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Hello guys. I know it is a bit too late now but it is still Boxing Day as they call it in the UK, or Saint Stephen’s Day elsewhere so I would like to send you the best Christmas wishes and also congratulate you on the Happy New Year in advance. As I’m going to explore the Italian island of Sicily (and yes, visit many places from the second season of The White Lotus TV series as well!) the next post on my blog will be published in early January already. So here goes! If you like the posts you’re more than welcome to subscribe to MNO here and get the full posts sent directly to your email address. Join thousands of subscribers and become a part of the MNO community!

As to the current state of things in the HYIP industry I would advise you to exercise extreme caution if considering any investments now. As you might know, that any festive season and the end of a year in general is infamous for the amount of fast scams that are created by their owners with the single aim in mind of parting you from your hard-earned cash as quickly as possible. So please stay on the safe side and be smart with your investment choices!

If you still need a decent enough long-time performer in your portfolio then ShuttleRent might be an excellent choice for you. Although the program has been paying to PerfectMoney, Tether and Tron for a few years now (1,000+ days) the new investment plan introduced in September 2022 offers a flat 3% interest credited on weekdays with the reduced rate of 1.25% applied on Saturdays and Sundays. The investment term for ShuttleRent investors is 50 calendar days with the total return of 125.5% and the original investment included in profits. A pretty decent return and sustainable in the long-term as well if you ask me, plus instant payouts is always a welcome bonus that ShuttleRent provides investors!

Overall though, if you do follow MNO you should be fully aware that there were very few decent investment opportunities in 2022 and some would even argue it has been the worst year in the HYIP industry history. Still, there is always hope that in the New Year 2023 we will see much more attractive programs with great investment offers, but in the meantime you should look out for more on the MNO monitor and follow me on Telegram, Facebook, or Twitter. It’s also easy to stay in touch with me by emailing directly at abramsonp@gmail.com, submitting your query via this contact form, or just chatting with me on Telegram @mnoblog

If you’re an MNO regular reader, you might be aware that starting from the beginning of the year every Monday I offer a glimpse of what happened in the cryptocurrency market over the last seven days. It’s called the Weekly CryptoNews Digest and in it we discuss every worthwhile story that came up during the week before and try to see what impact it may have on and affect the “crypto winter” longevity. Let’s now see what events and news dominated the headlines over the last Christmas calendar week, December, 19, to December, 25, 2022.


BLOCKFI SEEKS PERMISSION TO WITHDRAW ASSETS

It’s easy to think these days that FTX and its disgraced owner Sam Bankman-Fried is the only story doing the rounds in the crypto world. Unfortunately that’s not the case since the contagion from the FTX case continues to spread. Another big crypto business, BlockFi, has now filed for bankruptcy.

Just to give you some background information, BlockFi sought permission from the US Bankruptcy Court to allow its customers to obtain their crypto holdings (locked in BlockFi Wallets due to the firm’s problems). The firm paused withdrawals on November 11, the same day FTX and Alameda Research filed for bankruptcy Proceedings in the US. It goes without saying that BlockFi has been one of the worst affected companies throughout the ongoing slump in the crypto market. It laid off around 20% of its staff as recently as June, highlighting the financial challenges it was facing. FTX stepped up, giving BlockFi a revolving credit worth $250 million. Shortly after, SBF’s former crypto giant was rumored to be close to acquiring the platform for $25 million. However, as FTX was also sent into bankruptcy later in the year, BlockFi’s condition didn’t get any better. The platform halted customer withdrawals and filed for bankruptcy protection. In a recent motion, the crypto lender sought permission to allow users to withdraw their crypto possessions from the BlockFi wallets. The company described the move as an “important step toward our goal of returning assets to clients.”

I wish them the best of luck, or to be more exact I would rather wish their clients the best of luck, in recovering as much of their funds as possible.


NEW TWITTER FEATURE CHARTS BTC AND ETH EXCHANGE RATES

I know a lot of readers will be users of social media websites so at it might interest you to know that Twitter is now incorporating crypto exchange rates into the platform should you wish to use them. Users can now track the USD valuation of the two largest cryptocurrencies by market cap by typing the assets’ names or their tickers on the search tap. The feature also shows their fluctuations compared to the previous day. The price charts are an addition to the existing “$Cashtags” option that displays the prices of numerous ETFs or leading stocks. Elon Musk, the ever present champion of cryptocurrency, praised his team for designing the integration.


SEC GIVES MORE SEVERE AUDITS

The U.S. Securities and Exchange Commission (SEC) is increasing its scrutiny of audits of cryptocurrency companies in an effort to warn investors who may feel assured by certain processes such as proof-of-reserve reports, according to news reports that cites a senior SEC official. “Investors should not place too much confidence in the mere fact a company says it’s got a proof-of-reserves from an audit firm,” said Paul Munter, the SEC’s acting chief accountant. Having such a report is not enough information for an investor to assess whether the company has sufficient assets to cover its liabilities is more or less the foundation of the report, but basically common sense in plain English if you ask me. In the aftermath of FTX’s collapse as many as nine crypto exchanges across the world announced they would publish transparency reports or Merkle tree proof of reserves to reassure spooked investors. A Merkle tree proof of reserves is a cryptographic data structure that maintains privacy but allows users to verify the stability of their holdings on exchanges, thereby creating trust.

The SEC is warning both investors and audit firms that if it finds troublesome “fact patterns,” the watchdog will consider a referral to the division of enforcement, according to Munter. The development assumes significance as questions have been swirling regarding Binance, the largest crypto exchange by trading volume, that did release a report of its proof of reserves but it was withdrawn two days later when the auditing firm it had hired, Mazars, announced it was no longer working with crypto firms. According to the WSJ report, Binance was looking for another audit firm after it was dropped by Mazars. Binance reached out to multiple large firms for help.


BINANCE TO AQUIRE VOYAGER

Binance will acquire the crypto assets and customer deposits of Voyager Digital in a $1 billion deal, weeks after a planned FTX-Voyager acquisition failed as a result of FTX ’s collapse and Sam Bankman-Fried’s arrest. Despite the nominal independence, Binance.us operates as a de facto subsidiary of the international Binance business, something I personally find confusing but for whatever legal/financial reasons they co-exist as independent business entities. Voyager filed for bankruptcy protection in July 2022, after crypto hedge fund Three Arrows Capital (3AC) defaulted on a significant loan position extended by Voyager. At the time of filing, the crypto exchange had approximately $1.3 billion in assets but was owed over $650 million by 3AC, compared with $5.8 billion worth of assets at the end of 2021. Apparently the Binance offer was by some distance the best one on the table, so for better or worse it’s kind of a case of “take it or leave it” with no obvious alternatives.


US SENATE DISCUSSING NEW STABLECOIN BILL

Finally for this week’s CryptoNews Digest it seems that digital currencies are moving further and further into mainstream acceptance, even at senior government level. In the US Republican Senator Pat Toomey, who is set to retire from office at the end of his current term, has used one of his last few weeks in office to introduce a new stablecoin bill, aimed at creating a regulatory framework for payment stablecoins. Senator Toomey who also serves as the ranking member of the U.S. Banking Committee said the Stablecoin TRUST Act of 2022 would serve as a framework for regulation for his fellow senators, who are looking to pass related legislation in the coming year.

If passed by Congress, the bill would permit non-state and non-bank institutions to issue stablecoins, as long as they obtain a federal license created and issued by the U.S. Office of the Comptroller of the Currency (OCC), and as long as the stablecoins are backed up by “high-quality liquid assets.” The stablecoin issuers must also comply with a new public disclosure standard, clearly outline redemption policies and provide regular attestations from authorized accounting firms. The bill would exempt stablecoin issuers from U.S. securities laws, so long as they don’t offer interest-bearing products or services or otherwise act like an investment or advisory firm.

I hope you enjoyed the Weekly CryptoNews Digest and come back next Monday for more news from the field. And now I would like to finally take a look at the results of the MNO TalkBack poll that was asked a few months ago. The question was about the prediction of the value of BitCoin by the end of 2022. And below you will be surprised to see how the MNO readers were right in their forecast!


MNO TALKBACK – POLL RESULTS AND NEW QUESTION POSTED

As this disastrous year comes to an end many people will be quite skeptical about what 2023 will bring us, while others will remain hopeful that the next year will be better than this one. It’s important to catch the mood of investors and see whether the HYIP industry stands any small chance to recover and actually feature some good quality programs we have been missing so this year. That’s the reason why I suggest the following poll that will be recording your votes on the MNO TalkBack page over the next couple of weeks.

Do you believe the HYIP industry will have better programs sometime in 2023?

– Yes, the next year will revert the industry back to its golden age
– Possibly, but not given, only if the world economy improves
– No, there is no way 2023 will be better for investors than 2022

Votes can be submitted on this page and I would like to thank in advance everyone who participates.

Now it’s finally time to take a look at the results of the previous poll which I kind of neglected to look at over the last few months. I remind you that the question asked the following: Due to the current economic downturn what do you think will happen to BTC by the end of 2022?

I’m pleased to say that the overall majority of readers were right or close to their moderate predictions of the price for BTC which at the moment of writing this hovers around the $17K mark.

43% of those voted in the poll said “BTC will further decrease to new lows due to uncertainties (below $15,000)”. Although it hasn’t happened yet BTC has come very close to that point. Maybe it will reach it over the closing days of the 2022. We will wait and see!

Another 22% voted that “BTC will remain at current reduced levels and stagnate ($15,000-$40,000)”. And that was actually the right answer, as BTC is at about $17K at the moment. Still, overall 65% of my readers were right in their conservative approach to BTC price over the more optimistic mood shown by some experts from the crypto world. As we know by now, the longer than expected “crypto winter” is well upon us now and no one knows when it ends!

And yet 22% of readers still were very optimistic (and wrong, as it appears!) because the variant they have chosen in the poll – “BTC will regain ground and will reach the new maximums ($70,000 or over)” which was clearly very far from the truth. Perhaps, if not the negative economic downturn worldwide due to post-pandemic woes and the horrific war in Ukraine would have played the cards differently for crypto investors. No one knows that for sure, but the forecast at the very beginning of 2022 was much more positive that cryptocurrencies has shown over the course of the year.

And finally, only 13% of readers voted that “BTC will rise in value but will remain below record highs ($40,000-$70,000)” which was not destined to happen either. The maximum BTC has reached over the last twelve months was around $47.5K which is well above the current trading level of around $17K.

Again, thanks everyone for voting in the poll and we will all be hoping for some sort of recovery in the coming year of 2023. However, judging by the negative economic forecasts and the looming recession in many developed countries it’s perhaps somewhat premature to be too optimistic in that regard. Especially considering cryptocurrencies have now very much connected to the general state of the world economy, as they become more regulated and more widely used by the general population, slowly making their way into the mainstream world economy – a trend that will most likely continue in 2023.

To close this TalkBack section I would like to encourage you to vote in the latest poll here. And I promise that I will update it with new questions more often in 2023.


GET PAID REPORT FOR 26/12/2022

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.

That’s about all the news I was about to report to you before bowing out until the second of January, 2023. Have a very Happy New Year, guys, and thanks for all your outstanding support in 2022. MNO – For Money Lovers!

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