Member Info for WolfofWarks

This is why I think we should be making hay what the sun is shining in order to keep some powder dry for the harder times. Okay we’re in a crypto shares but shareholder returns will ultimately be returned in fiat.

On the positive side the usd is strengthening which will increase the value of our holding in GBP.

Digital marketing is expensive. To get the value out of it you need the click through to purchase the product.

Otherwise your not getting ultimately value out of what will be a big spend.

Crypto just going through a hard time at the moment, nothing that hasn’t happened before.

Fwiw I hope you’re right too. I just meant looking at the chart rather than picking at you.

Sorry in what sense are we on a bull run?

This is bear territory and therefore a buying opportunity.

At least the debt will be underpinned by a valuable asset in fiat which will serve as a natural hedge to protect the balance sheet during drops.

I do think holding the bitcoin on the hope it’s more valuable later on is a bit of a ‘greater fool’ play that isn’t serving us very well at the moment. I think we should be cashing some in every month and building a balance sheet that withstand the ups and downs. It would have proven a very good strategy during the highs rather than seeing the holding halve from the recent highs. Could have even bought back in cheaper and increased the number of coins.

I started life on HE1 with a CFD on IG at 7p.

IG then banned a load of what they considered high risk bets when all the GameStop shenanigans started with HE1 being one of them so I have to close and didn’t get back in until 13p.

If I still had that initial CFD I would have 6/7 bagged by now on the leverage.

I don't understand the rationale for this other than for future planning in the unlikely event that we end up with so much cash that it makes sense to return some back to shareholders.

We're at the start of a turn around plan, coming out of a pandemic that has ran though our core business, Surely cash is king.

I've had my eye on CBX for a while since the IPO after I found out about Peter Wall's involvement in it - I'm an ARB holder.

Been looking for a decent entry point and I think the time's now about right ready to build a nice position in time for the launch, so bought my first tranche this morning.

I’d be interested to know what these ‘stringent requirements’ are.

Hi musicman - I’m not too sure I’ll not profess to be any kind of expert on these things and my only crypto exposure is through Argo.

My guess would be you can’t access the platform by any services regulated in the UK.

Although not strictly HE1 related in this weeks Sunday roast there’s a good chat on helium related to another company that the guest is invested in through Cloudbreak Discovery’s.

So you can still use Binance just via another country, ie not via a uk provider.

If I’ve read this correctly.

As part of the FCA’s actions, the regulator ordered Binance to display by next Wednesday on its website that, “BINANCE MARKETS LIMITED IS NOT PERMITTED TO UNDERTAKE ANY REGULATED ACTIVITY IN THE UK.” Binance Markets Limited also must “secure and preserve all records and/or information?.?.?. relating to all UK consumers from its systems” and halt any advertising and financial promotions.

Binance Markets Limited was established a year ago as part of a plan by the broader group to launch a UK-focused exchange, Binance UK, which would have been “ring fenced” from the wider global operation, according to public documents and the two people familiar with the matter.

Although the FCA has restricted Binance from offering services in the UK, British citizens can still access Binance’s services in other jurisdictions.

London-based Binance Markets Limited had permission from the FCA to provide consumers with investment services in traditional currencies, something Binance achieved by purchasing a financial company that was already registered with the regulator. The transaction was approved by the FCA last June, according to public documents.

The FCA’s decision comes after Japan’s Financial Services Agency warned last week that Binance was conducting unauthorised trade in cryptocurrencies with Japanese citizens. It is the second time the FSA has warned about Binance after publishing an identical notice in 2018.

Germany’s financial watchdog warned investors in April that Binance had probably violated securities rules over its launch of trading in stock tokens, something the exchange tried unsuccessfully to appeal against.

This is the FT article if anyone is interested:

The UK’s financial watchdog has ordered Binance to stop all regulated activities in Britain and imposed stringent requirements in a stinging rebuke of one of the world’s biggest cryptocurrency exchanges.

The intervention by the Financial Conduct Authority in recent days is one of the most significant moves any global regulator has made against Binance, a sprawling digital asset firm with subsidiaries around the world. The exchange has until Wednesday evening to confirm it has complied with the watchdog’s demands.

The intervention is a sign of how regulators are cracking down on the cryptocurrency industry over concerns relating to its potential role in illicit activities such as money laundering and fraud, and over often weak consumer protection.

The FCA also this weekend issued a consumer warning against both the Cayman Islands-registered Binance holdings company and Binance Markets Limited, a London-based affiliate that is controlled by chief executive Changpeng Zhao and is overseen by the UK regulator.

“Binance Markets Limited is not permitted to undertake any regulated activity in the UK,” the FCA said, adding, “no other entity in the Binance Group holds any form of UK authorisation, registration or licence to conduct regulated activity in the UK”.

Binance said it takes “a collaborative approach in working with regulators and we take our compliance obligations very seriously”. It added that the FCA’s notice “has no direct impact on the services provided on Binance.com” since Binance Markets Limited is a separate entity.

Binance Markets Limited is not approved under the FCA’s cryptocurrency registration regime, which is required for UK groups offering digital asset services.

The entity had applied to become a registered cryptocurrency company with the regulator, but pulled that application last month according to two people familiar with the situation. The watchdog confirmed the application had been dropped “following intensive engagement from the FCA”.

The FCA’s focus in deciding whether or not to approve such applications is based on a review of controls and practices to prevent money laundering and the financing of terrorism.

Binance is one of the most important operators in the fast-emerging crypto market, offering a wide range of services to customers around the world, including trading in dozens of digital coins, futures, options, stock tokens, as well as savings accounts and lending. It recorded crypto trading volumes equivalent to $1.5tn last month, according to data from TheBlockCrypto.

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As part of the FCA’s actions, the regulator ordered Binance to display by next Wednesday on its website that, “BINANCE MARKETS LIMITED IS NOT PERMITTED TO UNDERTAKE ANY REGULATED ACTIVITY IN THE UK.” Binance Markets Limited also must “secure and preserve all records and/or information?.?.?. relat

The Times and the FT don’t seem to like covering small companies. It’s like they are beneath them.

I quite like reading the investors chronicle as it’s written by serious people, unlike motley fool, etc, and they do give some coverage to small caps.

Oh and today for me a bag on my initial investment so happy days!

Before this weeks rise I was going to go with a large stake (for me) on Monday.

So I think looking at the spiking potential in going to drip feed in over a longer period.

I must remember ARB at the start if the year which just went up and up and up.

Yep

Flawless execution so far from DM. Quality output on social media as well keeping us informed rather than ‘nudge, nudge, wink, wink’ propaganda.

That looks to be a very good alliance.

I don’t know much about SI other than it’s obviously massive in the states.

Bitcoin in itself doesn’t generate cash, like gold. His point is that in these commodity type assets that you are dependant on someone else paying a higher price in order to realise your profit.

If you’re interested there’s quite a good video on YouTube where he talks about buying a farm in the 70’s and stock market type folk thought he was mad. But he could earn an income from the land, etc.