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Why do you still keep your money on the exchanges

😱 Did you ever consider about the fact that one day the exchange where all your funds are stored may close, as it happened hundreds of times before?

Nowadays there are the two most secure ways to store your cryptocurrency:

🧊 Cold wallet
👝 Self-custodial wallet

But cold wallet costs money, in the case of the self-custodial wallet you don't need to pay anything and it's still safe 🆓

🔐 Self-custodial crypto wallet give users complete control of their crypto assets and private keys.

📢 There are a lot of such wallets, but I would recommend the SAVL wallet as they have a very good reputation and more than 700 thousand generated wallets.
☀️ BRICS Bank Issues First ZAR Bonds as It Looks to Use Local Currencies

🏦 The New Development Bank
(NDB), established by the BRICS bloc of emerging economies, has issued its first bonds denominated in South African rand (ZAR). The auction, which was closed on Tuesday, is part of the bank’s efforts to increase both fundraising and lending in local currencies.

✔️ The auction comes as the bank finds itself under pressure to boost its local currency fundraising and lending, Reuters noted in a report. According to Russia’s Tass news agency, this is NDB’s first issue of bonds in local currency outside China, where it’s based.

📔 The NDB’s Vice-President and Chief Financial Officer, Leslie Maasdorp, pointed out that the bank “is seeking to increase its presence in the local capital markets of its member countries, to fund its robust portfolio of local currency loans.”

💬 The executive also emphasized that “proceeds will be used to fund infrastructure and sustainable development projects in South Africa and the successful outcome sets the benchmark for future issuances by NDB.”
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🇦🇷 Javier Milei’s Victory Divides Argentina; Bitso Launches Cross-Border Institutional Payment Service

The victory of Javier Milei in the Argentine preliminary elections, qualified as a far-right outsider by mainstream media, has sparked a series of consequences in the country’s economy that has caused citizens to take refuge in cryptocurrency and stablecoins.

🪙 U.S. dollar-pegged stablecoins, especially USDT, were in high demand last week, with trading volumes rising by 300% and even up to 500% in some instances, according to local reports.

💲 This dollarization plan has supporters and detractors, with the latter indicating that embracing the dollar would leave Argentina without the means to control its monetary policy and the former stating that dollarization is one of the resources that can stop devaluation and inflation.

🔗 This devaluation escalation is affecting the inflation predictions of private firms, which are now anticipating inflation numbers of up to 200% for 2023. This might limit or condition the economic policies of the next government that must also deal with the debt owed to the International Monetary Fund (IMF).

➡️ Bitso, a Mexico-based, Latam-focused cryptocurrency exchange, has announced the launch of a new product to ease the process of making and receiving cross-border settlements from and to Latam. Santiago Alvarado, Bitso’s Senior VP of Institutional Products, stated:

💬 With this launch, we seek to boost the economies of our region, by facilitating operations between countries and opening trade corridors that increase the development and prosperity of Latin America.
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Self-Custody in Web3

👉 The Web3 infrastructure will almost certainly give birth to more technologies that will improve self-custody in the coming years. Self-custody solutions will vastly improve users’ privacy and give them even more control and ownership over their data.

👉 With the growing importance of digital identity in the modern world, it is essential to take measures to minimize the risk of data breaches or hacks. Projects like SAVL, Sovrin, Verida, and ShareRing are paving the way for users to gain control over their digital identities. These projects are working to ensure that users retain control over their data as the self-custody era of Web3 takes hold.

👉 However, for this vision to become a reality, other key players in the industry must join forces and work together to overcome any challenges that may arise in achieving full control. Only then can the ownership and accessibility of digital assets be truly decentralized for all in the Web3 community.
Ministry of Economic Development of Russia Pessimistic About Quickly Advancing BRICS Common Currency Proposal

➡️ The Ministry of Economic Development of Russia does not expect the rapid development of a common currency for the BRICS bloc. Deputy Economic Development Minister Vladimir Ilyichev stated that “quick breakthroughs” on this issue are unlikely to happen during the ongoing BRICS summit, citing the process the European Union underwent to create the euro.

Vladimir Ilyichev stated:

💬 The BRICS group’s economy accounts for about 25% of global GDP. In our view, it needs an independent payment tool. Discussions of a BRICS currency are relevant. However, the creation of new currencies and payment tools is never a quick process.

Ilyichev explained that these processes take time, noting that the European Union debated the idea of the euro for years before its issuance.

Ilyichev said that, in the current geopolitical situation, payment systems were affected by political circumstances, with Western countries exerting their influence on them according to their objectives and goals. This is another issue worrying BRICS countries and other nations, including Arab and Southeast Asian countries, Ilyichev stressed.
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🔶 Binance Removes Sanctioned Russian Banks From P2P Platform

Crypto exchange Binance has dropped Russian banks under sanctions from the payment options on its peer-to-peer (P2P) platform. Russian traders can no longer use cards issued by these banks to make payments while transactions in foreign fiat currencies are also restricted for them.

💳 A few days ago, Russian crypto media revealed that Binance has renamed bank cards issued by Russia’s largest bank, Sberbank, and the neobank Tinkoff to “green local card” and “yellow local card” after the publishing of an earlier WSJ article alleging that the exchange is helping Russians move money abroad in circumvention of sanctions.

The Russian-language crypto news portal Forklog noted that Russian residents are not allowed to use any fiat currencies other than the ruble. When they try to buy or sell foreign fiat, they are prompted to “Choose your local currency for P2P trading.”

“This is required in accordance with the Binance rules for the country you specified during verification,” the message further reads. Access to P2P transactions in U.S. dollars and euros on were restricted for Russians in compliance with the 10th package of EU sanctions on their country.
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Taking Control Of Your Crypto In 2023 ─ The Advantages Of Self-Custody Wallets

A self-custody wallet is a type of storage wallet that allows you to store your cryptocurrencies securely and privately. By using it, you are able to keep your funds away from the prying eyes of other individuals or institutions. This means that you can avoid the risks associated with exchanges – such as hacks or theft – and still enjoy the benefits of accessing your funds conveniently.

Advantages Of Self-Custody Wallets

If you’re like most people, you probably have a few different wallets for your various digital assets. But what if you could combine all of them into one place? That’s the idea behind self-custody wallets – and they’re becoming increasingly popular among cryptocurrency enthusiasts.

❗️ They allow users to have increased control of their digital assets.
❗️ They offer a high level of security for your crypto holdings.
❗️ Opportunity to earn interest on their crypto holdings.

If you’re considering a self-custody wallet, it’s essential to educate yourself on the benefits and risks and make an informed decision that aligns with your investment goals.

Use only verified self-custody wallets, for example, our team uses SAVL.
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📊 Bloomberg Analysts Boost Spot Bitcoin ETF Approval Odds After Grayscale’s Court Victory

⬆️ In early August 2023, Bloomberg ETF specialists Eric Balchunas and James Seyffart estimated a 65% probability for the approval of a spot bitcoin ETF. However, as August draws to its conclusion, and in light of a U.S. court siding with Grayscale over a legal tussle against the U.S. Securities and Exchange Commission (SEC), the pair have revised their prediction, now pegging the likelihood at 75%.

Barring any delays, the U.S. Securities and Exchange Commission (SEC) is poised to either greenlight or turn down seven distinct proposals for a spot bitcoin ETF.

💬 “James Seyffart [and] I are upping our odds to 75% of spot bitcoin ETFs launching this yr (95% by end of ’24),” Balchunas posted to the social media platform X (formally Twitter). “While we factored Grayscale win into our prev 65% odds, the unanimity [and] decisiveness of ruling was beyond expectations and leaves SEC w ‘very little wiggle room’ via [Elliott Z. Stein].”

➡️ The ETF experts’ opinions follow a D.C. court’s decision siding with Grayscale, the largest crypto asset manager, in its legal battle against the SEC’s refusal to transition GBTC to a spot bitcoin ETF.
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💎 Robert Kennedy Jr: China Doesn’t Want War With US — They Want to ‘Bury’ Us Economically

⚡️ U.S. presidential candidate Robert F. Kennedy Jr. (RFK Jr.) has explained that China does not want a war with the U.S. However, he warned that China wants to “bury” the U.S. economically. “I’m not afraid of the United States competing with China head to head and countries around the world. I think that’s good for us. I think we win that competition,the presidential hopeful stated.

✔️ Among the topics RFK Jr. delved into were China’s global influence and the expansion of the BRICS alliance, which currently consists of Brazil, Russia, India, China, and South Africa. The group recently held its annual summit and invited six countries to join as new members.

➡️ “Nobody wanted to start BRICS. Nobody wanted an alternative to the U.S. dollar. This happened because of our weaponization of the U.S. dollar and the weaponization of our foreign policy, unilateral weaponization, and the weaponization of our control of the world currency,” Kennedy opined. “We were pounding people’s, you know, their personal assets if the government misbehaves.”

🟢 However, the presidential candidate clarified: “They want to compete with us. They want to bury us but they want to do it on an economic playing field. And they need us. You know, they cannot survive without us.”

👉 Regarding the U.S. competing with China economically, Kennedy said: “I’m not afraid of the United States competing with China head to head and countries around the world. I think that’s good for us. I think we win that competition.”
➡️ Earlier this month, Kennedy warned about the severe consequences of a nuclear war between the U.S. and Russia.
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How to set up a self-custody crypto wallet

❗️Step 1: Know the different types of self-custody wallets

Before you choose a self-custody wallet, you should know the different types. The biggest distinction is software versus hardware wallets.

❗️Step 2: Choose a wallet

There’s no right or wrong choice between a software or hardware wallet - it all depends on your own preference and risk tolerance. Personally, we use SAVL but there are a lot of different trusted wallets, DYOR.

❗️Step 3: Generate a recovery phrase (or import an existing one)

If you’re creating a new wallet, you’ll first create and safely store your “recovery phrase” (or “seed phrase”). This phrase consists of a sequence of words (usually 12 or 24) in a specific order.

❗️Step 4: Create new crypto addresses (or import existing ones)

Crypto addresses (and their private keys) are automatically created when you set up a crypto wallet. You can use your wallet to generate additional crypto addresses, but you can’t generate a crypto address without a wallet.

❗️Step 5: Transfer crypto to your self-custody wallet, or purchase directly

The last step is to add crypto to your wallet, either by transferring crypto from a CEX, or by purchasing crypto directly with fiat currency (if your wallet supports it).
👮‍♂️ Martin Shkreli Details Sam Bankman-Fried’s Life in Prison

⚡️ Martin Shkreli, the former CEO of several hedge funds and pharmaceutical companies, offered updates about the life of Sam Bankman-Fried in prison. Jeremy Lorenzo (aka Flacco Poops), Shkreli’s source on MDC Brooklyn, the center in which Bankman-Fried is being held, stated that he has been facing some troubles due to inmates believing he was a “chomo” (prison slang for child molester) and that he was now moved to another area with Asian inmates.

⚫️ Shkreli, also known for telling former Terra CEO Do Kwon that jail was “not that bad,” hosted an X space with Jeremy Lorenzo (Flacco Poops), his alleged source on MDC, who stated that Sam Bankman-Fried initially faced complications with other inmates.

☠️ Shkreli and Lorenzo said that Sam was set to face even more problems after he got convicted. They analyzed two possible scenarios: the first one being Bankman-Fried being convicted to serve a lengthy sentence in a federal penitentiary. In this case, they believe Bankman-Fried would die in a few days without paid protection.

⚫️ Shkreli pointed out that another problem that aggravated Bankman-Fried’s situation is his Jewish origin, as there is a large amount of antisemitism in federal prisons.
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💸 US Court Orders Collapsed BTC Investment Firm to Pay Over $1.7 Billion in Restitution for Forex Fraud

🌟 A United States Federal Court Judge has ordered the collapsed bitcoin investment platform Mirror Trading International to pay over $1.7 billion in restitution. Commodity Futures Trading Commission director of enforcement Ian McGinley said the CFTC will not hesitate to go after fraudsters who target U.S. citizens. The Commission again warned that court rulings are not a guarantee that victims will recover all their funds.

💲 United States Federal Court Judge David A. Ezra recently ordered the now-defunct South African bitcoin investment platform Mirror Trading International (MTI) to pay over $1.7 billion in restitution. The order, which stems from the Commodity Futures Trading Commission’s (CFTC) June 2022 complaint, was issued after the judge determined that MTI had committed forex fraud.

➡️ According to the Commission’s Sept. 7 press statement, MTI, which is presently in liquidation, was also found liable for “registration violations and failure to comply with CPO [commodity pool operator] regulations.” Meanwhile, the statement further revealed that Judge Ezra’s order had resolved the CFTC’s case against MTI.
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🌟 Decentralized Exchange Sushi Ventures Beyond Ethereum by Expanding to Aptos

⚡️The decentralized crypto exchange Sushi is expanding to the Aptos blockchain. The team noted that the move marks Sushi’s first expansion onto a non-EVM blockchain.

📝 Sushi is a decentralized exchange (dex) and automated market maker (AMM) built on the Ethereum blockchain. It allows users to trade crypto assets and provide liquidity in return for rewards. Launched on August 28, 2020, The dex also has a native governance token called SUSHI.

💬 According to the announcement, “This expansion to Aptos not only unlocks a new level of deep liquidity across major blockchain networks but also significantly elevates the cross-chain trading experience.” Sushi’s team insists the decision will strengthen its leading cross-chain position by spreading to Aptos.

➡️ Sushi was once a top dex but volume has dropped considerably over the past few years. Defillama statistics show that the dex platform has $347.23 million total value locked across various protocols. Sushi’s TVL has also lost a great deal of value since November 2021, after holding more than $8 billion.
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⚡️ Yellow Card’s Partnership With Moonpay Set to Enhance Nigerian Users’ Crypto Trading Experience

🟡 Yellow Card, the Africa-focused crypto exchange, recently said it had joined forces with Moonpay in an arrangement which is expected to help “enhance the crypto purchasing experience for Nigerians by leveraging local bank transfers.” According to Uzoma James, Yellow Card’s West Africa regional manager, the partnership is expected to “make crypto trading easy, intuitive, and available to all.”

➡️ The Africa-focused crypto exchange Yellow Card recently said it had established a working arrangement with Moonpay whose objective is to “streamline and enhance the crypto purchasing experience for Nigerians by leveraging local bank transfers.” Yellow Card and Moonpay believe the partnership will help transform Nigeria’s cryptocurrency accessibility landscape which in turn would make it more user-friendly.

In its Sept. 12 press release, Yellow Card said the arrangement will allow Nigerian users “to engage in peer-to-peer crypto transactions with unprecedented ease.” The exchange added that by leveraging local bank transfers, users are able to overcome obstacles which complicate the purchase of cryptocurrencies via banks.

🟡 For his part, Ivan Soto-Wright, the co-founder and CEO of Moonpay, claimed that by supporting local bank transfers his firm and Yellow would help to unlock “immense opportunities for crypto users.”
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💬 ‘The State Destroys Wealth’ — Javier Milei on Argentina’s Inflation Crisis

🔴 Argentina faces hyperinflation, with the annual inflation rate at its highest since the early ’90s. The country’s general election is set for next month, and economist Javier Milei is projected to win by a wide margin. In a recent interview with Tucker Carlson, Milei attributed Argentina’s hyperinflation to the failures of socialism.

📣 On September 14, 2023, Carlson posted an interview on the social media platform X with Argentine economist, businessman, and politician Javier Milei. The La Libertad Avanza political coalition leader discussed inflation and other topics, including abortion and climate change, with the former Fox News anchor. Milei pointed to socialism and the state for the country’s economic woes.

⚫️ Milei said that while socialism initially seemed appealing in Argentina, it’s a flawed economic system. He described a socialist system as: “If there’s a need, there’s a right.”

The conflict is easy to resolve, through economic freedom and private property. This is a natural mechanism to resolve this tension in society. But socialists don’t much like the invisible hand; they prefer the claws of the state.

Argentina’s general election is set for October 22, 2023, and a major political shift is anticipated.

💬 In his conversation with Carlson, Milei stressed, “The state does not create wealth, the state destroys it.” The politician ardently champions the virtues of free markets, asserting that the non-aggression principle is the optimal path for the well-being of Argentine citizens.
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🔔 ‘Lack of Finality’ — Single Mining Pool Commands 53% of Zcash’s Hashrate

➡️ Recent data shows a single mining pool controls more than 53% of the hashrate for the cryptocurrency network Zcash. On September 19, 2023, the crypto mining pool Viabtc had 4.2 giga solutions per second (GSol/s) of Zcash’s total 7.84 GSol/s hashrate. Electric Coin Co., which oversees the Zcash project’s codebase, acknowledged the issue Tuesday, citing a “lack of finality.”

📝 In the PSA, Coinbase detailed the prevailing issue and mentioned its direct engagement with the Zcash team. To safeguard customer assets from potential issues, Coinbase took measures including shifting its Zcash markets to a “limit-only state.”

💬 Following the release of the blog post, Electric Coin Co. (ECC) took to social platform X to address the PSA. “ECC is aware of this issue, and we’ve had conversations with Coinbase, Viabtc, Zcash’s security lead, and [Zcash Community Grants],” ECC stated. Emphasizing Zcash’s decentralized nature, the team pointed out that, “Zcash is a decentralized, open-source network with no ‘lead developer,’ no ‘issuer,’ and no org that controls it.”

🗣 ECC underscored the crux of the issue: finality. The company explained, “the problem is caused by a lack of finality, which affects all proof-of-work blockchains.” The firm’s proposed solution? “Our Trailing Finality Layer (TFL) proposal is intended to fix that by providing finality for Zcash.” Further, ECC highlighted a shift to proof-of-stake (PoS) as a beneficial move for Zcash, tagging it as one of their “top four priorities.”
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