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31/10/2022. Happy Halloween From MNO and Weekly CryptoNews Digest

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Hello all! I hope you’re having a great Halloween wherever you are and have a feeling of spookiness in the best sense of this word. I have been quite busy lately with my own Halloween preparations, that’s why I had to postpone the full review of SwagBucks for another week, as I still have a few things to cover. However, if you’re interested you may be able to register in SwagBucks already using this link and start earning, provided you reside in a qualifying country the full list of which will also be covered in the next week’s review.

MNO has been at the forefront of the HYIP industry for over fifteen years now but unfortunately all that’s left of it at the moment are the crooked new admins who would scam after the first few investments in their awful programs. That’s why while it’s not worth your while to pay close attention to HYIPs themselves (there is only one program – ShuttleRent – is currently being monitored by MNO) I have my full attention on cryptocurrencies which last week experienced a sort of mini-revival with BTC having surpassing the $20K mark and ETH crossing over the $1,500 threshold.

Everything about that can beread in the MNO traditional Weekly CryptoNews Digest below, that covers the major events happening in the industry over the last calendar week, October, 24 to October, 30, 2022. Before that though let me remind you that you can follow MNO on Telegram, Facebook, and Twitter for all up-to-date announcements, or share with me your email address here to subscribe to the full version of the MNO blog articles delivered to your mailbox on a regular basis. And of course, I look forward to answering your questions or read your comments you can leave on the MNO ShoutBox, submit via this contact form, email me directly at abramsonp@gmail.com or simply chat with me on Telegram @mnoblog

Tech Billionaires are a curious new species of the super rich, and our old friend Elon Musk is the most curious of the bunch in his own personal race to bankrupt himself from the world’s richest man to the world’s most in debt. We certainly know he has enormous wealth, but then again we also know he doesn’t quite have the full $44 billion dollars to fully finance his Twitter takeover. Private lenders and banks come into the equation to pay the balance, of course they would since they have the richest person in the world to pursue if they fail to keep up the payments. However with the original founder Jack Dorsey preparing to receive a pretty big slice of the money already planning his next big social media platform, known I believe as Blue Sky. With rumors abound that Twitter may switch to a subscription model, it’s hard to see the point of it anymore if that does indeed happen. Or at least I can’t see it ending that well for anyone involved anyway.

The point I’ve been building up to here has been that Binance, the world’s largest crypto exchange that has invested $500 million into the Musk buyout of Twitter. They are creating a team to work on how blockchain and crypto could be helpful to Twitter, a company spokesperson said on Friday. As one of Elon Musk’s equity co-investors to fund his $44 billion deal, Binance said it will brainstorm plans and strategies that could help him run the platform. Well, he’s going to need someone to help him since the first thing he did was fire all the former chief executives!

The newly-formed team will explore how to build on-chain solutions to address Twitter’s issues including proliferation of bot accounts, a problem Musk has repeatedly complained about and almost reneged his offer because of. In November 2021, Twitter launched an internal crypto team to build features that involve such technologies. The company introduced the ability for paid Twitter subscribers to use non-fungible tokens (NFTs) as their avatar photo. In text messages with confidants that were released as part of the litigation with Twitter, Musk discussed the possibility of placing Twitter on the blockchain, though he later appeared to decide such a move would not work.

Speaking of Binance, as one of Elon Musk’s equity co-investors funding his $44 billion deal, they have confirmed that they will indeed brainstorm plans and strategies as just mentioned above that could help Elon Musk run the platform.  Twitter had began to explore ways to incorporate blockchain technology under co-founder and former CEO Jack Dorsey, who has been a proponent of Bitcoin. In November 2021, Twitter launched an internal crypto team to build features that involve such technologies. The company introduced the ability for paid Twitter subscribers to use non-fungible tokens (NFTs) as their avatar photo. In text messages with confidants that were released as part of the litigation with Twitter, Musk discussed the possibility of placing Twitter on the Blockchain, though he later appeared to decide such a move would not work. It’s unclear how actively involved co-investors like Binance could be in Twitter’s future as a minority investor, since Musk fully controls the board and decision-making in the now-private Twitter. Most of his co-investors are funds such as Sequoia Capital, Fidelity Management, Andreessen Horowitz and Brookfield. Binance’s Chief Executive Changpeng Zhao, known as CZ, is an active Twitter user with over 7 million followers on the platform.

In other news the CEO of the popular exchange service FTX asserted that the firm is working on launching its own Stablecoin. He also confirmed previous reports that FTX is looking to raise more funds and spoke about the recent and possible future acquisitions. Without providing any further details, Sam Bankman-Fried said the exchange knows how to create a StableCoin and is “very likely” to do so soon. At the moment, FTX is looking for a partner before launching such an asset. If FTX indeed goes down that road, the company will mimic other digital asset exchanges that have paved the way, including Binance. BUSD is now the third-largest Stablecoin and the seventh-largest crypto with a market cap of over $21 billion. SBF also spoke about the ongoing crypto bear market, saying it’s quite disturbing for the entire industry. However, the added that his firm has managed to weather the storm rather well as FTX has continued to “grow the business, create services and new tools for customers.” The exchange recently launched a crypto debit card by collaborating with Visa, which could drive mass adoption for the asset class in terms of payments. According to SBF, crypto payments are the next big step for the industry. Speaking about the deals FTX made with Voyager and BlockFi, the CEO said they managed to stabilize the market in times of enhanced turbulence following the Terra ecosystem crash. However, he also believes they will “allow us to strengthen our position in the United States and continue to gain market share.” SBF further confirmed recent reports that the exchange is looking to raise additional funds, which it could use for new acquisitions. However, he refuted the rumors that FTX plans to purchase RobinHood: “The most important thing is to continue to grow, to attract users, whichever way you do it. We could buy a company like RobinHood, but that’s not what we’re looking at right now. Our challenge is to continue to grow organically.

As crypto payments and crypto banking grow in popularity, digital banking super app Revolut is looking to introduce crypto to its customers. The company is making cryptocurrency a viable payments option to give Revolut card customers a way to use their crypto balance to pay for eCommerce and in-person purchases, according to a Thursday (Oct. 27) notice sent to Revolut customers. “We’ve made a change to our Crypto T&Cs to include a new ‘spend from crypto’ feature, letting you use your cryptocurrency balance to pay for everyday purchases on your Revolut card,” the company wrote. The notice also indicated that starting on Nov. 1, and for a limited time, customers will also be able to earn 1% cash back on all their crypto balance spent. Using crypto as a form of payment for eCommerce purchases is nothing new. A PYMNTS research report, “Shopping with Cryptocurrency: Tech-Driven Consumers Drive Market Acceptance”, found that 33% of tech-driven consumers buy cryptocurrency to use it for shopping. Another recent PYMNTS data report, “How Consumers Use Digital Banks,” states that 36% of consumers are highly interested in using a digital bank in the next year. As a digital banking platform, Revolut’s expansion into crypto payments capabilities for its users makes it a more attractive digital banking platform compared to its competitors. Revolut also already offers in-app trading for over 30 digital currencies and has more than 20 million personal users on its platform, according to the company’s website.

Finally for this week’s news digest, the Monetary Authority of Singapore (MAS) today published two consultation papers proposing regulatory measures to reduce the risk of consumer harm from cryptocurrency trading and to support the development of stablecoins as a credible medium of exchange in the digital asset ecosystem. These measures will be part of the Payment Services Act. Trading in cryptocurrencies (also known as digital payment tokens or DPTs) is highly risky and not suitable for the general public. However, cryptocurrencies play a supporting role in the broader digital asset ecosystem, and it would not be feasible to ban them. Therefore, to reduce the risk to consumers from speculative trading in cryptocurrencies, MAS will require that DPT service providers ensure proper business conduct and adequate risk disclosure.

Proposed measures cover three broad and important issues, specifically consumer access, business conduct, and technology risks. Consumers must continue to exercise utmost caution when trading in DPTs and must take responsibility for such trading. Regulations cannot protect consumers from losses arising from the inherently speculative and highly risky nature of DPT trading. StableCoins have the potential to be a medium of exchange to facilitate transactions in the digital asset ecosystem, provided they are well-regulated and securely backed. The current regulatory framework, which primarily addresses money laundering and terrorism financing risks, and technology and cyber risks, will be expanded to ensure that regulated Stablecoins have a high degree of value stability. MAS will regulate the issuance of Stablecoins which are pegged to a single currency (“SCS”) where the value of SCS in circulation exceeds $5 million Singapore dollars.

Banks in Singapore will be allowed to issue SCS as well, and no additional reserve backing and prudential requirements will apply when the SCS is issued as a tokenised form of bank liabilities given the existing rigorous capital and liquidity frameworks applied to banks. For non-issuance services, DPT service providers can offer all types of Stablecoins provided that they clearly label the MAS-regulated SCS to distinguish them from the unregulated ones. This will help customers make informed decisions on the risks involved in using unregulated Stablecoins.

That’s all for this Halloween night, guys. For all the major important events happening in the crypto world this week you will be able to read more next Monday in the following Weekly CryptoNews Digest. Stay tuned for that!


GET PAID REPORT FOR 31/10/2022

Here is the list of the programs from my monitor that paid me for the last 168 hours:
From MNO Sticky list: –
From MNO Premium list: –
From MNO Standard list: –
From MNO Basic list: ShuttleRent.

As always thanks for checking out my blog, I really appreciate your much valued support. Have a spooky Halloween, everyone, and talk to you all again soon on MNO – For Money Lovers!

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