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Backpack, a crypto exchange with ties to FTX, has announced the launch of a new platform that allows creditors to sell their debt claims. This portal offers a fee-free solution for FTX users looking to sell their claims, operating on a non-profit basis to facilitate direct on-platform transactions. Backpack Portal to Support FTX Creditors In
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The post Trump’s Bitcoin Executive Order Revealed – But U.S. Lost $16B from Early Sales! appeared first on Coinpedia Fintech News
President Donald Trump has signed an executive order to create a Bitcoin Strategic Reserve to store assets seized by the government, along with a crypto stockpile for other digital assets. The Bitcoin, all obtained through civil or criminal forfeitures, will be stored for long-term value in a “digital Fort Knox.” David Sacks, Trump’s Crypto Czar shared this in an X post.
Besides, the order encourages officials to find ways to add more Bitcoin to the reserve, as long as it doesn’t hurt the federal budget. It also calls for a stockpile of other cryptocurrencies seized by the government.
While Sacks didn’t name specific assets, recent remarks from the president suggest which ones might be included. This move could give the U.S. a bigger presence in the world of digital assets.
Notably, the U.S. government has been sitting on a large amount of Bitcoin and may have missed out on significant profits by selling it too early. The new executive order seeks to correct this by creating a reserve that will keep these assets for the long term.
According to Lookonchain, the U.S. government’s public wallet currently holds 198,109 BTC, valued at approximately $16.92 billion. Historically, the government has transferred around 222,684 BTC to platforms like Coinbase, Coinbase Prime, and other unknown wallets. These transactions took place at an average price of $14,736 per Bitcoin, totaling about $3.28 billion at the time.
However, with Bitcoin’s current market price, those same 222,684 BTC are now worth about $19.42 billion. This means that the U.S. government has incurred a loss of roughly $16.14 billion due to selling Bitcoin prematurely.
This highlights the missed potential value as Bitcoin’s price continues to rise, reinforcing the need for a strategy that preserves these digital assets for long-term value, as outlined in the new executive order.
Bitcoin dropped nearly 5% to $85,000 shortly after the order was announced, possibly due to disappointment that the reserve only includes tokens already held by the government, with no new purchases for now.
Ethereum (ETH), Ripple (XRP), Cardano (ADA), and Solana (SOL) also witnessed sharp drops of 4%-8%, as the order doesn’t allow for new government buys of these cryptocurrencies.
The post Trump’s Bitcoin Executive Order Revealed – But U.S. Lost $16B from Early Sales! appeared first on Coinpedia Fintech News
Trump Signs Executive Order President Donald Trump has signed an executive order to create a Bitcoin Strategic Reserve to store assets seized by the government, along with a crypto stockpile for other digital assets. The Bitcoin, all obtained through civil or criminal forfeitures, will be stored for long-term value in a “digital Fort Knox.” David …
The post MultiBank (MBG) Token Analysis: A Standout Opportunity in the CEX Token Landscape appeared first on Coinpedia Fintech News
After examining the major centralized exchange tokens like BNB, OKB, CRO, and others, MultiBank’s MBG token emerges as a particularly compelling opportunity that combines institutional credibility with innovative tokenomics. Here’s an in-depth analysis of why MBG stands out in the current market landscape.
MBG’s tokenomics structure appears more aggressive in its deflationary approach than most established CEX tokens:
This aggressive deflationary model could accelerate scarcity, potentially driving price appreciation more rapidly than competitors if trading volume meets expectations.
MBG integrates multiple utility functions that have proven successful across other CEX tokens:
What’s notable is how MBG has integrated the most successful utility elements from various exchanges while adding unique features that align with modern trading behaviors like social trading.
This is where MBG truly distinguishes itself from most CEX tokens:
While tokens like BNB have faced ongoing regulatory scrutiny and uncertainty, MBG begins with established regulatory compliance, potentially offering greater stability and institutional confidence.
MBG is strategically positioned at the intersection of two powerful trends:
This dual positioning is unique among CEX tokens, most of which lack the regulatory framework and TradFi connections to meaningfully participate in the RWA narrative.
Unlike established CEX tokens with mature valuations, MBG represents an early-stage opportunity:
When compared directly to leading CEX tokens, MBG offers several distinct advantages:
| Feature | MBG (MultiBank) | BNB (Binance) | OKB (OKX) | CRO (Crypto.com) |
| Regulatory Standing | 17 licenses across 5 continents | Regulatory challenges in multiple jurisdictions | Some regulatory hurdles | Regulated but less extensive |
| TradFi Integration | Direct connection to $4.5T trading volume | Limited TradFi connections | Limited TradFi connections | Some TradFi features via card offerings |
| Burn Mechanism | Up to 50% of supply, volume-linked | Quarterly burns, aiming for 50% reduction total | 30% of spot trading fees | 20% of transaction fees |
| Growth Stage | Early-stage opportunity | Mature market leader | Established mid-cap | Established mid-cap |
While the opportunity appears compelling, potential risks should be considered:
MBG represents a unique opportunity at this precise moment for several reasons:
MultiBank’s MBG token represents a compelling opportunity that combines the best elements of established CEX token models with unique advantages:
For investors seeking exposure to the CEX token sector, MBG offers a unique value proposition that merges institutional credibility with crypto innovation at an early stage of development. The combination of established TradFi infrastructure, aggressive tokenomics, and comprehensive utility creates a potentially powerful value proposition in the current market environment.
The post MultiBank (MBG) Token Analysis: A Standout Opportunity in the CEX Token Landscape appeared first on Coinpedia Fintech News
After examining the major centralized exchange tokens like BNB, OKB, CRO, and others, MultiBank’s MBG token emerges as a particularly compelling opportunity that combines institutional credibility with innovative tokenomics. Here’s an in-depth analysis of why MBG stands out in the current market landscape. I. Tokenomics: Strategic Scarcity by Design MBG’s tokenomics structure appears more aggressive …
In response to the rapidly evolving crypto trading landscape and increasing expectations for app quality from users, Gate.io is launching a completely revamped version of its app, V7.0, designed to redefine how users experience crypto trading. This update focuses on usability, efficiency, and a seamless interface to ensure that trading is not only functional but also intuitive and fast.
The V7.0 update introduces a minimalist ethos and redesigns the front-page structure, prioritizing clarity and efficiency. By eliminating unnecessary clutter and optimizing the layout, the new interface allows users to access core features with just one tap, streamlining the trading process.
The updated visual is unified in style, featuring cohesive color schemes and finely tuned graphic elements to reduce visual fatigue, enhancing overall usability. New ergonomic icons and buttons make navigation smoother, turning each interaction into a natural, precise action.
Beyond design, Gate.io’s tech team has optimized the app’s performance, leveraging advanced algorithms and intelligent caching. The result is a faster, more responsive experience.
Especially in scenarios like new token listings and financial transactions, the new version of the app simplifies workflows and optimizes the interface. According to industry benchmarks, the new app boosts transaction efficiency by 40%, enabling users to react quickly to market fluctuations.
This update also aligns with Gate.io’s broader visual strategy, unifying the look and feel across mobile and web platforms. This ensures a consistent, immersive brand experience, enhancing recognition and fostering a professional yet approachable image in the Web3 space.
Gate.io’s app update isn’t just about a fresh look. It’s a comprehensive overhaul based on user behavior, psychology, and trading patterns. In a competitive market, this update positions Gate.io as a platform that listens to its users’ instincts and delivers both practical tools and a user-friendly experience.
With app V7.0, Gate.io reinforces its commitment to putting users first while pushing the boundaries of crypto trading tools. In the future, Gate.io will continue to innovate and prioritize user experience, pushing the industry to evolve towards a more efficient, intuitive, and intelligent direction.
Disclaimer: This content does not constitute an offer, solicitation, or recommendation. You should always seek independent professional advice before making investment decisions. Gate.io may restrict or prohibit certain services in specific jurisdictions. For more details, please read the User Agreement: https://www.gate.io/zh/user-agreement.
The post Gate.io App Redesigned: Seamless Crypto Trading at Your Fingertips appeared first on BeInCrypto.