A Florida man has been convicted in the United States for orchestrating an international scheme that involved violent home invasions aimed at stealing cryptocurrency. The operation targeted victims throughout the country, who were kidnapped and assaulted to gain access to their cryptocurrency accounts. The defendant is facing a minimum sentence of seven years and a […]
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USDC Stablecoin Issuer Considers Moving Legal Home From Ireland to US
Circle, a stablecoin issuer based in the Republic of Ireland, has reportedly announced plans to relocate its legal domicile to the United States. The decision is believed to be a response to the Organization for Economic Cooperation and Development’s (OECD) proposal for a minimum tax of 15% on the profits of larger multinational corporations. Republic […]
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Hashdex Bitcoin ETF Begins Trading — US Now Home to 11 Spot BTC ETFs
Hashdex Bitcoin ETF, one of the 11 spot bitcoin exchange-traded funds (ETFs) approved by the U.S. Securities and Exchange Commission (SEC) in early January, has launched. The fund converted from Hashdex Bitcoin Futures ETF and is trading on the NYSE Arca exchange. US Now Has 11 Spot Bitcoin ETFs Hashdex Asset Management has completed converting […]
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Canadian Police Warn of Surge in Home Invasion-Style Robberies Targeting Affluent Crypto Investors
Canadian law enforcement reports that affluent cryptocurrency investors have become targets of home invasion-style robberies. Both Delta Police and Royal Canadian Mounted Police in Richmond have issued warnings after having dealt with multiple robberies involving prominent cryptocurrency investors over the past year.
Wealthy Crypto Investors Become Targets in Canada
Over the last 12 months, numerous home invasions have targeted wealthy digital currency investors throughout Canada. A press release from Delta Police headquarters reveals that both Delta and Richmond’s Royal Canadian Mounted Police (RCMP) have responded to several such incidents.
“It appears someone is targeting these victims for cryptocurrency, and we believe this public warning is necessary in the interest of public safety,” staff sergeant Gene Hsieh of the Richmond RCMP Major Crime Unit stated.
Authorities have chosen not to disclose specific details, including the number of crypto assets involved. However, they did mention that “large amounts” were at stake in these cases, and investigations are currently underway. One arrest has been made, but it remains unclear whether the individual is connected to the other home invasions. In each case, the perpetrator disguised themselves as an authoritative figure or delivery person to enter the victims’ homes.
After breaking in, the suspects quickly extract information that allows them access to the victims’ cryptocurrency accounts, according to law enforcement officials. “The suspects appear to know the victims are heavily invested in cryptocurrency, know where they live, and are robbing them in their own homes,” remarked staff sergeant Jill Long of Delta Police Investigative Services.
Canadian police advise against letting delivery personnel enter your home, suggesting instead to request they leave packages outside. Additionally, they recommend keeping valuables in a safety deposit box or with a financial institution. The authorities also caution against discussing personal wealth with strangers and discourage mentioning it in public or on social media platforms.
How do you think the rise of cryptocurrency wealth is impacting personal security measures, and what precautions would you suggest to these high-value investors to protect themselves? Share your thoughts in the comments section below.
Elon Musk Warns Commercial Real Estate ‘Melting Down Fast’ — Predicts ‘Home Values Next’
Tesla and Spacex CEO Elon Musk says commercial real estate is “melting down fast,” warning that home values will be next. Some experts disagree with Musk regarding the residential real estate market, including Shark Tank star Barbara Corcoran. However, she agrees that the commercial real estate market is “going to be a bit of a bloodbath before it gets better.”
Elon Musk’s Real Estate Market Warnings
Tesla and Spacex CEO Elon Musk warned about real estate markets in a tweet Monday. The billionaire cautioned that the commercial real estate market is “melting down fast,” predicting that home values will be next.
Musk’s tweet was in reply to venture capitalist David Sacks, founder and partner of Craft Ventures, who extensively discussed the challenges faced by the commercial real estate market through a series of tweets over the past few days.
Sacks highlighted the effects of the Federal Reserve raising interest rates from near 0% to about 5% in the past year, stating that they correspond to the “3 stages of the financial crisis we’re in.” Noting that the first stage is the banking crisis, the second is the commercial real estate crisis, and the third is the government debt crisis, the VC stressed:
We’re seeing the first stage play out now. The second and third stages are yet to come.
Multiple people have warned about the impending collapse of the commercial real estate market, including Shark Tank star Barbara Corcoran. The veteran real estate investor said Wednesday that the commercial market is “in trouble,” stating that “no one has the confidence to buy now” and “no one really believes it’s going to turn the corner.” She opined:
I don’t see that turning around. I think it’s going to be a bit of a bloodbath before it gets better.
Experts Disagree With Musk on Residential Real Estate Market
While Musk warned about a potential decline in home values, some people disagreed. Federal Reserve Governor Michelle Bowman stated on Wednesday that home prices have been “leveling out recently, which has implications for our fight to lower inflation.”
Corcoran similarly told Fox Business Wednesday that the residential real estate sector is beginning to rebound, emphasizing that Musk is wrong. “So you get a Mexican standoff going on, but things are changing,” the Shark Tank star detailed. “The people who are going out there and buying are finding they’re overbuilding. They’re having a hard time getting their hands on the house. And right now, what everybody’s afraid of is the high-interest rates. But the minute those interest rates come down, all hell is going to break loose and prices are going to go through the roof.”
Glenn Kelman, the CEO of residential real estate brokerage operator Redfin, also disagreed with Musk. Responding to the Tesla CEO’s tweet, he wrote:
The loss in demand for commercial real estate is what’s driving demand for residential real estate. People who work from home need more space at home. Sales volume is down because inventory is down. Today, home prices increased for a second straight month.
Do you agree with Elon Musk regarding commercial and residential real estate markets? Let us know in the comments section below.
FTX Boss Ryan Salame’s Maryland Home Searched by FBI in Unexplained Raid
According to unnamed sources, the home of Ryan Salame, the former co-chief executive of FTX Digital Markets, was searched by the U.S. Federal Bureau of Investigation (FBI) on Thursday. The grounds for the raid remain unknown, and neither Salame nor his legal representative have offered any statement concerning the situation.
FBI Conducts Mysterious Search on Home of Former FTX Executive Ryan Salame
On April 27, 2023, a report from the New York Times revealed that Ryan Salame, the former co-chief of FTX Digital Markets, had his million house in Potomac, Maryland searched on Thursday morning.
Salame, who was a key figure at FTX, informed regulators in the Bahamas that the company was misusing customer funds just days before its collapse, according to court documents. The raid was disclosed by two individuals with knowledge of the matter, as noted by reporters Matthew Goldstein and David Yaffe-Bellany of the Times.
The reason for Thursday’s search remains unknown leaving the motive behind the search a matter of speculation. Ryan Salame, who donated more than million to Republican campaigns during the 2022 U.S. election cycle, was a prominent political donor.
Additionally, Salame played a part in FTX Ventures Ltd., a subsidiary of FTX, which invested million in 80 Acres Farms, an Ohio-based vertical farming company. While it’s unclear what the investment’s objective was, Salame was involved in the process.
According to The Times’ report, Salame’s legal representative declined to provide a statement in response to the request, and the FBI also refused to comment on the issue. At 7 a.m. Eastern Time, the search was conducted, and sources forwarded snapshots of FBI agents stationed outside Salame’s residence in Maryland during the operation.
Salame has not faced any criminal charges or been formally accused of wrongdoing. Meanwhile, Sam Bankman-Fried, the founder of FTX, is currently awaiting trial for multiple criminal counts. Three executives from FTX and its affiliate trading company, Alameda Research, have pleaded guilty to charges related to their activities.
What could be the possible reasons behind the FBI’s search of Ryan Salame’s home, and how might this development affect the ongoing investigations and trials related to FTX and its executives? Share your thoughts in the comments section below.
How This 25-Year-Old Traded $2 Billion In Crypto From His Parents’ Home
Per public filings with the Australian Securities and Investment Commission, a 25-year-old registered a million-dollar-worth trading company at his parents’ house. According to a report, the company successfully traded over billion in Bitcoin and other cryptocurrencies.
The trading desk is PO Street Capital, and its founder Darren Nguyen lives in an Australian suburb. The report claims that Nguyen and his company tried to keep a low profile and avoided attracting attention over the past two years.
However, public records were discovered by journalists showcasing a million profit in 2021 and a 1,400% profit when compared with 2020. The trading desk then scored a 0,000 profit as the crypto bear cycle ended.
Crypto Trader Scores Record Profit In 2021 Bull Market
In late 2020, Bitcoin revisited its previous all-time high at ,000. In subsequent months, the cryptocurrency went on a massive bull run.
By February 2021, the Bitcoin price was trading at ,000 before moving upward and reaching a new all-time high north of ,000. As the cryptocurrency doubled in price, the small Australian trading desk saw its profits swell.
As BTC’s price traded to the upside, other cryptocurrencies saw similar or higher profits. The second crypto by market capitalization, Ethereum, rose from under 0 to an all-time high of ,500.
The report claims that PO Street Capital disclosed its performance with the Australian regulator in 2022. However, there is no record of its current profits or trading activity.
With the Bitcoin and Ethereum price trending to the downside, an unfavorable macroeconomic condition, high inflation, and an overall downside trend in risk-on assets, PO Street Capital might have seen its profits dwindle.
These conditions have led to the downfall of major companies in the nascent sector. From once-a-billion dollar hedge fund Three Arrows Capital (3AC) and the second largest crypto exchange in the world, FTX, prominent companies have had to halt operations or declare bankruptcy protection.
As of this writing, Bitcoin trades at ,900 with a 2% profit in the last 24 hours. Other cryptocurrencies in the crypto top 10 by market cap record similar profits and seem poised for further appreciation.
FTX Token Jumps 65% As SBF Returns Home, Can FTT Hold The Gains?
FTX Token (FTT) saw massive gains on Thursday as news of former CEO Sam Bankman-Fried making bail spread across the space. The rapid uptick in the price of the token showed the positivity, albeit brief, that had spread across investors in the token. However, as the dust settles on the disgraced founder, the question now becomes whether the digital asset can hold the gains from yesterday.
FTT Jumps 65%
On Thursday, Bankman-Fried’s parents had put their home up to raise money for the 0 million bond put on the former CEO, with friends and associates speculated to have helped come up with the 10% collateral required for his release. However this was achieved, Sam was released under house arrest.
Soon after the news broke, the price of FTX’s native token FTT made a significant jump. After trending just below for the better part of the week, the 65% push had brought it above .1. This brought renewed vigor to the market and momentum rightfully picked up.
The problem now is that FTT has not done a good job of holding onto these gains. Naturally, the brief surge in price had triggered sell-offs among investors looking to take out some profit, triggering another fall below . In the early hours of Friday, there had been a 9% jump that brought FTT’s price above once more, but even this would not hold.
Support remains weak at and it is now a battle between the bears and the bulls to turn this critical level in their favor. Right now, the bears remain in control of the digital asset with the price sitting at .96, and FTT has struggled to break the resistance mounting at .
What About FTX?
For many in the space who lost money when the FTX crypto exchange collapsed, this is just the beginning of the battle. Charges have already been brought against Bankman-Fried and his associates in what is being called the ‘largest fraud of the generation’ but there is still a long way to go.
On Thursday, it was reported that Paul Hastings LLP had been appointed by a committee to represent the interests of creditors in the FTX bankruptcy case. So far, the new FTX CEO John J. Ray III said he and his team had been able to recover around billion worth of assets.
Former Alameda Research executive Caroline Ellison and FTX co-founder Gary Wang have already pled guilty to fraud charges and agreed to work with authorities. Both have been released on 0,000 bonds with travel restrictions.
As the FTX case develops, it is expectedly going to have a big impact on the price movements of FTT tokens. Given this, investors should exercise caution when investing and trading the cryptocurrency.
Bitcoin (BTC) Price Ahead Of Monthly Close, Go Big Or Go Home
- BTC price trades below 50 and 200 EMA on the daily timeframe despite showing some relief strength.
- BTC rally caught short as price continued to range.
- The price of BTC must close above ,500 ahead of the monthly close as bulls sweat over price movement.
The price of Bitcoin showed strength as Bitcoin (BTC) bounced from its weekly low of ,500 after the increase in interest rate affected its price negatively. The price of Bitcoin has since struggled to regain its bullish run. It has to a region of ,000 with the monthly candle just a few hours away from closing. Many traders and investors hope for a better month ahead as the BTC movement has seen little to no volume for a long time. (Data from Binance)
Bitcoin (BTC) Price Analysis On The Monthly Chart
Monthly BTC Price Chart | Source: BTCUSDT On Tradingview.com
On the monthly chart, the price of BTC has seen more downside than upside, falling from a region of ,500 to a current value of ,450, where the price is struggling to close the month on a positive note.
BTC’s price needs to close above ,500 to begin a small relief rally, as it has continued to trade at its previous all-time high and has tested the region numerous times, with the area acting as support looking weaker with each retest.
BTC must break and hold above the ,500 resistance with good volume in order to restore a relief bounce. If the price of BTC remains in this current structure and refuses to break higher, we could see it retest ,500 support and possibly a lower support area of ,000 on the Monthly chart if there is a sell-off.
Monthly resistance for the price of BTC – ,500.
Monthly support for the price of BTC – ,000.
Price Analysis Of BTC On The Daily (1D) Chart
Daily BTC Price Chart | Source: BTCUSDT On Tradingview.com
In the daily timeframe, the price of BTC continues to trade below key resistance as the price remains in a range to break above to higher heights.
The price of BTC on the daily chart showed strength to break out above ,500 as the price faces rejection in an attempt to break out of its range-bound movement.
The price of BTC trades at ,460 below the 50 and 200 Exponential Moving Average (EMA). The prices of ,500 and ,000 correspond to the prices at 50 and 200 EMA for BTC on the daily timeframe.
BTC needs to break and close above ,500 for the price to gain momentum as the current price action hasn’t been favorable for BTC’s price.
Daily resistance for the BTC price – ,500.
Daily support for the BTC price – ,000.
Featured Image From Dictionary, Charts From Tradingview
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NSFW.App Announces Brand Overhaul To Give All NSFW Content A Safe And Censorship-Resistant Home
Adult content creation is a booming business. Although big studios dominate the landscape, individual creators have found a home on OnlyFans and similar platforms. Unfortunately, those platforms can easily prevent creators from distributing their content, and they charge exuberant fees on top.
Adult Content Remains Booming Business
One cannot deny the appeal of platforms like OnlyFans. Content creators can custom-tailored content packages for their fans and explore revenue streams. Moreover, it enhances the interaction level between creator and fans, which would not be possible otherwise. However, the downside of such platforms is how they charge up to 40% per transaction, reducing the amount of money going back to the creators.
Additionally, OnlyFans shocked the world by trying to move away from adult content in 2021. It was a very curious decision – which was ultimately reversed – but it also highlights how these platforms can censor content on a whim’s notice. That poses a significant threat to adult content creators. For now, OnlyFans still allows this type of content, but nothing prevents them from changing their mind yet again.
Despite the threat, OnlyFans was valued at nearly billion in 2021. A significant amount for a company that can shut down specific content creation in a heartbeat. Additionally, it also confirms the need for such platforms by both content creators and fans, as people are passionate about supporting their favorite creations. Thankfully, there are some alternatives available today, removing the need to rely on centralized platforms.
Content should always be accessible by anyone in any region without compromises. Unfortunately, that is not always possible when dealing with platforms like OnlyFans. However, solutions like NSFW.app offer a welcome alternative with the help of blockchain technology and cryptocurrencies.
Decentralized Content Distribution Is Key
The approach by NSFW.app introduces a decentralized way of sharing content, be it adult-oriented or otherwise. Its beta launch in December 2201 attracted much attention and brought over some well-respected content creators to the new platform. More importantly, content creators pay no fees, ensuring they can continually increase their production value by reinvesting their earnings.
Using major cryptocurrencies and PornRocket as a payment method ensures users remain pseudonymous at all times. Moreover, financial institutions have no option to prevent transactions from completing. In addition, the platform will enable support for credit and debit card payments in a future version, giving fans more options to support their favorite creators.
The NSFW.app platform will soon exit its beta phase and become a fully-launched service. That transition introduces many updates to the UX and UI, together with a brand overhaul. Additionally, the team introduces a cross-chain bridge between BNB Chain and Ethereum to enhance the platform’s sustainability and growth potential. The global rollout of this application will focus on fostering talent across EMEA and North America first.
Moreover, the platform will gain more momentum beyond the adult content industry. Any content in the “not safe for work” category can find a home on NSFW.app. New verticals to be explored include gaming, illustration, sports, music, and more. All creatives are welcome to submit their content to the platform and tap into a global audience.
Closing Thoughts
There is a growing need for platforms and services that offer resistance to censorship. Creatives should express themselves without constraints, as everyone deserves a fair chance at finding their audience. Moreover, platforms like OnlyFans are a typical Web2 construct: centralization of data and control at the user’s expense. That situation is no longer sustainable, especially on the cusp of unlocking Web3 potential.
Solutions like nSFW.app confirm there is a bright future ahead for all types of content creators. Not dealing with centralized entities telling one what to do or not do is a big step forward. Furthermore, the zero-fee structure for content creators ensures those who make content are in a strong financial position. Revenue can be sued to up the production quality, explore new content niches, and empower the users, as it should be.