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February 25, 2021
Comments Off on CoinEx makes a record
On February 23, CoinEx revealed that it has successfully burned 1.08 billion CoinEx Token (CET). These tokens were actually for allocation to the team that works at CoinEx. Many exchanges started following this team token strategy. It became a means to boost the team’s morale and did wonders in terms of marketing. Sources have revealed that this CET burn is the highest of all time by this exchange.
What is CET?
In 2018, CoinEx launched a privilege & service-oriented token. This token provided extra value to the holders and gave them special recognition. Traders could use it for purchasing cryptocurrencies 
at discounted trading rates. Soon after CoinEx started burning CET at a rapid pace to increase its scarcity. Which yielded extra returns to CET holders. That’s not all, holders of CET tokens are also given many other trading privileges and discounts.
A person with more than a given CET becomes a VIP on CoinEx. This attracts many benefits. Users get multiple discounts, more withdrawal limits, and also a dedicated customer portal. CoinEx’s motive behind this is to encourage holders to hold their tokens for the long-term.
Why did CoinEx Burn CET?
In the world of cryptocurrencies, the meaning of burning is very different. The term burning means sending a usable token into a sealed account. This not only removes that token from the supply, but it also increases their scarcity. To better understand this concept, you can relate it with “buying back shares.” The effects of both the situation are similar on the company that is buying back its shares.
By burning CET CoinEx will reduce the total number of tokens in supply. This makes the remaining tokens that are in circulation more and more valuable. This results in generating a positive return for holders of CET.
How is it Done?
On July 1, 2018, CoinEx decided to invent the burning of CET. They planned to quarterly re-purchase and burn CET at regular intervals. They use 50% of their daily profits from fees to re-purchase CET from the secondary market every day. Then they burn it each quarter. They plan to repeat this cycle until the circulation reaches 3 billion CET.
Although this plan was not so successful at the early stages. But the burning plan has shown a massive increase in their revenues recently. They also have a public portal where everyone can check the live stats of CET.
What is the Current Circulation of CET?
After 
CoinEx burned 1.08 Billion CET, 4.34 Billion CET are circulating remaining. This accounts for roughly 115 Million USD in market capitalization. In addition, the current burning by CoinEx far exceeds the total mined output of this token. This means it is already in the state of deflation that can yield high returns for investors.
About CoinEx
CoinEx is a Hong Kong-based global crypto exchange which started in late 2017. CoinEx runs on a proprietary trading system. As it helps in providing a fast, secure, and easy-to-understand crypto trading platform. The seed funder for this exchange was a Bitmain-led investor. It is also a subsidiary of the crypto giant ViaBTC group which runs the largest BCH mining setup in the world.
February 23, 2021
Comments Off on Thai Crypto Traders have to Show Income Statements
There are rumors about the implementation of a new rule for Crypto users in Thailand. As bitcoin rallied its way to $40K, then to $50K Thailand has seen massive growth in Crypto investors. Sources say, most of these investors are partially young with limited crypto knowledge. After noticing this unusual 
surge falling prey to the lucrative crypto profits. The Thai Government is taking strict measures to regulate cryptocurrencies. In order to save such investors and their money from such high-risk assets.
Details about the Proposed Rule
The new rule implicates investors to showcase their income statement. After this, retail investors will have to provide their tax returns to open a trading account. The SEC’s secretary in general Ruenvadee Suwanmongkol presented this opinion. This discussion took place in her interview on Friday. Thailand has licensed only six exchanges to trade in crypto.
The rule suggests, only those with the necessary knowledge should invest in crypto. Regulators can ensure this by screening every investor interested in trading. After this, investors are in deep trouble as there are many not eligible to trade. Now they have to opt for licensed finance managers to invest in cryptocurrencies
She also stated, most of the investors are partially young including teenagers & students. Hence, it’s crucial to regulate domestic exchanges. Ruenvadee also agreed that more and more people have started investing in cryptos. But was against such decisions due to its enormous risk and volatility.
Why is Thailand Planning to regulate Crypto?
After the country tackled the Coronavirus pandemic. It has faced huge losses due to the falling hospitality industry. Not to forget most of the tax revenue generated in the country was from its hospitality industry. Thailand is the 2nd largest economy in Asia growing steadily in the crypto market. During this, Bitcoin drew even more attention. Soon after the coin crossed its $1 Trillion-mark last week.
Ruenvadee 
also said that the total revenue of trading platforms tripled in January. In December it was around $700 Million that raised to $2 Billion in January alone. Data provided by the SEC suggests that 90% of that trading revenue came from Thai citizens.
After this, many official authorities are planning to regulate the currencies increasing outbursts. Thailand is also among the list of countries that are against crypto. Therefore, they want to bring out the riskier side of the currency.
Other important details from the Interview
These rules will be out in the coming week by Thai regulators. After which a public hearing will happen to inform all the citizens about this amendment. This hearing will occur in the first week of March’21.
SEC’s secretary in general, Ruenvadee Suwanmongkol had some interesting things to share. She said Thailand will also notice its first crypto coin developed by a local company. And revenues generated from property rental services will back the token, she said.
February 22, 2021
Comments Off on Mark Carney is now a Board of Director in Stripe
On Sunday, Stripe revealed Mark Carney’s inclusion in the directors group. Mr. Mark Carney used to be Bank of England and Canada’s governor. He played a vital role in pivoting the role of digital currency at both banks.
After officially joining Stripe, let’s see how things work. Mr. Mark has an extensive career of 
over 13 years at Goldman Sachs. He has worked in various branches including London, Tokyo, and New York. He is currently the VC of an Asset Management company based in Toronto.
over 13 years at Goldman Sachs. He has worked in various branches including London, Tokyo, and New York. He is currently the VC of an Asset Management company based in Toronto.Will this benefit Stripe?
Carney joined few days after rumors started floating about its primary funding round. Some say Stripe is preparing for an IPO, whereas the company says all of this is just a rumor. After announcing this, Stripe now has a total of 7 Board of Directors. Carney will be joining Christa Davies, Jonathan Chadwick, Diane Greene, Michael Moritz. There are 2 more members on the table, Patrick & John Collison who are the co-founders of Stripe.
As per the official statement, Stripe aims to use Carney’s experience in global finance. They want to take advantage of his governance quality and use it for their benefit. Stripe’s value was at $20 Billion in 2018, which increased to $36 Billion in April 2020. The company’s growth amidst the pandemic was unbelievable. They went from $36 Billion to a valuation of close to $115 Billion post-Covid-19.
Now, the company is planning to raise around $100 billion from the market. With plans to grow their business across Asia, this IPO can be one of 2021’s biggest IPOs.
In December a senior executive mentioned that Stripe plans to cover Southeast Asia.
What are the services offered by Stripe?
Stripe is a financial service provider which also works in the SaaS sector. It offers payment solutions along 
with programming services for e-commerce websites. Stripe is popular for its digital payment products that you can use for payments. In April 2020 Stripe raised close to $600 Million. After this, the company’s valuation jumped to $36 Billion.
with programming services for e-commerce websites. Stripe is popular for its digital payment products that you can use for payments. In April 2020 Stripe raised close to $600 Million. After this, the company’s valuation jumped to $36 Billion.Many Fintech companies saw massive growth in the Pandemic. As most of their customers were sitting at home. Due to which they spent more time managing their finances remotely.
Other remarks by Stripe and Mark Carney
Mr. Mark is one of the most influential economists and also a very good banker. He is currently the VC of an Asset management company that controls Assets worth $500 Billion. Stripe stated their interest in the knowledge he has about Global financial markets.
The nature of commerce has changed drastically, said Mr. Carney. Pointing out that Stripe has played a major role as a front in pivoting the new digital economy. He is interested to help Stripe in the coming years. Where the company will build the required global infrastructure. That will enable Stripe to use the Internet as their driving force for economic growth.
February 20, 2021
Comments Off on How did Cryptocurrencies evolve from nothing to everything?
The year 2021 has to be the most bullish year history has ever seen in the crypto markets. Who would have guessed this about bitcoin that initiated as an experiment one decade ago? Eventually pioneering a global revolution in 
financial markets. Let’s unravel the mystery beyond cryptos evolve. Also, how they changed the financial markets. Our interesting insights will let you know more about the evolution of cryptocurrencies.
financial markets. Let’s unravel the mystery beyond cryptos evolve. Also, how they changed the financial markets. Our interesting insights will let you know more about the evolution of cryptocurrencies.Introduction of Cryptocurrency and Bitcoin
The first crypto-currency invented under the pseudonym of Satoshi Nakamoto came in 2009. Bitcoin came in as an Electronic peer-to-peer cash system. It used cryptography to manage creation and allotment which also evolved as Blockchain. 2010 was when the currency earned some value-priced at $0.00001 per bitcoin in a notorious event. Bitcoin protocol followed several hard-forks to upgrade minor flaws in the system.
In 2013, many organizations started accepting BTC. This kept increasing year after year. After which the revolution of bitcoin mining initiated the growth at a faster pace. Bitcoin remained bullish up-until 2017 when Bitcoin marked its ATH of $19,500. Along with 1500+ alternate coins hovering around it. Soon after this, the crash happened and the rest is history.
Evolution of Cryptocurrencies
Every emerging market has its ups & downs, cryptocurrencies are no exception. There were a lot of regulatory bodies that were against its evolution. But, the power of acceptance and popularity shattered all shackles. And emerged as one of the leading financial markets of all time.
The factors that helped Cryptocurrencies evolve:
· Acceptance from Users:
If people were not ready to accept change. The survival of bitcoin would have been questionable. Many renowned entities accepted the change as bitcoin. This eventually created a value for this experimental currency which kept increasing.
· Decentralized Nature:
People knew banks and other financial organizations were not trustworthy. They were aware that the money they saved was filling the pockets of others. But as bitcoins are a decentralized currency. Therefore, people knew no-one will benefit from them. This made BTC more likable for people. As they started to realize the importance of decentralization.
· Vast Popularity:
Any commodity that promises return like such will eventually earn popularity. There were people praising bitcoin everywhere because they were generating huge profits. Therefore, bitcoins popularity rose.
· The depreciating value of fiat currencies:
Most of the countries are printing a large quantity of hard-cash, especially the US. As a result, the monetary 
value will decrease and inflation shall increase. The makers of bitcoin predicted the depreciation of the value of real money. Many people realized this ideology after years and started investing in crypto.
value will decrease and inflation shall increase. The makers of bitcoin predicted the depreciation of the value of real money. Many people realized this ideology after years and started investing in crypto.· Need for a new financial system:
As most of the government regulates cash flow and how fiat currencies operate. Many people are unhappy with the current financial operations. But with the invention of the peer-to-peer cash system. The involvement of a 3rd party became baseless as it also provided the payer with anonymity. Therefore, cryptocurrencies evolved. This resulted in cryptocurrencies evolving as the new financial body. Managed by nodes and automation.