In the rapidly evolving digital era, where artificial intelligence and technology giants dominate, understanding the intricacies of Data Businesses has become imperative. As these entities shape our daily experiences, from targeted advertisements to personalized news feeds, unraveling the dynamics of data-centric businesses is not just an academic pursuit but a necessity for informed policymaking and the promotion of competitive markets. Central tenets of modern data businesses In the realm of modern business, corporate giants differentiate themselves by being data-centric. The term “Data Businesses” encompasses two primary types: data-enabled and data-enhanced. Data-as-a-Service (DaaS) companies, a subset of data-enabled businesses, redefine economic models by making data their core product. This shift places data at the forefront of business operations, creating a paradigm where the utilization of data becomes pivotal for success. Fostering the growth of Data-as-a-Service entities The journey to establish a DaaS company is a multifaceted challenge. Initial investments in robust data infrastructure are substantial, demanding financial resources and technical expertise. The continuous evolution of data, highlighted by economist Hal Varian, is a defining characteristic of successful DaaS companies. Varian emphasizes the non-rivalrous nature of data, its initial increasing returns through advanced techniques like machine learning, and the importance of continuous improvement for success in data markets. The growth trajectory of DaaS companies is marked by a steady increase in value and influence. From the accumulation of enough data to offer viable products or services, these companies enter a phase of accelerated growth. This virtuous cycle enhances their market power over time, raising questions about market dominance and the implications for competition policy. The unique business model of DaaS companies poses challenges and opportunities for policymakers. Questions arise about the structuring of open-data initiatives and the focus on raw data availability versus the development of valuable data products. Antitrust concerns emerge in markets where a few dominant players naturally tend to emerge. The evolving perception of data as a valuable commodity challenges traditional views and calls for nuanced policies and regulations that acknowledge the intrinsic value of data in the digital economy. Delving deeper into the fabric of data markets Data’s unique characteristics challenge conventional theories and models, necessitating a fresh perspective on competition, market dominance, and value creation. As the distinction between DaaS and data-enhanced businesses blurs, understanding the subtleties of these markets becomes crucial. The rise of data-first companies not only reshapes industries but redefines economic and business models. This calls for ongoing research and analysis to fully comprehend and actively engage with these new economic forces. In this era of data-centric economics, a comprehensive and nuanced understanding of Data Businesses is vital. These entities are not merely reshaping industries; they are fundamentally altering how we perceive and interact with data. As we navigate this new age, staying informed and actively engaging with the evolving trends of data-first companies is imperative. The dynamics of these businesses are reshaping our world, urging us to explore and understand the intricacies that define the future of economic landscapes. How can policymakers strike a balance between fostering innovation and preventing monopolies in this data-centric era?

What is RET and what does it solve? $RET is the digital token of the RET blockchain project, designed to transform real estate investment and utilization through blockchain technology. It serves as a financial instrument enabling the exchange of real estate and property, streamlining the process with efficiency and transparency. The innovative approach of RET extends beyond traditional real estate, encompassing sectors like Food & Beverages and Hotel & Tourism, recognizing their intrinsic link to the real estate system. With the plan to launch through an Initial Exchange Offering (IEO) and be listed on various exchanges, $RET provides a dual opportunity for investors: trading the token in the market or using it to acquire specific properties within the RET ecosystem. This model aims to address the real estate market’s challenges like high entry barriers, lack of liquidity, and cumbersome transactions, making property investment more accessible and diversified. Token Overview  – Token name: RET TOKEN – Token symbol: $RET – Total issue supply: 1.000.000 – Total circulation supply: 5.279.291 Coinstore Listing – Trading pair: RET / USDT – Trade time: 2023/11/29 – Withdrawal time: 2023/11/29 What are the utilities of RET? The RET token, as part of the ecosystem involving platforms like DIGAS, is designed to offer several utilities within this integrated digital environment. Here are the key utilities of the RET token: 1. Medium of Exchange:RET tokens are used for transactions within the DIGAS platform. This includes purchasing intellectual property (IP) in sectors such as real estate, food and beverages, hotels, and tourism, all tokenized as NFTs. 2. Facilitating Fractional Ownership:Through RET tokens, investors can acquire fractional shares in high-value assets like real estate NFTs, making investment more accessible and flexible. 3. Rental and Collaboration Transactions: Investors can potentially use RET tokens for renting out or collaborating their NFT-based properties with DIGAS brand partners, opening avenues for income generation or other benefits. 4. Liquidity in Real Estate Investment: By enabling the purchase of real estate as tokenized assets (NFTs), RET tokens help to address the issue of illiquidity traditionally associated with real estate investments. 5. Strengthening Token Demand and Value: The necessity of RET tokens for various transactions within the DIGAS ecosystem and potentially beyond creates a demand for the token, which can contribute to its market stability and value. 6. Incentivizing Participation: Holders of RET tokens might be incentivized to participate in the ecosystem through potential rewards, discounts, or access to exclusive features or partnerships. 7. Governance and Voting: In some ecosystems, tokens like RET can be used for governance purposes, allowing token holders to vote on key decisions or proposals within the platform. 8. Economic Ecosystem and Profitability: The integration of RET tokens into a broader economic ecosystem, involving real estate, hospitality, and other sectors, aims to create multiple streams of utility and profitability for token holders. In summary, the utilities of the RET token revolve around facilitating transactions within the DIGAS e-commerce platform, enabling new forms of asset investment and management, and potentially supporting the overall growth and stability of its ecosystem. What does the project ecosystem include?  The RET project presents an expansive ecosystem that intricately blends traditional industries with innovative blockchain technology, creating a multifaceted network of partnerships and initiatives. At the core of this ecosystem is Real Estate Development, featuring unique and pioneering projects. Residential developments like Aparthouse are reshaping the property industry by merging apartment design with the concept of landed houses, exemplifying innovation in residential spaces. Additionally, mixed-use residential projects such as SHILA at Sawangan stand out with their luxurious waterfront living in South Jakarta, encompassing a vast area and integrating untouched nature with modern living conveniences. The ecosystem also extends into Mixed-Use Resorts. Mawatu, located just 7 km from the International Airport of Flores, is a prime example. It’s positioned as the first privately-managed international integrated township in the region, combining elements like five-star hotels, lifestyle hubs, beach clubs, and shopping centers, thereby creating a comprehensive lifestyle and commercial destination. Hotel Chains form another pillar of the ecosystem, with the Artotel Group being a significant player. This leading Indonesian homegrown Hospitality Management group is known for its creative lifestyle and community-centric approach, managing an impressive portfolio of 52 hotels across the country, from Jakarta to Papua. In the Food & Beverages sector, the project collaborates with entities like Foodiz, Indonesia’s renowned culinary business learning center. Foodiz offers comprehensive support to the culinary business, ranging from operational guidance to facilitating investor funding, thus fostering growth and innovation in the F&B industry. Lastly, the ecosystem makes a foray into the Metaverse and Technology through partnerships with entities like the WIR Group. As a leader in immersive technologies such as Augmented Reality (AR), Virtual Reality (VR), and Artificial Intelligence (AI) in Southeast Asia, WIR Group brings a technological edge to the RET ecosystem. With its global patents in AR, the group is at the forefront of integrating these advanced technologies into the broader business landscape. Together, these diverse sectors and partnerships under the RET project aim to harness the power of blockchain technology, creating a dynamic and interconnected ecosystem. This network not only provides innovative solutions and opportunities across various industries but also paves the way for novel methods of investment and collaboration in the ever-evolving digital landscape. RET Official Media Website | Twitter | Telegram  About Coinstore Accessibility. Security. Equity. As a leading global platform for cryptocurrency and blockchain technology, Coinstore.com seeks to build an ecosystem that grants everyone access to digital assets and blockchain technology. With over 3.2 million users worldwide, Coinstore.com aims to become the preferred cryptocurrency trading platform and digital service provider worldwide. Coinstore Media Contact Pei Shan, Marketing Executive | peishan@coinstore.com Jennifer Lu, Brand Ambassador | Jennifer.lu@coinstore.com Coinstore Social Media Twitter | Discord | Facebook | Instagram | Youtube | Telegram Discussion | Telegram Announcement The post Exploring the RET Ecosystem: Innovating Real Estate and Beyond with Blockchain Technology appeared first on Visionary Financial.

According to Yahoo News, Argentina's President-elect Javier Milei revealed during a radio interview on Wednesday that Luis Caputo will be appointed as the country's new economy minister. Caputo's primary task will be to rescue Argentina from its severe economic crisis. Milei mentioned that Caputo, along with cabinet chief Nicolas Posse, had stayed in Washington to continue discussions with representatives from the US Treasury and the International Monetary Fund (IMF) regarding an economic plan for Argentina. Caputo's responsibilities will include implementing Milei's strategies to curb the nation's inflation, which currently exceeds 140%. Other aspects of Milei's platform, such as closing the central bank and dollarizing the economy, will be put on hold until public spending can be controlled to balance the budget, a key factor in addressing rampant inflation. The incoming economy minister will face significant challenges, including dismantling a complex system of currency controls and price freezes imposed by the previous government without causing hyperinflation. Caputo will need to lift over a dozen exchange-rate controls to promote exports while protecting the country's nearly depleted international reserves. Additionally, he will have to address the disparity between the official peso rate and the parallel exchange rate, as well as the price controls on more than 1,000 basic goods. Caputo previously served as finance chief during Mauricio Macri's administration, where he negotiated a $16.5 billion deal with holdout bondholders, allowing Argentina to re-enter international capital markets. He also issued a 100-year bond that was later swapped by Alberto Fernandez's government after defaulting in 2020. In 2018, amid a currency crisis, Macri appointed Caputo to head the central bank, but he resigned after only a few months due to tensions with the IMF. On Tuesday, Caputo met with IMF officials, including Deputy First Managing Director Gita Gopinath and Western Hemisphere Director Rodrigo Valdes, in his new capacity.

The recent regulatory crackdown on Binance by the United States regulatory agency has sent shockwaves through the cryptocurrency landscape. However, the ongoing legal battle between the US Securities and Exchange Commission (SEC) has emerged as another major challenge in the realm of cryptocurrency, following Binance’s troubles. Armstrong praises UK leadership amidst regulatory uncertainty Following this ongoing SEC battle, Coinbase CEO and Co-Founder Brian Armstrong attended Britain’s Global Investment Summit, joining some 200 global CEOs of major financial institutions and tech firms. Where he praised the UK government’s proactive approach toward cryptocurrency. However, in a recent social media post (X), Armstrong made a positive statement about the UK’s leadership: “Enjoyed my visit to the UK’s Global Investment Summit. Great leadership from @RishiSunak, making the UK a crypto and web3 hub, promoting science and tech as the backbone of economic and job growth for all citizens.” The post highlighted Sunak’s vision of science and blockchain technology as the backbone for economic and job growth for all citizens. Additionally, the UK government has passed several crypto-related bills to safeguard investors and attract businesses.  UK’s Crypto and Web3 ambitions Since the beginning of 2023, the UK has adopted a clear stance, positioning itself as a crypto and web3 hub. The goal is not only to boost economic growth but also to capitalize on the regulatory concerns faced by crypto businesses in the US. As the aftermath of the COVID-19 pandemic continues to impact the global economy, the UK aims to attract crypto businesses seeking a more favorable regulatory environment. In a recent interview with local media, Coinbase’s CEO expressed optimism about the crypto industry’s future, even in the wake of Binance’s historic $4 billion settlement with the U.S. Department of Justice. Armstrong views this enforcement action as an opportunity for the industry to move past a chapter of scandals and problems that have plagued its reputation. As the crypto landscape continues to evolve, the strategic moves by Coinbase highlight the growing influence of regulatory circumstances on industry players. Armstrong’s praise for the UK’s approach signals a potential shift in the crypto business landscape, as companies seek jurisdictions with more fair regulatory frameworks to navigate the challenges ahead. The post Coinbase CEO meets UK PM, Big announcement incoming? appeared first on Todayq News.

What Is JasmyCoin (JASMY)? JasmyCoin Price Overview JASMY Price Prediction 2023-2050 JASMY Price Prediction 2023 JASMY Price Prediction 2024 JASMY Price Prediction 2025 JASMY Price Prediction 2026 JASMY Price Prediction 2027 JASMY Price Prediction 2028 JASMY Price Prediction 2029 JASMY Price Prediction 2030 JASMY Price Prediction 2040 JASMY Price Prediction 2050 What Makes JASMY Unique? Where Can You Buy JASMY? Is JASMY a Good Investment? Conclusion If you are looking for Jasmy price prediction, you’re at the right place! The world of cryptocurrencies is ever-evolving, and among the innovative projects making waves is JasmyCoin (JASMY). Developed by Tokyo-based Internet of Things (IoT) provider Jasmy Corporation, JASMY sets itself apart by combining IoT and blockchain technologies to create a secure environment for data exchange. With a mission to empower users with control over their personal information, Jasmy aims to transform data into personal assets in a decentralized, trustless manner. In this article, we delve into the intricacies of JASMY, exploring its origins, unique features, price analysis, price predictions, and the potential it holds for investors. What Is JasmyCoin (JASMY)? Before dwelling on the Jasmy price prediction, let’s take a quick overview of the project. JasmyCoin is a cryptocurrency initiative by Jasmy Corporation, an Internet of Things (IoT) provider headquartered in Tokyo. Within the framework of the Internet of Things, which encompasses both mechanical and digital components with unique identifiers capable of data transmission, Jasmy Corporation specializes in the exchange of data. The Jasmy platform serves as a nexus linking two key entities: service providers and data users. The creation of the Jasmy platform aims to safeguard and reinstate individual data sovereignty through the integration of both IoT and blockchain technologies, affording users complete authority over their personal information. The primary objective of the initiative is to forge a secure ecosystem on the platform, facilitating trustless data exchange among IoT devices such as computers, cars, and phones, through decentralized protocols. Jasmy developers aspire to establish an environment characterized by a well-crafted infrastructure, ensuring users can effortlessly, securely, and seamlessly utilize data. Consequently, Jasmy endeavors to furnish its users with a robust infrastructure, a user-friendly interface, and a secure space for the storage and exchange of data. Within the Jasmy ecosystem, information has the potential to metamorphose into personal assets. Jasmy revolutionizes the workflow by incorporating edge computing and utilizing the InterPlanetary File System (IPFS) for data storage. The project’s philosophy centers on democratizing data through a decentralized model, ensuring secure protection and ownership for data owners. Service providers, in turn, gain the opportunity to promote their services or businesses by leveraging user-owned data within this secure framework. JasmyCoin Price Overview Let’s take a brief price overview of the coin before we get started with our Jasmy price predictions. As per the most recent data, the current valuation of JasmyCoin stands at $0.05, and JASMY holds the 147th position in the overall cryptocurrency landscape based on market capitalization. The circulating supply of JasmyCoin is 49.3 billion JASMY, resulting in a market cap of $248.37 million. Over the last 24 hours, the cryptocurrency has experienced a 2.13% decrease in its present value. Over the past 7 days, JASMY has demonstrated a negative upward trend, registering a dip of 2.03%. However, JasmyCoin has recently demonstrated significant potential, presenting a favorable opportunity for potential investors. Over the past month, the value of JASMY has surged by 35.56%, contributing a substantial average increase to its current valuation. This rapid growth suggests the coin has the potential to evolve into a robust asset if the upward trend persists. However, it’s crucial to consider the price volatility and trading volume of JasmyCoin in the context of its market performance. The coin’s price movements have shown intermittent fluctuations, indicating a dynamic market response. Investors should monitor these fluctuations closely, as they can provide valuable insights into potential buying or selling opportunities. JASMY Price Prediction 2023-2050 JasmyCoin is poised to establish itself as a significant contender in the cryptocurrency market, displaying considerable growth potential in the upcoming years, and possibly even over the next decades. Our comprehensive assessment will delve into both the immediate and extended outlook for JASMY, closely scrutinizing prevailing trends in the cryptocurrency market. Without further ado, let’s delve into the realm of Jasmy price predictions! JASMY Price Prediction 2023 Considering diverse market trends and indicators, it is anticipated that JasmyCoin will attain a price of $0.0073 by the conclusion of 2023. This price forecast is grounded in the expectation that JasmyCoin will sustain its growing popularity and adoption, drawing increased attention as more individuals recognize its potential. Additionally, influences such as global economic instability and inflation may further contribute to the appreciation of JasmyCoin’s price. JASMY Price Prediction 2024 Anticipate a continued upward trajectory for JasmyCoin’s price in 2024, potentially surpassing $0.025. This projection hinges on the expectation that the demand for digital currencies will persistently rise, driven by challenges and limitations faced by traditional financial systems. Furthermore, advancements in technology and the growing acceptance of cryptocurrencies by institutions and governments may propel JasmyCoin to experience a notable surge in value. JASMY Price Prediction 2025 At this juncture, JASMY is poised to solidify its position as a leading cryptocurrency within the industry. Price forecasts indicate a sustained upward trajectory, with projections suggesting a potential increase to $0.0475 by 2025. The growing adoption of JasmyCoin for transactions by individuals and businesses is expected to enhance its utility and scarcity, further fueling its value. Additionally, the integration of JasmyCoin into mainstream financial systems and investment portfolios is likely to contribute to its upward price movement. JASMY Price Prediction 2026 Considering existing trends and potential technological advancements, our Jasmy price prediction indicates that JasmyCoin could surpass the value of $0.0617. This projection hinges on the premise that JasmyCoin will sustain its global acceptance and adoption, resulting in a heightened demand. Additionally, the prospect of advancements in blockchain technology and potential collaborations with major corporations could further propel the price of JasmyCoin upwards. JASMY Price Prediction 2027 There is a potential for JasmyCoin to achieve a value of $0.0831 or beyond by 2027. This price forecast is grounded in the expectation that a growing number of individuals and businesses will incorporate JasmyCoin into their daily transactions, leading to an upsurge in demand. Moreover, amidst ongoing economic instability and inflation challenges faced by governments and institutions, there might be an inclination towards JasmyCoin as a potential solution, thereby increasing its value. JASMY Price Prediction 2028 In the year 2028, there is a belief among experts that JasmyCoin could potentially surpass a value of $0.0953 or even exceed it. This price forecast is heavily influenced by the expanding acceptance and adoption of JasmyCoin as a recognized form of currency. With a growing awareness of its potential benefits, the demand for JasmyCoin is expected to rise, consequently contributing to an increase in its overall value. JASMY Price Prediction 2029 In the year 2029, price projections suggest that JasmyCoin could potentially attain a value of $0.13 or potentially exceed it. This Jasmy price forecast is grounded in the expectation that the combination of JasmyCoin’s limited token supply and escalating demand will persistently elevate its value. Furthermore, as more countries and institutions acknowledge JasmyCoin as a legitimate form of currency, there is potential for a substantial increase in its adoption rate, further fueling its growth. JASMY Price Prediction 2030 In accordance with our long-term Jasmy price prediction, its price is anticipated to reach $0.357 or potentially surpass this value by the conclusion of 2030. This price prediction is rooted in the expectation that, by that time, JasmyCoin will have attained extensive adoption and utilization as a recognized form of currency. Additionally, the ongoing progress and application of blockchain technology may further contribute to the growth of JasmyCoin, enhancing its accessibility and usability across various industries. JASMY Price Prediction 2040 Peering into the distant future, numerous crypto analysts foresee the possibility of JasmyCoin’s value reaching astronomical heights by 2040. Our own projection aligns with this outlook, estimating that the JASMY price will surpass $1 in 2040. This price forecast is grounded in the premise that the limited token supply of JasmyCoin may sustain its escalating value in response to increasing demand. JASMY Price Prediction 2050 In the year 2050, JasmyCoin has the potential to emerge as the predominant global currency. The combination of its restricted token supply and growing adoption might propel prices even higher, with certain experts projecting it to reach $5 or beyond. Furthermore, with ongoing technological advancements, JasmyCoin could see increased acceptance and integration across diverse sectors like finance, healthcare, and real estate. What Makes JASMY Unique? While we have outlined our Jasmy price predictions, it is also essential to know what makes this crypto project so unique. In the era of digital advancements, Jasmy is tackling various challenges. One key aspect is the assurance of customer confidentiality and the empowerment of individuals to control their personal data. Through the Jasmy platform, users securely transmit information via IoT devices to companies in exchange for services. Jasmy implements a robust data processing policy, ensuring proper handling of customer information and eliminating the risk of data leakage. The Jasmy network establishes a decentralized infrastructure, emphasizing security and trust as foundational elements in data management. Hence, the JasmyCoin initiative aims to bolster the market’s safety and security to the utmost extent, leveraging the widespread utilization of IoT devices to mitigate fraud. The operational mechanism involves storing user data in a secure repository of personal information. The Jasmy network employs IPFS technology, comprising the SKC and Smart Defender, to fortify its security infrastructure. To enable SKC, users must complete the registration and identity verification process, granting them the ability to track transactions and manage data thereafter. At this juncture, investors and companies gain authorization to utilize the personal information of the owners. The Smart Guardian (SG) service facilitates the secure registration of IoT devices. Where Can You Buy JASMY? As of November 2023, JasmyCoin is actively traded on several cryptocurrency exchanges, making it readily accessible for purchase across a diverse range of platforms. Interested buyers, who are looking for Jasmy price predictions, can find JasmyCoin listed on prominent exchanges such as Huobi Global, Binance, Coinbase Exchange, Gate.io, KuCoin, Bitfinex, Bybit, Bittrex, Kraken, Binance TR, LBank, MEXC, Crypto.com Exchange, Phemex, Uniswap (V3), WazirX, Deepcoin, Bitrue, XT.COM, CoinEx, Bitget, BitForex, and more. The widespread availability of JasmyCoin across these exchanges not only contributes to its liquidity but also fosters a broader reach among the global crypto community. This extensive market presence is integral to meeting the diverse preferences and strategic considerations of investors, reinforcing JasmyCoin’s position in the dynamic cryptocurrency landscape. As the crypto market continues to evolve, the accessibility and availability of JasmyCoin on these exchanges provide investors with flexibility and choice in their trading endeavors. Is JASMY a Good Investment? Determining the wisdom of investing in JasmyCoin isn’t straightforward. While its value has exhibited significant fluctuations, offering potential gains for those buying low and selling high, the inherent risk cannot be ignored. Although Jasmy price predictions hold promise, it is still advisable to conduct your own research when you decide to buy Jasmy. Ultimately, the decision hinges on your risk tolerance and investment objectives. Moreover, it’s important to note that our Jasmy price predictions do not constitute investment advice and should not substitute advice from a certified investment planner or financial expert. Prior to making any purchase, it is recommended to conduct your own thorough research. Conclusion In sum, JasmyCoin stands as a promising cryptocurrency with a unique blend of IoT and blockchain technologies, aiming to revolutionize data exchange and empower users with control over their personal information. The current market overview indicates both challenges and opportunities, with the coin’s value experiencing fluctuations while also demonstrating significant growth potential. The Jasmy price predictions suggest a positive trajectory, with anticipated increases fueled by factors such as growing adoption, technological advancements, and global economic conditions. However, investors should approach with caution, considering the inherent volatility and potential risks associated with the cryptocurrency market.

The post Experts Predict Cardano (ADA), Ripple (XRP) And New Coin To Explode After Bitcoin Breaches $40,000 appeared first on Coinpedia Fintech News In the ever-evolving world of cryptocurrencies, the market continues to present a kaleidoscope of opportunities and challenges. As of late, the market has been witnessing a notable rally, with various digital assets, including the likes of BTC, showcasing significant movements. This surge reflects a broader trend of increasing investor confidence and a renewed interest in the potential of blockchain technologies. Amidst this landscape, Cardano (ADA) and Ripple (XRP) stand out as prominent players, while ScapesMania emerges as a new entrant with unique potential. Although neither Cardano (ADA) nor Ripple (XRP) is seeing rocketing growth at the moment, both will respond very favourably whenever Bitcoin exceeds $40,000. Let’s take a look at the numbers right now and see if we can make some informed guesses about what these titans (and one highly promising upstart) will feel like in the future. Summary: ScapesMania: A new and innovative player in the cryptocurrency market, ScapesMania is gaining traction with its unique revenue streams and strong presale performance, backed by a solid team and robust security measures. Cardano (ADA): Distinguished by its academic-driven approach, Cardano (ADA) is leveraging its extensive research base to enhance its blockchain technology, with price dynamics showing fluctuations and potential for growth amidst market volatility. Ripple (XRP): Ripple (XRP) faces a pivotal period, with its price influenced by ongoing legal battles and regulatory developments, and its future trajectory closely tied to these outcomes and its technological advancements. ScapesMania: A New Contender in the Crypto Arena ScapesMania has rapidly become a synonym for originality in the relatively new cryptocurrency market. It stands out from the crowd of underrated altcoins and well-established crypto titans because of its innovative revenue streams and meteoric rise in its presale. Backed by an award-winning team, ScapesMania is all about safety, having successfully passed audits by top-tier security labs. With a presence on key exchanges on the horizon, ScapesMania is poised for visibility and liquidity, which are going to fuel its growth. What is a Presale? The purpose of a crypto presale is to provide interested parties a chance to learn about and perhaps buy a new coin before it is officially released and listed on online trading platforms. Plus, it’s a great way to acquire tokens at a much lower price than they will be once the project goes live. The current ScapesMania presale is gathering steam by the day, giving traders a small window of opportunity to leverage this token while it is still in its initial stages. Joining the presale enables you to save significantly as ScapesMania is expected to surge in value upon listing. Such offers don’t last long – as the clock is ticking, the opportunity to acquire discounted ScapesMania tokens is slipping away. Is ScapesMania Going to Be the Hottest Altcoin of 2023 and Beyond? Several factors point to ScapesMania being the most promising new cryptocurrency of 2023: Innovative Mechanisms: ScapesMania allows crypto-savvy people to benefit from the multi-billion gaming industry; Straightforward Tokenomics: The project’s tokenomics are cutting-edge and simple to understand since they avoid any ambiguity; Rising Presale Numbers: ScapesMania’s impressive presale statistics indicate that it is gaining significant traction in the crypto world. Cardano (ADA): Charting a Future Through Academic Excellence Cardano (ADA) stands out in the blockchain world, primarily due to its strong emphasis on academic research and development. ADA has amassed a significant library of research papers, nearing the 200 mark. This focus on academic rigor and peer-reviewed research has not only solidified Cardano (ADA) standing in the academic sector but also underlines its commitment to a research-driven approach in the blockchain space. The price dynamics of Cardano (ADA) reveal a range that oscillates between $0.253 and $0.318. This fluctuation is further illustrated by its moving averages, with the 10-Days Moving Average positioned at $0.381 and the 100-Days Moving Average at $0.287. The market’s support and resistance levels are also crucial indicators, with support levels at $0.150 and $0.214, and resistance levels at $0.343 and $0.408. Looking forward, Cardano (ADA) trajectory is poised for potential growth, backed by its strong foundation in research and development. Innovations such as the integration of Hydra Nodes and enhancements in smart contract capabilities through the Plutus platform are notable developments that could drive Cardano (ADA) value. However, the market’s inherent volatility and external economic factors present challenges that could impact its growth. The interplay between Cardano (ADA) robust academic base and the unpredictable nature of the crypto market will be pivotal in shaping Cardano (ADA) future price movement. Ripple (XRP): Steering Through Regulatory Challenges and Technological Progress Ripple (XRP) is currently navigating a critical phase, predominantly shaped by its ongoing legal battles, especially with the SEC. These legal issues have become a central element in Ripple (XRP) narrative, significantly influencing its market performance and playing a key role in shaping the regulatory framework for cryptocurrencies in the United States. The legal proceedings have thrust Ripple into the limelight, making its developments a focal point for investors and market observers. Ripple (XRP) price is currently fluctuating between $0.509 and $0.655. The 10-Days Moving Average is at $0.613, and the 100-Days Moving Average is at $0.547, reflecting a market that is in a state of flux, influenced by regulatory news and investor sentiment. The support levels are at $0.272 and $0.418, while the resistance levels are at $0.710 and $0.857, marking crucial points for potential shifts in price. The future trajectory of Ripple (XRP) is closely linked to the outcomes of its legal challenges. A favourable outcome could significantly elevate investor confidence, potentially leading to an increase in Ripple (XRP) value. This optimism is underpinned by Ripple (XRP) advanced technology and its strong network of partnerships. However, the journey ahead is filled with uncertainties. Extended legal disputes or adverse verdicts could negatively impact investor confidence, potentially hindering Ripple (XRP) growth. The primary challenge for Ripple (XRP) is to navigate these legal complexities while continuing to innovate and expand its influence in the digital asset space. Conclusion: In the ever-changing landscape of cryptocurrencies, Cardano (ADA), Ripple (XRP), and ScapesMania each represent distinct aspects of the market’s potential and challenges.  Once the price of Bitcoin is going to breach $40,000, each of the projects is going to really feel the aftershocks. It does seem as if ScapesMania is much, much better equipped to handle any and all shifts. The project can offer incredible presale metrics, ambitious roadmap, and several other upsides. Start from x500% ROI post-listing and see where it goes!

Crypto Fest 2023 blasted into Cape Town, celebrating the next evolution of digital assets and locally built solutions. International headlines may be applauding the fall of some of the first crypto superstars, but a strong attendance at Africa’s premier crypto industry meetup demonstrates that digital solutions can still make a meaningful, positive difference on the continent. Crypto Fest 2023 invited Web3 enthusiasts to experience Cryptopia at Cape Town’s exclusive Cabo Beach Club and hundreds answered the call, a testament to the resilience of the community that is facing a harsh reality. Hannes Wessels, General Manager of Southern and Francophone Africa at Binance – the Title Sponsor of Crypto Fest 2023 – reiterated the role of blockchain as a tool for innovation in the event’s opening keynote. He also didn’t shy away from the news circling the company and former global CEO Changpeng Zhao. “I know as much as you do, which is what we have all read in the news,” admitted Wessels before explaining that he cannot engage on topics about the international company, only the local Binance operations. Business as usual It’s still business as usual in Africa and, judging by the quality of the solutions presented in the African Web 3.0 Pitchfest, business is booming. The startup pitching competition was hosted in partnership with CV VC, NODO and MZANSI WEB3 ICP.HUB SA. Paie impressed the judges enough with a fully formed user-friendly app for accessing global financial services and walked home with the top honours sponsored by NODO. The service is designed to make it easy for everyone, everywhere, to hold global assets and build wealth. With the Paie app you can easily access global currencies through fiat-backed stablecoins, earn interest and grow your savings. Innovations like this are in line with the Crypto Fest mission of creating an environment where users from all walks of life can interact with these lifechanging technologies to build economic security. And nowhere in the world are these solutions needed more than in Africa. “Bitcoin dominates cryptocurrencies in sub-Saharan Africa because its seen as a better way to preserve wealth as a store of value,” Chainalysis Senior Solutions Architect Zakaria Ellaoui explained during his market insights session focusing on the company’s Crypto Adoption Index. “Nigeria has seen a nine percent year on year increase in crypto transactions and there is significant demand for stablecoins across the continent because people see these as safer options. There is an appetite for risk, though. We‘ve seen a surge in altcoins in the region.” The road to regulation Ellaoui had high praise for South Africa’s efforts in establishing crypto regulations and said that the country is a leader on the continent in this regard. “It was a great move to license crypto businesses because we’re seeing a migration of fintech startups to South Africa.” Nonkululeko Musa Ntuli echoed his sentiments during her session which unpacked the Evolution from Web2 to Web3 in an easily accessible way. “Regulators want to control crypto because that will bring compliance and create stability. It is not necessarily bad for the market.” While South Africa’s recognition of crypto financial products was a big step in the right direction, there is still work to be done in legitimising the asset class as legal tender. Gideon Rossouw, Web3 Enablement Executive at Nedbank stated on the Future of Stablecoin Regulation panel discussion. “We as banks can’t take the risk because if we go bust, the economy will certainly be affected. Regulators are looking at it from the perspective of applying a level control in proportion to the effect on the market.” Cryptocurrencies do not have widespread status as legal tender, but they are regarded as assets in South Africa and can be tendered to a creditor as a valid and legal offer of payment, if you can find a vendor who accepts crypto.   The Lightning Network and related payment technologies have managed to plug the gap in retail acceptance of crypto, there is a lot of development happening in anticipation of future regulatory landscape shifts. Cryptopia lives in Africa Rossouw also addressed the challenges of creating a single stablecoin for the continent, suggesting that it may be a utopian idea, but the practical implementation would quickly become dystopian. “There are currency blocks that you can look at around the world, like the Euro. Each country has different political and fiscal processes, and it makes it difficult to establish a single currency to trade in. Even in Europe it’s not working that well.” In the heart of Cape Town, Crypto Fest 2023 emerged not only as a celebration of digital assets but as a testament to Africa’s unwavering commitment to innovation. While global headlines may focus on the challenges faced by crypto giants, the thriving attendance at this premier industry gathering paints a different picture—one of resilience and determination within the African crypto community. Beyond the challenges, the crypto community stands united, poised to turn discussions into reality and usher in a digital utopia that extends far beyond the Mother City’s shores. Cryptopia’s presence in Africa is not just a momentary affair; it is a burgeoning force that promises to grow stronger.

As the cryptocurrency landscape evolves, Luna Classic (LUNC), the resilient successor to the fallen Terra ecosystem, finds itself in a precarious position. The Terra ecosystem, launched in April 2019, faced a catastrophic collapse when its co-founder, Do Kwon, fled South Korea with $135 million of Bitcoin. The ecosystem relied on stablecoins tied to various fiat currencies, with Terra’s native coin, LUNA, at the core of its algorithmic design. The downfall began in May 2022 when the price of UST, a stablecoin in the Terra network, fell below its $1 peg. Despite efforts to support the peg, the algorithmic system caused hyperinflation in LUNA, rendering it nearly worthless. The community split, leading to the creation of Terra Classic, with coins like Lunoc (LUNC) and TerraClassicUSD (USTC) emerging as the new names for the original platform’s assets. Why did LUNC Rise? Tobin Tax Influence and Community Support James Tobin, a respected economist and former Federal Reserve Board member influenced the decision to implement a 0.5% burn tax on Luna Classic transactions. Tobin recommended a 0.5% charge, aligning with the principles of Currency Transaction Taxes. Major exchanges like Binance and KuCoin supported this economic strategy, leading to the successful proposal in May 2023. While the tax increase has significantly reduced the LUNC supply, uncertainties persist regarding Luna Classic’s sustained recovery. Despite having a market valuation above $385 million, challenges remain, especially with the blockchain’s transaction fee structure in a competitive landscape. LUNC’s Current Status and Analyst Insights As of November 28, 2023, Luna Classic boasts a market valuation exceeding $536 million, and the DeFi ecosystem has a Total Value Locked (TVL) of around $1.66 million. However, decentralized applications on the platform have limited popularity, raising questions about Luna Classic’s broader appeal beyond speculative trading. After being down for over a year, prominent LUNC trader Derek tweeted that the coin had finally broken out of its bear market and was trading above the 200 Moving Average (MA). For LUNC, this bullish divergence is a significant step toward a possible trend reversal. Derek stressed the significance of LUNC maintaining support above the 200MA level, even if this optimistic trend is beneficial in and of itself. Nonetheless, he pointed out that a little decline below the line wouldn’t be disastrous since the Relative Strength Index (RSI) is still high at 58, indicating that bullish sentiment would likely persist. In conclusion, while some analysts believe Luna Classic is showing signs of recovery, the blockchain’s fee structure and the competitive nature of the crypto space pose ongoing challenges. Whether Luna Classic can evolve into a decentralized finance and NFTs hub remains uncertain, emphasizing the need for continuous adaptation and improvement in a rapidly changing crypto landscape. $LUNC #LUNC

Billionaire investor Mark Cuban, a prominent figure on "Shark Tank," has expressed keen interest in a groundbreaking crypto real estate initiative.The project, presented by angel investor and entrepreneur Jason Calacanis, envisions the convergence of smart contracts and non-fungible tokens (NFTs) to catalyze construction and urban development.Calacanis, outlining an ambitious plan for urban development, declared his intent to construct ten new cities in America, each with a million housing units. These envisioned cities would boast meticulously planned layouts, exceptional affordability, walkability, sustainability, and a range of amenities designed to bring joy to residents of all ages and socio-economic backgrounds.Drawing inspiration from successful endeavors like those in the Kingdom, Calacanis emphasized the importance of collective will in making this vision a reality.In response to Calacanis's expansive proposal, Mark Cuban, known for his strategic investments, put forth a pragmatic plan leveraging blockchain technology. His proposal involves implementing a blockchain-based smart contract on a layer-2 scaling solution to ensure both privacy and efficiency in the process.The essence of Cuban's proposal lies in the utilization of a smart contract that automatically verifies issued construction permits through an oracle—a system supplying external data to the blockchain.Once a permit is authenticated, the smart contract generates an NFT, symbolizing a developer's entitlement to receive 250,000 USDC, a stablecoin. Cuban's approach underscores the fusion of cutting-edge blockchain solutions with real-world urban development, showcasing the potential for innovation in the intersection of technology and construction.Is my understanding correct that the smart contract will consistently monitor the issuance of construction permits and generate a new NFT for each additional housing unit to be constructed?" Mark Cuban inquired in a tweet.So you are saying you will have written a smart contract on a ZK L2 which will check for a construction permit being issued , which in turn will create and send me an NFT that unlocks and delivers 250k in USDC when the oracle checks property and utility records and…— Mark Cuban (@mcuban) November 26, 2023Cuban's intrigue in the innovative fusion of cryptocurrency and real estate underscores his commitment to exploring practical and life-enhancing applications of digital assets beyond traditional investment avenues. In an October interview with WIRED, he emphasized the transformative potential of cryptocurrency, stating, "Crypto has some problems.Most people, when they think crypto, they think speculation. That's not what crypto's really about. Crypto is really about creating new applications that make things better and easier. What crypto is missing is that one application that grandma really wants to use."Despite his enthusiasm for the crypto sector, Cuban's journey in the cryptocurrency landscape has encountered hurdles. In September, he experienced a significant setback when he fell victim to a cryptocurrency scam, resulting in a loss of nearly $870,000. The realization of the scam occurred belatedly, with Cuban discovering the disappearance of 5 Ethereum from his wallet, valued at approximately $8,175 at the time. This incident highlights the challenges and risks that even seasoned investors may face in the evolving landscape of cryptocurrency. #BinanceTournament #BlockchainAdvancements

HSBC Bank (China) Limited, a wholly-owned subsidiary of The Hongkong and Shanghai Banking Corporation Limited, has become the first foreign bank to launch a digital yuan business in China. Additionally, HSBC China has initiated the distribution of private trust plans that invest in hedge funds to its private banking clients. These steps represent significant milestones in the bank’s expansion in China’s financial services sector. Launching Digital Yuan Business HSBC China’s launch of its digital yuan business marks a pivotal moment, positioning it as the first international bank to delve into this burgeoning digital currency arena in China. This move not only demonstrates HSBC’s adaptability to China’s evolving financial landscape but also sets a precedent for foreign banks in the country. With active actions on the part of other companies, healthy competition in this market can develop in the country. HSBC China is introducing private trust plans that invest in hedge funds to qualified private banking clients. This initiative makes HSBC the first international bank in mainland China to offer such investment options. The move aims to provide investors with diversified asset allocation choices, further broadening the bank’s wealth management portfolio. HSBC’s Growth Amid Economic Challenges Despite economic challenges in China, HSBC is on track to achieve its goal of expanding its wealth business headcount to 3,000 by 2025. This ambitious target underscores HSBC’s confidence in the growth potential of China’s wealth management market. Since 2021, the Asia-focused bank has successfully recruited around 1,500 wealth managers in China, as noted by Trista Sun, HSBC China’s head of wealth and personal banking. HSBC China’s initiatives in launching the digital yuan business and expanding its wealth management services reflect the bank’s strategic focus on innovation and growth in China’s financial sector. These developments are a testament to HSBC’s commitment to offering sophisticated financial solutions in one of the world’s largest economies. The post HSBC China Becomes the First Foreign Bank to Launch Digital Yuan Operations appeared first on Metaverse Post.

Africa's Economic Potential: Allianz Trade Report Highlights Growth Opportunities. 🌍💹💸💰 Allianz Trade's recent report sheds light on Africa's economic potential, projecting a significant growth trajectory. The continent aims to reach $4.6 trillion in GDP by 2030, with a focus on stabilizing its growth path. Positive Trends and Stability: The report emphasizes Africa's stable growth path, creating optimistic commercial expectations. Resilience and adaptive capabilities in the face of political unrest and economic challenges are highlighted. Projected Growth Factors: If Africa rekindles the growth momentum seen from 2000 to 2010, a remarkable GDP increase of $1.7 trillion is expected by 2030. The region's ability to withstand long-term challenges positions it for accelerated growth in 2024-2025. Key Areas for Improvement: The report emphasizes the vital importance of enhancing investment and liquidity conditions across Africa. Addressing commodity price shocks, balancing payment discrepancies, and overcoming currency devaluations are crucial for the region. Favorable Business Environment: Africa's lower growth volatility compared to other regions positively impacts investor penetration, market expansion, and overall business sensitivity. Domestic gross investments in Africa between 2017-2022 reached an impressive 24.5% of GDP, excluding China. Corporate Growth and Attractiveness: African companies continue to expand, with around 350 firms boasting revenues exceeding $1 billion. The region's rich natural resources and dynamic workforce make it attractive to both local and international investors. Africa Continental Free Trade Area (AfCFTA): The report highlights the potential for a 7% average increase in member countries' incomes by 2035 if AfCFTA is effectively implemented. Increased confidence and trade credit usage could provide an additional $65 billion liquidity, equivalent to 2% of Africa's GDP. #Africa #AfCFTA #AllianzTrade #GDP

The stock market is a dynamic and ever-changing entity, constantly fluctuating between periods of growth and decline. These periods are often referred to as bull and bear markets, each characterized by distinct trends and investor sentiment.Bullish Markets: A Time for Optimism and GrowthA bull market is a period of sustained economic growth, characterized by rising stock prices and investor optimism. During a bull market, investors are confident in the future and tend to buy more stocks, driving prices higher. This positive cycle can continue for extended periods, leading to significant wealth creation.Bearish Markets: A Time for Caution and ResilienceIn contrast, a bear market is a period of economic decline, characterized by falling stock prices and investor pessimism. During a bear market, investors are fearful of the future and tend to sell their stocks, causing prices to plummet. This negative cycle can persist for months or even years, leading to significant losses for investors.Key Differences Between Bull and Bear MarketsFeatureBull MarketBear MarketOverall TrendPrices are risingPrices are fallingInvestor SentimentOptimisticPessimisticTrading ActivityBuying is prevalentSelling is prevalentEconomic ConditionsStrong economic growthWeak economic growthNavigating Bull and Bear MarketsBoth bull and bear markets are an inevitable part of the stock market cycle. While bull markets offer opportunities for significant gains, bear markets can present challenges for investors. However, by understanding the key differences between these two market phases, investors can develop strategies to navigate both bull and bear markets effectively.Here are some tips for investing in bull markets:▪︎Invest in stocks that are expected to benefit from the economic growth.▪︎Rebalance your portfolio regularly to ensure it aligns with your risk tolerance.▪︎Take advantage of dollar-cost averaging to reduce the impact of market volatility. Here are some tips for investing in bear markets:▪︎Focus on long-term investments and avoid panic selling.▪︎Consider defensive investments such as bonds or dividend-paying stocks.▪︎Have a cash reserve to take advantage of buying opportunities when prices are low.Remember, the stock market is a marathon, not a sprint. By adopting a long-term investment approach and staying informed about market trends, investors can weather the ups and downs of bull and bear markets and achieve their financial goals. #BullishForecast #BearishZone #bearorbull #CryptoTrends2024 #BullishChart $BTC $ETH $BNB

The move-to-earn (M2E) sector, a fusion of fitness and cryptocurrency, rocketed in popularity in 2022 with apps that rewarded users for staying active. Despite an early spike in interest, the market faced a slump, raising questions about its long-term viability; however, the sector, currently valued at over $550 million, is far from stagnant. Predictions suggest a surge to $1.2 billion by 2028 and possibly even $2.47 billion by 2032, which isn't just a passing craze – it's a significant lifestyle movement, growing at a brisk 18% annually. Amidst this vibrant recovery, Step App (FITFI) is grabbing everyone's attention, highly appreciated not only for its celebrity-powered appeal and AI-driven innovations, but for its stable economy, lucrative returns, and spotless market reputation. Projects like STEPN (GMT) and Sweat Economy (SWEAT) also shine as November has been a month of noteworthy momentum; FITFI has seen an impressive 54% surge over the past fortnight, while GMT has experienced a 19% increase in the same time frame. SWEAT isn't far behind – despite a slight 3% dip in the last two weeks, it has risen 11% month-to-date. As the M2E market navigates its challenges towards mass adoption, the intrigue lies in how these projects will evolve and whether they can sustain the momentum in the domain that is as volatile as it is promising. Step App (FITFI): Jog Your Way to Jackpots Imagine a world where your daily run or walk not only boosts your health, but also your virtual wallet. With Step App, your regular jog can net you anywhere from 5$ to 50$ per session! As the first move-to-earn application that empowered fitness with AI-assisted workouts, Step sets a new standard in the FitFi realm. Bolstered by its stable economy and lucrative ROI for users, the project caters to health enthusiasts and crypto fans alike, regardless of their experience with Web3. Injecting a burst of star-studded excitement, Step App basks in the glowing endorsements of legendary athletes like Usain Bolt, propelling its esteemed market reputation to even greater acclaim. Transform Your Steps into Tangible Rewards with Step App In Step, managing your earnings is effortless and subscriptions are available to further personalize your in-app experience and amplify rewards. Here, the magic lies in the FITFI and KCAL tokens – central to the app’s vibrant, contest-filled community and its continuous innovation, they hold potential for appreciation over time. Whether it's upgrading your workout gear with KCAL or unlocking exclusive features with FITFI, these tokens are ready to enhance your fitness journey. In the run-up of 2024, Step is gearing up to unveil even more exciting features and airdrops, ensuring that both the community and the value of its tokens keep thriving. Step Up Your Game – Join Now! STEPN (GMT) Technical Analysis After a challenging 2022 where the value of STEPN (GMT) dropped by more than 90%, the platform is showing signs of recovery; it saw a strong market performance in October, surpassing previous resistance levels and entering November with a surge of market enthusiasm. As of today, STEPN (GMT) is oscillating between support at $0.2542 and resistance at $0.3796.  Source: TradingView Indicators such as the 10-day Simple Moving Average (SMA) at $0.3156 and the 100-day SMA at $0.2666, along with the MACD of 0.004 and the RSI of 41.84, suggest cautious market optimism – despite the ability of GMT to keep users engaged through high-profile partnerships, like that with DJ Steve Aoki and A0K1VERSE, there remain growing concerns about the long-term viability and sustainability of its project economy. These apprehensions cast a shadow of doubt over the asset’s journey, even as STEPN (GMT) introduces a unique digital sneaker collection aiming to boost its 2-3 million monthly active user base. In a bullish scenario, the optimism fueled by the recent collaboration, could propel GMT towards the next resistance levels at $0.4399 and $0.5653. However, the bearish case paints a different picture: if the newly forged alliance fails to generate expected excitement, or if broader market trends shift negatively, STEPN (GMT) could retreat to lower supports at $0.1891 and $0.0637. Sweat Economy (SWEAT) Technical Analysis Sweat Economy (SWEAT), currently the second-largest M2E project with a market cap of around $78 million, is stepping up its game; in September 2022, it caught the crypto community's eye when Bitfinex listed SWEAT, confirming the app's growing appeal, which has already attracted millions of users worldwide since 2016. The journey of Sweat Economy (SWEAT) – from rewarding steps with its in-app currency to offering a decentralized token alongside the Sweat Wallet’s perks and NFTs – marked an exciting evolution for the platform. Source: TradingView In the realm of technicals, SWEAT is hovering between support at $0.00958 and resistance at $0.01156. The token's current indicators – the 10-day SMA of $0.01064, the 100-day SMA of $0.01027, a slightly negative MACD, and the RSI of 39.9 – all hint at a market treading cautiously yet with potential. The Bitfinex listing and the recent expansion of Sweat Wallet in the USA add a layer of optimism.  If things go bullish, Sweat Economy (SWEAT) might push past $0.01156, aiming for $0.01252 and possibly $0.0145 resistances, bolstered by its growing user engagement and token utility; but the path isn't without its thorns – in a bearish turn, market skepticism or concerns about its economic model could push SWEAT below $0.00958, possibly testing lower supports at $0.00856 and $0.00658. The real test for Sweat Economy (SWEAT) lies in how it navigates these market perceptions and whether it can continue its upward trajectory amidst the challenges – the sustainability of M2E models is still under scrutiny, though SWEAT has already laid a solid foundation over several years before launching its token. Final Thoughts The M2E platforms like Step App (FITFI), STEPN (GMT), and Sweat Economy (SWEAT) are redefining the blend of fitness and finance, each one bringing its unique flair: Step App (FITFI) dazzles with celebrity-backed campaigns and AI smarts; STEPN (GMT) shows resilience with its cool digital sneaker collections; and Sweat Economy (SWEAT) is making waves with its decentralized token and foray into the US market.The road ahead for these platforms is as exciting as it is uncertain; bullish scenarios suggest growth and expanded user bases, but the bearish reality checks remind us of the M2E sector's fickle nature and sustainability concerns. Disclaimer: This is a sponsored article and is for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.

The post "CZ Leaving Binance CEO Seat: Visionary Game or Setback?" first appeared on 36crypto.com. While Changpeng Zhao (CZ) stepped down as the CEO of Binance, slinging the raft of the global community, the array of questions still remains unanswered. As the motives of CZ’s move seem loud and clear, its outcomes for the company did not seek any clarity.  As heated debates and irrationality are taking over the media dimension, it’s time for us to dot the i’s and cross the t’s on the backstory of CZ’s resignation and its connection with U.S.-initiated litigations.  Let’s kick into high gear! Context On November 21, Changpeng “CZ” Zhao announced that he was leaving the position of Binance CEO. Zhao’s departure as CEO will not be a complete separation from Binance. The company’s founder will remain its majority shareholder, and a resource for “consultation on historical areas of the business,” according to a Binance press statement.  CZ’s announcement also revealed that Richard Teng followed in Zhao’s footsteps, taking the seat of Binance CEO. Prior to that, he used to be the company's Global Head of Regional Markets. The critical update is argued to occur as a part of Binance's settlement with the U.S. authorities. Specifically, CZ pleaded guilty to a felony charge that he failed to take steps to prevent money laundering as the company agreed to pay more than $4 billion following an investigation by the US government. “I made mistakes, and I must take responsibility”, Zhao said in his statement on X.  Binance Under U.S. Scrutiny in a Nutshell In June 2023, the notorious U.S. Securities and Exchange Commission (SEC) sued Binance, Binance.US, and Changpeng Zhao, seeing their illegal listing of unregistered securities in the form of several cryptocurrencies for trading and investment. The suit immediately kicked off a legal fight over violations of security law.  A vast majority of the community believes SEC litigation turned out the pivotal turn tide for Binance's operability. Still, this presumption is a rather far-fetched perspective, as the exchange sought reputational issues way before Gensler’s body took on.  Since at least 2018, #Binance has been under the eye of the U.S. Department of Justice (DOJ) and the U.S. Attorney's Office. According to Reuters’ informants, the department’s investigation focused on Binance’s compliance with U.S. anti-money laundering (AML) laws and economic sanctions.  Details on the case had remained obscure until December 2020, when Federal prosecutors asked Binance to provide internal records about its anti-money laundering efforts, along with communications with Zhao. It is still unclear how the request was reacted to, but it showcased the tight grip of the U.S. justice mechanism for Binance. And the reasons for it were rather solid. Just a year before, in February 2019, Binance’s former Chief Compliance Officer Samuel Lim received information on transactions by the militant Palestinian group Hamas on the exchange, according to the U.S. Commodities Futures and Trading Commission (CFTC). Nevertheless, knowing the fact did not become a motive for changing the big picture, owing to the blockage of nearly 190 terrorist-linked Binance accounts solely by the Israeli police in cooperation with the exchange since 2021.  By and large, according to a Reuters investigation, over the course of 2022, Binance’s weak AML controls led to processing over $10 billion in payments for criminals and companies seeking to evade U.S. sanctions. The highlight of the violation disclosed that Binance operates in Russia as well. Until September 2023, the company kept on carrying out financial operations while attempting to evade U.S. sanctions by ceasing Ruble P2P trading and allowing operations only with locally distributed Visa and Mastercard accounts. For instance, crypto.com, WhiteBIT, and other exchanges suspended operations in the Russian market within the first days of the country's invasion of Ukraine.  The suits and accusations had been piled up until the very CZ's departure as CEO of Binance. As has been mentioned above, this became the outcome of the company’s settlement with the U.S. authorities, alongside agreeing to pay a $4 billion fee.  “Because of the crimes committed, Binance became the largest cryptocurrency exchange in the world. Now, Binance has paid one of the largest corporate penalties in US history”, said Merrick Garland, the US Attorney General. Specifically, on November 21, Zhao appeared in federal court in Seattle and pleaded guilty to anti-money laundering and sanctions violations brought by the Department of Justice. Apart from this, Binance settled charges with the DOJ, CFTC, the Department of Treasury’s Financial Crimes Enforcement Network (FinCEN), and the Office of Foreign Assets Controls (OFAC).  In an official statement, the Treasury Department specified that it had taken unprecedented action to hold Binance accountable for violations of U.S. anti-money laundering laws and failure to prevent and report suspicious transactions with terrorist organizations.  “Binance turned a blind eye to its legal obligations in the pursuit of profit. Its willful failures allowed money to flow to terrorists, cybercriminals, and child abusers through its platform,” Treasury Secretary Janet Yellen stated during a press conference. From what has been stated, one might conclude that sooner or later, Binance would have ended up facing legal measures by the U.S. authorities, yet a few could have imagined that would result in such radical consequences. The intensive pursuit to come up with an explanation for CZ’s decisiveness led to an array of insights and outlooks. Among the most adopted ones – was the one-sided victory of CZ.  Did CZ Take It or Leave It? A rather offbeat stance on CZ step-down was voiced by the analyst Cole Garner. In his post for X, he stated that Zhao literally “bribed” U.S. authorities with $4 billion in “broad daylight” while putting a “new puppet CEO” and eventually becoming free of collateral risks, i.e. extradition. At the same time, CZ apparently managed to enhance Binance’s reputation by liquidating litigation threats.  Seemingly, it would be challenging to disagree with the facts, cited by Garner – paying a $4 billion settlement and leaving the position of CEO was probably the most appropriate course of action amid the Binance legal crisis. Still, would it be sound to consider all that a win? Apart from the fact that Czangpeng Zhao pled guilty, and Binance paid an enormous settlement, literally admitting the credibility of accusations, CZ’s sentencing is yet to take place the next year, with a possible guideline sentence ranging as high as 18 months. What is more, the U.S. Attorney's Office asked the court to prohibit CZ from leaving the territory of the USA until the conviction on February 23, 2024.  Still, CZ seems to be aware of the investigation and promised to willingly return to the US for sentencing.  “I want to take responsibility and close this chapter in my life,” Zhao said. “I want to come back. Otherwise, I wouldn’t be here today.” Ultimately, it would be wrong to deny that compliance with lawsuits and alteration in Binance’s corporate structure are effective solutions for maintaining the company's reputation and vitality. Yet, Binance suffered great damage to its stability and operability, thus there’s no way to call this a “win” and utterly beneficial strategic move. Closing Remarks: How Binance PR Became Company’s Lifejacket Binance’s path through its existence certainly was not smooth sailing. However, the turbulence that occurred to it would make some other exchanges sink, and Binance is staying afloat. Where does the essence of a company's success lie? Certainly, the vitality of it is not ensured by trading volume. Given that, FTX would have remained a solid player by now. The magic pill is promotion. Regardless of all the factual basis, the audience still trusts CZ due to his communication activity and sincerity. Binance is still perceived as the cornerstone of crypto trading and an active contributor to its adoption. And let’s just be frank – it is still a no-brainer for a majority of traders and enthusiasts. What’s even more remarkable is that Binance PR gets it through a strengthened control of US bodies in the US, which can be noticeable with Sam-Bankman Fried (founder of the notorious FTX crypto exchange) sentencing. The story is not over for Binance as the conviction for Changpeng “CZ” Zhao is ahead. But the company keeps coping with challenges, spurring optimistic hopes for the future litigations’ outcomes.

Sundays Are for Writing 🧡 ( #Bitcoin    ) In a rapidly evolving world, Society finds itself at a crossroads, Confronting the widening gap between the haves and the have-nots. As we venture further into uncharted territory, It becomes essential for individuals to equip themselves for the challenges and opportunities ahead, Seizing every chance to combat the prevailing powers. At the core of this struggle for economic freedom and equality stands #Bitcoin    . It has risen as a beacon of hope and resilience amidst an uncertain future. The emergence of #Bitcoin     has disrupted the longstanding monetary system by introducing a genuinely scarce digital asset. Every sector will experience significant disparities arising from technological progress. As you stand on the brink of a new era, ponder the role #Bitcoin     might play in shaping both your future and that of those around you. With #Bitcoin     at your side, You can challenge the established order, bridge the divide between the haves and have-nots, and forge a brighter future for everyone.

The advent of digital currencies, led by Bitcoin, marks a revolutionary shift in financial systems globally. Launched in 2009 by Satoshi Nakamoto, Bitcoin emerged as a decentralized electronic payment system, pioneering a new realm of currency that operates independently of traditional financial institutions. Its cryptographic foundation not only safeguards user identities but also ensures a self-regulating supply system, a novel concept in the financial world.  In Zimbabwe, the landscape of digital currencies intertwines with the country’s unique economic backdrop. Despite the global surge in cryptocurrency adoption, Zimbabwe maintained a cautious stance. As the global financial landscape evolved, Zimbabwe’s stance on digital currencies began to shift, reflecting a growing interest in leveraging the potential of these new financial tools.  This interest was partly driven by the need to stabilize the local currency and address the persistent economic challenges. The country’s exploration into digital currencies, therefore, must be viewed through the prism of its unique economic struggles. The potential role of these innovative technologies is forging a path toward greater financial stability and prosperity through the crypto industry in Zimbabwe. The Regulatory Stance on Cryptocurrencies in Zimbabwe The regulatory landscape for cryptocurrencies in Zimbabwe has been a terrain of significant transformation. Initially, the Reserve Bank of Zimbabwe (RBZ) adopted a firm stance against the use of cryptocurrencies. In their December 2017 declaration, the RBZ explicitly stated that virtual currencies lacked legal tender status in Zimbabwe.  This stance was rooted in concerns over the risks associated with cryptocurrencies, such as money laundering, terrorism financing, and the potential for tax evasion and fraud. The RBZ’s warning was clear: any engagement with virtual currencies was at the individual’s own risk, with no legal protection or recourse available through regulatory authorities in the country​​. This initial position represented a broader skepticism within the Zimbabwean financial regulatory system towards the emerging digital currency market. The RBZ’s directive to financial institutions in May 2018 further underscored this cautious approach. All banking entities were instructed to cease any activities related to virtual currencies, including trading, holding, and transaction facilitation. This directive also encompassed the termination of relationships with virtual currency exchanges, effectively curtailing the institutional engagement with the cryptocurrency market within Zimbabwe​​. However, this regulatory narrative evolved as the global and regional significance of cryptocurrencies became more apparent. In a noteworthy shift, the RBZ, in March 2020, indicated a move towards regulating rather than outright banning cryptocurrencies. This move was part of a larger plan to adopt FinTech’s potential and involved creating a regulatory sandbox for cryptocurrency firms. Zimbabwean financial authorities recognize the necessity to adapt to the evolving digital financial landscape. This evolving perspective also reflected a recognition of the potential benefits of digital currencies, particularly in a context marked by economic challenges and the need for innovative financial solutions​​. Zimbabwe’s Journey Towards a Gold-Backed Digital Currency Zimbabwe’s foray into the domain of digital currency took a distinctive turn with the introduction of a gold-backed digital currency. This initiative, launched by the Reserve Bank of Zimbabwe, represented a novel approach in the realm of digital currencies, marrying the traditional stability of gold with the innovative features of digital tokens. The gold-backed digital currency emerged as a response to the ongoing economic challenges, particularly the weakening of the Zimbabwean dollar against major currencies. By anchoring the digital currency to gold reserves, the Reserve Bank aimed to offer a stable, reliable digital asset for both peer-to-peer and peer-to-business transactions​​. The mechanics of this gold-backed digital currency are founded on a tangible measure of gold reserves. Zimbabwe, possessing approximately 350 kgs of gold valued at $22.80 million, aimed to underpin its digital tokens with these reserves, thereby ensuring their stability and value. These digital tokens, designed to serve as legal tender, are structured to have a vesting period of 180 days and hold the status of a prescribed asset. This structure not only facilitates their use as collateral for loans but also embeds a layer of security and trust in these digital assets​​. This strategic move by Zimbabwe to launch a gold-backed digital currency reflects a broader vision to stabilize the country’s currency system. In a landscape where hyperinflation has been a recurring challenge, introducing a digital currency backed by gold reserves aimed to address the excess liquidity in the market and provide a secure alternative to the volatile local currency. The decision to back the digital currency with gold is a testament to Zimbabwe’s innovative approach in leveraging its natural resources to bolster financial stability and confidence in its monetary system​​. Economic Context: Hyperinflation and Currency Challenges Zimbabwe’s economic narrative has been predominantly defined by its prolonged battle with hyperinflation, a phenomenon that has recurrently destabilized its financial system. The severity of this hyperinflation reached a crescendo in 2009, compelling the country to introduce a new Zimbabwean dollar (ZWL), which shed twelve zeros from the previous currency. Despite these measures, the nation continued to grapple with soaring inflation rates, which, by November 2022, escalated to an annual consumer price inflation of 107% for a compressed basket of goods. This persistent inflationary pressure led to further devaluations of the local currency, underscoring the profound challenges in restoring monetary stability​​. The introduction of the gold-backed digital token by the Reserve Bank of Zimbabwe was a strategic response to these enduring economic struggles. The digital token, designed as a form of electronic money backed by the country’s gold reserves, was envisioned to provide a degree of stability and trust in the local financial environment. The intent behind this initiative was not merely to introduce a new form of currency but to address the fundamental issues of excess liquidity and currency devaluation that have plagued Zimbabwe for decades​​. However, the effectiveness of this digital token in addressing hyperinflation and stabilizing the local currency has been a subject of debate among economists and financial experts. While some acknowledge the potential short-term benefits of the digital token as a diversification tool and a possible store of value, there is a prevailing consensus that it alone cannot resolve the deep-rooted economic issues. The token’s initial uptake indicated some level of interest, but it did not significantly alter the rapid depreciation of the Zimbabwean dollar against major currencies like the US dollar​​. The Gold-Backed Digital Token: A Solution or a Symptom? The introduction of the gold-backed digital token in Zimbabwe, a pioneering effort in the digital currency landscape, has stimulated extensive debate regarding its efficacy in stabilizing the local currency. While the Reserve Bank of Zimbabwe envisioned these tokens as a stabilizing force for the Zimbabwean dollar, economists have expressed skepticism about their ability to address the fundamental economic challenges the country faces. The core issue, as identified by financial experts, lies in the rapid growth of the money supply, a significant contributor to hyperinflation. The introduction of the gold-backed digital token, while innovative, does not directly address this underlying problem. In the absence of strong macroeconomic policies, a digital token alone cannot curb the amount of money circulating within the economy. This limitation is compounded by the prevailing lack of confidence in the local currency, driving people to seek more stable alternatives such as the U.S. dollar​​. Moreover, the gold-backed digital token’s impact on exchange rate volatility remains a topic of contention. Initially, there was some interest in the token, as evidenced by the applications received shortly after its release. However, this interest waned over time, and the token did not halt the depreciation of the Zimbabwean dollar against the U.S. dollar. This trend indicates that, while the digital token may offer some benefits as a portfolio diversifier or a store of value, it is not a panacea for hyperinflation or the broader economic issues at hand​​. Public Reception and Market Dynamics The launch of Zimbabwe’s gold-backed digital token marked a significant development in the nation’s financial sector, eliciting diverse reactions from the public and shaping the dynamics of the local market. Initially, the introduction of the digital token generated considerable interest, as evidenced by the substantial number of applications received within days of its release. This initial enthusiasm indicated a willingness among individuals and corporations to explore new financial instruments amidst the prevailing economic uncertainties​​. However, the momentum surrounding the gold-backed digital token experienced a notable decline. The decrease in applications for the token over time suggested a waning confidence in its ability to effectively address the ongoing economic challenges, particularly currency devaluation. This shift in public sentiment mirrored the broader market’s skepticism about the token’s potential as a long-term solution to Zimbabwe’s financial instability. The token’s initial uptake, while promising, did not translate into a sustained demand, underscoring the complexities of introducing and maintaining confidence in a new digital currency within a volatile economic environment. The market response to the gold-backed digital token also reflected the intricate interplay between innovation and trust in financial systems. Despite the innovative nature of the token, the underlying issues of hyperinflation and economic instability continued to influence market behavior and public perception. The fluctuating interest in the digital token highlighted the critical importance of establishing and maintaining trust in new financial instruments, especially in contexts marked by economic turbulence and uncertainty. Policy and Macroeconomic Considerations The Reserve Bank of Zimbabwe’s introduction of the digital token was a strategic response to the ongoing economic crises, particularly the rapid expansion of the money supply and the resultant hyperinflation. However, as emphasized by financial experts, the success of such digital initiatives is closely tied to the overall macroeconomic framework of the country. The token’s introduction must be viewed not in isolation but as part of a broader spectrum of economic reforms and policy measures​​. Central to these reforms is the need for a balanced monetary policy. The Reserve Bank’s approach has involved implementing restrictive monetary measures, such as raising interest rates and increasing banks’ reserve requirements, in an effort to control the money supply. Simultaneously, the government has pursued an expansionary fiscal policy, characterized by increased public spending. This dual approach reflects the complexities of managing an economy in distress and the intricate balance required between monetary restraint and fiscal expansion​​. Moreover, the debate surrounding the elimination of the local currency in favor of a more stable foreign currency indicates the depth of the currency crisis in Zimbabwe. While the government remains committed to maintaining the Zimbabwean dollar, some economists advocate for its complete abolition, highlighting the extent of the challenges facing the country’s financial system​​. Global Perspectives and Comparative Analysis Globally, the advent of cryptocurrencies like Bitcoin has been met with a diverse range of responses from regulatory bodies and governments. Some countries have embraced these digital assets, recognizing their potential to revolutionize financial systems, while others have proceeded with caution, citing concerns over financial stability and security. For instance, Bitcoin’s introduction in 2009 signaled a transformative shift in digital transactions, offering a decentralized and secure payment method. This innovation rapidly gained traction, leading to a burgeoning market of over 11,000 actively traded digital currencies​​. In contrast, Zimbabwe’s journey with cryptocurrencies has been marked by a gradual evolution from skepticism to cautious acceptance. The initial stance of the Reserve Bank of Zimbabwe, which viewed cryptocurrencies as a potential threat to financial stability, has slowly shifted towards a more open and regulatory approach. This transition is exemplified by the Reserve Bank’s 2020 statement, indicating a willingness to regulate rather than ban cryptocurrencies, reflecting an acknowledgment of the growing importance of digital assets in the global financial landscape​​​​. The comparison with other countries reveals that Zimbabwe’s strategy, particularly its development of a gold-backed digital currency, is relatively novel. While countries like Nigeria, Ghana, and South Africa have also introduced digital currencies, Zimbabwe’s decision to anchor its digital currency in gold reserves sets it apart. This approach aims to leverage the country’s gold reserves to instill stability and trust in its digital currency, a strategy that aligns with Zimbabwe’s unique economic challenges and its rich natural resource endowment​​. Technological Infrastructure and Adoption The integration of cryptocurrencies into Zimbabwe’s financial landscape necessitates a robust technological infrastructure, a cornerstone for the effective adoption and functioning of digital currencies. Cryptocurrencies, by their very nature, rely on advanced technology, particularly blockchain, to facilitate secure and decentralized transactions.  For Zimbabwe, adopting such technological advancements poses both challenges and opportunities. The country’s infrastructure must be capable of supporting the complex algorithms and vast data processing requirements inherent in blockchain technology. This includes ensuring robust internet connectivity, cyber security measures, and a populace educated in digital financial literacy. The successful implementation of a gold-backed digital currency in Zimbabwe hinges on the strength and reliability of this technological foundation. Moreover, the technological adoption in Zimbabwe’s financial sector is not just about the technical aspects of blockchain and digital currencies. It also involves understanding and adapting to how these technologies can transform the traditional financial ecosystem. This transformation goes beyond mere transactions; it encompasses a shift in how financial services are accessed, delivered, and experienced by users. Bottomline Looking ahead, the future of cryptocurrency in Zimbabwe hinges on the interplay between technological infrastructure, regulatory policies, and macroeconomic stability. As the country continues to explore the potential of digital currencies, it is imperative to focus on building a strong technological foundation, fostering public understanding and trust, and implementing policies that support sustainable economic growth. Zimbabwe’s journey with cryptocurrencies is emblematic of a nation striving to harness the power of financial technology in a bid to overcome economic challenges.

🌍 Nigeria’s Crypto Landscape in 2023: Challenges, Innovations, and Resilience Hey Crypto Community! Today, let’s delve into the dynamic and evolving cryptocurrency scene in Nigeria, a nation that has become a significant player in the global crypto market. 📈 Bitcoin Premiums and Economic Realities • Surging Premiums: Nigeria recently made headlines for the soaring premiums on Bitcoin, with prices on local platforms listed at 60% above the global market rates. This phenomenon reflects the higher demand for the U.S. dollar due to the local currency’s devaluation, rather than a direct increase in demand for Bitcoin itself . • Underlying Causes: The high premiums are attributed to government-imposed cash withdrawal limits and the swapping of old bank notes for new ones, affecting local forex markets and leading to discrepancies between official and unofficial U.S. dollar exchange rates . 🌐 A Complex Crypto Environment • Misinterpreted Premiums: While the elevated Bitcoin prices initially suggested heightened demand for cryptocurrency, analysts point out that they more accurately reflect the country’s need for stable foreign currency, primarily the U.S. dollar. • Comparative Analysis: Interestingly, similar Bitcoin premiums are observed in other stable markets like South Korea, suggesting that the premium phenomenon is not unique to Nigeria but part of a broader trend in global crypto markets. 🔮 Crypto Adoption and Web3 Embrace • Robust Adoption: Despite the complexities surrounding Bitcoin premiums, Nigeria continues to be a major crypto adopter. The country’s young, tech-savvy population has embraced Web3, turning to cryptocurrencies as an alternative to the naira during times of economic instability and government controls . Conclusion Nigeria’s crypto journey in 2023 paints a picture of a nation grappling with economic challenges but also innovating and adapting in the world of digital currencies. #NigeriaCrypto #BitcoinEconomics #CryptoSurgeTrend #GlobalCryptoAdoption #Web3Innovation