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Professor Mende - Founder of BONUZ Project - in Dubai UAE
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Happy Bitcoin Pizza Day ๐Ÿ’›๐Ÿ•โœจ Feeling twice honored today as the 1st Pizza got delivered to our Bonuz HQ by Binance CMO @RachelConlan โœจ๐Ÿ’› 2nd Pizza was tailor-made by the Co-founder @heyibinance
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Professor Mende - Founder of BONUZ Project - in Dubai UAE
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๐ŸŒ๐Ÿ’ฑ BREAKING: SAUDI ARABIA ENDS 80-YEAR PETRODOLLAR DEAL WITH U.S.๐ŸŒ ๐Ÿ“ข In Short: - Saudi Arabia ends 80-year petrodollar deal with the US - Deal allowed Saudi oil sales in US dollars only - Saudi can now use other currencies like RMB, Euros, etc ๐Ÿ’ก Saudi Arabia has decided not to renew its 80-year petrodollar deal with the United States, which expired on Sunday, June 9, according to media reports. This historic agreement, initially signed on June 8, 1974, played a crucial role in establishing US global economic dominance. ๐Ÿ” Background: The original deal set up joint commissions for economic cooperation and addressed Saudi Arabia's military needs. American officials hoped it would incentivize Saudi Arabia to increase oil production and strengthen economic ties with Arab countries. ๐Ÿ”„ Shift in Policy: By choosing not to extend this contract, Saudi Arabia is now free to sell oil and other goods using various currencies such as the Chinese RMB, Euros, Yen, and Yuan, instead of only US dollars. There is also speculation about the potential use of digital currencies like Bitcoin for transactions. ๐ŸŒ Broader Implications: This decision signifies a significant departure from the petrodollar system, which was established in 1972 when the US decoupled its currency from gold. ๐Ÿ”— Project mBridge: Saudi Arabia has also joined Project #mBridge , a collaborative initiative exploring a digital currency platform shared among central banks and commercial banks. This project aims to facilitate instant cross-border payments and foreign-exchange transactions using distributed ledger technology. ๐Ÿ’ญ Conclusion: Saudi Arabiaโ€™s decision to end the petrodollar agreement marks the beginning of a significant shift in global economic dynamics. This move could reshape the landscape of global economic influence. ๐Ÿ‘‡ What are your thoughts on Saudi Arabia ditching the Dollar? How awesome would it be if Saudi would accept #bitcoin ? Your, @Professor Mende - Founder of BONUZ Project - in Dubai UAE #SaudiArabia #Petrodollar #usdollar $ETH $SOL
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๐Ÿšจ๐Ÿ’ธ $630Million OUTLFLOW: OKX LOSING TO ๐Ÿ’ŽBINANCE & ๐Ÿ’ŽGATE.IO ๐Ÿ’ธ๐Ÿšจ On June 11, OKX, one of the largest cryptocurrency exchanges, experienced an outflow of $2.4 million within 24 hours amidst rumors of security issues. ๐Ÿ” Whatโ€™s Going on With OKX? On June 9, OKX suffered a significant security breach that allowed attackers to create new API keys for unauthorized withdrawals. This incident has heightened concerns about the platformโ€™s security measures. ๐Ÿ“‰ Recent Outflows: 24 Hours: $2.4 million Past 7 Days: $630 million Past Month: $355.96 million This data indicates a substantial withdrawal of digital assets from OKX, reflecting a decline in user trust and a possible shift of investors to other platforms. ๐Ÿ“Š Comparative Performance: According to DefiLlama, other exchanges like Binance and Gate.io are outperforming OKX: Binance: 7 Days: $11.36 billion inflow 1 Month: $407.57 million inflow Gate.io: 7 Days: $50.83 million inflow 1 Month: $68.87 million inflow ๐Ÿ” Key Shortcomings in Security System: The outflows from OKX are primarily due to serious security flaws, including vulnerabilities in their SMS notification system. Hackers exploited this to create new API keys, bypassing Google Authenticator Verification, leading to significant thefts. ๐Ÿšจ Impact: Two OKX account holders were affected, neither of whom had activated Google Authenticator. OKX is investigating the breach and ensuring victims receive immediate issue resolution. The exchange advises all users to enable two-factor authentication (2FA) and stay vigilant. Amazing news for Binance users as this situation strengthens Binance's position as the leading cryptocurrency exchange! Stay updated with @Professor Mende - Founder of BONUZ Project - in Dubai UAE #okx #Gateio #binance #risk #safu $BNB $BTC $ETH
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โ›”โ›” STOP LOSING MONEY BY UNDERSTANDING MARKET CYCLES โ›”โ›” Financial markets, like natural phenomena, move in predictable cycles. These cycles often trap retail traders, much like how games lure players in with the promise of small wins just to claim larger losses. The example of BTC in 2017: Bitcoinโ€™s price skyrocketed from around $1K in January to nearly $2K in December. However, by early 2018, Bitcoinโ€™s price dropped to around $3K by December 2018. Many investors faced big losses. 4 of Market Cycles & Common Mistakes: Accumulation: This phase follows a significant market decline. Prices are low, and investors are pessimistic. Example: After Bitcoinโ€™s 2013 crash from $1K to below $200, the accumulation phase saw cautious buying by those who believed in its long-term potential. Common Mistakes: During this phase, many investors are too fearful to buy. Uptrend: Characteristics: The market begins to recover. Example: Throughout 2017, Bitcoinโ€™s price steadily climbed & media coverage fueled investor confidence. Common Mistakes: As prices rise, many investors jump in late, buy at higher prices & increase their risk of losses. Distribution: Characteristics: The market reaches new highs. Example: In late 2017, Bitcoinโ€™s price surged towards $20K, driven by extreme optimism. Common Mistakes: During this phase, investors often buy at the peak of the market, driven by overconfidence. Decline: Characteristics: The market begins to fall from its peak. Example: By early 2018, Bitcoinโ€™s price began to fall sharply, leading to panic selling and significant losses for late investors. Common Mistakes: Investors often hold on to their investments too long. As prices continue to fall, fear sets in, leading to panic selling. The Cycle Repeats These phases repeat over time, and understanding them can help you become a more consistent and successful trader. Like, share & follow @Professor Mende - Founder of BONUZ Project - in Dubai UAE l for more! #bitcoin #memecoins #markettrends $BTC $ETH $SOL
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๐Ÿšจ AI-ENABLED CRYPTO CRIME REMAINS IN EARLY STAGES ๐Ÿค–๐Ÿšจ A recent study by Elliptic reveals that crimes enabled by artificial intelligence (AI) within the cryptocurrency ecosystem are still in their early stages. The Elliptic study outlines five typologies of AI-enabled crime that must be addressed to prevent escalation. Early intervention is key to mitigating these threats before they become prevalent. 1. ๐Ÿ’ก AI-Generated Deepfakes: Recent incidents involving AI-generated deepfakes of notable figures, such as Elon Musk and former Singapore Prime Minister Lee Hsien Loong, underscore the enhanced capabilities of malicious actors. Deepfakes mimicking former Taiwanese Presidents Tsai Ing-wen and Lai Ching-te have also been used in scams, demonstrating the need for vigilance. 2. ๐Ÿ“ˆ Surge in AI-Related Tokens: Data from the study indicates a surge in tokens featuring AI-related keywords such as GPT, OpenAI, and Bard. Approximately 4,500 of these tokens are present on the BNB Smart Chain, with most using the term GPT more frequently than OpenAI or Bard. 3. ๐Ÿ” State-Sponsored Hackers: The report highlights the exploitation of AI by state-sponsored hackers, particularly those backed by North Korea. These hostile actors are using AI models to detect vulnerabilities in smart contracts and conduct large-scale cryptocurrency heists. The United Nations attributes over 60 cryptocurrency heists, totaling more than $3 billion in stolen assets, to North Korean hackers between 2017 and 2023. 4. ๐Ÿ“ข Importance of Collaboration: The success of containing AI-enabled crypto crimes depends on collaboration among various stakeholders, including law enforcement investigators, crypto compliance professionals, AI and crypto users, technology developers, policymakers, and regulators. The report recommends a prevention strategy known as DECODE, which stands for Detect, Educate, Cooperate, Defend, and Enforce. Stay safe with @Professor Mende - Founder of BONUZ Project - in Dubai UAE ! #AI #Cryptocurrency #Blockchain #scam #scamalert $SHIB $PEPE $FLOKI
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๐Ÿ’Ž WORLD'S LARGEST BANK LOVES BITCOIN AND ETHEREUM๐Ÿ’Ž The Industrial and Commercial Bank of China (ICBC), the worldโ€™s largest bank by total assets, recently published a report comparing Bitcoin to digital gold and Ethereum to digital oil. ICBC, which holds $6.6 trillion in total assets as of March, released an equity research report on June 6, providing a macroeconomic analysis of the digital asset ecosystem. The bankโ€™s analysts highlighted Bitcoin's and Ethereum's unique roles: Bitcoin as Digital Gold: Bitcoin is likened to gold due to its scarcity and consensus-driven value. The analysts noted: Scarcity and Value: Bitcoin retains gold-like scarcity through mathematical consensus. Advantages: Unlike gold, Bitcoin is easily divisible, verifiable, and portable. Evolving Attributes: While Bitcoin's monetary attributes may be weakening, its asset attributes are strengthening, making it a robust digital asset. Ethereum as Digital Oil: Ethereum is described as "digital oil" due to its foundational role in the digital economy. The analysts emphasized: Technological Upgrades: Ethereum continuously improves its security, scalability, and sustainability, powering the digital future. Smart Contracts and DeFi: Ethereum's programming language (Solidity) and virtual machine (EVM) enable complex smart contracts and decentralized applications, crucial for decentralized finance (DeFi) and non-fungible tokens (NFTs). ๐Ÿ‘‡ What are your thoughts on ICBCโ€™s view of Bitcoin and Ethereum? Like, share, comment, and follow for more insights! #Bitcoin #ethereum #china $BNB $BTC $ETH
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