The Portuguese football veteran and a true legend in the sport, Luis Figo, is one of the latest athletes who decided to officially promote an initial coin offering (ICO). The football star who is the winner of the 2000 Ballon d’Or and the 2001 FIFA World Player of the Year has become an ambassador for Stryking Entertainment, the company behind the platform Football Stars.
Stryking is a company that seeks to tokenize fantasy sports as well as bring more value to them. Luis Figo found this as the perfect opportunity for collaboration. In a statement along with the official announcement, he said:
“When I heard about Football-Stars for the first time I immediately liked the idea. Football becomes more and more data driven with detailed statistics about all aspects of the game – this is what Stryking’s platform utilizes to create a compelling fan experience. I am happy to support the experienced team at Stryking and spread the word about their platform that allows fans to engage with the teams and players they are backing.”
The official plan is to distribute the STRYKZ token through ICO. However, the details haven’t been released yet. Meanwhile, Figo joins a growing list of football legends and athletes who have endorsed ICOs so far. Some of them include the retired English football star Michael Owen, the boxing legend Floyd Mayweather, the boxing champion Manny Pacquiao, the Barcelona football star Luis Suarez and others.
Meanwhile, the US Securities and Exchange Commission (SEC) changed the founders of Centra Tex (an ICO promoted by Mayweather too) with fraud. Similar is the case with AriseBank, whose ICO has been endorsed by the retired boxing star Evander Holyfield but also charged with fraudulent activities.
Currently, the SEC hasn’t taken any enforcement action against token sales promoted by celebrities. However, they issued a bulletin stating that these celebrity ICO endorsements may be illegal in some cases.
(Image is taken from CoinCrispy.com)
Coinbase Announces New Regulatory Approval For Listing Security Tokens
The major US cryptocurrency exchange Coinbase has apparently received a new regulatory approval to acquire several securities firms. The move could eventually see it supporting trading in tokens which are deemed as securities.
The news comes from a spokesperson who spoke to Bloomberg on behalf of the exchange, stating that both the US Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA) have approved the recently revealed acquisition deals for the regulated firms.
In June 2018, Coinbase announced its plans to purchase three companies (Keystone Capital Corp., Digital Wealth LLC, and Venovate Marketplace) as the means to become a regulated platform for trading security tokens – as well as tokenizing traditional financial assets.
The chief operating officer and president of Coinbase, Asiff Hirji, also indicated that the exchange is seeking licenses as a broker-dealer, an alternative trading system as well as a registered investment adviser.
What’s interesting is that this move comes at the right time, according to many. A time when the US is beefing up scrutiny over cryptocurrency projects (especially ICOs) and could position the firm for a future when current legal gray areas have been regulated under new laws.
As SEC reported, it is currently investigating dozens of token projects. In a public hearing, the chairman Jay Clayton said that he believes that every ICO he has seen so far is a security.
The general manager at Coinbase, Dan Romero, previously told CoinDesk that he wants to add new digital assets requested by customers. According to him:
“When we get to a point that we know which digital currencies and assets are securities, which ones are commodities, money or currency, it would be immensely helpful.”
A couple of days ago, Coinbase also announced its plans for the potential listing of five additional cryptocurrencies on its platform, which positioned many assets in a new surge.
US: A New $20 Million Crypto Fund Has Been Set Up By Indian Investors
India’s strict stance towards cryptocurrencies did not stop one group of entrepreneurs and blockchain enthusiasts to set up a fund within the United States. The group of influential investors from the country raised $20 million and launched B1T Capital which is an US-based incubator that is solely focused on cryptocurrencies.
According to records from SEC, the fund was registered at the end of June in Salt Lake City, Utah. Moreover, the fund raised “close to million dollars” from undisclosed investors with the sole purpose of investing in cryptocurrency startups that are registered in the US via private presales.
According to one B1T Capital partner Utsav Somani, this move was a straightforward choice, knowing the lack of regulations in India. This is why B1T chose the US as a highly-favorable regulatory and technological environment in the US.
As Somani said in an interview with the local publication Inc42:
“There are going to be 500 new crypto funds in 2018 globally. Interestingly, none are from India. B1T Capital is a step towards changing that. India is the most emerging market geography that projects will need access to at some point in their maturity curve.”
He also added that B1T aims to open India’s crypto ecosystem and expand it further. Even though the fund is new, B1T Capital has invested a lot in Orchid which is a distributed marketplace that aims to create a framework for digital citizenship, closing another investment this month.
A New 6% Loss For BTC, ETH,XRP, EOS And BCH, Market Loses $13 Billion
The strong rally and increased volume on the crypto market recently corrected, leading to a new loss for the cryptocurrencies including Bitcoin, Ripple, Bitcoin Cash, Ethereum, and EOS – all recording large losses against the US dollar.
Even though Bitcoin only declined by 1%, Ripple, Bitcoin Cash, and EOS (which are the 3rd, 4th and 5th largest cryptocurrencies by valuation) all lost 6% of their value over the past 24 hours.
This led to a total market cap loss of $13 billion. However, what’s interesting is the fact that the volume of Bitcoin and Ether have both increased. While BTC increased its volume to $4.9 billion, ETH increased to $1.8 billion respectively (from $3 billion and $1 billion last week).
This is why the four-day stability reassured many analysts that the price of Bitcoin will move by a large margin, whether on the upside or the downside. A fall from this level to below $6,000 would force the market to enter a minor correction for the second time in the past month.
Still, analysts think that Bitcoin can break above the $6,700 mark in the next 24 hours. If that happens, the downtrend can transform to a short-term rally. Still, a break above $6,700 is at the time highly unlikely to happen.
When asked about the current market situation, investors are still optimistic.
The CEO of BitMEX, Arthur Hayes, said that Bitcoin will achieve $50,000 by the end of this year but will correct and drop from $3,000 to $5,000 in the short-term.
Clem Chambers, who is the CEO of ADFN (financial data provider) also said that he expects the price of BTC to fall to the $2,000 mark before rebounding and moving back to the all-time high of $20,000 as in December 2017.
Top 4 Blockchain Careers
As this technology upgrades and grows, we can expect to see many career options that are really well paid. In this article, we will tell you about a few possible careers options.
This is probably the best way to start a career in the blockchain. Taking an internship will teach you how to design and develop blockchain solutions, software for blockchain platforms, learn about the distributed ledger technology and much more. It is best before starting as an intern to at least have some knowledge of NodeJS, Java, C++, Solidity, and HTML.
Companies are most interested in this technology. In order to improve and optimize the business process, each business needs to find a blockchain company that can meet their needs. This is why each blockchain company needs to have a manager. The manager is planning and supervising the execution of the project. Also, the manager is the first person business contact when they want a certain blockchain project done.
With the technology growing, company owners are interested in keeping their blockchain-based business legal and have a legal service in any time they need. Attorneys say that in the past few years many clients want advice on how to manage ICOs. Potential clients want advice on how to merge the crypto-system with the existing financial system and create legal agreements.
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