MLM Network Zone

Under a Bitcoin system, we might once again learn to understand social systems as complex and organic structures that require decentralization. bit.ly/3f7o14k http://dlvr.it/SRNKYL

Despite being underwater on a portion of BTC positions, data shows long-term holders continuing to accumulate Bitcoin in its current range. from Cointelegraph.com News https://ift.tt/aQL2IsG via IFTTT

In response to surging inflation, Argentina has become an increasingly crypto-friendly country in terms of adoption. from Cointelegraph.com News https://ift.tt/JyLNnje via IFTTT

ETH price bounced off a major support level, and while $2,000 could be a short-term target, most analysts say it’s just a “relief rally.” from Cointelegraph.com News https://ift.tt/QzM5qrx via IFTTT

MoneyGram CEO Alex Holmes said the international remittances stalwart wants to be a bridge between the crypto and fiat worlds. from Cointelegraph.com News https://ift.tt/g4D1o0r via IFTTT

The elusive relief rally that BTC and ETH traders expected has arrived, but will the market sustain enough bullish momentum to catalyze a trend change? from Cointelegraph.com News https://ift.tt/GMw3izd via IFTTT

This week the Tron blockchain has become the third-largest network in terms of total value locked (TVL) in decentralized finance (defi) protocols. Interestingly, 48.19% of the TVL is held by the defi protocol Justlend, an application that’s similar to Anchor Protocol as it offers more than 20% APY for USDD deposits. Amid Tron’s TVL rising, the network’s stablecoin USDD has been confronted by skeptics over the similarities USDD holds with Terra’s UST. Tron Takes the Third-Largest Position in Terms of Total Value Locked in Decentralized Finance Protocols On May 30, 2022, Tron managed to become the third-largest defi blockchain in terms of total value locked. At the time of writing, Tron’s TVL in defi is $5.94 billion, which is just below the Binance Smart Chain (BSC) TVL and above the Avalanche (AVAX) TVL. Amid the Terra LUNA and UST fallout , on May 12, 2022, Tron’s TVL was $3.97 billion and the blockchain was ranked number five in terms of TVL size by chains. On that day, Tron’s T...

Ether risks turning overbought on shorter timeframes, amounting to sell-offs also as it retests a critical resistance level. from Cointelegraph.com News https://ift.tt/aTzDwt7 via IFTTT

The never-ending projects fantasized about by scientists promise much without actually delivering anything. bit.ly/3f7o14k http://dlvr.it/SRKcGg

On Memorial Day, we remember fallen soldiers and their sacrifice made toward protecting freedom. Like Bitcoin, freedom requires proof of work. bit.ly/3f7o14k http://dlvr.it/SRKBkX

Crypto exchange Binance has received regulatory approval from Italy’s financial regulator to operate as a cryptocurrency service provider in the country. “Clear and effective regulation is essential for mainstream adoption of cryptocurrencies,” said Binance CEO Changpeng Zhao. Binance Now Licensed in Italy Binance announced Friday that Binance Italy “has received regulatory approval” through registration as a Cryptocurrency Service Provider with the Organismo Agenti e Mediatori (OAM), as required by the Italian legislation on crypto assets. The announcement states: The registration of Binance Italy … allows the company to offer crypto products to its customers in Italy. Binance Italy, established in recent months, is the legal entity of the Binance Group in Italy. Earlier this month, Binance said it has received approval from the French financial regulator , the Autorité des marchés financiers (AMF), to operate as a registered Digital Asset Service Provider (DASP). The crypto ...

Hedge fund manager Michael Burry, famed for forecasting the 2008 financial crisis, has warned of a looming consumer recession and more earnings trouble. He cited falling U.S. personal savings and record-setting revolving credit card debt despite trillions of dollars in stimulus money. Michael Burry’s Recession Warning Famous investor and founder of investment firm Scion Asset Management, Michael Burry, warned on Friday about a looming consumer recession and more earnings trouble ahead. He is best known for being the first investor to foresee and profit from the U.S. subprime mortgage crisis that occurred between 2007 and 2010. He is profiled in “The Big Short,” a book by Michael Lewis about the mortgage crisis, which was made into a movie starring Christian Bale. Burry explained on Twitter Friday: US Personal Savings fell to 2013 levels, the savings rate to 2008 levels – while revolving credit card debt grew at a record-setting pace back to the pre-Covid peak despite all those t...

Allianz Chief Economic Advisor Mohamed El-Erian says the Federal Reserve will have to “decide between two policy mistakes.” One risks triggering a recession and the other could prolong inflation well into 2023. “I think the time has passed for a soft landing,” the economist stressed. Mohamed El-Erian on Inflation, Recession, and the U.S. Economy Economist Mohamed El-Erian discussed where the U.S. economy is headed and the Federal Reserve’s plan to bring inflation under control in an interview with Bloomberg Friday. El-Erian is Chief Economic Advisor at Allianz, the corporate parent of PIMCO, one of the largest investment managers, where he was CEO and co-chief investment officer. He is also the president of Queens’ College, Cambridge University. He was asked what’s feasible for Federal Reserve Chairman Jerome Powell under the current economic environment. The economist replied that “at best,” it is “what Chair Powell called a ‘softish’ landing, and the ‘ish’ is really important.” ...

A proposal to permit companies to use cryptocurrency in cross-border settlements has made its way to a draft law designed to regulate Russia’s crypto space this year. According to a press report, the finance ministry has introduced a number of revisions to the legislation it has been working on in the past few months. Changes to Cryptocurrency Bill Can Make International Coin Payments Possible in Russia The Russian Ministry of Finance has revised its draft law “On Digital Currency” to reflect various suggestions by other government departments and agencies, the business daily Vedomosti unveiled, quoting government sources. The amendments have been coordinated with the ministries of economy, digital development, internal affairs, the Federal Tax Service, and Russia’s financial watchdog, Rosfinmonitoring. The one major institution missing from that list is the Central Bank of Russia, which remains opposed to any legalization of cryptocurrencies like bitcoin and respectively disagrees...

Bitcoin is attempting to form a higher low at $28,630 and if that happens, ETH, XTZ, KCS and AAVE may rally in the near term. from Cointelegraph.com News https://ift.tt/ns91bXj via IFTTT

A non-fungible token (NFT) collection called Goblintown is capturing millions in sales, as the NFT project has recorded $22.85 million in sales this week surpassing Otherdeed’s $20.73 million. At the time of writing, Goblintown obtained $2.26 million in sales during the past 24 hours, and the collection’s floor value jumped 103.2% higher today, to a daily high of 2.79 ether. Mysterious Free-to-Mint Goblintown NFT Collection Captures Millions The latest NFT collection turning heads this week is a project called Goblintown , an NFT compilation consisting of 9,999 goblins. One reason the project getting noticed is because the NFTs were minted for free and then they gained significant real-world value over time. Without any frills, major promotions, or commercial hype, by May 23, 2022, Goblintown’s floor value was 0.5 ethereum (ETH) , and its increased 458% to 2.79 ETH by Sunday evening on May 28. The project officially launched on May 22 and the only way people heard about it was thr...

India’s central bank, the Reserve Bank of India (RBI), has proposed to adopt a “graded approach” to launching the country’s central bank digital currency (CBDC). The RBI also said it is exploring the pros and cons of introducing a digital rupee in India. RBI on the Upcoming Digital Rupee Launch The Reserve Bank of India released its annual report for 2021-22 Friday. India’s central bank digital currency (CBDC) is among the many topics discussed in the report. “The design of CBDC needs to be in conformity monetary policy, financial stability and efficient operations of currency and payment systems,” the report details, elaborating: The Reserve Bank proposes to adopt a graded approach to introduction of CBDC, going step by step through stages of proof of concept, pilots and the launch. In addition, the report reveals that the central bank “has been exploring the pros and cons of [the] introduction of CBDC in India.” The RBI further detailed that “the appropriate design elements...

To actually solve the problem of receiving funds without having secured liquidity from someone else's node requires protocol-level changes. bit.ly/3f7o14k http://dlvr.it/SRDzbL

Tesla CEO Elon Musk believes the U.S. economy is approaching a recession but he explained why it is “actually a good thing.” Musk has estimated that the upcoming recession will last 12 to 18 months. Elon Musk Discusses U.S. Recession Tesla and Spacex CEO Elon Musk shared his thoughts on the U.S. economy and the upcoming recession in a series of tweets Thursday. Responding to a question about whether “we’re approaching a recession,” he answered: “Yes.” However, Musk noted, “this is actually a good thing.” The Tesla boss explained that “It has been raining money on fools for too long,” stressing that “some bankruptcies need to happen.” He elaborated: “All the Covid stay-at-home stuff has tricked people into thinking that you don’t actually need to work hard. Rude awakening inbound!” His recession tweet followed a statement he made last week, stating that the U.S. economy is “probably” in a recession. He warned that things “will get worse,” and estimated that the recession could l...

Billionaire and FTX co-founder Sam Bankman-Fried said the leading crypto asset exchange aims to make a number of acquisitions and could spend up to $2 billion on such efforts. The FTX chief executive officer highlighted in a recent interview that a fraction of the funds raised by the company were “explicitly viewed from a potential acquisition angle.” FTX Executive Sam Bankman-Fried Says Funds Raised Could Be Leveraged for Acquisitions Sam Bankman-Fried spoke in an interview with Bloomberg’s Allyson Versprille and Yueqi Yang on Friday and explained that FTX is thinking about expansion moves and acquisitions. The crypto exchange FTX and its parent company West Realm Shire Services Inc. have raised over $2 billion from investors. FTX trade volume data shows it is the second-largest cryptocurrency trading platform below Binance in terms of global trade volume. During the past 24 hours, FTX has recorded $1.56 billion in crypto trades with its 338 coins and 524 trading pairs. Bank...

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The share of crypto miners in Russia’s power consumption structure already exceeds 2%, according to a new government estimate. On this backdrop, the country’s industry ministry believes it’s time to bring the sector out of the shadows and regulate it. Crypto Miners Burn More Electricity Than Russian Farmers Miners extracting digital currencies account for more than 2% of the total volume of electricity consumed in the Russian Federation and their activities need to be “whitewashed” and regulated, Russia’s Deputy Minister of Industry and Trade Vasily Shpak stated. Speaking at a forum organized by the ruling United Russia party, Shpak elaborated: This is more than the cost of electricity for agriculture. In this sense, we cannot but recognize mining as an industry. Cryptocurrency mining is now in the “gray zone,” it’s not taxed in any way and creates risks for those involved in it, the government official noted during the event devoted to the development of blockchain technologies...

Conflicting Bitcoin derivatives data shows leverage traders bullish, while pro traders fear a deeper correction below $29,000. from Cointelegraph.com News https://ift.tt/GAcHIYd via IFTTT

Bitcoin price is down, but which dips are the ones to buy? Here are three metrics savvy investors use to determine when to buy BTC. from Cointelegraph.com News https://ift.tt/xFzAorT via IFTTT

Personal servers, like Umbrel and Start9’s Embassy, are ways for people to have more control over data and become more sovereign in the process. bit.ly/3f7o14k http://dlvr.it/SRBRj4

Multiple indicators signal that BTC could be in a “buy zone” but analysts caution that its price could still dip below $20,000. from Cointelegraph.com News https://ift.tt/Y1X2yR5 via IFTTT

According to a study called “A World of NFT Adoption” published by nftclub.com, the United States has the most non-fungible token (NFT) company headquarters in the world. While the U.S. captures more than 41% of the NFT companies worldwide, the second largest number of NFT startup locations stems from Singapore, as the country hosts over 10% in the region. 91 NFT Companies Reside in the US, Singapore Follows With 24 Startups, Taiwan Leads the World in Terms of NFT Interest NFT Club published a research report that analyzes Google searches related to non-fungible tokens and the quantity of NFT companies worldwide. The study shows the country with the most interest in NFTs, according to NFT-related Google queries per 100,000 people. According to NFT Club’s statistics, Taiwan leads the world with 2,300,330 searches and a population of around 23,888,595 residents. “Using Google search data, we were able to identify which countries make the most NFT-related searches,” NFT Club’s study ...

The proposed environmentally conscious spot ETF was found to be insufficiently protected against fraud and manipulation, like many ETF proposals before it. from Cointelegraph.com News https://ift.tt/AUjHTOp via IFTTT

In an exclusive interview with Cointelegraph, a policymaker from El Salvador reveals how BTC has been helping the country change people's lives. from Cointelegraph.com News https://ift.tt/tRc9jur via IFTTT

During the Oslo Freedom Forum, four international human rights activists considered Bitcoin’s role in enabling democracy. bit.ly/3f7o14k http://dlvr.it/SRB5Bv

The digital currency exchange Huobi Global has revealed it has acquired Bitex, a Latin American crypto platform that operates in Argentina, Chile, Paraguay, and Uruguay. Huobi details that the company is stepping up its presence in Latin America as it believes the region will be one of the most active crypto adoption areas worldwide. Huobi Aims to Step Up Its Presence in Latin America, Acquires Local Bitex Exchange On Thursday, the leading crypto asset exchange Huobi Global announced the company has acquired the Latin American cryptocurrency exchange Bitex. According to the announcement sent to Bitcoin.com News, the terms of the deal between Huobi and Bitex have not been disclosed. Bitex is an exchange that was founded in 2014 and while Huobi will be the parent company, the trading platform will retain its current branding and management team. Bitex offers digital currency services to residents located in Argentina, Uruguay, Paraguay, and Chile. “Since Huobi Group first entered th...

As Bitcoin becomes more widespread, doors begin to open to use it for more conventional means of purchasing big-ticket items, such as property. bit.ly/3f7o14k http://dlvr.it/SR7Bc4

ETH dropped below a key support in its USD and BTC pair, but analysts say a bullish trading pattern could eventually spark a sharp trend reversal. from Cointelegraph.com News https://ift.tt/5L73wkM via IFTTT

Two proposals to tax crypto assets have failed to gain support from Portuguese lawmakers who are now discussing the state budget. The bids came from minority left-wing parties, while the ruling majority is yet to put forward its own draft to regulate the matter. Portuguese Lawmakers Stop Motions to Tax Crypto Gains Members of the Assembly of the Republic, Portugal’s legislature, have rejected two separate proposals to tax profits from crypto investments. They came from the leftist parties Bloco de Esquerda (Left Bloc) and Livre, and were turned down by the majority of the ruling Socialist Party. The attempts to adopt rules for the taxation of capital gains from crypto assets were made during the ongoing discussions on the country’s 2022 budget, Eco reported. The Portuguese news portal has been following the parliamentary debate. The development comes after a recent statement by Finance Minister Fernando Medina, who revealed that the government is working on a legal framework allo...

The Fed vice chair told the House Financial Services Committee that a CBDC offers stability, interoperability in increasingly complex economic system. from Cointelegraph.com News https://ift.tt/O9p4oLd via IFTTT

The stablecoin issuer Tether Operations Limited has announced the company has launched a new fiat-pegged token tied to the value of the Mexican peso. According to the team the newly launched MXNT tokens will be initially hosted on Ethereum, Polygon, and Tron. MXNT Stablecoin Is Pegged 1:1 to the Mexican Peso The stablecoin and blockchain firm Tether has revealed it has launched a new fiat-pegged token that will join the company’s suite of stablecoins. Tether has launched MXNT, a stablecoin that is pegged to the value of the Mexican peso. Tether’s other fiat token offerings include the popular USDT , which is pegged to the U.S. dollar, and EURT, which is tied to the value of the euro. The company also offers CNHT, an offshore Chinese yuan-pegged token, and tether gold XAUT, a token pegged to the value of one ounce of fine gold. MXNT’s launch will officially start on Polygon, Ethereum, and Tron. Tether said it believes a digital peso will be quite beneficial to Mexico’s remittance...

Through a peso-backed stablecoin, Tether is basically “recreating forex markets with Tether products,” Ardoino said. from Cointelegraph.com News https://ift.tt/LDuwNnV via IFTTT

Immersion cooling systems for Bitcoin mining are all the rage, but do the benefits justify the costs? bit.ly/3f7o14k http://dlvr.it/SR3ykF

According to a recent announcement from the Terra blockchain team, the community voted and passed a proposal that plans to launch a new genesis version of the Terra blockchain without an algorithmic stablecoin. The governance proposal called “Terra Ecosystem Revival Plan 2” has been amended and the final release of the new Terra Core codebase has been released to prepare for the new network. Terra Ecosystem Rebirth to Happen on May 27, Latest Version of Terra Core Has Been Released and Audited On May 27, a new blockchain will launch that’s based on the Terra blockchain network but does not include an algorithmic stablecoin like terrausd (UST). The old chain token will be called “Luna Classic (LUNC)” and the new token will take the old name “Luna (LUNA).” The Terra team announced the May 27 launch and explained that the governance proposal passed on May 25. According to the team, the latest Terra Core code has been released and the codebase was audited by SCV Security . The gover...

The Federal Revenue of Brazil wants investors to pay taxes on cryptocurrency trading profits, even if there is no exchange for Brazil's national currency. from Cointelegraph.com News https://ift.tt/pr7DFyA via IFTTT

Binance CEO Changpeng Zhao met with Kazakhstan’s president and his senior staff on Wednesday to discuss long-term cooperation. from Cointelegraph.com News https://ift.tt/XJo5wy0 via IFTTT

Bitcoin and the major altcoins remain stuck in a range as traders search for the next factor that will start a directional move. from Cointelegraph.com News https://ift.tt/etfnZEX via IFTTT

The banking giant says Terra's collapse did not appear to harm the VC market, and things will be looking up for crypto as long as VC stays in. from Cointelegraph.com News https://ift.tt/kxVKDYQ via IFTTT