CZ Rejects SBF’s $40M Offer to Create Futures Exchange Binance CEO Changpeng “CZ” Zhao turned down a $40 million offer from former FTX CEO Sam Bankman-Fried in March 2019 to create a cryptocurrency futures exchange, as revealed in Michael Lewis’ book “Going Infinite.” This proposal was a departure from Binance’s existing model, which focused on spot cryptocurrency trading. After careful consideration, Zhao opted to develop an in-house futures exchange. Bankman-Fried later went on to establish the now-famous FTX exchange in May 2019, which faced financial difficulties and bankruptcy by November 2022. His ongoing criminal trial in New York is connected…
Author: Patoski
411 Finance In the ever-evolving world of finance, staying informed about the latest financial services and solutions is crucial to making sound decisions. One term that has been garnering attention is “411 finance.” In this comprehensive guide, we will delve into all you need to know about 411 finance, exploring what it is, its potential benefits, and why it’s gaining popularity. What Is 411 Finance? 411 finance” is not a commonly recognized financial term. In general usage, “411” is a slang term originating from North America, particularly the United States, that means to provide information or to give someone…
Introduction In the ever-evolving world of cryptocurrencies, investors are constantly seeking opportunities to maximize their returns while minimizing risks. One avenue that has gained immense popularity is investing in crypto hedge funds. These specialized investment vehicles offer a diversified portfolio of cryptocurrencies managed by seasoned professionals. In this article, we will delve into the top 7 crypto hedge fund companies, providing a comprehensive overview of each, their strategies, performance, and what sets them apart in this dynamic market. In my previous article, we gave a detailed explanation of what crypto hedge fund are and the immense impact they have on…
So, as the cryptocurrency space keeps growing, a lot of organizations and big institutions are beginning to set their sights on the industry. Over the past few years, there has been an influx of hedge fund investment in the crypto space, and in this article, we will be talking briefly about crypto hedge funds while also giving some basic guide on how to start a crypto hedge fund company in the industry. This article, however, does not guarantee you success in creating your hedge fund company, as there are a lot of unknown factors that I will not be…
Ethereum Staking Platforms Liquidity Surge Ethereum’s liquid staking platforms are witnessing remarkable growth, with the addition of 640,000 ETH, valued at approximately $1.04 billion, in just the last 20 days. Among the 23 decentralized finance (DeFi) protocols offering liquid staking, the top five have reported substantial gains over the past 30 days. Lido, one of the leading players, saw a 30-day increase of approximately 6.32%. As of 1 p.m. ET on Friday, Lido was managing 8.65 million ETH, worth $13.97 billion. Twenty days prior, Lido held 8.38 million ETH, representing 73.98% of the market share. With its current holdings, Lido’s…
Walmart Metaverse Retail Ambitions Walmart’s vision for the future of retail involves a transformation that melds physical and virtual shopping experiences. The retail giant is set to revolutionize the way customers shop by allowing them to purchase real-world versions of items they encounter or use in the House Flip virtual environment. Walmart’s strategy includes integrating new decor items from brands like Mainstays and Better Homes and Gardens into House Flip. This innovation empowers users to explore these virtual items and seamlessly transition to buying their physical counterparts. Thomas Kang, Walmart’s General Manager of Metaverse Commerce, explained that customers will have…
Price Action Trading PDF Guide For Beginners Price action trading is arguably the most traditional form of trading, especially for traders who make use of charts, as it involves the study of historical price movement and market behavioural patterns in predicting and speculating future price movement of the market instruments. As talked about in my previous article, I was able to properly explain the basic concepts and guides involved in price action trading, which mostly involves the interpretation of price movement without the assistance or help of modern trading indicators. This, therefore, means that the trader must have a deep…
Introduction Price action refers to the behavioural pattern of the price of an instrument (commodities, currencies, stocks, cryptocurrencies, etc.) over a certain period. These price actions are mostly represented through the use of charts. Price action trading, on the other hand, can be referred to as the process in which the traders use the price action data to analyze and speculate the potential or future direction of a particular instrument (commodities, currencies, stocks, cryptocurrencies, etc.). The traders are able to use the price movements and historical data shown on the chart to predict the future positions or direction of the…
Consumer finance accounts play a crucial role in the financial lives of individuals and families around the world. These accounts encompass a wide range of financial products and services designed to meet the diverse needs and goals of consumers. In this comprehensive guide, we will delve into the world of consumer finance accounts, exploring their various types, benefits, and considerations. By the end of this article, you will have a clear understanding of what consumer finance accounts are and how they can help you manage your finances effectively. What Are Consumer Finance Accounts? Consumer finance accounts, often referred to as…
Three Arrows Capital Founders Hit With Ban Source: Coindesk The Monetary Authority of Singapore (MAS) has imposed a nine-year prohibition order on the founders of Three Arrows Capital, effectively barring them from engaging in Singapore’s regulated financial services industry. This order extends to Su Zhu and Kyle Davies, preventing them from participating in any regulated activities and assuming managerial roles, directorships, or substantial shareholding positions in capital market services firms, as outlined in the official announcement. MAS’s decision to issue the prohibition order stems from its prior investigation into Three Arrows Capital. In June 2022, MAS reprimanded the fund for…