First Forward Split Token in Crypto History | Bitmarket Shutsdown Leaves w/ $16 Mln

First Forward Split Token in Crypto History | Bitmarket Shutsdown Leaves w/ $16 Mln



yeah she put crypto blood welcome to another episode of my 2 Satoshi's it is July 9th 2019 shout out to my man UK Raja for this song requests Aston Martin music by Rick Ross definitely a classic Chrisette Michelle on that joint a definite classic in my book so thanks UK Ranjha for the song request for today was good people hope you guys doing well today and welcome to another episode today we are going to be looking at the first ever forward split in cryptocurrency history never heard of this company have you Maya preferred to 23 never heard of this company but we'll get into the details they're going to be splitting forward meaning you get more tokens after the split interesting interesting situation here and Kryptos with this one so I wanted to cover it nothing major but just a milestone something certainly never done before in the crypto game so I wanted to cover this one out of coin speaker also the nya G that's the Attorney General's office in New York says that BitFenix and tether served New York residents longer than they claim Wow is that all you guys got is that all you guys got let's see we're gonna take a look at this one though and see what they have to say about that remember they had until I think a few days ago to file a motion or respond to their claims and I guess this is what they responded with maybe the article here talks further about what's going on in their claims with the NY AG against BitFenix or iPhone X the parent company of Biff and X and tether we'll take a look at that as well and also lastly out of the Bitcoin is we've got 16 million dollars worth of Bitcoin missing as exchange quits I don't know if you guys heard about this the other day but bit market just shut down on Monday and ran off on the plug twice we're take a look at that man these exchanges people you have to be very careful with them we'll see what the skinny is on this situation here but first got to give a shout out first to some my channel sponsors moon Lambo and also smartcash CC and I've actually got a new patron and that is crypto comm they're showing crypto Bloods channels some love check those guys out you guys probably remember them as monarch the crypto debit card well they bought crypto comm last year actually covered this last year – ironically enough but they're showing me some love so I'm showing them something back I actually ordered a card from them a metal card it should be coming in soon because they now offer these services to u.s. citizens so that was great so check those guys out crypto comm very hard to forget that one but they've got some special offers for you if you do order one of their cards so I'll be telling you guys about some of their promotions in the next month or so so check those guys out cool let's go ahead and take a look at the heat map for today guys we got Bitcoin up 2.4% it almost touched 13,000 a few hours ago crazy where it looks like we're starting to heat back up with Bitcoin the alts not so much not so much Bitcoin is King right now alts are looking primarily red at the moment B & B is even cooling off a little bit down two and a half percent litecoin down 1.6% to 118 bucks and aetherium is down 0.87 percent to three hundred and seven dollars and 42 cents heels down also a third of a percent but if we look at my technical analysis look at that following that line perfectly the d-wave we we definitely eclipse this section I told you about which was twelve thousand four hundred area twelve thousand four hundred and sixty seven to be exact so I think at this point you know twelve thousand should be a floor in that region somewhere around there should be a floor now for us guys and I'm still looking at this point the wave is still in play the D wave which will take out fourteen thousand so we just got to kind of wait for that and looking good here though looking very good so I'll keep an eye out on this for you guys so let's go ahead and take a look at that first article out of Coyne speaker and it is about Maya preferred 22/3 not sure what this company is and what their cryptocurrency is but they are going to be the first ones who ever do a forward split in the cryptocurrency game it says the for split is traditionally when a stock splits and shareholders end up holding more after the split then they held before this crypto incarnation of a forward split we'll see each Maya holder receive 100 ma PRS after the split for every one MapR they have anyone who owns Maya preferred 20 to 3 at the close of business on August 15th 2019 will qualify for their share of the forest split tokens while holders will be given 100 free ma PRS the price of the coin will accordingly be reduced by a hundred times at the close of business on August 15th this move will make price of Maya preferred more affordable to investors the split will happen like this if Maya preferred closes at $25,000 on August 25th the next day on August 16th Maya preferred will open at two hundred and fifty dollars per coin all coin holders will receive 100 tokens for each individual coin they own partial tokens are qualified so the dollar value of their holdings is exactly the same so on August 16th UK financial Ltd will freeze the price of Maya preferred two to three at whatever the post-split price is on all the markets it trades on and that's fat BTC and cat6 and perform a 1 million token buyback opportunity open to the general public at that frozen price for 60 days these 1 million tokens represents approximately the total number of MapR tokens that are available to the public my preferred 22 is a stable coin that is backed by $34,000 per token in gold and silver from 11 gold and silver mines Mexico the forward split will not affect the way the coin works currency will have the same amount of assets backing it after the split but the ratio of the backing to each coin will be adjusted to reflect the hundred time price reduction so what do you guys think about this because it shows me that the company is trying to show or attract more demand for their token from simply a speculative aspect meaning they're looking solely at the price I know it sounds more attractive but you know with tokens you know there's they're more fungible or I should say more divisible then a stock is so I can buy 50 cents worth of their Maya preferred two to three tokens it doesn't matter so really what are they trying to cover up or or do here from a PR perspective if this was something a product that the market wants it then I believe personally they are going to buy it at whatever price it doesn't matter the price really when it comes to tokens again they're divisible down to a Satoshi so I don't know guys but let me know if you have heard of Maya prefer two to three I've never heard of them but evidently a precious metal token I'm not too much of a big fan of those precious metal tokens either because in my opinion pretty much defeats the purpose of a cryptocurrency Kryptos are to be mathematically proven and the value is in the mathematics not in trying to back that token with a physical asset it just doesn't make any sense in my opinion but again let me know if you guys have heard of this and thought this was interesting first forward split in cryptocurrency history so let's see what the NY AG has come up with with this whole I finex Biff next case that's going on in New York it says that they found that Biff next slash tether we're serving New York residents longer than they claim so says the New York Attorney General Office has submitted new evidence in its aim to prove that crypto exchange and tether has served New York customers longer than they claim it's part of their NY it's part of the NY AG's ongoing investigation into BitFenix and tether the NY AG filed a memorandum of law in opposition as well as a total of 28 pieces of exhibits on July 8th with the New York Supreme Court the NY AG said in these new documents that even a cursory examination of the facts gathered to date in the O in the O AG's investigation shows that respondents have extensive and consistent contacts to New York concerning the matter under investigation the filings come with various exhibits to showcase biffing x's and tethers interactions with my residents over a period that was longer than the two previously claimed coin des reported and made that bid for Nexen tether argued with the judge in the New York Supreme Court that the case should be dismissed since they have nothing to do with New York investors and the businesses do not allow New Yorkers on their platforms and do not advise or otherwise do business here however the NY AG indicated that based on the series of evidence gathered and provided in court Biff and X had customers log in to its platform as recently as December 18 2018 further exhibit s through H also showed the correspondence between BitFenix and billionaire hedge fund manager Michael no regrets galaxy digital to onboard the ladder as Biff and X customers in October of 2018 in addition New York AG provided exhibits to show that BitFenix held accounts with two New York banks signature bank and noble bank and at least one other new york-based financial institution during the relevant time period which they use to transfer money to and from clients of the BitFenix and tether platforms in yeg added as well that respondents have repeatedly engaged with New York firms to assist them in their business objectives including to make statements to the markets about the operation of BitFenix trading platform and the cash backing of tethers and also as recently as 2019 respondents open a trading account with at least one new based virtual currency firm to me I'm just skimming through this this looks like a bunch of bull I mean as far as it may be true but that's not anything what are you gonna slap them with a fine this doesn't prove that anything more then okay they dealt with some my residents all they're gonna do is get a slap on a fine on in a slap on the wrist and you know they can continue to move on and conduct business outside of the United States or at least in New York so what do you guys think what does this tell you I was expecting them to come with something more than this but it doesn't look like they have so as I reported last week I Phenix has paid back I think a hundred million dollars of the 700 million they borrow from tether it paid it back early as well so they they're on track I don't there's no insolvency issues with Biff and X in my opinion just a bunch of foot that's not that's real foot you know people throw that word around very loosely nowadays in the crypto space but Biff and X is good they raise over a billion dollars in their I owe and they're paying back tether sooner than expected so again let me know your thoughts about this case with the New York Attorney General's Office and tether last article out of the Bitcoin is 16 million dollars worth of Bitcoin missing as exchange quits business interesting Poland base Bitcoin exchange has abruptly shut down operations taking away the cryptocurrency funds of thousands of users alongside bit market announced on Monday that it ran out of liquidity on July 8th which prompted them to cease their operations for an indefinite period the exchange also said it would update users with more updates oh so you're going to update me with update insane data provided by coin market Capcom updated 17 hours ago show volume of close to 850,000 compared to other exchanges the statistics appeared weaker validating that bit market was any liquidity crisis nevertheless the exchange left no clues about how it would go head with fun with the drawers scared users shared their grievances on social media platforms with one of them noting a string of red flags redditor auto banks claims a bit market was acting shady before making its announcement the exchange allegedly asked users to change their passwords without providing any explanation it later revises users API profiles in a separate instance big market also halted the withdraw process of many users and then demanding additional kyc auto banks wrote exchange representatives active on Polish Bitcoin forum claimed that this was the long overdue kyc requirement and that they were only targeting people with expire IDs they never addressed users acquisitions of hiding the fact that the exchange has been hacked bit market currently holds approximately 13,000 Bitcoin units in its wallet which is equivalent to about 16 million users under the stress of losing their hard-earned money have already formed a Facebook group they are planning to file a class-action lawsuit against bit market founders and other top executives it goes on to say here that just as big Couric's was not able to recover funds of customers it will probably be the case with bit market as well the situation has left users with only one hole that bit market would show up with a plan to reimburse their funds while many don't believe it would happen there's still a lot to learn about trusting exchanges with Xero prior credibility's and it's not even in my opinion about trusting exchanges with Xero prior credibility's because even credible ones get hacked it is not something that in many cases they are trying to do themselves or anything nefarious on their in is literally attack vectors on all of these exchanges 24/7 seven days a week so buying ants is a credible one and you see what happened with them though they were able to you know reimburse because they had a fun that was you know for this type of event but still credible exchanges get hacked – so don't think that that will save you guys only keep what's on the exchange you need for trading and once you trade those coins take those things off that's my advice to all of you guys do not keep your coins on any exchange long period but again that's pretty much it for today thank you for joining me on this episode of my to satoshis shout out to my man UK Ranjha again for that song request Rick Ross Aston Martin music make sure you guys like share and subscribe click that bill that helps this channel grow people again that's my to satoshis for July 9th 2019 I'm out of here people how

Author:

12 thoughts on “First Forward Split Token in Crypto History | Bitmarket Shutsdown Leaves w/ $16 Mln”

Leave a Reply

Your email address will not be published. Required fields are marked *