05/09/2022. Weekly CryptoNews Digest and News from the HYIP Industry

Hello everyone! Finally the autumn has come and that means many of us are back from summer vacations and becoming increasingly active in both the HYIP industry and the crypto market. That gives us hope that more prominent high-yield investment projects will appear on the horizon and will be soon available for our consideration.

As MNO has been online for over fifteen years now I know a thing or two about the HYIP industry and in this series of articles called HYIP Admins’ Dirty Secrets I have already shared many secrets and things that many dishonest admins try their best to hide from investors. So don’t be a fool and check out the articles immediately to avoid unnecessary losses on your path to riches! And remember that if you want to have full blog articles delivered directly to your email address within 24 hours of publishing then make sure you add your email address to the hundreds of subscribers on this page, so you won’t miss anything worth your attention.

If you wish to be among the first to find out which new programs having been added to the MNO monitor please make sure you follow me on Telegram, Facebook, or Twitter. That way you will always find out some original programs coming to be listed on MNO – a truly respected and well-known monitor – and ensure you won’t skip anything that might become truly big in the future.

I will also be happy to hear from my readers and advertisers as well. Any feedback or queries get my full attention, so don’t hesitate to use one of the available channels to stay in touch. You may either contact me here, email me directly at abramsonp@gmail.com or just chat with me on Telegram @mnoblog

Regular readers might know that this year in recognition of the ever growing role various cryptocurrencies play in our lives I have started to post a regular Weekly CryptoNews Digest. It’s published on the MNO blog every Monday and covers all the important news and updates from crypto market I find interesting or worthy of your close attention. This week is no exception and I am happy to present the overview of some of the main events that happened in crypto market last week – August, 29 to September, 04.

The JPMorgan Asset Management seem to change their mind about as often as they change their socks when it comes to crypto and BitCoin in recent times. Their latest words of advice for investors rattled by a hawkish Federal Reserve: forget about short-term direction and focus on valuations. Or in other words, do a complete 180 degree turnaround on what they used to advise you and dump your crypto holdings. The chairman of the US Federal Reserve sent equity markets into a tailspin Friday after he reiterated that the central bank is willing to raise rates and keep them higher for longer to tame inflation, even at the risk of an economic downturn. That quashed hopes of a crypto revival anytime soon, a view that helped fuel bets this year’s bear market is over.

“The economy has got one foot into a recession and the other on the banana peel now,” is perhaps my favorite quote about the current global crisis that I saw in an interview with one economist. Given this backdrop, the best way to be positioned now is to look at valuations. Markets have been on a roller-coaster ride this year, falling on fears tightening monetary policy to rein in inflation running at the fastest clip in four decade would dip the economy into recession. Bulls took solace in prospects for inflation peaking, the Fed slowing the pace of rate hikes and a soft landing. Those fears and hopes have been reflected in the performance of value versus growth stocks, with former outperforming in the first half of this year, while growth has generally performed better since then.

Celsius Network Ltd., the crypto lender that filed for bankruptcy protection on July 13, is looking to release roughly $50 million worth of crypto assets to Celsius custody account holders. A court hearing concerning the matter of relief will take place on October 6. Court documents show that Celsius is looking to release the funds to “select” customers. The debtors’ motion seeks to reopen withdrawals for certain customers with respect to certain assets held in the custody program and withhold accounts, and granting related relief. Celsius filed for bankruptcy on July 13, 2022, after the company paused “all withdrawals, swaps, and transfers between accounts” a month earlier on June 12. The Celsius bankruptcy process has been very extensive, and the lender’s customers have written letters to the court begging for their funds to be released. One customer explained that it was a matter of keeping a roof over his family and food on the table. However if you are a Celsius customer unable to access your funds, don’t get too excited by the news jest yet. It’s only going to benefit a tiny minority of users for now.

Reports have shown Ripple Labs was interested in Celsius and the company’s assets, after the company asked to comment on bankruptcy court filings. In mid-August, an anonymous source alleged that the CEO of Celsius Network controlled the crypto lending company’s trading scheme and placed bad bets. On August 16, Celsius Network was approved by the bankruptcy court judge to sell BitCoin the company previously mined to continue funding specific operations. At the end of August Celsius sued the founder of Keyfi, claiming millions were stolen from the crypto lender’s wallets by that firm.

Some interesting news came this week for readers from Indonesia, though it may prove useful for users internationally as well. Indonesia’s government plans to establish a “crypto stock” exchange by the end of 2022, according to a report citing a government minister as the source. The exchange will list companies in the digital asset industry, such as some of the 25 exchanges that have been granted licenses by Indonesian financial watchdog Bappebti. The Indonesian government sees the exchange as a means of protecting consumers as interest in digital currencies has risen, the report said, citing comments made by Deputy Trade Minister Jerry Sambuaga on Wednesday. Crypto transactions in Indonesia totaled almost $58 billion in 2021 with the number of users reaching 15 million as of June this year, according to Bappebti. Earlier this week, Indonesia’s biggest tech company GoTo Gojek Tokopedia moved into the crypto industry with the purchase of local exchange Kripto Maksima Koin, one of the 25 firms to have been granted licenses by Bappebti.

Meanwhile in the USA one should never dismiss the long arm of the internal revenue commissioners, i.e. the tax inspector. High-profile Bitcoin proponent Michael Saylor and MicroStrategy —the company he co-founded and leads as executive chairman—faces a tax fraud lawsuit in the nation’s capital Washington DC that could see the tech billionaire and company on the hook for more than $100 million. District of Columbia attorney general announced a lawsuit against Saylor on Wednesday for allegedly illegally avoiding $25 million in taxes, also naming MicroStrategy as a defendant for allegedly conspiring to help Saylor. The scam apparently was the act of falsely claiming to be a Florida resident, a state where the rate of personal income tax is an envy inducing 0%. One comment I heard recently was that it’s believed the state of Wyoming, the least populous US state, actually has more billionaires than California which has the biggest population. The reason? 0% income tax in Wyoming versus 15% in California. I can’t really vouch for the accuracy of that statement, it just made me think that if you were indeed worth a billion dollars then it shouldn’t really be that much of a problem for you to genuinely move to a low tax jurisdiction rather than lying about it and thus leaving yourself open to a prison term and massive financial penalties.

And finally for this week’s crypto news digest I want to finish with what I suppose might be considered more of a human interest story. Cryptocurrency exchange Crypto.com mistakenly deposited $10.5 million directly into a woman’s bank account when the platform only intended to give her a $100 refund. According to a news agency in Australia, a Melbourne woman received the giant payment back in May 2021, and several months later, Crypto.com discovered its error. “Extraordinarily, the Plaintiffs allegedly did not realize this significant error until some seven months later, in late December 2021,” the Victorian Supreme Court judge wrote in a court ruling. The woman in question is being sued by the crypto giant for its money back. The only problem: much of it has already been spent. Apart from buying a multi-million dollar mansion for herself, she generously used $1.35 million of the funds to purchase a five-bedroom home for her sister. Crypto.com has since taken legal action against both sisters, and the luxury home has been ordered to be sold, although other legal proceedings regarding the situation are scheduled to resume in October, the report says. When asked to comment, Crypto.com would merely say that it’s a still an active matter before the courts and so weren’t at liberty to make a public statement. While this may at first glance sound like everyone’s dream come true, the reality is that you have no legal right to keep any of this windfall. You can try withdrawing the money and leaving the country, quite a difficult task in itself with a sum of money that big, but as long as banks and identity checks are involved there’s always going to be a paper trail leading back to you. Oh well, better luck next time!

That’s all for today’s Weekly CryptoNews Digest. Please come back and check the news next Monday to find out what happens this coming week. Now back to the HYIP industry news.

NEWS FROM THE HYIP INDUSTRY

ROBOTICSONLINE – UNCERTAINTY TO END SOON AND LATEST NEWS

RoboticsOnline (reviewed here) keeps updating customers on some of the entertaining news from the world of cryptocurrencies. As you might know, RoboticsOnline accepts four payment methods from its customers starting from $50 of value in BTC, LTC, ETH, and USDT ERC-20 and the current investment term is set to 36 business days. Although the variable daily profits are credited on every business day (Monday to Friday) and currently hover around the 3.5% mark you may only make a withdrawal on expiry of the investment plan. You might remember that the admin of RoboticsOnline made a controversial decision about adding another 24 business days to every existing investment which originally counted only 12 business days, therefore prompting all types of speculation on possible cashflow issues. That might yet be true, and I therefore issued a clear warning to new investors to stay on the sidelines and wait until the payments resume.

And there is not much time left to wait, guys! In just a week from now RoboticsOnline will have to pay out on the first expired investments from the 36-business day plan meaning it will be very clear the admin’s intentions on whether to continue the program that has been running for three years already or pull the plug and close up shop. At least we will face some renewed hope or harsh reality and MNO will be the first to report what’s going to happen with RoboticsOnline. So stay tuned for more, guys, and meanwhile check out the latest updates posted on the program’s official Telegram channel over the last seven days:

“China’s Ant Group Assists Malaysia’s Kenanga…
The crypto-friendly mega app from Kenanga is anticipated to debut in early 2023 and will include digital investment management, e-wallet, FX, stock trading, and others.
With more than 500,000 clients, one of the biggest private investment banks, Kenanga Investment Bank Berhad, has teamed up with Chinese tech giant Ant Group to release a cryptocurrency-friendly wallet and trading software.”

“Australia’s Crypto Market Regulators…
Australia’s financial regulator, Australia’s Securities and Investments Commission (ASIC), has vowed to focus heavily on cryptocurrencies and decentralized financing (Defi).
ASIC stated in its recently issued “Corporate Plan” that as “developing technology and products disrupt our financial ecosystem,” it will be centered on “digitally enabled misconducts” as part of its four-year strategic plan that extends to 2026.”

“Making The Sales Of $260M NFT Is The New Ace Card…
Leading companies including Nike, Gucci, Dolce & Gabbana, Adidas, and Tiffany have generated $260 million in sales from NFTs altogether, demonstrating the broad market appeal of digital collectibles.
Major businesses now have new methods to engage with customers across the arts, fashion, and gaming, thanks to nonfungible tokens.”

“PayPal Is The Latest Cryptocurrency…
With the addition of the crypto-friendly digital payments behemoth PayPal to the Travel Rule Universal Solution Technology (TRUST) network, several well-known crypto companies have taken steps to abide by the travel regulations for digital assets.
The announcement comes two months after the payments industry major launched infrastructure in June of this year that allowed users to send, receive, and move digital assets between PayPal and other wallets and exchanges.”

“Monero Privacy Upgrade Goes Live…
Monero’s Privacy Upgrade went live on August 23. The protocol update will enhance the Monero network’s anonymity and security characteristics.
Approximately four months after the hard fork was announced, a team of 70 developers worked together to implement the update on block 2,688,888.
The Monero hard fork will provide miners with an incentive to accept “fair fees,” which will increase network security and privacy.
It is Monero’s fifteenth update, and it won’t be the final.”

That’s all the news I have to report for today, guys. Thanks for reading and I hope to see you soon again on MNO – For Money Lovers!