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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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22.1K views16:42

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).

22.3K viewsedited 12:00

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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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21.7K views14:20

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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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20.3K views14:54

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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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20.7K views16:35

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22K views16:30

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21.3K views13:03

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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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23K views17:34

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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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20.8K views17:35

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20.3K views09:00

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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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21.2K views16:24

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Coin shares Unveils New Crypto Hedge Fund Division, Widens Institutional Services to US

➡️ Coin shares, a European digital asset manager, is moving into the U.S. with a new hedge fund division aimed at institutional investors. The firm, based in Saint Helier, Jersey, intends to offer comprehensive services for institutions exploring crypto assets.

⚫️ The company revealed its new branch, Coin shares Hedge Fund Solutions, signifying its foundational emphasis as a crypto-centric hedge fund manager. Lewis Fellas, an asset manager with more than two decades of experience, including seven years in the digital assets sector, will lead this division.

⚫️ The press release highlights the merger of Coinshares‘ ten years in crypto with the expertise the team has developed from proprietary trading since 2016. The firm holds that this experience equips it to produce competitive products comparable to those of mainstream financial entities.

⚫️ Registered as a broker-dealer with FINRA, Coinshares will introduce the hedge fund offerings to eligible U.S. investors. The company noted in its release, “The long-awaited return of interest rate-driven volatility is a great opportunity that we plan to capture with our novel fund products.”

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19.3K views15:35

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Marathon CEO Fred Thiel Warns About Fed Losing Its Weapons to Fight Inflation During Upcoming Period of Fiscal Dominance

❕ Fred Thiel, CEO of Marathon Digital Holdings, a Nasdaq-listed Bitcoin mining company, has warned about the future of the U.S. economy and the consequences of the Federal Reserve’s current monetary policy. Thiel noted the possibility of an upcoming period of fiscal dominance, in which the Federal Reserve would have fewer weapons to fight inflation.

➡️ Fred Thiel, CEO of Marathon Digital Holdings, a publicly listed Bitcoin mining company, discussed challenges the Federal Reserve might face in its battle to tame inflation. Thiel stated that the U.S. economy might be close to entering a period of fiscal dominance, which would affect the efficiency of the methods that the Fed has to battle inflation and take it to a self-imposed goal of 2% yearly.

⚠️ According to Thiel, this fiscal dominance period, which occurs when the increasing debt and deficit levels become sufficiently high that monetary policy ceases to be an effective tool for controlling inflation, would result in the Fed having “few tools” to battle this phenomenon that still has not been contained.

⚫️ Thiel bases his remarks on the levels of interest payments as part of government revenues and the levels of outstanding Treasuries by maturity dates, which “need to be refinanced in addition to issuance of additional debt to cover interest payments and deficit spending.”

💲 Thiel is not the only one who has recently alerted about the possible effects of the high spending and rampant money printing in the U.S. economy, that might lead to a difficult fiscal situation in the upcoming years.

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21.9K views17:54

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US Spy Agency Plans to Launch Generative AI Tool to Amplify Intelligence Gathering

🪖 Reports indicate that the U.S. Central Intelligence Agency is poised to unveil a generative artificial intelligence (AI) tool, akin to Openai’s Chatgpt, to significantly enhance investigative efforts. Randy Nixon, the head of the CIA’s Open-Source Enterprise division, explained that this innovation will empower users to effortlessly trace back to the original sources of the information they are amassing.

⚫️ This tool, will remain off-limits to U.S. bureaucrats and the general populace, with Nixon emphasizing its stringent adherence to privacy laws.

🔊 “We’ve gone from newspapers and radio, to newspapers and television, to newspapers and cable television, to basic internet, to big data, and it just keeps going,” Nixon told Bloomberg on Thursday. “We have to find the needles in the needle field.”

Nixon added:

🔊 The scale of how much we collect and what we collect on has grown astronomically over the last 80-plus years, so much so that this could be daunting and at times unusable for our consumers.

⚫️ In the span of the past eight months, generative AI has soared to prominence, with dominant players raising billions of dollars to propel this technology forward. It has seamlessly integrated into various sectors of society, including the realms of finance and the burgeoning cryptocurrency ecosystem. Yet, the ascent of this technology has bureaucrats and regulators on edge, prompting plans to institute regulations.

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22.1K views17:50

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Vaneck Pledges 10% of Ethereum ETF Profits to Fuel ETH Core Development

🌟 On September 29, 2023, the asset management firm Vaneck unveiled an initiative to earmark 10% of its profits from its ethereum (ETH) exchange-traded fund (ETF) towards protocol development for at least ten years. This financial infusion will be given to the Protocol Guild, a consortium of over 150 core Ethereum developers, fueling their quest to further refine and grow the Ethereum protocol.

💻 The Protocol Guild encompasses over 150 Ethereum core developers, with an onchain registry bearing testimony to its membership. This guild is steered by the vision to “boost the incentives around stewarding the core protocol.” Vaneck accentuates that core developers have played pivotal roles in propelling crucial updates such as The Merge and Shanghai.

💸 The firm underscored that should traditional finance (tradfi) reap benefits from the endeavors of Ethereum development, it’s only fitting that Tradefi reciprocates by giving back.

➡️ Vaneck’s Ethereum-centric ETF, brandishing the ticker “EFUT,” operates as a cash-settled futures fund, capitalizing on futures traded over the Chicago Mercantile Exchange (CME). Yet, it has lodged a filing for a physically-settled ether ETF, in tandem with its spot bitcoin ETF submission. Not to be outdone, Ark Invest and 21shares have also cast their bid into the ring, aiming to launch a physically settled ETH exchange-traded fund with regulatory approval.

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22.4K views17:14

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Crypto Tycoon SBF in the Dock: Jury Selection Extended; Hearing Reveals Financial Carnage

➡️ A day earlier, on Tuesday, Sam Bankman-Fried (SBF) appeared in the courtroom sporting a considerably shorter haircut and accompanied by his legal counsel. Various media outlets reported on the jury selection and voir dire, including an extensive X thread from Matthew Russell Lee’s Inner City Press publication. Judge Kaplan and the court aim to select a total of 12 jurors and approximately six alternates, hoping to complete the process on Wednesday.

💸 Lee’s coverage of Tuesday’s hearing revealed that several prospective jurors mentioned losing money in cryptocurrencies. One potential juror claimed their company invested in FTX and Alameda Research, experiencing financial losses. Another person stated their fiancé lost money investing in crypto assets, while a third individual worked for Signature Bank, which financed FTX transactions, according to Inner City Press.

❌ One possible juror expressed concern that the case involved the death penalty and stated they could not participate if the punishment was so severe. Judge Kaplan reassured the juror that the death penalty would not be applicable in this legal matter. Over 70 prospective jurors were questioned by the judge and attorneys, leaving an estimated 50 candidates remaining to finalize the selection of 12 jurors and six alternates.

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23.5K views16:43

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Tesla CEO Elon Musk Predicts ‘Comprehensive Overhaul’ of SEC With 100% Probability

➡️ Tesla and Spacex CEO Elon Musk has called for a thorough overhaul of regulatory bodies, including the U.S. Securities and Exchange Commission (SEC).

⚫️In response to X user Mario Nawfal, who shared the news of Musk being sued by the SEC, the Tesla CEO wrote:

❕ A comprehensive overhaul of these agencies is sorely needed, along with a commission to take punitive action against those individuals who have abused their regulatory power for personal and political gain. Can’t wait for this to happen.

❗️ Moreover, another X user asked Musk: “Will it ever happen?” The billionaire replied: “I estimate the probability at 100%”

➡️ On Thursday, the SEC announced that it had filed a subpoena enforcement action against Musk. The regulator is seeking a court order to compel the Tesla boss to attend an investigative testimony concerning his purchase of Twitter.

❕ Musk has frequently voiced his disapproval of the SEC. During a December 2013 interview with “60 Minutes,” he clarified that he adhered to the settlement agreement with the SEC out of respect for the justice system. He stressed at the time: “I do not respect the SEC. I do not respect them.”

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20.4K views17:18

🪙

Binance CEO Changpeng Zhao Shares Thoughts on Bitcoin Halving

➡️ Changpeng Zhao, founder and CEO of Binance, one of the largest cryptocurrency exchanges, has recently shared his thoughts about the events leading to the Bitcoin halving, when the reward given to Bitcoin miners for mining new blocks gets cut in half.

❕ CZ details that one year after the halving, bitcoin prices will reach new all-time highs (ATH), and people will still look for a reason for this development.

🖥 For Zhao, the halving is a significant event for the cryptocurrency market. Zhao reported that he already added a Bitcoin halving countdown to Binance’s homepage.

👍 Zhao is not the only one who believes that the halving will spur an increase in bitcoin prices due to the reduction of the bitcoin available on the market and other factors.

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22.4K views16:52

🆕

New Documentary Exposes the Turbulent Downfall of FTX and Sam Bankman-Fried

➡️ Bloomberg is gearing up to unveil one of the first documentaries delving into Sam Bankman-Fried (SBF) and FTX’s saga. This Bloomberg Originals production casts a spotlight on the “dramatic downfall of his cryptocurrency enterprise.”

🟡A trailer, just over two minutes, has also made its debut on October 13. This unveiling coincides with SBF navigating the treacherous waters of his New York trial, where he confronts testimonies from former allies like Caroline Ellison and Gary Wang.

📝 These former associates have painted a damning picture, alleging SBF directed them into fraudulent activities and greenlit Alameda’s mingling with FTX’s client funds. Amidst this media frenzy, acclaimed “Big Short” author Michael Lewis is on a promotional spree for his latest offering, “Going Infinite: The Rise and Fall of a New Tycoon.”

🟡Lewis’s tome, despite its completion, hasn’t been spared from criticism. Especially contentious was his claim on “60 Minutes” that FTX “actually had a great real business.”

🟡Such assertions starkly clash with the recent testimonies of Ellison and Wang. Nonetheless, with all these biopics coming, audiences are in for a whirlwind tale encompassing vast fortunes, hedonistic indulgences, polyamorous relationships, and layers of deceit.

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21.5K views16:36

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21.2K views13:00

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20.7K viewsedited 18:00