Sat 12/24

Good Morning & Merry Christmas People. Our Central Bank governor has predicted that cryptos will cause the next financial crisis ( talk about psychic powers! 🔮), you can now get NFTs to stay fit and SBF is out of Jail ( of course he is :-))

Next Financial Crisis Will Be From Crypto if It's Not Banned: Indian Central Bank Governor: Central bank Governor Shaktikanta Das has predicted that the next financial crisis will come from "private cryptocurrencies" if they are allowed to be regulated and not banned outright. Das was speaking at the Business Standard BFSI Insight Summit on Wednesday. "Our view is that it should be prohibited because if you try to regulate it and allow it to grow, please mark my words the next financial crisis will come from private cryptocurrencies," Das said. "They have no underlying value. They have huge inherent risks for our macroeconomic and financial stability. I am yet to hear any credible argument about what public good or what public purpose it serves."

• Growfitter, India's Biggest Health And Wellness Rewards Platform, Offers Nfts On Near Blockchain: As part of encouraging fitness resolutions for the coming new year, Growfitter, India's biggest health, and wellness rewards platform is launching the most coveted fitness league in the country - India's Fittest State Challenge. The digital health platform has partnered with NEAR India to offer blockchain wallets and proof of participation-based NFTs as rewards for the challenge. It will offer 100,000+ NEAR wallets powered by Leap Wallet, and participation medals & certificates in the form of NFTs for competing

• Reelstar Partners With The Great Indian Sneaker Festival To Unveil On-the-spot Nft Creation: ReelStar application, a Web 3.0-integrated social media platform, has collaborated with The Great Indian Sneaker Festival as their title sponsor. It is believed that artists will get an opportunity to create non-fungible tokens (NFTs) of their art forms using the ReelStar application on-the-spot. Navdeep Sharma, Co-Founder, ReelStar, said, “The ReelStar app democratises and levels the playing field for creators and artists. As promised, we are here in India at The Great Indian Sneaker Festival with on-the-spot NFT creation for creators/artists. The ReelStar app can also open a broad range of new opportunities for the Indian Fashion Industry”

• SBF Is Home ( But It's His Parents'): Sam Bankman-Fried is headed to his parents’ home in Silicon Valley after being released on $250 million bail yesterday. The former FTX CEO will be under house arrest while he awaits trial for fraud—including allegations that he moved customer funds from the crypto exchange into his other company, a crypto hedge fund called Alameda Research. Caroline Ellison, the old former CEO of Alameda, also pleaded guilty for her role in the massive grift this week, attempting to minimize her punishment in exchange for her full cooperation with SBF’s prosecutors

• Stablecoin Volume Hits Record High of $7.4 Trillion in 2022: While trade volume trended down for most leading crypto assets, stablecoins executed $7.4T worth of transactions in 2022, up from $6T in 2021. According to Peter Johnson, formerly of Jump Crypto, the stablecoin sector beat out top credit card companies including Mastercard with $2.2T in volume and American Express with $1T volume. Stablecoin volume is up more than 600% in two years, with the asset class driving just $1T worth of transactions in 2020.

• Gary Gensler, Sec Chair, Calls Crypto A Casino: Calling crypto a casino, Gary Gensler, the chair of the U.S. Securities and Exchange Commission, warned Thursday that the crypto crackdown is just getting started. “The runway is getting shorter,” Gensler said in an interview with Bloomberg News. “The casinos in this Wild West are non-compliant intermediaries.” “[Insiders] sell the public on an idea while they’re potentially fraudulently pumping up the stock,” Gensler said. “This leads to distorted incentives and puts the public further at risk.”

Web3 Full Stack Blockchain Developer At Safle

What Are Public And Private Keys?: Public keys and private keys are the working parts of Public-key cryptography. Together, they encrypt and decrypt data that resides or moves in a network. The public key is truly public and can be shared widely while the private key should be known only to the owner.