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Why does Global Coin close VIP3 (unable to enter Global Coin)

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Why does Global Coin close VIP3? In the largest cryptocurrency exchange in the

Why does Global Coin close VIP3 (unable to enter Global Coin)

Why does Global Coin close VIP3? In the largest cryptocurrency exchange in the world, VIP (freelancers) is absolutely top-tier. However, for most people, they have a significant impact on the rights and benefits of members, so they choose to transfer their assets to their own controlled wallets for trading. Because if all the money in the user’s account is stolen or lost, it will cause the entire platform to malfunction. Therefore, many players complain that Global Coin has brought most of its customers to this project to protect its own fund security.

But why does Global Coin close VIP3? Since Global Coin is not the first digital asset currency to launch VIP1 and VIP2, why didn’t they introduce a new VIP level? Let’s take a look together.

What is the VIP level? As you may know, the VIP level is a specific type of service term. The higher the VIP level, the more services the user can get, which means it is more advantageous and valuable compared to other services, but this functionality also brings more risks. Users with higher VIP levels will face higher price losses. When you buy a high-level product, your investment portfolio will increase or decrease, and even generate losses; when you buy a low-level product, you will be fined or partly cancel the return rate. Of course, this is only individual behavior and not systematic behavior. (Please remember: this question is important and needs to be considered). If you have an excellent team and are willing to hold it for a long time, then you cannot enjoy such benefits. Some teams have already started using these services, such as OKEx, Huobi, and Matcha. Currently, there are several big-name companies that have also adopted different models to expand their business:

1. Fcoin, the largest digital currency exchange in China

2. Binance, OKEX, Huobi, and other international well-known brands

3. Bitmain, Jia Nan Yunzhi

4. Yibang International, Jia Nan Technology’s subsidiary companies have entered the market testing phase and may gradually develop into a compliant Bitcoin futures trading platform, becoming one of the first compliant Bitcoin futures trading institutions on Wall Street.

In summary, if all the traditional leveraged ETFs in the current market are mainstream leverage tokens based on Bitcoin, then the virtual gold now is gold based on Bitcoin as a reference index, and its underlying public chain is Ethereum Classic on the Ethereum blockchain, its technical characteristics are very obvious. Therefore, even when the market is in a downturn, investors can still find various short-selling strategies in the market, and there is a huge gap between spot and futures. This is similar to some mainstream fund managers in the market who are constantly investing a large amount of capital into those old generation investment targets and believe that they will not spend time hoarding BTC in a bull market, so they decide to operate these fund managers with the most conservative thinking method.

Unable to enter Global Coin

Unable to enter Global Coin.

According to Bloomberg, DBS Bank of Singapore has officially launched Global Coin (GUSD). The project is based on a Singapore-based blockchain fintech service company, supported by Singapore’s sovereign wealth fund, Credit Suisse, and Societe Generale, and issued tokens with the code name “GCR” through its subsidiary.

According to a report released by The Wall Street Journal on Thursday, the global cryptocurrency industry’s interest in Bitcoin has been declining in the past few years, “We are now looking for a way to reduce volatility.”

It is reported that the company has established a partnership with a company called Soramitsu, but it is currently unclear whether this transaction will affect the business development of the project. “I think this is a very interesting thing because this team has been researching various solutions,” a source told TheBlock. “It is obvious that the Global Exchange will not participate in such activities, and it has not yet registered with regulatory agencies.”

However, after Global Asset Management Limited is approved, it will have to divest a portion of its virtual assets-held GUSD. In fact, although many countries have stated that they intend to allow customers to use GUSD to buy or sell them, due to concerns that some government officials have about restrictions on GUSD and whether it constitutes a violation of anti-money laundering regulations, the organization has decided to cease operations.

Although the Singapore authorities still hope to suspend the sale of GUSD, the platform may face a series of challenges:

1. How to handle these risks?

2. How to avoid cross-border remittance issues?

3. How to prevent capital outflows?

4. How to ensure the security of investor information?

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