Welcome to the Daily Crypto section in OLE777 – Asia 1st Multiplatform Crypto Gaming. Today, the crypto industry was shocked by Singapore’s Fairdesk Exchange announced its permanent closure and Ripple co-founder Chris Larsen made headlines with a $1 million XRP donation to support Kamala Harris’s presidential campaign. Therefore investors beware of this! Robert Kiyosaki warns of a potential financial downturn that could impact Bitcoin and other assets, urging investors to prepare for market volatility.

Let’s dig deep into the details!

Fairdesk Exchange Will Close Permanently

Singaporean cryptocurrency exchange, Fardesk which launched in 2021, has offered high-quality crypto trading services globally. However, due to changes in regulations and market conditions, the platform will permanently close on November 30, 2024. All trading positions will be closed by October 17, 2024, but users can still withdraw funds until the final closure date.

Regulatory pressure has been increasing, impacting many exchanges. Fairdesk is one of several platforms struggling with compliance costs. Similar closures include Gemini in Canada and Bybit in France, both due to regulatory challenges. These pressures are pushing smaller exchanges out of the market, benefiting larger players.

Fairdesk assures users that its customer service team will assist during this transition. The company sincerely apologizes for the inconvenience and remains grateful for users’ trust. If you have been invested in Fairdesk and looking for detailed information, please visit the Fairdesk Cryptocurrency Exchange website.

Read more: FBI Created Ethereum-based Token to Uncovered Criminals

Robert Kiyosaki Warning About Crypto Market

The author of “Rich Dad Poor Dad,” Robert Kiyosaki gives a warning regarding a significant financial decline that may affect the cryptocurrency market. He argues that an “everything bubble” is approaching a critical moment and will affect Bitcoin’s price.

His advice to investors is to be more careful. He encourages investors to keep cash to buy an asset when prices fall and sell when prices rise again. Kiyosaki predicts that Bitcoin could plunge to $5,000 but possibly skyrocket to $100,000 or more.

Kiyosaki reminds us that gold, silver, and stocks may experience the same crashes. But, purchasing those during these low points could offer a chance to grow wealthy in the future. Kiyosaki believes that sharp investors can turn this financial storm into a unique opportunity.

Read more: Potential Coin to Bullish in Q4: Cutoshi, Solana, and Floki

Co-Founder Ripple Donated $1,7M to Support Kamala Harris

Ripple co-founder Chris Larsen donated $1 million worth of XRP to Future Forward PAC, supporting Kamala Harris’ presidential campaign. The donation of 1,754,815.29 XRP, made on August 18, 2024, was processed through Coinbase Commerce and converted to USDC to avoid market risks.

While the PAC has raised over $200 million from figures like Michael Bloomberg, this crypto donation marks a first. Despite Harris’ support for tech advancements, most crypto traders lean towards Donald Trump, as shown by data from Polymarkets, where 54% support Trump compared to Harris’ 45.1%.

Ripple’s backing of Harris may help with future crypto regulations, but with Trump leading, XRP’s price could face short-term challenges. Ripple is also dealing with its ongoing SEC case, with XRP’s price lagging in recent market rallies due to legal uncertainties.