After a very bad year, this is a much-needed shot in the arm for Tezos.
Tezos, the Blockchain project which once boasted the world's most successful ICO and which has been mired in lawsuits for more than a year, has now been listed on South Korean cryptocurrency exchange Coinone.
The price of Tezos jumped dramatically earlier today, which could possibly have been the result of the announcement. It currently has a market capitalisation of $965.7 million, according to coinmarketcap.com.
This is a much-needed shot in the arm for Tezos, whose token in a general decline since being launched in July 2018.
Why has it been in decline?
Tezos began with promise but has had many problems.
It is a blockchain network which can support smart contracts, in the same way as Ethereum. It was created by husband and wife pair Kathleen and Arthur Breitman of Boston and raised $232 million in its ICO in July 2017. At the time, this was the most money ever raised in this way.
The proceeds were handed to a non-profit foundation in Switzerland that was set up specifically for this purpose.
However, the Breitmans soon found themselves in a bitter legal dispute with the head of the Tezos Foundation, Johann Gevers, while at the same time facing three separate class action lawsuits from investors who accused them of selling unregistered securities.
They were initially not able to release money from the foundation to pay for the suits because of the former, but eventually, Gevers resigned. The lawsuits are ongoing.
After finally launching the project in June 2018, Tezos once again annoyed investors by telling them that they had to give their personal information to a third-party company, a requirement that was not mentioned when they gave the money in the first place.
Perhaps as a way to regain them some legitimacy, the Breitmans announced in July 2018 that giant accounting corporation PricewaterhouseCoopers would be auditing the company.
Coinone and South Korea
Coinone of Seoul is one of the biggest cryptocurrency exchanges in South Korea. It has traded $22.8 million in the last 24 hours, according to coinmarketcap.com.
In April 2018, it opened a branch in Indonesia and in May its Payments arm, Coinone Transfer, began using Ripple's xCurrent product.
The listing is significant because it opens a new fiat currency up for Tezos trading. However, the news is not as significant as it would have been even a few months ago when Coinone was processing more than $100 million worth of cryptocurrency trades every day.
Volumes on South Korean cryptocurrency exchanges have fallen drastically since the country's financial watchdog, the Financial Services Commission, began introducing new rules to govern them in June 2018. These include customer identification and tax obligations, as well as the Korea Financial Intelligence Unit being assigned to supervise customer activities.
The millions of dollars' worth of cryptocurrency stolen from the country's biggest exchange in June didn't help much either.
Tezos, the Blockchain project which once boasted the world's most successful ICO and which has been mired in lawsuits for more than a year, has now been listed on South Korean cryptocurrency exchange Coinone.
The price of Tezos jumped dramatically earlier today, which could possibly have been the result of the announcement. It currently has a market capitalisation of $965.7 million, according to coinmarketcap.com.
This is a much-needed shot in the arm for Tezos, whose token in a general decline since being launched in July 2018.
Why has it been in decline?
Tezos began with promise but has had many problems.
It is a blockchain network which can support smart contracts, in the same way as Ethereum. It was created by husband and wife pair Kathleen and Arthur Breitman of Boston and raised $232 million in its ICO in July 2017. At the time, this was the most money ever raised in this way.
The proceeds were handed to a non-profit foundation in Switzerland that was set up specifically for this purpose.
However, the Breitmans soon found themselves in a bitter legal dispute with the head of the Tezos Foundation, Johann Gevers, while at the same time facing three separate class action lawsuits from investors who accused them of selling unregistered securities.
They were initially not able to release money from the foundation to pay for the suits because of the former, but eventually, Gevers resigned. The lawsuits are ongoing.
After finally launching the project in June 2018, Tezos once again annoyed investors by telling them that they had to give their personal information to a third-party company, a requirement that was not mentioned when they gave the money in the first place.
Perhaps as a way to regain them some legitimacy, the Breitmans announced in July 2018 that giant accounting corporation PricewaterhouseCoopers would be auditing the company.
Coinone and South Korea
Coinone of Seoul is one of the biggest cryptocurrency exchanges in South Korea. It has traded $22.8 million in the last 24 hours, according to coinmarketcap.com.
In April 2018, it opened a branch in Indonesia and in May its Payments arm, Coinone Transfer, began using Ripple's xCurrent product.
The listing is significant because it opens a new fiat currency up for Tezos trading. However, the news is not as significant as it would have been even a few months ago when Coinone was processing more than $100 million worth of cryptocurrency trades every day.
Volumes on South Korean cryptocurrency exchanges have fallen drastically since the country's financial watchdog, the Financial Services Commission, began introducing new rules to govern them in June 2018. These include customer identification and tax obligations, as well as the Korea Financial Intelligence Unit being assigned to supervise customer activities.
The millions of dollars' worth of cryptocurrency stolen from the country's biggest exchange in June didn't help much either.
ASIC Scores Legal Victory: BPS Financial Found Guilty in Qoin Wallet Case
Network, Learn, Grow | FMAS:24
Network, Learn, Grow | FMAS:24
Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
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Get ready to mark your calendars for FMAS:24, returning this May! Take a quick glimpse of what awaits at the Sandton Convention Centre in Sandton, South Africa from May 20-22, 2024.
Don't miss out on this 5-second invite packed with energy and urgency!
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
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Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
Follow FMevents across our social media platforms for news, insights, and event updates. Connect with us today:
🔗 LinkedIn: https://www.linkedin.com/showcase/financemagnates-events/
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Don't miss out on our latest videos, interviews, and event coverage. Subscribe to our YouTube channel for more!
Here's a sneak peek into the FMAS:24 vibrant atmosphere! Join us at Africa’s premium financial event for a transformative experience that combines the best of finance and technology.
From May 20-22, 2024, the Sandton Convention Centre in Sandton, South Africa, will be the hub for over 3,500 attendees to engage in unparalleled networking opportunities, learn from over 150 industry-leading speakers, and explore innovations from 120+ exhibitors.
Secure your free ticket now 🔗 https://events.financemagnates.com/yQx0l?utm_source=youtube&utm_campaign=fmas-is-back&utm_medium=video&RefId=FMAS24+Video+Ad+%5B1%5D
#fmas24 #fmas #fmevents #financeinafrica #traders #investors #affiliates #forexTraders #investmentOpportunities #B2BNetworking #finTech #Innovations #TradingCommunity #BusinessOpportunities #AfricanBusiness #Johannesburg #southafrica
📣 Stay updated with the latest in finance and trading!
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Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 | Africa's Premium Financial Event
Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
📣 Stay updated with the latest in finance and trading!
Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
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Looking to expand your network in #Africa? Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
📣 Stay updated with the latest in finance and trading!
Follow Finance Magnates for news, insights, and event updates across our social media platforms. Connect with us today:
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Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Join 3500+ Attendees at FMAS:24 - Africa's Premium Financial Event
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Looking to expand your network in #Africa?
Join 3500+ attendees at FMAS:24, where online trading, fintech, payments, and crypto meet! Connect with industry leaders and innovators for an unmatched networking experience.
20-22 MAY 2024
Sandton Convention Center, Sandton, South Africa
Register now to secure your spot: https://bit.ly/3JbUpCK
#fmas #fmas24 #fmevents #networking #finance #africa
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Where the Prop Trading Industry Goes from Here | Finance Magnates Podcast
Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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Explore the tumultuous world of prop trading in this Finance Magnates podcast episode, featuring insights from Head of Axi Select, Greg Rubin.
We're discussing the challenges and shifts caused by MetaQuotes' pivotal decisions affecting MT4 and MT5 users, and how Axi Select offers a unique, realistic path to professional trading, steering clear of traditional prop firm pitfalls.
Tune in for expert analysis on the future of trading and innovative funding models.
The Axi Select programme is only available to clients of AxiTrader Limited. CFDs carry a high risk of investment loss. In our dealings with you, we will act as a principal counterparty to all of your positions. This content is not available for AU, NZ, EU and UK residents. For more information, refer to our Terms of Service. Standard trading fees apply.
This content is provided solely for general informational purposes and should not be construed as financial product advice or an investment recommendation. It has been prepared without considering your personal circumstances.
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