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06/02/2023. Weekly CryptoNews Digest and New TalkBack Question

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Hello everyone, and welcome once more to the MNO blog for weekly newsletters relating to the world of cryptocurrencies and the best HYIPs out there. Established in 2007 MNO is aimed at providing the most reliable information coming from no-nonsense sources and unbiased reviews of the best investment opportunities around.

By the way, remember that on the MNO monitor we still have a brilliant performer in ShuttleRent that has been running for three years now. It currently accepts Tether USDT and Tron deposits in to 3% on weekdays and 1.25% on weekends plan. That effectively gives you a decent 125.5% ROI on your investment with ShuttleRent for a minimum to invest that starts with $10 making it literally affordable to all investors.

Of course, the year of 2023 has been quiet so far, but if you like the two programs that currently feature on the MNO monitor and would like to see more similar programs in the future then follow me on Telegram, Facebook, or Twitter. There you will find timely notifications about new additions to the HYIP list as well as possible status changes on already monitored programs.

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And remember you can always contact me beforehand if you have any questions, suggestions, or concerns. I’m always happy to receive any type of feedback from you which you can send by submitting this contact form or emailing me directly at abramsonp@gmail.com I’m also available on Telegram @mnoblog if you wish to chat.

So now it’s time to see what happened in the crypto industry over the last week, January 30 to February 05, 2023. The most interesting news and events as of my personal choice giving you a basic picture of what went on over the last week. Let’s begin the latest Weekly CryptoNews Digest, shall we?


BITCOIN SPRING CONTINUES

I suppose it’s fair to say that any move from “bad fortunes” to “mixed fortunes” is definitely a bona fide improvement, so even if BitCoin isn’t quite back to where we’d like it to be it’s still proving to be an extremely profitable gamble for anyone brave enough to take it on. Provided you’re still able to read the market ups and downs that is, and get in and out at the right time. With a gain of almost 40% this month, BitCoin is closing out its best month since an earlier 40% rally in October 2021 and its best January since 2013. Currently changing hands at almost $23,000 BitCoin has been trading over the past week at its highest level since August of last year. The largest cryptocurrency hasn’t given holders such an uplifting January in a decade.

In the 12 days following December’s inflation report released on Jan. 12, $1.3 billion worth of short positions on BitCoin were liquidated, or $611 million as net of long positions, according to crypto derivatives aggregator CoinGlass. Over the past week, the trend has reversed with $331 million in long positions liquidated, or $108 million net of short positions. Between January 10 and 20, which is when BitCoin saw its largest moves higher, speculation-driven momentum traders returned to the market, spearheading BitCoin breaking out from a range of between $15,700 and $18,000. Analysts say the next leg for BitCoin will likely be determined in the days following the Federal Reserve’s monthly rate hike decision.


TESLA AND MUSK NOT BENEFITTING FROM CRYPTO RALLY

One famous entrepreneur rarely far from the headlines, especially when it comes to crypto, is Elon Musk and some of his biggest business ventures Tesla and Twitter. Unfortunately for them they didn’t play the crypto markets quite so smart in the last year, resulting in massive losses. Mind you, I tend to think they’ll recover before too long! Tesla lost over $140 million betting on BitCoin last year, according to a Monday filing with the U.S. Securities and Exchange Commission. The electric car manufacturer took a $204 million impairment charge while gaining $64 million through converting BitCoin in 2022.

An impairment charge describes a reduction or loss in the value of an asset. It can occur because of a change in economic circumstances, like the crypto winter that gripped the market after the collapse of Terra Luna in May 2022. The annual disclosure to the SEC comes less than a week after Tesla’s quarterly earnings report, which included no BitCoin transactions but nonetheless saw the value of its holdings decline, generating a $43 million loss for the last four months of 2022.

In February 2021, Tesla invested a staggering $1.5 billion in BitCoin, making it one of the largest corporate holders of the cryptocurrency—second only to MicroStrategy. At the time, BitCoin traded at $46,364 per coin. By November 10, 2021, BitCoin saw its all-time high of $69,044 per coin, according to CoinGecko. But the good times did not last as BitCoin, and the rest of the cryptocurrency market, went into freefall in 2022. As of January 31, 2023, BitCoin is trading at around $23,051. Tesla’s impairment losses nearly doubled since 2021 when, in an SEC filing that year, Tesla reported a $101 million impairment loss on digital assets and $128 million gains after selling BitCoin in 2021. By October 2022, Tesla reported to investors that the company still held over $218 million in BitCoin after selling 75% of its holdings in July—around $936 million at the time.


CRYPTO INTEGRATION PLAN FOR TWITTER GATHERS PACE

On broadly the same subject, well, Elon Musk and his Twitter vanity project anyway, he appears to be proceeding with plans to integrate a payment system into Twitter. According to sources cited by international media, Elon’s lieutenant Esther Crawford is working on logistics and has formed a small team. Musk has previously stated his intention to create a payment system, and in mid-June 2022 mentioned the integration of cryptocurrencies. “I think it would make sense to integrate payments into Twitter so that it’s easy to send money back and forth, and fiat currency as well as crypto — essentially, whatever somebody would find useful,” Musk detailed during the first all-hands meeting with Twitter’s staff. Media sources say Twitter is also seeking regulatory registrations and state licenses. Those familiar with the subject said Twitter has started applying for financial licenses in several states. Newspapers also report that Musk appointed Crawford to the position of CEO of Twitter Payments. According to the FT sources, the payment system will initially handle fiat currencies, with plans to add cryptocurrencies later.

Before Musk took over Twitter, former CEO Jack Dorsey introduced a beta crypto tipping service and NFT features in 2021. In April 2022, Twitter worked with payments giant Stripe on piloting crypto payments. In November 2022 it was reported that Twitter registered with the U.S. Financial Crimes Enforcement Network (FinCEN) to legally process funds. During a Twitter Spaces audio podcast, Musk said he could see Twitter offering money market accounts and even debit cards. It should be noted however that it’s extremely difficult to establish a new name in this field and many new applicants simply give up in complete frustration.


RUSSIA’S BIGGEST BANK PLANS DEFI PLATFORM

Russia’s largest bank, Sberbank, will release a decentralized finance (DeFi) platform by May, according to a report by Russian news agency Interfax. The platform will initially be based on the Ethereum network, with users being able to access it using the MetaMask wallet extension. DeFi is a form of borrowing and lending that uses smart contracts and remove the need for intermediaries. Konstantin Klimenko, product director of Sberbank’s blockchain laboratory, said the bank’s DeFi network is running in a closed beta, which will turn into open testing on the first day of March. Klimenko, who was speaking before the Economic Congress on Friday, added that DeFi can displace traditional banking services in the future. This is not Sberbank’s first foray into crypto. In March 2022 it received a license from Russia’s central bank to issue and exchange digital assets and a few months before that it launched Russia’s first blockchain exchange-traded fund. Sberbank has more than 110 million customers in additional to one million corporate clients.


UK GOVERNMENT TO TIGHTEN CRYPTO REGULATIONS

According to TV news reports in the UK, the government there has just published proposals for crypto-asset regulation it hopes will manage the risks of what it perhaps rightly describes as a “turbulent industry“. The sector has had a calamitous year, with assets collapsing in value by an estimated 75% from their peak of about $3 trillion in November 2021. Ministers estimate up to 10% of UK adults now own some form of crypto. They plan to use existing regulations for the industry, rather than creating a bespoke regime. The Treasury says that will allow crypto to benefit from the confidence, credibility and regulatory clarity of the existing system for financial services, as set out in the UK government’s Financial Services and Markets Act from the year 2000.

It wants to create a level playing field between traditional and emerging financial services, where the principle is “same risk, same regulatory outcome“. But it also acknowledges some crypto businesses may simply choose to continue operating in offshore jurisdictions that “do not impose equivalent market-abuse rules“. The Treasury says its proposals – which it’s now consulting on – will lay down rules on crypto-asset promotions which are fair, clear and not misleading enhance data-reporting requirements, including with regulators implement new regulations to prevent so-called pump and dump, where an individual artificially inflates the value of a crypto asset before selling it.

Ministers say the measures will mitigate the most significant risks of crypto technologies, while “harnessing their advantages“. Economic Secretary to the Treasury Andrew Griffith said the government remained “steadfast in our commitment to grow the economy and enable technological change and innovation – and this includes crypto-asset technology“. “But we must also protect consumers who are embracing this new technology – ensuring robust, transparent and fair standards,” he added.

Even when the crypto market was booming, in 2021, calls for regulation were loud. After the chaos of 2022, the calls for order are now deafening. Hundreds of billions of pounds were wiped from the crypto landscape and companies and people went bankrupt thanks to scandal after scandal. The UK’s plan to finally put concrete proposals in place will be welcomed by consumer investors hit in their pockets. But I expect the consultation to be fiery, with many different groups wading into the debate about how to tame the wild beast of BitCoin and other digital coins. Part of the original appeal of cryptocurrency was its independence of traditional financial networks. Moves to allow establishment control will infuriate a core group of true believers. But with the right form of regulation, others will argue, the industry could truly blossom.

I hope you did enjoy looking over the most important events taken from the Weekly CryptoNews Digest on MNO. And if so, then come back next Monday for more. You’re always welcome, guys!


MNO TALKBACK – POLL RESULTS DRAWN AND NEW POLL QUESTION REVEALED

It seems that MNO readers are a very optimistic bunch after all! At least we can draw that conclusion from the final results of the latest poll that ran on the MNO TalkBack page over the last two weeks. 100% of voters said that BTC will reach new heights, and no one thought it would stay at the current levels or will decline once again.

I guess the optimistic mood derives from the upward rally and extremely positive expectations of crypto investors seen since the start of the new year, as quite frankly last year was a disastrous one. So all hail the new crypto spring, guys!

For the new question I want to ask you something slightly away from the world of HYIP and cryptocurrencies. As the Chinese lunar New Year has just passed last week we should look back and see what we expect to happen in 2023. The new poll on the MNO TalkBack page will run for a week and asks if your personal expectations and predictions of the rest of the year are better or worse for yourself. So, here is a simple question with two possible answers.

Do you think 2023 will be a better year than last year for you personally?

– Yes, I really believe it can be better
– No, I think things will only get worse

Thanks again for your votes which you may submit here and we will see how you feel next Monday. We have concluded that BTC price expectations are very high but will they match to your personal views? We will wait and see the results of the poll that will be drawn in the next blog post. Thanks for your votes on the MNO TalkBack page!


GET PAID REPORT FOR 06/02/2023

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, Rothstein&Bass (the first payments received).

That’s about all I have to report this Monday. Thanks a lot for reading MNO after so many years – it truly means a lot! I wish you a happy and successful week ahead and hope to see you back on my blog soon. MNO – For Money Lovers!

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