Daily digest for The Frugal Girl, on November 30, 2022

Kristen posted: "I posted this recipe in an Instagram Reel about a year ago, but that's not even faintly helpful for those of you who are not on Instagram. So, I'm giving this its own post so I can easily link to it in the future. It's basically the same thing as t" The Frugal Girl One-Serving Dark Chocolate Microwave Oatmeal Kristen Nov 30 I posted this recipe in an Instagram Reel about a year ago, but that's not even faintly helpful for those of you who are not on Instagram. So, I'm giving this its own post so I can easily link to it in the future. It's basically the same thing as the one-serving microwave oats I've posted before, just with a few tweaks. First up, you mix 1/2 cup of old-fashioned oats, a pinch of salt, 1/2 tablespoon of sugar, and a tablespoon of cocoa powder together. Use a bowl big enough to allow for the oats to bubble up while they cook; otherwise you will have boil-over. I always use dark chocolate cocoa powder because it has such a wonderfully rich chocolate flavor. I use dark chocolate cocoa powder in everything I possibly can, actually. (It made my list of favorite flavor enhancers, after all!) Then you'll need 3/4 cup of liquid; I like to use 1/2 cup milk and 1/4 cup of leftover coffee. But you could use non-dairy milk, you could use water, you could use nothing but coffee...it's really up to you! I also add a splash of imitation vanilla (it's SO much cheaper and you cannot tell the difference in an application like this). Once you add the liquid to the dry ingredients, whisk it all up. Incidentally: a good mini whisk will make your kitchen life 73% better. Then I microwave mine for 2 minutes, give it a stir, and microwave it for one more minute. Microwaves vary like crazy, so you're gonna have to experiment with yours to figure out the sweet spot. I like to top my oatmeal with bananas. And heavy cream, if I have it. On this day I only had half and half. I just make these from memory, but if you'd like a printable, just scroll down!   Comment Unsubscribe to no longer receive posts from The Frugal Girl. Change your email settings at manage subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://www.thefrugalgirl.com/one-serving-dark-chocolate-microwave-oatmeal/ Powered by Jetpack

Daily digest for Cryptofuric, on November 30, 2022

Jay Manaloto posted: " https://www.youtube.com/watch?v=oQQT6r0qQIg https://www.youtube.com/watch?v=UhqfBFNnB_k https://www.youtube.com/watch?v=HIyGF_tFh3s https://www.youtube.com/watch?v=wIAz2RhYcN8 " Cryptofuric Why I Left YouTube Jay Manaloto Nov 30 Comment Like Unsubscribe to no longer receive posts from Cryptofuric. Change your email settings at manage subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://cryptofuric.wordpress.com/2022/11/30/why-i-left-youtube/ Powered by WordPress.com

Daily digest for Crypto World Headline, on December 1, 2022

Rj posted: " Data shows a Litecoin whale has withdrawn $65.5 million in LTC from the crypto exchange Binance, a sign that may prove to be bullish for the price of the coin. A Litecoin Whale Has Taken Out 835.8k LTC From Binance As per data from the crypto transact" Crypto World Headline Litecoin Whale Withdraws $65.5M In LTC From Binance, Bullish Sign? – Crypto World Headline Rj Dec 1 Data shows a Litecoin whale has withdrawn $65.5 million in LTC from the crypto exchange Binance, a sign that may prove to be bullish for the price of the coin. A Litecoin Whale Has Taken Out 835.8k LTC From Binance As per data from the crypto transaction tracker service Whale Alert, two large LTC transfers have been spotted on the chain during the past day. The first of these Litecoin transactions involved the movement of 73,794 LTC, worth just under $5.8 million at the time of the transfer. Massive transfers like these usually belong to a single whale, or an entity made up of multiple investors. Depending on the intent behind them, such transactions may have noticeable impacts on the market. Here are some additional details about the transfer that might shed some light on why it was made: Looks like the sender had to pay a negligible fee of 0.00004518 LTC for the coins to go through | Source: Whale Alert As you can see above, the sending address in this case was attached to a wallet associated with the crypto exchange Binance, while the receiver was an unknown address. Unknown addresses like these are usually personal wallets, and are unaffiliated with any known centralized platform. The second Litecoin transaction saw a whopping 762,073 LTC move on the chain, equivalent to $59.8 million according to the exchange rate at the time of the transfer. Below are the details regarding this transaction. This massive transfer seems to have taken only $0.02 in fees to be possible | Source: Whale Alert It looks like this transaction also went from the crypto exchange Binance to an unknown wallet, much like the other transfer. In fact, both these transactions involved the same sending and receiving addresses, implying the same whale might be behind both of these. Transfers where coins exit the centralized custody of exchanges are called "exchange outflows." Usually, investors withdraw their coins from these platforms for accumulation purposes. Hence, large outflows like the ones observed during the past day can be a sign that whales are accumulating, and can therefore be bullish for the price of Litecoin. LTC Price At the time of writing, Litecoin's price floats around $77.5, down 1% in the last week. Over the past month, the crypto has gained 37% in value. The below chart displays the trend in the price of the coin over the last five days. LTC has been climbing up during the last couple of days after the plunge to $70 | Source: LTCUSD on TradingView Featured image from James Lee on Unsplash.com, charts from TradingView.com, CryptoQuant.com Source link Comment Unsubscribe to no longer receive posts from Crypto World Headline. Change your email settings at manage subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://www.cryptoworldheadline.com/litecoin-whale-withdraws-65-5m-in-ltc-from-binance-bullish-sign-crypto-world-headline/ Powered by Jetpack

Rj posted: " Many in his position would have likely laid low, but disgraced crypto entrepreneur and one-time billionaire Sam Bankman-Fried is nothing if not unusual. In another surprising twist, Bankman-Fried moved into the live phase of his apology tour on We" Crypto World Headline Sam Bankman-Fried's bizarre apology tour goes prime time – Crypto World Headline Rj Dec 1 Many in his position would have likely laid low, but disgraced crypto entrepreneur and one-time billionaire Sam Bankman-Fried is nothing if not unusual. In another surprising twist, Bankman-Fried moved into the live phase of his apology tour on Wednesday, giving a prime-time interview to the New York Times, admittedly against his lawyers' advice. "We messed up big," he said, oftentimes visibly shaking, sipping seltzer or looking down at the ground as he spoke. "I was responsible, ultimately." The interview comes after risky positions and the apparent commingling of assets between the firms saw millions of customers defrauded and billions of dollars in losses for investors. Bankman-Fried took responsibility for a lack of oversight that he said led to a discrepancy regarding risky market positions Alameda Research held with FTX, which he said were not displayed on dashboards the former CEO had been working from to gauge the the two firms' solvency. However, when probed over whether or not he knowledgeably committed fraud and illegally commingled customer assets to back Alameda, Bankman-Fried flatly denied any willful wrongdoing. "I didn't ever try to commit fraud," he said, adding that a month prior he was "excited about the prospects" for FTX. Failure of risk management  Comments from Bankman-Fried come amid an ongoing bankruptcy proceeding for FTX, as authorities continue to investigate the nature of the relationship between Alameda Research and the now-capsized exchange. Embroiled in the fallout of the defunct trading firm and exchange are users who cannot withdraw digital assets as well as a number of crypto lending platforms and companies with assets under the management of, or otherwise exposure to FTX and Alameda Research. The rapid decline of the companies also impacted wider digital asset markets, as some liken it to crypto's version of Enron or the collapse of Lehman Brothers. For his role in the matter, Bankman-Fried said he had not actively managed Alameda to avoid any potential conflict of interest, and failed to appoint administrative staff to manage risk. He said the same of his failure to put someone in charge of the positional risk of FTX customers. The claim of faulty risk management as a credible excuse doesn't appear to be cutting it for some. "He denied that he was involved with any criminal activity and tried to paint the picture that this fiasco was solely the result of poor risk management rather than outright fraud," said Sam Callahan, a bitcoin analyst at Swan Bitcoin, adding that, from his perspective, Bankman-Fried "played the embarrassed, innocent, and clueless founder to perfection." Others were much kinder in their assessment. "Call me crazy, but I think SBF is telling the truth," tweeted billionaire investor and Pershing Square Capital Management CEO Bill Ackman. Call me crazy, but I think @sbf is telling the truth. — Bill Ackman (@BillAckman) November 30, 2022 Before Bankman-Fried's live interview, the New York Times' Andrew Ross Sorkin spoke to a wide range of notable figures and respected business leaders including Meta CEO Mark Zuckerberg, U.S. Treasury Secretary Janet Yellen, Netflix CEO Reed Hastings and actor Ben Affleck. Crypto's Lehman moment While Bankman-Fried granted live interviews to the New York Times and ABC News, FTX's new chief executive John Ray told the company's employees earlier this week that Bankman-Fried is not involved in day-to-day operations. Although he has been deposed as FTX's leader, it is likely that Bankman-Fried is still the company's largest shareholder despite accumulating losses of around $8 billion. During her time on stage Yellen called the collapse of Bankman-Fried's FTX "a Lehman moment" for the digital asset industry. "It's a Lehman moment within crypto, and crypto is big enough that you've had substantial harm [to] investors…and that's a very bad thing," she said. Besides Bankman-Fried saying that the largest number of those wronged by his actions were FTX customers, he also said that not only have those close to him been hurt, but that he had had a hard time coping as well. "I've had a bad month," he said. While the live audience laughed, on Twitter some users took offense. "It sounds so disconnected from reality, really disgusting to watch," wrote Julien Bouteloup, founder and CEO at Stake Capital Group Julien Bouteloup. SBF: "I had a bad month" and audience immediately starts laughing... it sounds so disconnected from reality. really disgusting to watch. A stupid Sam but even more stupid audience. https://t.co/Y5Mj3azoP1 pic.twitter.com/Dnd4CMGfbW — Julien Bouteloup (@bneiluj) November 30, 2022 Toward the end of the unusual live interview, the one-time toast of the crypto world was asked if he had been truthful with his answers.  "I was as truthful as I, as, you know, I'm knowledgeable to be," he said. © 2022 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice. 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Rj posted: "LBRY Inc noted that while the company is on its last legs, the underlying protocol and blockchain behind the content platform will carry on. Go to Source Author: Cointelegraph By Brian Quarmby" Crypto World Headline LBRY says it 'will likely be dead' following SEC loss Rj Dec 1 LBRY Inc noted that while the company is on its last legs, the underlying protocol and blockchain behind the content platform will carry on. Go to Source Author: Cointelegraph By Brian Quarmby Comment Unsubscribe to no longer receive posts from Crypto World Headline. Change your email settings at manage subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://www.cryptoworldheadline.com/lbry-says-it-will-likely-be-dead-following-sec-loss/ Powered by Jetpack

Rj posted: "Axie Infinity, like most cryptocurrency games, has provided players with an awful experience. Go to Source Author: Cointelegraph By Mark Long" Crypto World Headline Axie Infinity is toxic for crypto gaming Rj Dec 1 Axie Infinity, like most cryptocurrency games, has provided players with an awful experience. Go to Source Author: Cointelegraph By Mark Long Comment Unsubscribe to no longer receive posts from Crypto World Headline. Change your email settings at manage subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://www.cryptoworldheadline.com/axie-infinity-is-toxic-for-crypto-gaming/ Powered by Jetpack

Rj posted: " ERC-20 began as a simple proposal that has become the standard outline for token launches across blockchain.‍Blockchain Token StandardsTwo of the most common coins and the standards of the two largest blockchains in the world have a lot in common. One " Crypto World Headline What is the Difference Between an ERC-20 and BEP-20 Token – Crypto World Headline Rj Dec 1 ERC-20 began as a simple proposal that has become the standard outline for token launches across blockchain. ‍ Blockchain Token Standards Two of the most common coins and the standards of the two largest blockchains in the world have a lot in common. One of the main drivers for the creation of Ethereum, and its subsequent popularity is the efforts by its developers like Vitalik Buterin and Fabian Vogelsteller who seek to solve the scalability problems with Bitcoin, as well as make interaction with blockchain accessible and flexible. The two largest blockchains in the world, Ethereum and Binance Smart Chain, have developed token standards to increase the efficiency of their chains and the programming process for builders. Now across blockchains, standard token types and programming outlines exist that help guide and facilitate smart contract creation without having to rewrite an entire contract from zero.  An ERC (Ethereum Request for Comments) or a BEP (Binance Evolution Proposal) are proposals that can become programming standards that ensure new tokens perform basic functions like address retrieval, operability with different wallets, and more. They're basically blueprints to help build a token.  These standards come in the place of coded names like ERC-20, BEP-2, or BEP-20. Other proposals across different chains can also affect the function of a network, but technical improvements—like an EIP or BIP, Ethereum, and Bitcoin Improvement Proposals, respectively—are not the same. The ERC or BEP standards are not software for installing but more a checklist when creating a smart contract. Here in this article, we will outline two of the most common token standards in all of crypto and Decentralized Finance (DeFi): ERC-20 and BEP-20. The latter is very much a compatible reproduction of the first, each with equal power on its respective chain.  Source What is ERC-20 Token If you have bought an NFT or traded a token on Ethereum, you've more than likely interacted with an ERC-20 token. These tokens are the standard for most tokens on the Ethereum network. They are easy to use (says the devs!), and the flexibility of the code allows for a great many use cases. The ERC-20 did not start as a grand theory. According to Vogelsteller, the idea was birthed out of a simple proposal by a few coders looking to synthesize tasks and make token production intuitive. The ERC-20, created in 2015, is a foundation to help blockchain developers and programmers make their tokens interoperable across the Ethereum chain.  One of the most critical aspects of the ERC-20 is flexibility. It allows tokens and other software to integrate the same standard to facilitate faster, effective, and global transactions. Following these ERC-20 standards keeps protocols aligned on basic functions while granting the ability to capitalize on the openness available on Ethereum.  The ERC-20 is listed as having six key features that its keeps in uniform. In "code speak" they are known effectively: balanceOf , totalSupply, transfer, transferFrom, approve, and allowance. For the laymen out there, these actions allow for the viewing of account token balances, viewing total token supply details, showing how a user sends a token, and allowing automated sending on behalf of the owner, plus more.  Source The standard can be used for developing a variety of different tokens. From the creation of the most common stablecoins to Non-Fungible Tokens and DeFi assets, the ERC-20 is one of the backbones to all of cryptocurrency. The original ERC-20 is a major milestone in the history of cryptocurrency and blockchain. It helped a myriad of users realize enormous potential on Ethereum and opened the doors to more networks and blockchains to do the same. Young, emerging developers and can focus their energy on building new protocols.  A nod to the incredible flexibility of the ERC-20 is how easily the standard and outline can be replicated on a new blockchain like Binance Smart Chain... What is the BEP-20 The Binance Smart Chain was originally envisioned as an alternative to Ethereum, and the compatibility runs deep. The BEP-20 token emerged as an extension of the ERC-20 standard for the Binance Smart Chain.  The BEP-20 gives developers and programmers on Binance Smart Chain the same flexibility as the ERC-20 on Ethereum. It affords a programmer-friendly outline to help launch tokens of all varieties on the Binance Smart Chain. The same functions like transfer, balance, and allowance are possible. Source Like its ERC-20 counterpart, the BEP-20 opens the doors to other software and services. However, unlike the ERC-20, the BEP-20 is also interoperable with its Binance companion BEP-2. The two Binance standards BEP-2 and BEP-20, for Binance Chain and Binance Smart Chain, respectively, are both fuelled by BNB.  The two Binance tokens are compatible and complementary to each other. BEP-20 and BEP-2 tokens can be swapped equally. BEP-20, and the BSC network in general, act as the more decentralized network in the Binance ecosystem.  Something important to remember is that ERC-20 and BEP-20 tokens are not exactly be swapped anywhere. Users will need a proper asset bridge to ensure the tokens swap correctly. Nowadays, many wallets and exchanges—like Trust Wallet, MetaMask, and Binance Wallet—allow equal swaps directly on their platforms.  Always make sure you are making the proper swap, or you could lose your funds. Not all platforms are interoperable. Coinbase is notably incompatible with BEP-20 tokens. Any BEP-20 tokens sent to a Coinbase wallet will be trapped until further notice.  Source The First Standard Tokens, But Not the Last The ERC-20 is still the most popular token standard in DeFi. The monumental proposal shows that almost everything in crypto and DeFi should be open for discussion and debate. The ERC-20 was the first, and it is just the beginning of many token standards. As bother Ethereum and Binance push for more deflationary mechanisms within their respective network, we are sure to see more innovations. Both networks have recently implemented new token metrics that will accelerate changes on the separate networks where the downstream effects of these implementations have been yet to be seen. These token standards are likely only the beginning.  The abilities of Ethereum, Binance, and blockchain, in general, go far beyond the token capabilities seen in the ERC-20 and BEP-20. They have each proven to be enormously valuable and are standards of standards at this time. The simplicity was bold, but so was the flexibility.  Hopefully, we continue to see new standards put forward and see that new blockchain standards can mimic the history of ERC-20 and usher in new uses cases.  Nevertheless, the usefulness of ERC-20 and BEP-20 are impossible to ignore until that happens. For those looking for tools and strategies regarding safety and crypto education, be sure to check out the Tutorials, Cryptonomics Explainers, and Trading Tool Kits from BSC News. Be sure to join the DeFi Direct Discord to participate in all the community discussions and events! Source link Comment Unsubscribe to no longer receive posts from Crypto World Headline. Change your email settings at manage subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://www.cryptoworldheadline.com/what-is-the-difference-between-an-erc-20-and-bep-20-token-crypto-world-headline/ Powered by Jetpack

Rj posted: " Solana's weekly chart was green and the metrics supported a positive outlook On the other hand, SOL's Bollinger Band and RSI flashed bearish signals Solana [SOL] has been drifting away from the top ten list of cryptocurrencies in terms" Crypto World Headline Can Solana's NFT space manage to restore SOL's position in the crypto market – Crypto World Headline Rj Dec 1 Solana's weekly chart was green and the metrics supported a positive outlook On the other hand, SOL's Bollinger Band and RSI flashed bearish signals Solana [SOL] has been drifting away from the top ten list of cryptocurrencies in terms of market capitalization for quite a few weeks now. Though Solana failed to impress its investors, growth was witnessed in its NFT ecosystem. Several new NFTs were listed on Solana over the last week, including Claynosaurz, Panda, Pixel Boy, Moo Doo, ACF, and many others.  New Listings Solana #NFTs By Highest Volume in the Last 7D@Claynosaurz#TreasureChests@THELILYNFT#Panda#MooDoo#PixelBoy#HolidayElf#ACF #CactusBOB#Seeker@hyperspacexyz #Solana $SOL pic.twitter.com/7p8HT5ZIc9 — Solana Daily (@solana_daily) November 29, 2022 Read Solana's [SOL] Price Prediction 2023-2024 Interestingly, Dune's data revealed that Solana's NFT transaction volume went up lately. Magic Edan revealed one possible reason for this increase when it congratulated y00ts NFT on reaching over 2,100,000 SOL in trade volume. However, a slight decline was noticed in Solana's active wallets.  Over 2,100,000 $SOL in trade volume Huge congratulations to @y00tsNFT for the massive numbers across not one but TWO collections. LFG! pic.twitter.com/KkPED5QwAW — Magic Eden (@MagicEden) November 29, 2022 Santiment's data regarding SOL's NFT space was not very promising, as according to its chart, SOL's total NFT trade count and trade volume in USD went down over the last week.  Source: Santiment Can Solana NFT help SOL? Considering the nature of these developments, a positive update came in for SOL as its weekly chart was painted green. As per CoinMarketCap, SOL's price increased by 4% over the last seven days, and at press time, it was trading at $13.73 with a market capitalization of more than $4.9 billion. Nonetheless, a look at SOL's daily chart revealed that the blockchain's troubles were far from over. When considering the movement of the Bollinger Bands, it could be seen that SOL's price had entered a squeezed zone. This minimized the chances of a northbound breakout. Furthermore, SOL's Relative Strength Index (RSI) rested way below the neutral mark. This was yet another bearish signal. The Moving Average Convergence Divergence (MACD) gave some hope as it displayed a bullish crossover. Thus, making way for a continued price surge. Source: TradingView The metrics might be helpful While the market indicators were not in favor of Solana, a few of the on-chain metrics displayed some promising information. For instance, after a sharp decline, SOL's development activity went up in the last few days, which was by and large a positive signal for a network. SOL also managed to remain popular in the crypto community as its social volume was up. Furthermore, Solana's Binance funding rate also registered an uptick lately, thus indicating higher interest from the derivatives market.   Source: Santiment Source link Comment Unsubscribe to no longer receive posts from Crypto World Headline. Change your email settings at manage subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://www.cryptoworldheadline.com/can-solanas-nft-space-manage-to-restore-sols-position-in-the-crypto-market-crypto-world-headline/ Powered by Jetpack

Rj posted: " On-chain data shows the Bitcoin NVT golden cross has now entered into the "sell" zone, something that could be bearish for the price of the crypto. Bitcoin NVT Golden Cross Surges, Now Has A Value Of 2.44 As pointed out by an analyst in a CryptoQuant " Crypto World Headline NVT Golden Cross Enters Sell Zone – Crypto World Headline Rj Dec 1 On-chain data shows the Bitcoin NVT golden cross has now entered into the "sell" zone, something that could be bearish for the price of the crypto. Bitcoin NVT Golden Cross Surges, Now Has A Value Of 2.44 As pointed out by an analyst in a CryptoQuant post, this sell signal might lead to BTC's price dropping in the next ten days. The "Network Value to Transactions ratio" (NVT ratio) is an indicator that's defined as the market cap divided by the transacted volume in a specific period. What this metric tells us is how the value of Bitcoin currently compares with the investors' ability to transact coins, and thus if the crypto is undervalued or overvalued right now. One application of this ratio is through the NVT golden cross, which compares the short-term (10-day moving average) and the long-term (30-day moving average) trends in NVT to indicate tops and bottoms in the crypto's price. Historically, the metric's value being higher than 2.2 has usually been a signal to sell, while it being less than -1.6 has been a bullish sign. Now, here is a chart that shows the trend in the Bitcoin NVT golden cross over the last year: The value of the metric seems to have sharply gone up in recent days | Source: CryptoQuant As you can see in the above graph, the Bitcoin NVT golden cross has observed some sharp uptrend recently. The indicator now has a value of 2.44, meaning it has exceeded the 2.20 level that has historically implied sell signals. During late May, the metric saw a similar surge and rose to a peak value of 2.77. When the following month rolled around, BTC went through a huge crash from $30k to $20k. Since the crypto is once again overpriced according to the NVT golden cross, it's possible the coin may go through more drawdown in the coming days. However, as the metric's value is still lower than what it was at the high preceding the June crash, there might be potential for it to rise further, before the actual sell signal is in. BTC Price At the time of writing, Bitcoin's price floats around $16.8k, up 2% in the last seven days. Over the past month, the crypto has lost 19% in value. Below is a chart that shows the trend in the price of the coin over the last five days. Looks like the value of the crypto has shot up during the last couple of days | Source: BTCUSD on TradingView Featured image from Mark Basarab on Unsplash.com, charts from TradingView.com, CryptoQuant.com Source link Comment Unsubscribe to no longer receive posts from Crypto World Headline. Change your email settings at manage subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://www.cryptoworldheadline.com/nvt-golden-cross-enters-sell-zone-crypto-world-headline/ Powered by Jetpack

Rj posted: " Today we're announcing one of the hardest decisions at Kraken to date. We're reducing our global workforce by approximately 1,100 people, or 30 percent, in order to adapt to current market conditions. We are extremely grateful for the contributions " Crypto World Headline Kraken Takes Steps to Weather Crypto Winter – Crypto World Headline Rj Dec 1 Today we're announcing one of the hardest decisions at Kraken to date. We're reducing our global workforce by approximately 1,100 people, or 30 percent, in order to adapt to current market conditions. We are extremely grateful for the contributions of those impacted by today's announcement and we'll do our best to help them transition to their next opportunity. All impacted Krakenites have been notified as of this morning. Why is this happening? Over the past few years, hundreds of millions of new users entered the crypto space and millions of new clients put their trust in Kraken during that time. We had to grow fast, more than tripling our workforce in order to provide those clients with the quality and service they expect of us. This reduction takes our team size back to where it was only 12 months ago.  Since the start of this year, macroeconomic and geopolitical factors have weighed on financial markets. This resulted in significantly lower trading volumes and fewer client sign-ups. We responded by slowing hiring efforts and avoiding large marketing commitments. Unfortunately, negative influences on the financial markets have continued and we have exhausted preferable options for bringing costs in line with demand. As one of the longest running global crypto exchanges, founded in 2011, we have successfully navigated many market cycles and our strategy has always included thoughtful cost management and spending. These changes will allow us to sustain the business for the long-term while continuing to build world-class products and services in selective areas that add the most value for our clients. How we are handling departures Our priority is to ensure all departing Krakenites receive comprehensive support as they transition from the company. We will offer: Separation pay: We will pay 16 weeks of base pay for all departing Krakenites inclusive of the paid leave period. Performance bonus: For those eligible, we will pay each departing Krakenite their bonus as determined by their manager.  Benefits: We will offer eligible Krakenites 4 months of healthcare continuation coverage inclusive of the paid leave period. All Krakenites will continue to have access to counseling services during this period.  Extension of exercise window: We will extend departing Krakenites' window to exercise their vested stock options. Immigration support: Kraken will provide dedicated visa and immigration support for those currently on company-sponsored visas. Outplacement support: We will provide career support for departing Krakenites, including networking opportunities, job search best practices, interview guidance, and more. Looking ahead Our mission to empower people with new ways to connect and transact is most important to us – it's what keeps me going every day and it's why we're all here. I'm confident the steps we are taking today will ensure we can continue to deliver on our mission which the world needs now more than ever before. I remain extremely bullish on crypto and Kraken. Jesse Powell, Co-Founder and CEO Like this: Like Loading... Source link Comment Unsubscribe to no longer receive posts from Crypto World Headline. Change your email settings at manage subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://www.cryptoworldheadline.com/kraken-takes-steps-to-weather-crypto-winter-crypto-world-headline/ Powered by Jetpack

Rj posted: " Most bitcoin mining stocks tracked by The Block rose alongside Bitcoin, which returned to the $17,000 level by market close, roughly a 3.6% increase from yesterday, according to data from TradingView. BTCUSD Chart by TradingView " Crypto World Headline The Block: Bitcoin mining stock report: Wednesday, November 30 – Crypto World Headline Rj Dec 1 Most bitcoin mining stocks tracked by The Block rose alongside Bitcoin, which returned to the $17,000 level by market close, roughly a 3.6% increase from yesterday, according to data from TradingView. BTCUSD Chart by TradingView TeraWulf shares rose by 14.% today after falling by 7.9% yesterday. The firm made an operational update on Monday that outlined a 76% increase in self-mined bitcoin from September to October and new initiatives to cut its run-rate by 25% over the next 12 months. The firm also announced that it was mining approximately 4.6 bitcoin per day, at a hash rate of approximately 2.0 EH/s.  Argo Blockchain saw its shares fall by almost 13% on the London Stock Exchange, while Cipher Mining fell 12%. Shares of Greenidge Generation Holdings rose today by 13%.  Here's how crypto mining companies performed on Wednesday, Nov. 30: © 2022 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice. Source link Comment Unsubscribe to no longer receive posts from Crypto World Headline. Change your email settings at manage subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://www.cryptoworldheadline.com/the-block-bitcoin-mining-stock-report-wednesday-november-30-crypto-world-headline/ Powered by Jetpack

Rj posted: " Investing in Crypto ETFs has advantages, but there are also downsides to be aware of. SEC approves, Finally! On October 15, the world woke up to the news that the United States Securities and Exchange Commission (SEC) has finally approved Bitcoin Excha" Crypto World Headline What is a Crypto Index Fund – Crypto World Headline Rj Dec 1 Investing in Crypto ETFs has advantages, but there are also downsides to be aware of. SEC approves, Finally!  On October 15, the world woke up to the news that the United States Securities and Exchange Commission (SEC) has finally approved Bitcoin Exchange Traded Funds (ETFs) for the American financial market. On the strength of that news, the price of Bitcoin went on a rally that saw it reach an all-time high of $66,930.  The US SEC had been hesitant for quite a while over approving Bitcoin ETFs, but it now looks like the regulatory giant is gradually warming up to the fact that cryptocurrency is the way to go. Though Bitcoin ETFs were already trading legally in some countries such as Sweden and Canada etc before coming to the US, the US is the world's biggest financial market. As such, getting approved in the US marks a new milestone in the growing legitimacy surrounding the use of cryptocurrencies and their derivatives. While a good number of people know about Bitcoin and other cryptocurrencies, Crypto ETFs are a new concept to many others. In this article, we take a look at Crypto ETFs (of which Bitcoin ETF is an example) to help our readers understand the subject better. What is a Crypto ETF? A Crypto Exchange Traded Fund (ETF) is an investment fund that enables people to invest in a particular cryptocurrency or a group of cryptocurrencies without a need to own or keep the actual crypto assets. However, the price of a Crypto ETF follows the price of the particular cryptocurrency on which the fund is based. We will use a scenario to try and make it clearer: let us say that a company owns a cache of Bitcoin, Ethereum, Solana, and Binance Coin. The company then desires to set up ABC ETF to track the price of those 4 crypto assets. To do so, the company will split the ownership of its crypto assets into shares. These shares of ABC ETF are then listed on a stock exchange. An investor could purchase, say 100 shares at $20 per share. Assuming that in 2 years the crypto assets held in the company's portfolio experienced growth in market value. At the end of the 2 years, the value of each ABC ETF share may have risen to say, $60, and the original investment of $2,000 would then be worth $6,000. We can see that the investor in the above scenario is not in custody of the crypto assets even though his investment is affected by what goes on in the crypto market. The investor simply outsources the custody and management of the crypto assets to the company.  Keep in mind that cryptocurrencies can be very speculative and there is no guarantee that the valuation will always go up. If a crypto asset loses market value, the price of the shares of any ETF that is based on that particular crypto asset will go down as well. Crypto ETFs are regulated instruments like shares/stocks and can be bought or sold on traditional exchanges such as New York Stock Exchange, Toronto Stock Exchange etc Brief History Though it took the US quite a while before licensing Crypto ETFs, they have been around for some time in a few countries.  According to PRNewswire, In October 2015, CoinShares floated the world's first publicly traded Bitcoin ETF on NASDAQ Stockholm and followed it up with the listing of an Ethereum ETF - the Ether Tracker One, in 2017. Earlier in 2021, Canada approved the listing of Purpose Investments' Bitcoin ETF and Evolve's Bitcoin ETF on the Toronto Stock Exchange. United States financial regulators have been much more conservative and hesitant to approve Crypto ETFs. In a May 7th CNBC report, the SEC stated that the potential for fraud and manipulation in the Bitcoin market was a major reason why the regulatory watchdog was cautious. But then, in August the SEC's posture towards Crypto ETFs began to turn positive. Finally, after turning down many applications over the years, the first Bitcoin ETF in the US market - ProShares Bitcoin Strategy ETF, got SEC-approved and commenced trading on the New York Stock Exchange on October 19. Other Crypto ETFs that have gotten SEC approval and are trading include Valkyrie Bitcoin Strategy ETF and VanEck Bitcoin Strategy ETF. Classes of Crypto ETFs Presently, all crypto ETFs fall into one of three categories: In this type, the company that issues the ETF units first buys the actual cryptocurrency. It then creates a fund that equates the value of the crypto. The fund is broken up into shares that are listed on a stock exchange. Investors who subscribe to this type of ETF get exposed to the price movement of the crypto without the hassles associated with owning and managing it.  Stocks-based crypto ETFs gives indirect exposure to the cryptocurrency industry. It is based on the stocks of publicly listed blockchain companies such as Coinbase, or companies whose treasury includes a significant amount of cryptocurrencies (such as Tesla). A good example of this class is Bitwise Crypto Industry Innovators ETF. This type of ETF only gives partial exposure to crypto price movement because its value does not necessarily track the value of a particular crypto. Futures is a type of crypto derivatives. It speculates on the future price of a commodity without a need to purchase the actual crypto. This type of Crypto ETF is based on a futures contract which is an agreement to buy or sell an asset at a specific time in the future and for a specific price. The fund can thus be set up such that an investor can make a profit when the market is in both upward and downward trends, that is, bull and bear markets.  Advantages of Crypto ETFs Here are some of the reasons why people may prefer investing in crypto ETFs instead of directly buying and owning crypto: The prices of some cryptocurrencies such as Bitcoin and Ethereum may be beyond the reach of many people. At the time of writing, 1BTC costs around $57,000 while 1ETH is around $4,000. However, the price of 1 share of a Bitcoin or Ethereum Crypto ETF is far less than those prices. Thus, investors with much less capital can easily invest in a Crypto ETF and still benefit from the price movements of the actual coin.  Involves much less 'trouble' Many people find investing in Crypto ETFs more convenient than getting involved with the actual crypto. Buying crypto means having accounts on a crypto exchange, needing to set up wallets, and a real-time need to always protect one's private keys etc. Some people would rather prefer to delegate the trouble involved with crypto ownership to fund managers while still enjoying the benefits of crypto investment. There are Crypto ETFs that follow the price of more than one crypto asset. Investing in such a multi-asset ETF will give an investor exposure to multiple markets with just one investment. It offers an easy way to diversify one's investment portfolio. Hackers and thieves are an ever-constant threat to any crypto bought and kept on a crypto exchange or wallet. No such risk exists with Crypto ETFs because the investor does not own or keep any cryptocurrencies. Associated Risks All that glitters is not gold, you would say. Yes, crypto ETFs have their downsides too. Some notable downsides include: Perhaps the most famous attribute of cryptocurrencies is volatility. Prices of crypto can swing wildly. Crypto ETFs are not immune to volatility. Any direction the price of the underlying crypto swings, the value of the Crypto ETF will follow it.  Crypto ETFs are still an emerging market. There are not many to choose from. However, with the recent approval from the world's largest financial market - the US, many more Crypto ETFs are likely to spring up throughout the world.  Crypto ETFs are convenient, but the investment company will charge some management fees for the convenience it offers investors. These fees, which are compounded into the cost of 1 ETF share, have to be borne by investors. The stock exchanges where crypto ETFs are traded do not operate round the clock, unlike crypto exchanges that operate 24hrs each day. Choosing to invest in a Crypto ETF means that the investor will potentially miss out on any positive and profitable price movements that happen outside traditional market hours.  Apart from the value of the investment, there may not be much utility associated with crypto ETFs. Buying a Crypto ETF instead of the actual crypto will mean the loss of several exciting utilities which crypto offers such as yield farming, DeFi, GameFi etc Which one should you go for: Crypto or Crypto ETF? It all depends on the preference and goal of each individual. An investor who is only concerned about the long-term investment potential of crypto could choose to invest in ETFs. On the other hand, if an investor prefers to profit from the real-time and short-term benefits of crypto such as means of payment, DeFi, swing trading, etc, buying the actual cryptocurrencies and being in the custody of them would probably be the way to go. Closing Thoughts SEC's approval of Bitcoin ETFs is a significant turning point in favour of the global adoption of cryptocurrencies and their derivatives. In the coming months, we are likely to witness rapid growth in the investment niche of crypto ETFs. As the dust of the excitement crypto ETFs settles, it is important to note that the crypto ETF market is still developing and there is room for amendment in its regulatory framework. Also bear in mind that the value of crypto ETFs is still prone to the volatility of the crypto market. Hence, it may be necessary to avoid allocating a huge percentage of your investment portfolio to such a market still in its regulatory and operational infancy. 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Rj posted: "The total crypto market recovers some lost ground as the contagion risks associated with FTX's collapse begin to look resolvable. Go to Source Author: Cointelegraph By Marcel Pechman" Crypto World Headline Total crypto market-cap hits $850M as Bitcoin and altcoins recover from FTX's collapse Rj Dec 1 The total crypto market recovers some lost ground as the contagion risks associated with FTX's collapse begin to look resolvable. Go to Source Author: Cointelegraph By Marcel Pechman Comment Unsubscribe to no longer receive posts from Crypto World Headline. Change your email settings at manage subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://www.cryptoworldheadline.com/total-crypto-market-cap-hits-850m-as-bitcoin-and-altcoins-recover-from-ftxs-collapse/ Powered by Jetpack

Rj posted: "Speaking the FIA meeting in Singapore, Christy Goldsmith Romero compared the typical crypto investor, who may be of modest means, with the investors the CFTC is used to. Go to Source Author: Cointelegraph By Derek Andersen" Crypto World Headline US CFTC commissioner calls for new category to protect small investors from crypto Rj Dec 1 Speaking the FIA meeting in Singapore, Christy Goldsmith Romero compared the typical crypto investor, who may be of modest means, with the investors the CFTC is used to. Go to Source Author: Cointelegraph By Derek Andersen Comment Unsubscribe to no longer receive posts from Crypto World Headline. Change your email settings at manage subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://www.cryptoworldheadline.com/us-cftc-commissioner-calls-for-new-category-to-protect-small-investors-from-crypto/ Powered by Jetpack

Rj posted: "Like our hunter-gatherer ancestors, Bitcoin's Lightning Network is maturing toward mass adoption through specialization and sophistication.This is an opinion editorial by Roy Sheinfeld, the cofounder and CEO of Breez, a Lightning Network mobile app. A ver" Crypto World Headline Maturation Of The Lightning Network: Growing Up By Going Vertical Rj Dec 1 Like our hunter-gatherer ancestors, Bitcoin's Lightning Network is maturing toward mass adoption through specialization and sophistication. This is an opinion editorial by Roy Sheinfeld, the cofounder and CEO of Breez, a Lightning Network mobile app. A version of this article was originally published on Medium. It's almost tautologically true that specialization within a social system increases with sophistication. In fact, increasing specialization could be one way to define social sophistication. Example One:  Our global society is pretty sophisticated. I know how to create products, ace a trivia contest about "The Wire" and find the best shawarma joints in Tel-Aviv, but I have no idea how to knit, design an efficient photovoltaic cell or where to go rock climbing around Maputo. We're all experts at something, learning more and more about less and less. Compare that with hunter-gatherer societies, where everyone can basically do everything. Everyone can weave a basket, catch a fish, light a fire, sing a song, recite the rules of the tribe, make a shelter, etc. Though their worlds are complex, their societies are simple, with very little internal differentiation or specialization. Example Two:  In the early days of the web, companies like CompuServe and AOL were basically one-stop online shops. They were ISPs providing basic connectivity: email; social media (i.e., chat rooms); content in the form of news, weather and so on; and search, often in the form of an actual curated directory. As the web has become so much more complex, we engage with multiple companies for each of those functions. Including all the writing, editing, commenting, revising and so on — even a simple post like this one will involve the services of a few ISPs, a few email providers, a few cloud storage platforms, a few cloud text editors, a few image repositories and who knows how many background services. And now it's happening to the Lightning Network. Like any social system, our network is constantly evolving, and it looks very different now compared to how it looked in the beginning. Activity related to Lightning is becoming more specialized, and that specialization is both a symptom of and catalyst for the growth of the network. What the invention of the first net must have looked like. How far we've come… (Image: Hans Splinter). And Then There Was Lightning, And It Was Good Back in the early days of Lightning (we're talking, like, 2018), there were basically only two kinds of company. First were the infrastructure companies that built the early implementations of the network. Lightning Labs got started early with lnd. Further north on the same coast, Blockstream was working on c-lightning, which it has since rebranded as Core Lightning. Half a world and a hop or two away, Eclair was emerging in France. Then there were the "wallets," which came in roughly three flavors. The early custodial wallets, like Wallet of Satoshi and BlueWallet, offered relatively-simple UXs, but they took custody of users' funds. The early non-custodial wallets, like Eclair, Zap and SBW, presented the opposite tradeoff: full user custody with a sometimes rocky UX. Fortunately, the second-generation wallets, like Phoenix and Breez followed close behind, and they started treating the user experience holistically, considering both users' desire to self-custody their bitcoin and to move it without manually opening, funding and balancing channels. This was Lightning's proof-of-concept phase. We proponents of Lightning were claiming that it was peer-to-peer money — bitcoin for everyday purchases — and these were the basic technologies needed to transfer bitcoin from one peer to another over the network. If the wallets and protocol implementations had proved unfeasible, there would have been little point in continuing. In effect, it was a community of dozens, maybe hundreds of people, everyone knew everyone else, and we were all working on the same, relatively fundamental problems. It was a simple social system, and there was little internal differentiation. We hunted. We gathered. Domesticating The Nodes Around 10,000 years ago, our hunter-gatherer ancestors got sick of chasing the animals and plants they needed to survive. And who could blame them? Talk about exhausting. So they switched tack and started domesticating plants and animals to have them closer to home. It must have been a great idea because it happened independently in several locations around the world. And this change had momentous consequences: the steepest growth in population ever, the advent of civilization (in the sense of a city-based society) and an explosion of technologies from the wheel and architecture to centralized political systems and writing. The basic idea is that when people tame their environments, they have more time to work on complicated things like tax codes, fad diets and open protocols. Lightning users' environment consists of nodes because nodes mediate all the inter/transactions on the network. Domesticating them was the next step in Lightning's evolution. Once you start domesticating, it's hard to stop — incidentally another case of vertical specialization. (Image: Cinty Ionescu). Just as those early wallets were picking up steam, node-management tech for full nodes started to appear. Some, like ThunderHub and Ride The Lightning, among others, were effectively second-layer, node-management tech, helping users execute operations and adjust the configuration of their nodes. Others, like RaspiBlitz and Umbrel, were designed to help users install and configure nodes. Such node-management tech is easy to overlook in the evolution of Lightning, but it's important because it fosters decentralization, which is a value in itself and a vital means of maintaining the network's robustness. And the next phase of that evolution has already emerged. Voltage, for example, offers scalable, enterprise-grade cloud nodes. Instead of a handy tool to run a node, companies can now rent a fully operational node with the capacity and connectivity they need on demand. Note that the benefits of node-management tech are largely unintended. Just like whoever invented the wheel did not have high-speed rails and Swiss watches in mind, those who started working on node-management tech probably just wanted more features for their own use. However, they're facilitating new network features that are vital to Lightning's robustness and growth (liquidity triangles, LSPs), not to mention how they flatten the learning curve for incoming users. Just like hunter-gatherers achieved a quantitative and qualitative leap in the complexity of their societies when they tamed the things their societies depended on (plants and animals), the second phase in the evolution of Lightning was a process of domesticating the nodes upon which our network depends. Going Vertical Early in the agrarian revolution, and in many places in the world today, farmers actually refine their own products. That is, a shepherd family might make and sell yarn, leather, milk, cheese, meat, sausages and so on that they make themselves. Generally though, the best sausage maker and the best cheese maker specialized to better serve their respective markets. After a few generations, neither can shear a sheep, but together they can compose a charcuterie board that would have shocked their ancestors with its decadence and refinement. The fruits (and meats! and cheeses!) of vertical differentiation and specialization. (Image: Shelby L. Bell). After a few more generations, we have the current scenario where I cannot make cheese or sausage, but I can debug in seven different languages. Just as civilization inevitably underwent (and is always undergoing) a process of vertical differentiation and specialization, which makes it more sophisticated, the current, expected and vital trend in Lightning is that companies are specializing in ever-smaller niches to provide ever-better user experiences. These niches are both functional and geographical. For example, OpenNode quickly added a Lightning point-of-sale (PoS) mode to its existing on-chain offering. We followed soon after with our non-custodial, point-of-sale mode back in early 2020, and a few months later there was a small cadre of point-of-sale solutions for merchants who wanted to accept bitcoin over Lightning. After a little more sophistication, the second phase of building infrastructure began, and ever-more infrastructure companies arose in ever-more vertical niches. For example, some offer PoS with fiat on-ramps (e.g., Strike) and fiat off-ramps (e.g., CryptoConvert, IBEX, etc.). There are also self-hosted, bitcoin-only, PoS solutions operated locally (e.g., lnbits, BTCPay, LNPay, etc.). To serve the variable amounts of liquidity that merchants and users might need (think Spirit Halloween in April versus in September), liquidity marketplaces have opened up. Bitrefill's Thor began selling channels quite early on. Now, liquidity management and channel funding have become a cottage industry in their own right, counting such participants as lightning network+, Magma from Amboss and Lightning Pool. Synonym's Blocktank is on track to become a multi-purpose Lightning service provider (LSP) with a broad palette of services. And bolt.observer is a service tailored to LSPs that helps them to monitor the state of their nodes. The same thing is happening to: Gaming (e.g., Zebedee, THNDR Games) Streaming media (e.g., Breez, Wavlake, Fountain) Financial trading (e.g., LN Markets, Kollider, Loft) Chat and social media (e.g., Sphinx, Zion, Starbackr) News and commentary (e.g., Stacker News) Beyond the functional differentiation, there is also geographical specialization, which makes sense given regulatory differences and localization needs. Bitcoin Beach, though not exactly a company, famously helped to foster the adoption of bitcoin as legal tender in El Salvador by priming the local circular economy in El Zonte. Bitnob is helping Africans stack sats and accept remittances. Vietnam is leading the world in bitcoin adoption for the second year in a row, and one reason is that Neutronpay has been feeding the market with Lightning-based solutions. Also in South East Asia, Pouch.ph has been bringing Lightning to the Filipino masses. So where is this trend of increasing specialization leading? It's no exaggeration to say that there are now more vertical markets, each containing several companies, in the Lightning ecosystem than there were Lightning companies only five years ago. As a social system — a technology and organizational structure through which we interact with each other — Lightning is becoming far more sophisticated. The Future Of Functional Differentiation Specialization is so widespread in social structures because it increases efficiency and productivity, which in turn fosters growth. Although the web of 1995 was structurally far simpler than the web of 2005 or 2015, it became easier to use with each passing decade. As a result, the pool of 16 million early adopters grew by an even billion in a decade, and now nearly 70% of the world's population use it regularly. It might sound counterintuitive, but greater specialization and sophistication feeds growth. Proliferating verticals and functional differentiation are necessary because her problems are not my problems, but we both need Lightning. (Image: Arian Zwegers). And it's how Lightning will grow too. As more and more experts from more and more different fields of activity discover Lightning and integrate it into the solutions they're providing anyway, more and more users will be onboarded — often without even knowing about it. Take Synota for example. They connect Lightning payment apps to smart meters to help make energy payments instantaneous, final and based on real-time prices. Gas and electricity flow in one direction, sats flow in the other. It's a great idea, whatever means of exchange it uses, and it just happens to make more sense with Lightning. If they can deliver efficiency gains to their users, then they'll be onboarding people onto the network who may have never heard of Lightning and not care in the least about multipath payments or anchor channels. For us on the Lightning side, the challenge is going to be making adoption easy without sacrificing the technological integrity of our solutions and to keep the barriers as low as possible for all incoming users, be they LSPs, merchants, consumers, Lightning wizards or complete n00bs. Of course, one way to meet this challenge is with more specialization — different offerings for different user groups. If we get this right, growth will come organically, naturally and inevitably. This is a guest post by Roy Sheinfeld. Opinions expressed are entirely their own and do not necessarily reflect those of BTC Inc or Bitcoin Magazine. Unsubscribe to no longer receive posts from Crypto World Headline. Change your email settings at manage subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://bitcoinmagazine.com/culture/how-bitcoin-lightning-network-matures Powered by Jetpack

Rj posted: "The policy clarification stated that participants cannot make threats, use extortion, or access customer data beyond what is accidental or occurs in good faith. Go to Source Author: Cointelegraph By Tom Blackstone" Crypto World Headline Coinbase clarifies bug bounty policy in response to Uber extortion verdict Rj Dec 1 The policy clarification stated that participants cannot make threats, use extortion, or access customer data beyond what is accidental or occurs in good faith. Go to Source Author: Cointelegraph By Tom Blackstone Comment Unsubscribe to no longer receive posts from Crypto World Headline. Change your email settings at manage subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://www.cryptoworldheadline.com/coinbase-clarifies-bug-bounty-policy-in-response-to-uber-extortion-verdict/ Powered by Jetpack

Rj posted: "The Massachusetts senator, an outspoken skeptic of crypto, applauded the efforts of FDIC acting chair Martin Gruenberg to separate digital assets from banking. Go to Source Author: Cointelegraph By Turner Wright" Crypto World Headline Sen. Warren: Biden administration worked to stop crypto being 'dangerously intertwined' with banks Rj Dec 1 The Massachusetts senator, an outspoken skeptic of crypto, applauded the efforts of FDIC acting chair Martin Gruenberg to separate digital assets from banking. Go to Source Author: Cointelegraph By Turner Wright Comment Unsubscribe to no longer receive posts from Crypto World Headline. Change your email settings at manage subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://www.cryptoworldheadline.com/sen-warren-biden-administration-worked-to-stop-crypto-being-dangerously-intertwined-with-banks/ Powered by Jetpack

Rj posted: "European Central Bank has launched an unprecedented critique of Bitcoin in an article on its website. Ulrich Bindseil and Jürgen Schaff, both of the ECB Market Infrastructure and Payments Division, highlighted the failure of Bitcoin (BTC) to replace or im" Crypto World Headline Bitcoin Is on the Road to Irrelevance, Says ECB Rj Dec 1 European Central Bank has launched an unprecedented critique of Bitcoin in an article on its website. Ulrich Bindseil and Jürgen Schaff, both of the ECB Market Infrastructure and Payments Division, highlighted the failure of Bitcoin (BTC) to replace or improve the monetary system. According to their blog 'Bitcoin's Last Stand' published on Wednesday, Bitcoin has never been used for significant real-world transactions. In their article, they claim Bitcoin's value depends on ongoing support from new investors. They wrote: "Big Bitcoin investors have the strongest incentives to keep the euphoria going." According to the pair, Bitcoin's conceptual design and technological shortcomings make it unsuitable for payments. They also claimed that because Bitcoin does not generate cash flows or dividends, it is also a poor investment. The two cautioned against interpreting increasing regulation as approval. Saying the rapidly growing crypto lobbying class is attempting to position crypto as just another asset class worthy of being a part of investor portfolios. Although Bitcoin has remained relatively stable since the initial November crash, the authors claim this is 'an artificially-induced last gasp before irrelevance.' Bindseil and Schaaf ended their article by criticizing the energy-intensive proof-of-work Bitcoin network as an "unprecedented polluter." They singled out the "mountains of hardware waste" from Bitcoin mining and warned banks of enormous "reputational damage" from promoting the digital currency. The ECB Has A History Of Criticizing Crypto Parliamentarians in the European Union, which recently finalized the text for its Markets in Crypto Assets (MiCA) regulation, expressed doubt about its effectiveness and whether it would prevent future catastrophes. The blog's authors also pointed out that federal authorities in the US had yet to "agree on coherent rules." The ECB has not always been favorable towards cryptocurrency, and it is not alone. Globally, governments and regulators are evaluating their approach to cryptocurrency following the demise of the crypto exchange FTX. Which operated in several countries with little oversight. Efforts to regularize the use of crypto have picked up since the bull market of 2021. Which saw record rates of adoption. In 2018, Yves Mersch, a member of the ECB's executive board until 2020, backed comments by Agustín Carstens, the head of the Bank for International Settlements, who referred to Bitcoin as "a combination of a bubble, a Ponzi scheme, and an environmental disaster". Speaking at an event later on in London, he said global answers are needed to safeguard the financial sector. "Resolute ring-fencing measures might be needed." Mersch later said the "ECB are fully in line with his views and we have similar worries." He presaged recent comments when he said Bitcoin was "far inferior to existing payment options."  In March 2018, Benoît Cœuré, an ECB board member until 2019, co-wrote an article stating that Bitcoin was not the future of a cashless society. "Almost nobody prices goods in bitcoin, few use them for payments, and, as a store of value, they are no better than gambling in a casino," they wrote. "Policymakers are rightly worried about consumer and investor abuses, as well as illicit use." What Is The ECB? The European Central Bank (ECB) is the central bank of the EU. It is responsible for managing the monetary policy of the EU and the 19 European Union members using the euro. It is also one of the most influential financial institutions in the world. The current president of the ECB is Christine Lagarde, a renowned economist who has held the position since 2010. The ECB's main functions include the administration of the EU's monetary policy. The provision of EU member states with financial services, and the organization of EU-wide payments and transfers. It also works to ensure financial stability in the EU through the regulation of financial institutions throughout the member countries. Lagarde has previously advised her son against trading cryptocurrencies and has said she will not touch them. "I like to practice what I preach," she told an audience on the Dutch program College Tour. The central banker has previously said cryptocurrencies are based on nothing. "There is no underlying asset to act as an anchor of safety… I've said all along that crypto assets are highly speculative, highly risky assets." A Predictable Response? For Bitcoiners, the ECB's latest missive against the digital currency is the latest in a long line of predictable attacks. Few reject the claim that Bitcoin is a riskier asset than the world's top-tier fiat currencies, advocates say they are missing the point. "Self-custodial digital assets like Bitcoin and decentralized finance might be irrelevant to centralized intermediaries like banks, stock brokerages, and payment processors, who enjoy a stranglehold on the legacy financial system," says Dennis Jarvis, CEO at Bitcoin.com "However, for many people, Bitcoin and DeFi are highly relevant because they are the solution to the many problems of traditional finance." Others have taken the ECB's attack as a positive sign. "This kind of reaction from traditional economic institutions has become quite common over the years and, in fact, usually signals the beginning of a period of growth for the crypto industry," says Przemysław Kral, CEO at Zonda Global. But the real world interacts in dollars, not Bitcoin. A different way to slice that data is to see what % of transactions were illicit. The report by Chainalysis suggests 0.15% of transactions were linked to crimes. Hmm. So 5% for traditional currency and 0.15% for crypto pic.twitter.com/DxH9BgVNZK — Joel John (@joel_john95) November 30, 2022 One commentator took issue with the claim that "Bitcoin is rarely used for legal transactions." In a Twitter thread, commentator Joel John used a Chainalysis report to conclude that only 0.15% of crypto transactions had been linked to criminal activity. That compares to 5% for fiat currency. When combined with "gambling and scams", that number only rose to approximately 3%. "It is more accurate to say that the folks from the ECB are doing their best to make Bitcoin irrelevant but with little success so far," says Lior Yaffe, co-founder of Jelurida. "Bitcoin is a door opener and a case study into the decentralized economy, it might not have fulfilled its full potential yet, but it is certainly a hint for things to come." Got something to say? Write to us or join the discussion on our Telegram channel. You can also catch us on Tik Tok, Facebook, or Twitter. For BeInCrypto's latest Bitcoin (BTC) analysis, click here The post Bitcoin Is on the Road to Irrelevance, Says ECB appeared first on BeInCrypto. Go to Source Author: Josh Adams Comment Unsubscribe to no longer receive posts from Crypto World Headline. Change your email settings at manage subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://www.cryptoworldheadline.com/bitcoin-is-on-the-road-to-irrelevance-says-ecb/ Powered by Jetpack

Rj posted: "In its latest hearing on FTX, the committee looked to financial officials to assess the impact of FTX's collapse in Europe and suggest a way forward. Go to Source Author: Cointelegraph By Derek Andersen" Crypto World Headline FTX proves MiCA should be passed fast, officials tell European Parliament committee Rj Dec 1 In its latest hearing on FTX, the committee looked to financial officials to assess the impact of FTX's collapse in Europe and suggest a way forward. Go to Source Author: Cointelegraph By Derek Andersen Comment Unsubscribe to no longer receive posts from Crypto World Headline. Change your email settings at manage subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://www.cryptoworldheadline.com/ftx-proves-mica-should-be-passed-fast-officials-tell-european-parliament-committee/ Powered by Jetpack

Rj posted: "As previously announced, the Ropsten network has been deprecated and will be shut down in the coming weeks. Over the past few months, infrastructure providers have gradually stopped supporting the network and validator participation rates have been steadi" Crypto World Headline Ropsten Shutdown Announcement Rj Dec 1 As previously announced, the Ropsten network has been deprecated and will be shut down in the coming weeks. Over the past few months, infrastructure providers have gradually stopped supporting the network and validator participation rates have been steadily declining. **The vast majority of remaining validator nodes will be shut... Go to Source Author: Comment Unsubscribe to no longer receive posts from Crypto World Headline. Change your email settings at manage subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://www.cryptoworldheadline.com/ropsten-shutdown-announcement/ Powered by Jetpack

Rj posted: "Negative newsflow continues to make headlines but BTC's recent move above $17,000 suggests investors are finding reasons to be bullish. Go to Source Author: Cointelegraph By Marcel Pechman" Crypto World Headline Don't' believe the hype — Bitcoin price rally to $17K reflects improving sentiment Rj Dec 1 Negative newsflow continues to make headlines but BTC's recent move above $17,000 suggests investors are finding reasons to be bullish. Go to Source Author: Cointelegraph By Marcel Pechman Comment Unsubscribe to no longer receive posts from Crypto World Headline. Change your email settings at manage subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://www.cryptoworldheadline.com/dont-believe-the-hype-bitcoin-price-rally-to-17k-reflects-improving-sentiment/ Powered by Jetpack

Rj posted: " Binance secures Japanese regulatory approval through purchase of Sakura Exchange BitCoin.. Source link " Crypto World Headline Binance Buys Sakura, Enters Japanese Market – Crypto World Headline Rj Dec 1 Binance secures Japanese regulatory approval through purchase of Sakura Exchange BitCoin.. Source link Comment Unsubscribe to no longer receive posts from Crypto World Headline. Change your email settings at manage subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://www.cryptoworldheadline.com/binance-buys-sakura-enters-japanese-market-crypto-world-headline/ Powered by Jetpack

Rj posted: "Solana price prediction: the Solana coin price was one the most affected coin from the FTX crypto exchange collapse. The coin's market value witnessed a sudden drop from $37.2 to $13 in early November. Following this fall, the price action went sideways, " Crypto World Headline Solana Price Prediction: Is Solana Dead, or Is It Just Panic Selling? Rj Dec 1 Solana price prediction: the Solana coin price was one the most affected coin from the FTX crypto exchange collapse. The coin's market value witnessed a sudden drop from $37.2 to $13 in early November. Following this fall, the price action went sideways, revealing a bullish reversal pattern. Key points The ongoing consolidation in Solana reveals an inverted head and shoulder pattern. The daily-RSI slope shows an evident divergence, bolstering price recovery The 24-hour trading volume in the Solana coin is $286. Million, indicating a 41% gain. Is Solana dead? The FTX crypto exchange was one of the prominent supporters of the Solana ecosystem and an early investor in Serum(DeFi platform on Solana). As a result, the FTX crash caused a huge sell-off in SOL price. Moreover, the weak market condition and the recent announcement from Binance to terminate strategy trading services for Serum(SRM) pairs only intensified the selling pressure on Solana. However, Solana is a highly scalable blockchain network that supports some of the successive DeFi projects. Moreover, the blockchain continues to carry out fast and cost-efficient transactions and can be a suitable platform for mainstream-oriented applications such as NFT, the crypto gaming sector, etc. Thus, is Solana dead? The answer is no. Having said that, the platform needs to resolve the outage issue, which has occurred multiple times this year. Price Analysis Source-Digitalcoinprice The Solana price has been walking a sideways path for over three weeks. During this consolidation, the price action has received significant support from the $13.3 and $11 marks which currently prevent the altcoin from further loss.       Moreover, the SOL price suggests the formation of an inverted head and shoulder pattern in the daily time frame chart. This bullish reversal pattern is often spotted at the market bottom and indicates a positive shift in market sentiment. By the press time, the Solana price traded at $13.5 and tried to sustain above the $13 support. If the buyers manage to hold the above-aforementioned support, the altcoin may rise 10% to hit the $15 neckline resistance. An upside breakout from the neckline barrier will release the trapped bullish momentum and lead to a directional price rally. This technical setup offers a potential target of the same distance from the lowest swing low to the neckline shot from the breakout point. Thus, completion of the inverted H&S pattern, the Solana coin price should to the $18 psychological mark. Conversely, a daily candlestick closing below $13 will offset the bullish thesis. Technical indicator RSI: the daily-RSI slope rising amid a sideways price action indicates the buying momentum is rising at lower levels. This bullish divergence supports the breakout from the $15 resistance. EMAs: the large gap between downsloping crucial EMAs(20,05, 100, and 200) accentuates an established downtrend. Solana price intraday level Spot price: $13.7 Trend: Bullish Volatility: Medium Resistance levels: $15 and $18. Support levels: $13 and $11.5 The post Solana Price Prediction: Is Solana Dead, or Is It Just Panic Selling? appeared first on CoinGape. Go to Source Author: Brian Bollinger Comment Unsubscribe to no longer receive posts from Crypto World Headline. Change your email settings at manage subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://www.cryptoworldheadline.com/solana-price-prediction-is-solana-dead-or-is-it-just-panic-selling/ Powered by Jetpack

Rj posted: " The Ethereum price has finally been able to break above the $1,233 resistance mark. Over the last 24 hours, the coin has registered substantial gains. With the price moving above the $1,233 resistance level, Ethereum price has pictured a positive shor" Crypto World Headline Where Is The Ethereum Price Headed Next After Clearing This Resistance – Crypto World Headline Rj Dec 1 The Ethereum price has finally been able to break above the $1,233 resistance mark. Over the last 24 hours, the coin has registered substantial gains. With the price moving above the $1,233 resistance level, Ethereum price has pictured a positive short-term bullish thesis on its one-day chart. Technical outlook also agreed with the same and depicted a rise in demand for the king altcoin. Buyers will need to stick around for longer than the next couple of trading sessions for ETH to reach above the $1,300 price mark. The price of ETH must remain above $1,200 and $1,230, or else the bears will return. This would mean Ethereum could drop to a psychological floor of $1,000. The altcoin has logged considerable gains over the past week's duration, surging more than 11%. ETH's chart depicts accumulation, which is good for short-term bullish momentum. Ethereum Price Analysis: One-Day Chart Ethereum was priced at $1,260 on the one-day chart | Source: ETHUSD on TradingView ETH was exchanging hands at $1,260 at press time. The next area of resistance for the altcoin stood at $1,280. It is, however, too early to determine if the altcoin has stabilized over the $1,230 price mark. It needs to trade above the $1,260 zone for the next trading sessions for the bulls to strengthen further. In case of this, the other price ceiling crucial for ETH's upward movement was $1,350. On the other hand, a fall from the current price zone will take the price to $1,200 and then straight to $1,000. The amount of Ethereum traded in the last session increased, which showed bullishness. Technical Analysis Ethereum registered positive buying strength on the one-day chart | Source: ETHUSD on TradingView ETH had nosedived into the selling zone at the beginning of this month; however, the altcoin has finally moved closer to the positive buying zone. The Relative Strength Index shot up to the neutral zone after remaining in the selling zone most of the month. This indicated that demand for the altcoin had returned to the market. A continued push from buyers will drag the indicator past the 50-mark, depicting more buyers than sellers. In relation to that, the Ethereum price moved above the 20-Simple Moving Average line, which meant that buyers were driving the price momentum in the market. Ethereum displayed a buy signal on the one-day chart | Source: ETHUSD on TradingView In correspondence to other indicators, the altcoin depicted a buy signal on the one-day chart. The Moving Average Convergence Divergence (MACD) indicates price momentum and trend reversal. MACD formed green signal bars above the half-line, indicating that if buyers acted on them, ETH would give returns. Bollinger bands depict price volatility and fluctuation; the bands were narrow, indicating price stability for Ethereum. Source link Comment Unsubscribe to no longer receive posts from Crypto World Headline. Change your email settings at manage subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://www.cryptoworldheadline.com/where-is-the-ethereum-price-headed-next-after-clearing-this-resistance-crypto-world-headline/ Powered by Jetpack

Rj posted: " CAKE planning to bring a new Syrup Pool/Farm on PancakeSwap However, days ahead might get harder as metrics and indicators were not supportive PancakeSwap [CAKE] recently revealed that they have been working with Hashflow to bring a ne" Crypto World Headline PancakeSwap's progress may not sit well with investors, is CAKE the culprit – Crypto World Headline Rj Dec 1 CAKE planning to bring a new Syrup Pool/Farm on PancakeSwap However, days ahead might get harder as metrics and indicators were not supportive PancakeSwap [CAKE] recently revealed that they have been working with Hashflow to bring a new syrup pool and farm to PancakeSwap. Before voting on PancakeSwap, the hashflow must receive more than 60% support for the syrup pool and farm. Hey community members, We have been working with Hashflow to bring you a BRAND NEW Syrup Pool/Farm on PancakeSwap. For the Syrup Pool and Farm to happen, the vote needs more than 60% positive votes on Hashflow itself, before it can be voted on PancakeSwap. pic.twitter.com/vReAlutILT — PancakeSwap #BSC (@PancakeSwap) November 29, 2022 Read PancakeSwap's [CAKE] Price Prediction 2023-2024 Furthermore, CAKE also topped the list of projects that were the most viewed and trending on CoinMarketCap, and a possible reason for this might be the aforementioned update. Apart from CAKE, QUACK and BabyDoge also made their place in the top three. Most Trending & Viewed Projects on @CoinMarketCap $CAKE @PancakeSwap $QUACK @RichQuack $BABYDOGE @BabyDogeCoin$DOGE @BabyDogeCoin The Top trending cryptocurrencies that people are searching for on #CoinMarketCap#BNB #BSC #WEB3 pic.twitter.com/vBoHEbQ3Ou — BSCDaily (@bsc_daily) November 29, 2022 With all these developments on the chain, CAKE's price action decided to take the opposite route. As of 30 November, CAKE registered negative daily gains. CoinMarketCap's data revealed that at the time of writing, CAKE was down by nearly 1% in the last 24 hours. Furthermore, CAKE was trading at $3.96 with a market capitalization of more than $622 million. Let's have a look at CAKE's on-chain metrics to understand what the last weeks of this year might have in store for it. Is CAKE's goodwill dwindling? Santiment's data revealed that CAKE's daily active addresses kept declining over the last month. This indicated a lower number of users present on the network. Moreover, CAKE's weighted sentiment was also considerably lower, suggesting less popularity for the token in the crypto community. Source: Santiment However, the Market Value to Realized Value (MVRV) ratio gave slight hope as it registered upticks. This indicated a price hike in the coming days. Furthermore, CAKE's burn rate was optimistic, with over 6 million CAKE tokens worth $27 million burned. Source: Santiment Can the market indicators give relief? Most of the market indicators also painted a bearish picture for CAKE, which suggested that investors might have a hard time ahead. For instance, the Chaikin Money Flow (CMF) registered a steep downtick, which was bearish. Moreover, the Exponential Moving Average (EMA) Ribbon revealed that the bears had the upper hand in the market as the 55-day EMA was resting above the 20-day EMA. Nonetheless, CAKE's Relative Strength Index (RSI) provided some much-needed relief by going up during the last few days. This could be a sign of a price surge in the coming days. Source: TradingView Source link Comment Unsubscribe to no longer receive posts from Crypto World Headline. Change your email settings at manage subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://www.cryptoworldheadline.com/pancakeswaps-progress-may-not-sit-well-with-investors-is-cake-the-culprit-crypto-world-headline/ Powered by Jetpack

Rj posted: " The infrastructure of AMM-based decentralized exchanges presents unique trading opportunities, but along with these opportunities come significant amounts of automated trading bots. Variations in liquidity depth, human user base size, and market volati" Crypto World Headline Bot Activity on Decentralized Exchanges – Crypto World Headline Rj Dec 1 The infrastructure of AMM-based decentralized exchanges presents unique trading opportunities, but along with these opportunities come significant amounts of automated trading bots. Variations in liquidity depth, human user base size, and market volatility influence where bots are deployed between DEXs. Continue reading on Messari Source link Comment Unsubscribe to no longer receive posts from Crypto World Headline. Change your email settings at manage subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://www.cryptoworldheadline.com/bot-activity-on-decentralized-exchanges-crypto-world-headline/ Powered by Jetpack

Rj posted: "According to the CEO, the exchange grew too fast to accommodate the fast-growing crypto ecosystem Go to Source Author: Cointelegraph By Judith BannermanQuist" Crypto World Headline Kraken cuts workforce by 30% in an effort to survive crypto winter Rj Dec 1 According to the CEO, the exchange grew too fast to accommodate the fast-growing crypto ecosystem Go to Source Author: Cointelegraph By Judith BannermanQuist Comment Unsubscribe to no longer receive posts from Crypto World Headline. Change your email settings at manage subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://www.cryptoworldheadline.com/kraken-cuts-workforce-by-30-in-an-effort-to-survive-crypto-winter/ Powered by Jetpack

Rj posted: " SCB 10X — the venture unit within Thailand's oldest bank group, Siam Commercial Bank (SCB) group — opened a a 10,000-square-foot web3 collaborative space in Bangkok. Called DistrictX, the space consists of two areas — hacker house and exponential" Crypto World Headline SCB 10X opens new web3 collaborative space in Bangkok: Exclusive – Crypto World Headline Rj Dec 1 SCB 10X — the venture unit within Thailand's oldest bank group, Siam Commercial Bank (SCB) group — opened a a 10,000-square-foot web3 collaborative space in Bangkok. Called DistrictX, the space consists of two areas — hacker house and exponential hub — SCB 10X said. The hacker house includes a six-month incubation program in which SCB 10X will recruit developers and entrepreneurs to build web3 startups and create potential unicorns. The exponential hub is a co-working space for SCB 10X's partners, which include Fireblocks, Nansen, The Sandbox and RakkaR Digital. The news comes as support for digital asset projects has become scarce, and shows the company's belief and commitment to the industry. Venture funding in the industry tumbled roughly 35% in the third quarter from the previous one, according to The Block Research. "Collaboration is key during this bear market," Mukaya (Tai) Panich, CEO at SCB 10X, told The Block. "It's important now more than ever to remember that developers — not traders — are the people who are powering this industry and moving it forward. We have always been big supporters of the builder community and believe it's mission critical to nurture and grow the resources that they are able to access." DistrictX had been under development since April, Panich said. She declined to comment on how much SCB 10X spent. SCB 10X plans to incubate six startups by the first half of 2023, said Panich, adding that the firm is interested in areas such as web3 infrastructure, DeFi and gaming or metaverse. As for DistrictX's co-working space, Panich said it is fully occupied by SCB 10X's portfolio companies and partners, but it can be expanded to other firms in the future. The co-working space's prices are competitive compared to other co-working spaces, Panich said. SCB 10X was established in 2020 with a "moonshot mission" to achieve growth through technology innovation and investment. DistrictX will host "moonshot meetup," a bi-monthly workshop to engage community by sharing knowledge and building projects. © 2022 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice. Source link Comment Unsubscribe to no longer receive posts from Crypto World Headline. Change your email settings at manage subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://www.cryptoworldheadline.com/scb-10x-opens-new-web3-collaborative-space-in-bangkok-exclusive-crypto-world-headline/ Powered by Jetpack

Rj posted: "BTC and many altcoins are kicking up dust after the Federal Reserve chairman Jerome Powell discussed the possibility of smaller rate hikes in 2023, but is the momentum sustainable? Go to Source Author: Cointelegraph By Rakesh Upadhyay" Crypto World Headline Price analysis 11/30: BTC, ETH, BNB, XRP, ADA, DOGE, MATIC, DOT, LTC, UNI Rj Dec 1 BTC and many altcoins are kicking up dust after the Federal Reserve chairman Jerome Powell discussed the possibility of smaller rate hikes in 2023, but is the momentum sustainable? Go to Source Author: Cointelegraph By Rakesh Upadhyay Comment Unsubscribe to no longer receive posts from Crypto World Headline. Change your email settings at manage subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://www.cryptoworldheadline.com/price-analysis-11-30-btc-eth-bnb-xrp-ada-doge-matic-dot-ltc-uni/ Powered by Jetpack

Rj posted: "The committee chair cited crypto exchange FTX's "alarming fraud", liquidity crunch, and bankruptcy as an example of financial risk Treasury and regulators should address. Go to Source Author: Cointelegraph By Turner Wright" Crypto World Headline Senate Banking Committee chair calls for coordination with Treasury on crypto Rj Dec 1 The committee chair cited crypto exchange FTX's "alarming fraud", liquidity crunch, and bankruptcy as an example of financial risk Treasury and regulators should address. Go to Source Author: Cointelegraph By Turner Wright Comment Unsubscribe to no longer receive posts from Crypto World Headline. Change your email settings at manage subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://www.cryptoworldheadline.com/senate-banking-committee-chair-calls-for-coordination-with-treasury-on-crypto/ Powered by Jetpack

Rj posted: "Fed Chair Jerome Powell Speech Today: Fed Chair Jerome Powell said smaller interest rate hikes could start in December. U.S. Federal Reserve chairman Jerome Powell spoke on the economic outlook, inflation, and the labor market, at a Brookings event on Wed" Crypto World Headline Powell Speech Today: Smaller Interest Rate Hikes In December, Crypto Price Up Rj Dec 1 Fed Chair Jerome Powell Speech Today: Fed Chair Jerome Powell said smaller interest rate hikes could start in December. U.S. Federal Reserve chairman Jerome Powell spoke on the economic outlook, inflation, and the labor market, at a Brookings event on Wednesday. In his initial remarks, Powell acknowledged that the inflation remained high. The truth is that the path ahead for inflation remains highly uncertain, he said. Also Read: Blackrock CEO Larry Fink Says FTX Failed Due To FTT Token Long Way For Restoring Price Stability Powell further said it would take substantially more evidence to give comfort that inflation is actually declining. He added that there is a long way to go in restoring price stability. Despite the tighter policy and slower growth over the past year, Powell said, there are still no signs of lowering inflation. "We have not seen clear progress on slowing inflation, he said during the event. Powell said the full effects of our rate increases have been yet to be felt. "History cautions against prematurely loosening policy. We will stay the course until the job is done. Inflation remains far too high. The time for moderating hike pace may come as soon as December." Crypto Prices In Green The Fed chair also stressed on the need for raising interest rates to levels to bring inflation to 2%. Meanwhile, the cryptocurrency prices rose in response to Powell's comments. In the last one hour, Bitcoin (BTC) price rose 0.71% while that of Ethereum (ETH) rose 0.84%, according to price tracking platform CoinMarketCap. As of writing, Bitcoin (BTC) price stands at $16,902, up 3.03% in the last 24 hours. Also Read: The impact of Blockfi's Bankruptcy on The Top 10 Cryptocurrencies Overall, the cryptocurrency market turned green following Powell's opening remarks. Meanwhile, the NASDAQ Composite Index rose 2.40% during the day, in response to the Federal Reserve chair's comments. The post Powell Speech Today: Smaller Interest Rate Hikes In December, Crypto Price Up appeared first on CoinGape. Go to Source Author: Anvesh Reddy Comment Unsubscribe to no longer receive posts from Crypto World Headline. Change your email settings at manage subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://www.cryptoworldheadline.com/powell-speech-today-smaller-interest-rate-hikes-in-december-crypto-price-up/ Powered by Jetpack

Rj posted: " The first step to trading efficiency is the education on how to trade, and it starts by understanding order types.‍IntroductionWhether as a newbie or advanced trader, you're probably familiar with the different order types available in various crypto e" Crypto World Headline Trading Toolkits: Order Types Explained – Crypto World Headline Rj Nov 30 The first step to trading efficiency is the education on how to trade, and it starts by understanding order types. ‍ Introduction Whether as a newbie or advanced trader, you're probably familiar with the different order types available in various crypto exchanges.   These order types allow users to trade across varying markets and multiple tools.  It is necessary that traders are familiar with the different order types available in the market and to execute the most efficient market transactions. In this guide, the order types are explained. Makers Vs. Takers Before exploring the different order types available in the market, understanding Makers' and Takers' role is vital information needed by market participants. Makers and Traders are both traders executing orders through an exchange. They are respectively the liquidity providers and the liquidity takers needed for an exchange to thrive. Trade execution occurs when buy orders meet sell orders. Makers make the trade; they set up-sell or buy orders entered into the order book and bring liquidity to the exchange. For example, a trader is willing to sell his 10 BTC at the value of $55,000; he sets up an open order for willing Takers to take on the trade. Maker orders are typically not executed immediately; their orders make up part of the order book where trade inventories are entered. Takers, on the other hand, take off liquidity from the exchange. They execute market buy or sell orders by taking on Makers open trades. If you've purchased or sold at market price, then you've functioned as a taker of already available orders. Typically takers will utilize limit order to provide depth to a specific market.  Makers have the most rewards because they bring in the liquidity needed for an exchange to thrive. Although big trading firms often act as market makers or liquidity providers for an exchange, smaller or individual traders also take on that role. Despite the reward, one is not without the other as both traders would need the various order types to execute their trades. Limit Orders Trader A believes an asset will increase in value in the nearest future and does not want to execute his trades at the current market level. He ideally sets a sell order at a price in the future. Trade B believes the price of an asset is way too much at the current market price, expecting a correction, he immediately sets up a buy order at a price he believes the asset will drop to in the future. Both Trader A and B explored the Limit Buy and Sell Order, which allows traders to set up an expected entry or exit that is not currently present in the market. Both trades are set up against the future price increase or correction of the asset. Traders who use these trade orders are called Makers. Market Order This order type is instantaneous. Traders who do not want to take on too much time for their orders to be filled make use of the market order type. For instance, Trader A believes the worth of an asset is dirt cheap at the current market price (CMP), and price discovery is on its way, which will blow up the price of the asset. Trader B holding an asset and believes a crash is inevitable; using a market order the trader could immediately exit his position using the tool. Both traders are known as Takers. Limit and Market Order are the two most common Order types in most exchanges. However, as the market continues to grow more Order type gets introduced. Stop-loss Order For most traders, this order type is a necessry aspect of their daily trading experience. As the name specifies, a stop-loss order closes a losing trade when the price is triggered. The stop-loss order is set below the current price level and is not entered into the order book. Trades get stopped out when a percentage price loss is triggered automatically using Market Order. Stop-Limit Order Stop-limit is a modified aspect of the stop-loss order using the limit function. Traders get the option of setting a stop and a limit price, i.e., when your trade set up hits your stop limit, the market immediately sets up a sell limit that takes you off the trade. For instance, your stop price is around $50,000, and the limit price at $51,000. When the price reaches your stop entry at $50,000, a limit order is set up for you at $51,000 to close the trade. The risk associated with this order type is that the price limit might not be realized again due to the high price impact. Therefore, it is advised to set your Stop-limit orders close to each other to take care of market volatility. One-cancels-the-order (OCO) OCO combines the best of both worlds of selling at a target price and setting stop-limit at a given price range. With OCO, traders ensure profit-taking at any point of their preferred targets and protection when the trade takes a different turn. Either win or loss, when one order type is executed, the other order is canceled. For instance, a trader sets his exit at $55,000, his Stop-limit order at $50,000 and $51,000, respectively, when the trade gets to $55,000, it automatically close the orders at $50,000 and $51,000. Good Till Cancel (GTC)  GTC is an instruction for a trade to stay open until it is canceled or executed. This is the present state for the cryptocurrency market since it's a 24/7 market versus the stock market's daily close and the forex market's weekly close. Take Profit Limit Order Trades set up these limit orders to sell or buy when the price reaches a profit target. When triggered, the order executes the trade in profit. This resembles the OCO order type; the difference is that it offers no stop-limit protection but only profit-taking abilities.  Trigger Entry Allows you to enter a position using a trigger mode. For trigger entry order price, the trigger price represents the price that, if reached, will trigger your order and submit a market order. For trigger entry, you have to provide a trigger price and a limit order. Fill or Kill Say a trader is looking at buying 10 BTC worth around $40,000. A fill or kill order either fills the entire 10 BTC order at that price, not partial, or it doesn't execute at all if the price makes a rebound. Immediate or cancel (IOC) IOC is the milder approach to the Fill or Kill order type. With Immediate or Cancel orders, the order can be partially filled. For example, if an order to purchase the earlier 10 BTC is not filled, the amount of BTC that can be loaded is taken, the rest is canceled. Say only 5 BTC is filled, the remaining order is closed to stop any further buying or selling. In closing The first step to trading efficiency is the education on how to trade, and it starts by understanding order types. It comes with a high recommendation that an intending trader first learns the market types and the order types before taking on trades. Learning early before earning has been the mantra for ages, and trade is an industry that quickly exposes individuals without the skills, knowledge, or expertise. Before taking your first trade, ensure you understand the concepts as losses are common with trading ventures. But, with the right knowledge and education, losses are reduced significantly, and profit becomes a consistent experience. Source link Comment Unsubscribe to no longer receive posts from Crypto World Headline. Change your email settings at manage subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://www.cryptoworldheadline.com/trading-toolkits-order-types-explained-crypto-world-headline/ Powered by Jetpack

Rj posted: "The EU has threatened to shut down Elon Musk's Twitter unless the billionaire follows its stringent guidelines for content moderation, igniting a legal war over the survival of the social network. Strict Rules Imposed According to persons with knowledge o" Crypto World Headline Breaking: EU Warns Musk Of Twitter Ban Over Content Moderation Rj Nov 30 The EU has threatened to shut down Elon Musk's Twitter unless the billionaire follows its stringent guidelines for content moderation, igniting a legal war over the survival of the social network. Strict Rules Imposed According to persons with knowledge of the event, Thierry Breton, the EU commissioner in charge of carrying out the bloc's digital regulations, issued the threat during a video chat with Musk on Wednesday. Breton gave Musk a number of requirements to follow, including giving up the practice of restoring banned users in an "arbitrary" manner, combating misinformation "aggressively," and agreeing to a comprehensive independent audit of the platform by the following year. Violations To Be Costly Musk was informed that Twitter risked breaking the EU's new Digital Services Act, a historic law that establishes the global standard for how Big Tech must regulate content on the internet. Breton reaffirmed that under the law, Twitter might be subject to a ban across all of Europe or fines of up to 6% of its worldwide revenue. Musk's Dire Attempts In Vain According to individuals informed on the conversation, the new owner of Twitter vehemently expressed his opinion that the DSA was quite rational, and that he had read the legislation and believed it should be implemented globally. Read More: Elon Musk Says Apple Has Stopped Advertising On Twitter However, Musk, a self-described "free speech absolutist," has said that he would permit all communication on the platform as long as it was legal, although "negative/hate speech" will be "deboosted," and the EU's planned rules seemed to be a direct response to this. Following a user poll on whether the former US president should be permitted to return to the website, Musk has restored Donald Trump's account. Read More: Elon Musk Asks Users To Vote If Trump Should Be Unbanned Kanye West, who was suspended for making anti-Semitic remarks, and Andrew Tate, who was suspended for posting misogynistic material, have both been permitted back to Twitter. Facebook and Instagram continue to block all of them. More Concerns Brewing Senior EU authorities are also worried that Twitter won't have enough employees to follow the new regulations after Musk sacked more than half of its 7,500 employees this month. Breton also urged Musk to implement stringent advertising regulations, such as a prohibition on targeting consumers or children based on sensitive information like their political or religious convictions. The new digital standards for the EU that will be in effect at the beginning of next year are in line with these measures. Read More: Is Twitter Implementing Signal Protocol for Encrypted DMs?   The post Breaking: EU Warns Musk Of Twitter Ban Over Content Moderation appeared first on CoinGape. Go to Source Author: Pratik Bhuyan Comment Unsubscribe to no longer receive posts from Crypto World Headline. Change your email settings at manage subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://www.cryptoworldheadline.com/breaking-eu-warns-musk-of-twitter-ban-over-content-moderation/ Powered by Jetpack

Rj posted: "The messaging platform is building a set of decentralized tools, including noncustodial wallets and decentralized exchanges. Go to Source Author: Cointelegraph By Ana Paula Pereira" Crypto World Headline Telegram founder wants to build new decentralized tools to combat power abuse Rj Nov 30 The messaging platform is building a set of decentralized tools, including noncustodial wallets and decentralized exchanges. Go to Source Author: Cointelegraph By Ana Paula Pereira Comment Unsubscribe to no longer receive posts from Crypto World Headline. Change your email settings at manage subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://www.cryptoworldheadline.com/telegram-founder-wants-to-build-new-decentralized-tools-to-combat-power-abuse/ Powered by Jetpack

Rj posted: " Disclaimer: This is not investment advice. The information provided is for general purposes only. No information, materials, services and other content provided on this page constitute a solicitation, recommendation, endorsement, or any financial, inve" Crypto World Headline VeChain Dropped -19.49% in Last Month and is Predicted to Reach $0.020941 By Dec 05, 2022 – Crypto World Headline Rj Nov 30 Disclaimer: This is not investment advice. The information provided is for general purposes only. No information, materials, services and other content provided on this page constitute a solicitation, recommendation, endorsement, or any financial, investment, or other advice. Seek independent professional consultation in the form of legal, financial, and fiscal advice before making any investment decision. VeChain is up 3.07% today against the US Dollar VeChain is currently trading 9.05% below our prediction on Dec 05, 2022 VeChain dropped -19.49% in the last month and is down -84.70% since 1 year ago VeChain price $ 0.019046 VeChain prediction $ 0.020941 (10.19%) Sentiment Bearish Fear & Greed index 29 (Fear) Key support levels $ 0.018204, $ 0.017869, $ 0.017614 Key resistance levels $ 0.018794, $ 0.019050, $ 0.019384 VET price is expected to rise by 10.19% in the next 5 days according to our VeChain price prediction is trading at $ 0.019046 after gaining 3.07% in the last 24 hours. The coin outperformed the cryptocurrency market, as the total crypto market cap increased by 2.93% in the same time period. VET performed well against BTC today and recorded a 0.21% gain against the world's largest cryptocurrency. According to our VeChain price prediction, VET is expected to reach a price of $ 0.020941 by Dec 05, 2022. This would represent a 10.19% price increase for VET in the next 5 days. VET Price Prediction Chart Buy/Sell VeChain What has been going on with VeChain in the last 30 days VeChain has been displaying a negative trend recently, as the coin lost -19.49% in the last 30-days. The medium-term trend for VeChain has been bearish, with VET dropping by -19.59% in the last 3 months. The long-term picture for VeChain has been negative, as VET is currently displaying a -84.70% 1-year price change. On this day last year, VET was trading at $ 0.124484. VeChain reached its all-time high price on Apr 19, 2021, when the price of VET peaked at $ 0.282922. The current VET cycle high is $ 0.019351, while the cycle low is at $ 0.017293. VET has been displaying high volatility recently – the 1-month volatility of the coin is at 12.65. VeChain recorded 12 green days in the last 30 days. VeChain technical analysis for today - Nov 30, 2022 The sentiment in the VeChain markets is currently Bearish, and the Fear & Greed index is reading Fear. The most important support levels to watch are $ 0.018204, $ 0.017869 and $ 0.017614, while $ 0.018794, $ 0.019050 and $ 0.019384 are the key resistance levels. Bearish sentiment for VeChain 11 indicators are currently signaling a bullish prediction for VeChain, while 17 indicators are showing a bearish forecast. With 61% of indicators favoring a negative prediction. This results in an overall Bearish sentiment for VeChain. Crypto market is currently experiencing Fear Currently, the Fear & Greed index is at 29 (Fear), which signals that investors have a negative outlook on the market. The Fear & Greed index is a measure of sentiment among cryptocurrency investors. A "Greed" reading suggests that investors are currently optimistic about the cryptocurrency market, but can also be an indication that the market is overvalued. A "Fear" reading, on the other hand, signals that investors are currently hesitant about the cryptocurrency market, which potentially represents a buying opportunity. VeChain moving averages & oscillators Let's take a look at what some of the most important technical indicators are signaling. We'll be going through key moving averages and oscillators that will allow us to get a better idea of how VeChain is positioned in the market right now. Period Daily Simple Daily Exponential Weekly Simple Weekly Exponential MA3 $ 0.018519 (BUY) $ 0.018539 (BUY) - - MA5 $ 0.018704 (BUY) $ 0.018545 (BUY) - - MA10 $ 0.018542 (BUY) $ 0.018709 (BUY) - - MA21 $ 0.019239 (SELL) $ 0.019452 (SELL) $ 0.023728 (SELL) $ 0.024571 (SELL) MA50 $ 0.021664 (SELL) $ 0.021051 (SELL) $ 0.040305 (SELL) $ 0.039422 (SELL) MA100 $ 0.022784 (SELL) $ 0.023063 (SELL) $ 0.071672 (SELL) $ 0.048676 (SELL) MA200 $ 0.025031 (SELL) $ 0.029797 (SELL) $ 0.039859 (SELL) $ 0.046405 (SELL) Period Value Action RSI (14) 40.04 NEUTRAL Stoch RSI (14) 63.77 NEUTRAL Stochastic Fast (14) 37.19 NEUTRAL Commodity Channel Index (20) -66.67 NEUTRAL Average Directional Index (14) 14.74 NEUTRAL Awesome Oscillator (5, 34) 0.00 NEUTRAL Momentum (10) 0.00 NEUTRAL MACD (12, 26) 0.00 NEUTRAL Williams Percent Range (14) -62.81 NEUTRAL Ultimate Oscillator (7, 14, 28) 49.32 NEUTRAL VWMA (10) 0.02 BUY Hull Moving Average (9) 0.02 SELL Ichimoku Cloud B/L (9, 26, 52, 26) 0.02 NEUTRAL The Relative Strength Index (RSI 14) is a widely used indicator that helps inform investors whether an asset is currently overbought or oversold. The RSI 14 for VeChain is at 40.04, suggesting that VET is currently neutral. The 50-day Simple Moving Average (SMA 50) takes into account the closing price of VeChain over the last 50 days. Currently, VeChain is trading above the SMA 50 trendline, which is a bullish signal. Meanwhile, the 200-day Simple Moving Average (SMA 200) is a long-term trendline that's calculated by taking an average of the VET closing price for the last 200 days. VET is now trading above the SMA 200, signaling that the market is currently bullish. The bottom line about this VeChain prediction After considering the above factors, we can conclude that the current forecast for VeChain price prediction is Bearish. VET would have to increase by 10.19% to hit our $ 0.020941 target within the next five days. Moving forward, it will be important to monitor the VET market sentiment, the key support and resistance levels, and other metrics. However, we have to keep in mind that the cryptocurrency markets are unpredictable, and even the largest crypto assets display a lot of price volatility. For long-term VeChain price predictions click here. Disclaimer: This is not investment advice. The information provided is for general purposes only. No information, materials, services and other content provided on this page constitute a solicitation, recommendation, endorsement, or any financial, investment, or other advice. Seek independent professional consultation in the form of legal, financial, and fiscal advice before making any investment decision. Source link Comment Unsubscribe to no longer receive posts from Crypto World Headline. Change your email settings at manage subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://www.cryptoworldheadline.com/vechain-dropped-19-49-in-last-month-and-is-predicted-to-reach-0-020941-by-dec-05-2022-crypto-world-headline/ Powered by Jetpack

Rj posted: "FIFA World Cup started on November 20, 2022, and all soccer fans globally are eager about one of the biggest sports tournaments on the planet.  This is the 22nd World Cup, but probably one of the most exciting, with an estimated 1.5 million internation" Crypto World Headline World Cup 2022: How Are Soccer and Crypto Connected? Rj Nov 30 FIFA World Cup started on November 20, 2022, and all soccer fans globally are eager about one of the biggest sports tournaments on the planet.  This is the 22nd World Cup, but probably one of the most exciting, with an estimated 1.5 million international guests expected. Qatar, the host nation, invested about $220 billion in the tournament organization, nearly 20 times what Russia invested only four and a half years ago.  As one of the fastest-growing markets in the world, the Crypto industry is entering various gigantic places such as sports and, mainly, soccer. Therefore, the biggest cryptocurrency exchanges are using the World Cup to promote themselves, for instance, Bitget, Crypto.com, and OKX. Initiatives include being one of the tournament's main sponsors, hosting the web3 version of the World Cup and launching various marketing campaigns.  Since 2018, the crypto industry had started to become widely popular in the soccer universe when clubs from the biggest soccer league in the world (Premier League) started cooperating with eToro. And when Spanish striker David Barral was traded from Real Madrid to DUX International de Madrid in 2021, the transaction was paid for with Bitcoin, the first crypto-soccer transfer payment in history.  Today, crypto-related projects are visible in the strongest leagues in the world. For example, Binance is on Lazio's jerseys, while Inter Milan promotes their fan token in some games. Binance is probably doing the most severe job on the soccer market since, in June this year; they were proud to announce an exclusive multi-year partnership with one of the best soccer players in history, Cristiano Ronaldo.  Bitget: Messi's partners  The legendary Argentine footballer and record-breaking seven-time Ballon d'Or winner Lionel Messi and Bitget recently announced their partnership. The announcement marks the beginning of Bitget and Messi's relationship and heralds the fusion of sports and cryptocurrencies, promising long-term efforts to advance the two industries. In celebration of the World Cup, Bitget launched a new brand film and marketing campaign, "Make It Count" starring Messi, along with a series of activities on the company's social media channels and platform.  Leo Messi, also known as Lionel Andrés Messi, is one of the most well-liked and well-known global sports superstars. He has won six European Golden Shoes. Messi is leading the Argentine national team in November as its captain for his fifth World Cup, which is held in Qatar this year. Recently in the World Cup's Argentina vs Mexico game, he tied with Maradona's World Cup goal record and bested his personal annual goal record.  "I would like to thank Bitget for making me a part of the crypto trading social world with such an exciting campaign. I like the Bitget's brand film "make it count" concept of leading the vision and charting a new path within the industry. It's important that everyone invest responsibly with protection, and it's reassuring to see Bitget taking this seriously with a series of protection initiatives." For the partnership with Bitget, Messi expresses Bitget, established in 2018, is a leading cryptocurrency exchange and ranked top 5 globally as a crypto derivative exchange; with innovative products and social trading services as its key features, it currently serves over 8 million users in more than 100 countries worldwide. "Partnering with the GOAT inspires us to strive for the best performance, and the World Cup period is the best time to remind ourselves about the importance of building and training for the moment to shine. We would like to celebrate the football spirit in the world of crypto and are prepared to continue investing in the ecosystem even when times are tough." Gracy Chen, Managing Director of Bitget, comments Through this collaboration, Bitget will offer Messi supporters a special chance to learn more about Web 3.0 with heavily invested $20M in marketing efforts and campaigns during the World Cup period. Additionally, it is agreed upon that the collaboration will enable both parties to dedicate themselves to more significant initiatives that go beyond cryptocurrency and football. Bitget has partnered with organizations and companies that represent the pinnacle of their respective industries over the past year. Bitget is dedicated to providing its ecosystem with a network of top-notch affiliates, from the most prestigious football club in Italy, Juventus, to esports giant Team Spirit and providers of premium international esports tournaments and events, PGL. The collaboration shows the continuous effort to strengthen the relationship between sports (football mostly) and the crypto market. This kind of partnership will provide wide exposure to the cryptocurrency realm and businesses. FAQs Is the 2022 World Cup in Qatar good for Crypto? Yes, definitely, since this is the sports event where crypto is most represented so far. Which football clubs have crypto coins? There are many football clubs at this point that have crypto fan coins. The most popular ones are Santos FC Token (SANTOS), Galatasaray Fan Token (GALFT), S.S. Lazio Fan Token (LAZIO), Paris Saint-Germain Fan Token (PSG), Brazil National Football Team Fan Token (BFT), Argentine Football Association Fan Token (ARG), FC Barcelona Fan Token (BAR), AC Milan Fan Token (ACM), and Manchester City Fan Token (CITY). Is there a soccer NFT? Yes, there are many football-based NFTs. The most popular one is from Barcelona, which launched its NFT collection in July 2022. How do I buy NFT football? You can buy football NFTs on platforms such as Sorare or Franz. The post World Cup 2022: How Are Soccer and Crypto Connected? appeared first on BeInCrypto. Go to Source Author: Vignesh Karunanidhi Comment Unsubscribe to no longer receive posts from Crypto World Headline. Change your email settings at manage subscriptions. Trouble clicking? 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Rj posted: "BlackRock CEO Larry Fink ascribes the downfall of FTX to its own token, leaving others to fear the same scenario may transpire for Binance. BlackRock's chief executive spoke about his company's involvement with FTX with Andrew Sorkin at the New York Ti" Crypto World Headline BlackRock CEO Larry Fink Says FTX Collapsed Because It Created Its Own Token – so Is Binance Next? Rj Nov 30 BlackRock CEO Larry Fink ascribes the downfall of FTX to its own token, leaving others to fear the same scenario may transpire for Binance. BlackRock's chief executive spoke about his company's involvement with FTX with Andrew Sorkin at the New York Times' DealBook conference. He said that BlackRock had invested $24 million in FTX through a fund it managed before the exchange's collapse.  In spite of this, Fink declined to say that his company had been defrauded by FTX. "We're going to have to wait to see how this all plays out," Fink said. "I mean, right now we can make all the judgment calls, and it looks like there were misbehaviors of major consequences."  However, the BlackRock chief executive did not hesitate to pinpoint the catalyst of the exchange's cataclysmic downfall. "FTX failed because it created its own token," Fink said. While he said that many crypto companies would not survive the ensuing fallout, he still believes that blockchain technology underlying cryptocurrencies will play a major role in the future of global finance. The Role of FTT in FTX While Fink's pithy ascription may strike some as overly simplistic, he is not far off the mark. FTX's troubles started last month, when a news report revealed a private financial document of Sam Bankman-Fried's Alameda Research.  According to the document, nearly a third of the firm's $14.6 billion in assets consisted of FTX tokens (FTT). The report found it suspicious that Alameda seemed to be propped up with tokens from a fellow Bankman-Fried entity.  This then led Binance CEO Changpeng Zhao to announce that he would be liquidating the exchange's holdings of FTT. The ensuing selloff, triggered a liquidity crisis for FTX that ultimately led to its bankruptcy and downfall. Now, some speculate that Binance's own token could lead it to a similar fate. Binance Coin Causes Concerns In a recent series of Tweets, UXTO analyst Dylan LeClair expressed his skepticism about Binance Coin (BNB). He seemed to think that the token's significant appreciation recently beggared belief and reminded him of a recent dangerous precedent. Label me a pessimist, but all I see is a whole lot of hot air. 9x in two months during the bull run with barely a retrace? 10x against BTC since 2021? Must be a "new paradigm".$BNB pic.twitter.com/ysJ04lXPPZ — Dylan LeClair (@DylanLeClair_) November 29, 2022 "I'm sure it was retail that sent BNB 10x in two months. Same with FTT, right?," he said. "It definitely wasn't the exchange operator with an incentive to drive up the price of their own token to create a feedback loop of attention, hype, and more users…"  Earlier, Zhao had distinguished BNB from FTT, saying that Binance did not leverage its own token. Although LeClair acknowledged this, he said that Binance users certainly do, the financing costs of which Binance then subsidizes. Recently, another analyst pointed out that a disproportionate amount of Binance's SAFU fund consisted of BNB. Zhao responded saying the token had merely appreciated faster than its other constituent coins, Bitcoin and stablecoin Binance USD.  Yet, according to LeClair, this appreciation itself is suspect. "The outperformance against *everything* is telling, and you should ask yourself what is the reason," he said. "Who is supporting this market (we know), and do they have infinite money?" The post BlackRock CEO Larry Fink Says FTX Collapsed Because It Created Its Own Token – so Is Binance Next? appeared first on BeInCrypto. Go to Source Author: Nicholas Pongratz Comment Unsubscribe to no longer receive posts from Crypto World Headline. Change your email settings at manage subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://www.cryptoworldheadline.com/blackrock-ceo-larry-fink-says-ftx-collapsed-because-it-created-its-own-token-so-is-binance-next/ Powered by Jetpack

Rj posted: " As the FTX saga continues, all eyes are on crypto exchanges: Coinbase, Crypto.com, Binance and the like all have hefty sets of eyes on their next moves. There is plenty to be said for the state of crypto exchanges today, but Coinbase's announcement of" Crypto World Headline Coinbase Drops XRP & Other Tokens, Cites Low Activity – Crypto World Headline Rj Nov 30 As the FTX saga continues, all eyes are on crypto exchanges: Coinbase, Crypto.com, Binance and the like all have hefty sets of eyes on their next moves. There is plenty to be said for the state of crypto exchanges today, but Coinbase's announcement of the delisting of several tokens: BCH, ETC, XLM, and XRP. Let's dive into the state of crypto exchanges currently, and more on Coinbase's latest announcement. Exchange: Status Check While Binance CEO Changpeng 'CZ' Zhao has seized the spotlight as crypto's 'main character' lately, Crypto.com's leadership team – spearheaded by CEO Kris Marszalek – has largely been on the defensive, while Coinbase has been treading their steady positioning. Plenty of other major headlining exchanges have followed suit with Coinbase. Many have sought to maintain posture and look to keep 'business as usual' to weather the storm. Nonetheless, the spotlight is on. As more threads unravel around the FTX saga, consumer trust is impacted in immeasurable ways; one consistent thread is that all exchanges, the aforementioned 3 and beyond, have faced pressures to increase transparency around reserves. That could lead to exchanges at large preparing for increased regulatory oversight, particularly with the U.S. Senate hearing regarding FTX less than 48 hours away. XRP is frequently a top 10 token in biggest market cap in crypto; however, Coinbase has elected to no longer support trading of the token, citing "low activity." | Source: XRP-USD on TradingView.com Coinbase's Delisting We haven't seen a delisting from Coinbase in recent memory. In a tweet announcement earlier on Tuesday, Coinbase announced the token delisting: 1/3: After careful evaluation, we will be removing support for several networks with low activity on Coinbase Wallet starting in January 2023—including BCH, ETC, XLM & XRP. These routine evaluations allow us to continue investing in new features that make web3 more accessible. — Coinbase Wallet (@CoinbaseWallet) November 29, 2022   Featured image from Coinbase.com/press, Charts from TradingView.com The writer of this content is not associated or affiliated with any of the parties mentioned in this article. This is not financial advice. This op-ed represents the views of the author, and may not necessarily reflect the views of Bitcoinist. Bitcoinist is an advocate of creative and financial freedom alike. Source link Comment Unsubscribe to no longer receive posts from Crypto World Headline. Change your email settings at manage subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://www.cryptoworldheadline.com/coinbase-drops-xrp-other-tokens-cites-low-activity-crypto-world-headline/ Powered by Jetpack

Rj posted: " Web3 让传统互联网进行了一场彻底的升级，用去中心化的协议和社区所有权替代了中心化的"看门人"和中介。Web3的底层逻辑对于信仰加密技术的人来说极具吸引力。不过我们也必须认识到： Web3目前仍是小众行业，还没有实现大规模应用。 虽然Web3的底层技术非常过硬，但你的奶奶并没有因此成为Web3的活跃用户，这不是没有原因的。区块链扩容瓶颈是最常被提起的原因，而且每次都会在后面加一句"我们这个行业还在发展初期"。但我个人觉得这只是Web3没有进入普通人日常生活的众多原因之一而已。 本文将跟大家分享我自" Crypto World Headline 为什么Web3到现在还没人用？ – Chainlink Blog – Crypto World Headline Rj Nov 30 Web3 让传统互联网进行了一场彻底的升级，用去中心化的协议和社区所有权替代了中心化的"看门人"和中介。Web3的底层逻辑对于信仰加密技术的人来说极具吸引力。不过我们也必须认识到： Web3目前仍是小众行业，还没有实现大规模应用。 虽然Web3的底层技术非常过硬，但你的奶奶并没有因此成为Web3的活跃用户，这不是没有原因的。区块链扩容瓶颈是最常被提起的原因，而且每次都会在后面加一句"我们这个行业还在发展初期"。但我个人觉得这只是Web3没有进入普通人日常生活的众多原因之一而已。 本文将跟大家分享我自己认为Web3还没有实现大规模应用的六大原因，以及怎样才能让区块链技术真正为社会实现价值。 原因一：技术术语晦涩难懂 对于刚进入Web3的人来说，Web3是很难一下子讲清楚的概念，特别是因为目前行业缺乏统一的定义。所有人对于Web3的价值都有自己的理解。因此归根到底，我们必须回答这样几个问题："Web3跟我有什么关系？"以及"Web3对我的日常生活有什么帮助？" Web3有许多特性经常被提及，比如去中心化、抗操纵、不可篡改性、透明性等。很多人会从纯技术的视角来解构Web3，解释中夹杂着各种难以理解的行业术语和技术名词。 making Web 2.0 hard to understand@Airbnb is a centralized marketplace allowing owners of non-fungible physical spaces to fractionalize and sell time-bound access to buyers whose transactions are enabled with credit cards and priced in fungible currencies (USD or native). — Patrick Workman (@PatrickWorkman) November 7, 2022 虽然从这个角度解释Web3可以让听的人了解其核心价值和技术细节，但实际上我们所有的沟通最终都是为了一个目的，那就是要解释清楚：Web3这些晦涩的概念和抽象的价值观跟普通人所关心的话题到底有什么关系？ 要回答这个问题，自然就要联系现实世界中的用例。 原因二：投机者自我狂欢 Web3的第一个应用就是创建比特币等数字通证，通证内预定义了货币政策，内置了点对点支付功能，并完全消除了中心化的中介。虽然数字通证吸引了很多人的关注，但如果通证只能从一方转移到另一方，那功能会很受限。而且数字通证相比传统货币来说波动性更大，愿意接受的商户也很少。 DeFi将价值交换过程去中介化。 除非传统金融系统出现重大系统性漏洞，否则光靠铸造和转移通证是没有足够吸引力的。因此，Web3的第二个主要应用场景应运而生，那就是去中心化金融 （DeFi）。DeFi拓展了数字通证的功能，不仅限于价值转移，还可以用于用户熟悉的金融场景中，比如借贷、交易和对冲风险。 然而，由于许多DeFi应用仍主要聚焦于通证，因此就创造出了一种循环经济，其中通证的价值部分来自于市场对其的投机。这其实并不令人感到意外，因为已经持有通证的Web3原住民很好地证明了DeFi已经初步实现了一定的产品-市场契合度。但对于不持有加密通证的人来说，DeFi看上去更像是一个赌场而不是新兴的金融系统。 DeFi循环经济中典型的投机模式——"yield farming" 用通证化资产来解决问题？ 话虽如此，并不能说如今所有DeFi项目本质上都是内循环。稳定币是锚定法币等资产的通证，推动了"可编程美元"的兴起，这种通证可以在全球交易并在几秒钟内结算。数字美元更贴近如今普通人的生活，人们在日常生活中已经开始收到、支出并储蓄这类货币。 如今有价值1400亿美元的稳定币可用于DeFi协议，因此DeFi生态可以为用户产生更大的价值，比如创建链上储蓄账户。Web3的独特优势如果能附加到传统资产上，那么它的价值就不言自明。 1/ Stablecoins are the Trojan Horse that will bring smart contracts to the masses Why? They're the probably the first and only real-world use-case of crypto today that is fully sustainable and rapidly scaling A on #Stablecoins and how they'll take over the global economy pic.twitter.com/CdwPTsI8si — ChainLinkGod.eth (@ChainLinkGod) May 23, 2022 除了稳定币之外，我认为这种链上金融映射的机制（注：这是指将现实世界中的金融模型照搬到链上实现）将很好地将Web3应用推向大众，并对他们的日常生活产生切实的影响。 比如我们可以借助通证化的现实世界资产（RWA）来打破如今DeFi行业的投机内循环（注：稳定币是RWA的一个子集）。RWA包含房地产、企业/政府债券、收入分配协议、大宗商品以及传统金融系统里的其他资产。当然，通证化的RWA也有缺点，尤其是在去中心化和信任最小化这两方面。不过支持RWA的Web3应用可以极大提升Web3的价值主张。 1/ Tokenized Real-World Assets (RWAs) is how #DeFi will scale to a global level A covering my thoughts on the opportunities and challenges this present — ChainLinkGod.eth (@ChainLinkGod) July 2, 2022 原因三：超级金融化 虽然DeFi、稳定币和RWA可以为Web3进入主流提供巨大机会，但还有一个问题我们必须考虑到，那就是普通人其实并不关心金融。普通人可能都没怎么用过金融服务，也不关心金融产品在后台到底是怎么结算的。说到底，他们只想开展商业活动，比如用信用卡在超市买东西。如果Web3主要的价值主张是基于超级金融化实现的，那么就会错失巨大的市场机会。 这也是很多人对Web3产生疑惑的地方。如果Web3是"去中心化的互联网"，那么为什么没有出现我们熟悉的典型互联网用例呢？比如发消息、社交媒体、在线视频、电子商务以及你现在正在阅读的博客。 如果Web3的核心价值是定义了内容生产者和消费者的交互方式。那么这些Web3内容平台在哪呢？ 非金融类Web3用例仍处于发展初期，但目前已经出现了一些明显的势头。比如，Web3的社交媒体平台可以采用去中心化的协议。用户可以真正拥有自己的网上个人资料，包括在平台上生成的所有内容以及整个社交图谱。他们的个人资料可以转移到其他前端社交界面，这些社交界面的内容审核政策会有所不同。 Aave的Lens Protocol 就是以此为目的开发的去中心化社交协议。所有交互都储存在Polygon的PoS区块链上。用户的社交图谱可以跨越各个应用转移。能够拥有自己的社交身份是Web3的一个非常强大的价值主张，这直接解决了目前Web2社交平台的问题，包括内容过滤算法和强制删除账号的做法。 可以基于去中心化社交图谱协议创建独立的前端界面（资料来源） 去中心化的社交媒体有可能成为杀手级的非金融类Web3应用。不过杀手级应用也可能出现在创作者经济、游戏、元宇宙或DAO等赛道中。无论最后哪个赛道胜出，显而易见的是我们必须在超级金融化以外的领域寻找发展机会。 原因四：用户体验到处都是坑 理论上来说，Web3的用户体验应该远远超过目前的互联网。Web3用户不用在每个网站上都创建独特的用户名和密码，也不用信任中心化的服务提供商，而是可以通过唯一的私钥自己进行验证，而且私钥可以通用于所有Web3应用。这不仅可以极大简化用户体验，而且用户还能真正拥有自己的数据并且不用经过中心化的中介就能直接访问应用。 如果这些功能都能正常运作，体验真的会很好。 Web1.0，Web2.0和Web3的登录体验差异（资料来源） 然而这个前提是"如果能正常运行"。在现实中，用户往往要面临各种互不兼容的认证标准，要手动处理私钥和助记词，要下载新的浏览器插件或移动钱包并学习如何使用，还要针对不同标准的区块链进行调试。这一切都导致了用户体验非常差。 添加一个新的标准就能解决Web3的认证问题？（资料来源） 助记词？ChainID？Gas费？通证审批？撤回交易？终局？这些都是非常晦涩难懂的技术概念，而Web3用户如果想要使用Web3应用，就不得不先搞懂这些词的意思。即使用户费劲搞懂了，他们在使用Web3应用时还是有如履薄冰的感觉，深怕过程中的某个环节会出问题（硬件钱包->Web3浏览器插件->前端网站->RPC节点->区块链）。 Web2用户在使用时不需要理解Web2的底层技术架构，同样地，Web3用户也不应该要理解Web3的技术细节（资料来源） 目前Web3的用户体验普遍很差，这并不是某个项目或协议的错。也有许多人正在努力统一Web3的用户体验。但是不可否认的是，如今Web3的用户体验确实不行。安全的私钥管理也是一个很重要的责任，这是Web2无法比拟的地方。但不幸的是，Web3用户一旦丢失了助记词，就再也无法找回账户。 在Web3领域有许多类似下方的界面，这也难怪新客户的流失率如此高了。 "连接钱包"最后变成了一个"兔子洞"，连接之后只能自求多福了。 要解决用户体验的问题需要从第一性原理出发，在最大程度上为用户降低技术门槛和风险。我相信这最终会催生出Web3"超级应用"，降低Web3基础设施的各种技术门槛，在界面上只向用户展示他们进入Web3世界需要的信息。Coinbase 和罗宾汉就是两个例子。这两家企业都面向用户开发了体验流畅的Web3钱包。 Coinbase在其主要的移动端应用中直接集成了Web3浏览器。这个浏览器采用了安全的多方运算（MPC），以分布式的方式生成私钥。Coinbase通过这种方式创建了"半托管"的钱包系统。用户的私钥被分散在三个实体，任意两个实体的私钥拼在一起才能签名一笔交易。用户和Coinbase各拿三分之一的私钥，另外三分之一放在冷储存解决方案中作为备份，或由可信第三方持有。如果用户丢失自己的密钥，就可以激活备份机制，重新获得钱包的访问权限。 这个模式虽然在信任最小化方面不如纯粹的自托管解决方案那么高，但是却能极大提升用户体验，也可以为许多容易不小心丢失密钥的用户提供更安全的解决方案。除此之外还有社交恢复（social recovery）这类解决方案，也可以打造出类似Web2的用户体验。 原因五：Web3吞吐量问题 如今Web3最令人诟病的地方就是主流公链的扩容和延迟问题。我在之前的一篇关于区块链信任模式的文章中提到过，很多人都认为扩容就是提高交易吞吐量。然而更全面的理解应该是：区块链扩容既需要提升交易吞吐量，又需要维持较低的区块链账本验证成本。虽然有些区块链的吞吐量相对较高，但仍存在上限，而且这些区块链往往不得不在去中心化、安全和可靠性三个方面做出权衡。 区块链的不可能三角显示了传统区块链需要做出的权衡。 Vitalik Buterin曾经说过："新型的货币互联网不应该每笔交易都要花5美分。"介于以太坊过去几年的gas成本一直很高，他这么说可能有点讽刺，但这个观点仍然得到大多数人的赞同。即使有了更明确的应用场景和更优化的用户体验，如果交易确认时间和成本问题得不到解决，那么还是无法吸引几十亿新用户。 由于这是Web3无法实现大规模应用的一个更明显的原因，所以许多区块链都非常重视扩容问题，通过并行运算、模块化rollup以及侧链等方案来实现区块链扩容。其中许多方案都仍在开发初期，但我非常有信心可扩展性问题将在未来几年得到解决。而相比之下，这个高度可扩展的Web3生态会发展成什么样？这一点倒是很难预测。未来的Web3会变成由多个独立的L1/侧链组成的多链世界？还是会变成由L2扩容方案组成的多rollup世界？还是会变成高吞吐量的L1区块链呢？或者这三种情况会并存？ ZkSync的Matter Labs对比不同的扩容方案（资料来源） 原因六：房间里的大象 当讨论Web3发展所面临的阻碍时，我们无法忽视一个重要的问题，那就是加密资产、去中心化应用和去中心化组织缺乏明确的法律框架和政策指导，这限制了Web3在全球的扩张。与任何彻底颠覆现有行业的新技术一样，成长的阵痛是不可避免的。但是并非所有问题都可以通过技术手段解决。 如果没有明确的法律框架和政策指导，传统机构和组织都无法遵循明确的路径，也没有意愿参与Web3生态并在其中投入资源。一旦我们能通过行业合作，在保护创新的同时建立法律框架和政策指导，机构和组织就更有可能真正投身于Web3事业，成为服务提供商或将现有客户群导入Web3。 这里要申明一点，我并不是在支持任何一个具体的法律框架或政策指导，而是想说Web3是否能实现大规模应用取决于是否有清晰合理的政策指导。到底应该建立什么样的监管政策还取决于一系列变量。我们当然不希望遏制Web3生态的创新，但Web3如果一直处于类似"狂野西部"的无监管状态，也不是长久之计。 如果Web3的欺诈骗局无人监管，机构也不太可能愿意加入（资料来源） 展望未来 Web3重塑了应用的信任模式，将权力从中心化的中介转移到了确定和透明的软件。然而，像任何创新技术一样，Web3都面临着重重障碍，必须先克服这些障碍才能实现大规模应用。虽然Web3要实现大规模应用还需要克服许多其他挑战，但只要能先解决上述几个问题，就可以在许多方面实现更大的社会价值。 —— 本文内容仅代表作者本人观点，不代表Chainlink基金会或Chainlink Labs的观点。 Source link Comment Unsubscribe to no longer receive posts from Crypto World Headline. 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Rj posted: "British-American businessman John McAfee talks about his crypto story and how he discovered BTC. Go to Source Author: Cointelegraph By Ezra Reguerra" Crypto World Headline Crypto Stories: John McAfee tells the story of how he first found out about Bitcoin Rj Nov 30 British-American businessman John McAfee talks about his crypto story and how he discovered BTC. Go to Source Author: Cointelegraph By Ezra Reguerra Comment Unsubscribe to no longer receive posts from Crypto World Headline. Change your email settings at manage subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://www.cryptoworldheadline.com/crypto-stories-john-mcafee-tells-the-story-of-how-he-first-found-out-about-bitcoin/ Powered by Jetpack

Rj posted: " We're thrilled to announce that we have added ten new NFT collections to Kraken NFT for our current beta testers to explore, collect and trade. After revealing the first 70 collections earlier this year, we carefully selected these new collections so" Crypto World Headline New NFT Collections added to Kraken NFT – Crypto World Headline Rj Nov 30 We're thrilled to announce that we have added ten new NFT collections to Kraken NFT for our current beta testers to explore, collect and trade. After revealing the first 70 collections earlier this year, we carefully selected these new collections so you can continue to build the NFT collection of your dreams with zero gas fees.*  We will continue to add a wide range of new NFT collections every week — from the hottest profile picture communities to latest gaming experiences — across the Ethereum and Solana blockchains. Here is everything you need to know about the new collections launching on Kraken NFT this week: Anthony Hopkins – The Eternal Anthony Hopkins – The Eternal is a collection of 1,000 NFTs depicting the two time Oscar winning actor, Sir Anthony Hopkins. Each 3D NFT portrays the distinguished actor as a character archetype such as the jester, lover, rebel or hero. Randomly selected NFTs within the collection entitle their holders to redeemable fan merchandise and a chance to meet Sir Anthony Hopkins himself. Azuki Azuki is a collection of 10,000 hand-drawn NFT avatars ready for the metaverse. The collection's anime-styled characters act as the NFT owner's identity within a virtual world. Holders of Azuki NFTs are entitled to exclusive experiences within the metaverse and are granted membership access to The Garden — an online space for creators and community members. BEANZ Official BEANZ is an official companion collection which accompanies Azuki NFT avatars in the metaverse. BEANZ act as sidekicks to Azuki NFTs and come with a unique set of varying attributes and attitudes that help define their personalities. While all BEANZ are driven by a desire to help, some may be more helpful than others. Castaways – The Islands Castaways – The Islands is a collection of 500 NFTs created for the Castaways sandbox game. Players of the game drift to sea on NFT-based rafts in search of land they can use to build a new civilization. The Islands are digital representations of land found within the game and can be used strategically to provide owners the resources needed for survival.  CryptoDickbutts CryptoDickbutts is a collection of 5,200 adult-themed NFTs minted on the Ethereum blockchain. The collection depicts a series of pixelated creatures with pronounced rear ends and unique, protruding accessories. Owners of the generative NFTs are granted full rights to use the included artwork as they see fit — provided they hide it from their kids. DigiDaigaku Genesis DigiDaigaku is an NFT collection of 2,022 original characters created by Limit Break — a blockchain-based game development company. The limited collection of girlish anime profiles are each generated from 13 different traits which include backgrounds, hairstyles, expressions and accessories. The world these girls live in has yet to be discovered but details are expected to be revealed in time.  Murakami.Flowers Official Murakiami.Flowers is a fragrant NFT collection which showcases 11,664 floral artworks by artist Takashi Murakami. Each flower in the collection is crafted using dot art — a technique similar to that used by Japanese TV games in the 1970s — and is developed with special attention to the number 108 which represents the number of earthly temptations in the Buddhist religion. Verified owners of Murakami.Flowers may be entitled to occasional benefits including additional content and physical items offered by authorized third parties. QQL Mint Pass QQL Mint Pass is a collection of licenses which allow holders to generate an official NFT from the project. Owner's of a QQL Mint Pass can interact with the project's website in order to create a unique digital artwork based on their individual tastes. By playing a role in the output of the NFT, owners share in the creative process thereby turning collectors into curators of the platform's generative art. RENGA RENGA is a collection of 10,000 NFTs handcrafted by digital artist, DirtyRobot. The collection is inspired by a Japanese poetry style of the same name where writers alternate their contributions between stanzas. In keeping with the tradition of the genre, the stories behind each character within the RENGA collection are told by the owners of the NFTs and shared within the community.  VeeFriends Series 2 VeeFriends Series 2 is the natural evolution to the original NFT trading card game of the same name. The upgraded collection now features 55,555 original NFTs which depict 251 characters from the game in unique poses and with varying qualities. VeeFriends Series 2 NFTs offer their holders exclusive access to redeem a box of 52 physical trading cards issued by the project team. Your opinion matters Beta testers' opinions will help shape Kraken NFT before we take it to the global market. Please check out our Support Center for any FAQs about using the marketplace, or contact Kraken Support for 24/7 assistance. If you're new to the world of NFTs, you can visit our Learn Center to discover what all the excitement is about. You can also browse the 70 carefully selected NFT collections that are available to explore, collect and trade in the beta testing phase. If you were not selected for the chance to try the Kraken NFT Beta, follow the Kraken Blog and our social account to be the first to know when the full public beta launches. Follow our Kraken NFT Twitter! That's right, we launched a new Twitter account for all things NFTs! Follow us on Twitter at KrakenNFT to be the first to know about all of the exciting things happening on Kraken NFT. Will Kraken make more NFTs available? Yes! But our policy is to never reveal any details until shortly before launch — not even which NFTs we are considering. All of the NFTs available on Kraken are listed on our website, and all future NFTs will be announced on Kraken NFT's Twitter. Our client engagement specialists cannot answer any questions about which assets we may be making available in the future.  Trade with caution Specific asset availability and liquidity are not guaranteed. When Kraken makes an NFT collection available for trading, it's not a recommendation to buy, sell, or participate in the associated collection. Do your own research and invest at your own risk. *Gas fees will be incurred when transferring NFTs and other cryptoassets on and off the Kraken platform.  Like this: Like Loading... Source link Comment Unsubscribe to no longer receive posts from Crypto World Headline. Change your email settings at manage subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://www.cryptoworldheadline.com/new-nft-collections-added-to-kraken-nft-crypto-world-headline/ Powered by Jetpack

Rj posted: " Kraken's the latest crypto firm to announce mass layoffs amid the crypto downturn.  "We're reducing our global workforce by approximately 1,100 people, or 30 percent, in order to adapt to current market conditions," the firm said in a blog post. " Crypto World Headline Kraken cuts 30% of staff to 'weather crypto winter' – Crypto World Headline Rj Nov 30 Kraken's the latest crypto firm to announce mass layoffs amid the crypto downturn.  "We're reducing our global workforce by approximately 1,100 people, or 30 percent, in order to adapt to current market conditions," the firm said in a blog post.  Coinbase kicked off layoffs in June at the beginning of the crypto downturn. © 2022 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice. Source link Comment Unsubscribe to no longer receive posts from Crypto World Headline. Change your email settings at manage subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://www.cryptoworldheadline.com/kraken-cuts-30-of-staff-to-weather-crypto-winter-crypto-world-headline/ Powered by Jetpack

Rj posted: "Researchers were able to decrypt all of Secret's internal transactions using an exploit. Go to Source Author: Cointelegraph By Zhiyuan Sun" Crypto World Headline Secret Network resolves network vulnerability following white hat disclosure Rj Nov 30 Researchers were able to decrypt all of Secret's internal transactions using an exploit. Go to Source Author: Cointelegraph By Zhiyuan Sun Comment Unsubscribe to no longer receive posts from Crypto World Headline. Change your email settings at manage subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://www.cryptoworldheadline.com/secret-network-resolves-network-vulnerability-following-white-hat-disclosure/ Powered by Jetpack

Rj posted: " NFTb exchange is requiring all new and existing Launchpad users to verify their IDs by Jan. 15, 2023.. Source link " Crypto World Headline NFTb Implements KYC Requirements for Launchpad Users – Crypto World Headline Rj Nov 30 NFTb exchange is requiring all new and existing Launchpad users to verify their IDs by Jan. 15, 2023.. Source link Comment Unsubscribe to no longer receive posts from Crypto World Headline. Change your email settings at manage subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://www.cryptoworldheadline.com/nftb-implements-kyc-requirements-for-launchpad-users-crypto-world-headline/ Powered by Jetpack

Rj posted: " Phantom wallet recently announced that it was enabling functionality for assets on Ethereum and Polygon The wallet's multi-chain strategy would focus on NFTs Phantom, a Solana-focused cryptocurrency wallet, announced it would move to o" Crypto World Headline Phantom pivots to Ethereum and Polygon to become a multi-chain wallet – Crypto World Headline Rj Nov 30 Phantom wallet recently announced that it was enabling functionality for assets on Ethereum and Polygon The wallet's multi-chain strategy would focus on NFTs Phantom, a Solana-focused cryptocurrency wallet, announced it would move to other chains on 29 November. This action followed the recent difficulties Solana had had following the demise of FTX. Could the FTX collapse have been a driving force behind this decision, or were there other influences? Ethereum and Polygon are now Phantom-able On Tuesday, 29 November, the leading Solana wallet, Phantom, announced that it would enable functionality for assets on the Polygon and Ethereum blockchains. The company claimed that the perceived necessity for self-custody had driven it to expand its product to these other significant blockchains in the wake of the FTX crash. Additionally, it explained that authorizing usage on these chains allowed users to access resources from several chains in a single location. The action was also intended to advance the wallet's goal of developing into a multi-chain wallet. Phantom claimed that it collaborated with Solana closely to create a premium wallet experience and now had more than three million users. The business has also announced that the private multi-chain beta would start in the coming weeks, with a public release scheduled for later this year. A masterstroke? Phantom's move coincides with more scrutiny being placed on one of the biggest Ethereum wallets. A lot of criticism has recently been directed at the Ethereum-based wallet Metamask due to its revised privacy policy. According to the new privacy policy, users that used Infura on Metamask would have their transaction information and IP addresses stored. The abrupt failure of FTX and Alameda this month, two of the ecosystem's biggest backers, caused a plunge in Solana-linked asset prices and unnerved blockchain developers on the network. Phantom's main aim had been transitioning into a multi-chain network; thus, this development may have merely hastened the process. Non-fungible tokens (NFT) will be at the center of Phantom's multi-chain strategy, with safeguards against spam dumps and enhanced support for viewing NFTs that include media. Phantom's potential migration to various blockchains would provide users, particularly those on the Ethereum blockchain, a competitive choice. Users would have centralized access to all of their assets with the addition of these chains. The success of this new venture, and the percentage of the market it will be able to seize, will depend on the reaction of its target audience. Source link Comment Unsubscribe to no longer receive posts from Crypto World Headline. Change your email settings at manage subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://www.cryptoworldheadline.com/phantom-pivots-to-ethereum-and-polygon-to-become-a-multi-chain-wallet-crypto-world-headline/ Powered by Jetpack

Rj posted: "Developers say the tool can help users save upwards of 15% on gas fees when shopping for NFTs. Go to Source Author: Cointelegraph By Zhiyuan Sun" Crypto World Headline Uniswap launches NFT marketplace aggregator Rj Nov 30 Developers say the tool can help users save upwards of 15% on gas fees when shopping for NFTs. Go to Source Author: Cointelegraph By Zhiyuan Sun Comment Unsubscribe to no longer receive posts from Crypto World Headline. Change your email settings at manage subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://www.cryptoworldheadline.com/uniswap-launches-nft-marketplace-aggregator/ Powered by Jetpack

Rj posted: "The IMF and World Bank do not seek to fix poverty, but only to enrich creditor nations. Could Bitcoin create a better global economic system for the developing world? This is an opinion editorial by Alex Gladstein, " Crypto World Headline Structural Adjustment: How The IMF And World Bank Repress Poor Countries And Funnel Their Resources To Rich Ones Rj Nov 30 The IMF and World Bank do not seek to fix poverty, but only to enrich creditor nations. Could Bitcoin create a better global economic system for the developing world? This is an opinion editorial by Alex Gladstein, chief strategy officer of the Human Rights Foundation and author of "Check Your Financial Privilege." I. The Shrimp Fields "Everything is gone." –Kolyani Mondal Fifty-two years ago, Cyclone Bhola killed an estimated 1 million people in coastal Bangladesh. It is, to this day, the deadliest tropical cyclone in recorded history. Local and international authorities knew well the catastrophic risks of such storms: in the 1960s, regional officials had built a massive array of dikes to protect the coastline and open up more territory for farming. But in the 1980s after the assassination of independence leader Sheikh Mujibur Rahman, foreign influence pushed a new autocratic Bangladeshi regime to change course. Concern for human life was dismissed and the public's protection against storms was weakened, all in order to boost exports to repay debt. Instead of reinforcing the local mangrove forests which naturally protected the one-third of the population that lived near the coast, and instead of investing in growing food to feed the quickly growing nation, the government took out loans from the World Bank and International Monetary Fund in order to expand shrimp farming. The aquaculture process — controlled by a network of wealthy elites linked to the regime — involved pushing farmers to take out loans to "upgrade" their operations by drilling holes in the dikes that protected their land from the ocean, filling their once-fertile fields with saltwater. Then, they would work back-breaking hours to hand-harvest young shrimp from the ocean, drag them back to their stagnant ponds, and sell the mature ones to the local shrimp lords. With financing from the World Bank and IMF, countless farms and their surrounding wetlands and mangrove forests were engineered into shrimp ponds known as ghers. The area's Ganges river delta is an incredibly fertile place, home to the Sundarbans, the world's biggest stretch of mangrove forest. But as a result of commercial shrimp farming becoming the region's main economic activity, 45% of the mangroves have been cut away, leaving millions of people exposed to the 10-meter waves that can crash against the coast during major cyclones. Arable land and river life has been slowly destroyed by excess salinity leaking in from the sea. Entire forests have vanished as shrimp farming has killed much of the area's vegetation, "rendering this once bountiful land into a watery desert," according to Coastal Development Partnership. A farm in Khuna province, flooded to make shrimp fields The shrimp lords, however, have made a fortune, and shrimp (known as "white gold") has become the country's second-largest export. As of 2014, more than 1.2 million Bangladeshis worked in the shrimp industry, with 4.8 million people indirectly dependent on it, roughly half of the coastal poor. The shrimp collectors, who have the toughest job, make up 50% of the labor force but only see 6% of the profit. Thirty percent of them are girls and boys engaged in child labor, who work as much as nine hours a day in the salt water, for less than $1 per day, with many giving up school and remaining illiterate to do so. Protests against the expansion of shrimp farming have happened, only to be put down violently. In one prominent case, a march was attacked with explosives from shrimp lords and their thugs, and a woman named Kuranamoyee Sardar was decapitated. In a 2007 research paper, 102 Bangladeshi shrimp farms were surveyed, revealing that, out of a cost of production of $1,084 per hectare, the net income was $689. The nation's export-driven profits came at the expense of the shrimp laborers, whose wages were deflated and whose environment was destroyed. In a report by the Environmental Justice Foundation, a coastal farmer named Kolyani Mondal said that she "used to farm rice and keep livestock and poultry," but after shrimp harvesting was imposed, "her cattle and goats developed diarrhea-type disease and together with her hens and ducks, all died." Now her fields are flooded with salt water, and what remains is barely productive: years ago her family could generate "18-19 mon of rice per hectare," but now they can only generate one. She remembers shrimp farming in her area beginning in the 1980s, when villagers were promised more income as well as lots of food and crops, but now "everything is gone." The shrimp farmers who use her land promised to pay her $140 per year, but she says the best she gets are "occasional installments of $8 here or there." In the past, she says, "the family got most of the things they needed from the land, but now there are no alternatives but going to the market to buy food." In Bangladesh, billions of dollars of World Bank and IMF "structural adjustment" loans — named for the way they force borrowing nations to modify their economies to favor exports at the expense of consumption — grew national shrimp profits from $2.9 million in 1973 to $90 million in 1986 to $590 million in 2012. As in most cases with developing countries, the revenue was used to service foreign debt, develop military assets, and line the pockets of government officials. As for the shrimp serfs, they have been impoverished: less free, more dependent and less able to feed themselves than before. To make matters worse, studies show that "villages shielded from the storm surge by mangrove forests experience significantly fewer deaths" than villages which had their protections removed or damaged. Under public pressure in 2013 the World Bank loaned Bangladesh $400 million to try and reverse the ecological damage. In other words, the World Bank will be paid a fee in the form of interest to try and fix the problem it created in the first place. Meanwhile, the World Bank has loaned billions to countries everywhere from Ecuador to Morocco to India to replace traditional farming with shrimp production. The World Bank claims that Bangladesh is "a remarkable story of poverty reduction and development." On paper, victory is declared: countries like Bangladesh tend to show economic growth over time as their exports rise to meet their imports. But exports earnings flow mostly to the ruling elite and international creditors. After 10 structural adjustments, Bangladesh's debt pile has grown exponentially from $145 million in 1972 to an all-time high of $95.9 billion in 2022. The country is currently facing yet another balance of payments crisis, and just this month agreed to take its 11th loan from the IMF, this time a $4.5 billion bailout, in exchange for more adjustment. The Bank and the Fund claim to want to help poor countries, but the clear outcome after more than 50 years of their policies is that nations like Bangladesh are more dependent and indebted than ever before. During the 1990s in the wake of the Third World Debt Crisis, there was a swell of global public scrutiny on the Bank and Fund: critical studies, street protests, and a widespread, bipartisan belief (even in the halls of the U.S. Congress) that these institutions ranged from wasteful to destructive. But this sentiment and focus has largely faded. Today, the Bank and the Fund manage to keep a low profile in the press. When they do come up, they tend to be written off as increasingly irrelevant, accepted as problematic yet necessary, or even welcomed as helpful. The reality is that these organizations have impoverished and endangered millions of people; enriched dictators and kleptocrats; and cast human rights aside to generate a multi-trillion-dollar flow of food, natural resources and cheap labor from poor countries to rich ones. Their behavior in countries like Bangladesh is no mistake or exception: it is their preferred way of doing business. II. Inside The World Bank And IMF "Let us remember that the main purpose of aid is not to help other nations but to help ourselves."  –Richard Nixon The IMF is the world's international lender of last resort, and the World Bank is the world's largest development bank. Their work is carried out on behalf of their major creditors, which historically have been the United States, the United Kingdom, France, Germany and Japan. The IMF and World Bank offices in Washington, DC The sister organizations — physically joined together at their headquarters in Washington, DC — were created at the Bretton Woods Conference in New Hampshire in 1944 as two pillars of the new U.S.-led global monetary order. Per tradition, the World Bank is headed by an American, and the IMF by a European. Their initial purpose was to help rebuild war-torn Europe and Japan, with the Bank to focus on specific loans for development projects, and the Fund to address balance-of-payment issues via "bailouts" to keep trade flowing even if countries couldn't afford more imports. Nations are required to join the IMF in order to get access to the "perks" of the World Bank. Today, there are 190 member states: each one deposited a mix of their own currency plus "harder currency" (typically dollars, European currencies or gold) when they joined, creating a pool of reserves. When members encounter chronic balance-of-payments issues, and cannot make loan repayments, the Fund offers them credit from the pool at varying multiples of what they initially deposited, on increasingly expensive terms. The Fund is technically a supranational central bank, as since 1969 it has minted its own currency: the special drawing rights (SDR), whose value is based on a basket of the world's top currencies. Today, the SDR is backed by 45% dollars, 29% euros, 12% yuan, 7% yen and 7% pounds. The total lending capacity of the IMF today stands at $1 trillion. Between 1960 and 2008, the Fund largely focused on assisting developing countries with short-term, high-interest-rate loans. Because the currencies issued by developing countries are not freely convertible, they usually cannot be redeemed for goods or services abroad. Developing states must instead earn hard currency through exports. Unlike the U.S., which can simply issue the global reserve currency, countries like Sri Lanka and Mozambique often run out of money. At that point, most governments — especially authoritarian ones — prefer the quick fix of borrowing against their country's future from the Fund. As for the Bank, it states that its job is to provide credit to developing countries to "reduce poverty, increase shared prosperity, and promote sustainable development." The Bank itself is split up into five parts, ranging from the International Bank for Reconstruction and Development (IBRD), which focuses on more traditional "hard" loans to the larger developing countries (think Brazil or India) to the International Development Association (IDA), which focuses on "soft" interest-free loans with long grace periods for the poorest countries. The IBRD makes money in part through the Cantillon effect: by borrowing on favorable terms from its creditors and private market participants who have more direct access to cheaper capital and then loaning out those funds at higher terms to poor countries who lack that access. World Bank loans traditionally are project- or sector-specific, and have focused on facilitating the raw export of commodities (for example: financing the roads, tunnels, dams, and ports needed to get minerals out of the ground and into international markets) and on transforming traditional consumption agriculture into industrial agriculture or aquaculture so that countries could export more food and goods to the West. Bank and Fund member states do not have voting power based on their population. Rather, influence was crafted seven decades ago to favor the U.S., Europe and Japan over the rest of the world. That dominance has only weakened mildly in recent years. Today the U.S. still owns far and away the largest vote share, at 15.6% of the Bank and 16.5% of the Fund, enough to single-handedly veto any major decision, which requires 85% of votes at either institution. Japan owns 7.35% of the votes at the Bank and 6.14% at the Fund; Germany 4.21% and 5.31%; France and the U.K. 3.87% and 4.03% each; and Italy 2.49% and 3.02%. By contrast, India with its 1.4 billion people only has 3.04% of the Bank's vote and just 2.63% at the Fund: less power than its former colonial master despite having a population 20 times bigger. China's 1.4 billion people get 5.7% at the Bank and 6.08% at the fund, roughly the same share as the Netherlands plus Canada and Australia. Brazil and Nigeria, the largest countries in Latin America and Africa, have about the same amount of sway as Italy, a former imperial power in full decline. Tiny Switzerland with just 8.6 million people has 1.47% of votes at the World Bank, and 1.17% of votes at the IMF: roughly the same share as Pakistan, Indonesia, Bangladesh, and Ethiopia combined, despite having 90 times fewer people. Population vs. IMF voting rights These voting shares are supposed to approximate each country's share of the world economy, but their imperial-era structure helps color how decisions are made. Sixty-five years after decolonization, the industrial powers led by the U.S. continue to have more or less total control over global trade and lending, while the poorest countries have in effect no voice at all. The G-5 (the U.S., Japan, Germany, the U.K. and France) dominate the IMF executive board, even though they make up a relatively small percent of the world's population. The G-10 plus Ireland, Australia, and Korea make up more than 50% of the votes, meaning that with a little pressure on its allies, the U.S. can make determinations even on specific loan decisions, which require a majority. To complement the IMF's trillion-dollar lending power, the World Bank group claims more than $350 billion in outstanding loans across more than 150 countries. This credit has spiked over the past two years, as the sister organizations have lent hundreds of billions of dollars to governments who locked down their economies in response to the COVID-19 pandemic. Over the past few months, the Bank and Fund began orchestrating billion-dollar deals to "save" governments endangered by the U.S. Federal Reserve's aggressive interest rate hikes. These clients are often human rights violators who borrow without permission from their citizens, who will ultimately be the ones responsible for paying back principal plus interest on the loans. The IMF is currently bailing out Egyptian dictator Abdel Fattah El-Sisi — responsible for the largest massacre of protestors since Tiananmen Square — for example, with $3 billion. Meanwhile, the World Bank was, during the past year, disbursing a $300 million loan to an Ethiopian government that was committing genocide in Tigray. The cumulative effect of Bank and Fund policies is much larger than the paper amount of their loans, as their lending drives bilateral assistance. It is estimated that "every dollar provided to the Third World by the IMF unlocks a further four to seven dollars of new loans and refinancing from commercial banks and rich-country governments." Similarly, if the Bank and Fund refuse to lend to a particular country, the rest of the world typically follows suit. It is hard to overstate the vast impact the Bank and Fund have had across developing nations, especially in their formative decades after World War II. By 1990 and the end of the Cold War, the IMF had extended credit to 41 countries in Africa, 28 countries in Latin America, 20 countries in Asia, eight countries in the Middle East and five countries in Europe, affecting 3 billion people, or what was then two-thirds of the global population. The World Bank has extended loans to more than 160 countries. They remain the most important international financial institutions on the planet. III. Structural Adjustment "Adjustment is an ever new and never-ending task" –Otmar Emminger, former IMF director and creator of SDR Today, financial headlines are filled with stories about IMF visits to countries like Sri Lanka and Ghana. The outcome is that the Fund loans billions of dollars to countries in crisis in exchange for what is known as structural adjustment. In a structural-adjustment loan, borrowers not only have to pay back principal plus interest: they also have to agree to change their economies according to Bank and Fund demands. These requirements almost always stipulate that clients maximize exports at the expense of domestic consumption. During research for this essay, the author learned much from the work of the development scholar Cheryl Payer, who wrote landmark books and papers on the influence of the Bank and Fund in the 1970s, 1980s and 1990s. This author may disagree with Payer's "solutions" — which, like those of most critics of the Bank and Fund, tend to be socialist — but many observations she makes about the global economy hold true regardless of ideology. "It is an explicit and basic aim of IMF programs," she wrote, "to discourage local consumption in order to free resources for export." This point cannot be stressed enough. The official narrative is that the Bank and Fund were designed to "foster sustainable economic growth, promote higher standards of living, and reduce poverty." But the roads and dams the Bank builds are not designed to help improve transport and electricity for locals, but rather to make it easy for multinational corporations to extract wealth. And the bailouts the IMF provides aren't to "save" a country from bankruptcy — which would probably be the best thing for it in many cases — but rather to allow it to pay its debt with even more debt, so that the original loan doesn't turn into a hole on a Western bank's balance sheet. In her books on the Bank and Fund, Payer describes how the institutions claim that their loan conditionality enables borrowing countries "to achieve a healthier balance of trade and payments." But the real purpose, she says, is "to bribe the governments to prevent them from making the economic changes which would make them more independent and self-supporting." When countries pay back their structural adjustment loans, debt service is prioritized, and domestic spending is to be "adjusted" downwards. IMF loans were often allocated through a mechanism called the "stand-by agreement," a line of credit that released funds only as the borrowing government claimed to achieve certain objectives. From Jakarta to Lagos to Buenos Aires, IMF staff would fly in (always first or business class) to meet undemocratic rulers and offer them millions or billions of dollars in exchange for following their economic playbook. Typical IMF demands would include: Currency devaluation Abolition or reduction of foreign exchange and import controls Shrinking of domestic bank credit Higher interest rates Increased taxes An end to consumer subsidies on food and energy Wage ceilings Restrictions on government spending, especially in healthcare and education Favorable legal conditions and incentives for multinational corporations Selling off state enterprises and claims on natural resources at fire sale prices The World Bank had its own playbook, too. Payer gives examples: The opening up of previously remote regions through transportation and telecommunications investments Aiding multinational corporations in the mining sector Insisting on production for export Pressuring borrowers to improve legal privileges for the tax liabilities of foreign investment Opposing minimum wage laws and trade union activity Ending protections for locally-owned businesses Financing projects that appropriate land, water and forests from poor people and hand them to multinational corporations Shrinking manufacturing and food production at the expense of the export of natural resources and raw goods Third World governments have historically been forced to agree to a mix of these policies — sometimes known as the "Washington Consensus" — in order to trigger the ongoing release of Bank and Fund loans. The former colonial powers tend to focus their "development" lending on former colonies or areas of influence: France in West Africa, Japan in Indonesia, Britain in East Africa and South Asia and the U.S. in Latin America. A notable example is the CFA zone, where 180 million people in 15 African countries are still forced to use a French colonial currency. At the suggestion of the IMF, in 1994 France devalued the CFA by 50%, devastating the savings and purchasing power of tens of millions of people living in countries ranging from Senegal to Ivory Coast to Gabon, all to make raw goods exports more competitive. The outcome of Bank and Fund policies on the Third World has been remarkably similar to what was experienced under traditional imperialism: wage deflation, a loss of autonomy and agricultural dependency. The big difference is that in the new system, the sword and the gun have been replaced by weaponized debt. Over the last 30 years, structural adjustment has intensified with regard to the average number of conditions in loans extended by the Bank and Fund. Before 1980, the Bank did not generally make structural adjustment loans, most everything was project- or sector-specific. But since then, "spend this however you want" bailout loans with economic quid pro quos have become a growing part of Bank policy. For the IMF, they are its lifeblood. For example, when the IMF bailed out South Korea and Indonesia with $57 billion and $43 billion packages during the 1997 Asian Financial Crisis, it imposed heavy conditionality. Borrowers had to sign agreements that "looked more like Christmas trees than contracts, with anywhere from 50 to 80 detailed conditions covering everything from the deregulation of garlic monopolies to taxes on cattle feed and new environmental laws," according to political scientist Mark S. Copelvitch. A 2014 analysis showed that the IMF had attached, on average, 20 conditions to each loan it gave out in the previous two years, a historic increase. Countries like Jamaica, Greece and Cyprus have borrowed in recent years with an average of 35 conditions each. It is worth noting that Bank and Fund conditions have never included protections on free speech or human rights, or restrictions on military spending or police violence. An added twist of Bank and Fund policy is what is known as the "double loan": money is lent to build, for example, a hydroelectric dam, but most if not all of the money gets paid to Western companies. So, the Third World taxpayer is saddled with principal and interest, and the North gets paid back double. The context for the double loan is that dominant states extend credit through the Bank and Fund to former colonies, where local rulers often spend the new cash directly back to multinational companies who profit from advising, construction or import services. The ensuing and required currency devaluation, wage controls and bank credit tightening imposed by Bank and Fund structural adjustment disadvantage local entrepreneurs who are stuck in a collapsing and isolated fiat system, and benefit multinationals who are dollar, euro or yen native. Another key source for this author has been the masterful book "The Lords of Poverty" by historian Graham Hancock, written to reflect on the first five decades of Bank and Fund policy and foreign assistance in general. "The World Bank," Hancock writes, "is the first to admit that out of every $10 that it receives, around $7 are in fact spent on goods and services from the rich industrialized countries." In the 1980s, when Bank funding was expanding rapidly around the world, he noted that "for every US tax dollar contributed, 82 cents are immediately returned to American businesses in the form of purchase orders." This dynamic applies not just to loans but also to aid. For example, when the U.S. or Germany sends a rescue plane to a country in crisis, the cost of transport, food, medicine and staff salaries are added to what is known as ODA, or "official development assistance." On the books, it looks like aid and assistance. But most of the money is paid right back to Western companies and not invested locally. Reflecting on the Third World Debt Crisis of the 1980s, Hancock noted that "70 cents out of every dollar of American assistance never actually left the United States." The U.K., for its part, spent a whopping 80% of its aid during that time directly on British goods and services. "One year," Hancock writes, "British tax-payers provided multilateral aid agencies with 495 million pounds; in the same year, however, British firms received contracts worth 616 million pounds." Hancock said that multilateral agencies could be "relied upon to purchase British goods and services with a value equivalent to 120% of Britain's total multilateral contribution." One starts to see how the "aid and assistance" we tend to think of as charitable is really quite the opposite. And as Hancock points out, foreign-aid budgets always increase no matter the outcome. Just as progress is evidence that the aid is working, a "lack of progress is evidence that the dosage has been insufficient and must be increased." Some development advocates, he writes, "argue that it would be inexpedient to deny aid to the speedy (those who advance); others, that it would be cruel to deny it to the needy (those who stagnate). Aid is thus like champagne: in success you deserve it, in failure you need it." IV. The Debt Trap "The concept of the Third World or the South and the policy of official aid are inseparable. They are two sides of the same coin. The Third World is the creation of the foreign aid: without foreign aid there is no Third World."  –Péter Tamás Bauer According to the World Bank, its objective is "to help raise living standards in developing countries by channeling financial resources from developed countries to the developing world." But what if the reality is the opposite? At first, beginning in the 1960s, there was an enormous flow of resources from rich countries to poor ones. This was ostensibly done to help them develop. Payer writes that it was long considered "natural" for capital to "flow in one direction only from the developed industrial economies to the Third World." The life cycle of a World Bank loan: positive, then deeply negative cash flows for the borrower country But, as she reminds us, "at some point the borrower has to pay more to his creditor than he has received from the creditor and over the life of the loan this excess is much higher than the amount that was originally borrowed." In global economics, this point happened in 1982, when the flow of resources permanently reversed. Ever since, there has been an annual net flow of funds from poor countries to rich ones. This began as an average of $30 billion per year flowing from South to North in the mid-to-late 1980s, and is today in the range of trillions of dollars per year. Between 1970 and 2007 — from the end of the gold standard to the Great Financial Crisis — the total debt service paid by poor countries to rich ones was $7.15 trillion. Net resource transfers from developing countries: increasingly negative since 1982 To give an example of what this might look like in a given year, in 2012 developing countries received $1.3 trillion, including all income, aid and investment. But that same year, more than $3.3 trillion flowed out. In other words, according to anthropologist Jason Hickel, "developing countries sent $2 trillion more to the rest of the world than they received." When all the flows were added up from 1960 to 2017, a grim truth emerged: $62 trillion was drained out of the developing world, the equivalent of 620 Marshall Plans in today's dollars. The IMF and World Bank were supposed to fix balance of payments issues, and help poor countries grow stronger and more sustainable. The evidence has been the direct opposite. "For every $1 of aid that developing countries receive," Hickel writes, "they lose $24 in net outflows." Instead of ending exploitation and unequal exchange, studies show that structural adjustment policies grew them in a massive way. Since 1970, the external public debt of developing countries has increased from $46 billion to $8.7 trillion. In the past 50 years, countries like India and the Philippines and the Congo now owe their former colonial masters 189 times the amount they owed in 1970. They have paid $4.2 trillion on interest payments alone since 1980. The exponential rise in developing country debt Even Payer — whose 1974 book "The Debt Trap" used economic flow data to show how the IMF ensnared poor countries by encouraging them to borrow more than they could possibly pay back — would be shocked at the size of today's debt trap. Her observation that "the average citizen of the US or Europe may not be aware of this enormous drain in capital from parts of the world they think of as being pitifully poor" still rings true today. To this author's own shame, he did not know about the true nature of the global flow of funds and simply assumed that rich countries subsidized poor ones before embarking on the research for this project. The end result is a literal Ponzi scheme, where by the 1970s, Third World debt was so big that it was only possible to service with new debt. It has been the same ever since. Many critics of the Bank and Fund assume that these institutions are working with their heart in the right place, and when they do fail, it is because of mistakes, waste or mismanagement. It is the thesis of this essay that this is not true, and that the foundational goals of the Fund and Bank are not to fix poverty but rather to enrich creditor nations at the expense of poor ones. This author is simply not willing to believe that a permanent flow of funds from poor countries to rich ones since 1982 is a "mistake." The reader may dispute that the arrangement is intentional, and rather may believe it is an unconscious structural outcome. The difference hardly matters to the billions of people the Bank and Fund have impoverished. V. Replacing the Colonial Resource Drain "I am so tired of waiting. Aren't you, for the world to become good and beautiful and kind? Let us take a knife and cut the world in two — and see what worms are eating at the rind."  –Langston Hughes By the end of the 1950s, Europe and Japan had largely recovered from war and resumed significant industrial growth, while Third World countries ran out of funds. Despite having healthy balance sheets in the 1940s and early 1950s, poor, raw-material-exporting countries ran into balance-of-payments issues as the value of their commodities tanked in the wake of the Korean War. This is when the debt trap began, and when the Bank and Fund started the floodgates of what would end up becoming trillions of dollars of lending. This era also marked the official end of colonialism, as European empires drew back from their imperial possessions. The establishment assumption in international development is that the economic success of nations is due "primarily to their internal, domestic conditions. High-income countries have achieved economic success," the theory goes, "because of good governance, strong institutions and free markets. Lower-income countries have failed to develop because they lack these things, or because they suffer from corruption, red tape and inefficiency." This is certainly true. But another major reason why rich countries are rich and poor countries are poor is that the former looted the latter for hundreds of years during the colonial period. "Britain's industrial revolution," Jason Hickel writes, "depended in large part on cotton, which was grown on land forcibly appropriated from Indigenous Americans, with labor appropriated from enslaved Africans. Other crucial inputs required by British manufacturers — hemp, timber, iron, grain — were produced using forced labor on serf estates in Russia and Eastern Europe. Meanwhile, British extraction from India and other colonies funded more than half the country's domestic budget, paying for roads, public buildings, the welfare state — all the markets of modern development — while enabling the purchase of material inputs necessary for industrialization." The theft dynamic was described by Utsa and Prabhat Patnaik in their book "Capital And Imperialism": colonial powers like the British empire would use violence to extract raw materials from weak countries, creating a "colonial drain" of capital that boosted and subsidized life in London, Paris and Berlin. Industrial nations would transform these raw materials into manufactured goods, and sell them back to weaker nations, profiting massively while also crowding out local production. And — critically — they would keep inflation at home down by suppressing wages in the colonial territories. Either through outright slavery or through paying well below the global market rate. As the colonial system began to falter, the Western financial world faced a crisis. The Patnaiks argue that the Great Depression was a result not simply of changes in Western monetary policy, but also of the colonial drain slowing down. The reasoning is simple: rich countries had built a conveyor belt of resources flowing from poor countries, and when the belt broke, so did everything else. Between the 1920s and 1960s, political colonialism became virtually extinct. Britain, the U.S., Germany, France, Japan, the Netherlands, Belgium and other empires were forced to give up control over more than half of the world's territory and resources. As the Patnaiks write, imperialism is "an arrangement for imposing income deflation on the Third World population in order to get their primary commodities without running into the problem of increasing supply price." Post 1960, this became the new function for the World Bank and IMF: recreating the colonial drain from poor countries to rich countries that was once maintained by straightforward imperialism. Post-colonial drain from the Global South to the Global North Officials in the U.S., Europe and Japan wanted to achieve "internal equilibrium" — in other words, full employment. But they realized they could not do this via subsidy inside an isolated system, or else inflation would run rampant. To achieve their goal would require external input from poorer countries. The extra surplus value extracted by the core from workers in the periphery is known as "imperialist rent." If industrial countries could get cheaper materials and labor, and then sell the finished goods back at a profit, they could inch closer to the technocrat dream economy. And they got their wish: as of 2019, wages paid to workers in the developing world were 20% the level of wages paid to workers in the developed world. As an example of how the Bank recreated the colonial drain dynamic, Payer gives the classic case of 1960s Mauritania in northwest Africa. A mining project called MIFERMA was signed by French occupiers before the colony became independent. The deal eventually became "just an old-fashioned enclave project: a city in a desert and a railroad leading to the ocean," as the infrastructure was solely focused on spiriting minerals away to international markets. In 1969, when the mine accounted for 30% of Mauritania's GDP and 75% of its exports, 72% of the income was sent abroad, and "practically all the income distributed locally to employees evaporated in imports." When the miners protested against the neocolonial arrangement, security forces savagely put them down. Geography of the drain from the Global South from 1960 to 2017 MIFERMA is a stereotypical example of the kind of "development" that would be imposed on the Third World everywhere from the Dominican Republic to Madagascar to Cambodia. And of these projects rapidly expanded in the 1970s, thanks to the petrodollar system. Post-1973, Arab OPEC countries with enormous surpluses from skyrocketing oil prices sank their profits into deposits and treasuries in Western banks, which needed a place to lend out their growing resources. Military dictators across Latin America, Africa and Asia made great targets: they had high time preferences and were happy to borrow against future generations. Helping expedite loan growth was the "IMF put": private banks started to believe (correctly) that the IMF would bail out countries if they defaulted, protecting their investments. Moreover, interest rates in the mid-1970s were often in negative real territory, further encouraging borrowers. This — combined with World Bank president Robert McNamara's insistence that assistance expand dramatically — resulted in a debt frenzy. U.S. banks, for example, increased their Third World loan portfolio by 300% to $450 billion between 1978 and 1982. The problem was that these loans were in large part floating interest rate agreements, and a few years later, those rates exploded as the U.S. Federal Reserve raised the global cost of capital close to 20%. The growing debt burden combined with the 1979 oil price shock and the ensuing global collapse in the price of commodities that power the value of developing country exports paved the way for the Third World Debt Crisis. To make matters worse, very little of the money borrowed by governments during the debt frenzy was actually invested in the average citizen. Third World debt service over time In their aptly named book "Debt Squads," investigative journalists Sue Branford and Bernardo Kucinski explain that between 1976 and 1981, Latin governments (of which 18 of 21 were dictatorships) borrowed $272.9 billion. Out of that, 91.6% was spent on debt servicing, capital flight and building up regime reserves. Only 8.4% was used on domestic investment, and even out of that, much was wasted. Brazilian civil society advocate Carlos Ayuda vividly described the effect of the petrodollar-fueled drain on his own country: "The military dictatorship used the loans to invest in huge infrastructure projects — particularly energy projects… the idea behind creating an enormous hydroelectric dam and plant in the middle of the Amazon, for example, was to produce aluminum for export to the North… the government took out huge loans and invested billions of dollars in building the Tucuruí dam in the late 1970s, destroying native forests and removing massive numbers of native peoples and poor rural people that had lived there for generations. The government would have razed the forests, but the deadlines were so short they used Agent Orange to defoliate the region and then submerged the leafless tree trunks underwater… the hydroelectric plant's energy [was then] sold at $13-20 per megawatt when the actual price of production was $48. So the taxpayers provided subsidies, financing cheap energy for transnational corporations to sell our aluminum in the international market." In other words, the Brazilian people paid foreign creditors for the service of destroying their environment, displacing the masses and selling their resources. Today the drain from low- and middle-income countries is staggering. In 2015, it totaled 10.1 billion tons of raw materials and 182 million person-years of labor: 50% of all goods and 28% of all labor used that year by high-income countries. VI. A Dance With Dictators "He may be a son of a bitch, but he's our son of a bitch."  –Franklin Delano Roosevelt Of course, it takes two sides to finalize a loan from the Bank or Fund. The problem is that the borrower is typically an unelected or unaccountable leader, who makes the decision without consulting with and without a popular mandate from their citizens. As Payer writes in "The Debt Trap," "IMF programs are politically unpopular, for the very good concrete reasons that they hurt local business and depress the real income of the electorate. A government which attempts to carry out the conditions in its Letter of Intent to the IMF is likely to find itself voted out of office." Hence, the IMF prefers to work with undemocratic clients who can more easily dismiss troublesome judges and put down street protests. According to Payer, the military coups in Brazil in 1964, Turkey in 1960, Indonesia in 1966, Argentina in 1966 and the Philippines in 1972 were examples of IMF-opposed leaders being forcibly replaced by IMF-friendly ones. Even if the Fund wasn't directly involved in the coup, in each of these cases, it arrived enthusiastically a few days, weeks or months later to help the new regime implement structural adjustment. The Bank and Fund share a willingness to support abusive governments. Perhaps surprisingly, it was the Bank that started the tradition. According to development researcher Kevin Danaher, "the Bank's sad record of supporting military regimes and governments that openly violated human rights began on August 7, 1947, with a $195 million reconstruction loan to the Netherlands. Seventeen days before the Bank approved the loan, the Netherlands had unleashed a war against anti-colonialist nationalist in its huge overseas empire in the East Indies, which had already declared its independence as the Republic of Indonesia." "The Dutch," Danaher writes, "sent 145,000 troops (from a nation with only 10 million inhabitants at the time, economically struggling at 90% of 1939 production) and launched a total economic blockade of nationalist-held areas, causing considerable hunger and health problems among Indonesia's 70 million inhabitants." In its first few decades the Bank funded many such colonial schemes, including $28 million for apartheid Rhodesia in 1952, as well as loans to Australia, the United Kingdom, and Belgium to "develop" colonial possessions in Papua New Guinea, Kenya and the Belgian Congo. In 1966, the Bank directly defied the United Nations, "continuing to lend money to South Africa and Portugal despite resolutions of the General Assembly calling on all UN-affiliated agencies to cease financial support for both countries," according to Danaher. Danaher writes that "Portugal's colonial domination of Angola and Mozambique and South Africa's apartheid were flagrant violations of the UN charter. But the Bank argued that Article IV, Section 10 of its Charter which prohibits interference in the political affairs of any member, legally obliged it to disregard the UN resolutions. As a result the Bank approved loans of $10 million to Portugal and $20 million to South Africa after the UN resolution was passed." Sometimes, the Bank's preference for tyranny was stark: it cut off lending to the democratically-elected Allende government in Chile in the early 1970s, but shortly after began to lend huge quantities of cash to Ceausescu's Romania, one of the world's worst police states. This is also an example of how the Bank and Fund, contrary to popular belief, didn't simply lend along Cold War ideological lines: for every right-wing Augusto Pinochet Ugarte or Jorge Rafael Videla client, there was a left-wing Josip Broz Tito or Julius Nyerere. In 1979, Danaher notes, 15 of the world's most repressive governments would receive a full third of all Bank loans. This even after the U.S. Congress and the Carter administration had stopped aid to four of the 15 — Argentina, Chile, Uruguay and Ethiopia — for "flagrant human rights violations." Just a few years later, in El Salvador, the IMF made a $43 million loan to the military dictatorship, just a few months after its forces committed the largest massacre in Cold War-era Latin America by annihilating the village of El Mozote. There were several books written about the Bank and the Fund in 1994, timed as 50-year retrospectives on the Bretton Woods institutions. "Perpetuating Poverty" by Ian Vàsquez and Doug Bandow is one of those studies, and is a particularly valuable one as it provides a Libertarian analysis. Most critical studies of the Bank and Fund are from the left: but the Cato Institute's Vásquez and Bandow saw many of the same problems. "The Fund underwrites any government," they write, "however venal and brutal… China owed the Fund $600 million as of the end of 1989; in January 1990, just a few months after the blood had dried in Beijing's Tiananmen Square, the IMF held a seminar on monetary policy in the city." Vásquez and Bandow mention other tyrannical clients ranging from military Burma, to Pinochet's Chile, Laos, Nicaragua under Anastasio Somoza Debayle and the Sandinistas, Syria, and Vietnam. "The IMF," they say, "has rarely met a dictatorship that it did not like." Vásquez and Bandow detail the Bank's relationship with the Marxist-Leninist Mengistu Haile Mariam regime in Ethiopia, where it provided for as much as 16% of the government's annual budget while it had one of the worst human rights records in the world. The Bank's credit arrived just as Mengistu's forces were "herding people into concentration camps and collective farms." They also point out how the Bank gave the Sudanese regime $16 million while it was driving 750,000 refugees out of Khartoum into the desert, and how it gave hundreds of millions of dollars to Iran — a brutal theocratic dictatorship — and Mozambique, whose security forces were infamous for torture, rape and summary executions. In his 2011 book "Defeating Dictators," the celebrated Ghanaian development economist George Ayittey detailed a long list of "aid-receiving autocrats": Paul Biya, Idriss Déby, Lansana Conté, Paul Kagame, Yoweri Museveni, Hun Sen, Islam Karimov, Nursultan Nazarbayev and Emomali Rahmon. He pointed out that the Fund had dispensed $75 billion to these nine tyrants alone. In 2014, a report was released by the International Consortium of Investigative Journalists, alleging that the Ethiopian government had used part of a $2 billion Bank loan to forcibly relocate 37,883 indigenous Anuak families. This was 60% of the country's entire Gambella province. Soldiers "beat, raped, and killed" Anuak who refused to leave their homes. Atrocities were so bad that South Sudan granted refugee status to Anuaks streaming in from neighboring Ethiopia. A Human Rights Watch report said that the stolen land was then "leased by the government to investors" and that the Bank's money was "used to pay the salaries of government officials who helped carry out the evictions." The Bank approved new funding for this "villagization" program even after allegations of mass human rights violations emerged. Mobutu Sese Soko and Richard Nixon at the White House in 1973 It would be a mistake to leave Mobutu Sese Soko's Zaire out of this essay. The recipient of billions of dollars of Bank and Fund credit during his bloody 32-year reign, Mobutu pocketed 30% of incoming aid and assistance and let his people starve. He complied with 11 IMF structural adjustments: during one in 1984, 46,000 public school teachers were fired and the national currency was devalued by 80%. Mobutu called this austerity "a bitter pill which we have no alternative but to swallow," but didn't sell any of his 51 Mercedes, any of his 11 chateaus in Belgium or France, or even his Boeing 747 or 16th century Spanish castle. Per capita income declined in each year of his rule on average by 2.2%, leaving more than 80% of the population in absolute poverty. Children routinely died before the age of five, and swollen-belly syndrome was rampant. It is estimated that Mobutu personally stole $5 billion, and presided over another $12 billion in capital flight, which together would have been more than enough to wipe the country's $14 billion debt clean at the time of his ouster. He looted and terrorized his people, and could not have done it without the Bank and Fund, which continued to bail him out even though it was clear he would never repay his debts. That all said, the true poster boy for the Bank and Fund's affection for dictators might be Ferdinand Marcos. In 1966, when Marcos came to power, the Philippines was the second-most prosperous country in Asia, and the country's foreign debt stood at roughly $500 million. By the time Marcos was removed in 1986, the debt stood at $28.1 billion. As Graham Hancock writes in "Lords Of Poverty," most of these loans "had been contracted to pay for extravagant development schemes which, although irrelevant to the poor, had pandered to the enormous ego of the head of state… a painstaking two-year investigation established beyond serious dispute that he had personally expropriated and sent out of the Philippines more than $10 billion. Much of this money — which of course, should have been at the disposal of the Philippine state and people — had disappeared forever in Swiss bank accounts." "$100 million," Hancock writes, "was paid for the art collection for Imelda Marcos… her tastes were eclectic and included six Old Masters purchased from the Knodeler Gallery in New York for $5 million, a Francis Bacon canvas supplied by the Marlborough Gallery in London, and a Michelangelo, 'Madonna and Child' bought from Mario Bellini in Florence for $3.5 million." "During the last decade of the Marcos regime," he says, "while valuable art treasuries were being hung on penthouse walls in Manhattan and Paris, the Philippines had lower nutritional standards than any other nation in Asia with the exception of war-torn Cambodia." To contain popular unrest, Hancock writes that Marcos banned strikes and "union organizing was outlawed in all key industries and in agriculture. Thousands of Filipinos were imprisoned for opposing the dictatorship and many were tortured and killed. Meanwhile the country remained consistently listed among the top recipients of both US and World Bank development assistance." After the Filipino people pushed Marcos out, they still had to pay an annual sum of anywhere between 40% and 50% of the entire value of their exports "just to cover the interest on the foreign debts that Marcos incurred." One would think that after ousting Marcos, the Filipino people would not have to owe the debt he incurred on their behalf without consulting them. But that is not how it has worked in practice. In theory, this concept is called "odious debt" and was invented by the U.S. in 1898 when it repudiated Cuba's debt after Spanish forces were ousted from the island. American leaders determined that debts "incurred to subjugate a people or to colonize them" were not legitimate. But the Bank and Fund have never followed this precedent during their 75 years of operations. Ironically, the IMF has an article on its website suggesting that Somoza, Marcos, Apartheid South Africa, Haiti's "Baby Doc" and Nigeria's Sani Abacha all borrowed billions illegitimately, and that the debt should be written off for their victims, but this remains a suggestion unfollowed. Technically and morally speaking, a large percentage of Third World debt should be considered "odious" and not owed anymore by the population should their dictator be forced out. After all, in most cases, the citizens paying back the loans didn't elect their leader and didn't choose to borrow the loans that they took out against their future. In July 1987, the revolutionary leader Thomas Sankara gave a speech to the Organistion of African Unity (OAU) in Ethiopia, where he refused to pay the colonial debt of Burkina Faso, and encouraged other African nations to join him. "We cannot pay," he said, "because we are not responsible for this debt." Sankara famously boycotted the IMF and refused structural adjustment. Three months after his OAU speech, he was assassinated by Blaise Compaoré, who would install his own 27-year military regime that would receive four structural adjustment loans from the IMF and borrow dozens of times from the World Bank for various infrastructure and agriculture projects. Since Sankara's death, few heads of state have been willing to take a stand to repudiate their debts. Burkinese dictator Blaise Compaoré and IMF managing director Dominique Strauss-Kahn. Compaoré seized power after assassinating Thomas Sankara (who tried to refuse Western debt) and he went on to borrow billions from the Bank and Fund. One big exception was Iraq: after the U.S. invasion and ouster of Saddam Hussein in 2003, American authorities managed to get some of the debt incurred by Hussein to be considered "odious" and forgiven. But this was a unique case: for the billions of people who suffered under colonialists or dictators, and have since been forced to pay their debts plus interest, they have not gotten this special treatment. In recent years, the IMF has even acted as a counter-revolutionary force against democratic movements. In the 1990s, the Fund was widely criticized on the left and the right for helping to destabilize the former Soviet Union as it descended into economic chaos and congealed into Vladimir Putin's dictatorship. In 2011, as the Arab Spring protests emerged across the Middle East, the Deauville Partnership with Arab Countries in Transition was formed and met in Paris. Through this mechanism, the Bank and Fund led massive loan offers to Yemen, Tunisia, Egypt, Morocco and Jordan — "Arab countries in transition" — in exchange for structural adjustment. As a result, Tunisia's foreign debt skyrocketed, triggering two new IMF loans, marking the first time that the country had borrowed from the Fund since 1988. The austerity measures paired with these loans forced the devaluation of the Tunisian dinar, which spiked prices. National protests broke out as the government continued to follow the Fund playbook with wage freezes, new taxes and "early retirement" in the public sector. Twenty-nine-year-old protestor Warda Atig summed up the situation: "As long as Tunisia continues these deals with the IMF, we will continue our struggle," she said. "We believe that the IMF and the interests of people are contradictory. An escape from submission to the IMF, which has brought Tunisia to its knees and strangled the economy, is a prerequisite to bring about any real change." VII. Creating Agricultural Dependence "The idea that developing countries should feed themselves is an anachronism from a bygone era. They could better ensure their food security by relying on the U.S. agricultural products, which are available in most cases at lower cost." –Former U.S. Secretary of Agriculture John Block As a result of Bank and Fund policy, all across Latin America, Africa, the Middle East, and South and East Asia, countries which once grew their own food now import it from rich countries. Growing one's own food is important, in retrospect, because in the post-1944 financial system, commodities are not priced with one's local fiat currency: they are priced in the dollar. Consider the price of wheat, which ranged between $200 and $300 between 1996 and 2006. It has since skyrocketed, peaking at nearly $1,100 in 2021. If your country grew its own wheat, it could weather the storm. If your country had to import wheat, your population risked starvation. This is one reason why countries like Pakistan, Sri Lanka, Egypt, Ghana and Bangladesh are all currently turning to the IMF for emergency loans. Historically, where the Bank did give loans, they were mostly for "modern," large-scale, mono-crop agriculture and for resource extraction: not for the development of local industry, manufacturing or consumption farming. Borrowers were encouraged to focus on raw materials exports (oil, minerals, coffee, cocoa, palm oil, tea, rubber, cotton, etc.), and then pushed to import finished goods, foodstuffs and the ingredients for modern agriculture like fertilizer, pesticides, tractors and irrigation machinery. The result is that societies like Morocco end up importing wheat and soybean oil instead of thriving on native couscous and olive oil, "fixed" to become dependent. Earnings were typically used not to benefit farmers, but to service foreign debt, purchase weapons, import luxury goods, fill Swiss bank accounts and put down dissent. Consider some of the world's poorest countries. As of 2020, after 50 years of Bank and Fund policy, Niger's exports were 75% uranium; Mali's 72% gold; Zambia's 70% copper; Burundi's 69% coffee; Malawi's 55% tobacco; Togo's 50% cotton; and on it goes. At times in past decades, these single exports supported virtually all of these countries' hard currency earnings. This is not a natural state of affairs. These items are not mined or produced for local consumption, but for French nuclear plants, Chinese electronics, German supermarkets, British cigarette makers, and American clothing companies. In other words, the energy of the labor force of these nations has been engineered toward feeding and powering other civilizations, instead of nourishing and advancing their own. Researcher Alicia Koren wrote about the typical agricultural impact of Bank policy in Costa Rica, where the country's "structural adjustment called for earning more hard currency to pay off foreign debt; forcing farmers who traditionally grew beans, rice, and corn for domestic consumption to plant non-traditional agricultural exports such as ornamental plants, flowers, melons, strawberries, and red peppers… industries that exported their products were eligible for tariff and tax exemptions not available to domestic producers." "Meanwhile," Koren wrote, "structural adjustment agreements removed support for domestic production… while the North pressured Southern nations to eliminate subsidies and 'barriers to trade,' Northern governments pumped billions of dollars into their own agricultural sectors, making it impossible for basic grains growers in the South to compete with the North's highly subsidized agricultural industry." Koren extrapolated her Costa Rica analysis to make a broader point: "Structural adjustment agreements shift public spending subsidies from basic supplies, consumed mainly by the poor and middle classes, to luxury export crops produced for affluent foreigners." Third World countries were not seen as body politics but as companies that needed to increase revenues and decrease expenditures. The testimony of a former Jamaican official is especially telling: "We told the World Bank team that farmers could hardly afford credit, and that higher rates would put them out of business. The Bank told us in response that this means 'The market is telling you that agriculture is not the way to go for Jamaica' — they are saying we should give up farming altogether." "The World Bank and IMF," the official said, "don't have to worry about the farmers and local companies going out of business, or starvation wages or the social upheaval that will result. They simply assume that it is our job to keep our national security forces strong enough to suppress any uprising." Developing governments are stuck: faced with insurmountable debt, the only factor they really control in terms of increasing revenue is deflating wages. If they do this, they must provide basic food subsidies, or else they will be overthrown. And so the debt grows. Even when developing countries try to produce their own food, they are crowded out by a centrally-planned global trade market. For example, one would think that the cheap labor in a place like West Africa would make it a better exporter of peanuts than the United States. But since Northern countries pay an estimated $1 billion in subsidies to their agriculture industries every single day, Southern countries often struggle to be competitive. What's worse, 50 or 60 countries are often directed to focus on the very same crops, crowding each other out in the global marketplace. Rubber, palm oil, coffee, tea and cotton are Bank favorites, as the poor masses can't eat them. It is true that the Green Revolution has created more food for the planet, especially in China and East Asia. But despite advances in agricultural technology, much of these new yields go to exports, and vast swathes of the world remain chronically malnourished and dependent. To this day, for example, African nations import about 85% of their food. They pay more than $40 billion per year — a number estimated to reach $110 billion per year by 2025 — to buy from other parts of the world what they could grow themselves. Bank and Fund policy helped transform a continent of incredible agricultural riches into one reliant on the outside world to feed its people. Reflecting on the results of this policy of dependency, Hancock challenges the widespread belief that the people of the Third World are "fundamentally helpless." "Victims of nameless crises, disasters, and catastrophes," he writes, suffer from a perception that "they can do nothing unless we, the rich and powerful, intervene to save them from themselves." But as evidenced by the fact that our "assistance" has only made them more dependent on us, Hancock rightfully unmasks the notion that "only we can save them" as "patronizing and profoundly fallacious." Far from playing the role of good samaritan, the Fund does not even follow the timeless human tradition, established more than 4,000 years ago by Hammurabi in ancient Babylon, of forgiving interest after natural disasters. In 1985, a devastating earthquake hit Mexico City, killing more than 5,000 people and causing $5 billion of damage. Fund staff — who claim to be saviors, helping to end poverty and save countries in crisis — arrived a few days later, demanding to be repaid. VIII. You Can't Eat Cotton "Development prefers crops that can't be eaten so the loans can be collected." –Cheryl Payer The Togolese democracy advocate Farida Nabourema's own personal and family experience tragically matches the big picture of the Bank and Fund laid out thus far. The way she puts it, after the 1970s oil boom, loans were poured into developing nations like Togo, whose unaccountable rulers didn't think twice about how they would repay the debt. Much of the money went into giant infrastructure projects that didn't help the majority of the people. Much was embezzled and spent on pharaonic estates. Most of these countries, she says, were ruled by single party-states or families. Once interest rates started to hike, these governments could no longer pay their debts: the IMF started "taking over" by imposing austerity measures. "These were new states that were very fragile," Nabourema says in an interview for this article. "They needed to invest strongly in social infrastructure, just as the European states were allowed to do after World War II. But instead, we went from free healthcare and education one day, to situations the next where it became too costly for the average person to get even basic medicine." Regardless of what one thinks about state-subsidized medicine and schooling, eliminating it overnight was traumatic for poor countries. Bank and Fund officials, of course, have their own private healthcare solutions for their visits and their own private schools for their children whenever they have to live "in the field." Because of the forced cuts in public spending, Nabourema says, the state hospitals in Togo remain to this day in "complete decay." Unlike the state-run, taxpayer-financed public hospitals in the capitals of former colonial powers in London and Paris, things are so bad in Togo's capital Lomé that even water has to be prescribed. "There was also," Nabourema said, "reckless privatization of our public companies." She explained how her father used to work at the Togolese steel agency. During privatization, the company was sold off to foreign actors for less than half of what the state built it for. "It was basically a garage sale," she said. Nabourema says that a free market system and liberal reforms work well when all participants are on an equal playing field. But that is not the case in Togo, which is forced to play by different rules. No matter how much it opens up, it can't change the strict policies of the U.S. and Europe, who aggressively subsidize their own industries and agriculture. Nabourema mentions how a subsidized influx of cheap used clothes from America, for example, ruined Togo's local textile industry. "These clothes from the West," she said, "put entrepreneurs out of business and littered our beaches." The most horrible aspect, she said, is that the farmers — who made up 60% of the population in Togo in the 1980s — had their livelihoods turned upside down. The dictatorship needed hard currency to pay its debts, and could only do this by selling exports, so they began a massive campaign to sell cash crops. With the World Bank's help, the regime invested heavily in cotton, so much so that it now dominates 50% of the country's exports, destroying national food security. In the formative years for countries like Togo, the Bank was the "largest single lender for agriculture." Its strategy for fighting poverty was agricultural modernization: "massive transfers of capital, in the form of fertilizers, pesticides, earth-moving equipment, and expensive foreign consultants." Nabourema's father was the one who revealed to her how imported fertilizers and tractors were diverted away from farmers growing consumption food, to farmers growing cash crops like cotton, coffee, cocoa and cashews. If someone was growing corn, sorghum or millet — the basic foodstuffs of the population — they didn't get access. "You can't eat cotton," Nabourema reminds us. Over time, the political elite in countries like Togo and Benin (where the dictator was literally a cotton mogul) became the buyer of all the cash crops from all of the farms. They'd have a monopoly on purchases, Nabourema says, and would buy the crops for prices so low that the peasants would barely make any money. This entire system — called "sotoco" in Togo — was based on funding provided by the World Bank. When farmers would protest, she said, they would get beaten or their farms would get burned to rubble. They could have just grown normal food and fed their families, like they had done for generations. But now they could not even afford the land: the political elite has been acquiring land at an outrageous rate, often through illegal means, jacking up the price. As an example, Nabourema explains how the Togolese regime might seize 2,000 acres of land: unlike in a liberal democracy (like the one in France, which has built its civilization off the backs of countries like Togo), the judicial system is owned by the government, so there is no way to push back. So farmers, who used to be self-sovereign, are now forced to work as laborers on someone else's land to provide cotton to rich countries far away. The most tragic irony, Nabourema says, is that cotton is overwhelmingly grown in the north of Togo, in the poorest part of the country. "But when you go there," she says, "you see it has made no one rich." Women bear the brunt of structural adjustment. The misogyny of the policy is "quite clear in Africa, where women are the major farmers and providers of fuel, wood, and water," Danaher writes. And yet, a recent retrospective says, "the World Bank prefers to blame them for having too many children rather than reexamining its own policies." As Payer writes, for many of the world's poor, they are poor "not because they have been left behind or ignored by their country's progress, but because they are the victims of modernisation. Most have been crowded off the good farmland, or deprived of land altogether, by rich elites and local or foreign agribusiness. Their destitution has not 'ruled them out' of the development process; the development process has been the cause of their destitution." "Yet the Bank," Payer says, "is still determined to transform the agricultural practices of small farmers. Bank policy statements make it clear that the real aim is integration of peasant land into the commercial sector through the production of a 'marketable surplus' of cash crops." Payer observed how, in the 1970s and 1980s, many small plotters still grew the bulk of their own food needs, and were not "dependent on the market for the near-totality of their sustenance, as 'modern' people were." These people, however, were the target of the Bank's policies, which transformed them into surplus producers, and "often enforced this transformation with authoritarian methods." In a testimony in front of U.S. Congress in the 1990s, George Ayittey remarked that "if Africa were able to feed itself, it could save nearly $15 billion it wastes on food imports. This figure may be compared with the $17 billion Africa received in foreign aid from all sources in 1997." In other words, if Africa grew its own food, it wouldn't need foreign aid. But if that were to happen, then poor countries wouldn't be buying billions of dollars of food per year from rich countries, whose economies would shrink as a result. So the West strongly resists any change. IX. The Development Set Excuse me, friends, I must catch my jet I'm off to join the Development Set My bags are packed, and I've had all my shots I have traveller's checks and pills for the trots! The Development Set is bright and noble Our thoughts are deep and our vision global Although we move with the better classes Our thoughts are always with the masses In Sheraton Hotels in scattered nations We damn multinational corporations Injustice seems easy to protest In such seething hotbeds of social rest. We discuss malnutrition over steaks And plan hunger talks during coffee breaks. Whether Asian floods or African drought We face each issue with open mouth. And so begins "The Development Set," a 1976 poem by Ross Coggins that hits at the heart of the paternalistic and unaccountable nature of the Bank and the Fund. The World Bank pays high, tax-free salaries, with very generous benefits. IMF staff are paid even better, and traditionally were flown first or business class (depending on the distance), never economy. They stayed in five-star hotels, and even had a perk to get free upgrades onto the supersonic Concorde. Their salaries, unlike wages made by people living under structural adjustment, were not capped and always rose faster than the inflation rate. Until the mid-1990s the janitors cleaning the World Bank headquarters in Washington — mostly immigrants who fled from countries that the Bank and Fund had "adjusted" — were not even allowed to unionize. In contrast, Christine Lagarde's tax-free salary as head of the IMF was $467,940, plus an additional $83,760 allowance. Of course, during her term from 2011 to 2019, she oversaw a variety of structural adjustments on poor countries, where taxes on the most vulnerable were almost always raised. Graham Hancock notes that redundancy payments at the World Bank in the 1980s "averaged a quarter of a million dollars per person." When 700 executives lost their jobs in 1987, the money spent on their golden parachutes — $175 million — would have been enough, he notes, "to pay for a complete elementary school education for 63,000 children from poor families in Latin America or Africa." According to former World Bank head James Wolfensohn, from 1995 to 2005 there were more than 63,000 Bank projects in developing countries: the costs of "feasibility studies" and travel and lodging for experts from industrialized countries alone absorbed as much as 25% of the total aid. Fifty years after the creation of the Bank and Fund, "90% of the $12 billion per year in technical assistance was still spent on foreign expertise." That year, in 1994, George Ayittey noted that 80,000 Bank consultants worked on Africa alone, but that "less than .01%" were Africans. Hancock writes that "the Bank, which puts more money into more schemes in more developing countries than any other institution, claims that 'it seeks to meet the needs of the poorest people;' but at no stage in what it refers to as the 'project cycle' does it actually take the time to ask the poor themselves how they perceive their needs… the poor are entirely left out of the decision-making progress — almost as if they don't exist." Bank and Fund policy is forged in meetings in lavish hotels between people who will never have to live a day in poverty in their lives. As Joseph Stiglitz argues in his own criticism of the Bank and Fund, "modern high-tech warfare is designed to remove physical contact: dropping bombs from 50,000 feet ensures that one does not 'feel' what one does. Modern economic management is similar: from one's luxury hotel, one can callously impose policies about which one would think twice if one knew the people whose lives one was destroying." Strikingly, Bank and Fund leaders are sometimes the very same people who drop the bombs. For example, Robert McNamara — probably the most transformative person in Bank history, famous for massively expanding its lending and sinking poor countries into inescapable debt — was first the CEO of the Ford corporation, before becoming U.S. defense secretary, where he sent 500,000 American troops to fight in Vietnam. After leaving the Bank, he went straight to the board of Royal Dutch Shell. A more recent World Bank head was Paul Wolfowitz, one of the key architects of the Iraq War. The development set makes its decisions far away from the populations who end up feeling the impact, and they hide the details behind mountains of paperwork, reports and euphemistic jargon. Like the old British Colonial Office, the set conceals itself "like a cuttlefish, in a cloud of ink." The prolific and exhausting histories written by the set are hagiographies: the human experience is airbrushed out. A good example is a study called "Balance of Payments Adjustment, 1945 to 1986: The IMF Experience." This author had the tedious experience of reading the entire tome. Benefits from colonialism are entirely ignored. The personal stories and human experiences of the people who suffered under Bank and Fund policy are elided. Hardship is buried under countless charts and statistics. These studies, which dominate the discourse, read as if their main priority is to avoid offending Bank or Fund staff. Sure, the tone implies that perhaps mistakes were made here or there, but the intentions of the Bank and Fund are good. They are here to help. In one example from the aforementioned study, structural adjustment in Argentina in 1959 and 1960 is described as such: "While the measures had initially reduced the standard of living of a vast sector of the Argentine population, in relatively short time these measures had resulted in a favorable trade balance and balance of payments, an increase in foreign exchange reserves, a sharp reduction in the rate of increases in the cost of living, a stable exchange rate, and increased domestic and foreign investment." In layman's terms: Sure, there was enormous impoverishment of the entire population, but hey, we got a better balance sheet, more savings for the regime, and more deals with multinational corporations. The euphemisms keep coming. Poor countries are consistently described as "test cases." The lexicon and jargon and language of development economics is designed to hide what is actually happening, to mask the cruel reality with terms and process and theory, and to avoid stating the underlying mechanism: rich countries siphoning resources from poor countries and enjoying double standards that enrich their populations while impoverishing people elsewhere. The apotheosis of the Bank and Fund's relationship with the developing world is their annual meeting in Washington, D.C.: a grand festival on poverty in the richest country on earth. "Over mountainous piles of beautifully prepared food," Hancock writes, "huge volumes of business get done; meanwhile staggering displays of dominance and ostentation get smoothly blended with empty and meaningless rhetoric about the predicament of the poor." "The 10,000 men and women attending," he writes, "look extraordinarily unlikely to achieve [their] noble objectives; when not yawning or asleep at the plenary sessions they are to be found enjoying a series of cocktail parties, lunches, afternoon teas, dinners, and midnight snacks lavish enough to surfeit the greenest gourmand. The total cost of the 700 social events laid on for delegates during a single week [in 1989] was estimated at $10 million — a sum of money that might, perhaps, have better 'served the needs of the poor' had it been spent in some other way." This was 33 years ago: one can only imagine the cost of these parties in today's dollars. In his book "The Fiat Standard," Saifedean Ammous has a different name for the development set: the misery industry. His description is worth quoting at length: "When World Bank planning inevitably fails and the debts cannot be repaid, the IMF comes in to shake down the deadbeat countries, pillage their resources, and take control of political institutions. It is a symbiotic relationship between the two parasitic organizations that generates a lot of work, income and travel for the misery industry's workers — at the expense of the poor countries that have to pay for it all in loans." "The more one reads about it," Ammous writes, "the more one realizes how catastrophic it has been to hand this class of powerful yet unaccountable bureaucrats an endless line of fiat credit and unleash them on the world's poor. This arrangement allows unelected foreigners with nothing at stake to control and centrally plan entire nations' economies…. Indigenous populations are removed from their lands, private businesses are closed to protect monopoly rights, taxes are raised, and property is confiscated… tax-free deals are provided to international corporations under the auspices of the International Financial Institutions, while local producers pay ever-higher taxes and suffer from inflation to accommodate their governments' fiscal incontinence." "As part of the debt relief deals signed with the misery industry," he continues, "governments were asked to sell off some of their most prized assets. This included government enterprises, but also national resources and entire swaths of land. The IMF would usually auction these to multinational corporations and negotiate with governments for them to be exempt from local taxes and laws. After decades of saturating the world with easy credit, the IFIs spent the 1980s acting as repo men. They went through the wreckage of third-world countries devastated by their policies and sold whatever was valuable to multinational corporations, giving them protection from the law in the scrap heaps in which they operated. This reverse Robin Hood redistribution was the inevitable consequence of the dynamics created when these organizations were endowed with easy money." "By ensuring the whole world stays on the U.S. dollar standard," Ammous concludes, "the IMF guarantees the US can continue to operate its inflationary monetary policy and export its inflation globally. Only when one understands the grand larceny at the heart of the global monetary system can one understand the plight of developing countries." X. White Elephants "What Africa needs to do is grow, grow out of debt."  –George Ayittey By the mid-1970s, it was clear to Western policymakers, and especially to Bank president Robert McNamara, that the only way poor countries would be able to pay back their debt was with more debt. The IMF had always paired its lending with structural adjustment, but for its first few decades, the Bank would give project-specific or sector-specific loans with no additional conditions attached. This changed during McNamara's tenure, as less specific structural adjustment loans became popular and then even dominant at the Bank during the 1980s. The reason was simple enough: Bank workers had a lot more money to lend out, and it was easier to give away large sums if the money was not tied to specific projects. As Payer notes, "twice as many dollars per staff week of work" could be disbursed through structural adjustment loans. The borrowers, Hancock says, couldn't be happier: "Corrupt ministers of finance and dictatorial presidents from Asia, Africa and Latin America tripped over their own expensive footwear in their unseemly haste to get adjusted. For such people money was probably never easier to obtain: with no complicated projects to administer and no messy accounts to keep, the venal, the cruel and the ugly laughed literally all the way to the bank. For them structural adjustment was like a dream come true. No sacrifices were demanded of them personally. All they had to do — amazing but true — was screw the poor." Beyond "general use" structural adjustment loans, the other way to spend large amounts of money was to finance massive, individual projects. These would become known as "white elephants," and their carcasses still dot the deserts, mountains and forests of the developing world. These behemoths were notorious for their human and environmental devastation. A good example would be the billion-dollar Inga dams, built in Zaire in 1972, whose Bank-funded architects electrified the exploitation of the mineral-rich Katanga province, without installing any transformers along the way to help the vast numbers of villagers who were still using oil lamps. Or the Chad-Cameroon pipeline in the 1990s: this $3.7 billion, Bank-funded project was built entirely to siphon resources out of the ground to enrich the Deby dictatorship and its foreign collaborators, without any benefits for the people. Between 1979 and 1983, Bank-financed hydroelectric projects "resulted in the involuntary resettlement of at least 400,000 to 450,000 people on four continents." Hancock details many such white elephants in "Lords Of Poverty." One example is the Singrauli Power and Coal Mining Complex in India's Uttar Pradesh state, which received nearly a billion dollars in Bank funding. The Singrauli coal fields "Here," Hancock writes, "because of 'development,' 300,000 poor rural people were subjected to frequent forced relocations as new mines and power stations opened… the land was totally destroyed and resembled scenes out of the lower circles of Dante's inferno. Enormous amounts of dust and air and water pollution of every conceivable sort created tremendous public health problems. Tuberculosis was rampant, potable water supplies destroyed, and chloroquine-resistant malaria afflicted the area. Once prosperous villages and hamlets were replaced by unspeakable hovels and shacks on the edges of huge infrastructure projects… some people were living inside the open pit mines. Over 70,000 previously self-sufficient peasant farmers — deprived of all over possible sources of income — had no choice but to accept the indignity of intermittent employment at Singrauli for salaries of around 70 cents a day: below survival level even in India." In Guatemala, Hancock describes a giant hydroelectric dam called the Chixoy, built with World Bank support in the Mayan highlands. "Originally budgeted at $340 million," he writes, "the construction costs had risen to $1 billion by the time the dam was opened in 1985… the money was lent to the Guatemalan government by a consortium [led] by the World Bank… General Romero Lucas Arica's military government, in power during the bulk of the construction phase and which signed the contract with the World Bank, was recognized by political analysts as having been the most corrupt administration in the history of a Central American country in a region that has been afflicted by more than its fair share of venal and dishonest regimes… members of the junta pocketed about $350 million out of the $1 billion provided for Chixoy." And finally in Brazil, Hancock details one of the Bank's most harmful projects, a "massive colonization and resettlement scheme" known as Polonoroeste. By 1985, the Bank had committed $434.3 million to the initiative, which ended up transforming "poor people into refugees in their own land." The scheme "persuaded hundreds of thousands of needy people to migrate from Brazil's central and southern provinces and relocate themselves as farmers in the Amazon basin" to generate cash crops. "The Bank's money," Hancock wrote, "paid for the speedy paving of Highway BR-364 which runs into the heart of the north-western province of Rondonia. All the settlers traveled along this road on their way to farms that they slashed and burned out of the jungle… Already 4% deforested in 1982, Rondonia was 11% deforested by 1985. NASA space surveys showed that the area of deforestation was doubled approximately every two years." As a result of the project, in 1988 "tropical forests covering an area larger than Belgium were burnt by settlers." Hancock also notes that "more than 200,000 settlers were estimated to have contracted a particularly virulent strain of malaria, endemic in the north-west, to which they had no resistance." Such grotesque projects were the result of the massive growth of lending institutions, a detachment of the creditors from the actual places they were lending to, and management by unaccountable local autocrats who pocketed billions along the way. They were the outcome of policies that tried to lend as much money as possible to Third World countries to keep the debt Ponzi going and to keep the flow of resources from south to north moving. The grimmest example of all might be found in Indonesia. XI. A Real-Life Pandora: The Exploitation Of West Papua "You want a fair deal, you're on the wrong planet." –Jake Sully The island of New Guinea is resource-rich beyond imagination. It contains, just for starters: the third-largest expanse of tropical rainforest in the world, after the Amazon and the Congo; the world's largest gold and copper mine at Grasberg, in the shadow of the 4,800 meter "Seven Summit" peak of Puncak Jaya; and, offshore, the Coral Triangle, a tropical sea known for its "unparalleled" reef diversity. And yet, the people of the island, especially those living in the California-sized Western half under Indonesian control, are some of the poorest in the world. Resource colonialism has long been a curse for the residents of this territory, known as West Papua. Whether the pillage was committed by the Dutch, or, in more recent decades, the Indonesian government, imperialists have found generous support from the Bank and the Fund. This essay already mentioned how one of the World Bank's first loans was to the Dutch, which it used to try and sustain its colonial empire in Indonesia. In 1962, Imperial Holland was finally defeated, and gave up control over West Papua to the Sukarno government as Indonesia became independent. However, the Papuans (also known as the Irianese) wanted their own freedom. In the course of that decade — as the IMF credited the Indonesian government with more than $100 million — Papuans were purged from positions of leadership. In 1969, in an event that would make Geroge Orwell's Oceania blush, Jakarta held the "Act of Free Choice," a poll where 1,025 people were rounded up and forced to vote in front of armed soldiers. The results to join Indonesia were unanimous, and the vote was ratified by the UN General Assembly. After that, locals had no say in what "development" projects would proceed. Oil, copper and timber were all harvested and removed from the island in the following decades, with no involvement by Papuans, except as forced labor. The mines, highways and ports in West Papua were not built with the wellbeing of the population in mind, but rather were built to loot the island as efficiently as possible. As Payer was able to observe even in 1974, the IMF helped transform Indonesia's vast natural resources into "mortgages for an indefinite future to subsidize an oppressive military dictatorship and to pay for imports which supported the lavish lifestyle of the generals in Jakarta." A 1959 article on the discovery of gold in the area is the beginning of the story of what would later become the Grasberg mine, the world's lowest-cost and largest producer of copper and gold. In 1972, the Phoenix-based Freeport signed a deal with Indonesian dictator Suharto to extract gold and copper from West Papua, without any consent from the indigenous population. Until 2017, Freeport controlled 90% of the project's shares, with 10% in the hands of the Indonesian government and 0% for the Amungme and Kamoro tribes who actually inhabit the area. The Grasberg mine By the time Grasberg's treasures are fully depleted by the Freeport corporation, the project will have generated some six billion tons of waste: more than twice as much rock as was excavated to dig the Panama Canal. The ecosystems downstream from the mine have since been devastated and stripped of life as more than a billion tons of waste have been dumped "directly into a jungle river of what had been one of the world's last untouched landscapes." Satellite reports show the devastation wrought by the ongoing dumping of more than 200,000 of toxic tailings per day into an area that contains the Lorentz National Park, a world heritage site. Freeport remains the largest foreign taxpayer in Indonesia and the biggest employer in West Papua: it plans to stay until 2040, when the gold will run out. As the World Bank writes candidly in its very own report on the region, "international business interests want better infrastructure in order to extract and export the non-renewable mineral and forest assets." By far the most shocking program that the Bank financed in West Papua was "transmigration," a euphemism for settler colonialism. For more than a century, the powers in control of Java (home to most of Indonesia's population) dreamed of moving large chunks of Javanese to farther-flung islands in the archipelago. Not just to spread things out, but also to ideologically "unify" the territory. In a 1985 speech, the Minister of Transmigration said that "by way of transmigration, we will try to … integrate all the ethnic groups into one nation, the Indonesian nation… The different ethnic groups will in the long run disappear because of integration … there will be one kind of man." These efforts to resettle Javanese — known as "Transmigrasi" — began during colonial times, but in the 1970s and 1980s the World Bank began financing these activities in an aggressive way. The Bank allocated hundreds of millions of dollars to the Suharto dictatorship to allow it to "transmigrate" what were hoped to be millions of people to places like East Timor and West Papua in what was "the world's largest-ever exercise in human resettlement." By 1986, the Bank had committed no less than $600 million directly to support transmigration, which entailed "a breathtaking combination of human rights abuses and environmental destruction." Consider the story of the Sago palm, one of the main traditional foodstuffs of Papuans. One tree alone was able to supply food for a family for six to 12 months. But the Indonesian government, at the encouragement of the Bank, came and said no, this is not working: you need to eat rice. And so the Sago gardens were cut down to grow rice for export. And the locals were forced to buy rice in the market, which simply made them more dependent on Jakarta. Any resistance was met with brutality. Especially under Suharto — who held as many as 100,000 political prisoners — but even today in 2022, West Papua is a police state almost without rival. Foreign journalists are virtually banned; free speech does not exist; the military operates without any accountability. NGOs like Tapol document a legion of human rights violations ranging from mass surveillance of personal devices, restrictions on when and for what reason people can leave their homes and even rules on how Papuans can wear their hair. Between 1979 and 1984, some 59,700 transmigrants were taken to West Papua, with "large scale" support from the World Bank. More than 20,000 Papuans fled the violence into neighboring Papua New Guinea. Refugees reported to international media that "their villages were bombed, their settlements burned, women raped, livestock killed, and numbers of people indiscriminately shot while others were imprisoned and tortured." A subsequent project backed by a $160 million Bank loan in 1985 was called "Transmigration V": the seventh Bank-funded project in support of settler colonialism, it aimed to finance the relocation of 300,000 families between 1986 and 1992. The regime's governor of West Papua at the time described the indigenous people as "living in a stone-age era" and called for a further two million Javanese migrants to be sent to the islands so that "backwards local people could intermarry with the newcomers thus giving birth to a new generation of people without curly hair." The original and final versions of the Transmigration V loan agreement were leaked to Survival International: the original version made "extensive reference to the bank's policies on tribal peoples and provides a list of measures that would be required to comply with these," but the final version made "no reference to the bank's policies." Cultural genocide in West Papua Transmigration V ran into budget issues, and was cut short, but ultimately 161,600 families were moved, at a cost of 14,146 Bank staff months. The Bank was clearly financing cultural genocide: today, Ethnic Papuans make up no more than 30% of the territory's population. But social engineering wasn't the only goal of taking money from the Bank: 17% of funds for transmigration projects were estimated to have been stolen by government officials. Fifteen years later on December 11, 2001, the World Bank approved a $200 million loan to "improve road conditions'' in West Papua and other parts of Eastern Indonesia. The project, known as EIRTP, aimed to "improve the condition of national and other strategic arterial roads in order to reduce transport costs and provide more reliable access among provincial centers, regional development and production areas, and other key transport facilities. Reducing road transport costs," the Bank said, "will help to lower input prices, raise output prices and increase the competitiveness of local products from the affected areas." In other words: the Bank was helping to extract resources as efficiently as possible. The Bank and Fund's history in Indonesia is so outrageous that it seems like it must be from another time, ages ago. But that's simply not true. Between 2003 and 2008, the Bank funded palm oil development in Indonesia to the tune of nearly $200 million and hired private companies who were alleged to have "used fire to clear primary forests and seize lands belonging to indigenous people without due process." Today, the Indonesian government remains on the hook for the EIRTP loan. In the past five years, the Bank has collected $70 million in interest payments from the Indonesian government and taxpayer, all for its efforts to accelerate the extraction of resources from islands like West Papua. XII. The World's Biggest Ponzi "Countries don't go bankrupt."  –Walter Wriston, former chairman of Citibank One might consider bankruptcy an important and even essential part of capitalism. But the IMF basically exists to prevent the free market from working as it normally would: it bails out countries that normally would go bankrupt, forcing them instead deeper into debt. The Fund makes the impossible possible: small, poor countries hold so much debt that they could never pay it all off. These bailouts corrupt the incentives of the global financial system. In a true free market, there would be serious consequences for risky lending: the creditor bank could lose its money. The exponential rise of Third World debt When the U.S., Europe or Japan made their deposits at the Bank and Fund, it was similar to purchasing insurance on their ability to extract wealth from developing nations. Their private banks and multinational corporations are protected by the bailout scheme, and on top of it, they earn handsome, steady interest (paid for by poor countries) on what is widely perceived to be humanitarian assistance. As David Graeber writes in "Debt," when banks "lent money to dictators in Bolivia and Gabon in the late '70s: [they made] utterly irresponsible loans with the full knowledge that, once it became known they had done so, politicians and bureaucrats would scramble to ensure that they'd still be reimbursed anyway, no matter how many lives had to be devastated and destroyed in order to do it." Kevin Danaher describes the tension that began to emerge in the 1960s: "Borrowers began to pay back more annually to the Bank than it disbursed in new loans. In 1963, 1964, and 1969 India transferred more money to the World Bank than the Bank disbursed to it." Technically, India was paying off its debts plus interest, but the Bank's leadership saw a crisis. "To solve the problem," Danaher continues, Bank president Robert McNamara increased lending "at a phenomenal rate, from $953 million in 1968 to $12.4 billion in 1981." The number of IMF lending programs also "more than doubled" from 1976 to 1983, mostly to poor countries. The Bank and the Fund's assurances led the world's titanic money center banks as well as hundreds of regional and local banks in the U.S. and Europe — "most of them with little or no previous history of foreign lending" — to go on an unprecedented lending spree. The Third World debt bubble finally burst in 1982, when Mexico announced a default. According to official IMF history, "private bankers envisaged the dreaded possibility of a widespread repudiation of debts, such as had occurred in the 1930s: at that time the debt owed by debtor countries to industrial counties was mostly in the form of securities issued by debtor countries in the US and in the form of bonds sold abroad; in the 1980s the debt was almost entirely in the form of short and medium term loans from commercial banks in the industrial members. Monetary authorities of industrial members instantly realized the urgency of the problem posed for the world's banking system." In other words: the threat that the banks of the West might have holes on their balance sheet was the danger: not that millions would die of austerity programs in poor countries. In her book "A Fate Worse Than Debt," the development critic Susan George charts how the top-nine largest U.S. banks all had placed more than 100% of their shareholders' equity in "loans to Mexico, Brazil, Argentina, and Venezuela alone." The crisis was averted, however, as the IMF helped credit flow to Third World countries, even though they should have gone bankrupt. "Simply put," according to a technical analysis of the Fund, its programs "provide bailouts for private lenders to emerging markets, thereby allowing international creditors to benefit from foreign lending without bearing the full risks involved: the banks reap significant profits if borrowers repay their debts and avoid losses if financial crisis occur" Latin American citizens suffered under structural adjustment, but between 1982 and 1985. George reported that "in spite of over-exposure to Latin America, dividends declared by the big nine banks increased by more than a third during the same period." Profits in that time rose by 84% at Chase Manhattan and 66% at Banker's Trust, and stock value rose by 86% at Chase and 83% at Citicorp. "Clearly," she wrote, "austerity is not the term to describe the experiences since 1982 of either the Third World elite or the international banks: the parties that contracted the loans in the first place." The "generosity" of the West enabled unaccountable leaders to plunge their nations into debt deeper than ever before. The system was, as Payer writes in "Lent And Lost," a straightforward Ponzi scheme: the new loans went straight to paying for the old loans. The system needed to grow to avoid collapse. "By keeping financing going," an IMF managing director said, according to Payer, structural adjustment loans "permitted trade that might otherwise not have been possible." Given that the Bank and Fund will prevent even the most comically corrupt and wasteful governments from going bankrupt, private banks adapted their behavior accordingly. A good example would be Argentina, which has received 22 IMF loans since 1959, even trying to default in 2001. One would think that creditors would stop lending to such a profligate borrower. But in fact, just four years ago, Argentina received the largest IMF loan of all time, a staggering $57.1 billion. Payer summed up "The Debt Trap" by stating that the moral of her work was "both simple and old-fashioned: that nations, like individuals, cannot spend more than they earn without falling into debt, and a heavy debt burden bars the way to autonomous action." But the system makes the deal too sweet for the creditors: profits are monopolized while losses are socialized. Payer realized this even 50 years ago in 1974, and hence concluded that "in the long run it is more realistic to withdraw from an exploitative system and suffer the dislocation of readjustment than it is to petition the exploiters for a degree of relief." XIII. Do As I Say, Not As I Do "Our lifestyle is not up for negotiation."  –George H.W. Bush In a true global free market, the policies that the Bank and Fund impose on poor countries might make sense. After all, the record of socialism and large-scale nationalization of industry is disastrous. The problem is, the world is not a free market, and double standards are everywhere. Subsidies — for example, free rice in Sri Lanka or discounted fuel in Nigeria — are ended by the IMF, yet creditor nations like the U.K. and U.S. extend state-funded healthcare and crop subsidies to their own populations. One can take a Libertarian or Marxist view and arrive at the same conclusion: this is a double standard which enriches some countries at the expense of others, with most citizens of rich countries blissfully unaware. To help build out from the rubble of World War II, IMF creditors relied heavily on central planning and anti-free market policy for the first few decades after Bretton Woods: for example, import restrictions, capital outflow limits, foreign exchange caps and crop subsidies. These measures protected industrial economies when they were most vulnerable. In the U.S., for example, the Interest Equalization Act was passed by John F. Kennedy to stop Americans from buying foreign securities and instead focus them on domestic investing. This was one of many measures to tighten capital controls. But the Bank and Fund have historically prevented poor countries from using the same tactics to defend themselves. As Payer observes, "The IMF has never played a deciding role in the adjustment of exchange rates and trade practices among the wealthy developed nations… It is the weaker nations which are subjected to the full force of the IMF principles… the inequality of power relationships meant that the Fund could do nothing about market 'distortions' (such as trade protection) which were practiced by the rich countries." Cato's Vásquez and Bandow came to a similar conclusion, noting that "most industrialized nations have maintained a patronizing attitude towards underdeveloped nations, hypocritically shutting out their exports." In the early 1990s, while the U.S. stressed the importance of free trade, it "erected a virtual iron curtain against [Eastern Europe's] exports, including textiles, steel, and agricultural products." Poland, Czechoslovakia, Hungary, Romania, Bosnia, Croatia, Slovenia, Azerbaijan, Belarus, Georgia, Kazakhstan, Kyrgyzstan, Moldova, Russia, Tajikistan, Turkmenistan, Ukraine and Uzbekistan were all targeted. The U.S. prevented Eastern European nations from selling "a single pound of butter, dry milk, or ice cream in America" and both the Bush and Clinton administrations imposed stiff chemical and pharmaceutical import restrictions on the region. It is estimated that protectionism by industrial countries "reduces developing countries' national income by roughly twice as much as provided by development assistance." In other words, if Western nations simply opened their economies, they wouldn't have to provide any development assistance at all. There is a sinister twist to the arrangement: when a Western country (i.e., the U.S.) runs into an inflationary crisis — like today's — and is forced to tighten its monetary policy, it actually gains more control over developing countries and their resources, whose dollar debt becomes much more difficult to pay back, and who fall deeper into the debt trap, and deeper into Bank and Fund conditionality. In 2008, during the Great Financial Crisis, American and European authorities lowered interest rates and juiced up banks with extra cash. During the Third World Debt Crisis and the Asian Financial Crisis, the Bank and Fund refused to permit this kind of behavior. Instead, the recommendation to afflicted economies was to tighten at home and borrow more from abroad. In September 2022, newspaper headlines stated that the IMF was "worried" about inflation in the United Kingdom, as its bond market teetered on the brink of collapse. This is of course another hypocrisy, given that the IMF did not seem worried about inflation when it imposed currency devaluation on billions of people for decades. Creditor nations play by different rules. In a final case of "do as I say, not as I do," the IMF still holds a whopping 90.5 million ounces — or 2,814 metric tons — of gold. Most of this was accumulated in the 1940s, when members were forced to pay 25% of their original quotas in gold. In fact, until the 1970s, members "normally paid all interest owed on IMF credit in gold." When Richard Nixon formally ended the gold standard in 1971, the IMF did not sell its gold reserves. And yet, attempts by any member countries to fix their currency to gold are forbidden. XIV. Green Colonialism "If you turned the electricity off for a few months in any developed Western society, 500 years of supposed philosophical progress about human rights and individualism would quickly evaporate like they never happened."  –Murtaza Hussain In the past few decades, a new double standard has emerged: green colonialism. This, at least, is what the Senegalese entrepreneur Magatte Wade calls the West's hypocrisy over energy use in an interview for this article. Wade reminds us that industrial countries developed their civilizations by utilizing hydrocarbons (in large part stolen or bought on the cheap from poor countries or colonies), but today the Bank and Fund try to push policies which prohibit the developing world from doing the same. Where the U.S. and U.K. were able to use coal and the Third World's oil, the Bank and Fund want African countries to use solar and wind manufactured and financed by the West. This hypocrisy was on display a few weeks ago in Egypt, where world leaders gathered at COP 27 (the Sharm el-Sheikh Climate Change Conference) to discuss how to reduce energy use. The location on the African continent was intentional. Western leaders — currently scrambling to import more fossil fuels after their access to Russian hydrocarbons was curtailed — flew in on gas-guzzling private jets to plead with poor countries to reduce their carbon footprint. In typical Bank and Fund tradition, the ceremonies were hosted by the resident military dictator. During the festivities, Alaa Abd Al Fattah, a prominent Egyptian human rights activist, languished nearby on hunger strike in prison. British Prime Minister Rishi Sunak arrives at COP 27 on a private jet "Just like back in the day when we were colonized and the colonizers set the rules to how our societies would work," Wade said, "this green agenda is a new form of governing us. This is master now dictating to us what our relationship with energy should be, telling us what kind of energy we should use, and when we can use it. The oil is in our soil, it is part of our sovereignty: but now they are saying we cannot use it? Even after they looted incalculable amounts for themselves?" Wade points out that as soon as the core countries have an economic crisis (as they now face heading into the winter of 2022), they go right back to using fossil fuels. She observes that poor countries aren't allowed to develop nuclear energy, and notes that when Third World leaders tried to push in this direction in the past, some of them — notably in Pakistan and Brazil — were assassinated. Wade says her life's work is prosperity building in Africa. She was born in Senegal, and moved to Germany at age seven. She still remembers her first day in Europe. She was used to a shower being a 30-minute affair: get the coal stove going, boil the water, put some cold water in it to cool it down, and drag the water to the shower area. But in Germany, all she had to do was turn a handle. "I was shocked," she says. "This question defined the rest of my life: How come they have this here but we don't over there?" Wade learned over time that reasons for Western success included the rule of law, clear and transferable property rights, and stable currencies. But, also, critically, reliable energy access. "We can't have limitations on our energy use imposed on us by others," Wade said. And yet, the Bank and Fund continue to put pressure on energy policy in poor countries. Last month, Haiti followed pressure from the Bank and Fund to end its fuel subsidies. "The result," wrote energy reporter Michael Schellenberger, "has been riots, looting, and chaos." "In 2018," Schellenberger says, "the Haitian government agreed to IMF demands that it cut fuel subsidies as a prerequisite for receiving $96 million from the World Bank, European Union, and Inter-American Development bank, triggering protests that resulted in the resignation of the prime minister." "In over 40 nations since 2005," he says, "riots have been triggered after cutting fuel subsidies or otherwise raising energy prices." It is the height of hypocrisy for the West to achieve success based on robust energy consumption and on energy subsidies, and then try to limit the type and amount of energy used by poor countries and then raise the price that their citizens pay. This amounts to a Malthusian scheme in line with former Bank chief Robert McNamara's well-documented belief that population growth was a threat to humanity. The solution, of course, was always to try and reduce the population of poor countries, not rich ones. "They treat us like little experiments," Wade says, "where the West says: we might lose some people along the way, but let's see if poor countries can develop without the energy types we used." "Well," she says," "we are not an experiment." XV. The Human Toll Of Structural Adjustment "To the World Bank, development means growth… But … unrestrained growth is the ideology of the cancer cell."  –Mohammed Yunus The social impact of structural adjustment is immense, and barely ever gets mentioned in traditional analysis of the Bank and Fund's policy. There have been plenty of exhaustive studies done on their economic impact, but very little comparatively on their global health impact. Researchers like Ayittey, Hancock and Payer give a few jarring examples from the 1970s and 1980s: Between 1977 and 1985, Peru undertook IMF structural adjustment: the average per capita income of Peruvians fell 20%, and inflation soared from 30% to 160%. By 1985, a worker's pay was only worth 64% of what it had been worth in 1979 and 44% of what it had been in 1973. Child malnutrition rose from 42% to 68% of the population. In 1984 and 1985 the Philippines under Marcos implemented yet another round of IMF structural reform: after one year, GNP per capita regressed to 1975 levels. Real earnings fell by 46% among urban wage earners. In Sri Lanka, the poorest 30% suffered an uninterrupted decline in calorie consumption after more than a decade of structural adjustment. In Brazil, the number of citizens suffering from malnutrition jumped from 27 million (one third of the population) in 1961 to 86 million (two thirds of the population) in 1985 after 10 doses of structural adjustment. Between 1975 and 1984 in IMF-guided Bolivia, the number of hours the average citizen had to work to purchase 1,000 calories of bread, beans, corn, wheat, sugar, potatoes, milk or quinoa increased on average by five times. After structural adjustment in Jamaica in 1984, the nutritional purchasing power of one Jamaican dollar plummeted in 14 months from being able to buy 2,232 calories of flour to just 1,443; from 1,649 calories of rice to 905; from 1,037 calories of condensed milk to 508; and from 220 calories of chicken to 174. As a result of structural adjustment, Mexican real wages declined in the 1980s by more than 75%. In 1986, about 70% of lower-income Mexicans had "virtually stopped eating rice, eggs, fruit, vegetables, and milk (never mind meat or fish)" at a time when their government was paying $27 million per day — $18,750 per minute — in interest to its creditors. By the 1990s, "a family of four on the minimum wage (which made up 60% of the employed labor force) could only buy 25% of its basic needs. In sub-Saharan Africa, GNP per capita "dropped steadily from $624 in 1980 to $513 in 1998… food production per capita in Africa was 105 in 1980 but 92 for 1997… and food imports rose an astonishing 65% between 1988 and 1997." These examples, though tragic, only give a small and patchwork picture of the deleterious impact that Bank and Fund policies have had on the health of the world's poor. On average, every year from 1980 to 1985, there were 47 countries in the Third World pursuing IMF-sponsored structural adjustment programs, and 21 developing countries pursuing structural or sector adjustment loans from the World Bank. During this same period, 75% of all countries in Latin America and Africa experienced declines in per capita income and child welfare. The decline in living standards make sense when one considers that Bank and Fund policies sculpted societies to focus on exports at the expense of consumption while gutting food security and healthcare services. During IMF structural adjustment, real wages in countries like Kenya declined by more than 40%. After billions in Bank and Fund credit, per capita food production in Africa fell by nearly 20% between 1960 and 1994. Meanwhile, health expenditures in "IMF-World Bank programmed countries" declined by 50% during the 1980s. When food security and healthcare collapse, people die. Papers from 2011 and 2013 showed that countries that took a structural adjustment loan had higher levels of child mortality than those that did not. A 2017 analysis was "virtually unanimous in finding a detrimental association between structural adjustment and child and maternal health outcomes." A 2020 study reviewed data from 137 developing countries between 1980 and 2014 and found that "structural adjustment reforms lower health system access and increase neonatal mortality." A paper from 2021 concluded that structural adjustment plays "a significant role in perpetuating preventable disability and death." It is impossible to do a full accounting of just how many women, men and children were killed as a result of Bank and Fund austerity policies. Food security advocate Davidson Budhoo claimed that six million children died each year in Africa, Asia and Latin America between 1982 and 1994 as a result of structural adjustment. This would put the Bank and Fund's death toll in the same ballpark as the deaths caused by Stalin and Mao. Is this remotely possible? No one will ever know. But by looking at the data, we can begin to get a sense. Research from Mexico — a typical country in terms of consistent involvement historically from the Bank and Fund — shows that for every 2% decrease in GDP, the mortality rate increased by 1%. Now consider that as a result of structural adjustment, the GDP of dozens of countries in the Third World between the 1960s and 1990s suffered double-digit contractions. Despite massive population growth, many of these economies stagnated or shrank over 15-25 year periods. Meaning: the Bank and the Fund's policies likely killed tens of millions of people. Whatever the final death toll, there are two certainties: one, these are crimes against humanity, and two, no Bank or Fund officials will ever go to prison. There will never be any accountability or justice. The inescapable reality is that millions died too young in order to extend and improve the lives of millions elsewhere. It is of course true that much of the success of the West is because of enlightenment values like rule of law, free speech, liberal democracy and domestic respect for human rights. But the unspoken truth is that much of the West's success is also the result of resource and time theft from poor countries. The stolen wealth and labor of the Third World will go unpunished but remains visible today, forever encrusted in the developed world's architecture, culture, science, technology and quality of life. The next time one visits London, New York, Tokyo, Paris, Amsterdam or Berlin, this author suggests going for a walk and pausing at a particularly impressive or scenic view of the city to reflect on this. As the old saying goes, "We must pass through the darkness to reach the light." XVI. A Trillion Dollars: The Bank And Fund In The Post-COVID World "We are all in this together."  –Christine Lagarde, former IMF managing director Bank and Fund policy towards developing countries has not changed much over the past few decades. Sure, there have been a few superficial tweaks, like the "Highly-Indebted Poor Countries" (HIPC) initiative, where some governments can qualify for debt relief. But underneath the new language, even these poorest of the poor countries still need to do structural adjustment. It's just been rebranded to "Poverty Reduction Strategy." The same rules still apply: in Guyana, for example, "the government decided in early 2000 to increase the salaries of civil servants by 3.5%, after a fall in purchasing power of 30% over the previous five years." The IMF immediately threatened to remove Guyana from the new list of HIPCs. "After a few months, the government had to backpedal." The same large-scale devastation still occurs. In a 2015 International Consortium Of Investigative Journalists (ICIJ) report, for instance, it was estimated that 3.4 million people were displaced in the previous decade by Bank-funded projects. The old accounting games, meant to exaggerate the good done by assistance, are joined by new ones. The U.S. government applies a 92% discount to the debt of Highly-Indebted Poor Countries, and yet U.S. authorities include the nominal value of the debt relief in their "ODA" (official development assistance) numbers. Meaning: they significantly exaggerate the volume of their aid. The Financial Times has argued that it is "the aid that isn't" and has argued that "writing off official commercial debt should not count as aid." While it's true that there have actually been large transformations at the Bank and Fund in recent years, those changes have not been in the way that the institutions try to shape the economies of borrowing countries, but rather in that they have focused their efforts on nations closer to the world's economic core. "By practically any metric," a NBER study observes, "the post-2008 IMF programs to several European economies are the largest in the IMF's 70-year history." The largest IMF bailouts in history "IMF commitments as a share of world GDP," the study explains, "hit an all-time high as the European Debt Crisis began to unravel." Iceland began an IMF program in 2008, followed by Greece, Ireland and Portugal. The IMF-led bailout of Greece was a staggering $375 billion. In July 2015, "popular discontent led to a 'no' vote in a referendum on whether to accept the IMF's loan conditions, which included raising taxes, lowering pensions and other spending, and privatizing industries." In the end, however, the Greek people's voice wasn't heard since "the government subsequently ignored the results and accepted the loans." The Fund used the same playbook in Greece and other lower-income European countries as it has used all over the developing world for decades: breaking democratic norms to provide billions to the elites, with austerity for the masses. In the past two years, the Bank and Fund have pumped hundreds of billions of dollars into countries following government lockdowns and COVID-19 pandemic restrictions. More loans were given out in a shorter time than ever before. Even in late 2022 as interest rates continue to rise, the debt of poor countries keeps rising, and the amount they owe to rich countries keeps growing. History rhymes, and IMF visits to dozens of countries remind us of the early 1980s, when a massive debt bubble was popped by Federal Reserve policies. What followed was the worst depression in the Third World since the 1930s. We can hope that this does not happen again, but given the Bank and the Fund's efforts to load up poor countries with more debt than ever before, and given that the cost of borrowing is going up in a historic way, we can predict that it will happen again. And even where the Bank and Fund's influence shrinks, the Chinese Communist Party (CCP) is beginning to step in. In the past decade, China has tried to emulate the dynamics of the IMF and World Bank through its own development institutions and through its "Belt and Road" initiative. As the Indian geostrategist Brahma Chellaney writes, "Through its $1 trillion 'one belt, one road' initiative, China is supporting infrastructure projects in strategically located developing countries, often by extending huge loans to their governments. As a result, countries are becoming ensnared in a debt trap that leaves them vulnerable to China's influence… the projects that China is supporting are often intended not to support the local economy, but to facilitate Chinese access to natural resources, or to open the market for its low-cost and shoddy export goods. In many cases, China even sends its own construction workers, minimizing the number of local jobs that are created." The last thing the world needs is another Bank and Fund drain dynamic, only pulling resources from poor countries to go to the genocidal dictatorship in Beijing. So it is good to see the CCP having trouble in this area. It is trying to grow its Asian Infrastructure Investment Bank by more than $10 billion per year, but it is encountering a variety of issues with projects that it financed across the developing world. Some governments, like in Sri Lanka, simply cannot pay back. Since the CCP cannot mint the world reserve currency, it actually has to eat the loss. Because of this, it won't likely be able to come anywhere close to approximating the lending volume of the U.S.-Europe-Japan-led system. Which is certainly a good thing: CCP loans may not come with onerous structural adjustment conditions, but they certainly don't have any considerations for human rights. In fact, the CCP helped shield one belt and road client — Sri Lankan president Mahinda Rajapaksa — from war crimes allegations at the UN. Looking at its projects in Southeast Asia (where it is depleting Burmese minerals and timber and eroding Pakistani sovereignty) and sub-Saharan Africa (where it is extracting an enormous amount of rare earths), it largely amounts to the same kind of resource theft and geopolitical control tactics practiced by colonial powers for centuries, just dressed up in a new kind of clothing. It's not clear that the Bank and Fund even view the CCP as a bad actor. After all, Wall Street and Silicon Valley tend to be quite friendly with the world's worst dictators. China remains a creditor at the Bank and Fund: its membership has never been in question, despite the genocide of the Uyghur people. As long as the CCP does not get in the way of the big picture goals, the Bank and Fund probably don't mind. There's enough loot to go around. XVII. From Arusha To Accra "Those who wield power control money." –Arusha Delegates, 1979 In 1979, developing nations gathered in the Tanzanian city of Arusha to devise an alternative plan to the IMF- and World Bank-led structural adjustment that had left them with mountains of debt and very little say as to the future of the world economy. "Those who wield power control money," the delegates wrote: "Those who manage and control money wield power. An international monetary system is both a function and an instrument of prevailing power structures." As Stefan Eich writes in "The Currency Of Politics," "the Arusha Initiative's emphasis on the international monetary system's burden of hierarchical imbalances was a powerful attempt to insist on money's political nature by countering claims to neutral technical expertise asserted by the Fund's money doctors." "The IMF may have claimed a neutral, objective, scientific stance," Eich writes, "but all scholarly evidence, including the Fund's internal documentation, pointed the other way. The Fund was, in fact, deeply ideological in the way it framed underdevelopment as a lack of private markets but systematically applied double standards in ignoring similar market controls in 'developed' countries." This resonates with what Cheryl Payer observed, that Bank and Fund economists "erected a mystique around their subject which intimidated even other economists." "They represent themselves," she said, "as highly trained technicians who determine the 'correct' exchange rate and 'proper' amount of money creation on the basis of complex formulas. They deny the political significance of their work." Like most of the leftist discourse on the Bank and Fund, the criticisms made at Arusha were mostly on target: the institutions were exploitative, and enriched their creditors at the expense of poor countries. But Arusha's solutions missed the mark: central planning, social engineering and nationalization. The Arusha delegates advocated for the Bank and Fund to be abolished, and for odious debts to be canceled: perhaps noble but entirely unrealistic goals. Beyond that, their best plan of action was "shift power into the hands of local governments" — a poor solution given that the vast majority of Third World countries were dictatorships. For decades, the public in developing countries suffered as their leaders wavered between selling out their country to multinational corporations and socialist authoritarianism. Both options were destructive. This is the trap that Ghana has found itself in since independence from the British Empire. More often than not, the Ghanaian authorities, regardless of ideology, chose the option of borrowing from abroad. Ghana has a stereotypical history with the Bank and Fund: military leaders seizing power by coup only to impose IMF structural adjustment; real wages dropping between 1971 and 1982 by 82%, with public health spending shrinking 90% and meat prices up 400% during the same time; borrowing to build enormous white elephant projects like the Akosombo Dam, which powered a U.S.-owned aluminum plant at the expense of more than 150,000 people who contracted river blindness and paralysis from the creation of the world's largest manmade lake; and a depletion of 75% of the country's rainforests as timber, cocoa and minerals industries boomed while domestic food production cratered. $2.2 billion of assistance flowed into Ghana in 2022, but the debt stands at an all-time high of $31 billion, up from $750 million 50 years ago. Since 1982, under IMF "guidance," the Ghanaian cedi was devalued by 38,000%. One of the biggest outcomes of structural adjustment has been, like elsewhere around the world, expedition of the extraction of Ghana's natural resources. Between 1990 and 2002, for example, the government only received $87.3 million from the $5.2 billion worth of gold mined out of Ghanaian soil: in other words, 98.4% of the profits from gold mining in Ghana went to foreigners. As Ghanaian protestor Lyle Pratt says, "The IMF is not here to bring down prices, they are not here to ensure that we construct roads — it is not their business and they simply don't care… The IMF's primary concern is to make sure that we build the capacity to pay our loans, not to develop." 2022 feels like a rerun. The Ghanaian cedi has been one of the world's worst-performing currencies this year, losing 48.5% of its value since January. The country is facing a debt crisis, and, like in decades past, is forced to prioritize paying back its creditors over investing in its own people. In October, just a few weeks ago, the country received its latest IMF visit. If a loan is finalized, it would be the 17th IMF loan for Ghana since the CIA-backed military coup of 1966. That is 17 layers of structural adjustment. A visit from the IMF is a bit like a visit from the Grim Reaper — it can only mean one thing: more austerity, pain, and — without exaggeration — death. Perhaps the wealthy and well-connected can escape unscathed or even enriched, but for the poor and working classes, the currency devaluation, rising interest rates and disappearance of bank credit is devastating. This is not the Ghana of 1973 that Cheryl Payer first wrote about in "The Debt Trap": it is 50 years later, and the trap is 40 times deeper. But perhaps there is a glimmer of hope. On December 5 to 7, 2022 in the Ghanaian capital of Accra, there will be a different kind of visit. Instead of creditors looking to charge interest on the people of Ghana and dictate their industries, the speakers and organizers of the Africa Bitcoin Conference are gathering to share information, open-source tools and decentralizing tactics on how to build economic activity beyond the control of corrupt governments and foreign multinational corporations. Farida Nabourema is the lead organizer. She is pro-democracy; pro-poor; anti-Bank and Fund; anti-authoritarian; and pro-Bitcoin. "The real issue," Cheryl Payer once wrote, "is who controls the capital and technology that is exported to the poorer countries." One can argue that Bitcoin as capital and as technology is being exported to Ghana and Togo: it certainly didn't arise there. But it's not clear where it arose. No one knows who created it. And no government or corporation can control it. Bitcoin and cryptocurrency ownership per capita: countries with a history of IMF structural adjustments tend to rank very high During the gold standard, the violence of colonialism corrupted a neutral monetary standard. In the post-colonial world, a fiat monetary standard — upheld by the Bank and Fund — corrupted a post-colonial power structure. For the Third World, perhaps a post-colonial, post-fiat world will be the right mix. Proponents of dependency theory like Samir Amin gathered at conferences like Arusha and called for a "delinking" of poor countries from rich ones. The idea was: the wealth of rich countries was not just attributable to their liberal democracies, property rights and entrepreneurial environments, but also to their resource and labor theft from poor countries. Sever that drain, and poor countries could get a leg up. Amin predicted that "the construction of a system beyond capitalism will have to begin in the peripheral areas." If we agree with Allen Farrington that today's fiat system is not capitalism, and that the current dollar system is deeply flawed, then perhaps Amin was right. A new system is more likely to emerge in Accra, not Washington or London. As Saifedean Ammous writes, "The developing world consists of countries that had not yet adopted modern industrial technologies by the time an inflationary global monetary system began replacing a relatively sound one in 1914. This dysfunctional global monetary system continuously compromised these countries' development by enabling local and foreign governments to expropriate the wealth produced by their people." In other words: rich countries got industrialized before they got fiat: poor countries got fiat before they got industrialized. The only way to break the cycle of dependency, according to Nabourema and other organizers of the Africa Bitcoin Conference, might be to transcend fiat. XVIII. A Glimmer of Hope "The root problem with conventional currency is all the trust that's required to make it work. The central bank must be trusted not to debase the currency, but the history of fiat currencies is full of breaches of that trust."  –Satoshi Nakamoto Whatever the answer is to poverty in the Third World, we know it is not more debt. "The poor of the world," Cheryl Payer concludes, "don't need another 'bank,' however benign. They need decently paid work, responsive government, civil rights, and national autonomy." For seven decades, the World Bank and IMF have been enemies of all four. Looking forward, says Payer, "the most important task for those in the wealthy countries who are concerned with international solidarity is to actively fight to end the flow of foreign aid." The problem is that the current system is designed and incentivized to keep this flow going. The only way to make a change is through a total paradigm shift. We already know that Bitcoin can help individuals inside developing countries gain personal financial freedom and escape the broken systems imposed on them by their corrupt rulers and international financial institutions. This is what will be accelerated in Accra next month, contra the designs of the Bank and Fund. But can Bitcoin actually change the core-periphery dynamics of the world's power and resource structure? Nabourema is hopeful, and doesn't understand why leftists in general condemn or ignore Bitcoin. "A tool that is capable of allowing people to build and access wealth independent from institutions of control can be seen as a leftist project," she says. "As an activist that believes that citizens should be paid in currencies that actually value their life and sacrifices, Bitcoin is a people's revolution." "I find it painful," she says, "that a farmer in sub-Saharan Africa only earns 1% of the price of coffee on the global market. If we can get to a stage where farmers can sell their coffee without so many middle institutions more directly to the buyers, and get paid in bitcoin, you could imagine how much of a difference that would make in their lives." "Today," she says, "our countries in the Global South still borrow money in U.S. dollars, but over time our currencies depreciate and lose value and we end up having to make twice or three times the payment we initially promised in order to reimburse our creditors." "Now imagine," she says, "if we get to a stage in 10 or 20 years where bitcoin is the global money that is accepted for business worldwide, where every nation has to borrow in bitcoin and spend bitcoin and every nation has to pay their debts in bitcoin. In that world, then foreign governments cannot demand that we repay them in currencies that we need to earn but they can simply print; and just because they decide to increase their interest rates, it won't automatically jeopardize the lives of millions or billions of people in our countries." "Of course," Nabourema says, "Bitcoin is going to come with issues like any innovation. But the beauty is that those issues can be improved with peaceful, global collaboration. No one knew 20 years ago what amazing things the internet allows us to do today. No one can tell what amazing things Bitcoin will allow us to do in 20 years." "The way forward," she says, "is an awakening of the masses: for them to understand the ins and outs of how the system works and to understand that there are alternatives. We have to be in a position where people can reclaim their liberty, where their lives aren't controlled by authorities that can confiscate their freedom at any time without consequences. Gradually we are getting closer to this goal with Bitcoin." "Since money is the center of everything in our world," Nabourema says, "the fact that we are now able to obtain financial independence is so important for people in our countries, as we seek to reclaim our rights in every field and sector." In an interview for this article, deflation advocate Jeff Booth explains that as the world approaches a bitcoin standard, the Bank and the Fund will be less likely to be creditors, and more likely to be co-investors, partners, or simply grantors. As prices fall over time, this means debt gets more expensive and more difficult to repay. And with the U.S. money printer turned off, there would be no more bailouts. At first, he suggests, the Bank and Fund will try to continue to lend, but for the first time they'll actually lose big chunks of money as countries freely default as they move onto a bitcoin standard. So they may consider co-investing instead, where they might become more interested in the real success and sustainability of the projects they support as the risk is more equally shared. Bitcoin mining is an additional area of potential change. If poor countries can exchange their natural resources for money without dealing with foreign powers, then maybe their sovereignty can strengthen, instead of erode. Through mining, the vast amounts of river power, hydrocarbons, sun, wind, ground warmth, and offshore OTEC in emerging markets could be converted directly to the world reserve currency without permission. This has never before been possible. The debt trap seems truly inescapable for most poor countries, continuing to grow every year. Maybe investing in anti-fiat Bitcoin reserves, services and infrastructure is a way out and a path to striking back. Bitcoin, Booth says, can short-circuit the old system that has subsidized wealthy countries at the expense of wages in poor countries. In that old system, the periphery had to be sacrificed to protect the core. In the new system, the periphery and core can work together. Right now, he says, the U.S. dollar system keeps people poor through wage deflation in the periphery. But by equalizing the money and creating a neutral standard for everyone, a different dynamic is created. With one monetary standard, labor rates would be necessarily pulled closer together, instead of kept apart. We don't have words for such a dynamic, Booth says, because it has never existed: he suggests "forced cooperation." Booth describes the U.S. ability to instantly issue any amount of more debt as "theft in base money." Readers may be familiar with the Cantillon effect, where those who are closest to the money printer benefit from fresh cash while those farthest away suffer. Well, it turns out there is a global Cantillon effect, too, where the U.S. benefits from issuing the global reserve currency, and poor countries suffer. "A bitcoin standard," Booth says, "ends this." How much of the world's debt is odious? There are trillions of dollars of loans created at the whim of dictators and unelected supranational financial institutions, with zero consent from the people on the borrowing side of the deal. The moral thing to do would be to cancel this debt, but of course, that will never happen because the loans exist ultimately as assets on the balance sheets of the creditors of the Bank and Fund. They will always prefer to keep the assets and simply create new debt to pay the old. The IMF "put" on sovereign debt creates the biggest bubble of all: bigger than the dot-com bubble, bigger than the subprime mortgage bubble, and bigger even than the stimulus-powered COVID bubble. Unwinding this system will be extremely painful, but it's the right thing to do. If debt is the drug, and the Bank and Fund are the dealers, and the developing country governments are the addicts, then it's unlikely either party will want to stop. But to heal, the addicts need to go to rehab. The fiat system makes this basically impossible. In the Bitcoin system, it may get to the point where the patient has no other choice. As Saifedean Ammous says in an interview for this article, today, if Brazil's rulers want to borrow $30 billion and the U.S. Congress agrees, America can snap its fingers and allocate the funds through the IMF. It's a political decision. But, he says, if we get rid of the money printer, then these decisions become less political and start to resemble the more prudent decision-making of a bank that knows no bailout will come. In the last 60 years of Bank and Fund dominance, countless tyrants and kleptocrats were bailed out — against any financial common sense — so that their nations' natural resources and labor could continue to be exploited by core countries. This was possible because the government at the very heart of the system could print the reserve currency. But in a bitcoin standard, Ammous wonders, who is going to make these high risk, billion-dollar loans in exchange for structural adjustment? "You," he asks, "and whose bitcoins?" This is a guest post by Alex Gladstein. Opinions expressed are entirely their own and do not necessarily reflect those of BTC Inc or Bitcoin Magazine. Unsubscribe to no longer receive posts from Crypto World Headline. Change your email settings at manage subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://bitcoinmagazine.com/culture/imf-world-bank-repress-poor-countries Powered by Jetpack

Rj posted: "ROAD TOWN, British Virgin Islands –  November 30 2022  – Bitfinex (https://www.bitfinex.com/), a state-of-the-art digital token trading platform, announced today that it will be listing Harmony (ONE), the native token of a sharded, EVM compatible layer-1 " Crypto World Headline Bitfinex Launches High-Speed, Low-Cost Scaling Solution Harmony (ONE) Rj Nov 30 ROAD TOWN, British Virgin Islands –  November 30 2022  – Bitfinex (https://www.bitfinex.com/), a state-of-the-art digital token trading platform, announced today that it will be listing Harmony (ONE), the native token of a sharded, EVM compatible layer-1 blockchain that aims to scale Web3 applications while addressing Ethereum's high gas fees and scalability problems. Harmony is an open and fast blockchain that aims to run Ethereum applications with 2-second transaction finality and 100 times lower fees. ONE is utilized for all transactions on the Harmony chain, including mining rewards, gas fees, transaction fees and voting. The platform is designed for the creation and use of decentralized applications (dApps).  As a platform that aims to make it easier for developers to design DApps, Harmony was created to collaborate with and complement the Ethereum network. The protocol offers both scaling and sharding solutions, and its bridges are designed with the aim of connecting any proof-of-work and proof-of-stake chain. The interoperability of the platform is key to its plans for success in helping it to provide what it says will be a true Web3 experience.  ONE deposits and trading will open on 01/12/22, with trading pairs US Dollars (USD) and Tether tokens (USDT) available for trading on 06/12/22. "We are delighted to welcome Harmony to our growing digital token ecosystem," said Paolo Ardoino, CTO at Bitfinex. "Harmony's team are alive to the blockchain's possibilities, and its layer 2 scaling and interoperable solution seeks to address key pain points on the Ethereum network." About Bitfinex Founded in 2012, Bitfinex is a digital token trading platform offering state-of-the-art services for digital currency traders and global liquidity providers. In addition to a suite of advanced trading features and charting tools, Bitfinex provides access to peer-to-peer financing, an OTC market, and financed trading for a wide selection of digital tokens. Bitfinex's strategy focuses on providing unparalleled support, tools, and innovation for professional traders and liquidity providers around the world. Visit www.bitfinex.com to learn more. The post Bitfinex Launches High-Speed, Low-Cost Scaling Solution Harmony (ONE) appeared first on Bitfinex blog. Unsubscribe to no longer receive posts from Crypto World Headline. Change your email settings at manage subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://blog.bitfinex.com/media-releases/bitfinex-launches-high-speed-low-cost-scaling-solution-harmony-one/ Powered by Jetpack

Rj posted: "The Fantom Foundation's attempt to dispel concerns about potential FTX exposure has been a success thus far for FTM price. Go to Source Author: Cointelegraph By Yashu Gola" Crypto World Headline FTM price rebounds 50% as Fantom reveals 30 years runway (without having to sell its token) Rj Nov 30 The Fantom Foundation's attempt to dispel concerns about potential FTX exposure has been a success thus far for FTM price. Go to Source Author: Cointelegraph By Yashu Gola Comment Unsubscribe to no longer receive posts from Crypto World Headline. Change your email settings at manage subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://www.cryptoworldheadline.com/ftm-price-rebounds-50-as-fantom-reveals-30-years-runway-without-having-to-sell-its-token/ Powered by Jetpack

Rj posted: " The Ethereum price is up 4.3% in the last 24 hours, following the general market sentiment of the crypto market. In anticipation of today's speech by US Federal Reserve chairman Jerome Powell at the Brookings Institution, crypto bulls seem to be antic" Crypto World Headline Ethereum Whales Front Run Major Move, On-Chain Data Suggests – Crypto World Headline Rj Nov 30 The Ethereum price is up 4.3% in the last 24 hours, following the general market sentiment of the crypto market. In anticipation of today's speech by US Federal Reserve chairman Jerome Powell at the Brookings Institution, crypto bulls seem to be anticipating possible dovish comments. At press time, Ether (ETH) was trading at $1,265, with trading volume continuing to fall to just $7.8 billion, down about 2.8% from the previous day. With the current move, Ethereum has managed to break through the key resistance at $1,230. As NewsBTC reported, resistance at $1,288 (on Binance) is now up for grabs before the first major resistance is encountered at the $1,300 level. In addition, investors should keep an eye on the $1,330 level as this is the threshold to recoup losses from the FTX crash. Ethereum trading at $1,265; 4-hour-chart. Source: Twitter Ethereum Whales Foreshadowing Bigger Price Moves Meanwhile, data from Santiment is backing the bullish case for Ethereum (ETH). The on-chain analytics firm shared that Ethereum's large key addresses have increased since the FTX debacle in early November. In the chart below, the key moments when "sharks" and "whale" addresses accumulated and dumped ETH can be seen. The number of 100 to 100.000 ETH addresses is at a 20-month high, while the price is still lagging behind. The whale and shark activity could thus be a harbinger of a further upward trend. Source: Twitter But there is also second on-chain indicator which is showing the strength of Ethereum bulls. As Santiment also reports, the number of active addresses rose yesterday to the highest level in over six weeks, "that likely factored into today's price growth". On October 15, the last time the number of addresses was this high, the price of ETH increased by 30% over the next 3 weeks, the company analyzed. Source: Twitter In this regard, the on-chain analytics service "Lookonchain" has noted that one whale has been particularly aggressive in its buying behavior. The ominous whale bought ETH after the FTX/Alameda crash, a total of 17,225 ETH since Nov. 8, the equivalent of about $21.25 million. The average price was $1,234. The whale bought a portion on Kraken, 5,923 ETH, and the other portion, 11,302 ETH, on Uniswap. He is the 101st largest ETH holder with 116,274 ETH, the equivalent of about $147 million. And he is referred to as the "Maker Vault Owner" on EtherScan. Renowned Expert Is Bullish On the other hand, the founder and CEO of 10T Holdings and Gold Bullion, Dan Tapiero, shared a simple but very bullish observation in the Ethereum chart via Twitter – something Bitcoin (BTC) has failed to do: I want to be very clear here. The fact that Ethereum could not make a new low in price in the face of the most negative news (Ftx fraud) of the year is extremely bullish for Eth going forward. Yes, sometimes it is that simple. Source link Comment Unsubscribe to no longer receive posts from Crypto World Headline. Change your email settings at manage subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://www.cryptoworldheadline.com/ethereum-whales-front-run-major-move-on-chain-data-suggests-crypto-world-headline/ Powered by Jetpack

Rj posted: " Co-Founder of DeFi Direct, GoonTrades, spent a week on MoBox's GameFi platform, BlockBrawler, just coming short of MBOX rewards.MoBox's Play-to-Earn & GameFi Platform BlockBrawler‍I am now one full season into the MOBOX Block Brawler game. After a " Crypto World Headline MOBOX Play to Earn Game, BlockBrawler, Proves Difficult but Rewarding – Crypto World Headline Rj Nov 30 Co-Founder of DeFi Direct, GoonTrades, spent a week on MoBox's GameFi platform, BlockBrawler, just coming short of MBOX rewards. MoBox's Play-to-Earn & GameFi Platform BlockBrawler‍ I am now one full season into the MOBOX Block Brawler game. After a week of gameplay in our Traders to Gamers series, I have earned $4.05. With around 10 hours of gameplay and $218.18 invested in rented Non-Fungible Tokens (NFTs), I found myself right on the cusp of the leaderboard. Rank 300 is the cutoff with rewards of just over $33.28. This wasn't nearly enough to recoup my investment, leaving me with a $214 loss. But this is only my first week of a $1000 investment. I enjoyed nearly all of the gameplay and climbing the ladder, despite some of the tedious and redundant aspects. Grinding is part of gaming and it wasn't necessarily a bad experience in Block Brawler. Overall quite enjoyable. NFT Gaming and Profitability‍ Users are likely thinking, 'how can this be a good play-to-earn game but you made no money?'  Well, that's the caveat, I may have made no money. But, let's look at the top players and their payouts. The top 900 users were able to claim over $700,000 in rewards according to the MOBOX rewards displayed in-game on October 25th. On the first battlefield (LVL 69 and under) the top three players won a combined payout of 3778 $MBOX or about $15,800 at the time of writing. Second Battlefield: 4,529 MBOX or $18,900. Third Battlefield: 5,661 MBOX or $23,500.  To me, the math still sounds like it could be worthwhile. I learned a fair bit throughout my first week and definitely have some more knowledge to apply to the game. Where most entry-level players seem stuck is the build. The game boils down to who has the strongest abilities, highest level of gear, and best sets. My gear wasn't cutting it. You can see a rough outline of my build in the graphic below. The final build can be seen in my final stream of the season on October 25th. BSC News Graphic Outling GoonTrades Block Brawler Build Renting MOMO NFTs‍ The initial investment is still a way off from being recouped. But the knowledge and improvement could mean entering the leaderboard soon, which will mean turning a profit soon. Renting NFTs takes its toll on the starting balance so you are pressured to keep grinding on the leaderboard to turn a profit.  I have a longer-term ambition to purchase the relevant NFTs to potentially reduce overall costs -- but those can run around $4,000 for a set of rares. Again this was only the first week. Tune into the entire series for a better glimpse of what MOBOX's Block Brawler game has to offer. Source link Comment Unsubscribe to no longer receive posts from Crypto World Headline. Change your email settings at manage subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://www.cryptoworldheadline.com/mobox-play-to-earn-game-blockbrawler-proves-difficult-but-rewarding-crypto-world-headline/ Powered by Jetpack

Rj posted: " Most popular crypto solutions are permissionless blockchains meant for consumers. They enable payment and smart contract functionality for new experiences. But some others are dedicated to more specific applications for operations in businesses. One s" Crypto World Headline What Is Vechain (VET) | ZebPay – Crypto World Headline Rj Nov 30 Most popular crypto solutions are permissionless blockchains meant for consumers. They enable payment and smart contract functionality for new experiences. But some others are dedicated to more specific applications for operations in businesses. One such project is VeChain. So what is VeChain and what does it do? What is VeChain? The supply chain of many goods is usually highly opaque, making the shipping of products difficult for both firms and consumers. VeChain is a blockchain project offering business solutions through its proprietary software. Through these solutions, it can offer supply chain tracking and authentication capabilities for shipping.  This makes it much easier for firms to ensure there is no tampering with the product as it is shipped from its factories to the final consumer. Users also benefit as they can easily validate the product's source to ensure it is not counterfeit.  This is done through a simple process. First, each product obtains a unique identity and token. At each step of the supply chain, sensors are used to track this identity. There is thus no ambiguity in the shipping process and all stakeholders are benefitted.  How Does VeChain Work? The VeChain ecosystem is made of three main components. These are physical devices, blockchains and crypto tokens.  Physical Devices Products in the real world are assigned unique IDs using QR codes, Near Field Communication or Radio Frequency Identification. These IDs are traced using corresponding sensors at each stage of the shipping process. The recorded data is added to the blockchain and tied to the ID of the product.  The use of blockchain technology ensures this process is entirely transparent and foolproof. It also alleviates the risk of records being faked or changed at a later stage as information on a blockchain cannot be altered or deleted. There is thus a great deal of data security which ensures the blockchain is accurate.  Blockchain Platform  The VeChain blockchain platform is not just used for supply chain tracking. It can be used by other developers and projects to create their own tokens using VeChain's blockchain. It is also used for the development of decentralised applications.  Consensus on the VeChain blockchain does not use Proof of Work like the more popular Bitcoin. Instead, it uses "Proof of Authority". Under this system, 101 master nodes are responsible for finalising transactions on VeChain. To create a node, you must own at least 1 million tokens and disclose your identity. You cannot run a master node without "Know your Customer" or KYC credentials.  Crypto Tokens VeChain uses two different crypto tokens – VET and VTHO. VET is used as the medium of exchange on the VeChain blockchain. It is also used as money in smart contracts or dApps on the platform.  VTHO stands for VeChainThor Energy. Unlike VET, VTHO is used to power transactions on the platform and is equal to the cost of performing transactions on the blockchain. It serves as a safeguard to ensure businesses must possess enough underlying tokens to transact. If you exceed your "budget" of actions, you must acquire more VTHO before you can add more data or transactions.  What Makes VeChain Unique? VeChain is much more specialised than other crypto projects. Popular cryptos like Bitcoin and Ethereum are used for transactions and smart contracts respectively. But VeChain's primary focus is on creating transparency in the supply chain through the use of unique IDs and sensors.  Another novel feature is the two-token system. VET is available to the public and can be used for transfers on the blockchain. On the other hand, VTHO is meant only as an underlying token to enable transactions. They are separated so VTHO can maintain a steady price.  Who Uses VeChain? VeChain's primary users are businesses looking to streamline their supply chains. It has many corporate partners such as Walmart, Louis Vuitton and BMW. Each of them uses VeChain's services to better track data generated in their business processes.  Brands dealing in luxury goods also use the platform as an anti-counterfeit measure.  VeChain Future Business Applications The opportunities for VeChain are endless in the business world. Given its solid track record and high desirability, many other firms are expected to use its services shortly. Additionally, it is sure to attract new customers through its partnership with PWC, a consulting firm.  Smart Contract It is unclear if the demand for VeChain's smart contract platform will surge ahead. There is already stiff competition in the L1 blockchain space. Many projects are competing to unseat Ethereum as the market leader in dApps and decentralised finance. Therefore, VeChain should focus on its niche rather than spread itself too thin.  You can now buy Vechain token on ZebPay. Level up your trading experience using ZebPay's brand new update. FAQ Can I Make Passive Income With VeChain? While it is possible to stake VET tokens and earn VTHO, the returns are extremely low. This results in a low-yield investment for most retail users. However, turning your stake into an "economic node" may be a more profitable option if you can afford to do so. Is VeChain A Good Investment? VeChain's dominance in its niche and partnerships with large brands ensure it is here to stay. This makes it an attractive option for many investors looking for high returns. Who Created VeChain? The former CIO of Louis Vuitton, Sunny Liu, founded VeChain. It started as a token on the Ethereum blockchain in 2015. However, it soon had an ICO in 2017 and used these funds to set up the VeChainThor network. Source link Comment Unsubscribe to no longer receive posts from Crypto World Headline. Change your email settings at manage subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://www.cryptoworldheadline.com/what-is-vechain-vet-zebpay-crypto-world-headline/ Powered by Jetpack

Rj posted: "Despite writing down its $275 million investment in FTX, Temasek still apparently holds its investments in many other crypto-related businesses. Go to Source Author: Cointelegraph By Helen Partz" Crypto World Headline Singapore's Temasek sees 'reputational damage' due to FTX, official says Rj Nov 30 Despite writing down its $275 million investment in FTX, Temasek still apparently holds its investments in many other crypto-related businesses. Go to Source Author: Cointelegraph By Helen Partz Comment Unsubscribe to no longer receive posts from Crypto World Headline. Change your email settings at manage subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://www.cryptoworldheadline.com/singapores-temasek-sees-reputational-damage-due-to-ftx-official-says/ Powered by Jetpack

Rj posted: "Forecasts predict cryptocurrency criminals laundering more than $10 billion through cross-chain bridges by 2025, leading to calls for holistic screening solutions. Go to Source Author: Cointelegraph By Gareth Jenkinson" Crypto World Headline Illicit cross-chain transfers expected to grow to $10B: Here's how to prevent them Rj Nov 30 Forecasts predict cryptocurrency criminals laundering more than $10 billion through cross-chain bridges by 2025, leading to calls for holistic screening solutions. Go to Source Author: Cointelegraph By Gareth Jenkinson Comment Unsubscribe to no longer receive posts from Crypto World Headline. Change your email settings at manage subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://www.cryptoworldheadline.com/illicit-cross-chain-transfers-expected-to-grow-to-10b-heres-how-to-prevent-them/ Powered by Jetpack

Rj posted: "After the European Central Bank released a blog post on the shortcomings of Bitcoin, the crypto community on Twitter took to the comments to defend the cryptocurrency. Go to Source Author: Cointelegraph By Savannah Fortis" Crypto World Headline European Central Bank blasts Bitcoin —community responds Rj Nov 30 After the European Central Bank released a blog post on the shortcomings of Bitcoin, the crypto community on Twitter took to the comments to defend the cryptocurrency. Go to Source Author: Cointelegraph By Savannah Fortis Comment Unsubscribe to no longer receive posts from Crypto World Headline. Change your email settings at manage subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://www.cryptoworldheadline.com/european-central-bank-blasts-bitcoin-community-responds/ Powered by Jetpack

Rj posted: "SBF, Kwon, 3AC, and more: 2022 was a packed year for crypto villains. The Crypto Villains of the Year The Crypto Briefing editorial team puts a lot of thought into... Go to Source Author: Chris Williams" Crypto World Headline 2022 in Review: the Top 10 Crypto Villains of the Year Rj Nov 30 SBF, Kwon, 3AC, and more: 2022 was a packed year for crypto villains. The Crypto Villains of the Year The Crypto Briefing editorial team puts a lot of thought into... Go to Source Author: Chris Williams Comment Unsubscribe to no longer receive posts from Crypto World Headline. Change your email settings at manage subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://www.cryptoworldheadline.com/2022-in-review-the-top-10-crypto-villains-of-the-year/ Powered by Jetpack

Rj posted: "RNS.ID's on-chain KYC solution is designed on a "privacy engine" to encrypt users' data. Go to Source Author: Cointelegraph By Judith BannermanQuist" Crypto World Headline Digital identity platform integrates with zkSync for on-chain KYC Rj Nov 30 RNS.ID's on-chain KYC solution is designed on a "privacy engine" to encrypt users' data. Go to Source Author: Cointelegraph By Judith BannermanQuist Comment Unsubscribe to no longer receive posts from Crypto World Headline. Change your email settings at manage subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://www.cryptoworldheadline.com/digital-identity-platform-integrates-with-zksync-for-on-chain-kyc/ Powered by Jetpack

Rj posted: " While bitcoin might appear stable for now, it's on the brink of irrelevance — at least according to a report from two advisers to the European Central Bank (ECB). Bitcoin is rarely used in transactions and poses a reputational risk for banks, acco" Crypto World Headline Bitcoin is on its 'last gasp before the road to irrelevance,' ECB advisers argue – Crypto World Headline Rj Nov 30 While bitcoin might appear stable for now, it's on the brink of irrelevance — at least according to a report from two advisers to the European Central Bank (ECB). Bitcoin is rarely used in transactions and poses a reputational risk for banks, according to an ECB blog post, which argues that regulation could be misunderstood as approval. Bitcoin's price peaked at $69,000 in November 2021 before falling to $17,000 this summer, note Ulrich Bindseil and Jürgen Schaaf, the report's authors. And since the collapse of the Terra ecosystem in May, and this month's bankruptcy of the FTX exchange, it's mainly fluctuated between $17,000 and $20,000. While some see this stability in the face of multiple crises as an optimistic sign, Bindseil and Schaaf see it as "an artificially induced last gasp before the road to irrelevance — and this was already foreseeable before FTX went bust." BTCUSD chart by TradingView While the blog post is described as a "opinion piece" that doesn't necessarily represent the views of the ECB, both authors have roles with the central bank. Bindseil is the ECB's director general of market infrastructure and payments and Schaaf is an adviser.  Utility and risk The report points out that bitcoin is hardly ever used for transactions and purchases — at least not legal ones. Despite being created to overcome the existing monetary and financial system, bitcoin has many shortcomings, Bindseil and Schaaf argue, adding that the conceptual design and technological failings make bitcoin questionable as a means of payment. "Bitcoin transactions are cumbersome, slow and expensive. Bitcoin has never been used significantly for legal real-world transactions," they write, arguing that bitcoin's market value is based purely on speculation.  As such, the post states, bitcoin is neither suitable as a payment system nor as a form of investment. Therefore, it shouldn't be treated as either in regulatory terms and shouldn't be legitimized. Banks and the financial industry should be wary of the long-term damage of promoting bitcoin investments, according to the report. Bindseil and Schaaf argue that short-term profits don't offset the negative impact on customer relations. The authors go as far as to say the reputational damage to the entire industry could be enormous if bitcoin investors make further losses. Regulation is not approval In addition, the authors posit that regulatory oversight is often misunderstood as approval.  They point to bitcoin proponents funding lobbyists to push the case for acceptance with lawmakers and regulators, biting that the number of crypto lobbyists in the U.S. alone tripled from 115 in 2018 to 320 in 2021. The report didn't share numbers from 2022. While lawmakers have sometimes facilitated the influx of funds by supporting the proposed merits of bitcoin, some even offered regulations that gave the impression that crypto is just another asset class. However, this is not the case. According to the ECB authors, the risks of crypto assets are undisputed among regulators.  "In July, the Financial Stability Board (FSB) called for crypto assets and markets to be subject to effective regulation and supervision commensurate with the risks they pose — along the doctrine of 'same risk, same regulation.'" Despite this, regulation has been slow to ratify, with implementation often lagging. Different jurisdictions aren't proceeding at the same pace, Bindseil and Schaaf point out.  The EU has agreed on a "comprehensive regulatory package" in the Markets in Crypto Assets Regulation (MiCA) proposal. However, the U.S. has not yet been able to agree on "coherent rules." Misconceptions also shape current regulations, especially "the belief that the space must be given to innovation at all costs stubbornly persists" even as blockchain technology has so far created little value for society. "Since bitcoin appears to be neither suitable as a payment system nor as a form of investment, it should be treated as neither in regulatory terms and thus should not be legitimised," they conclude.  © 2022 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice. Source link Comment Unsubscribe to no longer receive posts from Crypto World Headline. Change your email settings at manage subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://www.cryptoworldheadline.com/bitcoin-is-on-its-last-gasp-before-the-road-to-irrelevance-ecb-advisers-argue-crypto-world-headline/ Powered by Jetpack

Rj posted: " 30 November 2022 | ZebPay Trade-Desk Stablecoins give investors experiences of both the traditional world and the crypto world by providing stability through fiat money backing and the ability to quickly transfer funds across blockchain networks. Teth" Crypto World Headline USDT Vs BUSD Vs USDC: Comparison – Crypto World Headline Rj Nov 30 30 November 2022 | ZebPay Trade-Desk Stablecoins give investors experiences of both the traditional world and the crypto world by providing stability through fiat money backing and the ability to quickly transfer funds across blockchain networks. Tether ( USDT), USD Coin (USDC) and Binance USD (BUSD) are some of the most well-known stablecoins in the crypto space. All three stablecoins are backed 1:1 by their respective reserve currencies, giving them stability in value. However, there are some key differences between them. This report explores the similarities and differences between USDT, USDC, and BUSD. USDT USDT is one of the most popular stablecoins with a market cap of over $69 billion. The stablecoin is issued by Hong Kong-based company iFinex, which also owns the crypto exchange BitFinex. It is pegged 1:1 to the US dollar, and any US Dollar backing the USDT token is held in reserve. As such, USDT can be spent, transferred, or exchanged like any other fiat currency. Tether was one of the first crypto assets to be able to address blockchain-related challenges such as facilitating national currency transfers and providing customers with a method to verify the token's value. While USDT has faced controversy over its reserve management and degree of decentralization, it remains one of the most widely used stablecoins in the global market and is managed by accepted on numerous exchanges and compatible with various wallets. The company behind Tether has also been more transparent, disclosing its cash reserves through monthly transparency reports to address concerns about its stability. BUSD Binance and Paxos developed BUSD to give crypto users access to fast and flexible transactions. BUSD is also backed by fiat money and has the same value as a US dollar and can be redeemed 1:1 for cash. BUSD is currently on Ethereum in addition to the BNB chain. As such, BUSD holders can exchange stablecoins between blockchains, allowing for greater flexibility and potential savings in transfer costs. BUSD also has its network with the support of top exchanges such as Huobi and OKX, extended trust wallets and some financial institutions. Unlike some stablecoins, where issues of trust and transparency can arise, Withum, a top-notch accounting firm, audits BUSD regularly. USDC USDC is also a US dollar-backed stablecoin and was designed to reduce the volatility of bitcoin and other crypto assets through faster money transfers. Developed by Circle Internet Financial, USDC is an Ethereum token that can be stored in a crypto wallet or transferred to the Ethereum blockchain. However, it differs from USDT as it is fully collateralized and transparent, meaning the team are very open about its ecosystem and reserves. USDC tokens are redeemable 1:1 for USD through Circle's regulated partner financial institutions, which are subject to monthly audits and certifications to ensure reserve adequacy. This encourages trust and transparency in the value of the stablecoin, in contrast to the controversial management of USDT. USDC is also a more widely used stablecoin, with over $42 billion in circulation and is backed by major exchanges and wallets like Coinbase and Gemini. It has also received confirmation from major financial institutions such as Goldman Sachs, Visa and Bitmain. USDC has evolved into a multi-chain system and is also available natively on blockchains such as Polygon, Avalanche and others. USDT vs BUSD vs USDC: Key Similarities Although these three popular stablecoins are issued by different companies, they share several similarities. First, all three are fiat-backed and have a 1:1 value against the USD, making them more stable options compared to crypto assets. They are also widely accepted and supported by major exchanges and wallets and can be redeemed for cash at a 1:1 ratio. They are also regularly audited to promote trust and transparency in their value. Additionally, all three stablecoins are available on the Ethereum blockchain, although all have been expanded to multi-chain. USDT vs BUSD vs USDC: Key Distinction  There are also important differences that can affect a user's decision on which stablecoin to use. A key difference is the blockchains on which these stablecoins are available. For example, BUSD remains limited to the Ethereum and BNB chains, while USDC and USDT have become more multi-chain, covering networks like Solana, Algorand, Avalanche, and more. The main benefit of being on multiple blockchains is speed, which allows users to trade assets faster and potentially at lower fees. Read more: Difference Between USDT and USDC In terms of stability, USDT is at a disadvantage as it occasionally dropped below $1.00, leading some sceptics to believe that Tether's dollar reserves may not be fully funded.  USDC and BUSD, on the other hand, did not have similar problems and were pegged to the USD at a constant dollar value. Both stablecoins rarely fluctuate above $1.00, and only move roughly between $0.99 and $1.02 in either direction. Finally, USDT remains a controversial option due to its reserve management. In contrast, USDC and BUSD have been endorsed by major financial institutions and are subject to regular audits to ensure reserve adequacy.  There are also other key differences between the three which you can find in the below table.  USDT USDC BUSD Launch Year                 2014               2018               2019 Stablecoin Issuer Tether Circle Binance & Paxos Blockchain Networks Algorand, Avalanche, EOS, Ethereum, Kusama, Liquid, Polygon, Solana, Tezos Algogrand, Avalanche, Ethereum, Flow,  Hedera, Polygon, Solana, Stellar, Tron  BNB Chain, Ethereum Benefits Cash and cash equivalents, US treasuries, Commercial paper, Corporate bonds, Fiduciary, deposits, crypto assets, reverse repo rate, secured loans Cash and cash equivalents, US treasuries, Commercial paper, Corporate bonds, Municipal bonds, Yankee commercial deposits Cash and cash equivalents, US treasuries  Auditors BDO Italia Grant Thornton LLP Withum Disclaimer : This report is not intended to be relied upon as advice to investors or potential investors and does not take into account the investment objectives, financial situation or needs of any investor. All investors should consider such factors in consultation with a professional advisor of their choosing when deciding if an investment is appropriate. The Company has prepared this report based on information available to it, including information derived from public sources that have not been independently verified. No representation or warranty, express or implied, is provided in relation to the fairness, accuracy, correctness, completeness or reliability of the information, opinions or conclusions expressed herein. This report is preliminary and subject to change; the Company undertakes no obligation to update or revise the reports to reflect events or circumstances that arise after the date made or to reflect the occurrence of unanticipated events. Trading & Investments in cryptos viz. Bitcoin, Bitcoin Cash, Ethereum etc.are very speculative and are subject to market risks. The analysis by Author is for informational purposes only and should not be treated as investment advice. 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Rj posted: "<p class="MsoNormal">Trading Technologies (<a href="https://www.financemagnates.com/tag/trading-technologies/">TT</a>), a provider of professional software for traders, announced on Wednesday that it is extending its market coverage by a" Crypto World Headline Trading Technologies Expands Coverage to Four APAC Exchanges Rj Nov 30 <p class="MsoNormal">Trading Technologies (<a href="https://www.financemagnates.com/tag/trading-technologies/">TT</a>), a provider of professional software for traders, announced on Wednesday that it is extending its market coverage by adding four popular exchanges from the <a href="https://www.financemagnates.com/terms/a/asia-pacific-apac/" target="_blank" id="6a6c466f-8e57-4ee5-81b8-239e9d7b0667_1" class="terms__main-term">Asia-Pacific (APAC</a>) region. </p><p class="MsoNormal">According to the press release, the TT Premium Order Types, the company's new algorithmic execution strategies tool integrated with the TT platform, guarantees access to instruments available on Singapore Exchange (SGX Group). Products from Japan Exchange Group (JPX), Hong Kong Exchanges and Clearing Limited (HKEX) and Australian Securities Exchange (ASX) will be available before the end of the year.</p><p class="MsoNormal">TT is focusing on expanding its low-latency-based services. The addition of four more markets brings the total number to eleven. TT Premium Order Type has so far supported Cboe Futures Exchange, Intercontinental Exchange, CME Group, Eurex, Euronext, the London Metal Exchange (LME) and Montréal Exchange. More markets are expected to follow, depending on investor demand.</p><p class="MsoNormal">TT Premium Order Types is TT's proprietary technology to improve order execution and optimize order management using market intelligence. It is based on quantitative modeling for strategic order type selection.</p><p class="MsoNormal">"We're excited to add these important APAC exchanges to our offering of best-of-breed synthetic order types, driven by quantitative modeling, available directly through the TT platform. Asset managers, hedge funds, trading groups, commodity firms and others can apply these value-added tools to round out their macro portfolios, improve their hedging capabilities, and explore new trading and arbitrage opportunities," Guy Scott the EVP and Chief Revenue Officer at Trading Technologies, said.</p><p>Expanded Risk Management Offering</p><p class="MsoNormal">In the middle of November, TT <a href="https://www.financemagnates.com/institutional-forex/trading-technologies-offers-krm22-risk-manager/">announced</a> that it was expanding its <a href="https://www.financemagnates.com/terms/r/risk-management/" target="_blank" id="aedb745c-adf9-415f-97e2-ee56a920f0f8_2" class="terms__secondary-term">risk management</a> offering with the addition of KRM22's Risk Manager. The system allows users to assess margin and liquidity in real-time, giving them an edge in the derivatives market.</p><p class="MsoNormal">TT has been working with KRM22 since the beginning of the year when it <a href="https://www.financemagnates.com/institutional-forex/technology/trading-technologies-announces-635-million-investment-in-krm22/">invested $6.35 million</a> to continue the company's growth. </p><p class="MsoNormal">In December 2021, TT <a href="https://www.financemagnates.com/institutional-forex/7ridge-completes-acquisition-of-trading-technologies-appoints-new-ceo/">became a part of 7RIDGE</a>, a specialized growth equity company. The move made almost a year ago was aimed at increasing the company's organic growth.</p> This article was written by Damian Chmiel at http://www.financemagnates.com. Unsubscribe to no longer receive posts from Crypto World Headline. Change your email settings at manage subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://www.financemagnates.com/institutional-forex/trading-technologis-expands-coverage-to-four-apac-exchanges/ Powered by Jetpack

Rj posted: "<p>New Travelex Group, the restructured business of <a href="https://www.financemagnates.com/tag/travelex/" target="_blank" rel="follow">Travelex</a>, published its financials for the third quarter of 2022, reporting revenues of £129.6 m" Crypto World Headline Travelex Ends Q3 2022 with 160% YoY Revenue Rise Rj Nov 30 <p>New Travelex Group, the restructured business of <a href="https://www.financemagnates.com/tag/travelex/" target="_blank" rel="follow">Travelex</a>, published its financials for the third quarter of 2022, reporting revenues of £129.6 million. The figure has increased by 160 percent from 2021 but declined by 17 percent from 2019.</p><p>The year-to-date revenue at the end of September came in at £305.1 million, compared to £108.9 million in 2021 and £405.7 million in 2019. </p><p>"The positive increase in revenues were driven by the first peak summer trading period without major travel restrictions in the majority of markets in which Travelex operates," the company stated.</p><p>"Brazil and ME&T both exceeded 2019 levels with recovery fully complete in these markets. UK, Europe, and ANZ continued to improve on the Q2 performance as they benefitted from the significant pent-up demand for travel. China and Hong Kong remained challenged as they continued with restrictions."</p><p>Along with the higher quarterly revenue, the company's costs also increased. Travelex ended the quarter with a total cost of £112.3 million, which was at £56.9 million in 2021 and £134.8 million in 2019.</p><p>The underlying EBITDA of the Group in the quarter came in at £17.2 million, thus making it the second consecutive quarter with a positive figure. In the same quarter of the previous year, the EBITDA was at a negative £7.1 million, while it was at a positive £20.4 million in 2019.</p><p>A Restructured Business</p><p>Travelex restructured its business in August 2020 following the impact on its operations from the implications of the Covid-19 pandemic on the travel industry. The holders of Travelex's secured notes, who participated in <a href="https://www.financemagnates.com/fintech/payments/travelex-initiates-debt-restructuring-with-84-million-funding/" target="_blank" rel="follow">providing £84 million of new money</a> to the group, acquired the restructured Travelex business.</p><p>Earlier this year, Travelex onboarded <a href="https://www.financemagnates.com/executives/moves/travelex-secures-mark-freedman-as-its-new-chief-financial-officer/" target="_blank" rel="follow">Mark Freedman</a>, an industry veteran with over 28 years of experience, as the Chief Financial Officer.</p><p>The United Kingdom-headquartered company is now expecting to close 2022 with an underlying EBITDA of £25 million to £27 million, significantly higher than the previous guidance. For 2023, the group is eying at an EBITDA of between £60 million to £70 million.</p> This article was written by Arnab Shome at http://www.financemagnates.com. Unsubscribe to no longer receive posts from Crypto World Headline. Change your email settings at manage subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://www.financemagnates.com/forex/travelex-ends-q3-2022-with-160-yoy-revenue-rise/ Powered by Jetpack

Rj posted: "What is Proof-of-Stake (PoS)? Proof-of-Stake is a cryptocurrency consensus mechanism for processing transactions and creating new blocks in a blockchain. A consensus mechanism is a method for validating entries into a distributed ledger and keeping thi" Crypto World Headline Staking. Find out all about it. Rj Nov 30 What is Proof-of-Stake (PoS)? Proof-of-Stake is a cryptocurrency consensus mechanism for processing transactions and creating new blocks in a blockchain. A consensus mechanism is a method for validating entries into a distributed ledger and keeping this ledger secure.  How does Staking Work? To create and verify a new block, the coins' owners offer their funds as collateral for the chance to validate blocks. When the coins are staked, their owners become validators.  Validators are then selected randomly to mine or validate the block. The network randomly chooses who gets to mine rather than using a competition-based mechanism like proof-of-work. The network chooses validators based on the size of their stake and the length of time they've held it. So the most invested participants are rewarded. If transactions in a new block are discovered invalid, users can have a certain amount of their stake burned by the network in what is known as a slashing event.  To become a validator, a coin holder must stake a specific amount of coins. For instance, Polygon will require only 1 MATIC to be staked before a user can become a validator, while to become one on Ethereum, users must invest 32 ETH. Blocks are validated by more than one validator, and when a certain number of the validators verify that the block is accurate, it is finalised and closed. The Bitfinex Soft-staking program allows users to easily generate rewards by simply holding digital tokens on Bitfinex. Staking rewards can be as high as 10%* per year for supported Digital Tokens. Please read the FAQs for details. The post Staking. Find out all about it. appeared first on Bitfinex blog. Unsubscribe to no longer receive posts from Crypto World Headline. Change your email settings at manage subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://blog.bitfinex.com/education/staking-find-out-all-about-it/ Powered by Jetpack

Rj posted: " Each class of crypto exchange has peculiarities that appeal to different users.Navigating the Crypto SpaceAccording to Crypto.com, the number of people that use cryptocurrencies is around 300 million. The number is projected to reach 1 Billion by the e" Crypto World Headline How Do You Know if a Crypto Exchange is Centralized or Decentralized? – Crypto World Headline Rj Nov 30 Each class of crypto exchange has peculiarities that appeal to different users. Navigating the Crypto Space According to Crypto.com, the number of people that use cryptocurrencies is around 300 million. The number is projected to reach 1 Billion by the end of year 2022, roughly one-tenth of the world's population. While the numbers are steadily increasing, not everyone involved with crypto has sound knowledge of the fundamentals.  For instance, decentralization and centralization are terms commonly used when describing cryptocurrency exchanges. But do you know the features that make an exchange centralized or decentralized? In this article, we will take a brief look at these terms to improve our understanding. Let's dive in. ‍ ‍ Cryptocurrency Exchanges‍ First, we need to know what a cryptocurrency exchange is. To put it simply, a crypto exchange is a platform where people buy or sell digital currencies. Each exchange has its rules of operation, but they all enable willing sellers of crypto to find willing buyers easily. Depending on how it operates, a crypto exchange can be classified as either Centralized or Decentralized. Let us look at the characteristics of each class:‍ ‍ Centralized Exchanges - CEX These are exchanges where buyers and sellers of crypto execute their trades through a third party. A great deal of trust is required to trade on centralized exchanges because traders leave their assets in the custody of the platform.  Centralized exchanges always require their users to register an account using identifiable information such as names and email addresses etc., that is, know-your-customer (KYC), before users can make use of the exchange. Centralized exchanges are typically regulated and need to comply with the regulations of the countries where they operate. The exchanges in this class are not limited to any particular blockchain. They can support the trade of crypto assets belonging to any blockchain. Prominent examples of Centralized exchanges include Binance, Coinbase, Kucoin, Huobi etc. Decentralized Exchanges - DEX This class of exchanges has opposite characteristics to that of Centralized exchanges: Trades do not involve a third party to manage the transaction or have custody of traders' assets. Traders hold their assets in their personal wallets and only release them at the time of trade. Decentralized exchanges require no form of KYC before users can trade. Anyone with a crypto wallet can trade on DEXes without any discrimination. DEXes, because of their decentralized nature, are not easy to regulate. They can operate in any jurisdiction without needing to comply with regulations. Most decentralized exchanges are built to operate on a particular blockchain. However, with recent developments, they have begun to support more than one chain though still not as much as the number supported by a typical CEX.  Well-known examples of decentralized exchanges include UniSwap, PancakeSwap, BakerySwap, ApeSwap, 1Inch, SushiSwap, Dodo etc. Is any class better than the other? Not necessarily so. Each one has its peculiarities which makes it appeal to different crypto users. Concluding Factors We have listed the most common characteristics that distinguish Centralized exchanges from Decentralized ones. The list does not contain all existing features; instead, it outlines the major things you should look out for when trying to classify an exchange. Most importantly, any exchange that requires you to register an account with your name and email address or other forms of KYC, and to deposit your assets out of your wallet to its wallet address before you can trade etc., is undoubtedly a Centralized exchange. If the exchange does not demand those requirements, you deal with a Decentralized one. Source link Comment Unsubscribe to no longer receive posts from Crypto World Headline. Change your email settings at manage subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://www.cryptoworldheadline.com/how-do-you-know-if-a-crypto-exchange-is-centralized-or-decentralized-crypto-world-headline/ Powered by Jetpack

Rj posted: "Winklevoss' Gemini exchange received the latest regulatory approvals days before its lending product Gemini Earn faced major issues. Go to Source Author: Cointelegraph By Helen Partz" Crypto World Headline Gemini gets regulatory greenlight in Italy, Greece amid lending halt Rj Nov 30 Winklevoss' Gemini exchange received the latest regulatory approvals days before its lending product Gemini Earn faced major issues. Go to Source Author: Cointelegraph By Helen Partz Comment Unsubscribe to no longer receive posts from Crypto World Headline. Change your email settings at manage subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://www.cryptoworldheadline.com/gemini-gets-regulatory-greenlight-in-italy-greece-amid-lending-halt/ Powered by Jetpack

Rj posted: " Litecoin (LTC) continues to prove its doubters wrong as it weathers the ongoing crypto winter in an impressive way, painting its charts in green and posting significant price increases during the last few days. At the time of this writing, the 13th la" Crypto World Headline Litecoin Continues To Impress With 25% Rally In Last Seven Days – Crypto World Headline Rj Nov 30 Litecoin (LTC) continues to prove its doubters wrong as it weathers the ongoing crypto winter in an impressive way, painting its charts in green and posting significant price increases during the last few days. At the time of this writing, the 13th largest cryptocurrency with an overall valuation of $5.51 billion, is trading at $76.80 and has gone up by 6% over the past 24 hours according to tracking from Coingecko. The asset's seven-day performance is beyond "just good" as it registered an increase of 25.1%. Meanwhile, on a month-to-date (MTD) basis, the altcoin is up by 36%. What make Litecoin's current run impressive is that it is happening during the same time when industry frontrunners Bitcoin and Ethereum are struggling to gain any ground to push their respective prices to higher levels. Litecoin: 'Profitable Opportunity' For Investors, Holders  As it turns out, LTC is not only doing wonders in terms of its trading session performances as it is currently in a "rewarding phase." During the last few days, the asset's Market Value to Realized Value (MVRV) has also reached the point where if holders of Litecoin were to sell their holdings at this very moment, they'll end up making good profit. One possible reason for the resurgence of the digital coin might be its mining activity. According to the information shared by the project through its official Twitter account, the asset was among the few proof-of-work digital currencies that were 'profitable' during the last few months. Despite reaching a mining difficulty score of 20.00 M, the profitability of Litecoin miners stood at $60%. In terms of hash rate, Litecoin witnessed a 13.25% increase compared to last month, indicating that the digital coin's network is both healthy and growing. Pay Attention To These Factors Before Holding Litecoin As remarkable as LTC is right now, it is important to note that its current price is almost 13% lower than where it was in November 23 when it tested the $83.36 resistance zone. This was the result of the altcoin's Relative Strength Index (RSI) indicator settling at 41.80, putting it in an overbought position as sellers clearly had the advantage. Another bearish sign for Litecoin is the rate at which it was being transferred from one address to another as it recorded a significant decline compared to that of last week. The network development activity also has not much to offer as of this time, indicating that developers have nothing new to offer right now. Finally, according to Coincodex's forecast, over the next five days, LTC is expected to rise by more than 12% on its way to hitting the $86 marker. A month from now, however, the cryptocurrency is predicted to lose some of its gains but will still change hands at $77.16 – a value that is higher than its current spot trading price. LTC total market cap at $5.5 billion on the daily chart | Featured image: Rvo.hu, Chart: TradingView.com Source link Comment Unsubscribe to no longer receive posts from Crypto World Headline. Change your email settings at manage subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://www.cryptoworldheadline.com/litecoin-continues-to-impress-with-25-rally-in-last-seven-days-crypto-world-headline/ Powered by Jetpack

Rj posted: "Bitcoin faces more than just FTX fallout in December, with macro data due and the Mt. Gox payouts getting closer. Go to Source Author: Cointelegraph By William Suberg" Crypto World Headline BTC price taps $17K as analysis warns of inbound Bitcoin 'risk events' Rj Nov 30 Bitcoin faces more than just FTX fallout in December, with macro data due and the Mt. Gox payouts getting closer. Go to Source Author: Cointelegraph By William Suberg Comment Unsubscribe to no longer receive posts from Crypto World Headline. Change your email settings at manage subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://www.cryptoworldheadline.com/btc-price-taps-17k-as-analysis-warns-of-inbound-bitcoin-risk-events/ Powered by Jetpack

Rj posted: " Litecoin's short-term sellers could benefit from LTC's ongoing price action  Litecoin ranked #1 as the biggest cryptocurrency by median hold  Crypto investors that bought Litecoin [LTC] after the FTX crash were reaping the benefits fol" Crypto World Headline Litecoin: A rise in sell pressure could still reap these LTC holders some profits – Crypto World Headline Rj Nov 30 Litecoin's short-term sellers could benefit from LTC's ongoing price action  Litecoin ranked #1 as the biggest cryptocurrency by median hold  Crypto investors that bought Litecoin [LTC] after the FTX crash were reaping the benefits following its bullish performance. LTC turned out to be the best cryptocurrency to hold in the medium term. However, Litecoin's current outlook suggested that it might be about to give up some of its recent gains. Read Litecoin's [LTC] price prediction 2023-2024 In its latest upgrade, the Litecoin Foundation noted that LTC took the number 1 spot as the biggest cryptocurrency by median hold. This meant that Litecoin holders had lower losses than other coins in the medium term and this was largely because of its upside. Ranking the biggest cryptocurrencies by median hold period: #Litecoin is in the #1 spot As of this time last year it was 93 days. Now it's 101 days. $LTC is the most HODL'd digital currency. pic.twitter.com/73WrMunfxF — Litecoin Foundation (@LTCFoundation) November 28, 2022 Litecoin delivered an overall positive performance after finding favor with investors. It rallied by as much as 72% from its monthly low to its current monthly high. A look at its latest price action revealed an interesting observation that might indicate a potentially sizable bearish retracement ahead. A comparison between Litcoin's price and Relative Strength Index (RSI) revealed a price-RSI divergence. LTC's price managed to achieve a new monthly high last week compared to the previous high in the first week of November. Interestingly, Litecoin's RSI achieved a lower high last week as compared to the previous high. Source: TradingView This pattern can be considered bearish because it underscores lower relative strength for the underlying asset. In this case, Litecoin's price action might be about to experience a surge in sell pressure. Especially if the overall market conditions fail to improve in favor of the bulls. Is Litecoin sell pressure building up? A look at some Litecoin metrics already indicated that some notable changes were occurring. For example, its velocity slowed down between 27 and 29 November. At the same time, the Age Consumed metric registered more activity, indicating that coins that have been held for some time were exchanging hands. Source: Santiment The above metrics confirmed that there was a noteworthy increase in sell pressure observed between 27 and 29 November. A look at address flows revealed an increase in both the sending and receiving addresses during the last 48 hours. This was confirmation of increased activity but the number of receiving addresses were slightly higher than sending addresses. Source: Glassnode The higher receiving addresses confirmed that there was still some demand at LTC's current level. However, this may not provide a comprehensive view of where demand is headed. A look at Litecoin's supply distribution might be better suited to gauge directional momentum. The supply distribution metric revealed that most of the large addresses categories leveled out. In other words, they weren't contributing to sell or buy pressure. That being said, addresses holding between 1,000 and 10,000 LTC have continued trimming their balances in the last two days. Source: Santiment This supply distribution metrics observation suggested a higher likelihood of sell pressure dominating Litecoin in the next few days. If these observations turn out accurate, then short sellers might have an opportunity ahead. Source link Comment Unsubscribe to no longer receive posts from Crypto World Headline. Change your email settings at manage subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://www.cryptoworldheadline.com/litecoin-a-rise-in-sell-pressure-could-still-reap-these-ltc-holders-some-profits-crypto-world-headline/ Powered by Jetpack

Rj posted: "A community member argued that the best crypto use case is still how crypto provides a decentralized, peer-to-peer payment system that eliminates middlemen like banks. Go to Source Author: Cointelegraph By Ezra Reguerra" Crypto World Headline What is the best crypto use case? Community answers Rj Nov 30 A community member argued that the best crypto use case is still how crypto provides a decentralized, peer-to-peer payment system that eliminates middlemen like banks. Go to Source Author: Cointelegraph By Ezra Reguerra Comment Unsubscribe to no longer receive posts from Crypto World Headline. Change your email settings at manage subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://www.cryptoworldheadline.com/what-is-the-best-crypto-use-case-community-answers/ Powered by Jetpack

Rj posted: " Overview Daily spot trading volume: $1.04 billion, 30 day average spot: $798.8 million. Total futures notional: $70.4 million. The top five traded coins were, respectively, Tether (↑0.02%), USD Coin (↓0.01%), Bitcoin (↑1.0%), Ethereum (↑4.2%), and " Crypto World Headline Kraken Daily Market Report for November 29 2022 – Crypto World Headline Rj Nov 30 Overview Daily spot trading volume: $1.04 billion, 30 day average spot: $798.8 million. Total futures notional: $70.4 million. The top five traded coins were, respectively, Tether (↑0.02%), USD Coin (↓0.01%), Bitcoin (↑1.0%), Ethereum (↑4.2%), and Dogecoin (↑6.9%). Strong returns from SuperFarm (↑21%), Harvest Finance (↑16%), and Orca (↑13%). The post Kraken Daily Market Report for November 29 2022 appeared first on Kraken Blog. Source link Comment Unsubscribe to no longer receive posts from Crypto World Headline. Change your email settings at manage subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://www.cryptoworldheadline.com/kraken-daily-market-report-for-november-29-2022-crypto-world-headline/ Powered by Jetpack

Rj posted: " Episode 119 of Season 4 of The Scoop was recorded live with The Block's Frank Chaparro, and Rob Paone, Founder and CEO of Proof of Talent. Listen below, and subscribe to The Scoop on Apple, Spotify, Google Podcasts, Stitcher or wherever you listen" Crypto World Headline How the crypto hiring landscape is responding to industry layoffs – Crypto World Headline Rj Nov 30 Episode 119 of Season 4 of The Scoop was recorded live with The Block's Frank Chaparro, and Rob Paone, Founder and CEO of Proof of Talent. Listen below, and subscribe to The Scoop on Apple, Spotify, Google Podcasts, Stitcher or wherever you listen to podcasts. Email feedback and revision requests can be sent to [email protected] As the crypto market struggles to gain its footing in the wake of FTX's demise, sweeping layoffs have thinned the ranks of many companies. In this episode of The Scoop, Rob Paone, founder and CEO of crypto recruiting firm Proof of Talent, shares his perspective on how the crypto hiring landscape has changed during the bear market. According to Paone, the current dynamic between job seekers and prospective employers is much more balanced than it was last year: "It's not 100% a company market right now… but it is a lot more equal than six to twelve months ago — it was a totally candidate-driven market of individuals naming their price and going wherever they wanted with multiple offers." Paone says that candidates with technical skills should still be able to find plenty of opportunities:  "The easiest transition for a lot of people is technical roles — there is a huge demand still for engineering talent…the non-technical roles can get a little bit more challenging." During this episode Chaparro and Paone also discuss: Advice for people looking for their first job in crypto How to negotiate compensation packages involving tokens The correlation between crypto companies and remote work This episode is brought to you by our sponsors Tron, Ledn About Tron Founded in 2013, Huobi Global is one of the largest virtual asset exchanges in the world. Huobi Global serves millions of users across international markets. Since its establishment, Huobi Global has committed to providing first-class virtual asset investment services. Huobi Global's robust infrastructure, product innovation and capital strength provides a truly customer-centric and secure trading environment to help our international users to achieve their investment objectives. Please refer to Huobi's official website for more information: huobi.com. About Ledn Ledn was founded on the unshakeable conviction that digital assets have the power to democratize access to the global economy. We help you to experience the real life benefits of your Bitcoin without having to sell it. Start a savings account, take out a loan, or double your Bitcoin. For more information visit Ledn.io © 2022 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice. Source link Comment Unsubscribe to no longer receive posts from Crypto World Headline. Change your email settings at manage subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://www.cryptoworldheadline.com/how-the-crypto-hiring-landscape-is-responding-to-industry-layoffs-crypto-world-headline/ Powered by Jetpack

Rj posted: " UniFi continues to innovate in the DeFi space, incentivizing multi-chain participation.What is UNIFI Protocol?UniFi Protocol is a decentralized autonomous organization (DAO) governed via the $UNFI governance token. UniFi grew its awareness through part" Crypto World Headline Project Insight: UniFi – Crypto World Headline Rj Nov 30 UniFi continues to innovate in the DeFi space, incentivizing multi-chain participation. What is UNIFI Protocol? UniFi Protocol is a decentralized autonomous organization (DAO) governed via the $UNFI governance token. UniFi grew its awareness through partnerships with the Binance Launch Pool, PancakeSwap, and more. UniFi Protocol DAO consists of non-custodial, interoperable, decentralized, and multi-chain smart contracts providing the building blocks for the next generation of Decentralized Finance (DeFi) development.   The UniFi protocol was created by the team of SESAMESEED, which started in April 2018, so they bring a lot of expertise to the UNIFI project. Specifically, the multi-chain aspects, like the "SEED BRIDGE." UniFi provides a bridge to connect the existing economy of Ethereum based DeFi products to competing blockchains. At the moment, UniFi is present on the following blockchains: Ethereum, Tron, Ontology, Harmony, Icon, IoTex, Polygon, and Binance Smart Chain. The UniFi Protocol is designed to provide developers with functional DeFi building blocks linking multiple blockchains together into one sizeable DeFi marketplace. uTrade is the official UniFi Protocol trading platform or Automated Market Maker (AMM) using its users' liquidity. Liquidity providers share a portion of the revenue generated by the entire UniFi Protocol and are not limited to a share of fees earned solely from a specific trading pair. Traders are refunded a portion of their trading fees in SEED token, which compounds and grows in value over time. uTrade is the only platform to offer a trading rebate, which automatically stakes on multiple blockchains and earns increasing rewards. UniFi utilizes its "seed bridge" to connect to EVM/NVM-based DeFi products to any compatible blockchain. UniFi Protocol features liquidity pooling, a fee-sharing governance token, loyalty rewards token, lending platform, and cross-chain swap interoperability.  Ethereum, Ontology, Harmony, Tron and Binance Smart Chain ‍ UNFI Token UNFI serves as the primary protocol and global governance token. With this token, you can obtain rewards for staking, delegate to elect representatives for the DAO, and receive rebates for it. It is the first sustainable DeFi token to incorporate Proof of Stake (POS) elements into its representative DAO governance model. $UNFI is the public face of the UniFi Protocol listed on major exchanges like Binance, HBTC, and Bibox, to name a few. Currently, the $UNFI token trades for around $11 and has a market capitalization around $53 Million. Currently, the protocol is home to a total of 327 LP pools with a sum of $23.2 Million total volume locked.  ‍ UP (Unlimited Potential) Liquidity Mining Token $UP is the blockchain-specific liquidity mining token of the UniFi Protocol. On uTrade, liquidity providers earn a portion of trading fees from every trade in every pair. Each blockchain where UniFi Protocol operates will have a designated base token in which fees and revenue are collected. These will be ONG on Ontology, ONE on Harmony, TRX on Tron, ETH on Ethereum, and of course, BNB Token for Binance Smart Chain. $UP minting occurs in direct proportion to the fees and revenue generated by the entire UniFi protocol. This revenue generation includes designated fees or revenue from all UniFi developed platforms and any projects developed by others that utilize the UniFi protocol. The minting process is designed to ensure the redemption value of all $UP tokens must go $UP every time a new $UP token is minted.  The $UP token creates a unique and lucrative rewards structure for all holders, protocol users, and liquidity providers. Even after liquidity is withdrawn, liquidity providers continue to share in fees as long as they hold UP tokens. As you can see, Yield Farming is built right into the UP token. SEED UniFi will bridge the economy of Ethereum based DeFi products to the growing DeFi markets on other blockchains. SEED is a multi-chain token backed by an increasing redemption value generated by SesameSeed's blockchain node rewards. SEED has the unique property of being equal on all represented blockchains, enabling cross-chain swaps utilizing SEED as a unique utility token. SEED is a representation of the rewards created through community participation across all blockchains it operates. SEED can be exchanged at any time for its pegged value. Holding SEED earns more SEED every day. ‍ uLEND uLEND is another excellent product by the UniFi Protocol. Using the SEED Bridge, it is possible to take out a loan collateralized in one blockchain and use the resulting funds in another. This tool could be handy for some people as they could do cross-chain trading, margin trade, and other metrics. ‍ Concluding Thoughts The UniFi project has a lot to offer between their cross-chain integration, lending platform, staking, and various tokens. The fact that you can earn and stack SEED as a rebate to every trade is impressive. The UP token also promises to accrue a lot of value over time. It will give governance rights in the future, as its name suggests UNLIMITED POTENTIAL, which can be said about the whole project. Bridging across many chains will undoubtedly be very useful for many users and projects. This "unify's" all projects on all chains, promoting a great user experience. It should bring new users to those chains, and people can choose the chain that works best and offers the lowest tx fees and time. Go ahead and check their social media and their project page:‍ Website | Telegram | Twitter  | Medium‍ Source link Comment Unsubscribe to no longer receive posts from Crypto World Headline. Change your email settings at manage subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://www.cryptoworldheadline.com/project-insight-unifi-crypto-world-headline/ Powered by Jetpack

Rj posted: "Binance has managed to expand its services throughout the past year by either acquiring an operating license or buying a stake in a regulated entity. Go to Source Author: Cointelegraph By Prashant Jha" Crypto World Headline Binance acquires regulated crypto exchange in Japan Rj Nov 30 Binance has managed to expand its services throughout the past year by either acquiring an operating license or buying a stake in a regulated entity. Go to Source Author: Cointelegraph By Prashant Jha Comment Unsubscribe to no longer receive posts from Crypto World Headline. Change your email settings at manage subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://www.cryptoworldheadline.com/binance-acquires-regulated-crypto-exchange-in-japan/ Powered by Jetpack

Rj posted: " Hello Friends thanks for watching my videos Crypto Exchanger Link to download in your Mobile Global Exchange BINANCE https://accounts.binance.com/en/register?ref=EHindi reference id EHINDI Social Media link TG Telegramchannel link https://t.me/every" Crypto World Headline Baby doge Coin | Use Case | Price analysis | upcoming event – Crypto World Headline Rj Nov 30 Hello Friends thanks for watching my videos Crypto Exchanger Link to download in your Mobile Global Exchange BINANCE https://accounts.binance.com/en/register?ref=EHindi reference id EHINDI Social Media link TG Telegramchannel link https://t.me/everythingajay If telegram links dosen't work Use this -https://appopener.com/web/lpxy4i2rn InstaGm https://www.instagram.com/everythingajay Follow on Twitter https://twitter.com/everythingajay facebook https://www.facebook.com/everythingajay reddit https://www.reddit.com/user/everythingajay for support email everythinghindiassist@gmail.com Disclaimer: Cryptocurrencies are a high risk investment and may not be suitable for all members of the public and all types of investor. You should not purchase cryptocurrency unless you understand the extent of your exposure to potential loss. We are only providing information for educational purpose only and no financial advice. One should know and study properly before investing into cryptocurrencies #Crypto #binance #babydoge source Comment Unsubscribe to no longer receive posts from Crypto World Headline. Change your email settings at manage subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://www.cryptoworldheadline.com/baby-doge-coin-use-case-price-analysis-upcoming-event-crypto-world-headline/ Powered by Jetpack

Rj posted: " NEAR, the native token of the public proof-of-stake (PoS) blockchain Near Protocol, dumped more than 50% of its current monthly high of $3.42 that it achieved on November 6. It seemed like a recurring theme for the digital asset which, in the middle p" Crypto World Headline NEAR Rebound Seen As It Registers 7% Spike In Last 24 Hours – Crypto World Headline Rj Nov 30 NEAR, the native token of the public proof-of-stake (PoS) blockchain Near Protocol, dumped more than 50% of its current monthly high of $3.42 that it achieved on November 6. It seemed like a recurring theme for the digital asset which, in the middle part of the month, shed 53% of its August 20 value. This is not surprising considering many altcoins were not spared from the lingering effects of the crypto winter that was compounded by the sudden collapse of FTX. Although it still has ways to go, NEAR seems to be slowly getting back on track, tallying an increase of almost 8% over the last 24 hours to trade at $1.60 according to tracking from Coingecko. Given the current market conditions, the high discount that the digital asset offers right now (its price has gone down by 55% from its monthly high) is very enticing for investors looking for viable entry point.  NEAR Blockchain Partners With Famed Rating Platform Near Protocol recently announced its newly forged partnership with ESG Dao, a rating protocol that measures the true impact of companies, people and societies. Although additional details are not available at the moment, the tie-up between the two organizations is said to focus on the development of an improved ESG rating system. We've teamed up with @esg_dao to empower them to build the world's first independent open, democratic, and credibly neutral set of ESG ratings. On #NEAR, naturally. Read more https://t.co/1BtCGmiMNk pic.twitter.com/seVP5sIchc — NEAR Protocol | Create Without Limits (@NEARProtocol) November 27, 2022 For its part, the blockchain network is looking at this development as a proof of its successful move towards its sustainability agenda and will definitely highlight its growing ecosystem that aims to thrive on real-world utility. The news might have been enough to trigger an upward movement in NEAR price but it failed to push network development activity numbers up, still within the lowest monthly levels ever recorded. This is not a good sign for the crypto asset and the blockchain as low development activity usually leads to low investor confidence. What To Expect From NEAR In The Next Few Days According to the forecast of Coincodex, the NEAR token will slightly increase its current spot trading price as it is predicted to hit $1.62 on December 5. Meanwhile, on December 31, right before the year ends, the crypto asset will trade at a significantly lower value of $1.05. One important thing to consider right now is that NEAR is within the range of its historic low which indicates that there might be a possibility for a bounce back in the coming days. However, as some of its metrics point towards a bearish momentum, investors are strongly advised to keep an eye on the asset's blockchain development as it could prove to be an integral factor for a bull run to happen. NEAR total market cap at $1.39 billion on the daily chart | Featured image from BingX Blog, Chart: TradingView.com Source link Comment Unsubscribe to no longer receive posts from Crypto World Headline. Change your email settings at manage subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://www.cryptoworldheadline.com/near-rebound-seen-as-it-registers-7-spike-in-last-24-hours-crypto-world-headline/ Powered by Jetpack

Rj posted: "Arrest warrants were sought for Terraform Labs co-founder Daniel Shin, three investors and four engineers responsible for TerraUSD (UST) and LUNA initiatives. Go to Source Author: Cointelegraph By Arijit Sarkar" Crypto World Headline South Korea issues arrest warrant for Do Kwon's former colleagues Rj Nov 30 Arrest warrants were sought for Terraform Labs co-founder Daniel Shin, three investors and four engineers responsible for TerraUSD (UST) and LUNA initiatives. Go to Source Author: Cointelegraph By Arijit Sarkar Comment Unsubscribe to no longer receive posts from Crypto World Headline. Change your email settings at manage subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://www.cryptoworldheadline.com/south-korea-issues-arrest-warrant-for-do-kwons-former-colleagues/ Powered by Jetpack

Rj posted: " Injective Protocol is a fully decentralized layer-2 platform, taking the crypto derivatives space by storm with the recent launch of their Solstice Testnet.Injective Protocol: The Leading Decentralized Derivatives ExchangeInjective is a fully decentral" Crypto World Headline Project Insight: Injective Protocol – Crypto World Headline Rj Nov 30 Injective Protocol is a fully decentralized layer-2 platform, taking the crypto derivatives space by storm with the recent launch of their Solstice Testnet. Injective Protocol: The Leading Decentralized Derivatives Exchange Injective is a fully decentralized layer-2 derivatives platform; it offers users a trade execution coordinator (TEC) and a decentralized order book. Injective leverages layer-2 technology to compile transfers on the Injective Chain using a EVM-compatible environment. The EVM is used on top of the Cosmos-SDK (based on ethermint), allowing scalable implementation on the Ethereum Network. Why Decentralization? As Crypto is becoming ever more decentralized, exchanges must follow suit. Traditional Centralized Exchanges (CEX) have many weaknesses concerning coin custody, identity breaches, server downtime, fees, and even insider trading. DEX's such as injective protocol negate many of these risks. To begin, users on DEX's can keep custody of their assets on hardware wallets. Users don't need to worry about identity risks as Injective is open and permission less; there is no "know your customer" (KYC). On top of this, users don't experience the taxing trading fees. Lastly, DEX's remove a central entity that can receive asymmetric information and bolster more inside trading in markets. While DEX's offer many benefits, it is also essential to understand their weaknesses as well. Due to a lack of early adoption, DEX's face liquidity problems. This leads to large spreads in low liquidity pairs. Due to no market-maker providing depth to the market, we witness a negative feedback loop. A lack of liquidity causes a loss of current users and drives away new users who could provide the needed liquidity. On top of this, DEX's are easy to "front-run," due to the proof of work (POW) system with an average block time of 15 seconds, users can place their orders at a higher priority for miners. Users who do this will be able to "front-run" DEX's getting a "fill" before the DEX and profiting on that move. With that being said, Injective has introduced its features to combat these common issues that DEX's face. ‍ Key Features: Fully decentralized layer two derivatives platform Market creation is open and permission less Layer-2 technology allows for low latency and zero gas fees Complete governance system with voting rights to those who hold INJ tokens Injective Protocols Innovation The injective protocol boasts a few key innovations that separate itself from other DEX's. These can be split into four separate domains, the client, service, Cosmos, and Ethereum. These respectively make up the backbone of the Injective protocol platform. ‍ Client Domain: Injective Exchange Client This consists of the Injective Exchange Client, which is the frontend that users interact with. The injective team has specifically focused on giving their users "a comprehensive yet friendly graphical user interface," one that can suit all users alike. Overall the Injective client provides users a complete decentralized exchange that is open source and accessible by anybody. Service Domain: Injective API & Injective EVM RPC The service domain provides nodes responsible for transaction relay services, data layer processes, and connection to the Injective EVM. Injective API nodes also simplify the transaction rely approach, resulting in direct interaction. On top of this, the nodes provide data and analytics services compatible with their Injective Exchange Client.  The nodes support the following API services: "Injective Derivatives and Spot Exchange APIs for the Injective Client, the 0x Standard Coordinator API, the Injective Derivatives Protocol Graph Node GraphQL API and other API services required by the Injective Exchange Client Cosmos Domain: Injective Chain & Injective Explorer This domain acts as the backbone of Injective Protocol, consisting of the Injective chain. The Injective Chain boasts its completely decentralized order book, Trade execution coordinator (TEC), and EVM execution environment with a token bridge to Ethereum. Incorporating an EVM and the Cosmos-SDK, the injective protocol executes smart contracts that are both scalable and interoperable on top of Ethereum's Proof-of-Work (POW) system. The Injective Chain incorporates several contracts allowing its users to enjoy all the fruits of decentralized derivates trading. 0x Exchange & Injective Derivatives Contracts These smart contracts allow users to participate in peer to peer exchanges in spot and derivatives trading. Two contracts are integrated, for spot markets, the 0x V3 Exchange Protocol, and for derivates, the Injective Derivates Protocol. Once written in solidity, these contracts can be deployed onto the EVM, where users interact with them through the exchange client. Staking Contract This contract can govern the Injective Protocol and process cross-chain transactions More detailed info on these smart contracts can be viewed here.  ‍ Ethereum Domain: The Injective EVM Bridge Contracts are smart contracts that ensure stability in the two-way peg between the Ethereum Network and the Injective Chain. These contracts facilitate the secured token bridge between ETH and INJ native tokens. ‍ INJ Tokenomics ‍ INJ's primary purpose serves as a governance token for the Injective Protocol. This token will allow users to vote on project proposals regarding the futures protocol, exchange parameters, and protocol upgrades. Another use-case for INJ is that users will be able to collateralize it. Like stable coins and other tokens used for margin, users will be able to INJ as margin in their derivative markets. On top of this INJ can be used in collateral backing or insurance pool staking, which will lock users' tokens but distribute interest on the locked amount. On top of this INJ will be used to incentivize market makers and relayers. In this system, makers will pay a .1% exchange fee, and takers will pay .2%. It is essential to understand that market makers will receive a net positive payment in fee rebases to incentivize liquidity, creating a tight spread and a considerable market depth. On top of this, nodes and validators can cater to trades directly through improving API or interfaces, which they will be rewarded for. More information on the formulas used in these incentives can be found here. The remaining exchange fees will be used for an on-chain buy-back-and-burn, almost acting a dividend for INJ users. This is a bit different, but in principal, the burn adds value to INJ holders. Finally, a portion of INJ will be distributed to users based on their notional profits. Users who have the highest notional profit will receive the most INJ to reward those who use the protocol the most. This will be done through a snapshot taken daily, where the tokens will be distributed to users daily. ‍ Roadmap ‍ ‍ The complete roadmap can be viewed in the image above. I have gone ahead and listed a few key releases to anticipate. For the scale of Injective Protocol, the team is working very diligently and has been on schedule for their roadmap. The team has recently completed the first launch of their public testnet successfully. Overall, 2021 is set to be a massive year for Injective Protocol. ‍ Q1 2021 ‍ Q2 2021 Multiple bridges (Binance Smart Chain) Additional liquidity mining ‍ Q3 2023 Launch 10+ perpetual swaps & expiry futures Cross-chain liquidity mining ‍ ‍ Concluding Thoughts Overall the Injective Protocol takes derivatives trading to the next level. Unlike most current DEX's, Injective can preserve traditional order books without compromising on security or speed. If anything, Injective improves overall safety and operability as it is a decentralized and permission less protocol. Through incorporating layer-2 scaling measures, INJ is also able to have ample throughput to facilitate trades transaction. Injective protocol solves issues that traditional CEX's introduce while preserving the novel aspects of them. On top of this, Injective can slash fees and even curb insider trading that can occur on traditional exchanges. Regarding the tokenomics there are a couple of key data points to look into. The first being the fully diluted market cap, close to $300,000,000; this diluted MC is very high, but emissions for INJ will continue for a couple of years. On top of this, there have been two sales of INJ, one at 8 cents and the other at 40 cents. This isn't the biggest deal as seed investors most likely are vested, but it is essential to understand that some buyers are already up hundreds of percent on this token. Overall it is not too worrying as INJ provides an actual use case, addressing many crypto trades' gripes. Those of you who currently trade on CEX's should check out Injective once launched on the mainnet. Source link Comment Unsubscribe to no longer receive posts from Crypto World Headline. Change your email settings at manage subscriptions. Trouble clicking? 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Rj posted: " Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer's opinion Cosmos [ATOM] witnessed a bullish MACD crossover – a buy signal ATOM saw improved deve" Crypto World Headline Cosmos: Risk-averse traders have reason to overlook ATOM's bullish crossover – Crypto World Headline Rj Nov 30 Disclaimer: The information presented does not constitute financial, investment, trading, or other types of advice and is solely the writer's opinion Cosmos [ATOM] witnessed a bullish MACD crossover – a buy signal ATOM saw improved development activity and funding rates, but the sentiment is still negative Cosmos [ATOM] rebounded after Bitcoin [BTC] reached $16.19K on 22 November. Notably, BTC's decline from $16.60K between 27 and 28 November led to the price correction of ATOM.   At the time of writing, ATOM was trading at $10.155, up 4% in the last 24 hours. Following a confirmed bullish Moving Average Convergence Divergence (MACD) crossover on 25 November, ATOM investors saw a buying opportunity ahead of them.  Read Cosmos' [ATOM] price prediction 2023-2024 However, ATOM's market structure was still bearish at press time. Therefore, risk-averse traders could be looking for buying opportunities after a breakout and retest of this Fib level in a day or two. A bullish MACD crossover: can the bulls sustain the upside momentum? Source: TradingView The bullish MACD crossover could be considered as the buy signal that coincided with a developing uptrend. However, the plotting of the Fibonacci retracement tool between the highest and lowest ATOM price points in November led to results that weren't convincing.   ATOM didn't break above the 23.6% Fib level ($10.413) – a significant resistance. If the bulls break the 23.6% Fib level and retest this level or confirm it as support, investors can take positions for a long trade as support at $9.854 can be considered as stable.   In this case, the target for a long position would be the bearish order block at the 50% Fib level ($12.289). Key technical indicators point toward this inclination.   The Relative Strength Index (RSI) retreated from the lower ranges bordering the oversold territory. It showed that the selling pressure was easing. This also meant that the bulls were slowly gaining influence.  Accordingly, the On-Balance Volume (OBV) reached some new highs since mid-November. It showed that trading volumes were increasing, which could increase buying pressure and help the bulls to break through resistance targets.   However, an intraday close below $8.736 would invalidate the above inclination. In this case, another downtrend could find new support at $7.059 or below. Improved development activity, but the sentiment remains negative Source: Santiment According to Santiment's data, ATOM saw a steady increase in development activity from October. However, development activity fell in mid-November, only to rise steadily again thereafter. Interestingly, ATOM's development activity correlated positively with its price performance. Therefore, the increase in development activity at the time of the press release could indicate a likely increase in ATOM's price.  However, the weighted sentiment of ATOM remained worryingly negative throughout November. As it also directly impacts the price of ATOM, this could complicate ATOM's ongoing price recovery.  Therefore, risk-averse traders shouldn't rush to buy the bullish MACD crossover. Waiting for a break of the 23.6% Fib resistance level and a retest would be a sure sign to initiate a move. However, waiting for a retest could lead to a missed opportunity if the uptrend continues without retesting the level.   Thus, cautious traders should wait for a convincing breakout above the 23.6% Fib level. In addition, you should monitor BTC's performance and sentiment on ATOM. Source link Comment Unsubscribe to no longer receive posts from Crypto World Headline. Change your email settings at manage subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://www.cryptoworldheadline.com/cosmos-risk-averse-traders-have-reason-to-overlook-atoms-bullish-crossover-crypto-world-headline/ Powered by Jetpack

Rj posted: " LedgerX, FTX Group's solvent subsidiary that also had to file for bankruptcy protection as part of the group, will make available $175 million for use in bankruptcy proceedings, Bloomberg reported Wednesday, citing people with knowledge of the matter." Crypto World Headline FTX's LedgerX to free up $175 million for use in bankruptcy proceedings: Bloomberg – Crypto World Headline Rj Nov 30 LedgerX, FTX Group's solvent subsidiary that also had to file for bankruptcy protection as part of the group, will make available $175 million for use in bankruptcy proceedings, Bloomberg reported Wednesday, citing people with knowledge of the matter. The money could be transferred as soon as today and comes from a $250 million fund that LedgerX had set aside, as it aimed to get regulatory approval to clear crypto derivatives trades without intermediaries, per the report. LedgerX withdrew its application with the US Commodity Futures Trading Commission (CFTC) as FTX Group filed for bankruptcy on Nov. 11. FTX US had acquired LedgerX last year and rebranded it to FTX US Derivatives. A CFTC spokesperson told Bloomberg that the agency is aware of a planned transfer. The transferred money could reportedly be used to repay FTX's creditors. The FTX Group has more than a million total creditors, a recent court filing indicated. The group currently has a combined cash balance of $1.24 billion, which is far below the $3.1 billion it owes its top 50 creditors. FTX Group collapsed earlier this month amid a sudden liquidity crisis. The crypto exchange operator reportedly tapped customer assets to fund risky bets by its affiliated trading firm, Alameda Research, setting up its implosion. CFTC chair Rostin Behnam is slated to testify about the FTX collapse in a US Senate committee hearing on Thursday. © 2022 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice. Source link Comment Unsubscribe to no longer receive posts from Crypto World Headline. Change your email settings at manage subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://www.cryptoworldheadline.com/ftxs-ledgerx-to-free-up-175-million-for-use-in-bankruptcy-proceedings-bloomberg-crypto-world-headline/ Powered by Jetpack

Rj posted: "<p>CrossTower, a New York-based <a href="https://www.financemagnates.com/terms/c/cryptocurrency-exchange/" target="_blank" id="601e2e5f-0c28-4253-9ad4-5e6b251ba2fa_1" class="terms__main-term">cryptocurrency exchange</a>, has agreed to ac" Crypto World Headline CrossTower Taps into Prime Brokerage with New Acquisition, BEQUANT Rj Nov 30 <p>CrossTower, a New York-based <a href="https://www.financemagnates.com/terms/c/cryptocurrency-exchange/" target="_blank" id="601e2e5f-0c28-4253-9ad4-5e6b251ba2fa_1" class="terms__main-term">cryptocurrency exchange</a>, has agreed to acquire BEQUANT, a prime brokerage and digital asset exchange. Neither of the companies disclosed the financial terms of the deal.</p><p>Announced on Monday, the closure of the deal will bring more than 600 professional exchange clients, generating a turnover of over $400 billion annually, to CrossTower. Further, <a href="https://www.financemagnates.com/cryptocurrency/news/crosstower-introduces-global-nft-marketplace/" target="_blank" rel="follow">CrossTower</a> expects to become "a focal point for the industry reset and consolidation" through the <a href="https://www.financemagnates.com/terms/a/acquisition/" target="_blank" id="3180494d-8751-4a02-9476-86dc1cd4d2e2_1" class="terms__secondary-term">acquisition</a>.</p><p>Additionally, it will help CrossTower to expand its global footprint by onboarding new clients from the United States, Bermuda, Europe, Latin America and Asia.</p><p>Along with the BEQUANT acquisition, CrossTower partnered with the Lydian Group to launch a crypto ESG fund.</p><p>"We are stabilizing an industry with incredible promise; regaining trust; and rebuilding the future of finance. Rebuilding requires capital and a management team with regulatory and operational expertise," said CrossTower's CEO, Kapil Rathi.</p><p>"With the launch of our fund and the BEQUANT acquisition, we are positioning CrossTower to lead the growth of this industry, with proper regulatory oversight, integrity, and accountability."</p><p>Bequant launched its <a href="https://www.financemagnates.com/cryptocurrency/news/bequant-launches-crypto-prime-brokerage-for-professional-investors/" target="_blank" rel="follow">cryptocurrency prime brokerage service</a> in 2020 to cater for the growing needs of the institutions. It offers a broad infrastructure covering onboarding, execution, settlement, reporting and custodianship.</p><p>A Tough Time for Crypto</p><p>The acquisition came when the cryptocurrency industry was experiencing a bearish sentiment and criticisms due to the collapse of Sam Bankman-Fried's <a href="https://www.financemagnates.com/tag/ftx/" target="_blank" rel="follow">FTX</a> empire, which led to the fall of several other high-flying cryptocurrency companies. In addition, the industry suffered through the collapse of the Terra ecosystem a few months earlier.</p><p>"The market requires consolidation for the next stage of its maturity," said George Zarya, the Founder and CEO of BEQUANT.</p><p>"Undoubtedly, the market will continue to grow and evolve with stronger regulation and with larger balance sheets, and it will earn back the trust of investors. We are uniquely positioned to bridge the gap with traditional finance and to modernize financial infrastructure. The combination of BEQUANT and CrossTower will allow us to have a truly global reach."</p> This article was written by Arnab Shome at http://www.financemagnates.com. Unsubscribe to no longer receive posts from Crypto World Headline. Change your email settings at manage subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://www.financemagnates.com/cryptocurrency/crosstower-taps-into-prime-brokerage-with-new-acquisition-bequant/ Powered by Jetpack

Rj posted: "Despite an overwhelmingly bleak year for the crypto industry, some executives and founders are still getting recognition. Forbes has recently published its Fintech '30 under 30′ list, and a surprising number of crypto executives and founders are includ" Crypto World Headline Crypto Founders Make The Cut For Forbes 30 Under 30 Rj Nov 30 Despite an overwhelmingly bleak year for the crypto industry, some executives and founders are still getting recognition. Forbes has recently published its Fintech '30 under 30′ list, and a surprising number of crypto executives and founders are included. African money transfer app founder Ham Serunjogi made the cover of its 2023 update of young entrepreneurs. It also honored many prominent crypto leaders. The list covers traditional financial services, fintech, crypto, and blockchain. There were more than a thousand nominations, but only 30 made the cut. Judges included cofounder and CEO of Brazil's digital bank Nubank, David Vélez. Nonfungible token marketplace OpenSea co-founder Alex Atallah also helped pick the top 30. (No, Sam Bankman-Fried was not among them this year!) Crypto showing in Forbes 30u30 Avalanche's @kevinsekniqi pic.twitter.com/0lkVWGHpVS — Frank Chaparro (@fintechfrank) November 29, 2022 Crypto Founders Keep Building Forbes acknowledged the 70% decline in crypto prices over the past year. However, it also acknowledged the work that industry founders and executives have done during the tumultuous year. "Despite the steep fall in cryptocurrency prices over the past year, digital asset entrepreneurs continue to gain rapid traction and have a broad impact, and they made a strong showing on this year's list." The list included Uniswap founder Hayden Adams at 28 years old. He launched the decentralized exchange and token swap platform in 2018, and it has been highly successful. Uniswap has processed more than $1 trillion in trade volume since its launch. Avalanche co-founder Kevin Sekniqi also made the elusive list. The high-throughput blockchain has also been extremely successful despite the crippling bear market. Other prominent crypto figures that made the list included The Graph Foundation director Eva Beylin and Castle Island Ventures partner Ria Bhutoria. Connext Labs cofounders Arjun Bhuptani and Layne Haber were also mentioned as was Jump Crypto president Kanav Kariya. Blockchain Capital partner Kinjal Shah, Frax Finance founder Sam Kazemian, and MoonPay founder Victor Faramond were included as well. 30% Crypto Related Entrepreneurs Around one-third of the fintech thirty have ties to the crypto industry. This gave it more weight despite the bleak year. The majority of those listed are associated with investment banking or venture capital. Vitalik Buterin made the prestigious list in 2018, as did Polychain Capital founder Olaf Carlson-Wee. The fintech 30 under 30 from 2021 infamously included former FTX founder Sam Bankman-Fried. Furthermore, nine crypto companies made the Forbes 'Fintech 50' list earlier this year.   The post Crypto Founders Make The Cut For Forbes 30 Under 30 appeared first on BeInCrypto. Go to Source Author: Martin Young Comment Unsubscribe to no longer receive posts from Crypto World Headline. Change your email settings at manage subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://www.cryptoworldheadline.com/crypto-founders-make-the-cut-for-forbes-30-under-30/ Powered by Jetpack

Rj posted: " Ripple is showing positive signs above the $0.365 support against the US Dollar. XRP price seems to be eyeing a fresh rally towards the $0.48 level. Ripple is slowly moving higher and trading above $0.35 against the US dollar. The price is now tradin" Crypto World Headline Smashing This Resistance Might Trigger Rally – Crypto World Headline Rj Nov 30 Ripple is showing positive signs above the $0.365 support against the US Dollar. XRP price seems to be eyeing a fresh rally towards the $0.48 level. Ripple is slowly moving higher and trading above $0.35 against the US dollar. The price is now trading above $0.380 and the 100 simple moving average (4-hours). There is a key bullish trend line forming with support near $0.381 on the 4-hours chart of the XRP/USD pair (data source from Kraken). The pair could start a strong increase if it clears the $0.415 resistance zone. Ripple Price Eyes Upside Break After a strong decline, ripple's XRP found support near the $0.320 zone against the US Dollar. The price started a decent increase above the $0.332 and $0.350 resistance levels. The bulls were able to lift the price above the 23.6% Fib retracement level of the key drop from the $0.5098 swing high to $0.3200 swing low. xrp price is now trading above $0.380 and the 100 simple moving average (4-hours). There is also a key bullish trend line forming with support near $0.381 on the 4-hours chart of the XRP/USD pair. It seems to be facing a major resistance near the $0.415 level. It is close to the 50% Fib retracement level of the key drop from the $0.5098 swing high to $0.3200 swing low. The next major resistance is near the $0.438 level. Source: XRPUSD on TradingView.com A successful break above the $0.438 resistance might send the price towards the $0.465 resistance. The next key resistance is near the $0.480 level. Any more gains might send the price towards the $0.50 level in the coming days. Dips Limited in XRP? If ripple fails to clear the $0.415 resistance zone, it could start a downside correction. An initial support on the downside is near the $0.381 level, the trend line, and the 100 simple moving average (4-hours). The next major support is near $0.350. If there is a downside break and close below the $0.350 level, xrp price could extend losses. In the stated case, the price could even decline below the $0.320 support. Technical Indicators 4-Hours MACD – The MACD for XRP/USD is now gaining pace in the bullish zone. 4-Hours RSI (Relative Strength Index) – The RSI for XRP/USD is now above the 50 level. Major Support Levels – $0.381, $0.365 and $0.350. Major Resistance Levels – $0.415, $0.438 and $0.480. Source link Comment Unsubscribe to no longer receive posts from Crypto World Headline. Change your email settings at manage subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://www.cryptoworldheadline.com/smashing-this-resistance-might-trigger-rally-crypto-world-headline/ Powered by Jetpack

Rj posted: " The team at Beefy.Finance has taken the BSC by storm: Simultaneously dominating the yield optimizer market share and strengthening the BSC community.Robo-Yield FarmersWhen people hear "Yield Aggregator," the first thing that comes to mind is yearn.fina" Crypto World Headline Project Insight: Beefy Finance – Crypto World Headline Rj Nov 30 The team at Beefy.Finance has taken the BSC by storm: Simultaneously dominating the yield optimizer market share and strengthening the BSC community. Robo-Yield Farmers When people hear "Yield Aggregator," the first thing that comes to mind is yearn.finance (YFI). This yield aggregator is based on the Ethereum network, where it dominates the market share. The incorporation of Andre Cronje's (YFI Founder) project allows users to yield farm tokens efficiently, with vault strategies created to maximize returns while minimizing the cost of fees. Enough about the Ethereum Network, Yield optimizers (aggregators) on the Binance Smart Chain (BSC) are faced with slightly different circumstances. A large part of yield optimization on the Ethereum network is avoiding ridiculous fees, which, as we know, is not an issue on the BSC. This opens up doors for much more involved strategies that can rebalance frequently and use an increased number of transactions to maximize Annual Percentage Yields (APY's). The appeal of yield aggregators is that it allows all users alike to become yield farmers effortlessly. Frequent vault updates remove the decisions independent yield farmers must make regarding APY maximization. On top of this, users don't need to worry about manually compounding their funds daily or weekly. The point of these projects is to allow users to take a set and forget its approach to yield farming. ‍ BSCs' Leading Yield Optimizer The team at Beefy Finance has a heavy focus on improving the BSC ecosystem as a whole. Through their governance platform, users and the team will be able to "help projects in BSC grow together, providing help with auditing, creating hackathons for interesting strategies to add to the platform, etc." Overall, the Beefy Finance team continuously improves their project, the BSC, and yield farmers' experience on the BSC. Beefy.Finance optimizes yields through a vault system; vaults serve as investment instruments, implementing strategies through smart contracts. These vaults automate the best yield farming opportunities. Vaults can perform the following actions: Use assets as liquidity, provide assets as collateral for others, manage collateral to reduce odds of liquidation, use assets to generate a yield and compound profits.  With the following actions, vaults allows users to automate their DeFi farming experience completely. Strategies are created by the community and the BIFI team, allowing the process to be effectively optimized. ‍ Compound Wizardry Now for those of you who don't know, compounding investing is your best friend. Beefy vaults compound daily, and some vaults compound multiple times a day. These compound functions are integrated into the vault strategies using heuristics to judge the optimal time of compounding. The systems take into account variables such as TVL, price, liquidity, and platform restrictions. Overall the Beefy vaults take care of the nitty-gritty compounding. ‍ APY vs. APR Annual Percentage Rate (APR) reflects a simple interest rate based on a year's worth of interest. On the other hand, the Annual Percentage Yield (APY) reflects the rate with compounding factored in. This is a crucial difference to understand, as 1% compounded daily will yield 3678.34% per year, which is exponentially larger than the >1% APY found in traditional finance. This brings us into a bit of financial math. For those of you who don't enjoy math ill make it quick. I will do a quick breakdown of the math behind compounding but will leave the rest up to the eager users who wish to learn more. You can check out a more in-depth explanation on the Beefy.Finance whitepaper. A=P(1+rn)^(nt) The formula above represents the formula for compound interest, where: P = principal amount (initial investment) R = annual nominal interest rate (Decimal) N = # of compounds per year T = number of years The compound equation is exponential, which results in graphs such as the one pictured below:  This is where Beefy separates itself from the pack. DeFi projects already boast insanely high yields, but Beefy vaults take it to the next level. Just in the sense of compounding, Beefy vaults can earn users upwards of 8x their initial investment after three years of compounding. Da BIFI Bois Similar to almost all DeFi projects, the Beefy.Finance project has its own governance token, $BIFI, which allows users to receive a portion of the vault's performance fees. This token represents the user's stake in the governance and revenue of the project. $BIFI holders can stake their tokens into the Governance pool; this pool disburses WBNB daily to users based on their percentage of the pool. Unlike many other BSC projects, users do not have to un-stake their tokens to participate in the voting process. This incentivizes much more voter participation, meaning users don't need to default their rewards to vote. Key Metrics Screenshot: October 7, 2021 The $BIFI token, as previously explained, allows users to reap rewards from the vaults. These metrics show the appeal behind $BIFI: the low capped supply and an even lower circulating supply due to most of the tokens being staked. This displays that many holders are holding onto their tokens to receive WBNB payouts. While most of the tokens are staked, there is no lock-in period, which means that the circulating supply can increase at a moment's notice. This is still a very unlikely scenario as BIFI has seen rapid growth and is a tiny market when compared to the scale of YFI ($740m). Overall, these metrics display the growth of BIFI and give us an insight into how much market share is left to be captured, and there is still plenty. Active Vaults: Currently Beefy.Finance has over 259 vaults, with the top vaults earning over one percent a day. I'm not sure who's been paying attention, but compounded consistently over a year, some of these vaults have seen APY's over 200,000%. Beefy's vaults currently sprawls across three platforms, PancakeSwap, Thugs.Finance and Fortube.  Be sure to check the whitepaper for the full project details. ‍ Allowance Checker The Beefy team isn't just looking to maximize its community members farming, but also focus' on keeping the BSC secure. They have released an Allowance Checker that allows users to identify projects/addresses that have an allowance to spend your tokens. This tool allows you to identify the addresses with allowance and lets users revoke spending permissions for a small transaction fee. Beefy's release of this tool enables users to stay proactive and ensure that no unwanted projects can drain their wallets. In the wave of recent BSC scams, security should be all investors' utmost priority, and the team at Beefy.Finance seems to agree.  For those who wish to learn more about maintaining safety on the BSC check out these two articles – Here & Here, by The Ape. ‍ Roadmap The Beefy.Finance team plans to be a stronghold of the BSC ecosystem. They plan to achieve long-term stability through creating a developing, designing, and finance-based community. The creation of a healthy community will ensure the innovation of Beefy continues to spur. Knowing that Beefy is prepared to succeed in the future, what is coming next? A Beefy OG community member, Power, provided some insight stating that "[He] will try to push the following initiative: Finalize the BSC ecosystem strategies to secure BIFI's earnings and their number one spot on the BSC." Beefy's focus at the moment is to solidify itself as the leading yield optimizer on the BSC. This consists of finalizing Cake, Thugs, and Narwhal vaults to continue propelling BIFI earnings higher. After discussion with multiple Beefy team members, this seems to be the consensus of the short-term focus. Many BIFI community members expressed the stress of moving to a cross-chain system through a broader lens.‍ Sirbeefalot and Superbeefyboy were also kind enough to comment on their outlooks. Sirbeefalot mentioned that one of their visions for BIFI is to improve YFI's bottlenecks by diversifying strategies and making them more available to users.  The Beefy team believes that innovation happens best with open markets, which is why they created a system to allow strategies to surface through calls and signals versus the "traditional" model of committees and voting of YFI. Superbeefyboy then added to the discussion his vision of building a bazaar- referencing The Cathedral and the Bazaar- or a DeFi app store. The general idea behind these points is that it allows all users alike to improve upon an existing foundation of technology. Final Thoughts Beefy vaults have taken the "traditional" implementation of YFI vaults and brought a unique spin to the BSC. Currently, Beefy vaults offer users the best yield farming experience on the BSC and only plan to innovate further. Their inclusive community governance system aims to attract many like-minded individuals to the crypto space, driving future developments. After speaking to the team, it is apparent that the Beefy team is oriented around building a strong foundation for both their project and the BSC ecosystem. With all this said, it is imperative to do your due diligence when making financial decisions. Keep an eye on these cows because they are cooking up some heat. Source link Comment Unsubscribe to no longer receive posts from Crypto World Headline. Change your email settings at manage subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://www.cryptoworldheadline.com/project-insight-beefy-finance-crypto-world-headline/ Powered by Jetpack

Rj posted: "Although the TradeLens platform will officially go offline in Q1 2023, Maersk said it's not given up its effort to digitize the supply chain industry. Go to Source Author: Cointelegraph By Brayden Lindrea" Crypto World Headline Blockchain-based supply chain platform canned by IBM and Maersk Rj Nov 30 Although the TradeLens platform will officially go offline in Q1 2023, Maersk said it's not given up its effort to digitize the supply chain industry. Go to Source Author: Cointelegraph By Brayden Lindrea Comment Unsubscribe to no longer receive posts from Crypto World Headline. Change your email settings at manage subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://www.cryptoworldheadline.com/blockchain-based-supply-chain-platform-canned-by-ibm-and-maersk/ Powered by Jetpack

Rj posted: "Phantom, the largest wallet on Solana, says it will expand to Ethereum and Polygon. It aims to become the MetaMask of Solana. With the latest deployment from Phantom, the largest wallet on Solana, popular non-custodial wallets like MetaMask may see a c" Crypto World Headline Phantom Wallet Adopts Multichain Strategy, Now Supports Ethereum and Polygon Rj Nov 30 Phantom, the largest wallet on Solana, says it will expand to Ethereum and Polygon. It aims to become the MetaMask of Solana. With the latest deployment from Phantom, the largest wallet on Solana, popular non-custodial wallets like MetaMask may see a competitor breathing down its neck.  Phantom is a wallet and browser extension that uses the Solana blockchain to manage cryptocurrencies and provide access to decentralized services. Phantom is a non-custodial web3 wallet and the most popular cryptocurrency wallet for the Solana blockchain.  Most new crypto users haven't heard of it since Solana only launched its mainnet in 2020. But the Phantom wallet mirrors what the MetaMask wallet is for the Ethereum blockchain.  In the first quarter of 2022, a Series B funding round was announced, which netted the project $109 million from leading venture capital firms. This came after the wallet reached one million active users, as reported by BeInCrypto on Nov. 7, 2021.  Phantom Expands for Multichain Support Fast forward to the said wallet, Phantom laid support to include two rival proof-of-stake blockchains. Namely, Ethereum (ETH) and Polygon, to its desktop, iOS, and Android apps, will roll out the beta version in the next few weeks. Soon after the completion of Beta tests, Phantom's multichain wallet will launch. The team highlighted this development in a Nov. 30 tweet:  1/ Coming soon: one wallet for everything. Excited to announce we are adding support for @ethereum and @0xPolygon! pic.twitter.com/gOy9lZcxnI — Phantom (@phantom) November 29, 2022 While announcing the new tool, Phantom also mentioned that its main goal is bringing cohesion to web 3.0, including non-fungible tokens (NFTs). The project tweeted that its collaboration with the Polygon team will help add some cohesion to NFTs, games, and apps powered by Polygon. 3/ And by partnering closely with the @0xPolygon team, we're offering a first-class wallet experience for the rapidly growing number of NFTs, games, and apps powered by Polygon. — Phantom (@phantom) November 29, 2022 As per the announcement's details, the upgraded wallet will let users see all holdings and NFTs in one place. Ergo, focusing on its multichain strategy. Meanwhile, Ryan Wyatt, CEO of Polygon Studios, further supported the release.  The world is coming to @0xPolygon, which continues with our partnership with @phantom! Not only are large Enterprise, DeFi, and Gaming teams preferring to build on Polygon, but now all of your favorite marketplaces and wallets are too Looking forward to working with @BChillman! https://t.co/jsPLXCQkaz — Ryan Wyatt (@Fwiz) November 29, 2022 Standing out  NFT holders can 'manage listings, burn spam, stay updated with helpful push notifications, and showcase their NFTs across all file formats and devices. Further includes viewing NFTs in the browser extension. One fundamental way Phantom is different is that it shows users' tokens across all blockchains it supports in one view. This contrasts with MetaMask, which forces users to switch between blockchains to see their different tokens.  The post Phantom Wallet Adopts Multichain Strategy, Now Supports Ethereum and Polygon appeared first on BeInCrypto. Go to Source Author: Shubham Pandey Comment Unsubscribe to no longer receive posts from Crypto World Headline. Change your email settings at manage subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://www.cryptoworldheadline.com/phantom-wallet-adopts-multichain-strategy-now-supports-ethereum-and-polygon/ Powered by Jetpack

Rj posted: "The Texas Securities Board has asked the judge to consider leveling a cease-and-desist order, administrative fines, and forced refunds against SBF and FTX US. Go to Source Author: Cointelegraph By Felix Ng" Crypto World Headline Bankman-Fried on the hook in Texas, called to appear at Feb. hearing Rj Nov 30 The Texas Securities Board has asked the judge to consider leveling a cease-and-desist order, administrative fines, and forced refunds against SBF and FTX US. Go to Source Author: Cointelegraph By Felix Ng Comment Unsubscribe to no longer receive posts from Crypto World Headline. Change your email settings at manage subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://www.cryptoworldheadline.com/bankman-fried-on-the-hook-in-texas-called-to-appear-at-feb-hearing/ Powered by Jetpack

Rj posted: "<p>Virtu Financial Inc (Nasdaq: VIRT) has launched a lawsuit against the <a href="https://www.financemagnates.com/tag/securities-and-exchange-commission/" target="_blank" rel="follow">Securities and Exchange Commission</a> (SEC), which o" Crypto World Headline Virtu Financial Sues SEC over Failed FOIA Requests Rj Nov 30 <p>Virtu Financial Inc (Nasdaq: VIRT) has launched a lawsuit against the <a href="https://www.financemagnates.com/tag/securities-and-exchange-commission/" target="_blank" rel="follow">Securities and Exchange Commission</a> (SEC), which oversees the securities market in the United States.</p><p>Announced on Tuesday, the lawsuit is based on the Freedom of Information Act (FOIA). It aims to compel the federal regulator to provide information about its rulemaking process and the interaction of 'interested parties' with SEC Chair <a href="https://www.financemagnates.com/cryptocurrency/gensler-wants-more-funds-for-the-sec-to-protect-crypto-investors-further/" target="_blank" rel="follow">Gary Gensler</a>.</p><p>"We do not take lightly the step of suing our primary regulator, but it has become clear that the Chair of the SEC is more focused on politics and <a href="https://www.financemagnates.com/terms/r/regulation/" target="_blank" id="341d154e-1396-4d12-a357-4837e79c4146_1" class="terms__main-term">regulation</a> by innuendo and hypothesis than earnestly engaging with an industry that has created the most fair and competitive equity markets for retail investors globally," said Virtu's Chief Executive Officer, Douglas Cifu.</p><p>Lack of Transparency Led to Lawsuit</p><p><a href="https://www.financemagnates.com/tag/virtu-financial/" target="_blank" rel="follow">Virtu</a>, an electronic market maker, submitted a FOIA request to the SEC last June for details about the new proposals for retail stock order handling and <a href="https://www.financemagnates.com/terms/e/execution/" target="_blank" id="60010adb-9e25-4bff-9822-c9210deec853_1" class="terms__secondary-term">execution</a>. It wanted to determine whether the regulator's rulemaking process included the legally required evaluation of potential investor harm and market risks. Furthermore, the company wanted to know if the regulator sourced feedback from 'broad' sources and whether it had considered objected data.</p><p>The FOIA information would have revealed details of the SEC's consultation with the industry and the nature of meetings and data that influenced the rulemaking proposals.</p><p>However, the SEC failed to produce any single response even after about six months of "detailed and compelling FOIA requests" by Virtu. The company took the regulator to court over concerns about concealing basic information on the rulemaking process.</p><p>"FOIA requests are highly routine in nature and among the important rules and procedures that provide a check on government, yet the Chair's delays and lack of transparency raise serious concerns," Cifu added.</p><p>The SEC is yet to release any official statement on the lawsuit against it.</p> This article was written by Arnab Shome at http://www.financemagnates.com. Unsubscribe to no longer receive posts from Crypto World Headline. Change your email settings at manage subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://www.financemagnates.com/institutional-forex/virtu-financial-sues-sec-over-failed-foia-requests/ Powered by Jetpack

Rj posted: " Disclaimer: Overall it is vital to proceed with caution when purchasing tokens that have just been listed. For those who have not already read our articles on safety in the BSC it is crucial to reference the following items, HERE and HERE.This is a pai" Crypto World Headline Mastering Crypto Withdrawals on Binance – Crypto World Headline Rj Nov 30 Disclaimer: Overall it is vital to proceed with caution when purchasing tokens that have just been listed. For those who have not already read our articles on safety in the BSC it is crucial to reference the following items, HERE and HERE. This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $1500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release. Disclaimer: Overall it is vital to proceed with caution when purchasing tokens that have just been listed. For those who have not already read our articles on safety in the BSC it is crucial to reference the following items, HERE and HERE. This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $2500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release. Disclaimer: This is a paid Ask Me Anything (AMA), BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement AMA for $2000 Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the AMA. Don't forget to download the BSC News mobile application on iOS and Android to keep up with all the latest news for BNB Chain and crypto. Follow us on Twitter and Instagram! If you need tools and strategies regarding safety and crypto education, be sure to check out the Tutorials, cryptonomics explainers, and Trading Tool Kits from BSC News. Looking for a job in crypto? Check out the CryptoJobsNow listings! Disclaimer: This article is exclusive BSC News Premium Content. Premium content is viewable without a membership for a limited time. After the limited time period expires, readers will need to either subscribe or hold a BSC News NFT to view Premium Content. Visit the BSC News NFT website, Discord, and Twitter to learn more about becoming a Premium member. Source link Comment Unsubscribe to no longer receive posts from Crypto World Headline. Change your email settings at manage subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://www.cryptoworldheadline.com/mastering-crypto-withdrawals-on-binance-crypto-world-headline/ Powered by Jetpack

Rj posted: " After a series of legislative twists and turns spanning seven years, Brazil's long-awaited crypto bill could finally reach the president's desk. Brazil's Chamber of Deputies voted on Tuesday to pass on a crypto regulation bill to Brazil's preside" Crypto World Headline Brazil's long-awaited crypto bill inches to the finish line after seven years – Crypto World Headline Rj Nov 30 After a series of legislative twists and turns spanning seven years, Brazil's long-awaited crypto bill could finally reach the president's desk. Brazil's Chamber of Deputies voted on Tuesday to pass on a crypto regulation bill to Brazil's president, Jair Bolsonaro, whose term ends on Dec. 31 to make way for the return of Luiz Inácio Lula da Silva. The crypto regulation is to define digital assets and their service providers, as well as help guard against money laundering and fraud. The bill gained momentum after Brazil's Senate approved a version of it in April, but slowed in the past few months as it sat in the Chamber of Deputies awaiting a decision after several points in the Senate version were stripped out. One of the most widely-debated topics had to do with a provision that would require crypto exchanges to follow certain guidelines for segregating client funds. According to the Brazilian crypto publication Portal do Bitcoin, lawmakers decided to put the asset segregation issue on hold to pass the larger bill today.  Regulating the crypto industry is especially relevant in Brazil due to the size of the market and the number of scams the country has seen in recent years. One of the most high-profile cases came to light when federal police seized nearly $28 million related to an alleged system of pyramid schemes. Brazil comes in at seventh place on Chainalysis' latest Global Crypto Adoption Index. The blockchain analytics firm calculated that the South American country had received nearly $142.7 billion in cryptocurrency between July 2021 and June 2022 — more than any other country in the region. © 2022 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice. Source link Comment Unsubscribe to no longer receive posts from Crypto World Headline. Change your email settings at manage subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://www.cryptoworldheadline.com/brazils-long-awaited-crypto-bill-inches-to-the-finish-line-after-seven-years-crypto-world-headline/ Powered by Jetpack

Rj posted: "The Electrum wallet allows Bitcoiners to interact with the protocol in ways that do not limit or sacrifice more detailed features for a friendlier interface.This is an opinion editorial by Arman The Parman, a Bitcoin educator passionate about privacy.Over" Crypto World Headline Why I've Settled On The Electrum Bitcoin Wallet Rj Nov 30 The Electrum wallet allows Bitcoiners to interact with the protocol in ways that do not limit or sacrifice more detailed features for a friendlier interface. This is an opinion editorial by Arman The Parman, a Bitcoin educator passionate about privacy. Over many years, I have tinkered with various Bitcoin wallets and mentored many people to hold their private keys securely. I settled on "Electrum Desktop Wallet" as my favorite and most versatile software wallet. In this essay, I will outline some of Electrum's features, and my likes and dislikes. This is not a detailed guide on how to use it and get the most out of it. I also won't be going into why you should hold your own Bitcoin keys; it's assumed you know and desire to do this, but if you need to know why it's essential, please take a look at "Six Reasons To Withdraw Your Bitcoin From Exchanges." I have experienced first-hand Electrum's idiosyncrasies and worked out solutions to overcome them - if used correctly, it is the most powerful wallet I have come across. Electrum is for the person who is, or aspires to be, a "power" user. Because it allows so much control, and because of my familiarity with the software, I choose to teach this wallet to most of the students as part of my Bitcoin privacy/security mentorship course (although some people need something simpler to use). The experience of teaching how to use it has certainly helped me understand what people find intuitive and what they find tricky. For the new Bitcoiner going at it alone, Electrum would be totally safe to use, provided they take their time and use it in a testing environment with only a small number of sats at first. Operating System Electrum can be installed on a Windows PC, Mac computer, or a Linux PC, and importantly for some, on ARM chip computers (i.e. Raspberry Pi's). It can also be installed on a phone, but the mobile version's functionality is poor, and its connection to nodes has been erratic, so I don't recommend that version. BlueWallet is a good alternative for a phone wallet. Downloading And Verifying Downloading and installing the program is straightforward for Windows and Mac, and a little tricky for Linux users, particularly those who are still learning to use Linux. For those just testing the program out, simply downloading and using it without verifying the software is fine - I just wouldn't do that for large amounts, or if privacy is a big concern (i.e. if you have KYC free bitcoin, you need to practice good privacy to keep the coins unidentifiable). If you are in fact going to end up using this wallet for a significant sum, then you should learn to verify the software with gpg. You can build your skills around this here. You can do that while waiting for my guide on how to use Electrum safely/privately. The Environment One problem with Electrum is that if you run the program in the most intuitive way (i.e. just double click the icon) rather than the command line (with certain flags), you will almost certainly connect to a random Bitcoin node which will expose your wallet and all its potential 8.6 billion addresses to the owner of the random node - the owner could be a surveillance company, and there goes your privacy (they will get all your used and unused addresses, and your IP address). To overcome this, I will teach you, in the next installment, how to load up a disposable wallet first, optimise your network settings (connect to your own node, or one you trust), and only then load your real wallet into Electrum. Some people may be lost on what I mean by network settings or nodes. You can learn more about that here if you feel like going on a very important tangent. The Electrum Wallet has a very clean layout displaying your addresses, although you have to know to go to the menu and select "show addresses" to see it. Then you'll get a list of your first 20 receiving addresses highlighted green (you have 4.6 billion of these but obviously not all shown), and a list of your first 10 receiving addresses highlighted yellow (again, you have 4.6 billion of this type). Many other software wallets don't show you a list of addresses and only provide an address when requested to send coins to the wallet. This hides information from the user to keep things simple, but the user tends to remain ignorant, as the opportunity to learn is not presented. I have met many people who use Ledger Live or the Trezor suite, or Blue Wallet on their phone, and don't realize they have limitless addresses, let alone something called "change" addresses. Electrum also shows you a list of all your UTXOs (but you have to select "show coins") to enable that. Electrum Server Is Necessary Electrum Wallet can not connect to your Bitcoin Core node directly. This is annoying, but it does make electrum run faster. Much faster. You still need Bitcoin Core, but you will also need software called Electrum Server (of which there are different varieties each with their advantages and disadvantages, which I won't go into here). Installing Bitcoin Core is hard enough for some people. Installing Electrum Server is MUCH harder, you really need to be fairly techy. For ease and positive reinforcement, I recommend people install, for their first node, a node-package like MyNode (see my guide) or Raspiblitz (see my guide), before moving on to installing a node and associated software on a regular PC. These packages have some weaknesses but are excellent to begin with because with a single installation process on a Raspberry Pi 4, you get many applications (like Electrum Server, Lightning, BTCPay Server, Mempool viewer - which you'd otherwise have to install one by one, and potentially verify) and the cost is only about $300 for all the equipment (the software is free). As your skills and interest progresses, then I recommend people look into more advanced node setups (none of which get expensive). In case you're wondering why you should run a node at all, here are six excellent reasons. Wallet Creation I think it's useful to define the two types of wallets before going much further: Software wallet - this is the program that manages your Bitcoin private keys and addresses. Eg Electrum, Sparrow, Blue Wallet. Bitcoin wallet - by this, I mean the collection of unique addresses that are created deterministically (and reproducibly) from your mnemonic seed phrase (usually 12 or 24 words) - each seed phrase has 8.6 billion unique addresses that it can access/create. Electrum, by default, creates wallets that are not standard which is very annoying. The most common protocol is called BIP39 (Bitcoin Improvement Proposal 39) that nearly all wallets will use. That means that the 12 or 24 words that your BIP39 wallet created will be compatible with other BIP39 wallets, such that if you lose your software (or hardware) wallet, then you can get it back by entering your seed words into any compatible BIP39 wallet - it doesn't have to be the same brand. The Electrum developer, however, has his own plans and thinks the industry standard is unsafe (he has an outrageously unrealistic concern about BIP39). Instead of BIP39, Electrum creates wallets based on its own protocol - which no other wallet uses by default. Unfortunately, if you create an Electrum seed phrase, you can only use that seed phrase with Electrum. Importantly, Electrum will allow you to restore a BIP39 wallet into it, but you have to know how. It will not, however, create a BIP39 wallet for you. But there are ways around this. You can also simply load a single address into Electrum to observe its balance - it doesn't even have to be yours (although, don't get ideas about spending the balance, that's not possible unless you load in the private key, in which case the address would be yours). When creating or restoring a Bitcoin wallet with Electrum, you can choose what address type to have: Legacy - these addresses start with 1 - the original Bitcoin addresses. Pay-to-Script-Hash - these addresses all start with '3'. Segwit - From 2017 after the Segwit soft fork, you could create "Pay-to-witness-public-key-hash" (also called "Native Segwit", or "Bech32"). These are the most commonly used now. They all start with "bc1q." Taproot. This is new and not yet supported by Electrum. Taproot was a soft fork in 2021. Addresses start with "bc1p." The first three address types listed have extended public keys that look a little different from each others'. They start with xPub, yPub, and zPub, respectively. I believe taproot is tPub but I'm still getting familiar with that. For more education material about Bitcoin public and private keys, you can read here. Labels This feature is not unique, but very important to have if you want to maintain privacy through good coin control. By labeling your UTXOs, you'll know which ones you might want to avoid spending together with others. For example, if you have a KYC-free or mixed coin, and you select it together with a KYC coin and send the combined total somewhere, then the private coin can be identified as belonging to whoever owns the KYC coin (since someone had the ability to spend both together). Don't do that. The labels can be saved to a file so they can be uploaded to a different computer should you have duplicate wallets. Coin Selection Coin selection is a great feature. You can go to your address windows, and pick the coin you want to spend - or group several of them for spending. If you don't select which coin you want to spend, like any other software, Electrum will choose the "best" coin to spend for you - but the software doesn't always know what's best. It doesn't know which coins not to merge, which ones are dust attacks, and which ones are mixed. You know this, because you've labeled them, and then you can decide how to manage it. Sending/Receiving The process of sending bitcoin payments is very "fine tunable." You can keep it simple, but there's also an advanced button which I encourage people to always use - at least learn to get familiar. Here you can see exactly the important elements of the Bitcoin transaction - the inputs (with Tx IDs and addresses), the outputs, whether any listed addresses are found in your own wallet or not (through colour-coding), the mining fee and an ability to fine-tune it, the size of the transaction (in bytes), if there is a lock time, and if replace-by-fee is enabled. You don't need to know right away what all these things mean, but at least they are there and as you get experienced, you'll know what things to learn about. When receiving, you can go to the receiving tab and the next unused address will be provided - with that you can copy/paste as needed or generate a QR code. Alternatively, you can go to the address window and select any address you see to create an invoice. You can right-click, select details, and you'll see a button to create a QR code of the address or you can just copy the address text. As soon as a payment is made to an address, and is waiting in the mempool, Electrum will show you the payment sitting with the address, which is handy - you don't need to wait for a miner to mine the coin for you to know the payment is coming. Electrum also allows you to spend such an unconfirmed coin. If a sender has set a very low fee and confirmation is taking a while, you can hurry up the payment by spending the unconfirmed transaction to another one of your addresses. In that second (downstream) transaction, you could add a high mining fee. To collect the fee, a miner would have to include the first transaction (not lucrative) and the downstream transaction you created (lucrative) - why? Because the second transaction is invalid until the first transaction is valid (as you can't spend coins that theoretically don't exist). This technique is called "child pays for parent." Another technique possible with Electrum, to speed up payments, is called RBF (replace by fee). This is not possible for the receiver to do as described above with "child pays for parent." Instead, an impatient receiver must ask the sender to perform a RBF. The sender will resend the original UTXO which has been "spent" but not yet mined to the blockchain. That UTXO can be put in an alternative transaction (spending to the same address as the first transaction, or another), and with a higher mining fee. Whichever of the two transactions gets mined first will be valid and the other becomes invalid. As a side note, RBF allows the potential for fraud. If a receiver (merchant) accepts an unconfirmed transaction as "payment received" and delivers the goods to the sender of the payment, the sender has an opportunity to perform a RBF transaction before the original payment gets mined. They would use their own address as the recipient of the payment, and add a high fee. When that gets mined, the original transaction becomes invalid, is dropped by all the nodes from the mempool, and the balance from the merchant's wallet disappears. This is why you'll notice that Bitcoin exchanges, when you deposit bitcoin, will wait for confirmation on the blockchain before crediting your account. Multisignature wallets Electrum manages multisignature wallets really well, and for a time I believe it was the only software wallet you could use. You can have cosigners with hot keys (software wallets) or cold keys (connect hardware wallets). The multisignature public keys can be made one at a time, on different days, in different places on different computers (or hardware wallets) - spreading it out reduces the risk of a single point of failure/attack. How far you take the precautions is up to you. Extra details about multisig wallets and keys can be found here, and I'll have a guide on making these wallets in the future. The wallet creation process is excellent but with some quirks which become irrelevant once you know about them. I really like how Electrum handles partially signed Bitcoin transactions (PSBTs), an important feature of multisig wallets, discussed next. PSBTs An Electrum bitcoin transaction is represented by just a bunch of text (which themselves represent binary numbers, as all computer data is). You have the ability to save that text to a file, a QR code, or to the clipboard (as text, for copy/paste into an email for example). That text can be sent anywhere, and however you want. If you are so inclined, you can extract the text and send it by email, a physical letter, Morse code, smoke signals, gravitational waves back in time via a black hole, or interpretive dance - that's up to you. Electrum gives you the ability to extract that text and save it, before it's signed, after it's signed, or in a multisignature setting when it's partially signed. Multisignature is particularly interesting. If there are for example 3 key holders around the world, you can sign a transaction on your computer, extract the partially signed Bitcoin transaction, email it (or QR code over a video call) to another participant overseas, they can import it, sign it, then send it to the 3rd person for signing and broadcasting. No, this is not unique to Electrum, I just like how Electrum handles it. The workflow is not intuitive though, and takes practice. Pay To Many (PayJoin And CoinJoin) There is a hidden feature (search the menus) where you can choose multiple destinations (multiple outputs) when spending. For example you can take 6.15 bitcoin, and send 0.01 bitcoin to 615 different employees, all in one transaction. This feature allows you to create PayJoins manually - something only a minority of people would do, or even understand, but it's cool nonetheless. Pay to Many also allows you to create your own manual CoinJoins. For more information on what that is and how to do it, see this guide. Gap Limit An important feature that not all wallets have is the ability to set the gap limit. As I mentioned earlier, every wallet is a collection of 8.6 billion addresses. The software wallet must connect to a node and ask if an address has bitcoin associated with it. It's not going to check all 8.6 billion of them. Electrum asks for the first 20 addresses. If they are uded, it will ask for another 20, and so on. It will keep this up until the node returns 20 unused addresses in a row. This is a way to explain that the default gap limit is 20, but you can change that. Why would you? Because sometimes merchants allow customers to produce bitcoin addresses themselves through a payment app (like my donation page, hint-hint). If the first 20 customers make invoices (one address each, sequentially given by the app), and then the 21st customer generates an invoice and pays, then the Electrum wallet will appear empty. This happens because the first 20 addresses will be queried, found to be unused, and then Electrum will stop searching. Electrum allows you to change the gap limit, eg to 500 but there are no instructions, you'd have to research online, or find it right here: You'll have to first go to the menu: view→show console, and then type this command in the console (of course the "500" can be changed to another number): wallet.change_gap_limit(500) With this command, you'll see 500 new addresses in the address window. Watching Wallets These are wallets without private keys, necessary for hardware wallets to connect to. Most people with a hardware wallet use the software on the computer that "came with" the device, but they are not usually open source. Electrum is an alternative that can be used with any hardware device. Air-Gapped Computers It's possible to install Electrum on a computer that can't ever connect to the internet (Air-gapped computer). That computer can be used to check that the seed phrase a hardware wallet gives, created the correct addresses from the seed. For example, you might buy a BitBox02 hardware wallet, and it creates a 24 word seed for you, and from that, create addresses (with associated private keys hidden from view). Depending on the level of paranoia you have (and the amount of bitcoin you are storing), you might choose not to trust the embedded software, and assume at first that the addresses it creates belong to the CEO to start with. To check the addresses are genuine, you need to put the seed words into (restore) a different wallet - eg Electrum; and make sure Electrum generates identical addresses. That's easy enough, but you can't just type seeds into any old computer with Electrum on it. Well, you can but you really really shouldn't - malware can potentially extract your keystrokes and steal your bitcoin. One solution is to enter the seeds into Electrum on a clean and secure air-gapped computer (or a different brand hardware wallet). The cheapest way is with a Raspberry Pi Zero - They used to cost about $10 before pandemic-induced shortages. The ARM chip on these devices means not all software wallets are compatible. Electrum is and works magnificently. Here's how to build your own. It's like a seed signer but has the full functionality of Electrum. Sign/Verify A Message A Bitcoin transaction is a payment that contains a coin that was previously "locked" by an address. To unlock the coin (with respect to the rules of Bitcoin) and be allowed to spend it, using public/private key cryptography, one must prove they own the private key to the address contained within. That is done with a signature (using the private key, but not revealing it). The signed transaction is itself a message; a bit of computer data, although following a strict protocol. Using public/private key cryptography, outside of Bitcoin, you can actually sign ANY message. For example, here is a message I signed after I selected an address (and therefore its private key). Below is the message, the address and the signature (nonsense-looking text), which was produced after I clicked "sign." Now you or anyone can take the address, the message, and the signature, put it in Electrum (or other software), and verify that it really was the correct private key (matching the address) that produced that message (this is actually the same type of verification that Bitcoin nodes do for any Bitcoin transaction). I'll open another wallet that hasn't got the relevant private key, to demonstrate verification. I went into the "verify message" window, then entered all the details as you see above, and then clicked Verify: Encrypt/Decrypt A Message Instead of signing a message with public/private key cryptography, the output can be an encrypted version of the message (i.e. jumbled up and unreadable) using someone else's public key/address. The encrypted version can then be sent to anyone who has the corresponding private key, because the text can only be read when the private key is used to reverse the process. For example, you could have been given my bitcoin public key, encrypted this message as above, emailed me the cyphertext (the random-looking text in the bottom field), and because I have the private key to the public key, I can reverse the encrypted message to the original form and read your wrong-think message. In this way, you can send text to me across an insecure communication channel, and only I can read it. This is the magic of public/private key cryptography, and one of the main components that made Bitcoin possible. We should all be thankful that the cypherpunks fought hard, and won, against the US government who tried to ban it in the 1990s. Summary This was a long review of the Electrum Desktop Wallet. Hopefully, that has piqued your interest to learn how to use it - I will release a guide on this very soon. In the meantime, it may be worth practicing very basic Bitcoin transactions by following this exercise. This is a guest post by Arman The Parman. Opinions expressed are entirely their own and do not necessarily reflect those of BTC Inc or Bitcoin Magazine. Unsubscribe to no longer receive posts from Crypto World Headline. Change your email settings at manage subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://bitcoinmagazine.com/technical/why-i-use-electrum-bitcoin-wallet Powered by Jetpack

Rj posted: "A clear principles-based regulatory approach to the digital assets sector could be a huge benefit to the Australian economy according to the report. Go to Source Author: Cointelegraph By Luke Huigsloot" Crypto World Headline Digital assets could add $40B a year to Aussie GDP: Tech Council report Rj Nov 30 A clear principles-based regulatory approach to the digital assets sector could be a huge benefit to the Australian economy according to the report. Go to Source Author: Cointelegraph By Luke Huigsloot Comment Unsubscribe to no longer receive posts from Crypto World Headline. Change your email settings at manage subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://www.cryptoworldheadline.com/digital-assets-could-add-40b-a-year-to-aussie-gdp-tech-council-report/ Powered by Jetpack

Rj posted: " Bitcoin price gained bullish momentum above the $16,500 resistance. BTC could rise further if there is a close above the $17,000 resistance. Bitcoin started a decent increase above the $16,500 and $16,650 resistance levels. The price is trading above" Crypto World Headline Bitcoin Price Regains Traction, BTC Seems Primed for More Upsides – Crypto World Headline Rj Nov 30 Bitcoin price gained bullish momentum above the $16,500 resistance. BTC could rise further if there is a close above the $17,000 resistance. Bitcoin started a decent increase above the $16,500 and $16,650 resistance levels. The price is trading above $16,500 and the 100 hourly simple moving average. There was a break above a major bearish trend line with resistance near $16,450 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could rise further if there is a close above the $17,000 resistance. Bitcoin Price Gains Bullish Momentum Bitcoin price formed a base above the $16,200 support zone. BTC started a steady increase and was able to clear the $16,500 resistance zone and the 100 hourly simple moving average. During the increase, there was a break above a major bearish trend line with resistance near $16,450 on the hourly chart of the BTC/USD pair. The pair even surpassed the 76.4% Fib retracement level of the downward move from the $16,589 swing high to $16,000 low. Bitcoin price is now trading above $16,500 and the 100 hourly simple moving average. It is testing the 1.618 Fib extension level of the downward move from the $16,589 swing high to $16,000 low. Source: BTCUSD on TradingView.com On the upside, an immediate resistance is near the $16,950 level. The first major resistance is near the $17,000 zone, above which the price may perhaps accelerate higher. In the stated case, the price could test the $17,500 resistance. The next major resistance is near $18,000, above which the price could gain pace for a move towards the $18,800 zone. Dips Supported in BTC? If bitcoin fails to climb above the $17,000 resistance, there could be a downside correction. An immediate support on the downside is near the $16,800 level. The next major support is near the $16,500 zone or the 100 hourly SMA, below which the price decline further. In the stated case, the price might drop towards the $16,200 support zone. Any more losses might call for a test of the key $16,000 support zone in the near term. Technical indicators: Hourly MACD – The MACD is now gaining pace in the bullish zone. Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is now above the 50 level. Major Support Levels – $16,800, followed by $16,500. Major Resistance Levels – $16,950, $17,000 and $17,500. Source link Comment Unsubscribe to no longer receive posts from Crypto World Headline. Change your email settings at manage subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://www.cryptoworldheadline.com/bitcoin-price-regains-traction-btc-seems-primed-for-more-upsides-crypto-world-headline/ Powered by Jetpack

Rj posted: " Guys be very careful scammers are making fake crypto India telegram channels & fake youtube profiles to scam people. (These channels will have high-bought subs and will scam you) So only join the official channel with the link mentioned below : https" Crypto World Headline BITCOIN || ETHEREUM || DOGE UPDATE || WIN IPHONE 14 PRO MAX – Crypto World Headline Rj Nov 30 Guys be very careful scammers are making fake crypto India telegram channels & fake youtube profiles to scam people. (These channels will have high-bought subs and will scam you) So only join the official channel with the link mentioned below : https://www.telegram.me/OfficiaLCryptoIndia Also, remember we never ask for money, and don't have paid courses or paid groups. We do everything for free - so if someone asks for money - That's a scammer. --------------------------------- Trusted Exchanges that we use : Indian Exchange : CoinDCX : https://coindcx.com/signup?r=55032323 Gift Card Reward App : Gosats : https://gosats.page.link/zbE6 P2P Exchange : Paxful : https://paxful.com/?r=71zko2NgvYa​ LocalBitcoins : http://tiny.cc/LocalBtc Spot Trading Exchange : Binance Spot Trading : http://tiny.cc/BinanceSpot KuCOIN : http://tiny.cc/Kucoin Huobi : http://tiny.cc/Huobii OKex : https://www.okex.com/join/1/1823839 Gate.IO - https://www.gate.io/signup/1806186 Leverage Trading Exchange : Binance : http://tiny.cc/BinanceFutures BitMex : http://tiny.cc/BitMex Delta : https://www.delta.exchange/CryptoIndia Follow Us : Telegram : https://www.telegram.me/OfficiaLCryptoIndia Twitter : http://twitter.com/cryptooindia Facebook : http://fb.me/cryptoindiaa Buy Ledger Hard Ware Wallet - https://www.ledger.com?r=4280b88abd4e​ Make Account on Trading View - https://bit.ly/2ZxknZt #bitcoin #BitcoinAnalysis #BitcoinNews DISCLAIMER The Information provided on, from or through this channel is general in nature and is solely for educational purposes. The generic market recommendations provided by us are based solely on our personal judgment and should be considered as such. You're advised to enter into any transactions relying on your OWN judgment. Any market recommendations provided by us are generic only and may or may not be consistent with the market positions or intentions of our channel and/or our affiliates. Any opinions, news, research, analyses, prices, or other information contained on this channel are provided as general market commentary, and do not constitute an investment advice. All information contained herein should be independently verified and confirmed. We do not accept any liability for any loss or damage whatsoever caused in reliance upon such information or services. Please be aware of the risks involved with any trading done in any financial market. Do not trade with money that you cannot afford to lose. source Comment Unsubscribe to no longer receive posts from Crypto World Headline. Change your email settings at manage subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://www.cryptoworldheadline.com/bitcoin-ethereum-doge-update-win-iphone-14-pro-max-crypto-world-headline/ Powered by Jetpack

Rj posted: " Bitcoin accumulation has rallied since the collapse of FTX New BTC buyers have seen lower losses than an average existing BTC holder As the general cryptocurrency market took a bite at recovery following the sudden collapse of FTX, Gla" Crypto World Headline Bitcoin's accumulation trend score and everything latest for your next trade – Crypto World Headline Rj Nov 30 Bitcoin accumulation has rallied since the collapse of FTX New BTC buyers have seen lower losses than an average existing BTC holder As the general cryptocurrency market took a bite at recovery following the sudden collapse of FTX, Glassnode, in a new report, considered whether Bitcoin's [BTC] continued sell-offs represented a continuation of the bearish trend. Was there a deeper psychological shift among BTC investors?  Read Bitcoin [BTC]'s Price Prediction 2022-2023 From distribution to accumulation The on-chain analytics platform found that all cohorts of BTC investors have pivoted towards coin accumulation after the recent price decline.  Glassnode assessed BTC's Accumulation Trend Score metrics and found that the recent surge in accumulation following the significant sell-offs could be linked to 2018. This behavioral shift has also followed many major sell-off events, such as the March 2020 COVID crash, May 2022's LUNA collapse, and June 2022, when the price first fell below $20,000.  Source: Glassnode An investor cohort that perfectly exemplifies the accumulation trend is holders of less than one BTC, known as shrimps. According to Glassnode, this category of investors has, "…recorded two distinctive ATH waves of balance increase over the last 5 months. Shrimps have added +96.2k BTC to their holdings since the collapse of FTX and now hold over 1.21M BTC, equivalent to a non-trivial 6.3% of the circulating supply." Source: Glassnode The fate of new Bitcoin buyers Glassnode went further to assess the state of new BTC investments following the FTX debacle. By observing the relationship between the cost basis of Short-Term Holders and the Spot Price, which was at $18,830k, Glassnode found that "the average recent buyer is underwater by -12%." While noting that new buyers had a superior entry point to the average holder, Glassnode found that sellers approached exhaustion in the current BTC market, and heavy distribution was met with an equal proportion of accumulation. This, according to Glassnode, drove the STH Cost Basis below the Realized Price, putting new buyers at an advantage. History in the making A look at BTC's Adjusted MVRV Ratio revealed that the current BTC market was at its lowest "since the near pico-bottom set in Dec 2018 and Jan 2015." Whenever this metric is less than one, it means that the active market is in an aggregate loss.   Glassnode found that this metric returned to a value of 0.63, "which is very significant since only 1.57% of trading days in bitcoin history have recorded a lower Adjusted MVRV value." Source: Glassnode An assessment of BTC's aSOPR metric also revealed that "realized losses have also been historic in magnitude." According to Glassnode, "The recent market reaction to the FTX sell-off manifested as an aSOPR reading which broke below the low band for the first time since March 2020. The significance of this event is again only comparable with the COVID crash and the capitulation of the market in December 2018." Source: Glassnode Source link Comment Unsubscribe to no longer receive posts from Crypto World Headline. Change your email settings at manage subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://www.cryptoworldheadline.com/bitcoins-accumulation-trend-score-and-everything-latest-for-your-next-trade-crypto-world-headline/ Powered by Jetpack

Rj posted: "It comes after months of window shopping by CrossTower as crypto companies are still looking to expand despite the crypto market downturn. Go to Source Author: Cointelegraph By Brayden Lindrea" Crypto World Headline CrossTower to acquire institutional prime brokerage BEQUANT Rj Nov 30 It comes after months of window shopping by CrossTower as crypto companies are still looking to expand despite the crypto market downturn. Go to Source Author: Cointelegraph By Brayden Lindrea Comment Unsubscribe to no longer receive posts from Crypto World Headline. Change your email settings at manage subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://www.cryptoworldheadline.com/crosstower-to-acquire-institutional-prime-brokerage-bequant/ Powered by Jetpack

Rj posted: " Disclaimer: This is not investment advice. The information provided is for general purposes only. No information, materials, services and other content provided on this page constitute a solicitation, recommendation, endorsement, or any financial, inve" Crypto World Headline Aave Dropped -26.01% in Last Month and is Predicted to Reach $69.20 By Dec 05, 2022 – Crypto World Headline Rj Nov 30 Disclaimer: This is not investment advice. The information provided is for general purposes only. No information, materials, services and other content provided on this page constitute a solicitation, recommendation, endorsement, or any financial, investment, or other advice. Seek independent professional consultation in the form of legal, financial, and fiscal advice before making any investment decision. Aave is up 3.26% today against the US Dollar Aave is currently trading 10.45% below our prediction on Dec 05, 2022 Aave dropped -26.01% in the last month and is down -75.18% since 1 year ago Aave price $ 61.97 Aave prediction $ 69.20 (11.57%) Sentiment Bearish Fear & Greed index 29 (Fear) Key support levels $ 60.13, $ 58.67, $ 57.56 Key resistance levels $ 62.71, $ 63.81, $ 65.28 AAVE price is expected to rise by 11.57% in the next 5 days according to our Aave price prediction is trading at $ 61.97 after gaining 3.26% in the last 24 hours. The coin outperformed the cryptocurrency market, as the total crypto market cap increased by 1.02% in the same time period. AAVE performed well against BTC today and recorded a 1.66% gain against the world's largest cryptocurrency. According to our Aave price prediction, AAVE is expected to reach a price of $ 69.20 by Dec 05, 2022. This would represent a 11.57% price increase for AAVE in the next 5 days. AAVE Price Prediction Chart Buy/Sell Aave What has been going on with Aave in the last 30 days Aave has been displaying a negative trend recently, as the coin lost -26.01% in the last 30-days. The medium-term trend for Aave has been bearish, with AAVE dropping by -27.18% in the last 3 months. The long-term picture for Aave has been negative, as AAVE is currently displaying a -75.18% 1-year price change. On this day last year, AAVE was trading at $ 249.67. Aave reached its all-time high price on May 18, 2021, when the price of AAVE peaked at $ 664.97. The current AAVE cycle high is $ 115.27, while the cycle low is at $ 45.88. AAVE has been displaying high volatility recently – the 1-month volatility of the coin is at 19.18. Aave recorded 16 green days in the last 30 days. Aave technical analysis for today - Nov 30, 2022 The sentiment in the Aave markets is currently Bearish, and the Fear & Greed index is reading Fear. The most important support levels to watch are $ 60.13, $ 58.67 and $ 57.56, while $ 62.71, $ 63.81 and $ 65.28 are the key resistance levels. Bearish sentiment for Aave 12 indicators are currently signaling a bullish prediction for Aave, while 14 indicators are showing a bearish forecast. With 54% of indicators favoring a negative prediction. This results in an overall Bearish sentiment for Aave. Crypto market is currently experiencing Fear Currently, the Fear & Greed index is at 29 (Fear), which signals that investors have a negative outlook on the market. The Fear & Greed index is a measure of sentiment among cryptocurrency investors. A "Greed" reading suggests that investors are currently optimistic about the cryptocurrency market, but can also be an indication that the market is overvalued. A "Fear" reading, on the other hand, signals that investors are currently hesitant about the cryptocurrency market, which potentially represents a buying opportunity. Aave moving averages & oscillators Let's take a look at what some of the most important technical indicators are signaling. We'll be going through key moving averages and oscillators that will allow us to get a better idea of how Aave is positioned in the market right now. Period Daily Simple Daily Exponential Weekly Simple Weekly Exponential MA3 $ 61.06 (BUY) $ 61.60 (BUY) - - MA5 $ 60.78 (BUY) $ 61.03 (BUY) - - MA10 $ 58.94 (BUY) $ 60.19 (BUY) - - MA21 $ 59.37 (BUY) $ 62.13 (SELL) $ 80.44 (SELL) $ 79.98 (SELL) MA50 $ 72.32 (SELL) $ 68.90 (SELL) $ 120.53 (SELL) $ 121.72 (SELL) MA100 $ 76.84 (SELL) $ 75.94 (SELL) $ 224.73 (SELL) $ 167.29 (SELL) MA200 $ 81.65 (SELL) $ 93.55 (SELL) - - Period Value Action RSI (14) 42.70 NEUTRAL Stoch RSI (14) 76.85 NEUTRAL Stochastic Fast (14) 76.52 NEUTRAL Commodity Channel Index (20) 66.67 NEUTRAL Average Directional Index (14) 22.26 NEUTRAL Awesome Oscillator (5, 34) -10.38 NEUTRAL Momentum (10) 1.83 NEUTRAL MACD (12, 26) 0.99 NEUTRAL Williams Percent Range (14) -23.48 NEUTRAL Ultimate Oscillator (7, 14, 28) 61.25 NEUTRAL VWMA (10) 58.59 BUY Hull Moving Average (9) 61.62 SELL Ichimoku Cloud B/L (9, 26, 52, 26) 74.27 NEUTRAL The Relative Strength Index (RSI 14) is a widely used indicator that helps inform investors whether an asset is currently overbought or oversold. The RSI 14 for Aave is at 42.70, suggesting that AAVE is currently neutral. The 50-day Simple Moving Average (SMA 50) takes into account the closing price of Aave over the last 50 days. Currently, Aave is trading above the SMA 50 trendline, which is a bullish signal. Meanwhile, the 200-day Simple Moving Average (SMA 200) is a long-term trendline that's calculated by taking an average of the AAVE closing price for the last 200 days. AAVE is now trading above the SMA 200, signaling that the market is currently bullish. The bottom line about this Aave prediction After considering the above factors, we can conclude that the current forecast for Aave price prediction is Bearish. AAVE would have to increase by 11.57% to hit our $ 69.20 target within the next five days. Moving forward, it will be important to monitor the AAVE market sentiment, the key support and resistance levels, and other metrics. However, we have to keep in mind that the cryptocurrency markets are unpredictable, and even the largest crypto assets display a lot of price volatility. For long-term Aave price predictions click here. Disclaimer: This is not investment advice. The information provided is for general purposes only. No information, materials, services and other content provided on this page constitute a solicitation, recommendation, endorsement, or any financial, investment, or other advice. Seek independent professional consultation in the form of legal, financial, and fiscal advice before making any investment decision. Source link Comment Unsubscribe to no longer receive posts from Crypto World Headline. Change your email settings at manage subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://www.cryptoworldheadline.com/aave-dropped-26-01-in-last-month-and-is-predicted-to-reach-69-20-by-dec-05-2022-crypto-world-headline/ Powered by Jetpack

Rj posted: " Disclaimer: Overall it is vital to proceed with caution when purchasing tokens that have just been listed. For those who have not already read our articles on safety in the BSC it is crucial to reference the following items, HERE and HERE.This is a pai" Crypto World Headline MVB VI Registration Opens with Support from BNB Chain and Binance Labs – Crypto World Headline Rj Nov 30 Disclaimer: Overall it is vital to proceed with caution when purchasing tokens that have just been listed. For those who have not already read our articles on safety in the BSC it is crucial to reference the following items, HERE and HERE. This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $1500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release. Disclaimer: Overall it is vital to proceed with caution when purchasing tokens that have just been listed. For those who have not already read our articles on safety in the BSC it is crucial to reference the following items, HERE and HERE. This is a paid press release, BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement article for $2500. Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the press release. Disclaimer: This is a paid Ask Me Anything (AMA), BSC.News does not endorse and is not responsible for or liable for any content, accuracy, quality, advertising, products, or other materials on this page. The project team has purchased this advertisement AMA for $2000 Readers should do their own research before taking any actions related to the company. BSC.News is not responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods, or services mentioned in the AMA. Don't forget to download the BSC News mobile application on iOS and Android to keep up with all the latest news for BNB Chain and crypto. Follow us on Twitter and Instagram! If you need tools and strategies regarding safety and crypto education, be sure to check out the Tutorials, cryptonomics explainers, and Trading Tool Kits from BSC News. Looking for a job in crypto? Check out the CryptoJobsNow listings! Disclaimer: This article is exclusive BSC News Premium Content. Premium content is viewable without a membership for a limited time. After the limited time period expires, readers will need to either subscribe or hold a BSC News NFT to view Premium Content. Visit the BSC News NFT website, Discord, and Twitter to learn more about becoming a Premium member. Source link Comment Unsubscribe to no longer receive posts from Crypto World Headline. Change your email settings at manage subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://www.cryptoworldheadline.com/mvb-vi-registration-opens-with-support-from-bnb-chain-and-binance-labs-crypto-world-headline/ Powered by Jetpack

Rj posted: " Crypto firm Genesis Global Capital warned last week about a possible bankruptcy filing, and now some of its creditors are pursuing options in order to prevent such a move. Law firms Proskauer Rose and Kirkland & Ellis are said to be involved " Crypto World Headline Genesis creditors organize in bid to forestall bankruptcy move: Bloomberg – Crypto World Headline Rj Nov 30 Crypto firm Genesis Global Capital warned last week about a possible bankruptcy filing, and now some of its creditors are pursuing options in order to prevent such a move. Law firms Proskauer Rose and Kirkland & Ellis are said to be involved in discussions with creditors, according to Bloomberg.  The company is trying to avoid a bankruptcy protection filing, Genesis told the news outlet. A letter penned last week by Digital Currency Group chief executive Barry Silbert also said the firm was pursuing options. Genesis Trading was previously said to be seeking as much as $1 billion in emergency funding for its lending arm, though would-be investors like Binance ultimately bowed out. Genesis Global Capital previously halted withdrawals and new loan originations and disclosed it had some funds in FTX.  Genesis, which offers lending as well as brokerage services, is one of a number of companies impacted by the downfall of FTX as well as a broader downturn in the crypto market that began earlier this year. © 2022 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice. Source link Comment Unsubscribe to no longer receive posts from Crypto World Headline. Change your email settings at manage subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://www.cryptoworldheadline.com/genesis-creditors-organize-in-bid-to-forestall-bankruptcy-move-bloomberg-crypto-world-headline/ Powered by Jetpack

Rj posted: "Brazilian lawmakers have approved a complete regulatory framework for crypto, regulating the use of bitcoin as payment.Brazilian lawmakers have approved a complete regulatory framework for the trading and use of cryptocurrencies in the country.Voted on Tu" Crypto World Headline Brazil Approves Bill Regulating Use Of Bitcoin As Payment Rj Nov 30 Brazilian lawmakers have approved a complete regulatory framework for crypto, regulating the use of bitcoin as payment. Brazilian lawmakers have approved a complete regulatory framework for the trading and use of cryptocurrencies in the country. Voted on Tuesday evening in Brasilia, the country's capital, the new rules recognize bitcoin as a digital representation of value that can be used as a means of payment and as an investment asset in the South American nation. The bill applies broadly to a sector which it calls "virtual assets," and now only needs the President's signature before it becomes law. It does not make bitcoin or any cryptocurrency a legal tender in the country. The bill tasks the executive power with selecting government bodies to oversee the market. The expectation is that the Central Bank of Brazil (BCB) will be in charge when bitcoin is used as payment, while the country's securities and exchange commission (CVM) will be the watchdog when it is used as an investment asset. Both the BCB and the CVM, along with the federal tax authority (RFB), helped lawmakers craft the overhaul legislation. Home to a vibrant cryptocurrency economy, Brazil has at times seen more citizens trade coins such as bitcoin than invest in the stock market. Now, the country seeks to set the stage for that to translate into more day-to-day usage in financial transactions. But not all in the text is positive for the development of the market in the country. A big miss from Tuesday's vote was the rejection of a clause that sought to cut some state and federal taxes on purchases of bitcoin mining machines. While the text was quite restrictive –– the benefit would only apply to operations using renewable energy sources –– it was apparently not enough to be approved. Other provisions include the regulation of service providers such as exchanges, who will need to abide by specific rules to operate in Brazil. The bill seeks to regulate the establishment and operation of Bitcoin service providers in Brazil, defining such entities as those who provide cryptocurrency trading, transfer, custody, administration, or sale on behalf of a third party. Cryptocurrency service providers will only be able to operate in the country after explicit authorization by the federal government. One rule sought to demand that such companies explicitly separate their patrimony from capital owned by customers –– for example, bitcoin the firm custodies for users. The clause sought to prevent events such as the recently seen with FTX, where user funds were commingled with the company's funds, and help the recovery of user assets in the event of bankruptcy. It was rejected on Tuesday's vote. Unsubscribe to no longer receive posts from Crypto World Headline. Change your email settings at manage subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://bitcoinmagazine.com/legal/brazil-approves-use-of-bitcoin-as-payment Powered by Jetpack

Rj posted: " Polkadot price seems to be returning on its feet, courtesy of recent developments. DOT's network released its newest update, highlighting some core developments that could pave a path for its foundational roadmap for 2023. Polkadot has plans to delve " Crypto World Headline Polkadot Reflects Accumulation, How Long Will It Trade Sideways? – Crypto World Headline Rj Nov 30 Polkadot price seems to be returning on its feet, courtesy of recent developments. DOT's network released its newest update, highlighting some core developments that could pave a path for its foundational roadmap for 2023. Polkadot has plans to delve deeper into smart contract development through its project Substrate. This focuses on the network's intention to bring more utility. DOT has also expressed interest in wanting to enter the NFT section. Looking at the technical outlook, the coin has picked up on some positive price action. Over the last 24 hours, DOT moved upward, albeit slowly. This slow price movement could be attributed to broader market weakness. The buyers seemed to pick up the pace, indicating increased demand for the asset. To correspond with the same sentiment, DOT registered a significant increase in its market cap. Polkadot Price Analysis: One-Day Chart Polkadot was priced at $5.31 on the one-day chart | Source: DOTUSD on TradingView DOT was trading at $5.31 at press time. The altcoin has been sandwiched between the $5 and the $5.6 zone for weeks. The increase in accumulation, however, makes it seem as though Polkadot might be able to breach the overhead resistance of $5.70. In the event of breaching the immediate resistance, DOT might also reach $6.21, giving investors significant gains. On the flip side, if DOT remains stuck under the $5.60 mark for too long, demand will wane, resulting in depreciation. Polkadot's next stop would be $4.50 in that case. Technical Analysis Polkadot depicted rise in buying strength on the one-day chart | Source: DOTUSD on TradingView DOT has registered a slow uptick in buying strength in the last few weeks. At press time, the chart witnessed a surge in buyers. The Relative Strength Index showed a rise as the indicator moved past the 40-mark and closer to the neutral zone. This was a sign of increased demand and incoming positive price action. On the same note, Polkadot was attempting to move above the 20-Simple Moving Average line due to an increase in buying strength. However, the reading reflected that sellers were still in control and driving the price momentum. Polkadot displayed sell signal on the one-day chart | Source: DOTUSD on TradingView In correspondence to the Simple Moving Average, DOT received sell signal on the 24-hour chart. The Awesome Oscillator indicates its price momentum and strength. The indicator formed red signal bars underneath the neutral line, which were sell signals, but those were declining. This meant that there was a chance that the price action would change during the next trading session. Parabolic SAR, however, remained negative with dotted lines above the candlesticks. DOT must push past the $5.70 price ceiling with the support of the broader market. Source link Comment Unsubscribe to no longer receive posts from Crypto World Headline. Change your email settings at manage subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://www.cryptoworldheadline.com/polkadot-reflects-accumulation-how-long-will-it-trade-sideways-crypto-world-headline/ Powered by Jetpack

Rj posted: "You can listen to or watch this video here: This is the second part of a series that will explain the three software clients currently operating or being implemented on Ethereum Classic. The series will consist of the following topics: The Difference Be" Crypto World Headline Blog: The Difference Between Blockchain Software and Blockchain Protocol Rj Nov 30 You can listen to or watch this video here: This is the second part of a series that will explain the three software clients currently operating or being implemented on Ethereum Classic. The series will consist of the following topics: The Difference Between a Network, a Blockchain, and a Cryptocurrency The Difference Between Blockchain Software and Blockchain Protocol Are There Software… Go to Source Author: Donald McIntyre Unsubscribe to no longer receive posts from Crypto World Headline. Change your email settings at manage subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://www.cryptoworldheadline.com/blog-the-difference-between-blockchain-software-and-blockchain-protocol/ Powered by Jetpack

Rj posted: " One Mike Tyson Golden Mystery Box NFT holder will win a 'historic mystery experience' with the boxing legend.. Source link " Crypto World Headline Binance NFT Gives Boxing Fans the Chance to Meet Mike Tyson – Crypto World Headline Rj Nov 30 One Mike Tyson Golden Mystery Box NFT holder will win a 'historic mystery experience' with the boxing legend.. Source link Comment Unsubscribe to no longer receive posts from Crypto World Headline. Change your email settings at manage subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://www.cryptoworldheadline.com/binance-nft-gives-boxing-fans-the-chance-to-meet-mike-tyson-crypto-world-headline/ Powered by Jetpack

Rj posted: " L2 protocols on the Ethereum blockchain reached a monthly all-time high with Optimism and Arbitrum leading the front The Ethereum network was still struggling with sustaining a improved momentum   Ethereum [ETH] layer-two (L2) protoc" Crypto World Headline Reasons ETH investors can be disappointed despite Ethereum's latest milestone – Crypto World Headline Rj Nov 30 L2 protocols on the Ethereum blockchain reached a monthly all-time high with Optimism and Arbitrum leading the front The Ethereum network was still struggling with sustaining a improved momentum   Ethereum [ETH] layer-two (L2) protocols hit another landmark in proving its 2022 increased adoption as the gas consumption hit a monthly all-time high. This milestone was revealed by Paolo Rebuffo, a senior blockchain advisor and crypto entrepreneur. According to Rebuffo, who hosted a tracking profile on Dune Analytics, the monthly gas usage on the Ethereum chain hit 104 billion at press time. Interestingly, this was the first time that the monthly gas consumption crossed the 100 billion mark. Source: Dune Analytics Read Ethereum's [ETH] Price Prediction 2023-2024 Brace for impact! Based on the data from Dune, the landmark would have been unattainable without the input of certain L2 protocols. This was due to the fact that the consumption as of January 2022 was only 33.26 billion. Furthermore, protocols like Optimism [OP], Arbitrum, and ZkSync only began gaining massive attention after this period.  According to the information on Dune, Optimism led the pack, accounting for almost 50% of the gas used. This was followed by Arbitrum, which dominated the likes of Loopring, DYDX, and Aztec. This meant more transactions passed through the Optimism and Arbitrum network than any other L2 protocol on the Ethereum blockchain. This might not be astonishing, especially as MakerDAO [MKR] lately made moves to integrate Optimism. It was also evident as DeFiLlama showed that both scaling solutions had better value per Total Value Locked (TVL). At press time, OP's TVL was $524.04 million. In Arbitrum's case, the TVL was $933.85 million.  Despite the increase, Ethereum's supply of new coins had remained around the same state as in October. Glassnode data showed that issuance on the ETH network was 17564.93. This represented only a slight increase from the value on 21 November. The implications also inferred that fewer ETH were in circulation as compared to the highs recorded before the Merge. Source: Glassnode However, the smart contract supply on the chain seemed to have maintained stability. Data from Glassnode revealed that the total supply of ETH held in smart contracts was 28.89%. This meant that a sizable number of the self-executing applications had been deployed on the Ethereum blockchain. Source: Glassnode Network in disorder but… While Ethereum might have experienced improved L2 activity, the network prevailed in disarray. As of this writing, Santiment showed that the network growth was 82,100. Although this value was an increment from 27 November, it still signified that the number of new addresses interacting with Ethereum was relatively low. In addition, the stock-to-flow- ratio of 274 meant that the ETH was scarce in supply. Hence, the coming days might not be able to produce an increased circulation of the altcoin. Source: Santiment Source link Comment Unsubscribe to no longer receive posts from Crypto World Headline. Change your email settings at manage subscriptions. Trouble clicking? Copy and paste this URL into your browser: https://www.cryptoworldheadline.com/reasons-eth-investors-can-be-disappointed-despite-ethereums-latest-milestone-crypto-world-headline/ Powered by Jetpack