Hello guys! Welcome again to another issue of the MNO Weekly CryptoNews Digest that will bring you more understanding on how the crypto industry works. The last week has been quite eventful so as always I will do my best to provide you a glimpse on what is going on with BitCoin and the other major cryptocurrencies everyone has been talking about.

Before getting to the main points of today’s article let me remind you a few things if you have been new to MNO and only came across my blog by accident.

I have been covering the HYIP industry since 2007, so over fifteen years of experience in the field should have made me sort of an expert if we can argue that such a thing even exists. Unfortunately, the year of 2020 has not only brought us the infamous Covid pandemic but also signified the end of the era for the major HYIPs run by professional admins who left the industry and didn’t return. Since then the good investment ops come very rarely and pretty much appear sporadically which makes them even harder to find.

That is why it’s still important to still follow MNO on Telegram, Facebook, or Twitter, or click here to subscribe to have my blog articles delivered directly to your email address in their entirely. Although there is not much hope we will see a truly big investment opportunity anytime soon keeping your eyes peeled for something exciting to pop up in the near future might just get rid of fear of missing out later. And remember that you can always stay in touch with me by emailing at abramsonp@gmail.com Alternatively, submit this online contact form or chat with me live on Telegram @mnoblog – it’s that simple!

Despite the overall disastrous state of things in the HYIP industry I must say that so far ShuttleRent has been a company I have really been impressed with. Even in the golden era of HYIPs it would have been considered an excellent performer. And especially it can be said of the current dry times with very few programs deserving your attention and the industry generally offering nothing but a bunch of low grade scams.

ShuttleRent has been a very pleasant exception to that rule as the program has been running for over three (!) years now without missing a single payment. Some daily deposit limits have been implemented by the admin from the start while the exclusive acceptance of Tether and Tron should have contributed well to a slow but steady level of growth.

ShuttleRent offers some decent but more importantly realistic returns of 3% paid daily on business days (Monday to Friday) while on Saturdays and Sundays the interest gets reduced to 1.25%. In summary that should give you a total of 125.5% ROI after the investment period of 50 calendar days. A reasonable return for the vast majority of investors who have been already enjoying receiving instantly processed withdrawals to their Tether USDT and Tron wallets. Overall, the program has been great and hope it will stay paying well for some time and I cannot recommend ShuttleRent enough!

Now getting back to the main subject of today’s MNO blog article let’s see the main events happening in the crypto-related world in the regular Weekly CryptoNews Digest. This time we will focus on the main events that have shaken and stirred the crypto market last week, February 13 to February 19, 2023.

SEC PURSUING BINANCE IN US COURTS

The firm behind Binance’s Stablecoin, Paxos Trust Company, said the U.S. Securities and Exchange Commission (SEC) has told the company it should have registered the product as a security and is considering taking action against the platform. In a statement on Monday, Paxos said it disagreed with the SEC’s allegations that Binance USD is a security and is prepared to what they themselves describe as “vigorously litigate” if necessary. God bless America, eh! Then again, I guess it’s how things get done in the real world. The announcement comes hours after the New York Department of Financial Services (NYDFS) said in a consumer alert it has ordered Paxos to stop minting Binance USD, citing “unresolved issues” in Paxos’ oversight of its relationship with Binance. If memory serves me correctly that would be the same group who took down LibertyReserve so there’s very little point in wasting your time arguing with these guys.

An NYDFS spokesperson said that Paxos violated its obligations for “tailored, periodic risk assessments” and due diligence checks on Binance and Binance USD customers needed to stop “bad actors from using the platform.” Paxos replied that it would stop issuing new Binance USD, which is backed by traditional cash and U.S. Treasury bills, but would continue to support and redeem the tokens for at least another twelve months.

In a subsequent war of words confirming that the SEC had put the firm on notice, Paxos said “there are unequivocally no other allegations” against the company. “Paxos has always prioritized the safety of its customers’ assets,” the company said in the statement. An SEC spokesperson said the agency does not comment on the existence or nonexistence of a possible investigation. Stablecoins, digital tokens typically backed by traditional assets that are designed to hold a steady value, have emerged as one of the key cogs in the crypto economy. They are used for trading between volatile tokens like bitcoin and, in some emerging economies, as a means to protect savings against inflation. The NYDFS move represents a setback to Binance’s efforts to gain market share from larger StableCoin rivals such as Tether and USD Coin, analysts said. The loss the New York regulated status offered by Paxos may also hurt Binance’s appeal to larger investors, they said. It is a big setback for Binance it was admitted. It remains to be seen whether (and when) Binance will be able to find a U.S.-based partner for its StableCoin. The latter appears crucial in the wake of U.S. regulation on StableCoins that is coming sooner rather than later.

SEC INVESTIGATES ASSET CUSTODY

Staying in the US for the moment, and particularly with the SEC who are of course rarely far from the news anyway, they voted on Wednesday to propose sweeping changes to federal regulations that would expand custody rules to include assets like crypto and require companies to gain or maintain registration in order to hold those customer assets. The proposed amendments to federal custody rules would “expand the scope” to include any client assets under the custody of an investment advisor. Current federal regulations only include assets like funds or securities, and require investment advisors, like Fidelity or Merrill Lynch, to hold those assets with a federal- or state-chartered bank, with a few highly specific exceptions. It would be the SEC’s most overt effort to rein in even regulated crypto exchanges that have substantial institutional custody programs serving high-net-worth individuals and entities which custody investor assets, like hedge funds or retirement investment managers.

The move poses a fresh threat to crypto exchange custody programs, as other federal regulators actively discourage custodians like banks from holding customer crypto assets. The amendments also come as the SEC aggressively accelerates enforcement attempts.

FTX LOSERS TO SUE ADVERTISERS

I must say I’m in two minds about this story. While I can’t say I’m entirely disappointed with the news or feel much sympathy, I also have to wonder what the point is and ask if the alleged victims shouldn’t share some responsibility for their own misfortune.

According to a complaint filed last week in San Francisco federal court, Sequoia Capital, Thoma Bravo and Paradigm were “incentivized” in 2021 and 2022 to tout FTX by the more than $550 million they invested prior to its sudden collapse. The lawsuit seeks unspecified damages for alleged violations of California consumer protection laws, as well as fraudulent inducement, intentional misrepresentation and civil conspiracy. Earlier litigation accused celebrities like football quarterback Tom Brady, basketball guard Stephen Curry and actor Larry David of improperly inducing people to invest with FTX. Personally speaking I have to say Larry David has to go down in history as one of the funniest people ever, except there’s not much funny about this. For the record SBF himself hasn’t been charged in this particular case. As is already a matter of public recorcd the 30-year-old son of Stanford Law School professors has pleaded not guilty to fraud and other charges for allegedly looting billions of dollars from FTX customers. He is living with his parents as part of his $250 million bail package.

US REGULATORS CHARGE SOUTH KOREAN CRYPTO BOSS WITH FRAUD

US financial regulators have charged failed South Korean cryptocurrency boss Do Kwon and his company Terraform Labs with “orchestrating a multi-billion dollar crypto asset securities fraud“. The Singapore-based firm created the Terra Luna and TerraUSD tokens, which collapsed spectacularly last year. The collapse is estimated to have cost investors more than $40bn (£33.5bn). Mr Kwon and Terraform Labs did not immediately respond to a BBC request for comment. “We allege that Terraform and Do Kwon failed to provide the public with full, fair, and truthful disclosure as required for a host of crypto asset securities, most notably for Luna and TerraUSD,” US Securities and Exchange Commission (SEC) chairman Gary Gensler said in a statement. “We also allege that they committed fraud by repeating false and misleading statements to build trust before causing devastating losses for investors,” he added.

According to the SEC, Mr Kwon and his company raised billions of dollars from investors by selling them “an interconnected suite of crypto asset securities” with many transactions being unregistered. The SEC also alleged Mr Kwon and Terraform claimed repeatedly that the tokens would increase in value, and misled investors about the stability of TerraUSD. However, the value of the token and its linked Luna cryptocurrency plunged to close to zero in May last year. Globally, investors in TerraUSD and Luna lost an estimated $42 billion, according to blockchain analytics firm Elliptic. It triggered a sell-off in major cryptocurrencies such as Bitcoin, Ethereum and Tether. As a result the term cryptocrash trended online. “I am heartbroken about the pain my invention has brought on all of you,” Mr Kwon said at the time. The SEC complaint, which included other allegations, did not state where Mr Kwon was located. In December, South Korean authorities, who have issued an arrest warrant for Mr Kwon, said they believed he was in Serbia. Mr Kwon had previously denied that he was in hiding, but did not reveal his whereabouts. “For any government agency that has shown interest to communicate, we are in full cooperation and we don’t have anything to hide,” he said on Twitter. Mr Kwon faces charges of fraud and breaches of capital markets law in his home country of South Korea.

That’s all I had to report in today’s Weekly CryptoNews Digest on MNO. You’re welcome to come back next Monday for another overview of the news that made people talk.

GET PAID REPORT FOR 20/02/2023

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.

And that’s over and out for today’s article on MNO, guys. Thanks a lot for reading and all your support through the years. Have a wonderful and successful week ahead and I will talk to you again soon on MNO – For Money Lovers!