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Financial Literacy

Name: Financial Literacy
Address: 335 Christophe Junctions Apt. 413 Port Noemiestad, Birmingham, SC49902, GB
Telephone: +447542182063

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19/09/2023

Crypto.news - Bitcoin critic Peter Schiff warns that Grayscale’s recent legal victory in converting its GBTC to a spot Bitcoin ETF could be bearish for the cryptocurrency.

Schiff wrote in an Aug. 29 tweet, “GBTC becoming a spot ETF is actually bearish for Bitcoin.” He explained that traders can buy GBTC now and sell or short BTC. He added that once GBTC becomes an ETF, the discount to net asset value goes away.

The comment follows Grayscale Investments LLC securing judicial backing for initiating a Bitcoin spot ETF in the United States. Three federal judges annulled the SEC’s decision to prevent GBTC’s conversion to a spot Bitcoin ETF, allowing it to move forward instead.

19/09/2023

Defunct crypto lending firm BlockFi has applied to a court to request the transfer of “trade-only” assets from its users’ accounts into stablecoins so the individuals could withdraw them. The request marks another step toward the return of users’ funds, a process that the company began in August.

On Aug. 29, BlockFi filed an application to the United States Bankruptcy Court for the District of New Jersey to authorize the conversion of the so-called trade-only assets into stablecoins. The assets in question — Algorand’s native token, ALGO, Bitcoin Cash (B*H) and Dogecoin (DOGE) — cannot be withdrawn easily, and BlockFi suggests a one-time exchange for Gemini Dollar (GUSD) or another stablecoin.

18/09/2023

U.Today - Several XRP transactions that make up an impressive total amount together — close to half a billion — have been spotted by the popular crypto tracking service Whale Alert over the period of the last 24 hours.

Ripple Labs giant took an active part in this, transferring part of this massive crypto stash.

Ripple sells 59 million XRP, with 483 million XRP on the move in total
The above crypto tracker spotted three XRP transfers, carrying 424,018,481 XRP; 31,000,000 XRP and 27,600,000 XRP.

18/09/2023

Crypto is a volatile place. Money can be as easily lost as made through the ups and downs of Bitcoin and the wider market, and there are massive decisions to make. Should you just hodl invest and do nothing or actively trade the market? How many coins should your portfolio hold? Self-custody or keep your funds on an exchange with pre-determined stop losses?

Basically, how do you protect your stack from the million and one things that can go wrong? We asked Bitcoin OGs and experts in the space for their advice and opinions.

17/09/2023

Crypto.news - The race for stablecoin supremacy heats up as industry experts debate Tether’s role and new players like PayPal (NASDAQ:PYPL) enter the arena.

Bloomberg Intelligence expert Jamie Coutts pointed to Ethereum’s (ETH) growing dominance, highlighted by key network adoption metrics and layer-2 projects like Optimism, Arbitrum, and Base.

He anticipates that Ethereum’s scaling roadmap will drastically lower layer-2 transaction costs, thanks to the forthcoming EIP-4844. This comes as PayPal recently debuted its PYUSD stablecoin, fueling speculation that it might develop its own layer-2 network.

17/09/2023

On the latest episode of The Market Report, Cointelegraph analyst Marcel Pechman delves into Grayscale’s victory against the United States Securities and Exchange Commission. Even though there’s still no decision regarding the firm’s application for a spot Bitcoin (BTC) exchange-traded fund, the decision was favorable for Grayscale and its Grayscale Bitcoin Trust, which has over $16 billion in assets under

16/09/2023

The biggest new memecoin of 2023, Pepe (PEPE), suffered one of the worst possible fates that can befall a new crypto asset — a partial rug pull after its anonymous developers abruptly sold nearly $16 million worth of the token on Aug. 24.

The official Pepe X (formerly known as Twitter) account explained the drop was due to “three ex-team members” going behind their back and selling the tokens without their knowledge — a move that saw the price of Pepe plummet as much as 26% in the days following, without much respite.

Pepe liquidity held strong despite the sudden plunge. Source: Kaiko

16/09/2023

There are hopes that the United States could see a new crypto resurgence after several rulings this year have seen court judges “rein in the SEC,” according to a digital asset lawyer from K&L Gates.

On Aug. 31, Jeremy McLaughlin, a partner at the global law firm, noted that multiple U.S. court cases have stomped on arguments from Securities and Exchange Commission Chair Gary Gensler, who has said that almost all digital assets are securities.

Dimitropoulos (center-left), McLaughlin (center-right) and Leung (right) speaking on a panel regarding crypto regulation. Source: Tom Mitchelhill/Cointelegraph

15/09/2023

U.Today - Stories about savvy whales and investors making have become a usual part of the cryptocurrency industry, but what about those who do not have the Midas touch but still manage fairly large sums of ?

One such Ethereum investor has been grabbing attention for all the wrong reasons. This individual seems to have a knack for making poor choices when it comes to perpetual contracts, and their recent moves have left many in the crypto world utterly baffled.

15/09/2023

Crypto exchange Binance has encouraged users to start converting their Binance USD (BUSD) stablecoin holdings into other available assets, including a newly listed stablecoin, amid plans to wind down support for BUSD.

In an Aug. 31 statement from Binance, the crypto exchange confirmed prior speculation that it will gradually stop support for BUSD by February 2024 — a decision in line with Paxos' plans to end BUSD redemption at that time.

14/09/2023

Researchers behind the well-known Cambridge Bitcoin Electricity Consumption Index (CBECI) have officially revised its methodology to enhance the accuracy and reliability of the Index’s estimates for the first time since its inception in 2019.

The CBECI was launched in July 2019 in an effort to provide reliable data-driven insights to questions about Bitcoin mining’s energy-intensive nature and associated environmental impact.

CBECI looked at U.S. import records on Bitcoin mining equipment (left) and estimated computing power derived from import data (right). Researchers used the hash rate (in TH/s) and gross weight stated by the manufacturer and applied an equally weighted mix of the following models from Canaan’s Avalon A1246, Avalon A1266, Avalon A1346 and Avalon A1366

14/09/2023

Crypto.news - The Ethereum (ETH) price saw a notable surge on Aug. 29 after consolidating around the $1,650 mark for ten days.

However, Santiment data suggests there are still more daily transactions in loss. According to the market intelligence platform, the ratio of daily profit and loss transactions dropped to 0.62.

ETH price, ratio of daily transactions in profit to loss and whale activity – Aug. 30 | Santiment

Per Santiment, the ratio hit a three-week high of 1.37 on Aug. 29, when ETH was trading at around $1,740.

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