Find out more about “NFT: From Zero to Hero” from Anndy Lian on XRdoge TV

Find out more about “NFT: From Zero to Hero” from Anndy Lian on XRdoge TV

Anndy Lian, book author of NFT: From Zero to Hero shares about his book on XRdoge TV.

Anndy’s book was sold out on 15 August 2022 on Bybit NFT Marketplace. 8000+ copies were sold so far. The book talks about his views on NFT, Web 3.0 and beyond.

The book’s foreword is written by Ben Zhou, CEO and Co Founder of Bybit and also Jay Hao, CEO of OKX. Many other crypto experts have also penned down their words in the book too.

He wants to share the book with people who are both curious about the world and has read many news articles about NFTs. However, I guess these articles were not able to answer all your questions, and you want to know how best to start your NFT journey.

– Why would someone be willing to pay millions of dollars for a PFP (profile picture)? What’s the value behind it?

– Many actors and singers have also released their own NFTs. However, the price quickly dropped by half after their launch. What’s going on?

– Nike, Adidas, Gucci, Hermès— it seems that big companies globally are entering the NFT market but how do we differentiate those seriously deploying from those just trying to take a cut from the hype?

– According to statistics, in the first quarter of 2022, the transaction volume of NFTs reached $26 billion, exceeding the whole of 2021. However, another set of data tells you that the NFT market is down by 92%. Who should we trust? Is NFT the future, or is it just a bubble?

We can see that the NFT market is on fire, but it also comes with a lot of chaos. This is the task I want to accomplish in this book: I will help you to discover the essence of NFTs below the surface of hype and chaos, as well as teach you how to master NFT step by step.

Start from Zero to become an NFT Hero with my book. Let’s dive into the NFT world together!

The book “NFT: From Zero to Hero” is available on Bybit, Amazon Books and Google Books at the current point.

Find out more at the following links too:

Ebook and paperback: https://amazon.com/Anndy-Lian/e/B0BCK7W9BK

Ebook: https://books.google.com.sg/books?id=OSqFEAAAQBAJ&pg

NFT Book: https://bybit.com/en-US/nft/collection/detail?code=1006691081657516032
(You can get more gifts here and surprises here. Sign up at https://partner.bybit.com/b/zerotohero)

Do a review: https://www.goodreads.com/author/show/20740366.Anndy_Lian

 

Anndy Lian is an early blockchain adopter and experienced serial entrepreneur who is known for his work in the government sector. He is a best selling book author “Blockchain Revolution 2030”.

Currently, he is appointed as the Chief Digital Advisor at Mongolia Productivity Organization, championing national digitization. Prior to his current appointments, he was the Chairman of BigONE Exchange, a global top 30 ranked crypto spot exchange and was also the Advisory Board Member for Hyundai DAC, the blockchain arm of South Korea’s largest car manufacturer Hyundai Motor Group. Lian played a pivotal role as the Blockchain Advisor for Asian Productivity Organisation (APO), an intergovernmental organization committed to improving productivity in the Asia-Pacific region.

An avid supporter of incubating start-ups, Anndy has also been a private investor for the past eight years. With a growth investment mindset, Anndy strategically demonstrates this in the companies he chooses to be involved with. He believes that what he is doing through blockchain technology currently will revolutionise and redefine traditional businesses. He also believes that the blockchain industry has to be “redecentralised”.

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Where Can You Find the Best Crypto ETFs?

Where Can You Find the Best Crypto ETFs?

Crypto ETFs captured the attention of the crypto investors late last year when the first Bitcoin ETF in the US, the ProShares Bitcoin Strategy ETF (BITO) was listed on the New York Stock exchange.  It also made crypto investing accessible to the wider investment world, after years of attempts to launch one. The ETF was designed to appeal to investors comfortable with the traditional investment world of stocks and ETFs, but who perhaps didn’t fancy the learning curve of creating their own crypto account and wallet. Nevertheless, the launch was welcomed by many as a radical step forward allowing crypto and NFTs as an alternative investment, to diversify portfolios to withstand future economic changes, as well as widening public understanding of the value of crypto.

ETF, which stands for Exchange Traded Fund, traditionally a mutual fund that is traded on a stock exchange, is typically consists of three components: an index, a stock type, and a fund. In other words, an ETF is essentially a fund that tracks an index while also being bought and sold in the stock market. To put it simply, “An exchange traded fund (ETF) is a basket of securities that trade on an exchange just like a stock does,” according to Investopedia. As a result of their makeup, the key advantage of ETFs is their ability to diversify risks. For example, if there are 100 different stocks in an ETF then they all cannot drop in price together. As a result, the investment portfolio established by this ETF will not suffer a significant drop either.

As well as ProShare’s BITO, there are several similar products which all have one thing in common, they are in the main issued by traditional financial institutions. The practical implication for interested crypto investors is that their categories are however fairly limited to include BTC, ETH and a few ETH products. Despite these drawbacks the struggle to launch further ETFs has continued, despite a reluctant SEC. At the end of January Fidelity tried to get a Bitcoin ETF passed (the so-called “Wise Origin Bitcoin Trust”) only to see it rejected, only to follow up the next day with the Fidelity Crypto Industry and Digital Payments ETF and the Fidelity Metaverse ETF. A key difference that inspired the SEC ban was that the Fidelity Bitcoin ETF was designed to directly hold the cryptocurrency, unlike other BTC ETFs approved by the SEC which solely deal with Bitcoin futures. In other words, buying the BITO ETF doesn’t mean you own BTC, rather that ProShares invests in Bitcoin futures contracts on the Chicago Mercantile Exchange (CME). As confirmed in a report in Fortune: “Rejecting Fidelity’s proposal is just the latest disappointment for investors that had hoped 2022 could be the year where an ETF directly tied to the price of Bitcoin would make it to market in the U.S.”

Outside the US comes more promising news of crypto-related ETFs with the launch this month in Brazil of the world’s first fund dedicated to DeFi, called the Hashdex DeFi Index (DEFI11). “We are confident that DeFi, through its innovative and disruptive technology, will exponentially grow and play a vital role in the financial sector of the future. By offering the first DeFi ETF in the world, we are providing our global investors with the ability to play a part in the next evolution of the crypto ecosystem,” said Marcelo Sampaio, CEO of Hashdex. According to a FT report the ETF will invest in eight DApps, including Uniswap; lender Aave; Polygon, a service designed to speed up transactions on blockchains which recently raised $450 million in a new venture financing round; and oracle innovator Chainlink. It’s also worth noting that as these DApps have smaller market capitalizations than BTC and ETH the tokens may be even more volatile. Cryptocurrency advisor Michele Zilocchi explained: “ETFs are not cryptocurrencies and so they do not give you the ownership, but they allow you to replicate trends. BITO and Hashdex represent a great innovation and a helping hand to institutional investors that were afraid of actual cryptocurrencies ownership. I think that these ETFs represent the doorway for institutional investors to the crypto-space.”

On the regulatory front the launch highlights a divide between global financial centers that have thus far permitted little innovation in the growing field of digital assets, and relatively more laissez-faire financial hubs. “While Canada, Sweden, Germany, Switzerland, Jersey and Liechtenstein all boast spot cryptocurrency ETPs (exchange-traded products), and Australia and India are poised to join them, US regulators have only approved futures-based versions, while those in the UK, Hong Kong and Singapore have not even permitted these vehicles,” the FT report pointed out. Barrister Brian Sanya Mondoh and The Cake advisor, said that when rejecting ETFs, the SEC applies Section 6(b)(5) of the Exchange Act, which requires, in part, that the rules of a national securities exchange be “designed to prevent fraudulent and manipulative acts and practices [and] to protect investors and the public interest.” However, Mondoh agreed that the lack of uniformity in applying this legal test has resulted in impeding investor choice and stifles innovation. “With an increased appetite for Bitcoin and other cryptocurrencies, investors often bypass the law to access crypto markets. Rather than expose investors to bad actors, ETFs should be allowed to ensure more robust protections for investors and more effective surveillance for market manipulation and other fraudulent activity.”

What hasn’t been reported widely is the comparative success of leveraged ETFs launched by cryptocurrency exchanges themselves including BigONE. What they lack in trading volume enjoyed by traditional financial institutions they more than make up for in the advantages offered to the savvy investor. For starters, users do not need to pay the collateral assets to achieve the effect of leveraged trading on the target asset. The product has no expiration date, no risk of liquidation, but it contains the risk that the net value might close to zero. In addition, the ETF products available on cryptocurrency exchanges cover a far wider range of cryptos categories within the ETFs than traditional financial institutions offer. And because their market cap is lower, compared to the likes of BTC and ETH, the impact of the smaller crypto ETF’s upward price movements results in bigger gains.

A leveraged ETF typically uses financial derivatives and debt to scale up the returns of an underlying index. While a traditional ETF typically tracks the securities in its underlying index on a one-to-one basis, a leveraged ETF may aim for a 2:1 or 3:1 ratio, according to Investopedia. For example, for every 1% increase in BTC, BTC3L (three times long BTC) increases 3%, and BTC3S (three times short BTC) decreases 3%. In other words, compared with spot trading, the same asset leveraged ETF will generate three times the profit. On BigONE Exchange this means if you purchase one asset of BTC3L and achieve three times profitability in a unilateral rise, all of this is also managed by platform fund managers, which crucially means users can easily build their own leveraged investment portfolio without knowing the specific mechanism. Plus, he/she does not need to borrow money or pay for the secured assets to achieve their goal.

Thanks to the unique rebalancing mechanism of BigONE’s leveraged ETF product, when the ETF is profitable, it will automatically increase the position after the adjustment. While in the event of a loss, the position will be automatically reduced after the adjustment to avoid the risk of being liquidated. The mechanism is designed to automatically adjust the position of the contract behind each product, and the number of currency holdings will not change. Which in simple terms means while the ETF price remains stable, the level of profitability is also greater.

“What we are seeing is the maturation of the crypto ETF market with the launch of the Hashdex DeFi Index, the world’s first fund dedicated to DeFi. While the US is lagging with the SEC looking for further regulation before committing to a spot crypto ETF, I see the real innovation coming from crypto exchanges like BigONE,” said BigONE Chairman Anndy Lian. “But clearly following the BITO ETF and news of Australia’s corporate regulator giving the green light to a range of cryptocurrency-related ETFs, which could see Bitcoin and Ethereum-backed investment funds trading on the ASX in the coming months, the potential for the global crypto ETF market is huge,” he added.

 

Original Source: https://www.timebulletin.com/where-can-you-find-the-best-crypto-etfs/

Anndy Lian is an early blockchain adopter and experienced serial entrepreneur who is known for his work in the government sector. He is a best selling book author “Blockchain Revolution 2030”.

Currently, he is appointed as the Chief Digital Advisor at Mongolia Productivity Organization, championing national digitization. Prior to his current appointments, he was the Chairman of BigONE Exchange, a global top 30 ranked crypto spot exchange and was also the Advisory Board Member for Hyundai DAC, the blockchain arm of South Korea’s largest car manufacturer Hyundai Motor Group. Lian played a pivotal role as the Blockchain Advisor for Asian Productivity Organisation (APO), an intergovernmental organization committed to improving productivity in the Asia-Pacific region.

An avid supporter of incubating start-ups, Anndy has also been a private investor for the past eight years. With a growth investment mindset, Anndy strategically demonstrates this in the companies he chooses to be involved with. He believes that what he is doing through blockchain technology currently will revolutionise and redefine traditional businesses. He also believes that the blockchain industry has to be “redecentralised”.

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Crypto entrepreneurs find Singapore is not so hospitable after all

Crypto entrepreneurs find Singapore is not so hospitable after all

Scores of businesses fail to win licenses from city-state’s financial regulator

SINGAPORE — Cryptocurrency entrepreneurs lured to Singapore by its apparent openness to the burgeoning industry are discovering just how difficult it is to legally operate in the city-state.

More than 100 of the around 170 businesses that applied for licenses to offer “digital payment token services” have now been turned down or withdrawn their applications, according to the latest figures from regulators.

And scores more face an uncertain future, operating under exemptions but amid a darkening mood over the approval process.

In early September, the Monetary Authority of Singapore (MAS) ordered Binance, one of the world’s largest crypto exchanges, to stop providing services to residents in the city-state, and last week Binance’s Singapore-only affiliate announced it also was shutting down its trading platform for the city-state. Dozens are confronting a similar fate.

Dubai-based crypto exchange Bitxmi is one of 103 companies that appear on the latest MAS list of entities whose exemptions allowing them to operate have been removed. Having set up in Singapore in late 2018, it was unsuccessful in securing a license, Chief Executive Officer Sanjay Jain told Nikkei Asia.

“We can’t operate in Singapore,” he said. “We have an office there, but it’s just more or less — there’s one person for our accounting and legal issues.”

Jain declined to speak about why his outfit did not manage to secure a license from regulators. “That, you need to ask them,” he said.

The introduction of the licensing regime in January was cast as the next step in building a thriving crypto sector and set up a contrast with Singapore’s rival Asian financial hub, Hong Kong, which had taken a more skeptical approach to crypto businesses.

A spokesperson for MAS told Nikkei that it is supportive of innovation in the use of blockchain technology, which underpins cryptocurrencies, while also recognizing the risks.

“Cryptocurrencies could be abused for money laundering, terrorism financing or proliferation financing due to the speed and cross-border nature of the transactions,” the spokesperson said. “Digital payment token service providers in Singapore … have to comply with requirements to mitigate such risks, including the need to carry out proper customer due diligence, conduct regular account reviews, and monitor and report suspicious transactions.”

Rahul Advani, Asia-Pacific policy director at blockchain company Ripple, said Singapore’s stance on digital assets has resulted in the city-state being one of the most advanced and mature nations in the field, helping foster development and innovation in the emerging industry.

“It’s very clear where digital assets and related activities lie on the risk spectrum, so you mitigate the potential of developing and investing in technology that is unregulated,” he told Nikkei.

Crypto players that raced to set up in Singapore run the spectrum from exchange platforms for trading bitcoin, Ethereum and other tokens, through investment managers and financial advisers looking after digital asset portfolios for the wealthy, to business-to-business outfits helping corporate clients accept cryptocurrency payments.

Outfits that were operating in the country prior to the introduction of the licensing regime were granted exemptions until the outcome of their license application is known. Senior Minister Tharman Shanmugaratnam told parliament in July that there were 90 companies operating under such exemptions.

The MAS website showed that the group had shrunk to about 70 as of Dec. 14.

So far, only three players — DBS Vickers Securities, a unit of Singapore and Southeast Asia’s largest bank, DBS Group Holdings; digital payments startup FOMO Pay; and Australia’s Independent Reserve, which offers crypto exchange services — have been listed on the MAS website as licensed entities.

A cryptocurrency ATM sits next to a conventional cash machine in Singapore. (Photo by Dylan Loh)

Two others — Coinhako, which operates a crypto exchange platform, and TripleA, a payments company — have put out announcements themselves saying they have acquired the necessary approvals to operate.

Anndy Lian, chairman of Netherlands-registered crypto trading platform BigONE Exchange, told Nikkei that his outfit does not intend to apply for a license in Singapore presently.

“The whole process of selecting who to give the license to is not very transparent,” he said. “It gives the impression that the government is favoring big players and foreign exchanges.”

MAS has not publicly disclosed why specific crypto players were unable to obtain a permit.

But Nikkei understands that some of them did not have the capacity or infrastructure to meet the high compliance standards set out by the financial regulator to deter money laundering and financing of terrorism.

“Cryptocurrencies are currently being used to channel the earnings of everything from ransomware proceeds, the sale of narcotics to some of the most horrific crimes, including human trafficking,” said Rachel Woolley, head of financial crime at client management solutions provider Fenergo.

“Regulators have now entered this space in an effort to protect the financial services industry from illicit activity in much the same way that activity involving fiat currency must be monitored.”

MAS pointed to comments from its managing director, Ravi Menon, who has said that Singapore does not need 160 players in the crypto sector and it may be better to have “half of them” operating at very high standards.

TripleA told Nikkei that in securing its permit, it had to ensure that its operating procedures for risk assessment, customer due diligence, record-keeping, suspicious transaction reporting, auditing and training were up to snuff.

But its CEO, Eric Barbier, said TripleA gained little insight into what exactly made the difference between success and failure.

“MAS never talks. MAS asks questions and questions and questions,” he said. “You can ask questions but they will not answer, and most regulators are like this.”

Barbier reckoned that being a business serving other businesses may have helped secure a license. “Especially for consumer-to-consumer, like consumer exchanges and so on, the risk of money laundering is very high, so they need to demonstrate to MAS that they are able to mitigate all those risks accordingly,” he said.

Peiying Chua, financial regulation partner for Singapore at the law firm Linklaters, said it is unlikely MAS is specifically favoring big, incumbent financial players: “Likely reasons for unsuccessful applicants may include a lack of track record or key personnel without adequate experience, a lack of a sustainable business model or serious adverse records relating to directors and key individuals.”

 

Original Source: https://asia.nikkei.com/Spotlight/Market-Spotlight/Crypto-entrepreneurs-find-Singapore-is-not-so-hospitable-after-all

Anndy Lian is an early blockchain adopter and experienced serial entrepreneur who is known for his work in the government sector. He is a best selling book author “Blockchain Revolution 2030”.

Currently, he is appointed as the Chief Digital Advisor at Mongolia Productivity Organization, championing national digitization. Prior to his current appointments, he was the Chairman of BigONE Exchange, a global top 30 ranked crypto spot exchange and was also the Advisory Board Member for Hyundai DAC, the blockchain arm of South Korea’s largest car manufacturer Hyundai Motor Group. Lian played a pivotal role as the Blockchain Advisor for Asian Productivity Organisation (APO), an intergovernmental organization committed to improving productivity in the Asia-Pacific region.

An avid supporter of incubating start-ups, Anndy has also been a private investor for the past eight years. With a growth investment mindset, Anndy strategically demonstrates this in the companies he chooses to be involved with. He believes that what he is doing through blockchain technology currently will revolutionise and redefine traditional businesses. He also believes that the blockchain industry has to be “redecentralised”.

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