Qrafty knows about ETH futures ETF approved, PayPal wants NFTs too and a CBDC test called... Mariana

***Qrafty rolling the red carpet for you*** Welcome, digital currencies afficionado! I am Qrafty - the crypto lovin’ honey badger 🦡 !

Welcome to Coinqraft – the daily crypto newsletter for busy, but curious people who don’t have time for the crypto drama!🌟

🦡   Qrafty has fresh bits from the crypto jungle, so let’s dive in: 📰 🌟

1. Ethereum Futures ETF Approved, BTC ETF Delayed! 😮‍💨 

2. PayPal Wants In On NFTs 🤑 

3. A New CBDC Test Called Mariana 🤣 

Bonus: PaySafe stops processing EUR for Binance

ETH Futures ETF Approved, Bitcoin Delayed

Valkyrie, the asset management powerhouse, has started acquiring Ether (ETH) futures contracts. This move follows their successful approval to transform their existing Bitcoin futures exchange-traded fund (ETF) into a two-for-one investment vehicle.

While that’s good news, Qrafty advises not to get your hopes up and don’t take unnecessary risks. Most people will expect things to boom. Youtube influencers will have their weird faces on those video thumbnails subtly telling you that the bull market is here and buy buy buy.

Crypto bros are sweating with excitement that TradFi is coming into crypto, essentially the sworn enemy of the entire movement. Makes you think how much crypto is a legit movement or a huge psyop, doesn’t it?

We’re talking about TradFi here, their strategies are way more complex than crypto bros and the “up only” mindset. The purpose of TradFi is to bankrupt crypto and retail solely for their own gain, just like crypto’s purpose was to bankrupt retail in the bull run (and in the bear market as well). Remember, this is a war waged against you. Everybody wants your coins and they will do whatever it takes to get them: lie, cheat, steal.

The biggest telltale sign? SEC delayed Blackrock’s spot Bitcoin ETF decision. So hold your horses, curb your enthusiasm because it ain’t sunny in Philadelphia, yet. Qrafty is asking you to be careful, pay attention and decide for yourself.

🙃 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! 😇 👇️

Lagarde: CBDC Will Be Pseudonimous

European Central Bank chief Lagarde says that an ideal digital Euro CBDC should offer privacy without full anonymity, be user friendly, free and universal. Also, it’s at least two years away from becoming reality.

This comes in a context where the ECB is approaching a deadline where they need to decide with the continuation of the CBDC pilot, but some members of the European Parliament are skeptical.

She stated that if “we can address all the conspiracy theories that abound about this – as if Big Brother was going to suddenly determine what you buy, when you buy it and how restricted it should be – then I think it would be characterized as a success,” Lagarde said, adding that the digital euro will need to offer privacy without full anonymity, and be user-friendly, free and universal.“

The biggest problems with the conspiracy theories in the past 20 years or so? They turned out to be more like accurate predictions than conspiracies. So let’s not start trusting politicians just now, mkay?

PayPal Goes For NFTs Too

Ohhh, PayPal again, isn’t it? Not a week passes by without them taking one more crypto step. This time, the company has applied for a patent for a special "NFT purchase and transfer system" identified as patent and document number US-20230298001-A1 at the USPTO.

This system allows for transactions to occur off the main blockchain within an NFT marketplace. Additionally, various digital wallets will be able to access and manage the NFTs.

So, aside from PayPal planning on becoming a combination of a bank + hedge fund + (passive) fund asset management company for their crypto oriented customers, they want to be the repository for your NFTs too.

And maybe a new rival for NFT marketplaces like OpenSea? They have the team, the know how and the drive to want to take as much of the market as possible, while pushing crypto to their current customer base. Time will tell.

Former Blackstone, GS Employee Charged For Insider Trading

In a plot that sounds straight out of a financial sitcom, Anthony Viggiano, a former Wall Street whiz-kid from Goldman Sachs and Blackstone, decided to spice up his resume with some securities fraud charges.

He is now facing the music for allegedly turning his friends into not so accidental investment gurus. Through encrypted Signal chats and casual Xbox banter, they raked in over $400,000 in pre-defined outcome trades.

What are pre-defined outcome trades, Qrafty?

You know what fishing with a shotgun in a barrel is? Yeah, it’s the same thing, only it’s called insider trading and you get tips what to long or short with 100% accuracy from someone who knows what’s going to happen prior to happening.

Goldman Sachs and Blackstone, with a hint of faux-surprise, are playing their parts dutifully, expressing their "zero tolerance" for such antics. Oh, the irony! This marks at least the fifth time in recent memory that Goldman Sachs has had to play the role of the betrayed lover. They've seen everything from stock tips over squash games to covert deals via Signal. It’s always the small fish who get fried in finance, innit?

This looks like a modern-day financial telenovela: friendships, betrayals, and a touch of comedic incompetence. Unfortunately, there are no beautiful people with perfect hair and no wrinkles… Stay tuned for the next episode of "Wall Street Shenanigans: When Xbox Controllers Meet Stock Charts." Who knows what we will find out?

Hey hey 🙃 Qrafty hopes you are enjoying the experience here and would like to regularly get Qrafty’s letters!

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Tomorrow, the cosmic 'Snooze' button, tempting us with dreams of a more organized and ambitious version of ourselves.

Qrafty’s thougt of the day

Other stories

Coinbase gets green light to liquidate retail

Coinbase received regulatory approval from… wait for it… the Bermuda Monetary Authority to offer perpetual futures to non-US retail customers. Translation: they can legally liquidate noob retail degens without a second thought. Not that they had too many thoughts about that…

Kraken will offer stock trading

In a backwards move like scratching a left itch with your right hand, Kraken's inaugural trading service will debut in both the US and the UK, facilitated by a freshly established division named Kraken Securities. The anticipated launch for this service is slated for 2024.

Paysafe unilaterally decided to stop processing EUR deposits for Binance

This is a very important piece of news that has flown under the radar, as Binance suggests Paysafe users convert their EUR balances to USDT. The question is: why is this happening? Is this part of a larger move to debank Binance?

A new CBDC test

In a somewhat questionable display of naming prowess, France, Singapore, and Switzerland embarked on a venture testing the cross-border trading and settlement of wholesale CBDCs under the project moniker "Mariana". Additionally, they delved into AMMs (automated market makers), a domain specific to DeFi. As the proponents assert, this endeavor might lay the foundation for a fresh wave of financial market infrastructures.

Market Whispers

Well, well... it is no surprise that Bitcoin found another news as an excuse to pump. This time was the approval of Ethereum Futures ETF.

Honestly, Qrafty doesn't see this news as a solid base for a continuation higher. We are still in a bear market, the halving is 6 months away and everyone wants to invest in a BTC SPOT ETF, not ETH Futures ETF... who wants that kind of risk in nowadays economy?

As you might know a future contract is just a contract you buy with leverage, you don't actually buy the coin. And Bitcoin didn't even swipe last week high at $27,480.

Yes, Qrafty is mean, because these type of events suppress any kind of analysis a trader does and is just an euphoria that usually doesn't last much. We'll see what happens tomorrow, if pushes higher, the next target is $28.2k - $28.4k. Qrafty also wants to protect your capital and not fall prey to market shenanigans.

Qrafty ends channeling his inner trader.

Today is INTERNATIONAL ASK A STUPID QUESTION DAY!

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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