James Bachini

*Scoop of Business News 5th August* 1. **Bitcoin Crashes Over 13% as Recession Fears Mount** Bitcoin plummets to $52,586, a multi-month low, as US recession fears and weak economic data shake the crypto market. 2. **Intel Suffers Historic 26% Stock Plunge** Intel loses $30 billion in value, its worst drop in 50 years, following drastic cost-cutting measures and competitive concerns. 3. **Nikkei 225 Suffers Worst Drop Since 1987** Japan's Nikkei 225 crashes 10% amid US economic worries and a Bank of Japan rate hike, marking its biggest drop since 1987. 4. **South Korean Market Hit by Tech Sell-Off, Trading Curbs Activated** KOSPI dives 5.9% as tech stocks tumble and trading curbs are activated amid global recession fears. 5. **BOJ Criticized After Stock Market Meltdown** The Bank of Japan faces backlash after its rate hike triggers a major stock sell-off and rapid yen appreciation.

1

🔥🚀 The Digital Pound Dilemma—Time for Britain to Print Progress, Not Excuses! 💷📈 If the Bank of England’s scepticism about the digital pound—let’s call it 'Britcoin'—were a currency, it’d be Bitcoin circa 2008: misunderstood, underestimated, and poised for disruption. While the ECB 🇪🇺 and Uncle Sam 🇺🇸 are flirting with Central Bank Digital Currencies (CBDCs), Britain’s dithering risks turning the City into a quaint museum exhibit, featuring ledger books 📚 and quill pens ✒️. The kicker? 🔥 📊 93% of central banks are exploring CBDCs (Bank for International Settlements – BIS). 💸 China’s e-CNY: nearly 7 trillion yuan in transactions (Thomson Reuters). 🇸🇪 Sweden’s e-krona pilots are rewriting money flows (Sveriges riksbank). 🌴 Bahamas’ Sand Dollar—fintech isn’t just for big players (International Monetary Fund). Privacy concerns? 🛡️ Sure, they deserve a seat at the table, but not the whole boardroom. Legislation can safeguard freedom without chaining progress. The EU 🇪🇺 is drafting rules (European Central Bank), and the UK should do the same—faster than a Prime Ministerial reshuffle 🔄. Early Mover Advantage: 🎯 £200B GDP boost by 2030 through CBDC (McKinsey & Company). That’s not pocket change—it’s economic rocket fuel 🚀. “Let’s not be the country that invented steam power but decided paddling was good enough.” 💬 Excellent insght from Mehreen Khan 🙏 #Britcoin #CBDC #DigitalCurrency #Fintech #Innovation

2

Dive into the world of algorithmic trading with our comprehensive Certificate Program - Extension Pack EP292 now available! Why should you care? ✅ Master cutting-edge trading strategies ✅ Leverage data-driven decision making ✅ Stay ahead in the fast-paced financial markets This extension pack builds on our core program, offering: • Advanced algorithmic concepts • Hands-on coding workshops • Real-world case studies Don't let this opportunity slip by. Invest in your future today! Curious to learn more? Drop a comment below or DM me for details. #AlgorithmicTrading #FinTech #ContinuousLearning #TradingStrategies

🚀 abrdn Leads UK in Asset Tokenization with Hedera Hashgraph 🌐 In a groundbreaking move, abrdn PLC, the UK's largest active wealth manager, has embraced distributed ledger technology by initiating asset tokenization on Hedera Hashgraph. This initiative, in collaboration with regulated digital asset exchange Archax, marks abrdn as the first major UK asset manager to issue a tokenized security. Key Developments: 1️⃣ Innovative Tokenization: abrdn has tokenized its interests in the Aberdeen Standard Liquidity Fund (Lux) – Sterling Fund, leveraging Hedera Hashgraph's technology. 2️⃣ Strategic Partnership: The collaboration between abrdn and Archax underscores the growing interest and practical applications of digital asset tokenization in the financial sector. 3️⃣ Regulatory Progress: The UK Treasury is exploring fund tokenization frameworks, indicating a strong move towards embracing Web3 technologies across the nation. Technological Advancements: - New Hedera Improvement Proposal: EVM developers have released a proposal to enhance Hedera’s functionality, focusing on improving the allowance and approval mechanisms for HBAR, Hedera's native cryptocurrency. - Enhancing DeFi Capabilities: This proposal is part of Hedera's DeFi 2.0 strategy, aiming to foster innovation and accessibility within the decentralized finance ecosystem. 💬 Discussion Point: How do you think abrdn's move into tokenization will influence traditional financial practices and the broader acceptance of blockchain technology in asset management? 🔄 Share your insights and keep an eye on how these developments might shape the future of finance! #Abrdn #HederaHashgraph #AssetTokenization #Blockchain #DigitalAssets #Fintech 🔗 Dive deeper into Abrdn's tokenization project and its impact on the market 👉 https://lnkd.in/eaWBzsh7 Feel free to share this post to spark a conversation on the future of tokenization and digital finance!

33

BlackRock's really diving into #crypto! They've gone from sceptic to nearly topping the charts with a $16.7bn #BitcoinETF & they have launched the fastest-growing tokenised Treasury fund! 🤯 #onchain #web3 #NFT #Bitcoin #stablecoin #tokenization #DeFi https://on.ft.com/4alJ8er

3

Thoughts on SOL😁 For a month now, Solana has been trapped in a consolidation range since 13th April This is after finding the 5-month $120 level support Potential breakout or break down awaiting? Based on Solana recent upgrades, developments, ecosystem growth, recent Coinbase perpetual futures integration just to name a few, Solana is most likely gearing up for a new Bull phase and this could be the last dip we witness before the resurgence back to $200 levels and new highs. But this is if only, SOL gets to hold above $120 and confirm the reverse of trend by breaking out and closing above the ranging channel res at $160. However if a breakdown is realized, though minimal chances, a drop to $100 could be on the cards.

9

1 Comment

The Crypto flywheel! ⚙ 🔝 ETH's ETF and the UK's stable coin have broken two more regulatory barriers and are fueling mainstream adoption by retailers and brands. As part of this movement, crypto cashback is becoming a notable feature, enhancing engagement with a broader audience. This momentum encourages regulators to remove additional regulatory barriers, creating a positive flywheel for innovation! 🚀

11

There is a lot of voices re MiCA and impact on Reserves and Liquidity. All of designed to protect consumers which should always be a priority. Sure our regulators have to support businesses but not at the disadvantage of consumers.. 🚀 **Understanding MiCA's Reserve Requirements for Stablecoin Issuers** 🚀 The European Union's Markets in Crypto-Assets (MiCA) framework is setting new standards for stablecoin issuers. Here are the key reserve requirements: 🔹 **1:1 Reserve Ratio**: Issuers must hold reserves equal to or exceeding the value of their stablecoins in circulation. 🔹 **High-Quality, Liquid Assets**: Reserves must consist of high-quality, highly liquid assets like cash or government bonds to ensure stability. 🔹 **Segregation of Reserves**: Reserves must be kept separate from corporate assets and held in a bankruptcy-remote vehicle for enhanced security. 🔹 **Regular Audits and Disclosures**: Issuers are required to conduct regular third-party audits and provide transparent disclosures to build trust and ensure compliance. These measures aim to protect users and maintain market confidence, fostering a secure and reliable environment for stablecoins in the EU. 🌐💼 #Crypto #Stablecoins #MiCA #Blockchain #Fintech #Regulation #DigitalAssets --- Feel free to customize it further to match your style or add any additional insights you might have!

1

NODO Referral Bonus Season 2 About NODO NODO is a community-backed prediction market that empowers users to seamlessly transact and trade on real-world trends while rewarding credible traders for their financial insights. It is powered by NODO GEMs, our multichain reward token convertible to major US dollar-based stable coins, enabling our community of growth market users from 14 countries to compete in prediction leaderboards and access expert financial content. NODO has launched a new way for its users to earn rewards. This program is called the NODO Referral Purchase Campaign. Here’s what you need to know: How It Works: - You can earn rewards by inviting other people to use NODO. - When these people (your referrals) make purchases on NODO, you get a reward. - The reward is 50% of what your referrals spend, paid in something called GEMS. - For example, if the people you invited spend $100 in total, you would get $50 worth of GEMS. Important Details: - Rewards are given out every week on Fridays. - You need to earn at least $5 worth of GEMS before you can withdraw your rewards. This program is a way for NODO to encourage its users to bring in new customers. By referring others, you can earn GEMS, which are likely a form of digital currency or points used on the NODO platform. Things to Consider: - Before participating, it’s a good idea to understand how GEMS work and what you can do with them. - As with any referral program, make sure you’re comfortable recommending NODO to others before you start. - Remember that your earnings will depend on how much the people you refer end up spending on NODO. Conclusion NODO is presenting this as an opportunity to earn rewards while helping grow their user base. If you’re already a NODO user and enjoy the platform, this could be a way to potentially earn some extra benefits. As always, it’s wise to read the full details and terms of any program before participating. NODO has provided a link where you can find more information about this campaign. Read Full Details: https://lnkd.in/gy5XW2p2 #Web3 #Crypto #Cryptocurrency #Referrals #Earnings

1

Blockchain slashing transaction fees... 🔪 Last week John Collison gave a presentation called 'The Future of Payments', in which he talked about the use of stablecoins. I know the crypto hype has simmered down recently, but it always seems like the most interesting stuff happens in those moments. And as this relates to e-commerce, I really want to share this. In the demo (link in the comments), you can see John checking out using USDC - a stablecoin to pay via the Solana blockchain via the Phantom wallet. It settled in less than a second and costs $0,0037 in network fees. Compare that to a couple of % on a typical e-commerce transaction! This is mind-blowing. 🤯 Packy McCormick from Not Boring summarised it well: "What happens to the GDP of the internet when everything gets 3% cheaper? It’s a win for consumers (who pay lower fees), for merchants (who get paid instantly), and for Stripe (which expands its margins, circumvents the credit card companies, and potentially lays more groundwork to compete with the credit card networks)." Fascinating to see how blockchain can actually impact the world of commerce! #blockchain #crypto #payments #ecommerce

20

7 Comments

ClearBank announced it has been selected by Poundtoken to provide banking services, allowing it to hold its fiat-backed stablecoin reserves at the Bank of England. poundtoken.io is the first British regulated sterling stablecoin issuer. The fiat equivalent value of Poundtoken (GBP) is “held in safeguarded and segregated bank accounts, meaning it is always redeemable, one-to-one, for pound sterling.” By providing safeguarded bank accounts, ClearBank enables “the stablecoin reserves to be held at the Bank of England, offering greater peace of mind for holders.” #blockchain #crypto #stablecoin #digital #future

20

1 Comment

Stablecoin issuer Tether is claiming that it made a net profit of $5.2 billion in H1 2024... If we were to double that for the year, it would put Tether in league with some of the largest companies in the world (as listed below) Anyone who believes Tether's numbers is either paid to do so or has not done their homework Despite having been in operation since 2014, Tether has never produced a full audit of its accounts Tether’s “attestation reports", such as the one linked below, are not based on unrestricted access to Tether’s financial accounts, as would be the case for an audit Instead, the producer of the attestations, BDO Italia, looks at a “significant sample” of Tether’s stated reserves and verifies their current market value In other words, you have to take Tether's word for it that they have the money they say they have... Tether is supposedly a $115 billion financial institution... No other financial institution of its size is allowed to operate like this, so why does Tether get a free pass? https://lnkd.in/enzTqUwj

22

20 Comments

Good to see the Ethereum thought leaders at least being honest for once... Calling Ethereum an ''internet bond'' is literally calling Ethereum digital fiat, AKA a scam. A ''bond'' is a scam used by governments & central bankers to perpetuate their fiat thefts. A ''digital bond'' is the same thing for nerds who want to become digital central bankers & migrate the fiat scam onto a blockchain.

1

🚨 Key Takeaways from the MrBeast Crypto Investigation 🚨 A recent analysis by Loock.io has uncovered links between YouTuber MrBeast and over 50 cryptocurrency wallets, suggesting potential insider trading and misleading promotions. It appears that his influence was used to boost certain tokens, only to sell off later, which could mean profits for him at the expense of followers’ investments. 💡 Advice for Investors in the Creator Economy: 1️⃣ Do Your Own Research (DYOR): Don’t rely solely on influencer recommendations. Make informed decisions by understanding the fundamentals of any investment. 2️⃣ Look for Transparency: Authentic creators and partners disclose their positions and potential conflicts of interest. Prioritize those who build trust with transparency. 3️⃣ Follow Proven Financial Principles: A diversified, long-term approach generally outperforms high-risk, high-hype investments. Stay grounded. Crypto and creator-led investments can be exciting but remember — influencers aren’t a substitute for sound financial advice. #investing #crypto #influencermarketing #DYOR #creatortransparency #blockchain https://lnkd.in/eBJki4q6

3

Hot off the press - CCData's monthly #stablecoin report for April 2024 In April, the total market capitalisation of stablecoins increased by 4.76% to $158bn, marking the seventh consecutive monthly rise. This is the highest level since May 2022, with the market cap adding $27.1bn since January, thanks to robust trading activity and favourable market conditions. Following #Bitcoin’s previous all time high in March, April saw stablecoin trading volumes on centralised exchanges #CEXs jump by 98.9% to an unprecedented $2.18tn. The #FDUSD stablecoin soared 77.6% in market cap to reach $3.89bn, the highest ever, positioning it as the second most traded stablecoin on CEXs. Trading volume for FDUSD pairs nearly hit $388bn. As geopolitical tensions escalated in the Middle East, #gold prices reached new highs, boosting the market cap of gold-pegged stablecoins like Tether Gold #XAUT and Pax Gold #PAXG by 4.20% and 4.77%, respectively.

33