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    Technology

    Crypto Pirates

    Crypto Pirates YouTube Channel is home to a variety of content, including daily videos covering the newest cryptocurrency news, opinions, rumours, sentiments, interviews and information. We undertake the legwork of locating the day’s most significant issues and studying numerous articles so that you may still acquire the knowledge you need without having to do it all yourself.
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    Latest Episodes:
    2023 cryptocurrency trading tactics Jan 25, 2023

    Over the past few years, cryptocurrency appears to have taken the world by storm, with online trading experiencing a sharp rise in user popularity. You might have been tempted to purchase cryptocurrency for yourself if you've been following everything that's been happening in the vast world of cryptocurrencies.

    The first thing you should do if that is the case is decide on the trading strategy you'll use. Contrary to popular belief, there are a lot of options available when it comes to trading strategies. Let's look at some of the best ones that might position you for success in the cryptocurrency trading industry!

    Bitcoin day trading

    Trading cryptocurrency in a day entails taking a position in the market and closing it out the same day. The cryptocurrency market is popular for its turbulence and swift price changes, which attracts day traders.

    That being said, any day trader entering the market will require a strong strategy. When day trading in cryptocurrencies, one can use one of two strategies. These are the cryptocurrency scalping strategy and the cryptocurrency arbitrage strategy.

    The goal of the day trader using the scaling strategy is to profit from an increase in trading volume. This entails making a small profit from the trade and exiting trades a few minutes after entering them. A scalper trades with the intention of making small, regular profits. In order to find small opportunities, they "scalp" the market. Because the profit is typically quite small when using this strategy, they will typically require a lot of capital to be profitable.

    Undoubtedly, one of the most used trading methods today is arbitrage. It entails buying a coin on one platform, then selling it using the price differential between the two platforms on another. The arbitrage strategy, like scalping, typically produces small profits, so the larger the order, the more profit is made.

    Bitcoin range trading

    Another trading strategy that involves buying and selling cryptocurrencies within a specific price range is called "crypto range trading." Range trading's only objective is to profit greatly from the cryptocurrency market's volatility by buying low and selling high within a predetermined range.

    Range trading is predicated on the idea that a cryptocurrency's price will fluctuate over time within a specific range. By analysing historical price information and identifying significant support and resistance levels, this range can be determined.

    In many trading situations, the cryptocurrency will stay within a given range for a considerable amount of time. To increase their chances of making a profit, major players will deliberately and methodically manipulate coin prices both up and down. Because it can be challenging to spot these patterns, range traders should pay close attention to overbought and oversold areas. When a stock is overbought, buyers have more than sufficiently satisfied their needs, and the stock is most likely to sell. When it is oversold, the opposite is true.

    Traders can find these zones with the aid of charting indicators found in any dependable charting programme. Stochastic Oscillator and Relative Strength Index are two common indicators used for this purpose.

    crypto average dollar cost (DCA)

    Regardless of the price, a trader buys a set dollar amount of a cryptocurrency at set intervals when using the dollar-cost averaging trading strategy in the world of cryptocurrencies. By spreading out the purchase of the cryptocurrency over time, this tactic aims to lessen the impact of volatility.

    When trading cryptocurrency, one of the main advantages of using dollar cost averaging is that it prevents traders from basing decisions on short-term price fluctuations. Investors can avoid the urge to buy at a high price and sell at a low price by making a fixed investment at regular intervals.

    trading cryptocurrencies quickly (HFT)

    A trader employing the HFT strategy seeks to profit from slight price variations and liquidity discrepancies in the cryptocurrency market.

    In order to execute trades at extremely high speeds that are well beyond the capacity of a human, crypto HFT makes use of sophisticated algorithms and cutting-edge technology, including trading bots. In just a few seconds, this highly automated trading strategy can execute thousands of trades.

    As long as the trading bot is connected to the exchange, it continuously executes trades while monitoring the cryptocurrency market. Based on the trading logic that has already been provided, it executes these trades.

    Bitcoin technical analysis

    Technical analysis of cryptocurrencies is a method for assessing them by examining their historical price and trading data. The goal of technical analysis is to spot market patterns and trends so that traders can make well-informed trades. This technical analysis trading strategy is predicated on the idea that prices in the past have some bearing on prices in the future.

    One of the fundamental tools in this strategy is charting. In order to do this, historical price data must be plotted on a chart, and the patterns and trends that result must then be examined. To forecast future price movements, technical analysts look for patterns like head and shoulders, trend lines, and support and resistance levels.

    Conclusion

    When investing in cryptocurrencies, a variety of trading strategies can be used. There are actually too many to cover in this article's time and space. The above-discussed techniques are some of the most well-liked and well-known and are perfect for both novices and experts.

    Before making any decisions that could affect your trading, it's important to fully understand the advantages and risks associated with each of these strategies. In the end, having a thorough understanding of the market, using a clearly defined strategy, and always exercising caution are essential for success in cryptocurrency trading.


    Why Is Crypto So Filled With Scams? Oct 06, 2022

    To the outside world, cryptocurrency is that part of the internet where you can lose money to scams and rugpulls.

    It's where some YouTuber tells you about a token called PAMP or SAFEMOON that is about to PUMP 1000x and YOU NEED TO BUY RIGHT NOW TO GET ON THE ROCKETSHIP.

    Isn't that what crypto is?

    Bankless readers are aware that this is not the case.

    Bankless sees cryptocurrency as a land of opportunity, a new frontier, a digital world built on free and open-source software that allows us to break free from the Wall Street and Silicon Valley institutions that have enslaved us.

    So, why do most people believe cryptocurrency is full of scams? And why do people keep coming to learn about it if it's full of scams?

    What piques their interest? Or is cryptocurrency just a big con?

    Today's article introduces my "Concentric Circles of the Crypto Industry" model, which explains why so many people outside of the crypto industry believe it is a scam.

    This mental model can help crypto-newcomers navigate the Dark Forest of crypto with a little more ease, and with a little more understanding of the types of people you find in crypto — which ones to pay attention to, and which ones to avoid.

    There are four concentric circles.

    A set of four concentric circles is my model for who makes up the crypto industry.

    The Core Devs are in the centre, with the rest of the world on the outside and the Crypto Believers and Grifters in the centre.

    * The Core Developers.

    * Crypto enthusiasts.

    * The swindlers.

    * The remainder of the world.

    Core Developers

    Let's begin in the middle. The Core Devs are the architects and philosophers who are constructing this industry from the ground up. They have a thorough understanding of the world's current problems, how cryptography and blockchain technology can help to solve them, and the radical implications for the future. They understand the philosophy, code, and moral good that this technology has the potential to bring to the world.

    This is what we mean by "crypto values."

    In this circle, you'll find Satoshi Nakomoto, the Bitcoin's anonymous creator, who birthed the Bitcoin blockchain before slowly disappearing into the internet because he knew Bitcoin would be better without a leader.

    Vitalik Buterin, the creator of Ethereum, is also present. Vitalik is a digital monk, a master of cryptography, philosophy, math, and, of course, crypto-economics. Vitalik aspires to create public goods and social systems that benefit the entire world. Even though he is extremely wealthy, he has been known to sleep in hostels and live out of a single backpack in order to avoid consuming more resources than he requires.

    He is a crypto-monk for the modern era.

    Working as a Core Dev can be a thankless task. Building open-source software is frequently under-appreciated and compensated in proportion to the value it adds to the world.

    Every day, Bitcoin Core developers work to improve Bitcoin. Every week, Ethereum core developers meet in public to discuss what to work on next and what society needs from the foundations they're laying.

    These people are here because they believe in the mission, see a brighter future ahead, and want to help build it.

    The Core Devs are the purists at the heart of the cryptocurrency universe, and their leadership creates the ultimate gravitational pull. These are the revolutionaries with good hearts and sound minds, and they are fighting for a cryptographic-power future... and they're all huge nerds in the best way possible.

    We are here to help them... and they are here to help us.

    Believers in cryptocurrency

    The Crypto Believers are the next to speak up.

    These are the users of crypto power. These people believe in the same future that the Core Devs do, and they live on the foundations that the Core Devs have laid.

    However, this circle is not limited to users! Application developers, DAO members, and businesses are all creating interwoven layers of products and services based on these new protocols.

    Ethereum is a protocol around which we all organise.

    Apps like Uniswap, Aave, and Maker are built with smart contracts on the Ethereum app layer. Ethereum is used to organise DAOs such as BanklessDAO, PleasrDAO, and even Constitution DAO. Companies such as venture funds, news agencies, and media companies, such as Bankless, also organise around Ethereum.

    This circle is populated by locals rather than tourists.

    These are crypto citizens who are constructing structures in this new frontier, testing products in their early stages, gradually becoming bankless by managing their money and property on crypto rails, and creating new digital identities for themselves. These settlers have come to live in an open and free metaverse that has been built with open-source software and the open-source ethos.

    These are people like Rune Christensen, who saw the need for a decentralised dollar and developed the MakerDAO vision... Before DAOs even existed! Now, billions of DAI exist to escape the mismanagement of their government's currency.

    Or Hayden Adams, who built Uniswap, a public and free asset exchange system, entirely on his own after learning to code and with the help of a $10,000 grant from the Ethereum Foundation.

    The values built into the base level protocols by the Core Devs are expressed in the applications built on top of them at this layer of cryptography.

    Then there are people like Cami Russo, who lived in Argentina and saw firsthand how the Argentine Peso's hyperinflation created demand for crypto-related products. DAI, the crypto-native stablecoin, has seen widespread adoption in Argentina because it is the only tool available to Argentines to avoid 50-100% inflation rates.

    Cami studied journalism and founded the media publication The Defiant after becoming crypto-pilled.

    Another of my favourite crypto believers is Anthony Sassano. He creates a video in which he informs the world about what has occurred in the Ethereum ecosystem in the last 24 hours. Every single day.

    This is the layer of cryptocurrency that broadcasts the industry's progress. Because they are focused on building the future, protocol core developers and application builders are not very good at marketing themselves. To accomplish this, the crypto industry relies on the surrounding community.

    And this surrounding community exists only because we are all here for the same reasons: the belief that cryptocurrency is here to help build a better and more free world... and that it is a necessary step for humanity's future progress.

    This is the world of cryptocurrency that many people do not see or understand.

    And one of the main reasons for this is that the Crypto Grifters keep it separate from the rest of the world.

    Crypto swindlers

    There is an obstacle course between crypto believers and the rest of the world...

    an asteroid belt of Crypto Grifters who make it difficult to hear the signal coming from the crypto industry's true spearhead

    Grifters are loud, self-aggrandizing, and arrogant.

    They use polarising tactics and styles that have proven to be effective in politics. Crypto swindlers aren't stupid; they know there's a lot of money to be made on the crypto frontier... and they're here to take advantage of it. To save money. To take shortcuts and the easy way out.

    They will sell you fool's gold while stealing your money.

    Crypto swindlers are the reason crypto has a bad reputation.

    They're louder and more bombastic than regular cryptocurrency users. They promote themselves more than they develop technology. They frequently don't care about the technology they are developing; all they care about is making money from it, regardless of how sustainable or ethical it is.

    Crypto Grifters purposefully create malicious products in order to catch the next inexperienced crypto noob.

    They set up paid Telegram channels to share "alpha," but instead just dump on you. They create complicated DeFi projects that, if you fall into their traps, merely transfer money from your pocket to theirs.

    Most Grifters appear in bull markets and imitate what's popular at the time. In 2017, they created fake ICOs, and in 2021, they created low-effort NFT projects with Fiver.

    Wherever there's a profit to be made, the Grifters smell it and rush in, ready to grift.

    Crypto swindlers share a few characteristics:

    An egotistical personality... someone who is large, bombastic, and can be a bully at times.

    A small, but highly engaging and manic community forms around these people, a kind of personality cult. They recite the messages, say the lines, and shill a token. They are the classic mix of humans and bots that we've come to recognise in the world of modern social media.

    A product or system that is fundamentally unsustainable... even if it does not appear to be so at the time. A gleaming new crypto product that simply does not make sense under the hood... and eventually has a date with fate.

    Mashinsky, Alex

    Alex Mashinsky founded and ran Celsius, a custodial borrowing and lending service. A centralised company that accepted customers' crypto-assets and paid them high interest rates for their deposits. This is a typical business, and it is known as a bank. And there are many legitimate crypto products and services that do this.

    Mashinsky, on the other hand, carried the DeFi banner and boasted about how DeFi will bring down the Banks. But he did build a bank! Celsius accepted customer deposits, used completely reckless and leveraged risky trading strategies, and gambled away other people's money.

    Sesta, Daniel

    The Wonderland ecosystem was built by Daniele Sesta. An army of Pepe Frog accounts trailed Sesta around the internet, swarming him wherever he went. You name it: cryptocurrency Twitter, YouTube comments, livestream chat boxes...

    They invaded and infested the digital spaces where crypto-people spend their time, as well as our minds, because they were so goddamn loud. This strategy has been used before, both inside and outside of crypto, but when money is at stake, these internet armies can become deafening.

    Anyway, Wonderland collapsed when people realised that an unbacked stablecoin is just an obfuscated ponzi scheme, and also when one of the project's anonymous co-founders was revealed to be Michael Patryn, a convicted money launderer and co-founder of the QuadringaCX exchange, the one with the mysterious death of the founder, after the exchange became insolvent.

    Kwon Do

    Then there was Do Kwon, Terra's eccentric and aggressive founder. The largest capital destruction event in crypto history, with $50 billion in capital destroyed.

    The Terra ecosystem abruptly lost all of its incoming money flows, revealing itself to be an unsustainable structure...

    ...which, in retrospect, appears to be a massive Ponzi scheme.

    Do Kwon, like Sesta, had a massive army of self-described "Lunatics." Ryan and I were extremely sceptical of the Terra Luna project, and when we voiced our concerns and dissatisfaction, we were harassed on Twitter by these raving lunatics.

    Do Kwon's actions made this possible. As Terra pumped, Do Kwon became louder and more aggressive on Twitter, rallying his followers.

    When Galaxy CEO Mike Novogratz got a Terra Luna tattoo on his arm, Ryan responded on Twitter, "This makes me question everything I know about crypto," to which Do Kwon snarkily replied, "Don't worry, it wasn't much."

    And there are a lot of other swindlers out there.

    Richard Heart — f#@k him.

    BitBoy is the Alex Jones of cryptocurrency.

    Under this narrative, Ripple Labs — which markets XRP currency as a "inter-bank exchange currency" — funds itself by dumping XRP on retail investors.

    The list of deceptions continues.

    Do we have to put up with the swindlers?

    Both yes and no.

    We can't directly stop the swindlers. That's the deal we make when we prioritise permission-lessness above all else.

    Access for all is a core value that cannot be compromised.

    Crypto, like the internet, does not require permission to use... It's a money and finance public utility that anyone with an internet connection can use. And as the financial world of DeFi grows and improves organically as more people use it, these public utilities become more useful over time.

    Unfortunately, the same property of permission lessness makes it extremely difficult to stop grifters from grifting. Permission-less financial innovation enables us — you and me — to break free from the financial prisons erected by banks and Wall Street, but it also makes it difficult to prevent others from making unethical money.

    We can't stop them, but we don't have to live with them.

    We combat them through education. As an industry, we must improve our ability to reach the masses before the swindlers do. Massive marketing campaigns that use grandiose and bombastic tactics are difficult to compete with. Understanding what makes this industry tick is more difficult than simply listening to some charismatic individual telling you to buy their token.

    The good news is that most people today have a basic instinct to avoid spam emails and viruses on the internet.

    Crypto will eventually be no different.

    Bankless is here to confront the swindlers and ensure that the good being built here is communicated to the rest of the world, so that the rest of the world knows that Crypto is here to set you free... and that we despise swindlers just as much as you do.

    We're Going West

    Since the dawn of cryptocurrency, the Grifters have always managed to find the crypto noobs' ears and eyes and sell them snake oil before the crypto believers could.

    They're difficult to fight because they're aggressive and hungry, and they have to grift better than their fellow swindlers... because only the best swindlers triumph.

    In crypto, we use the metaphor of 'Going West' at Bankless. Going into the unknown... into the frontier. In search of new opportunities and new horizons. There's money to be made out here, and we all want to get rich while we work together to develop this new land.

    And as you travel westward, you may come across bandits. Highwaymen. Traps. Thugs. They rob you and make your life difficult.

    However, if you know how to identify the signals, you can avoid them.

    The best way to conquer the crypto frontier is to work together. As a whole. That is why we created the Bankless Nation, a collective group of westward-moving individuals who have all hitched their waggons together, so that we can teach each other the tricks and tips to making big in crypto while avoiding the traps and scammers.

    Cryptocurrency is risky. You may lose what you have invested.

    We're not for everyone, but we're going west.

    This is the limit. It's not for everyone, but we're glad you're along for the ride.


    Kim Kardashian has been fined $1.25 million for promoting cryptocurrency on social media. Could Other A-Listers Be Charged? Oct 04, 2022

    Kim Kardashian agreed to pay a massive fine on Monday for failing to disclose that she was paid to promote the EthereumMax cryptocurrency. Kardashian agreed to pay the Securities and Exchange Commission (SEC) $1.26 million in penalties to settle charges that she illegally promoted crypto tokens on her Instagram account, inviting her 328 million followers to invest.

    "This is not financial advice," Kardashian wrote on Instagram in June 2021. "However, I'd like to share what my friends just told me about the EthereumMax token!"

    Among the hashtags used was "#ad," but the post also included a link to EthereumMax's website, which detailed how to purchase the digital tokens.

    Kardashian faces a massive fine

    On Monday, the SEC announced the charges against the social media sensation. According to the SEC's order, Kardashian failed to disclose that she was paid $250,000 to publish a post about EMAX tokens on her Instagram account. She agreed to settle the charges, pay $1.26 million in penalties, disgorgement, and interest, and cooperate with the ongoing investigation of the Commission.

    "This case serves as a reminder that just because celebrities or influencers endorse investment opportunities, including crypto asset securities, that doesn't mean those investment products are right for all investors," SEC Chair Gary Gensler said. "We encourage investors to consider the potential risks and opportunities of an investment in light of their own financial goals."

    Furthermore, Gensler stated that the case should serve as a reminder to celebrities and others that the law requires them to disclose when and how much they are paid to promote investing in securities to the public.

    Some experts believe Kardashian may have tried to argue that the "#ad" was sufficient to satisfy the SEC's rules, but the SEC noted in its filing against the influencer that the Securities Act explicitly requires the disclosure of the amount received for the publicity of a security.

    Kardashian made no mention of being paid $250,000 to promote the EMAX tokens in her post.

    "Kim Kardashian isn't the only celebrity to get into cryptocurrency trouble," explained Pund-IT technology analyst Charles King via email.

    "In 2018, boxer Floyd Mayweather and music producer DJ Khaled paid $600,000 and $150,000 in SEC fines for failing to disclose fees they were paid for endorsing Centra Tech, respectively," King continued.

    Social Media Investment Tips

    The SEC actually encourages investors to conduct their own research and discourages anyone from relying on paid celebrity endorsements. Nonetheless, many young investors today continue to look to social media, particularly influencers on the platforms, for sound financial advice. According to a 2021 CreditCards.com survey, approximately 52% of millennials and Generation Z received financial advice from social media platforms such as Facebook and Instagram, and found the advice to be trustworthy.

    The SEC may target other influencers and celebrities who have failed to disclose that they were paid to promote cryptocurrency, and Kardashian may be the first, but not the last, to face SEC scrutiny and fines.

    "Given her high public profile, Kim Kardashian's $1.26M fine could be evidence that the SEC is also targeting crypto-promoting celebrities like Tom Brady and Matt Damon," he added. "While the SEC fine is unlikely to have a significant financial impact on Kardashian, investors are reportedly suing her and Mayweather for failing to disclose the payments they received from EthereumMax."

    Since Kardashian's promotion, the EMAX cryptocurrency has lost 95% of its value. As a result, even if many of the celebrities who promoted crypto on social media do not face SEC scrutiny, it is likely that few will continue to promote digital currencies in the future.

    "Those are risks that sensible people, including celebrities, would prefer to avoid," King said, adding, "especially given Kardashian's relatively paltry $250k for her endorsement."


    Crypto Struggles Due to Fed Fears What is in store for this week? Aug 29, 2022

    Last week, cryptocurrency sentiment reverted to "extreme fear" territory after Federal Reserve Chair Jerome Powell stated that more significant rate hikes were likely. According to CoinMarketCap data, the total crypto market cap fell below $1 trillion once more, and the leading crypto Bitcoin (BTC) fell below $20,000 for the first time. As crypto investors wonder if this winter will ever end, let's look at some developments that may have an impact on crypto prices in the coming week...

    #cryptopirates #crypto #cryptocurrency #cryptonews #cryptocurrencies #cryptotrading #cryptocurrencynews #cryptomining #cryptoexchange #cryptoexchange #cryptonewstoday

    Web: cryptopirates.com.au
    Email: info@cryptopirates.com.au
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    BlockFi: https://blockfi.com/?ref=cc86230a
    Borrow cash, and buy or sell crypto. There are no hidden fees, no minimum balances, and no reason to wait.

    CoinSport: https://www.coinspot.com.au?affiliate=RJPZPV
    Buy, Sell & Swap Cryptocurrency
    The easiest way to buy Bitcoin (BTC) and a whole world of other digital currencies.


    Why the Crypto Winter May Not Be as Bad as It Seems Aug 03, 2022

    The crypto bear market has arrived, and all-time highs appear to be fading sweet dreams. Bitcoin (BTC) is down more than 70% from its highs, Ethereum (ETH) is down nearly 80%, and virtually every other coin is down...

    #cryptopirates #crypto #cryptocurrency #cryptonews #cryptocurrencies #cryptotrading #cryptocurrencynews #cryptomining #cryptoexchange #cryptoexchange #cryptonewstoday

    Web: cryptopirates.com.au
    Email: info@cryptopirates.com.au
    Telegram: @CryptoPiratesAustralia

    PayPal Donation: https://www.paypal.com/paypalme/cryptopirates

    BlockFi: https://blockfi.com/?ref=cc86230a
    Borrow cash, and buy or sell crypto. There are no hidden fees, no minimum balances, and no reason to wait.

    CoinSport: https://www.coinspot.com.au?affiliate=RJPZPV
    Buy, Sell & Swap Cryptocurrency
    The easiest way to buy Bitcoin (BTC) and a whole world of other digital currencies.


    Businesses Must Accept Crypto Payments or Risk Being Left Behind Jul 21, 2022

    Crypto payments are coming, whether your company is ready or not, according to Bethany Turner.

    The Internet era has proven one thing: businesses that do not adapt to modern technology will fail...

    #cryptopirates #crypto #cryptocurrency #cryptonews #cryptocurrencies #cryptotrading #cryptocurrencynews #cryptomining #cryptoexchange #cryptoexchange #cryptonewstoday

    Web: cryptopirates.com.au
    Email: info@cryptopirates.com.au
    Telegram: @CryptoPiratesAustralia

    PayPal Donation: https://www.paypal.com/paypalme/cryptopirates

    BlockFi: https://blockfi.com/?ref=cc86230a
    Borrow cash, and buy or sell crypto. There are no hidden fees, no minimum balances, and no reason to wait.

    CoinSport: https://www.coinspot.com.au?affiliate=RJPZPV
    Buy, Sell & Swap Cryptocurrency
    The easiest way to buy Bitcoin (BTC) and a whole world of other digital currencies.


    Here’s what the market expects to see for bitcoin to bottom — and it could mean another 30% drop Jul 15, 2022

    According to industry players, an improvement in macroeconomic factors, a specific trading pattern, and a further shakeout of companies and projects could be the key ingredients required for bitcoin and the broader crypto market to bottom...

    #cryptopirates #crypto #cryptocurrency #cryptonews #cryptocurrencies #cryptotrading #cryptocurrencynews #cryptomining #cryptoexchange #cryptoexchange #cryptonewstoday

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    Borrow cash, and buy or sell crypto. There are no hidden fees, no minimum balances, and no reason to wait.

    CoinSport: https://www.coinspot.com.au?affiliate=RJPZPV
    Buy, Sell & Swap Cryptocurrency
    The easiest way to buy Bitcoin (BTC) and a whole world of other digital currencies.


    Celsius, a cryptocurrency lender, declares bankruptcy Jul 14, 2022

    As the damaging slump in cryptocurrencies continues, cryptocurrency lender Celsius has filed for bankruptcy a month after freezing customer withdrawals...

    #cryptopirates #crypto #cryptocurrency #cryptonews #cryptocurrencies #cryptotrading #cryptocurrencynews #cryptomining #cryptoexchange #cryptoexchange #cryptonewstoday

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    CoinSport: https://www.coinspot.com.au?affiliate=RJPZPV
    Buy, Sell & Swap Cryptocurrency
    The easiest way to buy Bitcoin (BTC) and a whole world of other digital currencies.


    Do you require a cryptocurrency policy for donations? Jul 12, 2022

    There are numerous considerations for charities considering accepting cryptocurrency donations, including what a crypto policy should look like...

    #cryptopirates #crypto #cryptocurrency #cryptonews #cryptocurrencies #cryptotrading #cryptocurrencynews #cryptomining #cryptoexchange #cryptoexchange #cryptonewstoday

    Web: cryptopirates.com.au
    Email: info@cryptopirates.com.au
    Telegram: @CryptoPiratesAustralia

    PayPal Donation: https://www.paypal.com/paypalme/cryptopirates

    BlockFi: https://blockfi.com/?ref=cc86230a
    Borrow cash, and buy or sell crypto. There are no hidden fees, no minimum balances, and no reason to wait.

    CoinSport: https://www.coinspot.com.au?affiliate=RJPZPV
    Buy, Sell & Swap Cryptocurrency
    The easiest way to buy Bitcoin (BTC) and a whole world of other digital currencies.


    Why Do Two Oceans Meet, Blockchain and Metaverse Jul 10, 2022

    Let us first define Metaverse, which is a platform that enables distributed and decentralised processing. This may sound boring, but humans require money for everything, and the essence of the financial system is credit. When people gather in one place, someone always tries to create value and exchange it through credit. The metaverse is a place where people gather for a short period of time, and those who create value must be rewarded. There must be a system in the metaverse to ensure that those who create value and wealth can make money, consume, and entertain...

    #cryptopirates #crypto #cryptocurrency #cryptonews #cryptocurrencies #cryptotrading #cryptocurrencynews #cryptomining #cryptoexchange #cryptoexchange #cryptonewstoday

    Web: cryptopirates.com.au
    Email: info@cryptopirates.com.au
    Telegram: @CryptoPiratesAustralia

    PayPal Donation: https://www.paypal.com/paypalme/cryptopirates

    BlockFi: https://blockfi.com/?ref=cc86230a
    Borrow cash, and buy or sell crypto. There are no hidden fees, no minimum balances, and no reason to wait.

    CoinSport: https://www.coinspot.com.au?affiliate=RJPZPV
    Buy, Sell & Swap Cryptocurrency
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    Russia plays with the idea of launching a cryptocurrency exchange run by (MOEX) Jul 09, 2022

    The Russian government is considering establishing a cryptocurrency exchange to allow residents and local businesses to transact with digital assets, according to Anatoly Aksakov, Chairman of the Financial Market Committee, in a recent statement to the Russian Parliament...

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    Is the crypto winter over, and how will EU regulations function? Jul 08, 2022

    The European Union is moving forwards with a new set of rules to govern cryptoassets and related markets.

    There's a lot going on in the crypto space right now, from regulation to potential recovery. Simon Peters, an eToro market analyst and crypto expert, provides his weekly take on events...

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    How NFT Gameplay Innovation Will Turn the Crypto Season Around Jul 01, 2022

    The developers of the upcoming blockchain MMORPG Cradles: Origin of Species, DRepublic, discuss how the bear market's recovery will rely on true blockchain innovations as speculative hype fades against a broadly negative market outlook for the crypto industry...

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    As North Korea ramps up its weapons tests, a cryptocurrency crash threatens its stolen funds Jun 30, 2022

    SEOUL – The cryptocurrency market crash has wiped out millions of dollars in funds stolen by North Korean hackers, according to four digital investigators, threatening a key source of funding for the sanctions-hit country and its weapons programmes...

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    Forget Crypto Winter: Blockchain Applications in the Real World Are Still Incredible Jun 28, 2022

    The crypto winter is only temporary. Blockchain applications are rapidly expanding, according to Johannes Schweifer, CEO and Co-Founder of CoreLedger...

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    GTA 6 cryptocurrency rumours are circulating: here’s what we know so far Jun 27, 2022

    For quite some time, the combination of blockchain, cryptocurrency, and gaming has been making waves. Gaming tokens like Decentraland (MANA) and Axie Infinity dominated the second half of 2021. Even though this year has not been kind to cryptos, including gaming tokens, a slew of exciting developments have kept negative forces at bay...

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    The cryptocurrency market crashed. Here’s How Industry Leaders Can Improve Things Jun 24, 2022

    The recent cryptocurrency crash provides an opportunity for companies in the decentralised finance space to reconsider how the entire system operates. And it gives us a chance to rebuild it, says RAILGUN Chief Scientist Kieran Mesquita.

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    Rising Crypto Liquidation Risks Drive DeFi to Excess Jun 23, 2022

    The record-breaking rout in cryptocurrencies has forced a slew of decentralised-finance applications and their communities to race to protect themselves from a wave of liquidations – sometimes by taking unprecedented measures...

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    ”Bitcoin is failing as an electronic cash system,” according to Edward Snowden Jun 11, 2022

    During a virtual discussion at Consensus 2022 today, Edward Snowden emphasised the importance of privacy in relation to Bitcoin and cryptocurrency...

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    The total crypto market cap falls below $1.2 trillion, but data show that traders are less likely to sell Jun 11, 2022

    An improving Tether discount in Asian markets, as well as positive futures premiums for BTC and ETH, indicate that a minor recovery is underway...

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    Washington descended on a cryptocurrency conference to discuss regulation: a federal stablecoins law could be passed this year Jun 11, 2022

    Following the TerraUSD stablecoin collapse, U.S. lawmakers are ready to roll up their sleeves to pass a clear federal stablecoin law following the widely received Lummis-Gillibrand crypto bill...

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    With new partnerships, Mastercard expands its presence in NFTs Jun 11, 2022

    Mastercard enters the NFT space with several strategic partners to enable NFT purchases without crypto ownership...

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    Farfetch, a luxury fashion retailer, will accept cryptocurrency payments Jun 11, 2022

    Farfetch, a British-Portuguese luxury fashion retailer, has announced that it will soon accept crypto assets as part of a partnership with the German crypto platform Lunu. Farfetch will accept seven different crypto assets, including bitcoin, ethereum, and binance coin, and the feature will first be available to a select group of clients before being made available to the general public...

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    Stablecoins are paving the way for widespread cryptocurrency adoption, from June 2–8 Jun 11, 2022

    Checkout.com, FTX, PayPal, and Crypto.com are among the companies making headlines in the world of cryptocurrency and blockchain...

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    Mike Novogratz predicts that the next crypto cycle will start in October Jun 11, 2022

    As a mark of humility, Mike Novogratz plans to wear his Luna tattoo into the next crypto super-cycle, which he expects to occur in Q4...

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    How the cryptocurrency exchange Binance became a haven for hackers, fraudsters, and drug traffickers Jun 07, 2022

    In September 2020, a North Korean hacking group known as Lazarus broke into a small Slovakian crypto exchange and stole $5.4 million in virtual currency. It was one of a series of cyber heists carried out by Lazarus that Washington claimed were intended to fund North Korea's nuclear weapons programme...

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    ’Relief’ as bitcoin roars back to life in the midst of a cryptocurrency rally May 31, 2022

    The cryptocurrency winter may be coming to an end after bitcoin accomplished the seemingly impossible in the midst of a nightmare month...

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    The Unassailable Use Case of Crypto: Assisting Human Rights Activists May 27, 2022

    The Oslo Freedom Forum featured a lot of bitcoin and stablecoin talk, emphasising that this technology is a tool for political dissidents, not just a get-rich-quick scheme...

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    Cryptocurrency has died. Crypto is here to stay May 27, 2022

    The chasm between crypto evangelists and sceptics may never have been wider.

    Andreessen Horowitz, the most prominent Silicon Valley venture capital firm, made a $4.5 billion bet on cryptocurrencies on Wednesday, citing "a massive wave of world-class talent" that has entered the industry in the last year...

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    How Stable Are Stablecoins During a Crypto Crash? May 18, 2022

    Stablecoins are supposed to have consistent value, but one popular one recently collapsed. Here's how it went down.

    Stablecoins are very important in the cryptocurrency market. These tokens, whose value is typically pegged to an underlying currency, are intended to facilitate the exchange of digital assets of value in the crypto economy and aid in the further adoption of crypto activities...

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    The Terra LUNA cryptocurrency crash has sparked a discussion about ’true’ decentralisation May 16, 2022

    The crash of Terra's LUNA token, which resulted in the collapse of the entire crypto market, has re-ignited the debate over decentralisation...

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    Experts warn that the crypto market will continue to fall May 16, 2022

    Investors are bracing for a prolonged decline in cryptocurrency prices, as higher interest rates and the collapse of a widely used stablecoin last week shook investor confidence in the fast-growing but largely unregulated ecosystem..

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    Stablecoins crash drags down the crypto market, and Bitcoin has its most volatile week in years May 14, 2022

    Bitcoin has dropped nearly 18% in the last seven days, while Ether has dropped more than 25%. A sharp drop in stablecoins has made crypto markets vulnerable in recent days...

    For several years, compliance has been a major concern in the cryptocurrency industry, as trading firms and those who use digital currencies to make and receive payments have come under increasing scrutiny as a potential channel for money laundering and sanction evasion...

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    The panic in the cryptocurrency market has drawn the attention of Washington regulators May 14, 2022

    Stock, bond, and commodity investors are all nervous right now. However, in the cryptocurrency market, unease has turned into panic, attracting the attention of Washington regulators tasked with maintaining financial stability...

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    Will Ethereum be able to recover from the cryptocurrency crash? May 13, 2022

    This week has seen a significant drop in the value of all cryptocurrencies, and things are not looking good.

    On Thursday, investors are considering Ethereum (ETH) price predictions as they deal with the ongoing crypto crash...

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    Will Ethereum be able to recover from the cryptocurrency crash? May 13, 2022

    This week has seen a significant drop in the value of all cryptocurrencies, and things are not looking good.

    On Thursday, investors are considering Ethereum (ETH) price predictions as they deal with the ongoing crypto crash...

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    Compliance with cryptocurrency sanctions and anti-money laundering regulations is difficult, but not impossible May 11, 2022

    For several years, compliance has been a major concern in the cryptocurrency industry, as trading firms and those who use digital currencies to make and receive payments have come under increasing scrutiny as a potential channel for money laundering and sanction evasion...

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    Coinbase’s stock is approaching an all-time low as crypto trading declines May 11, 2022

    Reports on cryptocurrency trading apps In the first quarter of 2022, 2.2 million fewer people traded than at the end of 2021...

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    El Salvador has purchased ’the dip’ in the amount of 500 BTC May 09, 2022

    El Salvador, also known as the Bitcoin nation, recently announced, via its President, Nayib Bukele, that it had purchased 500 BTC at an average price of $30,744 per coin. "El Salvador just bought the dip!" tweeted the President. 500 coins at a USD average price of $30,744 for #Bitcoin."...

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    Melting down: Billionaire crypto investor sees more ‘damage to be done’ as rout deepens May 09, 2022

    Bitcoin extended losses, dropping below $US31,000 for the first time since July 2021, putting its decline from a November record high to more than 50 per cent amid a global flight from riskier investments...

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    Why are billions pouring into DeFi and crypto? ’The actual technology hasn’t caught up to the valuations yet.’ May 09, 2022

    Investors have had a turbulent 2022, and cryptocurrency is no exception.

    According to industry tracker DefiLlama, as of Monday afternoon, approximately $163.4 billion was tied up in DeFi applications that involve crypto loans, sending crypto, or investing crypto, a 35% decrease from more than $252 billion in December 2021. According to DefiLlama, which collects and aggregates data on decentralised finance apps, the amount of money in DeFi has dropped by more than 12.5 percent in the last 24 hours alone...

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    What exactly is Crypto Coding? and Can You Write Your Own Code? May 08, 2022

    The technological world is fast-paced and ever-changing. In fact, many schools are teaching kids how to code as early as elementary school so that they have the necessary technological skills. Blockchain technology has been one of the most exciting developments in recent years. Cryptocurrency developers can use coding to create their own unique cryptocurrencies or to build on top of pre-existing ones...

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    How to Send and Receive Cryptocurrency Safely May 04, 2022

    Blockchain technology has provided the world with a plethora of alternatives, such as digital currencies. Using cryptocurrencies has grown in popularity over the last decade as a result of the increased number of websites that began accepting them as payment, particularly when celebrities began openly discussing them...

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    As more people buy cryptocurrency, the demand for more ways to spend it grows May 04, 2022

    Look at how people are using cryptocurrency to get a sense of how the cryptocurrency industry as a whole is doing these days...

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    Scammers on Tinder are promising nudes but draining your wallet May 04, 2022

    Tinder crypto scammers use emotional manipulation and outright deception to gain access to the wallets of Tinder singles. Here's how to stay out of trouble...

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    Crypto.com (CRO) falls 30% as staking rewards are reduced May 03, 2022

    The world's sixth-largest exchange has shot itself in the foot by announcing significant reductions in rewards for its Visa cardholders, causing the CRO price to plummet...

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    CoinMarketCap classifies Ripple’s XRP as an impostor cryptocurrency May 01, 2022

    The ongoing legal battle between the SEC and Ripple revolves around the question of whether XRP is a cryptocurrency or not. The case was initiated by the commission in 2020, and it was recently extended until November 15...

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    As Singapore continues its crypto crackdown, Three Arrows Capital relocates its headquarters to Dubai May 01, 2022

    Three Arrows Capital, a blockchain venture capital firm and hedge fund manager, has announced that they will relocate their headquarters. As the regulatory environment shifts against the nascent market, the firm is the latest to express interest in leaving Singapore...

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    Users of cryptocurrency share their experiences, ranging from victory to disappointment Apr 29, 2022

    Crypto users are anonymously sharing mysterious stories about their investment encounters.

    This month, the Coinfessions Twitter account was launched.

    It has amassed a diverse collection of real-life crypto stories ranging from the triumphant to the tragic...

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    Genesis, a cryptocurrency brokerage, reports a drop in lending in the first quarter as the market continues to fall Apr 29, 2022

    Bitcoin is playing a smaller role in institutional portfolios as the market sell-off continues, according to the company.

    Genesis, a cryptocurrency brokerage for institutional investors, reported $44.3 billion in originated digital asset-backed loans during the first quarter, down from $50 billion the previous quarter...

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    According to the NPCC, police are losing cybercrime experts to the cryptocurrency industry Apr 29, 2022

    Crypto-industry salaries are just too tempting for cybersecurity professionals to continue in law enforcement.

    The National Police Chiefs' Council (NPCC) of the United Kingdom claims that cybercrime professionals are being lost at a pace three to four times that of the rest of police. The crypto business looks to be largely to blame for this, with larger firms snatching these people with considerably higher compensation offers...

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    Why is ApeCoin (APE) gaining popularity? Apr 29, 2022

    Non-fungible tokens (NFT) and metaverse-focused assets have recently gained popularity in a thriving crypto market. Projects such as ApeCoin (APE) have also gotten a lot of interest. In the last 24 hours, the APE token's price jumped by more than 2%, while its volume increased by 237 percent...

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    Ethereum on-chain data suggests that the price of ETH may fall further Apr 27, 2022

    Analyzing Ether's (ETH) current worth chart paints a bearish picture, which is largely justified by the 11% drop over the previous month, but different traditional finance property experienced more severe price corrections during the same time period. The Invesco China Know-how ETF (CQQ) is down 31%, while the Russell 2000 is down 8%...

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    Understanding the Differences Between Resistance and Support for Successful Crypto Trading Apr 24, 2022

    Understanding support and resistance principles will help you enhance your crypto trading performance...

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    Crypto millionaires are building their own tax-free paradises in Central America. The locals are dissatisfied Apr 23, 2022

    While the country calls on President Joe Biden to raise taxes on the wealthy, cryptocurrency millionaires are establishing their own tax-free havens in Central America...

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    The End of ETH or the Right Time to Buy? Apr 19, 2022

    Ethereum, one of many largest tokens in cryptocurrency, has seen one other vital drop in worth right this moment, because the crypto market experiences a widespread discount of share costs. The cryptocurrency market has at all times been risky; shifting consistently from moment-to-moment. Might the market’s largest gamers shift round as nicely? As the worth of ETH continues to fall, does it imply the top for the coin, or an important alternative to leap in earlier than an inevitable resurgence?...

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    5 crypto innovations that the financial industry is keeping an eye on Apr 18, 2022

    Conversations around cryptocurrencies are becoming more heated as digital assets become an essential component of the national economy...

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    Beware, cryptocurrency holders with Apple devices: this iCloud issue jeopardises your MetaMask holdings Apr 18, 2022

    Hide your NFTs and your cryptocurrency! This iCloud flaw is horrifying.

    MetaMask, the Web 3.0 platform that powers the eponymous, ultra-popular crypto wallet with over 21 million monthly active users, reported an iCloud vulnerability that pricked the ears of digital-asset investors who own Apple devices...

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    Top 5 Most Dangerous DeFi Risks for the Crypto Community Apr 14, 2022

    The Different Kinds of DeFi Risks

    One of the most significant breakthroughs in recent years has been the decentralised finance sector. Every day, new interesting ventures emerge, drawing a large number of investors. At the same time, due to the novelty of many services and investment dangers, DeFi remains a rather isolated portion of the cryptocurrency industry...

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    What exactly are crypto loans? Apr 14, 2022

    If you have bitcoin, a crypto loan can enable you get funds quickly and without a credit check. However, these loans pose a huge risk if the value of the cryptocurrency falls...

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    The Crypto Market is tense: What Can Investors Do to Protect Their Money? Apr 12, 2022

    When opposed to established financial systems, the crypto market has always been seen as a decentralised and autonomous option. Recent events, however, have demonstrated that even digital assets are not immune to geopolitical shifts. A number of crypto behemoths have already decided to accept recently announced sanctions against Russian users, and no one knows what will happen next. Let's look at the major methods investors may safeguard their assets in this jittery market...

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    How Crypto’s Influence in Ukraine’s Resistance Extends Beyond Money Apr 08, 2022

    Alona Shevchenko was in London on March 3rd, feeling increasingly concerned as she spoke to friends in her native nation of Ukraine. Russian bombardment had triggered a fire at the Zaporizhzhia nuclear power plant, Europe's largest of its kind, which was not distant from her parents' home...

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    The CEO of Binance discusses why the phrase ”crypto is anonymous” is deceptive Apr 07, 2022

    Cryptocurrencies have come under scrutiny after countries around the world began placing sanctions on Russia for its invasion of Ukraine. The risk is that Russian banks and individuals whose assets have been blocked may employ digital money to avoid sanctions...

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    What Twitter Really Has in Store for Crypto Apr 05, 2022

    According to the creators of Twitter Crypto, NFT profile pictures and crypto tipping are just the beginning.

    YOU MAY HAVE HEARD OF CRYPTOCURRENCY. Twitter, where accounts have Bored Apes as profile pictures, posts are rife with talk of tokens, blockchains, and buying the Bitcoin dip, and Elon Musk is revered...

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    The crypto Robin Hood: a 30-year-old billionaire who wishes to give away his riches Apr 05, 2022

    The Economic Club of New York has welcomed kings, prime ministers, and presidents, as well as Jeff Bezos of Amazon.com and Jamie Dimon of JPMorgan Chase. The opinions of central bankers at the 115-year-old organisation have influenced markets. Sam Bankman-Fried, a 30-year-old bitcoin billionaire, is likely the first to play a computer game while making a presentation...

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    From July, over 170 South Australian service stations will accept cryptocurrency payments Apr 04, 2022

    Australians will be able to pay with cryptocurrency at South Australian convenience stores and gas stations by the middle of this year, as private enterprises warily embrace digital currency payment capabilities...

    #CryptoPirates #Cryptocurrency #CryptoNews

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    Celebrity tokens: Indicators of increased crypto use in Indonesia Apr 04, 2022

    Some of Indonesia's most well-known celebrities have aided in fanning the flames of interest in digital assets.

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    Everything You Should Know About BlackRock Crypto Mar 29, 2022

    A significant piece of fantastic news recently arrived in the bitcoin realm. The world's largest financial management, BlackRock, announced intentions to allow its clients to invest in cryptocurrency. It also intends to develop a credit facility via which consumers can obtain loans with crypto assets as collateral. There is currently no set date for the launch of this service. However, the very fact that BlackRock wishes to enter the cryptocurrency market has far-reaching consequences. Let's go through all you need to know about BlackRock's cryptocurrency offerings...

    #cryptopirates #cryptocurrency #cryptonews #dubai #dubaicryptoexpo #novabattles #bestcryptogame2022 #nft #metaverse #ethereum #thailand #malaysia

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    The 2022 Dubai Crypto Expo was rocked by NoVa battles Mar 29, 2022

    RELEASE TO THE PUBLIC The NoVa Battles team, lead by CEO Lucian, got the coveted title of "Best Crypto Game 2022" in Dubai during the Dubai Crypto Expo, which took place between March 16 and 17, 2022.

    The NoVa Battles ecosystem is meant to compensate its community members for their time and work in a variety of ways. In addition to their own NFTs and Crypto Token, the NoVa Battle system will incorporate more blockchain technology, such as digital real estate, subdivisions of the game ecosystem, and Metaverse, complete player customisation of virtual assets, and so on, creating a truly unique and decentralised virtual environment. All of these factors, and more, contributed to its achievement as the prise winner in the category of "The Best Crypto Game" at the Crypto Expo Dubai 2022.

    NoVa Battles is a game that takes place in the city of NoVa.

    Nova Battles is a community-based play-to-earn (P2E) mobile multiplayer online arena game powered by Ethereum blockchain. Players that prefer comparable genres will find it easy to get started and make money while playing the game.

    It has been through multiple design and testing cycles since its inception in 2019 to guarantee that it satisfies the needs of end-users. Nova Battles, with its emphasis on community participation, invites other gaming communities to join its ecosystem, so expanding the habitat for socialising, playing, and earning. "The People's Game" is a suitable name because it depicts the purpose.

    To participate in any game format in Nova Battles, participants must first select one of several free Champions. These Champions are NFTs who serve as avatars in-game.

    These Champions distinguish themselves in battle through a range of talents and attributes. Support Champions help the primary champion during a fight.

    Players receive Battle Rewards for their actions during each conflict. The Nova Battles ecology focuses around its NFTs, which are known as Nova Soul. During fighting, the players use up their NFTs. They can be found in a number of locations, including the Marketplace and during a pre-sale.

    Dubai Crypto Expo 2022 was rocked by NoVa battles

    The Dubai Crypto Expo 2022, presented by HQMENA, was a premier crypto exhibition and conference that featured over 100 crypto firms, including NoVa Battles.

    The Dubai Cryptocurrency Expo, being a world-class show in the sector, is always sure to draw a lot of interest. This year there were no exclusions. More than 10,000 traders and investors, as well as over 100 crypto enterprises and 60 speakers from over 30 countries, attended the Crypto Expo Dubai 2022.

    The event's three components each included an Expo, a Forum, and an Awards segment. Lucian, the CEO of NoVa Battles, spoke at the conference as well. His speech revealed that the practise and investigation of NoVa Battles in the bitcoin business had received widespread recognition.

    NoVa Battles had its own booth at the exhibition where attendees could learn more about the company's many initiatives and products. The project team also provided online activities for anyone who were unable to attend the event. You can join the official community to learn more about NoVa Battles' Expo participation.

    Prospects for Today and Tomorrow

    NoVa Battles, which had over 1,000 people sign up for its whitelist at the expo, was judged the best crypto game and won the prise. After launching its token on March 25th, they are on track to launch their public beta in the middle of April, followed by the ICO in the first week of April 2022. The most conservative estimate is that the game will be released in mid-May.

    Lastly,

    The 2022 Dubai Crypto Expo was a big success for NoVa Battles, and for the first time, Nova Battles has surpassed the competition as the premier Metaverse gaming platform.

    NoVa Battles, an Ethereum-based game, envisions a large community of gamers working together to create a gaming Metaverse that benefits everyone. The company's initial coin offering (ICO) will soon have a public beta version available. It's worth noting that Nova Battles has a significant presence in Southeast Asian countries like as Singapore (which will host the next crypto expo), Thailand, and Malaysia, all of which are important markets for the company.

    The Nova Battles game stimulates players by bringing more attention to the gaming industry and developing a network run entirely by the gamers. There are also a number of events and airdrops to take advantage of, so keep an eye out. Please see www.novabattles.com for further information.

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    Three Reasons Why Crypto Is Exploding Mar 29, 2022

    The bulls have reclaimed control of the situation. The following are the primary elements that have contributed to the rally.

    On March 19, Luke Lango informed members of his Crypto Investor Network that Bitcoin (BTC) had completed two pennant formations: short-term negative and long-term bullish. Luke predicted that "Bitcoin is about to either make a massive move higher or lower" before April, depending on which option triumphed.

    The breakout did, indeed, arrive yesterday... And the bulls have regained control! While stock indexes have been stagnant for about a week, Bitcoin (BTC) has broken above $47,000, while Ethereum (ETH) is on track to reach $3,500, a level not seen since January. The following are the top stories that have been recognised as important contributions to the rally.

    Terra Purchasing Massive Amounts of Bitcoin for Stablecoin Reserves

    Terra (LUNA), whose UST stablecoin has skyrocketed in popularity throughout the crypto winter, has been on a bitcoin buying spree to ensure that it remains so. Terra intends to gather $10 billion in "digital gold" as reserves to back up its stablecoin before it is finished.

    Terra's most recent purchase (published by Blockworks this morning) totals $133.6 million, and that's just one batch; Terra is supposed to buy roughly $125 million in BTC per day! "These daily purchases might possibly extend for months if Terra does indeed intend to attain to $10 billion in BTC reserves," writes George Kaloudis in CoinDesk's Crypto Long & Short newsletter yesterday.

    "If successful, UST might become a dollar stablecoin backed by a digital asset that is totally auditable, transparent, and decentralised." "That is significant," Kaloudis concludes. "You won't have to rely on Terra founder Do Kwon or an accounting company that will qualify its claims with weasel phrases. On the blockchain, you'll be able to see for yourself."

    Even before the news broke, Terra had risen to the second-best smart-contract platform in terms of total value locked (TVL), according to Messari. At $110.5 billion, Ethereum still reigned supreme, while Terra's $20.3 billion considerably surpasses the rest of the pack:

    Why has Terra accelerated so quickly? To generate big yields, many people are staking or employing debt protocols on the Terra network.

    Anchor Protocol (ANC), the largest, pays 19.5 percent on your UST! The Anchor community just passed a new "semi-dynamic earn rate" policy to preserve its position – and its users.

    Previously, Anchor's yield was set at 19.5 percent...a position that some thought was unsustainable. Now, depending on whether the yield reserves have risen or declined that month, your yield might climb (or fall) by 1.5 percent each month, "contributing to Anchor's long-term stability." Even 18 percent is a fantastic yield – and it may potentially drive more users to Terra because to its emphasis on safety and stability.

    Fear of Missing Out on the Ethereum Merger

    Meanwhile, cryptocurrency observers such as Ilan Solot of Tagus Capital claim that "FOMO (fear of missing out) is kicking for ETH pre-merge."

    The Ethereum Foundation has pledged for years that it will transition ETH from a proof-of-work to a proof-of-stake consensus method. As we can see on the Bitcoin network, the current setup necessitates a significant amount of electrical power. Furthermore, it contributes to substantially higher "gas fees" and slower performance for Ethereum compared to its proof-of-stake counterparts.

    However, Ethereum's Beacon Chain, which has begun to integrate proof-of-stake, is set to combine with the main Ethereum network in June. At that point, proof-of-work is obsolete, and Ethereum can provide a user experience similar to, say, Solana (SOL).

    Several of the largest crypto breakouts have been ERC-20 tokens on Ethereum, while the Merge rumour mill churns:

    * Gnosis (GNO), a prediction market specialist, has gained 60% in the last seven days.

    * Holo (HOT), a cryptocurrency that connects blockchain apps to the rest of the internet: 50% increase

    * Convex Finance (CVX), a staking platform with 6%+ yields: +50%

    * Loopring (LRC), the company that will host GameStop's (GME) NFT marketplace: +40%

    * Chiliz (CHZ), which offers sports fan tokens: +38%

    MiCA Relaunches Without a Bitcoin Ban

    In terms of proof-of-work: Bitcoin is unpopular with environmentalists due to its high energy consumption. I've previously stated that Bitcoin has the potential to lead the charge towards clean energy. But, for the time being, cynicism is understandable.

    Fortunately for BTC investors, crypto rules have advanced again again without outlawing proof-of-work.

    While the EU was debating its Markets in Crypto Assets (MiCA) bill, bitcoin detractors attempted to outright ban proof-of-work — but that proposal was thrown down in committee on March 14.

    The "trilogue" comprising the European Parliament, the Council of the EU (heads of state), and the European Commission will then debate MiCA (executive branch).

    Meanwhile, there were "concerns that other EU leaders in support of limiting the use of proof-of-work cryptocurrencies will make one more attempt," according to CoinDesk, but they've now missed their deadline. The environment will continue to be a key source of worry... However, regulators are at least willing to study the choices.

    Of course, countries outside of the EU are warming to – and even embracing cryptocurrency. After all, it's a New Digital World, and politicians will have to adapt to it sooner or later.

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    Bitcoin’s Stealth Rally Recovers All of the Year’s Losses Mar 27, 2022

    Bitcoin's stealth rally over the last two weeks has not only pushed it past a key level of $45,000, but it has also put the world's largest cryptocurrency back in the black for the year.

    The cryptocurrency, which has gained more than 15% since March 11, was trading at around $46,600 as of 7:10 p.m. New York time, breaking out of what had been a narrow $35,000 to $45,000 range since early this year. With these new gains, the coin is now up about 0.6 percent on the year.

    According to Matt Maley, chief market strategist at Miller Tabak + Co., if Bitcoin continues to break through "in a meaningful way," it will gain a lot of upside momentum.

    The coin has been stuck in a rut as the Federal Reserve and other central banks withdraw some of the stimulus measures enacted in response to the pandemic downturn. As a result, there is less money available to invest in riskier assets such as cryptocurrency. Furthermore, digital currencies have come under scrutiny, with speculation circulating that they could be used to circumvent Russian sanctions, though many analysts refute that claim.

    Nonetheless, Bitcoin has increased in value this month, coinciding with broader gains in US stocks.

    "As we test the top of the 2022 trading range for the fifth time," said Antoni Trenchev, co-founder and managing partner at Nexo, "this is another one of these Bitcoin moments when the narrative could quickly change and investors pile in, propelling the Bitcoin price higher." "It may be time to rouse from the Bitcoin-sideways slumber that has been 2022."

    Despite an increase in crypto assets under management in March, aggregate trading volumes fell 30% to $259 million, marking the fifth month in a row that they have failed to break the downward trend, according to a CryptoCompare report.

    Bitcoin was trading significantly above its 50-day moving average, which is currently around $41,085. According to Bespoke Investment Group, this puts it in the 80th to 90th percentile and places it in the "overbought" range. However, while this indicates the possibility of a price decline for many assets, the firm claims that Bitcoin has historically done the opposite.

    According to Bespoke data, when Bitcoin is in the ninth decile of its spread versus its 50-day average, it has historically gained 16% in the following month, 100% six months later, and 274 percent after a year.

    "This isn't typically seen for a stock or ETF, but because Bitcoin has mostly traded higher over the years and has a lot of momentum trading behind it, overbought levels have yet to become a headwind for this particular space," Bespoke wrote.

    According to David Duong, head of institutional research at Coinbase Global Inc., cryptos have experienced shallower drawdowns than US stocks over the past eight weeks. Equities, for example, have dropped by two standard deviations on three separate occasions in recent weeks, whereas Bitcoin has dropped by one standard deviation.

    "This decoupling is significant in our opinion," Duong wrote in a note, "because it suggests that crypto returns can exhibit less relative volatility compared to other risk assets amid some of the most challenging market conditions we have faced in recent history." "In the short term, this could support an argument for greater (relative) crypto stability."

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    The true story behind Netflix’s latest true crime documentary, The Hunt for the Crypto King Mar 25, 2022

    Another true crime documentary for the day. Is this correct? Fortunately for all of us true crime junkies (read: Team Cosmo), streaming behemoth Netflix appears to have an infinite supply of compelling documentaries for us to sink our teeth into. Trust No One: The Hunt for the Crypto King, which premieres on March 30, is up next on our 'OMG have you watched...?' list.

    We dug deep into the gripping crypto crime case that the documentary is based on, uncovering the real-life people featured in the film and learning what happened to them.

    Keeping this in mind, here's everything you need to know about Netflix's Trust No One: The Hunt for the Crypto King...

    What is the true plot of Trust No One: The Hunt for the Crypto King?

    If, like us, you're not well-versed in all things crypto, there's no need to be concerned about this film's crypto-centric content. In a nutshell, the documentary follows the search for lost internet money (aka cryptocurrency). But, to put it another way, here's a more detailed breakdown of what the show is all about.

    Consider the year 2014, when Kim Kardashian and Kanye West married, and entrepreneur Gerry Cotten founded his fintech company Quadriga, which grew to become Canada's largest cryptocurrency exchange (a place where you can buy and sell crypto).

    Within three years, the company was dealing with billions of dollars in cryptocurrency, with the industry booming and founder Cotten thriving alongside it, thanks in part to how his company differed from others doing similar work. In fact, Cotten made cryptocurrency ownership simple for its users by storing private keys in digital wallets (fancy passwords). These private keys were composed of 64-character codes, which we're sure you'll agree are difficult for the average person to remember, so crypto investors were understandably eager for Cotten's company to handle that for them. The caveat, according to Sheona McDonald, director of an earlier documentary on Cotten, is: "If you don't own your crypto key, you don't own your crypto."

    Fast forwards to 2018, when Cotten died unexpectedly, taking those priceless private keys with him to the grave.

    What happened to Gerry Cotten from Trust No One: The Search for the Crypto King?

    Cotten and his wife travelled to India in December 2018 with the intention of funding an orphanage, according to Vanity Fair, where Canadian dollars go much further.

    Cotten, however, was struck down with severe stomach pain just a few days into their trip – he'd suffered from Crohn's disease for a number of years, but had kept it quiet and out of public view. Cotten went to a local hospital because his pain was getting worse, and doctors diagnosed him with traveler's diarrhoea. However, subsequent blood tests revealed that he had developed septic shock, and within 24 hours he had three heart attacks, the last of which was fatal. On December 9th, 2018, he passed away.

    Cotten's Quadriga community wasn't informed of his death until 14 January, more than a month later, and by the end of that month, those who'd invested their money in the company were panicking.

    "As soon as I saw that notice [on Quadriga's website], I knew the money was gone," said documentary filmmaker McDonald, who had been investing in the company as well. "They had put a halt to payments."

    Here's where those passwords come into play: with Cotten's death, access to the millions of dollars in crypto his company managed was effectively lost... forever.

    Four years later, those who poured money into the company have essentially been left high and dry, with some speculating that Cotten faked his death and stole the money, or simply went into hiding after potentially losing his clients' money through shady dealings. According to the New York Post, some investors have even demanded that Cotten's body be exhumed to prove his death.

    Trust No One: The Hunt for the Crypto King will be available on Netflix beginning March 30.

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    Thailand’s government prohibits the use of cryptocurrencies as a form of payment Mar 24, 2022

    The government will prohibit the use of cryptocurrencies as a method of payment for goods and services, claiming that their increased use would jeopardise the country's financial system and economy.

    Businesses, including cryptocurrency exchanges, are prohibited from providing such payment services and from acting in a way that encourages the use of digital assets to pay for goods or services, the Securities and Exchange Commission said in a statement on Wednesday. The new regulation, however, will have no effect on trading or investment in digital assets, the agency stated.

    While the restrictions on the use of digital currencies for transactions will take effect on April 1, the regulator said businesses will have until the end of April to comply with the new rules. It stated that the restrictions on the use of cryptocurrencies such as Bitcoin for commercial transactions are consistent with European, United Kingdom, South Korean, and Malaysian regulations.

    Thailand's crackdown on digital assets comes as individuals, particularly young investors, ramp up their cryptocurrency trading in search of higher returns in the face of the country's economic slowdown. Commercial banks have been warned against direct involvement in digital asset trading due to the high level of volatility, uncertainty, and risk.

    The regulator stated that the development of any other unit of pricing than the Thai baht will increase the cost of economic activity and reduce the efficiency of monetary policy transmission. The Bank of Thailand stated that in the event of a liquidity crisis, it will be unable to provide assistance to various financial institutions in currencies other than the baht.

    The new rules require digital-asset service providers to cease advertising, soliciting, or establishing a system for the payment of goods and services via digital wallets. Businesses must warn customers against using digital assets for payments and may terminate their accounts if they are found to be in violation of the rules, it stated.

    Thais' digital assets are now worth 114.5 billion baht, up from 9.6 billion baht just a few years ago, the government reported in January. Daily average turnover has increased to 4.8 billion baht from 240 million baht, and the number of active trading accounts has increased to 1.98 million from 170,000 prior to the pandemic.

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    The Official Sponsor Of The FIFA World Cup 2022 Is Crypto.com Mar 24, 2022

    Wednesday, March 23, cryptocurrency exchange Crypto.com announced its sponsorship of the 2022 FIFA World Cup.

    The tournaments, which will take place in Qatar from November 21st to December 18th, are expected to attract a large number of potential clients for the exchange as the world's attention is focused on the revered sport.

    According to the official blog, which is also reflected on the FIFA website, the sponsorship "will increase awareness of the cryptocurrency trading platform significantly through brand exposure at the world's most popular sporting event."

    Additionally, the exchange, which will serve as the 'exclusive cryptocurrency trading platform sponsor for QATAR2022,' will benefit significantly both inside and outside the tournament's stadiums 'by providing opportunities for new and existing users to attend matches during the tournament or win exclusive merchandise.'

    "We are thrilled to have a global brand like Crypto.com as a sponsor of the exciting and groundbreaking FIFA World Cup in Qatar, which will ultimately help grow our beautiful game on a global scale," said Kay Madati, FIFA's Chief Commercial Officer.

    According to CoinGecko, Crypto.com is the third largest cryptocurrency exchange in the world by trading volume, behind Binance and OKX, with over 10 million users and over 4,000 employees worldwide. The exchange has spent hundreds of millions of dollars on advertising, with a particular emphasis on sporting events, which the exchange views as having the highest concentration of customers with a "high-risk appetite."

    "Crypto.com has already demonstrated a commitment to supporting top-tier teams and leagues, major events, and iconic venues around the world, and there is no platform larger, or with a broader reach and cultural impact, than FIFA's global football platform," Madati added.

    Apart from a broad network of high-profile sponsorships with top-tier sports teams such as the Philadelphia 76ers, Formula 1, Ultimate Fighting Championship (UFC), Canadiens, NHL team, and Aston Martin Racing Formula One team, the Hong Kong-based exchange has also invested in strategic properties worldwide to bolster its public image.

    Most recently, the exchange paid $700 million for the naming rights to the now-defunct Crypto.com Arena in Los Angeles. The arena, which has hosted high-profile events such as the Lakers and high-level celebrations, is not only a significant investment for the exchange, but also one that promises high returns.

    Having said that, it will be interesting to see if other cryptocurrency firms, such as Binance, which sponsored AFCON, join the fray. Currently, the majority of FIFA's sponsors fall under the category of established institutions.

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    Senator suggests that tax cuts could transform Australia into a ”crypto hub.” Mar 21, 2022

    Defining the regulatory agenda

    As it attempts to set a regulatory agenda for the sector, the federal government has hinted that preferential tax treatment for cryptocurrency businesses is on the table.

    Senator Andrew Bragg (who chaired the Australia as a Technology and Financial Centre committee last year) stated at a Blockchain Australia conference that he does not want Australia to miss out on the opportunity to become a blockchain hub.

    "Australia had hoped to become a hub for asset management," Bragg once said.

    "That has not occurred: 96 percent of the funds under management are domestic," he said.

    He attributed this to a previous Labor government's failure to pursue the necessary legislative changes to attract the sector, and stated that he hoped to avoid this happening to the blockchain sector in the future.

    Bragg told the conference that four key policy actions should take place before the end of the year: terms of reference for the Board of Taxation, which will establish an enquiry into taxing crypto assets; an enquiry into the causes and policy responses to de-banking by the Council of Financial Regulators; consultation on the "market design" (for example, licensing) of crypto markets; and a final consultation on the custody regime, which will cover custodial or deposit services.

    "The reality is that we do not live in a libertarian utopia," Bragg told the conference.

    "Regulatory arbitrage is not an option."

    "There is widespread agreement on the importance of addressing proper legal design."

    To reduce the possibility that Australia will miss out on its "cryptocurrency hub" opportunity, Bragg suggested that instead of attempting to amend the already complex Corporations Act, "we should have a very simple, clear, and clean Digital Services Act."

    DAOs, which some believe could replace corporations, should also be investigated as part of any cryptocurrency regulatory regime, according to Bragg.

    He warned that the rise of DAOs could cause "mass tax leakage" because they are taxed as partnerships rather than corporations.

    He stated that company tax accounted for 17.1 percent of Commonwealth revenue in 2020/2021, which he believes is "double the OECD average," and that he believes this is unsustainable.

    The key principles for regulating DAOs are that there is a consumer protection framework in place, as well as audit and disclosure standards, "replaceable rules" (rather than company constitutions) to standardise DAO governance protocols, and limited liability, just as there is for companies.

    Bragg elaborated on how the tax system must accommodate Australia's ambitions to become a cryptocurrency hub, saying that "you cannot be a serious hub unless you are competitive on taxation."

    "People like me will have to make the case in public that a tax cut in this space is needed," he continued, because he wants Australia to be seen as "a jurisdiction that people want their business in, because our tax system is clear and clean, just as our regulation is clear and clean."

    While he does not advocate for Australia to become a tax haven like the Isle of Man or Bermuda, he does believe we need to be more dynamic, adding, "We shouldn't be afraid to look at tax havens as inspiration for regulation."

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    The EU Is Trying to Scare You Away From Crypto Mar 21, 2022

    The European Union's securities, banking, and insurance watchdogs issued a joint statement last week warning consumers against investing in cryptocurrencies, claiming they risk losing all their money.

    The statement, issued by The European Supervisory Authorities (EBA, ESMA, and EIOPA — the ESAs), warns that "Consumers face a very real risk of losing all of their invested money if they purchase these assets." Consumers should be aware of the risks associated with misleading advertisements, which may include those distributed via social media and influencers. Consumers should be especially suspicious of promises of quick or high returns, particularly those that appear to be too good to be true."

    Consumers are not protected or have any recourse to compensation under existing EU financial services law, the regulators stressed.

    Additionally, they argued that consumers are buying thousands of different cryptocurrencies, including bitcoin (BTC) and ether (ETH), which together account for 60% of the market, without fully comprehending the risks.

    According to the EU's watchdogs, those who invest in cryptocurrency should understand that they risk losing all of their money, that prices can fluctuate rapidly over short periods of time, that they may become victims of scams and cyberattacks, and that they are "unlikely to have any rights to protection or compensation if things go wrong."

    The regulators specifically list seven different types of risks that consumers should be aware of when investing in cryptocurrencies:

    Extreme price fluctuations; false information; a lack of protection; product complexity; fraud and malicious activity; market manipulation, a lack of price transparency, and low liquidity; and hacks, operational risks, and security issues.

    That regulators warn that "many crypto-assets are subject to wild price swings and are speculative in nature, as their value is frequently determined solely by consumer demand" (That is, there may be no backing assets or other tangible value).

    … Due to the wild price swings, many crypto-assets are also unsuitable as a store of value, a medium of exchange, or a means of payment."

    They continue by stating that "how crypto-assets are priced and how transactions are executed on exchanges is frequently opaque." Additionally, certain cryptoassets are highly concentrated, which may have an effect on their prices or liquidity. As a result, you may not receive a fair price or treatment when purchasing or selling crypto-assets, or you may be unable to sell your crypto-assets as quickly as you wish in the absence of a buyer."

    Crypto-assets are defined here as "an electronic representation of value or rights that can be transferred and stored using distributed ledger technology or a similar technology."

    While the joint statement details the risks perceived by EU regulators, it makes no mention of increased consumer complaints about cryptocurrency transactions or increased demand for regulatory protections.

    The statement concludes with a warning about crypto-assets' alleged environmental impact: "Some crypto-assets consume a significant amount of energy, for example, during mining and validation processes, and consumers should be aware of their environmental impact."

    The Russia-Ukraine conflict has put the libertarian principles of cryptocurrencies to the test, as major exchanges have complied with Russian sanctions despite rhetoric claiming they would not interfere with the ostensibly free, borderless digital financial system.

    Ukraine requested last month that exchanges freeze any accounts held by Russians. Significant exchanges defiantly declined. Nevertheless, despite public declarations, the exchanges have been quietly enforcing the sanctions.

    Additionally, earlier this month, Joe Biden signed an executive order on government oversight of cryptocurrency, directing the Federal Reserve to consider developing its own digital currency.

    Treasury Secretary Janet Yellen stated that the initiative will "promote a more equitable, inclusive, and efficient financial system" while combating illicit finance and averting threats to financial stability and national security.

    The Federal Reserve issued a paper in January stating that digital currency "would best serve the country's needs" if banks or payment firms created accounts or digital wallets.

    "History demonstrates that, in the absence of adequate safeguards, forms of private money can pose risks to consumers and the financial system," said Nellie Liang, undersecretary for domestic finance.

    If regulators tighten their grip on crypto under the guise of protecting consumers, will this transform what was once viewed as a means of monetary liberty into yet another tool for governments to control your money?

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    EIP-1559 Has Burned 2 Million Ethereum Mar 21, 2022

    EIP-1559, Ethereum's popular fee burning proposal, which was launched in August 2021, has removed 2 million ETH from circulation.

    Important Points to Remember

    * Ethereum has now burned 2 million ETH.

    * The next protocol update for the blockchain will be a "merge" from Proof-of-Work to Proof-of-Stake.

    * With the effects of EIP-1559 and reduced emissions from switching to Proof-of-Stake, ETH could become a deflationary asset very soon.

    The "merge" to Proof-of-Stake will be Ethereum's next major update.

    EIP-1559 consumes 2,000,000 ETH

    Ethereum continues to deplete its ETH reserves.

    According to data from ultrasound.money, the world's most popular smart contract network burned 2 million ETH today. Since Ethereum's London hardfork in August 2021, the total ETH supply has been under deflationary pressure as a result of the EIP-1559 fee burning proposal. EIP-1559, widely regarded as Ethereum's most popular update to date, introduced a mechanism that burns a portion of the gas fee with each Ethereum transaction. EIP-1559 was created to modify Ethereum's fee market, as Ethereum gas fees had previously used an auction system, making transaction costs unpredictable. EIP-1559 requires Ethereum users to pay a minimum fee for transactions known as the "base fee," as well as an optional tip to miners to expedite their transactions during periods of high congestion. EIP-1559 also adds deflationary pressure to ETH and gradually reduces supply.

    Ethereum currently consumes slightly more than 6 ETH per minute, according to ultrasound.money. OpenSea, the world's largest NFT marketplace, accounts for a sizable portion of this. While Uniswap was previously the network's largest gas guzzler, a surge in the NFT market has resulted in OpenSea taking the top spot, with ETH transfers coming in second ahead of Uniswap transactions.

    Ethereum Is Getting Ready to Merge

    Following the London hardfork, Ethereum's next major protocol update will be the long-awaited switch from Proof-of-Work to Proof-of-Stake consensus. The "merge" update will see the blockchain's consensus layer (also known as the Beacon Chain) merge with the execution layer (Ethereum mainnet).

    The Ethereum Foundation's Tim Beiko reported that one client failed to produce blocks during the runthrough, which increased anticipation for the merge this week. Fans of the top smart contract network, on the other hand, had been counting down to the merger prior to this week; the transition to Proof-of-Stake is expected to be one of the most significant events in the history of the blockchain. Aside from introducing a key protocol change that will pay ETH stakers rather than miners, Ethereum is expected to become 99.95% more energy efficient, which should be welcomed by both the crypto community and the mainstream.

    Importantly, once the merger occurs, ETH emissions will be significantly reduced. The ETH supply is currently inflating by about 4.5 percent per year to pay miners, but with Proof-of-Stake, the annual emission is expected to be closer to 1%. Because EIP-1559 routinely burns 6 ETH per minute, the rate of ETH burned could exceed the amount issued in block rewards to validators. ETH would then be a deflationary asset.

    Though no firm date has been set, the merger is expected to occur in June 2022.

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    A Major Regulator Is Concerned About Facebook’s Crypto Practices Mar 21, 2022

    The social media behemoth is facing serious allegations about its cryptocurrency practises.

    Facebook has once again found itself at the centre of a controversy.

    It's as if the social media behemoth, which changed its name to Meta Platforms (FB) - Get Meta Platforms Inc. Class A Report last October, was struggling to manage its practises.

    The Australian Competition and Consumer Commission (ACCC) has decided to sue Meta for allegedly "aiding and abetting" celebrity scam advertisements on Facebook, which have cost some Australians hundreds of thousands of dollars."

    In a press release, the regulator claimed that Meta "engaged in false, misleading, or deceptive conduct by publishing scam advertisements featuring prominent Australian public figures."

    The ACCC claims that this behaviour violated the Australian Consumer Law (ACL) and the Australian Securities and Investments Commission Act (ASIC Act).

    False Advertisements Associated with Celebrities

    It is also claimed that Meta aided and abetted or was knowingly involved in the advertisers' false or misleading conduct and representations.

    "The ads, which promoted cryptocurrency investment or money-making schemes, were likely to mislead Facebook users into believing the advertised schemes were associated with well-known people featured in the ads, such as businessman Dick Smith, TV presenter David Koch, and former NSW Premier Mike Baird," the ACCC said.

    Including: "The schemes were actually scams, and the people featured in the advertisements had never approved or endorsed them"

    The ads, according to the regulator, contained links that directed Facebook users to a fake media article that included quotes attributed to the public figure featured in the ad endorsing a cryptocurrency or money-making scheme.

    "Users were then invited to sign up and were contacted by scammers who used high-pressure tactics, such as repeated phone calls, to convince users to deposit funds into the bogus schemes."

    "The essence of our case is that Meta is responsible for the advertisements that it publishes on its platform," said ACCC Chair Rod Sims.

    "Using Facebook algorithms, it is a critical part of Meta's business to enable advertisers to target users who are most likely to click on a link in an ad and visit the ad's landing page." These ad-generated landing page visits generate significant revenue for Facebook."

    "In one shocking case, we are aware of a consumer who lost more than $650,000 as a result of one of these scams being falsely advertised on Facebook as an investment opportunity." "It's a disgrace," Mr Sims said.

    Meta is said to have been aware that celebrity endorsement cryptocurrency scam ads were being displayed on Facebook but did not take adequate steps to address the problem. Even after public figures all over the world complained that their names and images had been used in similar ads without their permission, the celebrity endorsement cryptocurrency scam ads were still being displayed on Facebook.

    Penalties, costs, and other orders are sought by the regulator.

    Meta did not respond when contacted by TheStreet. However, according to other news outlets, Meta has stated that it will defend the proceedings.

    Facebook is accused of using a'malicious technique.'

    "We don't want ads on Facebook that try to scam people out of money or mislead people – they violate our policies and are bad for our community." We use technology to detect and block scam ads, and we work hard to stay ahead of scammers' attempts to circumvent our detection systems "According to a spokesperson for The Guardian.

    "To date, we have cooperated with the ACCC's investigation into this matter."

    Between October and December of last year, Meta removed 1.7 billion fake accounts and 1.2 billion pieces of spam content – more than 99.9 percent and 99.6 percent of each were disconnected before they were reported.

    In 2020, Mark Zuckerberg's company filed a lawsuit against Basant Gajjar in California.

    "Under the alias 'LeadCloak,' Gajjar violated Facebook terms and policies by providing cloaking software and services designed to circumvent automated ad review systems, ultimately running deceptive ads on Facebook and Instagram," Facebook said in April 2020.

    Cloaking, according to the company, is a malicious technique that impedes ad review systems by concealing the nature of the website linked to an ad. When ads are cloaked, a company's ad review system may see a website displaying a seemingly innocuous product, such as a sweater, but a user will see a different website promoting deceptive products and services, which are often prohibited.

    "Leadcloak's software was used in this case to conceal websites containing scams related to COVID-19, cryptocurrency, pharmaceuticals, diet pills, and fake news pages. Some of these cloaked websites also included celebrity images "In a blog post at the time, Jessica Romero, Facebook's director of platform enforcement and litigation, stated.

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    Domain names are becoming more private as a result of the blockchain, for better or worse Mar 21, 2022

    According to a Microsoft research, a new type of domain name is ripe for fraudsters to abuse.

    Microsoft's new Digital Defence Report features a rogue's gallery of cyberthreats such as phishing, ransomware, and supply-chain intrusions. However, it introduces a new foe to the mix: blockchain domains.

    In Microsoft's latest annual security report, domain names inscribed into a distributed ledger maintained across a constellation of machines rather than housed in a traditional, centralised registry are referred to as "the next major threat."

    When domain names are stored on a blockchain, they can be difficult to shut down or to trace to their owners. It also renders them unavailable without the use of specialised software or configuration.

    "In recent years, we have observed blockchain domains incorporated into cybercriminal infrastructure and activities," the paper states, referring to Microsoft's experience dismantling a botnet known as Necurs last spring.

    That botnet employed a domain-generating algorithm to generate new hosts in bulk, including under the.bit blockchain top-level domain, rendering them unpoliced in the same way that a.com or other standards-compliant domain would be.

    Because of the possibility of abuse, a group called OpenNIC, which advocates alternatives to the existing domain-name system, voted in 2019 to prohibit the.bit domain, fearing that the organisation would be "directly responsible for the birth of a whole new kind of malware."

    "This trend of dangers employing blockchain domains as infrastructure with the means to establish an undeniable criminal network should be taken carefully," adds Microsoft's research.

    CAN'T GET THEM TO STOP

    Meanwhile, among supporters of a decentralised internet, there is a popular answer to the criticism that blockchain names cannot be removed: That's exactly right.

    According to the sales pitch on the webpage of one blockchain-domain registrar, Unstoppable Domains, "Unlike traditional domains, Unstoppable Domains are totally owned and controlled by the user with zero renewal costs ever (you buy it once, you own it for life!

    It lists one-time registration rates ranging from $20 to $100 for blockchain top-level domains like as.crypto,.wallet,.coin,.888, and.x, but costs can skyrocket for shorter, more memorable domains. Potomacriver.x, for example, would cost $100, whereas potomac.x would cost $7,500.

    Unstoppable Domains CEO Matthew Gould responded via email, dismissing the notion that his San Francisco-based company is an irresponsible actor. He mentioned the company's trademark-compliance regulations (it wouldn't let me start registration fastcompany.x because it said it was "protected") and applicant-screening procedures.

    "We have also prevented the registration of domains associated with known pirating software or other types of IP theft and fraud," he wrote, adding that Unstoppable can even take back a domain if registrants park it with its custody service rather than transferring it to their own cryptocurrency wallet—the former being an easier route that roughly 75% of registrants take today.

    Gould also argued that blockchain domains would improve trust in cryptocurrency transactions rather than decrease it.

    "Anonymous people like to generate new addresses every time since it is great practise," he wrote. "Domains establish a single memorable non-changing endpoint, which reduces the anonymity of cryptocurrency payments."

    Microsoft refused to comment further on the report's conclusions.

    REQUIRES A SPECIAL BROWSER

    While blockchain domains have been exploited for malware, Sean Gallagher, senior security researcher at Sophos, stated in an email that their need for bespoke routing rendered them an ineffective option for such assaults, because malware can't spread via standard web browsers that don't support the domains. He also pointed out that blockchain domains provide less privacy than Tor, the cloaked routing method used to avoid many censorship regimes: "They don't provide anonymity for the destination."

    The simplest method to navigate to a blockchain domain, such as brad.crypto—Unstoppable Domains cofounder Bradley Kam's online space—is to utilise one of the few browsers that already support that namespace, such as the Chrome-based, privacy-optimised Brave. Enter brad.crypto into Brave's URL bar, click to accept the blockchain routing, and you should view Kam's gallery of non-fungible token (NFT) artwork.

    Kevin Werbach, a professor at the University of Pennsylvania's Wharton School, said he doubted browser support for blockchain domains would spread anytime soon, despite the fact that he'd recently registered kwerb.eth (that suffix references another blockchain domain system, the Ethereum Name Service).

    "Google, Apple, and Microsoft aren't going to provide native support unless they're confident that those concerns will be addressed," he wrote. As a result, adoption will be contingent on people's willingness to switch browsers, instal browser extensions, or custom-configure DNS settings—the latter two practises being the types of fiddling that malware occasionally exploits.

    "DNS has security flaws that are partly related to its centralised structure," Werbach explained, "but putting domain names on a blockchain introduces a new set of security issues." "I don't believe we know enough about the size of the relative dangers to make categorical claims."

    The current frothiness of cryptocurrency and blockchain mania is cause for concern.

    Mike Masnick, founder of the Techdirt tech-policy blog and proponent of a more decentralised social internet, praised the potential for blockchain domains to "create both a different kind of incentive structure and one in which users may retain more control over their own information."

    However, he went on to say that the blockchain space today is "almost entirely populated by mercenary folks looking for profit, which has some useful elements—in terms of bringing in funding and incentivising certain behaviours—but also has the real potential for prioritising pure profit over societal benefit."

    Masnick didn't draw any comparisons between his work and today's commercial social media. However, why should he?

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    The Benefits of Cryptocurrency and Blockchain Domains Mar 21, 2022

    Blockchain domains are a crucial breakthrough that has the potential to alter the internet and enhance access for everyone. Understanding blockchain domains requires a solid understanding of the fundamentals of web servers.

    Domain names function similarly to street addresses

    Website names are represented by domains. They function similarly to physical street addresses in that they allow visitors to more easily navigate to websites. A domain name, in essence, aids in internet navigation. The name of the domain replaces the lengthy string of digits that constitutes an IP address.

    A Domain Name's Elements

    A domain name is made up of two parts: the website's actual name and the extension (.com). When purchasing a domain name, the buyer can designate which server the domain name will point to. The Internet Corporation for Assigned Names and Numbers (ICANN) is in charge of domain name administration and maintains a directory of available domain names.

    Domain-related Issues

    Domains, which are hosted on a central server, are managed by registrars. Even though people can purchase them, these operate as domain custodians. Furthermore, the domains are exposed to assaults and downtime as a result of the central hosting.

    The Blockchain is now available

    Blockchain domains are managed by no centralised authority. In addition, there is no centralised supervision. They are entirely decentralised and are typically based on Ethereum, a blockchain network and environment. This is why an Ethereum domain checker can assist you in determining whether or not your prefered domain is already in use.

    Advantages in addition

    Blockchain domains enhance conventional domain infrastructure. They are resistant to censorship, decentralised, offer greater payment efficiency, and provide greater ownership and control.

    Users have complete control and access to blockchain domains. Unlike traditional domains, which give a few selected users unrestricted power over the registry, they improve ownership.

    Blockchain Domains Cannot be Censored

    Traditional domains can be censored globally by governments and other authorities for any reason. Creators of content can post their work on blockchain domains without fear of getting blacklisted. A platform that is not permitted in a specific jurisdiction can be redesigned utilising new blockchain-based domains.

    Cryptocurrency Transfer That Is As Simple As It Gets

    With a blockchain domain, cryptocurrency transfer becomes simple and smooth. Simply linking your crypto address to the domain allows you to send and receive payments without having to copy and paste difficult, lengthy wallet addresses. A blockchain domain is all that consumers need to make immediate payments on Web3.0, the future of the internet.

    There are no yearly costs

    For blockchain domains, there is no yearly charge. You own the domain in perpetuity once you pay the one-time price.

    Nothing or no one can stop you from utilising it once you've linked it to your crypto wallet address.

    Downsides

    Blockchain domains, like everything else, have some drawbacks. Poor content control, limited SEO visibility, and the possibility of being locked out of your website are all examples.

    If you misplace your private keys, you are at risk. In this scenario, the advantage of others not being able to access your domain can work against you. If you lose your private keys, you'll never be able to get back in. If this occurs, you will have no choice except to depart the domain because you are the only person who knows the key combination.

    Furthermore, blockchain domains and webpages are not easily discovered by online consumers using search engines. This will undoubtedly change in the future, but for the time being, this is the case because blockchain domains are still in their infancy. They use SEO-unfriendly domain extensions like.crypto.

    Lastly

    Ethereum is the most popular blockchain platform, but it is far from alone. Binance Smart Chain, Avalanche, Fantom, Polygon, Polkadot, Solana, and other cryptocurrencies are among its competitors. They enjoy benefits such as lesser fees and faster speeds.

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    What Is the Metaverse’s Art Vision? Two Prominent Crypto-Artists Outline Their Visions Mar 17, 2022

    Sydney Xiong works for the APENFT Foundation, and Ben Nolan is the founder of Cryptovoxels, an art-focused online universe.

    Whether you're new to the metaverse or already have an enviable NFT collection, the question of what the IRL art world's role in the metaverse will look like in the coming years is on many art lovers' minds. Though the wild world of NFTs can make it difficult to know where to look, some significant players are already shaping that future.

    Among them are Sydney Xiong, the director of the APENFT Foundation, which brings art and finance together in the metaverse, and Ben Nolan, the founder of Cryptovoxels, a virtual world powered by the Ethereum blockchain that hosts a variety of art, music, and cultural events. Earlier this year, APENFT hosted the open-call NFT exhibition "Second Lives" on Cryptovoxels, which featured big-name NFT artists like Beeple, Fewocious, and Pak alongside rising talents. The works were auctioned off on LiveArt, and APENFT's Art Dream Fund distributed $100,000 to 13 of the emerging artists chosen for the call.

    We recently spoke with both Xiong and Nolan about the mainstreaming of NFTs and what they find most exciting about art in the metaverse.

    Earlier this year, the APENFT Foundation launched "Second Life," an open call exhibition of NFTs at the APENFT ART MUSEUM in Cryptovoxels. Can you tell me more about this exhibition, particularly the theme?

    Sydney: All of the artists in the exhibition are linked by their use of digital media to explore regions of alternative realities in the metaverse. The theme of the open call, "Second Life," was inspired by a game that allows people to create an avatar for themselves and live a second life in an online virtual world. The artists we chose for the exhibition displayed a variety of creative visions inspired by the concept of a second life. Some are visions of a space-age future, others are biological, and still others are more playful. I was struck by the innovative and energising ideas that artists have for the future.

    Tell us about some of the winners of the open call. Who are the NFT artists we should be keeping an eye on?

    Sydney: The open call went extremely well. We received over 500 submissions. Some came from professional artists. Others were art students, and some came from creators who work in other fields such as design, music, and marketing. These artists work in a variety of mediums, from traditional mediums like copper plate photography to GIFs and digital animation. It was a lot of fun talking to them one on one and learning about their processes and the ideas behind each piece.

    WMD Studios, a Berlin-based art collective founded in 2021, is one of the winning artists. The team has worked in a variety of mediums, including VR, video, and installation, and is interested in the future of many other new art forms.

    I'd also recommend the artist Lil E, who presented the work Revelation 2077, as well as the artist Jansword Zhu, an artist and art historian interested in exploring new material, and whose work is very organic and illuminating.

    Why did you decide to host the exhibition on Cryptovoxels?

    Sydney: We had planned a physical exhibition in Shanghai, but it had to be cancelled the day before the opening due to the Covid. The postponement of this physical exhibition compelled us to consider an alternative option, as in-person exhibitions were becoming increasingly difficult at the time.

    Our APENFT Art Museum in Cryptovoxels was the best option we could think of because it's all online and easier to coordinate in this uncertain period of time while creating a very unique and really fun virtual experience. It's the ideal place to see digital art, in my opinion, because all of the pieces in the show were JPEGs, GIFS, moving graphics, and so on.

    While exploring Cryptovoxels, I was struck by the number of art galleries, museum spaces, and musical events that were taking place. How did that happen? Was it a conscious decision to cater to a cultural sphere, or did it happen naturally?

    Ben: I have no idea how we did it! We started out as a very technical blockchain and ended up with this small group of artists doing NFTs very early in 2018. Someone asked me one morning if they could add support for displaying their NFTs in a gallery-like setting.

    I really like gallery aesthetics, with tall white walls and nice lighting and shadows. That was a simple thing to target graphically early on. And then, when people came with these massive amounts of NFTs—we were already in the Ethereum ecosystem—it was quite simple to display those NFTs in the world.

    Then we were able to do gallery openings through Covid so that you could get together with 10 or 20 people to show a new collection back when the NFT scene was completely unknown and no one knew who we were. It worked extremely well. So I thought—galleries are awesome. We also have a diverse group of creators. We have a diverse group of women and men, as well as people of various ages and backgrounds. We really lean into it because it's something we seem to be good at.

    I believe in a network of metaverses—not just one metaverse, but multiple metaverses for different purposes. There may be one that is excellent for playing shooter games, one that is excellent for visiting art galleries, and one that is excellent for listening to music, for example. Cryptovoxels has ended up in the space of galleries and musical events, and I love being in that space. It's fantastic.

    For someone who is new to the metaverse, I liked that I didn't have to register for anything with Cryptovoxles and could just start exploring. "Barriers to entry" is a concept that is frequently discussed in the art world. I'm curious if this is something you both consider in terms of the metaverse.

    Sydney: In the future, everyone will have a cryptocurrency wallet. There won't be a huge barrier or problem for people to log in and explore Cryptovoxels or use OpenSea to buy NFTs. People will grow accustomed to the digital parallel universe.

    There are so many more things you can do in the virtual world than there are in the real world—there are no limitations in terms of shape, building forms, or what you might consider putting in museums or galleries. I'm really enjoying how people can work together collaboratively. I've heard of numerous projects in which multiple artists and designers collaborate to build and design. It facilitates the interdisciplinary dialogue that interests me.

    Ben: I agree with Syndey that the barrier will diminish in the future. However, we designed Cryptovoxels so that when you arrive, you are immediately immersed in the world. There is no way to log in. There is no way to choose your character. There are no instructions. You begin to explore a physical space and realise, "I can look around, I can walk, oh, there's art." I can look around at the other people. "I can talk to them." We didn't want anyone to be restricted from using it. We designed it to work on any device, which means it looks like a 15-year-old game because we try to use the most basic technology.

    For example, there are now a number of events where you must have a specific NFT to enter—this is unavoidable, but I wanted to create a world for people to explore that was full of things. In many of these virtual worlds, you are assigned a character who immediately asks, "Are you a man or a woman?" We didn't want to do that. Everyone gets a default avatar with a neutral walking stance, so I don't know if these events are attended by men or women unless someone actively declares their gender. Everyone merely exists.

    The metaverse is still taking shape. What are the guiding principles underlying each of your projects?

    Ben: User sovereignty and people owning their art, what they create, and what they collect. Also, everyone is welcome, and no one is excluded. We sincerely want to protect people's privacy and data. Right now, we have ways of funding the ongoing growth and development of Cryptovoxels without having to track people and monetise every aspect of it. That's very important to me. I want to offer our services at a low cost so that we can offer them to many people for free, and everyone who cannot afford to invest in cryptocurrency can still participate, build, create, and do all of these things. Then, those with more resources can contribute to global funding while also creating value for themselves that they can capture and hold.

    Sydney: I wholeheartedly concur. It's about maintaining your privacy and being able to own and profit from your own content. We have recently invested in many NFT projects as a foundation, more than 30 in the last six months. Apart from simply incubating and supporting crypto native artists, we have invested in a number of NFT projects aimed at expanding the ecosystem, with the goal of attracting traditional or Web 2 users to our website.

    What do you think the future of the traditional art world and the metaverse will be?

    Sydney: Our foundation is attempting to bridge the gap between the traditional art world and the so-called metaverse, or future online world. I firmly believe that these two worlds are colliding. Digitalisation and the digital presence of exhibitions will become more common in the future because it allows artists to reach a much larger audience and there are no limitations on what they can create.

    Actually, we're curating an offline exhibition again in April, and we're hoping to finish it this time! The exhibition is divided structurally into two parts: one with artists' works and the other with an enclosed LED wall space where we'll have a Cryptovoxels exhibition running concurrently with the offline exhibition. I really believe it will be fantastic—and I'll be able to share more details in the coming weeks.

    What are the main benefits of NFTs, in your opinion?

    Sydney: The distinction between artists and non-artists is stark. In a traditional gallery, the revenue is split 50/50. It's just your own profits here, and you get the royalty revenue every time a transaction is made on the work.

    Ben: It's also more fluid. If I buy some art off Sydney's wall, she has to take it down, crate it, and ship it to New Zealand. Then it will take two weeks to reach me. Or I can buy that artwork right away and have it in my wallet in a matter of seconds. As long as your keys are secure, I'll have somewhere to store it safely and easily. There are drawbacks, such as the carbon footprint, but those issues can and are being addressed.

    What do you say to NFT sceptics?

    Ben: I don't mind that so many people despise NFTs because I believe it gives us more time to build an amazing ecosystem in this space before everyone realises this is actually a fantastic way to go forwards. We do not want to use terrawatts of power on the Ethereum main nett. We don't want to concentrate all of the capital in the hands of a few early adopters who control the entire market. However, these are two anomalies in the system. There are so many benefits to people indelibly owning their art on a distributed ledger, having it freely transmissible to collect, and getting a return on it. This technology has some truly amazing features.

    I'm surprised that NFTs took off because I thought they were far too nerdy. We've been in them since 2018, and I never imagined NFTs would become so popular. I'm overjoyed.

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    The Rise of Metaverse Gaming Ecosystems in the Crypto Industry Mar 17, 2022

    NFTs are widely used in Metaverse gaming platforms to ensure that users have complete control over their assets.

    The metaverse has emerged as the next big thing in the crypto industry, with enormous potential to change how we interact with one another in the future. It has also broadened the roles of NFTs and digital assets beyond being merely a store of value that can be integrated into various sectors and use cases.

    The popularity of the metaverse has also spawned one-of-a-kind games that provide users with immersive experiences and allow them to earn rewards for gaming. For obvious reasons, there has been a significant increase in the number of crypto enthusiasts flocking to a metaverse-based ecosystem.

    Many people lost their jobs as a result of the global pandemic, and blockchain gaming represents a great opportunity as a source of consistent income. Unsurprisingly, the market is flooded with blockchain gaming platforms. Let's take a look at some of the key features of metaverse gaming platforms.

    Ecosystem Immersion

    Most metaverse gaming platforms offer users an ecosystem in which they can have fun while earning cryptocurrency through various activities. Some of these activities include purchasing lands, such as Decentraland, fighting battles, such as Axie Infinity, and participating in races, such as DoRac.

    Each ecosystem is designed to provide users with the best gaming experience possible by allowing them to customise their characters and level up in order to earn more rewards and compete in competitions.

    In Axie Infinity, for example, users must purchase a minimum of three Axies (pokemon-like characters) in order to compete against other players. Users on DoRac can own and breed special dogs in order to compete in racing events against other players.

    NFT Applications

    NFTs are widely used in Metaverse gaming platforms to ensure that users have complete control over their assets. In contrast to traditional games, where in-game characters are exclusive to the game and cannot be sold, metaverse games mint these characters as NFTs.

    NFTs are one-of-a-kind digital assets that cannot be easily replicated. Because NFTs are used to create in-game assets, gamers can sell their prized gaming collections on popular NFT marketplaces such as OpenSea, BakerySwap, and others.

    Unsurprisingly, the previously mentioned gaming metaverse games allow users to sell their Axies (Axie Infinity) and Dogs (DoRac) as NFTs on supported marketplaces. Users of DoRac and Decentraland can buy and sell lands and buildings within their metaverse ecosystems.

    Tokenomics

    Tokenomics is an important aspect of any gaming metaverse, with some ecosystems having multiple tokens. Axie Infinity, for example, has two major tokens that users can earn within the game: AXIE and SLP tokens.

    These tokens are used to incentivise gamers in gaming metaverses, with some tokens serving as utility tokens and others serving as governance tokens within the game. In DoRac, for example, users can earn $DRT, the game's native token, by participating in racing events with their doges characters.

    Gamers use metaverse tokens to power up their characters and increase the value of their NFTs. As a result, crypto enthusiasts are constantly on the lookout for metaverse platforms with excellent tokenomics, as they provide excellent long-term value.

    Community

    Community is important because metaverse gaming platforms with large and loyal communities tend to increase the overall value of their games. Axie Infinity and Decentraland, for example, have well-established communities, with celebrities purchasing lands on Decentraland.

    DoRac is still a new gaming platform, but it has an active community of over 130,000 members, which resulted in its first NFT collection selling out within hours of its release. DoRac, like Axie Infinity, has alliances with top gaming guilds such as Breedfi, AxB Esports guild, and Triple Crown Guild.

    These are some of the major characteristics that define a metaverse gaming ecosystem.

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    Have you thought about a career in the cryptocurrency industry? Mar 17, 2022

    As they continue to embrace digital assets, companies such as Visa and Nomura Holdings have established dedicated crypto departments.

    Analysing the labour market is one of my favourite things to do. I used to work as a labour market analyst for a Canadian think tank that specialised in the IT sector. Tech workers have always had higher demand, higher pay, and lower unemployment rates than the rest of the economy.

    Despite the fact that blockchain and cryptocurrency were virtually non-existent during my tenure, these emerging technologies are now driving exponential growth in an industry transitioning from Web2 to Web3. This week's we focus on the growing demand for cryptocurrency professionals in the traditional finance and payment industries. We also look at the most recent funding news from the blockchain world.

    Visa is looking for recent college graduates for its Crypto Development Program

    Visa is inviting recent college graduates to participate in its Crypto Development Program, an 18-month "rotational development experience" designed to usher in the next generation of cryptocurrency professionals. As it continues to roll out crypto-focused products and solutions, Visa says it wants to build a "fully fluent cryptocurrency team now and in the future." Visa has stated unequivocally that it will not be left behind in the digital asset revolution. The company announced in December that it was launching a new crypto consulting service for merchants and banks. The company confirmed in September of last year that it was working on a blockchain interoperability project aimed at serving as a "network of blockchain networks."

    Dedicated crypto teams are thriving within traditional financial institutions

    As digital assets become more widely available, specialised crypto departments are quickly becoming the norm within traditional financial institutions. Nomura Holdings, a Japanese financial holding company that recently established a new digital asset department, is perhaps the most notable example. In an interview with Cointelegraph, bitFlyer USA executive Christopher Temme stated that this trend is likely to continue as more clients request exposure to crypto markets from their financial institutions. Goldman Sachs, it turns out, is already listening to its clients by providing access to Galaxy Digital's Bitcoin (BTC) and Ether (ETH) funds. As financial institutions establish dedicated crypto shops, you can expect to see a significant increase in the number of crypto-related job openings in the near future.

    ConsenSys raises $450 million in Series D funding and more than doubles its valuation in four months

    Without another massive funding announcement from the blockchain industry, Crypto Biz would be incomplete. ConsenSys, a provider of blockchain infrastructure, announced this week that it had raised $450 million in Series D funding led by ParaFi Capital, with participation from Temasek, SoftBank Vision Fund 2, and Microsoft, among others. ConsenSys' valuation has more than doubled to more than $7 billion, just four months after Cointelegraph reported that the company's valuation had surpassed the $3 billion mark. When you use MetaMask, one of the most popular cryptocurrency wallets and browser extensions, your value skyrockets. According to ConsenSys, MetaMask now has over 30 million monthly active users.

    Gauntlet, a crypto quant firm, has been valued at $1 billion as a result of its Series B funding

    In other funding news, a crypto quant led by a former Wall Street executive raised $23.8 million in Series B funding this week, bringing the firm's total valuation to $1 billion. Gauntlet, the aforementioned new "crypto unicorn," provides financial modelling tools to the decentralised finance (DeFi) industry. In other words, it assists DeFi platforms in determining optimal lending and collateral levels in order to improve capital efficiency and reduce risk. Aave and Compound are two of Gauntlet's most notable clients, both of which are among the top ten DeFi projects in terms of market capitalisation and total value locked. While the DeFi sector may be flying under the radar for the time being, don't be surprised if it becomes front-page news again. This may occur sooner than you think.

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    Why the iPhone may be the key to a cryptocurrency revolution Mar 17, 2022

    Apple has a market capitalisation of $US2.5 trillion. There are only so many opportunities that the company can pursue in order to significantly increase its bottom line. Self-driving cars and mixed-reality glasses come to mind (as much as I love the Ted Lasso cinematic universe, it's not going to change the world).

    Another huge opportunity that the iPhone maker has been relatively quiet about is cryptocurrency. "Apple's position on cryptocurrency is somewhere between neutral and hostile," says Ric Burton, a founding member of the Ethereum project. "However, the iPhone may be the tool that brings millions of people into the ecosystem."

    How? By developing a user-friendly interface for interacting with the crypto economy.

    "You have to remember that Apple is a company that makes products for people to access protocols," Burton says, noting that the iPod assisted users in interacting with the MP3 standard, whereas the iPhone does the same for internet standards.

    Cryptography is a set of protocols, and there are numerous tools for interacting with it. However, as designer and technology advisor Holyn Kanake recently wrote for CoinDesk, "these products are miles away from decentralisation, aggressively technical, and composed of discordant user interfaces."

    Signal founder Moxie Marlinspike hammered home the point in January with a viral post titled "My First Impressions of Web3."

    He noticed that crypto's promise of a decentralised tech stack is colliding with human behaviour: "People don't want, and will never want, to run their own servers." (In my rough translation, this means that we tend to be simple and lazy.)

    Burton believes that the iPhone, which more than 1 billion people carry in their pockets on a daily basis, can help to solve this problem in two ways:

    Safari browser add-on

    Metamask, a Chrome extension crypto wallet with 21 million users, is one of crypto's most popular onboarding tools so far. Apple's iOS 15 update, released in November, adds more browser extension support. And, with Safari accounting for 54% of mobile traffic in the United States, there is room for more crypto iPhone apps.

    Wallet hardware

    A secure enclave is a hardware feature on the iPhone. It is a subsystem on the iPhone A1 chip that stores data (passcodes, biometric data) for sensitive applications such as FaceID and Apple Pay. Importantly, iOS cannot directly access the data. If Apple added the Elliptic Curve Digital Signature Algorithm (ECDSA) encryption signature, the iPhone could become a secure crypto hardware wallet for storing private keys and digital authentication.

    "A good browser extension is a near-term solution for onboarding crypto users," says Burton, who put his optimism into action by developing Balance, an open-source crypto wallet extension for (you guessed it) Safari.

    The hardware wallet is a longer-term solution, but it has the potential to be revolutionary given Apple's ability to create user-friendly tools. In some ways, cryptocurrency is already at the mercy of Apple. Coinbase Global CEO Brian Armstrong stated in a blog post on February 4 that the crypto exchange must "play by Apple's rules" in order to be listed in the App Store and service iPhone users.

    But what does Apple think about cryptocurrency?

    Currently, iPhone users can download crypto wallet apps (such as Coinbase and Crypto.com), but the company has deemed NFT-viewing apps unsuitable for the App Store. This stance, however, appears to be related to Apple's App Store tax rather than a crypto issue. CEO Tim Cook stated in November at the DealBook Conference that he owns cryptocurrency as "part of a diversified portfolio." While he stated that Apple has "no immediate plans" to integrate cryptocurrency payments, he added that "there are things the company is definitely looking at."

    The White House is also considering how to encourage crypto innovation. President Joe Biden recently signed an Executive Order on cryptocurrency with the goal of advancing "US competitiveness and leadership" in digital asset technologies.

    "As cryptoassets become a larger portion of people's nett worth, they will prioritise security and privacy," Burton predicts. "Cook has pushed for those features from the start." In comparison to other Big Tech players (Google, Meta), I believe Apple will do the right thing for the people if it goes the crypto route."

    Apple's embrace of cryptocurrency would not be the first time a major tech company changed its tune. Last week, payments giant Stripe released a suite of crypto-infrastructure tools, which was a significant domino to fall. It had previously launched and then disbanded its cryptocurrency team in 2018.

    Burton, who briefly worked at Stripe in its early days, said the move was unsurprising: "Web 2 companies all come around to crypto when they see how it can actually help their customers."

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    A New Bill Aims To Prevent Sanctioned Russian Oligarchs From Hiding Their Assets Using Cryptocurrency Mar 17, 2022

    But the head of Ukraine’s biggest crypto exchange fears that regulation of digital assets markets could hurt ordinary Russians’ ability to push back against Putin.

    During a Senate hearing Thursday, Sen. Elizabeth Warren introduced a new bill that would authorise the president to sanction foreign crypto firms that are conducting business with sanctioned Russian entities, addressing the concerns held by several representatives that oligarchs could move and conceal their assets through crypto networks.

    But Michael Chobanian, the founder of Ukraine’s largest crypto exchange and one of the hearing’s witnesses, told members of Congress that it would be extremely difficult for Russian oligarchs to use crypto to evade economic sanctions and that efforts to regulate cryptocurrency markets should not undermine the ability of Russian citizens to “bring down” the Putin regime.

    “Crypto provides new payment options for criminals and cheats,” Warren said during the Senate Committee on Banking, Housing, and Urban Affairs hearing, which focused on the role of cryptocurrency in illegal finance. In attendance were a spectrum of witnesses, including Chobanian, who has worked closely with Ukraine’s government to facilitate its wartime crypto fundraising campaign, and Michael Mosier, former acting director of the Treasury’s Financial Crimes Enforcement Network (FinCEN), which recently flagged crypto as a potential albeit limited method for avoiding sanctions.

    Warren’s legislation, called the Digital Asset Sanctions Compliance Enhancement Act, has been cosponsored by nine members of the banking committee, including Sen. Mark Warner. It comes one week after President Joe Biden signed an executive order calling for a “whole-of-government approach” to crypto regulation.

    “We know other countries have used crypto to avoid sanctions,” Warren said. The senator noted that Iran, Venezuela, and North Korea have circumvented sanctions via crypto. She said that last year, 74% of the revenue generated by ransomware extortion, amounting to more than $400 million in cryptocurrency, was linked to Russian-affiliated hackers, according to blockchain data platform Chainalysis.

    But Chobanian, founder of Kyiv-based Kuna Exchange, which has provided the framework for Ukraine’s crypto donation efforts, presented the positives of using digital currencies in wartime. The country’s crypto crowdfund has raised more than $50 million since Ukraine’s digital minister Mykhailo Fedorov announced it on Feb. 26, and now the campaign has a goal of $100 million, Chobanian said. Under the authority of the Ministry of Digital Transformation and the Ministry of Defense, Kuna has been acting as Ukraine’s “crypto bank,” converting donations into currencies such as the euro, as well as directly purchasing goods with crypto. The Ukrainian army has used these funds to purchase more than 5,000 bulletproof vests, 500 helmets, and 410,000 packed lunches, according to a government report.

    In the besieged city of Mariupol, which has been devastated by Russian attacks, including the bombing on Wednesday of a theater used to shelter more than a thousand civilians, “the internet still works there, so we can supply crypto there to buy food,” Chobanian said.

    The hearing revealed not only crypto’s polarizing effects — Committee Chair Sherrod Brown said that digital assets make it “easier to commit crimes and facilitate terrorism” — but also how lawmakers are trying to regulate crypto without excluding the US from its supposed benefits.

    “Lawmakers should not harm the United States’ reputation for fostering technological innovation,” Sen. Pat Toomey said. “A lack of clarity is undermining that tradition and driving innovation abroad.”

    Jonathan Levin, CEO of Chainalysis, testified that “the transparency of blockchains enhances the ability of policymakers and law enforcement to detect, disrupt, and, ultimately, deter illicit activity.” Chainalysis has won numerous government contracts to provide blockchain tracing services to federal agencies such as the FBI and Treasury Department.

    At one point, Warren pressed Levin on the hypothetical ease with which Russian oligarchs could launder funds through crypto networks and strategies such as chain-hopping, or rapidly transferring funds across multiple cryptocurrencies. Levin claimed that chain-hopping would not allow an oligarch to hide their wealth. Warren said she was “surprised” by Levin’s answer, considering the nature of Chainalysis’s work.

    Chobanian stated that it is “impossible to transfer large amounts of money from fiat into crypto,” as it would be difficult for oligarchs to quickly convert millions of rubles into crypto without detection. “Even if they do, there’s nothing Russian oligarchs can do with it. For them, it’s just numbers, which are pretty useless.”

    Additionally, Chobanian said he hopes that efforts to enforce sanctions will not cut off regular Russian citizens from crypto networks. “There are a lot of Russians in and outside of Russia who rely on crypto. These people are the opposition to the Putin regime,” he said. Chobanian noted that payment suspensions by Visa and Mastercard have increased Russians’ reliance on crypto and that it’s imperative to “still allow the opposition to survive both within Russia and outside.”

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    This cryptocurrency question must be answered on your 2022 tax return Mar 16, 2022

    You'll want to make sure you answer this question correctly on this year's tax return.

    Cryptocurrency has exploded in popularity in recent years, catching the attention of all branches of government. President Biden recently signed an executive order directing the federal government to conduct a more thorough investigation into the "risks and benefits of cryptocurrency."

    Because cryptocurrency is now considered an asset, Uncle Sam is requiring taxpayers to include it on their tax returns for this year.

    Details on what you need to know about this question on your tax return, as well as how taxes work with cryptocurrency, are available.

    This year's tax return includes a crypto question.

    On the first page of this year's IRS 1040 tax return form, you'll find the following question: "At any time during 2021, did you sell, receive, exchange, or otherwise dispose of any financial interest in any virtual currency?"

    According to Eric Bronnenkant, CFP, CPA, and Betterment's head of tax, this is a "gotcha question" because you can only answer with a simple yes or no. This is due to the fact that so many people have entered the world of cryptocurrency without understanding the tax implications. And if you answer 'no,' and the IRS discovers that you had monetary gains or losses with cryptocurrency, you may be committing perjury by lying on a government document, which is a serious offence.

    To avoid any problems with the federal government, there are a few details you should be aware of if you should answer yes or no to this question, as obtained directly from the IRS website.

    You are not required to answer yes if you only purchased cryptocurrency with US dollars or another physical currency and did not sell or exchange it.

    If you received cryptocurrency in exchange for services or goods, it is considered ordinary income and must be reported on your tax return.

    And Mamie Wheaton, a LearnLux financial planner, expanded on those circumstances, saying, "if you sold, exchanged, or used digital assets for purchases, you must check yes."

    If you are unsure whether your crypto positions must be reported, Wheaton recommends "reaching out to the institution holding your crypto assets and requesting a statement or having an associate walk you through your transaction history." She also recommends that you keep a concise record of your crypto assets and transactions for future tax years.

    It's also a good idea to consult with your tax accountant to see what questions you should be answering.

    What you should know about cryptocurrencies and taxes

    Because the crypto world is extremely dynamic and the federal government is still grappling with the emerging technology, the rules and regulations governing it change on a regular basis. However, if you intend to invest in cryptocurrency, keep the following in mind for future tax returns:

    * Keep track of when you bought or mined a specific coin, as well as its current fair market value. While some of this information may be difficult to obtain, the IRS still expects you to keep records. However, beginning in 2023, the IRS will require cryptocurrency brokers to send investors tax forms.

    * If you've incurred losses while trading cryptocurrency, you can deduct them on your taxes in the same way that you can with individual stocks.

    * If you're actively buying, trading, or collecting cryptocurrency, you'll almost certainly need to fill out one or more of the following forms: Form 8949 (logs every purchase and sale as an investment), Schedule D (a summary form of all capital gains or losses from all investments), Schedule C (if you received coins directly from mining them yourself), or Schedule 1 (if your crypto mining is a hobby and not a business).

    This can be a complicated process, so if you're bullish on cryptocurrency, you may want to consider using an online tax service like H&R Block or TurboTax, or a certified tax professional who is familiar with cryptocurrency taxes, to prepare your next tax return. And, thanks to a new partnership between TurboTax and Coinbase, you can now receive your tax refund in cryptocurrency.

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    The future of cryptocurrency is dull. And so cheerful! Mar 16, 2022

    It's important to remember that when it comes to economics, boring can be exactly what you're looking for.

    Crypto markets continue to be riddled with mysteries, but they are beginning to reveal theirs. The last few months of turmoil have demonstrated what Bitcoin and other crypto assets are good for: They are advanced globalisation tools, luxury items for complex, well-functioning markets, not defences against hostile governments' depredations.

    One common story, particularly popular in libertarian circles, is that when inflation becomes rampant and governments seize private wealth, cryptocurrency will be a vital refuge. This story appears to be false more and more.

    Many of the truckers who descended on Ottawa had their bank accounts frozen by Canadian Prime Minister Justin Trudeau in February. That action was quickly reversed, but the message was clear: political opponents' wealth is vulnerable. Payment providers also halted the flow of donated funds to the truckers. You'd think that crypto would have been used as a substitute, but that didn't happen.

    Since then, the rate of price inflation in the United States has risen to 7.9 percent, far higher than was widely expected a year ago. Given the turmoil in the oil and grain markets, European inflation rates appear set to rise as well. Nonetheless, both Bitcoin and Ether prices have fallen precipitously since November, and even more so since the beginning of March.

    Russia's attack on Ukraine has most likely increased the likelihood of a larger war, possibly involving nuclear weapons. However, this has not worked in crypto's favour.

    Wealth confiscation has been used against various Russian oligarchs, mostly in Europe, and the policies appear to be popular. However, one recent crypto price increase appears to be the result of a relatively tolerant executive order on crypto regulation issued by United States President Joe Biden.

    So, rather than considering crypto as a last resort for totalitarian, doomsday, or 'Mad Max' scenarios, I propose a more mundane truth: the future of crypto assets lies in joining the financial and regulatory establishment, rather than rebelling against it. If the majority of the world is going to hell, crypto will suffer. Crypto will be most effective when used in conjunction with other financial networks, rather than as a replacement for them.

    Consider some of the legitimate applications for crypto. Perhaps entrepreneurs will create a significant online metaverse that crosses national borders and allows for fruitful interactions, including commercial ones. For many transactions, particularly micropayments, crypto transfers may make more sense than attempting to process all transactions through existing dollar networks. At the very least, there is the promise that crypto will be faster, more reliable, and more secure.

    When global trading networks and Internet connections are stable, crypto is worth the most in this scenario. They are currently moving in the opposite direction, and as a result, the price of cryptocurrency is falling. The reality is that the crypto world has always been a globalised product.

    Consider DeFi, which stands for Decentralized Finance. DeFi's true potential is in lending across long distances, such as sending funds to the most talented entrepreneurs in Africa or Southeast Asia, or even Russia and Ukraine. That, like the metaverse, is unrealised potential, but it has been and continues to be a possibility. Consider any of the dozens of other productive uses for crypto, which may be currently unnoticed or unimagined, just as NFTs were not 'a thing' until relatively recently. These applications, like loans, will only see their best and most rapid development in a stable and globalised global economy.

    It's encouraging to see so many people donating cryptocurrency to Ukraine's resistance. However, the real future of cryptocurrency is in long-term commerce, not one-time transfers. I can't help but notice that Vitalik Buterin, the creator of the Ethereum blockchain, is from Ukraine. A stable Ukraine, or even Russia, is more likely to produce such value-adding entrepreneurs.

    To be clear, this is not a skeptic's case against cryptocurrency. If cryptocurrency is useful for more than one doomsday scenario, its value should rise in tandem with a stronger and more stable global economy. That is precisely what the current drop in crypto market prices indicates.

    It's also important to set aside the apocalyptic scenarios for cryptocurrency. In such worlds, nothing is likely to work well or have a high value.

    Someday, perhaps — though that day appears to be a long way off — cryptocurrency may well become just another boring financial instrument. If and when that day comes, keep in mind that, when it comes to economic matters, boring can be exactly what you're looking for.

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    What does Zuckerberg’s metaverse mean for cryptocurrency? Mar 14, 2022

    Some marvel at the seemingly limitless possibilities that the metaverse may provide – but should we be a little more cautious?

    Facebook made news in October 2021 when it announced its rebranding to "Meta" and planned to debut its widely awaited metaverse, complete with a social platform called "Horizon."

    The metaverse, according to Meta creator Mark Zuckerberg, would consist of virtual public rooms, game spaces, people's own domains - "home spaces" that users can customise with art and dedicated work areas — as well as whole "worlds" and locales plucked from time.

    According to Zuckerberg, the metaverse is the next step in social networking, moving beyond static user profiles that allow people to only submit comments and photographs.

    People would need to wear VR headsets or augmented reality glasses to get there, which would superimpose the digital environment onto the physical world.

    As fascinating as all of this sounds, there are hazards to consider – and academics are currently debating how crypto might be linked to the metaverse.

    Economic systems that are new

    Meta has already revealed that it is developing cryptocurrency plans as a further expansion of the digital world in everyday life, with the goal of rewriting the script on what it means to buy and own something.

    New economic systems based on cryptocurrencies and NFTs are expected to allow users to buy and sell goods and services available in the metaverse.

    When it comes to NFTs, which are claimed to fuel the growth of the metaverse, gaming businesses that use NFTs as in-game tokens and collectibles will most likely be able to construct virtual economies in the metaverse based on play-to-earn gaming models.

    This concept, however, is not wholly novel in the gaming industry.

    Decentraland, an online community where members can build avatars of themselves and connect, has been experimenting with this concept for quite some time. It even bills itself as "the first virtual world controlled entirely by its users."

    Meta's failed forays into cryptocurrency

    While many people are enthused about the metaverse, others are sceptical about the need for crypto and whether Meta will be able to carry it off.

    This is especially significant given its prior failures to develop its own blockchain and cryptocurrency, both of which are claimed to constitute Meta's original stepping stones into the metaverse.

    The metaverse could exist in the absence of crypto and blockchain technology, but the actual metaverse is inextricably tied with the blockchain notion of an open, interoperable network where virtual assets are transferred and stored via a trustless and verifiable ledger.

    To now, Zuckerberg hasn't revealed any specifics that could shed light on how Facebook's metaverse would interact with blockchain technology. Gary Vee recently disclosed in an interview that he has experimented with numerous metaverses and crypto goods.

    Despite this, interest in the metaverse and cryptocurrency is growing, particularly in what are known as "metaverse cryptos":

    Metaverse cryptos like MANA (for Decentraland), SAND (for The Sandbox Ecosystem), and Enjin Coin are digital currencies linked to decentralised blockchain metaverses where users own and control their experiences, as opposed to their metaverses being owned and controlled by centralised organisations like Facebook.

    As tech behemoths such as Meta strive to dominate the industry, these metaverse cryptos are viewed as a means to sabotage Meta and force the sector towards deeper decentralisation.

    More cryptocurrency exchanges have added metaverse tokens, with the most popular being MANA, SAND, Illuvium, and Axie Infinity, to mention a few. Metaverse bundles have even been produced by exchanges such as CoinSpot, allowing investors to own a stake in the metaverse cryptos available on the site.

    Will Zuckerberg's metaverse alter the crypto game? It's difficult to say right now - but it certainly helps to push crypto into the mainstream, considering its potential exposure to billions of Facebook users.

    Will this be the real-life equivalent of "Ready Player One," or will this technology transport us to worlds we can't even imagine? Time will tell.

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    Three Reasons Why You Shouldn’t Buy or Use a Laptop for Crypto Mining Mar 13, 2022

    One of the worst ideas you can have is to mine cryptocurrency on your laptop. Here are a few of the reasons why.

    We all have different perspectives on cryptocurrency mining. Some people adore it, while others are less enthusiastic. But there are some points on which most of us can agree. One of these is that mining cryptocurrency on a laptop is a bad idea.

    Mining cryptocurrency is best left to desktop computers or custom-built mining rigs. In this article, we'll go over why you should never buy or use a laptop for mining.

    1. It Is Not Profitable to Mine on a Laptop

    For starters, one of the primary barriers to mining on laptops is that laptop GPUs are typically weaker and more expensive than desktop GPUs. There's a reason you can get a gaming laptop while most GPUs are still out of stock — miners aren't interested in laptops, and there's a reason for that.

    Yes, we have Ampere and RDNA 2 GPUs for laptops, and they're excellent for gaming. However, in terms of raw power, a laptop Nvidia GeForce RTX 3080 Ti is roughly as fast as a desktop RTX 3060 Ti in both benchmarks and proper mining performance (hash rate).

    This creates a problem because, in most cases, it will take several months to see anything resembling a return on investment. A laptop with an RTX 3080 Ti will cost between $3,000 and $3,500. According to the Ethereum network's difficulty as of this press, if it mines as well as an RTX 3070, you can expect to earn $2 per day, $60 per month, or $720 per year.

    It will take five years to even see a return on your investment. That's with good thermals, which you don't have—your laptop probably doesn't have enough cooling capacity to efficiently move heat out, and your computer will be constantly thermal-throttling to keep up. And we haven't even accounted for electricity costs—if you have a laptop on a charger drawing power from your wall 24 hours a day, your earnings will be even thinner.

    You'd be better off spending the money on a proper mining rig or a desktop computer. GPUs are still scarce, but if you intend to mine, you're probably better off buying GPUs from scalpers than using a gaming laptop.

    2. Laptops Aren't Designed for Mining

    Then there's the fact that laptops aren't designed for mining and, as a result, shouldn't be used for it. And this isn't just a recommendation from the manufacturer; the way laptops are designed makes it a bad idea.

    To begin, consider why desktop GPUs can generally mine cryptocurrency:

    Desktop computers, particularly mid-tower and full-tower models, have plenty of internal space for components to breathe. And that space is critical. Cryptocurrency mining is a computationally intensive activity that can use your entire GPU, crunching numbers to verify transactions while emitting a lot of heat.

    Desktop GPUs have active cooling—fans or water cooling—to help them dissipate the heat they generate. And the computer case has a lot of internal space as well as powerful intake/exhaust fans to help heat escape from the computer.

    Laptops are no exception. However, they are not designed to withstand the amount of heat generated by mining.

    Laptops, even gaming laptops, have a much thinner profile, and the interior space is far more constrained. The fans installed inside are also much smaller and less powerful. They're adequate for daily tasks, and gaming laptops can even play some games without breaking a sweat. Mining, on the other hand, is a much more strenuous activity. You should consider that mining is usually a 24-hour process, and you're putting a lot of unnecessary strain on your laptop.

    You can not only damage your GPU in the long run, but you can also wear out the teeny tiny fans, which complicates matters even more. Furthermore, heat is not good for your device's battery. In addition, if your laptop gets extremely hot, the battery may degrade. It's a chain of unfortunate events that can cause your laptop to die much sooner than it would otherwise.

    3. The E-Waste Conundrum

    We've already established that forcing your laptop to mine cryptocurrency can hasten its demise, but what happens after it dies? Depending on what you've fried, you might be able to revive it, but most laptops used for mining typically have only one destination—a landfill, where it becomes e-waste.

    In most cases, once a GPU has been ruined by mining, it cannot be repaired, so it must be discarded. With appropriate thermals, the average lifespan of a mining GPU is about half of what it would otherwise be with typical usage. The same thing happens with laptops—if you fry the GPU, depending on the model, you might be able to repair it, but in most cases, it's dead and will be added to the growing e-waste statistics.

    You can also damage other components, which may have varying gravity levels ranging from repairable to completely dead. Nonetheless, everything ends up in a landfill sooner than it should.

    Don't Mine on Your Laptop, Please.

    The moral of the story is that under no circumstances should you mine on your laptop. You run a high risk of damaging it, or at the very least shortening its lifespan, while making very little money.

    You'll be much better off mining in another way. If you only want to use one GPU for passive gains, you can build a desktop PC with plenty of cooling. You can also build a proper mining rig if you want to mine Ethereum, or purchase an ASIC miner if you want to mine Bitcoin.

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    Could Bitcoin Be the Best War Risk Hedging Tool? Mar 11, 2022

    Here are some of the reasons why Bitcoin (BTC) is gaining popularity in the midst of the current geopolitical upheaval.

    Cryptocurrency is now a more widely accepted component of the global financial system. This implies that, for better or worse, it is inextricably linked to international conflict. This is on full display with Russia's incursion into Ukraine. This conflict has caused some price movement for Bitcoin investors recently.

    For a long time, Bitcoin and its crypto peers have traded in a more inverse relationship to equities. This has resulted in a one-of-a-kind situation in which Bitcoin has been a higher-volatility play on the market for the most part. This has not been a good thing given the general direction of the market. Today, we can see this in action, with Bitcoin down more than 7% as the market falls.

    However, Bitcoin has recently diverged from the overall market in a positive way. Let's take a look at whether that can continue and what might be causing it.

    Trading volumes between bitcoin and rouble have reached their highest level since May

    Given the ongoing conflict and the sanctions imposed on Russia, an increase in trading volumes coming out of Russia is perhaps unsurprising. As a result of this news, the BTC-RUB trading pair experienced its highest transaction levels since May. The desire to get money out of the rouble as quickly as possible appears to be the driving force behind this move.

    The Russian rouble recently hit an all-time low. Sanctions have had a significant impact on the Russian economy. As a result, investors considering Bitcoin as a possible hedge against this war have some data to back up their claim that this is what is happening right now.

    In times of geopolitical upheaval, this can be a useful asset

    Bitcoin's outperformance in the face of recent volatility has reignited the bull thesis that Bitcoin could be a market hedge. Whether true or not, this sentiment has allowed Bitcoin to outperform the market in recent weeks. As a result, how Bitcoin behaves in the future will continue to be a major concern for many investors.

    At the moment, I believe it is premature to claim that Bitcoin is a good hedge against anything. This token represents a volatile asset class. However, in these times of geopolitical uncertainty, the potential relative stability that Bitcoin can provide is certainly worth investigating.

    Ultimately,

    Bitcoin is still the world's most popular and well-known cryptocurrency. There are numerous reasons why investors own Bitcoin, including as a store of value and a potential portfolio diversifier.

    However, one of the more intriguing hypotheses underlying this token recently is that Bitcoin may provide some hedging value in light of the macro situation. Time will tell if this thesis proves to be correct. But, at the very least, it's a fascinating discussion to have.

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    Here’s what to expect following Biden’s executive order on cryptocurrency regulation Mar 11, 2022

    President Joe Biden pleasantly surprised the cryptocurrency market by issuing a comprehensive (yet vague) executive order outlining how the government will oversee the burgeoning industry.

    So, what happens next?

    The United States Treasury is leading or participating in the majority of the studies, which range in length from 60 to 180 days on average. Now that the lines have been drawn, it remains to be seen how officials in Washington think and how that translates into crypto policy.

    One report that the agency is tasked with leading concerns the future of payments and money. The issue of a central banking digital currency is one that the administration is expected to investigate thoroughly (CBDC).

    The most pressing questions concern how a digital dollar will interact with stablecoins and other privately issued digital assets, how these relate to the strategic position of the US dollar in general, and the relationship between digital and fiat assets.

    According to senior administration officials, CBDCs will be investigated for use as real-time payments – or whether another option may exist. FedNow, the Fed's upcoming real-time payment system, will allow consumers and businesses to send payments instantly beginning in 2023 and could be a potential test case.

    Officials are considering what needs a CBDC will fill once FedNow is available and real-time payments through that system are more feasible.

    "You could see stablecoins develop more quickly and broadly if there is adequate disclosure, certification of claims, and an audit function," said Chris Giancarlo, former Commodities Futures Exchange Commission Chair.

    "One possible future is that retail payments are made through commercially operated stablecoins and wholesale payments are made through the FedNow payment system," said Giancarlo, who is also the co-founder of the Digital Dollar Project, which has investigated the relationship between societal values and CBDCs.

    As other countries, such as China, promote their own digital currencies, Giancarlo has been advocating for the United States to lead the way in CBDCs.

    "I don't think the United States is a first mover in terms of deploying a CBDC, but we don't want the United States to be a last mover in exploring the technology," Giancarlo told Yahoo Finance. "It's like 5G. China is developing a digital yuan not only for domestic use but also for export."

    He claimed that China will export the basic core CBDC technology to any country that wants to get off the dollar. "It will be CBDC in a box provided by the People's Bank of China," he says. "If you're Cuba, Ecuador, or Venezuela, it'll be something you import from China."

    CBDCs are a controversial topic

    Another major issue that needs to be addressed, according to officials, is the interoperability of a US CBDC with international counterparts, and how that would be structured. Officials say there are also some private projects or multi-central bank projects looking into CBDC clearing and interoperability.

    Biden's executive order encourages the executive branch to take the lead on this potential outcome. If the United States pursues a CBDC, officials consider that a U.S. token would interact seamlessly with the global system, given that the US dollar is the premier reserve currency and central to the global financial system.

    "Adoption of US CBDC could fundamentally alter the role of both central and commercial banking," said Lisa Ledbetter, partner in Reed Smith's Financial Industry Group.

    "Weighing all of the factors in the EO is a policy and practical balancing act. Because a US CBDC would have international ramifications, it is critical that the private sector, foreign central banks, and other stakeholders have a seat at the table "said Ledbetter, who has worked for Freddie Mac, the Federal Deposit Insurance Corporation (FDIC), and the Treasury.

    However, there is no telling what a digital dollar might look like at the end of the process. The Federal Reserve is also being asked to expand on its research paper on the benefits and drawbacks of a CBDC, reflecting how the president's order placed "the highest priority" on such an instrument.

    If the administration determines that a digital dollar is in the best interests of the country, officials will decide whether legislation should be enacted. The Justice Department has been tasked with investigating whether legislation is required to move forwards with a CBDC.

    "Since the Fed is already conducting experiments involving digital currencies and a hypothetical CBDC, I would expect to see the results of that testing make their way into the EO research and next steps," Ledbetter told Yahoo Finance.

    Risks and solutions

    As the crypto industry has grown rapidly, the administration is taking a close look at the risks that cryptocurrencies pose to investors, consumers, and financial stability.

    The EO charges the Financial Stability Oversight Council (FSOC), which was formed following the 2008 financial crisis to monitor risks to the financial system, with researching what systemic risks digital assets pose to the financial system.

    The President's Working Group on Financial Markets (PWG) has already charged FSOC with investigating the systemic risks of stablecoins. Administration officials have stated that they will examine crypto as a whole through a lens similar to the PWG's report on stablecoins. This report highlighted the risks of stablecoin runs, the operational stability of the stablecoin issuance model, and the risks associated with power and commercial business consolidation.

    According to officials, the FSOC could go through a similar exercise to identify risks and solutions. However, an official familiar with the matter told Yahoo Finance that it was unclear whether the FSOC would get too granular about systemic risk – which may be best left to a regulator or legislation.

    Once the reports are completed, the government will have collaborated across agencies to reach a consensus on whether, in certain cases, it needs to hand off a set of recommendations for Congress to write legislation around – or if agencies will write new rules under their authority.

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    Crypto Has Gone Mainstream, But What Impact Will It Have On The Environment? Mar 10, 2022

    Colorado is the first state to announce that it will accept bitcoin and other cryptocurrencies as payment for taxes.

    COLORADO SPRINGS, CO — According to Digiconomist, the carbon footprint of a single bitcoin transaction, which can take several minutes to complete, is equivalent to the power consumption of an average US household for 77 days. That same transaction is worth more than 2.7 million visa card transactions or 200,000 hours of YouTube viewing.

    Bitcoin has a carbon footprint of 114 megatons per year, equivalent to the Czech Republic, and consumes the same 200 terawatt-hours of power as Thailand, a country of nearly 70 million people.

    Regardless, bitcoin and other cryptocurrencies are on the verge of becoming mainstream in Colorado. Gov. Jared Polis announced on Feb. 25 that Colorado will be the first state in the country to accept cryptocurrency for tax payments, raising the question of what further cryptocurrency expansion might mean for the environment.

    An executive order signed by President Joe Biden on Wednesday calling for a more thorough examination of cryptocurrencies also seeks to reduce cryptocurrency's environmental impact, indicating that the technology has a bright future.

    Cryptocurrency, for those who have successfully avoided that side of the internet, is a type of digital money that is represented by computer code and uses encryption technology to ensure its security. The blockchain, an unavoidable term when discussing cryptocurrency, is a digital ledger that records cryptocurrency transactions.

    When it comes to bitcoin, the most popular cryptocurrency, "miners" compete every 10 minutes to solve a complex mathematical puzzle for the right to add blocks of transactions to the ledger. The fastest puzzle solvers are currently rewarded with 6.25 newly created bitcoins, which is equivalent to $245,000.

    According to Mandy DeRoche, an attorney with EarthJustice, the rise in popularity of cryptocurrency has resulted in a noticeable increase in energy use and fossil fuel consumption, resulting in higher carbon emissions across the country.

    "What we've seen in New York over the last few years is that fossil-fueled power plants that were not operating or were only operating on a limited basis are coming back online," DeRoche said. "They're now on duty 24 hours a day, seven days a week."

    According to DeRoche, coal waste plants in Pennsylvania are ramping up operations, and coal waste plants in Montana have reopened.

    "Those are emissions that are destroying the planet," DeRoche said. "There are crypto miners who use renewable energy in part; I'm not aware of any who use it entirely because solar doesn't run 24 hours a day. The economic incentive here is to always be mining."

    As with homes, cars, and other infrastructure, "there aren't enough renewables in the United States yet" to power cryptocurrency mining operations sustainably, according to DeRoche. "Adding another massive load, such as proof-of-work cryptocurrency mining, will completely destabilise everything."

    Bitcoin and ether, the two most important cryptocurrencies, which account for roughly 60% of the sector's market cap, use Proof of Work algorithms. These models are largely responsible for cryptocurrency's substantial carbon footprint and energy consumption.

    Cryptocurrency transactions and businesses use one of two models: Proof of Work or Proof of Stake. Miners compete to solve a mathematical puzzle in Proof of Work. Thieves are discouraged from attempting to sabotage or hijack the blockchain because doing so would necessitate them spending more time, energy, and money than at least 51% of other miners.

    Proof of Stake is a newer, more energy-efficient algorithm in which miners stake digital coins in exchange for the opportunity to validate blockchain transactions. They lose the coins they've invested if they don't verify transactions accurately.

    While some critics believe Proof of Work is obsolete, bitcoin supporters believe Proof of Stake is more centralised and less secure.

    One of those critics is Jeremy Epstein. He works as an investor relations officer for Open Forest Protocol, a startup that hopes to use cryptocurrency and blockchain technology to create carbon offset markets by registering land plots and forestation projects on the blockchain for verification and trading.

    "In the last five years, no cryptocurrency project has used a proof of work model. It is a model that is no longer in use "Patch spoke with Epstein. "Being bitcoin, it will almost certainly remain a proof-of-work protocol in perpetuity, and bitcoin mining is almost certainly the single largest contributor to crypto-based emissions."

    Bitcoin emissions, according to Epstein, will eventually decrease. Ninety percent of bitcoin has already been mined, but because mining becomes more difficult over time, the last bitcoin will not be mined until around 2140, according to Reuters, though determining when the last bitcoin might be mined is not exactly a straightforward equation. According to Epstein, future increases in processing power for mining and the number of miners may work against the increasing complexity of mining over time.

    "Bitcoin has a limited number of tokens — we know there are 21 million bitcoins in existence at any given time; no more can be created," Epstein explained. "And then transactions are still verified using Proof of Work, but I believe that overall, bitcoin emissions should fall."

    The Proof of Work model was also used by Ethereum, the second-largest cryptocurrency. However, the company is currently planning to transition its ether token to Proof of Stake. According to Epstein, the switch will reduce Ethereum's energy consumption and carbon footprint significantly.

    "I believe it will reduce its energy consumption by roughly 99 percent when it does that," Epstein said. "The date for which Ethereum 2.0 is supposed to occur — I believe that has been pushed back a few times, as switching a network to a completely new system is not a small task — but that should occur within the next two years.

    "And when that happens, Ethereum will go from a total energy consumption [equivalent to] 800,000 US households to around 427 US households — it reduces its emissions per transaction by 99 percent."

    According to Epstein, the biggest environmental impact of cryptocurrency is in Proof of Work protocols. He claims that competitors to bitcoin and Ethereum, dubbed 'alt-coins,' are now on the rise "Proof of Stake is becoming more popular, and all of these are based on it.

    "The industry changed in a blink of an eye. Simply put, proof of stake is more effective. Again, it's been five years since anyone has built anything significant on a proof of work platform."

    Apart from the prospect of a growing market for less-impactful cryptocurrencies, Epstein believes that "there's a very good chance the crypto industry supports climate solutions that end up achieving massively beneficial results for the climate, and those beneficial results far outweigh any negative effects that crypto has on the environment over time."

    According to Epstein, cryptocurrency has recently transferred approximately 80% of the world's carbon credits to blockchain technology. A carbon credit is essentially a permit that entitles its holder to a certain amount of glasshouse gas emissions.

    "What this does is it removes poor quality offsets from the market so that corporate emitters can't claim net-zero by buying the most poor quality carbon offsets available; it raises the floor so that they have to buy carbon offsets at a higher price, which drives corporate entities to reduce their emissions more deeply before going and purchasing offsets," Epstein explained. "They delve deeper into their manufacturing processes and the carbon market. So this is having real-world consequences, but I believe we are only scratching the surface right now."

    Colorado's decision to accept cryptocurrency payments for taxes is yet another step towards further normalising the technology, which could eventually lead to more environmental and fiscal regulation for cryptocurrencies.

    "Crypto acceptance in Colorado is just another small domino in an unstoppable wave of crypto eating the world," Epstein said. "When it comes to who is using cryptocurrency now, the adoption curves are essentially analogous to internet adoption in 1998. And it almost exactly follows the internet's adoption curve. Consider what the internet has done for us; this is the new internet, and it should continue to march forwards to the point where everyone is accessing goods and services using blockchain technology, and they may or may not even realise it, and that is the most important thing."

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    Here’s what you need to do to safeguard your digital wallet against cyber attacks Mar 10, 2022

    Every day, cyber-threats grow in scope. However, there is something you can do to safeguard your interests.

    Hacking as a weapon of war (hot or cold) isn't exactly a novel concept. This is already taking place and will continue to take place. Meanwhile, the United States government is struggling to digitally secure its infrastructure because simply being connected to a network is no longer safe. Do you really believe your digital wallet is more secure than the nation's power grid, especially if it's linked to a site run by a tech company, no matter how secure the blockchain appears to be?

    This may sound alarmist, but as a former U.S. Army Signals Intelligence Analyst and Intelligence Advisor currently pursuing a master's degree in intelligence analysis, I am well aware of the dangers. And the dangers are becoming more prevalent.

    The good news is that you can safeguard your cryptocurrency investment right now. It's a technique known as "air gapping." Air gapping is the practise of storing data in a location without a hardline or wireless connection (including a power source).

    By disconnecting your cryptocurrency and storing it in your pocket rather than in the cloud or on a network, hackers are unable to remotely steal or corrupt your data because they must first physically gain access to your wallet. This necessitates the use of a cold storage device, such as a hardware wallet, in the case of cryptocurrency. Consider it a portable hard drive that protects your intangible digital currencies with physical security. You take a risk if you do anything less.

    Do you want to be inspired?

    With each large hack that makes headlines, it becomes clear that, while cryptocurrency strives for decentralisation, the blockchain does have centralisation risks. According to the blockchain security firm Certik, at least $500 million was stolen in 2020. In 2021, hackers targeted DeFi and stole another $1.3 billion. And the year ahead isn't looking promising. An $80 million hack occurred in January. A $320 million DeFi-based hack occurred in early February (though investors were not forced to bear the losses). Billions of dollars are being lost, and if you haven't felt it yet, it's in your best interest to avoid having to.

    Of course, everyone is aware that hacking is a possibility, so why should you be concerned about cyber warfare in particular? The truth is that geopolitical facts are aligning to potentially strike you right in the digital wallet. Globalization has resulted in a more interconnected global economy than at any time in history, but nothing ever goes as smoothly as we would like. Great powers are establishing spheres of influence, while low-intensity conflicts sprout like weeds across Africa, South America, the Middle East, the Pacific, and even Europe.

    Individual investors face a real economic threat from economic decoupling between spheres of influence. Nations like China, North Korea, and Russia will at the very least put it to the test.

    Russian President Vladimir Putin's invasion of Ukraine, as well as the sanctions imposed in response, may be propelling Russia into levels of economic isolation previously only seen in failing or rogue states. While this may not appear to be directly related to your digital wallet, we've already seen cryptocurrency play a role on both sides of the conflict. And Putin is well aware of the significant role that cryptocurrency may play as Russia's economy evolves. He claimed in the run-up to the invasion of Ukraine that Russia had "certain competitive advantages" in crypto-mining.

    Despite a recent official ban on cryptocurrency, China is one of the few powerful nations that has not abandoned Russia in the face of its actions in Ukraine. If the two countries form a crypto-based economic alliance – which doesn't seem likely right now, but isn't out of the question – they may eventually take actions that make keeping your wallet secure pointless. That's because, rather than stealing your cryptocurrency, they could simply devalue it. Beijing appears unconcerned about allegations of market manipulation. If Chinese traders can artificially boost stocks on the NYSE, they can certainly do so with digital coins. The worth of any coin is determined by its majority holder in microtransactions or high-frequency trading manipulations, and given crypto's penchant for pseudonyms, you're unlikely to know who that is.

    For the time being, however, entire nations are ready to steal your cryptocurrency investments. Without cold storage, you're putting your money in the hands of a random tech company, hoping that a coder didn't overlook something. Fortunately, there is an alternative.

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    Dubai’s new crypto framework has the potential to position the city-state as a regional leader Mar 10, 2022

    In the Middle East, Dubai is becoming a burgeoning crypto hub.

    The UAE Prime Minister wishes to position the UAE and Dubai as key players in shaping the global future of virtual assets.

    The Dubai Virtual Assets Regulatory Authority will authorise and monitor the operation and management of cryptocurrency platforms, virtual asset custody, and transfers.

    Sheikh Mohammed bin Rashid Al Maktoum, Ruler of Dubai and Prime Minister of the UAE, made two major crypto-related announcements on Twitter. Aside from approving the first virtual assets law, the Dubai Virtual Assets Regulatory Authority has been designated as the sector's supervisor.

    Dubai has recently emerged as a vital cryptocurrency hub for both investors and creators. It is worth noting that the hotspot has hosted several crypto conferences in the past year, with the upcoming Crypto Expo scheduled to take place this month.

    Furthermore, as the Middle East's financial capital, the UAE is the region's third-largest crypto market, trailing only Turkey and Lebanon, according to Chainalysis data from July 2020 to June 2021.

    The goal, according to Mohammed bin Rashid, is to "establish the UAE and Dubai's position as a key player in designing the global future of virtual assets."

    Meanwhile, Binance, the world's largest cryptocurrency exchange by volume, is rumoured to be interested in obtaining a licence in Dubai. Binance recently received in-principle approval from Bahrain's central bank to become a crypto service provider as part of its Middle Eastern expansion.

    The Dubai Virtual Assets Regulatory Authority will use the new rules to authorise and supervise the operation and management of crypto platforms, virtual asset custody and transfer, and price manipulation in space. The regulator's responsibilities will include, among other things, the protection of investor data.

    The announcement comes just one day after the UAE's Securities and Commodities Authority (SCA) stated that a new framework will ensure AML/CFT compliance across the region. It includes reducing the risks of money laundering and terrorist financing, as well as adhering to the Financial Action Task Force's (FATF) recommendations and requirements, according to the watchdog. It is worth noting that, until recently, the SCA was the sole authority in charge of supervising and overseeing virtual asset activities and services in the UAE.

    According to Reuters, VARA will oversee the virtual asset space in Dubai in the future, but it excludes regions within the state-owned financial free zone DIFC. According to reports, the FSA will oversee the DIFC.

    The DWTCA's director-general, Helal Saeed Almarri, stated that the new law and the appointment of a sector regulator will strengthen the UAE's and Dubai's position by attracting global leaders. He went on to say: "In collaboration with the Central Bank of the UAE and the Securities and Commodities Authority, the Dubai Virtual Asset Regulatory Authority will offer a full range of VA [virtual asset] services."

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    Experts say Biden’s new executive order on cryptocurrency is a positive step Mar 09, 2022

    The White House took a significant step towards regulating cryptocurrency on Wednesday, describing the move as "extremely positive," "long overdue," and a "acknowledgement that cryptocurrency is here to stay."

    According to a White House fact sheet, President Joe Biden signed a new executive order on cryptocurrency, directing federal agencies to implement a strategy for policies and regulations on digital assets such as cryptocurrency.

    "In the long run, this is extremely positive for the crypto market and is absolutely necessary to allow it to grow further, mature, and be more accessible to institutional investors," says Tal Elyashiv, founder of SPiCE VC, a blockchain and tokenization-focused venture capital fund.

    According to experts, the order will help to pave the way for the regulatory clarity required for widespread institutional adoption of Bitcoin and other digital assets. As a result, long-term investors will benefit from greater stability in the notoriously volatile crypto market.

    Biden's order also directs US agencies to ensure that the country's cryptocurrency laws are consistent with those of US allies, and the Financial Stability Oversight Council is tasked with investigating any illicit financial concerns. Furthermore, the order raises the prospect of a new government-issued central bank digital currency.

    Six cryptocurrency experts were asked what they thought about Biden's executive order and what investors should make of it. They stated as follows:

    Experts React to Vice President Biden's Crypto Executive Order

    'A Positive Step'

    Cleve Mesidor, public policy advisor at the Blockchain Association, provides his perspective.

    "It's a step in the right direction that the White House is evaluating digital assets from the standpoint of innovation and competitiveness," said one commentator. According to data, working and middle-class Americans who have been locked out of the traditional financial system are leading the mainstream adoption of blockchain and cryptocurrency. As a result, we need this government strategy to prioritise greater federal investments in skill training and capital access to ensure that new female investors, Black and Latino entrepreneurs, startup founders, and small businesses in urban and rural communities are empowered to lead and thrive."

    'Devises a Strategy'

    Aaron Klein, senior fellow in economic studies at the Brookings Institution, provides his perspective.

    "The executive order lays out a game plan for the administration to consider what to do with digital assets in a more holistic manner." While many parts of the government were already working on regulating aspects of cryptocurrency, the executive order brings it all together and sheds light on how the White House is approaching the issue. The Treasury Department's comments before the Financial Literacy and Education Commission the day before demonstrate the administration's commitment to increasing consumer understanding and, I suspect, eventually increasing regulation for consumer protection in cryptocurrency. "However, that takes time."

    'An Acceptance That Cryptocurrency Is Here to Stay'

    Charlene Fadirepo, crypto expert and founder of Guidefi, offers her perspective.

    "I believe President Biden's executive order on digital assets represents a thoughtful and comprehensive national approach to cryptocurrency regulation," says one commentator. This order recognises that cryptocurrencies are here to stay. The emphasis on financial inclusion and increasing access to safe and affordable financial services encouraged me. "I hope that by addressing the millions of unbanked and underbanked families in this country, we can continue to support the high levels of cryptocurrency adoption among communities of colour."

    'Long Overdue' is a phrase that describes a situation that has been long overdu

    Tal Elyashiv, the founder of SPiCE VC, has expressed his opinion.

    "It's long overdue, in my opinion." The United States is lagging behind the rest of the Western world in terms of developing a regulatory and legislative framework for blockchain in general, and cryptocurrency in particular. There has been significant interest in regulating the space from regulators such as the SEC, Treasury, and the Commodity Futures Trading Commission, but there has also been a lack of clarity and understanding about who has jurisdiction to regulate and how cryptocurrency should be treated. This action may put additional pressure on regulators to reach an agreement on a common approach and, at the very least, implement some regulatory framework."

    'It's a Huge Relieve,' says the author.

    Pat White, CEO of Bitwave, offers his thoughts.

    "It's a huge relief that they're taking a more measured approach and are generally open to digital assets as the cornerstone of the future financial system, as opposed to the naive view that it's only something criminals use," says one. The executive order sparked a massive rally in cryptocurrency markets for a reason: regulatory clarity on digital assets would be extremely beneficial to the industry."

    What Does the Executive Order Mean for Crypto Traders?

    Biden's executive order serves as a timely reminder that U.S. policymakers are paying close attention to cryptocurrency and how it may affect financial markets in the future. However, it should not sway crypto investors' long-term investment strategies.

    According to Elyashiv, the administration's move may cause some disruption and volatility in the cryptocurrency market in the short term. After the White House announced that Biden would sign an executive order on cryptocurrency, Bitcoin jumped 9 percent to above $40,000 per coin. The value of Ethereum increased immediately as well.

    "Markets typically respond in this manner in the face of uncertainty about moves that may be fundamental to the market," Elyashiv explains.

    The fundamentals of cryptocurrency investing, however, remain unchanged. Experts advise only investing what you're willing to lose, or no more than 5% of your total portfolio, and sticking to the most established cryptocurrencies, Bitcoin and Ethereum.

    Prioritize important aspects of your finances, such as emergency savings, debt repayment, and retirement savings, over cryptocurrency investments. And, when it comes to purchasing and trading cryptocurrency, stick with a mainstream, high-volume cryptocurrency exchange, such as Coinbase or Gemini, that proactively complies with federal and state regulators.

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    In a proposed bill, a US Senator wants to sanction foreign cryptocurrency exchanges Mar 09, 2022

    In a new bill aimed at tightening sanctions on Russia, anti-crypto senators in the United States are targeting digital currencies once more.

    Anti-banking and staunchly anti-crypto Senator Elizabeth Warren is resuming her campaign to demolish the digital asset industry. The staunch crypto critic's latest move is to draught legislation. She hopes that it will make it more difficult to use cryptocurrency to avoid sanctions.

    The proposed legislation, which is still in draught form, aims to impose secondary sanctions on foreign cryptocurrency exchanges that have not followed US regulations. According to NBC News, the bill seeks to force companies to choose between doing business in the United States and doing business with sanctioned individuals and organisations.

    In the worst-case scenario, US citizens could be barred from using international cryptocurrency exchanges. However, due to America's harsh regulatory environment, many of them already impose restrictions and limits on US customers.

    Cryptocurrency's Curse

    Last week, Warren and several other Senators wrote to Treasury Secretary Janet Yellen, urging her to take stronger action against cryptocurrency use.

    "Strong sanctions compliance enforcement in the cryptocurrency industry is critical, given that digital assets, which allow entities to bypass the traditional financial system, may be increasingly used as a tool for sanctions evasion."

    Last week, Senator Lindsey Graham joined the call to crack down on cryptocurrency, saying, "cryptocurrency is rearing its ugly head here," before adding, "as you sanction the Russian central bank, which is a good thing, I worry about how the Russians might use the cryptocurrency to stay afloat."

    Warren's proposal also aims to make it easier to verify the identity of those who make transfers using private crypto wallets. Financial institutions would be required to keep detailed records for submission to the Treasury Department.

    Such harsh tactics, however, may not be required, according to the Treasury Department's Financial Crimes Enforcement Network (FinCEN), which stated this week:

    "Although we have not seen widespread evasion of our sanctions using methods such as cryptocurrency, prompt reporting of suspicious activity contributes to our national security and our efforts to support Ukraine and its people," the statement said.

    The European Union is also looking to expand its sanctions to include cryptocurrencies.

    No, Russia will not turn to cryptocurrency.

    Russia will not switch to cryptocurrencies to avoid sanctions on its financial network, as has been widely reported and now widely accepted. Crypto markets lack liquidity to serve Russia's massive forex markets, and digital assets are too volatile to be used as currency.

    Furthermore, Russia has vast reserves of gold and Chinese currency to fall back on. It has already strengthened ties with China in order to avoid Western financial sanctions, so perhaps US Senators should look elsewhere.

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    A banker’s guide to innovative blockchain technology Mar 09, 2022

    If there is one thing we can anticipate from 2022, it is that banks will continue to size up the blockchain space, an area they were previously attempting to avoid. Another apparent certainty is that the blockchain ecosystem will continue to grow, with additional tokens, initiatives, and businesses taking off. Put two and two together, and you get dozens of Blockchain Innovation Officers and Chief Information Officers about to discover what a circus the scene is in general. Here's how to ensure they're not wasting their time.

    While the blockchain ecosystem was once viewed as the digital equivalent of the Wild West, a vast frontier where virtually anything is permissible, the reality is quite different. Circumstances are changing, and the industry has become more benign and receptive to regulation.

    It is, however, massive, with over 7,000 cryptocurrencies available. That is not to say that each venture launches its own coin.

    Additionally, not all cash is created equal. While some of them are armed with a vision and utility, if not an objective, others have little to offer aside from a tokenomics model presumably imagined for them on the Moon. The business embraces open-source design, which enables it to advance through contributions from hundreds of talents, but there is a flip side as well. It's simple for developers to fork, or replicate, a popular venture, slap an underhanded new feature on top of it, along with new branding, and launch it live to earn a quick profit.

    This adds a completely new dimension to the considerations of decision-makers in the crypto space—a number of its segments are driven primarily by virality. For instance, in early 2021, Dogecoin, a meme coin featuring a Web-famous canine as its image, skyrocketed in popularity, eventually becoming one of the primary standard cryptocurrencies. Different development teams saw an opportunity and launched additional Shiba Inu-themed coins, and now there are probably more dogs on CoinMarketCap than in your neighbourhood shelter—and some of these dogs bite hard. Squid Coin, another scam that cost its backers $3.38 million by exploiting a well-liked South Korean present on Netflix, is another illustration of how virality can overwhelm traders.

    Additionally, these examples highlight one of many numerous questions that banks face when attempting to enter the crypto space—what assets do they need to open for their customers? Regardless of its eventual demise, Dogecoin did make a few of its investors wealthy. Or perhaps it is best to stick to the largest and most established currencies? That is just the tip of the iceberg.

    Constructing the inspiration

    The first and most important question that a financial institution's decision-makers should address when developing their blockchain strategy is deceptively straightforward—how far do they need to go? Shouldn't they simply provide clients with access to the top five hottest currencies to purchase and sell? Or is it a full-throttle assault, complete with native staking, DeFi, and everything else that blockchain has to offer? This choice is critical to everything that follows, and a well-defined objective can be extremely beneficial.

    Another query, which is related to the preceding in some ways, is how much threat the financial institution has an appetite for. This is also a critical piece of the puzzle, as the crypto area is teeming with assets and businesses offering a diverse range of risk-to-reward profiles. Banks have a greater stake in any unlucky incident than a younger crypto-native firm, and thus should act with a full understanding of the potential for harm if something goes wrong.

    The ultimate early query is the financial institution's custodial model. Custody, or the ability to store and transfer crypto assets on behalf of customers, is the impetus for banks to offer any type of crypto service. Finally, the choice is between sub-custody, which involves outsourcing custody to a third-party specialist contractor, and self-custody, which involves the financial institution taking on the responsibility directly. Each option is viable, and the optimal choice is highly dependent on the financial institution's objective and risk profile.

    While a detailed discussion of each choice would require a separate article, the general rule is that sub-custody is quicker to implement, but comes with a number of limitations, as any services the financial institution wishes to provide will be contingent upon the accomplice's capabilities. Additionally, it introduces third-party risks. Self-custody requires a greater understanding of the operational theatre and may take additional time to implement, but it provides banks with significantly more flexibility and control over their own business portfolios.

    The Moon's Staircase

    Once the fundamentals are established, banks should delve into the specifics of any specific service they are required to provide. However, the crypto community has long established a set of parameters to examine—and red flags to avoid.

    When it comes to itemising cash for shoppers to purchase and sell, banks should first assess their risk profile. Bitcoin may pose a very different threat than Whatevercoin, which launched yesterday, but the latter could theoretically replicate Dogecoin's meteoric rise by offering shoppers the prospect of appreciable features, unless it turns out to be a rip-off, which is a possibility. To avoid these when selecting new cash to add, banks should follow the following guidelines:

    * The greater the market capitalisation, the higher the price. A large market capitalisation indicates a large and active investor and user base behind a product. This indicates not only that many believe it is secure and legitimate, but also that it has been thoroughly tested by those who use it prior to its integration with the financial institution.

    * Safety by seniority. Generally, older projects, particularly those with a large market capitalisation, are safer and more battle-tested. Their value makes them a lucrative target for hackers, and the more time malicious actors spend attempting (and, ideally, failing) to compromise them, the more robust the initial design was. This statement holds true for both layer-1 and layer-2 protocols.

    * Examine specifics. Different types of money are equipped with varying degrees of utility and flexibility. Several of them support DeFi, while others feature robust native staking. Still others are much more versatile. Banks must ensure that they seek out cash with the capabilities that complement their overall strategy.

    Banks should also conduct due diligence on the developer groups behind the projects they wish to finance. For example, trustworthy developers prefer to work in the open, whereas scammers prefer anonymity and shadows. A whitepaper is frequently indicative of the venture's seriousness. One should make certain to demonstrate the feasibility of the underlying expertise, not just through declarative statements, but also through precise analysis and examination. Another thing to consider is how comparable it is to hundreds of other initiatives: If it is truly unique, it may be a better choice than its competitors. Finally, a whitepaper demonstrates the contributors' diligence. Grammar errors are a red flag—severely so. They demonstrate the degree of polish that the developers are willing to put into a cornerstone strategic document, and if that is lacking, it is fairly telling.

    If a whitepaper enables banks to assess the concepts and theoretical underpinnings of a particular venture, the next step, at the very least with open-source initiatives, is to assess its practical implementation. A code audit is another critical piece of the puzzle, and this is where the crypto world's open-source spirit comes in handy. The majority of initiatives prefer to maintain their supply code on GitHub, which is accessible to researchers. Banks would be wise to have the venture audited by a seasoned third-party team to ascertain whether or not to proceed with the combination.

    After the audit is complete, another critical pre-launch step is testing. Banks should become accustomed to utilising testnets, which are replicas of popular blockchains created specifically for testing purposes. All stable DeFi protocols go through a testnet phase of development, and their testnet variants typically receive all new updates first. As such, testnets make for an incredible surroundings for banks to get a way of what they stand to achieve from an integration earlier than transferring on with it.

    While the blockchain ecosystem provides banks with a plethora of new opportunities and revenue streams, it does require some scouting prior to a profitable takeoff. Banks, on the other hand, can discover it on their own terms and at their own pace by prioritising their priorities and capitalising on available opportunities.

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    To live up to their name, stablecoins will have to think and evolve Mar 06, 2022

    Unfortunately, the term "stablecoin" is a misnomer in this case. The fact that stablecoins are tied to a "real" asset does not imply that they are stable. Traditional underlying assets are not immune to market fluctuations, and the majority of stablecoins are pegged to fiat, making them just as volatile.

    What the name could be, however, is lofty – something that stablecoins could still live up to if they can establish a solid foundation.

    What happened to all of the stability?

    Stability is the currency of the day, at the risk of conflating metaphors. Following the COVID-19 pandemic and ongoing supply chain problems, markets are volatile, debt levels are high, and inflation is skyrocketing. As investors sought alternative wealth storage, cryptocurrency markets benefited. Prices, on the other hand, continue to fluctuate erratically.

    In search of a solution to volatility, the crypto community has turned to stablecoins for the perceived stability provided by their fixed relative valuation. According to a recent report from the Hong Kong Monetary Authority (HKMA), the stablecoin market has grown explosively in terms of market capitalisation since 2020. Payments companies are also jumping on board, with PayPal recently announcing plans to launch its own PayPal Coin, backed by the US dollar.

    That is the crux of the issue. Stablecoins are typically backed by fiat currencies that are becoming increasingly unstable. Governments have printed $17 trillion in new money into the global economy as part of widespread quantitative easing, increasing global debt levels while devaluing currencies that back stablecoins.

    As a result, while the growing trend towards stablecoins is a step in the right direction, it needs to be reconsidered if it is to live up to its name.

    A gold-plated solution

    We can't afford to ignore the potential of stablecoins backed by truly stable assets as governments print more and more fiat. To deliver on the promise of "stability," stablecoins must be accompanied by a broader, more mainstream shift away from supporting inflation-prone fiat currencies and towards more reliable physical assets.

    The most obvious choice is gold. Despite the turmoil that 2021 has brought, the price of gold has remained consistent between $1,700 and $1,950 per ounce, demonstrating both its stability and value.

    However, tying a coin to a fictitious gold reserve is not sufficient. The underlying asset must be fully allocated and redeemable – one gramme of gold for one token, for example. This keeps the coin from deviating from the reality of the asset it represents, as well as from contributing to debt growth.

    If the owner of a stablecoin can directly redeem the asset, it can serve as an effective store of value and medium of exchange, far exceeding the capabilities of modern monetary systems.

    Calls for increased regulatory oversight have been re-issued.

    Such a currency would be possible only in a fully audited system, emphasising the significance of regulation. Ironically, a massive migration to stablecoins based on a somewhat erroneous assumption of stability could be the straw that breaks Jenga's economic tower.

    The recent controversy surrounding Tether (USDT), the most widely used and US dollar-backed stablecoin, allegedly not having the dollars to back their coin, has been dismissed by the company and remains unverifiable because it is essentially unregulated and unaudited.

    The disclosure adds to the growing list of concerns about stablecoin "stability" and what is being done to protect investors.

    Global regulators must continue to provide greater oversight and increase transparency. Indeed, Bank of England Governor Andrew Bailey made his own statement at Davos a year ago, warning that crypto lacked "design governance and arrangements for a sustainable digital currency" and that "people need the assurance that their payments are being made into something with stable value."

    A way out of the inflationary quagmire

    Regardless of their flaws, stablecoins have the potential to help us get out of a post-COVID-19 inflation crisis. They have the ability to preserve wealth and provide a stable store of value while offering traditional investors greater certainty than other digital assets.

    As a result, eradicating the stablecoin myth may be critical to our economic survival.

    To fully benefit from them, they must be tied to a solid foundation in the form of a fully redeemable physical asset, such as gold or silver. This would result in a virtuous circle of stability, with increased institutional support for digital assets and further stabilisation of the market and economy.

    Because of the volatility of cryptocurrency, many businesses, both large and small, are hesitant to use it as a payment method. Stablecoins may hold part of the answer, but their "stability" is far from inherent. Gold and silver, on the other hand, will continue to provide solid foundations for years to come.

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    Why are oil prices continuing to rise? Mar 05, 2022

    A sharp rise in energy prices could be problematic for economies already reeling from the effects of high inflation.

    The oil price shock couldn't have come at a worse time for the global economy, which was already reeling from high inflation. Brent crude, a global benchmark, was trading at around $114 per barrel on March 3, after reaching a 10-year high the day earlier.

    As Russian forces continue to bomb Ukrainian cities, concerns about the disruption of power supplies to global markets are growing.

    According to a JP Morgan analysis of the situation, crude oil could reach $185 per barrel by the end of the year if Russia, the world's third-largest oil producer, continues to face transportation issues.

    Financial sanctions have been imposed on Russian banks and corporations by the United States, Canada, and European Union member nations.

    Despite the fact that the sanctions do not immediately target Russian oil and gasoline infrastructure, they have frightened customers.

    Around 66 percent of Russian oil is struggling to find takers because transport companies and merchants are afraid of being caught in the sanctions trap.

    Consumers are so concerned that they are unwilling to trade in Russian oil, even if it is offered at a steep discount, according to Bloomberg.

    This does not bode well for central bankers who have attempted to tame excessive inflation in a number of developing and developed economies. According to the World Financial institution, excessive inflation has already become a worldwide issue.

    A rise in oil prices will put pressure on the currencies of countries that rely on imports of energy.

    With 5 million barrels per day, Russia is the world's second-largest crude oil exporter, trailing only Saudi Arabia. It also supplies approximately 2.8 million barrels per day of petroleum products, including gasoline, to global markets.

    Russia accounts for 5% of global oil supply. This may appear insignificant, but in a healthy market, each barrel of oil counts, and any disruption can have a significant impact on the price of oil.

    Russian oil has the potential to find buyers in China and India, two massive markets. However, power sale proceeds fund 36% of Moscow's national budget, and a prolonged disruption could cause problems for President Vladimir Putin.

    Some politicians in the United States and elsewhere are calling for direct action to halt the flow of Russian oil and gasoline.

    However, such a transfer does not benefit either the US or the EU because it can drive the value even higher while harming their own populations. In the United States, inflation is already at a 40-year high.

    The sanctions are also intended to harm Russia's oil industry in the long run. The United States and the European Union have prohibited the export of specific refining expertise to Russia, which may face difficulties in producing refined goods such as gasoline if it is unable to improve its refineries.

    A cascading effect

    The EU imports roughly 40% of its pure gasoline requirements from Russia. Until now, Gazprom, Russia's state-owned oil and gas company, has not reduced the availability of gasoline, which is delivered via pipelines to countries such as Poland and Germany.

    This hasn't stopped the price of pure gasoline from skyrocketing. On Thursday, spot costs on the Dutch Title Switch Facility (TTF) hub, a European gasoline value benchmark, hit a record $221 per megawatt-hour.

    Despite the fact that US liquid natural gas (LNG) firms have increased supply to the EU market in recent months, it is nowhere near replacing Russian gasoline.

    Any reduction in Russian supplies will benefit LNG exporters in the United States, which has emerged as the leading producer of pure gasoline as a result of newer drilling methods that extract hydrocarbons from difficult-to-crack shale formations.

    After a long hunch, energy costs began to rise final year as demand from factories and businesses increased after pandemic-induced restrictions were lifted.

    Fears that the conflict will lead to shortages have caused prices for a variety of commodities, ranging from coal to wheat, to skyrocket.

    In terms of oil, there is optimism that a breakthrough in the Iran nuclear deal will pave the way for a major oil producer to ship additional supplies to the market.

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    The Top 5 Metaverse Cryptocurrencies With a Unit Price of Less Than $0.09 (March 2022) Mar 05, 2022

    The Metaverse Cryptocurrency market continues to be dominated by traders and investors looking for the next big thing. While there are already a number of successful multi-billion dollar Metaverse cryptocurrency initiatives on the market, such as Decentraland and The Sandbox, there are also a number of underappreciated and undervalued projects worth monitoring. This article examines our selection of the best five Metaverse crypto coins with a unit price less than $0.09 to watch in March 2022, ranked from lowest to highest by current price.

    #5 Star Atlas (ATLAS): $0.02941

    Star Atlas (ATLAS) is a major Solana-based Metaverse cryptocurrency that was launched in September 2021. Although its Metaverse is still under development, it already has one of the most robust communities behind it.

    Star Atlas is developing a space-themed strategy game that will enable players to earn a living in the Metaverse. It currently has a very active NFT marketplace that users can explore.

    To access the Star Atlas Metaverse, users must connect using a Solana-compatible wallet such as Phantom. Diverse ships, constructions, resources, and treasures are accessible.

    The NFT Marketplace at Star Atlas features an innovative order book-style bidding system that enables traders to bid on NFTs in a manner similar to how standard cryptocurrency exchanges operate.

    Star Atlas's economy is based on a dual token ecosystem comprised of the POLIS and ATLAS digital currencies. The native utility asset is ATLAS, whereas the governance token is POLIS.

    Star Atlas is one of the most anticipated projects on the market and is one to keep an eye on in March 2022.

    ATLAS is available for purchase via Solana-based exchanges such as Raydium and FTX.

    #4 RFOX: $0.0507

    RFOX, alias RedFox Labs, will launch in November 2020 with the goal of being the global leader in next-generation immersive Metaverse experiences focused on media, gaming, and incentives.

    RedFox Labs' ecosystem is powered by its own coin, RFOX. RFOX's primary utilities are the acquisition of NFTs, trading commissions, and liquidity pools.

    Additionally, RFOX has the RFOXVALT, a virtual shopping mall including 25 retailers. RFOXVALT will offer a next-generation virtual shopping experience with the goal of transforming the way we purchase online.

    RFOX may be purchased on Uniswap, Gate.io, and KuCoin, among others.

    #3 Metahero (HERO): $0.05728

    Metahero (HERO), launched in July 2021, is one of the most undervalued projects on this list, with one of the most robust communities. Metahero is building an ultra-realistic Metaverse that will allow users to scan themselves and other physical objects and import them into the digital world.

    Metahero collaborated with Wolf Digital World (WDW), the market leader in 3D scanning technology, which is used by AAA gaming studios such as CD Project RED, creators of Cyberpunk 2077 and The Witcher series.

    Metahero's Metaverse is called Everdome, and it is populated by its DOME token. Everdome just raised over $9.5 million in its presale, and the company recently announced ambitions to conduct a Mars mission from the UAE.

    The native utility asset of Metahero is HERO, which will be used to pay for scanning and other services.

    You can purchase HERO on a variety of exchanges, including Gate.io, PancakeSwap, KuCoin, LBank, Biswap, and CoinEx.

    #2 Genesis Worlds (GENESIS): $0.06177

    Genesis Worlds (GENESIS), which will launch its token in November 2021, is another extremely underappreciated Metaverse crypto coin that has an RPG-style game that incorporates the current crypto trends like as gaming, NFTs, and DeFi. Genesis Worlds will be home to a variety of Metaverses, each of which will feature its own blockchain-based play-to-earn game.

    The platform's native utility asset is named GENESIS, and it is based on Polygon. Several GENESIS utilities include the ability for holders to engage in the project's governance, the ability to receive rewards through staking, and much more.

    Additionally, Genesis Worlds will include a marketplace for NFT. At the moment, users can acquire Mining Claims by connecting to GENESIS via a Web3 wallet such as MetaMask.

    Users can mine GENESIS coins using Genesis Mining Claim NFTs. Each Mining Claim NFT is accompanied by a three-dimensional concept model of the World. Amass Mining Claims in all of your favourite Worlds and create a one-of-a-kind portfolio. The longer people retain their Mining Claims, and the more Mining Claims you possess, the more GENESIS will be mined.

    In general, Genesis Worlds is a must-watch in March 2022 due to the unique prizes that their mining NFTs enable customers to obtain. If you're interested in generating passive income using NFTs, you must visit Genesis Worlds.

    At the moment, GENESIS is only available via QuickSwap.

    #1 ZooKeeper (ZOO): $0.08521

    ZooKeeper, which will launch in April 2021, is a Gamified Yield Farming software that transforms DeFi into a fun and engaging game. The platform integrates cutting-edge cryptocurrency technologies such as NFTs, DeFi, GameFi, and Metaverse.

    ZooKeeper has a sophisticated ecosystem, which includes a decentralised exchange and an automated market maker built on the Wanchain blockchain. Users can earn both ZOO and WASP tokens through ZooKeeper's mining system. Users can earn incentives by supplying the network with liquidity in the form of stablecoins such as USDC and USDT. Other forms of payment are also accepted.

    ZOO is the platform's original utility asset, allowing users to earn rewards for supplying liquidity.

    ZOO is available for purchase on Wanswap and Bitrue.

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