Crypto Weekly Issue 45 by Cryptoweekly

HIDDEN GEMS

BEGINNERS GUIDE

CRYPTO Page 46

Cookie Sale | Kodi | Shade Protoco l Cryptopolis

Choose the Best Trading Bot

REDDIT CHALLENGES BORED APES Page 13

THE NEWEST CRYPTO OBSESSION

Page 40

VIDEO OF THE WEEK

Page 52

New Crypto Kings Sizzle Reel

WEEKLY $2 cryptoweeklymag.com November 2022 | Volume 45

DEFI VS CEFI LENDING Page 24

CRYPTO LEADS IN THIRD WORLD Page 26

Page 15

ETH MAY LIFT SLUMP Page 30

BITCOIN CALLED BORING Page 16

WELCOME TO THE MOVIEVERSE Page 34

THE IRS & CRYPTO TAXES Page 18

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CONTENTS $2 cryptoweeklymag.com November 2022 | Volume 45 China's digital currency transaction volume reaches nearly US$14B ��7 A Less Decentralized Crypto Ecosystem Has Formed, Says Morgan Stanley ��8 Study Shows Web3 Developers Still Building Despite Crypto Bear Market ��9 A Decentraland Tax Office Brings The Metaverse to Norway �� 10 Institutional interest in crypto hasn't waned despite the bear market, according to a Fidelity survey �� 11 U.S. Banking Regulator Warns of Crypto "Cross-Contagion" with Traditional Finance ��12 With Trade Surge, Reddit NFTs are challenging Bored Apes on OpenSea �� 13 Three Reddit collections rank among the top 10 NFT projects on OpenSea, reaffirming their popularity. �� 13 The difficulty of mining Bitcoin just jumped, and here's why. �� 14 Trading Names: the Newest Crypto Obsession �� 15 Bitcoin Called Stale, Hum Drum, and Even Boring �� 16 The IRS Wants to Know if You Have Any Crypto �� 18 Nikolai Mushegian The Unfortunate Fate of One of Crypto’s Brightest Minds ��20 Understanding the Challenges and Risks of DeFi vs CeFi Lending ��24 Crypto Adoption Leads the World in Emerging Markets and That Means Some Important Things ��26 Some Say Crypto's Slump May be Lifted by the ETH "Merge" ��30 Metaverse move over; here comes the NFT ‘Movieverse’ from Warner Bros. ��34 The So-Called Evils of Intensive Energy Use to Fuel the Crypto Revolution �� 38 How to Choose the Best Crypto Trading Bot �� 40 Mark Zuckerberg: "People are going to look back in decades realizing the Meta-project made history." �� 44 John Hickenlooper Criticizes the Approach to Crypto from the SEC �� 44 1st Women-Led Blockchain Educational Summit Coming Nov 30- Dec 1 in Miami �� 48

CRYPTOWEEKLY Editors Letter ISSUE 45 CEO Nathan Hill nathan@cryptoweeklymag.com

Welcome to Crypto Weekly

nother week has gone by and this is our 45th issue of Crypto Weekly. I am Rob Stone the Editor and along with the guys at CMC hope to bring you another weekly read about significant happenings in the cryptosphere.

Publisher Colin Woolley colin@cryptoweeklymag.com

Editor Robert Stone editor@cryptoweeklymag.com

Advertising Kryptochik kryptochik@cryptomag.finance

Design Dilin Divan dilin@cryptoweeklymag.com

It seems the world will never rest with all its wars and contrived issues we all have to suffer through, as we have experienced Russia frightening the world with prospects of nuclear war over their obsession with having what isn't theirs. For me, the life I lead as an editor of a magazine oozes tranquility in comparison. Moments forged for personal consumption. I have become good at it. An empty home welcoming me with all the smatterings of comfort a person needs, yet simple and me. My time and my place to be formed however I arrange. Sometimes in life, all I have had is the bag I carry with the simple things a person needs to care for oneself and be comfortable and dry. I did well for a season with only a tent and a tree in Alaska with my bedroll and U.S Army 4 season bag with a light tent. Along with some cooking gear and fishing equipment, it was easy to live off nature's bounty. Still, even though so sparsely befitted of such comforts, I had a portable satellite antenna with my laptop and internet connection to the sky. Add a solar charger, and I am set for life alone in the wilds, where I may retreat when desired. The sky rains money for me if I just poke it here and there so I sometimes wonder what the future may bring. I do not need to recess into the wilderness for such simplicity but a cozy room someplace with a table and a fire with a window to let in the light and view will be bounty enough for this simple man who yearns for quiet and peaceful solitude.

Crypto Weekly Magazine is published

It has been another smashing week with crypto and a lot has happened because the music never stops in the cryptosphere and the time keeps rolling on. I hope you all enjoy what we have brought together for you. Please let us know your thoughts, and if you would like to see something featured please do get in touch.

by the Crypto Marketing Company 71-75 Shelton Street, Covent Garden, London, United Kingdom, WC2H 9JQ

editor@cryptoweeklymag.com

cryptoweeklymag

NEWS &

UPDATES

China's digital currency transaction volume reaches nearly US$14B

verified WeChat account of the People's Bank of China reported that the central bank's digital currency (CBDC) had reached 100 billion yuan or $13.9 billion in transactions.

the e-currency will be available in four more provinces. Since June, there has been a 22% increase in the number of shops accepting digital yuan payments, according to the PBoC.

Transaction volume has increased by 20.9% in the two months since June. Since June, 360 million transactions have been processed. According to Forkast, each transfer

Taxation, land sales, and loans are the areas where the digital yuan is tested. In addition to medical care, transportation, and retail payments. —Crypto Weekly

averaged 277 yuan or US$38. CBDC, also called the digital yuan or e-CNY,

is now being piloted in 23 Chinese cities. During its soft launch in 2022,

Ethereum Cofounder Vitalik Buterin Says Crypto a Better Investment than Gold

uring a Twitter thread., Ethereum founder Vitalik Buterin said that crypto was "the better bet" than gold and that gold had a lower adoption rate than crypto. Asked about the benefits of crypto over gold by The New York Times bestselling author of Soonish, Zach Weinersmith, Ethereum founder Vitalik Buterin replied. In response, Buterin said gold is "extremely cumbersome"

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and "inconvenient to use when transacting with untrusted parties." He further argued that gold does not support safe storage options such as multisig wallets, which require multiple parties to authorize transactions. Cryptocurrencies have a higher adoption rate than gold, so cryptocurrency is the better asset to hold, according to Buterin. Investors looking for a safe haven have an ongoing

debate between gold and cryptocurrency. The price of ether was trading at US$1,556 at 3:30 p.m. in Hong Kong, a gain

of over 21% on the week. At that same time, the price of gold was trading at US$1,661, a loss of 1.6%. —Crypto Weekly

November 2022 | Volume 45

NEWS &

UPDATES

A Less Decentralized Crypto Ecosystem Has Formed, Says Morgan Stanley O

n Wednesday, Morgan Stanley (MS) said the crypto ecosystem is becoming less decentralized. While blockchains themselves are decentralized, the need to run significant parts of them on only a few cloud providers can be a risk as crypto regulation develops. According to the report, half of Ethereum's nodes are hosted on Amazon Web Services (AWS). A prolonged server outage or censorship of some participants or crypto products may cause problems. Morgan Stanley says the crypto ecosystem is becoming much less decentralized and more dependent on individual services due to the proliferation of applications, code, services, and companies feeding into decentralized blockchains. Even though it does come with new challenges, the bank says this is not surprising since

"centralization is a fundamental evolution of the financialization of cryptocurrency markets." Last month, Ethereum switched to proof-ofstake (PoS), a transition is known as the Merge. Four companies manage 60% of Ethereum's validators. This centralization issue is known to the Ethereum community, and potential solutions are being worked on. The banking institution said that increasingly

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decentralized autonomous organizations (DAOs) are becoming centralized companies. According to the report, the UNSWAP foundation comprises a management team, advisers, and a board that manages its budget. DAOs are blockchainbased organizations or companies governed by native crypto tokens. Smart contracts typically replace traditional corporate structures and

allow token holders to vote on important matters directly related to the DAO. With the development of regulation-compliant cryptocurrencies that attract users, the digital assets market has begun to resemble centralized banking. Meanwhile, traditional finance (TradFi) is rapidly launching crypto products to offer their clients transactional and related services. —Crypto Weekly

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Study Shows Web3 Developers Still Building Despite Crypto Bear Market

ew research from Web3 developer platform Alchemy suggests that developers may already be building new products during the current crypto bear market.

of non-fungible tokens (NFTs) has fallen 88% between the third quarter of last year and the third quarter of this year. Still, the number of Ethereum library installations has increased by 178%.

While the price of ether has dropped about 60% since the beginning of 2022, over 40% more smart contracts have been deployed on Ethereum since the end of the first quarter. The total-value locked (TVL) of decentralized finance (DeFi) has fallen 69%, and the trading volume

Based on the data, it is clear that prices no longer serve as the only incentive to enter the market. The technological capabilities of Web3 are luring developers instead.

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In the last year, the usage of software developer

kits (SDKs) and smart contracts has more than doubled. Additionally, 17,736 smart contracts were deployed in September - an all-time high. This is due to the Ethereum Merge and increased enthusiasm for building decentralized apps on the new proofof-stake blockchain. In 2022, smart contracts deployed have increased by 50% over last year, according to Alchemy's data. As a result, many more developers and brands are becoming aware of the

environmental impact of proof-of-work. In previous bear markets, it has been challenging to build Web3 products despite this crypto winter's hype. Three key factors explain the difference between bear markets: greater long-term conviction in digital assets, more Web3 education resources, and more advanced developer tools. In light of these components, there are no longer the same obstacles that may have led people to lose faith in 2019. —Crypto Weekly

November 2022 | Volume 45

NEWS &

UPDATES

A Decentraland Tax Office Brings The Metaverse to Norway

he Norwegian government is establishing a metaverse tax office in an attempt to embrace Web3.0. Norway's national register and tax authority announced their partnership with consulting firm Ernst and Young (EY) at the Nokios conference on Wednesday. Nokia says the initiative aims to deliver services to younger, tech-savvy individuals while establishing a Web3 footprint. The Nordic blockchain lead at EY, Magnus Jones, wrote on LinkedIn on Tuesday that he hoped

the partnership with Norwegian authorities would lead to better education in the crypto space by informing users about taxes associated with decentralized finance (DeFi) and nonfungible tokens (NFTs). Decentralized autonomous organizations (DAOs), wallets, and smart contracts are also being explored as Web3 services. Jones again commended Norwegian authorities for taking action to bring clarity to a complex situation. Building on the world's first guidance on

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how to tax DeFis and NFTs, as well as being a leader in the crypto space overall." Besides the metaverse, Norway has been slowly integrating crypto services nationally. In

June, the government announced it would launch a capitalization tables platform for unlisted companies using the Ethereum scaling service Arbitrum. "We are looking forward to seeing what new applications are built on Ethereum, and we are committed to scaling Ethereum globally," Arbitrum tweeted. With the Bank for International Settlements, Norway, Israel, and Sweden joined forces in September to explore the possibility of introducing a cross-border CBDC (central bank digital currency). Other nations are integrating Web3 tools nationally as the Scandinavian nation dives deeper into the crypto space. In July, the Shanghai city government announced that it plans to boost its metaverse industry by $52 billion by 2025. In addition, Japan's prime minister announced earlier this month that the country would integrate metaverses and NFTs into its digital transformation plans. —Crypto Weekly

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Institutional interest in crypto hasn't waned despite the bear market, according to a Fidelity survey R

ecently, asset management giant Fidelity has made more significant moves into crypto. On Oct 28, Fidelity Digital Assets will allow institutional clients to trade ether (ETH). In less than two weeks, Fidelity launched a new Ethereum Index Fund for accredited investors. With the new Fidelity Digital Assets Institutional Investor Digital Assets Study, institutional investors and crypto assets continue to be combined. A press release provided to CoinDesk says that 58% of the people surveyed

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said they had invested in digital assets in the first part of 2022 and 74% also said they would do so in the future. From January 2 to June 24 this year, 1,052 institutional investors participated in the survey from the U.S., Europe, and Asia. High net worth individuals, pension funds, endowments, foundations, and family offices were among the respondents. Tom Jessop, the president of Fidelity Digital Assets, said the data reflect an increased adoption of digital assets in the first

half of the year. “While markets have faced challenges in recent months, we believe the fundamentals of digital assets remain strong, and the market's institutionalization over the past several years has prepared it to withstand the current events,” Crypto hedge funds and venture capital funds, both of which would naturally have bullish views on the market, had the highest investment rate in digital assets at 87%. Following high net worth individuals and financial advisers were

the next biggest crypto investor groups. Asian respondents owned the most digital assets at 69%, closely followed by Europeans at 67% and Americans at 42%, which saw increases of 11 points and 9 points, respectively, since 2021. Digital assets appealed to the overwhelming majority (88%) of investors due to their high potential upside, technological innovation, and decentralized nature. Crypto investors cited security concerns as well as price volatility as reasons for not investing.

November 2022 | Volume 45

NEWS &

UPDATES

U.S. Banking Regulator Warns of Crypto "Cross-Contagion" with Traditional Finance

egulators proposed setting aside capital for cryptoasset companies on Tuesday when undertaking similar activities following a "crypto winter" that wiped $2 trillion off the sector, losing investors money. G20's Financial Stability Board (FSB), which coordinates financial regulation, made nine recommendations for members to apply. Regulators warn investors that the sector is largely unregulated in most countries, only following the rules to

guarding against money laundering and terrorist financing. According to Klaas Knot, the Dutch central bank president who chairs the FSB, the recent drop in cryptocurrency prices has reinforced the board's assessment of existing structural vulnerabilities. A likely recovery in crypto value is not large enough to threaten financial stability, according to the FSB, which says the $835 billion cryptocurrency market is not as large as the $3 trillion it had at its peak in November last year.

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"They are therefore likely to return to the forefront sooner rather than later as concerns about their effects on financial stability grow." Knot wrote to G20 finance ministers in Washington DC, this last week. As part of the FSB's recommendations, firms should put in place a framework for oversight, risk management, and data management and be prepared to shut down cryptoasset companies with problems. Several crypto-asset lenders failed during the recent market turmoil because they were vulnerable to runs, lacked capital, were exposed to risky entities, and took on risky business ventures, which led to failure, according to the Financial Stability Board. In particular, the proposals seek to ensure crossborder consistency when regulating crypto-assets during a period in which the European Union will

prepare groundbreaking financial regulations for the sector beginning in 2024. For crypto firms to ensure this, according to the FSB, some functions may need to be separated to ensure that they are equally regulated regardless of whether they are cryptoasset providers, banks, or payment service providers. There will be a public consultation of the proposals until December 15, after which their finalization will be expected by mid-2023 when FSB members should begin implementing them as soon as possible. As part of its review, the FSB also looked at its guidance on regulating stablecoins, backed by assets and currencies. As a result of the crash of the dollar-backed Terra stablecoin in May, the FSB warned that stablecoins without stabilization mechanisms are highly susceptible to loss. As a result, the watchdog recommended revising its guidance, including strengthening governance mechanisms, establishing a stabilization mechanism, and clarifying and strengthening redemption rights for stablecoins. —Crypto Weekly

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NEWS &

UPDATES

With Trade Surge, Reddit NFTs are challenging Bored Apes on OpenSea

Three Reddit collections rank among the top 10 NFT projects on OpenSea, reaffirming their popularity. $6.5 million. The social network launched its NFT marketplace in July, releasing polygon-based profile picture avatars based on its Snoo logo. It was reported last week that 2.5 million wallets had been opened since the marketplace launched.

n Tuesday, cumulative sales of the avatar collectibles on Reddit topped $6.5 million, according to the platform's Polygon-based NFT collections. Over the past several hours, Reddit NFT collections have outperformed blue chip projects on the secondary non-fungible token (NFT) marketplace OpenSea. OpenSea reports, over the past 24 hours, the Spooky Season collection has experienced a 121% increase. Currently, the Spooky Season collection has a trading volume of 538 ETH (approx.

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$760,000) - slightly behind the reigning top NFT project Bored Ape Yacht Club, with 642 ETH or $906,000. Reddit's The Senses x Reddit and Foustlings x Reddit avatar collections, as well as Ringers by Dmitri Cherniak and Ringers by Dmitri Cherniak, are also making their way into the top 10, including other Reddit projects such as Riggers by Dmitri Cherniak. According to blockchain data platform Dune analytics, the total sales volume of Reddit NFTs has reached over

According to user Umbra1661, who owns dozens of Reddit NFTs, the community engagement of Reddit has contributed to the booming interest in Reddit NFTs. He said, "Due to Reddit's huge power, I believe in the project's success. But I just like the art as well!" Because of their widespread appeal and accessibility, seasoned collectors might be flocking to purchase Reddit NFTs, according to notable Ape collector Franklinisbored. It is a sign of support and confidence in their execution that whales like Reddit [NFTs] because it has brought

in a huge group of newcomers to NFTs. TheRedditAvatarWhale, who claims to have spent $50,000 on Reddit avatars, wrote on Reddit Tuesday that the appeal of collecting Reddit NFTs lies in their ability to simplify the process for a more mainstream audience. According to the user, traditional NFTs have a steep learning curve that makes them difficult to enter. Furthermore, he praised Reddit's reputation as a trusted platform and its long-term utility. For some, the surge in Reddit NFTs has reaffirmed the long-held belief that PFPs are the ultimate NFT use case, even for the non-crypto native. For all the innovation the space has seen in the last two years, its original appeal – artwork as a form of digital identity – remains strong. —Robert Stone

November 2022 | Volume 45

NEWS &

UPDATES

The difficulty of mining Bitcoin just jumped, and here's why.

ince May 2021, the mining difficulty for Bitcoin has risen by 13.55%, making it the most valuable cryptocurrency by market value. Several factors are responsible for the surge, according to Daniel Frumkin, director of research and mining insights at Braiins.

18 months to complete. One example is the latest delivery of new mining rigs. Many in the industry agree, including Youwei Yang, chief economist at BIT Mining Limited (BTCM), who has stated that the mining rig deliveries are the "principal reason."

An increasing number of devices are being plugged into newgeneration hardware as large infrastructure builds are slowly being completed, taking six to

"After the China ban, bitcoin miners began searching for new homes in May 2021. Though some are faster than others, most have not reached capacity

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until recently, as the majority has finally settled," Yang says. "Mining rigs of the new generation are a major factor, as late last year, many bought mining rigs via forward contracts, and now is the delivery time of all of them at once." Additionally, the price of advanced mining rigs has declined along with Bitcoin's price. During a bear market, miners struggle to maintain a profit margin due to the heightened

difficulty of mining. "Since miners aren't truly profitable when their hardware is taken into account, they'll remain online as long as their marginal cost of mining is below the Bitcoin price," Yang explained. Many miners struggle to break even on recent hardware purchases due to the depressed profit margins. But they haven't yet hit levels that would force them to shut off completely." —Crypto Weekly

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NEWS &

UPDATES

Trading Names: the Newest Crypto Obsession T

here is a new craze in town as NFTs are traded for eye-popping sums. Coin.crypto sold upwards of $100K, and beer.eth, which fetched $39K, are examples of new domain names users can use instead of 16 random numbers and letters. As with a custom car plate, these crypto names may seem like a lot of money, but backers say Web3, a blockchainbased future internet, might make these names valuable real estate. Many investors are picking up buzzy domains in the market on platforms like OpenSea, intending to flip them for a profit in the future. According to Matthew Gould, CEO of Unstoppable Domains, which sells domain names ending in .crypto, .nft, and .wallet on the website, "we have domain names starting at $5, and some have sold for as much as $100K." Different words and lengths are valued differently. The company has had major deals in the past few months, including wallet.crypto's sale for

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The popularity of domain names is expected to grow as crypto becomes more mainstream. Digital wallets use 16-character alphanumeric addresses that could be more userfriendly.

$250k and earn .crypto's sale for $100K, both in April. ENS, one of the top domain sellers on OpenSea, said .eth names generated by the Ethereum Name Service (ENS) were the fourthmost traded type of NFT in September, with total volumes jumping 75% from a month ago. As the crypto winter batters the NFT market, trading in relatively new assets has grown apace. .eth domain registrations topped 433,000 in September, the highest in 12 months and a 5,000% increase from last year. Domain names from ENS were outranked only by NFTs (non-fungible tokens) from wellknown collections like CryptoPunks.

According to domain experts, the most valuable domain names include simple and short English words, a reference to pop culture or the Web3, and numbers, such as crypto.nft and 000.eth. What is the value of a name? It is still the early days for crypto domains, however. While cryptocurrency and NFT markets are highly volatile, there is no guarantee they will live up to their promises. A report by Block Intelligence also raises questions about the scalability of the technology and the possibility that competing domain providers will issue similar names, potentially causing funds to be misdirected.

A rise in the value of digital assets linked to .eth domain names could signify investor confidence. Crypto tokens linked to .eth domain names have soared nearly 90% in value during the third quarter - though still a far cry from the $40 they traded at the beginning of the year. Despite struggling to stay above $20K, Bitcoin ended the quarter mostly flat. Nevertheless, many market players warn that it's difficult to value a domain name since it's a speculative bet. Consequently, institutional investment is weaker. Investing in particular domain names can be challenging from an investment perspective. It's not within our experience to determine which domains will accrue value and which will not. —Robert Stone

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NEWS &

UPDATES

Bitcoin Called Stale, Hum Drum, and Even Boring H

istorically, Bitcoin has been known for its volatility. However, this has not been the case of late. Bitcoin and other cryptocurrencies were a little choppy recently, but once up a little, then it's down a little ad nauseam. The consensus among analysts is that cryptos are poised for a major move or have reached a bear market bottom. A broker analyst at Oanda says recent trends are more of a consolidation than a cause for concern despite recent trends of lower prices. We are still experiencing a longer-term trend of consolidation around $20,000, which is extremely important. As for whether that will be true at the end of this week or the week after, much like elsewhere, a lot will ultimately depend on the Fed minutes and inflation data." With the Federal Reserve's aggressive shift in tightening financial conditions, cryptos have become more tightly correlated with stocks this year due to a gloomy macro backdrop of high inflation and rising interest rates.

Risk assets will likely be affected by minutes released from the Fed's September meeting on monetary policy in the day ahead. Thursday will see the release of the consumer

price index (CPI) for September, which is a key indicator of inflation. When the Fed decides on policy in early November, investors will closely monitor the minutes and data for signs of what the Fed will do. Bitcoin's most defining characteristic, volatility, has diminished in the crypto market. Bitcoin and other digital assets continue to trade mostly in lockstep with stocks, but the moves have been far milder relative to equities than they once were. Ironically, this stability has some analysts worried.

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In the spotlight is increasing leverage in the derivatives market, where Bitcoin perpetual futures represent the most liquid market in all of crypto. Traders can take outsized positions that are extremely sensitive to price swings with Bitcoin futures contracts bought with leverage or borrowed money. On Binance, the world's largest crypto exchange, open interest, which is the total number of active derivatives contracts, recently reached an alltime high. "Leverage is going full-on parabolic in the crypto derivatives market," said Vetle Lund, an analyst at crypto firm Arcane Research. "The current setup is ripe to [wreak] havoc in either direction." "We will not see a significant consolidation range breakout without experiencing a significant flush in leverage, and the current leverage levels suggest that a breakout will be very volatile," Lund added. "The strong growth trend in open interest in crypto derivatives is burdensome and will end in violence."

Despite a volatile traditional market backdrop, Bitcoin prices have shown remarkable relative strength of late. Some analysts have viewed the drop-off in volatility as a sign of long-term stability for crypto markets that have already faced a brutal year in 2022. Bitcoin, after all, continues to trade at less than onethird of its all-time high reached in November 2021. Crypto intelligence firm Glassnode said that several macro metrics indicate Bitcoin investors are setting up a bear market floor. There is also a possibility that this unsettling calm will last for a while, according to Glassnode. According to Glassnode, "Many onchain metrics, market structure, and investor behavior patterns point to a textbook bear market floor." The missing piece is duration, and history suggests that a full recovery may still take several months.

—Crypto Weekly

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NEWS &

UPDATES

NEWS &

UPDATES

The IRS Wants to Know if You Have Any Crypto

ndoubtedly, some investors are concerned about the crypto price crash in 2022. The Biden administration, Congress, and the IRS are currently paying attention to cryptocurrency for those who haven't fled yet. The IRS proposed a recent change in cryptocurrency tax reporting on Form 1040 regarding crypto news and taxes. Also, under the Inflation Reduction Act, the agency will receive $80 billion, some of which will be used to

enforce digital asset laws, including compliance with cryptocurrency tax laws. A court order has also been obtained requiring cryptocurrency brokers and exchanges to disclose information to the IRS. Cryptocurrency transactions involving investors that haven't been reported and taxed are mentioned in that information. While IRS enforcement of crypto tax reporting and compliance is not new,

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recent developments made by Congress, the Biden administration, and the IRS make maintaining compliance with crypto tax reporting and compliance more crucial than ever. Here are some starting points. Taxation of cryptocurrency Cryptocurrency taxation is a common question. Because cryptocurrencies are considered property, the IRS taxes them like

other capital assets. The fair market value of virtual currencies and your basis in them can affect asset losses and taxable gains when you sell or trade them. The IRS requires information reporting on virtual currency payments, so keep that in mind. To comply with federal tax laws, all taxpayers must answer a virtual currency question on line 10 on Form 1040. . At the beginning of 2021, the check-the-box question asked: "Have you ever received, exchanged, sold, exchanged, sold, exchanged, or attempted to exchange any virtual currency?" If you "merely owned" Crypto, i.e., it was in your wallet or account or was transferred between your wallets or accounts, then you could answer "no." If you purchased your cryptocurrency with real currency, then you could also answer no to the question about virtual currency. When receiving cryptocurrency as a payment for goods or services, you should answer "yes." This is also true if you receive or transfer cryptocurrency for free (but not as a gift). There are also reasons to answer yes, including receiving new Crypto

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NEWS &

UPDATES

from mining or staking, getting new Crypto through a hard fork, or exchanging virtual currency for goods, services, or property. Tax reporting changes for cryptocurrencies In recent weeks, the IRS has proposed changing the virtual

as a gift. Cryptocurrency gifts under that amount are not taxed. It would also be tax-free if you gave a crypto gift under the $16,000 gift tax allowance for 2022. You may have to pay capital gains tax when you sell or transfer the cryptocurrency you received capital gains tax. The IRS should issue final instructions for the 2022 Form 1040 soon. Does the IRS require cryptocurrency to be reported?

currency question. It asks: "Have you received (as a reward, award, or compensation) or sold, exchanged, gifted, or otherwise disposed of a digital asset (or a financial interest in one)?". You may have received or sent Crypto as a gift, indicating to the IRS that they are interested in your activity. NFTs or other digital assets could be emphasized. The gift tax allowance for 2021 was $15,000 if the IRS did not ask about cryptocurrency received

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Taxpayers have long been required to keep records of the positions they take on their tax returns, which the IRS emphasizes. You should keep accurate and detailed records when dealing with cryptocurrency. Cryptocurrency or other digital assets should be kept in a record that shows any sales, exchanges, or dispositions and their fair market value. In addition, cryptocurrency brokers are frequently asked by the IRS to provide information about customers engaged in cryptocurrency transactions (i.e., John Doe summonses). SFOX, a cryptocurrency prime broker, has been summoned recently. According to the IRS, cryptocurrencies and

other digital assets pose significant problems with tax compliance. Due to the IRS's focus on closing the tax gap. In other words, summonses are issued when taxpayers owe more than they pay. Cryptocurrency brokers are now required to provide more information about client trading activity due to the Bipartisan Infrastructure Law enacted earlier this year. Legislators and some in the crypto industry opposed the requirement, which is set to take effect in 2023. In recent months, however, senators of both parties have proposed legislation that clarifies the definition of broker. By passing this legislation, cryptocurrency brokers would not have to report information about digital asset mining, wallet providers, or software developers. Cryptocurrency and Inflation Reduction Act As part of the Inflation Reduction Act, a massive climate, energy, tax, and healthcare legislation signed by Vice President Biden on August 16, $80 billion will be allocated to the IRS under the virtual currency question and enhanced focus on digital assets. In the

new law, about $46 billion is designated for IRS enforcement. It mentions that IRS funds might be used to enforce tax compliance for digital assets, such as cryptocurrency, although there will be a range of enforcement activities. President Biden released a comprehensive Digital Asset Framework on September 16. As part of the framework, Biden called for a whole-ofgovernment approach to addressing the risks associated with digital assets, such as cryptocurrencies, in his March 9 Executive Order. Digital assets must be scrutinized and enforced more rigorously in Biden's framework because of the instability of Crypto - and the multi-trilliondollar crash in 2022. Due to all these developments, cryptocurrency tax enforcement continues to receive significant attention and resources. Thus, it would help if you remain diligent and accurate with your tax reporting and compliance as a crypto investor. Congress and the Biden administration should also be updated on digital asset enforcement. —Crypto Weekly

November 2022 | Volume 45

Exclusive

Nikolai Mushegian

The Unfortunate Fate of One of Crypto’s Brightest Minds I

George Smith

t’s a warm, sunny morning in Condado, near the San Juan region of Puerto Rico. On Condado Beach the waves are crashing onto the shore; the current is overwhelmingly strong. Crowds are beginning to fill the area as walkers, swimmers and sunbathers occupy their favourite spot. There’s not a single lifeguard to be seen. The clock strikes 9:15am on the 28th October 2022 and a police report is instigated. 29-year-old Nikolai Mushegian’s lifeless body is found washed ashore. The death of Nikolai Mushegian has sparked an

intriguing debate on social media platforms and has left a significant impact on the wider crypto industry. Mushegian is credited as the co-founder of MakerDAO along with Rune Christensen, helping to create the decentralized stablecoin DAI, as well as Reflexer’s RAI, an ether-based fork of DAI. He also co-founded Balancer, a DeFi liquidity infrastructure/automated market maker. Although not much is known about Mushegian’s private life, he was clearly an influential figure in the crypto industry and played

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a vital role in getting many important crypto projects up and running. The DeFi space specifically would not be the same today without Mushegian’s technical abilities. The controversy surrounding Mushegian’s death stems from several tweets he sent out just hours before his death. On the Friday morning he tweeted out that the CIA and Mossad are running “some kind of sex trafficking entrapment blackmail ring out of Puerto Rico” and went on to state “they are going to frame me with a laptop

planted by my ex-gf who was a spy. They will torture me to death”. This follows earlier tweets throughout September where Mushegian tweeted there are three possible futures for him, “1) suicided by CIA, 2) CIA brain damage slave asset, 3) worst nightmare of people who fucked with me up until now”. Mushegian’s twitter account, where he posted under the handle @delete_ shitcoin, featured many claims of conspiracies and organizations out to get him. El Nuevo Día was the first news outlet to report the incident, the

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newspaper with the largest circulation in Puerto Rico. They reported that the San Juan Homicide Division along with Agent Rosario, attached to the Isla Verde Tourist Camp, were in charge of investigations. However, as of the time of writing there have been no reports of foul play. This unfortunately leaves only speculation regarding Mushegian’s fate. Was he truly tied up in a wider conspiracy involving the CIA and Mossad, or was his drowning death simply an accident? One can only look at the available facts when forming a conclusion to the events, and even with every bit of evidence, the overall outcome remains unclear. The crypto industry is intrinsically linked to conspiracies, from government intervention and regulation to central banking and the illuminati. It’s often tricky to distinguish fact from fiction and wider speculation only feeds into this. The facts, therefore, are as follows and should help encourage you to form your own conclusion. Condado Beach is cited as a dangerous area to swim in and is notorious for its strong and violent currents. Despite these warnings however, the Puerto Rican government have still not fulfilled on

their promise to instil lifeguards and rescuers along the coastline. As far back as February this year, El Nuevo Día reported how senator of San Juan, Henry Neumann, had denounced the government for failing to assign lifeguards to the sector it had promised. He stated “it is unacceptable” after a lack of lifeguards led to a minor being swept away by the marine currents on the 20th February 2022. This follows the 8 fatalities who drowned on Condado Beach alone in 2021. Drowning along the San Juan coastline is an unfortunately common occurrence due to a lack of official supervision. It is not an impossibility that Nikolai simply went for a swim and didn’t return, especially as TrustNodes indicates how he was a resident of San Juan. The validity of Mushegian’s tweets are ambiguous at best, especially when examining through the lens of mental health. Mushegian’s friend and co-founder of Balancer, Fernando Martinelli, tweeted out on the 1st November, “RIP and may you be a wakeup call to all the brilliant but often troubled ones in the space: get help before it’s too late”. Mike McDonald, another cofounder of Balancer, also sent out a tweet labelling Mushegian as “one of the most brilliant, eccentric and

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sometimes difficult people I’ve ever had the pleasure of working closely with”. These tweets, from two of Mushegian’s closest business partners, seem to suggest that Nikolai was perhaps not of the soundest mind, possibly explaining some of his nonsensical tweets and bold accusations. Multiple redditors also seem inclined to suggest how Nikolai was suffering from suicidal tendencies and even schizophrenia, however this is unverified and remains a questionable interpretation without official evidence. Although a possible explanation, one should take this with a pinch of salt as it is unfortunately inconclusive. Even though an official diagnosis hasn’t been made available to the public, the phrasing of the tweets from Martinelli and McDonald do seem to suggest a more indepth problem regarding Nikolai’s mental health. This is especially relevant when in the context of mental health studies. CPS Group published a finding regarding the technology industry and mental health, “The British Interactive Media Association (BIMA) recently revealed that tech workers are five times more likely to suffer from a mental health problem, compared

Nikolai was perhaps not of the soundest mind, possibly explaining some of his nonsensical tweets and bold accusations

to the wider population”, which encompasses the crypto industry and many key figures in the scene. If Mushegian’s unfortunate fate truly was the result of a shady conspiracy, then I’m sure more information will soon become available to piece the entire picture together. However, if his death was a direct result of his struggling mental health, then the tech and crypto industry need to start providing further aid to struggling and vulnerable employees. The Puerto Rican government should also look at this as an opportunity, as well as a necessity, to immediately begin implementing further supervision along their coastlines, specifically in dangerous areas such as Condado Beach. Whichever conclusion one might draw, Nikolai Mushegian should be remembered as the genius he was, and a true pioneer in the DeFi scene. Mushegian’s legacy will never be forgotten. An exemplary technician and an extremely talented individual, let our thoughts now be with Nikolai’s family and friends.

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CHANGE

IS COMING

KAPEX

FEATURE

Understanding the Challenges and Risks of

DeFi vs CeFi Lending T

he practice of crypto lending has become increasingly popular among crypto investors to generate additional income from their crypto portfolios. Before crypto lending, investors typically capitalized on their investments via longterm holdings of coins and tokens or short-term trading in volatile markets. With the maturation of the crypto market, additional services became available to investors. As the crypto market grew, more traditional services such as banking were introduced. Businesses can now offer these banking services to crypto users worldwide using smart-contractenabled cryptocurrencies

such as Ethereum. Crypto holders can borrow and lend through DeFi, one of its most popular uses.

yields. Through blockchain technology, DeFi lending offers these services using smart contracts.

Similar to banks that offer a yield to cash depositors, DeFi banking services offer a yield to crypto holders. By depositing crypto tokens into a smart contract, users can earn interest on their money, usually paid in cryptocurrency.

Benefits and disadvantages of DeFi

Many crypto investors have been attracted to these smart contract lending protocols because they typically offer higher yields than traditional banks. By eliminating a central party that facilitates lending and borrowing functions, DeFi banking services reduce fees and increase

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In addition to maintaining anonymity, being a decentralized system, allowing loans with excessive collateral, and being available worldwide, a DeFi lending protocol has many advantages over traditional banks. DeFi-powered lending and borrowing services have grown in popularity, and more businesses have started to offer them. Popular platforms include Aave, MakerDAO, Compound, and Solend. DeFi lending platforms currently hold $65 billion.

Although crypto developers have focused on improving the user experience, investors still face a unique challenge when interacting with this technology. Users must interact directly with the protocol if they wish to participate in the DeFi banking system. They can send their crypto to the smart contract and manage their investment directly. The lack of thirdparty services when interacting with a DeFi protocol turns off many people who want to earn a yield on their crypto investments. Between DeFi and TradFi, CeFi serves as a bridge Since technological barriers existed, entrepreneurs saw

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FEATURE

the need to create an intermediary. The rise of "DeFi as a service," or platforms that only require users to deposit their coins in a central entity to generate yields, led to platforms like BlockFi, Celsius, and Voyager, among others. The market often calls these companies "CeFi" (centralized finance) because they are easy to use and a much simpler experience for novices. Their assets under management quickly grew after they began marketing their services. CeFi's user experience is much simpler, with only one account needed to start earning a yield on crypto holdings. The crypto companies would then lend money directly to borrowers, handling crypto transfers and underwriting. The CeFi platforms would allow users to deposit funds and receive income monthly. Users need only trust that the smart contract is written for DeFi in a secure manner when interacting with it. This is a significant difference from CeFi. The DeFi platform is peer-topeer lending, so it does not require the same level of trust as dealing with a CeFi company. Depositing funds to a CeFi platform involves many traditional banking risks, such as the platform's solvency,

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underwriting standards, collateralization standards, and trusting the platform's lending discretion. Using a DeFi platform directly requires more technological knowledge on the user's part. Investors must manage their own investments much more actively. Because DeFi is trustless and decentralized, it creates more confidence in banking services since the underlying smart contracts can be audited. Essentially, CeFi platforms offload the depositor's technological challenges to the institution but still require the depositor to trust the institution and its lending practices. There is an explosion of CeFi warning signs The growth of CeFi platforms in 2020 and 2021 was phenomenal. As "DeFi as a service" gained popularity, many CeFi platforms managed billions of dollars for their customers. Customers' funds were frozen in the summer of 2022 by Celsius Network and Voyager Digital, two popular CeFi platforms. Their lending standards were inadequate, which resulted in many customers losing their funds. There was a lack of proper risk prevention measures and extreme

market conditions, and the crypto market cap fell nearly 60% from its high. Consequently, Celsius and Voyager have declared bankruptcy, freezing depositors' accounts and restricting their withdrawals. These centralized lending platforms are also affected by regulatory concerns. A lawsuit was filed against BlockFi by the Securities and Exchange Commission (SEC), and it was fined for failing to register appropriately. BlockFi has agreed to pay $100 million in penalties and can no longer offer new customers yield. The company is currently applying for the correct licenses and is hopeful that it will be able to offer the yield to customers once the SEC approves it. Despite this, DeFi platforms continue to work without a hitch. CeFi platforms are no longer available, but other platforms, such as Ave and MakerDAO, have faced different difficulties. Which is better for advisors and clients: DeFi or CeFi? An investor has to choose between learning the technical knowledge necessary to interact with DeFi platforms individually or trusting a CeFi platform. There may be a learning

curve associated with DeFi platforms' use of open-source smart contracts compared with using CeFi platforms. It has been shown that the permissionless and trustless systems DeFi uses are a sustainable method for investors to generate income from their crypto positions during difficult market conditions. Educating yourself on DeFi and CeFi risks and

the various available services is crucial to being a good advisor. Your advisors should understand the risks and concerns associated with both ends of the spectrum - interacting with a DeFi platform individually and trusting a CeFi platform if clients are interested in generating a yield on their crypto positions. Maybe CeFi platforms will soon be regulated businesses with adequate risk management and investor protections. Until proper protections are in place, learning to interact directly with DeFi platforms presents a unique and more transparent method of gaining access to these services.

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FEATURE

Crypto Adoption Leads the World in Emerging Markets and That Means Some Important Things Robert Stone Emerging markets are adopting cryptocurrencies at a rapid pace despite global financial headwinds and a significant decline in the value of cryptocurrencies. According to Chainanalysis cryptocurrency adoption in the first two quarters of 2022 has outpaced 2019 and 2020 combined and the year is still ongoing. Top-four adopters on the Chainanalysis

index were Vietnam, the Philippines, Ukraine, and India, followed by Pakistan, Brazil, and Thailand. While the current bear market has weakened sentiment about cryptocurrencies in developed countries, demand has remained resiliently strong in emerging world markets. What that tell me is that there is something the people in emerging markets are gaining by crypto adoption, or they simply would not be investing. The fact they

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are is an extraordinary commentary on the possibilities of an inevitable breakout ahead. Factors that drive adoption Cryptocurrencies and their decentralized exchanges can ease transaction flow and limit exposure to macroeconomic pressures in emerging markets as interest rates rise and inflation weakens fiat currencies.

Touted as a hedge against inflation, cryptocurrencies have suffered one of the biggest drops since the second half of 2021, when inflation increased rapidly worldwide, causing many banks to doubt that premise. However, people continue to buy them anyway. In response to the Covid-19 pandemic, many citizens sought innovative ways to access financial services through e-commerce solutions and they did it out of

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necessity. Crypto solves problems they have, or they would not be buying it. According to the World Bank, the number of unbanked citizens has declined from 1.7 billion in 2017 to 1.4 billion in 2021. According to the U.K. research platform Merchant Machine, over 65% of the population in Morocco, Vietnam, Egypt, and the Philippines is unbanked. Chainanalysis ranked three of these countries among the top 15 in their index. Middleeastern and African citizens are unbanked at a rate of 50%, followed by South and Central America at 38%, Eastern Europe at 33%, and the Asia Pacific at 24%. Across Western and Central Europe, 94% of citizens are banked.

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As a result of these disparities in financial inclusion, it is not surprising that citizens of emerging markets are increasingly adopting cryptocurrencies and decentralized exchanges, according to Chainanalysis, which is more important than the volume of holdings, trades, or even price. Having access to crypto means important issues are being solved that people want or need. Assessing the risks and rewards In the wake of El Salvador becoming one of the first countries to accept Bitcoin as legal tender last year, a "Bitcoin City" is being built in the country as a tax haven for crypto investors. Following El Salvador's adoption of

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FEATURE

Bitcoin as legal tender, its price fell from $47,000 to less than $20,000, raising concerns about this plan and El Salvador's ability to cover sovereign bonds due in 2023 and 2025 worth $1.6 billion. Several African nations are encouraging the use of cryptocurrencies to drive financial inclusion. Among the continent's top four economies Egypt, Kenya, Nigeria, and South Africa - Bitcoin has been adopted as legal tender in the Central

African Republic since April. Golix, Zimbabwe's largest cryptocurrency exchange, uses a Bitcoin ATM to allow citizens to exchange U.S. dollars for Bitcoin, the only place for citizens to do so in the country. Citizens circumvent bans Due to their use for illicit payments, governments may restrict cryptocurrency trading, posing a major threat to their long-term viability. Mining and trading of

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cryptocurrencies were banned in China last year. There are also implicit bans on these activities in 42 countries, including Egypt and Morocco. According to Chainanalysis, China was the 10th-largest adopter of crypto, while Morocco was the 14th. According to reports, many Chinese citizens are skirting the ban, and the government is having trouble enforcing it. Blockchain-based nonfungible tokens (NFTs) are

allowed in the country, provided the exchanges are regulated. In Central and South Asia and Oceania, most NFTs are bought and sold with cryptocurrencies. In Central and South Asia and Oceania, most NFTs are bought and sold with cryptocurrencies. New cryptocurrency adopters are also attracted to blockchain-backed, playto-earn (P2E) gaming, most notably in ranking #1 in Vietnam. Southeast Asians are turning to

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FEATURE

have coalesced around the regenerative finance movement. A report released by the White House Office of Science and Technology Policy in September identifies Web3's capability to support technologies that monitor and mitigate the impact of climate change. Some Important Things We spoke about the advancing adoption of crypto in emerging markets, meaning important things above, but here is their most important driving force.

new, locally developed P2E options despite the high-profile hacking and collapse of Axie Infinity earlier this year. Mining that is more sustainable Considering recent energy shortages and supply chain disruptions caused by Russia's ongoing invasion of Ukraine, another fundamental concern about cryptocurrencies is their energy cost. The Cambridge Bitcoin Electricity Consumption

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The fact that Bitcoin is considered dirty is driving the construction of cheaper green energy alternatives that would never have been built without the demand from Bitcoin. Besides that, the great demand for these alternative energy sources is driving down the prices of these technologies for everyone. So Bitcoin may not be so "dirty" after all! After all its negative press, Bitcoin may bring us green energy faster and more efficiently than any government could have regulated into existence simply because of the profit motive.

Index estimates that the Bitcoin network consumes approximately 92.7 TWh of electricity annually, about the same as Pakistan. Based on the volume of transactions and mining, Bitcoin's energy usage varies The use of renewable energy is, however, making cryptocurrency mining more sustainable. Regenerative finance is an attempt to combine Web3 technologies like blockchain with climate measures this year, which

November 2022 | Volume 45

FEATURE

Some Say Crypto's Slump May be Lifted by the ETH "Merge" Robert Stone It would be nice to hear some good crypto news these days. It got some just over a month ago. With Ethereum, the most popular crypto platform, the software architecture appears to have been successfully upgraded from a proof-of-work blockchain that it has been running since its inception in 2015 to a

"proof of stake," and more upgrades are coming to polish it off. Crypto's upgrade, dubbed "the merge," is already a watershed moment in its

history. On a Zoom call hosted by the Ethereum Foundation, dozens of Ethereum developers celebrated the first proofof-stake transactions. Vitalik Buterin, Ethereum's founder, told the group that this is the first step in Ethereum's journey to maturity. "From my perspective, the merge symbolizes the difference between the Ethereum of today and the Ethereum

trillions of dollars have been lost, a string of major scams and hacks has occurred, and there has been an increase in regulation over the past year, the move could create new problems.

of tomorrow that we have always wanted."

merge actually working was by no means a foregone conclusion. Cryptocurrency transactions, NFT collections, and DeFi protocols are all

Many crypto fans hope and believe that Crypto can get out of its slump now. In an industry where

However, I am still determining if it will work. Before I tell you why let's look at some of the reasons why crypto supporters celebrate. The

hosted on Ethereum. Changing a blockchain's consensus mechanism is terrifyingly complex, which determines how new transactions are processed. One crypto developer compared it to swapping out the engine of a spacecraft mid-flight. Before the merge, no crypto platform near Ethereum's size attempted such a maneuver. For developers to become confident enough to attempt one, it took years of testing, research, and many delays. Ethereum's opensource platform could have been irreparably damaged if the merger had failed. Despite the possibility of something going wrong, the merge appears to have gone smoothly. Furthermore, the new Ethereum blockchain is more environmentally friendly than the old one, another reason crypto fans are happy with the merger. In the past, Ethereum was secured by an extensive network of high-powered computers that solved cryptographic puzzles against each other, consuming enormous amounts of energy. To protect digital assets, investors must participate in a process called "staking," in which they deposit cryptocurrency coins into a pool and earn rewards. (Contd...)

November 2022 | Volume 45

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Hello, new world.

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cartesi.io

)YD

FEATURE

As well as improving Ethereum's speed and efficiency in the long run, the merger will hugely impact the planet's environment. Industry advocates can use it to make the case that Crypto can be environmentally friendly. Compared to the old Ethereum blockchain, the new one consumes 99.95 percent less energy. That's comparable to the nation of Argentina going off the grid. The third reason this merger is anticipated to be good for Ether, Ethereum's native cryptocurrency, is that many crypto enthusiasts believe it will enhance the value of Ether. Every year, billions of dollars worth of Ether must be destroyed (or "burned") to run the Ethereum blockchain, which is a very good thing for investors. Ethereum's new blockchain will still burn Ether to pay out rewards, but it will not need to create as much new Ether. As a result, Ether's overall supply could decrease, thus increasing its value. A more stable price may also result from miners not needing to sell some of their Ether to cover their electricity bills under the old proof-of-work system. The general feeling of industry leaders is one of caution. After a brutal year in Crypto, Ethereum hopes at least some skeptics will

change their minds now that they've neutralized the largest objection to the cryptocurrency - its environmental toll. Companies experimenting with NFTs and other Ethereum-based technologies will face less backlash from regulators, they believe after Ethereum 2.0 is released. Despite that, I am still determining if the merger will solve Crypto's problems, and it may even introduce some even thornier problems down the road. As a starting point, Ethereum's energy usage is not the biggest obstacle to its adoption by mainstream crypto communities. People will only sometimes avoid Bitcoin now because of its high energy use. Many people who oppose Crypto on principle cite environmental concerns as a reason for their opposition. There are a lot of people these days who are skeptical of Crypto for reasons unrelated to energy. Dogecoin or Luna may have lost a fortune to someone they know. All the stories about hacks and scams have scared them away. Crypto's complexity or lack of obvious uses may intimidate them. Alternatively, they may dislike the idea of a new currency without a government's backing.

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At least in the United States, Crypto is currently threatened by the people in charge of regulating the industry wanting to ban it altogether. According to these regulators, investors are losing money to opaque crypto-lending schemes and stablecoins, Ponzi schemes, and statesponsored ransomware attacks. None of that is addressed by the merge. The fact that Ethereum now uses 99.95 percent less energy might change some politicians' minds about Crypto, but I doubt it will affect the people whose opinions matter most. According to a Wall Street Journal opinion essay on why the crypto industry should be more tightly regulated, Securities and Exchange Commission head, Gary Gensler didn't mention environmental concerns at all. The merge may also stoke crypto community tensions. Due to its proofof-work system, Bitcoin is unlikely to switch to a new consensus mechanism anytime soon, so its energy consumption will likely remain high. Many Bitcoin fans - "maxis" - believe Ethereum's switch to a proof-of-stake algorithm was a calculated PR move intended to make Ethereum look good while disparaging Bitcoin.

Rather than being secured by networks of puzzle-solving computers, Ethereum's new version is secured by investors staking large amounts of Ether. By increasing the power of large firms like Coinbase, Kraken, and Lido and requiring those firms to censor certain transactions, governments could crack down on Ethereum more easily. Brian Armstrong, Coinbase's chief executive, has already said he will shut down the company's Ethereumstaking operations rather than comply with government censorship requests. Additionally, the merger won't bring back the assets lost by investors in failed crypto projects like Luna and Celsius Network or put moneylosing crypto investors back in the black. Undoubtedly, the merge was a technological marvel, a true boon to the environment, and an example of the power of cooperative open-source development. It's great that it happened, and the developers who worked for years to make it work should be congratulated. There needs to be more than a successful Merge to turn around Crypto's fortunes. Only a lot more time and evolution will do that.

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FEATURE

Robert Stone

arner Bros is developing a Web3 version of the Lord of the Rings movie. Besides creating a WB 'Movieverse,' the company plans to adapt other films into multimedia NFTs from its archives. To kick off the “WB Movieverse,” Discovery partnered with Web3 group Eluvio to release The Lord of the Rings: Fellowship of the Ring as an entire NFT set as part of its partnership with Web3 firm Eluvio. Also coinciding with the launch is a somewhat awkwardly titled rerelease of Peter Jackson's 2001 film will be released on Eluvio's branded Content Blockchain soon. The CEO of Eluvio, Michelle Munson, praised Warner Bros. for its commitment to NFT projects and said the partnership is a promising

MOVI

Metaverse move over; here comes the NFT

‘MOVIEVERSE’ from Warner Bros.

November 2022 | Volume 45

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utility,” Jessica Schell, Warner Bros. Home Entertainment's executive vice president and general manager told CoinDesk. Despite the rise in Web3native entertainment in projects like Mila Kunis' "The Gimmicks" and Kevin Smith's new film "Secret Network," Warner Bros' latest initiative may help re-engage fans with Web3 technology. The entertainment company also released a physical and digital comic book collection in partnership with pop culture retailer Funko.

IEVERSE step toward bringing NFTs to an even broader audience. A living media experience that will surely delight and surprise fans of The Lord of the Rings can now be acquired, traded, and participated in," said Munson. "It is truly designed for the mass consumer, not just the Web3 enthusiast, thus making it so remarkable and engaging." Meanwhile, the PR machine for Space Jam:

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A New Legacy released a new batch of digital collectibles on the same day we learned Fortnite was adding a LeBron James skin. NFTs, however, were used instead of a gloriously aging 90s-era website. A New Legacy follows Michael Jordan's 1996 movie by transporting LeBron James into a digital world full of cartoons and other Warner Bros. properties, so the marketing match makes sense. Tokens

aren't fungible, so instead of slipping toys into fast food kids' meals, there's a hope that the familyfriendly movie will spark interest in non-fungible tokens. Using this initiative could potentially lead to new ways of distributing movies directly to fans, engaging fans through communities and tradable marketplaces, and demonstrating Web3 and NFTs' practical

The physical copy of The Fellowship of the Ring and all Lord of the Rings films can already be purchased and permanently owned. As a first step toward becoming a part of WB's Movieverse, the studio is counting on a handful of NFT-related features to convince people to buy the "Mystery" or "Epic" editions of the movie. "We truly designed it for mass consumers, not just Web3 enthusiasts, which is why it feels so remarkable and engaging," says Michelle Munson, CEO and co-founder of Eluvio. Three interactive navigation menus are available with the $30 Mystery Edition, based

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FEATURE

on The Shire, Rivendell, or the Mines of Moria, along with a digital version of The Fellowship of the Ring. Additionally, there are image galleries related to each location, eight hours of bonus content, and various “hidden collectible” items. The $100 Epic Edition includes menus, images from all three locations, and various other pictures not found in the cheaper option. AR collectibles will also be available for users to view on their phones after discovering them scattered throughout the movie NFT, which can only

be viewed in a browser. Eluvio's spokesperson said Warner Bros. would release more of its films as NFTs in the future. Another use case for the Movieverse could be a marketplace where users can buy and sell these bundles among themselves. According

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to Eluvio, Warner Bros. could consider minting each individual asset (for example, a single picture) included in the movie NFTs so they could become available separately someday. Movieverse won't include any of that functionality at launch, as expected.

Warner Bros. will likely have a hard time selling people on what sounds like a gussied-up DVD selection menu masquerading as a collectible, so it's safe to question whether it will ever succeed. Check it out here and see what you think!

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FEATURE

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November 2022 | Volume 45

EDITORIAL

The So-Called Evils of Intensive Energy Use to Fuel the Crypto Revolution

Robert Stone

any of us are truly unable to see, conceive or understand the seriousness of issues such as global warming, melting glaciers, and other challenges facing our planet. Sure there are a number of us who can though we are only about half of all of us. Yet, still, they are real issues, and we all contribute

daily due to how we live our lives and the choices we make. Many of our actions affect the planet, including investing in cryptocurrencies. Some cryptocurrencies require a lot of energy, specialized equipment, and resources to operate. People didn't wonder whether crypto was environmentally friendly initially, but unfortunately, in a lot of cases, it is not.

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We must keep in mind the environmental impacts of how we have already been doing things. Consuming is how our society is structured, with an effective emphasis on using every available natural resource without considering the effects we may bring forth to the world. The energy and electricity needed to create and maintain fiat currency, our current banking system, and our way of life are

phenomenal and aren't much discussed by those who demonize crypto for its energy use. That is an important aspect to consider when blaming Bitcoin for using too much energy. How much energy does it take to mine gold? Being a former gold miner, I can tell you all about it. If there may be 7 ounces of gold in a rich ton of ore (2000 pounds), you are truly lucky, then you have to take it out, and that's after

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EDITORIAL

you went to all the trouble to drag that ton of ore out of the mine with all those huge trucks created out of energy and metal that also had to be mined that use all the fuel they use. Ok, so we have fiat now, and that's not like gold mining. Well, we have to cut down the trees, make the paper, and do all that goes into making the printed money itself. That includes a lot of men and machinery made out of energy to do the job, including building all the roads into the forest to cut the trees down and all the machinery it that takes from there. Then we have all the banks in the world and all the people that work there going to work in their cars every day to a climate-controlled building and all the customers going the bank in all of their cars created out of energy using the energy they need to run. The armored cars moving the piles of money to and fro, turning the wheels of Babylon every day. I could go an awful lot further and give you every step along the way that energy is used, yet I am sure you are starting to get the picture. Sure the annual energy consumption of Bitcoin is comparable to that of some entire nations, like Argentina. According to some statistics, Bitcoin alone could contribute to

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a 2-degree Celsius rise in global temperatures in 30 years by emitting 36.95 megatons of carbon dioxide (CO2) annually, comparable to New Zealand. All true, but compare it to what I spoke about above and think a bit more broadly. You will understand that the amount of energy used with cryptocurrencies is used as a ruse by vested interest against crypto to lead the public astray when they won't tell you the whole story and include all the facts involved. It is a purposeful detour to promote their true intent, which is to cast a cloud over reality. Why would they do such a thing? Because crypto is intruding on the status quo of billionaires and their interests. The impact of crypto on the environment Using cryptocurrency assets, mining, and other related activities can have serious environmental consequences. Numerous studies and statistics have shown crypto mining to influence global warming. Whether crypto-related or not, energy-intensive blockchain processes can produce excess carbon if they use nonrenewable energy. Energy is also consumed in the production of NFTs.

Global electricity generation for the cryptoassets with the largest market capitalizations resulted in a combined form of tons of carbon dioxide per year, which means 1% of the world's annual electricity consumption or about 0.3% of the world's annual greenhouse gas emissions. According to NBC, a study published in the 2019 issue of the scientific journal Joule determined that "the annual carbon dioxide emissions from Bitcoin production are estimated to range between 22 and 22.9 million metric tons." That equals the emissions from 2.7 billion homes, or Jordan and Sri Lanka combined. Most nations allow Bitcoin mining, but some have effectively banned the activity. For example, one of the biggest economies in the world, China, has banned Bitcoin mining. Additionally, the national government outlawed all cryptocurrency transactions. The demand for cryptocurrency mining will rise as the adoption of digital money expands globally. Bitcoin mining companies are always looking for the cheapest energy sources out of necessity. Recently Bitcoin Mining has

spurred the solar industry with massive investments to quench the need of Mining companies. This, in turn, is driving down the price of solar technology, making it easier for people and businesses to afford to install solar systems themselves. By enabling the grid to manage more significant percentages of renewable loads, Bitcoin mining can hasten the transition to a low-carbon future while generating green energy jobs and assisting in the fight against climate change. Rather than the evil, some would like to portray demonizing the crypto revolution. Bitcoin may actually be contributing to saving the world and all life on it. Including us! Conclusions It is crucial to consider the well-being of our planet because there is no point in having money if there is nowhere to enjoy it. Inform yourself first about the investments you want to make, the blockchain you use, and its long-term impact on the environment. Remember, political interests are out there swaying our opinions without telling us the full story. It is up to us to learn about things from a broad perspective that brings together all the facts. Do your own due diligence and invest wisely!

October 2022 | Volume 44

BEGINNERS

guide

How to Choose the Best Crypto Trading Bot

Robert Stone

ant to know how to find the best crypto trading bot? I have been using trading bots since 2011, when I first entered the Crypto market. Crypto trading bots buy and sell crypto on your behalf unless you have a bot that sends you alerts to buy or sell instead. I use one of those. A crypto trading bot analyzes the live crypto market using technical indicators such as moving averages and trends. Based on its analysis, it provides "buy and sell" signals. It is vital to keep in mind, however, that crypto trading bots are not 100% accurate. You will statistically lose part of the time. Still, because of the regularity of the bot's algorithms, people regularly succeed and make a long-term living using them after they have educated themselves and applied principles of correct use. It's all in winning more than you lose.

November 2022 | Volume 45

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Propper risk management is one of the most important parts of trading successfully. As with independent manual trading techniques, cryptocurrency trading bots have an inherent risk factor. In the cryptocurrency market, bots can sometimes produce false signals because they are very volatile. The bot might calculate a downward trend when the market moves upward. You can determine you will win a certain amount of the time and adjust your investments accordingly. As always, stay within your means. What is the Best Crypto Trading Bot? Is there anything I should look for when choosing a bot? Without a doubt, crypto trading bots can simplify your trading process. I use one regularly myself. It would help if you found what bot would be best for you by educating yourself about what they are and how they work. Mine is one of many that work. A friend is a software developer, and he made mine for me according to my specifications and personal needs and then shared it with me on Trading View. A wide variety of bots are available on the market. Several bots follow long-term strategies and follow trends, while some follow pulse strategies which are much more aggressive. Beginners, however, may need help determining which bot to use. Here are some tips for choosing the best crypto trading bot to assist you. Invest some time in market research. Research the market and monitor the changes before choosing your first crypto trading bot. You will be able to determine the overall market sentiment this way. Additionally, I recommend reading about recent crypto conferences or events and learning which coins perform well. However, you may also be interested to know that profitable trading strategies are independent of whether the market is good or bad.

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What is the current range of the market? Or are there frequent lows and highs accompanied by significant volatility? It is important to note that the bot you choose will change depending on the strategy you wish to use. There is no better way to determine that than to look at the current market conditions and analyze them. One tool that may help you is a software called Trading View, and you can get it for free if you like, though there are paid versions if you need to upgrade to gain all the bells and whistles you may want to use in your trading experience. Using a crypto trading bot effectively requires basic knowledge of cryptocurrencies and technical analysis. Check the Credibility You cannot overstate the importance of researching the bot you

want to use. Anyone can create and publish a trading bot on the internet, so safety and trust are crucial. However, it is important to note that these bots usually access your exchange account and purchase or sell your crypto on your behalf. Hence, it would be best if you looked into the reputation of the bot in the industry. You can create your own trading bot if you have the necessary skills. It just takes a bit of education and time. Anyone can do it if they can focus on a task. Trading View will allow you to create your own bots if you like. You may also share them with others. Make sure your bot supports the exchanges you want to use. Generally, cryptocurrency trading bots are only compatible with some

November 2022 | Volume 45

BEGINNERS

guide

exchanges. It is, therefore, important to doublecheck whether a bot is compatible with the exchange you prefer before choosing it. A solid bot will support multiple cryptocurrency exchanges. These features are characteristic of premium and advanced bots, however. You get what you pay for.

months, it has a chance of failing in the coming six months. The bot's current strategy may no longer be relevant due to global market changes. Instead of relying on past performance, choose a trading bot best suited to the current market.

You should know about three common mistakes before you begin.

In some cases, trading bots will close and open positions in a matter of seconds or microseconds. The key here is to be patient. It is common for beginners to switch bots too quickly without waiting for market conditions to improve so their bots will perform well. An uptrending market, where higher highs and higher lows are being made, will be neutral for a short-only bot. The bot will begin to perform as soon

1) Relying on the Past Performance Being successful as a crypto trader is determined by something other than past performance. The reason for that is that trends and market conditions are constantly changing. If a bot follows the same strategy as in the past six

2) Impatience and recklessness

This is an image of my own Trafing View account with buy and sell signals from the integrated Trading Bot. This is the easy way to trade because you don't have to watch it constantly. Trading View will send an alert to your phone when it is time to buy or sell so you can decide whether to do so. as prices fall and a market rebound occurs but not while continuously falling or staying level. 3) Choosing Risky Coins to Start with. Alt-coins are much riskier and more volatile than established cryptocurrencies such as Ethereum and Bitcoin. Choosing coins with a

higher return potential is tempting, of course. Stick with Ethereum and Bitcoin until you get familiar with the cryptocurrency market and trading. Then, you will have the proper foundation to advance your interests in new trading directions, like learning how to trade and make a profit despite market conditions. Yes, there are bots for that, too, and I may write about them one day because that is what I specialize in and like to use myself. Final thoughts Choosing your first cryptocurrency trading bot can be challenging. Nevertheless, now you know what beginners typically do wrong when choosing trading bots and how to select the best one. By following these tips, you should be able to make it easier for yourself.

November 2022 | Volume 45

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NEWS &

UPDATES

“The Sims Of Web3” CRYPTOPOLIS

ONLINE SOCIAL

NFT GAME Sign up for the whitelist today for a chance to win a Rolex Datejust 41, approx. value $15.000 USD

Initial Room Offering First And Only Real Estate Sale

Different Rarities “1380 Rooms For Sale”

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November 2022 | Volume 45

NEWS &

UPDATES

John Hickenlooper Criticizes the

Approach to Crypto from the SEC of the SEC. In a letter to SEC Chief Gensler published by Punchbowl News, Hickenlooper said a lack of a coordinated regulatory framework leads to "uneven enforcement" and complicates investor protection.

en. John Hickenlooper (D-Colo.) has become one of the first Democratic senators to criticize Gary Gensler's slow approach to crypto on behalf

Meanwhile, he said, existing securities regulation does not apply cleanly, as you have repeatedly pointed out. "Inadvertently, applying the old rules to the new market could make financial services more expensive, less accessible, and make the SEC's disclosure regime ineffective for the American people." Some digital assets should be clarified by the

SEC as securities, how they should be issued and listed as securities, what disclosures should be provided to investors, how trading platforms should be registered, and how trading and custody should be done, according to Hickenlooper. Politicians have previously criticized Gensler and the SEC's approach to crypto, but generally from the other side. Several crypto companies, including Celsius Network, have collapsed due to a lack of regulatory action, and Sen. Pat Toomey (R-Pa.) has attacked the regulator for its inaction. —Crypto Weekly

Mark Zuckerberg: "People are going to look back in decades realizing the Meta-project made history."

few decades from now, people will look back at the Metaverse's multibillion dollar investment and discuss its significance, according to Meta CEO Mark Zuckerberg. Over a year ago, Zuckerberg rebranded Facebook to Meta and announced that the company would focus its investments on the Metaverse. The company has faced backlash from advertisers as the economy slows. "A lot of people may disagree with this investment, but I think it

would be a mistake not to focus on any of these areas which I think are going to be fundamentally important to the future," he said on a quarterly earnings call with investors and reporters. "I think it's some of the most historical work we're doing. In decades to come, people will remember how important the work was here," he added. Meta's 'Reality Labs' metaverse investment has reported losses larger than the GDP of many small countries. From the

November 2022 | Volume 45

beginning of last year until the third quarter, Reality Labs had lost just short of $20 billion. At least one prominent investor has questioned Zuckerberg's leadership of Meta due to the massive investment. The CEO of Altimeter Capital, Brad Gerstner, sent an open letter to Zuckerberg and Meta's board of directors on Monday urging them to focus on their core,

profit-generating businesses instead of Reality Labs. For investors who feel uncomfortable, Zuckerberg said: "I think those who are patient and invest with us will be rewarded." —Crypto Weekly

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CLICK HERE

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www.estatex.eu www.estatex.eu

November 2022 | Volume 45

HIDDEN gems PROJECT 1

Developed on Secret

holders the option to make their transactions

Shade Protocol (SHD) SILK

Protocol consists of a

and auditable privacy, SILK is a 4th generation

Network, Shade

network of privacy-

preserving Dapps. Due to the high speed of the Secret Network,

Shade has not only created a product that is

shadeprotocol

privacy-friendly, scalable, and interoperable, but is also very easy to use.

Despite their inherent security, traditional

stablecoins, such as those pegged to gold

ShadeProtocol

Based on the Secret Network and SNIP20

or asset, but can react to global trends as

they change. With Shade Protocol, everything will be under one umbrella, including a decentralized exchange.

use cryptocurrencies, and more nations adopt at the same time the world's population

becomes more familiar with cryptocurrency, stablecoins will remain a major topic of

discussion. The answer to the question of what a stablecoin should be, can be found in SILK.

A social game

and social interaction. In Cryptopolis your NFT

collect, earn, win,

to the top of the tower. Make real money with

where you can

Cryptopolis ($CPO)

and display your

NFTs while playing and socializing

with your friends. The vision of

collection and in-game experience get you

the $CPO tokens by winning wager matches

throughout the Tower, buying and selling NFT's, and winning tournaments. The future of NFT gaming is here.

Cryptopolis is to make managing digital assets

Cryptopolis is free-to-play & play-to-earn.

of crypto gaming. Being able to have fun and

back end and an associated cryptocurrency

fun. Cryptopolis strongly believes in the future

make money at the same time is not a utopian dream anymore.

It is here. And Cryptopolis wants to make it the

most fun for any adult to do so. Play-to-earn is the approach we chose because Cryptopolis believes anyone should be able to acquire Cryptopolis NFT's. Cryptopolis merges the

that doesn't adhere to a single fiat currency

cryptocurrencies as a hedge against inflation,

PROJECT 2

CryptopolisGame

globally, Shade Protocol offers a stablecoin

merchant knows far more about you than with

privacy. Using a stablecoin means that the

private and fungible token standard, SILK gives

CryptopolisGame

Since inflation remains a growing concern

As governments consider how to interact and

discriminate against you.

cryptopolisgame

stablecoin.

or fiat, have a major weakness; they lack

a credit card or debit card, allowing them to

Shade_Protocol

private or public. With advanced flexibility

Sims-like mechanics with room decorating

November 2022 | Volume 45

An online social platform with a blockchain

($CPO) - Cryptopolis has a progression system based on acquiring resources, items (as NFTs), and prestige - Where players connect with

each other and perform activities together.

But they also compete with each other for in-

game standing (prestige) and $CPO in various minigames. Cryptopolis is the first gamified social platform whose users can earn real money by playing and trading NFTs.

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HIDDEN gems PROJECT 3

Cookie Sale launched

CookieSale will be bought back into Kodi and

and aims to become

or more Kodi tokens.

in February 2022,

Cookie Sale

one of the biggest

launchpads for tokens

Backed by powerful auditing companies such

sleek design and

Contract Checker, and HashEx developers will

on the BSC. With its

easy-to-use interface, CookieSale looks to be

cookiesale

adaptable and adoptable for developers and a safe environment for investors. CookieSale works side by side with Kodi’s marketing

& advertising agency Pitch. This benefits

developers and holders of Kodi as well. As a

cookiesale

developer, you will be able to use CookieSale

PROJECT 4 Kodi (KODI)

almost anyone’s tastes. As a Kodi holder, a

percentage of the revenue generated through

liquidity locking, anti-bot features, custom

airdrops, visual cues to aid in identifying safer investments, and more.

amongst other launchpads is that

listing. Developers will be able to launch the right way, without the fear of a large sell from the launchpad taking profit.

Kodi’s mission is to create a one-stop-shop

CookieSale launchpad. Cookie Sale will work in

interactive Entertainment Network that will keep

developers to build their brands and launch

IDO platform and provide investors with an

users engaged, informed, and entertained while

unison to become the go-to destinations for their projects With Cookie Sale, you can

launch your project from A to Z. Gone are the days of taking your token supply. Kodi simply charges a flat fee, no strings attached.

Kodi`s vision is to create an ecosystem

So how do you benefit as a holder? Well, if

economic environment for crypto investors to

receive BNB, rewards automatically deposited

participate in and for developers to grow their projects. Kodi is creating an industry-first

Entertainment Network that will become THE place for crypto investors to socialize, have fun, win prizes, and learn about everything

crypto. Is there anything more about Kodi? How do you, as an investor benefit? Kodi

by itself, is an entertainment project. Kodi

plays games. post podcasts, do AMAs, have tournaments, live streams, and play plenty

of music. At Kodi there are two subsidiaries.

"Pitch" being the in-house advertising agency, which is a one-stop shop, all things content creation, both in crypto and fiat. Branding, websites, commercials, you name it Kodi

does it. The Pitch Advertising Agency and

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audited separately. Other key features include

CookieSale will only charge a flat fee for

that will be a driver in promoting a safer

kodi_coin

contracts or create their own and have it

From advertising to zhooshing up your

Clear Vision

kodicoinofficial

be able to choose between three pre-audited

One notable feature that stands out

investing in the crypto space.

kodicoin

as Certik, SpyWolf, Brewlabs, Dessert Finance,

as an “A to Z” platform.

“cookie” there will be something that satisfies

cookiesaleio

then airdropped to holders, holding 10 million

you're, a holder of at least ten million KODI you into your wallet. You also can participate in

Kodi`s weekly games where you can win, BNB for free. But here's where things get really

exciting. Two percent of every transaction

goes straight into the Kodi treasury contract. The treasury buys back Kodi tokens, creating an increase in price, and stores them in the

treasury. Twenty percent of these tokens are

burnt and 80% gets used to top up the staking pools as needed revenue generated through pitch and cookie sale also gets added to

the treasury contract. This creates the everincreasing price floor, whilst also removing tokens from circulation. Go say hi on their telegram community, or check out their website at Kodicoin.com.

November 2022 | Volume 45

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1st WomenLed Blockchain Educational Summit Coming Nov 30- Dec 1 in Miami BOK Productions founders Kimberli Bruce and Keri Kilty are hosting a world-first, exclusively women-led event for Web3 tech — Web3 Summits. Taking place at the Miami Airport & Convention Center, Miami Dade County, from Nov 30 through Dec 1, 2022. This educational program will present a diverse program of speakers to the Miami-Dade community. The conference provides business owners, entrepreneurs, educators, and students with a solid foundation for understanding emerging technologies referred to as Web3. This conference will discuss decentralization, blockchain networks, blockchain features, tokenization, token economies, metaverses, and AR and VR applications.

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November 2022 | Volume 45

echnology adoption and awareness is the goal of the event. There will be an educational forum and a safe space to build relationships and collaborate with meaningful, lasting relationships. The conference is open to community members interested in learning more about emerging technologies. The program combines educational workshops, panel discussions, and lecturing keynote speakers. We aim to provide beginners and intermediates with lessons and discussion for Web3 technologies. Participants will be inspired by insightful and highly accomplished leaders of the Web3 revolution. Here is a sampling of educated speakers from

the over 150 attending this two-day conference. — Scarlett Arana of Bit Basel, an organization that is leading global implementation strategy and regulation for blockchain technology, Ben Armstrong (BitBoy) YouTuber, podcaster, crypto enthusiast, and creator of BitBoyCrypto, Sandy Carter, Sr VP of web3 leading domain provider, Unstoppable Domains, Daniel Moncada, Actor, Breaking Bad, Cinematography, CBO MemeNFT Community Marketplace, Yu-Kai Chou, Award-winning author and founder of MetaBlox, and Paula Dezzutti, Local Choice Founder, and CEO. To complement the theme of Miami Art Week, a Fine Art Gallery and Music Stage, including digital and physical art and

music performances of all genres, will be within the vendor exhibits and networking lounge areas providing comfortable seating, refreshments, and bar services. A Web3 pitch contest will be co-hosted with Cryptan Labs. Founders and entrepreneurs working with Web3 technologies are invited to enter the contest. Artists from the local area are strongly encouraged to apply and submit portfolios. International audiences from North America to Asia are attending the conference with the support of worldrenowned media outlets, including Cointelegraph, Crypto Magazine, BlockTides, and Make Me Viral Media. Partners, content creators, exhibitors, press, sponsors, and speakers will have access to a dedicated space for interviews, AMAs, podcasts, or marketing materials during the conference. Contact web3summits.io for more information if you are a journalist or content creator. As part of its mission, the Web3 Summit seeks

November 2022 | Volume 45

to spread its inherent optimism worldwide. The conference founders value and honor every individual's contributions and support. Every person attending the conference is assured that they have become part of a great community and have gained knowledge to become better people in business and life. As part of Art Week, this first-of-its-kind WomenLed Educational Event is working with local Miami communities, choosing a location that's easily accessible and has plenty of parking for residents and visitors. The location is the DoubleTree by Hilton Miami Airport & Convention Center, 711 NW 72nd Ave, Miami, FL 33126. The official website has more information and entry tickets for the event. Student tickets are available, including day passes, 2-day passes, and VIP passes. If you are interested in a brand marketing partnership, don't hesitate to contact Keri or Kimberli directly through the web3summits website. —Crypto Weekly

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WOMEN WEB3 MIAMI

Women Led Web3 Educational Summit | Education and Community Building Collaboration and Networking

Miami Airport Convention Center, Miami, Florida November 30- December 1, 2022 www.cryptoweeklymag.com

November 2022 | Volume 45

of the

week New Crypto Kings Sizzle Reel Rich Maldonado A techno-thriller set in the world of Cryptocurrency spanniong the globe in search of a lost fortune. Jason Lennix, 21 solves a series of cryptic puzzles posted in an online chat room named Satoshi’s treasure hunt. He is rewarded with an unexpected prize – a trip to Reykjavic, Iceland to solve the ultimate puzzle in pursuit of the grand prize. It is there that Jason discovers a device containing billions of dollars worth of bitcoins. Once the device is activated, it sets off a GPS Beacon that is sent out world-wide. This is the fabled ‘Lost Bitcoin wallet’ belonging to founder Satoshi Nakamoto. With some of the most dangerous people in the world closing in on his location and not knowing who to trust, to avert a global financial crisis, Jason must do the impossible – he must find the illusive Satoshi and return the device and access code to him, before it falls into the wrong handsNew Crypto Kings Sizzle Reel

November 2022 | Volume 45