Online brokerage TradeStation has confirmed it is planning to launch a cryptocurrency lending service. 

A United States-based subsidiary of Japan-based Monex Group, TradeStation plans to launch its ‘Crypto Earn’ lending service soon. Described as a C2B2B service, it will make loans to institutions, using assets borrowed from clients. 

Monex Group also owns major Japanese crypto exchange Coincheck, and acquired TradeStation in 2011. TradeStations’s crypto brokerage platform, TradeStation Crypto, was launched last November, and initially supported Bitcoin (BTC), Bitcoin Cash (BCH), Ether (ETH), Litecoin (LTC), and Ripple (XRP). 

AYO.NEWS says:

Though the public hype surrounding cryptocurrencies has definitely died down over the past couple of years, institutional adoption is growing rapidly, with companies in Europe, North America and Asia rolling out institutional-focused products. 

Even previously retail-focused crypto companies, like Seychelles-based Binance, are now paying more attention to institutional clients. Earlier this month, the company announced a partnership with Etana Custody to add fiat gateway support for 15 national currencies. 

‘AYO.NEWS says’ features the opinion of the author and does not necessarily reflect the views of Pentagon Digital Limited or its affiliates or associates. 

All original content featured on this site is © Pentagon Digital Limited, 2020

HEX has launched a controversial advertising push in the UK, with many expecting it to backfire spectacularly. 

Richard Heart’s ERC-20 based HEX token is no stranger to controversy, with many in the crypto community dismissing it as a scam designed to take advantage of naive newbies and wishful thinkers. 

Why? Well, one look at the adverts, which are appearing across London on the sides of buses and taxis, in British newspapers, and even behind players during English Premier League matches, will give you a clue. 

Yep. You read that right. The ads loudly proclaim: “HEX’S PRICE WENT UP 11,500% IN 129 DAYS”

#HEX 🔥 pic.twitter.com/ZtmkFQ7Kna

— hexhivist (@hexhivist) July 28, 2020

Though no one is disputing the raw fact in the claim in isolation, marketing techniques like this, along with its ‘Bank Time Deposit’ business model, referral system, and lack of white paper or roadmap, has led many to compare it to Ponzi schemes like the infamous Bitconnect. 

It’s also worth remembering that, before February 2020, HEX’s value was so negligible that hardly anyone noticed it. However, it has since rocketed and now has a market cap of over $1.5 billion (according to CoinMarketCap), a price of around $0.0061 (according to CoinGecko at time of press) and the number of exchanges supporting it has doubled from 9 to 18 since May. 

HEX wrapped taxi’s spotted in London. Real picture. pic.twitter.com/EBtkDmTb53

— HEX.com price did 116x in 129 days!🚀M⬣⬣N (@HEXcrypto) July 25, 2020

AYO.NEWS says:

As anyone who’s familiar with the UK’s extraordinarily strict Advertising Standards Authority (ASA) will know, these adverts are sure to attract an avalanche of complaints. Our guess is the tone of the ads will be deemed irresponsible and Heart and co. will be forced to withdraw them, making the whole project appear even more dubious. 

Regarding HEX itself… we’re not saying it definitely is a scam, but we would urge anyone to carefully look into what underpins the project and what, if anything, gives it any sustainable value at all, before they make any decisions. 

But hey, maybe Richard Heart really is “the smartest man in cryptocurrency?”

‘AYO.NEWS says’ features the opinion of the author and does not necessarily reflect the views of Pentagon Digital Limited or its affiliates or associates. 

All original content featured on this site is © Pentagon Digital Limited, 2020

Swiss SIX, one of the world’s major stock exchanges, has listed the world’s first actively managed Bitcoin ETP. 

The new ‘Bitcoin Capital Active ETP’ is an actively managed crypto ETP, trading Bitcoin (BTC) against 14 of the most popular altcoins, including Ether (ETH), and exiting to fiat. The coins selected for trading all have their own blockchains, high market capitalization, large liquidity pools, and exclude privacy coins.

Registered by Zug-based cryptocurrency investment management firm FiCAS, and issued by Bitcoin Capital AG, the new ETP is now listed on SIX Exchange under the index BTCA. 

Crucially, the ETP doesn’t require active involvement on the part of investors, making it a convenient option for many investors, and similar to traditional discretionary portfolio management. 

Discussing the new product founder of FiCAS, Ali Mizani Oskui, explained:

“Devising the world’s first actively managed Crypto ETP marks an important milestone in our effort to deliver enhanced market returns for our clients over time. Based on our in-depth trading and analytical experience, actively managing our underlyings allows us to preempt and react to market movements through the discretionary buying and selling of crypto assets to steer risk-adjusted returns. 

“Personally, I have built my expertise in crypto trading since 2013, with a strong track record in outperforming the market. I look forward to bringing my trading experience to global and institutional markets with this pioneering product.”

Unlike crypto ETF’s, crypto ETP’s are 100% backed by the assets they track. Investors can purchase the Bitcoin Capital Active ETP similar to buying shares on the secondary market, through any broker or financial advisor with access to the Swiss Stock Exchange. 

Swiss SIX Exchange listed the world’s first crypto ETP, Amun’s Crypto Basket ETP (HODL) towards the end of 2018, and now offers investors several such products, including several backed by crypto asset manager 21Shares. 

AYO.NEWS says:

An actively managed cryptocurrency exchange traded product like this should make crypto more attractive to a whole range of new investors, who want to tap into the potential of digital assets, minus the hassle. We’re sure it will be the first of many similar products to launch over the coming months. 

Staying with Bitcoin’s investment potential, earlier today we reported that Nigel Green, founder and CEO of financial consultancy firm deVere has said increasing global instability, particularly rising US-China tensions, could help Bitcoin “knock gold from its long-held position.” 

‘AYO.NEWS says’ features the opinion of the author and does not necessarily reflect the views of Pentagon Digital Limited or its affiliates or associates. 

All original content featured on this site is © Pentagon Digital Limited, 2020

CEO and founder of financial consultancy firm deVere Group, Nigel Green, has said Bitcoin (BTC) could be poised to replace gold as the ultimate safe haven asset. 

In a 27 July statement on the deVere Group’s website, Green pointed to increasing global instability, like the growing tensions between the US and China, as a force pushing investors towards “decentralized, non-sovereign, secure digital currencies”. 

Green observed:

“Bitcoin is currently realising its reputation as a form of digital gold. Up to now, gold has been known as the ultimate safe-haven asset, but Bitcoin  – which shares its key characteristics of being a store of value and scarcity – could potentially knock gold from its long-held position in the future as the world becomes ever-more tech-driven.”

Las week Washington closed China’s consulate in Houston, Texas, with Beijing retaliating by closing the US consulate in Chengdu. Meanwhile large naval exercises and drills are being conducted in the seas around Taiwan, further fuelling tensions, and more forces from the US and its allies, including the UK, are being deployed to the region. 

News of another massive $1 trillion COVID-19 stimulus bill in the US is also driving investors to traditional safe haven assets, with gold reaching a new record intraday high of $1,975 per ounce.

Green’s comments came after BTC broke the $10K USD mark on 26 July. At the time of writing BTC was nearing $11K.

AYO.NEWS says:

The COVID-19 crisis and Chinese crisis are inextricably linked, with many openly accusing China of deliberately unleashing a bioweapon on the world in a bid to weaken the country’s competitors. Whether there’s any truth to that or not, the world is definitely entering the greatest period of instability since the 1930’s. 

At the start of the crisis, there were plenty of predictions of Bitcoin exploding as investors rushed to digital safety in the face of a swift economic collapse. Of course, in reality, governments have managed to avert a total economic collapse through extreme spending and furloughs. This illusion of continued partial normality may have dissuaded many from going full-in on BTC. 

But, and here’s the kicker, almost everyone assumed the crisis would be largely over by now. But, it’s not over, by a longshot. There is no vaccine, the global rate of infection is still accelerating, the virus itself is becoming more contagious, and even countries which thought they had things under control are now relapsing as a second wave hits. 

Furthermore, the world’s governments have pretty much already expended their ammunition fighting the first wave. Where will they find money to pay furloughed staff and prop up businesses if there are more lockdowns? 

Will the realisation that the crisis is likely to get a whole lot worse, and could well utterly destroy the traditional economy, coupled with the possibility of a US-China war, and spreading unrest in the US itself, finally convince investors to jump fully into decentralised digital assets?

We’re about to find out…

‘AYO.NEWS says’ features the opinion of the author and does not necessarily reflect the views of Pentagon Digital Limited or its affiliates or associates. 

All original content featured on this site is © Pentagon Digital Limited, 2020

Singapore-based Limestone Network is aiming to revolutionise urban living, by providing a complete blockchain solution for smart cities. 

According to the company, its blockchain-based solution differs from more traditional smart city developments, which collect data through hardware like sensors and cameras, because it collects data while protecting peoples’ privacy. 

Cambodian pilot project

A 100-hectare pilot project in Phnom Penh, the capital of Cambodia, has 10,000 tenants and a daily population of 190,000. Limestone Network says this new central business district “brings together a highly inclusive ecosystem informed by data collected via residents’ daily touchpoints.” 

The system combines data from a myriad of sources to provide an in-depth picture of the city, including road traffic, power and water consumption, resident movements and more. 

Set for completion in 2022, the Cambodian pilot project will also be integrating third-party partners including ride-hailing apps, telecommunications companies, and financial institutions. 

Empowering those at the bottom of the pyramid

Limestone Network’s system sees people issued with a digital passport via a mobile app. After screening and verification, the app gives them access to digital payments, building access, applications for services like microloans, and more. 

A permission-based network, it gives people the ability to manage consent for their data and usage, and enables service providers and merchants to verify consumers’ identities via private smart contracts. This removes the need for third parties, like agencies, and results in reduced costs.

Discussing the system Co-founder and Managing Partner of Limestone Network, Eddie Lee, said:

“The beauty of blockchain is the ability to give power back to consumers. The smart city should not only be about cutting-edge technologies. It should be inclusive – beginning with people at the bottom of the pyramid.”

Limestone Network’s closed loop virtual currency, LIMEX, is set to be listed on the Bitrue cryptocurrency exchange, tradeable with USDT. 

AYO.NEWS says:

So far we’ve seen many blockchain-based solutions focus on individual elements of urban life, whether it be public transport or retail spending, but Limestone Network’s complete integration makes it one to watch. 

‘AYO.NEWS says’ features the opinion of the author and does not necessarily reflect the views of Pentagon Digital Limited or its affiliates or associates. 

All original content featured on this site is © Pentagon Digital Limited, 2020

Yet another high-profile YouTube account has been hacked by Bitcoin (BTC) scammers, as social media giants come under increasing pressure to act. 

Indian YouTuber Ajey Nagar, who has over 6.7 million subscribers, was the latest victim of the ongoing “Bitcoin giveaway” scam, when his second channel, CarryisLive, which features Ajey playing video games with other YouTubers and celebrities, got hacked. 

By 25 July, Ajey’s channel was back under his control, and he thanked YouTube for its quick reaction to the hijacking, but the attack has again focused attention on the growing problem of social media hacking, often to try and scam crypto out of people. 

In June scammers pretended to be Elon Musk and SpaceX, hijacking genuine accounts and rebranding them to look like the real SpaceX channel, and used archived footage of Musk to fake a live event. And, just last week, Apple co-founder Steve Wozniak and 17 others launched legal action against YouTube over the company’s failure to tackle a similar scam using Wozniak’s images. 

It’s not just YouTube being targeted by Bitcoin scammers either. Two weeks ago Twitter suffered an unprecedented security breach, with hackers taking over many high-profile accounts of celebrities, politicians, and corporations. 

My channel is now back with me! I don’t know who did it & why but thanks to youtube for their immediate support.

— Ajey Nagar (@CarryMinati) July 25, 2020

AYO.NEWS says:

We have to accept that it’s probably going to be impossible to stop hackers completely, but it’s clear, especially in the Wozniak, case that social media companies can’t rely on automated algorithms for policing their sites, and desperately need to reinvest in real, trained staff. 

But, critically, there also needs to be better education covering both cryptocurrency and general financial and security literacy. After all, the fact that people are believing they will get a big return, simply for sending crypto to an address, suggests there’s a worrying level of ignorance out there. 

‘AYO.NEWS says’ features the opinion of the author and does not necessarily reflect the views of Pentagon Digital Limited or its affiliates or associates. 

All original content featured on this site is © Pentagon Digital Limited, 2020