Hello all! As usual Monday means another Weekly CryptoNews Digest where I try to cover some of the major news and events that made headlines last week, from February, 6 to February, 12, 2023 that I found most interesting. I will get to you just in a few moments time but first a few introductory words to new and current readers.

MNO has been online since 2007 and since then I’ve never missed a week without posting something on my blog. The year of 2023 won’t be any exception, even though the HYIP industry is yet to recover from the post-pandemic woes and the activities have been still negligent, to say the least. The only undeniable hit we have on our hands now and that has been an exceptional performer for already three (!) years is called ShuttleRent. This has been an amazing program paying instantly to Tether USD and Tron accounts and accepting investments starting from only a $10 minimum. ShuttleRent pays 3% on every business day (Monday to Friday) while on the weekends the daily interest goes back down to 1.25%. That will give you a decent 125.5% return at the end of your investment term with ShuttleRent for 50 calendar days. If you wish to try it out I would appreciate if you join the program under my referral link here.

Obviously, having the only HYIP on the MNO monitor now we would hope that the new year will bring some new promising programs to consider making part of your investment portfolio. So far it has yet to happen, but in any case keep an eye on my website to get regular updates. If you’re a subscriber then you will get the full blog articles delivered directly to your email address (click here to submit it and join the list of subscribers). It’s always worth following MNO on Telegram, Facebook, or Twitter, to find out about the latest additions or status changes first. And if you have any issues or questions I’m always available for a quick chat on Telegram @mnoblog Don’t hesitate to contact me directly at abramsonp@gmail.com or by submitting this online form for a guaranteed response within 24 hours.

And now let’s get back to the main subject of today’s post – Weekly CryptoNews Digest. We will see what events in the crypto market that kept people talking last week.

UK NEEDS “BRITCOIN” TO ANCHOR MONETARY SYSTEM

First story on the agenda this week is that the deputy governor of The Bank of England (and putting things in perspective that’s I believe the sixth biggest economy in the world) has concluded that a digital version of the UK pound sterling will probably be needed to maintain trust in the UK’s monetary system. He also set out limits such a currency’s use to preserve financial stability.

Speaking at UK Finance, John Cunliffe said the bank could not ignore the possibility that the use of cash would become increasingly irrelevant while new forms of money become more and more prominent, threatening trust in the traditional FIAT monetary system. These developments made it likely that the UK would need a digital pound to perform the so-called “anchor function” that cash has performed in the past.

The deputy governor also also outlined the bank’s response to concerns that the introduction of a digital pound could affect financial stability. The bank is likely to propose a temporary limit on digital pound holding of between £10,000 and £20,000 assuming such a thing was to come in to existence. That’s about $12,000 to $25,000 at the exchange rates at the time of writing, give or take a few bucks either side.

These limits would effectively mean that the majority of people could still receive weekly or monthly salary payments in digital format. While facing up to the fact that the bank could ultimately be wrong in all of this, a refreshing admission by a bank under any circumstances it must be said, it was also pointed out that this is a very forward looking approach that embraces the future and is probably going to have to be accepted sooner or later anyway.

A statement read that given how fast things have changed in other spheres, “we don’t always want to be five years away from this”.

SELF DECLARED BITCOIN INVENTOR LOOSES COPYRIGHT CLAIM

I suppose most of you will have heard the name Satoshi Nakamoto by now. In crypto circles it’s a bit like Clark Kent or Peter Parker. We don’t know what the real name is, but it’s the identity we’ve all come to associate with the creator of BitCoin. Whatever his real name, I doubt very much it was this guy anyway. Staying in the UK for the next news story, it seems one enterprising conman tried to take a bizarre case through the courts there claiming some sort of copyright over BitCoin. I mean considering the whole point of the exercise was to create a decentralized virtual currency in the first place, I’m not entirely sure who he was expecting to pay him any royalty checks.

Craig Wright‘s claim (that’s his name) was made against a host of defendants associated with Bitcoin, including several units of crypto exchange Coinbase. Wright claims the Bitcoin Satoshi Vision blockchain he created from another BitCoin fork is the authentic blockchain behind the BitCoin cryptocurrency. The presiding judge said the file format of BitCoin – the sequence of a header and list of transactions that together form a block – can’t be treated like a literary work because Wright can’t show how they were first recorded, a test known in copyright law as “fixation.” “I do not see any prospect of the law as currently stated and understood in the case law allowing copyright protection of subject matter which is not expressed or fixed anywhere,” the judge stated. “It remains the case that no relevant ‘work’ has been identified containing content which defines the structure of the BitCoin File Format,” although Wright and the two Wright-associated investment companies making the claim had been given “ample opportunity” to do so, it was added. Claims concerning copyright to the 2008 white paper and whether Wright is really the author will be the subject of later rulings, the judge said. Last week the U.K. Court of Appeal ruled that a claim by Wright’s Tulip Trading against 16 Bitcoin developers should go to trial in London. In a case heard in Oslo last year, multiple witnesses offered forensic evidence that documents supplied by Wright purporting to back up his claim to be Nakomoto contain discrepancies, such as fonts that weren’t available at the time.

Better luck next time Craig. Meanwhile try looking for a proper job if you need a few bucks.

ETHER EXCHANGE RATES TUMBLE

While not technically the most popular currency by any means, Ether is still a good indicator of what’s going on in the market. And this week, it’s taking a hit. At the time of writing it’s down about 8% to be exact, something you can probably live with if you were just trading the currency but a bit less attractive if you were using it to store money.

In this case the drop began after crypto exchange Kraken closed its so-called “staking program” as part of a $30 million settlement with the Securities and Exchange Commission, or the SEC. Earlier in the week, Coinbase CEO Brian Armstrong sounded the alarm on a potential regulatory crackdown on staking and staking services in the U.S. that may be underway. “Kraken’s move certainly casts a gloomy outlook for many crypto exchanges that offer staking as a service, but effects on proof-of-work cryptos, such as bitcoin and litecoin, should not be as severe as effects on proof-of-stake cryptos going forward,” said Yuya Hasegawa, crypto market analyst at Japanese BitCoin exchange Bitbank. The angst in the crypto market centers on the staking services offered by exchanges like Kraken as well as Coinbase. Staking is when investors lock up their cryptocurrency for a period of time to earn interest on it and to earn a position as a network validator, meaning they have the ability to verify and process transactions. Staking is available only on networks like Ethereum that operate using the “proof-of-stake” protocol. Bitcoin runs using the “proof-of-work” to confirm transactions.

BINANCE SUSPENDING DOLLAR BANK ACCOUNT TRANSACTIONS

Global cryptocurrency exchange Binance is reportedly suspending withdrawals and deposits in U.S. dollars using bank accounts starting from last week. Without providing a reason, a spokesperson for Binance stated that they are temporarily suspending USD bank transfers as of February 8th. Affected customers are being notified directly, however the statement continued that bank transfers using other fiat currencies and methods of buying and selling cryptocurrencies on Binance, such as using credit cards, Google Pay, and Apple Pay would remain unaffected.

A growing number of banks have been reducing their exposure to the crypto market following the collapse of crypto exchange FTX. Binance said last month that its banking partner Signature Bank will only process transactions exceeding $100,000 from the beginning February. The bank previously stated that it plans to reduce up to $10 billion in deposits from cryptocurrency clients. The Federal Reserve, the Federal Deposit Insurance Corporation (FDIC), and the Office of the Comptroller of the Currency (OCC) recently issued a joint statement warning banking organizations about crypto risks. “The agencies have significant safety and soundness concerns with business models that are concentrated in crypto-asset-related activities or have concentrated exposures to the crypto-asset sector,” the joint statement reads.

FINTECHGIANT REVOLUT TO OFFER CRYPTO STAKING

Market leading digital bank Revolut, has launched a new crypto feature which is available to its 25 million plus customers through the fintech’s financial super app. Revolut launched the crypto feature, called Staking in the UK and EEA, effectively taking another leap forward towards its mission to build the first super app for all-things-money, and is continuing to double-down on its promise to bring greater digital currency services to the banking space. Currently, customers can set up a ‘stop or limit’ order so they don’t have to time the market or use the Recurring Buy feature to average out volatility. Other features also enable users to round up any spare change in a cryptocurrency of their choice, from a list of close to 100 cryptocurrencies. In 2022, the number of cryptocurrencies available to Revolut customers increased by nine times in just twelve months.

The new feature unlocks extra benefits for customers investing in crypto with Revolut, giving them the ability to earn rewards for specific tokens (Ethereum, Cardano, Polkadot, and Tezos). In a statement released by Revolut, a bank spokesperson said: “The rewards are granted in the native token and customers can either stake their existing crypto balances for these tokens or buy and then stake the balance of one or more of the four tokens. The reward is based on the balance they staked. The payout, cadence and required minimum time to stake varies by token with customers able to earn up to 11.65% APY.”

I hope you enjoyed reading today’s Weekly CryptoNews Digest on MNO and will come back next Monday for information and excepts from the evolving world of cryptocurrencies that can be thrilling to explore.

GET PAID REPORT FOR 13/02/2023

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.

That’s just about all the news I have for you today, guys. Thanks a lot for reading and for staying with MNO – For Money Lovers!