Here is a detailed bullet-point post about what Imran Khan did for cryptocurrency users in Pakistan:

- **Formation of Taskforce on Cryptocurrency (2018)**:
- Imran Khan's government established a taskforce to study and propose regulations for cryptocurrency in Pakistan.
- This taskforce aimed to understand the potential benefits and risks associated with digital currencies.

- **Recommendations for Legalization (2020)**:
- The taskforce recommended the legalization of cryptocurrency in Pakistan.
- Following this recommendation, the government began working on a framework to regulate digital currencies, ensuring a legal and secure environment for crypto transactions.

- **State Bank of Pakistan (SBP) Guidelines for Electronic Money Institutions (2021)**:
- The SBP issued comprehensive guidelines for Electronic Money Institutions (EMIs).
- These guidelines provided a regulatory framework for cryptocurrency exchanges to operate within Pakistan.
- The aim was to ensure secure and transparent operations of digital currency platforms.

- **Pakistan Telecommunication Authority (PTA) Actions and Subsequent Developments (2021)**:
- In 2021, the PTA blocked websites of cryptocurrency exchanges, causing concern among crypto users.
- However, after the SBP issued its guidelines, the PTA lifted the ban, allowing cryptocurrency exchanges to resume operations.
- This move reassured crypto investors and users about the government's support for the digital currency ecosystem.

- **Introduction of Cryptocurrency Bill (2022)**:
- Imran Khan's government introduced a cryptocurrency bill in the National Assembly.
- The bill aimed to regulate and legalize cryptocurrency in Pakistan, providing a clear legal framework for its use and trading.
- This legislative effort marked a significant step towards mainstreaming cryptocurrency in the country.

These actions collectively represented a progressive approach towards integrating cryptocurrency into Pakistan's financial system, aimed at providing a regulated and secure environment for digital currency users.#imrankhan #ETH_ETFs_Trading_Today

**Background of Terra Network:**

- **Founders:** Do Kwon and Daniel Shin
- **Purpose:** Create a new way to make payments using blockchain and stablecoins
- **Tokens:** LUNA and UST

**Rise to Fame:**

- By 2022, Terra's LUNA and UST tokens gained significant popularity.
- **UST (TerraUSD):** Designed to always be worth $1, backed by LUNA tokens.

**How UST Worked:**

- **Algorithmic Stablecoin:** Used computer algorithms instead of physical assets to maintain value.
- **Anchor Protocol:** Offered up to 20% yearly interest on UST deposits, attracting many users but raising sustainability concerns.

**The Collapse:**

- **Early May 2022:**
- Over $2 billion worth of UST was withdrawn and sold.
- UST lost its $1 value, dropping to $0.91, causing panic and more selling.
- **Impact on LUNA:**
- People exchanged UST for LUNA, increasing LUNA's supply and crashing its price.
- **Market Reaction:**
- Major exchanges stopped trading LUNA and UST.
- Terra blockchain was paused.
- Collapse erased about $60 billion from the crypto market.

**Detailed Consequences:**

- **Impact on Firms:**
- Companies like Voyager, Celsius, and Three Arrows Capital faced bankruptcy or severe financial problems.
- **Voyager Digital:** Filed for bankruptcy protection after significant losses.
- **Celsius Network:** Faced financial instability, froze withdrawals, and filed for bankruptcy.
- **Luna Foundation Guard:**
- Attempted to stabilize UST with Bitcoin reserves, but failed.
- **Do Kwon's Plans:**
- Launched Terra 2.0, but failed to regain trust.

**Legal Issues:**

- **Do Kwon's Missteps:**
- Gave false assurances about token stability.
- Took a $1 million bet that LUNA wouldn't crash and UST would remain pegged to the dollar.
- **Legal Trouble:**
- **September 15, 2022:** South Korea issued an arrest warrant for Do Kwon for fraud.
- Allegations of moving 40,000 BTC to secret wallets.
- **March 2023:** Do Kwon arrested in Montenegro with fake documents, facing extradition to South Korea and the U.S.

**Broader Market Impact:**

- **Industry-Wide Repercussions:**
- Significant loss of confidence in algorithmic stablecoins.
- Increased scrutiny and pressure on other stablecoins to prove stability and backing.
- **Regulatory Responses:**
- Governments and regulators began discussions on tighter cryptocurrency and stablecoin regulations.
- Potential requirements for transparency in reserve holdings and stricter risk management protocols.

**Lessons Learned:**

- **Risks of Algorithmic Stablecoins:** Can fail dramatically without tangible backing.
- **Importance of Transparency:** Honest communication is crucial to avoid significant investor losses and legal consequences.
- **Need for Regulation:** Proper rules can protect investors and ensure better risk management and transparency in the crypto industry.

**Moving Forward:**

- **Investor Caution:** Increased wariness of high-yield promises and algorithmic stablecoin stability.
- **Increased Scrutiny:** More scrutiny on stablecoin mechanisms and backing, leading to calls for robust regulatory frameworks.

The LUNA-UST crash underscores the need for clear rules, honesty, and good risk management, highlighting the importance of balancing innovation and regulation in the cryptocurrency market. Lessons from this incident will hopefully lead to a more stable and secure financial ecosystem.#Bitcoin_Coneference_2024 $BTC #BinanceTurns7

# Altcoins to Avoid: Key Characteristics and Examples

## Three Main Types of Altcoins to Avoid:

### 1. Old and Overvalued Projects
- **Characteristics:**
- No technological innovation or upside potential.
- Likely to decline in value compared to $ETH over time.
- **Example:**
- **Ripple (XRP)**
- Designed for fast, cheap international money transfers.
- An unnecessary fork of $BTC with an overly inflated valuation.
- $ETH or $BTC are better alternatives.

### 2. Artificial Tokens
- **Characteristics:**
- Supply is entirely controlled by the team or venture capitalists (VCs).
- Market value is manipulated.
- **Risks:**
- The price does not reflect the true market value.
- High risk of a significant price dump (-99%) at any moment.
- **Example:**
- **Worldcoin (WLD)**
- An artificial coin with a completely controlled supply.
- Highly manipulable value, likely to be dumped eventually.

### 3. Projects from Past Trends or with High FDV and Low MC
- **Characteristics:**
- Originated from outdated trends (e.g., dead P2E games).
- High Fully Diluted Valuation (FDV) and low Market Cap (MC).
- Subject to constant sell pressure.
- **Risks:**
- Likely to experience a slow decline.
- Investing in these tokens often means becoming exit liquidity for VCs.
- **Examples:**
- **Worldcoin (WLD)**
- Completely controlled supply, likely to be dumped.
- **Ripple (XRP)**
- An unnecessary fork of $BTC with an overly inflated valuation.
- **Ethereum Classic (ETC)**
- A split from $ETH in 2016.
- Largely ignored by developers, with minimal prospects.

## Recognizing Doomed Projects
- Learn to distinguish between junk and valuable projects to make informed investment decisions.

---

**Disclaimer:** Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.#ETH_ETFs_Trading_Today #SOFR_Spike

🚨Alert Alert Alert Alert🚨 ⚠️Binance (P2P)⚠️ Scam In Pakistan⚠️

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Binance P2P disputes are on the rise in Pakistan, with three recent cases involving blocked accounts due to fraudulent activities. The common issue in these disputes was transactions occurring outside of Binance, resulting in fraud complaints and account blocks. To avoid similar complications, it's crucial to understand the root cause and take necessary precautions.

The Common Issue: Transactions Outside of Binance
In all three disputes, buyers engaged in transactions outside of Binance, received payments from other sources, and then bought USDT from the seller. They sold the USDT at a higher rate elsewhere, without verifying the source of funds or securing proof. This led to fraud complaints from the original fund senders, resulting in account blocks for both the buyers and the seller.

The Consequences: Account Blocks and Reversed Payments
In one case, the issue was resolved after an investigation, and the payment was credited back to the seller's account. However, in the other two disputes, the buyers did not resolve the issues, and the seller had to reverse the payments. This highlights the importance of ensuring secure transactions and collecting necessary evidence to avoid disputes

How to Avoid Disputes: Collect Necessary Evidence
To protect your account and ensure secure transactions on Binance P2P, follow these steps
- Obtain a video statement from the buyer
- Get the buyer's mobile number
- Request a video of the buyer's transaction history from the last 24 hours
- If the payment comes into their account, request the CNIC of the sender
- Cancel the trade if necessary
By following these steps, you can avoid complications similar to those experienced in the recent disputes
Stay Vigilant and Secure Your Transactions
Binance has strong security measures in place, but some users still attempt to buy USDT from Binance and sell it outside the platform. Stay vigilant, collect all necessary evidence, and ensure safer transactions to protect
#BinanceTurns7 #US_Job_Market_Slowdown