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Who Will Bring Change to Crypto Industry?

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The world of crypto is increasingly moving towards a larger intersection between the traditional world of finance and that of cryptocurrency.

The crypto industry is gaining momentum again with Bitcoin soaring to new heights. It will likely touch the figures as high as that from the bull run of 2017-2018. With all eyes of the financial world in the crypto market again, we will see intense competition among companies. At the end, we will see a few players emerge out as winners. The battleground is set and is beaming with emerging players to make a move to gain market share. Many companies are aiming for the home run in various sections of the crypto market – exchanges, DeFi protocols, etc, are on the card. 

Who will win? That is something that time will tell. But there won’t be any fluke this time. The companies with strong fundamentals and backed by a robust technological platform and a wonderful team will gain an upper hand over their competitors. There will be intense competition among many companies in the crypto market and this particularly stands true for the crypto trading space. Every cryptocurrency enthusiast will agree to a fact that crypto trading platforms hold a prominent position in the global market of cryptocurrencies. Now, whoever holds a dominant position in the crypto trading market will be able to change the crypto industry as a whole.

The cryptocurrency trading space has been quite the same for some time as there hasn’t been much activity on the innovation side. A few players took it upon themselves to innovate and leverage cutting-edge technologies to offer new features to users. There are a few names that come up when we are talking about innovative cryptocurrency trading platforms. 

The names that appear commonly on every list are Binance, Liber Ltd, Kraken, Alpari, FXTM, among a few others. These companies are working hard to offer advanced features to their users. These names will compete for the coveted title of being the flagbearer of the crypto world. Let’s explore one of these companies to see how they are working to bring the necessary changes in the crypto industry. Among these crypto trading platforms, Liber Ltd stands a better chance at changing the crypto industry, considering how they have been innovating to stay ahead of their competitors. They provide a wide range of financial instruments to its 500,000+ users and allow them to trade currency pairs, metals, cryptocurrencies, energies, and indices. Let’s explore how Liber Ltd is cementing its position as a company that will change the cryptocurrency space for good.

Changing the Crypto Industry for Good

Have you heard terms such as AI and Big Data? Many companies around the world, including from the blockchain world, are using these terms without any concrete implementation of these technologies. It has led to an impression among the masses that these words are only for promotional purposes. A company that will leverage these technologies, in reality, will reap tremendous benefits. At the same time, they will be able to revolutionize the industry they are in by removing the shackles that are holding the industry hostage.

True to their roots, the premise behind the launch of Liber Ltd, was to provide a trading platform that would combine the facilities of artificial intelligence, big data, and blockchain. A combination of these technologies can enable any company to leave a deep impact on the industry. The AI-driven safety management system has enabled Liber Ltd to detect abnormal trade and initiate automatic and semi-automatic processes to ensure system integrity. When it comes to big data features, Liber Ltd is using it in combination with AI. With a combination of these two new-age technologies, they are able to archive millions of trading data and produce actionable insights and periodic statistical charts. 

An isolated Blockchain serves as the storage for this data making it hackerproof and transparent. If these three work synergistically, as they are intended to, Liber has a chance to stand out as a crypto platform that combines the benefits of incisive technology, decentralized operations, and traditional trading knowledge. They have introduced multiple well-defined packages as part of their investment mechanism. The users can pay for these packages through their existing crypto holdings, such as BTC, ETH, and Liber Ltd’s native token libfx. 

A wide range of investment options and potential returns help to cover a significant variety of investors with differing investment capabilities. These varieties include investment options ranging from $500 to $50,000 with respective return potential ranging from 8% to 16%. It’s affiliate program rewards investors who bring in new ones with a commission equal to 6% of the package value. Whether having such a wide range would prove a successful strategy to become more inclusive or it would drive the bulk of investors towards low investment options is only time will tell.

Token Aimed at Expanding the Horizon of Online Trading

Built on top of the Ethereum platform in accordance with the ERC 20 standards, Libfx tokens are not only a tool for raising funds. It offers a robust example to the crypto industry on how tokens can serve multiple purposes. Libfx tokens act simultaneously as a payment medium, a mobilization incentive, and as a right or claim. One can use it to make payments on the trading floor. As a mobilization incentive, charging by libfx tokens is matched with special promotion programs. Finally, the owners of the token enjoy exclusive rights to Liber Ltd’s stocks scheduled to be listed on the New York Stock Exchange in 2025. The total supply of libfx tokens is 35,000,000

Apart from offering utility and future value, crypto tokens should expand their coverage by forming partnerships with exchanges and platforms. In September, Libfx token listed itself on Imtoken as well as in Etherscan.io.

The world of crypto is increasingly moving towards a larger intersection between the traditional world of finance and that of cryptocurrency. Bringing in conventional tools of finance for crypto investors without them having to leave the blockchain environment is the focus. Which of the crypto trading platforms would be capable of bridging these two separate worlds successfully is only for the future to tell, but innovative companies like Liber Ltd, Binance, among other big names, are here for the long run.

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GM Stock Up 1%, General Motors to Execute Its EV Plan with Affordable Chevy Bolt

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The Bolt EV will have a starting price of $31,995 compared to the $33,995 starting price of the new 2022 Bolt Utility Vehicle. 

General Motors Company (NYSE: GM) to release two affordable Chevrolet Bolts as part of their plan to become an all-electric vehicle company by 2035. According to the report, the company plans on starting the Chevrolet Bolt below $34,000 and will be an all-electric vehicle. Also, there will be a GMC Hummer EV pick-up later this year at a $113,000 starting price. The Chief Engineer of the company’s battery electric vehicle architecture, Jesse Ortega in a statement said that the representation of the GMC Hummer EV and what the Bolt EV in the body can be represented shows their capabilities.

Meanwhile, GM stock is in the green. Currently, it is 1.69% up, trading at $52.20.

Some of the officials of General Motor refused to comment on the profitability of the Bolt EV. However, the CEO of the company, Mary Barra, and the President of the company, Mark Reuss revealed that the expected next-generation vehicle will be more profitable than the Bolt EV set to be released this year. The Bolt EV will have a starting price of $31,995 compared to the $33,995 starting price of the new 2022 Bolt Utility Vehicle.

The affordability of the vehicle places the company in a better consumer preferential position compared to the Tesla Model 3 which starts at around $37,000 and the $43,000 starting price of the Ford Mustang Mach-E Crossover. Tony Johnson, Director of Chevrolet Marketing believes that the team did marvelously well to deliver superb job driving quality, driving consistency, and driving cost. According to him, the advancement was the contributing factor that resulted in the drastic fall of the starting price.

The Bolt EUV hits 250 miles while the Bolt EV hits 259 miles in full charge. The company’s vehicle that has Ultium Technology will have a 450 mile per charge according to reports. General Motors added some technological features to the model to ensure that they stay competitive. The Bolt EUV, for instance, was integrated with the hands-free supercruise semi-autonomous highway driving system. This will help the driver to be monitored with facial recognition whether he is distracted behind the steering wheel or not while the system is running.

The company has launched a marketing campaign called “Everybody In”. This is a strategy to attract new buyers in their numbers to retain them in the coming years as part of their plan to improve on the adoption of EV. This means buyers will have the opportunity to go for a next-generation EV while they give out their lower-priced vehicles to the company. Ortega explained that they have a plan to keep their customers for a lifetime, and so they seek to delight them by offering them an EV as their needs grow and lifestyle changes.

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Excellent John K. Kumi is a cryptocurrency and fintech enthusiast, operations manager of a fintech platform, writer, researcher, and a huge fan of creative writing. With an Economics background, he finds much interest in the invisible factors that causes price change in anything measured with valuation. He has been in the crypto/blockchain space in the last five (5) years. He mostly watches football highlights and movies in his free time.



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Tether Claims to Receive 500 BTC Ransom Note, They Will Not Pay

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Tether alleges it has received a ransom note for 500 BTC. The extortionists have threatened to make documents that are harmful to the Bitcoin ecosystem public.

On Sunday, Tether shared on its Twitter account that it was been extorted. In a thread, Tether stated that they had received a ransom note asking for 500 BTC – worth around $22 million. Tether further noted that the extortionist had threatened to release documents that would be “harmful to the Bitcoin ecosystem.” Tether has been clear that it will not pay. This comes just days after the stablecoin settled a case with the New York attorney general regarding the $850 million loan to Bitfinex.

The team also disputed the circulating documents purported to be personnel emails between Tether and Deltec Bank & Trust and others. Some have purported that these documents are proof that the stablecoin is not fully backed by dollars in reserves as it has long claimed. So far the emails have not been confirmed and Deltec Bank is yet to comment. After receiving the ransom note, Tether wrote:

“Today we also received a ransom demand for 500 BTC to be sent to bc1qa9f60pved3w3w0p7snpxlnh5t4uj95vxn797a7. The sender said that, unless they receive the BTC by tomorrow, they will leak documents to the public in an effort to “harm the bitcoin ecosystem.” We are not paying.”

Undermining Tether

The team has argued that the threat could be a simple extortion scheme or a way to undermine it. Basic extortions are popular in the crypto community, at the same time, the Tether project is surrounded by controversy. This has made the case complicated. Some in the community have long suspected that Tether is not fully backed by dollars in reserve. Additionally, academics have argued that Tether manipulated Bitcoin prices in 2017. Coincidentally as Bitcoin surged to reach $20K, Tether’s market cap climbed from $2 billion to $34 billion.

Tether has been key in the crypto market as a stablecoin. Stablecoins allow investors and exchanges to enter and exit cryptocurrencies in times of extreme volatility with ease. Despite such coins being popular, the largest has been Tether. At the time of press, the coin ranks 5th with a market cap of $35 billion. Interestingly, because of this the stablecoins use of entering and exiting from other cryptocurrencies, Tether records the highest daily trading volume on the crypto market. At the time of press, this stands at over $95 billion.

With the team clear that it will not pay, many will be watching closely if there are any controversial documents released that potentially harm the ecosystem. If not, it will be obvious that this was just a way to undermine the project and spread FUD in the market.

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Kiguru is a fine writer with a preference for innovation, finance, and the convergence of the two. A firm adherent to the groundbreaking capability of cryptographic forms of money and the blockchain. When not in his office, he is tuned in to Nas, Eminem, and The Beatles.





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Walmart Poaches Goldman Sachs Top Talents to Lead Its Fintech Startup

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Walmart is set to venture into the financial system through a new fintech startup to offer its customers and employees a reliable service. 

Walmart Inc (NYSE: WMT) has poached two top Goldman Sachs Group Inc (NYSE: GS) bankers to lead its new fintech startup with Ribbit Capital. The American multinational retail corporation is seeking to diversify its investment portfolio to bolster its deteriorating stock market.

Notably, Walmart stocks have been dropping in the past three months. Whereby according to MarketWatch, they have dropped approximately 15%, 6.7%, and 9.8% in the past three months, one month, and year-to-date.

Apparently, Walmart remains more susceptible to the coronavirus crisis than other e-commerce companies. Notably, the company significantly relies on low-income earners for its sales, and most are struggling to make the ends meet, especially without the stimulus package.

Walmart Focus on Fintech Startup

Walmart is set to venture into the financial system through a new fintech startup to offer its customers and employees a reliable service. Furthermore, with over 12.6 million Americans having reported unemployment status, Walmart expects a deeper crisis in the near future. Customers have “made it clear they want more from us in the financial services arena,” president and CEO of Walmart US John Furner said in a statement.

Moreover, Walmart has a huge database of customers’ information that could benefit its financial market venture. “Walmart’s newly-announced fintech joint venture with Ribbit Capital will provide myriad growth opportunities, with the leveraging of its massive customer base at the center of the initiative,” Moody’s Vice-President and Senior Credit Officer Charlie O’Shea, said in a note to investors. “Walmart has been slowly and tactically expanding its financial service offerings to its customers, and measured expansion of these capabilities makes sense as it will deepen these all-important customer relationships.”

Goldman Sachs will now be deprived of Omer Ismail, the head of Goldman’s consumer bank, crucial services. Besides, David Stark, one of Ismail’s top lieutenants at Goldman, will be joining the unnamed Walmart fintech startup. “Our business has serious momentum and a deep and growing bench of talent,” said Andrew Williams, a Goldman Sachs spokesman. “We wish these two well.”

Walmart’s entry into the financial and banking sector is a threat to traditional and leading firms in the sector. Notably, in addition to the huge market capitalization, the e-commerce giant has a significant number of customers’ databases. Besides, Ribbit is set to bring on board notable expertise to develop the fintech startup. As a result, it is capable of developing a major financial ecosystem in partnership with other industry players that shakes the traditional banking system.

At the tail end of last year, the Federal Deposit Insurance Corp. approved a final rule governing so-called industrial loan companies. As a result, it is now easier for major businesses to seek banking charters while escaping capital and liquidity demands faced by dedicated financial firms.

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A financial analyst who sees positive income in both directions of the market (bulls & bears). Bitcoin is my crypto safe haven, free from government conspiracies.
Mythology is my mystery!
“You cannot enslave a mind that knows itself. That values itself. That understands itself.”



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