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May 2007

Binance Launches Tezos (XTZ) Margin Trading

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Binance

Binance

The crypto market might be going through a massive slump at this point in time, but that has not stopped the biggest crypto exchanges from introducing new products. In a new development that will come as a further boost to crypto traders, Binance Binance has decided to launch margin trading in Tezos (XTZ) on its platform.

Important News for Tezos

Considering the fact that Binance is the biggest crypto exchange in the world in terms of trading volumes, this is good news for the crypto community and also for Tezos. Despite the current troubles in the crypto market, Tezos enjoyed a rally on the back of the news and hit $1.24 per token.

Tezos has generally been behind many other cryptocurrencies in the recent months, but it should be noted that for crypto traders, Binance has become one of the most important marketplaces for the token. Moreover, the listing on Coinbase has further helped matters for Tezos, since traders in the United States can now get involved as well. That being said, it is also true that margin trading can often prove to be risky and especially in cryptocurrencies with a small market cap.

>> Libra Co-Founder Says It Isn’t Competing With Fiat Currencies

In this regard, it is important to keep in mind that there has been a clear rise in liquidity in Tezos over the recent weeks, and that is directly responsible for this decision from Binance. The introduction of margin trading should come as a boost for Tezos since it will now allow traders to bet on the price of the token. In addition to that, an onset of positive news has also been a blessing for the cryptocurrency, and the market expects it to have success in the upcoming quarter.

Binance has again proven that it is one of the best exchanges with regards to crypto margin trading at this point. The exchange offers margin trading in as many as 27 cryptocurrencies at this point.

Featured image: DepositPhotos © Piter2121

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Bitcoin’s 2017 Boom Largely Fueled by a Single Trader

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Bitcoin

Bitcoin

Bitcoin’s 2017 bull run, which saw the world’s leading digital asset top out at nearly $20,000 USD, was mostly driven by a lone anonymous trader, according to analysis gathered by two finance professors from the University of Texas and Ohio State University.

Professors John Griffin and Amin Shams analyzed over 200 gigabits of data relating to the transaction history between Bitcoin and Tether, another highly controversial stablecoin, and found that the surge in value in late 2017 was attributable to one large player, or a whale in the crypto world, but the identity of the investor remains unknown.

“We find that the identified patterns are not present on other flows, and almost the entire price impact can be attributed to this one large player,” Griffin and Shams wrote. “We map this data across both blockchains and find that the one player or entity (labeled as 1LSg throughout the paper) is behind the majority of the patterns we document.” Their hypothesis is based on the theory that Tether coins, which should be backed 1:1 with USD, are printed with no backing and used to purchase Bitcoin.

“This pattern is only present in periods following printing of Tether, driven by a single large account holder, and not observed by other exchanges,” they wrote in a paper to be published in a forthcoming Journal of Finance.

>> Microsoft Targets Blockchain Tokens: Unveils Platform for Minting Enterprise

The theory that Tether is being used to manipulate the value of Bitcoin and other altcoins is not a new revelation. Last month the coin, and its parent company Bitfinex, were accused of creating “the largest bubble in human history” in a class-action suit. The case alleges that the two companies, and a number of affiliated entities, manipulated the crypto market out of up to $1.4 trillion USD by printing unbacked coins.

Meanwhile, Bitcoin has ended a three-month bear run after gaining over 10% in October. The double-digit gains mean the digital coin has outperformed gold prices for the first time since June, which is considered a useful barometer of its performance given their reputations as safe-haven assets. BTC is currently valued at $9,448 USD.

Featured Image: DepositPhotos © freedomtumz

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Ethereum Underperforms Against Bitcoin | What Next for Altcoins?

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Ethereum

Ethereum

As everyone knows, the price of Bitcoin has a profound effect on the entire crypto market, and as the price of the world’s biggest cryptocurrency rose steadily over the first half of 2019, the entire crypto market profited. However, since July, Bitcoin has definitely entered choppier waters, and now the momentum has gone out of its sails. That being said, it is Ethereum, long considered to be the only possible rival to Bitcoin, which has found itself in the middle of a free fall.

Will Ethereum Recover?

More importantly, Ethereum (ETH) has declined at an alarming rate when its price is correlated to that of Bitcoin, and experts believe that it could prove to be a bad development for the many altcoins.

Ethereum had long been regarded as the main alternative to Bitcoin, but that is clearly no longer the case, and experts now believe that holders of other altcoins might not have to brace for further losses in their portfolios. Since the bull run that took place from January through to June was primarily fuelled by Bitcoin, it is only natural that BTC has become far more important in the world of crypto than it has ever been. Consequently, more money has been taken out of cryptos like Ethereum and other altcoins to be invested in Bitcoin.

>> Crypto Criminals Take in $4.3 Billion in 2019, CipherTrace Reports

The weakness in the altcoin market can be best demonstrated by each coin’s respective performance in July. Although it is true that Bitcoin faced a lot of challenges due to the announcement of Facebook’s Libra and comments from powerful regulators, its price did not drop as much as that of many altcoins. Bitcoin ultimately dropped by 6.8% during the course of the month. However, the situation was totally different for altcoins like Ethereum as they gave up as much as 20% through the course of July. If such a trend continues, then it is almost certain that more losses are in store for altcoins.

Featured image: DepositPhotos © Primakov

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Victory Square Technologies Welcomes New Additions to Advisory Board

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Victory Square further expands its advisory team to increase growth and opportunities for shareholders

  • Victory Square (VST) builds, acquires and invests in promising startups, then provides the senior leadership and resources needed to fast-track growth. The result: rapid scale-up and monetization, with a solid track record of public and private exits.
  • VST portfolio consists of 20 global companies using artificial intelligence (AI), blockchain, virtual and augmented reality (VR/AR) to disrupt sectors as diverse as fin-tech, insurance, health, and gaming.

VANCOUVER, British Columbia, Oct. 16, 2019 (GLOBE NEWSWIRE) — Victory Square Technologies Inc.(“Victory Square” or the “Company”)(CSE:VST)(FWB: 6F6)(OTC:VSQTF) is very excited to announce that Rizwan Somji, CEO of Channel Gate Technologies, cannabinoids industry pioneer Soheil Samimi and award-winning journalist, Fabian Dawson have joined Victory Square’s advisory team.

The Victory Square advisory team includes industry veterans with extensive backgrounds in the growth, operations, finance, and legal sectors. They provide support to our portfolio companies and help them with commercialization and building scalable businesses. Their additions make the Victory Square team even stronger and provide new structural support to our portfolio companies.

Rizwan Somji

Rizwan (Riz) is the CEO of Channel Gate Technologies, an industry-leading digital supply chain management software, along with its subsidiaries: Cymax, Homesquare, and Freight Club. With a strong emphasis on a personal connection, Rizwan believes in the impact strong and approachable leadership can have. Riz originally joined Channel Gate (then known as Cymax Stores) in 2015 as the VP, Technology, and rapidly moved into the role of COO by the spring of 2017. Within his role of COO, he was responsible for the organizational operations on a day to day basis, while also leading a change in corporate culture towards data-driven, accountable and results-oriented. It was under his leadership that the company reached profitability, and continues to see growth. Riz moved into the CEO role in January of 2019 and continues to lead his teams with empathy and clear direction.

Soheil Samimi

Soheil Samimi is a recognized industry veteran and pioneer in the Hemp and Cannabinoids industry in North America. His various hands-on experiences include being the founder and CEO of a private BC-based company that provided the largest distribution of bulk extracts and white label finished goods in the CBD category across Canada. He was an early investor and former Director of a leading US-based CBD products manufacturer, where he was a key member of the acquisition team which took the company public and grew it to represent a market cap in excess of $250M. He currently serves on the Board of Directors of AgTech Scientific, where he is a founder and significant investor. AgTech Scientific has extensive hemp cultivation, extraction, and manufacturing activities in Kentucky, USA.

Fabian Dawson

A multiple-award-winning journalist, Fabian Dawson is an internationally acclaimed author, filmmaker, and media expert. His work over the last three decades spans the globe and he also serves as a consultant/strategic advisor to a variety of international companies. Dawson was named the 2019 recipient of the Bruce Hutchison Lifetime Achievement Award at Jack Webster Awards, which is one of the most prestigious journalism accolades in Canada. Until August of 2016, Dawson, 58, was the deputy editor-in-chief of The Province newspaper in Vancouver, which is part of the Postmedia group, Canada’s largest media organization. As a journalist, Dawson’s work has taken him all over Asia, Europe, North, and Central America. He serves as an editorial advisor to the Vancouver-based South Asian Post, Asian Pacific Post, and Filipino Post newspapers as well as several publications in Korea, Hong Kong, Malaysia, India, Singapore, Philippines, and England. Dawson is a much sought-after media commentator on Asian affairs and has been called to speak to Members of Parliament in Canada’s House of Commons on matters pertaining to national security and at international seminars sponsored by organizations like the United Nations. Dawson has been invited by the governments of India, Malaysia, Taiwan, China, Hong Kong, and the United States to act as a media observer/advisor on a variety of Asian-Canada issues.

“We’re tremendously excited to add entrepreneurs of this caliber to our advisory board. The experience and knowledge base that these gentlemen bring to the table can be applied across business sectors and we expect they’ll be able to bring a great deal to our portfolio companies moving into 2020 and beyond,” said Shafin Diamond Tejani, CEO of Victory Square Technologies. “Reinforced by these new additions, our team continues to support our portfolio companies as they maximize their growth and accelerate their path to commercialization with well-executed scalable business models,” Tejani added.

Check out VictorySquare.com and sign up for VST’s official newsletter at VictorySquare.com/newsletter.

ABOUT VICTORY SQUARE TECHNOLOGIES INC.

Victory Square Technologies Inc. (CSE:VST)(FWB: 6F6)(OTC:VSQTF)  builds, acquires and invests in promising startups, then provides the senior leadership and resources needed to fast-track growth. The result: rapid scale-up and monetization, with a solid track record of public and private exits.

VST’s sweet spot is the cutting-edge tech that’s shaping the 4th Industrial Revolution. Our portfolio consists of 20 global companies using blockchain, AR/VR, and AI to disrupt sectors as diverse as fin-tech, insurance, health, and gaming.

What we do differently for startups:

VST isn’t just another investor. With real skin in the game, we’re committed to ensuring each company in our portfolio succeeds. Our secret sauce starts with selecting startups that have real solutions, not just ideas. We pair you with senior talent in product, engineering, customer acquisition and more. Then we let you do what you do best — build, innovate and disrupt. In 24- 36 months, you’ll scale, monetize and be ready for public listing or private sale.

What we do differently for investors:

VST is a publicly-traded company headquartered in Vancouver, Canada, and listed on the Canadian Securities Exchange (VST), Frankfurt Exchange (6F6) and the OTCQX (VSTQF). For investors, we offer early-stage access to the next unicorns before their unicorns.

Our portfolio represents a unique liquid and secure way for investors to get access to the latest cutting-edge technologies. Because we focus on market-ready solutions that scale quickly, we’re able to provide strong and stable returns while also tapping into emerging global trends with big upsides. For more information, please visit www.victorysquare.com.

ABOUT THE CANADIAN SECURITIES EXCHANGE (CSE)

The Canadian Securities Exchange, or CSE, is operated by CNSX Markets Inc. Recognized as a stock exchange in 2004, the CSE began operations in 2003 to provide a modern and efficient alternative for companies looking to access the Canadian public capital markets.

FORWARD-LOOKING INFORMATION

This news release contains “forward-looking information” within the meaning of applicable securities laws relating to the outlook of the business of Victory Square, including, without limitation, the strategic direction of the Company, and its goal of broadening its portfolio of interests in innovative companies. Such forward-looking statements may, without limitation, be preceded by, followed by, or include words such as “believes”, “expects”, “anticipates”, “estimates”, “intends”, “plans”, “continues”, “project”, “potential”, “possible”, “contemplate”, “seek”, “goal”, or similar expressions, or may employ such future or conditional verbs as “may”, “might”, “will”, “could”, “should” or “would”, or may otherwise be indicated as forward-looking statements by grammatical construction, phrasing or context. All statements other than statements of historical fact contained in this news release are forward-looking statements. Forward-looking information is based on certain key expectations and assumptions made by the management of Victory Square. Although Victory Square believes that the expectations and assumptions on which such forward-looking information is based are reasonable, undue reliance should not be placed on them because Victory Square can give no assurance that they will prove to be correct. Actual results and developments may differ materially from those contemplated by these statements. The statements contained in this news release are made as of the date of this news release. Victory Square disclaims any intent or obligation to update publicly any forward-looking information, whether as a result of new information, future events or results or otherwise, other than as required by applicable securities laws. The Canadian Securities Exchange has neither approved nor disapproved the contents of this news release and accepts no responsibility for the adequacy or accuracy hereof.

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