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Global Crypto Offering Exchange (GCOX) is the crypto token exchange that helps celebrities create, list and trade their own crypto tokens, known as Celebrity Tokens. 
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Manny Pacquiao To Launch His Celebrity PAC Token on GCOX IEO Platform

Fans of boxing champion Manny Pacquiao have reason to celebrate this week. The star is launching his PAC token on the Sparkle IEO platform of the GCOX exchange. Pacquiao, who is currently the reigning world welterweight champion, announced he would be launching his own token back in September. The IEO is running over three days starting November 12, after which the token will be listed for trading on GCOX. PAC is the first such “celebrity token” and the latest entrepreneurial effort from the multi-talented Manny Pacquiao. Alongside his stellar boxing career, he’s also an elected Senator in his home country of the Philippines, and has made successful forays into basketball, music recording, and acting. Pacquiao. Image source: FOXnews Now, he also has his own digital currency. The PAC token will enable fans to interact with the Pacquiao brand, including buying merchandise, requesting mentions on social media, and even attending exclusive events. It’s the first time a celebrity has launched a cryptocurrency like this, effectively tokenizing their brand. Pacquiao is partnering with Singaporean exchange GCOX, which is planning to become the exchange of choice for “celebrity tokens.” Other stars will no doubt be following the progress of the PAC launch very closely. Former England and Real Madrid striker Michael Owen, tennis player Caroline Wozniacki, and R&B singer Jason Derulo are all reportedly already invested in the idea of launching their own tokens on GCOX. A member of the Abu Dhabi royal family is also involved. GCOX CEO, Sir Dr. Jeffrey Lin, GCOX CEO, said that this kind of IEO might be the first of many: “The PAC token is the first asset to combine blockchain technology with fan culture and given the devotion of Manny’s supporters – not just in Asia but throughout the world – we are confident that the newly-issued tokens will be a success.” A Ripe Market Does this mean we’re headed for a celebrity token revolution? Well, the success of the PAC token remains to be seen, but it seems inevitable that Pacquiao’s legions of fans will be interested in owning a token that gives them privileged access to their hero. And if the PAC token is successful, others will surely follow. Social media has already created a culture where fans can get closer to their favorite celebrities than ever before. Plenty of big names use social media to interact with their supporters, including megastars such as Lady Gaga, Justin Timberlake, and Chrissy Teigen. Many celebrities these days achieved their status using nothing more than social media itself, such as YouTube stars like Zoella or PewDiePie. The global Instagram influencer market is expected to net in a cool $1.7 billion this year alone, rising another $600 million next year. If there’s an opportunity to cash in further using digital tokens, it seems inevitable that both celebrities and brands will take it. The Next New Category of Crypto? For the cryptocurrency space, it could be that celebrity tokens are the next big token category. If we look at specific categories of coins, it’s clear that in several cases, the early pioneers saw an opportunity. Tether was the first stablecoin, and now we have TrueUSD, USD Coin, Paxos Standard, along with their decentralized cousins like DAI. Exchange coins are another example, pioneered by Binance with the BNB coin. Since then, Huobi token, KuCoin Shares, and Bitfinex’s LEO token have all followed suit. Even more intriguing is the possibility that celebrity tokens could be the catalyst for crypto to break into the mainstream. There has been much talk of Facebook’s Libra this year, putting cryptocurrency on the front page of international news outlets. However, so far, Libra hasn’t launched, meaning all the headlines haven’t necessarily translated into increased adoption of digital currency. If big names do start following in the footsteps of Manny Pacquiao by launching their own token, it will spur people who’ve never previously considered owning crypto to open an exchange or wallet account. After all, it’s the same rationale that brands use when partnering with celebrities and influencers. Given that Paquiao is one of the most successful sportsmen of his generation with a worldwide fan base, it seems unlikely that his token will fail. It remains to be seen though, whether other celebrities will follow his lead. If they do, and the celebrity token becomes the hot new token category of 2020 – then remember, you read it here first. The post Manny Pacquiao To Launch His Celebrity PAC Token on GCOX IEO Platform appeared first on CryptoPotato.
CryptoPotato

Boxing Star Manny Pacquiao’s PAC Token Is to Be Available for Purchase on GCOX

Coinspeaker Boxing Star Manny Pacquiao’s PAC Token Is to Be Available for Purchase on GCOXIn September of this year, a famous boxing figure Manny Pacquiao rolled out his own cryptocurrency dubbed PAC token. Starting from today, the token is available for purchase on Singapore’s Global Crypto Offering Exchange (GCOX).How Does PAC Token Work?PAC token was launched by the boxing legend and Philippines politician Manny Pacquaio as a way to get closer to his fans. Listed on GCOX, the PAC token can be used by millions of boxer’s supporters worldwide not only for the purchase of his merchandise but also for communication with the champion on several social media platforms. Among its private investors, we can name English former footballer Michael Owen, as well as a key member of the Abu Dhabi ruling family, Sheikh bin Zayed al-Nahyan.Manny Pacquaio stated:“PAC token can be used for several purposes, and also for me to reach out to my fans all over the world.”“Through this robust ecosystem, I will be able to help my fans save money while promoting good value products and driving traffic to merchants who support me. Everybody wins in this ecosystem. This is my opportunity to give back to the community that has made me who I am today,” explained he.As founder and CEO of GCOX Jeffrey Lin stated, the exchange is open to floating new cryptocurrencies and collaborating with celebrities who have decided to leave their own mark in the history of the distributed ledger technology. Among these celebrities are American singer Jason Derulo and tennis champion Caroline Wozniacki who are preparing to launch their own cryptos.According to Lin, they are not here to raise a lot of money but to build an ecosystem. He commented on the PAC token:“The PAC token is the first asset to combine blockchain technology with fan culture, and given the devotion of Manny’s supporters.”“While Senator Manny is busy serving his people, we hope to help him reach out to his fans and engage them regularly. By having his PAC Tokens, they become a privileged group who will have opportunities to connect with him on a whole new level. GCOX will provide such a revolutionary fan-celebrity engagement platform,” added Lin.The PAC token is similar to other cryptocurrencies in its functioning and possible ways for use. It can be used as a means of payment, as a way to get attractive prizes and rewards, and as a way to communicate with the boxing idol.Boxing Star Manny Pacquiao’s PAC Token Is to Be Available for Purchase on GCOX
Coinspeaker

Celebrity-Founded Pac Token IEO Campaign To Launch On GCOX

The Initial Exchange Offering (IEO) of a celebrity coin called PAC Token (PAC) has gained the attention of the crypto community. However, this is a token for a “select few” due to the distribution strategy that has been put in place. It is an IEO where a first-come-first-served basis will not apply, but rather, an electronic ballot system will determine who gets the coin. What’s more, PAC is backed by a celebrity, and given how past cryptocurrency ventures launched by stars ended in shambles, a lot of fingers are crossed. Will PAC be a huge success and possibly the next big thing? Or will it like others before its time leave investors holding a bag of worthless tokens? Who knows! What is Pac Token? PAC Token (PAC) is an ERC-20 token that rides on the popularity of Manny Pacquiao, a Senator in the Philippines, and a professional boxer. The cryptocurrency was launched on September 1, 2019, at “A Concert For Champions” held in Manila, Philippines. These tokens are aimed at bringing the Filipino boxer closer to his fans by giving his sizable followers access to fan-celebrity programs powered by Singapore’s GCOX exchange. In the same vein, fans can connect with the pro-fighter on social media. The crypto asset can also be used to redeem products such as Pacquiao’s autographed glove or exclusive VIP box seats at boxing matches. It can be donated to Pacquiao to support his cause. On the other hand, England soccer star Michael Owen and Sheikh Khaled bin Zayed al-Nahyan, a member of Abu Dhabi’s ruling family, are reportedly private investors of PAC. Who is Manny Pacquiao? Emmanuel Dapidran Pacquiao, popularly known as Manny Pacquiao, is a man of many interests. He is a politician who has been a serving Senator in the Philippines since 2016. Likewise, the 40-year-old is a renowned boxer who has several accolades to his name. According to Wikipedia, he is “one of the greatest professional boxers of all time.” The Boxing Writers Association of America (BWAA) also named Pacquiao, “Fighter of the Decade 2000”. Forbes, on the other hand, ranked him as the second-highest-paid athlete in the world as of 2015. Despite Pacquiao’s interest in politics and sports, he is now dabbling with blockchain technology, which has led to the launch of his cryptocurrency, Pac Token. Pac Token IEO Campaign on GCOX Exchange The Pac Token (PAC) will be distributed in an Initial Exchange Offering (IEO), instead of an Initial Coin Offering (ICO) since it is offered through an exchange. PAC’s IEO has been scheduled to take place on GCOX Sparkle, the IEO platform on GCOX (Global Crypto Offering Exchange). The IEO will start on November 12, 2019, at 9 pm (GMT+8), to end on November 14, 2019. Three rounds of sales have been slated, and each round will last for three hours. Also, 700,000 PAC tokens will be offered, and each token will cost $0.30 USD. Token Balloting System to Aid in Acquiring PAC During IEO The fact that a renowned celebrity backs PAC has earned it much attention, which means there will be more people willing to buy despite the fact that there are just a few tokens to go round. A system has, therefore, been devised to allocate tokens during the campaign. That being the case, it won’t be on a first-come, first-served basis. Instead, GCOX has chosen to use a Token Balloting system to determine who can acquire PAC during then IEO. According to the exchange, each account on the GCOX Sparkle is limited to one subscription as well as a minimum and maximum subscription amount of $30 and $1,200, respectively. At the completion of the IEO, an electronic ballot will allocate tokens to individuals. However, these tokens will be credited to the wallets of participants on November 19, 2019, by 6 pm (GMT+8). Deducing from this logic, not very many people are going to get their hands on this token, given the policy that has been put in place. Nonetheless, it may increase the token’s demand from Pacquiao’s fan base and potentially impact on its price positively. About GCOX GCOX is a decentralized exchange owned by GCOX Group, a group of companies in different industries, including entertainment, finance, and technology. The exchange was founded in 2017, and it became the first cryptocurrency exchange to collaborate with LaLiga, a Spanish football division. GCOX is focused on promoting celebrities and brands using its ACCLAIM blockchain. Stars can develop their popularity, raise funds, etc. using GCOX. As such, it does not come as a surprise that this exchange is chosen for the PAC IEO. However, PAC will be the first celebrity token IEO to launch on the GCOX Sparkle platform. Other celebrities like American singer Jason Derulo, Tennis ace Caroline Wozniacki, and English soccer star Michael Owen are rumored to plan to launch their crypto tokens on GCOX soon. Conclusion PAC Token is the first celebrity coin to go on sale on the GCOX cryptocurrency exchange. It is backed by Manny Pacquiao, a politician, and boxer who has garnered a sizable number of fans that can increase PAC’s demand. And despite the failed attempts of other crypto ventures by celebrities, PAC Token is likely to come out strong. Website: https://pactoken.io/ Telegram: https://t.me/pactoken Facebook: https://www.facebook.com/pactoken.io/ YouTube: https://www.youtube.com/c/GCOXOfficial Twitter: https://twitter.com/GCOX_official Instagram: https://www.instagram.com/gcox_official/ IEO Page of GCOX Exchange: https://gcox.com/cms/detail/218801924428791808 Disclosure/Disclaimer: This article is sponsored and produced by a third-party source and should not be viewed as an endorsement by ZyCrypto. Readers are urged to do their own research before investing or having anything to do with the company, goods and/or services mentioned in the above article. The post Celebrity-Founded Pac Token IEO Campaign To Launch On GCOX appeared first on ZyCrypto.
ZyCrypto

Professional Boxing Icon, Manny Pacquiao, and His PAC Token Will Be Available Starting Nov 12

Professional Philipino boxer and politician, Emmanuel (“Manny”) Dapidran Pacquiao’s PAC token is anticipated to be made available on Tuesday, November 12, 2019. For those interested, the place to seek out the token will be on none other than GCOX cryptocurrency exchange, which is a Singaporean-based exchange. Initially launched in September of this year, the intended […]
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Manny Pacquiao KOs Mayweather in Launching his Own CryptocurrencyManny Pacquiao KOs Mayweather in Launching his Own Cryptocurrency – CCN Markets

By CCN Markets: Philippine boxer Manny Pacquiao has unveiled his own self-branded cryptocurrency known as ‘Pac’, Reuters reports. The Pac token will be available on Singapore’s Global Crypto Offering Exchange (GCOX). Plans to launch the cryptocurrency were initially announced last year in March. The Pac cryptocurrency will basically be a utility token and will be […] The post Manny Pacquiao KOs Mayweather in Launching his Own Cryptocurrency appeared first on CCN Markets Boxing champion Manny Pacquiao has unveiled a cryptocurrency known as 'Pac' that will be used to promote his brand and merchandise.
CCN

Celebrity Boxing Champion Manny Pacquiao Launches Own ‘PAC’ Tokens

Coinspeaker Celebrity Boxing Champion Manny Pacquiao Launches Own ‘PAC’ TokensIn recent times and with the adoption of cryptocurrency growing at a steady rate, there has been no shortage of interesting entities – both corporate and individual – entering the cryptocurrency sector to be a part of the relatively new technology. Now, popular Filipino professional boxer and senator, Emmanuel Dapidran Pacquiao, aka Manny Pacquiao, has launched his own digital currency dubbed ‘PAC’ on the 1st of September, at a free concert held at the Philippine capital of Manila.Pacquiao who won against Keith Thurman to become the current World Boxing Association welterweight champion, performed music from his own album at the concert, which featured covers of many well-known love songs.Pac TokensPacquiao’s Pac tokens will reportedly be listed on Singapore’s Global Crypto Offering Exchange (GCOX) and is slated to be used by his millions of fans and supporters worldwide, for easy purchase of his merchandise, as a way to win “attractive prizes and rewards,” and also for communication with the boxing champion on several social media platforms.Apart from Pacquiao himself, the Pac tokens also has a few other private investors including English former footballer Michael Owen, as well as a key member of the Abu Dhabi ruling family, Sheikh bin Zayed al-Nahyan. The official website for the asset also mentions that the boxing superstar’s status and popularity will be leveraged for adoption of the tokens.“PAC Token (PAC) rides on the advantage of blockchain by transforming the popularity and brand of Manny Pacquiao into crypto tokens which are quantifiable and exchangeable. Millions of fans will now be able to get closer to their idol Manny Pacquiao by having access to his bespoke fan-celebrity programmes powered by GCOX.”The Global Crypto Offering ExchangeEven though 40-year-old Pacquiao has now gone into history as the first celebrity to release his own cryptocurrency, he isn’t the only one currently working on doing this. Reportedly, American singer Jason Derulo, as well as Tennis star Caroline Wozniacki, are also in the works with plans to release their own digital currencies as well. When both are ready, they will be listed on the GCOX, just like the Pac tokens.Jeffrey Lin, founder and CEO of GCOX, has commented on GCOX’s willingness to float these several assets. According to him, GCOX is not being driven by the potential profit from these endeavours. Lin said:“We are not here to raise a lot of money but to build an ecosystem.”GCOX’s white paper reveals that the service is powered by the Acclaim blockchain but also does mention that it has a design that will significantly benefit celebrities, tailored to whatever stage they are in their line of business.Last year, when it was announced that Jason Derulo was working on his own token, the GCOX Chief Communications Officer, Evan Ngow, suggested that many more celebrities would eventually become a part of the GCOX family. Ngow said:“We are committed to assembling a diverse, multi-talented array of stars at GCOX, and Jason will certainly not be the last musician to join our ranks.”Celebrity Boxing Champion Manny Pacquiao Launches Own ‘PAC’ Tokens
Coinspeaker

Boxing Champ Pacquiao Launches First Celebrity Cryptocurrency – Here’s How it Works

World Boxing champion and politician, Manny Pacquiao launched his cryptocurrency. The eight-time division world champion announced its launch at his free concert in Manila yesterday. Global Crypto Offering Exchange (GCOX) exchange will list the token. The Singapore-based exchange is a platform for celebrities to launch personalized tokens. Manny Pacquiao and former England and Real Madrid striker Micheal Owen are also private investors and advisors to GCOX. Recently, the Exchange also signed a partnership with La Liga, the tier 1 Spanish Football league to issue ‘La Liga’ tokens. These will be available for customers in the Middle East and Asia. Jeffrey Lin, the CEO of GCOX told the media, “This partnership will allow us to provide specific customer groups with opportunities, as well as attracting new customers and football fans, who will get to experience what La Liga is all about.” The idea behind these partnerships is to provide a platform for fans worldwide to engage with their favorite celebrities and events. Some of the other stars who have shown interest in releasing their crypto on the platform include tennis superstar Caroline Wozniacki and award-winning pop artist Jason Derulo. As reported earlier on CoinGape, Pacquiao’s arch-rival Floyd Mayweather and DJ Khalid were charged by the SEC for participating in ICOs. However, the new tokens launched in the market are backed by accredited investors. As citied by Mati Greenspan is gives them “leeway” over regulatory concerns. Furthermore, these “celebrity tokens” are essentially fungible digital assets exclusively for the fans. It will provide incentives for its users. The revenue from the sales will primarily back the value of the tokens. Do you think that cryptocurrency will help in increasing global engagement for fans? Please share your views with us.  The post Boxing Champ Pacquiao Launches First Celebrity Cryptocurrency – Here’s How it Works appeared first on Coingape.
CoinGape

[VIDEO] Top Blockchain and Cryptocurrency Highlight News For Today October 22nd

Professional Tennis Player Caroline Wozniacki Launches Cryptocurrency with GCOX Partnership Professional Tennis Player Caroline Wozniacki Launches Cryptocurrency With GCOX Partnership Michael Clarke's Crypto Project Global Tech Exchange Ends ICO After $50 Million Fundraising Attempt Michael Clarke's Crypto Project Global Tech Exchange Ends ICO After $50 Million Fundraising Attempt Fundstrat's Thomas Lee Says $25,000 BTC Price Still Viable in Bitcoin's Year Long Bear Market Fundstrat's Thomas Lee Says $25,000 BTC Price Still Viable in Bitcoin's Year Long Bear Market Quoine's Liquid Trading Platform Opens 25x Margin Trading on BCH Pairings Quoine's Liquid Trading Platform Opens 25x Margin Trading on BCH Pairings Cyberspace Admin of China (CAC) Shares New Blockchain Service Providers Regulation Cyberspace Admin of China (CAC) Shares New Blockchain Service Providers Regulation European Securities and Markets Authority (ESMA) Discusses Crypto Asset Regulation with Current Laws European Securities and Markets Authority (ESMA) Discusses Crypto Asset Regulation with Current Laws American Retail Group ICO Ordered to Suspend Trading After Fake SEC Registration Claims American Retail Group ICO Ordered to Suspend Trading After Fake SEC Registration Claims Country of Spain Drafts New Crypto Law to Make Investors Disclose All Bitcoin Holdings Country of Spain Drafts New Crypto Law to Make Investors Disclose All Bitcoin Holdings New Russian Crypto Draft Bill is Being Established to Digitize Shares via Blockchain Technology New Russian Crypto Draft Bill is Being Established to Digitize Shares via Blockchain Technology Dutch Bank, Samsung SDS and BlockLab to Test Blockchain in New Shipping Port Partnership Dutch Bank, Samsung SDS and BlockLab to Test Blockchain in New Shipping Port Partnership Synthetic Minds Raises $5.5 Million in Funding Backed by Pantera Capital Synthetic Minds Raises $5.5 Million in Funding Backed by Pantera Capital Tiger Global Venture Successfully Raises $3.75 Billion in Funding, Possibly Led by Coinbase's $500 Million Tiger Global Venture Successfully Raises $3.75 Billion in Funding, Possibly Led by Coinbase's $500 Million Bakkt Bitcoin Futures Trading Platform Officially Launches December 12, 2018 Bakkt Bitcoin Futures Trading Platform Officially Launches December 12, 2018 Sia Blockchain Network Shares New Hard Fork Code to Ban Crypto ASIC Miners Sia Blockchain Network Shares New Hard Fork Code to Ban Crypto ASIC Miners [Cryptocurrency Investor Warning] Plus Token Wallet Reported as a Scam [Cryptocurrency Investor Warning] Plus Token Wallet Reported as a Scam Bylls Crypto Startup Says Workers Getting Paid in Bitcoin is Key to Mass Adoption and Use Cases Bylls Crypto Startup Says Workers Getting Paid in Bitcoin is Key to Mass Adoption and Use Cases VeChain Blockchain Project Decent.Bet (DBET) is Set to Launch DApp Mainnet in October VeChain Blockchain Project Decent.Bet (DBET) is Set to Launch DApp Mainnet in October VISA and IBM Partner For Visa B2B Connect Launch as Blockchain Digital Identity Solution VISA and IBM Partner For Visa B2B Connect Launch as Blockchain Digital Identity Solution Developers Behind Bitcoin Cash’s Wallet Yenom Propose New Payment Protocol Developers Behind Bitcoin Cash’s Wallet Yenom Propose New Payment Protocol Circle CEO Urges World’s Economies to Establish Global Cryptocurrency Rules Circle CEO Urges World’s Economies to Establish Global Cryptocurrency Rules
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Professional Tennis Player Caroline Wozniacki Launches Cryptocurrency With GCOX Partnership

Caroline Wozniacki Launches Personal Cryptocurrency Token in Partnership With GCOX Caroline Wozniacki, currently ranked as number two in female tennis worldwide, has reached a deal with the Singapore-based Global Crypto Offering Exchange (GCOX) for the launch of her cryptocurrency token. Caroline is one of the many superstars that have agreed with GCOX to create personalized tokens. Others include Michael Owen, Manny Pacquiao and Jason Derulo. In exchange for the tokens, fans will receive exclusive collectibles form their favorite celebrities. GCOX would generate revenue from transaction fees. During the signing of the deal, Wozniacki told Reuters that she felt honored for being the first female to have her own cryptocurrency token. She added that she plans to grow her token before more celebs introduce their own. Wozniacki has been successful this year, winning both the Australian and Chinese Open tournaments. The first celebrity token from GCOX is expected to become available in Q1 2019. The exchange has revealed that Pacquiao, Owen and Abu Dhabi’s Sheikh Khaled bin Zayed al-Nahyan as private investors to the company. As mentioned earlier, users will have access to exclusive merchandise belonging to their preferred celebs if they buy their tokens. On the other hand, celebrities would earn from the token sales Before buying celebrity tokens, users must first purchase ACM tokens, the native cryptocurrency of the GCOX platform. According to the GCOX website, the ACCLAIM token (ACM) is the base token for all celebrity tokens on GCOX. The total supply is 1 billion ACM tokens. The token will also act as the means of exchange of the various celebrity tokens on GCOX. Jeffrey Lin, the CEO of GCOX, told Reuters that they intend to raise $600 million from ACM token sales. Ultimately, GCOX aims to become a global leader in indexing the popularity of various celebrities. By facilitating interactions between fans and their favorite superstars, this platform uses blockchain technology to create value for fans, celebrities and investors. Lately, there has been an increased partnership between sporting institutions and digital currencies. PSG and Juventus recently became the first popular football teams to declare intentions of launching cryptocurrency tokens for fans. Similarly, Cardiff City and Newcastle United have revealed their pans of fundraising through digital currencies. Finally, many cryptocurrency platforms are currently using celebrities and sports superstars to promote their projects. This has prompted the SEC to issue a statement ordering celebrities to reveal the nature and amount of compensation they get from participating in such promotions.
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Will Celebrity Tokens on Global Crypto Offering Exchange (GCOX) Hit Mainstream Adoption

Are Celebrity Tokens Worth the Hype? Caroline Wozniacki, the world number female tennis player, has announced that she will launch her own cryptocurrency token on the Global Crypto Offering Exchange (GCOX). The token holders will redeem their tokens for a variety of exclusive items. The GCOX trading platform is renowned for signing deals with popular sports celebrities across the world. In addition to Wozniacki, the exchange has also reached agreements with former English Footballer, Michael Owen and Filipino boxing legend, Manny Pacquiao. After tokenizing this figures, GCOX hopes to establish a popularity index that compares the performances of various superstars. Additionally, GCOX intends to introduce the support for trading pairs involving ACM, the platform’s native token, and the various tokens affiliated to the celebrities. The celebrity tokens can be used to acquire exclusive items form the stars. Some of the items on offer include pay-per-view streaming, interactive sessions and meeting the celebrities physically. Also, users will have access to auctions where they can sell items in exchange for the personalized celebrity tokens. Jeffery Lin, the CEO of GCOX, hinted that the first token could go live in 2019 Q1. As mentioned earlier, the platform will act as a popularity index for the tokenized superstars. The popularity will be gauged using the market cap value of each specific token. The developers of the GCOX platform are confident that the inclusion of celebrities will encourage more people to embrace the concept of a tokenized economy. Due to the flurry of blockchain projects in the crypto space, the strategy adopted by the GCOX platform seems to be a cumbersome means of achieving an obstinate outcome. Moreover, most celebs are unlikely to subscribe to this idea. The objective of the GCOX platform can easily be realized using an ICO model. In that case, investors would buy tokens which can be used to vote for their favorite celebrity in exchange for the items offered by GCOX. Fundamentally, there is no need for each celebrity to have their own personalized token. Also, the listed celebs are putting themselves at risks of being sued for issuing unlicensed securities.
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Crypto Exchange LedgerX Sends Its Co-Founders on Leave

Twitter rage expressed by CEO Paul Chou isn’t sitting well with the board of LedgerX. The cryptocurrency exchange’s board of directors send co-founder Juthica and Paul Chou on administrative leave. A new interim CEO The Chous’ leave became effective “immediately” and hired Larry E. Thompson as the interim CEO. The board did not reveal the reasons why the founders were removed from the company’s everyday operations. However, the news is being linked with the company’s tussle with the CFTC. In August this year, Paul Chou spoke about the Commodity Futures Trading Commission (CFTC) in great detail, narrating how the regulator had broken the law. In an expletive-filled rant, he talked about bias at the regulator’s end. During the same month, the company had prematurely announced the availability of cryptocurrency futures to US-based retail investors. It was competing with ICE-backed Company Bakkt to launch regulated futures in the US. The new CEO Thompson isn’t a Twitter-ranting founder, but an experienced Wall Street executive with over 30 years of an illustrious career under his belt. He was working at the vice-chairman of the Depository Trust & Clearing Corp. before joining Ledger. He will also work as the lead director of Ledger Holdings. LedgerX’s regulatory problems LedgerX is a US-based company providing clearinghouse and Bitcoin derivatives services. It provides a swap execution facility for institutional cryptocurrency traders who have at least $10 million in assets. Paul Chou and the company have not commented on the move yet. However, CoinDesk reported that they had talked to Juthica Chou on email. She noted that the “board composition is tricky” and no one knows about derivatives, Bitcoin and computer science. She added that disagreements and conflicts with the board become difficult because of their lack of expertise in the field. However, she wished the new management well on her and Paul’s behalf. Some documents received by the publication reveal that the company’s leadership didn’t believe in fair practices at the regulator. They thought that Christopher Giancarlo, the former chairman of CFTC held “personal animus” towards the company because of Paul Chou’s comments. The post Crypto Exchange LedgerX Sends Its Co-Founders on Leave appeared first on Cryptovibes.com - Daily Cryptocurrency and FX News.
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Binance Defends Matic After Altcoin Dives 60% Due to ‘Panic’ by Whales

Binance Defends Matic After Altcoin Dives 60% Due to ‘Panic’ by Whales Ethereum (ETH) based cryptocurrency payment network Matic has described as “baseless” claims it manipulated the price of its token after it crashed 60% in minutes. In a blog post on Dec. 10, executives addressed community participants who saw the value of the project’s […] Cet article Binance Defends Matic After Altcoin Dives 60% Due to ‘Panic’ by Whales est apparu en premier sur Bitcoin Central.
Bitcoin Central

Matic Network (MATIC) Team Explains Sudden Token Flash Crash

The Matic Network (MATIC) token went through a crisis, erasing more than 50% of its price in the past day, to drop to $0.02. The price crash, however, follows a period of wild appreciation on a parabolic trend, as MATIC more than tripled its price and moved to a record above $0.04. Fears of Team Dumping Tokens Now, the price action of MATIC is starting to suggest a pump-and-dump event. However, the team has moved in to explain what’s going on with the volatility. The crash in price seems to be a direct effect of messages circulating which suggest that the team was performing suspicious token movements. Rumors spread about the MATIC team moving tokens from its Foundation account, sparking fears the team may dump the assets at the recently peaking prices. The team had already announced a small release of funds, of around 248 million MATIC, or 2.5% of the supply. But the unlocked tokens were meant to be used for staking and securing the network, as the team explained in a detailed blog. The 248 million tokens were also meant for investors and advisors, on which the decision to sell was not guaranteed. Matic had NO role to play in all this. For token movement, We announced the release of ~0.25% (248mn) tokens as Oct unlock, which coincides with aggregated outward movement. Foundation tokens are still there.https://t.co/BhDDqFWF6H MATIC will bounce back stronger than ever! — Matic (@maticnetwork) December 10, 2019 The tweet that sparked the panic claimed that the large amount of the project’s tokens were intended for dumping on Binance. Just did some snooping around to find that the #Matic Network Foundation has transferred 1,495,322,715 $MATIC (15% of the supply, approximately $67,314,942 at ATH) in the past 50 days, of which from seems to have been sent for liquidation at #Binance. https://t.co/FLPl4HyfiO pic.twitter.com/dpYG8rMoHX — Samuel JJ Gosling (@xGozzy) December 10, 2019 But the claims were refuted by the fast investigation performed at the Binance exchange. Binance’s CEO, Changpeng Zhao, commented that the real reason may be anonymous traders panicking. Our team is still investigating the data, but it's already clear that the MATIC team has nothing to do with it. A number of big traders panicked, causing a cycle. Going to be a tough call on how much an exchange should interfere with people's trading. https://t.co/wOVF6tEBkQ — CZ Binance (@cz_binance) December 10, 2019 MATIC Followed Natural Trading Patterns Binance has seen its share of boom-and-bust cycles for several coins, as well as trading anomalies. But MATIC is a special case, as it is one of the high-profile IEO tokens offered on the exchange. The token was also among the best performers, appreciating to above its token sale price. Zhao dismissed the latest sell-off as originating from FUD, but also raised the question on whether exchanges should interfere with trading. MATIC is represented on both Binance DEX and Binance, with the bulk of volumes on the centralized exchange. However, MATIC has recovered some of the losses, as the deepest end of the drop at one point wiped out 72% from peak prices. MATIC is still above the flat prices in the past few months. The fears that the Matic project was performing an exit scam were dismissed, but the token performance sparked the rage of traders. But for others, the MATIC performance was normal for inherently volatile altcoins and tokens, which offer a mix of rapid appreciation and risk. What do you think about the MATIC pump and crash? Share your thoughts in the comments section below! Images via Shutterstock, Twitter @cz_binance @Maticnetwork @xGozzy The post Matic Network (MATIC) Team Explains Sudden Token Flash Crash appeared first on Bitcoinist.com.
Bitcoinist

LedgerX Places Founders On Leave Following Public CFTC Woes

LedgerX Places Founders On Leave Following Public CFTC Woes The board of directors of Ledger Holdings, Inc., parent company to LedgerX, announced that co-founders Paul and Juthica Chou have been placed on administrative leave, effective immediately. In a Dec. 9 press release, the Bitcoin (BTC) derivatives exchange LedgerX explained that the two executives will be […] Cet article LedgerX Places Founders On Leave Following Public CFTC Woes est apparu en premier sur Bitcoin Central.
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