Abhinav Soomaney’s Post

YOU ASK, WE ANSWER #1 Many teams have asked us how they could make crypto payments for our data services. BDS accepts USDC & USDT payments for subscriptions plans of 3, 6, and 12 months. If you'd like to use Birdeye's APIs and make payments to us in crypto, please contact our team for detailed instructions: https://lnkd.in/gKti4MCh Our Dashboard is also upgrading to enable easy crypto payments. So stay tuned for further updates!

Stablecoins enable fast, cheap global payments and are seen as a "killer app" in crypto. Transaction fees for #USDC on #Ethereum have dropped from $12 in 2021 to $1 this month, while on Coinbase's #Base network, they cost less than a cent. These fees are significantly lower than the $44 average cost for international wire transfers, making stablecoins a highly cost-effective solution for global financial transactions. Source: State of Crypto Report 2024

Tons of payment methods out there, but one particular payment method is guaranteed to get you more customers: I’m talking about crypto payments. Once a crypto user sees an option to pay with crypto, they’re more likely to choose it over other methods. Not only that, but they’ll trust you more because they know you value security. It also attracts a huge number of young customers because of how relevant crypto is. Drop a comment below if you have any questions about crypto payments or how to integrate. It’s a very simple process that takes minutes. ____ I’ve seen first-hand how speed, safety, and reliability are driving giants to adopt crypto payments. It’s time you followed suit. Want to know more? Send me a message. #crypto #payments #subscription

🔍 **eToro Settles Lawsuit with SEC, Agrees to $1.5 Million Fine and Trading Restrictions** 🔍 eToro, a prominent trading platform, has reached a settlement with the US Securities and Exchange Commission (SEC), agreeing to pay $1.5 million. As part of the settlement, eToro will also restrict its cryptocurrency trading activities in the United States. The SEC's statement reveals that eToro was operating as an unregistered broker and clearing agency, trading certain cryptocurrencies as securities without proper registration. Consequently, the platform will now “cease trading activity in nearly all crypto assets” and will only offer a limited selection, including Bitcoin, Ethereum, and Bitcoin Cash. This settlement reflects the SEC's ongoing efforts to enforce regulatory standards in the rapidly evolving crypto industry. With clear regulations still taking shape, the agency has turned to litigation to address compliance issues within the space. For those interested, this case underscores the regulatory challenges facing trading platforms and highlights the SEC's continued focus on ensuring adherence to federal securities laws. #eToro #SEC #CryptoRegulation #TradingPlatforms #Cryptocurrency #LegalSettlement #Finance #Compliance

NFG-Crypto redefines crypto payment processing: simple setups, no hidden costs, and the market's lowest fees—all transparent, no surprises. Guaranteed to beat your current processor's prices. Switch to efficiency. #NFGCrypto #CryptoPayments #LowFees #NoHiddenCosts #EfficientPayments

Last year, crypto and fintech groups faced a staggering $5.8bn in fines, eclipsing penalties for traditional financial services for the first time ever! 🤑 Insights: Crypto fines hit $5.8bn, including a massive $4.3bn penalty on Binance. Traditional financial services fines at a decade-low of $835mn. Total fines for money laundering and financial crimes surged 30% to $6.6bn. Experts suggest this shift reflects a growing focus on tightening regulations in the crypto space. Is this a sign of a new era in financial oversight? 🤔 #FinanceNews #Crypto #Fintech #RegulatoryShift #GlobalFinance Source - https://lnkd.in/d6qy7zeJ

Did you ever wonder what happened with "poor" Laszlo Hanyecz - which bought pizza for 10,000 BTC? Just small hint - here is the wallet belongs to Laszlo with (another) 34,685 BTC from June 2010. He posted it to show he had implemented hashrate counter. Do not underestimate the OGs! 😄 Robinhood and MetaMask partnered "to enhance crypto buying, merging DeFi with traditional finance for better user experience". Let's see how it will work... Bakkt, the crypto platform introduced by the NYSE's owner and Starbucks in 2018, warned that it might not be able to stay in business, citing bad cash flow. According to a SEC filing, Bakkt is seeking to sell up to $150M of securities, which could ease this problem. Can you imagine, that the bank will freeze your bank account and said that they would only unfreeze it is you sent info about your crypto addresses? No need to imagine anymore, this is what already happened (reported on Reddit). For $5K transferred from his crypto account, the user got a frozen whole bank account (12 years old account). Now can you imagine what will happen with CBDCs? #BTC #Crypto #SEC #CBDC #SuperFrank #CHFP

Should Revenue of a DPT service provider be presented gross / net in the financial statements? Crypto Finance Nugget 1 Prepared with Zhijie Liang When a customer buys a token on an exchange, does the exchange 1️⃣ Recognises a gross Revenue and a gross COGS or 2️⃣ Just the net transaction fee income in the revenue [IFRS] In accordance with IFRS 15 Revenue from contract with customer, An entity is a principal (and, therefore, records revenue on a gross basis) if it controls a promised good or service before transferring that good or service to the customer. An entity is an agent (and, therefore, records as revenue the net amount that it retains for its agency services) if its role is to arrange for another entity to provide the goods or services. Judgement is required in determining control. Some factors that the exchange can consider includes: 1️⃣ If the exchange controls the cryptocurrency before it is transferred to the buyer and as such carries the custody risk 2️⃣ If the exchange sets the price for the transaction 3️⃣ If the exchange is responsible for the fulfilment of the sale After reading 3 financials statements of local exchanges, all 3 exchanges used net transaction fee income. 😀 Please find other references in comments. I am trying out a weekly Crypto Finance Nugget. Let me know if you find this helpful or any other comments. #financeandaccounting #crypto #cryptocurrency

Our CPO, Ashley Pope, spoke to Bloomberg about the recent launch of a US dollar option on our instant payments network, BLINC Ashley: “We have seen a significant increase in the use of dollar accounts, which the crypto industry has struggled to access” He adds that bringing more tokens into the mix on settlement networks “allows firms that operate solely in crypto, as well as those that have both crypto and fiat capabilities, to seamlessly process payments" Read in full: https://lnkd.in/eMEgCY4B via Sidhartha Shukla #crypto #payments #instantpayments #digitalassets

🚀 Breaking News: #Coinbase Takes Legal Action Against SEC and FDIC Coinbase, a leading crypto #exchange , has filed a lawsuit against the U.S. Securities and Exchange Commission ( #SEC ) and the Federal Deposit Insurance Corporation ( #FDIC ). The lawsuit alleges non-compliance with FOIA requests related to Ethereum’s transition to Proof of Stake ( #PoS ). Question for the #CryptoCommunity What’s your take on Coinbase’s legal battle with the SEC and FDIC? How do you think it will impact the future of crypto regulation? Share your thoughts below! 👇🚀 As passionate supporters and active providers in the crypto industry, we’re closely monitoring this legal battle. Join us in staying informed! 💡 #Cryptocurrency #Regulation #BlockchainNews