Hello guys. I’m back in London after my vacation and am ready to issue another post on the MNO blog which has been successfully running for over sixteen years. Having been established back in 2007, MNO has seen all the ups and downs of the HYIP industry, which was considered to be a big thing once upon a time.

As you might be aware of, the overall situation has changed since then and the HYIP industry is as good as dead at the moment. The good old admins have all abandoned the once lucrative money-making niche and their replacements are just a bleak shadow of the greatest ones MNO had to deal with before.

And with so many people now being able to actually trade cryptocurrencies without the high risks often associated with HYIPs, it’s simply impossible to believe that the industry will get back to its former glory anytime soon.

That doesn’t mean that the MNO blog and monitor is dropping the idea of following HYIPs completely – it just means that my site will switch attention to what really matters now. Except for major cryptocurrency trends and latest news from the crypto world I plan to replace HYIPs with other money-making opportunities that my readers can utilize to actually make a passive income with no risk whatsoever.

So, if you don’t want to miss some great paying websites that will actually make you some profits then the only way you ensure you will hear of them first is to follow MNO on Telegram, Facebook, or Twitter. By doing so you will be updated once anything worthwhile appears on my monitor that will help you to add more options to earn some discretionary income for yourselves. And if you wish to receive the blog articles directly to your email address you can submit and confirm it on this page and join the thousands of subscribers I have already.

If you have any questions for me I’m easy to reach on Telegram @mnoblog and you may also email me directly at abramsonp@gmail.com or submit your query via this online form. I’m looking forward to hearing from you, guys!

And now with all introductions said and done let’s have a look at the Weekly CryptoNews Digest. This time it covers the period from October, 02 to October, 08, 2023. I will be offering you some latest news and trends that happened in the crypto market over the last seven days (and maybe some entertaining news as well connected to the crypto as well). Let’s get down to business, shall we?

JACK DORSEY’S NEW BITCOIN WALLET BITKEY TO BE LAUNCHED

You might have heard of Jack Dorsey who is widely known to the public as the co-founder and former CEO of Twitter. So last week we heard some exciting news coming from his payment company Block which appears closer to going public with its first Bitcoin hardware wallet product, called BitKey.

A beta tester recently shared images of the device, which is shaped like a compact hexagon. The wallet also features a fingerprint sensor for added security.

Block first announced the BitKey hardware wallet in 2022. The company has said that the device is designed to be easy to use and secure, and that it will allow users to store and manage their Bitcoin holdings without having to rely on a third party.

The BitKey hardware wallet is expected to be competitively priced, making it more accessible to a wider range of users.

Block’s entry into the hardware wallet market is significant for several reasons:
– First, it shows that the company is committed to Bitcoin and to helping people self-custody their crypto assets.
– Second, it could help to legitimize the hardware wallet market and make it more mainstream.
– Third, it could help to drive down the cost of hardware wallets, making them more affordable for everyone.

The BitKey hardware wallet is still in beta testing, but it is expected to be released to the public in the coming months.

Overall, the BitKey hardware wallet is a promising new product for the Bitcoin community. It is well-designed, secure, and easy to use. It is also expected to be competitively priced. The BitKey hardware wallet could help to make Bitcoin more accessible and secure for everyone.

CALLS TO ELON MUSK TO REMOVE SATOSHI NAKAMOTO’S X ACCOUNT

As you might know now, Twitter has been under the new management of Elon Musk and is being rebranded as X. So, on October 3, 2023, members of the crypto community rallied behind a post on X calling for owner Elon Musk to remove a profile claiming to be the fabled creator of Bitcoin, Satoshi Nakamoto.

The profile, which has over 1.7 million followers, has been active since 2010, but has never provided any concrete evidence to support its claim of being Satoshi Nakamoto.

In their post, user Pledditor called for the account to be removed, arguing that it was misleading and deceptive. Pledditor pointed out that the account has been used to promote various cryptocurrency projects, some of which have turned out to be scams.

Pledditor also argued that the account was harmful to the crypto community, as it perpetuated the myth that Satoshi Nakamoto is a real person who is still involved in the development of Bitcoin.

Pledditor’s post quickly gained traction, with many other users echoing their calls for the account to be removed. Some users also pointed out that the account had violated X’s terms of service by using a misleading identity.

As of October 9, 2023, the Satoshi ‘X’ account is still active. However, Musk has not responded to calls for the account to be removed.

It remains to be seen whether Musk will take action against the Satoshi ‘X’ account. However, the fact that so many members of the crypto community are calling for the account to be removed suggests that there is a growing consensus that it is harmful to the community.

COINBASE OBTAINS SINGAPOREAN LICENSE

Coinbase, the world’s largest listed crypto exchange, obtained a Major Payment Institution (MPI) license from the Monetary Authority of Singapore (MAS) last week. The license allows Coinbase to offer a wide range of digital payment token services to individuals and institutions in Singapore, including: buying and selling cryptocurrencies, storing cryptocurrencies in a digital wallet, sending and receiving cryptocurrencies, and using cryptocurrencies to pay for goods and services

The MPI license is the highest level of payment license in Singapore and is subject to strict regulatory requirements. To obtain the license, Coinbase had to demonstrate that it has robust risk management and compliance systems in place.

Coinbase’s acquisition of the MPI license is a significant development for the company and for the crypto industry in Singapore. It shows that Coinbase is committed to operating in a compliant and responsible manner, and that Singapore is a welcoming environment for crypto businesses.

The MPI license is also a testament to Coinbase’s strong track record. The company was founded in 2012 and has grown to become one of the most trusted and reliable crypto exchanges in the world. Coinbase serves over 98 million customers in over 100 countries and has processed over $3 trillion in transactions.

Coinbase’s expansion into Singapore is part of its broader strategy to grow its global presence. The company has already established operations in several other countries, including the United Kingdom, Australia, and Japan.

JPMORGAN CLAIMS ETHEREUM BECAME MORE CENTRALIZED

In a research report published on October 6, 2023, JPMorgan analysts led by Nikolaos Panigirtzoglou claimed that the Ethereum network has become more centralized since the Merge and Shanghai upgrades.

The report cited two main reasons for this:
– The rise of liquid staking platforms: Liquid staking platforms allow users to stake their ETH without having to run their own nodes. This has made it easier for more people to participate in staking, but it has also led to a concentration of staking power in the hands of a few large platforms.
– The decline in the number of active validators: The number of active validators on the Ethereum network has declined since the Merge. This is because staking requires a significant investment of ETH, and many people are reluctant to stake their ETH in a volatile market.

The JPMorgan report also noted that the centralization of the Ethereum network could pose a number of risks, including:

– Reduced security: A more centralized network is more vulnerable to attack. If a few large validators were to collude, they could potentially take control of the network.
– Reduced censorship resistance: A more centralized network is also more vulnerable to censorship. If a few large validators were to censor transactions, they could potentially prevent people from using the network.
– Increased market manipulation: A more centralized network is also more vulnerable to market manipulation. If a few large validators were to coordinate their buying and selling of ETH, they could potentially manipulate the price of ETH.

The JPMorgan report’s claims have been met with skepticism from some members of the Ethereum community. Some critics have argued that the report is based on flawed assumptions and that it does not take into account all of the factors that contribute to Ethereum’s security and decentralization.

Other critics have argued that the JPMorgan report is simply trying to scare people away from Ethereum in order to promote the bank’s own interests.

It is important to note that the JPMorgan report is just one perspective on the issue of Ethereum’s centralization. There are other experts who believe that Ethereum is still sufficiently decentralized and that the risks of centralization are overblown.

Ultimately, it is up to each individual to decide whether or not they believe that Ethereum’s centralization is a concern.

SCAM TRICK LEADS TO 234 ETH STOLEN DUE TO SIM- SWAPPING

Staying on the subject of Ethereum, I couldn’t help but bring you new scamming tactics to be aware of. On October 4, 2023, a scammer stole 234 ETH in less than 24 hours by SIM-swapping four unsuspecting Friend.Tech users. SIM-swapping is a type of fraud in which a scammer gains control of a victim’s phone number by transferring it to a new SIM card. This allows the scammer to access the victim’s online accounts, including their cryptocurrency wallets.

The scammer in this case used a variety of methods to gain control of the victims’ phone numbers, including social engineering and phishing attacks. Once the scammer had control of the victims’ phone numbers, they were able to access their Friend.Tech accounts and steal their ETH.

This attack is a reminder of the importance of cybersecurity and of the need to be careful about who you share your personal information with. It is also a reminder of the risks associated with storing cryptocurrency on centralized exchanges.

Here are some tips to help protect yourself from SIM-swapping attacks:
– Be careful about who you share your personal information with, especially your phone number.
– Be suspicious of unsolicited phone calls and emails.
– Do not click on links in emails or text messages from unknown senders.
– Use a strong password manager to create and store unique passwords for all of your online accounts.
– Enable two-factor authentication (2FA) on all of your online accounts, especially your cryptocurrency wallets.
– Consider storing your cryptocurrency in a hardware wallet, which is a more secure way to store crypto than on a centralized exchange.

If you believe that you have been the victim of a SIM-swapping attack, you should contact your mobile carrier immediately and report the incident. You should also contact the support teams for any online accounts that you believe may have been compromised.

SAM BANKMAN-FRIED IN PREPARATION FOR CRIMINAL TRIAL

From the previous issues of MNO Weekly CryptoNews Digest you might remember that Sam Bankman-Fried, the former CEO of the collapsed crypto exchange FTX, is facing a reckoning in the form of a criminal trial in the United States. Jury selection began on October 10, 2023, and the trial is expected to last six weeks.

Bankman-Fried is facing seven criminal counts, including wire fraud, securities fraud, and money laundering. He is accused of orchestrating a yearslong fraud that siphoned billions of dollars from FTX customers to finance political contributions, venture capital investments, and luxury real estate purchases.

Bankman-Fried has pleaded not guilty to all charges. He has claimed that he made honest mistakes but that he never intended to defraud anyone.

The trial is being closely watched by the crypto industry and by regulators around the world. It is seen as a test case for the future of crypto regulation.

If convicted, Bankman-Fried could face up to 20 years in prison. He could also be ordered to pay billions of dollars in fines and restitution.

The trial is expected to shed light on the inner workings of FTX and on Bankman-Fried’s role in the collapse of the exchange. It is also likely to raise questions about the regulation of the crypto industry.

The outcome of the trial could have a significant impact on the future of crypto. If Bankman-Fried is convicted, it could lead to increased regulation of the industry and to a decline in investor confidence. On the other hand, if Bankman-Fried is acquitted, it could be seen as a vindication of the crypto industry and could lead to more widespread adoption of cryptocurrencies.

I will be closely watching the process and will report on its progress in the upcoming issues of the MNO Weekly CryptoNews Digest, so stay tuned for more!

That’s about it for this latest Weekly CryptoNews Digest on the MNO blog. I’ll be posting the next update on cryptocurrency in a week, and there will be all the latest developments and news covered. So, if you’re genuinely interested in what is going on in the cryptocurrency world, then make sure you check it out next Monday.

As there is nothing to cover on HYIPs this week that will be it for tonight, guys. I hope your business week will be fruitful and productive and I will be back with the next blog post in a few days time. Keep following MNO – For Money Lovers!