Shenzhen, China, has officially launched a new cross-border digital Yuan pilot in collaboration with Hong Kong. Recently, Little Red Book also added NFTs on Conflux Network to enable users to showcase their minted NFTs through the platform.

According to China Banking and Insurance News, this is the result of a joint effort between PBoC and the Luohu District local government, as Luohu is close to the New Territories of Hong Kong.

The PBoC and Luohu are promoting the event by giving away tokens. During this time, nearly $1.5 million in tokens will be distributed in Luohu. Transaction sizes are capped at 999 Yuan each.

Token holders shall also reportedly be able to spend their digital Yuan holdings across multiple industries, with various restaurants, hotels, supermarkets, jewelry, and home appliances being reportedly among these.

In the past, the PBoC stated that the digital Yuan is not meant to be used in international trade. However, this narrative appears to have shifted in recent months, with the PBoC promoting the aforementioned cross-border payment capabilities. If the Hong Kong and Macau pilots are successful, the PBoC may look to expand upon the potential use cases.

Elsewhere, the digital Yuan appears to be gaining popularity in Russia as well. Moscow may seek to utilize the token in trade with Beijing, especially if it is able to develop interoperability solutions for its own upcoming digital Ruble.

The Crypto Boom trading bot promises consumers daily earnings of up to 60% from trading cryptocurrencies. You may test the waters using the platforms demo mode and the low commission rate to determine whether its a good match before committing to real money.

Is Crypto Boom a fraud or an actual service? In this Crypto Boom review, well discover!

Explaining The Concept Of The Crypto Boom.

Crypto Boom is a programme that facilitates automated cryptocurrency exchange. An AI-powered system monitors the cryptocurrency market and makes transactions in your stead as needed on the site.

Users, according to Crypto Boom, may make as much as 60% every day in profits. Crypto Boom claims it can enhance your transaction size and fund growth by a factor of up to 5,000:1. If you simply have a few extra bucks to trade with, high leverage might boost your higher earnings. This may raise your profits with certain Bitcoin robots, but it could also boost your losses.

There are zero licence or registration costs associated with using Crypto Boom. A 2% commission of gross sales is all that is required of you. In other words, you dont have to worry about shelling out any cash until you start earning any.

The Crypto Boom: How Does It Operate?

The foundation of the Crypto Boom is an exclusive trading algorithm based on artificial intelligence. Thanks to its extensive training on market data spanning many years, this program can identify price patterns that are highly indicative of a successful transaction.

The algorithm behind Crypto Boom makes orders to purchase and sell cryptocurrencies when it detects a trading signal. When making these kinds of deals, traders often make advantage of the leveraging of up to 5,000:1.

A sell order will be issued by the algorithm when the predetermined price is achieved or when the trades momentum starts to wane. 

To trade successfully with Crypto Boom, traders dont need to keep a close eye on their accounts. It has a claimed 85% victory record in normal market circumstances and can operate around the clock. Crypto Boom claims a high percentage of success, however, we were unable to confirm this. Remember that employing leverage raises the possibility of your trading losses, which is something to keep in mind while engaging in any kind of trading.

Demo trading mode also allows you to test out different settings for the trading algorithm. To fine-tune the algorithm or instruct it to trade more or less aggressively, tinkering with the parameters might be useful.

Distinctive Characteristics of the Crypto Boom

In this section of our evaluation of the Crypto Boom, lets examine the main characteristics of this trading programme in more detail.

Purported Daily ROI of 60%

Crypto Boom boasts a 60 percent daily profit potential, which is one of the most eye-catching aspects of the service. In other words, if you invest $250, you have a chance of ending the first day with $150 more. Earnings would increase to $240 the next day, and another day after that, and so on. The trading algorithm may operate at all hours.

Remember that we couldnt confirm Crypto Booms promised success rate or daily return. The possibility of financial loss is inherent in trading, and this includes trading on Crypto Boom.

Utilise A Leverage Ratio

When trading CFD pairings involving cryptocurrencies, Crypto Boom claims to utilise the leverage of up to 5,000:1. If you simply possess a few extra bucks in your trading account, high leverage may help you make bigger trades.

Keep in mind that if your transaction goes against you, the high leverage will magnify your losses as well.

Buying And Selling In 14 Different Asset Classes

According to our Crypto Boom review, you may use this exchange to buy and sell 14 different digital currencies.

The Bitcoin CFD market also allows for the trading of altcoins. In this way, Crypto Boom provides traders with access to a wide variety of marketplaces.

Practice Market Mode

If youre interested in giving Crypto Boom a try but dont want to commit any real cash, you may use the softwares demo trading mode. This is significant since you can tweak the algorithms parameters in a practice trading environment. Before you start trading for real money, use the Crypto Boom demo mode to fine-tune your settings to the current market.

Commissions on the Crypto Boom

According to our analysis of Crypto Boom, there are no subscription or account fees associated with using this programme. Instead, Crypto Boom charges a 2% fee on all trading gains. Although a two percent fee might add up quickly for large accounts, this model ensures that you only pay for the software if and when it generates a profit for you.

To What Extent Is Crypto Boom Profitable?

Many investors want to know whether they can boost their earnings by using the crypto trading robot. The amount of money you make trading with this robot depends on how hard you work and how thoroughly you study the markets. Although Crypto Boom is programmed to manage your bitcoin holdings, you should still keep a close eye on your transactions.

Keep in mind that even though the Crypto Boom bot boasts a 95% success record, there is still a chance that it may miss out on certain profitable trends. Using Crypto Boom carries no assurance of financial success.

Can You Tell Me How To Close My Account At Crypto Boom?

If you know your way around the trading interface, closing your account on Crypto Boom is a breeze. This takes just a minute or two, but before you do it, you should phone their customer service and let them know what youre up to.

If they no longer want to use Crypto Boom, traders may cancel their accounts by contacting their corresponding broker. If you remove your brokers trading account, you will lose all associated data. If you want to succeed, you need to be prepared for the fallout of your approach, whatever it may be.

The Judgement

Our analysis of Crypto Boom showed that their trading platform allows users to delegate decision-making to an AI system that can trade cryptocurrencies around the clock.

The Crypto Boom website claims a success rate of 85% for the algorithm and claims that traders can expect daily earnings of 60%. Its important to remember that theres always a chance you might lose money if you decide to trade with Crypto Boom. We were unable to confirm Crypto Booms claims of success.

At Crypto Boom, you wont have to worry about paying any fees just to use your account or make a deposit. You may get started with as little as $250, and you only pay to utilise the platform when you generate money.

Some extremely exciting data I came across in the most recent market research report released by crypto .com.

Investors are demonstrating a healthy response in the aftermath of the startling events of the FTX collapse. DEXs eating up spot trading volume may be a sign that the industry is slowly being driven away from centralization towards decentralized alternatives that can provide increased asset security. Which is a positive market response that demonstrates people understanding that FTXs faults are not the faults of the technology. Instead they were a symptom of centralization, mismanagement and excessive risk.

Decentralization will eat the world.

This is and always will be what I stand by. Because decentralization is a vote for equitability and autonomy for investors around the globe.

Excited to see whether this trend continues over the course of 2023 and whether new DeFi primitives emerge to capitalize on the hunger for trustworthy decentralized options.

The United States SEC plans to sue stablecoin issuer Paxos, the institution behind the USDP and BUSD tokens, over the latter stablecoin. According to an SEC spokesperson, the agency can neither confirm nor deny the possibility of an in-depth investigation as of this time.

Nevertheless, the SEC claims that BUSD is an unregistered security. The announcement comes just days after it was reported that Paxos is being investigated by the New York Department of Financial Services, although the scope of the investigation remains unknown for now.

After the announcement by the SEC, Paxos stated that it would suspend the production of new BUSD tokens for the time being. BUSD is a stablecoin completely owned and managed by Paxos, according to a Binance spokesperson.

As a result, the BUSD market cap shall continue to fall over time. Meanwhile, Paxos would keep supporting the product, manage redemptions, and provide additional information as needed. Paxos also assured that the funds are secure and covered by bank reserves.

In other news, the SEC recently settled charges with Kraken, alleging that the staking services provided by the crypto exchange constituted an unregistered securities offering. Under the terms of the settlement, Kraken did not deny nor admit to the charges, however the decision was made to cease operations for all of its US staking programs.
 

As 2023 gets underway and the crypto industry steadily grows in popularity, numerous developers are focusing their efforts on improving user experience, which is a major source of frustration for many. To that end, Artificial Intelligence (AI) has frequently been viewed as a technology that has the potential to improve how people use and regularly interact with various cryptocurrencies and crypto related technology like blockchain, NFTs, and the metaverse.

A new age of digitization?

The popularity of OpenAI and applications like ChatGPT has fueled the narrative that AI really is taking over the world. Unsurprisingly, the trend has also spread to the crypto industry, where tokens associated with AI-related crypto projects such as AGIX have seen a recent price increase.

With that in mind, it is almost certain that AI shall be integrated into crypto applications in a manner which significantly enhances user experience. In fact, many crypto on-chain data platforms will inevitably and regularly utilize AI to help users find information more easily, similar to how Bing integrated ChatGPT not too long ago.

What does this have to do with crypto?

Following the failure of many crypto platforms in 2022 like 3AC, Terra, and FTX, institutions adopted a new standard known as Proof of Reserves to offer more transparency to their end users. However, some have argued that this may be useless because it cannot be relied upon to confirm solvency, as many of the collapses last year could have been avoided if users just had more information on how exchanges and lending platforms were managing deposits via on-chain data. Furthermore, regulation could be more effective if on-chain data was closely monitored as well, according to some online discussions.

In this way, compelling narratives can be viewed as fuel for crypto markets, and AI is simply the latest trend in that regard. AI-based tokens are hence being heralded as the sector which will lead the next bull market cycle by prominent traders on Twitter, Reddit, and other platforms. Thus far, they may be correct, as such tokens have increased by an average of 80% in the last few weeks alone, which include the likes of AGIX, FET, and ALI.

What will the future hold?

According to the 7th e-Trading Edit report by JPMorgan, responses by 835 institutional traders in 60 global markets were gathered and over half of these traders said that AI and machine learning will be the most influential technologies shaping trading methods within the next three years.

Lastly, although blockchain and crypto had been mentioned prominently in previous surveys, AI was mentioned 4 times more than blockchain. This makes sense given the fact that ChatGPT for instance took only 2 months to reach 100 million users, an accomplishment which others like Netflix, Gmail, Twitter, Whatsapp, and Facebook all took years to achieve.

A prominent Brazilian bank has announced a new and convenient way for taxpayers to pay their taxes with crypto. As per a statement released on February 11th by Brazilian bank Banco do Brasil, it is now possible for local taxpayers to pay their tax bill with crypto as part of a collaborative effort with Bitfy, a crypto firm based in Brazil.

As such, the new service is available to Brazilians who have crypto stored with Bitfy, which shall act as a sort of collection partner for Banco do Brasil. In addition to the ease the new serivce provides customers, it also has the potential to expand the use of and subsequent access to the overall digital asset ecosystem with national coverage alongside the dependable security of a bank.

This decision was made following Rio de Janeiro reportedly accepting crypto as tax payments back in October 2022. Brazil passed a regulatory framework in December 2022 which legalizes the usage of crypto as a viable payment method. The new law is expected to go into effect in June 2023. Finally, only investors who trade over 35,000 Brazilian Reals in crypto are required to pay income tax.

The Algorand Foundation has been tasked by the United Nations Development Programme (UNDP) to create an educational curriculum focused on Web3 for its workforce. The announcement, made on November 30th, reveals that the Algorand Blockchain Academy will be accessible to over 22,000 UNDP employees as well as personnel linked to various other United Nations agencies.

A global initiative

The curriculum will reportedly emphasize the practical applications of blockchain technology within the framework of sustainable development. During the first quarter of 2024, a beta version of the course will commence, progressively rolling out across the UNDP global staff throughout the year. Robert Pasicko, a UNDP research and data analyst specializing in alternative finance and low carbon development, announced the initiative at the Algorand Impact Summit in New Delhi.

Pasicko expressed enthusiasm, stating that the Algorand Blockchain Academy will be instrumental in equipping the team with the tools needed to address complex global challenges using blockchain technology. He further mentioned the goal to upskill, empower, and inspire UN practitioners globally.

The initiative will also involve participation by representatives of Algorand ecosystem projects such as HesabPay, Wholechain, Koibanx, and Quantum Temple.

Slow and steady

Doro Unger-Lee, Head of Education and Inclusion at Algorand Foundation, sees this initiative as a crucial step toward identifying and delivering practical use-cases of blockchain to support the Sustainable Development Goals (SDGs) across various areas.

This move aligns with the broader trend of the UN embracing Web3 and distributed ledger technologies. Still, while the UN has shown a progressive stance toward adopting blockchain, a cautionary note was sounded in August 2022 by the UN Conference on Trade and Development, warning about the potential risks of unregulated cryptocurrencies, such as threats to monetary stability and the potential for tax evasion in underdeveloped economies.

The Algorand Foundation has been tasked by the United Nations Development Programme (UNDP) to create an educational curriculum focused on Web3 for its workforce. The announcement, made on November 30th, reveals that the Algorand Blockchain Academy will be accessible to over 22,000 UNDP employees as well as personnel linked to various other United Nations agencies.

A global initiative

The curriculum will reportedly emphasize the practical applications of blockchain technology within the framework of sustainable development. During the first quarter of 2024, a beta version of the course will commence, progressively rolling out across the UNDP global staff throughout the year. Robert Pasicko, a UNDP research and data analyst specializing in alternative finance and low carbon development, announced the initiative at the Algorand Impact Summit in New Delhi.

Pasicko expressed enthusiasm, stating that the Algorand Blockchain Academy will be instrumental in equipping the team with the tools needed to address complex global challenges using blockchain technology. He further mentioned the goal to upskill, empower, and inspire UN practitioners globally.

The initiative will also involve participation by representatives of Algorand ecosystem projects such as HesabPay, Wholechain, Koibanx, and Quantum Temple.

Slow and steady

Doro Unger-Lee, Head of Education and Inclusion at Algorand Foundation, sees this initiative as a crucial step toward identifying and delivering practical use-cases of blockchain to support the Sustainable Development Goals (SDGs) across various areas.

This move aligns with the broader trend of the UN embracing Web3 and distributed ledger technologies. Still, while the UN has shown a progressive stance toward adopting blockchain, a cautionary note was sounded in August 2022 by the UN Conference on Trade and Development, warning about the potential risks of unregulated cryptocurrencies, such as threats to monetary stability and the potential for tax evasion in underdeveloped economies.

The Algorand Foundation has been tasked by the United Nations Development Programme (UNDP) to create an educational curriculum focused on Web3 for its workforce. The announcement, made on November 30th, reveals that the Algorand Blockchain Academy will be accessible to over 22,000 UNDP employees as well as personnel linked to various other United Nations agencies.

A global initiative

The curriculum will reportedly emphasize the practical applications of blockchain technology within the framework of sustainable development. During the first quarter of 2024, a beta version of the course will commence, progressively rolling out across the UNDP global staff throughout the year. Robert Pasicko, a UNDP research and data analyst specializing in alternative finance and low carbon development, announced the initiative at the Algorand Impact Summit in New Delhi.

Pasicko expressed enthusiasm, stating that the Algorand Blockchain Academy will be instrumental in equipping the team with the tools needed to address complex global challenges using blockchain technology. He further mentioned the goal to upskill, empower, and inspire UN practitioners globally.

The initiative will also involve participation by representatives of Algorand ecosystem projects such as HesabPay, Wholechain, Koibanx, and Quantum Temple.

Slow and steady

Doro Unger-Lee, Head of Education and Inclusion at Algorand Foundation, sees this initiative as a crucial step toward identifying and delivering practical use-cases of blockchain to support the Sustainable Development Goals (SDGs) across various areas.

This move aligns with the broader trend of the UN embracing Web3 and distributed ledger technologies. Still, while the UN has shown a progressive stance toward adopting blockchain, a cautionary note was sounded in August 2022 by the UN Conference on Trade and Development, warning about the potential risks of unregulated cryptocurrencies, such as threats to monetary stability and the potential for tax evasion in underdeveloped economies.

The Algorand Foundation has been tasked by the United Nations Development Programme (UNDP) to create an educational curriculum focused on Web3 for its workforce. The announcement, made on November 30th, reveals that the Algorand Blockchain Academy will be accessible to over 22,000 UNDP employees as well as personnel linked to various other United Nations agencies.

A global initiative

The curriculum will reportedly emphasize the practical applications of blockchain technology within the framework of sustainable development. During the first quarter of 2024, a beta version of the course will commence, progressively rolling out across the UNDP global staff throughout the year. Robert Pasicko, a UNDP research and data analyst specializing in alternative finance and low carbon development, announced the initiative at the Algorand Impact Summit in New Delhi.

Pasicko expressed enthusiasm, stating that the Algorand Blockchain Academy will be instrumental in equipping the team with the tools needed to address complex global challenges using blockchain technology. He further mentioned the goal to upskill, empower, and inspire UN practitioners globally.

The initiative will also involve participation by representatives of Algorand ecosystem projects such as HesabPay, Wholechain, Koibanx, and Quantum Temple.

Slow and steady

Doro Unger-Lee, Head of Education and Inclusion at Algorand Foundation, sees this initiative as a crucial step toward identifying and delivering practical use-cases of blockchain to support the Sustainable Development Goals (SDGs) across various areas.

This move aligns with the broader trend of the UN embracing Web3 and distributed ledger technologies. Still, while the UN has shown a progressive stance toward adopting blockchain, a cautionary note was sounded in August 2022 by the UN Conference on Trade and Development, warning about the potential risks of unregulated cryptocurrencies, such as threats to monetary stability and the potential for tax evasion in underdeveloped economies.

An agreement was recently announced between popular crypto exchange Gemini, Genesis Global Capital, LLC (Genesis), and Digital Currency Group (DCG) which brings Gemini Earn users one step closer to reclaiming their funds. Cameron Winklevoss, Co-Founder of Gemini, disclosed the agreement on Twitter.

Genesis halted withdrawals in November 2022 after being embroiled in a public battle over the Earn program, prompting users and Cameron himself to threaten legal action against both the company and DCG founder Barry Silbert. They demanded that Genesis provide a concrete plan for repaying the $900 million loan Gemini made to Genesis Global, which has since gone bankrupt.

As per the agreement, Gemini shall therefore contribute a maximum of $100 million for Earn users, and the terms of the agreement with DCG reportedly also include the sale of Genesis Global Trading.

Additionally, DCG will convert its existing $1 billion note due in 2032 into convertible preferred stock as well as refinance its existing 2023 term loans in two tranches that would be made payable to creditors totaling just about $500 million.

The catastrophic earthquake which struck Turkey and Syria on February 6th left a path of devastation in its wake, affecting countless communities and individuals.

Binance has therefore announced an airdrop of $100 USD worth of BNB tokens to all users residing in the earthquake-affected regions. The process of identifying eligible users shall involve reviewing Proof of Address (POA) submissions made before February 6th in various earthquake-affected cities, namely Adana, Adyaman, Diyarbakr, Gaziantep, Hatay, Kahramanmaraş, Kilis, Malatya, Anlurfa, and Osmaniye.

Much like the situation regarding the Russian invasion of Ukraine, the usage of crypto transfers for delivering financial aid has steadily grown in popularity, as these transfers are quick, unrestricted, transparent, cost-effective, and seamless, making them well-suited for offering aid in emergency situations.

Lastly, while the aforementioned POA process is not perfect, Binance believes it is the best option for locating users affected by the disaster. The total value of the donations is anticipated to be around $5 million. Binance Charity additionally established a public donation address, encouraging people to donate to the Emergency Earthquake Appeal with cryptocurrencies such as BTC, ETH, XRP, BUSD, and BNB.