Reasons for Recent Binance FUD (Fear, Uncertainty and Doubt)

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May 14, 2023

FUD stands for Fear, Uncertainty and Doubt. It is a term used to describe negative sentiments or misinformation that can affect the price and popularity of cryptocurrencies. FUD can be spread by various sources, such as media outlets, influencers, competitors, hackers or even governments.

Binance is one of the largest and most popular cryptocurrency exchanges in the world. It offers a variety of services and products, such as spot trading, futures trading, margin trading, staking, lending, saving, mining and more. Binance also has its own native token, BNB, which can be used to pay for fees, participate in token sales and access other benefits on the platform.

However, Binance has also faced a lot of FUDS in recent times. Some of the reasons include:

Regulatory issues: Binance has been under scrutiny by various regulators around the world for its compliance with local laws and regulations.

For example, in June 2021, the UK’s Financial Conduct Authority (FCA) issued a consumer warning against Binance Markets Limited, a subsidiary of Binance Group, saying that it was not authorized to conduct any regulated activity in the UK.

Similarly, in July 2021, Malaysia’s Securities Commission (SC) ordered Binance to cease all operations in the country within 14 days. Other countries that have issued warnings or taken actions against Binance include Japan, Thailand, Germany, Italy and Singapore.

Security breaches: Binance has also suffered from several security incidents that have compromised its users’ funds or data. For example, in May 2019, Binance was hacked and lost 7,000 BTC (worth about $40 million at the time) from its hot wallet.

In August 2019, a hacker claimed to have obtained personal information of over 10,000 Binance users from a third-party vendor and threatened to release it unless he was paid 300 BTC. In November 2020, Binance reported a phishing attack that targeted its users with fake emails and websites.

Competition: Binance faces fierce competition from other cryptocurrency exchanges that offer similar or better services and products. Some of these competitors include Coinbase, Kraken, Huobi, OKEx and Bitfinex.

These exchanges may have advantages over Binance in terms of market share, reputation, regulation, security or innovation. For example, Coinbase is one of the most regulated and trusted exchanges in the US market and has recently gone public on Nasdaq.

Kraken is also pursuing a public listing and has obtained a banking charter in Wyoming. Huobi has a strong presence in China and Asia and has launched its own blockchain platform called Huobi Chain.

Community backlash: Binance has also faced criticism from some members of the cryptocurrency community for its actions or policies that may be seen as unethical or unfair. For example, in April 2020, Binance delisted Bitcoin SV (BSV), a controversial fork of Bitcoin Cash (BCH), after its founder Craig Wright threatened to sue anyone who disputed his claim of being Satoshi Nakamoto, the creator of Bitcoin.

In July 2020, Binance acquired CoinMarketCap (CMC), one of the most popular websites for tracking cryptocurrency prices and data, raising concerns about potential conflicts of interest and manipulation of rankings. In August 2020, Binance launched its own blockchain platform called Binance Smart Chain (BSC), which some critics accused of being centralized and copying Ethereum’s features.

These are some of the reasons why there fud on Binance. However, despite the FUD, Binance remains one of the most influential and innovative players in the cryptocurrency industry. It has also taken steps to address some of the issues it faces and improve its services and products.

For example, it has launched initiatives such as Binance Charity Foundation (BCF), Binance Academy (BA), Binance Research (BR) and Binance Labs (BL) to support social causes, education, research and innovation in the crypto space. It has also partnered with various organizations and institutions such as TravelbyBit (TBB), Swipe (SXP), WazirX (WRX) and Crypto.com (CRO) to expand its ecosystem and reach new markets.

Binance Exit Its Canadian Frontier

As a result of stiff crypto regulations in Canada, Binance has announced a closure to its operations in the country. Binance wrote on Twitter late Friday night; “We would like to thank those regulators who worked with us collaboratively to address the needs of Canadian users.”

Albeit, Canada is a small market, it held sentimental value for us as the home country of our founder. We had high hopes for the rest of the Canadian blockchain industry.

Unfortunately, new guidance related to stablecoins, and investor limits provided to crypto exchanges makes the Canada market no longer tenable for Binance at this time. We put off this decision as long as we could to explore other reasonable avenues to protect our Canadian users, but it has become apparent that there are none.

Our remaining Canadian users are receiving an email with comprehensive information on how this will impact their accounts going forward. While we do not agree with the new guidance, we hope to continue to engage with Canadian regulators aimed at a thoughtful, comprehensive regulatory framework. We are confident that we will someday return to the market when Canadian users once again have the freedom to access a broader suite of digital assets.

Use these 4 things while betting on sports online

By

TI Partners

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May 14, 2023

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Online sports betting has many fans worldwide because people are interested in wagering on different things. Some of the world’s leading gambling websites are available in many countries, allowing people to use tons of features while punting.

Many betting platforms do not look good on paper, but after you start testing them, you realize they have a lot to offer. For example, people who skim through the 22Bet Review will notice this is one of the world’s most prestigious and popular betting operators. Many sites focus only on the design, but some of the best know that this is just one of the important things they must provide.

Only some people who like sports betting know how to make the most of it because people do not use all of the features that a given brand offers. That said, this article will show them what to expect.

Use the free bets if they are available

Many of the world’s premier sports betting operators have many different promotions that they give to those who sign up and people who’ve been using a given platform for many years. There are different kinds of propositions to choose from, but the free bets are the most popular oen, and for a reason.

The gambling brands that have free bets allow people to wager on something without making a deposit. Usually, those rewards have a substantial rollover requirement attached to them, but since users can wager for free, it attracts a lot of fans.

Most free bets are universal, meaning gambling fans can use them for all sorts of sports. However, there are some exceptions, so you need to know the rules before betting.

Live streaming is your friend

If you’re interested in online sports betting, you probably want to know more about live betting. Although some of you may not find it interesting, live betting attracts many people because of the additional opportunities it offers. However, some people are yet to learn how to use it.

When talking about live betting, almost all sites with this feature also add live streaming. Although only available for a couple of events, punters interested in watching live sports matches as they unfold have access to many things. Sadly, only a few people use it because others think it wastes time.

Live streaming can be beneficial in many cases, but only if you want to bet on a specific event. With that said, you should remember that some bookies may require you to have a positive balance in your account before using this option.

The forum

Although not many online gambling operators have forums and other kinds of things where people can share their experiences, most brands already added this option. Sadly, only a few people take advantage of it because others believe it is not worth visiting.

When you go to a gambling forum focused on sports betting, you can learn a lot about it. Some people share their experiences, but you can also find different tactics and tips, and tricks that may come in handy. In some cases, you can even learn about special features and markets that others are not aware of.

Despite the many responsible gambling features, those places have a lot of gambling addicts that will try to convince you something is worth using. Needless to say, you need to be careful and only use something you think will work.

The mobile betting services

In addition to everything we said, some of the world’s premier sports betting websites also have high-quality mobile betting services. They allow people to wager on the sport they like, use bonuses, and test most of the features. A lot of sports bettors have noticed those things are worth using, which is why they are only focusing on betting via mobile phones.

Unsurprisingly, many punters are yet to test the mobile app or website of the bookie they’re using. It is probably just a matter of time before mobile sports betting becomes the go-to form for people worldwide.

Tekedia Mini-MBA Edition 10 Graduation Meetups [photos]

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Ndubuisi Ekekwe

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May 14, 2023

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The 10th edition of Tekedia Mini-MBA concluded on May 6, 2023. Today, across cities and communities, our learners independently organized physical graduation meetups. As the videos, photos, etc start arriving, I want to congratulate all our Learners because you are all #ready2lead in many dimensions of the market system.

Tekedia Mini-MBA – the winner of Velocity Mhagic $60,000 award for “innovation in entrepreneurial business education” – is awesome. This is a business knowledge temple and we have the datasheets on how to thrive in markets.

Register and join the June edition here

Speech by Ndubuisi Ekekwe During Lagos Tekedia Mini-MBA Graduation Meetup (May 2023)

What You Need to Know About Bitcoin Halving

By

Paul Ugbede Godwin

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May 14, 2023

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Bitcoin halving is a phenomenon that occurs every four years on the Bitcoin network. It is a process that reduces the amount of new bitcoins created and distributed to miners for each block they mine. The halving is designed to control the inflation rate of Bitcoin and ensure its scarcity and value.

The Bitcoin network operates on a consensus mechanism called proof-of-work (PoW), which requires miners to use their computing power to solve complex mathematical problems and validate transactions. The first miner who solves the problem gets to add a new block to the blockchain and receive a reward in bitcoins. The reward serves as an incentive for miners to secure the network and process transactions.

The reward started at 50 bitcoins per block when Bitcoin was launched in 2009. Since then, it has been halved twice: once in 2012 (to 25 bitcoins), and once in 2016 (to 12.5 bitcoins). The third and most recent halving occurred on May 11, 2020, reducing the reward to 6.25 bitcoins per block.

The next halving is expected to happen in April or May 2024, when the reward will drop to 3.125 bitcoins per block. This will continue until the total number of bitcoins reaches 21 million, which is the maximum supply limit set by Bitcoin’s creator, Satoshi Nakamoto. According to current estimates, this will happen around the year 2140.

Why Does Bitcoin Halving Matter

Bitcoin halving has significant implications for the Bitcoin network and its users. Here are some of the main effects of halving:

It affects the profitability of mining. As the reward decreases, so does the revenue for miners. This means that some miners may stop mining if their costs (such as electricity and hardware) exceed their income. This could reduce the hash rate (the total computing power) of the network and make it less secure and efficient. However, this could also be balanced by an increase in the price of Bitcoin, which would make mining more profitable again.

It affects the supply and demand of Bitcoin. As the reward decreases, so does the rate of new bitcoins entering circulation. This creates a supply shock that could drive up the price of Bitcoin if the demand remains high or increases. This is based on the economic principle of scarcity, which states that the less available something is, the more valuable it becomes. However, this also depends on other factors, such as market sentiment, regulation, innovation, and competition.

It affects the adoption and innovation of Bitcoin. As the reward decreases, so does the inflation rate of Bitcoin. This means that Bitcoin becomes more like a deflationary currency, which encourages saving rather than spending. This could increase the demand for Bitcoin as a store of value, especially in times of economic uncertainty and currency devaluation. However, this could also discourage spending and investing in Bitcoin-related projects and services, which could hamper its growth and innovation.

How to Prepare for Bitcoin Halving

Bitcoin halving is an inevitable and predictable event that has been coded into the protocol since its inception. Therefore, it should not come as a surprise to anyone who is involved in or interested in Bitcoin. However, it is still important to be aware of its implications and potential outcomes.

Here are some tips on how to prepare for Bitcoin halving:

Do your own research. Don’t rely on hearsay or hype to make your decisions about Bitcoin. Read up on the history and mechanics of halving and learn from past experiences and data. Understand the risks and opportunities involved and form your own opinions and expectations.

Diversify your portfolio. Don’t put all your eggs in one basket. While Bitcoin may be the most dominant and popular cryptocurrency, it is not the only one. There are thousands of other cryptocurrencies that have different features, functions, and goals. Some of them may even benefit from Bitcoin’s halving, such as those that use alternative consensus mechanisms or offer complementary services. Explore and invest in a variety of crypto assets that suit your risk appetite and objectives.

Be patient and cautious. Don’t expect immediate or dramatic results from halving. While halving may have a long-term impact on Bitcoin’s price and adoption, it may not have a noticeable effect in the short term. The market may have already priced in the halving, or it may react differently than expected due to other factors. Be prepared for volatility.

Netflix to Slash Spending by $300 Million This Year, in Cost-Cutting Measures

By

Ojukwu Emmanuel

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May 14, 2023

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Streaming media company Netflix has revealed plans to slash spending by $300 million this year, as part of a cost-cutting measure.

Reports reveal that the streaming giant is looking to cut costs, as it plans to crack down on password sharing broadly in the U.S. The company has further urged its workforce to be cautious with spending, including in relation to hiring, while noting that there would not be a hiring freeze or additional layoffs.

In the company’s First Quarter Q1 report for 2023, Netflix beat estimates but reported a lighter-than-expected forecast last month. The company brought in $8.16 billion revenue during Q1 2023, while Wall Street expected a slightly higher figure of $8.18 billion. However, the firm reported higher-than-expected earnings of $2.88 per share in Q1, while analysts anticipated $2.85 per share.

Netflix also started the year by adding 1.75 million subscribers, bringing up the total number of global subscribers to 232.5 million. The subscriber growth represented a 4.9 percent year-over-year increase compared to the disastrous first quarter of 2022,

The company saw modest growth in the U.S./Canada region, adding 100,000 subscribers during the quarter, while the Latin America region underperformed for Netflix as it lost 450,000 subscribers during the first quarter.

As Netflix turns its focus to revenue numbers for its quarterly earnings, the company is forging ahead with its account-sharing crackdown, which rolled out in markets like Canada, New Zealand, Portugal, and Spain earlier this year. The company will also crackdown on passwords in the U.S., beginning in the second quarter, Netflix said in its letter to shareholders.

With its recent tests and pilot programs, Netflix has revealed how it will crack down on password sharers–namely, a combination of asking users to verify their accounts plus options for account holders to pay extra to share their accounts with others outside the household.

Netflix says it will use a combination of IP addresses, device IDs, and account activity from devices signed into the Netflix account to determine if an account is being used in the primary account holder’s household.

Analysts disclose that Netflix may see a $3 billion increase in revenue after the Password Sharing Crackdown. For the past year, Netflix has been adamant about cracking down on password sharing, and over the last few months, it is becoming more and more of a reality.

The company is also continuing to focus on its advertising business and will host its first Upfronts presentation on May 17 at the Paris Theater in New York. The video streaming industry is turning to advertising as inflation and consumer fatigue compound the headwinds facing subscription-based models.