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foreign to the coin Bureau weekly crypto review here are this weeks top headlines in the crypto news crypto Market recap an overview of all the crypto and macro factors that moved the market last week and what other effects they could have in the near term where is dokwon INTERPOL issues a red notice for the infamous Terra co-founder as he claims hes not on the run and living life as normal what is going on here circles expansion the usdc stablecoin expands to five additional smart contract cryptocurrencies while circles CEO claims the crypto industry is on the brink of a major transition why you need to pay attention chain Links Major Milestone cryptocurrencys largest on-chain data provider joins forces with the worlds largest banking messaging layer when could link start to Rally British Pound Down the GBP becomes the latest fiat currency to crash against the USD how can you protect your purchasing power if you hold a non-usd currency cbdcs behind the scenes central banks around the world rushed to roll out their dystopian digital currencies before their Fiat currencies collapse everything you need to know and a closer look at last weeks top performing cryptos and where theyre headed next all this and More in just a moment good morning afternoon or evening thank you for tuning in my name is guy and what youre about to see is educational content not Financial advice you can find any topics youre looking for using the timestamps in the video timeline and now for todays top stories last week the crypto Market continued to trade sideways this seems to be due to all the macro factors that have investors uncertain about where the markets will go next if youre subscribed to My Weekly Newsletter youll know that we appear to be on the brink of a Black Swan event that could take most cryptocurrencies to their bear Market lows be sure to subscribe using the link in the description so you dont miss next weeks forward guidance now one of the biggest macro factors thats been weighing on the minds of investors is the ongoing war in Ukraine four pro-russian regions in Ukraine recently voted to join Russia now whether these votes were legitimate or not is a topic for another time and arguably irrelevant thats because it doesnt change the implications of the outcome Russia has reportedly vowed to use tactical nuclear weapons to protect its newly added regions this has led to Serious concerns that a nuclear conflict of some kind is on the cards if that wasnt bad enough two critical pipelines for transporting gas from Russia to Europe were blown up in what is believed to be an act of sabotage who was behind this attack is likewise a topic for another time and again arguably irrelevant as it doesnt change the outcome Europe is now much more likely to face gas shortages in the winter this risk is especially acute in Germany where the government is officially warning its citizens to conserve gas or else there will be shortages note that inflation in Germany also recently hit its highest level since World War II now it doesnt take an economist to understand that the European energy crisis is going to decimate the continents economy this is guaranteed to have spillover effects into other economies most notably the United States where the latest Q2 GDP revision confirmed that the U.S economy is shrinking if you watched yesterdays video about the federal reserves recent press conference youll know that the FED is ready to cause a severe recession to bring down inflation this is according to Fed chairman Jerome Powell and lets just say hes not a man you should bet against these days on that note the pce for August came in much hotter than expected last Friday the pce is the feds favorite inflation measure a high pce reading increases the likelihood that the FED will raise interest rates even more aggressively when its officials meet again in early November between now and then well see the CPI for September which will be released on Thursday the 13th of October if you want to know exactly what this and other upcoming macro factors could mean for the crypto Market be sure to subscribe to My Weekly Newsletter using the link in the description now speaking of stuff that could crash the crypto Market Tara co-founder do Quan is reportedly on the Run this is because Interpol issued a red notice for doe after he was charged by South Korean authorities for violating Capital markets rules doe is also dealing with legal issues in other jurisdictions now obviously this is all because of the collapse of terrors UST stablecoin back in May terrors collapse caused around 60 billion dollars of direct losses and tens of billions of additional losses through its effects on crypto hedge fund three arrows Capital more about them in the description now whats interesting about interpols red notice is that Doe apparently isnt on the official red notice list decrypt asked Interpol why that was and it responded by saying that it quote does not comment on specific cases and individuals and that not all red notices are made public Interpol not including doe on its red notice list would make sense if dough was some high-profile political figure or businessman but doe is your standard crypto project founder everyone knows who he is what he looks like and that hes wanted by authorities around the world whats crazy is that Doe took to Twitter to claim that hes not hiding from authorities specifically he said quote I am making zero effort to hide I go on walks and to malls no way none of crypto Twitter hasnt run into me in the past couple of weeks this wording is admittedly vague as making zero effort to hide could be technically correct even if dough is actually hiding hes just not putting in the effort so to speak then again I find it hard to believe dough could continue to use Twitter without getting scooped up by the authorities surely Twitter works with Interpol whats more is that Doe denied claims that he recently tried to withdraw 67 million dollars of BTC from cryptocurrency exchanges okx and kucoin though called the reports misinformation and said that no funds related to the entities behind Terror have been frozen terraform Labs later came out to claim that the case against dokwon is quote highly politicized a spokesperson for the company told the Wall Street Journal that the South Korean courts are bowing to the social pressure of UST and lunar holders who saw their crypto Holdings go to zero this begs the question of what exactly is going on here and the short answer is I dont know but it sure is one of those stories that seems to be getting weirder by the week speaking of stable coins if there is one issuer that has benefited from terrors collapse its Circle this is not only because the resulting regulations will prevent competition but also because it has allowed usdc to fill the void left by UST this was the headline from coindesk which asked the question of quote whether decentralized Finance can mature with decentralized money at its core regarding usdcs native expansion to Cosmos I suspect the answer is no but it ultimately depends on who you ask in addition to Cosmos usdc will be expanding natively to ethereums arbitrum near protocol optimism and polkadot by the end of the year to clarify usdcs native expansion to Cosmos wont be taking place until sometime early next year if you watched our most recent near protocol update usdc expanding to its blockchain should come as no surprise thats because a former Circle executive recently became the CEO of the near Foundation this is more significant than you think because near protocol is eerily similar to Solana the biggest difference is that near protocol doesnt experience constant outages this has apparently been an issue for Circle 2 particularly since usdc was being heavily leveraged within Solanas ecosystem as such its quite possible that near protocol could replace Solana as usdcs de facto home chain for now though ethereum continues to hold the Lions Share of the usdc in circulation Ill be doing a video about what circle is planning with all these smart contract cryptos later this week so stay tuned for that now another Circle related headline that caught my eye was that the company had partnered with TVD a subsidiary of block formerly known as Square for those unfamiliar block is headed by Twitter founder and former CEO Jack Dorsey who is known for being a Bitcoin maximalist thats why the news that Circle had partnered with TBD to bring its usdc stablecoin to quote lay the foundation to access stable coins globally is so surprising you would think that TBD wouldnt be interested in a centralized stablecoin given that it is a Bitcoin focused company in any case its clear that circle is expanding rapidly despite the crypto bear Market this might have something to do with the fact that most of the usdc in circulation is backed by short-term U.S government debt around 40 billion dollars to be exact ly assuming this entire 40 billion is invested in two-year treasuries this means that circle is earning an interest rate of over four percent per year on 40 billion dollars if you do the maths thats a whopping 1.6 billion dollars in annual interest well over 100 million dollars per month in pure passive income there is a lot you can do with that kind of money especially during a crypto bear Market this means you need to start paying close attention to circle the video Ill be releasing about the Sable coin issuer later this week will definitely help with that anyways another crypto project thats been making the headlines lately is chain link which recently partnered with swift for context Swift is a messaging system used by over 11 000 banks around the world this means that Swift is basically the backbone of the existing Financial system chain Links partnership with swift will see the pair develop a proof of concept protocol that will make it possible to send messages between cryptocurrency blockchains and the existing Financial system in other words itll make it possible for cryptocurrency to interact with the existing Financial system the caveat is that the existing Financial system isnt all that fast it takes days to settle transactions on Swift and that means the proof of concept protocol wouldnt do all that much to improve the existing Financial system if it becomes adopted the bigger question is whether this protocol would increase the demand for link if it does get adopted and the answer seems to be no thats simply because link is used to pay chain link Oracle providers for their services these Oracle providers then turn around and sell their link for Fiat even so that doesnt mean that there couldnt be a speculative pump associated with Swifts chain link integration if it comes to pass the only problem is that this speculation is nowhere to be found during a crypto bear Market case in point link continued to crash despite this significant news now another problem is that chain Links Swift partnership may not actually be all that significant thats because the consensus in cryptocurrency and elsewhere is that these proprietary interbank messaging systems are on their way out Swifts partnership with chain link may be evidence to that effect to my mind the only reason why Swift would partner with a crypto project is because its trying to keep up with the times its not all that different from all these publicly listed companies adopting nfts when they know deep down that decentralized Alternatives will replace their intermediated business models still this doesnt take away from the fact that chain link is building cutting-edge Tech thats attracting the attention of seriously significant institutions my only hope is that this somehow manages to reflect in Links price especially since much of chain Links operations seem to be financed by its selling of Link now as disappointing as Links price action has been its nothing compared to the price action of the Great British pound one of those words is clearly redundant which has been absolutely brutal my beloved British pound fell by a full four percent against the US dollar last Monday thats more than most coins on that day God Save the King indeed in all seriousness its important to remember that the pound has been falling against the US dollar for decades this has been the case ever since the pound stopped being the worlds Reserve currency around World War one note that the US dollar became the worlds Reserve currency after World War II since that time a series of crises have taken the pound ever lower this time it was the UKs energy crisis specifically the UK governments response to said energy crisis our new prime minister and her Chancellor saw it wise to simultaneously spend billions of pounds to subsidize energy while also cutting taxes for the rich this is called burning the candle at both ends and its a concept that many people in power dont seem to be familiar with thats probably because theyve never had to live with the consequences of their decisions in this case that was the sudden insolvency in the UK debt Market which threatened UK pensions the UKs currency crisis also threatened BlackRock which in turn threatened to Halt trading of UK government debt on its platform for reference BlackRock is the largest asset manager in the world and theres no way in hell its going to lose money because of some BS government policy now Ill be covering this policy show in a video later this week so keep your eyes peeled anyways the bank of England subsequently bailed out the bond market and vowed to do whatever it takes to protect the pound from completely imploding so far so good but its quite possible that the worst is yet to come thats because the UK is facing an energy shortage like the rest of Europe given that all international trade is done in US Dollars the UK will have to sell large amounts of British pounds to get the dollars it needs to buy energy this will further suppress the pound at the same time the bank of England is way behind the curve on inflation interest rates are a measly 2.25 while inflation continues to flirt with the double digits meanwhile over in the states the FED continues to flex its muscles and is dedicated to crushing inflation at all costs at the end of the day it doesnt matter though because all Fiat currencies are doomed to fail the British pound happens to hold the record as the longest surviving fiat currency its been around for over 325 years but that doesnt mean its immune from economics and human fallibility the moment you give a person the power to print currency eventually that power will be abused to a point that said currency becomes worthless this has been proven time and time again throughout history and its a lesson that many countries are going to learn the hard way in the not so distant future the inevitable collapse of physical Fiat currencies is why central banks around the world have been scrambling to develop their Central Bank digital currencies or cbdcs not surprisingly the bank of England has been one of the most active in this regard but its not the only one over 90 percent of central banks are actively exploring cbdcs according to the bank for international settlements or bis fun fact the bis is the bank for central banks and it has been coordinating the rollout of cbdcs around the world more about that in the description now Australia recently announced that it will be testing its digital Aussie dollar mid next year this is around the time that the feds own fast payment service is supposed to be rolled out note that fast payment services are effectively a precursor to cbdcs according to the bis naturally Russia is working on its own cbdc which it plans to use for trade with China Russias digital Ruble is reportedly expected later this year and Chinas own digital Yuan appears to be entering its final phase of rollout note that these are retail cbdcs meaning they will be used by regular people next we have a cbdc test which involved Hong Kong Thailand the UAE and China that was apparently very successful this test involved the biss so-called multi-cbdc platform or mcbdc which is thankfully restricted to wholesale cbdcs that are intended for select individuals and institutions this is similar to the biss so-called Icebreaker Hub International cbdc experiment which will feature Norway Sweden and Israel note that Norway is reportedly testing its upcoming digital currency on ethereum Israel reportedly did the same last summer the more you know it seems that the only thing thats left for the central banks to do is find some way of getting rid of cash now Ive long speculated that inflation is how they will achieve this and it looks like that prediction is starting to play out due to seemingly unrelated reasons nobody will want cash when its worth nothing luckily there is no way for these central banks to stop cryptocurrency especially BTC there will always be a way to get your hands on cryptocurrency so long as the internet is intact lets hope they dont do anything funny on that front so turning to the charts we can see that BTC is on the brink of breaking down this is the case on the daily the weekly and the monthly all we need is a catalyst to trigger a sell-off I reckon all that Credit Suisse stuff could be a good candidate if it turns out to be as serious as social media is making it seem last weeks top performing cryptos were Terra classic Quant Network Reserve rights helium and make a doubt so starting with Terra classic lunk rallied on the news that binance will begin using a portion of all lunk trading fees to begin burning its massive Supply lungs price action is unlike anything Ive ever seen and Im not even going to try and speculate on where it could go next all I will say is to exercise Extreme Caution next we have cront Network whose qnt token seems to have rallied because of the corticon conference that CEO and founder Gilbert Verdian attended now this is odd because I dont recall seeing any significant announcements if there were any please let me know in the comments section as you can hopefully see it looks like qnt has finally begun its reversal after a massive rally I expect that it could return to the 100 level in the coming weeks and it will likely go lower if a Black Swan Catalyst like Credit Suisse comes around as for Reserve rights rsr rallied because of the upcoming launch of the reserve protocol which is scheduled for the 10th of October I cant say I know all that much about it and I must admit I am skeptical given rsrs poor performance relative to other cryptocurrencies during this crypto Market cycle similar to qnt rsr is approaching overbought territory and will likely see a massive correction once the reserve protocol is released in short the charts suggest its going to be a sell the news event but bear in mind that the charts arent always right neither am I for that matter now when it comes to helium its hnt token rallied on the continued hype around the Projects migration to Solana Nova Labs the company behind helium also recently partnered with T-Mobile to fill the gaps in its 5G networks as I mentioned hnt never managed to Rally out of the hole its currently in it also seems to be forming a triangle on The Daily which will probably break to the downside if that is the case the target will be around three dollars and it could fall even lower finally we have maker Dao whose mkr token seems to have rallied because nexo paid back a die loan and withdrew wrapped BTC from the stablecoin protocol I reckon there were concerns about nexos massive wrapped BTC deposit after it was revealed that eight U.S states are probing the crypto platform like all other defy tokens mkr is almost back where it was before the last crypto Bull Run began unfortunately it will probably fall lower with the rest of the crypto Market in the coming weeks if youre wondering where the crypto bear Market lows could be you can find out using the link in the description and that is all for todays coin Bureau weekly crypto review if you enjoyed it you know what to do hit that like button subscribe button and Bell icon too if youre looking to maximize your gains during the bear Market the coin Bureau deals page is where you should go you can find the link to that resource and many others in the description below thank you all so much for watching and I will see you in next weeks episode foreign Get The Hottest Crypto Deals Insider Info in my Socials My Merch Store TOP Crypto TIPS In My Newsletter ~~~~~ Essential Videos Last Week’s Crypto Review Fed Press Conference Three Arrows Collapse Near Protocol Updates BIS CBDC Plans Crypto Bear Market Lows ~~~~~ ️ Useful Links ️ ► Do Kwon Claims He’s Not Hiding: ► USDC Expands To 5 Smart Contract Cryptocurrencies: ► Chainlink SWIFT Partnership: ► UK Pension Funds Almost Default: ► Israel, Norway, Sweden CBDC: ~~~~~ - TIMESTAMPS - 0:00 Intro 2:04 Crypto Market Recap 5:07 Where is Do Kwon? 7:55 Circle’s Expansion 11:15 Chainlink’s Major Milestone 13:50 British Pound Down 17:12 CBDCs Behind The Scenes 19:51 Top Performing Cryptos 23:15 Outro ~~~~~ Disclaimer The information contained herein is for informational purposes only. Nothing herein shall be construed to be financial legal or tax advice. The content of this video is solely the opinions of the speaker who is not a licensed financial advisor or registered investment advisor. Trading cryptocurrencies poses considerable risk of loss. The speaker does not guarantee any particular outcome. Crypto News Chainlink CBDC Chainlink,Crypto,News,