Qrafty knows about US Bill to ban FED from CBDC, SWIFT & Metamask upgrades and... 1000 year old aliens!!!

***Qrafty smiling the biggest smile*** Aloha, crypto curious! 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. Metamask Ads Snaps For Your Wallet

2. Garry Gensler Gets 1 Million From Stoned Cats

3. SWIFT Is Upgrading Their Tech

Bonus: 1000 Years Old Aliens!

Oh Snaps, Metamask!

Today’s brilliant move is brought to you by…. Metamask! Yes sir… Metamask Snaps is like having apps for your wallet, giving it different superpowers. Think of your wallet like a key, mkay?

In the magical land of crypto, you use your wallet to access different ecosystems.

But… but… what do you mean by ecosystems, Qrafty?

Qrafty means that you use your wallet to access the ecosystem of the play to earn game you enjoy playing. Both for the gameplay and rewards!

You also access the decentralized exchange where you hold your staked coins for interest. In a wallet, you also keep coins that you don’t touch. NFT’s are stored in your wallet, too 🙂 

And you also access decentralized applications with your wallet, like dApps on Ethereum, get it? And a LOT more things you can do with just a wallet in the Land of Magic Internet Money!

So you can do a lot of things, but how would you know about them? You’d have to either run around the crypto jungle everyday and get all the scoops, or you would join Qrafty’s Letters… see what I did there? 🙃 

That’s the thing with Snaps from Metamask! It’s apps for your digital wallet, with an S in front of it, to make look sleeeek baby!

This allows the development community to build projects and utilities for your wallet, effectively creating a new market for Metamask applications.

The most important aspect here is who is bearing responsibility for the authenticity of the apps? Metamask has A LOT of work to do against potential frauds and scams hidden in the code of these apps. Then again, they’re a crypto wallet provider, so they should know a thing or two about security.

In Metamask’s new shiny Snaps playgound you will find a lot of diversity: different other wallets to plugin with, other dApps ecosystems, decentralized identity, NFT’s, risk assessment for smart contracts (these are like the antiviruses of the blockchain world).

TradFi is coming into crypto, that’s clear. The whole crypto ecosystem will develop, and those who are compliant will definitely thrive and evolve. Metamask is one of them. This new ecosystem allows a lot more people in. Who knows, maybe in the near future there will be only Metamask Snaps developers!

Wanna know something funny? You can even chat with your wallet! So much for going to the bar for a date… you just show her your wallet online and get rejected without all the hassle!

🙃 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! 😇 👇️

1. Gary Gensler Gets One More Million for the SEC

There’s talk around the forest that the Hollywood connected NFT collection, Stoner Cats, has had a crash course to sudden reality by a lawsuit from the SEC. But you will see this piece of news associated with Mila Kunis, to grab your attention, mkay?

So Stoner Cats is a limited edition NFT collection which is tied to a pretty cool animated show called Stoner Cats. It’s about some elephants that…

Qrafty…

Just joking 😁 Of course it’s about cats! Cats that inhale weed from their owner’s medical marijuana, and become sentient! The weed is for the cat owner’s early onset of Alzheimer symptoms. With their new found ability to reason, the cats get their human out of troubles. And a lot of comical situations along the way.

The plot is funny as hell and totally worth a watch. The voices are performed by Mila Kunis, Jane Fonda, Ashton Kutcher and other TV personalities.

The show producers issued a series of NFT’s called Stoner Cats. Fans of the show and NFT enthusiasts bought everything. And the SEC charged the company behind the show for selling unregistered securities. Which according to the Howey test… rings kinda true.

The total amount the producing company made from the NFT’s? $8 million. How much did they have to pay the SEC as fine? $1 million. And also pay back all the buyers of the NFT’s.

The best part of all of this? Some started buying the collection 🙃 😂 Is this a speculation or do they know something?

2. Binance US CEO resigns. What do they know?

It’s pretty clear by now that execs are abandoning the Binance ship. Today, Brian Shroder is announcing his leave after about two years at the helm of the company. Qrafty’s question is… what do they know and not sharing? Just before Labor Day, another Binance executive left, the Head of Product.

Also, Binance is laying off 100 employees, around a third of its total workforce. That is nasty… Qrafty’s question is: WHY are they leaving? What do the execs know? Are they leaving because they know too much about the past or because they know too much about some parts of the future like… I dunno… Binance’s future as a company and exchange.

Qrafty can’t help but observe the weirdness of top executives in the company leaving ship. Is it because of financial strains? This bear market has been tough and even a perceived giant such as Binance can bleed. They are already facing a lawsuit from the SEC, one from the CFTC and an ongoing investigation from the DOJ.

3. U.S. CPI to 3.7% in August

In simple terms, in August of 2023, the prices of things people usually buy went up by 0.6%, which is the biggest increase this year. When we look at the prices compared to a year ago, they went up by 3.7%.

There's another way of looking at this called the core CPI; it’s the same index, without food and fuel prices, considered more volatile.

Core CPI went up by 0.3% and by 4.3% compared to a year ago. Some experts thought it would go up by a bit less, 0.2%. The core CPI is important to the Federal Reserve because it helps them figure out where prices might go in the long run.

This higher price for things affected how much money workers got in their paychecks. Real average hourly earnings went down by 0.5% for the month. Most of this price increase was because of gas. Gas prices went up by a lot, 10.6% in fact.

4. SWIFT is Upgrading Their Tech

There’s an old saying in the finance sector: things run in the family. This saying has a lot of deeper meanings. Anyway, SWIFT is playing CBDC integration with the Hong Kong Monetary Authority, the Central Bank of Kazakhstan and another central bank they didn’t wanna mention.

SWIFT did a sandbox test with 18 other central and commercial banks, doing nearly 5,000 CBDC-to-CBDC and CBDC-to-fiat simulations over a 12-week period. This allowed Central Bank Digital Currencies (CBDCs) be transferred on their current financial systems and expand for international transactions in over 200 countries.

So SWIFT built what they call API-based CBDC connector. This basically allows financial institutions within the SWIFT network to connect to SWIFT’s API and transact and settle both CBDC’s and fiat among themselves.

It’s like… they get another type of Monopoly money to play with, you know? But these are digital shiny coinsss, not dirty physical money! And SWIFT has built them a whooole neeew digittal playground for them to send and receive these coins!

Even more, the second phase of the SWIFT pilot plans to make something akin to smart contracts! As they mention themselves, “trigger-based payments for digital trade platforms, foreign exchange models, delivery vs payment and liquidity saving mechanisms.“

For the next phase, SWIFT has already onboarded 30 financial institutions, including The Reserve Bank of Australia, Deutsche Bundesbank, HKMA, Bank of Thailand and CLS.

SWIFT’s news focus? Interoperability and tokenized assets! The Atlantic Council says that 130 countries (98% of GDP), are looking into CBDCs. Also, 19 of the G20 countries are well on their way to CBDC development, while nine are in testing phase.

Looks like SWIFT learned very well from Ripple!

5. One More Needed From One Coin

Well, it seems Karl Greenwood, co-founder of the OneCoin pyramid scheme, just earned himself a 20-year 'all-expenses-paid' vacation behind bars! Oh, and he also has to say goodbye to a cool $300 million as a souvenir for his part in this not-so-magical scheme! Just like any magic trick, it all went quickly poof! 🎩💸

There’s just one more person that needs to be found, the other co-founder, and that is Ruja Ignatova, aka “the crypto queen“. That’s the brain behind this. It just seems that she is really good at hiding…

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

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Tomorrow is like a surprise party we're all invited to, but nobody knows what the theme is - yet we all bring our own costumes!

Qrafty’s thougt of the day

Other stories

FTX Gets Court Approval to Sell

Qrafty already mentioned in a previous edition that they can do it in two ways: via OTC deals, via selling directly on exchange or a combination of both. This can also be a method of market manipulation, because it’s a lot of potential liquidity that can drive prices in desired directions.

US Congressman new bill to ban the Fed from creating a CBDC

“If not open, permissionless, and private – like cash – a CBDC is nothing more than a CCP-style surveillance tool that can be weaponized to oppress the American way of life. We’re not going to let that happen.“ says Tom Emmer. We’ll see how this goes, as it is fundamental in its nature for the rights and liberties of US citizens.

But it’s also worth keeping in mind that politics is a circus for the masses, aside from being the oldest occupation in the world…

Vitalik Sees More Asian Devs in Blockchain

Vitalik Buterin, the beautiful soul that create Ethereum for all of us, is seeing Asia coming in strong with development and research on blockchain and applications. Well… up until now he only saw the money from China in Ethereum… now he’ll see the developers as well.

CoinEx hacked, shuts down withdrawals

Crypto exchange CoinEx was hacked and the attacker stole $54 million in crypto currencies from the exchange’s hot wallets. CoinEx promised that those who were affected will be compensated in full.

Alien mummy presented in the Mexican Congress!

Qrafty is serious! Well, it seems Mexican lawmakers had a close encounter of the 1000 year old alien mummy kind!

They got an earful about how "we're not the only ones" in the Universe and even laid eyes on what some say were intergalactic leftovers - all in a wild and wacky hearing that marked Mexico's first-ever UFO summit in Congress! Worth checking out 😁 🛸👽

Coin Listings/Delistings - September 14, 2023

BitTrade lists EOS (@EOSnFoundation) at 06:00 AM (UTC).

Market Whispers

After yesterday's pump, Bitcoin held the line pretty well… considering the volatility that came in today with the CPI announcement.

It started the day at $25,840 and up to $26400. It has to flip $26,600 into support to go up to $27,500.

A retest of $25800 would be a second chance for many who missed this move up. But Bitcoin is rarely this kind, when it wants to go up, it just goes up, leaving many traders on the sideline, watching.

Qrafty ends channeling his inner trader.

Today is INTERNATIONAL CHOCOLATE 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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