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27/06/2022. Weekly CryptoNews Digest and News from the HYIP Industry

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Hello everyone! MNO is back with all the latest news from the HYIP industry‘s biggest programs as well as the traditional Weekly CryptoNews Digest I have started posting regularly since the start of the year.

By the way, I think I told you already but I have some exciting news which will be especially pleased to be heard by my long-time readers. This Friday, the first of July 2022 I will be raising a glass for MNO. The reason is simple – on that day exactly fifteen years ago (01/07/2007) I have launched a separate website called Money-News-Online.Com and posted on the MNO blog for the first time ever. You may independently verify this fact by checking the archive of my blog which is easily accessible from the drop-down menu in the left-hand sidebar. Gosh, how time flies!

Anyway, many things have changed in the HYIP industry during the 15 years of my involvement with MNO and not everything was positive. In fact, starting around the time of the Covid pandemic the industry has been going through a period of crisis with the drastically reduced amounts of the quality programs due to the departure of the most experienced HYIP admins. They have left the industry (temporarily or for good) due to their own reasons, but mainly because of the investors’ fading demand and the larger investors switching to the storage of cryptocurrencies as a means of financial gain, as well as trading them for profit. Of course, operating big amounts they may gain greater profits which is also less risky than playing with HYIPs and rely on pure luck.

We can talk much longer about the many reasons why the HYIP industry has been at such a low point as it clearly stands now, but it won’t change a thing. We have what we have and will work with that hoping for better times to come back sooner or later. Meanwhile, I still have one remaining program left on the MNO monitorRoboticsOnline – so I will be covering it for a while waiting for the next big thing to come our way. I’m aware that many of my readers are eagerly anticipating the return of more experienced admins and I must say I am one of that number too. So, in order not to miss anything important please keep supporting MNO by subscribing to my blog’s articles delivered straight to your email address you may submit here.

For quick notifications about any new programs or existing listed program status changes make sure you follow MNO on Telegram, Facebook, or Twitter. If you have any questions or suggestions you may always contact me via this form, email me directly at abramsonp@gmail.com or simply request to chat on Telegram @mnoblog And remember to keep voting on the MNO TalkBack where another poll was open last week and where I’m asking you to give your prediction of the price of BTC by the end of 2022. You can click here to submit your vote, guys!

Speaking of BTC and cryptocurrencies in general, let’s have a closer look at what curious events happened last week from 20/06 to 26/06, 2022.

There’s a couple of interesting news stories that caught my eye over the last week that I hope you’ll enjoy reading about. Not exactly “good news” if your definition of that is limited simply to exchange rates, though it has to be said the do look to have at least stabilized since the last news digest. I’m thinking more about longer term developments that should hopefully benefit investors sticking with cryptocurrencies despite all the recent uncertainties.

Starting off in the UK this week, Tether, the world’s largest Stablecoin issuer, has announced the launch of a new Stablecoin, this time tied to the value of the British pound sterling. On a side note, while looking into the story for more details, I discovered an interesting fact which I wasn’t previously aware of. Actually I never really thought about it much, but anyway, it seems the British pound sterling is the oldest surviving fiat currency in the world (it was first launched in 1694). The new token, with the ticker GBPT will be initially issued on the Ethereum BlockChain. The announcement comes just after Tether’s recent launch of a Mexican peso-pegged coin, MXNT, as reported on MNO a few weeks ago. The reason for the Mexican coin was fairly clear, being down to remittances or the practice of Mexican nationals employed in wealthier countries sending much needed money back home to support other family members. It’s a bit less obvious why the UK might “need” such a thing, in other words I don’t know where the demand for this service is coming from, though with the economy in that country tanking under misrule and Brexit I guess anything is possible. In a statement the CTO of Tether described the country as “the next frontier for BlockChain innovation” and wants his company to be the leading force behind this.

Staying in the UK for now, I honestly wasn’t expecting the Central Bank of England to be in any way supportive of cryptocurrencies but then life is full of surprises. The Deputy Governor of that particular institution has suggested that survivors of the current so-called “crypto winter” could become the tech companies of the future, rivaling the likes of Amazon or e-Bay. He compared the recent crypto market crash to the dotcom bubble at the start of the millennium, and I must say did make a very good point about that while a lot of companies went, the technology remained. The genie is out of the bottle so to speak and it isn’t going away.

So fairly disturbing and downright shocking news from the field of cyber security next. Hackers have stolen $100 million in cryptocurrency from Horizon, a so-called BlockChain bridge, in the latest major heist in the world of decentralized finance. Details of the attack are still slim, but Harmony, the developers behind Horizon, said they identified the theft Wednesday morning. Harmony singled out an individual account it believes to be the culprit. There has been some limited success stories in the past of law enforcement agencies apprehending and prosecuting such criminals, though it can literally take years. Throw into the mix that if such hackers are in the employment (and therefore protection of) certain governments then the chances of recovery go way down. Harmony has not revealed exactly how the funds were stolen. However, one investor had raised concerns about the security of its Horizon bridge as far back as April. The security of the Horizon bridge hinged on a “multisig” wallet that required only two signatures to initiate transactions. Some researchers speculate the breach was the result of a “private key compromise,” where hackers obtained the passwords required to gain access to a crypto wallet. All the company themselves would add for now is that the FBI are investigating, as are a number of other cyber-security specialist firms.

There was an interesting development following last weeks shock news of the pending implosion of crypto lending firm Celsius. Every cloud has a silver lining as the saying goes, though perhaps never let a crisis go to waste would be more apt. it seems Goldman Sachs is looking to raise $2 billion from investors to buy up distressed assets from the troubled lender according to sources familiar with the matter. The proposed deal would allow investors to buy up Celsius’ assets at potentially big discounts in the event of a bankruptcy filing, the people said. Goldman Sachs appears to be gauging interest and soliciting commitments from Web3 crypto funds, funds specializing in distressed assets and traditional financial institutions with ample cash on hand, according to a person familiar with the situation. The assets, most likely cryptocurrencies having to be sold on the cheap, would then likely be managed by participants in the fundraising push. Celsius, which had more than $8 billion lent out to clients and $12 billion in assets under management as of only last month, abruptly announced on June 12 that it would stop withdrawals from its platform, citing “extreme market conditions.” The disclosure exacerbated those conditions, briefly sending Bitcoin’s price below $20,000. The carpetbaggers are on the march it would seem, few organizations could come up with $2 billion but for those who can, there’s quite a bargain to be had.

Celsius are by no means the only crypto lender to find themselves in hot water. The company has been especially hard hit in the downturn. Last week BlockFi joined the growing list of firms reducing their workforce to weather the crypto winter, cutting its staff by 20%. The company seem (or at least claims) to be optimistic by saying that for the time being all of BlockFi’s products and services would continue to operate normally. It was announced on Tuesday of last week that BlockFi have somehow managed to secure a $250 million revolving line of credit from crypto exchange FTX. This means the proceeds from the FTX loan are contractually subordinate to all client balances, creating the conditions for BlockFi to satisfy its obligations on client accounts—BlockFi Interest Accounts, BlockFi Personalized Yield and loan collateral—before paying FTX. It’s a timely disclaimer. Celsius, one of BlockFi’s crypto lending competitors, froze account withdrawals, swaps and transfers just recently as already reported on MNO to help it weather extreme market conditions. Yesterday they (Celsius) said it needs more time to stabilize before unfreezing accounts, though as just reported above with the Goldman Sachs offer on the table and the current market situation they may well just take the money and run, and understandably so. Meanwhile, BlockFi has faced its own struggles. Last week, the company made a $1 million payment to the Iowa Insurance Division as part of a larger $100 million penalty that BlockFi agreed to pay to settle an investigation into its high-yield accounts.

That’s it it for today’s Weekly CryptoNews Digest and I hope you enjoyed the piece. To find out more about this week’s events on the crypto market please tune in next Monday.

NEWS FROM THE HYIP INDUSTRY


ROBOTICSONLINE – TETHER ERC20 ADDED AS NO-CONVERSION OPTION

As was promised by the admin a month ago, RoboticsOnline finally added Tether as the fourth payment option last week. Tether will be accepted via its Ethereum based token ERC20 and will provide a greater level of comfort for those investors preferring to deal with USD rather constantly depending on the ever fluctuating cryptocurrency market.

If you are not familiar with RoboticsOnline and haven’t read my review of the program posted here I will explain some of the basics you need to know if you wish to invest. RoboticsOnline will accept investments starting from a $50 minimum via BitCoin, Ethereum, LiteCoin, and most recently Tether USD coin (via Ethereum). You will be paid around 4%-5% profit (a variable interest rate is credited to your account daily but not available for withdrawal until expiry) after a fixed period of 12 business days and may activate the so-called “autopilot” which will allow you to reinvest to gain more profits in the longer term. Many investors of RoboticsOnline actually take full advantage of reinvesting as the HYIP has earned its good name and flawless reputation after an incredible three years online. It’s a long life for any HYIP indeed, and it looks especially impressive when you think just how many programs couldn’t survive under much milder market conditions compared to what we can clearly observe nowadays.

Now let’s have a closer look at the recent addition of Tether ERC20 announced a few days ago in the Telegram update by the RoboticsOnline official channel:

We told you we have some big updates coming soon:
Today, we implemented Tether ERC20!
We are aware that some users experiences some fluctuations when depositing and withdrawing in the current bear market. Now, you can invest safely without any downfalls!

As stated there, the main advantage is that unlike investments made via BTC, ETH, or LTC your deposited funds are not going to be converted to USD and then back to crypto on every single withdrawal. An investor will be able to choose Tether ERC20 and invest a fixed amount in USD specifically to avoid such volatility and make the potential income from RoboticsOnline more consistent and in Stablecoins tied to the US dollar. That alone, I suppose, should attract many new customers to RoboticsOnline, which is important while the crypto market has probably reached its bottom for this year already. In any case, I’m very pleased the admin of RoboticsOnline is still working hard to make his program grow and prosper in the longer-term, and that is very good news for all the investors prepared to trust their funds to this incredible program.

That’s about all I had to report on my blog today, guys. I wish you all a happy and prosperous week ahead and hope to see you again soon on MNO – For Money Lovers!

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