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Russia’s Sberbank Wants Approval To Launch Their Own Crypto

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Russia’s Sberbank seeks approval for its own cryptocurrency while the local court removed Binance from the list of blacklisted internet domains so let’s read more in today’s crypto news.

Russia’s Sberbank reportedly sought approval from the central bank of the country to launch its own cryptocurrency through a blockchain platform. The Russian court removed the leading crypto exchange Binance from the regulator’s blacklist. According to the local reports, the bank is one of the largest in the country it has now applied with the central bank to register a blockchain platform. If the Central Bank of the Russian Federation approves the application, the bank could leverage the blockchain platform and create its own cryptocurrency. Anatoly Popov who is the deputy chairman of the board says that the main goal is to launch the digital asset in the spring of the year:

 “Sberbank filed an application with the Bank of Russia to register its blockchain platform in early January since digital financial assets in accordance with the law can be issued on a registered platform.”

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Sberbank Building. Source RT

Popov explained that the bank tested the technology and saw that this is actually a solution that works. The Russian laws dictate that the registration procedure can take up to 45 days and the country’s central bank will be able to use the timeframe to address potential issues or challenges. The Malta-based crypto exchange said that last year a court in the Arkhangelsk region ruled to block the domain from being accessed in the country’s borders and the court argued that the platform helped distribute information about Bitcoin.

Binance Could Delist, CZ, zhao, exchange

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The company said that the blacklisting came with no previous warnings issued by the Russian authoritiess and the law enforcement. Binance noted that it requested legal assistance and promised to fight for overruling the decision. It now seems that Binance succeeded as the court overturned the ruling. The users based in Russia will be able to have full access to the exchange’s websites as it was removed from the register of banned internet resources. Director of Binance Russia Gleb Kostarev said:

 “We hope that with the adoption of transparent laws in the field of cryptocurrency regulation in Russia, such cases will become a thing of the past, and regulatory uncertainty will no longer negatively affect the development of cryptocurrency projects in Russia.”

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Source: https://www.dcforecasts.com/altcoin-news/russias-sberbank-wants-approval-to-launch-their-own-crypto/

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John McAfee Following the DOJ Indictment: The Allegations Are Overblown

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A day after being indicted for several criminal offenses, including money laundering schemes and fraud, John McAfee has called the allegations brought by US authorities “overblown.” The former software antivirus creator also defended his ICO promotions and receiving payments with the particular coins.

DOJ Goes After McAfee

The former antivirus tycoon made a name in the cryptocurrency space a few years back with the “Coin of the Day” campaign, in which he promoted certain low-cap alternative coins and somewhat outrageous promises that if BTC didn’t reach $1 million by the end of 2020, he would eat his male genitalia.

While he failed to complete the latter as BTC came a long way from his price prediction, he received a lot of criticism about the promotions. The situation escalated on Friday as the US Department of Justice brought official charges against McAfee and his executive advisor – Jimmy Watson Jr.

The authorities charged both with conspiracy to commit commodities and securities fraud, conspiracy to commit securities and touting fraud, wire fraud conspiracy and substantive wire fraud, and money laundering conspiracy offenses from two schemes related to the fraudulent promotions.

US Attorney Audrey Strauss said that McAfee and Watson “exploited a widely used social media platform and enthusiasm among investors in the emerging cryptocurrency market to make millions through lies and deception.”

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“The defendants allegedly used McAfee’s Twitter account to publish messages to hundreds of thousands of his Twitter followers touting various cryptocurrencies through false and misleading statements to conceal their true, self-interested motives.”

Ultimately, Strauss explained that McAfee, Watson, and the rest of the team “raked in” more than $13 million from investors.

McAfee Responds: Allegations Are Overblown

The “Coin of the Day” campaign, which later turned into “Coin of the Week,” allowed McAfee to post about various crypto tokens that he supposedly believed were undervalued. Having more than one million followers on Twitter, though, every time he posted about a particular coin, people rushed in to purchase it, which skyrocketed the price.

However, this allowed people who were early on to dispose of their assets in a rather profitable way. It led to sharp price corrections and losses for the investors who followed McAfee’s Twitter publications – this is better known as “pump and dump.”

Nevertheless, McAfee, who is currently in a Spanish prison, offered his side of the story earlier today. He believes that the coins didn’t plummet in value because of an alleged scheme. Instead, he blamed it on the year-long bear market that the crypto market faced in 2018.

Furthermore, McAfee claimed that he and his team kept most coins they received as payments for the promotions and called the allegations “overblown.”

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Source: https://cryptopotato.com/john-mcafee-following-the-doj-indictment-the-allegations-are-overblown/

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Mike Novogratz: Mark Cuban Shouldn’t Accept Doge

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In recent news, it was announced that Mark Cuban – the billionaire owner of the Dallas Mavericks basketball team – will allow Dogecoin to be utilized for purchasing tickets and merchandise related to the team. Many analysts and industry experts see this as a positive move, but Mike Novogratz – a billionaire investor and former hedge fund manager – is less than pleased about the idea.

Mike Novogratz Is Against Dogecoin

Cuban has never really taken bitcoin or crypto seriously, even commenting in the past that he would rather have “bananas” over bitcoin. That said, he does acknowledge that there is a crypto audience out there, and that many are eager to use crypto over cash or credit cards. Thus, he was quick to permit bitcoin payments for ticket sales and merchandise surrounding the Dallas Mavericks.

Now, it looks like Dogecoin will be joining the ranks as an official payment method for the team, something that Novogratz seriously questions. Novogratz has always been a huge fan of bitcoin and respects the technology behind most cryptocurrencies. However, when it comes to Dogecoin, he just can’t fall behind an asset that started out as a joke.

In a recent interview, he stated:

Let’s put people in the safest best stuff, not these joke coins. I think Mark’s making a mistake, there. He’d be better off with 15 other different ways to pay for his tickets.

Dogecoin is often recognized by the cute little Shiba Inu dog that serves as its mascot. While it may not have the same reputation as bitcoin or Ethereum, it can be argued that Novogratz probably isn’t considering all the elements of Dogecoin, as the asset has been on a serious roll as of late.

Just last month, the joke currency spiked by more than 300 percent after several Redditors joined hands on social media to pump the asset. In addition, the currency has repeatedly garnered attention from the likes of Elon Musk, the South African entrepreneur behind billion-dollar ventures such as Tesla and SpaceX. It was even rumored at one point that Musk would serve as the currency’s new CEO, though that never came about.

Still, much can be said for a currency that began the way it did and ultimately paved its way to a $1 billion valuation. Novogratz, on the other hand, doesn’t see things this way. In fact, he’s made tons of money in the past by betting against Dogecoin and claiming it will fall. He says that the currency has seemingly made its way into several young investors’ hearts, but that they stand to lose the most if they listen to these feelings, and that if they’re going to go crypto, bitcoin is the best answer.

BTC Is Still King in His Mind

He says:

That existential threat of bitcoin not being real is gone. Every institution in the world is participating.

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Source: https://www.livebitcoinnews.com/mike-novogratz-mark-cuban-shouldnt-accept-doge/

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How to Earn on Crypto you’re Hodling in 2021

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How to Earn on Crypto you’re Hodling in 2021

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Everyone in the world likes money and even better if you can earn with the money you already have. There has been a sharp rise in crypto price points in recent months so if you’re one of the many die-hard holders out there you are probably wondering how you can get a return from the holdings you already have. Thankfully as the industry has evolved so has the ability for investors to earn on their holdings of crypto assets. This article will talk about some of the ways you can try to make a return on investment for everything you currently have in your portfolio. Some of the earning ways are conventional and others require a little bit of work or substantial knowledge. Nevertheless here are some ways you can earn on your crypto portfolio. 

Staking is the process of actively holding a small to substantial amount of funds in a designated blockchain wallet in order to support a proof of stake (PoS) blockchain protocol. Essentially the investor locks funds into a particular wallet to support the staking process of the blockchain which they are staking on. As with anything in life an individual only does something if they feel they will gain benefit from it so when it comes to staking a stakeholder in the proof of stake blockchain will only lock in their stake if they are going to receive a reward. Many blockchain platforms out there offer proof of stake rewards to those staking crypto in locked wallets and you can earn a staking reward from doing so. When staking you often do not only earn an income from locking in funds but the staking also offers the holder the ability to vote on the blockchains protocol updates. Think of it similar to having voting rights from holding stock in a public company, you will have the right to a proportional vote to your stake on the future of the blockchain protocol. It’s relatively easy to find a company that allows you to stake your crypto and even the big guys like Coinbase offer staking features on their platform.

Peer to peer lending has become an increasingly popular topic in the modern fintech sector these days and the normal financial channels often translate over into the cryptocurrency world. Like with conventional peer to peer lending the way you earn money from the transaction is through interest on the lending of assets. Unlike conventional peer to peer products, the cryptocurrency world offers substantially higher interest returns than its fiat (government issued currency) counterpart. This is not always the case however, but as a general rule of thumb you are set to earn more with a crypto-based lending house.

One trusted example of a medium for lending is Nexo. Nexo offers credit lines to a borrower that are secured against crypto collateral. This collateralized method does away with the need for traditional credit checks since the crypto acts as the bridge of trust if and when the borrower is unable to pay. So you are always safe as a lender in that regard. Nexo clients who deposit funds in fiat or stablecoins can expect to earn returns of up to 12%, whereas clients who directly deposit crypto can earn interest of up to 10% of their holdings. Lenders who hold a minimum percentage of their portfolio in NEXO tokens, and choose to receive payouts in their token are eligible to receive higher returns than those who do not. 

If you are interested in mining for more crypto, another option is to hold shares in an active cryptocurrency mine. Mining is the backbone of the entire cryptocurrency ecosystem. So by investing into a mine you are not only using your crypto to make more crypto, but you are also supporting the entire blockchain community through mining activities. 

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Miners solve complex mathematical equations using graphics processors. Once the mathematical equation is solved, the block is validated and a reward is sent to the miner. Pylon Finance is said to have the largest active ETH mine in North America with return rates for investors of up to 250% per year. 

The easiest way of all to earn money from your crypto may be to deposit your funds into a platform that offers you an annual percentage yield (APY) on the money you hold on their platform. This is similar to depositing money into a savings account at a bank that gives you an annual percentage return on what you hold in your bank account. You can check out the different DeFi depositing options on DeFi Pulse and start earning on your holdings immediately. 

What is important to consider however is that depositing can only be done with crypto assets and altcoins and not fiat currency so this is only a valuable way to earn returns if you are insisting on earning on just your crypto holdings. 

In a similar fashion to earning from DeFi, many crypto exchanges offer earnings programs. These again are similar to depositing into bank accounts and earning interest with the key difference being that the interest earned is usually substantially higher than one would earn from a conventional bank account. That coupled with compounding interest and the gains in the crypto market in recent months makes this option very attractive. Companies such as Crypto.com offer interest on the major cryptocurrencies up to 8% and pay out interest on a weekly basis. Along with being paid weekly you also have your interest accrued daily so you know whatever you are holding is always earning you money, even if your portfolio fluctuates. 

Although it isn’t conventionally set to make you money, you can look to the slot machines and roulette table for extra returns. If you’re a rainman at blackjack, Fortunejack is the oldest Bitcoin casino in the world – so why not try to make some tasty returns there?


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The views expressed in the article are wholly those of the author and do not represent those of, nor should they be attributed to, ZyCrypto. This article is not meant to give financial advice. Please carry out your own research before investing in any of the various cryptocurrencies available.

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Source: https://zycrypto.com/how-to-earn-on-crypto-youre-hodling-in-2021/

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