VIDEO OF THE WEEK
HIDDEN GEMS
CRYPTO Page 24
Russia Legalizes Bitcoin (VOW)
Page 28
BEGINNERS GUIDE
Page 30
WEEKLY $2 cryptoweeklymag.com February 2022 | Volume 14
Metaverse Mortgages Page 02
FUDDOXX INSIDER Page 05
Metaverse Crime Scenes Page 08
Making Nigel Right Page 10
Crypto Growing Traction Page 14
NFT Insider Predictions Page 18
SEC Legal Battles Page 20
Bitcoin Echoes Crash Page 26
Sexual Metaverse Assault Page 34
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CONTENTS $2 cryptoweeklymag.com February 2022 | Volume 14
Finance Virtual Properties with "Metaverse Loans" ������������������������������������������������������������������������������ 2 Public companies like Tesla have invested billions in crypto, and they're hurting �������������������� 3 FUDDOXX INSIDER ������������������������������������������������������������������������������������������������������������������������������������������� 5 Simulating Crime Scenes In The Metaverse, What's Next? ����������������������������������������������������������������� 8 Nigel Token Wants to Right a Wrong in a Big Way ����������������������������������������������������������������������������� 10 Taking a multi-chain approach to crypto with DeFi and NFTs - Nansen Report ����������������������12 Bitcoin and other cryptocurrencies are gaining traction as well as facing new scrutiny. Can they be trusted? ��������������������������������������������������������������������������������14 Do you have any questions about NFTs or the Metaverse? ��������������������������������������������������������������16 Here are three predictions from NFT insiders for 2022, ranging from character and IP development to subscription marketing �������������������������������������18 Looming Legal Battle Puts SEC's Crypto Crusade at Risk �������������������������������������������������������������� 20 Video of the Week �������������������������������������������������������������������������������������������������������������������������������������������24 Bitcoin collapse has echoes of subprime crash, Nobel laureate says: Those who ignore the risks take the greatest risk ��������������������������������������26 Hidden Gems ������������������������������������������������������������������������������������������������������������������������������������������������������28 Beginners Guide ���������������������������������������������������������������������������������������������������������������������������������������������� 30 The Bank Won't let me Spend my $4m in Crypto Profits �����������������������������������������������������������������32 A woman claims she was groped in Meta's metaverse by a group of male avatars ��������������34
Readers get a chance to whitelist for the ambitious KAPEX project brought to you by Koda Cryptocurrency, Launch is expected next month (Feb 22) and public presale opens from 15th Feb. For more information visit https://KAPEX.me and join the conversation on telegram. Referral code: CWEEKLY22 2 random applicants will be accepted to band A, and 10 band B. Other applicants guaranteed standard presale if before 15th Jan (up to maximum allocation).
1
EDITOR’S LETTER Welcome to Crypto Weekly Welcome, this is the 14th issue of Crypto Weekly. Crazy things happening this week. Russia actually legalized Bitcoin! Russia is the latest country to give crypto a stamp of approval—for now. ... The document says cryptocurrency purchases are permitted through locally registered and licensed companies, which would require buyers to verify their identities and help government agencies track transactions. Wow-what a story! Find out more in this week's video of the week. We at crypto weekly are all working madly to prepare for next month's Dubai Expo on the 16th of March. We will be publishing a printed edition of Crypto Weekly just for the expo in addition to our regular weekly magazine. We have also scheduled our first regular quarterly bookazine of 250 pages to be printed on the 25th of this month to be distributed to a magazine shop near you in the U.S. and Great Britain. Crypto Weekly will answer all of your questions. Whether you're new to crypto or have some experience, we're here to help. I hope you all have fun. Now that we have reached the end, it is time to turn the page, but let us know your thoughts. If you would like to see something featured, please get in touch with me.
editor@cryptoweeklymag.com
Follow Me Robert Stone Editor
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shaketheweb
February 2022 | Volume 14
2
FEATURE Crypto Weekly
Finance Virtual Properties with "Metaverse Loans" I
n terms of the crypto space, the Metaverse remains relatively new. Nevertheless, people still see some real value in it, so its exploding doesn't take away from that. As with NFTs, Metaverse also works based on rarity, and the value people opt to see in it is gradually becoming a lot.
Mortgages in the Metaverse TerraZero Technologies Inc. is providing investors with loans to buy properties in the Metaverse through its latest offering. A Metaverse vertically integrated company. Recently, it provided a "Metaverse Mortgage" to one of its clients to purchase virtual real estate in Decentraland. The company hopes to provide similar financing for more interested individuals as part of their next meta. The company will enable
February 2022 | Volume 14
this using their prospective virtual real estate (referred to as the NFTs) as collateral. Investors can take out the mortgage in this way. The company provides them with "deployment rights," allowing them to develop their properties however they wish, provided they pay off monthly installments following the agreement. The company would then transfer the NFT/land ownership to the owner once the mortgage is fully paid. As such, development is the next step in the growth of this virtual world where people have heavily invested. There was recently a $2 million sale of a plot of land in the Metaverse. Sales of such plots and virtual real estate topped $100 million that same week. With this kind of growth, TerraZero and other financiers are in a great position to take
There was recently a $2 million sale of a plot of land in the Metaverse. Sales of such plots and virtual real estate topped $100 million that same week advantage of the trend by making the Metaverse more accessible.
Decentraland on the Rise There are week-long green candles on MANA charts, supporting the altcoin's 24.58% rally, regardless of the Metaverse hype. Additionally, with the appearance of an active uptrend after almost 20 days, investors may take advantage of the rally to take profits.
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FEATURE
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Crypto Weekly
Public companies like Tesla have invested billions in crypto, and they're hurting O
ver the last few months, Bitcoin's value has plummeted spectacularly, down around $1.4 trillion since hitting an all-time high last November. CoinGecko estimates that public companies have suffered losses of almost $7 billion in the crypto market. Individual traders have sold, lost, sulked, and bought again. A recent swoon in cryptocurrency has left many major companies red-faced, even though Bitcoin became an increasingly popular hedge against inflation in 2021. Quartz previously reported that 27 publicly traded companies hold Bitcoin on their balance sheets, putting the volatile digital currency where reliable assets typically reside. Recently, the hedge hasn't performed well. Publicly traded companies own approximately 78% of all Bitcoins.
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Quartz previously reported that 27 publicly traded companies hold Bitcoin on their balance sheets, putting the volatile digital currency where reliable assets typically reside. Recently, the hedge hasn't performed well Around 169,000 Bitcoin are collectively held by Tesla and MicroStrategy, two publicly traded companies.
MicroStrategy alone holds 121,000 Bitcoins, which are equivalent to $3.5 billion. MicroStrategy has been taking a massive gamble on Bitcoin for months, building up its crypto reserve unapologetically. Saylor frequently defends and praises the digital currency on Twitter, where he is the founder and CEO of the company. According to Business Insider, Taylor owns at least $866 million in Bitcoin. Despite the crypto carnage, MicroStrategy does not intend to turn its back on Bitcoin. Last week, MicroStrategy CFO Phong Le told the Wall Street Journal that the company has a buy-and-hold strategy for Bitcoin. If the company has excess cash or finds other ways to raise money, it will continue to invest in the cryptocurrency. Fortune contacted
February 2022 | Volume 14
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FEATURE Crypto Weekly
According to Nexon CEO Owen Mahoney in a statement, "Bitcoin offers long-term stability and liquidity while preserving cash value for investment purposes." MicroStrategy, but the company did not immediately respond. As for crypto holdings, Tesla has remained committed. It holds $1.26 billion of Bitcoins and has not sold any during this year's "crypto winter," according to its Q4 earnings report published on Wednesday. Tesla made headlines earlier this year by announcing it would accept Bitcoins as payment for its products before rescinding the announcement following criticism about the energy consumption of Bitcoin mining. Tesla has yet to resume accepting Bitcoin payments. Square (8,027 Bitcoins), Coinbase (4,483
February 2022 | Volume 14
Bitcoins), and Nexon (1,717 Bitcoins) were among the companies affected by the cryptocurrency downturn. MicroStrategy, for example, began storing assets using cryptocurrency, believing that Bitcoin would be a safer long-term investment than the U.S. dollar. In their August 2020 statement, MicroStrategy stated that cryptocurrency would provide a reasonable hedge against inflation and provide a higher return than other investments. Companies, however, refuse to purchase cryptocurrencies because they are concerned about the volatility of digital currencies.
"In general, we are interested in safety and liquidity for our businesses, so Bitcoin is still too volatile and still too speculative for us to use as a currency," PepsiCo CFO Hugh Johnston told CNBC SquawkBox last October. Jack Dorsey, former Twitter CEO and a cryptocurrency advocate runs Square, which holds significant crypto holdings. The company announced it wouldn't be making any new cryptocurrency investments after it lost $20 million on a $220 million investment in cryptocurrencies. In March, Sheryl Estrada of Fortune reported that Square CFO Amrita Ahuja believes "every balance sheet should have Bitcoin on it." If companies want to invest in crypto, they need to make smart choices. Tesla and MicroStrategy invested in Bitcoin when the coin's price was relatively low. Other companies weren't as lucky. In May of last year, Square made a big investment in Bitcoin, just before the currency plunged precipitously from a high of nearly $60,000 to a low of around $30,000, where it stayed for several months. Nexon, another company that lost a lot of money on crypto, invested $100 million in April 2021, around a month before Bitcoin's collapse. According to Nexon CEO Owen Mahoney in a statement, "Bitcoin offers long-term stability and liquidity while preserving cash value for investment purposes."
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FUDDOXX
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Crypto Weekly
FUDDOXX INSIDER It’s been another great week for Crypto with some amazing exposure coming in in the Super Bowl. FTX, Coinbase, Crypto.com and others have booked commercial time during the most-watched media event of the year. On top of this the Feds have seized $3.6B in stolen Crypto, this can only mean that there is going to be more interest from new investors, whilst gov agencies are cracking down on scammers… a win for us all.
PICK OF THE WEEK We’re going to do it different this week because we’ve had no new launched tokens but we do have a fully doxed pre sale. Four Elements is the first four-way charity system built on the Binance Smart Chain. Offering investors the opportunity to help the planet, by supporting environmentally sustainable initiatives while earning an income from LMNTS token reflections. he idea behind Four Elements is supporting funds from T all four elements of life.
EARTH = Recycling, biodegradable products, community and animal welfare and natural disasters.
NEW VERIFIED PROJECTS This week we have another pre-sale! Hypatia Games is one of first ever video game project that is bringing tokenisation of in-game assets for owners to have complete and total control over assets unlike other games that own and control even what gamers have purchased with their own cash. Don’t forget DYOR NEW VERIFIED PROJECTS: This week we have another pre-sale! Hypatia Games is one of first ever video game project that is bringing
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AIR = Climate change enterprises to reduce carbon emissions.
Fire = People and animals recovering from bush fires and fire rescue services.
WATER = Initiatives to reduce water pollution and support ocean wildlife.
onations will be distributed to 1 fund associated with D each element at the end of each quarter. Holders will be given the chance to vote on which 4 initiatives from a nominated list, will receive donations in the coming quarter. Holders can also suggest their favourite fund to be added to the nominated list. As we suggest to everyone, always do your own research. https://t.me/four_elements_token
tokenisation of in-game assets for owners to have complete and total control over assets unlike other games that own and control even what gamers have purchased with their own cash. Don’t forget DYOR ZAIN’S RUG OF THE WEEK: This week we have seen in the past few days a lot of information on Lilly Finance being a rug pull. At the beginning of the project they had ties with devs from Saitama, who ended up taking their names away from the list of team members. This week investors saw a huge dip causing investors to accuse LY of a rug pull.
February 2022 | Volume 14
FUDDOXX
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Crypto Weekly
LATEST NEWS Fuddoxx had their very own staking platform launch this week, investors were very keen to stake their tokens to get the great reward of 12% APY! Fully working for Meta mask users and an update coming soon which will have wallet connect installed. Work is still ongoing to our very own launchpad which will bring next level, safer pre sale options of new projects. Fuddoxx have had a great week on their chart with a new ATH of $260K completely organic!
Latest Scams Investigations are still on going this week on the big named influencer, hopefully we have a full update next week to expose this person! Also this week in heavy investigation we have joined forces with another well known company rug seekers, an old unused contract had an unexpected pump after one of Elon’s tweets. Fortunately, our team of investigators along side other experts may have pin pointed who the culprit is. It turns out you’re not always 100% anonymous!
Hidden Gems Xrise
Stability
Transparency
Same information as last week but could we change the date from the 14th to the 28th for launch, we have the pre sale on the 21st.
Total supply: 125 Million 25Million burned at launch
Doxxed team
SEEK2 token
DApp
Dividends paid as a reward
Claim any BSC token!
LP 100% locked
Fixed reward bounty program
Hosting AMAs for vetted projects
Reward based NFTs
Compounded Promotional token monthly
Special liquidation program
SEEK Token was founded by a professional, diligent, and experienced team committed to helping eliminate fraud and corruption from the crypto space. The project was born out of personal loss by its development team and out of necessity for our community. SEEK aims to use security, education, community, transparency, and stability to help DeFi become what it was made to be - a decentralized digital currency free from the constraints of fiat. They have been published in Bloomberg and MSN, and have a TV interview scheduled on the 2-22-22!
Security
Website: https://www.seektoken.net/
Education
Twitter: https://twitter.com/SEEK_Token2
Community
Telegram: https://t.me/SEEK_Token
February 2022 | Volume 14
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FEATURE Crypto Weekly
Simulating Crime Scenes In The Metaverse, What's Next? V
irtual Reality (VR) is a form of computer-generated visual and auditory simulation that imitates the experience of being physically present in a real environment. It is often used as a training tool, an entertainment medium,
or a tool for scientific research. Virtual reality is a great tool to demonstrate the impact of a crime scene and the relationship between evidence and what has happened. It is now possible to create
CONFIDENTIAL
a crime scene in 3D and then recreate the crime. This means that people can test their theories and find evidence backing it up. It is easy to lie about what happened, but evidence cannot lie. Virtual environments can be used to solve crimes in the past. The Bayerische Staatskriminalamt created an interactive VR scene of Auschwitz to support the prosecution's case in a war crimes trial. A fatal road traffic collision was reconstructed and presented in virtual reality for the prosecution and the defense. In two weeks after submission, the case was dropped and the following civil claim was settled quickly. The metaverse can be accessed with just a few clicks and it is easily accessible, so virtual reality headsets would not be needed. The judge and jury would have access to the metaverse at their convenience, which means they could see a crime from any angle. The immersive experience would allow them to see a crime from any angle. The jury
February 2022 | Volume 14
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FEATURE
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Crypto Weekly
A fatal road traffic collision was reconstructed and presented in virtual reality for the prosecution and the defense. relied on photographs, who were split 47/53 between a careless driving and dangerous driving verdict. in the virtual reality metaverse is less about seeing evidence leading up to the crime and more about seeing the events that occurred before it. The European Commission funded the virtual reality project in the UK. The project aims to create a system that helps people understand crimes better than they ever did. This is a method of using a virtual crime scene. It allows the jury to be able to be at the crime scene and see things from their point of view.
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The jury can see the evidence and the crime scene as it was at the time of the incident. It is a very effective method that does not involve much equipment and is easy to do. The researchers were able to test the efficacy of a new VR technology in aiding jurors to learn and remember facts during criminal trials. They found that the use of the VR headsets resulted in jurors selecting the same verdict 9.5 times more often than those who
A great deal of work is done to get a conviction in a court of law, and often, a prosecutor will use a simulation to get a conviction. In the metaverse, there is no need for sharing information or data. In this way, they will be protected from other multiverses without a need to share data or information. As you can see, the metaverse represents a step forward in creating an immersive environment for juries to view crime scenes.
February 2022 | Volume 14
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FEATURE Crypto Weekly
Nigel Token Wants to Right a Wrong in a Big Way T
he Nigel token is dedicated to those who have been scammed, scammed, or had their rug pulled in the crypto world. The Nigel project was created by ten crypto-enthusiastic friends who were scammed by a scammer they all knew as Nigel. After the carnage, they got together and decided to launch their own legitimate project and name the token after the person who brought them together under those unfortunate circumstances. Although it started out as a joke, the goal of the retributive campaign became to show that dedicated, transparent developers behind a simple and straightforward project can outperform con artists. Nigel's is a community-driven token that aims to make the crypto space safer due to efforts made as a collective. The BSC space has become ubiquitously known for its scams. The Nigel community believes that the best way to mitigate scams or frauds is to educate new and inexperienced users through engaging content. They all plan to work towards
this goal by creating crypto educational media and content and highlighting legitimate crypto projects. The initial liquidity pool tokens have been burned to create a safe and legitimate token, so liquidity can never be stolen or removed. The maximum wallet size is two percent of the token's supply to avoid large whale holdings, and the max transaction limit is one percent to prevent large dumps of the token. Six percent of rewards are paid out to holders in the form of BUSD, and three percent contribute to the token's liquidity pool. Two percent is allocated to fund the marketing and development of the token. These funds will promote the token, grow the community, and develop crypto safety education applications. The marketing wallet balance is visible and on display to our holders, ensuring developer transparency throughout the project's growth and evolution. Nigels is working for our holders twentyfour hours a day with developers from all areas of the world. The potentially damaging variable is mitigated of having a single lone wolf developer incorporating a motivated and dedicated team. This will ensure that there is always a team member available day or night with any concerns or questions. The team pledges to be active daily with the community and help grow the coin forward as a team while listening to the community about ways to evolve the
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project further. The team believes that it can create a social movement in the BSC space to come together as crypto aficionados and work towards the betterment of the ecosystem.
Plans for the Future Nigels is beginning its media content journey with Radio Nigel's flagship production. Wielding the tools of a digital generation, the initial entry is coming to the podcast space. The first series, Nigelcast, highlights up-andcoming crypto projects and provides an engaging and enlightening experience. Nigels plans on building an entire ecosystem of content and media with a strong focus on crypto safety education. The team believes that the first line of defense from being a scam victim is to be armed with knowledge. The team plans to develop a crypto education curriculum platform utilizing a "Learn to Earn" model and emphasize safely navigating through the space as a new crypto investor. This will help to ensure that fewer investors will fall prey to scams, as they learn to spot potential red flags or warning signs before investing in a project.
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FEATURE Crypto Weekly
Taking a multi-chain approach to crypto with DeFi and NFTs Nansen Report N
ansen, a blockchain analytics platform, released a report on the state of the crypto industry showing cryptocurrency has gone multi-chain, with attractive yields and digital collectibles. As a result of the analysis, Ethereum, with its firstmover advantage, remains the biggest blockchain by TVL and market cap. Uniswap consumed more than 30% of the gas consumed by the top 20 entities on Ethereum. Various Layer 1 and Layer 2 blockchains have come up with innovative solutions to blockchain scalability, security, and decentralization problems, as they compete for market dominance.
Among other supported blockchains, the following statistics were noted: While Polygon facilitated 300% more transactions than Ethereum, the daily gas fee in US dollars is often less than 0.5% of Ethereum's. From all L1s, Binance Smart Chain had the most daily active addresses. In November, the daily transactions on BSC reached 1,345% of Ethereum's Fantom Foundation announced a 370m FTM grant program and the daily address count on Fantom increased 440%, while TVL went from approximately $1bn to $6bn.
According to TVL, DeFi grew 1,120% in 2021 Despite DeFi's meteoric rise in 2020, the momentum continued into 2021. He noted that DeFi had grown 1,120% in terms of revenue and stickiness due to the maturity of stablecoins and the reliability of battle-tested dApps. In the stablecoin value distribution, whale wallets with over $1m accounted for more than 50%. By 2021, stablecoin volume is expected to increase steadily. The United States Department of Defense's dominance has been eroded
February 2022 | Volume 14
by increased regulatory scrutiny in 2021. USDC finished second in Ethereum's stablecoin market cap behind USDT in 2021, indicating it has become the preferred stablecoin for decentralized trades.
The world has taken notice of NFTs NFTs began to be used as twitter profile pictures by famous celebrities such as Stephen Curry and Jay-Z after CryptoPunks and Bored Ape Yacht Club broke through. During the year, two peaks were recorded, one in late May and one in late August. On August 29, sales volume reached an unprecedented 132k ETH ($422m). A total of 17 billion dollars' worth of ETH was sold on the market in 2017. "As more institutions explore the crypto market, crypto lending and options are expected to see increased adoption by institutions," said Alex Svanevik, cofounder and CEO of Nansen. Although few companies will hold BTC directly on their balance sheets like Tesla or MicroStrategy, the possibility of paying with cryptocurrency could finally make it mainstream," he said.
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FEATURE Crypto Weekly
Bitcoin and other cryptocurrencies are gaining traction as well as facing new scrutiny. Can they be trusted? W
ith plenty of drama along the way, cryptocurrencies are finally growing up, like a teenager forced into adulthood. The Biden administration is reportedly considering further regulation of digital currencies - a move that would rein in their renegade image. In another sign that crypto is becoming mainstream, investors have noticed that cryptocurrency's price gyrations seem to correlate with tech stocks' milder ups and downs. It is contrary to the image of crypto as cutting its own path, without relation to stock markets or governments. It may not be a coincidence that crypto and stock prices are closely aligned at the same time traditional financial institutions
February 2022 | Volume 14
are promoting digital assets more, not opposing them anymore.
Crypto's role Crypto supporters say the technology needs time to mature. The public isn't sure what to make of blockchain assets and crypto, so coins are traded in rough tandem with markets, according to Ted Jenkin, a certified financial planner and CEO of oXYGen Financial. "Over time, it will become an uncorrelated asset," departing from the markets. Bitcoin, like other cryptocurrencies, is synonymous with price volatility
and a difficult asset to understand. Unlike stocks, Bitcoin is rarely spent on things such as goods or buildings and equipment that are based on underlying assets. Because crypto buyers can be anonymous, crypto has been the preferred method of exchange for ransomware attacks and other criminal activity. Earlier this week, Senator Dianne Feinstein, D-Calif., urged federal agencies to report on how they track cryptocurrency use in drug and human trafficking.
Investors lack protection Some believe cryptocurrencies could be subject to price manipulation through
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Crypto Weekly
spoofing despite little government oversight. Spoofing involves large trade orders that are placed without the intention of fulfilling them, hoping to move the price by drawing trades from other investors. But cryptocurrency transactions continue to increase. Cryptocurrency tracking site CoinGecko reports that it is tracking the prices of 12,388 cryptocurrencies with a combined market cap of $1.82 trillion as of Sunday. Bitcoin has 40% of the market, followed by Ethereum at 17%. Considering the amount of investment in crypto and the potential impact its swings may have on the economy, the Biden administration is reportedly considering new regulations that could bring some order to the chaos. Bloomberg News recently disclosed that the Biden administration is preparing an executive order that could be released as soon as February, requiring federal
agencies to look at their potential risks and the opportunities for cryptocurrencies. In December, it also reported that U.S. Sen. Cynthia Lummis, R-Wyo., is preparing legislation around cryptocurrency. Regulating cryptocurrency could provide new underpinnings that increase its popularity. Jenkin said regulation is equivalent to validation. "If cryptocurrency is regulated, it validates that it is an asset that everyone should own."
Sceptically eyed However, governments around the world have generally viewed crypto suspiciously. El Salvador, the first country to adopt Bitcoin as legal tender, received a warning from the International Monetary Fund that its decision was ill-advised. "Bitcoin poses
a significant risk to financial stability, financial integrity, and consumer protection, as well as associated fiscal liabilities," IMF said last week. Cryptocurrency has been heavily supported by young investors. The digital nature of crypto makes it even more appealing to a generation without smartphones and the Internet, says Nick Casares, head of product at PolyientX, a platform for nonfungible token (NFT) projects. The NFTs, which allow users to purchase digital assets, are often associated with cryptocurrencies. Crypto presents a more comfortable way to manage personal resources for young people who are used to everything being digital and tied to an app, Casares said. As crypto matures, Casares predicts that it will "fall in line as a subsection of the financial sector" and be less correlated to stocks.
Cryptocurrency tracking site CoinGecko reports that it is tracking the prices of 12,388 cryptocurrencies with a combined market cap of $1.82 trillion as of Sunday. Bitcoin has 40% of the market, followed by Ethereum at 17%.
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February 2022 | Volume 14
16
NFT FEATURE Crypto Weekly
Do you have any questions
about NFTs or the Metaverse? You could profit from hot trends in the crypto economy with these digital assets. The key points A staggering $41 billion was spent by consumers on non-fungible tokens (NFTs) in 2021.
N
on-fungible tokens (NFTs) are crypto-assets that enable real and digital assets (such as artwork) to be stored on a blockchain. Investors have been attracted by this utility. According to blockchain data provider Chainalysis, consumers spent $41 billion on NFTs in 2021. A metaverse is a network of
February 2022 | Volume 14
In a decade, the metaverse could be a multitrilliondollar industry.
immersive virtual worlds that allow users to interact with their environment and with each other. It combines entertainment, gaming, and commerce. The NFT fits perfectly into this technology. In the metaverse economy, this will be critical to proving ownership
and authenticity of assets. The metaverse is expected to become a multitrillion-dollar industry over the next decade, driving consumer demand for NFTs. Several cryptocurrencies fit the bill perfectly for investors looking to cash in on those trends. Here are two great examples.
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NFT FEATURE
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Crypto Weekly
1.
Decentraland
Decentraland (CRYPTO:MANA) is a decentralized application (dApp) running on the Ethereum blockchain. With the MANA token, gamers can enter a virtual world. Players can buy and sell digital parcels of land in the marketplace, each with unique coordinates and wearable items like clothes, accessories, and body features for their avatars. MANA always funds transactions, and ownership of any item is represented as an NFT. Players can interact with other avatars in the virtual world and monetize their digital land in addition to developing 3D content, playing games, and using other applications. In short, Decentraland is a kind of precursor to what the metaverse might become -- it's easy to imagine the platform becoming part of a larger network of virtual worlds in the future. It's still a good time to be excited, though. Based on OpenSea's transaction volume
figures, Decentraland is the third most popular NFT collection in the world. Due to the excitement surrounding NFTs and the metaverse, it seems likely that MANA demand will increase as users become more enamored of Decentraland. Since the supply is fixed at 2.6 billion tokens, rising demand should increase the price. Because of that, this cryptocurrency could be a good long-term investment, especially now that the price has fallen more than 60% from its peak.
2.
The Sandbox
The Sandbox (CRYPTO:SAND) is another Ethereum-based metaverse game that uses NFTs. Players can create and monetize in-game assets and experiences using the SAND token, which powers the platform. VoxEdit is a modeling tool for creating and animating 3D objects such as people, animals, and scenery. On Ethereum, these objects are represented by NFTs. On the NFT
marketplace, users can buy and sell 3D objects using the SAND token. The tokens associated with each block of land can also be used for transactions on the marketplace. In addition, Game Maker allows users to create monetizable games and experiences without using computer code. This is a set of drag-and-drop tools that are used to position 3D objects and implement gameplay mechanics. The Sandbox has generated significant interest among the crypto community, ranking as the eighth-most popular NFT collection on OpenSea in the past month. Due to its easy-to-use interface, NFTs, and metaverse, the Sandbox is well positioned to attract more players in the near future. This should result in an increase in the price of SAND, which has a finite supply of 3 billion tokens. As the price of SAND is down roughly 60% from its high, it seems like a good time to invest in this digital asset.
The Sandbox has generated significant interest among the crypto community, ranking as the eighth-most popular NFT collection on OpenSea in the past month
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February 2022 | Volume 14
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FEATURE Crypto Weekly
Here are three predictions from NFT insiders for 2022, ranging from character and IP development to subscription marketing 10,000 "Miss Masky" NFTs were released as Fox hopes fans will engage with the "Maskverse" platform. 1
2
Hollywood creators and companies are using NFTs and blockchain technology.
Dick Wolf, the producer of "Law & Order," and the "Masked Singer" have moved into NFTs.
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3
From IP to storytelling, here are five ways to make the most of the NFT space in 2022.
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FEATURE
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Crypto Weekly
Many of the psyches of American television are influenced by the entertainment empire of Dick Wolf. There are currently entire evenings dedicated to his crime procedurals: three iterations of the "FBI" franchise on CBS on Tuesdays, the "Chicago" trilogy on NBC on Wednesdays, and "Law & Order: SVU" and its companion series on Thursdays. This fall, Wolf Entertainment formed a partnership with NFT platform Curio to create "The Wolf Society" a membership-based organization powered by non-fungible tokens. Hollywood is digging into the cyber asset, like Reese Witherspoon touting crypto on social media, CBS mining "SpongeBob" archives for NFT potential, and Fox releasing WWE and "Masked Singer" tokens. Some observers found the pairing of the 75-year-old producer and blockchain-based venture strange. . With the advent of NFTs in entertainment, like the 10,000 free "Miss Masky" collectibles Fox distributed through its "Maskverse," users will soon be able to collect, buy, and trade "Masked Singer" NFTs on Fox's Eluvio platform. "We intentionally made acquiring and onboarding easy and affordable," said Fox's animation studio Bento Box CEO Scott Greenberg. NFTs will generate
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revenue for Hollywood, not just act as a marketing tool; Fox has a $100 million creators' fund which it plans to deploy more widely by 2022. Ben Arnon said in an interview with Curio that the NFT market offers new IP beyond digital art. Partners of the company include Universal Pictures and Fremantle. Anonymous Content and Shawn Mendes' joint venture Permanent Content optioned an NFT of the astronaut character Aku in April. "Our initial hypothesis was that we could attract mainstream consumers to the NFT space if we combined major IP with NFTs," said Arnon. Initially, we created NFTs that functioned as digital collectibles, and over time, we have added a lot more functionality." Wolf Society, a series of fictional cold cases penned by TV writers and game creators, is "groundbreaking on multiple levels, both in terms of the NFT landscape and also the multiplatform storytelling landscape," Arnon said. Among the high-profile names involved in NFTs are Witherspoon, Tarantino, Grimes, John Cena, and Cara Delevingne (and her vagina-focused NFT) - though Bloomberg cautioned that celebfocused tokens tend to depreciate quickly. Tarantino's NFT plans for "Pulp Fiction" have hit a legal snag.
Venture capitalist and Worklife founder Brianne Kimmel is pleased to welcome Witherspoon to the space as a starproducer who is friendly, approachable, and known for supporting female entrepreneurs and empowering women. The founder of Adam Bomb Squad is Kimmel, who is behind one of the NFTs Witherspoon picked up in December, which features a winking pink Madam Bomb Squad token. Kimmel said she is excited to see women have a much stronger voice and to learn how NFTs can be used as an entry point to crypto. We can imagine that Witherspoon, whose Hello Sunshine production company is intentional about investing in IP that amplifies women's voices and opportunities, would see storytelling potential in these new assets. NFT backers hope that the new assets will expand their reach and functionality as Hollywood explores the technology. "We are betting on mainstream adoption," Fox's Greenberg said. In the NFT world, there's a lot more utility, and composability. You have access to a physical location, digital content, or subscriptions if you own an NFT." He said, "We'll see how mainstream opportunities are used, and we'll see a lot more than just, 'What is this thing I have collected?'"
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NEWS Crypto Weekly
Looming Legal Battle Puts SEC's Crypto Crusade at Risk I
n 2021, the SEC went after crypto. In 2022, crypto is coming for the SEC.
Securities and Exchange Commission Chair Gary Gensler has vowed to rein in what he's dubbed "Wild West" abuses in the $1.6 trillion market. Industry leaders, flush with cash and deeppocketed investors following a trading boom in Bitcoin and other digital assets, are aiming their lawyers at the sheriff of Wall Street in an intensifying legal fight.
February 2022 | Volume 14
Blockchain payments firm Ripple, the de facto leader of the revolt, has been winning procedural court cases trying to fend off the SEC in a case that could redefine how the agency polices digital assets. Grayscale Investments, which wants to launch a Bitcoin fund for the masses, brought on the white-shoe law firm Davis Polk to outline a legal case against the agency that could be brought against it if it hinders the company's ambitions. The CEO of another startup, Terraform Labs, sued
the SEC after it tried to serve him with a subpoena. Crypto-friendly legislators who claim that the SEC is overstepping its authority are cheering on the legal assault. It could limit the SEC's reach for years to come and remove what many in the industry view as their biggest regulatory obstacle to launching even more virtual currency products. "As a lawyer, you're trained to not pick fights with regulators," Ripple general counsel Stuart Alderoty said
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NEWS
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Crypto Weekly
in an interview. "But we didn't pick a fight with a regulator, the regulator did. Respect for regulators has to be earned, and I don't think the SEC has earned the industry's respect." An upcoming legal barrage is the latest example of the cryptocurrency industry taking an aggressive stance against Washington policymakers. This year is poised to be a key inflection point in the politics and regulations around digital assets. Crypto firms are ramping up lobbying and planning to dole out millions of dollars in financial contributions in a bid to secure allies in government and undermine their opponents. Several federal agencies make the issue a top priority and lawmakers draft a raft of legislation. "There's a carrot-and-stick approach," said Kristin Smith, who leads the Washington-based Blockchain Association, a trade group. "It's
aggressive — more aggressive than perhaps other industries." Gensler — a former Goldman Sachs partner who became a progressive darling because of his tough approach to regulating Wall Street — has taken a sweeping view of the SEC's role in cryptocurrency, arguing that most of the products fall under his agency's jurisdiction. A series of enforcement actions and behind-thescenes clashes with startups have put him at odds with the crypto community.
SEC spokespeople declined to comment for this story. "Right now, we just don't have enough investor protection in crypto," he said in an August speech that set the tone for his approach. "Frankly, at this time, it's more like the Wild West. … If we don't address these issues, I worry a lot of people will be hurt." The SEC's legal war with crypto began in the waning days of the Trump administration just before Gensler took
the helm of the agency. The agency in December 2020 sued Ripple, accusing the company of illegally raising more than $1.3 billion through the sale of the digital currency XRP. The SEC contends that XRP is a security that should be registered with the agency under the "Howey test," a landmark Supreme Court ruling that's the legal basis for defining investment contracts. Unlike other SEC enforcement actions that are resolved with a settlement, Ripple fought back, and the case is ongoing in federal court. The company argues that XRP is not an investment contract and that the SEC never provided "fair notice" that XRP was an unregistered security — a due process violation. Ripple has started to secure procedural wins. This month, a judge overseeing the case ordered the SEC to turn over internal documents that could offer new details on how agency officials developed their views on digital assets. The SEC's
"If you have the first 2023 Tesla and you go on the highway, and you're driving 90 miles an hour, and you tell a police officer that you thought the 75 mile an hour speed limit sign only applied to vehicles produced in 2022 or earlier ... you'll get laughed at," Jeff Hauser, a finance industry critic and founder of the watchdog group Revolving Door Project
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NEWS Crypto Weekly
allegations are "not just as a case against Ripple, but a case against the entire industry," Alderoty, Ripple's general counsel, said. An associate professor at George Mason University's Antonin Scalia School of Law, J.W. Verret, said an SEC loss on the "Howey test" would mean the regulatory threat that hangs over a number of cryptocurrencies "goes away." "The Ripple litigation could bring about quite a bit of change if Ripple is victorious," he said. Jeff Hauser, a finance industry critic and founder of the watchdog group Revolving Door Project, said Ripple's claim is akin to arguing that new cars might not be subject to existing speed limits. "If you have the first 2023 Tesla and you go on the highway, and you're driving 90 miles an hour, and you tell a police officer that you thought the 75 mile an hour speed limit sign only applied to vehicles produced in 2022 or earlier ... you'll get laughed at," he said in an interview. Another potential legal fight that could ensnare the SEC involves its decision to block the launch of Bitcoin-backed funds that would sell shares to investors on public exchanges — a way to ride the price of the digital currency without
February 2022 | Volume 14
having to buy it directly. INSTEAD, the SEC has opted to green-light funds tied to Bitcoin futures contracts — a more indirect financial instrument that the Commodity Futures Trading Commission regulates. Grayscale, a $55 billion investment firm that wants to launch a Bitcoin exchange-traded fund, is building a case that the agency is breaking the law by favoring one model over the other. The firm last year commissioned lawyers at Davis Polk to draft a public letter to the SEC arguing that rejecting a Bitcoinbacked fund would be "arbitrary and capricious." "If you're okay with futuresbased ETFs, you should also be okay with a stock-based ETF," Grayscale chief legal officer Craig Salm said in an interview. Grayscale has not said whether it would sue the SEC if the agency rejected its fund application. Representative Darren Soto (D-Fla.), a crypto-friendly member of the Congressional Blockchain Caucus, said the firm's argument has merit. Soto and Rep. Tom Emmer (R-Minn.) are asking Gensler to allow firms to offer Bitcoin investment products through regulated exchanges. Grayscale throwing down the gauntlet could help policymakers
ramp up the pressure on the SEC, even if it antagonizes the agency. "It's a risky plan, but it's one that's well within their rights," Soto said in an interview. It's not a risk every firm will be willing to take. Valkyrie Investments CEO Leah Wald said that her firm has no plans to pursue the legal strategy Grayscale previewed, even after the SEC blocked Valkyrie's own Bitcoin ETF. "The onus is on us as an industry to have a more amicable relationship," she said. A former chief of the SEC's Office of Internet Enforcement, John Reed Stark, said that bucking the agency's authority can backfire on firms that could have resolved inquiries without incident. After Terraform sued the SEC on procedural grounds over its subpoenaing of CEO Do Kwon last year, the agency filed a countersuit revealing that it was investigating the decentralized finance platform for violating a litany of federal securities laws. Terraform did not respond to requests for comment. "It's very reckless. It's not bold or courageous. It's foolhardy because it didn't have to be this way," Stark said in an interview. "The SEC has dug in. I think they're on very solid ground."
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Income Island Phase 1.5 METAVERSE January 2022
FORGET THE ROCKET, DON’T MISS THE BOAT!
incomeisland
incomeisland
incomeisland
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Crypto Weekly
of the
week
NFT
MoneyZG is a channel dedicated to useful financial information and education. Trading tutorials, how-to videos, useful financial content and information focusing on Cryptocurrency and using technology to invest in other assets will all be here. This week.. Russia legalizes Bitcoin!
MoneyZG: Can’t Believe What Just Happened
February 2022 | Volume 14
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agromatic
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NEWS Crypto Weekly
Bitcoin collapse has echoes of subprime crash, Nobel laureate says: Those who ignore the risks take the greatest risk
N
obel Laureate and crypto skeptic Paul Krugman said cryptocurrencies and the subprime crisis of the 2000s bear "uncomfortable similarities." In an op-ed for the New York Times on Thursday, Krugman wrote that there are disturbing echoes of the subprime crash 15 years ago. Krugman conceded that crypto isn't big enough to cause an overall economic crisis. In light of this, he explained that the recent decline in crypto market capitalization, which is about 6% of U.S. GDP, has had detrimental effects on investors who cannot afford big losses. "That's an order of magnitude smaller than the effects of falling home prices when the housing bubble burst," Krugman wrote.
and aren't equipped to deal with the downside are disproportionately at risk from a crypto collapse. According to Krugman, as the crypto market goes down and Bitcoin BTCUSD, -0.08% loses 50% of its value from its all-time high, minorities and economically disadvantaged groups bear the brunt of the losses. He cites a survey finding 44% of crypto investors are nonwhite, and 55% do not have a college degree. Krugman compared the impact of crypto declines on marginalized and lessaffluent Americans with the subprime mortgage-lending crisis, which was initially celebrated for opening up homeownership benefits to previously excluded groups. However, "many borrowers didn't understand what they were getting into," Krugman wrote.
Krugman wrote that those who don't understand what they're getting into
Krugman wrote that regulators made the same mistake they did with subprime
February 2022 | Volume 14
mortgages: they did not protect the public from financial products they didn't understand, and many vulnerable families may pay the price. Krugman has already written about cryptocurrency in May. He called it a Ponzi scheme, and in 2013, he wrote an op-ed titled "Bitcoin is Evil," saying that it has no legitimate purpose. The Nobel laureate failed to fulfill previous predictions. Krugman predicted in a 1998 article that the Internet would have no more economic impact than the fax machine by 2005. The Nobel Prize in Economics was awarded to Krugman, a Princeton scholar and writer for The New York Times, for his work analyzing "trade patterns and economic activity locations" and for integrating "previously disparate research fields such as international trade and economic geography."
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HIDDEN GEMS Crypto Weekly
PROJECT 1
luckyfairy.io
Lucky Fairy Token (FAE)
luckyfairytoken
LuckyFairyToken
Are you a fan of hitting jackpots on online slots and lotteries, or love to make your income from live dealers, and sportsbooks? Are you also a crypto enthusiast? Get ready! LuckyFairy ($FAE) is a deflationary token launched on the evergrowing AVAX Blockchain. Already partnering with a fully regulated, established online gaming platform in Numbers Game (PlayNumbersGame.com), LuckyFairy garners a 70% revenue share redistributed to $FAE. The token launched with an initial max supply of 777,777,777, conveniently, and carries a 10% tax. The tax breaks down to: 3%-Marketing & Development 2%-Reflections 2%-Liquidity 2%-Prize Pool 1%-Burn Here’s the winning strategy. By utilizing an anti-whale dump mechanism, the max transaction is 0.5% of the total supply, and
PROJECT 2
adacash.io
100% of the tokens revenue from the casino is put back in the $FAE ecosystem to maximize token growth, and will initially be distributed as such, but is subject to change following a snapshot vote from the community: 40%-Lucky Fairy Buyback and Burn Events 40%-Lucky Fairy Events ie. AVAX, ETH, BNB, and crypto airdrop to $FAE holders 19%-Marketing 1%-Charities Keep your eyes on this hidden gem as there are future plans to expand past the online casino and step into the metaverse, as well as Esports tournaments and betting, P2E games, decentralized slots machines, and more, and bringing all these additional features on their Lucky Fairy dApp.
ADAcsh (ADAcash)
adacashtoken
ADACash is the step forward in yield-generating contracts on the Binance Smart Chain (BSC). A revolutionary new token that earns you ADA reflections just for holding. On each transaction 10% is distributed between all holders as CARDANO every 60 minutes dependant on volume. You receive rewards distributed in ADA rather than token reflections and the contract employs a static reward system. This allows rewards to extend outside of simply holding the coin as would a reflection-based coin operate. ADACash’s Tokenomics:
February 2022 | Volume 14
a max transaction on sales, with a 45 second cool down period between buys and sells.
adacashbsc
Token supply of 100,000,000,000,000 ADACash
15% Buy and Sale Tax* • • •
10% ADA is redistributed among holders 2% is used to increase the liquidity pool. 3% is allocated towards funding the marketing wallet.
NOTE: you must hold 200,000,000 or more ADACash tokens to be eligible for the ADA dividends.
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HIDDEN GEMS
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Crypto Weekly
XRise
PROJECT 3
xrisecoin.com
With volatility as the main antagonist of mass crypto adoption, XRise is bringing a smart contract that offers a substantial amount of certainty to investors. The goal being to minimize risk and loss that all too often, troubles the BSC space. XRise does this by controlling the max sell limit on every transaction, nurturing exponential growth. Purchases carry no upper limit, and laddering out (safely taking profits) is welcomed. If you invest $1,000, and you have a 500% increase, ($5,000), your day 1 withdrawal would be set at your initial investment, plus 10% of your profit, ($1,000+$400). Let’s say day 2 realizes a 200% profit, putting your remaining $3600 from day 1, at $7200. Your day 2 withdrawal limit would be 10% of your total holdings, ($720). As the process continues, investments and holdings continually grow, while sells have a much lesser impact on the chart.
r
PROJECT 4
FuddoxxToken
XriseCoin
XriseCoin
Initial investment-$1,000 Day 1 (with a 500% increase)-$5,000 Profit-$4000 Day 1 withdrawal limit (Initial investment+10% profit)=$1400 Remaining balance-$3600 Day 2 (with a 200% increase)-$7200 Day 2 withdrawal limit (10%)-$720
of
Brought to you by the powerhouse team at FudDoxx, XRise will launch on the Binance Smart Chain on February 14th and are accepting presale allocations on their Telegram channel. FudDoxx will pay out their staking rewards in XRise, adding holders, and continually growing a consistent upward trajectory to the XRise token.
FudDoxx Token (FDOX)
FudDoxx
FudDoxx
Building on security, FudDoxx offers a wide range of services to benefit the entire crypto space. The team has compiled a list of projects that have passed their extensive verification process. FudDoxx offers doxxing services to bridge the gap between investors and developers. The doxxing info received by the team is securely stored for use in the event that a project scams, and is proven as far as possible, then that information would be released to the public and authorities. FudDoxx Audit service goes beyond the detailed analysis of solidity code. Not only tearing apart the smart contracts, but their risk assessment factors in the audited projects vision, team, maturity, funding, and community.
name a few. The simple navigation process streamlines buying and selling digital art.
The FudDoxx team has also incorporated a beautiful, userfriendly NFT marketplace in their ecosystem, (see for yourself, FudCoinNFT.com), where you will find everything from pixelated images, audio, video, and unique sports memorabilia NFT's, to
FudDoxx Token (FDOX) launched on Binance Smart Chain with a total supply of 100 trillion and has 328 holders at the time of writing. A 12% tax is attached to every transaction which breaks down to 7% LP, 3% marketing in BNB, and 2% native reflections.
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Fuddoxx doesn't stop there!
Swap platform: Complete (Swap.FudDoxx.com) Staking and Farming platform: In development ICO launchpad: In development
With so many avenues for continual success in crypto, FudDoxx truly covers every base with their comprehensive suite of revenue-generating, and security, features.
February 2022 | Volume 14
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BEGINNERS GUIDE Crypto Weekly
T
he beauty of investing is that it's never too late to learn about new things! Whether you're a seasoned expert or just starting, there are plenty of resources available (including Crypto Weekly!) for beginners looking to make their way through these challenging but ultimately rewarding financial times. When it comes to cryptocurrency, the first step is understanding crypto terms. Learning about crypto can be daunting for someone who isn't already well versed with this new world of finance and technology--even if they are seasoned investors from traditional markets. Even if you're not interested in investing in cryptocurrencies, it's essential to have a basic understanding of the terms used by those who are. After all, this is the future of money.
Here are twelve crypto terms that every beginner should become familiar with. With this knowledge under your belt, you'll be able to join the conversation and start investing in cryptos with confidence.
Blocks Blocks are the fundamental unit of storage on a cryptocurrency blockchain. They contain transaction records (buys and sells), and once each block reaches its limit, new blocks are formed to continue any information added within the chain.
Decentralization Centralization might seem efficient and organized, but it is incredibly risky. When too much power is concentrated in one place, it becomes easy for things to go wrong. Decentralization is the answer. By distributing power away from a central point, we can create more resilient and trustworthy systems. Blockchains are a perfect example of this principle in action, and they're only going to
February 2022 | Volume 14
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BEGINNERS GUIDE
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Crypto Weekly
blockchain network. Miners use this algorithm to compete to add new blocks to the chain, and they receive rewards for doing so.
Public Key Similar to your bank account number, your wallet address represents your wallet. Public wallet keys can be shared with others so that they can send you money or withdraw money from your account when you authorize them to do so.
Private Key Fork Did you know? Users can change the rules of a blockchain. As a result of these changes to a blockchain protocol, there are often two new pathways (a fork) one that adheres to the old rules and separates from it.
This encrypted code provides direct access to the cryptocurrency. Just as you wouldn't share your bank account password, you shouldn't share your private key.
Gas Fees become more critical in the future. By requiring majority approval from all users to operate or make any changes, decentralized projects are strong.
Decentralized Finance (DeFi) DeFi is when you conduct financial activities without depending on a bank, government, or other institution.
Decentralized Applications (DApps) Developers build and deploy applications on blockchains to avoid intermediaries. Using decentralized apps (DApps), decentralized finance is possible.
Blockchain transactions are subject to a fee called a gas fee. A miner is going out and collecting cryptocurrency for you on your behalf. You will pay higher fees for faster transaction speeds, while you will pay lower fees for slower speeds.
Market Cap (MC) Market cap is a measure of the value of a cryptocurrency. MC gets calculated by multiplying the price of a single coin by the total number of coins in circulation. Bitcoin currently has the largest market cap of any cryptocurrency.
Proof-of-Stake (PoS) By applying the Proof-of-Stake (PoS) algorithm, users can determine who will validate the following block based on the number of coins. In return, the token owners receive rewards for locking the tokens and securing the network.
Proof-of-Work (PoW) Proof-of-Work (PoW) is an algorithm used to confirm transactions on the
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Whitepaper A Whitepaper is an authoritative guide that provides information about a new crypto project. It is similar to a business plan in the traditional financial world. The Whitepaper is typically written by the project's team and contains sections on the problem solved, the token, the team, and the technical aspects of the project. Cryptos are a new thing for most people, and it can be challenging to understand everything that's going on. If you want to get started with crypto investing but don't know where to start, this article is designed specifically with beginners in mind. By reading through our 12 Crypto Terms For Beginners post, you'll not only learn the basics of what cryptocurrencies are - but also how they work and why everyone should care about them. We hope these definitions have helped clear up some confusion around cryptos so that you're ready when your next opportunity comes!
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FEATURE Crypto Weekly
The Bank Won't let me Spend my $4m in Crypto Profits B
anks have turned away traders sitting on huge gains in digital currencies, fearing they are unwittingly taking money from lawbreakers hiding wealth illegally with the use of digital currencies. What would it be like if you won the lottery but couldn't spend the money? Despite being blocked from their own money, Britain's Bitcoin millionaires have made vast profits on cryptocurrencies.
February 2022 | Volume 14
A cryptocurrency allows money to be moved around without the involvement of a bank or other third parties. A blockchain database is used to record transactions, which are essentially anonymous. There are no names, addresses, or bank accounts associated with the numbers, only unique reference numbers. Investors must clear a number of hurdles before they can convert their cryptocurrency "digital
wallets" to pounds and pence in order to prevent criminal gangs from using digital currencies to transact drugs and weapons undetected. Young enthusiasts have made vast fortunes, in some cases almost overnight, speculating on the prices of coins such as Bitcoin, Ethereum, and Solana. Originally from France, Vincent Fraysse*, 36, now lives in London and he turned €3,000
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FEATURE
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Crypto Weekly
(£2,500) into $4m (£3.9m) by betting on market movements. While he now works for a cryptocurrency hedge fund, it took him two years to convert his crypto profits into sterling. "After finding a bank that would take me on as a client, I underwent about seven months of vetting, then when I managed to withdraw some money and deposit it into an account, the bank blocked the account to conduct further checks," he said. Traders can often wait up to 24 months to access their own money, according to Clive Gawthorpe of UHY Hacker Young, as banks are increasingly concerned about taxes. "Any time they trade coins in and out, they trigger a tax event, some of which date back years," he said. I have a client who has made £25m, and he is just 19 years old." Mr. Etherington said providing proof that trader's tax has been paid is complicated by the fact that some traders use automated software to execute trades automatically. There are sometimes millions of trades to check up on, and figuring out the position is nearly impossible, he said. He explained that there are sometimes millions of transactions to go through, and
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calculating the tax position is next to impossible. “I have a client who makes about 2 million trades per year.” In recent weeks, Nimesh Shah, a tax accountant with Blick Rothenberg, has received an increasing number of calls from private banks seeking to take on newly rich clients but first asking for help cleaning up their tax records. Jaynish Naker, a 29-year-old trader from Leicester, is also struggling. After investing £5,000, he made around £250,000 and quit his accountancy job to start his own crypto-trading company. A bank, however, would not allow him to set up a business account for his venture. It has basically been made illegal for people to use business accounts as a repository for crypto profits, he said. The Telegraph Money previously reported that even those who successfully accessed their gains have been unable to purchase property, as conveyancers have refused to work with them over concerns about money laundering. *Mr. Fraysse swore under a pseudonym so that fraudsters would not target him
February 2022 | Volume 14
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NEWS Crypto Weekly
A woman claims she was groped in Meta's metaverse by a group of male avatars
According to The Mail, a woman reported that male avatars virtually groped her in Meta's metaverse on Sunday.
Meta's Horizon Venues also verbally harassed the 43-year-old.
Another woman reported being virtually groped as a beta tester for Meta's Horizon Worlds.
The Mail on Sunday reported that a 43-year-old British woman was virtually groped by a gang of male avatars on Meta's metaverse earlier this month. A vice president of research for a rival metaverse, Nina Jane Patel, wrote on Medium that three or four male avatars sexually harassed her in Horizon Venues. Her male avatars began harassing her as soon as she walked into the virtual world's lobby earlier this month.
February 2022 | Volume 14
Patel writes in her Medium post that the avatars touched her character inappropriately, made sexual remarks, and took screenshots for several minutes. Patel told The Mail on Sunday she had to take off her virtual reality (VR) headset to escape the virtual world. She said she has been experiencing anxiety since. Insider was contacted by a Meta spokesperson who apologized for what happened. Horizon Venues' spokesperson said, "We want everyone to enjoy their experience at Horizon Venues and find safety tools that can assist in such situations - and assist us in addressing them." Patel did not utilize the platform's reporting features, which allow users to block, mute, or report anyone near
them. In an interview with Insider, Patel said she was not able to do so quickly enough. Our commitment to building Horizon Venues in a safe manner continues in the Meta statement. The more we learn about how people interact in these spaces, the better we will be able to make reporting easy and reliable. " Horizon Venues is a virtual reality experience, which Meta is still developing, that allows users to create avatars so they can watch live events together. Stephen Jones of Insider reported last month that another woman also reported being groped by a stranger through another Meta digital platform - Horizon Worlds. A Meta internal investigation revealed that the victim hadn't enabled the safety features.
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Manifest Performance indicators, balance sheets and regulator guidelines are not the most appealing things to hear about in crypto, but it's necessary for us to operate correctly. Bouncing off of that, there is a certain appeal to a crypto that has its ducks in a row. Countless projects are removing general quality and value from their project and replacing it with marketing and high spirits. We are happy to get people pumped up about crypto, but it has to be done the correct way. For example, you want to tell people key things of what to look for when considering their vote of confidence in that particular crypto. Who is the team? Previous quality projects completed? Are they purely marketing? Is the use case frantically thought of or flimsy? Does the team have a vision of expansion in the future? Does the project rely on people's addiction?
Of course, this isn’t financial advice, but we feel you should have a checklist that you are checking off when you inspect a project. This can be as vast as you want it to be and ultimately can be tuned to your liking. This can be personal auditing procedures or standardized trading strategies. These steps take time to curate correctly and can benefit the user greatly. A simple checklist. Of course you can bend your own rules, but these rules protect you from overvalued and hollow projects. The goal of most of the projects we currently see is short term, under established and widely false. Crypto is fast, this doesn't mean you can forget the key factors of a trade and fundamentals of crypto. Never mistake a tax on a taxation token as a use case or utility.
All that brewing has ultimately led to the market's sour taste and low level mentality. The key to leveling the playing field is a short and sweet one, actually educating people on crypto. A lot of projects will detest what we have to say about them in a formal audit. We have decided to audit any project or firm that audits us, to help people better understand the process. As we pay for more intense auditing services, we can perform even deeper audits of these projects. Meaning, we will bring you the truth. This is going to make us naturally unpopular, we are crypto veterans, we will be alright. We buy the dip!
In summary, don't trust us, or anyone else until you know their tokenomics and team. This is the most basic level of understanding the project. Please make efforts to learn more about the cryptocurrency space overall. We will be in the telegram often to answer people's questions. We don't allow posting of other projects in the group, but if you bring your checklist to us, we can help refine that with you.
Redutoken.com Redutoken.com
The new Cryptocurrency based in London, UK Avaliable on BSC
Super car giveaway - 3 cars over one year, just HOLD KODA
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https://koda.finance
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