Qrafty heard about a bill and a funny self custody story, merchants will push CBDC's and Roubini launches a token!

***Qrafty smiling the biggest smile*** Aloha, digital currency aficionado! I am Qrafty - the crypto lovin’ honey badger 🦡 !

Welcome to Coinqraft – the daily crypto newsletter for busy but curious people who just want the essence and goodie of digital assets!🌟

🦡   Qrafty is back with juice and news crypto jungle, so let’s dive in 📰 🌟

1. A Bill and a Story About Self Custody

2. Merchants Will Push CBDCs

3. Roubini Launching a Token 😂 

Bonus: Tom Emmer: Gensler is incompetent

Roubini Is Launching A Token 🤣 

Well, well, well, guess who's jumping on the crypto bandwagon? None other than the one and only "Dr. Doom" himself, Nouriel Roubini. You know, the guy who called Bitcoin "the mother of all bubbles" and crypto "the biggest criminal heist in human history."

But heeey… c’mon… all that hate is water under the bridge now. All past pains are forgotten because our boy Mr. Nouriel is getting in the token launching business.

Now, let's talk about Atlas Capital, where Roubini hangs his hat these days. They describe themselves as a FinTech company with a flair for addressing macro, geopolitical, and climate risks. And if you visit their website, you'll see all the typicals buzzwords – AI, ML, RWAs, and DeFi. Quite the change of tune for a guy who, just last year, was calling crypto a "collapsing Ponzi scheme."

And what's Roubini's endgame? Well, it's not just about making a quick buck in the crypto casino. ACT is supposed to be a digital lifeline for those in need, a means of payment for vulnerable communities. It's like Robin Hood with a smartphone – taking from the rich volatility of crypto and giving to the struggling, protecting them against the USD’s volatility. Who would've thought "Dr. Doom" would turn into a crypto hero? Qrafty hopes that sarcasm is palpable between these words.

In a nutshell, Roubini and Atlas Capital are serving up a smorgasbord of financial innovation with the Atlas Climate Token. From stablecoins to real-world assets and helping the underprivileged, they're “on a mission to redefine the financial landscape”.

Phew, thank the digitals gods that we have so many great heroes like Roubini to save us in this digital currency mayhem…

🙃 Qrafty hopes that today’s main story brought brave badgery value to you! Now it’s time for a break, you deserve a bit of fun! 😇 👇️

BIS Wants Businesses to Push CBDCs On Us

Oh, the wisdom of central bankers, always on the cutting edge of financial innovation! According to the oracle of the Bank for International Settlements (BIS), Agustín Carstens, central bank digital currencies (CBDCs) are the holy grail of financial system progress. And who knew the private sector would play a significant role in this riveting adventure?

Yup, the private sector is here to save the day! According to Carstens, they're the real heroes in bringing CBDCs to market. Because, you know, central banks are just too slow and clunky to handle this kind of thing. It's not like they've been in the financial game for centuries or anything.

He made these grand proclamations at a conference on CBDCs in Basel, Switzerland. Because if you're going to drop some knowledge bombs about the future of finance, might as well do it in a place known for its breathtaking views, chocolate and... well, what was it?

Ah! Yes! In the country renowned for its private banking and agglomeration of bankers per square meter!

Carstens is convinced that CBDCs, in all their wholesale and retail glory, are going to be the heart and soul of our future financial system.

But wait, there's a twist! Monetary authorities won't be the star players in this show; that role is reserved for the private sector. They get to have all the fun while the central banks just watch from the sidelines, eating popcorn, probably. It's the classic case of "let the experts handle it" while the rest of us try to figure out what's going on.

And let's not overlook the security challenges in operating CBDC systems. It's all fun and games until someone hacks the money printer, right? But don't worry, they're totally focused on your privacy. Well, they mentioned it in passing, so it must be a top priority. Right?

Bill to Protect Self Custody

US Senator Ted Budd (R-NC) is gracing us with the "Keep Your Coins Act," a piece of legislation so noble it practically has its own theme music.

What's it all about, you ask? Protecting your sacred right to handle Bitcoin and other cryptos without any meddling middlemen. Yes, those third-party intermediaries are just a nuisance, always wanting to, you know, facilitate your transactions and keep your assets secure. But you should also have the right to do it yourself, which is 100% right!

Senator Budd, our fearless crypto champion, wants you to be free from the shackles of these third parties. For the regular user, they help with security and simplify the whole crypto experience. But we'll be like lone wolves in the digital financial wilderness, forging our path with blockchain and grit.

Let's not forget the FTX collapse, that little hiccup in the crypto world. Senator Budd is like the watchdog, making sure such mishaps don't happen again. Because in the world of cryptocurrency, we don't learn from our past; we pass bills to prevent it from happening again. Sounds about right?

So, kudos to Senator Budd for protecting our right to financial independence in the wild and untamed crypto frontier. Who knew self-custody could sound so heroic?

Self Custody Is Not Easy

Looks like Rain Lõhmus, the founder of Estonian bank LHV, is playing a high-stakes game of hide-and-seek with his crypto fortune. He's got a wallet sitting pretty with 250,000 Ethereum units, worth $472 million. But oh, wait for it... he's misplaced the key! Classic Lõhmus…

Lõhmus casually dropped the bomb in an interview, revealing he's got a quarter-million Ethereum units worth peanuts when he bought them in 2014. They've been on a digital vacation ever since.

Now, you might think, "Just find the key and cash in!" Easier said than done. He hasn't exactly been Sherlock Holmes about it. But no worries, he's open to offers of help. So, if you're a crypto encryption wizard looking for a lost key, you might just become Lõhmus' hero.

In the meantime, let's all bask in the irony of a bank founder unintentionally locking away a digital fortune. Right? Right?!

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Tomorrow: the best day to procrastinate since yesterday.

Qrafty’s thought of the day

Other stories

Ripple expanding in Africa through Onafriq

Ripple has teamed up with Onafriq to expand remittance services across Africa. This collaboration will connect users to PayAngel in the U.K., Pyypl in the Gulf Cooperation Council, and Zazi Transfer in Australia through the establishment of three fresh blockchain-driven payment channels.

Tom Emmer: Gary Gensler is as ineffective as he is incompetent

The House greenlit Majority Whip Tom Emmer's nonpartisan amendment, adding more oversight to the SEC and its chair Gary Gensler. Emmer didn't hold back, calling Gensler ineffective and incompetent. He's pleased that his amendment to rein in SEC enforcement against the digital asset industry sailed through without a hitch.

HSBC has Ripple’s Metaco as custodian of digital assets

The $9.1 trillion HSBC has announced its intentions to roll out a custody service in 2024 for safeguarding blockchain-based assets excluding cryptocurrencies.

This service, established in collaboration with Swiss digital asset company Metaco, owned by Ripple, will provide institutional clients with the capability to securely store blockchain-based tokens representing conventional financial assets, steering clear of crypto and stablecoins.

Market Whispers

Bitcoin continues its daily uptrend. Today it went for the highs again, didn't managed to pass it yet, but everyone is super excited again, longing at resistance, so we might see a slightly push higher before a correction.

Now, considering the daily candles, the correction might not be as much as many hope, to get onboard. Maybe a $34,700 - $35,000. The only problem Qrafty has is that this upward trend is in it's forth week already, how much can it go up without a serios correction?

Ethereum could not keep up with Bitcoin's rally today, it didn't even take last day high, not to talk about the $1,914 high.

That's also because ETH/BTC pair is not in a very happy place, it tried to reclaim an important monthly level at $0.05 but it didn't manage to stay above it for more then a day. Until Bitcoin is done, it will not let ETH or the majority of alts to have a spot in the light. So, the Eth play remains the same as discussed every day of this week.

Qrafty ends channeling his inner trader.

Today is INTERNATIONAL DAY OF RADIOLOGY!

That’s all from Qrafty 🦡 for today! Qrafty thanks you and wishes you to live each moment as if you are listening to the music you love most!

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