Connect with us

Market

Feud between Bridge Oracle and Bitcoin.com Co-founder Mate Tokay Spills Over

Published

on

According to the chief spokesperson from Bridge Oracle, Tokay played a fraud game by not providing the promised services.

The conflict between Bridge Oracle protocol and Bitcoin.com co-founder Mate Tokay has spilled over to the public domain. According to a post by Bridge Oracle that was published in early January, the firm accuses Tokay of violating agreements and launching fake allegations.

Bridge Oracle, a dedicated public oracle technology on the TRON network, initially had hired Tokay to help the firm penetrate different global markets. Notably, Tokay was to act as an adviser to the Bridge. Link project but never provided the services as promised according to the firm.

Moreover, Bridge Oracle stated that it had paid out upfront of 3.5 units of Bitcoin to kickstart the agreement. Further, the company stated that it provided Tokay with 37.5 million Bridge tokens in a locked account, only to be released proportional to the service rendered.

Case between Bridge Oracle and Tokay

According to the chief spokesperson from Bridge Oracle, Tokay played a fraud game by not providing the promised services. Reportedly, Tokay only provided approximately 15% of the contract. Thereby making him not eligible to claim any compensation from the company.

“We had hired such a key figure like Mate Tokay with high hopes but he left us only with futile claims. We know Mate Tokay as a widely connected professional in his industry and he had assured us that he would help us to expand our reach through his esteemed networking acumen. He had also promised that he would publish news with defined amounts in bitcoin.com, host podcasts, weekly meetings, and so on. But in reality, he had not talked to anyone about us, had posted just one PR of Bridge oracle and was almost absent most of the time”, stated the spokesperson.

Bridge Oracle has stated that it will not pay an extra amount since Tokay did not meet the set agreement. Mind you, the company said that Tokay has threatened to tell exchanges not to list Bridge tokens.

“We also can’t left unnoticed that Mr. Tokay has not only failed to provide us the promised assistance but has disrespected the contract and has also threatened us under false accusations,” the spokesperson said.

Mr. Tokay has indicated plans to take legal action against Bridge Oracle, to not only claim his full payment but an extra fee. Besides, Tokay has accused Bridge Oracle of manipulating the market.

Bridge Oracle tokens, which is ranked position 202 by Binance-backed Coinmarketcap, was trading around $0.2821 at the time of writing. Notably, the asset jumped approximately 9.43% in the past 24-hours. Out of the 10 billion total supply of BRG tokens, approximately 80% are in market circulation.

Altcoin News, Blockchain News, Cryptocurrency news, News

A financial analyst who sees positive income in both directions of the market (bulls & bears). Bitcoin is my crypto safe haven, free from government conspiracies.
Mythology is my mystery!
“You cannot enslave a mind that knows itself. That values itself. That understands itself.”



Source link

Market

S&P 500, Dow Jones Closing Month in Gains as Nasdaq Composite Breaks Trend

Published

on

By

Benjamin Godfrey

The broad performance of the S&P 500 and the Dow Jones was backed by the boosted savings rate which came in at 14.9% last month, as well as the consumer spendings that etched upwards by 0.5% per the estimates.

Major US stock indices S&P 500, and the Dow Jones Industrial Average (INDEXDJX: .DJI) have closed the month of May on a positive note after slight gains to Friday’s trading session. While the former grew 0.077% to 4,204.11, the Dow Jones recorded a growth of 0.19%, adding 64.81 points to close at 34,529.45. The Nasdaq Composite (INDEXNASDAQ: .IXIC) also closed the session up with a 0.091% growth to 13,748.74.

For the month of May, the S&P 500 (INDEXSP: .INX) added 0.6%, a growth boosted by the break-in its two- weeks losing streak, after the past week’s growth of 1.2%. The Dow Jones also ended the week with positive growth, surging 0.9% to close the month positively by adding 1.9%. The Nasdaq Composite came off with different performance, closing 1.5% lower to record its worst performance in seven months.

Unusually, the positive performance of the stock indices was not driven by the FAANG stocks or major tech firms. Facebook Inc (NASDAQ: FB) recorded a 1.21% loss to close Friday’s session at $328.73 per share. Apple Inc (NASDAQ: AAPL) dropped 0.53% to $124.61 while e-commerce giant Amazon.com Inc (NASDAQ: AMZN) slipped by 0.22% to $3,223.07. Netflix Inc (NASDAQ: NFLX), and Google’s parent company Alphabet Inc (NASDAQ: GOOGL) also dropped 0.21% and 0.25% with shares cresting at $502.81, and $2,356.85 respectively.

Amid these poor performances, however, Salesforce.com Inc (NYSE: CRM) led the growth in the Dow Jones, after it reported better than expected first-quarter earnings. The stock grew 5.43% to $238.10.

S&P 500, Dow Jones Growth Boosted by Growing Savings Rate

The broad performance of the S&P 500 and the Dow Jones was backed by the boosted savings rate which came in at 14.9% last month, as well as the consumer spendings that etched upwards by 0.5% per the estimates.

This economic metric appears enough for investors as the overall inflation indicated, the personal consumption expenditures index came in at 3.1% for April, a figure that is higher than the projected 2.9%.

“This report puts the Fed in a really good place, inflation is up, but real yields are still low. This is basically the transitory sweet spot,” said Jamie Cox, managing partner at Harris Financial Group.

Other stocks that received increased retail investor activities include Reddit favorite, GameStop Corp (NYSE: GME) which ended the day with a loss of 12.64% after recording impressive growth in the intraday session. GameStop shared are exchanging hands at $222.70 in the After Hours session.

In all, the US stock market is proving to be recovering gradually from the woes of the COVID-19 pandemic. The vaccination program is yielding fruits as economic activities are returning back to the pre-pandemic levels.

next Business News, Indices, Market News, News, Stocks

Benjamin Godfrey is a blockchain enthusiast and journalists who relish writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desires to educate people about cryptocurrencies inspires his contributions to renowned blockchain based media and sites. Benjamin Godfrey is a lover of sports and agriculture.



Source link

Continue Reading

Market

Farming Season Heats Up With SteakBank on BSC

Published

on

By

Kseniia Klichova

With yield farms in full swing, traders are jumping from one high yielding farm to the next in what looks to be shaping up for a defi summer.

For those who want to “stack multiple juicy yields,” SteakBank is backed by big players like Factorial Ventures, Signum Capital, MW Partners, LayerX Capital, Ruby Capital, etc. and has opened its Genesis Farming Period for staking BNB from April 29 to May 13.

The success of the Genesis Farming Period is just another indicator of the massive inroads BNB is making in its foray into defi. Not only is Binance Smart Chain capturing a large amount of newer entries in the defi market but the crypto OGs are buying into the blockchain.

Less Fees, More Opportunities

With less slippage in gas comes more opportunities to try new things. Users with both small and large capital who dabble in defi tend to be more audacious in trying the hottest new protocols, even if it means aping into the chain synonymous with Binance boss Changpeng Zhao.

SteakBank is promising tantalizing rewards: 50,000,000 SBF tokens are being disbursed. 20% will be airdropped to users staking BNB on the platform and 80% of tokens will be airdropped to those who delegate to add liquidity to the LBNB-BNB pool. As of now, SteakBank will only be functioning on Binance Smart Chain in order to mitigate gas costs but will later expand to other chains.

Introducing SBF

$SBF will be the SteakBank governance token. Users who hold SBF will be able to submit and vote on proposals, burn SBF tokens to accelerate the unstaking process, and increase value through supply depletion. SteakBank is touting an automated dynamic staking strategy that ensures users their highest staking reward without having to constantly check, giving them time to take a breath between processes. Early users are calling it the Lido of BNB, Lido being the platform that allows for easy staking of ETH, essentially the risk-off platform for earning interest on their assets.

Hours after the Genesis Farming Launch there were 26,000+ BNB staked and a total value locked of 22+ million USD.

With over $20 million locked into the genesis staking period at the time of publishing, it’s not a matter of if, but when the yields get too juicy to resist. Consider the main issues with BNB staking pools that currently reside on Binance Smart Chain:

  • Delegating to stake your BNB means it will become locked for 7 days.
  • Traditionally in BNB pools, the validators then have power to change yields every 24 hours.

SteakBank fixes this:

  • The SteakBank protocol automatically directs your BNB to the highest yielding validators.
  • Users can also unstake earlier than 7 day, and net it off with people who stake on the same day. This provides more liquidity for our users. Besides, if users are on the queue, and want to quicken up the process, they can also burn SBF to prioritise their unstaking.

Once we have a certain amount of BNB staked, it is also possible for SteakBank to be another individual validator for BSC. It remains to be seen how Changpeng Zhao will choose to scale Binance Smart Chain if he does decide to relinquish control of some validators and extend the network across many protocols, but we strongly believe in the push for decentralization and embracing of newer and more validators.

Give Way to Greater Yield

The early numbers are eye-boggling for a non-leveraged pool so far with the BNB/LBNB pool validator APR at 27% and trending upwards. This doesn’t include staking LBNB in the BNB/LBNB which will give you an additional allocation of free $SBF, the SteakBank governance token.
Binance Smart Chain is definitely not lacking in new projects, which have been springing up at a rate of knots. The quality has been patchy, however, compared to other EVM-compatible networks including Ethereum itself. SteakBank is upping the ante, and is on course to support a long, hot summer of defi yields on BSC.

next Market News, News

Kseniia is the Chief Content Officer of Coinspeaker, holding this position since 2018. Now she is very passionate about cryptocurrencies and everything connected with it, so she tries to ensure that all the content presented on Coinspeaker reaches the reader in an understandable and attractive way. Kseniia is always open to suggestions and comments, so feel free to contact her for any questions regarding her duties.





Source link

Continue Reading

Market

Tether (USDT) Surpasses $50B Market Cap

Published

on

By

After being listed by Coinbase Pro, Tether (USDT) price has experienced sharp growth.

Tether (USDT), the oldest and leading stablecoin in the cryptocurrency market, has surpassed $50 billion market cap. Notably, there has been a significant demand for the dollar-pegged stablecoin, particularly Tether (USDT) as indicated by a sharp increase in daily traded volume.

According to metrics provided by CoinGecko, Tether (USDT) had a daily traded volume of approximately $131 billion. To put the figures into proper perspective, Bitcoin reported a daily traded volume of approximately $59.5 billion, and Ethereum at approximately $36 billion.

Tether (USDT) Market Outlook

There are several factors that have contributed to the success of the stablecoin market particularly the Tether (USDT). Notably, Coinbase Pro announced last week that it would immediately allow “inbound transfers” for USDT in its supported jurisdictions, except for the US state of New York. “Starting immediately, we will begin accepting inbound transfers of USDT to Coinbase Pro. Trading will begin on or after 6 p.m. Pacific Time (PT) Monday April 26, if liquidity conditions are met. Please note that Coinbase only supports ERC-20 USDT,” the company indicated.

After being listed by Coinbase, the only publicly traded crypto company, Tether (USDT) has experienced sharp growth thanks to the bull market. As more retail traders get involved with cryptocurrency trading, the need for stablecoins to take instant profits has increased. Furthermore, they are a form of cryptocurrency as they are backed by blockchain technology. However, Tether is built on the Ethereum blockchain.

Another factor that has contributed to the growth of Tether (USDT) is the fact that Bitfinex and Tether settled with the Office of the New York Attorney General in the landmark case against Tether.

Bitfinex and Tether agreed to pay a fine of $18.5 million to settle damages incurred. However, the ruling noted that Bitfinex and Tether should immediately stop servicing all customers in New York State. “Under the terms of the settlement, we admit no wrongdoing. The settlement amount we have agreed to pay to the Attorney General’s Office should be viewed as a measure of our desire to put this matter behind us and focus on our business. We are pleased that our customers have shown loyalty and commitment to our businesses over the past two years, while this investigation was ongoing,” Tether noted during the ruling.

The stablecoin market has grown astronomically since the onset of the coronavirus pandemic. According to metrics provided by CoinGecko, the entire stablecoin market has a market capitalization of $83,047,307,619. Other notable stablecoins include USDC, BUSD, and DAI that have market capitalization of $13.5 billion, $7.1 billion, and $3.4 billion.

Altcoin News, Cryptocurrency news, News

A financial analyst who sees positive income in both directions of the market (bulls & bears). Bitcoin is my crypto safe haven, free from government conspiracies.
Mythology is my mystery!
“You cannot enslave a mind that knows itself. That values itself. That understands itself.”



Source link

Continue Reading

Trending