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Coinbase largest staking service for tezos

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Written by   63
1 week ago

​​Coinbase Custody has become the largest staking service for Tezos

Custody Custody Coinbase Custody has become the largest stake operator, despite the high fees for users.

An analyst at The Block, John Dantoni, reports that as of March 30, the service was storing 65 million Tezos (XTZ). The current price of the coin is $ 1.67, so the total service stores XTZ for $ 110 million.

Other major stakeholder services for Tezos are the Kraken and Binance exchanges - 30 and 27 million XTZ, respectively. At the same time, the three largest services store 19% of the total number of coins.

The stakeinning service Coinbase Custody was launched in the spring of 2019. At the same time, the XTZ staking service was not very popular until the end of last year.

So, in terms of the number of coins, Cryptium Labs and Polychain Labs bypassed it. Only in mid-December last year, the number of XTZ in Coinbase Custody exceeded their volume in Polychain Labs.

Interestingly, Coinbase Custody takes the largest commission for XTZ staking - 25%. For comparison, the Kraken exchange commission is 7.25%, and the Binance platform does not charge commission fees at all.

It was recently reported that the Tezos Foundation, which owns $ 635 million in assets, allocated $ 37 million in grants to developers of the Tezos ecosystem for the second half of 2019.

​​Tone Weiss: I would be surprised if Bitcoin ever trades below $ 6,000

Crypto analyst Ton Weiss continues to adhere to the bull line that he took after the collapse of bitcoin prices below $ 4,000 in March and long months of bearish forecasts.

Weis said last week that he was no longer waiting for $ 2,800 bitcoin. “Although in June I was thinking about the possibility of $ 2,800, now I don’t think so. “I think this month’s incident brought the price close enough to $ 2,800, so I don’t wait for $ 2,800 anymore. If I don’t wait for $ 2,800, it’s clear that I don’t expect $ 1,000, $ 1,300 or $ 1,500,” he said then.

In light of the ongoing recovery of the bitcoin market, now Weiss is not even waiting for even $ 6,000.

“An announcement that it was high time to make. As I said in the last two weeks, bitcoin has bottomed out. I will be surprised if he ever closes a daylight candle below $ 6,000, ”wrote Weiss.

At the same time, he called for vigilance, as "those who go all-in in this speculative asset will be destroyed." Weiss himself was going to go all-in at the level of $ 2 750 - 2 950, before that adding positions with the help of limit orders of about $ 4 550 and $ 3 550.

Weiss's new forecast triggered mixed reactions among commentators. Some claim that bitcoin is inclined to do exactly the opposite of what is expected of it, especially when someone tries to name such narrow boundaries. Others argue that the skeptic’s forecast is “a more bullish signal than if CNBC and Peter Schiff told us to sell on the same day.”

This Monday, Bitcoin is again trading above $ 7,000, adding about 4% per day. This is the second rate rise to the current resistance in the last week, signifying an increase of almost 100% from the March lows.

​​Cryptocurrency fraud victims sue Wells Fargo for inaction

The victims of the Q3 cryptocurrency pyramid filed a class action lawsuit against a subsidiary of Wells Fargo Bank, claiming that it ignored the actions of its employee, one of the main operators of the scheme.

The plaintiffs said Wells Fargo Advisors did not investigate the activities of James Seijas, who, being a financial adviser to Wells Fargo, bribed $ 35 million from 150 investors. According to the lawsuit, Seijas, along with certified surgeon Quan Tran and an UBS Securities officer Michael Ackerman created Q3 Trading Club and Q3 I LP in 2017.

Fraudsters lured people into their scheme, many of whom are engaged in medicine, and offered “extraordinary profits” in the cryptocurrency trading. As SEC previously stated, Akerman and his business partners received $ 35 million from 150 defrauded investors. The plaintiffs claim that the operators of the Q3 scheme invested only $ 10 million in cryptocurrencies, and took the rest of the money to themselves. The license fee of $ 4 million, presumably for payment of the trading algorithm, actually got into their personal bank accounts, the lawsuit said.

Seijas worked as a financial advisor to Wells Fargo Advisors for more than five years, leaving the company only in May 2019, according to his LinkedIn profile. He often spoke to potential investors about his work at Wells Fargo to encourage them to invest in the cryptocurrency pyramid.

The plaintiffs claim that Wells Fargo should have verified Sajjas’s activities in accordance with the company’s policy that employees should regularly report such third-party activities. Although the operators of the scheme claimed that the average monthly return on investment was 15%, the lawsuit says the money was mostly lost on speculation.

At the same time, most of the money invested was spent on luxury goods. Seijas and his wife allegedly spent $ 3.5 million on a home in Florida, and Tran $ 1.4 million on a yacht and $ 260,000 on a Bentley car. Ackerman bought three cars and spent $ 100,000 on Tiffany jewelry.

The plaintiffs accused Wells Fargo Advisors of negligence, and Seijas, Tran and Ackerman of fraud and illicit enrichment. Plaintiffs also accuse the founders of Q3 of conspiracy to fraud and distort information, and Wells Fargo is charged with the employer's responsibility for the actions of the employee.

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Avatar for Muhammadhssan
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1 week ago
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Shat i don't get is what blockchain is really Tezos belonging to cuz i am really confused at all on which blockchain it really belong to at all

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1 week ago

Lil ot jyst him but everyone will be hit id bitcoin ever trade at that volume it will be sincerela hit back ooo no one cab stand that at all but we are expecting it in fire up high

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1 week ago