Karsten Wenzlaff, Advisor
August 26th, 2025
Karsten Wenzlaff is a Crowdfunding and Fintech Expert from Germany. He is Secretary-General of Digit[...]
Category Archives: Online Funding / Investing Portals
Binance.US Refutes SEC’s Wash Trading Allegations
News | Jul 24, 2023
Image: Unsplash/Niranjan
Binance.US has vehemently denied allegations of wash trading brought forward by the United States Securities and Exchange Commission (SEC).
- On Jun 5, 2023, the SEC accused Binance entities of violating various securities laws, including allegations of wash trading, a manipulative market practice involving simultaneous buying and selling of the same asset to create an illusion of increased trading activity. The SEC claimed that Sigma Chain, a trading firm owned and controlled by Binance's CEO Changpeng 'CZ' Zhao, was a notable wash trader on the site.
See: Binance Withdraws from Canadian Market due to Tightened Crypto Regulations
- The allegations, which have sent ripples across the crypto industry, are part of a broader concern about market manipulation tactics in the sector.
- In response, Binance.US, the American arm of the crypto exchange, has strongly refuted these allegations. Binance.US Spokeswomen:
"We strongly believe that the SEC's allegations regarding wash trading are entirely unfounded, and based on a fundamental misunderstanding of the facts and a misapplication of the relevant law."
The Impact of Wash Trading on the Crypto Industry
Wash trading has long been a concern in the financial world due to its potential to mislead investors and artificially inflate trading volumes. A recent report revealed that wash trading accounted for over $6 trillion in artificial crypto trading volume in Q1 2020, suggesting that this practice remains a rampant issue in the crypto market.
The report also indicated that more than 70% of trading volume on crypto exchanges was derived from wash trading. If these figures are accurate, it suggests a significant level of market manipulation within the crypto industry, potentially undermining investor trust and market integrity.
The Future of Crypto Regulation
The allegations against Binance and the broader issue of wash trading highlight the need for increased regulation and oversight in the cryptocurrency industry. While blockchain technology's transparent nature and the availability of forensic tools make it increasingly difficult for exchanges to engage in illicit activities, regulators are still grappling with the unique challenges posed by the crypto industry.
Read: Court Rules XRP Sales Not Investment Contracts: How the SEC Case Could Reshape Crypto Landscape
As the crypto industry continues to evolve, it is crucial for exchanges to uphold high standards of market integrity and for regulators to adapt their oversight strategies to ensure a fair and transparent trading environment.
The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org
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Aviator as an online gambling game
Jul 19, 2023
This is a popular online gambling game inspired by the concept of aviation. In this performance, players try to predict when an airplane's flight will end, representing a multiplier of their initial bet. The game is characterized by its simplicity and fast-paced nature, attracting casual and experienced gamblers alike.
It is becoming more and more popular among all players around the world. In addition to the all mentioned above factors, the game also has great, realistic graphics which attracts more participants from all over the world. Besides, it includes excellent physics and movement of the plane. However, what is Aviator, some people ask. The right answer will be gameplay. So let’s explore it in detail.
Gameplay:
- Players place a bet: before each round, participants decide how much they want to bet. The minimum and maximum bets may vary depending on the platform hosting the performance;
- The flight begins: once all bets are placed, the game begins, and the airplane takes off. As the airplane ascends, a multiplier representing the current potential winnings increases;
- Players cash out: players have to decide when to cash out their bets, which they can do at any point during the flight. The goal is to consume before the airplane "crashes," which ends the round and causes all remaining bets to be lost;
- Payouts: if some Aviator participant cashes out before the crash, their initial bet is multiplied by the current multiplier value. For example, if a player consumes at a 3x multiplier, they would receive three times their initial bet.
The key to success in this performance is predicting when the airplane will crash and cashing out at the right moment to maximize winnings. However, the game is designed with an element of unpredictability, as the crash time is determined by a random algorithm. This unpredictability, combined with the game's simplicity and fast pace, make it an exciting and popular choice for online gamblers.
Simplicity of the Aviator
Generally speaking, the simplicity of the Aviator game is one of the main reasons it has gained popularity among online gamblers. This simplicity can be observed in a few key aspects:
- Intuitive concept: the premise of the performance is easy to understand—participants bet on an ascending multiplier and attempt to cash out before the "airplane" crashes. The aviation theme is relatable and engaging, making it easy for newcomers to grasp the game mechanics;
- Minimalist design: the performance interface usually features a simple design with a visible multiplier and an airplane icon. This minimalist approach allows players to focus on the gameplay without being overwhelmed by complex visuals or game mechanics;
- Fast-paced rounds: each round of Aviator is quick, often lasting only a few seconds. This fast pace keeps the performance engaging, as players can participate in multiple rounds within a short time frame;
- Easy betting process: the betting process in this game is straightforward. Participants simply enter their desired bet amount and press a button to confirm. This simplicity encourages even inexperienced gamblers to participate;
- Limited decision-making: during the performance, the only decision players need to make is when to consume their bets. This simplicity contrasts with more complex gambling games like poker or blackjack, which require players to make multiple strategic decisions throughout the course of the performance.
See: Citi Report: Blockchain’s Next Billion Users: Money, Tokens, Games
Overall, the simplicity of Aviator makes it an accessible and enjoyable online gambling option for a wide range of players, from casual gamblers to more experienced individuals seeking a quick and engaging performance.
The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org
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Binance Faces Leadership Crisis as Top Executives Resign Amid Regulatory Pressure
Fortune Crypto | Jeff John Roberts | Jul 6, 2023
Image: Binance CZ, youtube
Binance, the world's largest cryptocurrency exchange, is facing a crisis as top executives
- Including General Counsel Hon Ng, Chief Strategy Officer Patrick Hillmann, and SVP for Compliance Steven Christie, have resigned. Their departures follow the recent exit of Matthew Price, who was overseeing global investigations and intelligence. These departures represent a management and strategic crisis for Binance, especially as it is currently under immense regulatory pressure.
- The executives chose to leave due to CEO Changpeng Zhao's handling of ongoing investigations by the Department of Justice. The investigations, which have been underway for over a year, are related to Binance's alleged attempts to deceive U.S. regulators, as well as alleged money laundering and sanctions violations on the company's platform.
- Binance is also facing serious regulatory lawsuits filed by the Securities and Exchange Commission and the Commodity Futures Trading Commission.
See: OSC Pursues Binance Investigation, Unfazed by Crypto Exchange’s Departure from Canada
- Implications:
- The regulatory pressure and the decision by banks in the U.S., Europe, and elsewhere to cut off Binance's access to fiat currency have started to impact its market share. This could further strain the company's relationships with banking partners and regulators globally.
- The ongoing investigations and lawsuits could disrupt Binance's operations and potentially lead to fines or sanctions. This could also affect the company's reputation and customer trust.
- There are rumors that CEO Changpeng Zhao might step aside to help Binance weather the regulatory storm. If this happens, it could lead to significant changes in the company's leadership and strategic direction.
- Despite this, Binance remains the biggest cryptocurrency exchange in the world.
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The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org
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U.S. District Court Green Lights DealMaker’s Trade Secrets Lawsuit Against Darren Marble, Issuance Inc., and Crush Capital Inc.
DealMaker Release | Jun 28, 2023
DealMaker's lawsuit against Darren Marble, Issuance Inc., and Crush Capital Inc. has been greenlit by the United States District Court for the Central District of California.
- The court has denied the defendants' motion to dismiss the case, affirming that DealMaker's trade secrets claims are adequately stated in the complaint. This development underscores the importance of intellectual property rights and the potential legal consequences of their violation.
See: CCA 2022 Investment Crowdfunding Report: 7 Charts Highlight Growth and Impact
- Canadian company, DealMaker, a pioneer in the capital markets sector, alleges that the defendants accessed their platform under false pretenses and misappropriated their intellectual property and trade secrets. This case serves as a reminder of the critical role of ethical business practices in maintaining a competitive edge and the potential legal repercussions of their breach.
- In addition to the ongoing lawsuit, DealMaker has also sought a preliminary injunction to prevent the defendants from making false statements about the company. This move highlights the importance of reputation management in the business world and the legal measures companies can take to protect their brand image.
- DealMaker's innovative approach to capital raising, which includes equity crowdfunding, investor ranking algorithms, and data/analytical tools, has revolutionized the industry. The company's mission to simplify the process of raising capital into an eCommerce-like experience underscores the growing trend of digital transformation in the financial sector.
See: Patentability In Software – Everything You Need To Know
- The implications of this case extend beyond the involved parties. It emphasizes the importance of intellectual property protection in the era of digital business and could set a precedent for future cases involving trade secret misappropriation. For businesses, it serves as a reminder to ensure robust security measures and legal protections for their proprietary information.
View the original release --> here
The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org
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Prime Trust’s Financial Failure and Shift Towards ‘No-Custody Solutions’
Decrypt | Andrew Throuvalas| Jun 28, 2023
Image: Pexels/RDNE Stock project
The fallout from Prime Trust's failure has highlighted the risks associated with crypto companies relying on third-party custodians for asset safety.
- Prime Trust was placed into receivership due to financial issues, with the State's filing indicating that Prime Trust is over $82 million in the hole from fiat liabilities. Crypto companies partnered with Prime Trust are addressing concerns about the safety of customers' assets following the custodian's failure.
- Coinbits, a platform for buying, selling, and automatically saving in Bitcoin, has had to suspend most of its services. Despite this, Coinbits claims that Prime Trust still has enough Bitcoin to honor their members' balances and plans to move towards a "no-custody solution" in the future.
- Swan Bitcoin, another Bitcoin financial services company, withdrew all assets from Prime Trust weeks in advance of the custodian's fallout. All Swan clients' assets now rest with Fortress, a crypto custodian led by Scott Purcell, the same CEO that led Prime Trust until January 2021.
See: Bloomberg Invest: Banking and Blockchain Conversation with Former SEC Chair Jay Clayton and Dan Morehead of Pantera Capital
- Implications:
- The fallout from Prime Trust's failure has highlighted the risks associated with crypto companies relying on third-party custodians for asset safety. This could lead to a shift in the industry towards "no-custody solutions", as indicated by Coinbits' future plans.
- The situation also raises questions about the potential for "clawbacks" during Prime Trust's bankruptcy process.
- This could have significant implications for companies like Swan, which withdrew assets before Prime Trust's collapse. However, Swan's CEO Cory Klippsten has asserted that such clawbacks would be illegal and against precedent, indicating a potential legal battle ahead.
- Klippsten denied that Swan knew Prime Trust was insolvent before withdrawing, saying that the firm had been preparing to migrate away from the custodian for 9 months.
Swan CEO Cory Klippsten via DM:
I don't think having the ledger/custody on the broker side is the answer because I expect regulations soon forcing the separation of brokerage and custody, which is required for the rest of the financial industry and is the best legal setup for users.
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The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org
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Small Businesses Can Benefit from These Types of Loans
July 4, 2023
Image: Freepik/Drazen Zigic
Small businesses form the backbone of the Canadian economy. They boost local industry, drive innovation, and create jobs. In fact, businesses with 1 to 99 employees comprised 98.0% of all employer businesses in the country in 2022, according to Statistics Canada.
Expanding a small business, taking advantage of seasonal opportunities, or meeting costs in an unpredictable economy can require significant capital. Many companies try to utilize small business loans to finance current or future business activity.
From traditional bank loans to alternative lenders, there are several options available to entrepreneurs looking to secure financing:
Finding the Right Loan
Navigating the world of small business loans can be complex and intimidating. That’s why small businesses can benefit from using Levr.ai; a free and intelligent loans platform designed to make it easier for small businesses to navigate through funding options and secure the right financing.
In a nutshell, Levr.ai is a sophisticated software company that leverages artificial intelligence (AI) and machine learning (ML) to help applicants match with the best loan options and certified lenders. The application process is uber easy and secure.
Levr.ai guides you through the entire loan application process. Once you share some information about your business, the platform matches you with its top certified lenders for the funding your small business needs. Businesses are also free to get support from their business partners, financial advisors, or accountants during the application process. Levr.ai also makes it easy to complete your online loan application for multiple lenders by connecting to your online banking and accounting data.
Different Types of Small Business Loans
There are several types of small business loans available today, including term loans, merchant cash advances, and others. Each type of loan has its unique features and benefits.
1. Term Loans
Traditional Term Loans are the most common type of loans. Small businesses usually use them for specific purchases or investments. Term loans have a fixed repayment schedule. Their interest rates can either be fixed or variable.
2. Merchant Cash Advances
A merchant cash advance (MCA) is a type of business loan where a lender provides a lump sum payment in exchange for a portion of the business’s future sales. The loan repayment is made through automatic payments from the business’s bank account until the loan is paid in full.
MCAs are suitable options for businesses with good cash flow but don’t qualify for conventional loans and need fast and flexible funding options.
3. Equipment Loans
Small businesses needing expensive equipment such as machinery should consider equipment loans. There are different types of equipment loans. Lenders offer a lump sum of money to purchase equipment in a conventional equipment loan. The borrower repays the loan with interest over a fixed term.
Alternatively, the borrower can lease the equipment. Here, the lender purchases the equipment and leases it to the borrower. At the end of the term, the small business can purchase or return the equipment.
4. Invoice Factoring
Invoice factoring, also known as invoice financing or accounts receivable financing, is a fast and flexible option for small businesses. Companies can leverage their unpaid invoices to access working capital at a cost.
5. Line of Credit
A line of credit allows small businesses to borrow money up to a certain limit whenever needed. It’s a flexible option because small businesses only pay interest on the amount they borrow. They can also borrow and repay as needed.
6. SRED Loan Program
The SRED loan program is a form of cash advance. It’s available to Canadian businesses that have a good business plan and have engaged in successful R&D activities. The loan program can offer payment in installments or lump sums with flexible repayment terms, depending on the R&D project.
See: Why Small Businesses Invest in Stocks
Small business loans can be a valuable resource for entrepreneurs, offering the financial support required to start, grow, or sustain a business. That’s why it’s critical for small businesses to choose a loan that’s suited to their needs and financial situation. Working with an advanced loans platform can help small businesses match with the ideal financing options.
The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org
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Exploring the Benefits of Demo Accounts for Aspiring Traders
July 2, 2023
Image: Pexels/Liza Summer
Trading can be an enjoyable hobby and a great way to make some extra money, but it's essential to understand the process before jumping in. One way that aspiring traders can gain experience without risking any capital is by using a demo account. Demo accounts give you all the features of live trading without losing your money if things don't go as planned.
In this article, we'll look at the many benefits of demo accounts for budding entrepreneurs — from expanding their trading confidence to learning advanced strategies — so they'll be well-prepared when taking on real trading challenges.
What is a Demo Account and What Does it Offer to Traders?
A demo account is a simulated trading account that enables traders to practise buying and selling without risking real money. Demo accounts help new traders learn how to use trading platforms, get familiar with financial markets, and test their trading strategies. They offer a range of features and tools, including access to real-life prices, charts, and analysis tools, allowing traders to experiment with different trading styles and techniques.
One of the most significant benefits of demo accounts is that they offer traders the opportunity to gain confidence in their trading abilities without risking any capital. Overall, demo accounts are an essential tool for traders at all experience levels, providing a risk-free way to hone their skills and sharpen their trading strategies. An ADSS demo account, for example, is an excellent option for new traders, as it provides them with the resources necessary to hone their trading skills and knowledge.
The Benefits of Using Demo Accounts to Practise Trading Strategies
Demo accounts are the perfect place for aspiring traders to practise trading strategies without risking capital. Whether you're a beginner or an experienced trader, having access to practice accounts allows you to get comfortable with different markets, build confidence in your approach and test out different strategies before applying them in live markets. It also allows traders to identify what works best in various market conditions.
Furthermore, demo accounts provide novice traders with the tools they need to learn financial concepts like chart analysis and trends – skills that will be essential when making decisions on real trading platforms. They can also be used as a training ground for advanced strategies such as hedging or scalping.
Advantages of Testing Different Markets with Demo Accounts
Demo accounts provide traders with an excellent opportunity to explore different markets without committing any money. It can be especially beneficial for those who are just starting and may need help deciding which market they want to focus on. Demo trading allows traders to try various asset classes – like stocks, commodities, and indices – and find out which suits their style and objectives best.
Another benefit of demo accounts is that traders can test their strategies in real time without worrying about losing their capital if things go differently than planned. It can help them save time by quickly trying different approaches before committing money. It can also be used as an educational tool so that novice traders can learn how different markets work and what types of strategies they should use in each market.
Tips for Optimising Your Demo Account Experience
When starting on a demo account, it's essential to keep specific tips in mind to get the most out of your experience. Firstly, research and understand the different features and tools available on your trading platform. It will help you make more informed decisions when trading.
Rake time to practise – the more time spent learning and testing strategies on a demo account, the better-prepared traders will be for real-life trades. Finally, only move on from the demo when you feel comfortable applying what you've learned in live markets.
Best Practices for Utilising a Demo Account
The best way to take advantage of demo accounts is to use them as a learning tool rather than an opportunity to get rich quickly. Start by focusing on one market and learning the basics before moving on to advanced trading strategies. Once you're comfortable with the platform's work, try different strategies and see which ones work best in different markets.
It's also important to remember that demo accounts don't offer the same returns as actual trading – so be sure to set realistic expectations for your trades. Finally, review your trades regularly and identify what went right or wrong so that you can apply that knowledge when trading in live markets.
Common Mistakes Traders Make When Using a Demo Account and How to Avoid Them
One of the most common mistakes traders make when using demo accounts is taking on too much risk. Demo trading allows traders to experiment with different strategies without risking their capital — so it's important to remember that this isn't a substitute for real-life trades.
See: Retail Investors to Drive Growth in Private Assets Under Management Expected to Reach $18.3 Trillion by 2027
Another mistake is not prioritising education and practice – as with any skill, trading requires dedication and practice to be successful. New traders should learn about different markets and test their strategies before moving on to live trading. Finally, some traders may underestimate the importance of researching different platforms and tools available on a demo account. These can provide valuable insights into how markets move or what strategies work best.
The National Crowdfunding & Fintech Association (NCFA Canada) is a financial innovation ecosystem that provides education, market intelligence, industry stewardship, networking and funding opportunities and services to thousands of community members and works closely with industry, government, partners and affiliates to create a vibrant and innovative fintech and funding industry in Canada. Decentralized and distributed, NCFA is engaged with global stakeholders and helps incubate projects and investment in fintech, alternative finance, crowdfunding, peer-to-peer finance, payments, digital assets and tokens, blockchain, cryptocurrency, regtech, and insurtech sectors. Join Canada's Fintech & Funding Community today FREE! Or become a contributing member and get perks. For more information, please visit: www.ncfacanada.org
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