SINGAPORE, Dec. 19, 2024 /PRNewswire/ — Alchemy Pay, the world-leading fiat-payment gateway, has achieved a significant milestone successfully registering under Visa’s new Ramp Provider Program. This registration, made possible through it’s previously announced partnership with Worldpay, one of the world’s leading payments technology companies, marks a new chapter in Alchemy Pay’s mission to bridge the gap between traditional finance and the crypto global economies.

The Visa Ramp Provider Program, effective in multiple regions including APAC, CEMEA, Europe, LAC (excluding Brazil), the U.S., and Canada, provides a framework for third-party agents (TPAs) to convert fiat currencies into non-fiat currencies like Bitcoin (BTC) and Ethereum (ETH), and vice versa. This program is an important step forward in Visa’s broader strategy to enhance digital currency adoption and facilitate seamless transactions across its global network.

With this new registration, Alchemy Pay solidifies its role as a key player in the fiat-crypto payments ecosystem, offering solutions to a wide range of clients, from crypto exchanges and wallets to everyday merchants looking to accept digital currencies. As a registered ramp provider, Alchemy Pay is well-positioned to support the growing demand for crypto-to-fiat conversion services, enabling a more streamlined, secure, and efficient payment experience for users worldwide.

Partnership with Worldpay and Authorization by Visa

Alchemy Pay’s collaboration with Worldpay and its authorization by Visa has played a pivotal role in this achievement. In December 2023, Alchemy Pay announced its partnership with Worldpay to enhance its payment capabilities and offer access to Visa and Mastercard’s payment rails via its On & Off-Ramp services. This partnership enables users to buy and sell crypto seamlessly using their credit and debit cards, further improving the customer experience.

Furthermore, Alchemy Pay has been an official service provider under Visa’s Third Party Agent (TPA) Program since January 2023. As part of this recognition and authorization, Alchemy Pay has been able to offer payment-related services to Visa’s clients, further reinforcing its position as a trusted partner in the digital currency space and has been key to its success in completing the Ramp Provider Program registration.

Looking Ahead

“We are incredibly proud to complete registration under Visa’s Ramp Provider Program,” said Ailona Tsik, CMO of Alchemy Pay. “This milestone reflects our commitment to pushing the boundaries of crypto payment solutions and expanding access to digital currencies. Our authorization by Visa, along with our close partnership with Worldpay, will help us serve more merchants and users, enhancing the adoption of crypto payments globally.”

With this new registration, Alchemy Pay is set to play an even larger role in supporting merchants, businesses, and consumers as they navigate the expanding world of digital currencies. This milestone is part of Alchemy Pay’s broader compliance efforts to strengthen its position as a trusted and regulated player in the payments ecosystem. In the same month as this registration, Alchemy Pay also accelerated its compliance efforts by securing four additional Money Transmitter Licenses (MTLs) in the United States, bringing its total to eight licenses. The company has also expanded its licensing and compliance framework across Southeast Asia, Europe, and the UK, ensuring its services meet the highest standards of regulatory oversight globally. By working closely with Visa and Worldpay, Alchemy Pay is poised to provide a smoother and more inclusive payment experience for users worldwide, further accelerating the adoption of crypto payments.

About Alchemy Pay

Founded in Singapore in 2017, Alchemy Pay is a payment gateway that seamlessly connects crypto with traditional fiat currencies for businesses, developers, and end users. With its offerings including On & Off Ramp, Web3 Digital Bank, Crypto Payments and NFT Checkout, Alchemy Pay supports payments in 173 countries.

The Ramp is a one-stop solution to buy and sell crypto and fiat, easily integrated by platforms and dApps according to requirements. Our Web3 Digital Bank supports Web3 enterprises by providing multi-fiat accounts and instant fiat-crypto conversion capabilities. The crypto payment solution enables merchants to accept crypto payments globally, while allowing users to conveniently spend their crypto assets for everyday purchases. ACH is the Alchemy Pay network token on the Ethereum blockchain.

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Donald Trump’s cryptocurrency venture, World Liberty Financial, has drawn significant attention with its recent token swap. On Wednesday, the platform exchanged $10 million worth of Coinbase Global Inc.’s (NASDAQ:COIN) wrapped Bitcoin (cbBTC) for WBTC, an alternative wrapped Bitcoin associated with crypto entrepreneur Justin Sun. This move has raised questions about the platform’s strategy, Sun’s involvement, and the broader implications for the DeFi space.

Token Swap Highlights Ties to Justin Sun

World Liberty Financial, which positions itself as a DeFi lending platform, executed the swap through its official digital wallet. The transaction involved trading 103 cbBTC tokens for WBTC, marking a notable pivot in the platform’s holdings. Wrapped Bitcoin tokens, such as cbBTC and WBTC, are crucial for enabling Bitcoin holders to engage in decentralized finance on the Ethereum blockchain.

Justin Sun, a high-profile crypto entrepreneur and adviser to World Liberty Financial, distanced himself from the decision, stating, “This is their own financial choice; I have nothing to do with it.” Sun has been a controversial figure in the crypto world, most recently gaining attention for his $6.2 million purchase of a banana duct-taped to a wall at a Sotheby’s auction.

Sun’s $30 million investment in World Liberty Financial in November solidified his role as an adviser and helped Trump’s platform reach a financial threshold enabling it to generate profit.

Legal and Regulatory Backdrop

The swap is the latest development in an ongoing conflict involving wrapped Bitcoin tokens. Coinbase (NASDAQ:COIN), which launched cbBTC earlier this year, delisted WBTC, citing risks associated with Sun’s alleged control over the asset. BiT Global, the operator of WBTC and a partner of Sun, responded by suing Coinbase to prevent the delisting.

In a significant legal victory for Coinbase, a federal judge in California denied BiT Global’s request for a temporary restraining order to block the delisting. Coinbase maintained that Sun’s involvement posed “unacceptable risks” to its customers and the integrity of its exchange.

This legal backdrop underscores the complexities of the cryptocurrency landscape, where regulatory scrutiny and disputes over token control are common.

World Liberty Financial’s Expanding Portfolio

The token swap is part of a broader pattern of activity from World Liberty Financial. Last week, the platform acquired notable cryptocurrencies such as AAVE and LINK. Additionally, its wallets received approximately $250,000 worth of ONDO, a token issued by Ondo Finance, which specializes in asset tokenization.

While the platform is yet to become operational, these acquisitions suggest an aggressive strategy to position itself as a key player in the DeFi market.

Implications for DeFi and Wrapped Bitcoin

The swap between cbBTC and WBTC highlights a growing divide in the wrapped Bitcoin market. As a widely adopted wrapped Bitcoin token, WBTC has historically been a staple for Bitcoin integration into DeFi ecosystems. However, its association with Sun and related controversies have raised questions about its reliability and governance.

Coinbase’s cbBTC represents a newer entrant to the market, offering an alternative to WBTC. By distancing itself from Sun, Coinbase aims to provide a more transparent and secure wrapped Bitcoin option.

World Liberty Financial’s decision to align with WBTC rather than cbBTC indicates a calculated risk, potentially betting on Sun’s influence to strengthen its market position. However, this move also exposes the platform to regulatory and reputational risks associated with Sun’s controversial history.

What’s Next for Trump’s Crypto Platform?

World Liberty Financial’s activities have sparked curiosity and controversy in equal measure. With high-profile figures like Trump and Sun at its helm, the platform is uniquely positioned to make waves in the crypto industry.

However, its success hinges on overcoming several challenges:

Regulatory Scrutiny: The platform must navigate the increasingly strict regulatory landscape surrounding cryptocurrencies.

Market Trust: Aligning with contentious figures like Sun may erode investor confidence.

Operational Launch: World Liberty Financial must transition from an active wallet to a fully operational DeFi platform to prove its viability.

The Bottom Line

Trump’s crypto platform, World Liberty Financial, has taken a bold step with its $10 million token swap involving Justin Sun-associated WBTC. While the move positions the platform strategically in the DeFi space, it also invites scrutiny and controversy.

As the platform continues to build its portfolio and navigate legal challenges, its long-term success will depend on its ability to balance innovation with transparency and trust. Whether this latest move signals strength or a misstep remains to be seen in the evolving world of cryptocurrency.

On December 19, 2024, the cryptocurrency market faced a sharp and sudden downturn, with major digital assets experiencing significant losses. Investors were left scrambling as market leaders like Bitcoin (BTC) and Ethereum (ETH) saw dramatic price declines. This recent cryptocurrency market downturn has reignited concerns about the volatility of digital assets and their future trajectory.

Bitcoin and Ethereum Take the Lead in Losses

Bitcoin (BTC), the largest cryptocurrency by market capitalization, fell 4.6%, slipping below the $100,000 mark to $98,877. Ethereum (ETH), the second-largest cryptocurrency, faced even steeper losses, plunging 9.02% to $3,511.78.

Other major players also faced significant setbacks:

Binance Coin (BNB) dropped 6.05% to $670.68.

XRP declined 7.66% to $2.29.

Cardano (ADA) saw a dramatic 14.32% drop to $0.895.

Even meme-inspired Dogecoin (DOGE) wasn’t spared, tumbling 17.49% to $0.318. Across the board, these losses have rattled investor confidence, prompting questions about the underlying causes of the decline.

Market Sentiment Turns Bearish

The cryptocurrency market downturn is being attributed to a combination of profit-taking by long-term holders and a shift in broader market sentiment. According to analysts, the sell-off triggered a wave of liquidations that exacerbated price drops.

Aave (AAVE), a prominent DeFi platform, experienced significant fallout from these liquidations, with its price declining over 6% in just a week. Reports show that approximately $5.13 million in positions were liquidated, further intensifying the bearish momentum.

This wave of liquidations reflects the high volatility of the cryptocurrency market, where small triggers can lead to large-scale declines.

What’s Driving the Cryptocurrency Market Downturn?

Several factors contributed to Thursday’s sharp decline:

Profit-Taking: After a year of strong performance, many investors likely decided to lock in gains, triggering sell-offs across the market.

Market Overextension: Rapid price increases in recent months may have led to overbought conditions, setting the stage for a correction.

Regulatory Concerns: Increased scrutiny from global regulators continues to weigh on investor sentiment, creating uncertainty about the market’s future.

Macroeconomic Factors: Broader economic instability, including inflation concerns and geopolitical tensions, has added pressure on risk assets like cryptocurrencies.

Looking Ahead: What Lies Ahead for Crypto?

While the immediate outlook remains uncertain, analysts are divided on what comes next.

Arthur Hayes, a prominent crypto analyst, warns that January 2025 could bring further turbulence. Hayes has pointed to the political climate, including the upcoming inauguration of former U.S. President Donald Trump, is a potential catalyst for increased market volatility.

However, some market participants remain optimistic. Historical data shows that cryptocurrencies have often rebounded from steep corrections, sometimes emerging stronger. The growth of blockchain technology and the increasing adoption of digital assets continue to offer long-term potential.

Lessons for Investors

The recent cryptocurrency market downturn serves as a stark reminder of the risks inherent in digital asset investments. While cryptocurrencies have delivered impressive returns over the years, they remain highly volatile and susceptible to sudden price swings.

Here are some tips for navigating the market:

Diversify: Spread your investments across multiple asset classes to mitigate risk.

Stay Informed: Keep up with market developments, regulatory changes, and global economic trends.

Assess Risk Tolerance: Only invest what you can afford to lose, as the market can be unpredictable.

The Bottom Line

Thursday’s cryptocurrency market downturn highlights the volatility and unpredictability of digital assets. While the recent losses may concern investors, they also present an opportunity to evaluate market dynamics and prepare for future growth.

Bitcoin (BTC), Ethereum (ETH), and other leading cryptocurrencies remain central to the evolving digital economy. Whether the recent dip marks a temporary setback or the start of a prolonged correction, the cryptocurrency market’s resilience will undoubtedly be tested in the months to come.

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WARSAW, Poland, Dec. 19, 2024 /PRNewswire/ — Flipster, one of the fastest-growing cryptocurrency trading platforms, is proud to announce its recent achievement of the ISO/IEC 27001 certification, an internationally recognized standard for information security management. This milestone underscores Flipster’s dedication to safeguarding user data and ensuring a secure and trustworthy platform for its users.

This certification enables businesses across industries and organizational sizes to effectively address security risks, protect sensitive data, and comply with legal and regulatory requirements. By adhering to this standard, organizations demonstrate their commitment to information security and resilience in the face of evolving threats.

Achieving the ISO/IEC 27001 certification represents Flipster’s commitment to transparency, reliability, and trust. It reinforces the platform’s ability to manage user information securely and aligns with its mission to provide a safe and seamless environment for trading and asset management. The certification not only reflects Flipster’s dedication to excellence but also assures customers that their data is handled with the utmost care and security.

With the ISO/IEC 27001 certification, Flipster users can trade and invest with confidence, knowing that the platform is equipped with industry-leading security measures to protect their data and assets.

About Flipster

Flipster is one of the fastest-growing cryptocurrency exchanges, offering both futures and spot trading to traders globally. It supports users in capitalizing on market opportunities with ease. Especially known for its lightning-fast perpetual futures listings, Flipster offers 250+ crypto futures pairs tradable with up to 100x leverage with zero trading fees, deep liquidity, and narrow spreads. Core products include:

• Earn Campaign: High APR rewards of up to 22% by depositing USDT, BTC, or ETH.
• Launchpool: Daily USDT rewards through staking, with additional rewards through task-based multipliers.
• Airdrops: Crypto rewards from new and popular crypto projects by completing missions.
• Flipster also offers a range of programs for VIPs, Referrals, and Affiliates. For the latest updates, follow Flipster on X.

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Arthur Hayes, co-founder of BitMEX and a macroeconomic strategist at Maelstrom, has issued a stark warning for crypto investors. He predicts significant turbulence in the crypto market around Donald Trump’s potential inauguration in January 2025. Hayes views this anticipated downturn as a short-term correction within the broader crypto bull market cycle.

Crypto Crash Expected in January 2025

According to Hayes, the crypto market correction will likely occur near Trump’s inauguration date of January 20, 2025. Maelstrom, his investment firm, is preparing to scale back its exposure during this volatile period. Hayes plans to strategically reacquire key holdings at discounted prices during the first half of the year, positioning his portfolio for the next growth phase.

“Many traders attempt to time the market but often sell too early and lack the confidence to reinvest at higher prices,” Hayes explained. “This behavior often results in missed opportunities during a bull market. By recognizing this risk, our team is prepared to adapt swiftly if the market defies expectations.”

Trump’s Policies as a Volatility Catalyst

Hayes highlights Donald Trump’s anticipated return to the presidency as a significant catalyst for market instability. He believes Trump’s policies will expose structural weaknesses in the global financial system, ultimately bolstering Bitcoin (BTC) and other cryptocurrencies as long-term investments.

“Trump’s policies compel global leaders to address national economic challenges,” Hayes said. “Even before his potential return, these issues are reinforcing my conviction in the trajectory of financial repression and money printing.”

However, Hayes cautions that crypto investors may overestimate the speed at which Trump can enact transformative changes. He predicts the crypto market will soon recognize the limitations of Trump’s influence, particularly during his first year in office. This realization could trigger a sharp sell-off in cryptocurrencies and related equity trades.

Strategic Preparations for Crypto Market Volatility

To navigate the anticipated volatility, Maelstrom is implementing a dual strategy. The firm plans to reduce exposure during the downturn while maintaining readiness to reenter positions when the crypto market stabilizes.

“Our approach reflects a commitment to buying both market dips and rallies,” Hayes said. “This strategy ensures we capture the full potential of the ongoing bull market.”

Hayes also emphasized the importance of flexibility in investment strategies, particularly during periods of heightened uncertainty. His outlook underscores the need for crypto investors to remain vigilant and adaptive to evolving market conditions.

Broader Implications for the Crypto Market

Hayes’ prediction aligns with broader trends in the cryptocurrency space. Major institutions, such as Tesla Inc. (NASDAQ:TSLA), have increasingly integrated Bitcoin into their balance sheets, signaling confidence in its long-term value. However, the sector remains highly susceptible to external events and policy changes, making strategic foresight essential for navigating market fluctuations.

Hayes’ forecast serves as a reminder of the dynamic and unpredictable nature of the crypto market. While the anticipated downturn may cause short-term disruptions, it also presents opportunities for strategic investors to capitalize on discounted valuations.

Conclusion

Arthur Hayes’ warning of a crypto market downturn near Trump’s January 2025 inauguration highlights the intricate relationship between political events and market dynamics. By recognizing the potential for short-term volatility and preparing accordingly, investors can position themselves to thrive in the evolving crypto landscape. As Hayes and his team demonstrate, adaptability and strategic planning are critical for navigating the challenges and opportunities within the digital asset space.

The anticipated market correction and the broader implications for the crypto market underscore the importance of staying informed and adaptable in this fast-evolving space. Investors should carefully consider their strategy and timing in the months leading up to this significant event to maximize their gains and mitigate potential risks.

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