04/07/2022. Weekly CryptoNews Digest and News from the HYIP Industry

Hello all! Today is Independence Day in the US which has always been one of the most celebrated holidays for the majority of my readers. Well, at least that was true over a decade ago when the HYIP industry was in prime condition and we all were spoiled for choice between programs run by utmost professionals in the business. Currently all we see is rare gems in the otherwise shattered industry hurt by the recent pandemic, cost of living crisis, the bearish crypto market and of course by the mass exodus of good admins. The latter factor has been the most influential in bringing the HYIP industry to the lowest point in a decade and that we could observe over the course of the last few years now.

In fact, we still have lots of monitors that deal with cheap scams and enjoy fast profits for themselves while their investors suffer tremendously from the falling quality of the average HYIP resulting in huge losses for the majority of the players on the current market. The cryptocurrency industry has been suffering as well over the last few months with BTC dropping to levels below $20K while ETH currently trading at slightly above the $1K mark. The low levels of cryptocurrencies’ value present the further pressuring factor on the HYIP industry which along with the the usual summer slowdown indicates the immediate danger of getting scammed quickly if you are getting involved with the low-life admins.

By the way, in order to avoid any possible pitfalls and get to know more on the tricks that the HYIP admins use for investors to get rid of their money please refer to the series of articles here. This series is called HYIP Admins’ Dirty Secrets and will allow all readers (especially newbies) to find out more on scam tactics and avoid getting scammed easily if they follow my advice and apply just a bit more common sense in their everyday investment activities.

Unlike other monitors though you can be sure that MNO won’t be accepting all sorts of fast scams and I intend to keep my listing prices high in the foreseeable future exactly for the reason of weeding out potential hunters of a quick buck. I’d rather stick with such programs like RoboticsOnline the main news from which can be read below than to accommodate the fast scams the industry is inundated with at the moment. I’m pretty sure my approach will be rewarded and once the HYIP industry recovers we will see the truly outstanding programs listed on the MNO monitor.

Meanwhile, if you wish to stay updated on the current events in the HYIP industry and beyond I would urge you to join thousands of MNO blog subscribers and enter your email address on this page. This way you will be sent all the blog articles I regularly post on MNO and won’t miss a thing.

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Let’s get back now to the main subject for today’s blog post which will be the regular Weekly CryptoNews Digest I do every Monday. Let’s see what are the most important events and curious news that happened in the crypto industry over the last seven days, June 27 to July 3, 2022.

The first item I wanted to cover in this weeks digest involves Three Arrows Capital, sometimes called just 3AC. You might remember I reported here a couple of weeks back around mid-June that it was expected 3AC were on the brink of filing for bankruptcy. Well, the worst fears can now be confirmed. [3AC by the way, is if you didn’t already know, a Crypto hedge fund]. They filed for what’s known as Chapter 15 bankruptcy, a move that protects its US assets while a liquidation is carried out in the British Virgin Islands. Representatives for Three Arrows filed the bankruptcy petition in New York on Friday, court papers show. Chapter 15 bankruptcy filings stop creditors from seizing a company’s assets in the US. A British Virgin Islands court ordered the liquidation of Three Arrows Capital earlier this week. The fund, which was actually founded by two former Credit Suisse traders, managed an estimated $10 billion of assets as recently as March.

In news that’s closely related to 3AC, the contagion from this continues to spread through the crypto market. Crypto lender Voyager Digital said on Friday it has suspended withdrawals, trading and deposits to its platform and said it is exploring strategic alternatives to preserve the value of its platform. The move comes days after the company issued a default notice to embattled hedge fund Three Arrows Capital for the fund’s failure to make required payments on a loan. In a statement, Voyager Chief Executive Stephen Ehrlich said the move gives the company “additional time to continue exploring strategic alternatives with various interested parties” while preserving the value of the platform. In a release, New Jersey-based Voyager said the value of the crypto assets it holds is $685 million, compared with the more than $1.12 billion in crypto assets it had loaned. Voyager said it had lent $350 million and 15,250 Bitcoins to 3AC. As already covered in the piece above, last Wednesday saw 3AC entering liquidation. The move by Voyager comes less than a month after rival crypto lender Celsius Network suspended withdrawals, citing extreme market conditions. Celsius has not yet opened withdrawals back up for its customers. Many of the crypto industry’s recent problems can be traced back to the spectacular collapse of so-called Stablecoin TerraUSD in May, which saw the Stablecoin lose almost all its value, along with its paired token while Bitcoin, the largest and most well-known cryptocurrency, is down 58% in the first six months of 2022, its worst first half of year showing ever. Voyager went on to say that they have appointed teams of both financial and legal advisors to further pursue their exploration of viable strategic alternatives. This follows the news that just last month Voyager signed an agreement with Alameda Ventures Ltd for a revolving line of credit, gaining access to additional capital to meet its customers’ liquidity needs as crypto prices take a hit.

Grayscale, which manages the world’s largest Bitcoin fund, said it would sue the U.S. Securities and Exchange Commission after regulators turned down its bid to convert the investment vehicle into an exchange-traded fund. The SEC on Wednesday rejected Grayscale’s application for a spot Bitcoin exchange-traded fund, citing a failure by the investment manager to answer questions about concerns around market manipulation. The watchdog is concerned investors would lack sufficient protections under the Grayscale proposal. Grayscale filed to make its Bitcoin Trust, known as GBTC, an ETF back in October 2021, but the ruling faced multiple delays. Grayscale had piled pressure on the watchdog to side with it, including by giving people a way of quickly emailing in to express their support. Grayscale argues the SEC’s position is inconsistent in light of previous decisions to greenlight other bitcoin-based ETFs, including those based on futures markets and one that allows investors to short — or bet against — the cryptocurrency.

In international news, it’s widely known by now that a number of governments in the developing world have been trying to integrate BitCoin into their economies. I’m referring specifically here to the most notable case of El Salvador which went so far as to allow BTC become legal tender in the country. I can’t say it looks as if the results have exactly been paying off for them recently, given the plummeting values. The government there however aren’t giving up, showing either that they love BitCoin or else simply enjoy losing other people’s money. As prices crash the El Salvadoran president announced he just spent another $1.5 million of public money to buy 80BTC at around $19,000 per unit. Prior to this latest acquisition public spending had already been at $104 million dollars, however that was when BTC was at a significantly higher price and more than double the current rate. Estimated losses on the country’s BitCoin stash at the moment stand at around $60 million. This means the exchange rate would have to skyrocket, more than double in fact, before the country’s losses are even back to zero without any profit at all.

Staying on the international stage, European lawmakers have reached an agreement on crypto regulation. Known as Markets in Crypto-Assets, or MiCA, it is the European Union’s first attempt to create a comprehensive regulatory framework for digital assets in the region. According to the EU, the aim is “put order in the Wild West of crypto assets.” The European Commission, EU lawmakers and member states hammered out a deal in Brussels after hours of negotiations. The move came a day after the three main institutions finalized measures aimed at stamping out money laundering in crypto.

The landmark law is designed to make life tougher for numerous players in the crypto market, including exchanges and issuers of so-called Stablecoins, tokens that are meant to be pegged to existing assets like the U.S. dollar. Under the new rules, Stablecoins like Tether and Circle’s USDC will be required to maintain ample reserves to meet redemption requests in the event of mass withdrawals. Stablecoins that become too large also face being limited to 200 million euros in transactions per day. The European Securities and Markets Authority, or ESMA, will be given powers to step in to ban or restrict crypto platforms if they are seen to not properly protect investors, or threaten market integrity or financial stability.

MiCA will also address environmental concerns surrounding crypto, with firms forced to disclose their energy consumption as well as the impact of digital assets on the environment. A previous proposal would have scrapped crypto mining, the energy-intensive process of minting new units of bitcoin and other tokens. However, it was voted down by lawmakers in March. The rules won’t affect tokens without issuers such as BitCoin, however trading platforms will need to warn consumers about the risk of losses associated with trading digital tokens.

Lastly for today, generally speaking I prefer to stay away from so-called “news stories” which are often no more than barely disguised advertising features. I found this one interesting though since it does show how tech and crypto are evolving and merging at the same time. I’ll just give you the most brief details and if it interests you then you can look into it further in your own time. Smartphone manufacturer HTC has launched a new phone compatible with its metaverse platform and incorporating crypto and NFT functionality. The Desire 22 Pro will have the Viverse metaverse app and a crypto wallet built into the phone. Users can create virtual avatars and manage crypto assets, including NFTs.

That’s all for this week’s CryptoNews Digest. If you like reading it please come back next Monday when I will be posting on the subject once again. And if you wish to find out more on the news from the HYIP industry please keep reading below.

NEWS FROM THE HYIP INDUSTRY

ROBOTICSONLINE – LATEST NEWS FROM CRYPTO INDUSTRY YOU MIGHT FIND INTERESTING

In the current situation in the HYIP industry with almost nothing to choose from we should be truly grateful that such incredible programs as RoboticsOnline still exist and pay well. Out of the three years RoboticsOnline has been running it’s been one of the very few programs in the industry that have been through thick and thin and survived so many other shorter-term programs that I cannot recall any of them that have lasted as long as this one.

If you have not read my full review of RoboticsOnline posted here but would like to find out more to consider adding this program to your portfolio let me remind you of a few things. First, starting from last week you are allowed to invest not only with the previously accepted BitCoin, LiteCoin, and Ethereum currencies, but also with the Tether USD ERC-20 Ethereum based token. The minimum to invest is $50 and the advantage of choosing Tether over BTC, LTC or ETH funds is that your profit will be paid in USD and will not be affected by the volatile cryptocurrencies. The thing is RoboticsOnline promises to pay you about 4% to 5% variable rate after a period of 12 business days which can be extended if you activate the “autopilot” feature for every investment you make. If you tend to invest with BTC, ETH or LTC then the amount will be converted to USD meaning you receive your profits at the end of the investment cycle in USD as well. On every withdrawal the USD amount will be converted back to the cryptocurrency used when funding your account with RoboticsOnline which means you might theoretically lose instead of win due to high volatility on the market. Tether USDT option will give you confidence that your profit in dollars will remain constant and free from any crypto market fluctuations – which you might experience if you invest with other cryptocurrencies. Therefore, be smart and choose the appropriate payment method that would better suit your investment goals when dealing with RoboticsOnline.

You might know that along with their stable work record over a significant period of time RoboticsOnline also claims to be involved in the crypto and robotics markets and from their income from those fields it pays profits to investors. Well, over the last seven days the official Telegram channel by RoboticsOnline has been quite busy as updates were posted on a nearly daily basis. Here are what I found the admin has been reporting over the last seven days:

“Bitcoin can have more than a billion users by 2030!
Blockware, a company that offers blockchain infrastructure and bitcoin mining, predicts the rise of bitcoin users to more than 1 billion.
A report titled” Bitcoin User Adoption” released by Blockware mentions the faster rate of adoption of Bitcoin compared to other technologies.
Will Clemente, a lead analyst at Blockware, argues the Monetary Benefits of the Bitcoin Network as one of the most substantial reasons for a positive movement of Bitcoin in the future.”

“Someone Sold a 300 ETH NFT for just 6.9 ETH.
NFTs have shown good days to many but not to all. Recently a user sold a CrypToad NFT for 6.9 ETH, which they purchased eight months ago for 300 ETH.
The deal caused a loss of $1 million to the user in a short period.”

“Bitcoin is still better than Gold for many.
American Investor Stanley Druckenmiller thinks that owning Bitcoin is the right strategy when considering increasing inflation.
He believes the US economy is moving towards recession anytime in 2023 and that he’ll prefer to keep #Bitcoin over Gold.”

“People are Still Ready to Buy Crypto
Despite the rough trends of the market, 90% of people surveyed by Bank of America are still ready to buy crypto in 2022.
The survey of 1000 people resulted in some interesting findings:
The number of crypto users is the same as that of people who want to buy cryptocurrency.
30% of crypto investors want to HODL their investment.
39% use cryptocurrencies for making online purchases.”

“Robots are turning to the Texas Highways.
Former heads of Google’s Waymo and Tesla’s Autopilot are fine-tuning their driverless technology with Robot Trucks.
The launch is expected to be in the next year.
Aurora Innovation Inc.’s recently tested its self-driving truck prototypes on the Texas Highway. Final refinements are being made to the validation system, said Sterling Anderson, the company’s co-founder and chief product officer.”

“The worst first half ever for Tesla
The stocks of electric vehicle makers plunged by 35% in the first half of 2022. Experts see a great opening for long-term investors.
Tesla witnessed the worst first half ever in its business till now, but investors still seem optimistic about the stocks. Buy in the dip is the call from experts.”

That’s all I have to report for you today, guys. Thanks for reading and please keep your votes coming on the MNO TalkBack where I am currently holding a poll on BTC price predictions by the end of the current year. Your opinion matters, guys, so show it here! Have a great summer and I will talk to you again soon on MNO – For Money Lovers!