VPFX - Daily News

11/03/2022

*Crypto Brain Drain?*

Polygon Matic Co-founder, Sandeep Nailwal who runs the biggest layer 2 protocol for Ethereum says the brain drain in India is massive and it's absolutely crazy.

He said this especially in the context of Cryptocurrencies where the Indian talent is being sucked into the international market just because it is unfavourable in India to be working around Crypto.

The government still hasn't made itself clear that where do they stand in terms of Cryptocurrencies and Blockchain, this confusion has reduced the confidence of Indian talent and they are exiting the country.

Majorly going to Dubai, UAE, as they have expressed their willingness to be Crypto friendly and allow businesses to thrive there.

Sandeep Nailwal also said the one's who want to work in India can't opt for it as it's too big of a risk to operate business in an unstable environment.

10/03/2022

*Bitcoin Yet Again Below 40,000 USD*

The US did fear Russia exploiting cryptocurrencies to their favor to gain an upper hand in spite of having sanctions imposed on the Russians.

Hence we saw the US President, Joe Biden is taking an executive decision on cryptocurrencies and taking a serious approach on cryptocurrencies.

This news is making headlines and this was a moment of euphoria for the people surrounding us.

Because of the executive orders, this means the government is finally taking Crypto seriously and they too can see the potential.

After the executive orders, it will be interesting to see how leniently we've been judged by her. Crypto Adoption seems to be underway and we're approaching fast.

09/03/2022

*US Prez's Crypto Fear*

Crypto has helped the Ukrainians greatly in the time of crisis by providing donations and much needed aid,

On the other hand Crypto is also playing into the hands of Russia to carry forward their transactions,

From the west the word is that the US President, Joe Biden has issued executive orders on cryptocurrencies.

The move was taken after the US accounted the fear could use cryptocurrencies to escape the sanction which are being imposed.

The decision was consulted by the lawmakers and administration where even they expressed the concern of sanctions going to vain against the Russian Oligarchs and oil industry who come under the sanctions.

07/03/2022

*Tether Power*

It's no news that cryptocurrencies like Bitcoin, Ethereum, Dogecoin, etc have been on a radical swing,

The Ukraine and Russian war has escalated more than what it was expected and the world is scared, so are the market

Money is flowing out of volatile assets and at prime point lies cryptocurrencies.

But the stable coins Tether and USD Coin are up when the market is down, these coins are essentially backed by the USD but has a Blockchain platform.

It is expected that investors might start moving into Tether until the dust settles.

04/03/2022

*A Speed Bump for Russian Transaction*

When Ukraine and it's allies were imposing sanctions on Russia, Ukraine urged the crypto exchanges to ban Russian activities.

Anyhow these requests were shot down by the major Crypto exchanges like Binance, Kraken and Coinbase.

This was requested because Ukraine wanted to cripple Russian transactions from the Cryptocurrency end too after the world cut off Russia from SWIFT.

But now after deliberations the exchanges have deci ded that they'll be banning transactions from cards from the Russian sanctioned banks.

02/03/2022

No Sanctions on Russia For Crypto

Ukraine and the world is trying to back Russia into a corner that everyone knows about, there have been plenty of sanctions imposed on Russia,

We are currently seeing major disruption in the natural gas segment as Russia is one of the major exporters of natural gas and most of the European Union depends on it,

Regardless of that, the world together took a decision to cut off Russia from the world by blocking them from the SWIFT network.

Since that has happened many believe Russia will rely on cryptocurrencies to maintain their transactions. Ukraine and other countries had asked the Cryptocurrency exchange platforms to ban Russian transactions.

But that request was turned down by major crypto exchanges like Binance, Kraken and Coinbase, but they assured that they will screen users and block anyone for whom the sanctions apply.

02/03/2022

No Sanctions on Russia For Crypto

01/03/2022

*Cryptos Up By 15%*

Global crisis situation isn't seeming to calm down and we still have a war going on, despite all that we've got the crypto market surging up.

Today crypto investors witnessed a 13% surge in Bitcoin and other cryptocurrencies like Ethereum, Shiba Inu have also ascended by 15%.

Within hours the Crypto market gained by a whopping 200 Billion Dollars as the Russian Currency Ruble fell by 30% against the US Dollar.

The major reason for this climb in cryptos is because of the increasing morale in the investors, we are seeing plenty of donations going to Ukraine in crypto.

The investors are also seeing the intensity of the war slowing down and with all the positive narrative around crypto on how it can help the one's stuck in war has also helped.

01/03/2022

28/02/2022

*Donations in Crypto*

As the Ukraine Russia war is further extending and there seems to be no position of negotiations happening, Ukraine and it's people are in pickle.

Most of the Ukrainian resources are being directed towards war and fend off the Russians,

To support this cause and movement, people from across the globe have been donating to Ukraine via Crypto.

Till now Ukraine has raised over 10 Million Dollars which will be directed towards food, water and shelter.

24/02/2022

Guidelines for crypto advertisements

The Advertising Stands Council of India (ASCI) have been working on making a framework around Crypto and how it's advertising should be regulated, these new rules are going to be applicable from April 1st.

The ASCI has said they have said out these rules and guidelines after consulting stakeholders in digital assets and the government.

From now on all digital assets, ads are required to carry a message saying, “Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions”

And the guidelines also say they cannot use the word currency or securities while running the ads.

These are some positive steps taken for the safe and sound adoption of crypto in India

18/02/2022

Cryptos Rally Up

The Russia Ukraine geopolitical issue had driven down the global markets causing fear and uncertainty,

However word has come that Russia has withdrawn a few of their troops from the Ukrainian border,

This news was a ray of sunshine and hope that there probably might not be any drastic de-escalation that could cause a war.

Following this news global markets opened up in green and crypto market was also rejoiced,

All major cryptocurrencies including Bitcoin, Ethereum, Dogecoin, Avalanche, etc rallied up more than 10%

18/02/2022

India's Crypto Dilemma

India introduced tax on Crypto but then later, India's finance minister said that crypto is not legal yet and they are also not planning on banning it, putting all the Crypto investors in a state doubt,

Now RBI's deputy governor expressed banning crypto is the best choice open for India, this statement further put Crypto investors in doubt. Are RBI and the government not on the same page with respect to Crypto?

Then yet again the finance minister clarified saying “Whatever the government does we consult and have discussions with the Reserve Bank of India and therefore we take calls. So, if we were to tax 30% and then also go and discuss GST and everything else I would be tying RBI’s hands if I hadn’t even talked with them…There is a level of partnering with each other that is happening,"

Basically telling RBI and the government are on the same page and working together, but the statements released and not legally acknowledging crypto has put investors in a tough position.

Crypto investors in India are in a pickle, without any clarity right now.

15/02/2022

Russia at Spotlight Again

Following the international news we seem to stumble upon Russia everywhere, be it legalizing and regulating crypto or crude oil prices shooting up or even the stock market in India tumbling down.

Yes, the Sensex fell by a whopping 1,747 points and the Nifty closed below 16,900 points. This fall has been the worst among all in the last 10 months.

The major reason for this fall was the geopolitical issue going on between Russia and Ukraine,

This geopolitical issue had also forced the crude oil prices to skyrocket to levels which could be hard for recovering economies,

The hawkish stance of the US Fed for increasing the US interest rates helped the markets to tumble more.

14/02/2022

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13/02/2022

3.6 Billion Dollars in Bitcoin Seized

The news is out that the US government has seized 3.6 Billion Dollars worth of Bitcoin, which was tied to 2016 hack of crypto exchange Bitfinex in 2016

The two individuals involved in this crypto hack were Ilya Lichtenstein and Heather Morgan, they were arrested in New York and charged with conspiracy to commit money laundering and conspiracy to defraud.

Amidst all this Bitfinex has issued a statement saying they will engage in conversations with the US government and department of justice to rightfully acquire the stolen Bitcoins back.

Even though Crypto and Blockchain revolves around the gray area of regulatory affairs and jurisdiction, there has been efforts towards bringing order and minimising the damage and crimes. Overall, a positive sign for crypto Adoption.

10/02/2022

People Are Buying The Dip

The US markets have been in a stressed situation since the beginning of the year, the markets have underperformed, compared to the last year.

To make things worse, the heavyweights of the US markets, the tech companies have been falling at a steep rate,

This party is due to the overvaluation during the bull run and the depressed results but the tech giants like Facebook (Meta)

But as stocks have hit the bottom, it is seen the Nasdaq index is recovering and by movements of the retail investors, it seems like many have bought the dip of these tech companies.

This dip buying is majorly seen in Apple and Microsoft stocks, both heavyweights of the index, this has resulted in Nasdaq posting postive day gains.

Investors are gaining confidence in the growth outlook amid monetary tightening.

08/02/2022

Tesla Holding Bitcoins

In Tesla's annual filing with the U.S. Securities and Exchange Commission (SEC) it was seen that Tesla had Bitcoin holdings worth nearly 2 Billion Dollars

The filing also revealed that Tesla also recorded losses worth 100 Million Dollars as the prices of Bitcoin has been falling.

Previously for a brief period Tesla even had started to accept Bitcoin as payment, but, stopped quoting the environmental concerns by Bitcoin mining.

Tesla's willingness to have exposure to cryptocurrencies and Bitcoin is majorly influenced by its CEO, Elon Musk, who's a big supporter of crypto.

Tesla parking their investments in crypto could also encourage other companies to do so.

05/02/2022

Russia Accelerating Towards Crypto

Previously we saw that Putin had a special interest in Crypto and saw Russia playing a major role in Crypto mining given that they are an energy rich nation.

Putin even urged the central bank and his ministers to work around Crypto to regulate it, seems like Putin's orders have been put to play.

Russia's Finance Minister, Anton Siluanov has suggested that banks in Russia should be allowed to sell cryptocurrencies.

The finance minister also wrote a letter to the prime minister mentioning, cryptocurrencies should also be treated like gold and other assets.

Currently Bank of Russia of Russia holds a rather opposing idea of having a complete ban on Crypto, but, seeing the advances made by the high command in the Russian government, we probably might see Russia legalizing cryptocurrencies.

02/02/2022

Crypto On Budget 2022

Crypto was discussed in the Budget 2022 and it definitely came as a surprise to everyone.
Some are happy about what they talked and some are sad.

It was told that we were not expect Crypto regulations being discussed in the budget, so many had left the hopes of Cryptocurrencies being regulated anytime soon.

In the budget, Crypto was referred as 'Digital Assets' and it's profits would be taxed by 30% without the option of writing off loses.

Pretty harsh, but, on the brighter side the Indian Government has recognised cryptocurrencies as an asset class and it's safe to say that Crypto is legal in India.

Intersting times ahead ahead as the Indian government has also announced they will be releasing a digital form of Indian rupee.

01/02/2022

India Budget 2022 levies 30% tax on all digital assets, including Crypto currency and NFTs.

01/02/2022

IMF Unhappy With Bitcoin

The international monetary fund (IMF) has urged El Salvador to drop Bitcoin as it's legal tender,

El Salvador was the first sovereign nation which adopted Bitcoin as their legal tender, this was seen as very progressive and a risky move as well.

The adoption in El Salvador has been bumpy as the government's Cryptocurrency app is filled with technical problems,

But IMF and other countries along with them fear Bitcoin for other reasons, where IMF quoted "large risks associated with the use of bitcoin on financial stability, financial integrity, and consumer protection, as well as the associated fiscal contingent liabilities,"

It will be interesting to see how other countries trying to regulate Crypto, including India will react to this statement by IMF.

01/02/2022

May your business grow and expand every day.
We hope the journey ahead gives you more success in your life.
Happy Chinese New Year🧧

31/01/2022

80 Million Dollars In Crypto Stolen

When anyone sparks a debate about cryptocurrencies, one of the arguments who are in support of the crypto is that cryptocurrencies are insanely safe.

While that argument holds true on majority of the counts, still the Blockchain technology isn't enough to stop people from stealing.

Word has come in that hackers have stolen 80 Million Dollars worth of cryptocurrencies from Qubit Finance, a DeFi platform.

Currently the platform is begging the hackers to return the stolen money, the Qubit Finance team has also directly appealed to the hackers so that they can minimise the damage to Qubit community.

This is one of the first major crypto hack of 2022.

28/01/2022

Black Gold Touches Highs

Crude Oil touched 90 Dollars/ Barrel for the first time in 7 years.

One main reason is that there is a short supply and one can't do anything about it, but, the Russia Ukraine political tensions are also driving up the Crude Oil Prices.

Russia has thousands of troops standing on the Ukrainian border and the globe fears an invasion, this would impact the Russian gas supply to Europe also Russia is one of the largest Oil exporters.

In a note of reassurance, US Secretary of State, Tony Blinken has said the US will make sure that the global energy supplies are not disrupted if Russia takes action.

Regardless, the prices of crude oil are bound to rise up if Russia goes ahead with its offensive approach in Ukraine political tensions.

27/01/2022

Marching towards Rate Hikes in March

The word has come from the US Fed themselves that they'll be considering on hiking those Fed Rates in March, this decision was taken when US Fed held a meeting Yesterday, 26th January.

Jerome Powell has also signalled on tightening and agressive approach at the policies, these remarks have directly led the 10 year bond yields to jump up along with the US Dollar Index

Higher bond yields and rising US Dollar Index are both bad for emerging markets like India and hence today, Sensex fell by 1,200 points and Nifty 50 is trading below 16,900.

This volatility is predicted to stay in the markets as the US Fed still hold their hawkish stance.

26/01/2022

Is Nasdaq Going into A Bear Market?

According to Jeremy Siegel, a finance professor at the Wharton School of the University of Pennsylvania, says we might witness Nasdaq going into a bear stint.

All the major tech stocks have already taken a beating in the last week's trading session and things are not looking too good that the markets could recover.

The US Fed is absolutely firm on bringing down Inflation, the professor also says we might see 4 interest rate hikes from the Fed

Looking at the equities market right now, the market might not sustain such steep hikes,

He predicts Nasdaq could go 20% down from its all-time high, the markets will have to go down by 7% more to meet that 20% target.

26/01/2022

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25/01/2022

Solana, visa of crypto
A strategist at Bank of America has revealed he believes SOL has the potential to become the visa of the crypto.

24/01/2022

Bitcoin at 35k

Just in the last week, Bitcoin is down by 17%, about 1.5 Billion Dollars worth of Bitcoin positions were exited, which marked as the worst weekly performance in 8 months.

The US Fed has fixed their meet on January 25-26, in order to strengthen the US Dollar in the market it is said that the Fed will take actions

This means we could see further slump, but, the key support level is also very nearby at 30.1k,

The RSI right now at its lowest, when compared to 2 years performance. Putting Bitcoin in the extremely oversold zone