limit) from the “Buy Ticket” tab or by using Chat commands. Players must select their preferred cryptocurrencies to purchase the tickets while considering the available pots, reward size, and draw days. The players can also check the remaining tickets and their winning possibility all from the same page. 

Plinko

Plinko’s crypto version is widely known at the casino as the players recognize it from the show “The Price is right”. After placing their bet amounts and size, players must drop a shaded ball from the top of a pyramid-shaped digitally pegged board. Plinko players can pick one of four colored balls for the game. The available colors are: green, red, blue, and yellow. They can use the same or pick a different color of balls for each round, considering the house edge and payout table. The final reward will be given depending on the ball’s color, the winning slot number, and the colors house edge. 

Video Poker 

With a similar concept to Poker, CryptoGames presents Video Poker in a modern crypto version with 3 lucrative extensions to the casino. In the game, players must form a winning hand with the cards the house deals them with. They can only claim their rewards if they achieve the strongest winning hand using 5 cards. Players must learn the rankings of the cards before they begin the deals to increase their chances of winning. Three extensions of Video Poker are Tens or Better, Jacks or Better, and Bonus Poker. All players can access any version, anytime from the game board tab considering their respective house edges and payout tables. They can also use the special feature for forming their hand, called Smart Hold. 

Minesweeper 

Minesweeper’s classic popularity gets reflected in the CryptoGames version as the players are rewarded most flexibly in each round. The gamblers on board play the game effortlessly by utilizing the instant cash-out feature. The feature is only active as long as the players manage to stay away from the mines. If the instant cash-out option is activated for withdrawing a good amount, then the game ends instantly. However, if the feature is not enabled and the players fail to protect themselves from the mines, they will lose all the amounts they earn until that moment. 

DiceV2 

DiceV2 is the 9th addition to the casino games set at the casino and has a lucrative modern design. The game is also known for bringing an edgy version of the original Dice game. In DiceV2, players must correctly predict the roll’s outcome to win the reward and set the bet amount and payout multiplier, considering the winning chances. If they make a correct prediction, they will see the dice stop inside the green zone located on the slider and get compensated according to the payout multiplier they had chosen. The game has a great winning range, Progressive Jackpot, and the same house edge as the original Dice.

Keno

Keno is the 10th and most recently added game on the casino’s set of classic games. It is known to be a Lottery-like game where players pick their lucky numbers. The version of Keno at CryptoGames has a visually sleek and lightweight design that can be played from any device. The game has a field of numbers (1-40) from where players pick up to 10 numbers. If the players choose the winning numbers, then the field will show them the golden symbol on the field. And the field will show the ones they missed out on with an X symbol on the field. The game will compensate the players according to the payout multipliers corresponding to the numbers the players predicted correctly. 

CryptoGames Offered Financial Methods

To offer a consistently smooth and convenient payment system, CryptoGames enables a selection of payment methods for its players. The financial methods ensure no hassle during the transactions and are straightforward to understand and explore. At the casino, the financial methods can be accessed using the following cryptocurrencies:

· Bitcoin

· Dogecoin

· Ethereum

· Litecoin

· Dash

· Gas

· Monero

· Bitcoin Cash 

· Ethereum Classic

· Solana

Depositing, withdrawing, or exchanging cryptocurrencies at CryptoGames is open through two types of systems. All fully registered players can utilize regular and updated financial methods for their gambling start. The regular method is accessible from the “Your Account” Tab, where individual links for the options are located. When players click on each link, they can find their dedicated pages to set up the deposit and withdrawal addresses. On the advanced side, players can use their fiat currency to make deposits or exchange other cryptocurrencies through Onramper and ChangeNow, respectively. The casino also keeps many deposit alternatives available and recommends a few e-wallets in the FAQ section. 

Consistent Customer Support System

For all new and regular players, CryptoGames offers a consistent and supportive customer support team at CryptoGames, including a group of specialists, to ensure 100% customer satisfaction by answering any query or helping them with any issue. Customer support is available 24/7 to assist players with any questions. The casino’s live chat and support system instantly help the players by providing necessary guidance for their deposits, withdrawals, game rules, and even technical problems. The players also get to send customer support emails for further assistance. Additionally, n the “Contact Us” tab on the website, players can find the casino’s social media handles and links. 

User Data and Fund Protection  

CryptoGames prioritizes user data privacy and security equally for every player on board. The casino recognizes the importance of protecting every player’s information and funds by incorporating advanced security measures into the architecture. The casino offers Two-factor Authentication and SSL encryption measures to raise the level of security for all the accounts created on the website.

The casino also offers an Email verification process for all fund withdrawals so that no outsider can reach the funds without proper permission. Email verification remains active even if the Two Factor Authentication is deactivated. Moreover, since the Curacao government has licensed CryptoGames, the players can gamble in a safe and licensed environment. 

Summarizing the Review on CryptoGames

To summarize the review on CryptoGames, this section briefly brings all its components. Players can get more insight on crypto gambling at the casino’s BLOG and Forum, where the casino and all players share their tricks and tips. Among the apparent components of the casino, its service for gamblers is strongly trustworthy. The system is lightweight and easily accessible through all devices from around the world. The casino serves notable customer service where players can find the swiftest solutions for any query or any issue. The straightforward and detailed architecture makes the whole casino highly user-friendly to anyone through kind policies and special measures. All 10 games bring together the players from basically any part of the internet and globe for an unbiased gambling experience. The list of various rewarding features also maintains the quality of the entertainment every time a player logs in. By keeping up the service and bringing more plethora of entertainment, CryptoGames can become the ultimate crypto gambling corner of the web. 

 Links of interest

CryptoGames: https://crypto.games/

Forum: https://forum.crypto.games/

Facebook: https://www.facebook.com/CryptoGames/

Blog: https://blog.crypto.games/

Twitter: https://twitter.com/Crypto_Games

BitcoinTalk ANN: https://bitcointalk.org/index.php?topic=750760


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Top 5 DeFi Tokens Within the $1 Price Range to Watch in August 2022

Top 5 DeFi Tokens Within the $1 Price Range to Watch in August 2022

defi tokens nulltx

DeFi is simply an acronym for Decentralized Finance, offering financial services and tech without the need to go through a middleman of intermediaries. It brings total privacy and ownership to users. Middleman such as brokerages, banks, and exchanges are kept out in this system using smart contracts on the blockchain.

According to data from CoinMarketCap, The DeFi ecosystem is progressively recording notable growth and expansion, with its market capitalization staying above the $50 Billion threshold and a total trading volume of $4,223,659,563.

Today we will examine some handpicked DeFi tokens worth adding to your portfolio in August 2022. The list covers the Top 5 DeFi Tokens within the $1 price range. 

Note: This List is sorted by their price unit from lowest to highest.

iExec RLC (RLC)

  • Price Unit: $1.21
  • Market Cap: $98,410,730
  • Distinct Features: iExec supports the new breed of blockchain-based distributed apps through decentralized cloud infrastructure and makes high-performance, low-cost computing possible.

The foremost provider of decentralized computing powered by blockchain is iExec. Blockchain is used to set up a market network where anyone may make money off of their computing power, applications, and even datasets.

Trust, Confidentiality, and Governance are the core values it was built on. 

iExec Products: Web3 Marketplace, Oracle Factory (No coding experience necessary), Confidential Computing (Preserves data, privacy, and ownership), and iExec SDK (execute ‘off-chain’ computations via the iExec decentralized cloud)

$RLC has a 24-hour trading volume of $10,770,862, and it’s trading on top cryptocurrency exchanges like Binance, Bitget, Biconomy Exchange, KuCoin, and Bitrue.

dYdX (DYDX)

  • Price Unit: $1.53
  • Market Cap: $99,890,576
  • Distinct Features: Cryptocurrency exchange, dYdX combines decentralization, and cutting-edge financial instruments.

Launched in 2019, The layer 2 protocol of the self-titled non-custodial decentralized cryptocurrency exchange uses DYDX (dYdX) as its governance token. It helps layer 2 run more smoothly and enables traders, liquidity providers, and partners to help shape the protocol’s future as a community.

Users of dYdX automatically start earning interest once money is deposited into their accounts since their assets are added to the worldwide lending pool for each coin. 

The platform protects lenders by guaranteeing that borrowers always have enough collateral in their accounts. By using funds they already have as security for the loan, customers can borrow on dYdX and instantly purchase any asset the marketplace offers.

dYdX has a 24-hour trading volume of $38,648,014 and trading live on top cryptocurrency exchanges such as Binance, Deepcoin, OKX, Bybit, and CoinW.

Injective (INJ)

  • Price Unit: $1.52
  • Market Cap: $107,611,233
  • Distinct Features: The Platform allows access to users to build and trade a good number of DeFi markets. This enables completely decentralized trading of complex financial derivatives, futures, perpetual, and cryptocurrencies.

Access to limitless decentralized financial markets is made possible via Injective Out-of-the-box interoperable order book primitives to create mainstream DApps. Users can build any financial market on Injective’s quick, cross-chain, zero gas charge, safe, and fully decentralized exchange protocol.

Trades are completed instantly, with no waiting periods, and at no additional expense for petrol. Users of Injective can transact with several blockchain networks like Ethereum, Cosmos, and Binance Smart Chain without any issues. Additionally, Injective can facilitate exchanges across Cosmos-based projects like Terra.

According to the website, It offers an Out-of-the-box interoperable order book primitive to create mainstream DApps. Injective is run entirely by the community. Also, it’s secured by Tendermint-based proof-of-stake consensus for secure transactions with instant finality.

$INJ has a 24-hour trading volume of $9,824,242, and it’s trading on some top cryptocurrency exchanges like Binance, Bybit, CoinW, BingX, and BTCEX exchanges.

Lido DAO (LDO)

  • Price Unit: $1.62
  • Market Cap: $507,159,956
  • Distinct Features: Lido DAO offers Ethereum 2.0 users a liquid staking service that enables them to stake tokens and receive rewards without maintaining a staking infrastructure.

Lido is a liquid staking solution for Ethereum. Lido allows users to stake their ETH while engaging in on-chain activities, such as lending, to increase returns without requiring minimum deposits or infrastructure maintenance.

According to the website, some use cases for LDO as the native utility token includes :

  • Granting governance rights in the Lido DAO.
  • Managing fee parameters and distribution.
  • Governing the addition and removal of Lido node operators.

According to data from the website, Lido-supported networks include Ethereum, Polygon, Solana, Polkadot, and Kusama. Lido also lets users use their staked assets to gain yield on top of yield, according to information from the site.

$LDO is available for trading on many exchanges, like Binance, Deepcoin, Bybit, BingX, and CoinTiger, with a 24-hour trading volume of $75,153,193.

Kyber Network Crystal v2 (KNC)

  • Price Unit: $1.64
  • Market Cap: $292,404,067
  • Distinct Features: The first tool that enables instant token exchanges without using an intermediary, such as a centralized exchange, is Kyber Network.

Kyber Network is a center for liquidity protocols that aggregates liquidity from various sources to provide secure and instant transactions on any decentralized application (DApp). Decentralized exchanges (DEXs), DeFi DApps, and other users should have simple access to liquidity pools that offer the best prices, thanks to Kyber Network.

Every transaction on Kyber is on-chain, making it simple to verify them with any Ethereum block explorer. Kyber enables users to take advantage of all the features provided by the protocol, including the rapid settlement of tokens, liquidity aggregation, and a customized business model; projects can build on top of Kyber.

Kyber aims to address the lack of liquidity in the decentralized finance (DeFi) sector by enabling developers to create goods and services without worrying about anything. It is developer-friendly and allows any application to integrate instant decentralized token exchange at the best rates. According to the website, Kyber Network is governed by the community through KyberDAO, a Decentralized Autonomous Organization.

$KNC tokens can be purchased and traded on exchange platforms like Binance, Coinbase Pro, Huobi Global, and Kraken. It has a 24-hour trading volume of $43,745,016.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.


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News24.com | Brian Molefe, Anoj Singh among four people arrested in R93m locomotive corruption case

News24.com | Brian Molefe, Anoj Singh among four people arrested in R93m locomotive corruption case

Former Eskom CEO Brian Molefe appears at the State Capture Inquiry.

Former Eskom CEO Brian Molefe appears at the State Capture Inquiry.

PHOTO: Rosetta Msimango, City Press

  • Former Transnet bosses Brian Molefe and Anoj Singh made their first appearances in court on Monday.
  • Molefe and Singh, along with Niven Pillay and Litha Nyhonyha, were arrested in early morning operations.
  • They've been charged in connection with a R93-million fraud and corruption case linked to a transaction advisory deal at Transnet.

Former Transnet chief executive officer (CEO) Brian Molefe, Anoj Singh, the parastatal's former finance boss, and their co-accused were granted bail on Monday after being arrested in connection with a R93-million corruption and fraud case linked to the procurement of 1 064 locomotives in 2015.

The two former executives were joined in the dock by Niven Pillay and Litha Nyhonyha, directors at the Gupta-linked firm, Regiments Capital.

The four men were granted R50 000 bail.

The case has been postponed to 14 October.

Earlier in the morning, six other people, who had already been charged in the matter, appeared briefly in the same courtroom.

The six - another ex-Transnet group CEO, Siyabonga Gama, Regiment Capital's Eric Wood, former Transnet acting chief financial officer Garry Pita, former group treasurer Phetolo Ramosebudi, Trillian Asset Management director Daniel Roy and Kuben Moodley, owner of Albatime - previously appeared in court in May.

Wood has requested that his bail conditions be amended. He will be back in court on 7 October for the hearing.

READ | More arrests expected in corruption case against Gama and other ex-Transnet officials

The matter stems from a payment of R93 million to Trillian Capital, a Gupta-linked proxy company, to secure funding for the purchase of the locomotives.

The transaction advisory contract was initially awarded to global investment bank, JP Morgan, before the deal was cancelled. It was subsequently awarded to Trillian.

The estimated cost of the project ballooned from around R38 billion in 2012 to more than R50 billion.

In its report, the Zondo Commission recommended that the police investigate Molefe, Gama and Singh for their alleged roles in siphoning money from Transnet to the Gupta family.

A 2018 forensic report found that Molefe had misled the state-owned entity's board about its obligation to inform then-public enterprises minister Malusi Gigaba about the spike in the project's costs.

Bail applications

During their first appearance, Molefe, Singh, Pillay and Nyhonyha detailed their personal circumstances to the court as they sought to secure bail.

All four indicated that they intended to plead not guilty.

Nyhonyha told the court he was married in community of property. He also said his children had previously studied in America and Britain, but that they had since returned home. He added that he held shares in various companies.

Molefe said he didn't have any relatives outside of South Africa's borders.

His lawyer, Mpho Molefe, told the court the former Eskom CEO was married with two minor children, who relied on him for support.

He said he also supported his mother.

Molefe said he received R52 000 monthly from his pension, and he earned a R12 000 salary from his directorship at a company.

Singh's attorney, Anneline van den Heever, said he had no previous convictions and wasn't a flight risk.

Van den Heever told the court her client wouldn't interfere with the State's evidence or witnesses.



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Trudeau condemns verbal attack on Chrystia Freeland

Trudeau condemns verbal attack on Chrystia Freeland

Author of the article:

Canadian Press

Publishing date:

Aug 28, 2022  •  7 hours ago  •  3 minute read  •  23 Comments

Finance Minister and Deputy Prime Minister Chrystia Freeland looks on during a news conference before delivering the 2022-23 budget, in Ottawa, April 7, 2022.
Finance Minister and Deputy Prime Minister Chrystia Freeland looks on during a news conference before delivering the 2022-23 budget, in Ottawa, April 7, 2022. Photo by Blair Gable /REUTERS

Prime Minister Justin Trudeau called for political leaders to take a united stance against threats of violence and intimidation on Sunday, days after his deputy was confronted in Alberta by a man who repeatedly yelled profanity at her and called her a traitor.

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A video circulating online over the weekend shows Finance Minister Chrystia Freeland arriving inside City Hall in Grande Prairie, Alta., on Friday, and then being confronted by the man while she approached and entered an elevator.

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Trudeau addressed the incident during an announcement in Ottawa on funding for an action plan to support LGBTQ communities. He said what Freeland faced isn’t isolated and is being seen with increasing frequency by people in public life, particularly women and minorities.

“Threats, violence, intimidation of any kind, are always unacceptable and this kind of cowardly behavior threatens and undermines our democracy and our values and openness and respect upon which Canada was built,” Trudeau said.

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Threats, violence, and intimidation are always unacceptable. As leaders, we need to call it out. We need to take a united stance against it. And we need to work together to put an end to it. pic.twitter.com/8euL6YCzMp

— Justin Trudeau (@JustinTrudeau) August 28, 2022

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The incident has prompted current and former politicians from across the spectrum to denounce the incident and speak out against harassment faced by public figures.

My friend Deputy Prime Minister and Minister of Finance @cafreeland didn’t deserve this. No one in public office does. This needs to stop. Canada is better than this.

— Doug Ford (@fordnation) August 27, 2022

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The identity of the man in the video has been circulating widely online, but efforts by The Canadian Press to reach him have been unsuccessful so far.

An unidentified man in a white tank top was captured on video shouting obscenities at Deputy Prime Minister Chrystia Freeland as she entered an elevator at City Hall in Grande Prairie, Alta., before he was escorted out of the building.
An unidentified man in a white tank top was captured on video shouting obscenities at Deputy Prime Minister Chrystia Freeland as she entered an elevator at City Hall in Grande Prairie, Alta., before he was escorted out of the building. Photo by @canmericanized /Twitter

Trudeau characterized the confrontation as a “backlash” of a type that has been growing on social media for many years, where any time a woman speaks up on social media, she becomes subject to harassment and toxicity that reaches a point where her voice and her right to free expression are diminished.

“As leaders, we need to call this out and take a united stance against it, because no matter who you are, who you love, the colour of your skin, how you pray, where you’re from, your gender, you deserve respect,” he said. “You deserve to live in peace without fear of threats of violence.”

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Calgary Mayor Jyoti Gondek agreed what happened to Freeland isn’t isolated. In a series of Twitter posts shard on Sunday, she recounted numerous incidents in which she said she was fearful.

In one incident during a campaign in 2017, she said she got a phone call from a man who said he knew where she lived and she should “watch out.”

“He then confronted me in person at a public debate. He was about 6’2”, 200 lbs.,“ Gondek wrote.

3/I’ll explain what I mean with some experiences I have had as a candidate & political figure. During the 2017 civic election, I had a man call to tell me he knew where I lived & I should watch out. He then confronted me in person at a public debate. He was about 6’2”, 200 lbs.

— Jyoti Gondek (@JyotiGondek) August 28, 2022

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“In an open area packed with people, he loomed over me to hiss that he had made that call & he would make sure I lost the election. He then sat in the front row leering at me for the whole event.”

Gondek also said protesters came to her home in January to air grievances over public health measures related to the COVID-19 pandemic. She said they stood on her driveway, but she didn’t realize they were there until she opened the garage door, sending them scurrying to the street.

Gondek said her mother was with her at the time, adding they quickly closed the door and went back inside.

“My mum still looks out to the driveway nervously every time we have to drive somewhere,” Gondek wrote.

Grande Prairie Mayor Jackie Clayton said in a video posted online Saturday that the incident with Freeland was “a disgusting display of hatred and abuse.” She expressed gratitude for municipal staff who “calmly de-escalated the situation and acted in a highly professional manner despite the stressful circumstance.”

“The confrontation at city hall captured on video does not reflect the welcoming spirit our region is known for. We do not need to agree on every issue to treat each other with basic respect,” Clayton said.

“No one should be subjected to abusive behaviour.”

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Japan PM Vows to Push for Permanent African Seat on UNSC, Day After Announcing Major Finance Boost for Continent

Japan PM Vows to Push for Permanent African Seat on UNSC, Day After Announcing Major Finance Boost for Continent

Last Updated: August 29, 2022, 00:10 IST

Tunis, Tunisia

Japanese PM Fumio Kishida holding an online meeting with Tunisian President Kais Saied. (Image: Handout/JAPAN'S CABINET PUBLIC RELATIONS OFFICE/AFP)

Japanese PM Fumio Kishida holding an online meeting with Tunisian President Kais Saied. (Image: Handout/JAPAN'S CABINET PUBLIC RELATIONS OFFICE/AFP)

PM Fumio Kishida also said Japan will cooperate closely with African countries to promote "more resilient" economies

Japan promised it will use its place on the United Nations Security Council next year to push for a permanent African seat on the world body, Prime Minister Fumio Kishida said on Sunday. Japan will also cooperate closely with African countries to promote “more resilient” economies, he told the final session of an investment conference in Tunisia a day after announcing $30 billion in public and private finance for the continent.

Japan wants “to create an environment where African people can live in peace and security so they can develop,” Kishida said, speaking via live video from Tokyo after testing positive for Covid-19 days earlier.

Senegalese President Macky Sall, chair of the 55-member African Union, backed Kishida’s call for the continent to have a seat on the UN Security Council. Conflicts “that destabilise us and prevent us from developing must be taken into account by the Security Council” whose mission it is to promote international peace and security, Sall said.

He also called for a greater role for African peacekeepers in resolving conflicts. “Without security there can be no development,” Sall said.

The eighth Tokyo International Conference on African Development (TICAD) took place in Tunisia, one of many import-dependent countries battered by global supply disruptions and price spikes unleashed by the coronavirus pandemic and the war in Ukraine. Some 20 African heads of state and government took part in the summit in the North African nation, which brought together around 5,000 people from business and other sectors and shut down major roads across Tunis, causing weekend traffic chaos.

‘New approach’

Tunisian host President Kais Saied called for a “new approach” towards Africa, noting that many countries which had racked up large foreign debts since independence were also net exporters of human resources — taking skills gained in Africa to be used in the global North. “Who is lending to whom?” he asked.

Sall called for African debts to be rescheduled or cancelled, as well as for the implementation of a promise by the G20 group of nations to suspend interest payments. “Given the double crisis we’re facing, these measures are necessary to relaunch our economies,” he said.

The conference came as Japan’s rival China cements its influence on the continent with its “Belt and Road” infrastructure initiative, and as experts express concern about the long-term sustainability of some African nations’ borrowing from Beijing.

Kishida also announced that Japan would appoint a special envoy to the Horn of Africa, where a long and devastating drought in parts of Ethiopia, Kenya and Somalia has prompted the UN’s weather agency to warn this week of an “unprecedented humanitarian catastrophe”.

In West Africa, Kishida said Japan would pump $8.3 million into the troubled but gold-rich Liptako-Gourma tri-border area between Mali, Niger and Burkina Faso that has been ravaged by jihadist attacks in recent years. The aid will aim to “develop good cooperation between residents and local authorities” and help improve administrative services for the area’s five million residents, he said.

In a final statement, the conference participants voiced “deep concern (over) the negative socio-economic impact” of the Ukraine crisis, saying it had created food insecurity in Africa. “(We) reiterate the repeated calls for the resumption of the export of cereals, grains and agricultural products as well as fertilisers to global markets in order to relieve the African population,” the declaration read.

Read the Latest News and Breaking News here


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Ivars Azuins Was Extradited to the United States, Charged with Wire and Securities Fraud

Ivars Azuins Was Extradited to the United States, Charged with Wire and Securities Fraud

Early in 2021 the US Securities and Exchange Commission (SEC) charged Ivars Auzins (29) with fraud. According to the allegations, between November 2017 and July 2019 Auzins received more than $7 million to Auzins companies.

After receiving the funds (in cryptocurrencies), the companies disappeared without providing the services it said to deliver. On 26 August Auzins was extradited to the United States.

The United States Attorney for the Eastern District of New York Breon Peace and Michael J. Driscoll, assistant director-in-charge of the New York Field Office of the FBI made the following statement:

'Auzins perpetrated a brazen scheme in which he fleeced investors who funneled millions of dollars into fraudulent cryptocurrency.

'This Office will continue to vigorously investigate and prosecute those who lie and steal from investors, including those like the defendant who operate from abroad.'

Alexander Vinnik Extradited to the US

At the beginning of August Alexander Vinnik, the alleged operator of BTC-e was extradited from Greence to the US. Based on the allegations, Vinnik conducted business with drug dealers and ransomware hackers via the crypto exchange .

Vinnik was first arrested in Greece in 2017 due to a US warrant. Greece approved the extradition, however, as a European arrest warrant was issued, Vinnik was sent to France.

He was sentenced for 5 years for money laundering , identity theft and extortion. Upon his return to Greece he was immediately boarded on another plane to the United States.

In July the US withdrew its request to exterdite Vinnik, hoping Greece will send the Russian to them upon his return (as the extradition was already approved by the Greek court).

Russia was outranged by Greece's decision. Foreign Ministry spokesperson Maria Zakharova released the following statement:

'We are outraged by the unfriendly actions of the Greek authorities, who, under pressure from the United States, who launched a real hunt for Russian citizens in third countries under far-fetched pretexts, extradited our compatriot Alexander Vinnik to the reprisal of American punitive justice.

'In violation of Article 36 of the Vienna Convention on Consular Relations of 1963 and contrary to the official appeal of the Russian Embassy in Athens, consular officers of the diplomatic mission, his lawyer and interpreter were not allowed to visit the Russian.'

Full statement

Early in 2021 the US Securities and Exchange Commission (SEC) charged Ivars Auzins (29) with fraud. According to the allegations, between November 2017 and July 2019 Auzins received more than $7 million to Auzins companies.

After receiving the funds (in cryptocurrencies), the companies disappeared without providing the services it said to deliver. On 26 August Auzins was extradited to the United States.

The United States Attorney for the Eastern District of New York Breon Peace and Michael J. Driscoll, assistant director-in-charge of the New York Field Office of the FBI made the following statement:

'Auzins perpetrated a brazen scheme in which he fleeced investors who funneled millions of dollars into fraudulent cryptocurrency.

'This Office will continue to vigorously investigate and prosecute those who lie and steal from investors, including those like the defendant who operate from abroad.'

Alexander Vinnik Extradited to the US

At the beginning of August Alexander Vinnik, the alleged operator of BTC-e was extradited from Greence to the US. Based on the allegations, Vinnik conducted business with drug dealers and ransomware hackers via the crypto exchange .

Vinnik was first arrested in Greece in 2017 due to a US warrant. Greece approved the extradition, however, as a European arrest warrant was issued, Vinnik was sent to France.

He was sentenced for 5 years for money laundering , identity theft and extortion. Upon his return to Greece he was immediately boarded on another plane to the United States.

In July the US withdrew its request to exterdite Vinnik, hoping Greece will send the Russian to them upon his return (as the extradition was already approved by the Greek court).

Russia was outranged by Greece's decision. Foreign Ministry spokesperson Maria Zakharova released the following statement:

'We are outraged by the unfriendly actions of the Greek authorities, who, under pressure from the United States, who launched a real hunt for Russian citizens in third countries under far-fetched pretexts, extradited our compatriot Alexander Vinnik to the reprisal of American punitive justice.

'In violation of Article 36 of the Vienna Convention on Consular Relations of 1963 and contrary to the official appeal of the Russian Embassy in Athens, consular officers of the diplomatic mission, his lawyer and interpreter were not allowed to visit the Russian.'

Full statement


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Singapore’s MAS Seeks Information on Crypto Business Activities

Singapore’s MAS Seeks Information on Crypto Business Activities

The Monetary Authority of Singapore (MAS) has sent an array of questionnaires to cryptocurrency exchanges operating in the city-state asking for granular details about their business activities.

According to a Bloomberg report on Friday, the regulator is seeking information on top tokens owned by the exchanges, top counterparties for lending and borrowing, and the loaned amount. Additionally, the regulator is seeking information on top tokens staked via decentralized-finance protocols.

The regulator started to send the questionnaires last month to some applicants and holders of its digital-payments license. To date, MAS granted licenses to only over a dozen of cryptocurrency companies, while almost 200 are still on the waitlist.

Moreover, the Singapore regulator is seeking information on steps the crypto companies are taking to go live after receiving the digital payment token service license. The report outlined that the regulator is poised to better understand the risks around the industry.

“Licensees and applicants are expected to notify MAS of any events that materially impede or impair the operations of the entity, including any matter which may affect its solvency or ability to meet its financial, statutory, contractual, or other obligations ,” a MAS spokesperson told the publication.

However, the regulator did not officially reveal its dealings with individual crypto companies, citing confidentiality.

The Asian Crypto Hub

Singapore is one of the most sought jurisdictions for crypto startups after the Chinese crackdown. However, the industry was rattled by the recent collapse of multiple local crypto companies, including Three Arrows Capital, Zipmex, Hodlnaut and Vauld.

Last month, the MAS revealed the consideration of bringing more restrictions on retail cryptocurrency trading, which might limit retail participation and leverages.

Earlier this year, the city-state imposed heavy restrictions on cryptocurrency promotions that banned companies from displaying crypto ads in public spaces. These restrictions even forced crypto ATM providers to remove their machines.

The Monetary Authority of Singapore (MAS) has sent an array of questionnaires to cryptocurrency exchanges operating in the city-state asking for granular details about their business activities.

According to a Bloomberg report on Friday, the regulator is seeking information on top tokens owned by the exchanges, top counterparties for lending and borrowing, and the loaned amount. Additionally, the regulator is seeking information on top tokens staked via decentralized-finance protocols.

The regulator started to send the questionnaires last month to some applicants and holders of its digital-payments license. To date, MAS granted licenses to only over a dozen of cryptocurrency companies, while almost 200 are still on the waitlist.

Moreover, the Singapore regulator is seeking information on steps the crypto companies are taking to go live after receiving the digital payment token service license. The report outlined that the regulator is poised to better understand the risks around the industry.

“Licensees and applicants are expected to notify MAS of any events that materially impede or impair the operations of the entity, including any matter which may affect its solvency or ability to meet its financial, statutory, contractual, or other obligations ,” a MAS spokesperson told the publication.

However, the regulator did not officially reveal its dealings with individual crypto companies, citing confidentiality.

The Asian Crypto Hub

Singapore is one of the most sought jurisdictions for crypto startups after the Chinese crackdown. However, the industry was rattled by the recent collapse of multiple local crypto companies, including Three Arrows Capital, Zipmex, Hodlnaut and Vauld.

Last month, the MAS revealed the consideration of bringing more restrictions on retail cryptocurrency trading, which might limit retail participation and leverages.

Earlier this year, the city-state imposed heavy restrictions on cryptocurrency promotions that banned companies from displaying crypto ads in public spaces. These restrictions even forced crypto ATM providers to remove their machines.


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