17/04/2023. Weekly CryptoNews Digest

Hello everyone! The recent bullish trend in the cryptocurrency markets has resulted to BTC surpassing the $30K mark last week while Ether has firmly established itself at above the $2K mark. All of that has inspired a great deal of confidence in crypto investors still reeling from the wounds of last year which saw BitCoin and other major coins drop in value quite significantly. Whether achieving the next maximum peaks on the horizon remains to be seen, however the upward trend is clearly there and is hopefully here to stay for the next few months.

Having a particular positive outlook in mind we should also hope that the HYIP market will win some extra attention later in the year. At least some potential investors might be more inclined to invest in new promising HYIPs now that their crypto vaults are getting bloated in value now more than any time in the recent past. And during these times it’s becoming more and more important to follow MNO on Telegram, Facebook, or Twitter in order not to miss any potential industry leaders from long-term HYIP admins who might be the ones coming back to the HYIP world after a long absence.

If you like the articles posted on the MNO blog then it would be the next most logical step for you to join hundreds of subscribers to my newsletter by submitting and confirming your email address from this page. That way you will make sure not to miss any important updates from the HYIP market – once very active but for some time now being in a hibernating state.

And don’t be shy to stay in touch, guys! Whether you’re an admin looking to promote a new HYIP or just a regular MNO reader you’re always welcome to talk to me on Telegram @mnoblog. Alternatively, email me directly at abramsonp@gmail.com or submit your query using this online form to receive a response from me within 24 hours maximum.

Now I guess it’s time to get back to the main subject of today’s news article on my blog – covering the most prominent and talked about news and events in the cryptocurrency industry that happened over the last week, from the 10th to 16th of April, 2023. So I present you the latest Weekly CryptoNews Digest on MNO.

A RISING TIDE FLOATS ALL BOATS

I know the headline is a cliché but in many cases these can be true. BitCoin breached the key $30,000 level for the first time in 10 months on Tuesday, adding to its steady gains as investors raised hopes that the US Federal Reserve will soon end its aggressive monetary tightening campaign. BitCoin peaked at $30,938 in Asian trade and was last up almost 2% at $30,233. It has gained nearly 6% since the start of the the month of April along, and that follows a rise of 23% in March. Investors are awaiting a U.S. inflation report on Wednesday to assess the Fed’s next steps after banking sector turmoil in March raised expectations that the central bank would let up on rate hikes to ease stress on the sector.

Tens of millions of dollars flowed into the crypto sector last week alone, around $57 million according to some sources, which in turn gave a major boost spilling over to the next crypto giant Ethereum. A distant second/cousin to BTC perhaps, but nevertheless still a major player has benefited from the situation as well. It hit $2,133 last week. That’s an eight month peak I believe. Not trying to encourage speculation here, but good luck if you think you’ll get that kind of return from a main street bank!

TWITTER ENABLES ETORRO CRYPTO INVESTMENTS

Twitter will let its users access stocks, cryptocurrencies and other financial assets through a partnership with eToro, a social trading company. Starting in a few days from now, a new feature will be rolled out on the Twitter app. It will allow users to view market charts on an expanded range of financial instruments and buy and sell stocks and other assets from eToro. Currently, it’s already possible to view real-time trading data from TradingView on index funds like the “Standard and Poors” (S&P) 500 and shares of some companies such as Tesla. Obviously Tesla since it’s owned by the same person as Twitter, but whatever. That can be done using Twitter’s “cashtags” feature — you search for a ticker symbol and insert dollar sign in front of it, after which the app will show you price information from TradingView using an API.

With the eToro partnership, Twitter cashtags will be expanded to cover far more instruments and asset classes, according to eToro news anyway. You’ll also be able to click a button that says “view on eToro,” which takes you through to eToro’s site, and then buy and sell assets on its platform. The partnership marks a rare and noteworthy business deal for Twitter since Elon Musk took the reins as CEO after buying the platform for $44 billion last year.

YET ANOTHER HACK THIS TIME IN SINGAPORE

Hackers drained $23 million from a wallet belonging to Singapore-based crypto exchange Bitrue last week according to a news report. Bitrue did not specify how the attack took place but stated “We have identified a brief exploit in one of our hot wallets on 14 April 2023. We were able to address this matter quickly and prevented the further exploit of funds”.

Bitrue said, adding the team was investigating the situation. The attackers were able to withdraw assets worth approximately 23 million USD in various crypto currencies. Bitrue said the affected wallet contained less than 5% of overall reserves and the remaining wallet was not compromised. The exchange has temporarily suspended all withdrawals. It expects to reopen withdrawals on Tuesday. Bitrue trades an average of over $1 billion a day, according to online stats, with BitCoin and Ether among the most-traded token pairs.

SEC MAKES ANNOUNCEMENT ON CRYPTO EXCHANGES

In news from America the U.S. Securities and Exchange Commission met on Friday to open public comment again on its proposal to expand the definition of an “exchange,” clarifying that its existing rules on exchanges also apply to decentralized cryptocurrency platforms. The SEC voted 3-2 to take additional comments from the public after crypto firms criticized the plan as vague and aimed at roping in decentralized finance platforms, also known as DeFi platforms that would otherwise not be subject to the regulator’s oversight.

DeFi-platforms allow users to lend, borrow and save in digital assets, bypassing the traditional gatekeepers of finance such as banks and exchanges. The plan, first proposed in January 2022, would expand the definition of an exchange to include platforms that use “communication protocols” such as request-for-quote systems. The change, if adopted, is expected to capture many more venues for regulation beyond traditional exchanges that bring together orders from multiple buyers and sellers in a marketplace. The proposal was aimed at Treasury markets and marketplaces for other government securities, where inter-dealer crypto brokers have functioned like exchanges without registering them as such. But crypto firms pushed back on the plan amid growing tensions with the regulator. Many in the industry have said existing securities regulations are inappropriate and the sector needs fresh rules.

CHINESE BANKS GET MORE INVOLVED IN HONG KONG CRYPTO

Hong Kong’s push to become a crypto hub has opened an opportunity for not just crypto companies but many state-affiliated banks in China. The Chinese banks have shown interest in building partnerships and onboarding regulated crypto companies in Hong Kong, despite a blanket bank on crypto-related activities in mainland China. The Hong Kong arm of the major Chinese state-owned Bank of Communications is collaborating with several cryptocurrency businesses registered in the city. The bank is in talks to open accounts for regulated companies, according to a report published in The Wall Street Journal. In addition to the Bank of Communications, ZA Bank — Hong Kong’s largest virtual bank controlled by Chinese internet insurer ZhongAn Online P&C Insurance — will also act as the settlement bank for the crypto companies. The banks will together facilitate the depositing and withdrawal of fiat currencies. Along with providing account services to cryptocurrency businesses, these banks will serve as settlement banks to enable token deposits at authorized exchanges to be withdrawn in Hong Kong dollars, Chinese yuan and U.S. Dollars.

Earlier in the year Hong Kong’s financial secretary clarified that the city is pushing to collaborate with more crypto firms in 2023. As a result of the government’s progressive crypto approach, nearly 80 cryptocurrency firms have shown interest in opening or expanding their business in the city. The government’s crypto push has attracted some surprising allies in the form of Chinese banks and funds. Besides onboarding crypto companies and opening bank accounts for regulated firms, the Chinese government-backed CPIC Investment Management launched two crypto funds. CPIC is the second-largest insurance firm in mainland China, and its newly launched crypto funds are focused on institutional investors China’s growing interest in crypto via Hong Kong has surprised many in the crypto ecosystem, as the country has carried out multiple crackdowns on crypto-related activities in mainland China.

I do hope you like my coverage of the crypto news and will be back next Monday for more of the most important news and events. Thanks for reading and stay tuned for more!

GET PAID REPORT FOR 17/04/2023

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

That’s just about everything I have for you today, guys. I hope you’re doing well and I wish you a successful week ahead. Thanks for staying with my blog and I will talk to you again very soon on MNO – For Money Lovers!