Hello guys. Welcome to the MNO blog which has been delivering you the essential information on HYIP investments for nearly sixteen years now. Originally founded back in 2007 my blog has never stopped educating readers on the subject and I also recently spread dividing my attention to the cryptocurrency markets in the weekly news digests from which I post every Monday.

Unfortunately, last week we watched with astonishment as the greatest program of 2023 so far called ShuttleRent went south. Nothing seems to have indicated the issues as the site kept paying until there was an issue with the database which prevented seeing members’ balances and other operations. To the admin’s credit he disabled accepting deposits as well while trying to fix the database, but apparently the damage has been done and ShuttleRent‘s website has never returned from the unscheduled downtime. There was no further communication with the admin, so we could only guess what exactly happened with the program. I personally believe that this has not been planned in advance and that the significant damage was perhaps impossible to fix and bring the site back without damaging its reputation and scaring off potential investors. Therefore, the probable hacking attempt (or any other serious technical issue) has likely spoiled the amazing 3 year+ run for ShuttleRent. That in itself doesn’t contradict the fact that the program has been brilliant once it lasted and that we will be looking forward to other programs this admin might bring to us in future.

If you don’t want to miss such great programs like ShuttleRent then the only way you ensure you will hear of them first is to follow MNO on Telegram, Facebook, or Twitter. By doing that you will be updated once anything worthwhile appears on my monitor that will help you to diversify your investment portfolio. And if you wish to receive the blog articles directly to your email address you may submit and confirm it on this page and join the thousands of subscribers I have already.

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And now when all introductions are said and done let’s have a look at the Weekly CryptoNews Digest. This time it will cover the period from May, 29 to June, 04, 2023. I will be offering you some latest news and trends that happened in the crypto market over the last seven days.

EXCHANGE RATE AND TRADING OVERVIEW

Bitcoin and Ether each experienced their first loss making month of the year in May 2023. Bitcoin finished the month down 8%, while Ether‘s showed a loss of only about 2%. That was a first for both of them so far this year year.

Here are some of the factors that contributed to the sell-off:
– Rising inflation: The US inflation rate hit a 40-year high of 8.6% in May, which raised concerns about the Federal Reserve’s plans to raise interest rates. Higher interest rates could make it more expensive to borrow money, which could lead to a slowdown in economic growth and a decline in demand for risky assets like Bitcoin.
– War in Ukraine: The war in Ukraine has also weighed on investor sentiment. The conflict has disrupted supply chains and led to higher energy prices, which could further slow economic growth.
– Regulatory uncertainty: Regulatory uncertainty in China and the US has also contributed to the sell-off. China has cracked down on cryptocurrency mining and trading, while the US Securities and Exchange Commission (SEC) has yet to approve a Bitcoin ETF.

Despite the recent sell-off, some analysts believe that the long-term outlook for Bitcoin and other cryptocurrencies remains positive. They point to the growing adoption of cryptocurrencies by institutions and businesses as well as the increasing number of people who are holding cryptocurrencies as investments.

BITCOIN LOSES QUARTER OF ITS MARKET SHARE

Staying on the subject of Bitcoin, it has lost a quarter of its market share over the past three months.

According to CoinMarketCap, Bitcoin’s market share was 41.2% on March 8, 2023, and it is now 31.7% as of June 5, 2023. This represents a loss of 9.5%.

There are a number of factors that have contributed to Bitcoin’s loss of market share. These include:
– The rise of altcoins: Altcoins, or alternative cryptocurrencies, have been gaining popularity in recent months. This has led to a decline in Bitcoin’s dominance of the cryptocurrency market.
– The bear market: The cryptocurrency market has been in a bear market since November 2021. This has led to a decline in the prices of all cryptocurrencies, including Bitcoin.
– Regulatory uncertainty: The regulatory environment for cryptocurrencies is still evolving. This has led to some investors becoming hesitant to invest in Bitcoin.

Despite the loss of market share, Bitcoin is still the most popular cryptocurrency. It has a market capitalization of over $600 billion, and it is the most widely accepted cryptocurrency.

It is still too early to say whether Bitcoin will be able to regain its lost market share. However, the long-term outlook for Bitcoin is positive. It is a scarce asset with a limited supply, and it has a number of potential use cases.

TETHER SURPASSED ALL-TIME HIGH MARKET VALUATION

Unlike Bitcoin, Tether seems to be doing much better when it comes to its market capitalization values. Last week Tether (USDT) has surpassed its all-time high market capitalization of $83.2 billion which happened on June 1, 2023. This is a significant milestone for Tether, as it is the first stablecoin to reach this level.

There are a few reasons why Tether has been able to reach this level:

First, the demand for stablecoins has increased in recent months. This is due to the volatility of the cryptocurrency market, as investors are looking for a more stable way to store their funds.

Second, Tether has been able to maintain its peg to the US dollar. This is important for investors, as it ensures that they can redeem their Tether for US dollars at any time.

Finally, Tether has been backed by a large amount of reserves. This gives investors confidence in the stability of Tether, and it has helped to drive demand for the token.

The surge in Tether’s market capitalization is a positive sign for the cryptocurrency market. It shows that there is a growing demand for stablecoins, and it could help to further legitimize the cryptocurrency industry.

However, it is important to note that Tether is a controversial asset. There have been allegations that Tether is not fully backed by US dollars, and there have been concerns about the transparency of Tether’s reserves.

Despite these concerns, Tether remains the most popular stablecoin in the world. It is used by a wide range of investors, and it is accepted by a growing number of cryptocurrency exchanges.

So we can conclude that however the future of Tether is uncertain, but its recent surge in market capitalization is a positive sign for the cryptocurrency industry.

ELON MUSK FACED NEW CHARGES OVER DOGECOIN

Elon Musk is facing new charges over Dogecoin. The Securities and Exchange Commission (SEC) has charged Musk with fraud, alleging that he made false and misleading statements about Dogecoin on Twitter.

The SEC alleges that Musk made false and misleading statements about Dogecoin on Twitter in order to pump up the price of the cryptocurrency and profit from his own investments. Specifically, the SEC alleges that Musk falsely claimed that Tesla would accept Dogecoin as payment for its products and that he would create a Dogecoin-backed cryptocurrency exchange.

The SEC is seeking a number of remedies, including monetary damages, an injunction prohibiting Musk from making false and misleading statements about securities, and a bar on Musk serving as an officer or director of a public company.

Musk has denied the allegations and has said that he will fight the charges. He has also said that he believes the SEC is trying to stifle innovation in the cryptocurrency market.

The case is still in its early stages, so it is too early to say what the outcome will be. However, the case is a significant development in the cryptocurrency industry and could have a major impact on the future of Dogecoin. I will keep an eye on that and will tell you more once new relevant information on the issue emerges.

COINBASE CLAIMS AI REPRESENTS OPPORTUNITY FOR CRYPTO

Coinbase, the largest US crypto exchange, has said that artificial intelligence (AI) represents an “important opportunity” for the crypto industry. If you’re interested in how the AI rapid development may affect the cryptomarket then you will be curious to find out about the recent research report that was published on June 1, 2023.

In the report the Coinbase analysts David Duong and Jesse Proudman said that AI could be used to improve a number of areas in the crypto space, including:
– Security: AI could be used to develop new security features for crypto wallets and exchanges, such as facial recognition and fraud detection.
– Compliance: AI could be used to help crypto businesses comply with regulations, such as Know Your Customer (KYC) and Anti-Money Laundering (AML) requirements.
– Trading: AI could be used to develop new trading algorithms and tools that can help traders make better decisions.
– Investment: AI could be used to develop new investment products and services, such as robo-advisors that can help investors manage their crypto portfolios.

Coinbase is not the only company that sees the potential of AI for the crypto industry. A number of other companies, such as Binance, Kraken, and Gemini, are also investing in AI research and development.

The adoption of AI by the crypto industry is still in its early stages, but it has the potential to revolutionize the way crypto is used and traded. As AI technology continues to develop, it is likely that we will see even more innovative applications of AI in the crypto space.

CRYPTO MILLIONAIRE FOUND DEAD

And we will end today’s Weekly CryptoNews Digest on a somewhat mysterious news story from the world of the rich and the famous.

Dr. John Forsyth was found dead with a gunshot wound in his home in Arkansas on May 30, 2023. He was 49 years old. The cause of death has not been released, but police are investigating.

Dr. Forsyth was a co-founder of ONFO coin, a cryptocurrency that uses a referral-based system to reward users for inviting others to the platform. He was a prominent figure in the crypto space, a frequentt speaker at crypto conferences and he was often quoted in the media. He was also a vocal advocate for the use of cryptocurrency to improve financial inclusion.

According to YahooFinance, Forsyth’s death is the latest in a series of mysterious fatalities among crypto enthusiasts and entrepreneurs. In April, Bob Lee, the creator of Cash App and former technology chief at Square, was stabbed to death in San Francisco. Last June, Mircea Popescu, a controversial Bitcoin billionaire, drowned in Costa Rica. Some speculate that their crypto fortunes may be lost forever without access to their private keys.

So, whether you’re poor or rich it’s always important to stay safe and remember that we live only once. So enjoy your life but remember to read the latest Weekly CryptoNews Digest on MNO which will be released next Monday.

That will be it for today, guys. Thanks a lot for your attention and I hope to see you soon again on MNO – For Money Lovers!