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Local Mayor Appointed as Director of Government Relations and Business Development at Cred

Emeryville Mayor Ally Media joins leading crypto-backed lending and borrowing platform

SAN FRANCISCO–(BUSINESS WIRE)–Cred, the leading global crypto-backed lending and borrowing platform serving customers in over 180 countries, today announced Ally Medina has joined Cred to lead the company’s strategic government relations and business development initiatives.

Medina currently serves as the Mayor of Emeryville and Executive Director of the Blockchain Advocacy Coalition, an organization dedicated to educating legislators and regulators on blockchain technology. Medina has been a driving force in supporting Assemblyman Ting’s AB 953 bill to define stablecoin standards for use with California state tax collection and to eliminate the need for cash transactions. Mayor Ally Medina also formerly served as the Executive Director of the San Francisco Democratic party.

Mayor Ally Medina will continue her responsibilities as a city council member on a part-time basis as she takes on her new instrumental role at Cred. Medina will work with city, state and national governments to design legislation and ordinances that enable efficient tax collection, merchant lending solutions, and an assortment of blockchain financial services designed to increase economic empowerment and financial productivity.

“Ally is a mover and shaker. Her impactful work at the city, state, and national level to help author blockchain legislation that supports economic empowerment and equitable financial solutions is a unique match with Cred’s mission to provide fair, inclusive financial services to the world through blockchain technology,” said Dan Schatt, Co-Founder and CEO of Cred. “We are thrilled to have Ally lead Cred’s business development initiatives designed to offer cash intensive merchants and city tax collectors new financial operating systems designed to eradicate cash and make their money work smarter and harder. “

“I am thrilled to join Cred, a company full of financial technology veterans with a track record of bringing significant and practical innovations to market for public good,” said Mayor Medina. “Their clear mission of leveraging blockchain technology to make money work harder and smarter resonates strongly with me as does their leadership in forging strong partnerships with government and private sector participants.”

Mayor Ally Medina’s appointment follows demonstrated company performance, with Cred becoming one of the most trusted names in crypto lending and borrowing. Within the past year, the Bay Area-based company has vaulted to the top of its peer group and is considered a leading provider of crypto financial services. Cred has undertaken key licensing, insurance and regulatory work, and Cred services customers in 183 countries. The company is a founding member of the Universal Protocol Alliance, which aims to create interoperability among digital assets and foster a new level of transparent reserve management infrastructure to support the next billion users of crypto assets.

ABOUT CRED

Cred is a global lending and borrowing platform that facilitates open access to credit anywhere and anytime. Founded by former PayPal financial technology veterans, Cred has secured over $300 million of lending capital and is headquartered in the San Francisco Bay Area. Cred’s mission is to harness the power of blockchain to allow everyone to benefit with superior financial services. Cred brings together a diverse team of entrepreneurial leaders, machine learning, and the power of blockchain technology. For more information, visit mycred.io.

Disclaimer: Cred (US) LLC is a licensed lender and allows some borrowers to earn a yield on cryptocurrency pledged as collateral. That yield feature is sometimes referred to as “CredEarn.” Outside the United States, Cred LLC accepts loans of cryptocurrency from non-U.S. persons and pays interest on those loans. Neither Cred LLC nor Cred (US) LLC sell or offer to sell investments or securities; neither entity is a bank and no transaction or arrangement provided by either entity is guaranteed or insured by the FDIC or any other governmental entity. “CredBorrow” and “crypto line of credit” (abbreviated “C-LOC”) are trade names for lending products of Cred (US) LLC. This communication may not be used to offer or sell anything in any jurisdiction if doing so is not lawful. Loans made or arranged pursuant to California Finance Lenders Law License 60DBO-58789.

Contacts

Nicole Wood

Cred Director of Communications

[email protected]

Business Wire , 2019-12-02 19:07:22 ,

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NewsBlock © 2019 - 2020 All rights reserved.

NewsBlock © 2019 - 2020. All rights reserved.


While Bitcoin’s price seemingly moves without rhyme or reason — collapsing by dozens of percent and embarking on face-melting rallies on a whim — the cryptocurrency market is filled to the brim with fractals.

Related Reading: Analyst: Bitcoin Price Likely to Fall to Low-$8,000s as Chart Remains Weak

A brief aside: A fractal, in the context of technical analysis and financial markets anyway, is when an asset’s price action is seen during a different time. This form of analysis isn’t that popular, but it has proven to be somewhat valuable in analyzing Bitcoin.

One recent fractal popularized by a well-known cryptocurrency trader is implying that BTC is going to return to the low-$7,000s in the coming days.

Bitcoin Fractal Implies Retracement to Low-$7,000s

A well-known crypto trader going by “Tyler Durden” on Twitter recently posted the chart below, which shows that a Bitcoin price fractal may be playing out. The fractal has four phases: horizontal consolidation marked by one fakeout, a surge above the consolidation phase, a distribution, then a strong drop to fresh lows.

If the fractal plays out in full, BTC could reach the low-$7,000s again, potentially as low as $7,100. This would represent a 20-odd percent collapse from the current price point of $8,800.

It isn’t only a fractal that is hinting Bitcoin has the potential to visit its lows. As we reported on Saturday, Bloomberg believes that if the GTI Vera Convergence Divergence Indicator flips red, a downtrend could push the cryptocurrency back to $7,300.

Related Reading: Stephen Colbert Pokes Fun at Bitcoin in Monologue: Mainstream Gone Wrong?

Can Bulls Step In?

But again, many believe it is irrational to have such bearish interpretations of the cryptocurrency’s chart at the moment. As reported by NewsBTC earlier, Popular crypto trader Mayne recently noted that the “people waiting for $6,000” are irrational. He quipped that Bitcoin retracing and consolidating after its fourth-biggest bull move in history ($7,300 to $10,500, a 42% gain) is perfectly par for the course, but noted that it’s totally possible we can go lower from $8,800.

The medium-term technicals support this.

Trader and CoinTelegraph contributor FilbFilb found that by the end of November or start of December, the 50-week and 100-week moving averages will see a “golden cross,” which he claims is far more significant” for the Bitcoin market that other technical crosses.

Also, a Bitcoin price model created using Facebook Prophet machine learning found that the leading cryptocurrency is likely to end the year at just over $12,000. What’s notable about this model is that it called the price drop to $8,000 months in advance, and forecasted a ~$7,500 price bottom for BTC.

To put a cherry on the cryptocurrency cake, Crypto Thies observed that when Bitcoin bottomed at $7,300, it bounced decisively off the 0.618 Fibonacci Retracement of the move from $3,000 to $14,000, which correlates with the two-week volume-weighted moving average. He added that summer 2019’s consolidation was marked by Bitcoin flipping major resistances into support levels, implying that a bullish reversal and subsequent continuation is likely possible in the coming weeks.

Featured Image from Shutterstock


Nick Chong , 2019-11-10 12:00:38

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