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Bitcoin (BTC) Institutional Adoption: Goldman Sachs Launches Own Crypto Trading Team

The institutional adoption of crypto as an investment has really become a fact. The US investment bank has announced in an internal memo to its employees that it has set up a crypto trading team. The American television channel CNBC has seen the memo.

Founded in 1869, Goldman Sachs is one of the largest investment banks in the world. The bank has over $ 2 trillion in assets under management and 40,000 employees. That Goldman Sachs is now setting up its own crypto trading team is therefore big news. Cryptocurrency in Spain is popular.

According to the memo, the new team will be part of Goldman Sachs’ branch focused on global currencies and emerging markets. In the memo, Rajesh Venkataramani, partner at the bank, writes:

https://youtu.be/atvJwwec_2A

“I am pleased to announce the creation of the cryptocurrency trading team, which will be our centralized desk for managing cryptocurrency risk for our clients. The Crypto trading team will be part of Global Currencies and Emerging Markets (GCEM) and will report to me within the company’s Digital Assets effort led by Mathew McDermott. ”

Venkataramani reports in the memo that the team has already traded some Bitcoin (BTC) NDFs and CME BTC futures. The team will further expand its presence in the crypto market in the future. It is therefore likely that other cryptocurrencies will also be traded. Venkataramani further adds to the announcement: Netherlands cryptocurrency is popular.

“In addition, yesterday we launched our Digital Assets dashboard, which provides our clients with daily and intraday market data and cryptocurrency news. We invite you to bring the dashboard to the attention of your customers. For more information about trade approval and onboarding, please contact the Digital Assets team. ”

US financial watchdog is after Uniswap

The United States financial watchdog is investigating the world’s largest decentralized cryptocurrency exchange Uniswap. The Wall Street Journal reports that the Securities and Exchange Commission (SEC) has launched an investigation into Uniswap Labs, one of the largest developers behind Uniswap.

WSJ’s article states that prosecutors are now seeking information about Uniswap’s marketing and investment services. The newspaper relies on anonymous sources.

Uniswap Labs is serving

A spokesperson for Uniswap Labs said the company is committed to complying with the laws and regulations applicable to the industry and to provide information to regulators that will assist them with any investigation.

Uniswap is a decentralized exchange that allows users to trade Ethereum-based coins and tokens without a central entity. Folm.io cryptocurrency has enough information. The exchange is the largest of its kind, and V3 had a trading volume of $1 billion in the past 24 hours, according to CoinMarketCap.

No surprise from SEC

Cointelegraph contacted the SEC, but they declined to comment. The same was true for Uniswap. In itself, it comes as no surprise that the SEC is going after DeFi. Chairman Gary Gensler last month announced plans to develop more rules for DeFi, stablecoins and ICOs.

In late August, the regulator signed a $125,000 deal with blockchain analytics firm AnChain.AI to get technical support in monitoring and regulating the DeFi industry.

In July, Uniswap removed dozens of tokens and tokenized shares from its trading platform due to increasing regulatory pressure. “We are following the changing regulatory landscape,” Uniswap said, pointing to similar moves by other DeFi players.

Central intermediaries are taboo

In a way, DeFi follows the ethos of bitcoin, but injected with anabolics. It is a blockchain-based form of financing that does not rely on central intermediaries. Instead, transactions are executed through automatic protocol mechanisms known as smart contracts

In accordance with DeFi principles, decentralized exchanges (DEX) such as Uniswap do not have a central person or team responsible for executing the protocol. https://renovato.io/ has enough information. This protocol is managed and controlled automatically or by the participants. That’s also why the SEC can’t stop loose DeFi protocols, just like the police can’t ring the doorbell of the director of bitcoin.

According to entrepreneur Alistair Milne, regulators can’t shut down DeFi protocols like Uniswap, but they can potentially make DeFi transactions illegal in a similar way to transactions on the dark web.

MATIC price prediction as Polygon partners with DraftKings

MATIC is trading in a relatively tight range after Polygon partnered with DraftKings. Through the deal, DraftKings will use Polygon’s technology for its NFT marketplace. Polygon’s ecosystem has more than $4.5 billion worth of TVL.

The price of Polygon (MATIC) held steady on Monday, even after the developers announced a major deal with DraftKings. The MATIC price is trading at $1.4965, which is slightly below the weekend high of $1.6285.

Partnership Polygon and DraftKings

Polygon is the largest Layer 2 blockchain project in the world. MATIC, the original token, has a market cap of over $10 billion, making it the 21st largest token in the world. Polygon helps developers optimize their Ethereum-built applications. Visit Renovato.io Crypto website for enough information. It does this by solving some of the biggest challenges Ethereum faces, such as slow speed, scalability and higher transaction costs.

To date, hundreds of projects have been built using Polygon’s platform. Some of the most popular are Curve, Aave, and SushiSwap. In all, all of these applications have a total value-locked (TVL) of over $4.5 billion.

Draftkings

On the other hand, DraftKings is one of the largest gambling companies in the world. It has a total market cap of over $20 billion and is in the process of acquiring Entain for approximately $22 billion.

Now DraftKings and Polygon are working with the former using Polygon’s technology. Exactly, DraftKings will use Polygon to power its Marketplace service. DraftKings will also be a validator of Polygon’s nodes. Validators are parties in a proof-of-stake network that are given the opportunity to verify blocks. In a statement, the DraftKings CEO said:

“Scalability and sustainability remain one of the critical challenges of blockchain technology, so as we lay the groundwork for DraftKings Marketplace’s vision today, Polygon’s comprehensive insights and proven products around scalable solutions are invaluable. Polygon price prediction 2025 is positive. ” The announcement is an important validation for Polygon and could help increase the MATIC price. Firstly, Polygon is fast becoming a leading player in the NFT industry.

MATIC price forecast

The 1-day chart shows that the MATIC price has been in a narrow range for the past few weeks. The price is struggling to break above the key resistance level of $1.7860. It is also a few points above the 25 and 50 day moving averages.

It is also slightly below the 50% Fibonacci retracement level. Therefore, the general outlook for the Polygon price is neutral at the moment. A bullish view will only be confirmed if the price clears above the USD 1.7860 resistance.

Top 3 Anonymous Crypto Exchanges Without KYC

Today, there are few crypto exchanges where you do not have to go through a KYC (Know-Your-Customer) / verification process before you can start trading. Due to Dutch regulations, all exchanges are actually obliged to get to know their customers first. This is, among other things, to curb terrorist financing, money laundering and sponsoring other criminal activities via cryptocurrencies.

So we can be happy that these regulations have been brought into being, but such a process can still be an annoying hurdle. Usually a verification does not take long, but sometimes it is a long wait for approval from the relevant exchange. You also give away a piece of your own privacy, which is a great sin for many.

Unfortunately, you really need access to an exchange first to purchase your crypto coins with fiat money. The great thing is that not all exchanges are located in the Netherlands and therefore do not fall under Dutch law enforcement, which makes it possible to use an exchange without KYC. So do you want to get started right away and is that bit of privacy that you give away too much? Then you can always try it at the 3 anonymous crypto exchanges below without KYC / verification process!

What is KYC?

KYC stands for “Know Your Customer”. Know Your Customer is a policy that financial companies, such as banks, asset managers, as well as stock exchanges and crypto exchanges use to know who their customers are. For example, if you open a new bank account with ING, you will first have to do a KYC check. In short, they want to know from you as a customer whether you are really who you say you are.

It is mandatory for financial companies that fall within the scope of Dutch law enforcement to have a good KYC policy. Such a KYC policy involves identifying and screening each potential client for potential risks prior to admission. XTZ tezos is well known in crypto.

Proof of address (e.g. electricity, water, gas, telephone or internet bill)

This can sometimes be a tedious activity and you still give away some important data that can just be released on the internet in the event of a data breach. On the other hand, a good KYC policy contributes to the safety of your finances and indirectly to the safety of your environment by preventing the sponsoring of criminal activities as much as possible.

Crypto exchanges without KYC

The crypto exchanges discussed below are therefore accessible without giving away your personal information. In some cases, you don’t even need an account. Unfortunately, some exchanges (such as some decentralized exchanges) do not allow you to deposit euros with which you can buy crypto, so you can only exchange crypto coins against each other on such a platform.

If you do not yet own crypto, you will first have to buy digital coins elsewhere with your euros, for example with an iDEAL payment. But don’t worry, per exchange it is indicated below whether you can deposit euros or not, so let’s go!

Binance

Binance is the largest cryptocurrency exchange with an ever-growing supply of crypto coins and a buying and selling volume of several billions per day. There are also endless possibilities with Binance, such as. It is therefore not surprising that this exchange attracts so many crypto fanatics. Just about all the possibilities you can think of for making money with crypto are bundled on one platform and that is why it is also our favorite exchange! Ripple is well known in crypto.