Market

Germany Welcomes New RWA Platform

Published

7 months ago

August 25, 2024

Coin2049 Newsletter

BeInCrypto’s comprehensive Europe Crypto Roundup covers the latest news and trends shaping the continent’s crypto landscape. With reporters across key markets like Germany, France, and the UK, we provide in-depth insights into evolving regulatory environment, adoption rates, major industry events, and market movements.

This week’s roundup covers the launch of a new tokenized real estate platform in Germany, Bitpanda’s partnership with Finland’s largest crypto broker, the arrest of Holograph hackers, and more.

New Platform for Tokenized Real Estate Launches in Germany

A new platform for tokenized real estate has launched in Germany, bringing the analogue and digital investment worlds closer together. This initiative is led by MyHouse AG, a provider of real estate investments for private and institutional investors, alongside Berlin-based Web3 company Tokenforge.

According to the announcement, the platform’s initial rollout will include assets from Degag Deutsche Grundbesitz AG. The follow-up phase will introduce digital securities from MyHouse AG. The companies describe this as a “significant step in democratizing and digitalizing investments in the real estate sector.”

“The processing of digital securities not only significantly increases management efficiency but also makes it easier for our investors to access these opportunities through tokenization. This approach allows investors to “invest small amounts in high-quality real estate and tangible asset projects, opening the market to a much wider group,” said Alexander Hupe, CEO of MyHouse AG.

The platform, regulated under Germany’s Electronic Securities Act (eWpG), will first focus on real estate in Germany. It plans to expand to other assets and international markets later.

Montenegro Arrests FutureNet Executive

Montenegrin police have arrested Roman Ziemian, co-founder of the alleged crypto fraud scheme FutureNet, who was living under a false identity in the capital city of Podgorica. The arrest, announced on August 19 by Montenegro’s Police Directorate, follows an international investigation involving South Korea and Poland. Both countries have issued warrants for Ziemian on charges of fraud, money laundering, and theft.

Authorities say Ziemian could face life imprisonment in South Korea for his role in the $21 million scheme. Upon his arrest, police seized devices and items suspected of being used in his criminal activities. Ziemian is now awaiting a hearing at Podgorica’s High Court to determine his extradition.

FutureNet, founded by Ziemian and Stephan Morgenstern in 2018, was promoted as a multilevel marketing business featuring FuturoCoin (FTO). In 2019, Poland’s Office of Competition and Consumer Protection (UOKIK) flagged FutureNet as a pyramid scheme, warning that it sold “participation packages” ranging from $10 to $10,000, with promised returns for recruiting new participants.

South Korean authorities began investigating the scheme in 2020 after 950 victims reported losses totaling millions of dollars. Ziemian’s arrest mirrors that of co-founder Stephan Morgenstern, whom authorities detained in Albania in August 2023. Both men face potential life sentences in South Korea.

Finnish Crypto Broker to Offer Over 400 Digital Assets Through New Partnership

Coinmotion, Finland’s largest cryptocurrency provider, has partnered with Bitpanda Technology Solutions (BTS) to offer more than 400 virtual currencies to its users. Based in Jyväskylä, Coinmotion will soon deliver the most extensive crypto service package in the Nordic region.

BTS, a part of Austrian fintech company Bitpanda, enables businesses to integrate its cryptocurrency trading solutions. With this partnership, Coinmotion users will access all supported currencies through the Coinmotion app. Initially, 10 popular assets —including Solana, Tron, and Polkadot — will be available, with more added gradually over the year.

“Thanks to this partnership, Coinmotion can easily expand its offering and deliver the widest range of virtual currencies in the Nordics,” said Lukas Enzersdorfer-Konrad, CEO of BTS.

A recent survey revealed that 300,000 Finns, or 7% of the adult population, own virtual currencies — a figure expected to triple within a decade. Coinmotion’s expanded offerings aim to attract both new and existing investors in a secure environment.

“Our customer base is growing as more Finns begin investing in virtual currencies. We believe virtual currencies will soon be as common as other asset classes,” said Antti-Jussi Suominen, CEO of Coinmotion.

The partnership will provide trading opportunities for over 25 million customers across Europe, reflecting the increasing demand for secure digital asset solutions.

Holograph Hackers Caught by French Police in Italy

After a two-month investigation, French police have arrested two suspects involved in hacking the Holograph crypto platform. Hackers compromised Holograph in June and fraudulently created a billion HLG tokens.

They managed to deploy an unverified smart contract on the Mantle network, enabling the creation and immediate sale of the excess tokens, which caused the market value to plummet. Holograph managed to freeze 200 million tokens across several exchanges, including Bybit, Gate, KuCoin, Bitget, and Backpack.

The investigation was relatively straightforward, as some stolen funds were traced to a Paris-based individual known as “Acc01ade,” who exchanged the stolen HLG tokens for USDT and ETH. The suspect had previously identified himself online as a “super shadowy coder” and had even listed his position as a developer for Holograph on LinkedIn since May 2021.

The investigation was conducted by the Office of Cybercrime Prevention (OFAC) in collaboration with the Brigade for the Suppression of Banditry (BRI), Europol, the Italian Anti-Mafia Investigation Directorate, and the Royal Cayman Islands Police Service (RCIPS). These agencies tracked down and apprehended the suspects in Italy. The individuals are now awaiting extradition to France, where they will face charges related to the crypto hacking case.

The total estimated value of the theft is $14.2 million. To restore balance, Holograph has since destroyed an equivalent number of tokens to return the supply to its original level.

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In adherence to the Trust Project guidelines, BeInCrypto is committed to unbiased, transparent reporting. This news article aims to provide accurate, timely information. However, readers are advised to verify facts independently and consult with a professional before making any decisions based on this content. Please note that our Terms and Conditions, Privacy Policy, and Disclaimers have been updated.

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Market

BNB Price Faces More Downside—Can Bulls Step In?

Published

3 hours ago

April 2, 2025

Coin2049 Newsletter

Aayush Jindal, a luminary in the world of financial markets, whose expertise spans over 15 illustrious years in the realms of Forex and cryptocurrency trading. Renowned for his unparalleled proficiency in providing technical analysis, Aayush is a trusted advisor and senior market expert to investors worldwide, guiding them through the intricate landscapes of modern finance with his keen insights and astute chart analysis.

From a young age, Aayush exhibited a natural aptitude for deciphering complex systems and unraveling patterns. Fueled by an insatiable curiosity for understanding market dynamics, he embarked on a journey that would lead him to become one of the foremost authorities in the fields of Forex and crypto trading. With a meticulous eye for detail and an unwavering commitment to excellence, Aayush honed his craft over the years, mastering the art of technical analysis and chart interpretation.
As a software engineer, Aayush harnesses the power of technology to optimize trading strategies and develop innovative solutions for navigating the volatile waters of financial markets. His background in software engineering has equipped him with a unique skill set, enabling him to leverage cutting-edge tools and algorithms to gain a competitive edge in an ever-evolving landscape.

In addition to his roles in finance and technology, Aayush serves as the director of a prestigious IT company, where he spearheads initiatives aimed at driving digital innovation and transformation. Under his visionary leadership, the company has flourished, cementing its position as a leader in the tech industry and paving the way for groundbreaking advancements in software development and IT solutions.

Despite his demanding professional commitments, Aayush is a firm believer in the importance of work-life balance. An avid traveler and adventurer, he finds solace in exploring new destinations, immersing himself in different cultures, and forging lasting memories along the way. Whether he’s trekking through the Himalayas, diving in the azure waters of the Maldives, or experiencing the vibrant energy of bustling metropolises, Aayush embraces every opportunity to broaden his horizons and create unforgettable experiences.

Aayush’s journey to success is marked by a relentless pursuit of excellence and a steadfast commitment to continuous learning and growth. His academic achievements are a testament to his dedication and passion for excellence, having completed his software engineering with honors and excelling in every department.

At his core, Aayush is driven by a profound passion for analyzing markets and uncovering profitable opportunities amidst volatility. Whether he’s poring over price charts, identifying key support and resistance levels, or providing insightful analysis to his clients and followers, Aayush’s unwavering dedication to his craft sets him apart as a true industry leader and a beacon of inspiration to aspiring traders around the globe.

In a world where uncertainty reigns supreme, Aayush Jindal stands as a guiding light, illuminating the path to financial success with his unparalleled expertise, unwavering integrity, and boundless enthusiasm for the markets.

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Market

VanEck Sets Stage for BNB ETF with Official Trust Filing

Published

4 hours ago

April 2, 2025

Coin2049 Newsletter

Global investment management firm VanEck has officially registered a statutory trust in Delaware for Binance’s BNB (BNB) exchange-traded fund (ETF).

This move marks the first attempt to launch a spot BNB ETF in the United States. It could potentially open new avenues for institutional and retail investors to gain exposure to the asset through a regulated investment vehicle.

VanEck Moves Forward with BNB ETF

The trust was registered on March 31 under the name “VanEck BNB ETF” with filing number 10148820. It was recorded on Delaware’s official state website.

VanEck BNB ETF Filing. Source: State of Delaware Official Website

The proposed BNB ETF would track the price of BNB. It is the native cryptocurrency of the BNB Chain ecosystem, developed by the cryptocurrency exchange Binance.

As per the latest data, BNB ranks as the fifth-largest cryptocurrency by market capitalization at $87.1 billion. Despite its significant market position, both BNB’s price and the broader cryptocurrency market have faced some challenges recently.

Over the past month, the altcoin’s value has declined 2.2%. At the time of writing, BNB was trading at $598. This represented a 1.7% dip in the last 24 hours, according to data from BeInCrypto.

BNB Price Performance. Source: BeInCrypto

While the trust filing hasn’t yet led to a price uptick, the community remains optimistic about the prospects of BNB, especially with this new development.

“Send BNB to the moon now,” an analyst posted on X (formerly Twitter).

The filing comes just weeks after VanEck made a similar move for Avalanche (AVAX). On March 10, VanEck registered a trust for an AVAX-focused ETF.

This was quickly followed by the filing of an S-1 registration statement with the US Securities and Exchange Commission (SEC). Given this precedent, a similar S-1 filing for a BNB ETF could follow soon.

“A big step toward bringing BNB to US institutional investors!” another analyst wrote.

Meanwhile, the industry has seen an influx of crypto fund applications at the SEC following the election of a pro-crypto administration. In fact, a recent survey revealed that 71% of ETF investors are bullish on crypto and plan to increase their allocations to cryptocurrency ETFs in the next 12 months.

“Three-quarters of allocators expect to increase their investment in cryptocurrency-focused ETFs over the next 12 months, with demand highest in Asia (80%), and the US (76%), in contrast to Europe (59%),” the survey revealed.

This growing interest in crypto ETFs could drive further demand for assets like BNB, making the VanEck BNB ETF a potentially significant product in the market.

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Market

XRP Recovery Stalls—Are Bears Still In Control?

Published

5 hours ago

April 2, 2025

Coin2049 Newsletter

XRP price started a fresh decline from the $2.20 zone. The price is now consolidating and might face hurdles near the $2.120 level.

XRP price started a fresh decline after it failed to clear the $2.20 resistance zone.
The price is now trading below $2.150 and the 100-hourly Simple Moving Average.
There is a connecting bearish trend line forming with resistance at $2.120 on the hourly chart of the XRP/USD pair (data source from Kraken).
The pair might extend losses if it fails to clear the $2.20 resistance zone.

XRP Price Faces Rejection

XRP price failed to continue higher above the $2.20 resistance zone and reacted to the downside, like Bitcoin and Ethereum. The price declined below the $2.150 and $2.120 levels.

The bears were able to push the price below the 50% Fib retracement level of the recovery wave from the $2.023 swing low to the $2.199 high. There is also a connecting bearish trend line forming with resistance at $2.120 on the hourly chart of the XRP/USD pair.

The price is now trading below $2.150 and the 100-hourly Simple Moving Average. However, the bulls are now active near the $2.10 support level. They are protecting the 61.8% Fib retracement level of the recovery wave from the $2.023 swing low to the $2.199 high.

On the upside, the price might face resistance near the $2.120 level and the trend line zone. The first major resistance is near the $2.150 level. The next resistance is $2.20. A clear move above the $2.20 resistance might send the price toward the $2.240 resistance. Any more gains might send the price toward the $2.2650 resistance or even $2.2880 in the near term. The next major hurdle for the bulls might be $2.320.

Another Decline?

If XRP fails to clear the $2.150 resistance zone, it could start another decline. Initial support on the downside is near the $2.10 level. The next major support is near the $2.0650 level.

If there is a downside break and a close below the $2.0650 level, the price might continue to decline toward the $2.020 support. The next major support sits near the $2.00 zone.

Technical Indicators

Hourly MACD – The MACD for XRP/USD is now gaining pace in the bearish zone.

Hourly RSI (Relative Strength Index) – The RSI for XRP/USD is now below the 50 level.

Major Support Levels – $2.10 and $2.050.

Major Resistance Levels – $2.120 and $2.20.

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