Ripple Still Bearish After Bitstamp Stake Acquisition, Sparklo Outshines the Crypto Market
Ripple (XRP), a giant in the crypto space, has continued to expand its reach by acquiring a stake in Bitstamp. However, its price has remained bearish, leading major Ripple (XRP) whales to seek investment in the new revolutionary platform, Sparklo. As a first-of-its-kind in the crypto space, many experts have predicted that Sparklo will outperform the crypto market with gains of up to 50x before the end of 2023.
Sparklo (SPRK) is on track to outperform the crypto market
Innovative blockchain projects have a history of showing the most upside potential. This is why many market analysts have predicted that Sparklo will outperform the crypto market in 2023. Sparklo is the first alternative investment platform built on a blockchain where investors will be able to buy precious metals like gold, silver, and platinum with digital assets.
Sparklo is building a marketplace where people can purchase gold, silver, and platinum with fractional non-fungible tokens (NFTs). Because the platform is based on fractional NFTs, investors can buy fractions of gold, silver, and platinum. Every NFT minted on Sparklo is backed by an equivalent amount of gold, silver, or platinum stored in secure vaults. On request, Sparklo can deliver the physical gold, silver, or platinum to an investor who buys an NFT representing a whole bar.
Sparklo is changing the precious metals landscape with its innovative use of blockchain technology. The project has already received massive support from investors and completed the first presale stage in record time. Now in the second stage, you can buy the native SPRK token for as low as $0.026 and earn up to a 50% bonus.
Ripple (XRP) acquires stake in Bitstamp
In a shareholder conference call, it was revealed that Ripple (XRP) had acquired a minority stake in the crypto exchange, Bitstamp. The Bitstamp stake acquired by Ripple (XRP) previously belonged to Pantera Capital, a venture capitalist firm based in the United States. Although the acquisition was made in the first quarter of 2023, it was only just revealed.
Bitstamp and Ripple (XRP) have a history, with the exchange acting as a gateway for its payment infrastructure. Bitstamp is currently the second largest exchange where Ripple (XRP) is traded. Despite the announcement, the sentiment of Ripple (XRP) has remained bearish. Over the last 24 hours, the price of Ripple (XRP) has dropped by 2.6% to trade at $0.4519. The lack of price activity is fueling the movement of investors from Ripple (XRP) to Sparklo.
Find out about the Sparklo (SPRK) presale using the links below:
Buy Presale | Website | Twitter | Telegram
| Disclaimer: This is a press release post. Coinpedia does not endorse or is responsible for any content, accuracy, quality, advertising, products, or other materials on this page. The image used in this article is for informational purposes only and is provided to us by a third party. Coinpedia should not be held responsible for image copyright issues. Contact us if you have any issues or concerns. Readers should do their own research before taking any actions related to the company. |
SEC vs Gemini: Crypto Giant Strikes Back! What’s at Stake will Shock You!
The post SEC vs Gemini: Crypto Giant Strikes Back! What’s at Stake will Shock You! appeared first on Coinpedia Fintech News
Gemini has fired back at the U.S. Securities and Exchange Commission (SEC) in an electrifying legal tussle. The prestigious crypto exchange along with its embattled ally, the now-bankrupt lender Genesis, has set the stage for an exhilarating legal battle as it seeks to dismiss the SEC’s lawsuit lodged against its pioneering Earn Product.
“No more,” Gemini proclaimed, slamming the SEC’s allegations as “ill-conceived” and standing firm in its conviction that its innovative Earn product, which promises yields to its customers’ crypto deposits, is no security.
The Truth Behind the Gemini Earn Product: It’s Loans, Not Securities!
In an audacious move, Genesis chimed in, supporting its compatriot and shedding light on the true nature of these transactions. They are not securities, they are loans! The power duo pleaded with the court to scrap the complaint or, if that fails, at least to obliterate the SEC’s brazen requests for a permanent injunction and disgorgement.
To add fuel to the fire, the SEC’s complaint accused Gemini of operating the customer-centric arm of the Earn program, and not Genesis. Gemini fired back, claiming that it only acted as a transfer agent for the Earn product, while once again dubbing the SEC’s lawsuit as “ill-conceived”.
So, here’s some backstory: Genesis went bankrupt after another crypto exchange, FTX, collapsed. This left the users of the Earn program in a fix since they haven’t been able to take out their money since November 2022.
Gemini’s Got Your Back, Earn Users!
Now, Gemini’s stepping up and going after Genesis’ parent company, Digital Currency Group (DCG). They’ve filed a big claim to get back a whopping $1.1 billion for 232,000 Earn users. The tension is high, and Gemini and DCG are negotiating to settle things down. But things are rocky because DCG missed a huge $630 million loan payment to Genesis. Gemini’s warning everyone that DCG might not be able to pay its debts.
Also Read: Even Biden’s Re-election Can’t Threaten Bitcoin, Claims Pro-XRP Lawyer
Gemini is represented by JFB Legal Firm
Gemini is now being defended by JFBLegal in court. Their lawyer, Jack Baughman, is questioning the SEC’s lawsuit over Gemini’s Earn product. He said Gemini Earn Product wasn’t a security and there was no sale. He also pointed out that the SEC’s lawsuit is making it more difficult to solve the problems from Genesis’ bankruptcy and isn’t helping users get their money back. Gemini and their lawyers are ready to fight this lawsuit.
“Whatever the Earn contract might be, it was never sold. Who was the seller? Who was the buyer? How much did it cost? Could it be resold? Everyone knows what a sale is. It’s obvious there was not one here.” Jack Baughman.
1/ I and the @JFBLegal team are proud to represent @Gemini. Today we filed our motion to dismiss the @SEC’s ill-conceived lawsuit against Gemini and Genesis relating to the Earn program.
— Jack Baughman (@JackBaughman27) May 26, 2023
Gemini Eyes UK Amid Regulatory Uncertainty
Amidst the growing uncertainty in their home country’s regulatory environment, Gemini is considering setting up operations in the United Kingdom. This bold move comes as Gemini doubles down on its defense against the SEC’s lawsuit. Only time will tell how this riveting legal drama will unfold!
Staking Crypto with Tokex — What’s at Stake?
Staking refers to the process of locking up crypto assets for a specific period to support a blockchain’s operation, with the reward being an additional cryptocurrency. Proof of stake consensus mechanism is common in many blockchains where participants validating new transactions and adding new blocks are required to “stake” a predetermined sum of cryptocurrency.
By staking, only authentic transactions and data are added to the blockchain, and participants offer sums of cryptocurrency in staking to have a chance to validate new transactions as a type of insurance. Correctly validating legitimate transactions and data would earn them more crypto as a reward.
How Does Staking Work?
Staking tokens helps in maintaining the proof of stake blockchain stable. It involves locking up assets and actively participating in network validation. Moreover, getting started with staking is straightforward, as most exchanges like Tokex offer staking services.
Staking provides an opportunity for cryptocurrency holders to earn through rewards. This would not have been possible without staking, making it a valuable feature of cryptocurrency tool.
It also allows you to support the blockchain projects you believe in. By staking your funds, you contribute to the blockchain’s efficiency, making it more resilient to attacks and enhancing its transaction processing capabilities.
What’s at Stake When Staking Crypto?
Staking your tokens typically involves a locking period that spans from weeks to months, depending on the program. You will only be able to cash out once locking period is over. Furthermore, it may take you some time to find a buyer and a lender in the market.
It cannot also be ignored crypto’s volatile nature. These digital assets is known for their significant price swings. On the bright side, a sufficient amount of research can help you avoid losses, mitigate risks, and allow you to get the staking platform’s high returns.
Staking with Tokex
Currently, there are six staking pools available on Tokex, which involve Tokex (XPL) and Tether (USDT).
Tokex (XPL)
| Pool | Annualized Return | Lock Period |
| Pool 1 | 1.8% | 182 days |
| Pool 2 | 4.4% | 365 days |
| Pool 3 | 50% | 720 days |
Tether (USDT)
| Pool | Annualized Return | Lock Period |
| Pool 1 | 24% | 720 days |
You can start staking your crypto on Tokex here.
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Is Binance.US About to Cut Its CEO’s Stake to Win Over Regulators? Find out Here!
Binance.US, the stateside sibling of the global crypto powerhouse, is reportedly cooking up a plan to dilute the lion’s share of its founder and CEO, Changpeng Zhao. Last year, Binance US raised $200 million from investors like RRE Ventures and Foundation Capital, valuing the company at $4.5 billion before the investment.
According to insider sources, discussions have taken place to find ways to reduce Zhao’s stake, signalling a potential shift in the company’s ownership. So why are they doing this? Let’s explore.
Regulatory Woes and Lawsuit Impact
The exploration of stake reduction comes in the wake of mounting regulatory challenges faced by Binance and its founder. The U.S. Commodity Futures Trading Commission (CFTC) filed a lawsuit against Binance and Zhao, accusing them of operating an “illegal” exchange and a deficient compliance program. The lawsuit alleged “willful evasion” of U.S. law and regulatory arbitrage. Binance.US executives believe reducing Zhao’s stake could help improve the company’s standing with U.S. regulators.
Also read – Binance Battles US Regulators, Shifts Focus To UK
Concerns over Regulatory Licences
One key concern for Binance.US executives is the potential hindrance caused by Zhao’s involvement in the CFTC lawsuit. The company fears that as long as he remains the majority owner, it may face challenges in acquiring certain regulatory licenses required to operate in the United States. By exploring options to cut Zhao’s stake, Binance.US aims to address these concerns and improve its regulatory standing.
Binance’s Regulatory Struggles Continue
Binance has faced a series of regulatory setbacks in the United States this year. The attempted acquisition of Voyager Digital’s distressed assets was thwarted by the Securities and Exchange Commission (SEC), citing concerns about unregistered securities.
The exchange also encountered legal troubles with the CFTC and the Department of Justice, which implicated Binance in a money laundering case involving Bitzlato, a partner exchange. Furthermore, Binance-backed stablecoin BUSD faced scrutiny as an unregistered security, leading to a decline in its adoption and trading volume.
As Binance.US grapples with regulatory challenges, the exploration of reducing founder Changpeng Zhao’s stake highlights the company’s efforts to address concerns raised by U.S. regulators.
Will this move help them to get in the good books of regulators? Only time will tell!
Is Crypto Bull Run at Stake? Here’s What Traders Can Expect from the Market
As Bitcoin’s price made a new 2023-high above $26K price level following the release of CPI data, it has sparked signs of an upcoming bull run in the crypto market by Q1’s end. However, the BTC price has met a sharp rejection near $26.4K, which develops fear among investors of an upcoming bearish rally. As a result, investors are now wondering if Bitcoin’s massive surge is a sign of a crypto bull run or if a bearish rally is waiting on the way.
Crypto Bull Run May Not Happen Soon
Bitcoin has surged to a nine-month high above $26,000 despite the banking crisis in the United States and the latest inflation data. However, the founder of Paxful, Ray Youssef, remains skeptical of the uptrend. In a tweet on March 15, he expressed doubts about the recent surge, describing it as “weak.”
Although Bitcoin’s value has increased, Youssef believes the upside momentum is weak due to the low trading volumes accompanying the recent price surge. Trading volume is an essential indicator of participation and interest among traders, and its low levels may indicate a lack of enthusiasm for Bitcoin’s recent gains. He stated:
“This btc pump has low volume, even the ordinals pump had more volume. I would beware and take a bit of profit. The empire shall continue striking back hard. Buy back later and keep a 2-year time frame always.”
Hence, a downward projection is anticipated in the crypto market, extending the waiting period for a bull run.
Crypto Market Reacts to BTC’s Price Trend
In the last 24 hours, Bitcoin’s value has dropped below $25,000, coinciding with an increase in on-chain activity from large cryptocurrency holders known as “whales.”
Santiment, an on-chain analytics company, has reported a significant surge in whale activity, reaching its highest point in four months. The “whale transaction count” indicator, which tracks transfers worth at least $1 million on the Bitcoin blockchain, shows a significant increase in such transactions.
Although the current situation is not certain, the accompanying price trend may provide some insight into the recent increase in whale activity. For instance, during a previous price drop about a week ago, whales carried out a significant number of transfers. Following this surge in activity, the asset hit a local low before rising sharply, indicating that these transactions were likely made to accumulate Bitcoin at low prices.
However, in the current situation, the asset’s value has declined since the spike in whale transactions, with Bitcoin’s price dropping below the $25,000 level. This suggests that a considerable portion of these recent transactions may have been made for selling purposes. Hence, a further uptick in whale activity may halt the potential crypto bull run.
SEC Crackdown on Staking Services Won’t Stop Ethereum Investors – Here’s How to Stake Now!
The Merge, executed by Ethereum last year, was widely recognized as one of the pinnacle accomplishments of the cryptocurrency sector. Ethereum had a proof-of-stake blockchain conversion as part of The Merge, changing from a proof-of-work blockchain.
But there is one small problem: The Securities and Exchange Commission (SEC) recently took aggressive action against Kraken. The SEC has once again exercised its regulatory muscle by sending shockwaves across the cryptocurrency market and has said that SEC registration is required for the majority of decentralized financial activity, this time focusing on “staking services.”
The cryptocurrency exchange Kraken was fined $30 million by the SEC on February 9 for its staking service. Ethereum may need to be categorized as a security if it keeps offering to stake. This would obviously be terrible for Ethereum and might pose an existential risk.
Staking Service Amidst SEC Crackdown
However, there is one alternative as reported by Coindesk. Running a single node directly on the Ethereum network is another alternative. However, doing so requires a high level of technical expertise and, if done incorrectly, could result in token losses. The SEC has no control over whether consumers employ a decentralized staking service or stake their own Ethereum tokens.
According to a public complaint, Kraken has been offering and selling a service called “staking” to people who own cryptocurrency. Staking involves pooling together crypto assets from multiple investors and using them to earn rewards on their behalf. So, Kraken is taking investors’ crypto assets and staking them to earn rewards, and then distributing those rewards back to the investors.
To explain further, staking involves locking up or “staking” one’s cryptocurrency tokens with a blockchain validator to help validate data for the blockchain. In exchange, the investor is rewarded with new tokens. Kraken has been offering a service where they pool together crypto assets from multiple investors and stake them on their behalf.
However, when investors provide their tokens to staking-as-a-service providers like Kraken, they lose control of those tokens and take on the risks associated with those platforms, with little protection.
Genesis Capital Faces Bankruptcy Hearing on January 23: What’s at stake?
Digital currency trading firm Genesis Global filed for bankruptcy on Jan 20, 2023, citing ‘adverse market conditions’. They are likely to complete their bankruptcy by this year May 19. This filing only applies to certain branches of the company and its Global trading and spot and derivatives trading arms are still operational and unaffected. This news has created a stir in the market and the next hearing is on Jan 23.
Background on Genesis Global Trading Bankruptcy Filing
Genesis Global Trading is a digital currency trading firm that was founded in 2013. It grew as a reputed OTC (Over-the-counter) trading firm in the crypto market. On Jan 20, it filed for chapter 11 bankruptcy which causes a stir in the crypto industry. The company is likely to liquidate its assets to pay off the creditors.
Digital Currency Group Denies Involvement
Digital Currency Group (DCG) is a venture capital firm founded by Barry Silbert and has invested in a number of crypto-related companies. The DCG is also the parent company of Genesis Global Trading. DCG responded to the bankruptcy filing stating that it has no involvement in the filing and the decision was made independently by the Genesis management team.
In the statement, they further clarified that DCG still owes Genesis Capital a lot of money. $526 million is due in May 2023 and another $1.1 billion is due in June 2032. DCG said they will help Genesis pay back its creditors very soon.
DCG has also responded to the false accusations made by Gemini related to the Gemini Earn program. They said that the threat of a lawsuit by Gemini is another publicity stunt from Cameron Winklevoss to remove the blame from himself and Gemini. They have also stated that any suggestion of wrongdoing by DCG or any of its employees is baseless and completely false. DCG assured that they will continue to engage in constructive negotiations with Genesis and its creditors with the goal of arriving at a solution that works for all parties.
Stellar – One of the biggest creditors of Genesis
The Stellar Development Foundation, which is one of Genesis’s biggest creditors, claimed almost $13 million from Genesis. However, the foundation stated that this amount is small compared to its overall assets. The Stellar treasury currently holds around 30 billion XLM tokens, which are worth over $200 million. Therefore, the foundation will not be affected by Genesis’s bankruptcy filing.
Impact on the Crypto Market
The bankruptcy filing of Genesis Global Trading has raised a number of questions about the stability of the crypto market. Some have pointed out that the filing is a sign that the market is still in its early stages and that there are still a lot of risks involved. The hearing for this case is set to take place on January 23rd and it will be interesting to see how this plays out and what the ultimate impact on the crypto market will
SBF’s Lawsuit Intensifies: DoJ to Seize $460M Stake in Robinhood
On Tuesday, Sam Bankman-Fried, former CEO of FTX, proclaimed his innocence regarding the various counts of U.S. criminal charges brought against him. Bankman-Fried, accompanied by his lawyer Mark Cohen and Christian Everdell, appeared at a hearing in the U.S. District Court in New York City. Court filings allege that Bankman-Fried is facing charges of conspiracy to commit securities fraud, wire fraud, and market manipulation.
Additionally, billions of dollars are missing from the FTX balance sheet, leading to accusations that Bankman-Fried misappropriated customers’ and investors’ money to fund risky Alameda businesses.
Will FTX Investors Get Justice?
The charges brought against Sam Bankman-Fried highlight the lack of clarity in crypto regulations and the need for financial institutions to adhere to higher standards. Despite its importance, this issue has been neglected by regulators for too long. The most pressing question is who will protect investors from predatory tokenomics and unclear regulations.
To the relief of FTX stakeholders, the US Department of Justice (DOJ) plans to seize approximately $460 million in Robinhood shares belonging to Bankman-Fried.
U.S. Attorney Seth Shapiro informed U.S. Bankruptcy Judge John Dorsey, who is overseeing the FTX bankruptcy proceedings, that the DOJ does not consider Robinhood’s 56 million shares worth an estimated $465 million to be part of the bankruptcy estate.
Legal experts believe that Bankman-Fried will face a long legal battle as a result. In addition, Caroline Ellison and Gary Wang have pleaded guilty to fraud charges and agreed to fully cooperate with government prosecutors against Bankman-Fried.
“It’s going to be a very tough task for Bankman-Fried to ultimately prevail at trial. And while Bankman-Fried could be hoping for leniency, he may end up with a more severe sentence than he originally bargained for,” Mark A. Kasten, a partner at law firm Buchanan Ingersoll & Rooney PC Counsel, noted.
Nonetheless, SBF has continued to maintain his stance that he is innocent, stating that he did not engage in any illegal activity and that the charges against him are unfounded. His legal counsel will continue to argue this position in court, but it appears unlikely that SBF will be able to escape the allegations unscathed.
The Securities and Exchange Commission (SEC) has also taken an interest in the case, with SBF facing potential civil charges from that agency as well. This is yet another reminder of how serious financial crimes are taken and serves to deter anyone from engaging in similar actions in the future.
Is Stake legal In The US?
Stake.us is an established sweepstakes casino that offers US players the chance to play for fun or real cash prizes. Stake.us free money can be won by wagering across some top casino titles without ever making a purchase, and new players can pick up a 5% Rakeback bonus. Register now and use the exclusive code MIKBONUS. Find out more in this Stake.us review.
- 300+ casino titles
- Play-for-fun or real cash prizes
- Licensed and regulated
- 5% Rakeback when using the exclusive promo code: MIKBONUS
| Website | www.Stake.us |
| Address | 28 Oktovriou, 313 Omrania BLD, Limassol, Cyprus |
| Welcome Bonus | 5% Rakeback on all losses |
| Owner | Sweepsteaks Limited |
On paper, Stake.us does not offer a welcome bonus in a traditional sense. Instead, they look to make use of rolling bonuses – something that will be discussed shortly. However, thanks to the exclusive SweepsCash.com promotional code: MIKBONUS, new players can now look to enjoy a 5% Rakeback bonus on all losses.
To redeem the exclusive bonus, new players will need to follow the below steps.
- Head to Stake.us and click on the register button.
- Once selected, you can opt to sign up using a Facebook, Google, Twitch or email address before inputting further personal details.
- Enter the exclusive promotional code: MIKBONUS to unlock your 5% Rakeback bonus.
- If required, verify your account using the authorization link sent to your email address.
- Head back to Stake.us once confirmed.
Once your account has been verified, you will be eligible to receive your first daily login bonus. As discussed, Stake.us does not make use of a welcome bonus directly; however, it does present its verified users with the chance to redeem a daily bonus that consists of both Gold Coins and Sweeps Cash.
Gold Coins are for entertainment purposes only and allow players to wager across all casino titles found onsite. Sweeps Cash is the alternative name for Stake.us sweepstakes coins and allows users to play on promotional titles and enter competitions. There are no wagering requirements that come with Gold Coins as they are non-withdrawable. However, players will be required to play through their Stake Cash 3x before an exchange for cash, vouchers or merchandise can be made.
Is Stake.us legal in the US?
Next in this Stake.us review, you’ll soon find out whether Stake.us is legal across the US. For those of you who have had your interest piqued by the exclusive Stake.us bonus code, you’ll be pleased to hear that Stake.us is available to all US players, except for those looking to play in Washington, Idaho, Nevada, New York and Kentucky.
It is worth noting that Stake.us has also acquired a legitimate license in accordance with the laws set out by the Curacao Government.
Does Stake.us pay real money?
Earlier in this Stake.us review, the difference between Gold Coins and Stake Cash was briefly touched on. The difference between these two coins is imperative to understand before you can fully understand whether Stake.us pays real money.
Gold Coins: Gold Coins are one of two virtual currencies used across the sweepstakes casino and do not hold a real-world value. Instead, they are used for entertainment only and cannot be withdrawn. Gold Coins can be unlocked, won and purchased. However, as with all sweepstakes casinos, a purchase is not necessary to play at Stake.us.
Stake Cash: Stake cash is the alternative name used for Stake.us sweepstakes coins. These coins can be used across promotional titles and entered into competitions only. 1SC is the equivalent of $1 and can be redeemed for cash, vouchers or merchandise once players have made their way through the 3x playthrough requirement. Stake Cash can never be purchased but it can be won through competitions, gameplay and giveaways or unlocked through bonuses.
So, when considering whether Stake.us pays real money, the answer is yes. However, only for those fortunate to accumulate any winnings when using Stake Cash. For those using Gold Coins, the answer is no.
How to win money on Stake.us
As you can see from the above, the only way to win money at Stake.us is by entering competitions, using Stake Cash on promotional titles and making your way through the 3x playthrough requirements.
Once the requisites have been met, players can decide whether they plan on redeeming for gift vouchers, merchandise or cash.
Is Stake.us safe for payments?
The next section of this Stake.us review takes a closer look at the eligible payment methods used to deposit and withdraw across the sweepstakes casino. You can find further details surrounding any fees incurred, expected transaction times and whether both a deposit and withdrawal can be made. Additionally, it is worth noting that a $2000 daily purchase limit will come as standard across all user accounts.
| Payment method | Deposit and withdrawal? | Fees | Transaction time |
| Bitcoin | Yes | Varied | Up to 10 minutes |
| Ethereum | Yes | Less than $1 per transaction | Up to 5 minutes |
| Ripple | Yes | 0.5% of transaction | Instantly |
| EOS | Yes | Zero | Instantly |
| Tron | Yes | Varied | 60 seconds |
| Litecoin | Yes | $0.007 | 5 – 8 minutes |
| Dogecoin | Yes | 0.0025 DOGE | 40 – 60 minutes |
| BNB | Yes | Varied | Up to 30 minutes |
| Tether | Yes | Zero | 5 – 7 minutes |
Stake.us payout Review
After establishing how payments can be made at Stake.us, this next section focuses primarily on the withdrawal process. Expect to find a guide to cashing out at Stake.us, things to consider before making your withdrawal and an explanation as to whether Stake.us really pays.
Does Stake.us really pay?
As you should know already, Stake.us makes use of two virtual currencies across its sweepstakes casino offering. For those who opt to play for cash prizes, Stake Cash will be the currency of choice.
Stake Cash can be used to play on promotional titles and entered into onsite competitions. In order for Stake.us to consider exchanging Stake Cash for vouchers, merchandise or cash, a 2x playthrough requirement and minimum withdrawal requirement must be met.
How to cashout on Stake.us
Cashing out at Stake.us is straightforward, provided the above requisites have been met. If you aren’t sure whether you have passed the requirements, you can head to your Stake.us player dashboard and review your current progress.
Once you have passed the aforementioned requirements, the redeem button will become available and the withdrawal process can begin. Here, you can then select whether you wish to exchange for merchandise, redeem for a gift voucher or convert to cash. Each selection will come with specific minimum withdrawal requirements and any conversions to digital cash will incur additional fees. It is at this stage that players are required to provide sufficient KYC documentation before clicking submit and waiting for their merch, vouchers or cash to reach them.
Things to consider before making your Stake.us withdrawal
Although the Stake.us withdrawal process is simple enough to follow, there are still a few considerations to take into account before clicking submit.
- Ensure that any fees incurred do not render your withdrawal void
- Make sure that postal addresses, wallet addresses and email address are entered correctly
- Have your government-issued ID ready and a household bill no more than 3 months old
- Update Stake.us should any of your KYC documents change
Games at Stake.us
The gaming portfolio at Stake.us is over 300 strong and covers many popular casino categories. Players can look to load up popular slots, variations of table games, scratchards and some exclusive Stake originals, too.
Primarily, the casino library is powered by Hacksaw Gaming and Pragmatic Play. If you’ve spent any time around the online casino world, you’ll know that these two top software providers offer up immersive games with great themes running throughout. A few standouts that feature across the Stake.us gaming library include Sweet Bonanza, Dork Unit and The Dog House.
As noted, Stake.us also offers up some unique takes on casino classics powered by its own in-house development team. Plinko, Dice and Crash are clear favorites; however, you’ll find a total of 18 originals ready to enjoy.
Also, something you rarely see at a sweepstakes casino is live dealer games. However, over at Stake.us you can play-for-fun or for real cash prizes across five roulette, blackjack and baccarat titles. All games loaded promptly whether playing online or via mobile and there was plenty of variety for all.
Does Stake.us have an app?
At the time of curating this latest Stake.us review, a dedicated mobile app is currently unavailable. However, despite lacking a mobile app, Stake.us does offer mobile accessibility to all of its users.
To load up your favorite games on the go, you’ll need to head to Stake.us through your mobile browser. Once here, you’ll notice that the Stake.us website has been optimized for the smaller screen and you can access your full account and the full gaming portfolio similarly to how you would using your laptop.
Stake.us customer support
Stake.us is a forward thinking sweepstakes casino that offers 24/7 support. Currently, players can receive support around the clock via a dedicated live support channel or they can send an email directly to the team.
As anticipated, the live support is the most effective way of getting your questions resolved promptly. However, for any bigger queries and concerns, emailing agents is just as effective, highlighting responsive, professional and knowledgeable agents across the board.
Over at Stake.us, you’ll also find a live forum that is full of knowledge and support from like-minded sweepstakes casino players. While it is never recommended that you dish out any personal information, simple questions relating to games, RTPs and strategies can always be aired there.
Finally, Stake.us has a dedicated FAQ page and is incredibly active across its social media channels. While these aren’t directly related to customer support, they do provide ample answers and insight regarding player accounts, withdrawals, games, ongoing competitions, giveaways, and much more.
Website design
The site sports a dark gray background and makes use of further shades of gray, white and lime green, allowing text to be easily read.
The layout is not too dissimilar to many other top sweepstakes casinos; however, Stake.us does dedicate one third of its page to a live player forum. Of course, this can be closed down leaving the screen full of online casino titles.
New players can register by clicking the blue button located in the top right-hand corner while returning players can opt to select sign in. Any important areas of the site can be accessed within a couple of clicks and can be found at the top of the page or down the left-hand side of the screen.
As you make your way down the homepage, you’ll also find further information on recent Gold Coin and Stake Cash winners, detailing the game, user ID, time, amount, multiplier and overall result. By the time you reach the bottom of the website, you’ll have links to just about every area of the site you could possibly need. You can find out more about the VIP Club, self exclusion, terms of service and even visit the Stake.us blog.
Who owns Stake.us
Stake.us is owned and operated by Sweepsteaks Limited and has a registered address in Limassol, Cyprus. They have officially partnered with Drake, Everton Football Club and the UFC and allow players to enjoy casino action with no purchase necessary.
How to delete a Stake.us account
Stake.us makes the process of deleting your account straightforward. It requires little more than an email request to be sent to the Stake.us customer support team and they will take care of it for you.
Conclusion
Stake.us is a sweepstakes casino that presents players with the chance to play for fun or for real cash prizes. Although Stake.us does not offer a traditional welcome bonus, new players can register now and use exclusive code MIKBONUS at the signup stage and unlock 5% Rakeback on all losses.
The sweepstakes casino is licensed and regulated by the government of Curacao and has an impressive gaming library that includes slots, table games, scratchards, originals and 5 live casino titles. There is no mobile app available at this time but players can still look to play on the go, thanks to an immersive and optimized mobile experience.
Stake.us Free Money FAQ
🤝 Is Stake.us safe and legal?
Stake.us is a sweepstakes casino that is legal to operate in all states, except for Idaho, Nevada, New York, Washington and Kentucky. It has obtained a license that adheres to the laws set out by the Curacao government and makes use of enhanced security features.
📞 How do I contact Stake.us?
There are various ways to contact Stake.us. The site offers 24/7 live support, an email address and a wealth of answers to the most common questions relating to the site. Players can also chat, share tips and receive advice from the player forum.
💵 Does Stake.us really payout?
Players can hope to build up their Stake Cash by playing on promotional titles and entering competitions. Once Stake Cash has been played through three times, players can make a withdrawal by exchanging their Stake Cash for gift vouchers, merchandise or digital currency.
🎲 How can I win money at Stake.us?
The Stake.us sweepstakes casino makes use of two virtual currencies – Gold Coins and Stake Cash. Gold Coins allows players to play for fun and can be redeemed by unlocking bonuses or winning on play-for-fun slots. Stake Cash can be used to play on promotional titles or enter onsite competitions and can later be redeemed for cash prizes.
📲 Does Stake.us have an app?
All sweepstakes casinos are looking at ways to help separate them from the crowd. Often, players will find increased bonuses, larger portfolios or lower fees. Over at Stake.us they have included an optimized mobile experience for all players who want to play on the go.
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Former FTX CEO, Sam Bankman-Fried Cashed Out $300M to Buy Rival Binance’s Stake!
The post Former FTX CEO, Sam Bankman-Fried Cashed Out $300M to Buy Rival Binance’s Stake! appeared first on Coinpedia Fintech News
Ever since the FTX series has been playing within the crypto space, the participants are witnessing fresh new episodes every day. Recently, the exchange was reportedly “hacked” and more than $600 million in funds were squeezed out. Meanwhile, many believed it was the job of an insider as the stolen funds were quickly converted into Ethereum & stablecoins.
In a fresh update, SBF has reportedly received a portion of $420 million in funds into his personal account. FTX raised $420 million in funding in October last year to improve the user experience and be more in line with regulators. Interestingly, nearly 75% of the total amount was sent to SBF.
The October 2021 funding round valued FTX exchange at $25 billion and raised money from investors like BlackRock, Tiger Global, and Singapore’s sovereign wealth fund Temasek & Sequoia Capital. Later, after a couple of months, some of these investors helped raise $400 million for FTX’s subsidiary at an $8 billion valuation.
During the time funds were raised, the crypto markets were booming and the Alameda was highly profitable. While it is still unclear what SBF did with the $300 million, whether it was poured back to FTX or kept separate, Meanwhile, FTX’s 2021 audited financial statements said the money was being reserved by the company for ‘operational expediency’ on behalf of the related party.
Dogechain To Support Proof of Stake (PoS) In Its Next Upgrade
Amidst FTX collapse, the Dogechain team has announced that they are planning to upgrade the network which will support Proof of Stake consensus mechanism. This comes just three months after the network launched layer-2 scaling solution. As per the official post on Twitter, the network plans to launch the support for PoS on Nov 14.
On the other hand, the network is opting to suspend its on-chain activities for 12 hours so that the upgrade will be launched successfully. The time that the upgrade is set to begin is around 3 AM (UTC) on November 14. As per the team, this suspension of on-chain activities is necessary because they believe that POS upgrade won’t be a successful one if the network keeps operating.
Cardano Price Volatility: To Stake or Not to Stake ADA?
The price of Cardano (ADA) indicates that not enough buyers are available in the market, which has caused it to fall below crucial support and resulted in a negative market structure breach.
The most recent developments present a narrow window of chance for a recovery; if it is not seized upon, it could trigger a sell-off.
Users would have little choice but to suffer losses during times of market volatility because the majority of high-interest staking systems demand that investors lock their money for a set amount of time.
Investors in Ethereum, for instance, are preparing for more volatility and selling activity following a significant release of coins from the staking solution locked up ahead of the Merge.
Is Cardano Staking a Good Strategy?
Among cryptocurrency investors, staking on Cardano might not be the most popular strategy. It still outperforms traditional finance, though, since statistics indicate that staking up to 100,000 ADA will yield investors a 30% return over the course of five years.
Staking for Cardano is possible on a number of platforms and wallets, including Binance, one of the biggest centralized exchanges in the world. Sadly, the coin’s interest rate is continually fluctuating.
Some solutions modify their APY in response to the supply that has been staked.
Financial institutions typically give investors a greater staking rate in exchange for locking their coins for a specified length of time. Exchanges give higher interest rates when the locking period is longer, and vice versa. The Cardano staking rules are the same.
If an investor wants to develop a portfolio based on a constant income, it might be a good idea to have a steady income in a certain currency. However, there are several risks associated with staking assets like Cardano, Ethereum, or anything else susceptible to high volatility.