02/10/2023. Weekly CryptoNews Digest (September, 25 – October, 01)

Hello everyone, and greetings from the sunny Mediterranean coast of Israel where I’ve been spending my vacation over the last couple of weeks. The quiet state in the HYIP industry with no programs currently featured on the MNO monitor made me rethink the purpose of the MNO blog which has been running for over sixteen years already providing readers with valuable food for thought and highlighting the most promising money-making opportunities that can only be found online.

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 pale shadow of the best ones MNO once 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 September, 25 to October, 01, 2023. I will be offering you some latest news and trends that happened in the crypto market over the last seven days. Let’s get down to business, shall we?

ETHEREUM RISES IN ANTICIPATION OF FUTURE ETF LAUNCH

Last week Ethereum rose to the $1700 mark in anticipation of Valkyrie’s Ethereum futures launch. Valkyrie’s Bitcoin Strategy ETF, which already tracks Bitcoin futures, will be renamed the Bitcoin and Ether Strategy ETF and will begin tracking Ethereum futures as well. This is the first Ethereum futures ETF to be approved by the US Securities and Exchange Commission (SEC).

In addition to the Valkyrie ETF, other asset managers, such as VanEck and ProShares, are also seeking to offer pure Ethereum futures ETFs. If these ETFs are approved by the SEC, it could further increase institutional interest in Ethereum and boost its price.

The launch of Ethereum futures ETFs is seen as a positive sign for the Ethereum ecosystem, as it will make it easier for institutional investors to gain exposure to Ethereum without having to purchase the asset directly. This could lead to increased demand for Ethereum and drive up its price.

KRAKEN PLANNED EXPANSION IN THE US

Kraken, one of the largest cryptocurrency exchanges in the world, is reportedly planning to offer users trading services for stocks listed in the United States and exchange-traded funds (ETFs). The company is reportedly targeting a 2024 launch for the new service, which will be managed by a new division called Kraken Securities.

Kraken’s expansion into stock trading would make it one of the first cryptocurrency exchanges to offer a one-stop shop for both crypto and traditional assets. This move is likely to appeal to a wider range of investors, including those who are interested in both crypto and traditional markets.

Kraken’s expansion into stock trading is also a sign of the growing maturity of the cryptocurrency industry. As cryptocurrencies become more mainstream, investors are increasingly looking for ways to trade them alongside traditional assets.

There are a number of potential benefits to Kraken offering stock trading services:
– First, it would provide users with a more convenient way to trade both crypto and traditional assets in one place.
– Second, it could help to reduce the volatility of cryptocurrency markets by providing investors with more options for diversifying their portfolios.
– Third, it could help to legitimize the cryptocurrency industry by making it easier for institutional investors to gain exposure to crypto assets.

However, there are also some potential challenges that Kraken could face in offering stock trading services:
– First, the company will need to obtain the necessary regulatory licenses.
– Second, it will need to compete with established stock trading platforms such as Robinhood and Charles Schwab.
– Third, the company will need to ensure that its stock trading platform is secure and reliable.

Overall, Kraken’s expansion into stock trading is a positive development for the cryptocurrency industry. It is a sign of the growing maturity of the industry and it could help to make cryptocurrencies more accessible to a wider range of investors.

CHASE BANK TO BAN CRYPTO TRANSACTIONS IN THE UK

JPMorgan’s UK bank Chase will ban crypto transactions from October 16, 2023, due to an increase in fraud and scams. The ban will apply to all debit card and outgoing bank transfers.

Chase is the latest UK bank to restrict crypto access, following in the footsteps of NatWest, Lloyds, and Barclays. These banks have all cited concerns about fraud and scams as the reason for their restrictions.

The UK Financial Conduct Authority (FCA) has also warned consumers about the risks associated with investing in crypto assets. The FCA has said that crypto assets are “high risk, speculative investments” and that consumers should be prepared to lose all of their money.

The ban by Chase is likely to be met with disappointment by some crypto enthusiasts. However, it is important to note that the crypto industry is still relatively new and unregulated. This makes it more vulnerable to fraud and scams.

It is also important to note that there are other ways to gain exposure to crypto assets without directly investing in them. For example, investors can invest in crypto-related stocks or ETFs.

MICROSTRATEGY RESUMES BUYING THOUSANDS OF BITCOIN

MicroStrategy, the world’s largest corporate holder of Bitcoin, has resumed its Bitcoin buying spree, acquiring 5,445 more BTC for $147.3 million at an average price of $27,053 per coin. This purchase brings MicroStrategy’s total Bitcoin holdings to 158,245 BTC, which are currently valued at over $4.1 billion.

MicroStrategy’s CEO, Michael Saylor, is a staunch Bitcoin bull and has repeatedly said that he believes Bitcoin is a superior asset to gold and fiat currencies. He has also said that MicroStrategy intends to hold its Bitcoin for the long term, regardless of price fluctuations.

MicroStrategy’s latest Bitcoin purchase is a sign that the company remains confident in Bitcoin’s long-term prospects, even in the midst of a bear market. It is also a sign that MicroStrategy is committed to its Bitcoin strategy and is willing to invest heavily in the asset, even at current prices.

MicroStrategy’s Bitcoin purchases have been welcomed by many Bitcoin bulls, who see it as a sign of institutional adoption. However, some critics have argued that MicroStrategy is taking on too much risk by investing so heavily in a single asset class.

CRYPTO SCAMMER ARRESTED IN SINGAPORE

Su Zhu, the co-founder of the now-defunct cryptocurrency hedge fund Three Arrows Capital (3AC), was arrested in Singapore on September 29, 2023, while attempting to flee the country. Zhu and his co-founder, Kyle Davies, are both facing charges related to 3AC’s collapse, which resulted in losses of over $10 billion to investors.

3AC was one of the largest cryptocurrency hedge funds in the world, but it collapsed earlier this year due to a combination of factors, including the collapse of the TerraUSD stablecoin and the broader crypto market downturn.

Zhu and Davies have been accused of mismanagement and fraud. They are alleged to have misled investors about the fund’s financial condition and to have made risky investments with investor money.

Zhu’s arrest is a significant development in the 3AC saga. It is a sign that authorities are taking the collapse of the fund seriously and that they are committed to bringing those responsible to justice. Although in the interests of justice It is important to note that Zhu has not yet been convicted of any crime. So he is presumed innocent until proven guilty in a court of law.

The arrest of Zhu is also a reminder of the risks associated with investing in cryptocurrency. Cryptocurrency is a volatile and unregulated asset class, and investors should be prepared to lose all of their investment if they will be unfortunate enough to trust their money to scammers like that one.

NAPSTER CEO SHARES IDEA ON CRYPTO SPONSORING MUSIC ARTISTS

And finally, let us end our today’s Weekly CryptoNews Digest on MNO with the interconnecting news from both crypto and music industries.

Napster’s new CEO, Jon Vlassopulos, has a big, crypto-based idea for the next phase of music. He wants to create a platform where artists can sell their music directly to fans, without the need for intermediaries like record labels and streaming services.

Vlassopulos believes that this model would be more beneficial for artists, as it would allow them to keep a larger share of the profits from their music. He also believes that it would be better for fans, as they would have more direct access to the artists they love.

Vlassopulos plans to use blockchain technology to power this new platform. Blockchain is a decentralized ledger that can be used to track ownership of digital assets. This would allow artists to sell their music directly to fans, without the need for a third party to verify the transaction.

Overall, Napster’s new CEO has a big and ambitious idea for the next phase of music. If he is successful, he could create a platform that is more fair and equitable for both artists and fans. However, there are some challenges that need to be overcome before his vision can become a reality.

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 with all the latest developments and news covered. So, if you’re genuinely interested in what is going on in the cryptocurrency world, such as new projects and regulations, 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. Until then I will keep enjoying my vacation before returning to London later in the month. Keep following MNO – For Money Lovers!