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Pre Settlement Funding

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Pre settlement funding is one of two lawsuit settlement funding methods, in which a person who has filed a compensation case can get funding in the form of a non-recourse loan from a pre settlement funding company on the basis of his or her pending case. Even if the settlement or verdict amount is smaller than anticipated, the amount to be repaid never exceeds the amount of the injured person’s share of the verdict. Pre settlement funding involves financing of on-going litigation, rather than buying legal fees after a settlement. The risk is much higher in pre settlement funding than post settlement funding and therefore pre settlement companies expect a much higher return.

A plaintiff in need of money contacts a pre settlement funding company, sometimes on the suggestion of an attorney. The pre settlement funding company contacts the lawyer who is handling the case, and obtains information about the case. On the basis of this information, the loan company assumes the value of the settlement or verdict and offers cash advance to the injured person. The loan and associated fees are paid to the finance company when the case is settled.

For pre settlement funding, the verdict may take years, which substantially reduces the amount of money that the finance company can pay to the client. The pre settlement funding companies aren’t likely to offer funds to plaintiffs who don’t have strong cases justifying substantial awards.

For avoiding usury laws the funding from pre settlement funding companies are not described as “loans”, but as “cash advances”, “investments” or “venture capital”. Not every state permits pre settlement funding. The Ohio court prohibited pre settlement funding saying that the funding could create a disincentive to settle a case, where the plaintiff would have to pay the entire amount of the settlement to the finance company.

Bitcoin

TA: Bitcoin Prints Bullish Pattern, Why Close Above $44K Is Critical

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Bitcoin

Bitcoin price started a decent increase above the $42,000 level against the US Dollar. BTC is now eyeing a key upside break above the $44,000 resistance zone.

  • Bitcoin started a recovery wave above the $42,000 and $43,000 resistance levels.
  • The price is still trading below $44,000 and the 100 hourly simple moving average.
  • There was a break above a major bearish trend line with resistance near $42,500 on the hourly chart of the BTC/USD pair (data feed from Kraken).
  • The pair could accelerate higher if there is a clear break above $44,000.

Bitcoin Price Starts Fresh Recovery

Bitcoin price remained well bid above the $42,000 level. BTC formed a support base and started a decent increase above the $42,500 level.

There was a break above a major bearish trend line with resistance near $42,500 on the hourly chart of the BTC/USD pair. The pair climbed higher above the $43,000 and $43,500 resistance levels. It even tested the $44,000 level.

However, the bulls are struggling to gain strength above $44,000. Bitcoin is still trading below $44,000 and the 100 hourly simple moving average. A high is formed near $44,024 and the price is now consolidating gains.

It even tested the 23.6% Fib retracement level of the recent increase from the $39,579 swing low to $44,024 high. On the upside, an immediate resistance is near the $44,000 level. The first major resistance is near the $44,200 level and the 100 hourly simple moving average.

Source: BTCUSD on TradingView.com

A clear break above the $44,000 and $44,200 levels could start a strong increase. The next major resistance is near the $45,000 zone, above which the price could rise towards the $47,000 resistance.

Dips Limited In BTC?

If bitcoin fails to clear the $44,000 resistance zone, it could start a fresh decline. An immediate support on the downside is near the $43,000 level.

The next major support is near the $42,000 zone. The 50% Fib retracement level of the recent increase from the $39,579 swing low to $44,024 high is also near the $42,000 zone. A downside break below the $42,000 zone could start a fresh decline. In the stated case, the price could even revisit the $40,000 level in the near term.

Technical indicators:

Hourly MACD – The MACD is slowly gaining pace in the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 50 level.

Major Support Levels – $43,000, followed by $42,000.

Major Resistance Levels – $44,000, $44,200 and $45,000.

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Judge Denies SEC’s Crypto Transactions to Ripple

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Judge Denies SEC’s Crypto Transactions to Ripple
  • Court denies in granting SEC’s crypto transactions to Ripple
  • Judge says SEC employee’s crypto history is completely irrelevant to the subject 
  • SEC states it has no fundamental obligations or policy upon crypto trading amongst its employees

The battle between Ripple and the U.S Securities and Exchange Commission (SEC) has been on fire since last month. Besides, the SEC now cornering the Ripple platform’s cryptocurrency, the XRP, Ripple fights back profusely. Also, according to the SEC, the Ripple platform and its cryptocurrency XRP are said to be completely insecure with many flaws in terms of security aspects. 

In spite of this, Ripple has filed a charge upon the federal court of New York at the end of August. Accordingly, Ripple requests the court to handover the SEC employee’s crypto trading history and transaction details. This is to the fact that if the employees have traded XRP, then with this Ripple wants to prove that the platform and its native token, the XRP are completely safe and secure. 

However, the entire court seems to be in favour of the SEC, as the judge denies granting Ripple’s request.

The Judge’s Decisions

The federal court judge, Sarah Netburn is found to be rather in support of the SEC and against Ripple. Accordingly, the judge states that the SEC’s Ethics Counsel did not implode Ripple or anything in link with it. 

Moreover, the judge states that in such a case it’s completely unnecessary for the SEC to give out the crypto trading history of its employees. And so, it’s not needed, declares the judge. 

In addition, Sarah points out that the court’s federal rules are to protect the U.S citizen’s privacy rights. 

The Battle History

Furthermore, it seems the SEC and the court favouring it are using the same statistics as that of Ripple previously. 

Accordingly, taking the history into account, at first the SEC has requested Ripple to provide it’s internal communications access. 

However, Ripple denied it. Also, Ripple justified that revealing all those related data and documents is a completely time consuming process and its cost is also a concern.

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Conflux (CFX) Price Sky-Rockets 60 Percent in the Last Week

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Conflux (CFX) Price Sky-Rockets 60 Percent in the Last Week
  • ShuttleFlow is a Conflux-based cross-chain asset bridge.
  • Sponsors pay the user’s transaction costs to assist with onboarding.

Promoting global token economy infrastructure. Conflux connects artists, communities, and markets globally. It is a high-speed first layer consensus blockchain that uses a Tree-Graph consensus algorithm to process blocks and transactions in parallel for improved speed and scalability.

It is the first regulatory compliant, public, and permissionless blockchain in China, linking decentralized economies to enhance the global DeFi ecosystem. Moreover, Conflux uses a well-tested PoW consensus to offer protocol-level security and anti-reentrance attack mitigation.

Increased Issue of Tokens

ShuttleFlow is a Conflux-based cross-chain asset bridge that allows smooth asset transfers across protocols. Moreover, it is the blockchain that can scale without compromising security or decentralization.

Built-in staking interest supports creative DeFi applications. The increased issue of tokens presently yields an annualized rate of 4%. Sponsors pay the user’s transaction costs to assist with onboarding. This mechanism enables individuals with no wallet balance to participate in the blockchain. 

Conflux’s token economy revolves around the $CFX token, which holders may use to pay transaction fees, stake for rewards, rent storage, and participate in network governance. Also, CFX compensates miners who guarantee the Network’s security. The Shanghai Free Trade Zone will explore cross-border trade using the offshore Renminbi (RMB) stable coin.

As per CoinMarketCap, Conflux Network price is $0.393001 USD. In the last 24 hours, the coin has gained 2.55% percent of its value. Furthermore, comparing the current CFX market cap to yesterday’s market value shows an increase.

The CFX gained sixty percent in the past 7 days. Moreover, Conflux Network has recently demonstrated great promise, and now may be an excellent time to invest.

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Bitcoin Falls to $40k Resulting in Over 180,700 Investors Liquidated

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Bitcoin Falls to $40k Resulting in Over 180,700 Investors Liquidated
  • UK’s Financial Conduct Authority publicly warned investors.
  • The largest crypto by market cap fell 10% in the previous week.

Fear of default by Evergrande Group, a Chinese real estate company, triggered a new round of crypto selling. 182,798 traders had been liquidated as of this report. The largest single transaction was a $14.52 million Bitfinex-ETH liquidation order.

CoinMarketCap.com values the global crypto market at $1.84 trillion, down around 1.6% from the previous day. The largest crypto by market cap fell 1% in the last 24 hours and 10% in the previous week.

After Tuesday’s sell-off, Bitcoin seems to have steadied around $40,000 support. After such a drop, analysts expect BTC to stabilize later this week.

A Parabolic Rise is Long Over-Due

Before the flash collapse earlier this month, funding rates were high, according to Delphi Digital, a crypto research company. However, the market was not as aggressive this time, resulting in a slightly better result. The developments surrounding Evergrande may cause increased volatility in the coming weeks.

On the charts, strong overhead resistance at $55,000 may limit short-term purchases. The U.S. With the Fed’s policy meeting ending on Wednesday and Bitcoin options expiring on Friday, volatility may remain high this week.

After this year’s relative Bull Run, an anonymous cryptocurrency expert told Nairametrics a parabolic rise is long overdue. Moreover, several weeks ago, the UK’s Financial Conduct Authority publicly warned investors about the risks of trading crypto assets.

The global crypto market is in the red due to the Evergrande crisis, dubbed as China’s Lehman Brothers. The uncertainty caused by Evengrande’s crisis impacted global stock markets. This crisis has a ripple effect on the cryptocurrency market as well as the global equity markets.

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Study Reveals Even By 2030, C02 Footprint From Bitcoin Mining Not a Concern

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Study Reveals Even By 2030, C02 Footprint From Bitcoin Mining Not a Concern