Vitalik Buterin Highlights Three Major Opportunities In Cryptocurrency

Vitalik Buterin (a computer scientist and co-founder of Ethereum) has discussed what he considers the 3 top opportunities to be witnessed in the crypto world at the current time. While appearing in an interview, Buterin stated that the creation of wallets that can facilitate numerous people is a beneficial thing and could prove to be a big opportunity in the crypto space.

Vitalik Buterin Classifies 3 Top Opportunities for Crypto

The Ethereum co-founder specified that such a wallet should possess a remarkable capacity to allure worldwide consumers by offering real advantages to the crypto community. As per him, a stablecoin that is specifically designed to deal with difficult challenges taking into account the hyperinflation of the US dollar can additionally be beneficial for the community in the long run.

In this way, he mentioned, innovative and promising developments are required and the crypto industry can be revolutionized through them. Buterin is of the view that the crypto community needs a lifeline to confront the current scenario around them. On the 5th of December, the Ethereum co-founder shared a blog post to present his point of view on the diverse ecosystem of Ethereum.

Buterin noted in the post that his platform has not remained the one that had significant potential to offer several undiscovered products and services. He claimed that Ethereum has turned into a forum that has rather proved to be one among some of the particular application categories which are already benefiting the community. In the words of the co-founder, the network is becoming stronger with time.

Ethereum Co-Founder Presents 5 Extraordinary Application Categories

He then talked about 5 categories of applications in which he was interested. The 1st one among them is “money.” He disclosed that an advantage of Ethereum’s Merge is that the transfers are incorporated at a considerably rapid pace and additional stability has taken place in the chain, making it securer to authorize transfers following some confirmations. According to Buterin, the ZK rollups and Optimistic’s scaling technology is escalating swiftly.

He added that multisig wallets have started getting more and more practicability with account abstraction. The respective trends will require some years to play a significant part as the technology is advancing, the Ethereum co-founder specified. The 2nd interesting thing in his perception is decentralized finance (DeFi) and Buterin puts it in the field that has kicked off extraordinarily however its span is limited at the present.

He thinks DeFi to be an overcapitalized giant depending on unsustainable yield farming types. The 3rd noteworthy subject, according to Buterin, is the Identity Ecosystem. In this category, he talked about the “Sign In With Ethereum” standard that permits the clients to enter conventional web portals just like Facebook or Google, saying it is a worthwhile method.

Subsequently, he touched on the 4th topic including the decentralized autonomous organizations (DAOs), and said that they provide control or ownership over some procedure or assets, signifying that it does not rely on any single centralized state or entity and all the participants of a DAO take part in its decisions.

The 5th category discussed by Buterin was related to Hybrid Applications. He revealed that several applications are not completely on-chain however take advantage of blockchain as well as the rest of the systems for the improvement of their trust models. He referred to Voting as the best example in this respect.

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Twitter Adds Ether And Bitcoin Price Indexes To Its Search Function

Twitter, a well-known social media company, has incorporated an exclusive feature in its search tab to let consumers search the value of the top crypto tokens Ether (ETH) and Bitcoin (BTC) just by entering their tickers or titles. The latest service is an advancement to Cashtags and Twitter Business account.

Twitter Offers Price Indexes for ETH and BTC in Its Search Tab

As noted by the account, whenever a prominent stock’s symbol is tweeted by someone, crypto or exchange-traded fund will appear with a $ and the users will be permitted to click that link to be redirected to search results including the relevant price graphs representing the respective symbols. According to the account, the price graph will be brought up by just a ticker symbol search related to crypto or stock.

On the 22nd of December, Elon Musk (the CEO of Twitter) reposted his tweet describing the unique feature’s announcement. The executive noted that it counts among several product improvements being made to the Twitter Business. It seems that ETH and BTC are just the two crypto tokens at present with the service of price charts. The rest of the well-known crypto tokens, taking into account Dogecoin (the favorite of Musk), are yet excluded.

Nonetheless, it is specified by Twitter Business that the project will enhance its exposure to symbols’ coverage as well as improve the consumer experience in the next weeks. A few have discovered that a variety of search tags like “BTC price,” “Bitcoin price,” and “$Bitcoin” also take to the price chart and similar is the case with Ethereum.

On the 21st of December, Jane Mastodon (a tech blogger) shared with her 158,700 followers on Twitter that the source of the respective charts is TradingView (a trading analysis forum). The price charts additionally present a link to Robinhood at the bottom, indicating that the retail trading firm has joined Twitter for the respective integration. The clients, on clicking the link, are directed to the price chart of Robinhood.

Nevertheless, no particulars regarding a collaboration between Robinhood and Twitter have been revealed yet. The integration of price charts may pave the way toward additional traffic to Robinhood because – according to BitinfoCharts’ data – #Bitcoin solely is tweeted nearly 120,000 times regularly. On the contrary, the range of Ethereum is around the mark of 25,000.

Formerly in December 2022, reports started circulating that the social media giant may establish its local crypto token entitled “Twitter Coin” and utilize it for payments being carried out on the platform.

Such rumors began spreading on the 4th of December, approximately a week following Musk provided a likely preview of Twitter 2.0, taking into account the potential integration of crypto-based payment integration on his social media forum.

However, at the moment, it seems that the future of the Tesla CEO at Twitter is somehow standing at a crossroads. This is because the Twitter executive has now become a controversial figure on the platform following sharing a poll for his resignation.

Musk Declares to Step Down as Twitter CEO on Finding Someone to Take Charge

On the 19th of December, Musk – while posting the poll – declared that he would regard the decision made by the consumers if they vote for his ouster. The results of the poll expressed 57.5% of the cumulative 17,502,391 votes polled for his exclusion. On seeing this, he announced to quit the platform as shortly as someone stupid agrees to take the post.

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BTC Mining Firm Core Scientific Files For Chapter 11 Bankruptcy

Core Scientific Inc., a giant in Bitcoin mining, has submitted a Chapter 11 bankruptcy filing in the US Bankruptcy Court for the Southern District of Texas. The liabilities of the mining platform are likely between $1B and $10B. The bankruptcy submission disclosed that there are up to 1,000-5,000 creditors of the mining company. The biggest amount of up to $42.36 is owed to the investment bank named B. Riley Financial.

Core Scientific Enters Bankruptcy protection amid Crypto Bear Market

The rest of the creditors take into account the Kentucky Department of Revenue, US Customs and Border Patrol, Shell Energy, Dalton Utilities, and so on. Core Scientific is considered among the biggest players in the mining world. Though Compute North and many famous names like it have pursued Chapter 11 protection, the bankruptcy filing of Core Scientific labels is the earliest mining company to do so.

The platform’s decision is witnessed following a bearish trend experienced during the whole year in which considerable price decline took place amid the mounting energy prices. In 2022, the mining difficulty of Bitcoin has also touched its record highs. The activities of Core Scientific essentially take into account Bitcoin mining and the hosting of data centers throughout the country.

As reported by CNBC on the 20th of December, the platform was still making an optimistic cash flow. Nonetheless, it is now witnessed that the funds of the firm are not sufficient to meet the debts over the mining equipment of the company. In the meantime, the firm would keep on operating while conversing on a strategy with those who are the holders of the debt in the majority.

Core Scientific went public during the SPAC boom in the previous year. While reaching its peak, the platform valuation was nearly $4.3B. After that point, it witnessed a steady decline reaching $78M with a dip of up to 98% in the firm’s year-to-date stock value. The mining company had signified the likelihood of a bankruptcy submission back in October 2022.

That was the time when it cautioned those holding its common stock that they might go through a complete loss over their investment in case the market sees no recovery. It added that the liquidity and the operating performance had been hit with a significant impact by the severe dip in the primary asset’s price along with the electricity prices’ huge upsurge.

Another problem faced by the platform is related to Celsius as it was its client. The bankruptcy filing of Celsius impacted the balance sheet of the mining firm and likely added to the liquidity-related issues. Notwithstanding the bankruptcy filing, the data from Yahoo Finance pointed out that a 3 percent increase occurred in Core Scientific’s stocks on the 20th of December at the trading hours’ closure.

Crypto Mining Platforms Face Bankruptcy

The reports additionally brought to the front that the stock of Core Scientific elevated by a minimum of 200% formerly in this month following a creditor entity giving them a financing proposal. Core Scientific is now becoming a part of the expanding list of succumbed crypto miners amid the present bear market.

The bankruptcy filing of Compute North was submitted in September. On the 20th of December this year, another mining forum called Greenidge Generation got into an agreement related to non-abiding debt restructuring with NYDIG. A filing submitted under the SEC additionally specified that the board of directors at Greenidge was anticipating a voluntary bankruptcy submission.

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SBF Close Allies Plead Guilty, Now Cooperating in FTX Investigation

Alameda Research Ex-CEO Caroline Ellison and Gary Wang, the FTX co-founder, have pleaded guilty to charges filed against them. On Wednesday, U.S. Attorney Damian Williams announced that the pair was ready to cooperate in the investigation into FTX’s sudden collapse.

The Security and Exchange Commission (SEC) also announced charging the two for their participation in a scheme targeting to defraud investors in the crypto exchange FTX. Meanwhile, the Commodities Futures Trading Commission revealed that it had amended its fraud complaint, citing that Wang and Ellison do not challenge their liability for participating in fraud.

Williams says that Sam Bankman-Fried is already in FBI custody and today is his expected arrival in the country. He adds that once he arrives, the plan is to transfer Bankman-Fried to the Southern District of New York and appear before the court as soon as possible.

FTX Employee Exposes the Firm’s Illegal Activities

The U.S. attorney failed to mention Ryan Salame, the former FTX Digital Chairman. Salame was the whistleblower who alerted Bahamian authorities about FTX using users’ money to cover incurred losses at its sister company Alameda Research. The incident happened a week before Bankman-fried filed for bankruptcy protection.

At that time, Salame mentioned Nishad Singh, the director of engineering, Gary Wang, and Bankman-Fried as the only executives who had the power to authorize the transfer of users’ funds to Alameda Research.

SEC Declares Wang and Ellison Active Participants in Fraud

SEC Chairman Gary Gensler announced the agency’s move to prosecute Wang and Ellison. Gensler accused Ellison and Wang of conspiring with Bankman-Fried to manipulate the FTT price, the FTX native token, to boost the value of their house of cards.

Meanwhile, the SEC Deputy Director of Enforcement Division Sanjay Wadhwa describes Wang and Ellison as active participants in a plot to hide vital information from FTX investors. Wadhwa says that the pair used FTT as collateral for several loans that Alameda Research took from FTX.

Wadhwa accuses Wang and Ellison of siphoning FTX users’ money onto Alameda Research while hiding the actual risks that those users faced. Gensler admits that risks to investors will likely continue until crypto exchanges comply with securities policies. The SEC chair promises to use every legal tool possible to bring the crypto world into compliance.

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Binance US Enters Into An Agreement To Purchase Voyager Digital’s Assets

Binance.US remained successful in winning the bid to obtain the assets of Voyager (the defunct crypto company). Voyager declared that the top bidder was Binance.US and the bid’s value was approximately $1.022 billion. The target of the bid is to be returned to the consumers. It is noteworthy that the initial winner of the bid was FTX however the contract collapsed after the recent bankruptcy of the crypto exchange.

Binance.US to Obtain Voyager’s Assets to Fulfill the Chapter 11 Bankruptcy Plan

As included in the bid, the US subsidiary of Binance will deposit almost $10M with honest intentions. Apart from that, Binance.US will bear nearly $15M in expenses of Voyager. In the contract, it is also mentioned that Voyager Digital LLC will pursue authorization from the bankruptcy court to get into the asset buyout contract with Binance.US. This move will be made on the 5th of January in the coming year.

The respective contract will be accomplished as a strategy under the Chapter 11 proceedings of Voyager. Voyager halted withdrawals in July this year and subsequently submitted a Chapter 11 bankruptcy filing. As per Binance.US the consumer funds of Voyager could be unlocked as shortly as possible as the path is clear. This signifies that the customers of Voyager could get their assets back before their previous expectations.

The contract requires court approval and votes from the creditors along with the routine closing conditions. After these things, the transfer of the funds will be carried out. The effective bid made by FTX for the assets of Voyager equaled $1.4B back in September this year but the crypto exchange became bankrupt and the plan backfired in November.

Voyager Digital crashed in the middle of this year after a decline witnessed in the prices of the crypto assets when many centralized platform dealing with digital assets collapsed one after the other. Formerly, the reports pointed out that the chief cause at the back of Voyager’s crash was its exposure to Three Arrows Capital (3AC) – a crypto-based hedge fund. The plans of Voyager further faded as the crypto empire of Bankman-Fried slumped.

Previously, a $485M credit line was secured by the crypto broker from Bankman-Fried’s trading giant Alameda Research. Other centralized finance firms such as FTX, Celsius, and BlockFi additionally submitted their bankruptcy filings during this year because of the enormous pressure of the bear market. They referred to the liquidity shortage, exposure to the rest of the virtual currencies companies, and market volatility to be the potential reasons at the back.

Binance.US Outcompetes Industry Behemoths in the Bid

In the agreement between Voyager and Binance US, it has been clarified that if the respective contract is not completed by the 18th of April in the next year – subject to the extension of up to 1 month – Voyager will have the right to rapidly provide the value back to its clients. In the winning bid of Binance US, the crypto exchange has been successful in leaving behind the giant industry players taking into account, INX, Wave Financial, and CrossTower.

The President and Chief Executive Officer at Binance.US, Brian Shroder, also remarked on the respective move. He stated that this bid points toward their guiding norm that the consumers should be given priority in any case. The executive added that they will attempt to provide the clients with their crypto assets in the shortest possible time as they have been unfairly pulled without their fault.

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Welzone Review – Is Welzone Scam or a Legit Crypto Broker?

Welzone Review

In your eagerness to start trading and reap the rewards of the opportunities in the financial market, you shouldn’t forget about the importance of choosing a broker. They are the ones that unlock the door for you and provide you the services that enable you to trade. Suffice it to say, they play a very vital role in your journey and you want one that you can trust and rely upon. Unfortunately, not all the options in the market meet this criteria and there are some that have turned out to be frauds and scams.

These are the ones to avoid, unless you don’t mind losing your money, or having your information compromised. The name of Welzone will also show up in your search and they have climbed up the ranks quicker than most of the other players in the market. Of course, this will definitely draw your attention, but you should do an overview of their features before reaching a decision. You can peruse this Welzone review for doing so:

Check trading products

The primary feature of every broker is their trading products i.e. the instruments you will trade for making a profit. There are literally hundreds of thousands of instruments that are spread across different financial markets and the profitability of each can and does vary. You would obviously want to have access to the best ones in order to get the desired returns, but every broker’s offerings are different. Thus, you need to check the ones available to see if they meet your requirements.

You will find a variety of trading products at your disposal at Welzone and the best part about it is that they belong to some of the world’s top financial markets and are highly profitable. Currency pairs, such as EUR/USD and GBP/USD, stocks like that of Apple and Amazon, indices like NASDAQ 100 and FTSE 100, commodities like gold, silver and crude oil and cryptocurrencies like Bitcoin, Litecoin and Ethereum can be found. This leaves you plenty of room to diversify your portfolio and keep your risks under control.

Check sign up requirements

You should take a look at the sign up requirements of a broker to see if you can meet them easily and open an account. These can be different for every platform and you should know what will be required of you beforehand in order to ensure you can get it done. Some platforms do make the process very complex and time consuming and many people end up quitting halfway because they are frustrated. This can often make people apprehensive, but Welzone will put you at ease right away.

Their sign up requirements are very simple and will not take you more than a couple of minutes. You only have to fill out a form on the Welzone website, which asks for very basic details. Your email address and password is needed for login purposes, first and last name and your country and a phone number are asked for. The final step involves agreeing to their Terms & Conditions and confirming that you are 18 or above.

Check account choices

After completing the sign up process, you will have to choose an account to open with the broker and this means knowing what kind of account choices they offer. This is to ensure there is an account to fulfill the needs of a trader with your kind of trading style, capital and risk appetite. As Welzone offers its services to people from all walks of life, they have come up with seven account choices to do so. Every account has a different minimum deposit requirement and offers unique features to make trading easy for their users.

The first account is known as Basic, which a deposit requirement of $250 and is for novices. Then comes Bronze for beginners, which asks for $3,500. The third account offered by Welzone is called Silver and it is for intermediate traders, asking for a deposit of $10,000. Gold and Platinum come after with each having $25,000 and $50,000 deposit requirements. The Pro account is for expert traders and needs $100,000, whereas the VIP Leverage has a minimum deposit of $250,000. But, you need an invitation to open this account and cannot just sign up for it directly.

As far as features are concerned, some of the ones provided by Welzone include premium customer support, risk-free trades, company financing, financial analyst, account manager, trading signals, order execution notifications, leveraged trading, pre-ordered premium contracts and a financial and investment plan.

Check investment plans

If you have a specific goal you want to achieve through financial trading as quickly as possible, then you need to see if the broker you have chosen is offering any investment plans or not. Not all brokers offer this option, so you should do your research before you make a commitment. These plans can come in handy because they are designed by financial experts, who know what instruments are best for trading to achieve a particular goal. You will find several investment plans available at Welzone and each of them is for a specific purpose.

There is Training for Beginners, Dream Plan, VIP Plan, Secondary Income Plan, Family Plan and also Retirement Plan. The expert and professional team at Welzone has designed these plans for their clients to help them in making the right investments that can enable them to achieve their goals quickly and in the most efficient manner. You can opt for the plan that’s in accordance with your requirements and get started.

The other features that you will find at Welzone include education programs for traders, depending on their skill level and background. They have also made sure that their clients can benefit from responsive and friendly customer support on their platform. Moreover, you will find that they have also prioritized the security of the information and money that’s entrusted to them by their clients and have implemented measures accordingly, making this broker a good and reliable choice in the long run.

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There Is An Important Role Of Silvergate In SBF’s Financial Crimes, Says A Class-Action Lawsuit

A class-action legal case proposes that a significant role has been played by Silvergate in the alleged scam that took place at FTX (the crypto exchange of Sam Bankman-Fried). The petitioners assert that the crypto bank has also been responsible for the potential fraud of the crypto exchange as the accounts were maintained by it for the bankrupt exchange and its sister trading company Alameda Research, assisting in the violation of fiduciary obligation.

FTX Investors File Class Action Legal Case against Silvergate and its CEO

The legal case, submitted in the US District Court for the Southern District of California, mentions that the bank had witnessed collaboration in the strategy of the crypto exchange to carry out a scam as a lot of accounts related to Alameda Research, FTX US, and FTX Ltd. – with which illegal activities were committed – had been held by it.

Bankman-Fried, the former CEO and founder of the crypto exchange, got arrested on the 12th of December under criminal charges dealing with conspiracy to wire fraud, wire fraud, conspiracy to securities fraud, securities fraud, as well as money laundering.

The plaintiffs of the case, including Joewy Gonzalez and the rest of the people who lost their funds in its debacle, have accused the bank of transacting the client deposits from FTX into Alameda Research-based bank accounts. The debacle of FTX has badly influenced the whole crypto market as a lot of other companies are getting affected over time.

Alan Lane, the chief executive officer of Silvergate, is experiencing the respective class-action legal battle at the California Southern District Court. As per the lawsuit, the transfer of funds from FTX to Alameda was a crucial cause at the back of the crypto entity’s crash. Consequently, both FTX and Alameda were compelled to announce bankruptcy. It is claimed by Gonzalez that – as he was an investor – FTX guaranteed them to securely store crypto assets.

The plaintiff additionally specified that the crypto exchange assured the investors to cash out or trade their assets for the rest of the assets. The legal case alleges Silvergate of furthering the investment scam of FTX. According to the case, the crypto bank should give back what the entity owes to the petitioner as well as the rest of the FTX investors.

US Senators Ask Questions from Silvergate Crypto Bank

Formerly this month, a senators group expressed their intention to gather additional information regarding Silvergate’s management of Alameda and FTX-related funds and individual wellbeing. To get the answers to their questions, they wrote down a letter to the bank. In that letter, they asked about the position of Silvergate Bank in the abrupt loss of several billion dollars during the FTX crash.

The senators who penned the document take into account Roger Marshall, Elizabeth Warren, and John Kennedy. They requested the CEO of the bank to disclose the particulars of the business contracts of the platform with the crypto exchange during their relationship.

It was noted in that letter that the organization’s engagement in the transaction of the FTX-based client funds to the fellow firm Alameda shows what seems to be a huge inefficiency of the bank. According to them, the bank remained unsuccessful in meeting its responsibility to oversee and report doubtful financial operations done by its consumers. Senator Warren proposed that Silvergate was seemingly the core player in the improper transactions.

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USA’s Democrats Return 1,000,000 USD Donations To SBF

Three well-known Democratic political organizations have declared their intention to repay the one million dollars Sam Bankman-Fried contributed for the 2020 and 2022 election cycles.

A closer look at the situation

The groups will reimburse former FTX clients who lost money due to the exchange’s failure. The claim comes just a few days after the ex-CEO was detained for allegedly embezzling money from clients and giving unlawful political contributions to politicians.

Bankman-Fried would be repaying 815,000 USD, according to a spokesman for the DNC (Democratic National Committee). Additionally, after consulting with the court, the party’s House and Senate campaign committees will set aside a total of 353,000 USD for refunds.

A wide variety of other political groups, many of which haven’t yet said how they’ll move forward after taking the FTX founder’s sizeable donations during the 2022’s election season, are put under further pressure as a result of the Democrat’s choice to return the cash.

They could have made this choice in order to separate themselves from the previous CEO’s wrongdoings.

According to reports, Bankman-Fried has already given almost $40 million to committees and groups that mostly favor democrats this year alone.

Additionally, the disgraced CEO stated that they donated funds to the Republican party, but in reality, these donations were made through charity organizations that don’t reveal the names of their contributors.

The problems with Sam Fried Bankman

After the company stopped allowing client withdrawals and subsequently filed for bankruptcy, the previous FTX CEO was accused of mismanaging consumers’ funds and sending payments to his subsidiary company, Alameda Research LLC.

According to a source, American prosecutors then started looking into the potential reasons why the disgraced CEO would have sought bankruptcy protection.

The study said that despite his admission of making mistakes while running the FTX exchange, Bankman-Fried has continuously denied abusing customers’ money.

The collapse of the FTX exchange led to several disclosures involving Bankman-Fried. Another report claims that Bankman-Fried acquired 300 million USD from the latest funding round of FTX.

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Flow Is At A 52-Week Low Without Any Indications Of A Reversal

The story of Flow is one of tragedy and bad fortune. The token is doing quite poorly, with not a single good week since its release on multiple exchanges about a year ago.

Even during a massive market-wide bull run, the token failed to gain any significant momentum. It is now trading under the $1 level making it hard to believe that it has any potential for a reversal.

Technical indicators paint a grim picture

3-week RSI is at the bottom and should indicate a strong swing in the opposite direction, but it won’t happen without a good reason for bulls to start rallying.

Layoffs at Drapper Labs tell us that the company is tightening its belt to get through the crypto “winter” and try to survive, which is not something inducing hope and passion.

Market volumes are also at historic lows, which usually indicates that the market is tired from the existing trend, but it is also an unjustified statement.

MACD did not show any potential for a rally since August. Even then, the bulls moved the price just a tiny bit.

After breaking through the $1.9 resistance level at the end of November, the price has been tanking and reached $0.8484 by the time of writing.

Even if the bulls defend successfully and try to reclaim the $1.15 support level, it won’t be enough to revitalize the community for another rally.

It seems that Flow has to give way to other blockchain networks that have a better chance of succeeding.

If the FLOW token doesn’t reclaim the $1 price, it will be hard to justify the existence of a network that fails to attract any attention from users and investors.

Pressed against the wall

The Flow network is facing strong competition. Cardano, Polygon, Ethereum, Solano, Polkadot, and many other networks are offering similar functionality or utility, meaning that Flow must have something unique and exciting to offer.

Unfortunately, they will have to come up with something during a very tough period for the whole crypto industry, as the worst may still be ahead.

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Bitnob Teams Up With CoinCorner To Develop Cross-border Transactions Between Africa And Europe

The current crypto winter seems to remain unsuccessful in pulling the industry back from making efforts for worldwide accessibility and adoption. For this purpose, Bitnob and CoinCorner are teaming up with each other. With this partnership, consumers throughout the world will be able to execute transfers across borders taking into account several fiat currencies.

Bitnob and CoinCorner Join Hands for Bitcoin Lightning Network’s Use for Fiat Transfers between Africa and EU

Specifically, for the funds’ transactions between Africa and Europe, there is a requirement for Western Union or other third-party facilitators which depend on centralized platforms. The respective transfers repeatedly have to cope with the processing time taken by multiple parties in advance of making an approval. They are also considered special for their huge cuts.

As estimated by the World Bank, as of 2020, the Sub-Saharan Africa-related remittances witnessed an upsurge of up to $40 billion annually while almost fifty percent of the cumulative amount was received by Nigeria alone. At present, the clients are permitted to transact their funds from Europe and UK with the use of the Bitcoin Lightning Network to search in countries within the African continent.

The application entitled Send Globally enables the transaction of Euros (EUR) or British pounds (GBP) to the currencies being utilized in Nigeria (NGN), Ghana (GHS), and Kenya (KES). The Bitcoin Lightning Network has the potential to automatically convert funds into Bitcoin. After that, it rapidly converts the respective funds into the targeted local currency as well as deposits them directly into some mobile account or a bank account belonging to the receiver.

CoinCorner’s chief executive officer, Danny Scott, stated that the huge opportunity is given by the remittance market and indicates the diverse utility of Bitcoin. As per the CEO, the primary asset’s borderless nature has always placed it as a beneficial instrument for transacting funds across the globe.

Nonetheless, he added, a lot of assistance would be provided with the Lightning Network as it would become convenient for the consumers to send Bitcoin rapidly in a very cost-effective manner. In the previous year, Statista issued data in which Nigeria was categorized among the top ten nations in terms of remittance payments.

Africa Becomes a Center for Growth in the World of Crypto

Apart from that, the World Bank brought to the front that a 14.1% proportion of worldwide remittances was credited to Sub-Saharan Africa. Nevertheless, approximately 80% of the countries in Africa limit the organizations having the capability to provide native banks the services related to remittance. This exclusivity develops hindrances for needy people in accessing finance.

Crypto assets have attracted a lot of attention across the countries in the African region. As a result, the respective area has been frequently discussed in the crypto world. Additionally, the entire zone is witnessing cases of practical use, giving rise to emerging economies. Especially in North Africa, the crypto market is making great progress.

Chainalysis issued a report in which it disclosed that the Middle East and North Africa (MENA) zone is the most rapidly advancing area throughout the globe. In September this year, the authorities in Nigeria contacted conferences with Binance crypto exchanges to likely establish an exceptional financial area that would support blockchain and crypto-related businesses operating within the area. Chainalysis also highlighted Ghana’s emergence in the crypto world.

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FAI Aviation Group Announces It Will Accept Crypto As Payment

A respected European aviation operator based in Germany is making an important decision as it will affect how people in Europe will use crypto.

Siegfried Axtmann, the founder of FAI Aviation Group, announced that the company would start accepting cryptocurrencies due to an unexpectedly high demand for this payment option among clients.

In his statement, Axtmann says that FAI is a business that looks into the future and tries to respond to client requests efficiently and quickly.

After conducting internal research and considering all possible business opportunities, the operator decided to allow crypto payments.

Europe is the biggest crypto-adoption region

While other regions are seeing massive increases in trading volumes and people using crypto in day-to-day operations, the adoption of cryptocurrencies on the corporate level is still the fastest in Europe.

Many companies are offering various ways to pay for their products and embrace crypto despite the ongoing “winter” and the absence of sound regulations (MiCA still needs work).

In business aviation, cryptocurrencies have become a very demanded payment option as many contemporary users of crypto prefer fast-paced transactions and security over traditional bank wires and other payment methods.

It is also important that business-class passengers can access their finances even when their banks are not working. Night and emergency flights are easier to pay for in BTC or ETH.

Axtmann states that the existing clientele will be appreciative of the option.

The company aims to secure the audience of crypto users and become the flight operator of choice for modern business-class travelers in Europe.

FAI expects a massive $126.8 million in revenue from ticket sales in 2022 and a 10% for the next year. The forecast does not account for crypto payments and the effect of the new service on sales volumes.

FAI is not your average flight operator

The company specializes in providing private jets and jet rental services and has unique flight routes that cater to the audience of wealthy clients.

The demand for cryptocurrency payments option is one of the most prevalent among these customers, who often prefer using their BTC reserves to pay for luxury services like flying a private jet.

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The International Community Of Financial Experts Will Focus On Crypto

The crypto industry is regulated regionally, with some nations making faster and more decisive moves compared to others.

The EU has developed some rules for members of the union, and some nations in Europe stepped up their policy-making game in 2022.

However, the global arena is still the wild west of cryptocurrencies, with many companies taking full advantage of unregulated international crypto trade.

The FTX debacle jumpstarted many processes on various scales. Countries decided to hastily announce how they would tackle the issue of intermediaries and bad actors in the industry.

Many international committees expressed their concern. However, FSB is planning to start acting now.

The Financial Stability Board will get to work

The FSB is planning to release a timeline for all international regulators to implement recommendations on a global scale.

Right now, the framework is being prepared with people at FSB saying that it is important to ensure that policymakers have all the necessary information before acting.

The current situation is such that even experts often do not make it clear how to approach certain digital assets.

Some countries are literally waiting for the world to generate something appropriate. For example, India has been collecting taxes on cryptocurrency income but did not yet implement any regulatory mechanisms for crypto trading.

The same can be said about other Asian and European nations that are holding back until there is more clarity.

The timeline will ensure that all countries and international agencies are working to achieve the same goal and implement sound regulations that would allow the crypto industry to grow without breaking the rules.

The FTX collapse triggered many good developments

Many people in the crypto community have been talking about the lack of oversight on the international level allowing companies like FTX to uncontrollably spread their operations globally.

The FSB is a highly important global institution and its attention to the industry is quite welcome. We need rules and transparency to ensure that something like FTX cannot happen again.

Hopefully, the timeline will be released soon so that investors can calm down and look forward to changes on a global scale!

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Tigersfm Review – Is Tigersfm Scam or a Legit Crypto Broker?

Tigersfm Review

Tigersfm is a broker with exceptional features and amazing services ready to assist traders in their trading journey. A platform with a wide selection of trading instruments is necessary if you want to participate in the online trading market and reap its full financial rewards.

When compared to other trading platforms of substandard quality, Tigersfm stands out as a highly dependable and efficient online trading platform. Continue reading this Tigersfm review to learn more about the platform’s environment and what it offers.

Customer Service

It’s crucial to discuss the customer service that Tigersfm provides before I move on to another feature of the company.

Offering highly skilled and dependable customer assistance is currently the largest challenge for any service provider. Even the most well-known brands must go through this, and they remain unable to resolve the issue.

Tigersfm has conquered the challenge by providing a team of customer service professionals who are extremely knowledgeable and skilled. The customer service staff of Tigersfm are quite knowledgeable and capable of providing answers to any of your questions and problems.

You may rely on Tigersfm’s customer service, regardless of whether your question is broad or particular. You can submit a request at any time through their website, and they will answer quickly.

Asset Index

Through Tigersfm, you may also use a number of trading instruments. You have access to a range of trading securities the moment you open an account with Tigersfm.

To your astonishment, their asset index includes a wide variety of different types of assets. Indices, stocks, commodities, and virtual currencies are some examples of these securities. These are the most actively traded instruments, despite the fact that the platform covers even more assets.

You can select the trading asset that, in your opinion, represents the best option for you among the rest. You very well may discover that one trading item is simpler for you to comprehend than the others.

Trading Platform

With years of combined expertise, the traders and professionals on the Tigersfm team are quite smart. Every investor using Tigersfm’s platform now has access to a wealth of trading resources and tools.

Tigersfm has created a variety of trading instruments and services for this goal. The provider’s adoption of Meta Trader 4, one of the most established and forward-thinking trading platforms available, will come as a surprise to you.

The trading platform has cutting-edge analytical and trading features. You may make better informed and precise selections by utilizing Meta Trader 4.

It boasts one of the easiest-to-use trading interfaces and extremely dependable trading tools. It is built in a way that reduces the hassles associated with trading, regardless of whether you use a specific online trading service or platform.

Historical report production, the reporting system, automated trading, trading signals, leveraged trading, narrow spreads, and many other cutting-edge trading capabilities are just a few of the characteristics that make it one of the most sophisticated trading platforms.

Transaction Security and Regulatory Compliance

You don’t need to be concerned about your financial and personal information falling into the hands of scammers or hackers when you share it with Tigersfm. It’s because Tigersfm uses an SSL Security System to secure them.

SSL Security System ensures that all personal and financial information is kept private and protected. The private information you don’t want others to have access to can be protected in this way by preventing access by anyone.

Performing trades in accordance with the rules is something that Tigersfm wants to make sure you are doing. It has implemented and carefully abides by KYC and AML procedures for this reason.

Last Thoughts

You must be sure that you have the necessary resources—time, money, and patience—to trade in the internet trading market. If you don’t have one of these, you must make sure that you don’t adopt internet transactions at all.

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How Has FTX Australia Managed To Get ASIC License?

The financial authorities are contemplating beginning discussions with the crypto industry while targeting to implement rules that would regulate the crypto exchanges in the coming year following the crash of FTX.com (one of the largest crypto trading companies across the globe), as per a report published in the Australian Financial Review.

FTX Australia’s Downfall Leads to Its License Cancelation and ASIC’s Declaration for New Regulation

Jim Chalmers (the spokesperson for the Australian Treasurer) remarked on this matter by saying that the developments point out a deficiency in transparency as well as customer protection in the world of crypto assets, compelling the authorities to take strict measures for enhancing regulatory agendas which would still promote innovation.

Caroline Bowler, the CEO of BTC Markets Pty (a crypto exchange based in Australia), stated that she appreciated the exclusive developments. She added that she was enthusiastic to say that the country’s authorities have taken these actions after a long while. Bowler is additionally a member of Blockchain Australia (the chief entity in Australia for the industry).

She is of the view that it is just unlucky that these developments are being witnessed after the collapse of FTX and a huge impact put on the investors living in the country. The funds of up to 30,000 investors from Australia were frozen by the crypto exchange that has now become bankrupt, according to KordaMentha Pty (a native investment advisory company that is representing the Australian consumers of FTX).

The Australian Securities and Investment Commission revoked the license of the Australian subsidiary of FTX – FTX Australia – as the FTX saga began to unfold. Chalmers’ spokesperson mentioned that they are keenly tracking the collapse of FTX, taking into account the volatility in the markets of crypto assets as well as the spillovers dealing with the financial markets.

The managing director of Kraken (a crypto exchange based in the United States), Jonathan Miller, disclosed that he expects the Australian Treasury to offer substantial input in the case of the industry’s regulation. As per him, the supermarket is witnessing a stringent regulatory regime and it has suffocated innovation.

He referred to the jurisdiction of Japan (where the exchange has secured a license to operate) saying that the crypto market is suffering there due to stringent regulation. Miller asserted that the Australian authorities should additionally focus on making adequate legislation while collaborating with the rest of the jurisdictions.

While discussing the situation of entities like FTX in the Bahamas, he asserted that uncertainty in the regulatory agendas of the other regulatory regimes becomes one reason for such incidents. In October last year, the Senate of Australia released a report covering the payment industry and digital assets. In that report, there were discussed 12 recommendations regarding the legislation as well as management of the emerging sector.

New Australian Government Leaves Token-Mapping Procedures

Nevertheless, the government changed in the country in May and just some of the recommendations were picked by the newly coming administration. They did not adopt a token-mapping procedure for the identification as well as the ranking of the crypto assets in line with their use cases and the primary blockchain technology.

Senator Andrew Bragg noted in his report that cryptography and blockchain-related concepts have considerable potential. As Bowler puts it, the blockchain industry of Australia has been majorly self-regulating, with native exchanges mainly avoiding offering high-yield products or lending because of their mounting risk.

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Can you use the Bond Market as a Forecasting Tool for Stocks?

The bond market is sometimes referred to as “smart money.” It gets this name because bond traders are usually the first to recognize certain elements of monetary or fiscal policy which may cause them to sell or buy bonds. Traditionally purchased or sold bonds are sovereign bonds issued by a country or region.

The bond market is driven mainly by future inflation expectations and economic growth. Its impact on the interest rate outlook is direct as bond prices tend to move in the opposite direction of the yield they pay. Bond investors are not always right, but they are often seen as less likely to speculate compared to stock or commodity investors.

There are many parts of the bond market. Each portion of sovereign bond market is part of the yield curve. Traders will refer to the short end, the belly, and the long end of the yield curve when referring to bonds.

Bond investors have a fairly strong track record of being able to predict the future of the economy. Several tools can be used to view how bond investors see how stocks may perform in the future.

How Do Bonds Work?

Bonds are obligations governments and corporations issue when they want to raise capital. When you purchase a bond, you essentially lend money to the issuer, who agrees to pay the loan back at specific intervals. You will receive the face value of the loan and an interest payment along the way. Some bonds provide interest semi-annually, but others pay once a year or even quarterly.

Bonds, as opposed to stocks, do not provide you with ownership equity. Rather, bonds provide you with a stream of income. Bond prices move in the opposite direction of the yield they produce. If the yield moves from 3% to 4%, the cost of that bond will likely move lower.

While the bond price will gyrate with market sentiment, if you purchase a bond and hold onto it until maturity, you will receive the entire face value plus interest in return. If you decide to sell the bond before maturity, you will receive the market rate, which might be more or less than the original face value you paid, plus any interest you received while owning the bond.

The coupon of a bond is the interest payment that you receive. The yield is the interest rate usually quoted on an annual basis. The face value of a bond is the amount of money you initially used to purchase the bond. The price of the bond is the cost of the bond.

Why Do Stock Investors Care About the Yield Curve?

Some people look at the bond market as smart money and evaluate the likely interest rates that will be in place, which could impact the value of stocks. In theory, stock values are based on discounted cash flows of the earnings produced by a company in the future.

The stock market is a forward-looking instrument where investors evaluate what could happen in the future and how that will impact the earnings of the companies they decide to buy and sell. If the future payments of a company change, the value of the company will also change. The concept is called the discounted net present value of a cash flow.

For example, if you believe that the company whose shares you are purchasing will make $100,000 in one year at the current interest rate of 3%, the present value of that $100,000 is $97,000, which discounts the value of the $100,000 by 3%. If the one-year interest rate increases to 4% from 3%, the discounted cash flows’ net present value will decline from $97,000 to $96,000.

If the discounted cash flows drop, the company’s net present value should also be lower. The upshot is that if interest rates increase and the cash flows that a company is likely to make in the future remain the same, the value of a company declines with rising interest rates. You should also know that yields form a significant part of forex trading, as they can impact currency valuations.

What is forex trading? Essentially forex trading is the buying of one currency using another, with a focus on using the price fluctuations between the two to make a potential profit. When it comes to bonds, sovereign yields are the spreads that can be the leading indicator for forex.

Another reason a stock price might decline if interest rates rise is that bonds are an alternative investment to dividend-paying stocks. A dividend is a portion of the profits that the company returns to its investors. Many companies pay dividends which are added to the returns you receive from owning the stock.

Stock investors looking for income-producing equities that could return dividends will compare the dividend they receive to the interest rate they might attain if they own a bond instead of a stock. If the interest rate on a bond rises relative to the dividend yield on a stock, an investor might consider purchasing a bond instead of a stock.

What is Dividend Yield?

When you purchase a stock and want to attain yield from dividends, you can determine the yield you will receive by calculating the dividend yield. To calculate the dividend yield, you want to add the dividends you would likely receive during a year.

You can do this by looking at past dividends to generate a figure. You can also estimate the dividends by multiplying the latest dividend by four, assuming that the company pays quarterly dividends.

To calculate the dividend yield, you would divide the price of the stock you are about to purchase by the total dividend you are likely to receive. For example, say company XYZ pays $1 per quarter, and the stock price is $100. The dividend yield you could receive is 4% ($4 / $100).

If you compare that 4% to a sovereign rate, like the one-year treasury rate, you can then determine if it’s worth risking capital to make 4%, compared to a risk-free rate of return from a one-year treasury rate.

For example, If the risk-free rate of holding a treasury is more than the dividend yield of a stock you are planning to purchase for dividend income, then you might decide that you could be better off purchasing the bond than the stock. Alternatively, your decision might be different if you also believe that the stock can appreciate over time.

What Does the Shape of the Yield Curve Say?

Another way the bond market impacts stock prices is through the shape of the yield curve. When investors talk about the shape of the yield curve, they refer to the interest rate paid for each maturity. You are comparing the yields for less than 1 year, 2 year, 5 year, 10 year, and 30 year yields. A normal yield curve has a shape where longer maturity yields are higher than short maturity yields.

The longer you lend your money to a government or corporation, the higher the yield you might want to receive. When a yield curve is inverted, short-term maturities have a higher yield than long-term maturities. Traders often look at the yield curve on a graph to evaluate the shape.

The shape of the curve can flatten where short-term yields and long-term yields converge. The shape of the yield curve can also steepen where short-term yields and long-term yields diverge. Several changes to a yield curve might give you a clue about what could occur with stocks.

Generally, when the yield curve is flattening, a central bank increases rates, and short-term rates rise faster than long-term rates. Usually, this occurs when inflation is growing, and the central bank wants to reduce growth. When short-term rates decline faster than long-term rates, a central bank usually reduces interest rates in an attempt to induce growth.

Yield curves are usually used as a bellwether for the future direction of growth and inflation. When a yield curve is steepening, rates usually fall, and this period is usually beneficial for stock prices as the discounted cash flows are rising. When a yield curve is flattening, rates are generally rising and could potentially push an economy into recession, reducing the cash flows of stocks.

The Bottom Line

The upshot is that the bond market is a gauge used to determine the value of stocks. Bonds are similar to loans in that you are lending your money to an issuer in return for an interest payment over time. When interest rates rise, the discounted cash flows of stocks decline.

When interest rates fall, discounted cash flows rise. Bonds are also seen as an alternative to stocks. Some investors will compare the dividend yield received from a stock to the risk-free rate received from a bond yield.

The bond market also has a yield curve. The shape of the yield curve and how it changes may tell you what type of environment the market is experiencing. If a curve is flattening, central banks usually raise rates, which is less beneficial for stocks. When a yield curve is steepening, a central bank generally reduces rates, which is better for stock prices.

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MultiBank Exchange Group Review – Is MultiBank Exchange Group Scam or a Legit Crypto Broker?

MultiBank Exchange Group Review

MultiBank Exchange Group was started in California in 2005. It has established offices in Los Angeles, Frankfurt, Sydney, Vienna, Cyprus, the UAE, and Madrid. It is regulated by several companies which have sharp guidelines and strict rules. It is also very well recognized globally and offers a large variety of instruments. Its headquarters are established in Australia, Hong Kong, the UAE, US, Hong Kong, and Cyprus.

Leverage

Leverage is a very important tool as it magnifies the profits you made from trading. MultiBank Exchange Group offers many different leverages that vary depending on the entity of the group. The leverage can get to 1:30 as determined by European regulations, and reach 1:500 for international entities. You should still check your area conditions before-hand so you are prepared.

Account types

MultiBank Exchange Group reportedly offers 3 types of account i.e. Standard account, Pro account, and ECN account. With the standard account you can trade without commission and an initial deposit of $50. The spreads here are from 1.5 pips. However, the spreads at the Pro account are smaller and the initial deposit is higher than that of Standard account.

The ECN is the best fit for raw spread trading as it uses Electronic Communication Network. This broker also offers a demo account which you can use to get used to the features and use strategies without risk. This is best for people who are just starting online trading. There is also an Islamic account which doesn’t use swaps as Muslims are not allowed to use interest when trading.

Instruments

MultiBank Exchange Group ensures the safety of your funds and allows you to choose between several instruments. You will get full transparency with quotes from 6ECNs, 12 Exchanges, and 10 top banks. The markets range score has been given a rating of 8 out of 10.

Fees

The ECN account has a balance of $5,000 which is properly maintained, along with a commission of $3 per lot. The overall costs are considered low. There is no deposit or withdrawal fee, but an inactivity fee is charged.

Deposit and withdrawals

The minimum deposit at MultiBank Exchange Group is $50, which is quite low as many other brokers have a minimum deposit of $500. This broker supports many currencies which include USD, GBP, EUR, CAD, and more. You can deposit funds through bank transfers, credit cards, or e-payments like Neteller.

MultiBank Exchange Group itself does not charge any fees for depositing or withdrawing funds, but you should check with your legal conditions and jurisdictions as they may have hidden charges. Mostly, withdrawal requests are confirmed within 1-2 business days.

Trading platforms

MultiBank Exchange Group offers MT4 and MT5 platforms. You can open your trading account on the web on any device. The platforms are also available on desktop. You can find all the important tools along with analysis features. The MT5 platform offers all of the features that the MT4 platform provides, along with scripting tools that have been developed further, better functionalities, etc.

Moreover, you can install the brokers’ mobile app to access your account on your phone. This will allow you to stay updated and trade even when you don’t have your laptop with you. You can also participate in the demo contest which gives you the opportunity to win big prizes without spending any money.

Customer support

MultiBank Exchange Group has a customer support team that is available 24 hours a day and 7 days a week. They can be reached through email, live chat, and even international support lines. Moreover, their service is available in more than 10 languages. The customer support here is rated 9 out of 10 as the team is fast and answers questions relevantly.

Conclusion

This is a broker that wants to provide clients around the globe with a good trading experience by providing plenty of useful features, variety of instruments, customer support, and different trading platforms to maximize your comfort. The different types of accounts make it easier for traders who are new to the industry. Since it covers so much of the globe, it is a reliable broker.

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Binance CEO Warns Crypto Users About the Hack Targeting the Crypto Space

Changpeng Zhao, the chief executive officer of Binance (the top crypto exchange), turned to his account on Twitter, cautioning about the latest type of hack influencing the crypto world. The hack is performed by a malicious actor, one with extensive knowledge regarding the industry of crypto assets. The CEO advised the consumers that they should not download files.

Changpeng Zhao Advises Consumers Not to Download Files as They Might Take Away Crypto Funds

Zhao then elaborated that the customers may get a file, which might be offered by some friend, that could compromise the system of the person receiving it. As per Binance CEO, the fried offering might have already been victimized by the respective Excel file. The name of the file is “exchange fee comparision.xls.” The respective file comprises a corrupt code, apart from the rest of the threats, and affects the crypto funds.

Zhao cited a blog post shared by Microsoft Security Threat Intelligence to discuss the targeted potential attacks against the entities related to crypto. In that blog post, the publishing company mentioned that crypto-related attacks have evolved with time and now they come in several forms such as info stealers’ use, fake applications, vulnerability exploitation, and fraud. According to the tech platform, the target of the attackers is to grab crypto funds.

Microsoft Security Threat Intelligence Unveils Another Crypto-Threatening File Type

The report disclosed that some unique tactics are also used by the attackers and one such attempt was disclosed. As per the report, a hacker – identified by the company as DEV-0139 (a provisional name specified for an anonymous cluster of some threat activity before the complete identification) – also initiated their malicious operations via chat groups based on Telegram.

After getting into the respective chat groups, the attacker targeted the crypto exchanges by disguising itself as the investment entities facilitating interaction between them and their VIP consumers. While doing this, the hacker specified one of the group members as their target. This took place in October 2022 when the bad actor requested the target to come to a separate group.

The hacker pretended to take feedback from the target on the fee structure that the exchanges normally use. While the attacker had substantial knowledge of the crypto industry, they shared an Excel file that was weaponized to fulfill their malicious purposes. In that file, the names of the well-known exchange companies were noted while “OKX Binance & Huobi VIP fee comparision.xls” was its name.

That file comprised many tables containing fee structures of diverse exchanges. To enhance their credibility, the attacker provided potentially very accurate data in that file. The weaponized file begins several operations. As the report puts it, it initiates a macro (a command or a series of commands which can be executed frequently according to the requirement. A macro, when it is created, records the keystrokes and mouse clicks.

The weaponized file, in the latest hack, obfuscates particular relevant codes as well as recovers some targeted data. The file places a separate Excel sheet into the system and opens that undetectably. Subsequently, a PNG file – which encompasses 3 executable files – is downloaded by the malicious Excel file. One of those executables is an encoded backdoor, one is an executable file’s malicious version, and one is an original Windows file.

The report moved on to mention that some other such file has also been found by the agency. That file also utilizes an analogous mechanism, but it is not contained in an Excel file. Rather, it comes in a package of MSI (Microsoft Software Installer) for an application of CryptoDashboardV2.

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These Three Factors Can Threaten Global Economic Collapse, According To Rich Dad Poor Dad Author

Robert Kiyosaki, the person who wrote the bestseller “Rich Dad Poor Dad,” has indicated aspects that can potentially pave the way toward an economic downfall in the future. Interestingly, with the mounting inflation as well as the elevating interest rates, the author has formerly presented a heart-rendering outlook, cautioning that an epic collapse is nearing. As per him, the economy is presently in the huge bubble ever witnessed in the entire history of the world.

Robert Kiyosaki Discusses 3 Aspects Which Can Dump the Global Economy

While appearing in The Rich Dad Radio Show’s new episode on the 7th of December 2022, Kiyosaki – together with Jim Rickards (an American lawyer and author) – investigated the 3 chief factors that can potentially dump the economy in the case of poor management. The most important among them was the breakdown of the system of the supply chain. As per Kiyosaki, this would take place soon.

Rickards emphasized the importance of the supply chain in the foundation of the economy, saying that it cannot be directed because of its extraordinary complexity. Rickards added that the supply chain is not something lying within the economy rather it is a wide and comprehensive array. As per Rickards, one can apply some method on the supply chain but it cannot be comprehended by anyone.

Secondly, Rickards and Kiyosaki simultaneously disclosed that the supply chain connects to the monetary budget that is presently experiencing significant inflation. Kiyosaki asserted that he went to King’s Point-based academy where they were taught about the supply chain as the major thing. As revealed by Kiyosaki, if the major factor is overlooked that the micro factors cannot be managed.

Apart from that, the two authors suggested that the coming time might witness a bad economic condition if the present inflation enhances and adds to a potential liquidity crisis. It was formerly reported that Rich Dad author cautioned against the soaring inflation as it would potentially eliminate almost half of the population of the United States. In this regard, Kiyosaki has supported the collection of valuable metals such as silver and gold.

‘Rich Dad’ Author Remains Bullish on BTC

They would potentially endure the collapse, he added. In addition to this, he was of the view that the crypto assets are also promising, particularly Bitcoin (BTC). In the end, the authors moved on to talk about political instability. As per them, this counts as an important hazard to the economy. They stressed that political instability can be fatal for the supply chain and could disrupt it.

While discussing this, Rickards focused on the ongoing clash between China and the United States for controlling the economy across the globe. In Rickards’ words, this is also a factor that would outline the future of the world’s economy. He mentioned that both countries are mutually making efforts to decouple each other.

This thing, Rickards added, would likely pave the way toward resilience. He posed a question over the likely supporting countries for both the competitors in the case of natural resources. Africa and South Asia were named by him in this respect. Nonetheless, he concluded the point by saying that resilience would potentially be witnessed generally.

Throughout the conversation, Rich Dad’s author maintained that the indications of an economic downfall are becoming more and more apparent. He noted that the bonds, fake, cash, and stock markets are under great stress.

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Gensler Seems To Be Disproving Crypto-Related Criticism

As criticism grows, Gensler’s perspective on cryptocurrencies appears distorted. Upon entering the U. S. Gary Gensler, the chairman of the SEC, has frequently been mentioned as the prohibition tool of electronic possessions and the related sector.

The Gensler has taken a very heavy-handed approach to the cryptocurrency market over the last 18 months, enforcing stringent policies and levying numerous fines to make players in the market conform to rules.

The reaction of Gensler

Despite taking an assertive stance on cryptocurrency regulation, Gensler has largely kept quiet about some of the major issues that advocates for digital assets have long been discussing.

The SEC, for instance, has repeatedly stated that the majority of crypto available today could be categorized as securities but has yet to specify which cryptocurrencies fall under this category. 

Gensler has previously emphasized the existence of numerous laws that offer sufficient understandability with regard to the prescript of the cryptocurrency marketplace.

In a late examination of the Bloomberg researchers, he stated that in order for intermediates like cryptocurrency exchanging and loaning services to provide investors with the protection they are entitled to, those intermediaries must follow SEC compliance regulations.

For registration mistakes, businesses like BlockFi could be hit with fines of up to $100 million.

The SEC-related crypto cases

Similar to this, the Securities and Exchange Commission registered an interior exchange legal case against the previous Coinbase workers in the summer of this year, verifying that a sum of 7 cryptocurrency possessions suggested by the exchanging service were unlisted safeties.

Additionally, the agency is allegedly looking into the different procedures used by Coinbase to choose the crypto assets it supplies to its cases, according to public documents.

Gensler is still the target of critics. Since Gensler assumed leadership of the SEC, criticism of his ostensibly self-asserting attack on the cryptocurrency ordinance has increased.

Brian Armstrong, the CEO of Coinbase, for instance, declared late last year that the Securities and Exchange Commission had prohibited this company from introducing brand-new functions, preventing clients from profiting from crypto assets.

Regarding this, Coinbase has received a notice from the SEC.

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Financial Services Firm Stripe Has Launched A Cash-to-Cryptocurrency Web3 Service

An Ireland-based financial services firm, Stripe, recently declared to introduce a project permitting fiat-to-crypto service to make payments convenient for businesses in the Web3 sector across several countries. The latest service offers a modifiable widget to be straightly integrated into a non-fungible token (NFT), a decentralized app (dApp), or a decentralized exchange (DEX).

Payment Firm Stripe Offers Cash-to-Crypto Facility to Bring More Clients On-Chain

As per the online payments firm, the respective widget is developed to serve seamless and rapid crypto buyouts on Web3 apps along with the provision of customized onboarding facilities. The exclusive feature additionally can deal with scams as well as know-your-customer (KYC) factors that could turn out to be irritating along with posing difficulties to several firms.

Currently, the most used method for on-ramp fiat-to-crypto is via the purchase of crypto assets on centralized exchanges such as Kraken, Binance, and Coinbase. After that, to become a part of decentralized finance, one transacts the crypto to a 3rd-party wallet. Being a well-known payment processing platform for the top Web2 firms like Walmart and Apple, the decision of Stripe to get deep into the space of cryptocurrency can assist DeFi significantly.

Specifically, at this time when enormous scrutiny is being exercised on the centralized exchanges, this step can attract more customers to DeFi. Stripe’s product manager, Jennifer Lee, wrote a blog post in this respect. As mentioned by the executive, it is very hard to take clients on-chain. In this way, Lee added, it is difficult to put sufficient crypto needed to deal with Web3 apps.

With this, Stripe – the company which organizes online purchases for associate industry players taking into account Walmart and Apple – might have assistance in advancing the payment services on blockchain to a further extent in its endeavor to have mainstream adoption. During the previous year, the platform made many efforts to carry out collaborations with the crypto firms that led to enabling purchases via digital assets in up to sixty-seven countries.

Diverse enterprises subsequently became able to conveniently transact payments in USDC to institutions and individuals living in different jurisdictions across the globe. In the meantime, in line with the new project of Stripe, Audius (a platform for decentralized music) occupied a position among the initial firms to utilize the exclusive feature. For this, it integrated the respective service into the system.

With this integration, the consumers had permission to purchase the firm’s local token AUDIO via using credit cards. Orca, the exchange company based on the Solana ecosystem, has additionally begun utilizing the widget developed by Stripe to let customers buy crypto assets like SOL and USDC with the utilization of their traditional currency.

Solana Dominates Projects Run by Stripe

It seems that the blockchain of Solana has dominated the debut of Stripe’s new project as eleven out of sixteen projects operated by it are constructed on the network. Nonetheless, SOL (the native crypto token of the blockchain) has not shown a positive response to this move as it remained unsuccessful to see a great upsurge in the case of trading price.

Stripe has also collaborated with Magic (a Solana-based platform for non-fungible tokens) and Argent (a wallet provider). With the partnership between Audius and Stripe, the fiat-to-crypto service would enable the consumers of the former to donate funds to their preferred artists in AUDIO tokens through credit cards.

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The New Reports Were Made Concerning FTX’s Ongoing Trial

According to reports, the US Department of Justice is looking into the FTX CEO’s withdrawal of funds from the country.

The unnamed whistleblower disclosed that DOJ representatives spoke with her court-appointed FTX supervisor about the volume of data required for additional investigation. 

The reaction of the former CEO

The CEO of the former famous crypto trader was unable to say that Sam Bankman-Fried (SBF) had previously managed to evade detection, despite the fact that many cryptocurrency scammers have in the past.

The U.S. government’s ongoing inquiries into the FTX fraud are being conducted in parallel. 

Days prior to FTX’s bankruptcy, the state department of law regulation was told that looking into a fraud that SBF may have stolen money from.

As for the recent news release, Bloomberg, the state’s research goal is to determine whether SBF was involved in the erroneous transfer of FTX finance to the Bahama Islands when it declared bankruptcy on November 1. 

Also disclosed by the anonymous whistleblower was a meeting between DOJ representatives and FTX’s court-scheduled supervisor to discourse the range of info required for additional research.

The Department of Jurisdiction likewise intends to look into any unauthorized transfers of SBF’s FTX funds to Alameda Research. 

The media overview of the situation

The scammer continues to participate in Twitter discussions from an unidentified location despite not having been charged because of the SBF’s close ties to US politics.

SBF charged Binance Chief executive officer CZ on December 9 with untruthful actions and abandoning a last-minute trading agreement that might have saved the crypto trader. 

According to the Binance CEO, Sam Bankman-Fried was “upset” when the trading platform withdrew its funds. This statement promoted a media reaction from the previous CEO of FTX.

The pop star Taylor Swift is considered to have made some investments in the FTX’s funds, as stated in the recent report from several prominent crypt-related news reporters and newspapers, after a failed one-hundred-million-dollars deal.

Inquiries about a sponsorship deal between Taylor and FTX were ongoing. She now serves as one of the prominent representations of abandoned cryptocurrency traders.

Due to financial constraints, the music creator immediately refused to make the agreement. However, FTX’s failure put an end to that.

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What Is Stagflation In Terms Of Crypto

Stagflation is a comparatively uncommon state linked to economic stagnancy. Inflation that comes along with economic development contrasts with stagnation.

Price grows as an increase in economic output is when inflation takes place. When the state does not expand quickly enough to satisfy people’s needs, economic stagnation results.

High inflation and underdevelopment of the economy are both signs of stagnation. Since these circumstances are typically contradictory, the term “stagflation” might be understood as an opposition. 

The consequences of such state

Stagflation occurs when the economy expands so slowly that unemployment levels go up. Prices are also rising, as if businesses were selling all they had. The decrease in demand for goods and services could lead to an increase in unemployment.

Bitcoin can be viewed with the aforesaid understanding as a conventional stock, which has always acted as a fence against rising prices. In fact, Bitcoin can, of course, be a good shelter from inflation, though it is not so simple to understand at first sight.

First of all, Bitcoin is a redistributed, worldwide payment method that is not governed by any centralized body. Because the state has no influence on it, it is largely resistant to possible corruptness and monetary system influences. 

The number of Bitcoins in operation is also on a declining trend, halving every four years, making it a rare commodity with a maximum of 21 million coins in circulation. It is also referred to as electronic gold today because of its rarity and finiteness. 

Risky asset prices typically decrease as interest rates rise

Much is dependent on whether and if Bitcoin influences the stock market’s strong correlation with the cryptocurrency market. Taking institutional approvals into account, this process could take some time.

Adoption of Bitcoin and other cryptocurrencies could be fueled by stagnation. If the economy we are creating through debt turns out to be unsustainable, this might occur.

If BTC is perceived as an alternative or hedging to an imperfect finance-related framework, it could see higher costs and acceptance during times of uncertainty.

When public confidence in Bitcoin surpasses public confidence in the current economic system, a tipping point may be reached.

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