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ASSEMBLE Protocol (ASM) Is Now Supported on Coinbase Custody – Press release Bitcoin News

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ASSEMBLE Protocol (ASM) Is Now Supported on Coinbase Custody – Press release Bitcoin News


PRESS RELEASE. The leading blockchain-based global point integration platform, ASSEMBLE Protocol has announced that its utility token ASM has been added to Coinbase Custody. This means that ASM will receive a cold-storage custody solution from one of the largest custodians in the crypto sphere, Coinbase Custody.

Coinbase Custody to provide cold-storage custody support for ASM

The support of the ASM on Coinbase Custody has been officially confirmed by the Coinbase Institutional on 3rd May 5 PM PDT, that has been revealed in their Twitter handle.

According to their tweet, Coinbase Custody officially approved ASM token to be added to their cold storage custody following technical and compliance review of the token. This is a significant milestone for ASSEMBLE Protocol, given the fact that users on Coinbase Custody can now access the token. The Custodial platform is considered to be one of the largest and most trusted crypto custody solutions for individual and institutional investors.

The addition of ASM to Coinbase Custody is expected to bring a new level of security and trust in the ASSEMBLE Protocol. As part of this custody support process, Coinbase Custody now will enable the deposits and withdrawals for ASSEMBLE Protocol token (ASM). ASM token holders can now access a new option for the custody of their holdings.

It should be noted that Coinbase Custody offers custodian services to 90 digital currencies.

The ASSEMBLE Protocol team considered Coinbase Custody for storage due to the reliability, security, and transparency of the platform. Since its launch eight years ago, Coinbase Custody has not experienced any security incidents or loss of crypto assets to its platform and adheres to the strictest security protocol. In addition to the listing of ASM on Coinbase Custody, users can now safely deposit and withdraw funds without leaving the Coinbase platform.

ASSEMBLE Protocol a unique blockchain platform

Assemble protocol continues to make significant progress in its quest to provide users unrestricted opportunity to use their points similarly as they use cash without time or location constraints.

The blockchain protocol provides point integration where various points can be integrated and converted into its native token ASM or cashed out through a single process. In addition, ASSEMBLE provides consumers with multiple channels where they can use their points. Users can freely transfer their points within the platform or purchase goods and services within the ASSEMBLE platform.

Its unique ecosystem is developed with a data infrastructure where consumer data is consistently updated within the database. This means that advertisers can use the data to effectively run their advertisement campaigns.

When consumers pay for a product and receive points from the point provider, they can exchange these points to ASM token via the ASSEMBLE platform Point Exchange. The Point Exchange provides a safe and secure place for point to ASM swaps to occur.

There is a marketplace within the platform where product transactions are made using the ASM tokens. Consumers can purchase products from sellers at favorable terms and receive rewards by leaving a review on their purchase experience or via community participation.

Staying true to its decentralized architecture all data collected from consumer’s payments are stored on the blockchain. The stored data is further used for marketing purposes as advertisers can process the data and channel their advertisements towards identifying consumer groups that fit their objectives.

ASSEMBLE has been able to secure major partnerships with top e-commerce platforms STA1.COM and ClubPass in recent months. The two platforms combined have over 800,000 users. ASM is also listed on leading Korean exchange Bithumb and was recently listed in the KRW market on the exchange.

The ASSEMBLE Protocol community continues to grow, and the listing on Coinbase Custody will only accelerate the blockchain platform. To learn more about ASSEMBLE Protocol, visit Assemble website and social media:

MEDIUM

Facebook

Twitter

LinkedIn

Telegram


This is a press release. Readers should do their own due diligence before taking any actions related to the promoted company or any of its affiliates or services. Bitcoin.com is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in the press release.

Image Credits: Shutterstock, Pixabay, Wiki Commons





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South Korean Police Raid Crypto Exchange Allegedly Involved in a $214M Multi-Level Marketing Fraud – Bitcoin News

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South Korean Police Raid Crypto Exchange Allegedly Involved in a 4M Multi-Level Marketing Fraud – Bitcoin News


Authorities in South Korea have launched a major raid against a domestic crypto exchange allegedly involved in a millionaire multi-level marketing (MLM) fraud. The police accuse V Global platform of running an illicit operation that reportedly stole hundreds of millions of dollars from investors.

Masterminds Could Have Defrauded Over 40,000 People

According to Yonhap, police obtained a court order to conduct searches into 22 properties connected with the crypto firm, including its headquarters based in the financial district of Gangnam in Seoul.

Although local media outlets refused to disclose the identity of the crypto exchange raided by the police in the first instance, social media users started to make their bets on V Global possibly being involved in the saga. In fact, Hanguk Kyungjae confirmed the news on Wednesday.

Investigators involved in the case believe that the company’s CEO identified by the media as “Lee” could have been allegedly “selling cryptocurrency using multi-level marketing methods.”

That said, a court in Seoul ordered to freeze assets belonging to the company worth $214 million as of press time.

As typical in MLM fraudulent schemes, authorities said the operation posed as a parent company of known domestic crypto exchanges like Upbit, with the premising of guaranteeing high-yield incomes for those who invest into their bogus trading platform.

SBS reports that CEO and his accomplices are accused of defrauding over 40,000 members from August 2020.

MLM Projects Heavily Regulated in South Korea

Currently, the V Global website in its desktop version shows a technical error message, saying that it could take “about 4 hours” to fix the inconveniences. However, that message has been online for over a day. However, its mobile website points out that an error in the transaction systems has been spotted “and is under investigation.”

South Korea has a strict policy regulating multi-level marketing projects in the nation, and they’re paying special attention to bogus crypto-related bogus MLM schemes.

Under the law, companies who use such techniques to promote products must abide by the Act of Door-to-Door Sales and should be registered with the Fair Trade Commission.

What are your thoughts on the latest crackdown of a crypto-related MLM alleged fraud in South Korea? Let us know in the comments section below.

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. It is not a direct offer or solicitation of an offer to buy or sell, or a recommendation or endorsement of any products, services, or companies. Bitcoin.com does not provide investment, tax, legal, or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.





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Early Bitcoin bull market buyers are hodling strong, but short term trading increasing

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Early Bitcoin bull market buyers are hodling strong, but short term trading increasing



Bitcoin buyers from the early phases of the bull run are still hodling despite BTC’s meteoric surge into new all-time highs, according to data shared by Glassnode.

The on-chain analytics provider shared its “Realized Cap HODL Waves” chart, noting that the number of coins that were last realized on-chain in the past six months has nearly doubled from roughly 40% to 80% since the third quarter of 2020 — showing that much of the BTC purchased during this period has not been touched since.

HODL Waves are used to estimate the time since BTC coins last moved on-chain, while the realized price is derived from the price the coins were last moved at, rather than the current price. As such, the colored bands shown in the Realized Cap HODL Waves chart increase in thickness “as coins mature or are spent into different age bands.”

The data evidences that a large number of BTC purchased during 2020’s later months have not since been traded, with the chart showing coins progressively maturing from the fourth-quarter 2020 onwards.

Analyzing the chart in its May 3 Weekly On-chain report, Glassnode stated: “These are coins accumulated in the early bull market that have remained dormant since.”

Short term

However, the chart also shows that the share of Bitcoin’s supply represented by coins last active between six months and three years ago has plummeted since mid-2020, dropping from more than 55% in July 2020 to around 10% now. This means long-term investors have been capitalizing on Bitcoin’s all-time highs and realizing profits on multi-year positions.

Short-term speculation also appears to have surged since November, peaking with roughly half of Bitcoin’s supply having been realized in the past three months. This suggests short term traders are driving the markets.