2gether, a financial platform specialized in cryptocurrency trading that operates in 22 countries in Europe, launches its 2GT token in the international market.

2gether will release a Finance protocol that will allow users from any country can buy the token by exchanging Ethers for 2GT at a starting price of 5 cents. The proposal is of 10 million 2GT (about 500,000 euros) and will set its arrangement for seven days. The token will be available through the decentralized Bounce.

Ramón Ferraz, CEO of 2gether, explains that the rise of cryptocurrencies has made 2gether hit its historical record in recent months. In January, it reached 37 million euros in cryptocurrency operations as well as in balances. This event brought a positive balance on 2GT in the app, running 83% from December to January.

2GT could only work from the 2gether app, where there has been a purchase of more than 27 million 2GTs in the last three years. The token brings the Founder Plus software, with different levels and other advanced features for users to enjoy with 2GT in the app.

Users can prescribe a bonus for sections that will apply its effect until the token appears in Uniswap. All members of the 2gether community have the same operating conditions. 50% of the Ethers (ETH) earned in the Bounce campaign will find a spot in the ETH / 2GT pool on Uniswap in March.

Users will now be Able to Issue their 2GT to External Wallets

Every user can buy and betray 2GT and/or put solvency in the pool gaining 0.3% of profitability. From the 2gether app, users will be able to issue their 2GT to external wallets or deposit them. Since the value of the 2GT token relates to the initial value it also has in Uniswap, there will be no possibility of arbitration.

The 2GT token is an ERC-20 token that alleges the utility token nature. Its usefulness is a secret for tokenized models’ success, and then the 2GT will continuously be expanding. The company launched its token on its platform in February 2018 for several purposes:

Promote the creation of new tokenized economies, providing the necessary incentives for their expansion. Distribute the thesis’s value in the form of rewards among users who are considered, in turn, Founders of the thesis.

Run the company’s relationship dummy with its users, allowing Founders to work with cryptocurrencies without commissions and benefit from the rest of the Founder Plus Software’s advantages.

During this year, due to the trauma the pandemic caused, the company dared to multiply users by 5, reaching 80,000 active users under its platform.

In this sense, the growth engine of 2gether has always been the Founders themselves (those users who have more than € 10 in 2GT), inviting new users through the referral software and capturing value within the community itself.

By: Jenson Nuñez

Reports say that Lohan is asking for Daft Punk’s NFT of about 8.8 ETH. The sale took place right after the announcement about the separation of the mythical duo of electronic musicians.

The controversial Holywood actress Lindsay Lohan, who recently spoke about herself as a lover and user of the cryptocurrency ecosystem, sells a Daft Punk non-fungible token (NFT) for $ 15,000.

 This sale comes as part of the separation of the mythical pair creator of some of the electronic genre’s most memorable musical pieces.

Although this event takes on superior validity in light of the duet’s dissolution, a report published by the Decrypt medium highlighted that Lohan put said token up for sale yesterday, right before the separation of the members of the musical group.

Lindsay Lohan is Selling a Daft Punk’s NFT

Non-fungible tokens, better known as NFTs, are tokenized property titles on a particular item or product that usually relate to the possession of artistic works such as images and collectibles.

In this case, the NFT that Lohan is currently offering guards relationship with Daft Punk’s former members’ stylized image. They wear those respective iconic costumes they use in videos and live presentations.

Said token would be trading through the Rarible platform, and the actress is changing it for an amount that circles USD 15,000 in Ethereum, which would be equivalent to an estimated 8.8 ETH.

According to a report by the Decrypt medium, that token initially belonged to a user called “Daft Punk,” which is somehow associated with the band’s mythical members, and also commercialized said NFTs to other alleged associated accounts, like Mark Cuban, Tyga, and Beeple.

Lohan Decides to Sell this Token, and Fans are Expressing their Sadness

Although certain inconsistencies between the moment that Lohan put the token up for sale at that price and when the band announced their separation, the fact is that this event takes place at a time when many fans express their sadness for the band’s split.

Daft Punk is a considerable reference to music culture today. Many collectibles associated with the group will emerge on various platforms and markets, reaching high prices once users verify such collectibles’ authenticity.

Although the sale of this Daft Punk NFT by Lohan is logical, to date, it has not received outstanding offers from the community. The highest amount Lohan has received for the token is about USD 88, which would have to pay a surcharge of more than an additional USD 20 due to the high commission costs currently handled by the Ethereum network.

In the world of art, entertainment, and sports, NFTs are acquiring more and more relevance, and the crypto industry is seeking the right opportunity to capitalize on these ownership options.

Also, there are more and more platforms, games, and ways to acquire NFTs. The Brave browser partnered with Origin to support NFT purchases from its Swag Store virtual store.

By: Jenson Nuñez

Cryptocurrency exchange Bitfinex and its subsidiary Tether, which leads the USDT stablecoin, set a deal with the New York Attorney General’s Office to cancel an amount that circles$ 18.5 million. The exchange happened after two years, in a time that both companies received accusations of illegally offering services, covering up operations, and covering the truth about the backing of the cryptocurrency.

Tether clarified that neither they nor Bitfinex admitted any fault and that the penalty payment shows their desire to put that matter behind and start anew. Regarding the alleged issuance of USDT without backing, the company said it found no evidence on the subject and the suspected manipulation of cryptocurrencies’ prices.

Tether said in a statement that the settlement resolves allegations about a loan that Tether made to Bitfinex when Bitfinex encountered challenges in accessing approximately $ 850 million in funds held by a payment processor in 2018. These developments are well known. The loan serves as a guarantee to the continuity of Bitfinex clients.

According to Tether, the loan has already been prepaid with interest and without affecting its ability to process exchanges. In the document, the company stated about the nature of that prosecution’s, saying that call should have made a better public disclosure about what happened.

Tether expressed its gratitude to the prosecution staff for their “cooperation and professionalism.” At the same time, Bitfinex posted on its Twitter account that the “agreement shows our commitment to the future of the industry.”

To serve as providers of more precise information about their operations to investigators, Bitfinex and Tether handed over more than two million documents to authorities in January. The Attorney General of the State of New York (NYSAG) was the individual requesting the data.

Prosecutor’s Office and its confrontation against Bitfinex and Tether

There is no conciliatory tone from the New York Attorney General’s Office and the prosecutor Letitia James. Her position is quite contrary to both companies’. In the prosecution statement, the judicial process intends to stop the fraudulent and deceptive activities of Bitfinex in New York. Also, there is a situation with 850 million dollars in losses that might be undercovered worldwide.

The entity highlighted Tether did not have access to banking and had no way to demonstrate the support of the stablecoin Tether back in 2017. Besides, a series of bank transfers shows that the prosecution aims at Tether’s legitimacy to verify the funds.

Tether is currently working with a capitalization that surpasses 34 billion dollars. According to CoinGecko records, the capitalization is around $ 35.8 billion. This capitalization ranks Tether as an important cryptocurrency behind bitcoin, ether, and Binance Coin.

Back in April 2019, prosecutor James accused them of trading securities in New York without permission. The prosecutor even brought to light 28 pieces of evidence against both companies.

By: Jenson Nuñez

Bill Gates sustains his argument about why Bitcoin is too speculative and anonymous.

In the words of Bill Gates, co-founder of Microsoft and one of the richest men in the world, Bitcoin is too speculative and anonymous. These thoughts also reflect that the cryptocurrency only works for sophisticated billionaires like Elon Musk.

In an interview yesterday led by the journalist Emily Chang of Bloomberg TV, Bill Gates highlighted some critical issues such as the Covid-19 pandemic, which has caused more deaths than a war; misinformation on social media; the investigations on Mars and the possibility of creating a new habitable planet; the reduction of the carbon footprint and Tesla’s role in this matter; digital money and Bitcoin.

Gates and Bitcoin: Users Must be Careful

According to Gates, a user should not explore Bitcoin if he is not as rich and “sophisticated” as the CEO of Tesla, Elon Musk, who keeps talking more about cryptocurrencies Dogecoin or Bitcoin on Twitter. And whose company, Tesla, bought last month USD 1.5 billion in BTC.

The journalist asked Gates what he thought of Musk achieving a single tweet to raise or lower Bitcoin. Gates replied that Elon Musk is a wealthy man and a very sophisticated character so that he won’t suffer any consequence by Bitcoin going up or down randomly or suddenly.

When asked about Bitcoin, Gates said: “Elon has a lot of money and is very sophisticated. I’m not worried about Bitcoin going up or down randomly […] My general thinking would be… if you don’t have enough money or more than Elon, you should be careful.”

Gates worries that people who don’t have a lot of money to spend “will get into these fads, but they can’t have that much money to spare.”

He also criticized two things about Bitcoin: the first was that such cryptocurrency requires too much energy (Gates is an environmental defender) and the fact that the transactions are anonymous and irreversible. However, Gates does consider digital money a good thing if users can track it and see who makes the transactions because it provides convenience and low cost.

He reiterated that the Gates Foundation, during the pandemic, is efficiently getting money and other aids to citizens. He says that, although it does not have the visibility of Bitcoin, “the movement of digital money towards which we commit is something very positive and will reach the poorest countries.”

Gates’s been talking about Bitcoin quite often when he hadn’t done it for years. Last week the billionaire mentioned that although he did not own BTC, he was “neutral” concerning Bitcoin. Before that, in 2018, he had said that Bitcoin was one of the craziest and most speculative things to invest. Gates thought back in 2018 that bitcoin would maintain a connection to the drug business and that dealing with cryptocurrencies brings high risks to investors.

By: Jenson Nuñez

Those who issue stablecoins must meet liquidity requirements on cash reserves. Facebook should adhere to these regulations before launching its stablecoin in the eurozone.

The European Central Bank (ECB) seeks the power of veto and a wider range of supervision over the launch of cryptocurrencies. This would include proposals like Facebook’s stablecoin DIEM, previously known as Libra.

Stablecoin issuers should meet “rigorous liquidity requirements” on cash reserves, similarly to money market funds, says the ECB.

In recent days, the European Central Bank introduced a bill and a modification of a regulation on the cryptocurrency markets. This stems from a bill that they submitted on September 24^th, 2020. The Council of the European Union and the European Parliament had previously made a series of requests.

According to the current document, called “Opinion of the European Central Bank”, it is necessary to evaluate the risk in the conditions of stablecoins. Since these pose a potential threat to the financial stability of the eurozone, they should “fall under the exclusive competence of the ECB”.

The text notes that major stablecoin issuers must regularly apply stress tests. They should consider scenarios of financial stress, such as interest rate shocks, and non-financial, such as operational risk.

One section deals with specific observations on financial stability and prudential aspects of supervision. They argue that an institution should notify the ECB when it issues a white paper intending to provide cryptocurrency-related services.

The ECB should have the last word on the possibility of enabling the launch of a stablecoin in the euro zone. This should not jeopardize their control over inflation or payment security.

The Boom of Bitcoin and Other Cryptocurrencies Worries Banks

The rise of cryptocurrencies, especially stablecoins, whose value derives from one or more fiat currencies worries the world’s central banks. They fear that this could negatively affect the control of payments, banking, and ultimately, money supply.

On September 24^th, 2020, the European Commission proposed a comprehensive regulatory framework for cryptocurrencies. That document would make them a financial instrument that the ECB should regulate.

The bill “Regulation of the market in crypto assets” (MiCA) would provide this economic block with clarity on what a crypto asset constitutes. It would also provide rules on cryptocurrency custody and capital requirements, as well as the relationship between the issuer of tokens and their holder.

According to the ECB, Facebook should adhere to this regulation before launching its stablecoin proposal in the eurozone. The company intended to launch its cryptocurrency, initially called Libra, with the support of a basket of fiat currencies. However, they scaled down the project in 2020 after receiving advice on regulatory matters.

The ECB drew their attention to companies selling tokens pegged to various fiat currencies. He told them that they “should give end-users at least one direct claim on the issuer, reserve assets, and exchange rights.”

ECB President Christine Lagarde said that it is necessary to regulate Bitcoin globally so that it does not become a safety valve. Lagarde recently considered that “international cooperation and multilateral action are necessary” to promote strong regulation on Bitcoin.

By Alexander Salazar

The CEO of Kraken, Jesse Powell, came out to defend the exchange after a wave of criticisms by many users regarding the events that occurred last Monday when the price of Ethereum (ETH) suffered a significant fall.

ETH / USD market in Kraken recently capitalized a significant fall that took the digital currency to levels close to USD 700 per unit, a price that was significantly different from the average managed in other exchanges where it is it was trading at least $ 1,500.

Following the rare events that took place on the platform and in the face of criticism from many worried and upset users, Powell reported in an interview with Bloomberg News that “they were in the investigation process” and still haven’t found evidence of malfunction by engines within Kraken.

Powell is Defending Kraken

After the first investigations, Powell reported through his Twitter account that this weird behavior in the exchange of ETH for USD appears to happen due to “extreme sales,” discarding the possibility that what happened had to do with failures within the platform.

With these words, the CEO of the exchange firmly rejected every single allegation coming from some users and analysts, which dared to accuse Kraken as responsible for the irregularities that occurred, clarifying that these irregular fluctuations also damaged markets of other digital currencies within the platform.

A member of the @CoinMetrics team, Kevin Lu reflected on the situation and presented a message thread detailing what happened: “Today’s market crash is brought to you by Kraken’s malfunctioning trade matching engine.”

Faced with these remarks by Lu, Powell replied: “Hi Kevin, I’m a fan of @coinmetrics but don’t you think it’s irresponsible to make misleading, disparaging, and defamatory statements based on your speculation, without any direct information? I’m sure you can think of a plausible alternative. Hope you issue a correction.”

Powell Even Made a More Aggressive Approach

When reviewing some posts from affected users, Powell turned into a much more aggressive stance in the face of criticism, responding in almost non-conciliatory terms than those seen in previous posts.

To a user that showed his disgust about the stance that Powell took when confirming that what was happened to the cryptocurrency was due to crypto whales’ movements, the manager replied: “Yes. Our job is to secure your funds, not tell you how to trade. Please don’t trade on leverage if you don’t understand the risks. “

Ethereum Price Fell Down

The events within Kraken happened right when the price of Ethereum showed a notable drop, a relatively high margin of commissions for operations within the network is at work.

By: Jenson Nuñez