A wallet that received over $2 billion in bitcoin from the collapsed Mt. Gox exchange moved the bulk of those funds to a separate wallet on Tuesday, according to data from Arkham Intelligence. The transactions suggest that the long-awaited repayment to Mt. Gox creditors could be nearing completion. More than $9.4 billion worth of Bitcoin is owed to 127,000 Mt. Gox creditors who have been waiting for over 10 years to recover their funds. The wallet, identified as bc1q26, transferred nearly $2 billion worth of bitcoin after a smaller test transaction earlier in the day. Arkham Intelligence speculated that the wallet likely belongs to cryptocurrency exchange BitGo, which is reportedly involved in the final stages of distributing funds to Mt. Gox creditors. This activity follows Mt. Gox’s recent transfers of billions of dollars in bitcoin to various crypto exchanges, including Bitbank, Kraken, Bitstamp, and SBI VC Trade. These exchanges are responsible for distributing the funds to creditors, who have been waiting since the 2014 security breach that led to the loss of at least 850,000 bitcoin. On July 24, Kraken completed the distribution of all Bitcoin (BTC) and Bitcoin Cash (BCH) owed to Mt. Gox creditors, according to CEO Dave Ripley. Nevertheless, concerns among crypto investors about massive sell-offs have not materialized. Despite fears that the majority of creditors would sell their Bitcoin, Kraken’s trading volume suggests otherwise. Meanwhile, Bitstamp has started the process of returning digital assets to Mt. Gox creditors. The exchange announced it has received Bitcoin, Bitcoin Cash, and Ethereum from the Mt. Gox trustees. Bitstamp indicated that transfers could take up to a week for some creditors. UK customers will not be included in the first tranche of distributions but should expect to receive their funds within the next few months. The movement of such a large sum of bitcoin signals that the resolution of the Mt. Gox saga, which has kept thousands of creditors in limbo for nearly a decade, may finally be within reach.

Binance’s latest initiative, Super Earn, allows users to enhance their earnings with special APR opportunities on newly listed tokens. Learn how to participate and maximize your returns on Binance today. Binance, the global leader in cryptocurrency exchange by trading volume, has unveiled Binance Super Earn, a new program offering users the chance to earn a Special Annual Percentage Rate (APR) on selected newly listed tokens. Super Earn is designed to increase user earnings through higher APR rewards, while also helping to promote new projects. Each limited-time offer is fully backed by the respective token projects, rewarding users who hold these newly listed tokens on the Binance platform. To take part, users can subscribe to Simple Earn Locked Products labeled with the ‘Special Offer’ tag using the newly listed tokens. Rewards are distributed daily during the promotion period or until the allocated amount is fully subscribed. Subscription limits, both minimum and maximum, depend on the token contributions from the respective project teams and can vary. This initiative not only aims to boost user earnings but also supports the ecosystem by giving new projects a platform to increase their visibility and engage users. It aligns with Binance’s broader goal of creating a comprehensive platform that benefits all stakeholders, from token projects to individual users, while fostering innovation and community engagement. The first token available on Super Earn is Toncoin (TON), a decentralized and open Layer 1 (L1) blockchain. Users can lock their TON tokens in Simple Earn Locked Products to earn a Special APR in just a few days. Binance will announce the exact start date for Super Earn one day in advance. Toncoin marks the 56th project listed on Binance Launchpool, further expanding Binance’s ecosystem and offering users access to a diverse range of innovative tokens. In 2024 alone, Binance introduced over 40 Earn campaigns, with more than 8 million users benefiting from these products. Super Earn presents a valuable opportunity for users, particularly BNB holders, to maximize their returns. Building on existing earning options like Megadrop, HODLer Airdrop, and Launchpool, Super Earn provides another avenue for users to increase their earnings by subscribing their BNB to Earn and participating in airdrops, then using the received tokens in Super Earn to secure additional APR. For detailed information about Super Earn, please refer to the Super Earn FAQ. About Binance Binance is a globally recognized blockchain ecosystem and operates the world’s largest cryptocurrency exchange by trading volume and registered users. With over 200 million users across 100+ countries, Binance is trusted for its top-tier security, transparency, and high-speed trading engine. The platform offers a comprehensive range of digital asset products and services, including trading, finance, education, research, payments, institutional services, and Web3 features. Binance is committed to building an inclusive crypto ecosystem that enhances financial freedom and access worldwide through the power of cryptocurrency. Learn more at Binance.

Bybit extends its strategic partnership with Dubai Multi Commodities Centre (DMCC), transitioning into an advisory role to further bolster Dubai’s position as a global crypto hub. Bybit, the world’s second-largest cryptocurrency exchange by trading volume, has announced the extension of its strategic partnership with the Dubai Multi Commodities Centre (DMCC). Building on a year of successful collaboration, Bybit is transitioning from a key ecosystem partner to an advisory role, solidifying its influence in Dubai’s growing crypto and Web3 industry. From August 2024 to July 2025, Bybit will serve as a DMCC Ecosystem and Advisory Partner, offering strategic guidance to the DMCC Crypto Center and its members on essential initiatives. To further enhance Dubai’s standing as a leading global crypto hub, Bybit and the DMCC Crypto Center will co-host two major industry events this year: a global hackathon and a flagship conference. The hackathon aims to foster innovation by supporting developers in creating Web3 projects, while the conference will position Dubai as a center for thought leadership by bringing together industry experts and key opinion leaders. The past year has seen significant milestones, including a $100,000 prize pool hackathon to support blockchain startups, a Masterclass for aspiring entrepreneurs, the “Let Web3 Happen in Dubai” event focusing on security and compliance, and a notable side event at Token 2049. Through these initiatives, Bybit has provided active support and guidance to over 20 startups, helping them establish a strong presence in Dubai’s dynamic crypto ecosystem. In its new advisory capacity, Bybit will leverage its extensive industry knowledge to influence the future of Dubai’s crypto and Web3 sectors. This collaboration highlights Bybit’s continued commitment to supporting Dubai’s vision of becoming a global leader in the crypto and Web3 space. “We are  honored to be the first organization appointed to this advisory role by DMCC,” said Helen Liu, Chief Operating Officer at Bybit. “By taking on an advisory role, we are excited to leverage our expertise to drive innovation and support the growth of the industry in Dubai.” Belal Jassoma, Director of Ecosystems, DMCC, added “Bybit have been true partners over the past year, bringing substantial value to Dubai’s crypto and Web3 community. We are thrilled to expand this through Bybit’s advisory role, which will support our Crypto Centre members in new ways as they look to scale their crypto businesses and tap into some of the world’s most exciting markets.” About Bybit Bybit is the second-largest cryptocurrency exchange globally by trading volume, catering to over 39 million users. Founded in 2018, Bybit offers a professional platform equipped with an ultra-fast matching engine, 24/7 customer support, and multilingual community assistance. Bybit is also a proud partner of Oracle Red Bull Racing, the reigning Constructors’ and Drivers’ champions in Formula One. For more details about Bybit, please visit Bybit Press.  For more information, please visit: https://www.bybit.com For updates, please follow: Bybit’s Communities and Social Media

Aspiring traders, rejoice!  Today, Exclusive Markets, a leading investment firm known for its robust track record of satisfied clients, announced the launch of its innovative “Exclusive Funded Programme.” It empowers traders to hone their skills, showcase their expertise, and potentially gain access to a Funded Account of up to $100,000 of the firm’s capital and retain up to 80% of the profits. Challenge Accepted: Prove Your Trading Prowess “Exclusive Funded Programme” operates through a series of challenges and phases. The programme offers two challenge options that are designed to assess the trading abilities and identify those with the potential to excel. Traders have the opportunity to showcase their expertise and abilities by reaching profit targets on a demo account, which ranges from $10,000 to $100,000 of fictitious funds. Upon successfully passing the challenge with no violations and meeting the relevant KYC standards, traders will receive a funded account, and be entitled to retain 80% of their earned profits. Elite Challenge (1-Step): This is a faster, single-step challenge. You’ll need to achieve a 10% profit on the challenge phase, adhering to the minimum trading days, maximum daily and overall drawdown limits of 4% and 8%, respectively.  Pro Challenge (2-Step): This two-step challenge focuses on steady growth. In the first phase, you need to achieve an 8% profit, followed by a 5% profit in the second phase, all while maintaining minimum trading days, a maximum daily drawdown of 4% and an overall maximum drawdown of 8%. Additionally, this programme offers: Quick Payouts: Enjoy quick payouts, ensuring access to your earnings without delay.  100% Refundable Fee: Subscription fees paid are 100% refundable upon successfully transitioning to a Funded Account. One can only avail of the refund when withdrawing their share of the profits for the first time. Unlimited Trading Days: The challenges provide flexible trading days so you can work at your own pace and take as much time as you need to reach the profit target. Swap Account: Exclusive Funded programme provides Swap Accounts, enabling traders to keep positions open overnight without being charged extra fees. Drawdown Limits: Manage risk by limiting each trade’s drawdown to a maximum of 4% and an overall drawdown of 8%. Mindset Management Resources: This programme offers valuable resources to help you develop the winning mindset crucial for trading success. Embrace the Exclusive Opportunity With the “Exclusive Funded Programme,” we believe in empowering talented traders, says Hemant Kumar, CMO. The programme provides a unique demo platform to showcase your skills and potentially unlock a life-changing opportunity. We’re committed to providing the resources, support, and flexibility you need to thrive in the dynamic trading world. Ready to take the challenge? Visit official webpage of Exclusive Funded Programme and embark on your trading journey today! About Exclusive Markets Exclusive Markets is dedicated to providing traders with a robust, secure, and transparent platform for investing in a variety of financial instruments. With a focus on cutting-edge technology and holding ISO/IEC 27001:2013 Certification by MSCEB, Exclusive Markets offers traders an exceptional platform that seamlessly integrates advanced features with user-friendly interfaces. Traders can access a wide array of trading instruments, including CFD stocks, commodities, forex, and spot metals. The company’s expert team is committed to meeting the evolving needs of its clients by continually expanding its range of products and services, allowing traders to invest according to their preferences. Risk Warning: Trading involves risk.

Swissquote Group has reported record financial results for the 6-month period ending June 30, 2024, citing improved investor sentiment and increased trading activity. The Swiss online bank reported net revenues of CHF 316.9 million, up 19.3% from the same period last year. As of June 30, client assets reached a record high of CHF 68.0 billion, out of which CHF 3.8 billion in new money it attracted in 2024. Diversification played a key role in Swissquote’s strong performance. Net interest income rose by 6.9%, driven by higher interest rates and cash deposits. Trading activity improved, with the number of transactions up 21.9%. Net fee and commission income grew 17.9% to CHF 86.9 million. The bank, based in Gland, western Switzerland, said its pre-tax profit for the year surged 35.9% to CHF 169.7 million. Meanwhile, net income from crypto assets soared by 369.0% to CHF 35.1 million, driven by a rise in crypto market capitalization and increased trading volumes. However, net eForex income fell by 14.2% to CHF 47.1 million, impacted by lower trading volatility, though it remained stable compared to the previous half-year. Total expenses increased by 6.3% to CHF 147.1 million, largely due to a higher headcount and variable remuneration expenses. Despite this, the pre-tax profit margin improved to 53.5% from 47.0%, with net profit rising to CHF 144.6 million and a net profit margin of 45.6%. The number of client accounts grew by over 36,000 in six months, surpassing the total growth for 2023, while the average assets per customer remained above CHF 100,000. The mobile finance app Yuh also showed strong growth, with accounts up 58.9% to more than 235,000 and client assets doubling to CHF 2.0 billion. Although Yuh’s pre-tax profit contribution remains negative, Swissquote expects to improve compared to 2023. Looking ahead, Swissquote has increased its full-year guidance, now targeting net revenues of CHF 615 million and a pre-tax profit of around CHF 320 million, up from its initial forecast of CHF 595 million and CHF 300 million, respectively. However, the company remains cautious about the second half of 2024, particularly with respect to the volatile crypto market.

The supply of PayPal’s U.S. dollar-pegged stablecoin, PYUSD, on the Solana blockchain has exceeded its supply on the Ethereum network. Since its launch on Solana in May 2024, the supply of PYUSD tokens on Solana has reached over 377 million, surpassing the 356 million tokens on Ethereum. PYUSD launched in August 2023 as an Ethereum-based stablecoin, fully backed by assets like dollars and US Treasurys. Compared to Ethereum, Solana offers lower transaction fees and higher throughput, which could make it a more efficient option for payments. For instance, PayPal’s cross-border service, Xoom, now allows users to transfer PYUSD for remittances. The stablecoin quickly gained traction, with its supply reaching 230 million by the end of 2023. The total supply of PYUSD has since tripled, now exceeding 733 million tokens across both networks. PYUSD’s expansion to Solana has seen notable growth, especially with Solana-based decentralized exchanges like Jupiter and Orca incorporating the stablecoin into their liquidity pools. This growth on Solana, combined with the widespread use of USDC and USDT, has led to an increasing supply of PYUSD on the network. PYUSD’s adoption on centralized exchanges such as Crypto.com and its integration into decentralized finance protocols like Curve and Frax have also contributed to the stablecoin’s growth over the past year. With a market capitalization of $733 million, PayPal’s PYUSD ranks as the fourth-largest centralized stablecoin, following Tether (USDT), Circle (USDC), and First Digital (FUSD), which have market caps of $120 billion and $36 billion, respectively. In the early months of 2024, PayPal USD had shown promising growth, with its circulation reaching highs of $304 million in February and $301 million in January. However, despite the cryptocurrency market’s overall rally in March, which saw Bitcoin reaching new all-time highs, PYUSD’s market capitalization began to decline from late February after peaking at $312 million on February 26.

Bifrost is upgrading to a new revenue-sharing tokenomics model with Bifrost 2.0, promising improved economic stability and enhanced rewards for token holders. Learn more about how this change will benefit you and the Bifrost ecosystem. Bifrost, a prominent liquid staking protocol on Polkadot and Kusama, is set to implement a major upgrade to its tokenomics with the Bifrost 2.0 initiative. This new model will allow holders of the native token (BNC) to benefit from the protocol’s sustainable earnings and revenue streams. The upgrade aims to attract long-term investors and align various stakeholders with the growth and development of the Bifrost ecosystem, while also boosting the protocol’s economic stability and resilience. Currently, Bifrost generates income from transaction fees, system staking, swap fees, and liquid staking commissions. The revised tokenomics will introduce the bbBNC (Buy Back BNC) token, an updated version of the ve-escrow (veModel) seen in other established protocols. Users can acquire bbBNC by locking Bifrost’s liquid staking token vBNC, which will provide them with staking rewards, governance rights, and a share of the protocol’s revenue. According to Bifrost, 90% of protocol revenue will be directed to bbBNC token holders. The upgrade is expected to create a growth flywheel that reduces the circulating supply of BNC and potentially increases its value. The new tokenomics model will be implemented in Q4, with educational materials provided to users beforehand to explain BNC 2.0 and bbBNC. Additionally, a vToken summer campaign launching at the end of August will promote staking volume across the vToken types supported by Bifrost. This move aligns Bifrost with other leading DeFi projects that have recently made similar governance changes related to revenue distribution. Bifrost aims to set itself apart by offering a top-notch service with significant benefits for its users. “We believe this new model will not only enhance the value of our protocol but also create a more engaged and committed community,” said Lurpis, Co-Founder at Bifrost. “We could not be more excited to embark on this new chapter with our loyal users.” About Bifrost Bifrost is a liquid staking app-chain designed to support various blockchains through decentralized cross-chain interoperability. It enables users to earn staking rewards and DeFi yields while offering flexibility, liquidity, and robust security across multiple blockchain networks.

The wife of detained Binance executive Tigran Gambaryan has raised concerns about his rapidly worsening health, describing it as “shockingly bad.” Gambaryan, who has been held since February, is reportedly “mostly bedridden” due to a herniated disc in his back that requires surgery. His condition has worsened to the point where it may cause permanent damage and affect his ability to walk. Additionally, he has suffered from throat infections, pneumonia, and requires surgery to remove his tonsils. Gambaryan had been responsible for overseeing financial crime compliance at Binance. He was detained alongside Nadeem Anjarwalla, Binance’s Africa regional manager, upon their arrival in Abuja, Nigeria’s capital, on February 26. They were accused of Binance making illegal transaction profits in the country, with criminal charges filed against them two days later. Anjarwalla later escaped custody on March 22, but Gambaryan remains imprisoned at Kuje prison, where his legal team has reportedly been barred from meeting with him. Gambaryan’s wife claims that he is now wheelchair-bound due to a treatable condition that has not been properly addressed. Binance CEO Richard Teng has called on the Nigerian government to release Gambaryan, adding that he was in Nigeria as an expert in financial crime to contribute to policy discussions. The situation involving Binance in Nigeria dates back two years, when the country’s Securities and Exchange Commission (SEC) issued digital asset regulations requiring permits for crypto exchanges. Despite Binance’s efforts to comply, the exchange faced unclear requirements and non-responsiveness from the SEC. In June 2023, the SEC accused Binance of operating illegally, leading to the suspension of the solicitation of Nigerian investors. U.S. lawmakers have also intervened, urging the Biden administration to treat Gambaryan’s case as a hostage situation. In June, 16 lawmakers, led by House Foreign Affairs Committee Chairman Michael McCaul, R-Texas, sent a letter to President Biden and other top officials, voicing concerns over Gambaryan’s lack of adequate healthcare in prison and fearing for his life. The Federal Inland Revenue Service (FIRS) of Nigeria initially brought the tax charges against Binance and the two executives. However, FIRS agreed to revise the charges, naming only the crypto exchange through its local representative as the defendant. Gambaryan will no longer need to appear in court for the FIRS case, making Binance the sole defendant. A family spokesperson stated that Gambaryan’s health deteriorated, and he has been diagnosed with malaria and pneumonia while in custody. Despite a court order to take him to a hospital, prison authorities delayed the medical visit, worsening his condition.

The U.S. Securities and Exchange Commission (SEC) has charged the founders of NovaTech Ltd., Cynthia and Eddy Petion, along with their company and several promoters, with operating a cryptocurrency pyramid scheme that raised more than $650 million. The SEC’s complaint was filed in the U.S. District Court for the Southern District of Florida, and accuses the Petions and their co-defendants of defrauding over 200,000 investors worldwide, particularly targeting the Haitian-American community. The complaint also names several Novatech promoters, including Martin Zizi, Dapilinu Dunbar, James Corbett, Corrie Sampson, John Garofano, and Marsha Hadley. The SEC is seeking “permanent injunctive relief, civil penalties, disgorgement, and the return of funds misappropriated from investors.” According to the SEC, NovaTech promised investors that their funds would be invested in cryptocurrency and FX markets. However, the company allegedly used the majority of the investors’ money to pay existing investors and commissions to promoters, while also spending millions on personal expenses. The scheme, which collapsed in May 2023, left most investors unable to withdraw their funds. The SEC has charged NovaTech, the Petions, and others involved with violating antifraud provisions and registration requirements. One of the promoters, Martin Zizi, has agreed to a partial settlement without admitting or denying the allegations. This case follows a similar lawsuit filed by New York Attorney General Letitia James against the Petions in June. The SEC said that the scale of this scheme was made possible by the actions of promoters and reiterated that it will hold all parties accountable for their roles in such fraudulent activities. The lawsuit also highlighted the use of religious overtones and influencers to attract investors to the alleged Ponzi scheme. In June 2024, New York Attorney General Letitia James filed a lawsuit against Novatech, its founders, and AWS Mining, accusing them of defrauding more than 11,000 New York City residents.

Trading Technologies International, Inc. (TT) has completed the acquisition of START, a broker-neutral trade optimization platform, from Abel Noser Holdings. This acquisition marks the second and final phase of TT’s purchase of assets from Abel Noser Holdings, a majority-owned portfolio company of Estancia Capital Partners. In August 2023, the Chicago-based trading software provider acquired Abel Noser Solutions, a provider of transaction cost analysis (TCA) for investment managers, brokers, asset owners, and consultants. TT acquired START separately to meet regulatory requirements for registering as a broker-dealer, which will allow it to operate under the right regulations and charge commercial fees in the securities markets on a per-transaction basis. START is essentially an algorithmic product. Once it’s aligned and integrated with the RCM-X products that TT expanded and added to its suite of algorithmic tools, it will upgrade their algo capabilities in the equities space and be able to offer more algos that are used by Abel Noser’s many buy-side clients. While the financial terms of the deal remain undisclosed, the acquisition complements TT’s offerings, particularly in the buy-side post-trade allocation service domain. The acquisition is part of TT’s broader strategy to expand into the multi-asset data and analytics space, as well as its presence in equities, fixed income, and FX markets. TT CEO Keith Todd highlighted that while Abel Noser has a strong foothold in these areas, TT aims to further consolidate its position in derivatives and build stronger relationships with buy-side clients. Trading Technologies acquired last year ATEO SAS, a developer of post-trade solutions for listed derivatives. This acquisition builds on a strategic partnership between TT and ATEO, which focused on developing a fully integrated post-trade allocation service. The TT platform provides market access and trade execution through the software-as-a-service (SaaS) delivery model. In addition, the solution provides access to major international exchanges and liquidity platforms. The platform already serves a wide variety of users, including proprietary traders, brokers, money managers, CTAs, hedge funds, commercial hedgers, and risk managers.

The USD/CHF currency pair experienced a dramatic rally this past week, climbing over 2.5% to trade near 0.8680 francs per dollar. The pair had dipped below the 0.8500 level just last Monday. This surge in volatility, marked by the ATR indicator reaching its highest point since March 2023, was primarily triggered by the sharp decline in the Japanese stock market. As investors sought safety, the Swiss franc, a traditional safe-haven currency, saw a significant increase in demand. However, with the Nikkei 225 recovering from its recent lows, the appeal of the franc as a safe-haven has diminished. Technical Analysis Technical indicators suggest a potential for consolidation in the near term. The USD/CHF pair has extended its downward channel, with the previously supportive lower boundary now acting as resistance. Additionally, a black trendline from July may also cap price gains. On the other hand, the pair’s price action exhibits characteristics of a bullish formation. A retracement of approximately 50% of the previous upward move has occurred, suggesting a potential for renewed upside momentum. Fundamental Outlook The release of the US Consumer Price Index (CPI) data for July on Wednesday will be a key event to watch. While a slight uptick in inflation is expected, it is no longer viewed as a major market concern. According to Timothy Graf, senior macro strategist at State Street, “Inflation is no longer the problem it once was.” Given the recent volatility, as evidenced by the elevated ATR, and the upcoming CPI data, the USD/CHF pair is likely to trade sideways around the current level in the short term. A clear directional bias is expected to emerge following the release of the inflation report. Key Points: USD/CHF rallied sharply due to Japanese stock market decline Swiss franc demand weakened as Nikkei 225 recovered ATR indicator reached highest level since March 2023 Technical analysis suggests potential consolidation US CPI data to be a key market driver FXOpen offers spreads from 0.0 pips and commissions from $1.50 per lot. Enjoy trading on MT4, MT5, TickTrader or TradingView trading platforms! This article represents the opinion of the Companies operating under the FXOpen brand only. It is not to be construed as an offer, solicitation, or recommendation with respect to products and services provided by the Companies operating under the FXOpen brand, nor is it to be considered financial advice. The subject matter and the content of this article are solely the views of the author. FinanceFeeds does not bear any legal responsibility for the content of this article and they do not reflect the viewpoint of FinanceFeeds or its editorial staff. The information does not constitute investment or financial advice or an offer to invest.

1. Optimism, Sui, and Wormhole amongst others, are set to unlock tokens next week, with the total value of these tokens surpassing $340 million. What should investors be looking at? Many see token unlocks as a reason to stay alert: they often lead to price volatility, causing investors to worry about their assets. We should definitely expect at least some price fluctuations. They may not be the same for different coins: the unlock’s impact can be greater if a significant portion of the total supply enters circulation, and vice versa. For example, Optimism unlocks 31.3M tokens, which is less than 3% of the 1.1B current circulating supply. Its token unlock effect may be milder than that of Wormhole, which releases 600M tokens in addition to 1.8B currently in circulation.  The price dynamics of specific tokens will also largely depend on investor sentiment toward particular projects. Negative sentiment might lead to selling pressure, while positive sentiment can mitigate price drops. 2. Are there any challenges Bitget faces when reviewing token listings? How do you pin “hidden gems” in the early stages? We at Bitget have developed our own methodology for evaluating early-stage projects, which includes both off-chain and on-chain metrics. The five main factors we consider are market traction, community, technological innovation, tokenomics, and security. We strive to list promising assets as quickly as possible, but we also must thoroughly assess all risks and the security of the project — balancing these two aspects is perhaps the greatest challenge. 3. Using Bitget’s expertise in off-chain metrics and Nansen’s expertise in on-chain data analysis, how do you assess the true potential of a project? It depends on the growth stage of the project. If the protocol is just about to release a token or has done so recently, there is still too little on-chain data to rely on, so we look at off-chain metrics. First, we evaluate market traction and community — how many people are eligible for the airdrop? How many followers does the project have on social media? These numbers help us assess the market demand for this new protocol. Second, we look at the market pain points the project aims to solve — assuming that technological innovations that meet real market needs have growth potential.  Third, Bitget evaluates the project’s tokenomics — it should be robust enough to ensure the project will be sustainable in the long term. We check if the amount that the project raised in a token sale matches its valuation, assess investors’ reputations, and examine the token unlock schedule. Finally, Bitget verifies the project’s security — we make sure that the smart contract doesn’t have vulnerabilities and that the project doesn’t pose financial, compliance, ethical, and other risks. For already running projects, we use on-chain metrics to score their potential. We ensure the project demonstrates confident trading activity, evaluate its total value locked (TVL), compare the token’s trading volume with its fully diluted valuation (FDV), and apply a number of complex statistical tests. All of this ensures that Bitget users have access to the best investment opportunities and engage with trustworthy projects only. 4. How crucial is community in evaluating a project’s strength? What metrics does Bitget use to assess community strength in early-stage tokens?  Evaluating the community is one of the first things we do when checking a new project. Interest from market participants and users indicates how much the product is in demand. To examine the community and verify the on-chain metrics (if there are any so far), we look into Bitget’s own database of KOLs and top traders and see how they engage with the project. Then, we analyze Google Trends to find out how widely the project is discussed. Finally, we look at the protocol’s social media (mainly X, Telegram, and Discord) to check their follower count, the post engagement rates, and other indicators.  Sometimes, in the project’s Discord channel, OTC trading occurs before the token is listed on any exchange. This also points to a certain level of FOMO around the project, serving as an additional growth factor. 5. Staying on community. What strategies can be used to manage community sentiment during unforeseen challenges such as the delayed CATI token airdrop of the Catizen crypto game and the resulting disappointment of its community?  We believe in transparent communication: when something goes wrong, it is crucial to remain completely honest with the community. It’s natural that when a team struggles to deliver results by the promised time, negative community sentiment arises. However, delays happen for various reasons — sometimes, projects need more time to ensure a high level of product quality, and sometimes, they need to wait out unfavorable market conditions. In any case, it is essential to communicate this transparently with the people — staying in touch and open to discussion helps build long-term trust. After all, users will appreciate the work that has been done even with the delays. The key is to communicate the issues properly. 6. What will be the role of AI in token evaluations? How can smart investors use AI to their advantage for token investments? AI lets us spot things that analysts cannot see with the naked eye. It can process vast amounts of data from social media, news articles, financial reports, and blockchain transactions — and reveal patterns invisible to humans. Algorithms analyze public sentiment, predict future prices based on historical data, evaluate the risk associated with particular tokens, and much more. Importantly, machine learning models continuously improve as they process more data over time. Investors can leverage AI, too, to maximize their profits. AI-driven trading bots can provide deep insights into tokens’ performance, execute trades based on real-time market analysis, and make market predictions. Machine learning models can spot projects’ risks and analyze sentiment around tokens, providing early warnings about market shifts or new opportunities.  AI helps investors gain a strong competitive edge — however, it’s not a panacea. No one, including AI, can predict prices precisely and detect all possible risks. Trading decisions still remain the responsibility of the investors themselves.  The subject matter and the content of this article are solely the views of the author. FinanceFeeds does not bear any legal responsibility for the content of this article and they do not reflect the viewpoint of FinanceFeeds or its editorial staff. The information does not constitute investment or financial advice or an offer to invest.

Many investors feel that investing in Gold and Silver is a safe haven. However, just as many investors buy it as a hedge. That is not the same thing. This is not the first time that the two precious metals have lost just as much ground during the stock market slump. This behavior has been observed in almost every market slump over the last 25 years. Investors who only bought Gold as a risk hedge sell it to provide liquidity for potential margin calls on their equity investments. Silver usually falls more sharply because a potential economic downturn could dampen demand for the industrial metal. However, as soon as the storm has subsided, investors buy back their Gold holdings in particular, which also benefits Silver. This is why Gold and Silver have risen sharply after almost every market slump in the last 25 years. What does it look like now? The influence of Chinese investors has increased massively in recent years. Smart Investors Action shows that investors in the Far East have recently reacted rather defensively. Optimism has practically evaporated. A sustained uptrend is hardly to be expected without an improvement in sentiment among Chinese investors… A similar mood is also evident among western investors. A clear trend cannot be identified in the Smart Investors Action. The lack of drive is likely to contribute to a continuation of the consolidation for the time being, in addition to individual days with ups and downs… Nevertheless, a recovery is possible in the short term… The situation is similar for Silver. No clear tendency on the part of investors, who are usually responsible for the basic trend… Optimists and pessimists currently balance each other out… The after-open action suggests that at least a recovery is possible over the next few days… The spread between the Chinese and western Gold markets remains small. This confirms that we are currently not receiving any bullish support from Chinese investors… The Silver spread, on the other hand, remains in the 15% range. This is basically bullish… But we can also see that the Shanghai Stock Exchange’s holdings have recently increased again. Physical deliveries, on which the Silver bull is dependent, may therefore have decreased recently… Incidentally, Comex Silver stocks have also increased (slightly) since the beginning of the year… Chinese investors have also stopped increasing their investments in Gold ETFs. This also confirms that they are currently holding back… Global interest in Gold ETFs, on the other hand, has finally increased in recent weeks, albeit only very cautiously… The selling of Silver ETFs worldwide, which has been ongoing for three years, also seems to have come to a halt. However, the new purchases of the last few days are of a more cautious nature…   The number of current futures contracts on the Comex rose massively until May 2024. This indicates a high number of speculative investments. An important prerequisite for a new Silver uptrend is a sharp decline in these investments – which has recently been the case… Conclusion: It has often been observed in the past that the Gold price has come under selling pressure along with the stock markets. However, the fact that the Gold price has (so far) not suffered more can be interpreted as a sign of strength. In the case of Silver, the speculative level was previously higher and the economic outlook has recently deteriorated. There is potential for recovery, but a real trigger is needed… Since the beginning of July, the trend among Gold companies has been downward again…   However, the after-open action has already fallen more sharply, so a recovery should be possible. Confirmation comes from the most important Gold mining indices. From the Arca Gold Miners Index… The correction in the XAU Index is already more advanced… And the HUI Index also seems to have reached a level at which stronger buying interest should arise again… The ratios between the Gold miner index HUI and the Oil price as well as the HUI index and physical Gold show that Gold companies need a falling oil price (lower production costs!) in order to keep up with the performance of physical Gold. Somehow logical during inflationary times… The subject matter and the content of this article are solely the views of the author. FinanceFeeds does not bear any legal responsibility for the content of this article and they do not reflect the viewpoint of FinanceFeeds or its editorial staff. The information does not constitute investment or financial advice or an offer to invest.

Gold prices rise due to economic uncertainty, while US oil production growth slows, and global economic outlook remains volatile. Gold Prices Rise Amidst Economic Uncertainty Gold prices have experienced an upward trend, reaching new heights in recent times. This increase can be attributed to several factors, including investor concerns about economic instability and geopolitical tensions. As a traditional safe-haven asset, gold often appreciates in value during periods of market uncertainty. Additionally, expectations of potential interest rate reductions by central banks can influence gold prices, as lower interest rates generally decrease the opportunity cost of holding non-interest-bearing assets like gold. US Oil Production Growth Moderates The United States has witnessed a growth in crude oil production, although at a slower pace than previously anticipated. This moderation in production growth has implications for the global oil market. The OPEC+ group of oil-producing nations may have more flexibility in adjusting its output levels to balance supply and demand conditions. The Permian Basin in the United States remains a key contributor to domestic oil production. Global Economic Outlook Remains Uncertain The global economy continues to exhibit signs of volatility, with currency fluctuations and economic growth concerns persisting. The US dollar, after a period of strength, has shown signs of consolidation. Central banks worldwide are navigating a complex landscape, balancing the need to support economic growth with the imperative to control inflation. Economic data releases from major economies will be closely watched by investors and policymakers as they assess the overall economic outlook and potential policy adjustments.   Main Economic Events for next week: Monthly Budget Statement – Start: 08/12/2024 18:00 – Name: Monthly Budget Statement – Impact: Medium – Currency: USD – Description: This statement provides insights into the U.S. government’s budget balance, reflecting the difference between revenues and expenditures. It can impact fiscal policy discussions and influence investor sentiment towards U.S. Treasuries.   Westpac Consumer Confidence – Start: 08/13/2024 00:30 – Name: Westpac Consumer Confidence – Impact: Medium – Currency: AUD – Description: This index measures consumer confidence in Australia, indicating the level of optimism about economic conditions. A higher reading is positive for the AUD, suggesting increased consumer spending.   ZEW Survey – Economic Sentiment – Start: 08/13/2024 09:00 – Name: ZEW Survey – Economic Sentiment – Impact: Medium – Currency: EUR – Description: The ZEW Economic Sentiment survey measures the six-month economic outlook in Germany. It’s a key indicator of economic health and can influence EUR movements depending on whether the results exceed or fall short of expectations.   Producer Price Index ex Food & Energy (YoY) – Start: 08/13/2024 12:30 – Name: Producer Price Index ex Food & Energy (YoY) – Impact: High – Currency: USD – Description: This index measures the change in the price of goods sold by manufacturers, excluding food and energy. It’s a leading indicator of consumer inflation, and a higher-than-expected reading could prompt concerns about rising inflation, influencing Fed policy and USD strength.   RBNZ Interest Rate Decision – Start: 08/14/2024 02:00 – Name: RBNZ Interest Rate Decision – Impact: High – Currency: NZD – Description: The Reserve Bank of New Zealand (RBNZ) will announce its decision on interest rates. Changes in the rate can have a significant impact on the NZD, influencing inflation and economic growth.   Gross Domestic Product (QoQ) – Start: 08/14/2024 09:00 – Name: Gross Domestic Product (QoQ) – Impact: High – Currency: EUR – Description: This report measures the quarterly change in the inflation-adjusted value of all goods and services produced by the economy. It is the broadest measure of economic activity and a key indicator of economic health in the Eurozone.   Retail Sales (MoM) – Start: 08/15/2024 12:30 – Name: Retail Sales (MoM) – Impact: High – Currency: USD – Description: This report measures the monthly change in the total value of sales at the retail level. It’s a primary gauge of consumer spending, which accounts for a significant portion of overall economic activity in the U.S. A strong reading can boost the USD. The subject matter and the content of this article are solely the views of the author. FinanceFeeds does not bear any legal responsibility for the content of this article and they do not reflect the viewpoint of FinanceFeeds or its editorial staff. The information does not constitute advice or a recommendation on any course of action and does not take into account your personal circumstances, financial situation, or individual needs. We strongly recommend you seek independent professional advice or conduct your own independent research before acting upon any information contained in this article.

OKX CEO Star Xu confirmed that the exchange plans terminate user accounts found engaging with sanctioned entities like Tornado Cash and Garantex. Xu responded to a user’s public call on X, warning others about the risks of using the exchange. In his post, Xu clarified that any accounts depositing funds from or withdrawing to sanctioned entities would trigger compliance risk controls, leading to account closure. He highlighted Russian exchange Garantex and crypto mixer Tornado Cash as examples of such entities. This statement followed a complaint from a user, Satoshi Friends, who warned that users from the Commonwealth of Independent States might face account blocks, frozen funds, and asset loss. Satoshi Friends claimed his account, along with a long-standing referral base, had been blocked. Xu responded by explaining that Satoshi Friends’ account was discontinued due to “significant transactions related with sanctioned exchanges or DeFi protocols.” He added that while the user was allowed to withdraw clean funds, OKX could not facilitate the transfer of account data to a new account, as it would bypass the exchange’s compliance policies. Nevertheless, the news sends an important message to crypto businesses. OFAC itself reiterated that digital asset institutions should take a risk-based approach to sanctions compliance to detect flaws in internal controls. Tornado Cash, a crypto mixer known for obfuscating cryptocurrency movements, has been labeled problematic or illegal by various regulators. The service was recently linked to the movement of 14,500 ether, worth $35.2 million, stolen in the Nomad Bridge exploitation. Tornado Cash developer Alexey Pertsev was recently denied bail in the Netherlands after being sentenced to over five years in prison on money laundering charges. Tornado Cash is a decentralized protocol that provides privacy for transactions on the Ethereum blockchain, allowing users to make anonymous transfers. While private financial transactions are legal, Tornado Cash has been exploited by some users for money laundering. One of the judges characterized Tornado Cash as primarily a tool for criminal activity, which played a key role in Pertsev’s conviction.

Johnny Ng, a member of Hong Kong’s Legislative Council (LegCo), has called on the government and banks to ease restrictions on banking services for crypto and Web3 companies. The lawmaker said that crypto businesses continue to face challenges in opening local bank accounts. In a post on X, Ng highlighted that these difficulties are “hindering their ability to conduct business effectively.” Ng argued about the need for virtual banks to diversify their services and work in complement with traditional banks. He suggested that Hong Kong should upgrade its virtual banking system to manage virtual assets, aligning with the government’s goals for Web3 development. According to a survey conducted by Ng’s team, involving over 120 crypto and Web3 firms that entered Hong Kong after 2022, about 95% had attempted to open local bank accounts. However, 70% of the respondents reported that banks required their shareholders or directors to make multiple visits to Hong Kong. Only 20% of the firms managed to open accounts within two to five months, while 54% took at least six months or longer. The difficulty of opening bank accounts has been a persistent issue for crypto firms in Hong Kong, despite the government’s plans to establishing the region as a crypto hub. In June 2023, Hong Kong introduced a crypto licensing regime, allowing licensed exchanges to offer retail trading services. However, concerns have been raised over the stringent regulations required for obtaining a license, leading some global exchanges, including OKX, Gate.io, and HTX, to withdraw their applications. In 2023, the Hong Kong Monetary Authority (HKMA) reportedly exerted pressure on prominent banks such as HSBC and Standard Chartered to take on crypto exchanges as their clients. Despite regulatory crackdowns in other parts of the world, the HKMA says it aims to create a more inclusive environment for the growth of the crypto sector in the region. During a meeting, Hong Kong’s banking regulator questioned UK-based firms and the Bank of China about their reluctance to establish relationships with cryptocurrency exchanges. Additionally, HKMA advised banking institutions not to place an excessive burden on crypto clients, particularly those looking to establish a presence in Hong Kong, during the due diligence process. According to news reports, the watchdog explicitly mandated financial institutions to assist cryptocurrency firms, referred to as “virtual asset service providers,” in obtaining access to banking services.

The Financial Conduct Authority (FCA) sounded an alarm about a fraudulent clone website that was impersonating Plus500, the Israeli-based but London-stock market listed CFD provider. The watchdog warned investors to watch out for other websites that claim their services were developed or authorized by regulated brands to lure and possibly scam them. The FCA said an attempt by copycat website had been made to reproduce the Plus500 webpages in many areas and context, under the domain, p500.io. To this end, the shady broker was trying to usurp the names and other legal information of Plus500 and try to convince them that they are indeed the authorized firm. FX brokers are among those that have been targeted by rogue operators who clone their names and websites in an attempt to part unsuspecting investors from their cash. The high number of warnings from the City watchdog, which issues clone alerts roughly on a daily basis, underscores the concern in the sector over cloned sites. The regulator pointed out that these scammers often use the name of a legitimate firm, setting up a website with a design that closely resembles the original. This strategy has become a staple among con artists aiming to pass off illegal operations as trustworthy brands. Today’s announcement is the latest in the FCA’s series of warnings about clone firms posing ‎as legitimate approved businesses, to con UK consumers into making Payments for ‎investment services.‎ Among those it warned about this month were unauthorised firms purporting to be affiliated with the financial services group, AT Global Markets (UK) Limited. Clone firms are not an unusual occurrence in the industry, ‎as fraudsters have grown increasingly resourceful in recent ‎years. A commonly adopted tactic is for scammers to ‎advertise an illegal operation as a reputable brand or ‎entity. ‎ The FCA encourages traders or those considering online trading to exercise caution. It is strongly ‎advised against funding an account or investing via this specific company. Anyone who ‎chooses to sign up with the impostor should bear in mind that they will not receive the ‎financial authorities’ assistance should things go awry.‎ We last reported about Plus500 back in July when it reported some financial and operational metrics for the first half of 2024, highlighting higher revenues and EBITDA despite lower market activity towards the end of the period. The company reported revenues of $398.2 million for H1 2024, up 8% compared to $368.5 million in H1 2023. Q2 2024 revenues also showed growth, rising 14% to $182.6 million from $160.6 million in Q2 2023. EBITDA for H1 2024 stood at $183.9 million, up 6% from $174.1 million in the same period last year. For Q2 2024, EBITDA increased by 11% to $81.3 million, compared to $73.2 million in Q2 2023. The EBITDA margin remained strong at 46%, slightly down from 47% in H1 2023.

Budgeting for an MEP project is a critical aspect of construction. It ensures that mechanical, electrical, and plumbing systems are efficient, reliable, and compliant with regulations. Just like in personal finance management, about which you can learn more at Moneyfor, a well-planned budget helps avoid unexpected costs and project delays. This guide will walk you through the essential steps to effectively budget for your MEP project. Understanding MEP Budgeting MEP systems must be meticulously planned and integrated to ensure the overall efficiency of the building. They include heating, ventilation, and air conditioning (HVAC), electrical systems, and plumbing. Budgeting for MEP involves several key steps: Initial planning and design Cost estimation Vendor selection Contingency planning Monitoring and adjusting the budget Here are some tips for each stage of the budget planning process. Initial Planning and Design The first step in budgeting for an MEP project is thorough planning and design. This phase involves: Defining the scope: Clearly outline what the project will entail. Identify all MEP components required for the project. Developing the design: Work with MEP engineers to develop detailed designs. This includes schematics and specifications that meet both client requirements and regulatory standards. Scheduling the project: Establish a timeline for the project. A detailed schedule helps in planning the budget more accurately by identifying when expenses will occur. Cost Estimation Cost estimation is crucial and involves: Material costs: Estimate the cost of HVAC units, electrical wiring, fixtures, and plumbing materials. Labor costs: Calculate the labor costs for installing the MEP systems. Labor costs can vary significantly based on the complexity of the project and local wage rates. Permits and fees: Factor in the cost of necessary permits and inspection fees. Compliance with local building codes is essential and can incur significant costs. Equipment costs: Include the cost of any specialized equipment needed for the installation and maintenance of MEP systems. Vendor Selection Choosing the right vendors can impact both the quality and cost of your MEP project. Consider the following: Reputation: Select vendors with a solid reputation and proven track record. Quotes: Compare quotes from several providers to get a good idea of the prices and services. Contracts: Ensure that contracts are detailed and specify the scope of work, timelines, and payment schedules. Contingency Planning Contingency planning is essential to handle unexpected costs. Include a contingency fund in your budget, it’s typically recommended to account for about 10-15% of the total project cost. This fund can cover: Unforeseen issues: Design changes, delays, or unexpected site conditions can lead to additional expenses. Price fluctuations: Changes in material or labor costs during the project. Monitoring and Adjusting the Budget Continuous monitoring is key to staying within budget. Implement the following practices: Regular updates: Keep track of expenses and compare them against the budget regularly. Adjustments: Make adjustments as necessary. If costs exceed the budget in one area, find ways to cut costs in another. Communication: Maintain open communication with your project team to address any issues promptly. Detailed Cost Breakdown A detailed cost breakdown helps in understanding where the money is being spent. Here’s an example of how you might categorize costs: Category Estimated Cost Materials $200,000 Labor $150,000 Permits and Fees $10,000 Equipment $50,000 Contingency Fund (15%) $61,500 Total $471,500   Tips for Effective Budgeting Here are some tips for effective cost estimation for your MEP project: Early involvement: Engage MEP professionals early in the design process to identify potential issues and cost-saving opportunities. Detailed specifications: Provide detailed specifications to vendors to avoid misunderstandings and additional costs. Energy efficiency: Consider energy-efficient solutions. While they may have higher upfront costs, they can lead to significant savings in the long run. Technology integration: Use project management and budgeting software to keep track of your budget and the progress of the project. Common Challenges and Solutions Budgeting for MEP projects can present several challenges: Challenge Explanation Solution Scope creep As the project progresses, additional features or changes can increase costs. Stick to the original plan as much as possible and manage client expectations. Inaccurate estimates Initial estimates may not always be accurate. Use historical data and expert advice to refine estimates. Regulatory changes Changes in regulations can impact costs Stay informed about regulatory changes and incorporate flexibility into the budget.   Conclusion Budgeting for MEP projects requires careful planning, accurate cost estimation, and continuous monitoring. With our tips, you can develop a comprehensive plan that ensures your MEP systems are completed efficiently and within budget. Proper budgeting not only helps in managing costs but also in delivering a successful project that meets all functional and regulatory requirements. Lastly, effective communication, thorough planning, and proactive management can significantly enhance the likelihood of staying within budget and achieving project success. The subject matter and the content of this article are solely the views of the author. FinanceFeeds does not bear any legal responsibility for the content of this article and they do not reflect the viewpoint of FinanceFeeds or its editorial staff.

EURCHF currency pair can be expected to fall further toward the next support level 0.9400. – EURCHF reversed from resistance area – Likely to fall to support level 0.9400 EURCHF currency pair recently reversed down from the resistance area located between the pivotal resistance level 0.9475 (former monthly low from June, acting as the resistance after it was broken at the end of July, as can be seen from the daily EURCHF chart below). The resistance level 0.9475  was strengthened by the 50% Fibonacci correction of the previous sharp downward impulse from the middle of July. The downward reversal from thus resistance zone continues the active intermediate impulse wave (3) from the end of May. Given the clear downtrend that can be seen on the daily charts and increased Swiss franc inflows on global risk off sentiment , EURCHF currency pair can be expected to fall further toward the next support level 0.9400. EURCHF The subject matter and the content of this article are solely the views of the author. FinanceFeeds does not bear any legal responsibility for the content of this article and they do not reflect the viewpoint of FinanceFeeds or its editorial staff. The information does not constitute advice or a recommendation on any course of action and does not take into account your personal circumstances, financial situation, or individual needs. We strongly recommend you seek independent professional advice or conduct your own independent research before acting upon any information contained in this article.

Iress has partnered with Ediphy to provide its trading customers with a comprehensive fixed-income solution to Iress’ global network. The partnership will provide Iress trading customers with access to a low-cost mechanism to trade fixed income and the ability to source comprehensive liquidity from fixed income providers and venues covering the USA, Europe, and APAC. “Access to additional fixed income liquidity sources” Ediphy is a specialist in fixed-income markets, offering fixed-income execution and workflow automation, large-scale data management, and analytics. The company provides automated execution in government, sovereign, supranational, and agency bonds (SSAs), credit bonds and cleared interest rate swaps (IRS), with aggregated liquidity in excess of 250,000 International Securities Identification Numbers (ISINs). Jason Hoang, Global Trading and Market Data at Iress, said: “We’re delighted to have this key partnership in place with Ediphy. Our customers are increasingly demanding the ability to trade fixed-income instruments, with up to 20% of their order flows being aligned to fixed income as an asset class. This partnership further extends our ability to provide access to additional fixed income liquidity sources globally, without the need to onboard individual venues and liquidity providers.” Christopher Murphy, Chief Executive Officer at Ediphy, said: “Fast-changing market structures and increased investor demand for fixed income securities presents growing challenges for investment managers. Ediphy combines cutting-edge technology with deep market experience to simplify and automate fixed-income trading for investment managers. “We’re delighted to partner with Iress to bring simplicity and automation to their clients’ fixed-income trading, which will further support their community of leading investment management clients.” Iress adds content from Dow Jones Newswires Iress has extended its partnership with Dow Jones Newswires to give Iress news subscribers access to real-time market news covering all asset classes and geographies. The real-time market news is integrated directly into customer workflows via Iress’s market data and trading software. Dow Jones has one of the world’s largest news-gathering operations globally, providing news and business information across multiple formats. Dow Jones Newswires offers global coverage complimented by local reporting expertise in key markets including Australia. Through the partnership, all of Iress’ global market data and trading customers will be able to access premium news from Dow Jones Newswires, including select content from The Wall Street Journal, Barrons, MarketWatch, and Investor’s Business Daily.