How ProfitScraper Simplifies Cryptocurrency Arbitrage With AI
Using advanced AI algorithms, ProfitScraper monitors asset prices across various CEXs and DEXs, providing a reliable investment platform for investors. Its ability to identify price inconsistencies and execute quick transactions guarantees consistent profitability.
Moreover, ProfitScraper offers automated trading and advanced risk management features that enable investors to increase their ROI with ease. ProfitScraper’s AI-powered platform offers effortless passive income. With a range of bonus programs, including a guaranteed daily reward of 5.10% for every user, the smart contract calculates profitability from the time of deposit replenishment, resulting in daily top-ups to your account.
Additionally, investors can earn an extra 0.1% for every 100 BNB in total smart contract balance of the platform for higher rewards. Join ProfitScraper today, and profit your way to success with an investment platform that never sleeps.
The ProfitScraper platform incentivizes its users to keep their rewards within their account for an extended time period. This is achieved through a daily earnings increase of 0.05%, which compounds over time to maximize their returns. Additionally, users who hold 10 or more BNB in their balance receive an additional 0.5% per day, which makes it an attractive opportunity for investors seeking to increase their profits.
The platform further rewards its users through a referral program that allows them to earn commissions for referring others to the platform. The more referrals a user makes, the more they can earn. With each level-1 referral, users receive 6% of their deposit amount. As their level-1 referrals make level-2 referrals, users receive 3% of those deposits, further increasing their earnings potential. In essence, ProfitScraper provides a unique opportunity for investors to earn significant profits through holding their funds on the platform and referring others. With daily earnings increases and attractive referral commissions, it is a platform that should be considered by anyone looking to maximize their earnings.
The PrizePool competition by ProfitScraper incentivizes users to invite others to join the platform. The top 10 referrers of the week receive a share of the PrizePool, which is 2% of all investments made on the platform that week. The more referrals a user makes, the higher their chances of winning. This unique feature sets ProfitScraper apart from other investment platforms and highlights its commitment to rewarding users for their efforts. Referring others is a win-win situation for both the referrer and the referred users, who benefit from the innovative investment opportunities offered by ProfitScraper.
Furthermore, the platform’s AI-powered algorithms facilitate automatic arbitrage, increased profitability, and advanced risk management. This, along with bonus programs and 24/7 support, makes ProfitScraper an excellent choice for investors of all experience levels looking to maximize their earnings.
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Bitcoin Is The #1 Cryptocurrency. So Why Isn’t It The Standard For Real-World Utility?
Image Source: DepositPhotos
Decentralized applications such as DeFi and non-fungible tokens, or NFTs, have emerged as the primary focus of the cryptocurrency ecosystem. DeFi is seen as a killer application for blockchain, bringing financial services that go beyond payments to anyone via a peer-to-peer system. NFTs, meanwhile, have numerous use cases, ranging from digital art to fractional ownership of assets.
The growth of DeFi especially is telling. According to CoinMarketCap, the total market capitalization of all DeFi protocols currently stands at over $59 billion.
Bitcoin still leads the way in terms of it being the most valuable cryptocurrency asset, with a current market cap of $453 billion at the time of writing. It was, after all, the world’s original cryptocurrency and is by far and away the most popular. But for all of its market dominance, Bitcoin has been overshadowed by the rise of smart contract blockchains such as Ethereum. This is a direct result of its lack of utility. Bitcoin is a payment network and acts as a store of value, and some see it as a good investment. But that’s about as far as it goes. Ethereum, on the other hand, has numerous use cases besides those, being the foundation of DeFi, NFTs, GameFi, metaverses, and more.
Bitcoin doesn’t support any of those applications. Those who want to trade Bitcoin are forced to do so on centralized cryptocurrency exchanges. There’s no using BTC in the hundreds of DeFi applications that have emerged over the past few years. So BTC cannot be used as a form of collateral to borrow another digital asset, nor can it be “staked” for passive income.
As a result of its lack of utility, Bitcoin has effectively lost its crown as the king of crypto, at least when it comes to anything but payments.
What’s Behind Bitcoin’s Lack Of Utility?
Bitcoin’s alienation from the world of DeFi and NFTs is due to its underlying infrastructure. DeFi apps require smart contracts to function, and the various digital assets available to buy, sell, swap and stake on different DeFi platforms all share a common infrastructure, namely Ethereum or another smart contract blockchain.
Smart contracts are coded agreements that are programmed to self-execute when certain conditions have been met, meaning no intermediary is required. That’s what makes DeFi decentralized. But Bitcoin’s underlying blockchain network, at its inception, did not support smart contracts.
It’s this lack of support that enabled Ethereum to emerge as the world’s number one DeFi and NFT chain. Ethereum, unlike Bitcoin, was designed expressly for this purpose, as a platform to host decentralized applications built by its community of developers.
Ethereum, therefore, had a first-mover advantage, and around 70% of the digital assets listed on cryptocurrency exchanges today are hosted on its blockchain. These tokens are all based on the ERC-20 standard designed by the Ethereum community, and share the same infrastructure.
Making Bitcoin Smarter
Ethereum still maintains a solid grip on the DeFi and NFT landscape even with the rise of dozens of more efficient competing smart contract chains like BNB Chain, Avalanche, Solana, Tezos, and Tron. Despite being faster at processing transactions, none of these new platforms has come close to threatening Ethereum’s crown so far. But a number of recent developments could well see Bitcoin emerge as its biggest rival.
In late 2021, Bitcoin underwent a major upgrade known as “Taproot” that made it possible for its underlying infrastructure to support smart contracts at last. Bitcoin smart contracts are, to all intents and purposes, the same as those on Ethereum in that they execute automatically once specified conditions are met, and their transactions are irreversible.
Bitcoin smart contract support is enabled through its programming language, called Script. Using Script, developers can establish predetermined conditions that must be met for a transaction to proceed. Users must satisfy those conditions to unlock their BTC and have them processed on its blockchain.
With the Taproot upgrade, Bitcoin now supports a range of smart contracts including the Pay-to-Public Hash, which makes it possible for BTC to be sent to a specified address on the condition that it can only be accessed by the owner of the private key. It also supports multi-signature scripts, which are smart contracts that can only unlock the BTC sent by a user once a number of public key holders authorize it. Time-Locked Bitcoin Transactions are also available, making it possible for BTC transactions to be scheduled or time-locked.
Expanding Bitcoin’s Utility
A number of projects have emerged that aim to take advantage of Bitcoin’s new capabilities, including Mintlayer, which is a sidechain that aims to build an ecosystem of Bitcoin-native DeFi dApps, NFTs, stablecoins, and tokenized assets that inherit its industry-leading security.
Mintlayer takes advantage of Script to enable non-Turing complete smart contracts on Bitcoin. They’re a bit different from the Turing-complete smart contracts on Ethereum. Turing-complete enables the system to process complex rule sets of data manipulation, meaning developers have almost infinite possibilities when it comes to creating smart contracts. Mintlayer’s non-Turing-Complete smart contracts, on the other hand, sacrifice some versatility but their reduced complexity means they’re less vulnerable to code exploits and can be processed faster.
This is important because, for all its dominance, Ethereum’s DeFi scene is one that’s incredibly risky. Ethereum’s DeFi history is one that’s littered with numerous stories of hacks, occurring on an almost weekly basis. Ethereum’s blockchain also still struggles with heavy congestion at times – even after undergoing a major upgrade last year. Mintlayer’s approach could be a solution to both issues. Its Script-based smart contracts result in less congestion of the network as they can execute more quickly. Meanwhile, the lower complexity means there is less chance that developers might make a mistake and leave vulnerabilities in their code.
Mintlayer’s primary goal is to make it possible for users to mint all kinds of tokenized assets on the Bitcoin blockchain through a new MLS 01 standard. So we could have tokenized stocks, stablecoins, bonds, asset-backed tokens, and more. These would all be issued on the Bitcoin blockchain, secured by the crypto industry’s most decentralized chain. Mintlayer has also created the MLS 02 for privacy-based tokens (which carry higher transaction fees), and the MLS 03 standard for NFTs.
In this way, Bitcoin has acquired the same level of utility as Ethereum, together with the prospect of increased security. Bitcoin can now handle DeFi, NFTs, GameFi, metaverses, and more, and users’ funds will likely be safer too.
Transaction speed remains an issue for Bitcoin despite its smart contracts being able to execute faster, simply because Bitcoin itself is notoriously slow. It’s only able to handle between 7 and 14 transactions per second. However, Mintlayer is looking to solve this as well, by bringing its Script-based smart contracts to the Lightning Network, a Layer-2 scaling solution for Bitcoin that enables micropayments to be completed in just seconds.
So Bitcoin has the smart contracts, it has the security and it also has the edge in terms of transaction speeds. All that’s left now is for the community to build out Bitcoin’s DeFi and NFT ecosystems. When that happens, Bitcoin will have the functional ecosystem it requires to fully wrest its crown back from Ethereum and return to its rightful throne as the king of crypto.
Investors Shall Soon Exit Fiat System, Flock To Cryptocurrency: Gareth Soloway
Gareth Soloway, a veteran trader, recently shared his insights on the current state of the cryptocurrency market and the stock market with Altcoin Daily. The interview covered Soloway’s predictions for Bitcoin, Ethereum, and the stock market amidst the current financial turmoil.
Bullish on Bitcoin and Ethereum
Soloway is optimistic about the future of Bitcoin and Ethereum, as both cryptocurrencies continue to see a surge in their values. According to Soloway, this surge indicates that there is a growing trust in these currencies, resulting in increased investments in the financial system.
Exit from the Fiat System
The recent financial turmoil has led investors to seek alternative investment options, with cryptocurrencies being popular. Soloway believes that the decision to exit the fiat system is conscious by investors seeking a more stable investment option.
Federal Reserve Meeting
The Federal Reserve meeting is expected to result in a 25 basis point hike, which Soloway believes will save face for the Fed. He predicts that after the hike, investors will turn towards cryptocurrencies even more, resulting in a further increase in their prices.
Recession Imminent
Soloway predicts that the stock market is headed for a recession due to the current financial turmoil. The recession will lead to decreased spending and earnings per share for stocks, resulting in a substantial decline in valuations in the next 12 months.
Crypto Market Predictions
Soloway predicts that Bitcoin will reach $100,000 by the end of 2022, and Ethereum will reach $10,000 by the end of this year. He believes that Ethereum’s potential to outperform Bitcoin lies in its applications in decentralized finance (DeFi), non-fungible tokens (NFTs), and other areas.
At press time, BTC was worth $28,428 and Ethereum was worth $1,793.
Breaking: Europol’s $46M Seizure Unveils Dark Web’s Largest Cryptocurrency Laundromat Washed Out with $2.88B Allegedly Laundered
The rise of cryptocurrency has brought about a new era of financial freedom and decentralization, but it has also given rise to a new form of crime: money laundering on the dark web. Criminals are increasingly turning to cryptocurrencies to launder their ill-gotten gains, and law enforcement agencies are struggling to keep up. In a major crackdown on money laundering on the dark web, Europol has seized $46 million in cryptocurrency from one of the largest cryptocurrency laundering services.
One Of The Largest Cryptocurrency Laundromats
A joint effort by German and US authorities, with the support of Europol, has resulted in the targeting of ChipMixer, a notorious cryptocurrency mixer within the cybercriminal community. This investigation was also backed by authorities from Belgium, Poland, and Switzerland.
On March 15th, national authorities dismantled the platform’s infrastructure due to its suspected involvement in money laundering activities. In the operation, four servers were seized, and approximately 1909.4 Bitcoins from 55 transactions (equivalent to approximately EUR 44.2 million) and 7 TB of data were confiscated.
In mid-2017, ChipMixer, an unlicensed cryptocurrency mixer, emerged as a platform that specialized in obfuscating or severing trails associated with virtual currency assets. Cybercriminals found the ChipMixer software to be alluring, as it blocked the blockchain trail of funds, making it easier to launder illegal proceeds from criminal activities such as drug trafficking, weapons trafficking, ransomware attacks, and payment card fraud.
Upon deposit, the funds were converted into “chips,” which were small tokens with the equivalent value. These chips were then mixed together, effectively anonymizing all traces back to their initial source.
Record-breaking EUR 2.73 Billion in Crypto Assets Laundered through Ingenious “Chip” Method
Following the investigation into a criminal service, it has been revealed that the platform may have played a significant role in laundering approximately 152,000 Bitcoins, which is estimated to be worth around EUR 2.73 billion at present. This huge sum of money is believed to be linked to illegal activities such as the sale of illicit goods on dark web markets, ransomware attacks, procurement of child sexual exploitation material, and stolen cryptocurrency assets. The takedown of the Hydra Market dark web platform led to the discovery of millions of euros worth of transactions.
The ChipMixer service has also been utilized by ransomware groups like Zeppelin, SunCrypt, Mamba, Dharma, and Lockbit to launder ransom payments. Furthermore, authorities are currently investigating whether some of the cryptocurrency assets that were stolen after the bankruptcy of a major crypto exchange in 2022 were laundered through the same service.
The coordination of the operation was facilitated by Europol, which played a crucial role in exchanging information between national authorities. Europol also provided analytical support, linking available data to various criminal cases both within and outside the EU. In addition, the investigation was aided by operational analysis, cryptocurrency tracing, and forensic analysis, all of which were provided by Europol.
The Joint Cybercrime Action Taskforce (J-CAT) at Europol also provided support for the operation. This task force is a standing operational team that consists of cybercrime liaison officers from various countries who work on high-profile cybercrime investigations.
The rise of money laundering on the dark web with cryptocurrencies is a major challenge for law enforcement agencies around the world. The anonymity and decentralization of cryptocurrencies make it difficult for them to track and prosecute criminals, and the use of cryptocurrency mixers and tumblers only exacerbates the problem.
However, there are some steps that can be taken to combat this problem. Law enforcement agencies can work to increase their knowledge of cryptocurrencies and the dark web and develop new technologies and strategies to track and prosecute criminals. Governments can also work to regulate and oversee cryptocurrency exchanges and other services in order to prevent them from being used for illicit activities.
The rise of money laundering on the dark web with cryptocurrencies is a complex and evolving problem, but it is one that must be addressed if we are to effectively combat crime in the digital age. It will require a concerted effort from governments, law enforcement agencies, and the cryptocurrency industry to work together to find solutions and prevent the misuse of cryptocurrencies for illicit activities.
Tether Fights Back as It Accuses WSJ of Biased Reporting and Ignoring Real Culprits in Cryptocurrency Industry
The battle between Tether, one of the largest stablecoins in the cryptocurrency market, and the Wall Street Journal (WSJ) has been long and arduous. Tether has been fighting against what it claims is biased and misleading coverage by the WSJ for years, sending the tension to a boiling point. In its latest statement, Tether slammed the WSJ for what it sees as biased reporting and failure to target the “right culprits” in the cryptocurrency industry. This comes after years of allegations and accusations from both sides, with Tether denying claims of artificially inflating the price of Bitcoin and the WSJ questioning the legitimacy of Tether’s backing of USDT tokens.
Tether Becomes Target of Outdated and Misleading Coverage
Tether, the issuer of the USDT stablecoin, has strongly criticized the Wall Street Journal (WSJ) and other traditional media outlets for their negative coverage of the company while simultaneously promoting other cryptocurrency firms that have ended up as some of the biggest financial failures in history.
This scathing attack comes just two days after Silvergate Bank, another high-profile crypto-related company, suffered a significant downturn due to the current crypto winter. Tether’s condemnation of the WSJ highlights the ongoing tension between the stablecoin issuer and the media, with both sides trading accusations and denials over the years.
In a blog post published today, Tether accused the Wall Street Journal of publishing “outdated, inaccurate, and misleading” reports about the blockchain firm. Tether’s post also refuted a recent WSJ article that claimed the company’s operations were not in compliance with US regulations. Tether wrote,
“This conflicts with the reality that Tether operates under substantial financial regulations and cooperates on a near-daily basis with global law enforcement. This includes regular cooperation with the U.S. Department of Justice and other top tier US agencies, while not servicing US-based customers.”
WSJ Published 84 Negative Reports on Tether
Tether has accused the Wall Street Journal of unfairly targeting the Hong Kong-based blockchain firm, claiming that the popular news outlet has a history of “rarely focusing on the right targets” in the crypto industry. Tether pointed to several high-profile crypto firms that have collapsed in recent months, including FTX, Genesis, and Celsius Network, as examples of companies that the WSJ should have been investigating instead.
Tether noted that 84 articles about or mentioning the company in the WSJ from Jan. 1, 2021, to Jan. 1, 2022, are negative. In contrast, Tether said that the WSJ had issued 28 reports about or mentioning FTX, with “almost all of them positive.”
Amidst the current turmoil in both the crypto and stock markets, Tether has released the blog post, coinciding with the liquidation of Silvergate and the collapse of Silicon Valley Bank (SBV) stocks.
The latest blow to the crypto industry with Silvergate’s liquidation further supports Tether’s claims. Tether, which has been subject to intense scrutiny in recent years regarding its solvency and transparency, has weathered significant downturns in the cryptocurrency market. Despite criticism, its USDT stablecoin continues to remain one of the largest cryptocurrencies by market cap.
Ethereum Set to Surpass Bitcoin as the World’s Leading Cryptocurrency, According to Raoul Pal
Raoul Pal, CEO of Real Vision, believes that rather than seeing cryptocurrencies as assets, investors should see them as digital nations. In a recent blog post, the former Goldman Sachs executive claimed that crypto ecosystems are networks that create both intrinsic and extrinsic value. He argues that the foundation of the Bitcoin (BTC) network is the idea that BTC is an autonomous monetary system free from the corrupting influence of governments.
Pal said that it fiercely defends the integrity of the protocol of how its society operates and, as a result, avoids innovation in the interest of preserving purity. He cited an example of the Bitcoin market as the Catholic Church during the Middle Ages or the gold-bug subculture. In the Bitcoin economy, Bitcoin is the lone asset that exists. Hence, the only option one has if you want to invest money in this market is to HODL (hold on for dear life) Bitcoin.
In comparison, according to Pal, the Ethereum (ETH) network is more like the intricate American economy. In this system, one can begin by buying ETH, which has a deflationary supply, or an amount that gets lesser with time. Since value must be maintained and not debased, its ‘central bank’ (the staking) follows prudent monetary policy.
Pal points out that staking ETH is comparable to buying US Government bonds, whereas decentralized finance (DeFi) can be compared to the riskier banking industry. He forecasts that over time, the Ethereum economy will grow to be larger than the Bitcoin economy due to its higher level of complexity. Pal also contrasts the economics of XRP and Ethereum rival Solana (SOL) with those of their respective home countries.
“Solana on the other hand might be South Korea just after the Asian crisis when its currency and equity market came crashing down. It was an unmatched opportunity that outperformed both the USD and SPX for six years. However, it did not stand the test of time. It failed to continue the outperformance. Who knows how Solana will play out.”
Why The Future Of Cryptocurrency Is Looking Bullish With TMS Network (TMSN) Optimism(OP) And STEPN (GMT)
While 2022 was not the best year for cryptocurrencies, with most losing more than two-thirds of their value, 2023 is expected to be a year of a comeback and exceptional growth in the ecosystem. Finding profitable cryptocurrency projects can be difficult for many investors. This article will discuss TMS Network (TMSN), Optimism (OP), and Stepn (GMT), three cryptos with the potential to explode in 2023. TMS Network is expected to grow by 1000%.
TMS Network (TMSN): Transforming Trading
TMS Network (TMSN) is a novel DeFi-focused platform that aims to solve problems in the trading industry. TMS Network (TMSN) addresses major trading issues such as high trading fees, price manipulation, wash trading, limited tradeable asset classes, and platform insecurity.
TMS Network (TMSN) stands out from the competition by allowing traders access to a wider range of asset classes, including cryptocurrency, equities, forex, and CFDs. It also features cutting-edge risk management tools and a wealth of educational materials.
To address the issues that centralized platforms face, TMS Network (TMSN) utilizes decentralized technology to allow traders to reclaim control of their assets and trade with complete autonomy. The broader blockchain technology helps differentiate TMS Network (TMSN) from traditional trading platforms by improving trading security, transparency, and efficiency.
On-chain analytics tools, portfolio management applications, trading bots, social trading, and trading signals are some of TMS Network’s (TMSN) key features for a more efficient trading experience. These tools help traders manage risk and make informed trading decisions.
Furthermore, unlike most trading platforms that limit traders to only crypto or crypto-related assets, TMS Network (TMSN) allows crypto-to-fiat trading.
Optimism (OP): scaling Ethereum
Optimism (OP) is a popular layer-2 scaling chain built on the Ethereum network. Layer-2 scaling chains are platforms designed to provide fast and cheap blockchain transactions by adding an extra layer to a layer-1 chain, such as Ethereum, where transactions can be processed.
Despite being relatively new, Optimism (OP) has quickly captured the attention of developers and investors alike. Optimism (OP) has been one of the best-performing crypto assets in 2023, soaring roughly 200% YTD at one point. Analysts believe Optimism (OP) will continue to perform exceptionally well due to the network’s integration with dozens of DeFi protocols. Optimism is home to some of the most popular decentralized solutions, such as Synthetix (SNX).
Furthermore, Coinbase recently announced that it will launch its own Layer-2 chain for Ethereum based on Optimism technology. Optimism has also benefited from increased on-chain activity, which indicates that investors are pouring into the network. This could cause Optimism (OP) to surpass its all-time high in 2023.
STEPN (GMT): Driving Blockchain Adoption Among Fitness Enthusiasts
STEPN (GMT) is a lifestyle app that rewards users with cryptocurrency for running, walking, or jogging. STEPN (GMT) is a market pioneer, having been the first platform to integrate the move-2-earn concept. As more people enter the cryptoverse in 2023, STEPN (GMT) will most likely gain popularity, particularly among fitness enthusiasts who enjoy walking and running. STEPN (GMT) finished fourth at the 2021 Solana Ignition Hackathon, solidifying its position as an innovative blockchain network. STEPN (GMT) aims to inspire millions of users worldwide to live a healthier lifestyle and avoid driving high-emission vehicles.
$TMSN Presale Campaign
TMS Network (TMSN) recently finished the first phase of its four-phased presale campaign. This round’s success raised over $500,000 in the first two weeks. The $TMSN token presale price also increased to $0.025. This price will rise further as more investors join in. Early investors will see over 1000% return on investments when the token goes live. Take advantage of this low price and buy $TMSN today by joining the network’s presale.
For more information on TMS Network (TMSN), please see the links below:
Presale | Telegram | Discord | Twitter
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Bitcoin Miners Signal Bearish Trend: What’s in Store for Cryptocurrency Investors?
As the monthly close ushers in a new week of market movement, Bitcoin continued to strive for a bullish conclusion to February. As the second month of 2023 came to an end, the largest cryptocurrency held onto its gains, sustaining the optimism of bulls. It might be decision time for a crucial region of Bitcoin price activity around $25,000 in the upcoming week.
Recently, the value of bitcoin has increased, and the mood of the market is improving. A crucial group in the bitcoin market, the miners, haven’t yet demonstrated any bullish behavior, though.
The miner reserve statistic, which gauges how much bitcoin miners have in their wallets, is shown in the chart below. If this pattern holds, the market may become oversupplied due to the selling pressure, which would result in another drop in price.
Amid the ongoing price predictions for Bitcoin, it was reported that BTC miners are moving their reserves to exchanges. Up to the next recalculation, mining profitability rises when the price of bitcoin rises. Profitability is uncertain because it depends on the asset’s price.
It was earlier observed that miners have demonstrated a high faith in operational effectiveness and a future rise in the price of bitcoin. But data suggests otherwise. According to the statistics, Bitcoin miners have started to decrease their reserves in the wake of the recent price increase. 400 Bitcoin or so have lately been sent to exchanges by miners.
According to the data, from February 24, 2023, total miner reserves have decreased by 1400 Bitcoin. The whales are awaiting a sell-off in this area. Exchange Whale Ratio (72 hours) is above 0.85 according to on-chain data. While the daily exchange Whale Ratio is more than 0.6.
As reported by Glassnode, there are now 2,005 addresses holding more than 1,000 Bitcoin, a three-year low. Addresses with more than 100 Bitcoin have recently fallen to a 1-month low of 16,043. The BTC percentage supply, however, attained an ATH of 28.28% after being inactive for more than 5 years.
Tel Aviv Stock Exchange Looks to the Future with Cryptocurrency Trading License Application
The Tel Aviv Stock Exchange (TASE) is seeking approval from regulators to facilitate crypto trading on its platform. This move comes after last year’s decision by Israeli banking institutions, like Bank Leumi, to offer crypto trading facilities in agreement with Paxos. The draft for public comments published on Monday, February 27, seeks to expand the authorized activities of Non-Banking Members (NBMs) to include trading in cryptocurrency.
Regulation is Needed
The cryptocurrency market has experienced turmoils over the past year, bringing material changes in crypto activity as more regulated institutions take part in this activity.
The turmoils emphasize the need for regulation in this sector, in view of the rapid development of the cryptocurrency sector over the recent years and the greater involvement of customers in this sector.
As a result, there is a growing demand from customers to transfer money originating from this activity into their accounts. This requires regulation that will mitigate the various risks (operational, legal, cyber, and other) that are inherent in the crypto activity.
Proposed Structure
The proposed structure will enable customers to deposit money (Fiat money) designated for investment in cryptocurrency and withdraw monies originating from those currencies.
The NBM will contact two functions – the first, a licensed provider of cryptocurrency trading services, and the second, a licensed provider of custodial services for those currencies.
In order to purchase cryptocurrency, the customer will deposit monies in traditional currency (NIS or foreign currency) (Fiat money) that will be deposited in an omnibus account of the NBM with the provider of the trading services.
Upon receiving an order to buy virtual assets from the customer, the purchase will be executed using the money deposited in the omnibus account and recorded in the customer’s account with the NBM.
When the customer gives the order to sell crypto, the provider of trading services will sell the coins and credit the NBM’s omnibus account by the amount of consideration received, and the consideration will be transferred into the customer’s account with the NBM.
Regulatory Approach
The report, “Regulation of the Digital Assets Sector – Roadmap to a Policy,” published by the Chief Economist in the Ministry of Finance last November, indicates that the current regulatory approach in Israel, and in certain other countries, is to impose regulation on financial activities or services in digital assets similar to that currently applied to non-digital assets, taking into consideration the non-traditional and unique characteristics of this sector.
Could Collateral Network (COLT) be the next big thing in cryptocurrency? Experts weigh in on its potential to surpass Bitcoin and Filecoin
Cryptocurrencies have been gaining more and more attention in recent years, with the most well-known being Bitcoin (BTC) and Filecoin (FIL). However, there is a new player on the scene that is starting to make waves: Collateral Network (COLT). In this article, we will take a closer look at Collateral Network (COLT) and why it is forecasted for 3500% gains over its presale, as well as what sets it apart from Bitcoin (BTC) and Filecoin (FIL).
Bitcoin’s (BTC) price volatility is a risk for long-term holders
While Bitcoin (BTC) has long been the king of cryptocurrency, it has faced a number of challenges in recent years. One of the most significant issues is scalability, as the network has struggled to process a high volume of transactions due to its limited capacity. This has led to high fees and long confirmation times, which can be frustrating for users.
Additionally, the energy consumption required to power the Bitcoin (BTC) network has come under scrutiny, with some experts arguing that it is not sustainable in the long term. Finally, Bitcoin’s (BTC) price has been highly volatile, with significant fluctuations over the years.
While this can be attractive for speculators looking to make a quick profit, it can also be risky for those who are looking to hold onto their Bitcoin (BTC) for a long term. Since its peak in 2021, Bitcoin (BTC) has seen a significant drop in value, losing more than 70%. At its highest, BTC was valued at over $68,000.
High cost of storage is a concern for Filecoin (FIL) users
Filecoin (FIL) is a decentralized storage network that allows users to buy and sell storage space using the Filecoin (FIL) token. While it has gained significant attention and adoption, it has also faced a number of challenges. One of the biggest issues for Filecoin (FIL) is the high cost of storage.
To participate in the network, users must purchase a certain amount of storage space, which can be expensive. This can be a barrier for those who are looking to use the network for small amounts of data. Another concern is the complex nature of the Filecoin (FIL) network, which can be difficult for non-technical users to understand. This can be a problem for those looking to use the network, but aren’t familiar with the underlying technology. The live price of Filecoin is $5.74.
Collateral Network (COLT) introduces NFT based crowdlending
So, what makes Collateral Network (COLT) different from Bitcoin (BTC) and Filecoin (FIL)?
As a new challenger lending platform, Collateral Network (COLT) is revolutionary in that it allows individuals to unlock cash from their assets on the blockchain through the use of fractionalized NFTs. This allows investors to become their own banks whilst earning a fixed interest rate.
Additionally, Collateral Network (COLT) offers a number of benefits to both borrowers and investors. For borrowers, the platform offers a fast turnaround time, with cash being available within 24 hours. Collateral Network (COLT) is transparent, with all contractual information stored in the metadata of the NFT, which is recorded on the public blockchain, and cannot be altered or changed. Collateral Network (COLT) has implemented a token lock-up period for its team tokens, which will last for three years. Additionally, the liquidity pool for COLT tokens is locked for 33 years.
Currently, the starting price for (COLT) tokens is $0.01, and some analysts are predicting a significant price increase of 35 times within the next six months. Out of the total supply of 1.4 billion Collateral Network (COLT) tokens, only 50% will be available for presale.
Find out more about the Collateral Network presale here:
Website: https://www.collateralnetwork.io/
Telegram: https://t.me/collateralnwk
Twitter: https://twitter.com/Collateralnwk
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How to Use Cryptocurrency in Online Crypto Casinos
Bitcoin and other cryptocurrencies have seen tremendous growth, and its promise as a global payment system is now beginning to catch on. As a result of their rising profile, numerous online marketplaces now accept cryptocurrency payments.
Online casinos are one of the most advanced examples of businesses that have embraced cryptocurrencies. Despite the growing popularity of online Bitcoin casinos,” many prospective punters remain confused about how they may place wagers using virtual money like Bitcoin. In this article, you’ll find the answers to any concerns about betting with Bitcoin. Also you get to see how to play at sites discussed in this guide
What is a Crypto Casino?
A “crypto casino” is an online gambling establishment that accepts cryptocurrency payments freely. In these online crypto casinos, players deposit Bitcoins into their casino accounts in order to wager on games.
Betting with digital currency is one of the safest options since it gives users privacy and complete control. You may find several online crypto casinos that adhere to the same standards as normal casinos.
How to Use Cryptocurrency in an Online Casino
Online Bitcoin casinos provide the full selection of games found at traditional online casinos. Here are the procedures you must take if you want to use cryptocurrency in an online casino:
Get Crypto Wallet
Make sure you have a place to keep your Bitcoin or other cryptocurrencies before you acquire it. A cryptocurrency wallet is a secure location to keep your Bitcoin that any unauthorized parties can’t access. Mobile wallets may be downloaded from your phone’s app store, while desktop wallets can be accessed using a web browser.
Using a private key, you are able to access your wallet. Keep this to yourself; it’s confidential. If someone does not know your private key and seed phrase, they cannot access your wallet or make any changes to it.
Pick a Cryptocurrency
You must first make a monetary deposit in a kind of digital currency supported by the site you intend to play on. Bitcoin and Ethereum are two of the most popular cryptocurrencies; thus, you may wager with them at most online Bitcoin casinos.
Transfer to Your Casino Account
Your newly purchased crypto coins may immediately be deposited into your account at a Bitcoin-based gaming website. This allows you to play for as long as your initial investment lasts. Similarly, after receiving a payout, you can do so using your cryptocurrency wallet before exchanging the funds for fiat currency.
Withdraw Your Winnings
The most enjoyable aspect of every game is winning and collecting your prizes. You can’t spend your money until you go through the withdrawal process once you win. When playing at online Bitcoin casinos, you may expect to receive help from the site itself to withdraw.
The first step is sending the money to your cryptocurrency wallet. Whatever you decide to do with them from here on out is entirely up to you.
After the funds are converted into fiat currency, they may be deposited into your bank account. You may use your Bitcoins to buy things online or play at online Bitcoin casinos for longer. You are now prepared to dive headfirst into the exciting world of Bitcoin gaming.
Benefits of Betting With Cryptocurrency
There are a number of advantages to using Bitcoin for a gaming site. Here are the top reasons why online casinos should accept Bitcoin as a payment method.
Security
Depositing funds into an online gaming account using cryptocurrencies is a major perk because it’s completely risk-free for gamers. The reason for this is the widespread adoption of blockchain technology by online Bitcoin casinos. This ensures the complete openness, traceability, and irreversibility of all exchanges.
Furthermore, the blockchain is a decentralized, open-source ledger that any central authority cannot control. Consequently, players can trust that their money is secure at these online Bitcoin casinos as only they have access to it.
Anonymity
The cryptocurrency gaming market has grown quickly in recent years. There’s a growing need for sites that let you play with cryptocurrency. Most individuals are interested in taking advantage of this convenient and secure type of online gambling.
The anonymity offered by a cryptocurrency gaming site is a major selling point. You are under no obligation to disclose private information or financial particulars.
Depositing funds into your account couldn’t be easier, provided you have access to the internet and some kind of cryptocurrency. In fact, you have the option of being completely anonymous when placing your wagers.
No Restriction
You may participate in the casino from any location in the world. Online Bitcoin gambling is not restricted to any certain jurisdiction or location. This paves the way for convenient access to a variety of online casino games at any time and from any location.
Betting with cryptocurrencies also has the advantage of being extremely convenient. Since there is no need to handle cash, there are no withdrawal limits or associated costs. You can play immediately without having to wait for a deposit.
Bonuses
Most respectable online Bitcoin casinos are prepared to provide their consumers with a one-of-a-kind Bitcoin gaming experience. The best Bitcoin and cryptocurrency gambling sites prioritize providing their players with a fun and rewarding Bitcoin betting experience.
When a player makes a successful crypto deposit, some sites even give them a bonus of their own cryptocurrency. However, there are online Bitcoin casinos that provide speedier transactions and reduced costs to crypto gamers. The goal is to provide crypto gamblers with a really unique and memorable experience.
Instant Transactions
Withdrawals processed in traditional currencies take anywhere from several hours to seven days. However, cryptocurrency withdrawals are processed instantly.
When utilizing a method like a bank account, you’ll often be asked to provide identification details before playing. For this reason, using Bitcoin for gambling is completely anonymous.
Conclusion
Evidently, this whole guide provides adequate details on Bitcoin gaming. Players may benefit greatly from the increased safety, privacy, and speed of transactions offered by blockchain-based gambling sites.
Lastly, be careful when placing online wagers with your cryptocurrency. As with any kind of gambling, only risk money that you can afford to lose. If you stick to this rule, crypto gaming will become a thrilling hobby.
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Coinbase in the Crosshairs: SEC Set to Strike Next in Cryptocurrency Crackdown
Coinbase, one of the largest cryptocurrency exchanges in the world, is currently facing an SEC investigation into its staking program. A staking program is an earning program that allows users to earn rewards for holding certain cryptocurrencies on the exchange.
The investigation comes in the wake of a similar case involving the Kraken exchange, which settled with the SEC for $30 million and also banned its staking services from the U.S.
In response to the investigation, Coinbase’s chief legal officer, Paul Grewal, has emphasized that their staking services are different from those offered by Kraken. He states that Coinbase’s users retain ownership of their cryptocurrency at all times, and Coinbase acts as an intermediary.
Another difference is that Coinbase’s financial operations are transparent, as the company is publicly listed. Grewal has stated that the SEC needs to make clear distinctions in its policies rather than taking matters to the court at the end moment to clarify regulatory policies to companies and the general public.
SEC chair Gary Gensler has called on firms to register their products with the regulator, a move that Coinbase is reportedly willing to comply with for applicable products. However, the netizens are expressing frustration with the SEC, arguing that stricter regulations are doing more harm than good for investors.
Coinbase CEO, Brian Armstrong, has stated that he is willing to take the matter to court if necessary. The SEC’s investigation into Coinbase’s staking program comes amid growing regulatory scrutiny of the cryptocurrency industry. As the industry continues to evolve and mature, it is likely that regulators will continue to grapple with how best to balance innovation and investor protection.
Brian also stated that there is a risk that the United States may lose its position as a financial hub in the long term due to the lack of clear regulations on cryptocurrencies and a hostile regulatory environment. To prevent this, Congress should act soon to pass clear legislation. Meanwhile, other countries like the EU, the UK, and Hong Kong are leading the way in cryptocurrency regulation.
The Next-Generation Cryptocurrency Revolutionizing Environmental, Social and Governance (ESG) Obligations
The founders believe that by creating value and generating real-world demand from businesses, Erth Points will be one of the only Cryptos to survive the big Crypto crash. The same crash changed the dot-com Internet share market world forever.
Erth Points Crypto is the next-generation Crypto in a league of its own; it’s a Clykto-Currency with more utility and productive worldwide applications than all other Cryptos combined. It has completed multiple test projects and is on the cusp of taking its home country of Australia and then the world, and it is helping to save the world. Does this sound impossible? You be the judge.
The Erth Points system enables a portion of each purchase from potentially every business worldwide to satisfy the business’s ESG (Environmental, Social, Governance) obligations. Sending micropayments to the customer as a reward point, supporting the community, repairing environmental damage, or, to put it another way, saving the Planet while benefiting all parties, including the business and the customer.
Just living causes environmental damage, and we can either wait till governments impose a carbon or environmental tax on us or solve the problem using next-generation Crypto Erth Points.
Businesses already spend hundreds of Billions on satisfying their ESG obligations, plus much more on marketing and advertising. Erth combines solving ESG with Rewards Points, which act like a reusable Click for the patented marketing and loyalty system. Erth Points are a hybrid of a Blockchain Click, a reward point, and an ESG solution, all trading as a Crypto-Currency.
If used for their intended purpose, Erth points should be tax deductible for businesses; they also have a legal opinion that they are not a security in the USA as per SEC legislation, which puts them in an elite club with only BTC and ETH. Erth Points trades on 4 Crypto exchanges and is part of a solid business model that is not dependent on FOMO and speculators, a first for Crypto.
Users of the Erth Point system come from Clubs, Charities, Churches, and Not-for-Profits (CCCs) environmental supporters or any customer who wants to share in the revenue, making the system a very effective monetizing loyalty.
It’s triple the points. From every purchase, the customer earns Erth Points, the customer’s nominated CCC earns Erth Points, and the Planet earns Erth Points. Erth Points are the next evolutionary step for cryptographic technologies. They can be the motivation, or at least be part of that motivation, for all consumer and commercial transactions across the globe.
The reason why gold and diamond markets have been around for so long is the exact reason why Erth Points will be around for a long time, something almost no cryptos have, end users.
In the same way, an engagement ring removes diamonds from the diamond exchange market, and Erth Points customers remove Erth Points from the crypto exchange market. This allows Erth Points to be spent in the reward point system at any business that accepts them or on gift cards at eBay, Apple, and thousands of other businesses that accept ErthPay gift cards.
Demand for Erth Points is proportional to the total number of transactions that take place, which means the more Erth Points earned, the higher the demand and the higher the price can go. Like all Cryptos, the price can also go down. But like diamonds and gold, there should always be a business that needs to buy them because a customer wants them. Most Cryptos do not have a use, have no dividend, and do nothing. Therefore they have no limit to how far they can crash in price. Whereas shares have dividends and underlying assets, so they may crash, but they should always have a lower limit, and they should recover, Crypto like Bitcoin does not have that safety net.
The demand for Erth is projected to expand at a rate comparable to an exponential growth curve as many companies adopt the system because of all the benefits Erth Points bring.
Are Erth Points the biggest threat ever to Bitcoin’s dominance?
Delivering value to businesses and customers while supporting CCCs and helping to save the Planet is the driving force that could cause Erth Points to overtake Bitcoin as the most important cryptocurrency in the world. Erth Points is the only product that could be used in every purchase from every business in the world, not just crypto, but any financial services product. That’s a game-changer!
If all 3 billion Facebook users collected Erth Points, more than $6 billion per week would go towards repairing environmental damage, enabling Erth Points to fund an army of eco-warriors and projects to help save the Planet. Imagine how much could be accomplished. Plus, $6 billion would also go to CCCs every week and the same to customers who can spend the Erth back at the businesses, creating a perfect economic ecosystem.
For instance, if a Supporter spent money at a Business in New York that is a part of the Erth Points REACTS (Rewards4Earth Automatic Card Transaction System), they would send Erth Point back to support their child’s netball club in Fiji or anywhere in the world.
Supporters could Nominate Bono’s feed the children program, and Erth Points are automatically sent to a child in Somalia so they could buy food within seconds. This scenario is just one example of how the Erth Points system can work.
Erth Points can be earned where the average person spends the majority of their money each week (In Australia, other Businesses will be added per country), such as purchasing food and groceries from Coles or Woolworths, fuel for their car from Caltex or Ampol, hardware from Bunnings, and phone time from Optus or Vodafone either directly where the business is part of the REACTS system or by purchasing Erth Pay gift cards.
Hotels, car parts, restaurants, and many more businesses now help save the environment through Erth Points, awarded for every purchase, creating demand for Crypto from every transaction and putting it into the pockets of potentially every person on the Planet.
Senate Seeks Clarity on Cryptocurrency Regulations in ‘Crypto Cash’ Hearing
On 14 Feb, the Senate Banking Committee held a hearing to discuss the recent “crypto crash” and proposed new regulatory safeguards for the cryptocurrency industry. Skeptical members of the committee heard from both crypto enthusiasts and evangelists in an effort to understand the failures that have plagued the industry in the past year, including the Terra (LUNA) debacle.
The hearing addressed concerns about the risk of fraudulent behavior, scams, and illegal activity related to cryptocurrency. Sen. Sherrod Brown, the committee’s chairman, expressed worry that cryptocurrency could be used for illegal operations like drug trafficking and human trafficking. He also reiterated concerns expressed by governments and central banks a decade ago.
Sen. Tim Scott, the ranking member of the committee, opened the hearing by stating that they needed to hear from the SEC Chair Gary Gensler directly to understand recent regulatory actions. He also hinted at charges against Kraken and Paxos. Brown, in his opening remarks, stated that crypto catastrophes had exposed what many already knew about digital assets, cryptocurrency, and stablecoins.
The government officials conducted an investigation with the assistance of three witnesses to evaluate the requirements and advantages of establishing a regulatory framework for the cryptocurrency business.
However, not everyone was persuaded that imposing extra regulations is the best way to address the problems facing the crypto sector. Scott claimed that federal authorities already held the power to clamp down on corporations such as FTX. He stated that it is important for regulators to enforce existing regulations and conduct appropriate supervision.
The discussion centered on the need to establish a regulatory framework for the cryptocurrency industry to safeguard savers and investors. The hearing took place at a crucial time for the cryptocurrency market, which currently faces a series of scandals, fraud, dramatic arrests, international manhunts, hacks, exploits, and obtrusive marketing. In many instances, major financial authorities such as the SEC, NYDFS, and Justice Department have intervened in crypto firms to either penalize or bar them from continuing operations.
SEC Probes Cryptocurrency Staking: Retail Investors At Risk?
The cryptocurrency world has been thrown into turmoil following rumors of a potential ban on cryptocurrency staking for retail investors by the United States Securities and Exchange Commission (SEC). The speculation was first made public by Brian Armstrong, the founder of Coinbase, the largest cryptocurrency exchange in the country, which recently started offering Ethereum staking to its users.
John Deaton, a prominent attorney, long-time advocate for cryptocurrencies, and critic of the SEC, has shared his thoughts on the increased scrutiny of the cryptocurrency industry. He asserts that the SEC is currently engaged in an all-out battle against the cryptocurrency business, and that its leader, Gary Gensler, shows no signs of slowing down.
What Is The SEC Upto Now?
Recently, the SEC has stepped up its involvement in the cryptocurrency sector. The agency is currently investigating allegations that the prominent cryptocurrency exchange, Kraken, violated securities laws and has initiated an inquiry into the matter.
Coinbase, founded by Brian Armstrong, is also being scrutinized as part of the investigation.
Starting this year, the SEC will have the power to regulate cryptocurrency brokers and financial advisors that offer or provide advice on cryptocurrencies. This marks a significant development in the regulatory landscape of the cryptocurrency industry.
Standards Of Care For Brokers & Advisors
This year, the SEC is focusing on ensuring that brokers and advisors adhere to the established standards of care when delivering investment recommendations, referrals, and financial advice.
The regulator is placing greater emphasis on the proper procedures and standards of care followed by brokers, rather than assessing the specific risks posed by the rapidly evolving financial technology landscape, which will be a key area of focus in 2022.
The SEC is also investigating registered investment advisors to determine if they are inappropriately certifying their employees to provide customers with digital asset custody services. This investigation has been ongoing for several months and is now a top priority following the recent failure of the cryptocurrency exchange FTX.
BitMEX Founder Predicts Altcoin Explosion, Reveals He’s the Biggest Holder of This Cryptocurrency
While the cryptocurrency market is currently experiencing new twists and turns, the fate of altcoins is still unknown. According to BitMEX founder Arthur Hayes, the top two crypto assets by market cap will determine whether or not altcoins will see a parabolic rally. In a recent blog post, he said that cryptocurrencies will experience a sharp increase if Bitcoin (BTC) and Ethereum (ETH) maintain their current trends.
He wrote, “If Bitcoin and Ethereum continue to rally, there will definitely be a shitcoin vertical that goes bananas over the next few months. First the crypto reserve assets rally — that is, Bitcoin and Ethereum. The rally in these stalwarts eventually stalls, and then prices fall slightly. At the same time, the shitcoin complex stages an aggressive rally. Then shitcoins rediscover gravity, and interest shifts back to Bitcoin and Ethereum.”
According to Hayes, even though he missed the opportunity to invest in Bitcoin during its low in 2022, he is currently allocating a portion of his portfolio towards the cryptocurrency, expecting a future price increase due to increasing market liquidity. He mentioned that a part of his investments did not participate in the recent rally of Bitcoin, which was fueled by the anticipation of further monetary easing.
However, he said that it doesn’t mean he should refuse to participate in the next part of the rally, which will be driven by the flows out of Reverse Repo Agreements and the spending of the TGA [U.S. Treasury General Account].
Earlier in a tweet, Hayes claimed that he is the largest holder of LOOKS tokens, holding over 17 million of them (worth $5.14 million). The community has taken notice of Hayes’ intriguing token holding.
The native, fungible token of the community-focused LooksRare protocol, an NFT marketplace that actively compensates producers and traders for participation, is LOOKS. The staking of LOOKS tokens generates all of the platform trading fees for LooksRare.
Tezro Ecosystem Advances Cryptocurrency Storage And Trading
Since its launch in Q2, 2022, Tezro multi-purpose application provides cryptocurrency holders with a cutting-edge e-commerce experience, seamless payments instruments and the opportunity to chat with friends and colleagues securely and confidentially.
At its core, Tezro application works as a crypto-centric retail payments solution with built-in messaging functions. As such, its team strives to create an instant messenger that works like “a bank in your pocket.”
Tezro supports the entire basic functionality of top-tier cryptocurrency wallets. It is perfectly tailored for secure and confidential storage of major blockchain assets Bitcoin (BTC) and Ethereum (ETH), veteran proof-of-stake (PoS) currency EOS, as well as leading stablecoins by Tether Limited: U.S. Dollar Tether (USDT), Euro Tether (EURT) and Offshore Chinese Yuan Tether (CHNT).
In addition, the platform supports a wide range of fiat currencies, including the likes of Euro (EUR), U.S. Dollar (USD) and Chinese Yuan (CNY). For retail users, Tezro is available as a desktop application and web interface. Also, smartphone users can work with it on iOS- and Android-based devices.
For institutional clients, the full stack of Tezro functionalities is also available through an application programming interface (API): Tezro can be integrated in B2B platforms with only basic programming skills. Besides streamlining the processes of digital payments, its disruptive technical design can protect merchants from any sort of frauds and chargeback abuses.
Tezro app changes the narrative in the over-the-counter (OTC) cryptocurrency trading segment. It allows users to place their orders in the form of text messages. As such, crypto asset conversion becomes as easy as chatting with friends and colleagues.
Messaging system and e-commerce module now available to Tezro clients
Through this chat, traders can seamlessly exchange assets between each other, transfer cryptocurrencies to their peers and even convert them to the available fiat currencies.
For crypto-friendly e-commerce platforms, the Tezro team offers an escrow service for safe interaction with clients, suppliers and partners. As such, with Tezro, merchants can buy and sell goods within the application: the Tezro chatting module serves as a newbie-friendly marketplace for “offline” trading.
Tezro’s “Marketplace API” is designed to allow every Tezro user to offer his/her goods via third-party social media platforms. With Tezro’s accounts, traders can easily buy and sell goods of various types, only paying trivial 0.5% service fees. People can demonstrate their offerings through “streams” and add pricetags as QR-codes.
But the opportunity to launch auctions is the most impressive “killing feature” of Tezro’s products stack. Traders can seek the better bid and sell their goods and services for the best price with no need for intermediaries.
In Q4, 2022, Tezro integrated a wide range of card solutions. First, its users can pre-order credit cards with unique designs. Tezro’s Visa, MasterCard and UnionPay cards are accepted globally and work similarly to their “regular” analogues. All bank cards issued together with Tezro are supported by special bonus programs, so cardholders can enjoy exclusive bonuses and rewards.
Then, Tezro supports “gift cards,” i.e., digital vouchers with predetermined values. Users can order these cards to let their friends purchase something on Tezro marketplace. As such, Tezro facilitates new ways of sending gifts and tips to family, colleagues and employees.
A secure messaging system is yet another novelty of Tezro’s design. Unlike major messengers (WhatsApp, Telegram, Facebook Messenger), Tezro prioritized security, anonymity and attack-resistance for its technical design.
Shopping token and DEX wallet: What’s new in Tezro?
Besides supporting all major cryptocurrencies, the Tezro ecosystem also has its own utility token for traders, so-called “TezroST.” One TezroST can be purchased for one USTC stablecoin. Once the user purchases TezroST, he/she can immediately use it for purchasing lots in Tezro’s marketplace and its merchants’ API.
To guarantee a premium-level experience for crypto enthusiasts with various levels of expertise, Tezro unveiled its own DEX wallet integration module. Traders here cannot work with escrow, but they also do not need to rely on a centralized service while facilitating their trades. In “DEX wallet” mode, Tezro users can authorize the platform via their MetaMasks or any other type of on-chain wallet.
The opportunity to sign up with Ethereum (ETH) wallet is another step forward in personal data protection and user pseudonymization.
To wrap up, Tezro develops an all-in-one platform for digital payments, a native marketplace with API integrations, a chatting application and a number of related services. Combined with Web3-specific methods of authorization, this allows Tezro to become a game-changer in the retail crypto segment.
Contact
Company: Tezro
Name: Alexia Balazard
Email ID: [email protected]
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Is The Cryptocurrency Industry Experiencing Its First Real Recession?
Bitcoin had its best January since 2013, thanks to bets that monetary tightening and the crypto-sector crisis are both subsidings. It has increased 39% since the beginning of the year, a first-month gain that has only twice been surpassed in the early days of cryptocurrency.
However, the tides appear to be turning. February appears to be another harsh month for the cryptocurrency market. After giving up all of their weekend gains and trading flat on a weekly basis, Bitcoin and other significant crypto tokens were trading down on Monday.
Bitcoin lost roughly 2% of its value and fell under the $23,000 level in the early Asian hours. Most alternative currencies were trading at lower prices, but the losses were limited.
Let’s explore.
Mike McGlone indicates recession can bring an economic reset
Mike McGlone, the Senior Macro Strategist at Bloomberg Intelligence, recently addressed the current state of crypto in a tweet. He claimed that the cryptocurrency market might be entering a true recession, which is characterized by lower asset prices and greater volatility.
In addition, he noted that just as the financial crisis, the most recent severe US economic downturn, gave rise to Bitcoin, this recession too reset the economy and mark similar milestones.
Other analysts have also warned of a recession
Several analysts have issued recessionary predictions before McGlone. By the middle of next year, the U.S. and the rest of the world’s economies are most likely to enter a recession, according to Jamie Dimon, CEO of JPMorgan Chase.
Elon Musk, CEO of Tesla and owner of Twitter, has issued a recession alert. According to him, the recession would be increased alarmingly if the US Federal Reserve raised interest rates once more. As the economies of the US, EU, and China slump, IMF Managing Director Kristalina Georgieva predicted that 2023 will be “tougher” than last year.
To Conclude
Even if the news is constantly predicting a recession, there is no need to become alarmed. Investors can benefit from this phase of output fall by utilizing it. One may survive a recession by doing research, identifying crypto assets with the potential to outperform, employing derivatives, and keeping cash on hand.
Ripple vs SEC: A Game-Changing Battle for the Future of Cryptocurrency in The US
The U.S. Securities and Exchange Commission has an ongoing lawsuit against Ripple Labs, the company behind the cryptocurrency XRP (SEC). The SEC claims that Ripple Labs raised billions of dollars through an unregistered securities offering and that XRP is a security. The lawsuit is being fought in court by Ripple Labs, which has denied the accusations. The verdict in the case can have enormous repercussions for the crypto space.
The whole cryptocurrency sector has been heavily invested in the result of this litigation for some months. However, it’s intriguing to see that even banks are now paying close attention to this litigation.
IG Bank, a London-based company, wrote a piece about the Ripple v. SEC lawsuit late last week. The news is intriguing because it demonstrates that major financial players are still paying attention to the crypto business.
IG Bank’s Report
IG Bank is a Swiss-regulated financial company that provides professional clients with investment and trading services. It noted that an “SEC victory could severely limit the ability of crypto companies to grow.”
Furthermore, crypto companies like Ripple frequently introduce new coins in order to make income. The bank went into detail about the case, concluding that, “A positive outcome for Ripple could see XRP soar, but with the case in the air, this is far from guaranteed.”
How The Ripple Lawsuit Could Shape The Future
John Deaton, the founder of Crypto Law and a supporter of Ripple, recently tweeted an ominous warning that the sector would soon see the most aggressive attempt to shut down cryptocurrency.
This was said following a White House policy brief on minimizing the crypto risks. The statement read as follows.
“We have spent the past year identifying the risks of cryptocurrencies and acting to mitigate them using the authorities that the Executive Branch has.”
The future of regulation in the US is still very ambiguous. This remark and the SEC’s ongoing enforcement crackdown both send out unfavorable messages. On the bright side, the recently appointed chair of the House Financial Services Subcommittee on Digital Assets wants America to be the leader in fintech innovation.
This makes the Ripple case much more important. A successful outcome for Ripple will encourage fintech companies to operate in the United States. The opposite conclusion will almost certainly result in a mass exodus of crypto companies and talent.
The XRP price today is $0.400420 USD. The current market cap of $20,342,774,891 USD. The date of the final hearing is just around the corner.
With so much at stake, the Ripple vs SEC lawsuit has become a defining moment for the future of cryptocurrency regulation. The outcome of the case will have far-reaching consequences, not only for Ripple and XRP but for the entire crypto industry. As the date of the final hearing draws near, the crypto community waits with bated breath to see what the future holds.
Biden’s Groundbreaking Plan for Cryptocurrency Revolution
The cryptocurrency Bitcoin has caused financial difficulties for governments all around the world. Despite being used to purchase goods and services, Bitcoin is still not subject to any unified international legislation. The United States, Canada, and the United Kingdom are just a few of the developed nations that accept Bitcoin. The usage of Bitcoin is prohibited in a number of nations, including China and Egypt.
The United States of America is getting ready to introduce some crypto regulations. These laws could have an impact on your tax obligations, the cryptocurrencies you can purchase, the obstacles you might face when trying to buy Bitcoin and other cryptocurrencies, and more.
Joe Biden has provided some new updates on it. Let’s see what it is
Joe Biden has Directed Focusing on the Cryptocurrency Industry
President Joe Biden has directed federal agencies to concentrate more on the quickly developing cryptocurrency industry in order to combat illicit finance and facilitate research on digital copies of the US dollar for the country. In order to consolidate the previously dispersed approach to the new asset class, the White House launched an appeal to all federal departments.
In the upcoming months, the Biden Administration will make its goals for digital asset production and research public. The authorities think that U.S. government agencies should keep working to tighten regulations and, as needed, release new recommendations regarding cryptocurrencies. These new guidelines should address and minimize financial institutions’ exposure to the risks connected with digital assets.
The Government Has Felt a Need to Regulate the Industry
The year 2022 was difficult for cryptocurrencies. Fortunately, upheaval in the cryptocurrency markets has so far had no detrimental effect on the larger financial system. Nevertheless, many investors who had put their trust in cryptocurrency companies incurred significant losses. As a result, the government has felt compelled to intervene and impose regulations on the sector.
The government has spent the last year attempting to identify and solve problems under the direction of the president. First, experts from across the government have developed the first-ever framework for creating digital assets in a secure, responsible manner while addressing the risks they bring. Secondly, agencies are making use of their powers to increase enforcement when necessary and release new guidance when it is required.
The government wishes to put ideas into action in the next few months and seems enthusiastic about providing a digit assets framework. The USA being a superpower could inspire other countries also to regulate cryptocurrencies.
The LBRY Decision Stands Crucial for Ripple’s XRP and Cryptocurrency Market
The Securities and Exchange Commission (SEC) and Ripple’s legal fight has gone through numerous stages. The cryptocurrency community is speculating about the case’s result as it approaches its conclusion. The case has been ongoing for more than two years, and the conflict feels never-ending.
According to the latest development, John Deaton, an amicus curiae in the SEC v. XRP lawsuit, claimed that the hearing in the LBRY case will be crucial for the cryptocurrency market and XRP. It is anticipated that the SEC will use the judge’s ruling and apply it to every transaction involving LBRY Credits (LBC). This will include secondary market transactions where a user tips a content provider with LBC tokens, the attorney emphasized.
The decision of the LBRY case also made the blockchain community aware of what they would be able to anticipate in a situation similar to this. The outcome of this case is significant because the SEC can use it as a major argument in favor of winning the Ripple lawsuit.
If the Howey Test is strictly implemented in the manner in which the Supreme Court adopted it in 1946, Deaton explained, then, the majority of cryptos won’t pass the Howey test, he added. Lawyers said there was a conflict of interest in the SEC’s conclusion that Ethereum is not a security. Legal experts have also predicted that Ripple will likely prevail in the dispute over the SEC. Currently, Coinbase is one of 16 firms supporting Ripple in its fight with the SEC.
Recently, Ripple CEO Brad Garlinghouse criticized the SEC’s lawsuit, calling the organization’s actions so far “embarrassing,” while also expressing optimism that a decision on the lawsuit would come soon – maybe in the first half of this year.
After obtaining the highly sought-after records of former SEC employee William Hinman, Ripple CEO claimed that individuals who follow the case will be shocked by the SEC’s “shamefulness.”
Former President of FTX US Raises $5 Million for New Cryptocurrency Firm
Former FTX US President Brett Harrison has raised $5 million for a new cryptocurrency firm from Coinbase Ventures and Circle Ventures. In light of his close relationship with Sam Bankman-Fried and his troubled cryptocurrency exchange, the former CEO is striving to carve his next steps with his new firm–Architect.
“It’s a software company aiming to build institutional-grade infrastructure to connect various crypto venues across decentralized and centralized exchanges. We’re trying to make it easy to interface with either qualified custodians or self-custody. We’re building this single interoperability platform across crypto services with a focus on trading,” Harrison told TechCrunch.
Coinbase Ventures, Circle Ventures, SV Angel, SALT Fund, P2P, Third King Venture Capital, and Motivate Venture Capital have all contributed money to the startup’s pre-product fundraising round. It also has angel investors Kalos Labs CEO Shari Glazer and Skybridge founder and former White House communications director Anthony Scaramucci.
Harrison’s new project and fresh cash round come after the former president of FTX US announced his departure from the company and his relationship with co-founder SBF. He had earlier said that his relationship with SBF “had reached a point of total deterioration.”
He continued that it was challenging for Architect to raise funding because of the collapse of FTX. Harrison, though, thinks that his long-standing relationships with his investors helped the initiative get its initial finance.
Harrison said in a tweet, “I’m grateful to our partners, who’ve shown me that they believe above all in the resiliency of this industry. Architect is fortunate to draw upon their wide-ranging expertise, which spans all areas of the digital asset landscape as well as traditional finance and trading.”
Even then, several people on Twitter quickly expressed worries about Harrison’s past, recalling his previous position at FTX US, even if Architect may be looking toward the future of Web3.
Top Challenges To Incorporate Fiat Currency In Cryptocurrency Gambling Sites
Introduction
The casino industry has seen impressive growth over the past few years, including introducing new goods, marketing strategies, payment methods, and other innovations. The adoption of cryptocurrencies by consumers, acceptance by financial institutions and other businesses, and overall market impact, footprint, and significance have all increased significantly in the FinTech sector.
Additionally, cryptocurrency enables more effective payment methods and appeals to younger, tech-savvy consumers. This has given rise to the new era of crypto gambling.
Top Factors to limit the Acceptance of Fiat Currency
Almost every crypto gambling site accepts fiat currencies. Accepting fiat currency on crypto-supported gambling sites does raise a few issues. Some of them are:
Volatility
The volatility of the cryptocurrency market is significant. As a result of the high volatility, participants face greater risk because the value of cryptocurrencies might change at any time. It can be challenging for you to choose which coin to use because the industry is very volatile.
Both fiat money and cryptocurrencies are volatile, and several events can cause abrupt price changes. For instance, macroeconomic issues frequently contributed to volatility in the case of fiat money, as seen by traders. Similar to how geopolitical tension and worries have an immediate effect on currency values, they can also result in potentially seismic shifts as international relations continue to evolve.
Fiat currencies and cryptocurrencies are prone to value swings, which may affect how profitable crypto gaming sites are. For websites that offer games with predetermined odds or rewards, this might need to be revised.
Fees
The use of conventional payment processors, which can be expensive and occasionally unavailable to cryptocurrency gambling sites, is typically required in order to accept fiat currency. Crypto gambling platforms that use fiat money may have to pay fees for handling transactions or exchanging currencies, which can hurt their bottom line.
Regulations
Crypto gambling sites that take fiat money might be governed by a number of laws, such as anti-money laundering laws, Know Your Customer (KYC) specifications, and other laws. Compliance with these rules may be difficult and expensive, and failure to do so may result in fines or other consequences.
Online gambling is governed by a variety of laws around the world, and accepting fiat money can make it more challenging for cryptocurrency gambling sites to adhere to these laws.
Only a small number of nations regulate cryptocurrency gambling, even though most nations have official laws regarding online gambling. They include Greece, Poland, the Netherlands, the United Kingdom, Italy, and Belgium.
Bitcoin shouldn’t be used in gambling because it is not currently accepted as a payment method in many nations. Different nations require more clarification on that issue. The most notable example is probably Japan, where the estimated $15.8 billion gambling industry outpaces Nevada’s by over $4 billion.
Fraud
Fiat-accepting cryptocurrency gaming platforms run the risk of fraud, including chargebacks and unlawful transactions. The website may suffer financial losses as well as reputational harm as a result of this.
Additionally, if cybercriminals steal their money, they cannot recover their lost funds. For instance, hackers may empty the entire bank amount if they gain access to an account. Additionally, the majority of cryptocurrency transactions are anonymous. Therefore, there is no way to track the theft in case it happens.
Competition
There is significant competition in the crypto-gambling industry, as many different online crypto casinos are available. These sites offer various gambling options, including casino games, sports betting, and online lotteries. The competition among these sites is intense, as they all strive to attract and retain customers by offering attractive bonuses, promotions, and various games. Additionally, newer crypto-gambling sites are entering the market regularly, adding to the competition. To stand out and succeed in this competitive industry, crypto gambling sites must offer a high-quality user experience and maintain a strong reputation for fairness and security. The competition from sites that solely accept cryptocurrencies, which can have lower costs and fewer regulatory restrictions, could be a threat to cryptocurrency gaming sites that accept fiat cash.
Conclusion
Any payment method, money transfer, or value representation—especially cash—can be used illegally. Virtual currency is by no means an exception and can come with special hazards that require new methods of compliance and transparency.
A casino must adjust to these risks as it is exposed to them, whether directly or indirectly, and customize its compliance program. Accepting fiat money might be difficult for cryptocurrency gaming sites. Therefore, they must thoroughly weigh the advantages and disadvantages of doing so. Accepting fiat currency for crypto gambling sites can be challenging, but it can also open up new markets and customers. Therefore, it’s important for crypto-gambling sites to carefully consider the benefits and drawbacks of accepting fiat currency before deciding to do so.
| Disclaimer: This is a guest post. Coinpedia does not endorse or is responsible for any content, accuracy, quality, advertising, products, or other materials on this page. Readers should do their own research before taking any actions related to the company. |
Founder of Chinese Cryptocurrency Exchange BitZlato Detained in Miami
The US Department of Justice announced an international cryptocurrency enforcement action on Wednesday and in the wake of the announcement, they revealed that the DOJ has detained Anatoly Legkodymov, the founder of BitZlato, a Chinese cryptocurrency exchange that provides services to financial offenders.
Along with representatives from the FBI, OFAC, and the Financial Crimes Enforcement Network, the DOJ announced the information on Wednesday. The US sanctions framework is managed by OFAC, and FinCEN keeps an eye out for questionable behavior among financial institutions.
“To anyone who still believes that they can hide from the law by using cryptocurrency, this prosecution should put that illusion to rest.”
Russian citizen Anatoly Legkodymov, 40, of Shenzhen, China, was detained overnight in Miami and was scheduled to appear in court there the following day, according to the Department of Justice. The agency’s FinCEN division said in a statement that it has issued an order barring certain fund transmittals involving Bitzlato by any covered financial institution.
According to reports, the U.S. Justice Department said that BitZlato traded more than $700 million in cryptocurrencies with Hydra Market, the largest darknet market in the world before it was shut down in April 2022. According to the Justice Department, Bitzlato also got more than $15 million in ransomware earnings. This ends the platform’s ongoing support of recognised Russian-related criminal behavior.
The announcement was made on Wednesday at noon, and Lisa Monaco, the deputy attorney general of the United States, along with Brian Turner, the associate deputy director of the FBI, Breon Peace, the US attorney for the Eastern District of New York, Kenneth Polite, the assistant attorney general of the criminal division of the Department of Justice, and Wally Adeyemo, the deputy secretary of the Treasury, presided over a press conference.
Cryptocurrency News Today: Decentraland (MANA) To Reclaim the NFT Top Spot, But Will it Hit $1 in January 2023?
The Decentraland (MANA) price has seen a significant increase since the beginning of the year, indicating its potential for further growth. The price had been heavily trading within a descending trend since the market collapsed in May 2020.
However, after reaching a bottom below $0.3 just before the end of 2022, the MANA price broke through the crucial resistance at $0.6 and reached yearly highs around $0.758.
The upward trend was initially fueled by bullish market sentiment as the Bitcoin price rebounded, along with a significant increase in GitHub activity. Additionally, a major boost came from the announcement of a collaboration between the “Australian Open” tennis tournament and Decentraland.
With the current upward trend in the Decentraland price, the question remains whether the bullish momentum will be sustained and reach the next target of above $1.
The price has broken above the descending trend line it had been following throughout the second half of 2022 and is currently trading within these gained levels, leaving little room for bearish actions.
The bullish pressure has accumulated heavily due to which the price may maintain a notable upswing to reach the initial target close to $1 very soon.
In the meantime, the whale accumulation has intensified which had dropped heavily soon after the collapse of the FTX exchange. Whales holding tokens in the range of 100 million to 1 billion have become active.
However, it should be noted that a significant portion of the supply, around 50% around 1.23 billion, is held by whales who have been accumulating since December 2022. These whales hold nearly 1% of the entire circulating supply and may have a major impact on the upcoming MANA price rally.
This means that a pullback may be expected if these large holders begin to liquidate their holdings, as they did following the collapse of the FTX exchange. Therefore, the possibility of a short-term bounce appears high, which may trap bulls for a longer period in the coming days.
The Technological Innovations Of Miner US Have An Impact On The Cryptocurrency Market
Miner US was successfully launched in New York in April 2019 by its parent company, Miner US Limited, which was established by Graves David Gavin. This achievement came after four years of research and development into the trends and prospects of cryptocurrency investing. The event was hosted by Miner US Limited, the parent company of Miner US, which was responsible for organizing it. Miner US is a reliable, audited, and acknowledged website in the industry. Miner US has successfully secured the necessary legal authorization to begin operating.
The end effect of this is that Miner US is able to persuade all of its users that it is a respectable and reliable platform, which has led to a significant increase in the number of users. Miner US seeks to offer a way to invest in cryptocurrencies, decentralized finance initiatives, crypto securities, and the blockchain technology that is free of the inherent dangers and limits that are associated with the business.
The team focuses on making ethical investments in bitcoin and blockchain technology. Its members include analysts, engineers, data scientists, operators, and risk managers. The management of the team’s financial resources is the primary goal. Check out the video introduction of Miner US Limit
Registration Link
Official Website
Telegram Official Channel
Telegram Official Group
Miner US offers lifelong cloud mining plans with different hashing power that are compatible with a wide selection of USDT-based cryptocurrencies. They offer a cutting-edge cloud mining solution that supports multiple algorithms and multiple cryptocurrencies. Their open hash power market has been essential to their business strategy and a resounding success ever since they climbed to become the top supplier of on-demand hash power.
This success can be traced back to the time when they first became the leading supplier of on-demand hash power. Users of mobile devices now have access to all of the functions and features of our services thanks to the addition of mobile applications to the platform. Hashing power of 10 USDT will be awarded to newly registered users once they have successfully completed the registration process. In addition to a wide choice of hash rate power, Miner US also offers 150-day plans as well as unique lifetime plans, each of which comes with a selection of mining power.
The Miner US platform makes consistent efforts to provide its investors with the highest quality services that are currently on the market. On the platform, analysts, engineers, data scientists, operators, and risk managers provide direction for investing in cryptocurrencies and blockchain technology and are responsible for its management.
Additionally, the platform is extremely dedicated to delivering the service of hard-working individuals who are available around the clock to assist users and address any concerns or requirements they may have. One further advantage of cloud mining is the fact that Miner US executes the cryptocurrency mining operation at the fastest speed.
An existing user of Miner US can provide a friend with an invitation code or a link that they can use while setting up their own account. Following the successful completion of the sign-up process, the friend’s profile will be viewable in the “My Team” section. When offline computer power is purchased, only then is commission money eligible for participation in dividends; the dividend ratio is based on the user level. Only dividends are eligible for participation in commission income, which can range anywhere from 5% to 12% when offline computing power is purchased.
Miner US, a high-counterpower cloud mining system built by Miner Us Limited in partnership with the world’s top mining and public chains, offers many opportunities to participate in cryptocurrencies, DeFi projects, crypto securities, and blockchain technology without the industry’s dangers and constraints. Miner US stands out in the industry’s rapid growth!
Miner US and its efficient solutions are projected to help industry practitioners overcome their challenges and create a new mining and crypto digital asset ecosystem. It offers global users secure, stable, transparent, fair, low-cost, and high-yield cloud mining and global digital asset circulation.
Miner US is expected to construct the world’s leading, the sophisticated technology-based ecosystem for high-calculus mining asset values, allowing worldwide users to develop steadily in a safe, transparent, fair, low-cost, and high-yield environment.
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This Factor May Lead the Shiba INU (SHIB) to Enter the Top 10 Cryptocurrency Soon
With the Bitcoin prices displaying significant strength, one of the popular memecoin, Shiba INU is also forecasting its potential to slash a zero in its price very soon. The price had experienced a steep descending trend ever since the markets collapsed in November 2022 due to the collapse of FTX.
Moreover, the descending trend prevailed until the end of the year 2022 as the SHIB price marked the lows around $0.00000778 and close the yearly trade slightly higher than these levels.
The SHIB price is currently trading at $0.000009137 with a 24hr jump of 2.55% as the community sentiment and the market news drove the price close to the $0.00001 mark. More indicators are flashing bullish signals at the moment as the Bollinger bands exploded towards the north after experiencing a squeeze during the first few days of 2023.
However, the current trade setup signifies that the price is due for a major upswing of more than 110% very soon.
A popular analyst, discovers the formation of an ‘Adam & Eve’ pattern which is largely considered as bullish. It is one of the varieties of a double bottom with spiky first bottom and a u-shaped second bottom. However, to began with the bull run, the Shiba INU price could complete the pattern first by reaching beyond $0.00002 with a 100% jump from the current levels in the next couple of months.
However, on achieving the neckline of the pattern, the Shiba INU prices are believed to retrace slightly which could be followed by a massive upswing, probably towards its ATH. Importantly, in case of any pullback, the Shiba INU prices are required to sustain above $0.00000820 to $0.00000830.
The medium targets for the Shiba INU (SHIB) price rally are around $0.00001300 to $0.00001700 while the long-term target hovers around $0.000035.
Ripple: Will SEC’s Victory Will Drag the Cryptocurrency Market To Worst Condition?
No official date has been set for a verdict in the high-profile dispute between blockchain company Ripple and the Securities and Exchange Commission (SEC), but it is widely expected that the litigation will conclude this year. Although Ripple has supporters, it is important to consider the possibility of the SEC’s victory. In the event that the SEC prevails, the implications for the cryptocurrency industry could be significant.
The Downside To SEC’s Win In The Lawsuit
Contrary to established precedent in securities law, the SEC argues that the Ripple-issued XRP token is a security.
This case is part of the SEC’s broader goal to bring the cryptocurrency markets under its regulatory authority through enforcement. SEC Chairman Gary Gensler has stated that Bitcoin is the only cryptocurrency he is hesitant to designate as security. Therefore, a victory for the SEC could have negative implications for the broader cryptocurrency markets.
If the SEC were to win, other cryptocurrencies would likely be compelled to register as securities, and crypto exchanges would likely be required to register under the regulations governing securities exchanges. This would bring the cryptocurrency sector under the SEC’s regulatory purview, potentially creating a difficult and uncertain environment for the industry.
In conclusion, a victory for the SEC could have detrimental effects on the cryptocurrency sector which has already been through so much. This would be like removing the last line of protection for the industry.
Who’s Likely To Take The Win?
There is now conjecture about the case’s potential outcome. While some in the sector have suggested that the verdict could be in favor of Ripple, U.S. Attorney Jeremy Hogan, however, believes that Ripple and the SEC have almost equal odds of success in the case.
Meanwhile, a recent Twitter survey by XRP enthusiast and crypto lawyer John Deaton showed that the majority of the community is in favor of resolving the issue. Although the lawyer did emphasize how unlikely a settlement with the SEC is.
Now that the closing arguments have been presented by both sides, we are all anxiously anticipating the court’s decision.
XRP and Cryptocurrency Adoption To Increase In 2023, Says Ripple
In a blog post published on January 10th, Ripple shared its predictions for the cryptocurrency industry in 2023.
How can Ripple Shape The Crypto Industry In 2023?
Despite the crackdown by the Securities and Exchange Commission (SEC) on Ripple and cryptocurrencies, the fintech company based in San Francisco believes that the use of cryptocurrencies and XRP will continue to increase in the coming year.
Ripple forecasts that 2023 will see a renewed emphasis on the practical applications of cryptocurrencies, with a shift in the market away from highly speculative firms and towards those that use crypto solutions to solve real problems and meet unmet consumer needs.
According to the company, this increased practicality is the driving force behind the ongoing institutional adoption of cryptocurrency and blockchain technology.
Ripple argues that institutions will accelerate their long-term adoption of crypto solutions, despite the current market slump, due to the potential improvements in efficiency, transparency, and speed that crypto solutions can provide.
The company also predicts that major non-governmental organizations (NGOs) will begin incorporating crypto into their programs to better serve financially vulnerable individuals, such as refugees and displaced persons, as a way to make cross-border payments when conventional routes are corrupt or inefficient.
The Ripple team also predicts two changes in training and development in 2023 that will aid in the realization of its projections. First, colleges and institutions will start to explicitly educate students for employment in crypto and blockchain solutions in response to business demand and a competitive talent pool. Second, the sector will place a premium on user experience, particularly in terms of connecting the cryptocurrency and fiat currency markets.
The Ripple team is confident that 2022 will be seen as a turning point for the cryptocurrency industry, and that it will emerge stronger and more focused on practical applications. They believe that the crypto industry is going to mature just like the dotcom bubble, which also saw quick expansion, a subsequent collapse, and eventual industry maturity, and they think that issues about liquidity will continue to filter out the crypto companies that have depended on hype cycles.