Britspotting

• Bitcoin (BTC/USD) remained confined to a relatively tight range during the Asian session.
• Upside price objectives of BTC/USD include the 29244.66, 29639.37, 30127.80 and more levels.
• Technical Support is expected around 25256.83/ 24224.60/ 21753.70 with Stops expected below.

Current Price Activity

Bitcoin (BTC/USD) remained confined to a relatively tight range early in the Asian session as the pair was a little better after trading as low as the 27027.88 area, representing a test of an upside retracement level associated with buying pressure around the 15460 level. Stops were elected below the 27252.39 area during the ongoing depreciation, a downside price objective related to selling pressure around the 28839.68 and 28500 levels. Technical trading activity was also evident when BTC/USD was supported around the 26678.16 level during a pullback, a test of the 23

• Joselit Ramirez, the top authority on crypto policies in Venezuela, has been removed from his position and arrested for suspicion of participating in a scheme to steal from Venezuela’s oil operations.
• Venezuelan President Nicolas Madura has ordered a restructuring of the Superintendency of Crypto Assets and Related Activities (SUNACRIP) following Ramirez’s removal.
• A new board headed by Anabel Pereira Fernández will lead the organization going forward.

Joselit Ramirez Arrested

Venezuela’s top authority on crypto policies, Joselit Ramirez, has been removed from his position and arrested for suspicion of participating in a scheme to steal from Venezuela’s oil operations.

SUNACRIP Restructuring Decree

Venezuelan president Nicolas Madura removed Ramirez from his position for allegedly participating in a plan to steal from the country’s oil operations. Decrypt reports Ramirez’s removal does not affect only him but also a large portion of the department. The Venezuelan government has called for a comprehensive restructuring of the Superintendency of Crypto Assets and Related Activities (SUNACRIP). According to the SUNACRIP Restructuring Decree, the board will plan the next steps for the department.

President Maduro’s Statement

President Madura declared: That it is the duty of the State to take all measures at its disposal to protect the Venezuelan people from the negative effects of the multiform aggression that is taking place against the country and, especially, against its economy.

New Board Appointed

The restructuring will be coordinated by a mixed commission comprising a president and four directors endorsed by Madura. The Ministry of Economy, Finance, and Commerce will supervise the operation. A new board headed by Anabel Pereira Fernández will lead

• MinePlex, a Singapore-registered cryptocurrency company, is taking legal action against VTV Channel for attempting to damage their blockchain project’s reputation.
• The company sent an official letter demanding the rebuttal to the false allegations presented on March 9, 2023.
• MinePlex insists that they have full legal bases and operating conditions, never claimed to be a traditional bank, and never promised profits.

MinePlex Takes Legal Action Against VTV Channel

MinePlex is a Singapore-registered cryptocurrency company ready to take legal action against VTV Channel for trying to damage the blockchain project’s reputation. The company contacted the law firm and sent an official letter demanding issuing the rebuttal to the false allegations presented on March 9, 2023.

Background of Issue

The issue started when the national Vietnamese broadcaster channel VTV published on their website a video and an article titled “The electronic bank self-proclaimed as MinePlex operates illegally” that blamed the company for operating activities, seducing participants to join what journalists presented as a pyramid.

Claims from MinePlex

First of all, per MinePlex’s letter, the company “has full legal bases and operating conditions”. The firm is registered in Singapore as MINEPLEX PTE. LTD. under the registration number 202025952D. The transparency of their operations can be also demonstrated by the successful pass of KYC team check from international company CertiK. Secondly, MinePlex insists that they never claimed to be a traditional bank but informed customers about partnering with traditional banks in order to offer financial services like payment cards since launch of their project. Thirdly, in the letter they explained that neither did they promise profits but rather mentioned possibilities during interviews with CFO Fyodor Bogorodsky such as growth of PLEX token up to $1 500 which had no promises attached or context implying any kind of promises was made towards users. Finally, MinePlex also took accusations regarding being Ponzi scheme very seriously pointing out that there is already launched ecosystem + tech development progress demonstrating there is no lack of product whatsoever present at this stage in time..

Legal Action Taken by Mineplex

In response to these allegations and false claims about their business practices, Mineplex has taken steps towards legal action against VTV by sending them an official letter demanding rebuttal and rectification for any damages caused due to misinformation from VTV channel’s end on top of potential further measures such as court cases if necessary (all depending on reaction from other side).

Conclusion

Defamation cases are not uncommon when it comes media outlets around world although practice may vary greatly depending on location/industry etc – this case involving Mineplex & VTV clearly demonstrates this fact yet it also shows how technology matures bringing potential cases into play responding controversial practices in journalism (which are unfortunately quite common).

• Near Protocol is shifting to become a “Blockchain Operating System” (BOS)
• The system will enable users to discover open web experiences, compatible with any blockchain
• It also provides developers with pre-built frameworks and libraries for user profiles, payments, notifications, and platform search.

Near Protocol Shifting Focus to Blockchain Operating System

Near Protocol is shifting its focus from a sharded, proof-of-stake layer-one blockchain to a “Blockchain Operating System” or BOS. This shift marks a significant turn to the protocol’s emphasis on building user-centric experiences in the Web3 space. The Blockchain Operating System (BOS) will operate as a product-first platform that developers can build on and users can participate in as a single space, bridging efforts between Web2 access and Web3 use.

Features of BOS

The features of BOS include asset creation and management, smart contract implementation, composable decentralized applications, as well as developer tooling and socialization features. Additionally, it offers wallets from one chain to interact with another via seamless bridging. It also provides developers with pre-built frameworks and libraries for user profiles, payments, notifications, and platform search.

Benefits of BOS

The primary benefit of Near Protocol’s Blockchain Operating System is that it creates a single point of entry for users to browse and discover open web experiences compatible with any blockchain. This opens up the opportunity for developers to quickly build improved apps while leveraging already existing components without having to host on a localized server or cloud container.

Importance of BOS

The importance of this system lies in creating an easier way for users to navigate within the Web3 space without needing technical knowledge or expertise about different blockchains. By providing an all encompassing access point for various blockchains in one place makes it simpler for developers who are looking into utilizing multiple blockchains at once without confusing navigation or setup processes involved when dealing with multiple blockchains independently from each other.

Announcement by Near Protocol

Near Protocol announced their transition through their blog post which outlined how their Blockchain Operating System works in detail. The idea was first discussed by Illia Polosukhin at ETHDenver industry conference where he highlighted how the composable decentralized front ends can work with any back end regardless if it’s Web 2 or 3 along with any wallet type making interaction between them much easier than before making it faster for developers to build apps which requires less effort if compared down the line when needing changes/updates made on these apps built upon multiple chains simultaneously in future scenarios

• Budverse Cans – Heritage Edition is a collection of non-fungible tokens built on the Ethereum network.
• It has 1166 owners since its release in 452 days and its market capitalization is 362.43 ETH with an average price of 0.53 ETH.
• The value of NFTs from Budverse Cans – Heritage Edition is difficult to determine as the market for NFTs and metaverses are still developing actively.

What is an Budverse Cans – Heritage Edition?

Budverse Cans – Heritage Edition are a non-fungible tokens collection built on the Ethereum network launched in 29 November, 2021. 1,907 items of the Budverse Cans – Heritage Edition collection can now be viewed at OpenSea.

How many owners does the Budverse Cans – Heritage Edition collection have?

The total number of owners has reached 1166 within 452 days since its release.

Price and Sales

The market capitalization of Budverse Cans – Heritage Edition NFT collection is 362.43 ETH. Since created the Budverse Cans – Heritage Edition, 3,190 collections sales were made at an average price of 0.53 ETH (~$840.07 at the time of writing). This created a total volume in 1,677.711 ETH .The floor price of Budverse Cans – Heritage Edition is 0.2218 and the 30-day trading volume is kept at 9.19 ETH . The payment tokens of the Budverse Cans – Heritage Edition collection are ETH, WETH .

Why are some NFTs expensive and others not?

NFTs are very new to the blockchain ecosystem and are still in their infancy .It is an emerging market meaning there is no historical data or precedence that can assist in determining the value of an NFT .NFT projects that started at the beginning of the market boom have garnered legitimacy purely because they had a first-mover advantage .These “established” NFT projects have also had opportunity to improve and learn from issues that have plagued NFT market and have ,in such way ,made themselves more valuable .When NFT boom took flight ,many people realized profits beyond their wildest dreams creating space for opportunists take advantage growth .While some NFTs can considered digital art ,created by artist who recognizes value can add creative space ,others been made purely out greed need exploit immense growth .NFT projects stem from greed exploitation often no value ultimately garbage .

Is the Budverse Cans –Heritage Collection Over or Underpriced?

It is difficult to determine whether NFTs from Budverse Cans –Heritage Collection overpriced or underpriced .Making such assessment will become clearer when market for NFTs metaverses develops more actively .Price also influenced how developed promoted by creators community

• Sidus NFT Heroes is a non-fungible token collection built on the Ethereum network.
• There are 1223 owners of the Sidus NFT Heroes collection and 5,399 collections sold at an average price of 0.53 ETH (~$913.17).
• The price of an NFT from Sidus NFT Heroes is determined by its development, promotion and market demand.

What is Sidus NFT Heroes?

Sidus NFT Heroes is a non-fungible tokens collection built on the Ethereum network launched in 30 August, 2021. 6,000 items of the Sidus NFT Heroes collection can now be viewed at OpenSea.

How Many Owners Does the Collection Have?

The total number of owners has reached 1223 within 536 days since its release.

Price and Sales

The market capitalization of Sidus NFT Heroes NFT collection is 788.07 ETH. Since created the Sidus NFT Heroes, 5,399 collections sales were made at an average price of 0.53 ETH (~$913.17 at the time of writing). This created a total volume in 2,888.300 ETH. The floor price of Sidus NFT Heroes is 0.118 and the 30-day trading volume is kept at 27.32 ETH. The payment tokens of the Sidus NFT Heroes collection are ETH, DAI, WETH, USDC.

Why Are Some NFTS Expensive And Others Not?

NFTs are very new to the blockchain ecosystem and are still in their infancy. It is an emerging market meaning there is no historical data or precedence that can assist in determining the value of an NFT. Projects that started at the beginning of this market boom have garnered legitimacy purely because they had a first-mover advantage as well as having opportunities to improve and learn from existing issues with this market growth making them more valuable overall than those created purely out greed or exploitation which often lack any real value and cause issues for others trying to gain legitimate profits from this space such as digital artists who recognize value added through these collectibles .

Is The Collection Over Or Underpriced?

It is difficult to determine whether NFTS from this collection are overpriced or underpriced until there’s more active development within this market space and fuller understanding gained around how it was developed or promoted by its creators/community – both factors influencing its value significantly .

Sidus Fees

Buyer fee to dev: 0 basis points Seller fee to dev: 1000 basis points Buyer fee to opensea:i

Tether’s Financial Resurgence in 2022

• Tether had been beleaguered throughout 2022, but managed to improve its financial situation drastically with a $700 million Q4 net profit.
• This allowed them to get the commercial paper off of their books, confirmed by an attestation report from BDO Italia at the end of December 2022.
• Tether has proven its stability and resilience in handling bear markets and black swan events, issuing over $10 billion of USDT.

Overview

Tether (USDT) is a stablecoin pegged to the US dollar that has been amidst much FUD (fear, uncertainty and doubt) due to its ‘dubious’ backing of the US dollar-pegged token. Despite this, Tether was able to improve its financial situation drastically in late 2022 with a $700 million Q4 net profit, allowing it to settle all commercial paper obligations as verified by BDO Italia. This is indicative of Tether’s stability and resilience against bear markets and black swan events – having issued over $10 billion worth of USDT during this period.

Commercial Paper Backing

Upon FUD upon FUD (fear, uncertainty, doubt) has been heaped upon the company behind the Tether USDT stablecoin for quite some time now, and much was made of the ‘dubious’ backing of the US dollar-pegged token. A large part of which was commercial paper – debt securities issued by corporations that mature within 270 days or less. The improved finances have allowed Tether to get the commercial paper off of its books; giving itself a target to do so by the end of 2022 and an attestation report provided by top-5 accounting firm BDO Italia at the end of December 2022 confirming this fact.

Consolidated Reserves Report

The attestation report vouched for the integrity of Tether’s own Consolidated Reserves Report, stating that there was no longer any commercial paper backing on their books; that it had $67 billion in consolidated assets; and that it held excess reserves amounting at least $960 million. Paolo Arduino CTO at Tether said: “After a tumultuous end to 2022, Tether has once again proven its stability […]” He added: “Last quarter, Tether generated over $700 million in profits […]”

Audit Requirement

The only real question mark against Tether’s financial situation is that a third-party attestation is only really a snapshot at a particular time – not an equivalent full financial audit which would allow unrestricted access into their accounts books. Until such time that they do undergo such an audit suspicions from some detractors will remain despite these developments regarding their financial resurgence in late 2021-2022 periods .

Disclaimer

This article is provided for informational purposes only – not offered or intended as legal/tax/investment/financial advice.

• Mastercard, a payments tech firm, has been embroiled in controversy as Satvik Sethi, its former NFT product lead, made public allegations of workplace mistreatment and resigned.
• To make a statement, Sethi minted and sold his resignation letter as an NFT.
• In his post on Twitter, Sethi shared that he was mistreated by the management due to “a series of mismanaged processes, miscommunication [and] internal inefficiency” and had to work side jobs just to make ends meet.

Mastercard’s Fateful Entrance into NFTs

Payments tech firm Mastercard began its foray into non-fungible tokens (NFTs) in 2021. However, it has been met with controversy as Satvik Sethi, its former NFT product lead made public allegations of workplace mistreatment when he resigned from the company.

Satvik Sethi’s Resignation

Sethi took to Twitter to share about his experience working for Mastercard in the past year where his salary package was cut by 40% during the bear cycle and industry-wide decline in NFTs. This happened when he decided to move from New York City to London. He also shared that there were instances when he had to beg “across the hierarchy” of Mastercard just to receive his salary and was harassed by the management due to “a series of mismanaged processes, miscommunication [and] internal inefficiency.”

Minting His Resignation Letter as an NFT

To make a statement after resigning from Mastercard, Sethi asked his Twitter followers for support through minting and selling his own resignation letter as an NTF (non-fungible token). The said letter was minted for 0.023 ETH with all proceeds going towards survival funds for Sethi himself.

Losing His British Work Visa

After resigning from Mastercard, Sethi revealed that he will soon lose his British work visa with a fallback plan of working and being based in India for the foreseeable future.

Conclusion

Mastercard has gone forward with initiatives such as partnering up with crypto firms like Coinbase and acquiring digital asset analytics firm CipherTrace since beginning its foray into non-fungible tokens this 2021. However, recent events have cast a shadow over these efforts due to allegations made by former employee Satvik Sethi regarding workplace mistreatment during his tenure at the payments tech giant which ultimately led himto minting and selling his resignation letter as an NFT out of protest against said mistreatment

1. Polygon (MATIC) has experienced a bullish trend as the launch of its zkEVM Network update draws near.
2. Investors have been pouring more funds into the asset, causing the price to spike by 8.6% in the past 24 hours.
3. MATIC’s current price is at $1.09, up from its price tag of $0.75 seen late last year.

The crypto market has been experiencing a rally and Polygon (MATIC) is no exception. Multiple crypto assets have been climbing towards their peak and beyond, and Polygon’s bullish trend could be a result of its upcoming zkEVM Network update. The launch of the update is now confirmed, which has caused the inflow of investors to increase and fuel the asset’s price.

Polygon is a layer-2 scaling solution built on top of the Ethereum blockchain in order to improve the network’s scalability. The developers of the Polygon network have announced plans to enhance the platform, and the zkEVM Network update is just one of them. Sandeep Nailwal, co-founder of Polygon, recently tweeted that the mainnet launch is coming soon and investors are taking notice.

The past 24 hours have seen MATIC spike in price by 8.6%, mirroring the general bullish trend of other altcoins. MATIC’s price is currently at $1.09, quite a jump from the $0.75 it was at late last year. The 1-day chart indicates that the price is still going strong, with plenty of liquidity at the moment.

The rally in the crypto market and Polygon’s bullish trend could open up opportunities for investors to gain more profits. With the zkEVM Network update coming soon, investors should keep a close eye on MATIC and the development of the Polygon network.

• Aave V3 is now live on the Ethereum mainnet, which includes WBTC, WETH, wstETH, USDC, DAI, LINK, and AAVE as the only supported assets.
• V3 improves capital efficiency and reduces gas costs, while also ensuring better liquidity decentralization.
• The transition to Ethereum did not immediately affect Aave’s total value locked (TVL), with TVL up 24% in the last month.

Aave has recently released its much-anticipated upgrade to its DeFi platform, Aave V3, on the Ethereum mainnet. With this upgrade, users can now enjoy the full range of supported assets, including but not limited to WBTC, WETH, wstETH, USDC, DAI, LINK, and AAVE.

The upgrade is expected to bring numerous benefits to users, as pointed out by co-founder Stani Kulechov. According to Kulechov, the flexible design of Aave V3 introduces new ways of mitigating risks, reducing gas costs, and increasing capital efficiency, all while ensuring better liquidity decentralization.

In addition, the transition to Ethereum, which expands Aave’s presence in other top blockchains, did not immediately affect its total value locked (TVL). Data from DeFiLlama shows that it is 2% lower in the past 24 hours, while TVL is up 24% in the past month, rising to $4.56 billion at the time of writing.

The new upgrade also comes after the Aave community delayed the upgrade. The developers then assessed that immediately improving V2 Pools to V3 would not have yielded the desired level of compatibility with other Aave V3 pools running on Avalanche, Polygon, and Ethereum layer-2 platforms.

To ensure that the upgrade was successful, the Aave developers reworked the current Aave V3 on Ethereum to make it more compatible with other Aave V3 pools outside of Ethereum. This was done while also making the upgrade negligibly complex in comparison.

Now, with the launch of Aave V3, users can enjoy a more secure and robust DeFi platform, with improved capital efficiency and reduced gas costs. Furthermore, the platform also ensures better liquidity decentralization, which can help protect against the risks associated with volatile markets.

With the launch of Aave V3, the company is looking to make its mark in the DeFi space, and bring more users to the Ethereum blockchain. As such, it is expected that the TVL of Aave will continue to rise in the upcoming days and weeks.