Monat: März 2023

• NFM Coin is a digital currency focused on recycling and energy conservation in order to reduce carbon dioxide emissions.
• Users can store their NFM Coin tokens in their personal wallets and track current values.
• Elon Musk rescinded his decision to accept Bitcoin for Tesla vehicles because of worries about the mining process.

NFM Coin

NFM Coin is the latest digital currency to emerge that’s all about recycling and keeping the planet safe and clean for future generations. It works to recycle products that are processed in the metals industry while minimizing carbon dioxide emissions, bringing certain products and materials back to life for use in future items. Necat Celik – a spokesperson for NFM Coin – explained how users can store their tokens in their personal wallets, track current values, and send them to other wallets while remaining secure with 2FA verification.

Energy Conservation

NFM Coin is likely making eco-friendly traders feel better about the industry given one of the main concerns about bitcoin and its many altcoin cousins is how much energy they use during their mining and extraction processes. Reports have claimed that the mining process behind bitcoin uses more energy than many developing nations leading some industry heads and crypto fans out there to turn their backs on specific coins (or on the industry altogether).

Elon Musk Advertisement

Elon Musk, South African entrepreneur and billionaire behind companies like Tesla and SpaceX (and now Twitter), announced roughly two years ago that he was going to let crypto fanatics purchase Tesla vehicles with bitcoin which caused prices of Bitcoin to rise into the high $50K range following his announcement. However, Musk found himself worried about the mining process soon after which led him to rescind his decision due to energy concerns.

Environmental Impact

The environmental impact of cryptocurrency continues to be a hot debate topic as it remains uncertain whether or not digital currencies truly do more harm than good when it comes to conserving energy resources on a global scale. As such, initiatives like NFM Coin are important steps towards creating a sustainable relationship between blockchain technology, cryptocurrencies, and our environment.

Conclusion

Overall, NFM coin is an innovative new digital currency helping keep our planet clean by reducing carbon dioxide emissions through recycling efforts while also providing users with an easy way of storing their tokens securely with 2FA verification. With platforms like this working towards finding solutions for sustainable cryptocurrency usage, hopefully we will continue seeing positive changes towards preserving our environment in the near future!

• Crypto firm Paxos is facing charges from the SEC over its issuance of Binance USD, a stablecoin.
• The New York state financial regulator has issued a cease-and-desist letter to the crypto company.
• The SEC has also recently charged other US crypto firms such as Kraken and Gemini for similar offenses.

Paxos Faces Charges from the SEC

Crypto firm Paxos is expecting to face charges from the Securities and Exchange Commission (SEC) over its issuance of BUSD, the Binance-centered stable coin. The New York state financial regulator has issued a cease-and-desist letter to Paxos claiming that the firm should not be providing investors with access to Binance USD any further.

Other Crypto Companies Recently Charged By SEC

The SEC charges aimed at Paxos were delivered through what’s called a Wells notice. This informs a company of pending charges before they’re officially filed. It appears the SEC is all set to label BUSD a security. This is the same approach it has taken to so many other U.S.-based crypto firms and trading platforms including Gemini, Kraken, and Genesis.

Statement From Paxos Regarding Situation

Paxos has since put out the following statement regarding the situation: Effective February 21, Paxos will cease issuance of new BUSD tokens as directed by and working in close coordination with the New York Department of Financial Services… This action does not impact our ability to continue serving new or existing customers, our continued dedication to grow our staff, or fund our business objectives.“

Response To Charges From The Crypto Sphere

Many in the crypto space – including Brian Armstrong, the CEO of rival Coinbase – have taken to social media to say they will do all they can to defend staking services which are not securities according to them.

Paxos Will Fight Charges

A spokesperson for Paxos said that the company will fight these charges claiming: “Paxos categorically disagrees with the SEC staff because BUSD is not a security under federal securities law.“

• Cardano (ADA) price is trading in a bearish zone below the $0.355 support zone against the US Dollar.
• There are two bearish trend lines forming with resistance near $0.3400 and $0.3580 on the 4-hours chart (data feed via Kraken).
• The price could continue to move down if it stays below the $0.3550 resistance zone.

Cardano Price Analysis

Cardano (ADA) price is trading in a bearish zone below the $0.355 support zone against the US Dollar. The price even declined below the $0.340 support and the 55 simple moving average (4-hour). A low was formed near $0.3210 and the price is now consolidating losses.

Current Price Action

The price is now trading below $0.355 and the 55 simple moving average (4-hours). On the upside, an immediate resistance is near the $0.345 zone which is near 50% Fib retracement level of downward move from swing high of$ 03699 to low of 03210 . The first major resistance is at around$ 03500 level which coincides with 55 SMA(4 hours). Two bearish trend lines have been formed with resistances around 3400 and 3580 on 4 hour chart . If there’s an upside break above 3580, then ADA prices could start rising towards 3800 levels .

Potential Support & Resistance Levels

On lower side, immediate support levels lie at 33280 , 320 and 300 respectively . Any further decline could take ADA prices towards 2800 levels . On upper side, 345 , 350 , 358 are potential resistances for ADA prices .

Indicators

MACD – Currently MACD has started losing pace in bearish direction indicating that bears are still holding control over markets RSI – RSI value has dropped below 50 indicating that market momentum has shifted towards bears side

Conclusion

Overall, Cardano (ADA) price could continue to move down if it stays below the 03550 resistance zone

• The founders of a DeFi crypto investment platform, Forsage, have been indicted by the federal grand jury in the District of Oregon for running a $340 million Ponzi scheme.
• The defendants reportedly promoted Forsage as a decentralized matrix project based on network marketing and smart contracts.
• The DOJ noted that Forsage operated as a Ponzi and pyramid investment scheme, taking approximately $340 million from victim investors globally.

Forsage Platform Founders Indicted

The founders of Forsage, a decentralized finance (DeFi) crypto investment platform, were recently indicted by the federal grand jury in the District of Oregon for running a $340 million Ponzi scheme. The four indicted individuals are Vladimir Okhotnikov, Mikhail Sergeev, Sergey Maslakov, and Olena Oblamska – citizens of the Russian Federation.

How Did They Operate?

The defendants promoted Forsage to the public through social media platforms as a legitimate business; however it was not true. In reality, they operated Forsage as a Ponzi and pyramid investment scheme – taking approximately $340 million from victim investors globally. A Ponzi scheme is an illegal form of fraud which pays earlier investors with funds collected from new investors.

Smart Contracts Involved

Forsage relied on smart contracts on Ethereum (ETH), Binance Smart Chain, and Tron blockchains that were consistent with their Ponzi scheme activities. When investors invested in Forsage by purchasing a „slot“ in a Forsage smart contract, their funds were automatically diverted to other Forsage investors.

Justice Department’s Stance

Assistant Attorney General Kenneth A. Polite Jr., of the Justice Department’s Criminal Division stated: “The department is committed to holding accountable fraudsters who cheat investors, including in the emerging DeFi space…Today’s indictment results from a rigorous investigation that spent months piecing together the systematic theft of hundreds of millions of dollars.“

Conclusion

This case serves as an important reminder to all potential cryptocurrency/DeFi platform users/investors to conduct thorough research before investing any money into such projects or schemes.