Daily Crypto NewsEDITION #254, 03 July 2021

My bro is CZ, my bro is OG

Hello #Moni Maker 🧘

Today, in 1915, the first paper money was issued in Turkey. Fiat paper seems to be an indispensable attribute of man from any era. But it is precisely our century that is at the turning point - hints of a visit to Mars, globalization, digitalization, the automation of labor...

So it is an honor to be among the pioneers. Though the news can be difficult at times. But with Digest it's easy! Let's go!

Thailand's financial watchdog filed a criminal complaint against cryptocurrency exchange Binance on Friday for operating a digital asset business without a licence, the latest in a string of crackdowns on the platform by regulators globally.

Thailand's Securities and Exchange Commission (SEC) said in a statement that Binance had been operating a digital asset business "in the category of a digital asset exchange" without a licence.

In Thailand, only licensed firms are allowed to provide services related to digital asset trading, the SEC said.

The Commission had warned Binance over its activities in a letter in April but received no response, it said, leading it to then file a criminal complaint with the Thai police.

So what?

CZ is an interesting fellow. In Russia, his child was caught by the Roskomnadzor, and in England, it was subjected to incomprehensible sanctions. And so on. Now Thailand.

These games with the authorities... is it a part of marketing or what?

We hope BInance won’t find a McAfee script here, or we'll have to change the link below.....

Nassim Taleb, author of the popular books "Black Swan" and "Antifragility," has released his version of the Bitcoin Black Paper, "Bitcoin, Currencies, and Bubbles."

There Taleb gives several reasons why bitcoin's value tends toward zero, why it is failing as a currency and as a means of savings. Also why bitcoin may not protect against inflation.

So what?

We haven't read it yet. We can't comment on it yet. Maybe we can discuss it with the maestro Tony B and tell you more about it.

JPMorgan Says Ethereum Upgrades Could Jumpstart $40 Billion Staking Industry.

Currently, the bitcoin and ethereum blockchains use anJPMorgan Says Ethereum Upgrades Could Jumpstart $40 Billion Staking IndustryCurrently, the bitcoin and ethereum blockchains use an energy-demanding process called proof-of-work to ensure all transactions on the network are valid and that the network’s distributed record is accurate. In order to create a more scalable and energy-efficient system, blockchain development teams, including the progenitor of the decentralized finance movement, ethereum, are switching from proof-of-work to proof-of-stake, where investors lock-up their funds on the blockchain in exchange for rewards.

According to the report, staking today generates an estimated $9 billion worth of revenue annually for the crypto industry. Authors predict that ethereum’s shift to proof-of-stake after the launch of long-anticipated ethereum 2.0 next year will spur adoption of the alternative consensus mechanism and could cause staking pay-outs to balloon to $20 billion in the quarters following the launch of Ethereum 2.0 and $40 billion by 2025.

So what?

And you're asking where in crypto to raise money. Ah yes, not financial advice!

In June 2020, DeFi platforms were collectively making $2 billion to $3 billion a week. Those numbers started rising rapidly last August. They are now steadily exceeding $20 billion per week as of May 2021. At their peak, those numbers were as high as $60 billion.

BEP-20 — is a token standard on BSC (Binance Smart Chain) and it’s capable of smart contracts. It’s safe to say that BEP-20 = ERC20 in the Ethereum network. For example, the CAKE token on the PancakeSwap platform is the BEP-20 token.

And more you can find in our Glossary!

And you...buy Bitcoin! 😉 (it's a good time!)