CryptoCurrency
Binance, WazirX, and Other Crypto Firms Accused of Tax Evasion in India: Report
India’s Goods and Services Tax (GST) authorities have reported a $99.1 million tax evasion case involving 17 cryptocurrency exchanges operating in the country.
Nest Services Ltd., a company linked to Binance Group, stands out as one of the most significant offenders. The firm is accused of evading $86.8 million in GST.
India Recovers $14.7M in Crypto Tax Crackdown
According to an Economic Times report, Minister of State for Finance Pankaj Chaudhary revealed in a written response to the Lok Sabha that investigations have been launched into these firms.
The investigation has already led to the recovery of $14.7 million in taxes, penalties, and interest, with further recoveries expected as authorities continue their probe. Among the other exchanges under scrutiny, Zanmai Labs Pvt (WazirX) faces allegations of evading $4.9 million, CoinDCX is accused of evading $2 million, and CoinSwitch Kuber is linked to $1.7 million in GST evasion.
The agency is also investigating four crypto investors who were found to have evaded $210,000 in GST. Authorities have already recovered $290,000 from these individuals, covering taxes, penalties, and interest.
Chaudhary also highlighted the government’s growing efforts to regulate the cryptocurrency sector, noting that 47 Virtual Digital Asset Service Providers (VDA SPs) have been registered as Reporting Entities with the Financial Intelligence Unit-India under the Prevention of Money Laundering Act, 2002.
This is not the first instance of the government acting against crypto exchanges. In 2021-22, 11 platforms were penalized for tax evasion, with $1.08 million in unpaid taxes identified. At the time, authorities successfully recovered $1.2 million, including penalties.
Crackdown on Binance’s Tax Evasion
This report comes months after Indian law enforcement agencies demanded around $86 million in unpaid taxes from Binance in August.
Binance and several other offshore crypto exchanges were banned in India in January 2024 for non-compliance with local regulations. However, in April, the exchange announced its intention to resume operations in the country after settling pending taxes.
Despite this, in August 2024, the Directorate General of Goods and Service Tax Intelligence (DGGI) demanded $86 million from Binance under GST.
According to The Times of India, the platform had reportedly earned $480 million from transaction fees charged to Indian customers. Investigations revealed that these earnings were credited to an account belonging to Nest Services Ltd.
Authorities also sent email notices to Binance’s offices in Seychelles, the Cayman Islands, and Switzerland, which the exchange initially ignored. Binance later appointed local counsel to address its tax obligations.
India requires all crypto service providers and investors to pay a 1% tax deducted at source (TDS) on every transaction, regardless of its value. Additionally, all profits from crypto investments are subject to a 30% tax.
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Absence of Trump Crypto Order Amps Industry Tension as He Fails to Mention in Speech
The crypto industry is desperate to see crypto action from U.S. President Donald Trump, now a few days into his new presidency, but there hasn’t yet been a confirmation from the White House that an executive order is pending.
It’s not entirely off of Trump’s radar, though, because he did mention the crypto industry in his address on Thursday to the World Economic Forum, saying that an increase in domestic oil and gas production will secure U.S. manufacturing dominance and make it “the world capital of artificial intelligence and crypto.”
Still, he spent much more of the speech talking about U.S. AI commitments and didn’t mention digital assets again.
The sector will likely be watching closely at 2:30 p.m. Eastern on Thursday, when Trump is again scheduled to sign executive orders. The White House has already issued an extensive array of such orders. While they don’t carry the weight of law, such directives can steer the federal government’s priorities.
Trump is also scheduled to speak with crypto-friendly El Salvador President Nayib Bukele at 3:30 p.m., news which sparked another rally in Bitcoin’s price.
In other corners of the federal government, the Senate Banking Committee established its first digital assets subcommittee on Thursday, with Wyoming Republican Cynthia Lummis running it alongside other crypto-friendly lawmakers. And the Securities and Exchange Commission, newly led by Republican Mark Uyeda, announced a crypto task force this week.
CryptoCurrency
Donald Trump Did The Right Thing By Freeing Ross Ulbricht
Technically, Donald Trump broke his campaign promise by not freeing Silk Road founder Ross Ulbricht on day one of his presidency. (No, inauguration day is not “day zero.”) But as I explained in my previous Take, I wasn’t expecting a literal first day pardon anyways. Even day two exceeds my expectations. Trump delivered, and I’m very glad he did.
When I first heard about Silk Road in early 2013, I was immediately intrigued by the concept of buying and selling drugs anonymously online. To this day, I think darknet markets are the best intermediary step before the war on drugs is ended: It removes dealers from street corners while providing users some level of quality assurance through a public rating system.
Discovering Silk Road was also how I first learned about Bitcoin. I started writing about the digital currency a few months later, and am still at it today. In a way, I owe my career to Ulbricht.
That Ulbricht was sentenced to spend the rest of his life in prison was a miscarriage of justice in my view. Even if you believe he is guilty of everything he’s been convicted of (all non-violent crimes), over a decade behind bars should be long enough.
To be sure, I don’t believe Trump actually cares about Ulbricht; he could have freed him during his first term if that was the case. And Trump certainly has no intent of ending the war on drugs; if anything, he’s about to escalate it by designating cartels to be terrorist organizations and imposing the death penalty on drug dealers. Trump promised to pardon Ulbricht because that would benefit him politically — but to his credit, he kept his word.
Ross is finally free. Well done President Trump, and everyone else who helped make this happen.
This article is a Take. Opinions expressed are entirely the author’s and do not necessarily reflect those of BTC Inc or Bitcoin Magazine.
CryptoCurrency
Lightchain AI- The Secret Token Set to Surpass Shiba Inu and Dogecoin in Market Dominance
Lightchain AI is emerging as the secret weapon in the crypto world, poised to surpass popular tokens like Shiba Inu and Dogecoin in market dominance. Combining cutting-edge AI integration with blockchain technology, Lightchain AI offers unmatched utility and scalability.
Its Lightchain AI Presale has already raised $12 million at $0.00525 per token, showcasing strong investor confidence and a promising future. As Shiba Inu and Dogecoin thrive on community support, Lightchain AI’s revolutionary features position it as the next big player ready to redefine the crypto landscape in 2025.
Shiba Inu and Dogecoin- Popularity vs. Long-Term Potential
Lightchain AI is rising as a top choice for the 2025 market boost due to its focus on common rules, clear sight, and fresh thoughts. Its Common Rules gives token owners the strength to guide how the platform moves forward, making sure choices are fair and open. This clear sight ͏builds trust in group; an key part for lasting success.
The place’s good link makes it easy to join with other networks and setups, making it more adjustable in many places. This skill broadens its appeal and helps the work team.
Lightchain A͏I also cares about apps that work in a spread out way (dApps) by giving a comfy and handy base for their build and run. By making real-world apps with clear links, and open, Lightchain AI sees itself as a leader in blockchain change for the 2025 market boom.
Why Lightchain AI Is Poised to Dominate the Crypto Market
Lightchain AI is set to dominate the crypto market with its innovative vision and strategic roadmap. The journey begins with Prototype Development in November 2024, including rigorous testing of PoI and AIVM in a sandbox environment. The Testnet Rollout follows in January 2025, enabling real-world testing by developers and node operators.
By March 2025, the Mainnet Launch will activate full functionality, while May 2025 sees Ecosystem Growth, with grants and partnerships driving adoption. Global Adoption efforts in June focus on scalability and interoperability, with long-term sustainability initiatives completing the roadmap.
To address risks, Lightchain AI employs advanced mitigation strategies, such as sharding for scalability, differential privacy for data protection, and decentralized governance to prevent power centralization. These innovations ensure resilience and success.
Buy Now to Profit Tomorrow
Lightchain AI’s secret token, LCAI, is set to surpass SHIB and DOGE in market dominance, making it the must-have crypto investment for today. The project has already attracted significant attention from prominent investors and influencers worldwide, with its potential applications extending far beyond the meme-inspired coins of today.
So don’t wait- invest in Lightchain AI now to secure your future tomorrow. With its groundbreaking technology and strategic roadmap, it’s no surprise that LCAI is on track to become a leading force in the cryptocurrency market.
https://lightchain.ai/lightchain-whitepaper.pdf
https://t.me/LightchainProtocol
Disclaimer: This is a sponsored article and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.
CryptoCurrency
Binance Labs rebrands, dives into AI as CZ returns as mentor
Former Binance CEO Changpeng Zhao will actively coach and mentor startups within the incubator.
CryptoCurrency
Labour slammed for ‘mass spying’ on bank accounts as part of benefit fraud clampdown plans
The Labour Government has been accused of introducing “mass bank spying” through new legislation aimed at assisting the Department for Work and Pensions (DWP) cracking down on benefit fraud.
Under the Public Authorities (Fraud, Error & Recovery) Bill, which was introduced in Parliament earlier this week, ministers plan to save £8.6billion over the next five years.
Privacy campaigners have branded the measures “one of the biggest assaults on welfare in a generation” as the bill is set grant the DWP new powers to obtain bank statements from individuals suspected of benefit fraud and require banks to flag potential breaches of eligibility rules.
According to Government figures, the department estimates that benefit fraudsters cheated taxpayers out of £7billion last year.
Big Brother Watch director Silkie Carlo warned the legislation is “turning British welfare into a digital surveillance system” with “unprecedented privacy intrusions”.
Do you have a money story you’d like to share? Get in touch by emailing money@gbnews.uk.
The DWP has been accused of “mass bank spying” by campaigners
GETTY
Under the new legislation, the DWP will have powers to recover money directly from bank accounts of benefit fraudsters who are no longer receiving benefits or in PAYE employment. The department will specifically target those who have the means to pay but have refused to do so.
Officials stress that while they will be able to request bank statements, they will not have direct access to bank accounts. The measures are part of what the DWP calls its “biggest fraud crackdown in a generation”.
Banks and building societies will face new requirements to report potential breaches of benefit eligibility rules. The legislation also grants DWP organised crime investigators new powers to apply for search warrants.
This will allow them to support police in searching premises and seizing evidence such as computers and smartphones. Furthermore, the time limit for civil claims against Covid fraud will be doubled from six to twelve years, giving authorities more time to investigate complex cases.
The DWP is is line to be awarded new powers
Getty
Carlo said: “We must be extremely cautious about the Government creating a second tier justice system reserved for people who rely on welfare that side-steps fair hearings in courts to take away people’s funds and freedoms.”
She warned that elderly, disabled and people on the poverty line could have their lives “destroyed by mistaken punishments” and acknowledged that, while everyone wants genuine fraudsters to face justice, the new powers extend beyond fraud to correcting the government’s “own frequent payment errors”.
“These are totally unprecedented privacy intrusions and punishments that will do more damage to fundamental British values of fairness and justice than to the serious fraudsters,” Carlo added.
Big Brother Watch UK expressed particular concern about the Government’s ability to directly access bank accounts and suspend driving licences. Among the most controversial new powers is the DWP’s ability to apply for driving bans of up to two years for benefit fraudsters.
This penalty would apply to individuals who owe £1,000 or more and repeatedly refuse to repay the money. The driving ban measures will specifically target those who have ignored previous requests from the DWP.
As part of the legislation, a comprehensive framework for banks to identify potential benefit fraud is being rolled out. Financial institutions will be required to report suspicious activity that could indicate breaches of benefit eligibility rules.
LATEST DEVELOPMENTS:
The DWP says this proactive approach aims to prevent debts from accumulating and reduce the need for later repayment demands. New investigative powers will also allow DWP organised crime investigators to work more closely with police.
They will be able to apply for court warrants to search premises and seize electronic devices as evidence against suspected fraudsters. Michael Erhardt, campaigner at Disability Rights UK, criticised the Government’s approach to benefit fraud.
“The problem isn’t the social security budget – it is poor Government direction and underfunding of public services that are leading to more and more people becoming physically and mentally unwell,” he said.
He emphasised that supporting people with health conditions should be a societal priority. “When people are unwell or when they have long-term impairments or health conditions, then we as a decent society should give them the level of benefits that they need to live on,” Erhardt stated.
GB News has contacted the DWP for comment.
CryptoCurrency
What Is 4CHAN Crypto – Coinlabz
4CHAN hit the scene on May 3rd, 2023, aiming to be the latest meme coin sensation with a whopping 10 quadrillion tokens. Thanks to its **viral potential** and some big-name shoutouts, 4CHAN is buzzing in the crypto world.
While not as widely known as some other cryptocurrencies, it has sparked interest due to its unique features and potential for growth.
As with any investment in the cryptocurrency space, it is essential to conduct thorough research and understand the risks involved before diving in.
4chan Crypto’s impact on the digital asset landscape remains to be seen, and investors should approach it with caution and careful consideration.
Key Takeaways
- When evaluating 4chan Crypto, it is essential to assess the associated risks and potential rewards carefully.
- The token presents unique features and active community participation; however, it is important to acknowledge its limited price volatility and relatively low presence on exchanges.
- Investors are advised to approach this investment option with caution and closely monitor the token’s performance before making any decisions.
- Remaining well-informed and maintaining a vigilant stance are essential when navigating the ever-evolving and intricate realm of cryptocurrency.
4CHAN Crypto Features
4CHAN Crypto presents several distinctive features within the cryptocurrency market. These include the ability to onboard new team members, facilitate social interactions, enable event sharing, and offer event moderation tools. The platform also incorporates whitepapers that delve into event sharing capabilities, event specifics, and details on exchanges and markets, enriching user understanding.
The technical strengths of 4CHAN include a rapid and scalable platform, high transaction speeds, minimal block time latency, adaptable blockchain structures, and developer-centric features with robust support resources.
Current price of 4CHAN Token
The current price of the 4CHAN Token is $0,00000000000006661, representing a -96.50% decrease from its all-time high of $0.012338831 reached on July 21, 2023. 4CHAN holds the rank of #1990 in the cryptocurrency market cap.
Despite fluctuations, the current price indicates a level of stability relative to its historical extremes.
This pricing information is valuable for investors and stakeholders to gauge market sentiment and potential future trends. Monitoring the token’s price movements and market cap can offer insights into its performance and position in the cryptocurrency market.
What is the daily trading volume of 4Chan (4CHAN)
The recent market trends for 4CHAN Token have led to a notable increase in the daily trading volume of 4Chan (4CHAN), which now stands at $314,870.21. This surge in trading activity represents a substantial growth compared to the previous day. The 38.70% increase in daily trading volume indicates a heightened interest and participation in the token within the market.
Despite a 7-day price decline of -21.50%, the elevated trading volume suggests a potential shift in market sentiment towards 4CHAN. The token is listed on exchanges such as Uniswap V2, LBank, and DigiFinex, providing users with multiple platforms to actively trade 4CHAN. The current trading volume reflects a dynamic market environment for 4CHAN, offering traders opportunities to engage with its price movements.
Monitoring the trading volume of 4CHAN can offer valuable insights into the token’s market dynamics and community interest as it continues to navigate the cryptocurrency landscape.
What is the all-time high for 4Chan (4CHAN)
The highest price ever reached by 4CHAN was $0,000000000001252 on Jul 21, 2023. Presently, the price is down by -96.50% from this peak but remains 1,422.70% above the lowest recorded value.
What is the all-time low for 4Chan (4CHAN)
4Chan (4CHAN) experienced a significant drop to its lowest price on May 18, 2023. The token hit an all-time low of 0,000000000000005485 on that day.
The data indicates a fluctuating journey for 4Chan (4CHAN), showcasing both highs and lows within a relatively short timeframe. Investors and enthusiasts closely monitor such movements to understand the token’s volatility and potential for future growth.
Evaluating The Future Of 4CHAN Token:
In comparison to its counterparts, the future prospects of 4Chan’s token depend on its ability to reverse the substantial price decline it has undergone and regain competitiveness within the cryptocurrency sphere.
As 4Chan navigates through market obstacles, its focus on maintaining a positive price performance, boosting trading volume, and leveraging its unique characteristics could drive its future success. By capitalizing on its strengths and addressing weaknesses, 4Chan aims to position itself favorably within the competitive cryptocurrency market, attracting more participants to its ecosystem.
Should you invest in 4CHAN
Before deciding to invest in 4CHAN, it’s important to carefully consider the potential risks and rewards associated with the token. Factors such as market volatility, technical advantages, and trading options should be taken into account to determine if 4CHAN aligns with your investment objectives.
Conduct a thorough analysis of the token’s value and market dynamics to make an informed decision about investing in 4CHAN.
Pros of investing in 4CHAN
Investing in 4CHAN presents an opportunity that may appeal to investors due to its current low price and potential for gains. The token has shown a notable increase of 1,422.70% from its all-time low, indicating the possibility of significant returns.
Furthermore, the token benefits from stable liquidity of 80.85 K on Uniswap v2, providing a reliable platform for trading. From a technical perspective, 4CHAN offers a fast and scalable platform with industry-leading transaction speeds and customizable blockchain infrastructures, making it an attractive option for investors seeking to diversify their portfolio with a promising token.
Cons of investing in 4CHAN
Investing in 4CHAN presents significant risks due to its notable price volatility and the potential for substantial losses. The token has experienced drastic price swings, indicating a high level of risk and the possibility of significant financial downturns.
Its relatively low liquidity and trading volume may pose challenges when buying and selling 4CHAN, affecting the ease of transactions. Its underperformance in the global market point to instability and a lack of demand for 4CHAN within the broader cryptocurrency landscape.
The limited market activity and the narrow range of exchanges for 4CHAN could make executing trades and determining accurate prices more challenging. Concerns surrounding the token’s technical capabilities and security features also raise doubts about its underlying technology and potential vulnerabilities.
Where can you buy 4Chan
When considering the purchase of 4CHAN tokens, individuals can access them through various decentralized and centralized exchanges, such as Uniswap V2, LBank, and DigiFinex. These platforms facilitate the trading of 4CHAN tokens efficiently. To interact with 4CHAN further, users can integrate the token into their MetaMask wallet by importing it through the contract address or utilizing platforms like CoinGecko.
Frequently Asked Questions
What Is 4CHAN in Crypto?
4chan is a cryptocurrency project known for its significant volatility. Trading options, and rankings are subjects of interest for investors and analysts. Understanding the dynamics of 4chan can be beneficial for those navigating the crypto space, as it presents unique opportunities and risks.
How Much Is 4CHAN Token Worth?
The current value of 4chan token is $0,00000000000006661, with one active market listed. It includes features such as team member additions, social activity integration, event sharing, and moderation.
How to Buy 4CHAN Coin?
To purchase 4CHAN coin, you can engage in trading activities on established cryptocurrency exchanges such as Uniswap V2, LBank, or DigiFinex.
Conclusion
4chan Crypto has garnered attention within the cryptocurrency community due to its meme-based approach and unique tokenomics. Despite its appeal, the token has experienced significant price volatility, resulting in fluctuations that can present both risks and opportunities for investors.
The platform offers distinctive features such as social integration and event sharing, emphasizing community engagement and participation.
While 4CHAN’s low price and substantial liquidity may suggest potential for significant gains, it’s crucial to approach this investment with caution. The high price volatility and relatively limited market activity make it imperative to conduct thorough research and maintain a vigilant stance.
Investors should consider the token’s technical capabilities, security, and trading platforms when making investment decisions.
The future success of 4CHAN depends on its ability to regain competitiveness and attract a broader audience. Ultimately, investors should weigh the pros and cons, closely monitor the token’s performance, and assess their risk tolerance before investing in 4CHAN.
Other cryptocurrencies to check:
GROK Crypto, Everlodge crypto, TitanX Crypto, Digitoads crypto and Xen Crypto.
Angel Marinov is the Managing Editor at Coinlabz. With extensive knowledge of crypto payments and blockchain use cases, Angel is a trusted source of accurate and timely information
CryptoCurrency
Binance Labs rebrands to YZi Labs with CZ at the helm
Binance Labs, the venture capital arm and incubator of Binance Holdings, is getting a fresh start as Changpeng Zhao transitions it into a family office.
On Jan. 23, Binance Labs announced its rebranding to YZi Labs and unveiled a new leadership team led by Binance founder and former CEO Changpeng Zhao, known also as CZ.
According to the announcement, CZ will run YZi Labs alongside Ella Zhang, who co-founded Binance Labs in 2018. During her tenure at the VC platform, Zhang oversaw the incubation of multiple crypto projects that have grown into top ecosystems in the market, including Polygon, Injective, Dune Analytics, Certik, and SafePal.
Under its new family office initiative, YZi Labs will expand its focus beyond cryptocurrency and blockchain. The announcement highlighted new areas of investment, including artificial intelligence, web3 and biotechnology.
“Rebranding to YZi Labs is more than a name change—it signifies an expanded vision as we broaden our horizons to include transformative sectors like AI and biotech,” CZ said.
Zhao stepped down as Binance CEO in 2023 after reaching a settlement with U.S. authorities. He also served a four-month prison sentence in the U.S. before returning to the industry following his release from a correctional facility in California on Sept. 27, 2024.
Binance’s decision to sever ties with its VC arm began taking shape after CZ’s release. In a post on X following his incarceration, Zhao stated that he would focus on “impact” investments rather than financial returns. He also announced plans for an educational project called Giggle Academy.
With YZi Labs, CZ plans to refine the venture capital unit’s incubation program, which will include reintroducing residency initiatives for project founders. The firm will also continue to support its existing portfolio of 250 projects.
CryptoCurrency
BTC Faces Massive Volatility Above $100K as Liquidations Surge to $300M
Bitcoin’s price actions were somewhat dull for most of the day, but the asset went on a wild rollercoaster in the past hour or so, pumping and dumping by several grand.
This has caused a lot of pain for over-leveraged traders, with more than 120,000 such market participants getting wrecked in the past 24 hours.
As reported earlier today, the primary cryptocurrency had started to lose traction following the Monday drop, subsequent all-time high, and yet another decline, and stood at $102,000. Its value decreased a bit more as the day progressed and slipped to $101,200.
It recovered some ground to $102,000 but then exploded out of the blue to $106,000 within minutes. This somewhat surprising rally was met by a steep rejection that pushed it south to $102,500 before the bulls sent it to $104,000 as of now.
Perhaps the most evident reason behind this substantial volatility is a cryptic couple of tweets by US Senator from Wyoming – Cynthia Lummis. The long-term BTC supporter, who has actively been pushing for a Bitcoin reserve in the US, used the asset’s logo to say, “₿ig things are coming” at 10 AM (probably EST).
Although that time has passed and there’s no big announcement yet, her comments were seen by almost 4 million people in an hour, which could explain the hype around BTC.
Fox Business’ Eleanor Terrett picked up the post and said that Lummis is likely to be voted in to become the chair of the digital asset subcommittee.
The Senate Banking Committee is set to vote at a 10AM EST markup on @SenLummis becoming chair of the digital assets subcommittee.
Unclear if anything else will be announced. https://t.co/OfTE4WHd7I
— Eleanor Terrett (@EleanorTerrett) January 23, 2025
Data from CoinGlass shows that the total value of liquidations is up to $300 million on a daily scale, with 124,000 traders wrecked within the same timeframe. The biggest liquidated position took place on OKX and was worth almost $6 million.
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Best Crypto Presales to Buy Now for 100x — Larry Fink’s $700K Bitcoin Prediction
BlackRock, one of the biggest investment companies in the world, has given crypto enthusiasts a new reason to be excited. Its CEO, Larry Fink, has said that Bitcoin can be expected to make huge price moves, potentially reaching the $700K mark soon.
The BlackRock CEO explained how political and economic instability is acting as a catalyst for Bitcoin, which serves as an internationally recognized currency free from any local fears. What’s more, Bitcoin is still holding steady above $104K, with a 12% uptick in the last month.
With all the signs looking positive for BTC, and keeping in mind that the overall crypto market follows Bitcoin’s footprints, now is one of the best times to be a crypto investor. To help you out, here are 5 crypto presales that can offer up to a 100x return.
1. Wall Street Pepe ($WEPE) – Overall Best Crypto Presale for First-Time Investors
Wall Street Pepe ($WEPE) has undoubtedly been one of the best crypto presale performances to date. Launched just over a month ago, $WEPE’s presale has already raised over $57.5M, with both retailers and whales gobbling it up at a breakneck pace.
The presale ends in 24 days, so this could be your last chance to grab one of the best meme coins.
What makes Wall Street Pepe stand out is its personal vendetta against crypto whales, who have been abusing insider information to manipulate the crypto market and feast on innocent retailers.
The project aims to eliminate this lopsidedness by creating a frog army of retail investors and providing them with unique market insights, trading strategies, and real-time alpha calls.
If you, too, want to beat the market and become a profitable crypto investor, join the $WEPE army for just $0.0003665 per token. For more, here’s how to buy $WEPE.
2. Solaxy ($SOLX) – World’s First-Ever Layer 2 Solana Ecosystem
Solaxy ($SOLX) has been created to unlock the full potential of Solana, which currently struggles with issues like network congestion, failed transactions, and limited scalability. Solaxy has set aside a healthy 30% of its total token supply to resolve these issues.
After raising $350K in the first 24 hours, the $SOLX presale is still going strong, with the total presale purse reaching over $13M. Don’t miss out on one of the next 100x meme coins, and get some for only $0.001612 each. Here’s a guide on how to buy $SOLX.
3. Mind of Pepe ($MIND) – AI Agent Offering Crypto Investment Advice
MIND of Pepe ($MIND) is a self-sovereign AI agent with the ability to adapt and form his own opinions, as well as drive conversations and trends on dApps and online platforms such as X.
$MIND uses hive-mind analysis to identify market trends before anybody else. He’ll then share his insights and access to new investment opportunities on his X and Telegram channels, giving token holders a real edge in the market.
You can grab the best AI agent coin for just $0.0031762 if you get in now — here’s how to buy $MIND. Prices increase in the next 11 hours, so interested investors should hurry up.
4. Rexas Finance ($RXS) – Transforming Real-World Asset Tokenization
$RXS is the native currency of Rexas Finance, an interesting crypto project that’s tokenizing real-world assets, such as real estate, gold, art, and commodities. The biggest benefit of this platform is that it simplifies investments.
Investing in gold and other precious metals, for instance, will no longer be difficult and will involve just a few clicks.
Plus, token holders will get to participate in fractional ownership. For example, let’s say there’s a massive mansion spread across multiple acres of land, and you don’t have enough funds to buy it all by yourself.
In that case, you can use Rexas to own a fraction of the property for a fraction of the price. Speaking of $RXS’s presale, it’s coming to an end, meaning prices aren’t as low as they were, say, a couple of months ago.
However, they’re still the lowest you’ll ever get them for. Each token is priced at $0.200, with the total presale funding at $43M so far. Out of the 500,000,000 total token supply, 434,925,318 have already been sold.
5. LuckHunter ($LHUNT) – Online Casino Where You Can Create a Custom Metaverse
$LHUNT is the official token of the LuckHunter online casino. The platform itself is like any other: you can play casino games, bet, and win. However, what makes it unique is it lets you create a metaverse of your own digital casinos that you can rent.
These casinos will be based in different cities, Las Vexus and Utlantic City (modeled after the real Las Vegas and Atlantic City), and you can lease the tables at your virtual casino for short-term or long-term profits.
You can also customize the tables and ambiance and create your own gaming rules. What’s more, you can even host VIP events involving high-stakes games and special tournaments to earn luxurious rewards.
1 $LHUNT is currently available for $0.00138, but the price will increase by 10.5% as it enters the next stage of presale in just a couple of hours from now.
Having already raised $1.1M in its ongoing presale, $LHUNT’s official website mentions that its potential listing price will be $0.005, which is more than 260% of the current price.
Bottom Line
While there’s little doubt that the above-mentioned crypto presales can go to the moon in 2025, it’s important to mix caution with chaos and only invest an amount you’re comfortable losing. There will be ups and downs, so make sure you do enough cardio to prepare your heart!
Also, none of the above is financial advice, and we highly recommend doing your own research (DYOR) before investing.
CryptoCurrency
A Game-Changer for Modern Financial Advising
In today’s issue, Alec Beckman from Advantage Blockchain explains stablecoins and their growing use cases for institutions and advisors.
Then, CK Zheng from ZX Squared Capital shares tips on preparing for tax season in Ask and Expert.
You’re reading Crypto for Advisors, CoinDesk’s weekly newsletter that unpacks digital assets for financial advisors. Subscribe here to get it every Thursday.
Stablecoin Use Case for Advisors
One of the primary hurdles for blockchain adoption to date has been utility, especially when looking through the lens of financial advisors and how these public blockchains and decentralized finance (DeFi) protocols can impact their clients.
Stablecoins – digital currencies pegged to stable assets like the U.S. dollar – have emerged as a powerful tool for modernizing savings, payments, and settlement processes. These innovations present a significant opportunity for advisors to enhance the value they offer to clients while staying ahead of market trends.
How can advisors leverage stablecoins to streamline operations, reduce costs, and provide cutting-edge financial solutions? Here’s how stablecoins can become a transformative tool for your clients:
Savings account / going bankless
- Financial Inclusion: Stablecoins provide a way for clients to store value outside of traditional banking systems, granting access to financial services for the unbanked or underbanked. Anyone with an internet connection can use stablecoins.
- Stability: Unlike volatile cryptocurrencies, full-reserve, dollar-backed stablecoins maintain a consistent value (ex. USDC is tied to the value of $1).
- Liquidity & Accessibility: Funds in stablecoins are globally accessible 24/7, offering liquidity without dependence on conventional banking hours.
- Better Yield: Using on-chain finance, stablecoins can generate significantly more yield than a savings account (Ex. Coinbase offers slightly over 4% APY, beating traditional savings accounts).
- Self Custody: Many people, including myself, have been held up by a third-party custodian or bank. If someone can keep you from spending/sending money, it is not your money. The ability to self custody your own assets provides a more seamless way of transacting your own funds.
Payments
- Efficiency: Transactions using stablecoins are fast and cost-effective with no global restrictions, relevant for those sending payments domestically or cross-border.
- Value Retention: The stability of these digital assets ensures that the amount sent is equal to the amount received.
- Adoption by Institutions: Financial institutions are recognizing stablecoins as a complementary payment system, signaling growing mainstream acceptance.
- Adoption by Commerce: Stablecoins are less costly and more efficient than credit card payments for merchants.
Settlement
- Instantaneous Transactions: Settlements via stablecoins are near instantaneous, improving liquidity and reducing counterparty risks for clients managing high-value transactions.
- Lower Costs: By eliminating traditional clearing and settlement processes, stablecoins significantly reduce fees.
- Global Versatility: Whether your clients are trading internationally or managing investments across borders, stablecoins streamline and simplify the settlement process.
Real-world application: SpaceX’s strategic use of stablecoins
SpaceX uses stablecoins to manage foreign exchange (FX) risks from its global Starlink operations. SpaceX shields itself from FX volatility by collecting payments in various currencies and converting them into stablecoins. The stablecoins, pegged to the U.S. dollar, provide a stable intermediary before being converted back to dollars.
This approach offers several advantages:
- Reduced Currency Risk
- Enhanced Efficiency
- Liquidity Preservation
This strategy demonstrates how stablecoins can be a powerful tool for multinational corporations and can be applied to managing client portfolios.
Why This Matters to You and Your Clients For financial advisors, stablecoins can elevate portfolios and modernize financial strategies. These assets aren’t just a novelty – they’re a bridge to a more inclusive, efficient, and adaptable financial future. By integrating stablecoins into conversations about savings, payments, or settlements, you position yourself as a forward-thinking advisor prepared to navigate these changes.
– Alec Beckman, president, Advantage Blockchain
Ask an Expert
Q: What’s the 101 on stablecoins and liquidity?
The stablecoin market cap has reached a record $215 billion, predominantly concentrated in the two coins Tether and USDC, having a combined 85% of the market cap. The liquidity of the stablecoin market stays healthy as more stablecoin issuers such as Visa, Stripe, and PayPal enter this unique digital asset sub-class. Given the new Trump administration’s pro-crypto attitude, we expect more crypto-friendly rules and regulations for this asset in the coming months, which will support the further growth of the stablecoin market.
Q: Are stablecoins risky compared to traditional finance (TradFi)?
Stablecoins are typically designed to stay pegged to the U.S. dollar (though they don’t need to be). The functionality of stablecoins in the crypto market is comparable to money market funds in the traditional financial market. The money market funds have reached a $10 trillion market cap, which serves the purpose of short-term investment and a place to park money. Stablecoins will serve a similar purpose in the digital asset space. The quality and liquidity of the issuer’s holdings of fiat-denominated short-term assets are some of the critical risks associated with stablecoins, especially when the financial market is under great stress.
Q: Do country borders matter when it comes to stablecoins?
Country borders matter greatly as different countries may have different rules, regulations and license requirements for the stablecoin market. One of the key regulatory requirements associated with stablecoins is around the stability, liquidity, disclosure and transparency of the short-term assets the issuers hold for the underlying stablecoins.
– CK Zheng, co-founder & CIO, ZX Squared Capital
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