After the offices of crypto lender Nexo were raided in Bulgaria, the digital currency lending platform experienced a significant amount of withdrawals starting Jan. 12, 2023. An archived snapshot of Nexo’s real-time attestation shows that the company held 133,263 bitcoin on that day. As of Jan. 13, 2023, Nexo’s attestation indicates that the company now holds 124,939 bitcoin, with $157.21 million worth of bitcoin having been withdrawn during the past 24 hours.
Last year, a number of exchanges experienced withdrawal stress tests, and after Nexo‘s office raid on Thursday, the crypto lender is dealing with similar issues. Reports on Jan. 12, 2023, disclosed that Nexo is under investigation by Bulgaria’s attorney general and roughly 300 investigators from various agencies. The company is accused of violating tax requirements, participating in money laundering, and bypassing financial sanctions associated with the Russian Federation.
Nexo has denied any wrongdoing and immediately issued a statement on Twitter to the community that the company adheres to “very stringent anti-money laundering and know-your-customer policies.” Following the incident, the company has seen a flurry of withdrawals according to its real-time attestation website. For example, on Jan. 3, 2023, Nexo held around 134,203 bitcoin, valued at $2.5 billion using current BTC exchange rates. By Jan. 12, 2023, the crypto lender’s BTC stash had decreased to 133,263 bitcoin.
Twenty-four hours later, on Friday, Jan. 13, 2023, Nexo’s BTC stash had decreased by 8,324 BTC to the current level of 124,939 BTC. This means that using current BTC exchange rates, $157.21 million was withdrawn from Nexo’s cache of bitcoin. Nexo’s withdrawals follow a number of other exchanges that have experienced large withdrawals in a short period of time. After the collapse of FTX, users withdrew a significant amount of digital assets from exchanges such as Binance, Kucoin, and Crypto.com.
It is unclear what will happen with the case against Nexo in Bulgaria, but with the rate of withdrawals over the past day, it appears customers are concerned. When speaking with The Block’s reporter Yogita Khatri, Nexo’s co-founder Antoni Trenchev said the withdrawals represented only 2% of the company’s assets under management (AUM). “Nexo can confirm that all systems are up and running and everything is being processed in real-time as always,” Trenchev told Khatri on Friday. “Activity is orders of magnitude smaller than post-Celsius and post-FTX,” the Nexo executive added.
What are your thoughts on the recent withdrawals from Nexo and the ongoing investigation in Bulgaria? Share your opinions in the comments below.
Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about the disruptive protocols emerging today.
Image Credits: Shutterstock, Pixabay, Wiki Commons, Editorial photo credit: FellowNeko / Shutterstock.com
Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.
Tony Hawk's Latest NFTs to Come With Signed Physical Skateboards
Last December, the renowned professional skateboarder Tony Hawk released his “Last Trick” non-fungible token (NFT) collection via the NFT marketplace Autograph. Next week, Hawk will be auctioning the skateboards he used during his last tricks, and each of the NFTs ... read more.
After the offices of crypto lender Nexo were raided in Bulgaria, the digital currency lending platform experienced a significant amount of withdrawals starting Jan. 12, 2023. An archived snapshot of Nexo’s real-time attestation shows that the company held 133,263 bitcoin on that day. As of Jan. 13, 2023, Nexo’s attestation indicates that the company now holds 124,939 bitcoin, with $157.21 million worth of bitcoin having been withdrawn during the past 24 hours.
Last year, a number of exchanges experienced withdrawal stress tests, and after Nexo‘s office raid on Thursday, the crypto lender is dealing with similar issues. Reports on Jan. 12, 2023, disclosed that Nexo is under investigation by Bulgaria’s attorney general and roughly 300 investigators from various agencies. The company is accused of violating tax requirements, participating in money laundering, and bypassing financial sanctions associated with the Russian Federation.
Nexo has denied any wrongdoing and immediately issued a statement on Twitter to the community that the company adheres to “very stringent anti-money laundering and know-your-customer policies.” Following the incident, the company has seen a flurry of withdrawals according to its real-time attestation website. For example, on Jan. 3, 2023, Nexo held around 134,203 bitcoin, valued at $2.5 billion using current BTC exchange rates. By Jan. 12, 2023, the crypto lender’s BTC stash had decreased to 133,263 bitcoin.
Twenty-four hours later, on Friday, Jan. 13, 2023, Nexo’s BTC stash had decreased by 8,324 BTC to the current level of 124,939 BTC. This means that using current BTC exchange rates, $157.21 million was withdrawn from Nexo’s cache of bitcoin. Nexo’s withdrawals follow a number of other exchanges that have experienced large withdrawals in a short period of time. After the collapse of FTX, users withdrew a significant amount of digital assets from exchanges such as Binance, Kucoin, and Crypto.com.
It is unclear what will happen with the case against Nexo in Bulgaria, but with the rate of withdrawals over the past day, it appears customers are concerned. When speaking with The Block’s reporter Yogita Khatri, Nexo’s co-founder Antoni Trenchev said the withdrawals represented only 2% of the company’s assets under management (AUM). “Nexo can confirm that all systems are up and running and everything is being processed in real-time as always,” Trenchev told Khatri on Friday. “Activity is orders of magnitude smaller than post-Celsius and post-FTX,” the Nexo executive added.
What are your thoughts on the recent withdrawals from Nexo and the ongoing investigation in Bulgaria? Share your opinions in the comments below.
Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 6,000 articles for Bitcoin.com News about the disruptive protocols emerging today.
Image Credits: Shutterstock, Pixabay, Wiki Commons, Editorial photo credit: FellowNeko / Shutterstock.com
Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.
Tony Hawk's Latest NFTs to Come With Signed Physical Skateboards
Last December, the renowned professional skateboarder Tony Hawk released his “Last Trick” non-fungible token (NFT) collection via the NFT marketplace Autograph. Next week, Hawk will be auctioning the skateboards he used during his last tricks, and each of the NFTs ... read more.
Shiba inu was one of Friday’s biggest gainers, as the meme coin raced to a six-week high. The move came as the global cryptocurrency market cap surged, as U.S. inflationary pressures continued to cool off. Ethereum classic was also in the green, with price hitting a two-month high.
Shiba inu (SHIB) was one of Friday’s notable movers, as the meme coin moved to a six-week high.
Following a low of $0.000009227 on Thursday, SHIB/USD raced to an intraday peak of $0.000009711 earlier in today’s session.
As a result of today’s surge, the meme coin hit its highest point since December 5, when it traded as high as $0.00001016.
Looking at the chart, the move came as shiba inu climbed beyond a ceiling at the $0.00000945 mark.
In addition to this, the 14-day relative strength index (RSI) moved past a ceiling of its own at 68.00.
As of writing, the index is tracking at 71.74, which is deep in overbought territory.
Ethereum classic (ETC) was another big gainer in today’s session, with prices moving closer to a two-month high.
ETC/USD rose to a high of $21.76 earlier in the day, less than 24 hours after hitting a bottom at $20.02.
This move pushed the token to its strongest level since November 10, when ETC hit a resistance of $23.00.
As can be seen from the chart, bulls appear to be attempting to take ethereum classic back to this point, if recent bullish momentum can be sustained.
This will likely be made difficult by a resistance level of 67.00 on the RSI, which hasn’t been broken since last August.
Register your email here to get weekly price analysis updates sent to your inbox:
Do you expect to see ethereum classic hit $23.00 in the coming days? Let us know your thoughts in the comments.
Eliman brings an eclectic point of view to market analysis. He was previously a brokerage director and online trading educator. Currently, he acts as a commentator across various asset classes, including Crypto, Stocks and FX, whilst also a startup founder.
Image Credits: Shutterstock, Pixabay, Wiki Commons
Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.
Fidelity Investments Launches Crypto, Metaverse ETFs — Says 'We Continue to See Demand'
Fidelity Investments, one of the largest financial services firms with more than $11 trillion under administration, is launching exchange-traded funds (ETFs) focusing on the crypto ecosystem and the metaverse. "We continue to see demand, particularly from young investors, for access ... read more.
Shiba inu was one of Friday’s biggest gainers, as the meme coin raced to a six-week high. The move came as the global cryptocurrency market cap surged, as U.S. inflationary pressures continued to cool off. Ethereum classic was also in the green, with price hitting a two-month high.
Shiba inu (SHIB) was one of Friday’s notable movers, as the meme coin moved to a six-week high.
Following a low of $0.000009227 on Thursday, SHIB/USD raced to an intraday peak of $0.000009711 earlier in today’s session.
As a result of today’s surge, the meme coin hit its highest point since December 5, when it traded as high as $0.00001016.
Looking at the chart, the move came as shiba inu climbed beyond a ceiling at the $0.00000945 mark.
In addition to this, the 14-day relative strength index (RSI) moved past a ceiling of its own at 68.00.
As of writing, the index is tracking at 71.74, which is deep in overbought territory.
Ethereum classic (ETC) was another big gainer in today’s session, with prices moving closer to a two-month high.
ETC/USD rose to a high of $21.76 earlier in the day, less than 24 hours after hitting a bottom at $20.02.
This move pushed the token to its strongest level since November 10, when ETC hit a resistance of $23.00.
As can be seen from the chart, bulls appear to be attempting to take ethereum classic back to this point, if recent bullish momentum can be sustained.
This will likely be made difficult by a resistance level of 67.00 on the RSI, which hasn’t been broken since last August.
Register your email here to get weekly price analysis updates sent to your inbox:
Do you expect to see ethereum classic hit $23.00 in the coming days? Let us know your thoughts in the comments.
Eliman brings an eclectic point of view to market analysis. He was previously a brokerage director and online trading educator. Currently, he acts as a commentator across various asset classes, including Crypto, Stocks and FX, whilst also a startup founder.
Image Credits: Shutterstock, Pixabay, Wiki Commons
Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.
Fidelity Investments Launches Crypto, Metaverse ETFs — Says 'We Continue to See Demand'
Fidelity Investments, one of the largest financial services firms with more than $11 trillion under administration, is launching exchange-traded funds (ETFs) focusing on the crypto ecosystem and the metaverse. "We continue to see demand, particularly from young investors, for access ... read more.
PRESS RELEASE. Singapore, 12 January 2023: Fiat-crypto payment gateway Alchemy Pay and its co-founder and majority shareholder, Shawn Shi, have been officially recognised by Forbes with the Web3 Innovation Pioneer award on 11 January. The Singapore-based payment solutions provider has a major research and development hub across Asia that has pioneered new payment systems at the very edge of modern fintech – convenient payments that seamlessly enable the movement of funds between traditional fiat currency and cryptocurrency.
After its establishment in 2018, Alchemy Pay became Southeast Asia’s number one crypto payment system. 2022 saw Alchemy Pay move to d2c solutions for the first time. Its on and off-ramp and NFT checkout were all launched in Q3 and Q4 last year. The constant upgrades and innovations since the initial launch have created a full suite of offerings that satisfy newcomers and surprise crypto natives. Platforms across the Web3 space, from large-scale exchanges to small, specialised token issuers and dApps, have integrated the ramp services (plugin or API).
The Forbes award recognises the company’s pioneering achievements in fintech/crypto. Forbes picked out entrepreneurs, investors, and contributors to open source projects and crypto ecosystems which have made significant contributions to the development of Web3, saying they were “aiming to find cases of value creation by innovative companies in the Web 3.0 field, and to show how the current Web 3.0 wave is shaping a higher level of autonomy.”
Shawn Shi commented: “It is great to receive industry recognition for our work in the payment space. The scope of possibility is wide open, and our team is always pushing the boundaries. We have repeatedly proven that any payment scenario with any customisation is possible. I’m very proud of our team, and 2023 will continue to expand our vision.”
Alchemy Pay ended the year by integrating with Arbitrum, the world’s largest Ethereum scaling layer 2, going live with Apple Pay, and becoming an official service provider by Visa. Its success comes from its team’s significant working knowledge of legacy finance and blockchain technology. The ramp’s foundation is a network of payment processors, acquirers, exchanges, dApp devs and blockchains. This has been no small task; the team has a wealth of talent and expertise and managed to avoid any direct contagion from the recent fallout and scandals of the crypto market.
Alchemy Pay supports Mastercard and Visa in 173 countries and large-scale banking systems such as SEPA in Europe. Where the team has been at the forefront of invention, though, is in its peerless coverage in emerging markets such as SEA and Latin America. Locally based mobile wallets have become a huge part of the payment market in these emerging markets, and Alchemy Pay enables users to buy and sell crypto using them. The result is that crypto platforms and services can access unreachable markets worldwide.
Shawn Shi stated his thoughts for the coming year: “In 2023, there will be no stopping us. This year will see our app launch, which will be a one-stop shop for users who want to feel the full power and scope of what Web3 and crypto can offer. We are building for the long term.”
Follow Alchemy Pay
Website：https://alchemypay.org/
Twitter：https://twitter.com/alchemypay
LinkedIn：https://www.linkedin.com/company/alchemypay/
Medium：https://alchemypay.medium.com/
YouTube：https://www.youtube.com/c/AlchemyPay
This is a press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.
Bitcoin.com is the premier source for everything crypto-related. Contact the Media team on ads@bitcoin.com to talk about press releases, sponsored posts, podcasts and other options.
Image Credits: Shutterstock, Pixabay, Wiki Commons
Central Bank of Brazil Confirms It Will Run a Pilot Test for Its CBDC This Year
The Central Bank of Brazil has confirmed that the institution will run a pilot test regarding the implementation of its proposed central bank digital currency (CBDC), the digital real. Roberto Campos Neto, president of the bank, also stated that this ... read more.
PRESS RELEASE. Singapore, 12 January 2023: Fiat-crypto payment gateway Alchemy Pay and its co-founder and majority shareholder, Shawn Shi, have been officially recognised by Forbes with the Web3 Innovation Pioneer award on 11 January. The Singapore-based payment solutions provider has a major research and development hub across Asia that has pioneered new payment systems at the very edge of modern fintech – convenient payments that seamlessly enable the movement of funds between traditional fiat currency and cryptocurrency.
After its establishment in 2018, Alchemy Pay became Southeast Asia’s number one crypto payment system. 2022 saw Alchemy Pay move to d2c solutions for the first time. Its on and off-ramp and NFT checkout were all launched in Q3 and Q4 last year. The constant upgrades and innovations since the initial launch have created a full suite of offerings that satisfy newcomers and surprise crypto natives. Platforms across the Web3 space, from large-scale exchanges to small, specialised token issuers and dApps, have integrated the ramp services (plugin or API).
The Forbes award recognises the company’s pioneering achievements in fintech/crypto. Forbes picked out entrepreneurs, investors, and contributors to open source projects and crypto ecosystems which have made significant contributions to the development of Web3, saying they were “aiming to find cases of value creation by innovative companies in the Web 3.0 field, and to show how the current Web 3.0 wave is shaping a higher level of autonomy.”
Shawn Shi commented: “It is great to receive industry recognition for our work in the payment space. The scope of possibility is wide open, and our team is always pushing the boundaries. We have repeatedly proven that any payment scenario with any customisation is possible. I’m very proud of our team, and 2023 will continue to expand our vision.”
Alchemy Pay ended the year by integrating with Arbitrum, the world’s largest Ethereum scaling layer 2, going live with Apple Pay, and becoming an official service provider by Visa. Its success comes from its team’s significant working knowledge of legacy finance and blockchain technology. The ramp’s foundation is a network of payment processors, acquirers, exchanges, dApp devs and blockchains. This has been no small task; the team has a wealth of talent and expertise and managed to avoid any direct contagion from the recent fallout and scandals of the crypto market.
Alchemy Pay supports Mastercard and Visa in 173 countries and large-scale banking systems such as SEPA in Europe. Where the team has been at the forefront of invention, though, is in its peerless coverage in emerging markets such as SEA and Latin America. Locally based mobile wallets have become a huge part of the payment market in these emerging markets, and Alchemy Pay enables users to buy and sell crypto using them. The result is that crypto platforms and services can access unreachable markets worldwide.
Shawn Shi stated his thoughts for the coming year: “In 2023, there will be no stopping us. This year will see our app launch, which will be a one-stop shop for users who want to feel the full power and scope of what Web3 and crypto can offer. We are building for the long term.”
Follow Alchemy Pay
Website：https://alchemypay.org/
Twitter：https://twitter.com/alchemypay
LinkedIn：https://www.linkedin.com/company/alchemypay/
Medium：https://alchemypay.medium.com/
YouTube：https://www.youtube.com/c/AlchemyPay
This is a press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.
Bitcoin.com is the premier source for everything crypto-related. Contact the Media team on ads@bitcoin.com to talk about press releases, sponsored posts, podcasts and other options.
Image Credits: Shutterstock, Pixabay, Wiki Commons
Draft Law Regulating Aspects of Crypto Taxation Submitted to Russian Parliament
A bill updating Russia’s tax law to incorporate provisions pertaining to cryptocurrencies has been filed with the State Duma, the lower house of parliament. The legislation is tailored to regulate the taxation of sales and profits in the country’s market ... read more.
PRESS RELEASE. Singapore – Blockchain-based climate tech company – YES WORLD Climate Tech Pte Ltd reaches a milestone of 2 million transactions for its ecosystem’s native crypto token – YES WORLD Token (Symbol: $YES).
Launched in the spring of 2022, the count of 2 million transactions by its explorer – BSCScan, shows that YES WORLD Token is getting excellent adoption among crypto enthusiasts. YES WORLD is a leading utility token with token usability available across several verticals – Gaming, Travel, NFT Marketplace, Health & Fitness, Financial Services, and wide acceptance among e-commerce and brick-and-mortar stores.
YES WORLD launched a global utility services portal available in over 80 countries last month. The spike in transactions shows that the users have cheered the option to use YES TOKEN for their regular purchases and hold the token for capital gains. Based on CoinMarketCap data, YES WORLD has already generated three-digit returns for early adopters still holding the crypto token in their portfolios.
YES WORLD Token offers a variety of utility services for its subscribers through internet portals and brick-and-mortar establishments. At a physical store, users can pay with YES WORLD Token by simply scanning the bar code presented at the checkout on the POS Terminal device. As per the information, the integration work is underway to onboard leading e-commerce players. In addition, users will soon be able to make purchases online using $YES as a payment mode.
YES WORLD Token is trading on several leading centralized exchanges, including XT.com and Coinsbit.io, as well as on a decentralized exchange – PancakeSwap. YES WORLD plans to be listed on over 50 leading crypto exchanges before its global launch. Also, as a leading utility token, YES WORLD plans to onboard 10 million merchants worldwide by the global launch event scheduled in April 2024.
YES WORLD Token is operated by YES WORLD Climate Tech Pte Ltd, based out of Singapore. It is a climate tech blockchain-based company that works on green technology to reduce carbon footprint. $YES is the native token for YES WORLD’s Save Earth mission and utility ecosystem. It is conceptualized to generate awareness around the global warming challenges to bring to critical mass to join the mission and take steps to reduce carbon footprints from the atmosphere.
Last week, YES WORLD launched a physical product range of specalized glass for windows and the facade. The specialized glass solution that the company calls – Energy Efficient Window Solution has a layer of a patented material that reflects 85% solar radiant heat as well as blocks 92% of UV rays from entering the building. The energy-efficient glass is a see-through windows solution that blocks most solar heat from entering the building and significantly reduces the energy consumption in terms of HVAC load.
YES WORLD is conceptualized and promoted by Save Earth activist Dr Sandeep Choudhary, who has constantly been working to generate awareness of global warming and climate change impacts. Under Dr Choudhary’s vision and leadership, YES WORLD has championed a noble cause of reducing carbon footprint and bringing forth the issue of global warming and climate change.
Important links:
Twitter – https://twitter.com/yesworld24
CMC – https://coinmarketcap.com/currencies/yes-world-token/
Website – www.yesworld.io
This is a press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.
Bitcoin.com is the premier source for everything crypto-related. Contact the Media team on ads@bitcoin.com to talk about press releases, sponsored posts, podcasts and other options.
Image Credits: Shutterstock, Pixabay, Wiki Commons
Ripple CEO: SEC Lawsuit Over XRP 'Has Gone Exceedingly Well'
The CEO of Ripple Labs says that the lawsuit brought by the U.S. Securities and Exchange Commission (SEC) against him and his company over XRP "has gone exceedingly well." He stressed: "This case is important, not just for Ripple, it’s ... read more.
Source From : News