We as a whole are due all originally invested funds into GYEN weather it was purchased, converted, or transferred to Coinbase. According to Daniel Li, the co-founder and COO of Stables, the integration of the Mastercard-supported wallet will be accessible to users starting from the second quarter of 2023. What Is the Ethereum Shanghai Upgrade and What’s Next For Ethereum The Shanghai upgrade enables validators’ access to assets staked on Ethereum and allows validators claim their rewards and unstake their staked ETH..
I’ve been screenshoting everything and noticed today they have changed 1 of my transactions already. Imagine buying a stablecoin and expecting to be paid gains. You will need a wallet that supports ERC-20 tokens to store your GYEN and ZUSD.
The issue occurred in mid-November when Coinbase customers were able to buy GYEN, a stablecoin that is pegged to the value of one Japanese yen. Also involved in the mishap was POWR, a cryptocurrency designed to be used in energy trading. As a result of Coinbase listing GYEN as a stable coin, we purchased, converted, or transferred funds into GYEN. Following the coin being listed we were then locked out of any and all functions of trade, transfer, conversion, or sale of GYEN, resulting in losses due to Coinbase error. Daniel Li added that Stables is optimistic about the future of USDC despite the recent issues that arose from the collapse of Silvergate Bank. He stated that stablecoins, particularly USDC, will be crucial to the new financial system and will play a vital role in linking traditional finance with decentralised finance.
The GYEN is a financial-grade stablecoin that is designed to see more people benefit from the growing blockchain finance sector. Multiple users are also reporting on Twitter that they are unable to transfer $GYEN from Coinbase, and trading in GYEN is still suspended. It cannot be transferred anywhere–not even to Coinbase wallet. If it cannot be transferred or traded, it’s unclear what you own. Before they froze it, the crypto-currency which should be fixed at the price of one yen, rose to 5 cents each.
What Is the Ethereum Shanghai Upgrade and What’s Next For Ethereum
– Coinbase lists ‘stable’coin GYEN, which immediately proves it’s clearly not pegged to anything. – Allows trading to continue, collecting exorbitant fees on trades for ‘stable’coin that’s clearly, massively inflated. – Exacerbates situation by issuing 10x, 100x, and 1000x the qty of tokens purchased by buyers, apparently due to a random internal issue with decimal placement. – Continues to collect fees on now further massively inflated trading.
I owned just $400 worth of GYEN, but it suddenly was worth $8800, after someone sent me around 1 million GYEN. Change the wallet network in the MetaMask Application to add this contract. “Once realized they had made a mistake, they locked everyone else to protect themselves,” Peacock said. “They held my money ransom for two weeks. I could have invested in other coins and had potential gains,” Fleming said. “They need to give some solid, concrete answers, and they need to refund every single person who invested in this and lost money.”
It is this need for a stable digital asset that has led to an increase in the trend towards digitising some of the world’s leading currencies, including USD and JPY. Just a friendly reminder that Coinbase is defrauding its customers in regards to $GYEN and other issues. “I bought some, felt good, read the description on it 30 mins later, googled Yen to USD, traded it quick with a tad profit. This is going to end ugly for some” User 4 wrote. “Idiots buy it thinking it’s a regular alt coin like doge or iotx. Some ppl who can’t be bothered to research what they buy end up with this stablecoin that’s pegged to the Yen. Funny as fk really.” User 3 wrote. “My loss was solely caused by Coinbase locking all the users out while they fixed their 100 times glitch,” he said.
GYEN, a regulated stablecoin pegged to the Japanese yen, will start trading on Binance today. They are listed by market capitalization with the largest first and then descending in order. Binance stopped trading so that new people didnt loose money on it.
Tokenomics data for this coin is currently unavailable. CFDs and other derivatives are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how an investment works and whether you can afford to take the high risk of losing your money.
Li further added that Stables would continue to collaborate with USDC and Circle as they consider them to be an essential part of the stablecoin ecosystem. Initially, the stablecoin-based digital Mastercard will be available for users located in Australia. However, there are plans to expand its reach to various regions such as Europe, the United States, the United Kingdom, and many countries in the Asia Pacific.
Crypto exchange Gemini launches new electronic OTC trading solution
Binance has delisted GYEN and holders who bought the token are left with way less or nothing as to what they bought into. I have several screenshots showing before and after they moved the decimal places in my Coinbase acoount on GYEN. It’s several millions worth.… they owe me quite a bit of money.
What is GYEN (GYEN)?
Gyen is available on many crypto exchanges currently. After its recent listing on Coinbase, it remains the best exchange to buy crypto. Other major exchanges for Gyen trading are Gate.io, Liquid, and Uniswap. By definition, the value of a stablecoin is pegged to a stable currency, which doesn’t fluctuate much. If that turns out to be the case, there aren’t many chances of the crypto coin giving exponential returns in any case.
I wonder how much Coinbase siphoned from us in total. If there is a lawsuit against Coinbase I would like to be included. If you would like to buy GYEN, the top cryptocurrency exchanges for trading in GYEN stock are currentlyCoinbase Exchange,Gate.io, andLiquid. GMO-Z.com Trust Company connects traditional finance and blockchain for everyone. We are issuing GYEN, the world’s first regulated Japanese YEN-pegged stablecoin, and ZUSD, the new digital dollar.
World’s First Regulated Stablecoin “GYEN” Begins Trading On Binance
Today, the Dash Core Group announced it has integrated crypto exchange Liquid.com’s ‘Quick Exchange’ feature into Dash’s official wallet app for Android. Users can now purchase Dash within the Dash Wallet by a VISA… Additionally, Liquid will soon offer a synthetic FX pair of USD/JPY via stablecoins. This will unlock synergies with one of the most widely traded forex pairs in the world. Outraged customers of Coinbase say the company has locked them out of their accounts after “technical reasons” forced it to halt trading GYEN last month.
What is the market sentiment of GYEN today?
Price of GYEN peaks at $.07 – nearly the $.008 Yen. – Coinbase suspends trading and cancels all orders without warning – those still holding watches helplessly as price tanks. – 72 hrs later, Coinbase sends demand letters to sellers of GYEN, threatening legal action if they don’t return profits gained via Coinbase’ own decimal mistake. – Offer nothing to buyers who paid them exponentially higher prices/fees for a massively inflated coin, and still keep them locked from their accounts.
The collaboration between Mastercard and Stables includes the development of a digital wallet that exclusively supports stablecoins. The wallet will come with a payment card that is backed by Mastercard. Celsius, a crypto yield rewards-earning platform, has today announced its latest integration with Liquid.com, a popular bitcoin & cryptocurrency exchange. Customers of Liquid now have integrated access to Celsius’ compounding yield on crypto, as…
Our stablecoins will allow you to seamlessly trade across our high-speed, global network of partner exchanges. You will be able to hedge volatility and experience digital fiat trading with ease through our partnered platforms. You can also enjoy noticeably faster counterparty settlement with a near-instant settlement process across our partnered settlement networks. Going through the regulatory approval process and development, GMO Trust was founded as a limited purpose trust company on 29th December 2020, regulated by the New York Department of Financial Services. We have employed rigorous policies, regulatory oversight, and security standards to help ensure that our digital assets share the same robust frameworks and time-tested guardrails inherent to traditional assets.
“Also, due to current hype and mentions of GYEN on reddit and twitter, this can easily reach 10 cents.” “From my prior experience, I feel it will be included on other exchanges due to demand,” he told The Sun. “Plus, the company regularly provides month-end balance audit reports.” In the case of GYEN, its currency is the Japanese yen . Plus, the crypto space in general can come with a fair share of complexity.