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Robinhood Enables Polygon (Matic) Deposits, And Withdrawals

Albert Brown
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Robinhood Enables Polygon (Matic) Deposits, And Withdrawals

 

It’s good news for Robinhood users as Matic deposits and withdrawals come to Robinhood.



Robinhood announced that it would be collaborating with Polygon. Polygon is the parent company that created Matic. Polygon was formerly called The Matic Network – before the renaming.

The announced deal states that the MATIC ERC-20 deposits and withdrawals will be supported on the Robinhood trading platform.

 

Users To Benefit

The support makes it possible for all qualified users of the Robinhood app who have access to the WebWallets functionalities on the waitlist can now send and receive any Matic that is currently listed on the app.

According to the Robinhood website, users who are eligible to access withdrawal and deposit facilities also enjoy free trading, unlike other exchanges that charge trading fees. Robinhood rids on the idea of democratizing finances for everyone across the world.

Please remember that While the deal is great, it doesn’t cover the listing of the Matic crypto coin on Robinhood as the exchange already listed Matic on April 12th, 2022 for one, Robinhood serves millions of users.

Co-founder of Polygon says the team “will continue to build the infrastructure for mass adoption of Polygon and Ethereum.”

Matic Already Winning

The announcement of the deal between Polygon and Robinhood is already making waves in the crypto markets. At the time of this writing, Matic/Polygon is already up by around 5%. The coin is currently worth around $0.54, with a market cap of around $4.3 billion and a trading volume of over half a billion.

Attorney Jeremy Hogan: Using Ripple’s XRPL For Columbia’s Land Registry Is the Perfect Example of Crypto Utility 

Lele Jima
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Attorney Jeremy Hogan: Using Ripple’s XRPL For Columbia’s Land Registry Is the Perfect Example of Crypto Utility 

Attorney Jeremy Hogan has applauded Ripple’s XRPL use in developing a land registry solution for Columbia as a way to showcase crypto utility.   



Following the launch of Columbia’s first national land registry on the XRP Ledger (XRPL), attorney Jeremy Hogan, a partner at Hogan & Hogan law firm, has commended the move, saying it goes to portray the utility of cryptocurrencies.  

The attorney, who has been vocal about the ongoing Ripple v. SEC lawsuit, said using XRPL for Columbia’s land registry might sound boring to many. Still, the initiative is a “perfect example of crypto utility.” 

“An immutable (I love this word for some reason) record of land registration, timestamped, searchable, and inherently trustworthy – it’s the perfect use case for a blockchain ledger,” attorney Hogan said. 

Ripple Partners Peersyst Technology to Launch Columbia’s National Land Registry

Recall that Ripple, alongside a team of blockchain developers from Peersyst Technology, partnered on an initiative to launch the first-ever XRPL-based national land registry solution, which will address all land registry issues in Columbia. 

To earn Columbians’ trust and confidence in the service, the country’s National Land Agency, AgenciaTierras, has disclosed that it will be registering over 100,000 adjudications soon. 

Hogan Explains the Importance of the Solution

Attorney Hogan explained the significance of the newly-launched solution, detailing the difficulty in transferring land ownership using the traditional system. 

“Ponder how the transfer of land is accomplished. The purchaser/buyer must be noted, what title is being transferred, and the actual property being conveyed must be described,” he said. 

Attorney Hogan, a famous Ripple enthusiast, added that all information related to land transfers must be stored in a searchable manner by the local government, which is a complex procedure. 

He said any slight error made during the process is capable of leading to years of litigation, adding: 

“To make things even more difficult, governments make laws that limit/restrict the transfer of land and also impose taxes on property – making 1000% accurate registration all the more important.” 

However, the recently-launched land registry solution will address all these problems. 

Tron DAO Reports Over $2.2 Billion in Reserves, A Guarantee For USDD

Mark Brennan
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Tron DAO Reports Over $2.2 Billion in Reserves, A Guarantee For USDD

 

Over $2.2 billion in reserves, a guarantee for 723 million $USDD, have been disclosed by Tron DAO.


 

Tron Dao’s $2.2B reserves show that Justin Sun Dao is in a solid position to avoid the USDD depeging.

Between June 13 and June 27, Tron’s stablecoin USDD fell lower than the $1 parity and dipped to a low of $0.928 per unit on June 19. Over the previous week, the USDD exchange rate has climbed to the range between $0.98 and $0.99, hitting $1 on July 3.

However, the value of the USDD’s fiat currency dropped to an all-time low of $0.964 per unit between June 13 and June 15. At that time, the Tron Reserve DAO kept buying USDD to avoid de-pegging. During the same period, the value of Bitcoin (BTC) and a number of other leading cryptocurrencies fell significantly.

The crypto sector had a tremor on June 18, and Bitcoin reached a low price of $17,593 per unit. The price of one unit of Tron’s stablecoin USDD reached an all-time low the next day, falling to $0.928.

After eight days, on June 27, USDD managed to go back to the range of $0.98 to $0.99, and it has been trading at that price ever since, with the exception of a brief rise to $1 per unit on July 3. When the stablecoin was trading at a rate below its regular level for two weeks, the TRON DAO Reserve continued to provide further collateral to the project. At the time of writing, USDD is worth $0.9922, down 0.07% in the past 24 hours.

US Officials Owning Crypto Banned From Working On Crypto Regulations

Mark Brennan
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US Officials Owning Crypto Banned From Working On Crypto Regulations

 

The United States prohibits government officials who own cryptocurrency from working on crypto regulations.



Government workers who are actively investing in cryptocurrencies or are discovered to own any digital assets will be prohibited from participating in the development of rules and policies regarding cryptocurrencies, according to a recent directive issued by the United States Office of Government Ethics (OGE).

“As a result, an employee who holds any amount of a cryptocurrency or stablecoin may not participate in a particular matter if the employee knows that particular matter could have a direct and predictable effect on the value of their cryptocurrency or stablecoins.”

The directive further emphasized that this ruling continues to apply even in the event that the cryptocurrency or stablecoin in issue were to ever be deemed to represent security for the objectives of the federal or state regulatory requirements.

Government officials are still permitted to acquire cryptocurrencies; but, doing so will prevent them from contributing to the development of crypto-related regulations.

The ability to work on the crypto-related policy will still be available to federal workers who have less than $50,000 invested in a mutual fund with exposure to the cryptocurrency industry.

The United States continues to move ahead in integrating the cryptocurrency business, with Vice President Joe Biden outlining a whole-of-government approach to regulation addressing the virtual currency sector. This is despite the laws seeming to be severe with regard to employee investments in the crypto industry.

Raymond Shu, the co-founder, and CEO of Capital claims that current legislative initiatives have the potential to make the United States of America one of the few Western nations to completely regulate and embrace stablecoins and other digital assets as legitimate aspects of the financial system.

The entire market worth of all cryptocurrencies is fighting an uphill battle to get back to $1 trillion, and the pause in pessimistic sentiment is having an effect on cryptocurrency firms.

Bloomberg Senior Analyst Says “Bitcoin Could Be One of The Greatest Bull Markets in History”

Mark Brennan
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Bloomberg Senior Analyst Says “Bitcoin Could Be One of The Greatest Bull Markets in History”

 

According to a Bloomberg expert, bitcoin has the potential to be one of the most successful bull markets in history.



Mike McGlone, a senior strategist, and an analyst at Bloomberg has said that he thinks Bitcoin might be one of the biggest bull markets in history at a comparatively discounted price to start the year’s second half. Or the cryptocurrency might be a failed experiment that is now being rendered obsolete, similar to crude oil. He remarked that the consensus is that the number of people using Bitcoin would most likely keep growing.

 

Before that, McGlone also talked about the outlook for crypto assets at the halfway point of the year; McGlone said that a common theme in cryptocurrencies is to embrace the bear and build a better financial system, particularly from the institutional perspective and with a longer-term focus, which is analogous to the bursting of the internet bubble in 2000-2002. He added that during the first half of the year, all risk assets were in the process of cleaning up their excesses.

 

 

The analyst brought in a chart comparing the Wilshire 5000 Total Market Index to the Gross Domestic Product of the United States and superimposed a curve depicting the total market capitalization of cryptocurrencies on top of it. He did this to provide a more comprehensive picture of what was happening. This graphic, which was made famous by Warren Buffett, illustrates the many levels of valuation that exist at any one time.

According to McGlone, the risk-to-reward ratio favors responsive investors in the second half of the year because the Bloomberg Galaxy Crypto Index is getting close to a drawdown that was similar to the bottom in 2018 and because Bitcoin’s discount to its 50- and 100-week moving averages is similar to previous foundations.

 

CZ Says Binance Carry No Loans From Others, Has “The Largest Reserve in Industry” To Carry On Zero BTC Fees

Mark Brennan
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CZ Says Binance Carry No Loans From Others, Has “The Largest Reserve in Industry” To Carry On Zero BTC Fees

The Binance founder reassured users that the company has what it takes to continue operating for years.


Following the launch of zero-fee Bitcoin (BTC) trading by Binance, Changpeng “CZ” Zhao, the founder and CEO of the world’s largest exchange by daily trade volume, said the company has the largest reserve in the nascent industry.

The founder of Binance noted that Binance is not in the habit of bragging about numbers like most crypto businesses do; however, the exchange has by far the largest reserve in the industry.”

Zhao made this known in response to a comment made by a Twitter user who goes by the username @dippudo.

Shortly after Binance announced the launch of its zero-fee Bitcoin trading for 13 spot pairs, @dippudo tweeted:

“CZ is it true, what you said on @BanklessHQ, that @binance can run for many years with the amount of reserves you have? How does zero-fees affect this?”

The CEO of Binance, who is believed to be the world’s richest man in the cryptocurrency industry, dismissed the likelihood that the exchange’s launch of zero-fee trading would affect its reserves.

“Yes, no worries. We don’t brag about numbers. But we have by far the largest reserve in the industry that we know of. This 0 fee is just a way we take care of our users during a tough market,” CZ said.

CZ Says Binance is Self-Sufficient

The founder of Binance recently stated that the cryptocurrency exchange is not in any competition with other trading platforms, as the crypto community would decide which trading firm is better.

He stated that Binance is self-sufficient and does not have any burden of loans, in what is considered an attack on rival exchange FTX.

“Binance does NOT have loans from others. Self-sufficient.”

Binance Launches Zero-Fee Trading for Bitcoin

Yesterday, Binance announced that it would be celebrating its fifth anniversary by introducing zero-fee trading for BTC spot pairs starting tomorrow.

The initiative will cover 13 BTC spot pairs such as “BTC/AUD, BTC/BIDR, BTC/BRL, BTC/BUSD, BTC/EUR, BTC/GBP, BTC/RUB, BTC/TRY, BTC/TUSD, BTC/UAH, BTC/USDC, BTC/USDP, and BTC/USDT.”

As reported by TheCryptoBasic, the United States arm of the exchange, Binance.US, initially rolled out zero-fee Bitcoin trading.

Binance Fostering Crypto Adoption in Africa

Despite having a good reserve that can sustain Binance for years, CZ and the company are not relenting in launching significant efforts that will drive crypto adoption.

CZ disclosed yesterday that he paid a visit to the president of Senegal, Macky Sall, in a move believed to be part of the exchange’s plans to foster widespread crypto adoption in Africa.

The development came a day after he met with the President of Côte d’Ivoire (Ivory Coast), Alassane Ouattara.

His visits to these African countries are part of a wider push to foster the adoption of cryptocurrency and blockchain technologies in Africa, where a good number of the populace is underbanked.

Court Documents Reveal Voyager’s Plan To Reimburse Customers, But There Is A Catch

Mark Brennan
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Court Documents Reveal Voyager’s Plan To Reimburse Customers, But There Is A Catch

 

Voyager Customers Are Not Likely To Get Full Compensation.



Court documents filed by temporarily defunct crypto lender Voyager have revealed that the firm is not likely to make repayments on the full sum owed to clients, according to a Bloomberg report on Wednesday.

Voyager’s Chapter 11 filing details that users would be “impaired” by the bankruptcy filing process, implying that Voyager has no plans to reimburse users with their exact investment.

According to the firm’s Chapter 11 bankruptcy filing, Voyager intends to repay users with a mix of deposited crypto assets, stock from the company after restructuring, Voyager tokens, and debts recovered from their largest debtor Three Arrows Capital which is currently undergoing liquidation processes in the British Virgin Islands.

However, Voyager also notes that customers with dollar deposits would only be compensated “after a reconciliation and fraud prevention process” with Metropolitan Commercial Bank, with whom it holds an omnibus account.

It is worth noting that Voyager did not keep user funds in separate accounts but rather mixed them into asset-specific holdings. This is a practice that the US SEC has often called into question. 

The firm currently reports having $1.3 billion in crypto assets on its platform, even as it is owed about $1.12 billion in loans. Voyager’s largest debtors include Three Arrows Capital, Sam Bankman-Fried’s Alameda Research, and Mike Novogratz’s Galaxy Digital.

Voyager is one of the several crypto lenders to limit or halt operations entirely as the crypto markets continue to trend downward. At the time of writing, it is the first to file for bankruptcy, even as reports reveal that Celsius is also considering the option.

It is worth noting that Voyager’s bankruptcy proceedings will give insight into how the courts apply insolvency laws in the emerging market.

Canadian Payment Gateway Adds Support For SHIB Trifecta, Enabling Merchants To Accept Shiba Inu, Leash, Bone As Payment

Zabi
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Canadian Payment Gateway Adds Support For SHIB Trifecta, Enabling Merchants To Accept Shiba Inu, Leash, Bone As Payment

 

Over 5 Million Online Stores in 195 Countries Can Now Accept the Full SHIB Trifecta (SHIB, BONE, LEASH) as Payment Following Listing on FCF Pay.



Canada-based FCF Pay becomes the first-ever payment gateway in the world to add support for full SHIB Trifecta (SHIB, BONE, LEASH). The firm is also exploring the possibilities to add the SHIB Burn function for merchants.

FCF Pay recently announced via tweet that it has listed full SHIB Trifecta i.e., Shiba Inu (SHIB), Bone ShibaSwap (BONE), and The Dogecoin Killer (LEASH) on its platform, enabling the registered merchants to accept all the three tokens of Shiba Inu ecosystem as payment.

“We are delighted to announce that FCFpay has listed the full Shib Trifecta; Shib, Bone, and Leash.”

Please remember that FCF Pay added support for Shiba Inu in April 2022. Following shib addition, FCF Pay scheduled two back-to-back Community Polls asking the community to vote for the coin/token which they want to use next as a payment method on their platform. In the first Community Poll, the firm provided the community with four options: BONE, LEASH, TRX, and MATIC. Over 74% of the community voted in favor to list BONE.

In the second Poll, Baby DogeCoin and LEASH had tough competition. But finally, LEASH wins by scoring more than 50% of the votes.

Since FCF Pay serves as a payment gateway to a wide array of open-source eCommerce solutions including WooCommerce, Shopify, Magento now Adobe Commerce, and PrestaShop. Therefore, SHIB Trifecta can now be accepted as payment by over 5 million online stores in 195 countries using FCF Pay plugins.

In addition, FCF Pay also has added the full SHIB Trifecta to their Poker Club and Casino website. Following the announcement, the community began to ask whether they would list Ryoshi Vision (RYOSHI), and TREAT, an upcoming ShibaSwao reward token on their platform. On this, FCF Pay said: “We’ll be happy to add them to another listing poll if the Shib team confirms they’re official, etc.”

FCF Pay also confirms that the company is exploring the possibility to add the SHIB Burn feature to their payment gateway for merchants. The firm hasn’t revealed much detail about this feature yet but said they’re looking to add some kind of “Buyback Mechanism” to burn SHIB.

Ripple v. SEC: Attorney John Deaton Plans to Sue the SEC Over His FOIA Request For William Hinman’s Calendar 

Lele Jima
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Ripple v. SEC: Attorney John Deaton Plans to Sue the SEC Over His FOIA Request For William Hinman’s Calendar 

The outspoken attorney believes the SEC lied and that Hinman’s calendar was not used to conduct official agency business. 


Attorney John Deaton disclosed he may sue the Securities and Exchange Commission (SEC) over his Freedom of Information Act (FOIA) request for William Hinman’s official calendar during his time as the agency’s Director of Corporation Finance.

According to attorney Deaton, who was granted amici status in the lawsuit, the SEC initially responded to his FOIA request that Hinman’s calendar is created for personal use and did not constitute an agency record.

“Looks like I have to sue the SEC over my FOIA request for Hinman’s calendar. Initially, the SEC argued that his calendar was created only for his personal convenience and did not constitute an ‘agency record.’ Can you believe such nonsense? Like nobody else utilized his calendar?” attorney Deaton tweeted.

Image source: Twitter

Deaton Accused the SEC of Falsehood

He claimed that the SEC lied and that Hinman’s calendar was not used to conduct the agency’s business. Attorney Deaton added a screenshot of one of the documents shared by popular U.S. whistleblower Empower Oversight, indicting Hinman of flouting SEC rules in a bid to back up his claims.

“I appealed this absurd finding arguing that other agency employees would have relied on his calendar to conduct agency business. We have proof thanks to @EMPOWR_us suing the SEC,” attorney Deaton added.

deaton 2

Image source: Twitter

Bad Blood Between SEC and Deaton 

It is worth noting that attorney Deaton and the SEC have not been best of friends since the beginning of the lawsuit.

As reported by TheCryptoBasic, the SEC recently objected to attorney Deaton’s requests to represent 67,000 XRP holders in the upcoming Daubert challenge.

The issue has sparked a series of debates ever since. The SEC also frowned at attorney Deaton for revealing personal details of one of his experts, who has been the recipient of harassment from members of the XRP community.

Bitcoin Absorbing Selling Pressure As Crypto Pundit Suggests ‘BTC Market Is Safe From Sell-Side’

Albert Brown
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Bitcoin Absorbing Selling Pressure As Crypto Pundit Suggests ‘BTC Market Is Safe From Sell-Side’

Crypto Pundit Suggests Bitcoin Is No Longer In The Danger Zone.



Cryptoquant thinks Bitcoin may have crossed from the sell-side.

There have been many speculations about Bitcoin after the top coin seemed to be pushing above $20k. Even a few analysts like Cryptoquant seem to be a bit optimistic.

In a recent tweet, Cryptoquant CEO Ki Young Jun shared an interesting opinion about the current market status regarding Bitcoin. According to his analysis, there hasn’t been much movement on the on-chain side over the past week.

What Does It Mean?

The CEO explained a little about what this development may mean for the Bitcoin market, although he stopped short of being absolute. Jun believes that BTC may have pushed from the sell-side to the safe side based on his observation of the on-chain activities over the past seven days. This may have been contributed by the current price that seems to be fighting to stay above $20k, signifying some growing resilience and potential increase.

“I haven’t seen any significant Bitcoin on-chain activities for the past seven days. Who knows the future but at least the $BTC market is safe from sell-side liquidity as long as on-chain is quiet.”

There hasn’t been much upside on Bitcoin Exchange Balances since the start of July, further reducing the risk of strong selling. Lark Davis shares Glass node data demonstrating that Bitcoin balances on exchanges are decreasing continuously. According to the chart shared by the famous crypto influencer, almost 150K BTC left exchanges, the largest BTC exchange outflow recorded.

 

NB: Nobody Knows The Future

While the Cryptoquant CEO is optimistic, he’s not exactly sure about the future, which is understandable because the crypto market is known to be volatile. Things can change on a whim. Still, the current analysis posts an optimistic view that Bitcoin might have overcome the extreme pressure seen over the last few weeks. That’s even though it hasn’t regained much of its previous positions.

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