Hey crypto degens, with all the recent news about SVB, USDC and the general negative attitude of the SEC / US govt on crypto its really is tough out there.

That's why it's so important to diversify your portfolio to reduce your risk profile as much as possible in times like this.

Here's how I'm managing my portfolio this year and its really helped with my mental health.

13% - FTX (FTT)

13% - Anchor protocol

13% - Celsius (CEL)

13% - BlockFi

13% - equity stake in The Block

13% - Greyscale's BTC

10% - In a stablecoin like TUSD

13% - in Silicon Valley Bank.

Using this strategy has really helped my mental health, as I no longer have any crypto. The only bag I'm holding now is Dee's nuts.

Stay safe out there crypto degens. Not your keys, not your crypto.

NOTE: it's a sarcastic post :D happy weekend

#buildtogether #bicasso #crypto101 #antiscam #Bullish

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BTG Pactual, one of Latin America's largest investment banks, has introduced a dollar-backed stablecoin through its crypto platform Mynt.

The stablecoin, BTG Dol, is the world's first dollar-backed stablecoin issued by a bank, BTG Pactual said in an announcement on Tuesday.

The São Paulo, Brazil-based bank said it is enabling clients to "dollarize part of their equity in a simple, efficient and secure manner."

BTG Dol is available for purchase starting from 100 real ($20) in the bank's crypto app Mynt, which it rolled out in 2021 and which now supports 22 cryptocurrencies.

Unlike cryptocurrencies like bitcoin and ether, stablecoins are pegged to traditional financial assets like fiat currencies - usually the U.S. dollar. They allow investors and traders to keep their money in the digital asset ecosystem without being completely exposed to the volatility that are habitual with most cryptocurrencies.

The market capitalization of stablecoins sits at around $133 billion with a 24-hour trading volume of nearly $39 billion, according to data by CoinMarketCap.

The largest stablecoins such as USDT and USDC are issued by private companies and as such have been subjected to increasing regulatory scrutiny, particularly since the collapse of algorithmic stablecoin UST last year.

Read more: Can Banks Issue Stablecoins?

Edited by Oliver Knight.

#antiscam #dyor #Binance

Longtime crypto markets executive Michael Moro joined an upstart derivatives exchange as chief executive more than eight months after stepping down from his post at beleaguered lending and trading firm Genesis Global Capital.

Moro—who joined Genesis in 2015 following a career on Wall Street that included SecondMarket and Citigroup—will begin building out a team for the new firm, called Ankex.

Billed as a so-called hybrid crypto exchange, the platform will offer the trappings of both a centralized derivatives exchange as well as that of a decentralized exchange. It was incubated by crypto trading infrastructure company Qredo.

The non-custodial exchange will allow users to self-custody their funds while supporting the same level of low latency, deep liquidity trading, Qredo's Josh Goodbody said in a statement.

"Having come from Genesis and seen the events of 2022 unfold, I’m acutely aware of the importance of empowering traders to operate on trustless platforms while retaining full control of their assets at all times," Moro said in a press release. Moro stepped down from his role as CEO of Genesis in August.

Genesis Global Capital filed for bankruptcy in January after the firm failed in a bid to raise cash for its troubled lending unit.

"By leveraging our combined strengths and driving a culture of excellence, we can ensure that traders are able to operate without the risk of losing access to their assets to circumstances beyond their control," Moro said.

The crypto derivatives market is shaping up to become more competitive in the wake of FTX's meltdown, with Coinbase and Gemini both eyeing their own offshore options. Elsewhere, former hedge fund duo (and former Genesis counter-party) Kyle Davies and Su Zhu have teamed up with former CoinFlex founder Mark Lamb to launch a venue that supports trading in bankruptcy claims of defunct crypto firms.

Since the start of the year, crypto derivatives markets have seen a surge in activity with bitcoin futures volumes topping $1.3 trillion last month. Binance commands the majority of those volumes, as per The Block's data dashboard.

In an interview with The Block, Moro said that the company would soon seek funding via a seed raise as it expands out its team.

© 2023 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

#crypto2023 #antiscam #crypto2023

Bitfinex and Binance are walking back technical support for Stargate Finance’s plans to reissue its stargate (STG) tokens, according to several announcements that came out this week. They will now promote the use of the protocol’s original STG tokens.

The crypto exchanges’ decision to eliminate support for the new STG tokens follows Stargate decentralized autonomous organization’s (DAO) decision on Tuesday to pump the brakes on its plan to mint new tokens, according to a recent community proposal. At the time of that decision, Stargate Finance had already begun disseminating the new STG tokens, according to data from Etherscan - a problem with which exchanges must now contend to eliminate security risks to STG token holders.

StargateDAO initially voted in favor of reissuing all STG tokens by March 15 after it uncovered security risks posed by “illegitimate STG transfers from compromised Alameda wallets,” where roughly 10% of STG tokens are held. However, the DAO abandoned those plans when liquidators of FTX, Alameda’s sister company, rebuked the plan, arguing it violated an automatic stay issued in the FTX bankruptcy case.

"[The reissuance] was to try to help the safety of the tokens in question. This is now being challenged with the liquidators clearly not wanting them moved," StargateDAO’s latest proposal to unwind the token’s reissuance reads.

As a result, Bitfinex and Binance are now revoking scheduled STG contract swaps on various blockchains. They have also taken steps to ascertain whether their users who have STG holdings are, in fact, holding original STG tokens and not reissued tokens.

Bitfinex provided its users with a contract address on the Ethereum network against which they could check the validity of their STG tokens.

"We would like to remind our customers that there are STG tokens with different contract addresses in circulation; therefore, please don't send any STG tokens to our platform other than the one with the above contract address to avoid losing funds," Bitfinex said in its post about the canceled reissuance.

Meanwhile, Binance pledged to "swap [users’] new STG tokens back to old STG tokens" to mitigate security risks associated with the use of the new STG tokens.

Read More: Stargate Finance Token Down 8% on Coinbase Delisting

#dyor #Binance #antiscam

A reward worth almost $2 million in bitcoin may be up for grabs by the end of this year.

All treasure hunters need to do is find a way to travel more than 200,000 miles through space and then land on the moon’s surface. That’s because later this year a SpaceX rocket will carry a small lunar rover about the size of a microwave oven to the moon. Carefully attached to the rover: A coded key capable of unlocking a small fortune, 62 bitcoin.

Right now, 62 bitcoin equals almost $1.8 million. But by the time someone manages to pull off copying down the key from the rover, the digital treasure could be worth much more, argues one of the project’s leaders.

“My God, who knows the price of bitcoin in 40 years,” said Joe Vezzani, CEO of LunarCrush, the driving force behind the “first interplanetary treasure hunt” in history, a project christened Nakamoto_1, after Bitcoin’s pseudonymous creator Satoshi Nakamoto.

Vezzani runs LunarCrush, a firm that aggregates social media communication in order to analyze investment trends across cryptocurrencies and NFTs. And while the chief executive is no expert in space exploration, he admits the arduous — if not completely bonkers — challenge could take even highly motivated explorers several years to overcome.

Screenshot of Golden Wolf NFT art being issued to fund the bitcoin treasure.

But he and his team are optimistic it won’t take four decades. “People have done crazier things,” he said, pointing to all the future lunar projects coming down the pike. “They’re building bases [on the moon], so at some point there will be people cruising around up there.”

The U.S. Russia, India, China, the EU and Elon Musk’s SpaceX have all discussed or have planned trips to the moon. Expanded exploration of the lunar surface and the future potential for space stations located there also all appear to be gaining momentum.

With Nakamoto_1, the rover will first fulfill its duty of testing wireless data transmission along the moon’s South Pole, according to the project’s organizers. “[It] will operate continuously until the end of the lunar day, which lasts 14 Earth Days. Once the sun sets and the communication link to the lander ceases, the rover will remain dormant until it is discovered," said Forrest Meyen, co-founder of Lunar Outpost, the company building and outfitting the small rover before it hitches a ride to the moon.

NFT drop

Funding the 62-bitcoin fortune begins with the issuing of a 24,000-piece collection of NFTs scheduled to drop later this month. At $250 per NFT, LunarCrush hopes to raise as much as $6 million. The company has earmarked about 25% to pay for the treasure. An additional 25% is also set to be donated to bitcoin-related developmental and educational causes.

To create the collection art the project enlisted the talents of Emmy-nominated animation studio Golden Wolf, which was recently acquired by the top-tier NFT brand Doodles. Golden Wolf is tasked with helping Doodles expand its franchise and content offerings.

The entire team, which also includes a Bitcoin development firm known as Hiro, comes across as earnest about promoting space travel and spurring ingenuity among wannabe space explorers. But the core mission appears firmly rooted in creating community around the project while generating positive buzz both for LunarCrush and the crypto industry amid a prolonged bear market mired in scandal.

The bounty

“We’ve been in the space awhile and we could have built an NFT project before this,” Vezzani said, adding, “over time you’re going to see the project get more interwoven into LunarCrush,” including special benefits to some Nakamoto_1 token holders.

Vezzani understands that the project’s success initially hinges on selling enough NFTs to fill a digital wallet full of an amount of bitcoin that will generate interest in the lunar treasure hunt.

“That’s the stuff that keeps you up at night,” he said, adding that he believes that it will likely be years before anyone claims the treasure, but that buys his team time to eventually add more bitcoin, or even valuable NFTs, to the digital treasure chest. “People can send stuff to that public key forever.”

“This is the part of free markets that work really well,” countered Hiro CEO Alex Miller when asked if the whole endeavor is nothing more than a spectacular publicity stunt. “You put a bounty out there and you let people figure out the best way to go get it.”

© 2023 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.

#Binance #antiscam