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  • Crypto Community HeritageDAO Seeks to Acquire Korean National Treasures

    Crypto Community HeritageDAO Seeks to Acquire Korean National Treasures

    Singapore, Singapore, 26th January, 2022, Chainwire

    The sudden birth of HeritageDAO,$HDAO, was the response of the crypto industry to the unfortunate news that two (2) National Treasures in South Korea are coming out to an auction as a desperate measure of one art museum to survive this pandemic. A practice that is highly controversial anywhere in the world, this is the first time and potentially the only time in South Korea to see National treasures out in an Auction. 

    National Treasure #72: 계미명금동일광삼존불입상: Gilt-bronze Standing Buddha Triad with Inscription of “Gyemi Year”

    National Treasure #72 (계미명금동일광삼존불입상: Gilt-bronze Standing Buddha Triad with Inscription of “Gyemi Year”) and #73 (금동삼존불감: Portable Shrine of Gilt-bronze Buddha Triad) are Buddhist artworks from the Year563 and 11th century respectively. HeritageDAO aims to buy these National Treasures and have the seller custody the originals in Korea while $HDAO (1) fractionalize and sell 49% of ownership in the form of Non-Fungible-Tokens and (2) keep 51% to $HDAO. 

    National Treasure #73: 금동삼존불감 – Portable Shrine of Gilt-bronze Buddha Triad

    $HDAO as a collective whole, is to protect, collect, share and enjoy the essence of cultural heritage, covering both monetary and non-monetary aspects in all ages throughout the world. In collaboration with Crayon.Finance, an Animoca Brands and Brinc backed company, $HDAO was initiated by an anonymous expert in the fields of Ancient and Modern arts over a cup of tea on a Sunday afternoon (Link) just 4 days before the K-Auction taking place for the national treasures. Community members began donating to the treasury on January 26 and the raise intends to continue into early February to either win the Auction directly or win back the treasures from the winner of the Auction. 

    National Treasures are hard to sell due to the reporting duties that follow the buyer from the government to keep the condition of the treasures mint. Often, it is illegal to export National Treasures out of the country as with the case of South Korea. With limitations, $HDAO believes that these National Treasures are heavily undervalued with a limited number of transactions taken in the past. However, transfer of value is borderless once the ownership is minted in the form of Non-Fungible-Tokens and fractional ownership allows more retail collectors to engage with the buying and selling of treasures. 

    Ancient and Modern Art industry is the ideal target for DAO governance, because transfer of value is not limited to the location of the original asset once the NFT is minted over the ownerships and/or intellectual properties. The DAO governance structure means $HDAO is uniquely positioned as a partner for museums across the globe to tap into the potential of Crypto and NFT space. With most museums having only a very limited understanding of how blockchain works, $HDAO provides a novel opportunity for those organizations to quickly gain access to the crypto space and its audience as well as benefit from global liquidity.  

    “With Non-Fungible-Tokens unlocking a new dimension of possibilities to assets such as National Treasures and DAOs are consistently growing and engaging the communities around the assets of interest, the future of the Art industry, both ancient and modern, could very well be powered by NFTs and run by DAOs”, said Leon of Crayon.Finance.

    About HeritageDAO
    HeritageDAO as a collective whole, is to protect, collect, share and enjoy the essence of cultural heritage, covering both monetary and non-monetary aspects in all ages throughout the world via the power of blockchain and Non-Fungible-Tokens.

    Contacts

    CSO

    • Leon Kyoungnam Kim
    • Crayon Labs Pte Ltd
    • leon@crayon.finance
    • (+82)1066398512
  • Currency.com Joins Chamber of Digital Commerce to Promote Innovation and Global Adoption of Digital Assets

    Currency.com Joins Chamber of Digital Commerce to Promote Innovation and Global Adoption of Digital Assets

    Key takeaways:

    • Fully regulated Currency.com crypto exchange has joined the Chamber of Digital Commerce
    • The Chamber of Digital Commerce is the world’s leading advocacy group that promotes the blockchain industry
    • As a member of the prominent blockchain association, Currency.com will pursue the global adoption of digital assets in line with regulatory standards

    As a member of the Chamber, Currency.com will help build a regulatory-compliant and robust environment for crypto

    Currency.com, a rapidly growing digital assets trading platform, has announced its membership in the Chamber of Digital Commerce, the world’s leading trade association, promoting the adoption of blockchain technology across all industries.

    As a member of the coveted blockchain organization, Currency.com intends to pursue its goal of promoting the global adoption of digital assets and working with policymakers to bring greater regulatory clarity to the nascent industry. The team at the fully regulated, AML and KYC compliant exchange believes a transparent regulatory framework and cooperation with policymakers are vital to fostering the global innovation and growth of the crypto sector.

    CEO of Currency.com US Steve Gregory commented on the induction in the Chamber of Digital Commerce:

    “As cryptocurrencies and digital assets grow more mainstream and become increasingly available to both institutions and the retail community, it is important that we work closely with global regulators to help build trust and acceptance of this burgeoning asset class. We are honored to be part of the Chamber of Digital Commerce and to do our bit to build a strong and reputable environment for cryptocurrencies.”

    The Chamber of Digital Commerce was founded in 2014 and quickly became the leading advocacy group promoting different aspects of blockchain technology, ranging from Bitcoin to altcoins and legislative efforts. The Chamber is actively working with policymakers and authorities to ensure regulatory compliance while providing tax guidance and distributing educational content to foster the global adoption of digital assets.

    Founder and President of the Chamber of Digital Commerce Perianne Boring said they are “delighted to welcome Currency.com,” and added:

    The company’s impressive growth highlights the adoption and demand in the digital asset marketplace, and the Chamber looks forward to Currency.com joining our ranks and engaging with policymakers to develop a regulatory framework that engenders clarity and certainty for the widespread adoption of digital assets.”

    The Chamber’s executive committee consists of the world’s leading companies in the industry, including Binance.US, Dapper Labs, IBM, Mastercard, Microsoft, Ripple, Visa, to name a few. 

    Currency.com is one of the quickest growing digital trading platforms in the sector – the exchange reported a 374% growth in the number of users in 2020 alone. The rapid growth of Currency.com is linked to the seamless integration of digital and traditional financial assets into a single trading platform that provides ample investment opportunities, extensive educational content, and an intuitive user experience.

  • YouTube NFTs Might be in the Pipeline as the Company Looks For New Revenue Sources for Creators

    YouTube NFTs Might be in the Pipeline as the Company Looks For New Revenue Sources for Creators

    The world’s largest video-streaming platform YouTube is reportedly searching for new sources of revenue for the platform’s rapidly growing number of content creators. In today’s letter to the YouTube community, the video streaming giant’s CEO Susan Wojcicki, suggested non-fungible tokens (NFTs) might offer a way for creators to effectively monetize their work on the platform.

    Key takeaways:

    • “We’re always focused on expanding the YouTube ecosystem to help creators capitalize on emerging technologies, including things like NFTs, while continuing to strengthen and enhance the experiences creators and fans have on YouTube,” wrote Wojcicki.
    • Wojcicki is not interested exclusively in NFTs, but said that YouTube is actively looking to the Web3 sector “as a source of inspiration,” and is intrigued by the potential of decentralized autonomous organizations (DAOs) as well.
    • The letter didn’t include any details or timetables about the launch of NFTs on the YouTube platform.
    • A renewed interest in NFTs, the spike in sales, and the growing number of registered users have contributed to OpenSea, the world’s largest NFT marketplace, having its best month to date in January 2022.
  • Anchor Protocol (ANC), a Terra-Based Savings Protocol, is the Latest Project Featured on Binance Launchpool

    Anchor Protocol (ANC), a Terra-Based Savings Protocol, is the Latest Project Featured on Binance Launchpool

    Key takeaways:

    • Anchor Protocol, a borrowing and lending protocol built on Terra blockchain, is the latest project featured on Binance Launchpool
    • Binance users can stake their BNB, BUSD, and LUNA holdings to farm the native ANC token rewards
    • There are a total of 2 million ANC tokens allocated for Binance Launchpool users

    Earn ANC by staking BUSD, BNB, and LUNA, the farming period ends February 24

    Binance, the world’s largest digital asset exchange, has introduced Anchor Protocol (ANC) on its Launchpool platform. Binance users will have the opportunity to use their Binance USD (BUSD), Binance Coin (BNB), and Terra (LUNA) funds to earn staking rewards in ANC tokens. The farming period starts on January 26 and ends on February 24.

    Create Binance Account

    Anchor Protocol is a decentralized finance (DeFi) lending and borrowing protocol offering low-volatility yields on Terra stablecoin deposits. The platform’s native ANC tokens are used to distribute staking rewards, incentivize borrowing, and provide governance functionality on the protocol.

    Anchor Protocol consists of bonded assets that allow stakers to gain additional exposure to the crypto market in the form of higher liquidity, and a money market, a platform for lending out deposited Terra stablecoins to borrowers. Last but not least, the protocol’s loan liquidation mechanism ensures that one percent of the liquidated collateral is used to purchase ANC, which positively affects the supply and demand dynamics of the token. To learn more about the Anchor Protocol, check out this helpful article posted on the Binance Research webpage.

    There are a total of 2 million ANC tokens allocated to the Launchpool. 10% of the allocated ANC tokens will be distributed to BUSD stakers, 70% to Binance users that contributed their BNB, and the final 20% is reserved for LUNA stakers. At the time of writing, Binance customers have the opportunity to earn 1.67% APY on their BUSD, 2.22% APY on their BNB, and 21.72% APY on their LUNA pool investment. Keep in mind that rewards are subject to change and updated hourly.

    How to earn ANC on Binance Launchpool?

    The ANC token is trading on Binance in BUSD, USDT, and BTC trading pairs. The saving protocol’s token is currently changing hands at $1.06, down 12.5% in the last 24 hours.

  • Anchor Protocol on Binance Launchpool – Earn ANC by Staking BNB, BUSD, and LUNA on Binance

    Anchor Protocol on Binance Launchpool – Earn ANC by Staking BNB, BUSD, and LUNA on Binance

    Anchor Protocol (ANC) is the 30th and latest blockchain project to be featured on Binance Launchpool, a platform that lets Binance users stake their digital holdings into farming pools to earn new tokens for free. A total of 2 million ANC tokens can be earned via Launchpool’s staking offering, allowing Binance users to stake BNB, BUSD, and LUNA tokens and earn ANC tokens relative to the amount of funds they stake into pools.

    The program will start on January 26 at 00:00 AM UTC and will remain open until February 24.

    How to earn Anchor Protocol (ANC) on Binance Launchpool?

    Follow our step-by-step guide to learn how to earn ANC tokens on Binance Launchpool.

    1. Create an account on Binance and complete KYC

    In order to participate in the ANC Launchpool, you need to create an account on Binance. You can skip this step if you are already a registered Binance user.

    Create Binance Account

    Once you’ve completed the account registration process and supplied the required KYC information, you can proceed to the Launchpad section, which can be found by navigating to the “Earn” drop-down menu. Here you can find ongoing and past Launchpool and Launchpad projects.

    2. Select the Anchor Protocol program and pick your staking method

    After locating the Anchor Protocol farming program from the list of ongoing and finished Launchpad and Launchpool projects, you will need to select which token you will be using for staking purposes – BNB, BUSD, or LUNA. Keep in mind that APY rates vary by staking method.

    3. Anchor Protocol Launchpool rewards calculation and token distribution

    Participation in the Anchor Protocol farming program provides Binance users with an opportunity to earn ANC tokens by staking BNB, BUSD, or LUNA. The rewards are distributed to users on a daily basis and split among pool participants based on the amount of funds they’ve contributed to the particular pool.

    The ANC farming pools will remain open until February 24, 2022, at 11:59 PM (UTC).

    You can provide additional funds to the staking pool or choose to redeem your holdings at any point during the staking period.

    Once you’ve entered your desired staking amount, you can click the “Stake” button to start earning ANC tokens. 

    You can easily access your Launchpool and Launchpad staking history by navigating to the left side of the screen in the “Savings History” section and clicking on the “Launchpool Farming” tab.

    4. Staking program starts on Jan. 26 and lasts for 29 days

    The ANC token farming program will commence on January 26, 2022, at 00:00 AM (UTC) and will last until February 24, 2022, at 11:59 PM (UTC). For more information about the program, visit the Binance Announcement page.

    5. How to redeem funds? 

    Binance allows Launchpad and Launchpad participants to redeem their holdings at any point during the staking period. Binance offers two types of redemption:

    • Fast redemption – Staked funds are available instantly, however, interests from the last day are not included.
    • Standard redemption – Staked funds are available the next day, along with the full interests from that day.

    In order to withdraw your staked digital assets from the staking pool, head to the Saving section on your account page and click “Redeem”.

    Proceed by selecting your preferred fund redemption method. “Fast Redemption” allows funds to be redeemed immediately, while the “Standard Redemption” method pays out the redeemed funds on the next day, upon daily interest are calculated.

    Binance offers a comprehensive selection of passive income-generating products and services, allowing users to take full advantage of their otherwise idle digital funds. Next to Launchpool and Launchpad programs, Binance users can also participate in DeFi Staking, Savings, Dual Investment, and Liquidity Farming. Keep in mind that each service provides different earning potential, which is usually directly correlated with the risk associated with each offering.

    BNB Vault is one of the best methods to earn interest on your crypto; the service that Binance describes as “BNB yield aggregator” combines Flexible Savings, BNB DeFi Staking, and Launchpool to provide the best APY earning opportunities for your BNB. For more information about the premier BNB investment product, click here.

  • How to NOT Lose $300,000 on Manual Trading? Here’s The Answer!

    How to NOT Lose $300,000 on Manual Trading? Here’s The Answer!

    The manual trading of cryptocurrencies is an arduous and risky endeavor. There is not only a steep learning curve to consider, but also the fact that traders often make mistakes, one could have avoided. Moreover, the decision-making aspect of trading is crucial, and automation tools continue to gain momentum in this segment.

    The Downsides of Manual Crypto Trading

    When people explore the idea of trading cryptocurrencies, they have a steep learning curve ahead. These complex markets introduce many opportunities but also some risks, which not everyone is comfortable with. Every entry made by a trader can have consequences – for better or worse – and making timely decisions is paramount. Unfortunately, that is all easier said than done with thousands of markets and trading pairs at one’s disposal.

    Manual trading is a risky business in the cryptocurrency world. Market conditions can change at any moment, and traders may not always make the right decision at the right time. In addition, there is too much data to consider, and market conditions may invalidate recent findings even after performing technical analysis. As a result, it is all too common to see traders losing money instead of pocketing a profit.

    Making matters worse are the horror stories of traders losing vast sums of money. One British trader recently lost nearly $300,000 through manual trading by making one costly mistake and not timing the shifting market momentum correctly. Although the trader had a solid long-term money-making strategy, all it took was a sudden bearish turn and forgetting to place stop-loss orders to nuke the portfolio completely.

    It is normal to make mistakes when engaging in manual trading. Users have a growing checklist of things to consider, including different order types, market conditions, portfolio rebalancing, freeing up liquidity at the right time, etc. Taking care of all these aspects manually is nearly impossible and puts much mental strain on the user. It is no surprise automated solutions continue to gain traction among crypto traders globally.

    How to avoid loss?

    While there are several ways to automate one’s crypto trading, the solution provided by Bitsgap checks the right boxes. It strikes a balance between automation, cloud-based support to make trading accessible on any device, and guaranteed order execution even if the exchange’s front-end would freeze up. Mainly, that latter aspect is crucial, as an exchange’s backend will usually remain operational even if the user interface gets overloaded.

    The automation nature of Bitsgap is accessible through bots operating on a grid-based approach. Users set their preferred grid (or trading range), and the bot will automatically buy cheaper and sell for a higher value. Any market provides profit potential, no matter how small it might be. Manual trading would not yield these constant small profits, as humans cannot act fast enough to explore these minute price gaps in time.

    More importantly, the Bitsgap solution is accessible through any device. Orders will be executed on the user’s behalf, whether one trades on a computer, phone, tablet, or other internet-connected device. The bots will run 24/7, providing you with the necessary peace of mind while sleeping.

    On the topic of order execution, an exchange outage will not disrupt the bots and how they approach market conditions. An exchange has a backend, which is usually always operating, even if the front-end is overloaded and freezes up. Bitsgap ensures orders are sent to the backend directly, ensuring operational continuity. More importantly, this solution helps anyone make long-term money without mistakes.

    This bot made a 37% Profit for 3 days on Spot Trading!

    45x Returns With No Emotions / Without Your Involvement

    The trading technology developed by Bitsgap is used by many traders worldwide. The Youtuber below netted a 45x increase in the portfolio through the Bitsgap trading bot within just four months. Achieving such results through manual trading is possible, but it would require a lot more work, stress, and the potential to make mistakes along the way.

    The all-in-one trading automation solution by Bitsgap is accessible by anyone. Moreover, it has backtesting functionality to give users an idea of how their settings would affect overall performance. Bitsgap does not take any fees from trades.

    Make sure to check out the 7-day free trial and upgrade your plan accordingly!

  • YouHolder, a Multi-Asset CeDeFi Platform, Adds AVAX, CAKE, and 8 Other Coins

    YouHolder, a Multi-Asset CeDeFi Platform, Adds AVAX, CAKE, and 8 Other Coins

    YouHolder, a CeDeFi platform that avails, among other services, crypto loans and swapping, is onboarding ten digital assets, including Avalanche (AVAX), 1INCH, and PancakeSwap (CAKE).

    YouHolder Adds 10 New Coins 

    In a press release shared on January 24, YouHolder said that besides the diversity in the number of supported coins, it would also be the first platform to offer up to 5.5 percent interest on Zilliqa (ZIL) and FTX Token (FTT). 

    Of note, YouHolder stands out as a platform supporting a variety of top-40 most liquid cryptocurrency assets, providing time-tested avenues for holders to make money. Added coins join the ranks of Bitcoin, USDT, BUSD, ETH, and more currently supported by YouHolder and whose depositors continue to earn attractive yields every week. BUSD depositors, for instance, earn a 10 percent APR and compounding interest from a secure wallet allowing instant transactions and weekly payouts.

    The co-founder of YouHolder, Ilya Volkov, said their CeDeFi platform is easing access to the rapidly expanding DeFi ecosystem, allowing users to participate in a simplified environment. 

    “DeFi allows consumers to earn interest on their capital through farming and staking, but the process is challenging and not that much user-friendly. And with staking, you need to lock two times more funds than you might want to since you need both the token and USDT.”

    Adding,

    “We’re seeing a lot of demand for these specific projects; they have growing communities, and as a CeDeFi platform, we want to remove the burden from our users and allow them to benefit from this economy.”

    A High Yielding Crypto Savings Account 

    YouHolder has clients from over 100 countries while offering a universal, secure platform for exchanging highly liquid digital assets in the top-40. However, one of their main attractions is the crypto savings account product where coin holders can deposit cryptocurrencies and earn comparatively high interest. Through its solutions, YouHolder effectively links the crypto and the real world, allowing token holders to use their cryptocurrencies without spending them. 

    Through YouHolder’s crypto savings account, interests begin accruing in the first week. At the end of every week, earned profits are deposited into the owner’s account. YouHolder further makes it easier for investors to determine how much they can earn within a given period. Notably, possible rewards earned can be estimated for up to 12 months.

    Swap Tokens for Fiat, Stablecoins, and Crypto

    YouHolder also supports swapping assets for other cryptocurrencies, fiat, or stablecoins. From the CeDeFi platform, users can exchange various assets while paying less and enjoying instantaneous settlement. Users can immediately purchase cryptocurrencies from their debit or credit cards and SEPA bank accounts. 

    The platform has also indicated that all card purchases are under the PCI Security Standard while all crypto operations adhere to the applicable Cryptocurrency Security Standard (CCSS). Furthermore, the team constantly carries out regular audits executed by reputable finance, accounting, and cybersecurity firms.

    Industrial Grade Security to Protect User Assets

    Guaranteeing the security of deposited assets are military-grade approved vaults used by YouHolder developed by crypto’s security veterans, Ledger Vault and Fireblocks. Specifically, Ledger Vault is a custody solution targeting institutions amid rising global interest in cryptocurrencies. 

    In 2021, the cumulative cryptocurrency market capitalization soared to breach the $2 trillion mark for the first time in history. Leading cryptocurrencies such as Bitcoin topped over $68k in leading cryptocurrency exchanges during that time. YouHolder is one of the many reputable players in the cryptocurrency field, including Bitstamp, Nexo, and UpHold, who use Ledger Vault to custody user funds.

  • MyCointainer Raises $6 Million in Seed Round to Develop Its Yield Earning Platform

    MyCointainer Raises $6 Million in Seed Round to Develop Its Yield Earning Platform

    Tallinn, Estonia, 26th January, 2022, Chainwire

    MyCointainer, a platform for easy yield staking, announced it has raised $6 million in a Seed Round. The event was led by Maple Block and co-led by Shima Capital & ByBit – one of the dominant cryptocurrency exchanges worldwide.

    Numerous high-profile angel investors also participated in the round. Among them are entities with rich portfolios comprising some of the most renowned industry brands like CoinList, Circle, and Polygon. ConsenSys, Near, 1inch, Algorand, Polkadot, dY/dX, Casper Labs, Mina, Ankr, and Enjin are also there. Most importantly, their support enhances MyCointainer’s potential and pinpoints a tight-knit collaboration for future projects.

    The company will use the funds to develop its yield-earning platform. This way, it will improve its current B2B products and expand its reach in Europe, Asia, the Middle East, and the rest of the world. Lastly, MyCointainer seeks to increase its expert team by hiring more professionals.

    Yield Earning on MyCointainer

    MyCointainer is a platform that enables customers to stake cryptocurrencies and tokens without any hassle. Users can start with as little as 1 EUR and have their pick from more than 100 digital assets, including Polkadot, Cardano, and Elrond. 

    Anyone can use MyCointainer to generate passive income through staking. The platform allows users to buy specific tokens or transfer them into their wallets. Then, it utilizes the power of blockchain protocols to generate more coins in the users’ balances as daily rewards. 

    Furthermore, participants can earn directly from their wallets through delegations. In other words, MyCointainer works like a digital piggy bank enabling people to enjoy their lives while their money works for them.

    Some assets generating the best profits on MyCointainer are Cartesi, Polygon, NEM, Synthetic, and Cardano. On average, the yearly rewards are close to 15%.

    Polygon is one of the most prestigious projects on MyCointainer, with almost 8,000 active participants at the time of writing. Furthermore, these users’ annual earnings are close to 12% on the platform. 

    Many consider Polygon as one of the potential payment forms of tomorrow. For instance, the project revolutionizes the blockchain community and creates a hub where users can interact with decentralized products. Above all, its presence on the platform enhances MyCointainer’s reliability and potential.

    MyCointainer’s Rise in the Crypto World

    Bartosz Pozniak, an entrepreneur with over 15 years of experience in shaping global digital products, founded and launched MyCointainer in 2018. Previously, he has worked in various industries, including investment banks, and in product teams for Barclays & Deutsche Bank in London.

    Pozniak built MyCointainer in its early years through self-funding and company-generated revenue. So far, the platform has generated over $3 million in rewards for its over 110,000 users. The company has a financial institution license in Estonia. Also, its most important markets include the UK, the USA, France, and Italy.

    In November 2021, MyCointainer joined forces with the industry-leading blockchain project Elrond and the Maiar Team. The partnership enables the trade of BTC/EGLD, EUR/EGLD pairs, and a simple proof-of-stake (PoS) mechanism. Also, it covers the patronage over the Maiar application. As a result, users can complete specific tasks and receive exclusive rewards from a total prize pool of $6000 in EGLD.

    Besides Elrond, MyCointainer has partnered with other important names in the industry, like Avalanche Labs, Waves & Cosmos. Also, the company worked closely with Crypto.com and many other fast and open blockchains for decentralized applications. These collaborations helped MyCointainer scale and grow its platform much further.

    Lastly, the MyCointainer team is growing at a remarkable speed. Today, the company employs more than 42 people and plans to expand even more with several new positions opening. Anyone interested in the available roles can visit their Careers page.

    About MyCointainer

    MyCointainer has taken the ambitious mission of providing easy access to various rewarding crypto mechanisms. This way, its users can benefit equally from a changing financial landscape and accelerate global crypto adoption.

    The MyCointainer team is available on Facebook, Telegram, and Discord, among other social media channels.

    Contacts

    CEO

    • Bartosz Pozniak
    • MyCointainer OU
    • marketing@mycointainer.com
  • JPMorgan Chase Closes Uniswap Founder’s Bank Accounts Without Notice

    JPMorgan Chase Closes Uniswap Founder’s Bank Accounts Without Notice

    The blockchain sector represents a modern and more transparent alternative to the traditional banking infrastructure, which is one of the reasons why established financial institutions have been taking advantage of their dominant position to artificially limit their crypto competition. The latest victim of such practices was Uniswap’s founder Hayden Adams, who got his JPMorgan chase accounts closed with no prior notice or explanation.

    Key takeaways:

    • Adams revealed that his JPMorgan chase bank account had been closed in a tweet on January 23. He said that the bank offered no explanation for their actions and added that he knows “many individuals and companies who have been similarly targeted simply for working in the crypto industry.”
    • Adams was obviously furious with his bank and concluded the tweet by stating, “Thanks for making it a personal.”
    • Commodity Futures Trading Commission (CFTC) Commissioner Brian Quintenz responded to Adams’ tweet and wrote that what happened to Uniswap’s founder is “likely a shadow de-banking of crypto” directed by the Fed and the OCC.
    • One of the replies in the Twitter thread came from none other than the Chase support account, that urged Adams to use the internal support system to resolve the “less than ideal experience.”
    • The high profile of Adams’ case drew attention from the broader crypto community. Several members chimed in to the discussion and shared their own stories of having their bank account closed without any explanation or prior notice.
    • Banks have a lot of leeway when dealing with their customers – if authorities deem a certain customer too risky, for instance, the bank is not required to reveal the reasons for the account closure to the customer.
    Founder of Uniswap Hayden Adams is convinced he got his account closed simply for working in crypto.