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ABN AMRO Clearing Chicago Joins the Paxos Settlement Service

Other clients of the Paxos Settlement Service include Bank of America, Credit Suisse, Instinet, Societe Generale, and Wedbush.

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Paxos, a regulated blockchain infrastructure platform, announced on Monday that ABN AMRO Clearing Chicago had joined its settlement service, becoming the sixth broker-dealer client in doing so. According to the press release, the firm has been operating a pilot phase of the settlement service under the US Securities and Exchange Commission (SEC) supervision.

Bank of America, Credit Suisse, Instinet, Societe Generale, Wedbush, among others, are among the ones who already partnered with the blockchain infrastructure platform to use the service, dubbed ‘Paxos Settlement Service.’

“We’re pleased to add ABN AMRO Clearing to our platform as we transform post-trade infrastructure in the securities industry. Paxos has demonstrated an ability to innovate and deliver compelling enterprise-grade solutions in a complex and high-value market. By working closely with our industry clients, we’ve been able to streamline back-office processes, offer scalable same-day net settlement, and enable opportunities for business development,” Greg Lee, Managing Director of Paxos, commented on the announcement. Currently, Paxos is on the stage of a full clearing agency registration application with the SEC. Additionally, after being green-lighted by the US regulator, the firm expects to deploy further multilateral netting processes in real-time to settle transactions.

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Interactive Brokers Partnership

Last week, Interactive Brokers LLC announced the official launch of its cryptocurrency trading services through Paxos. The brokerage’s clients are now able to trade and custody assets, such as Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), and Bitcoin Cash (BCH). Also, the firm said that crypto trading on the platform would have commissions of between 0.12% and 0.18% of the trade value, depending on the monthly volume.

“Consumer interest in accessing digital assets through trusted intermediaries is driving a shift in the financial industry. Paxos provides the regulated blockchain infrastructure to ensure enterprises can enable crypto safely and with reduced risk,” Charles Cascarilla, CEO and Co-Founder of Paxos, pointed out at that time.

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Source: https://www.financemagnates.com/institutional-forex/abn-amro-clearing-chicago-joins-the-paxos-settlement-service/

Blockchain

Billionaire Peter Thiel Thinks Bitcoin Crossing $60,000 Is A Pretty ‘Hopeful’ Signal — Here’s Why

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Billionaire Peter Thiel Thinks Bitcoin Crossing $60,000 Is A Pretty ‘Hopeful’ Signal — Here’s Why

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Peter Thiel, the billionaire founder of Palantir and co-founder of PayPal, is doubling down on Bitcoin. 

Peter Thiel: Bitcoin Is The “Most Honest Market”

Bitcoin has climbed back past $60K after its early 2021 parabolic run slowed. The bitcoin price has added 2.79 percent over the last 24 hours, taking it within touching distance of its all-time highs. BTC hit $64,490 on Tuesday — just shy of the 64,804 high set in April.

BTCUSD Chart by TradingView

Thiel claimed that the world’s largest cryptocurrency by market cap topping the $60,000 mark was a very optimistic signal.

“I don’t know that you should put all your money into bitcoin at $60,000 a bitcoin right now. But surely the fact that it is at $60,000 is an extremely hopeful sign,” Thiel said recently during a conference hosted by the Stanford Federalist Society.

Bitcoin’s fresh rally comes as the first-ever bitcoin-linked exchange-traded fund (ETF) is greenlighted in the United States. The ProShares Bitcoin Strategy Fund launched on the New York Stock Exchange under the ticker BITO with an opening price of $40.88. The bitcoin futures-based ETF registered over $1 billion of trading volume on its first day, making it the largest in terms of “natural” volume. 

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The venture capitalist went on to describe bitcoin as the “most honest market” in the U.S. He touted the crypto’s latest price rise as the “canary in the coal mine”, which might suggest that the current “decrepit” regime is on the verge of exploding. 

“It’s the canary in the coal mine. It’s the most honest market we have in the country, and it’s telling us that this decrepit regime is just about to blow up.”

Thiel, an outspoken Silicon Valley supporter of former US President Donald Trump, harbors the opinion that the Biden administration is shaping up as an absolute “catastrophe”.

Thiel has been known for his interest in the crypto space. His billion-dollar big data analytics company Palantir already accepts bitcoin as a payment option. Moreover, he earlier declared that Bitcoin could become a financial weapon for China against the United States. Thiel has also opened a Bitcoin mining facility in West Texas.

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Source: https://zycrypto.com/billionaire-peter-thiel-thinks-bitcoin-crossing-60000-is-a-pretty-hopeful-signal-heres-why/

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Ethereum Breaks $4,000, All-Time High Unavoidable?

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The Ethereum rally continues and seems to be moving into FOMO levels. At press time, the second crypto by market cap has blasted through the major resistance at $4,000 and moves fast into price discovery.

Related Reading | Ethereum Looks Set To Explode As 400,000 ETH Exits Coinbase

Ethereum records a 4% and 14% in the daily and weekly charts, respectively. The euphoria in the market seems to be driven by the launch of a Bitcoin-linked ETF in the U.S.

The market has positively responded to this event and has allowed Ethereum and Bitcoin’s price to surge with a spike in institutional demand, as several experts have pointed out.

Unlike some predictions, the ETF event doesn’t seem to be operating as a “Buy the rumor, sell the news” or a trigger for another capitulation event.

In lower timeframes, Ethereum must hold above current levels to turn $4,000 into support and allow the rally to follow through in case of potential downside risk.

As pointed out by pseudonym analyst John Wick, Ethereum entered a “volatility squeeze shading” with a bullish trend, as indicated in the image below. The analyst added:

Squeeze shadings precede violent moves that are often the start of new trends. Green bars say probability to the upside!

Ethereum ETH ETHUSD
Source: John Wick via Twitter

In that sense, losing the $3,000 area could signal a potential trend reversal to the downside. However, the second cryptocurrency by market cap could make a 5x profit from here.

Related Reading | Ethereum Supply Shock Grows As Reserves Decrease, ETH 2.0 Contract Increases

Ethereum ETF On The Way, Bulls With More Ammo In-Store

Analyst Justin Bennett believes the key for more upside actions relies on Bitcoin. If the benchmark crypto can continue its upwards trend uninterrupted, Ethereum could follow right into its May trend line, as the analyst claimed.

Ethereum ETH ETHUSD
Source: Justin Bennett via Twitter

This could send Ethereum as high as $20,000 for 2022. In support of this theory, QCP Capital recorded an increase in ETH-based options with $10,000 to $50,000 strikes to be expired by March 2022 on the rise.

Related Reading | TA: Ethereum Breaking This Barrier Could Spark a Significant Surge

With the launch of the Bitcoin ETF, QCP Capital noted the following on the future of Ethereum:

As we mentioned in our previous post on ETFs, long-term attention seems to be shifting from BTC to ETH with potential ETH ETF release after BTC, coupled with ETH V2 catalyst.

Ethereum ETH ETHUSD
Source: Skew via QCP Capital

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Source: https://www.newsbtc.com/news/ethereum/ethereum-breaks-4000-all-time-high/

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ADAyield lending protocol announce token private sale after massive success in seed sale

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ADAyield lending protocol announce token private sale after massive success in seed sale

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Adayield is a lending platform where users can hold their assets and receive interest or borrow tokens and repay it after a while. Like other currency market protocols, Adayield is built on cardano network, open-source, and non-custodial Defi protocol. Two principal roles are supplier and borrower.

Adayield in full operations will provide borrowers with better interest than competitors, a new mechanism for determining interest rates is considered, choosing each market’s borrowing interest rate. Based on this mechanism, the borrower will repay the system at a more stable rate than other platforms. The interest received from the borrowers is distributed among the suppliers according to the amount they have provided. 

Features of Adayield Protocol

The Adayield team provides some practical and more user-friendly features to make borrowers and lenders satisfied with their goals. Furthermore, Adayield has some competitive variables that we can assure you haven’t seen in other DeFi platforms before.

Protocol Governance: The $AYID token can be used to govern various components of Adayield platform, including the futures protocol, exchange parameters, and protocol upgrades via a DAO structure. Governance decides to burn, liquidity mining, or other usages by voting on the proposals submitted.

• Burning: The portion of the Adayield income will undergo a buy-back-and- burn event to accrue value for $AYID.

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• Liquidity Mining: Governance can plan to distribute a specified number of $AYID tokens daily weighted by each network participant’s liquidity. In fact, Liquidity mining in the world of DeFi refers to the process of depositing or lending designated token assets with a mining mechanism to provide liquidity for the product’s fund pool and thus obtain an income. This mechanism will increase the number of users and interacts with the platform.

•Permission-less: Lend on any pairing. Our governance will ensure that the best offers are available and that only the safest oracles are used.

• Staking: taking is particularly useful for large stakeholders who want to ensure maximum protection of their funds while supporting the network and getting rewards for it. This method removes the tokens from the circulation and event to accrue value for $AYID.

•Ecosystem Foundation Layer: Attract assets and build incentives that can empower an ecosystem of financial products.

Investors who did not take part $AYID Token seed sale can now participate in $AYID Token Private Sale and become an early adopters of $AYID Token at a discounted price. 

Here’s the link to the private sale: https://adayield.net/?page_id=119 

Social Media:

Twitter: https://twitter.com/adayield 

Discord: https://discord.gg/wkxxeRYE 

Medium: https://medium.com/@Adayield 

Media Details

Company Name: ADAyield Finance

Contact Name: Nader Poordeljoo 

Email: Support@adayield.net

Location: UAE, Dubai

Website: https://www.adayield.net 

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Source: https://zycrypto.com/adayield-lending-protocol-announce-token-private-sale-after-massive-success-in-seed-sale/

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