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SIMON Leverages Digital Experience and Network Reach to Design Cryptocurrency Educational Platform for Wealth Managers

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NEW YORK–(BUSINESS WIRE) – SIMON Markets LLC (“SIMON”) announced today that it will integrate cryptocurrency education into its leading fintech platform for wealth managers to deliver what businesses and their finance professionals have demanded in a rapidly growing market. With an innovative, scalable approach to industry-wide challenges, SIMON looks forward to improving transparency in crypto financing as well as structured investments and pensions – by initially focusing on education, which will pave the way for market access and new products arriving.

SIMON is a financial technology platform that offers more than 85,000 finance professionals in more than 50 sales networks training, analysis, product selection and life cycle management for risk management products – including structured investments, annuities and ETFs with defined results. While interest in crypto has risen sharply over the past year, the expanding market remains a challenge for professionals to navigate. SIMON’s focus on building a new educational experience for digital assets will meet the growing demand for optimized, accessible education via SIMON’s secure and trustworthy platform, promote a clearer understanding of the crypto market and accelerate SIMON’s ability to achieve a new level of acceptance all in one fast growing affluent sector push ahead administration.

“SIMON is known for the training and certification solutions that we have developed for other asset classes and that are used by more than 50 sales networks to facilitate access from professionals to professionals,” commented Jillian Altamura, Head of Growth at SIMON. “We have made many inquiries to equip our platform with comprehensive curricula for blockchain and cryptocurrency. This is a step in ensuring that the mechanism for doing this is already in place when the companies we serve are ready to make these products available within the ecosystem they are already using. In addition, financial professionals are supported by a powerful solution that gives them the confidence to navigate digital asset investment decisions. ”

Joseph Giordano, SIMON’s Chief Business Development Officer, added, “The evolution of the use of crypto today is two steps ahead of the wealth management industry. We are experiencing a turning point in the adoption of digital assets, and education is a strong, if not the most powerful, entry point. They have been waiting for the expertise and unified experience that SIMON can offer finance professionals – invaluable resources at their disposal and the award-winning support they expect from SIMON in exploring an expanding market. ”

About SIMON

SIMON is an award-winning fintech company dedicated to transforming the digital experience for finance professionals so they can better serve their customers. SIMON’s intelligent and innovative platform provides more than 85,000 finance professionals with assets of more than $ 3 trillion a comprehensive suite of digital tools that they can use with on-demand training, an intuitive marketplace, real-time analytics and lifecycle management. With a focus on redesigning the consultancy experience, SIMON is setting new industry standards, simplifying the complex and offering investment professionals structured investment, pension and ETF solutions with defined results that are centralized in a single ecosystem.

Originally founded at Goldman Sachs, SIMON was founded in 2018 as an independently operating company under the joint ownership and management of seven leading financial institutions – Barclays, Credit Suisse, Goldman Sachs, HSBC, JP Morgan, Prudential and Wells Fargo. The company is headquartered in New York, NY, with an additional location in Birmingham, AL.

You can find more information about SIMON at www.simon.io. Follow the company on Instagram, LinkedIn and Twitter. Securities products and services from SIMON Markets LLC, a broker-dealer registered with the SEC, member of FINRA / SIPC. Annuities and insurance services from SIMON Annuities and Insurance Services LLC.

Cryptocurrency

bitcoin price: Top cryptocurrency prices today: Bitcoin, Polkadot, Ethereum surge up to 16%

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NEW DELHI: Major cryptocurrencies traded higher on Tuesday after investor confidence was boosted by Tesla CEO Elon Musk’s tweet over the weekend. Led by Bitcoin and Polkadot, all of the top 10 digital tokens saw an increase of up to 16 percent.

After another weekend of wild price swings, the crypto market got its mojo back after Musk pared criticism of its market influence, saying Tesla had sold Bitcoin but may have resumed transactions with it. Investors eagerly await Tesla’s next earnings update – due next month – for any disclosure of changes in its position.

The crypto market rose sharply as Tesla announced purchases in digital Numero Uno tokens, while the virtual currency market collapsed

to use. Tesla’s U-turn on cryptos wasn’t the only trigger, however. Around the same time, the Chinese government took action against institutions dealing with cryptocurrencies.

“Bitcoin is the market leader and the dominant asset. It has managed to keep the crypto community, financial institutions and banks interested in the asset as the volume has held the position and has not decreased much. This is the result of banks, MNCs and, in some cases, even governments seeing the potential of the asset, “ZebPay told Trade Desk.

“A highly anticipated event, the Ethereum Protocol Upgrade Proposal (EIP-1559), which promises us to provide an improved transaction process and streamline the user’s experience by reducing transaction costs and making the determination of fees much easier and simpler Being made less stressful and wasteful is also due very soon, “she added.

“We can see a consolidation in the markets. Trading volumes remained low. This consolidation was well anticipated and could continue for the whole month. The sell-off had very little trading volume, which is a positive sign for the crypto market, ”said Edul Patel. CEO and co-founder of Mudrex.

Crypto shopping cart: Quick Glance (Source: coinmarketcap.com, data as of 9.30 a.m., ACTUAL on June 15, 2021)

  • Bitcoin: $ 40,518.56, up 4.32 percent
  • Ethereum: $ 2,595.23, up 4.82 percent
  • Tether: $ 1.00, up 0.07 percent
  • Binance Coin: $ 373.65, up 4.22 percent
  • Cardano: $ 1.58, up 2.54 percent
  • Dogecoin: $ 0.33, up 1.74 percent
  • XRP: $ 0.89, up 2.16 percent
  • Polkadot: $ 25.26, up 16.785 percent
  • USD coin: $ 1, up 0.04 percent
  • HEX: $ 0.092, up 6.09 percent

Note: price change in the last 24 hours

Tech View of Giottus Cryptocurrency Exchange


Cardano (ADA)


Everyone is talking about Cardano at crypto town and has gained incredible amounts after one of the founders discussed its roadmap through 2025. Cardano will grow into one of the most sophisticated ecosystems in the crypto space in the coming years. This news is very bullish for Cardano and the market has reflected it on its charts.

ETMarkets.com

Cardano recently broke trendline resistance of a falling wedge pattern. It is expected to test the trendline resistance of a huge ascending channel, a short-term bullish pattern. ADA remains bullish and will remain so until it is on the channel. Once broken down, it can hit multiple lows. But when ADA breaks and exceeds $ 2.45, new highs can be formed.

All of these moves remain dependent on the movement of Bitcoin, which broke out of its downtrendline this week and appears to be targeting $ 43,000 as the next resistance.

Main stages

Support: $ 1.25, $ 1.16, $ 0.96

Resistance: $ 1.87, $ 2.0, $ 2.45

Binance Coin (BNB)

Binance Coin (BNB) has risen parabolically since late 2020 and recorded a more than 60 percent correction after the crypto crash in May 2021. It is the native coin of the Binance exchange.

BNB is currently forming a rising wedge that can still grow until the first week of July. It will be interesting to see how BNB performs as it broke a large technical and psychological resistance ($ 350) and is being tested

100 (100 day exponential moving average). Breaking the EMA 200 and the trend line resistance of the rising wedge will be extremely bullish for the NBB.
Giottus_BNB_analysisETMarkets.com

Since the ascending wedge is inherently bearish, we cannot rule out the possibility of a bearish reversal. But it will likely bounce off the first ($ 350) or second ($ 275) big support after collapsing. Failure to bounce back from the second big support, the NBB could fall to the USD 210 level.

Main stages

Support: $ 305, $ 290, $ 275

Resistance: $ 410, $ 430, $ 475

The time is in UTC and the daily time frame is 12:00 PM – 12:00 PM UTC

(The views and recommendations in this section are the analysts’ own views and recommendations and do not reflect those of ETMarkets.com. Please consult your financial advisor prior to entering into any position in any of the above assets.)

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‘Banks should be scared’ of cryptocurrency-based DeFi

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Billionaire investor Mark Cuban is very optimistic about the future of DeFi or decentralized finance and DAOs or decentralized autonomous organizations.

“There are many financial institutions that should be concerned,” Cuban wrote in a blog post on Sunday. For one thing, “banks should be afraid,” he wrote.

DeFi applications aim to emulate traditional financial systems with cryptocurrency, while DAOs can control and monitor DeFi applications and other projects.

DAOs are similar to traditional companies or organizations, instead control is democratized within DAOs. Instead of having a centralized leader, DAOs have members who vote on decisions and rules, which are then coded into smart contracts on the blockchain.

For example, DeFi loans allow users to lend cryptocurrencies like a traditional bank does with fiat currency and earn interest as a lender. DeFi loan applications like Aave, Compound and Maker are regulated by DAOs.

The structure of these decentralized protocols is one of the things that piqued Kuban’s interest and made him think that DeFi could be a serious competitor to traditional banks.

He uses Aave as an example to explain why. (A Shark Tank star and owner of the NBA’s Dallas Mavericks, Cuba invested in Aave, which he announced during a Reddit “Ask Me Anything” in February.)

“Aave looks like a bank like its competitor Compound. But it’s not. Nowhere around,” said Cuban. “Aave is a fully automated, permissionless platform with no bankers, no buildings, no toasters, no safes, no cash, no money custody, no forms to fill out, no credit ratings.”

“Everything is controlled by smart contracts. It’s fully automated. You don’t have to get approval from anyone and it takes minutes to get a loan.”

This, of course, is part of what makes DeFi so risky. Unlike a traditional bank, there is no regulation or insurance for your money when you use DeFi. Although DeFi loans are collateralized with other crypto assets, borrowers who use DeFi protocols cannot otherwise be held responsible if they cannot effectively repay a loan.

“The old crypto adage ‘don’t put in more than you can afford to lose’ applies twice to DeFi,” reported CoinDesk. “This stuff is overly complex and a lot can go wrong.”

DeFi-related hacks stole $ 156 million between January and April, according to CipherTrace.

Another feature that draws Cubans to DeFi exchanges is the fact that they don’t necessarily have to raise a lot of capital to scale, he says. “Rather than the company’s owners, investors and their creditors raising capital for all transactions that take place, the liquidity providers (LPs) do it for them,” he wrote.

Liquidity providers are users who fund pools that enable DeFi loans or loans, among other things.

For Cuban, this makes automated financial markets like DeFi “so much more capital and operational than comparable traditional companies”.

Cuban acknowledges the risks and admits that with all of this technology there are technical details to be clarified, but still says that “this approach is the future of private banking”.

And despite the risks, DeFi has been particularly buoyant lately. DeFi Pulse currently has more than $ 60 billion locked in DeFi logs, according to DeFi Pulse.

Cuban is a liquidity provider for a decentralized exchange, he wrote in his blog post. He is also invested in a number of companies in the crypto space, including DeFi companies, and has a portfolio of multiple cryptocurrencies, including Bitcoin and Ethereum.

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Do not miss: This is the fintech that Mark Cuban says you should get to know now

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Nvidia CEO Jensen Huang talked about the value of ethereum, advances in crypto mining and the global semiconductor shortage in a recent interview. Here are the 10 best quotes. | Currency News | Financial and Business News

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Nvidia boss Jensen Huang

  • Nvidia CEO Jensen Huang spoke to a group of journalists at the Computex IT conference.
  • He said Ethereum will be valuable in areas like DeFi because of its scalability and credibility.
  • He also spoke about Nvidia’s role in the future of crypto mining, saying he believes a metaverse is imminent.
  • Check out Insider’s business page for more stories.

Jensen Huang, CEO of chip and graphics card maker Nvidia, recently spoke to a group of journalists at the Computex IT fair about his views on the value of Ethereum, how Nvidia’s products fit into the crypto ecosystem, and why he thinks we are at the There is a threshold to create a metaverse in an interview published by VentureBeat.

Nvidia’s graphics processors are top of the range graphics cards that also have crypto mining capabilities. Huang, a big proponent of artificial intelligence, introduced a lower-resolution graphics card at the conference that was specifically designed for crypto mining. He also addressed the global chip shortage, Nvidia’s role in it and whether he believes the Chinese government will intervene in the development of artificial intelligence.

Here are the ten best quotes from Huang from the interview, which have been slightly edited and condensed for clarity.

  1. “Am I looking forward to the Proof of Stake? The answer is yes … Ethereum has established itself. It now has the opportunity to implement a second generation that will continue the platform approach and all services based on it. It is legitimate. It is Established. There’s a lot of credibility. It works well. Lots of people rely on it for DeFi and other things. This is a great time to prove its worth. ” – about the opportunities that Ethereum offers and the value of the network for blockchain and crypto.
  2. “We purposely reduced the performance of our GPU so that when you want to buy a GPU for gaming you can do so. If you want to buy a GPU for crypto mining you can either buy the CMP version or if you would like to use the GeForce for that, unfortunately the performance will be reduced “- how Nvidia tries to lower the prices of graphics cards and why they developed CMP.
  3. “We’ll just continue to work with our supply chain to keep them informed of the changing world of IT so they are better prepared for future demand. But I believe that the areas we are in, the markets we are in, because we have very specific reasons, will be in great demand for some time “- to deal with the ongoing global shortage of semiconductors.
  4. “It is now clear that Ethereum will be very valuable. There is a future in which these transactions can be processed much faster, and with so many people building on it now, Ethereum will be valuable.” – on the prospects for the Ethereum network due to its scalability.
  5. “I think we’re about to do it. […] There will be many types of metaverse, and video games are one of them. […] We’re going to see this overlay, a metaverse overlay, if you will, into our physical world. “- about when and how a metaverse becomes real.
  6. “You need this blockchain to have fundamental value, and that fundamental value could be mined. Cryptocurrency is here to stay to stay. Ethereum might not be as hot as it is now. It could cool down a bit in a year. But I think crypto mining is here to stay “- on the future of crypto mining and blockchain networks.
  7. “I believe there will be a bigger market, a bigger industry, more designers and creators designing digital things in virtual reality and metaverse than designing things in the physical world. […] The economy in the metaverse, the economy of the omniverse, will be larger than the economy in the physical world. Digital currency, cryptocurrency, could be used in the world of Metaverse “- about his vision for the omniverse that Nvidia is developing.
  8. “I have a feeling that we are welcome in China and will continue to work hard to deserve to be welcomed in China and in every other country.” – Whether the Chinese government will intervene and regulate Nvidia’s work on artificial intelligence.
  9. “One of the most important technologies that we need to develop, for several of them – in the case of the consumer, one of the most important technologies is AR, and it is coming.” – for the development and accessibility of augmented reality.
  10. “This is the biggest market opportunity the IT industry has ever seen. I can understand why it inspires so many competitors. We just have to keep doing our best and act as quickly as possible. ”- on the future of the graphics processing industry and its competition.
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