Currency Forecast

As the digital asset markets matured, the Commodity Futures Trading Commission’s (CFTC) gaze widened, stretching from traditional commodity markets to the glittering, sometimes treacherous, world of cryptocurrencies. Most folks in the crypto zoo know about the rules for Commodity Pool Operators (CPOs), but fewer have heard the tale of the Commodity Trading Advisors (CTAs) and the Commodity Exchange Act (CEA)-a set of rules that might just ensnare the unsuspecting Key Opinion Leaders (KOLs).

Such a move would be as unexpected as a panda winning a gold medal in pole vaulting. It would mark a significant departure from the 2021 crackdown on crypto, showing just how quickly the winds of policy can change. Let us not forget the big plan will also come with shiny new targets, risk rules, and of course, a clear map of which regulators must step into the arena.

The ruling? Nasdaq Listing Rule 5550(a)(2) – a mouthful, even for a lawyer. Essentially, their shares dipped below the sacred $1.00. One dollar! The minimum! It’s enough to make one question the very fabric of modern finance. On Thursday, the trading of WINT will be suspended. A dramatic pause before… well, who knows what. A sad trombone, most likely. 🎺

It followed Bitcoin’s lead and decided to sulk below $4,250. Honestly, the herd mentality is… predictable. There was bearish momentum, some trading below $4,150, the usual.

In a cruel twist of fate, XRP remains ensnared in a bearish abyss after a disheartening close below the $3.050 level, joining the ranks of its melancholic brethren, Bitcoin and Ethereum. The price, in its relentless pursuit of misery, has extended its losses, now languishing beneath the $3.00 support zone.

The Wormhole Foundation, in a post upon Stargate’s forum, did declare that the community deserved “a more competitive process.” Forsooth, LayerZero’s initial bid, though grand, failed to stir the hearts of the masses. Yet, when LayerZero updated its offer, the crowd did cheer, as if hearing the call of a siren. 🎉

Founded on the architectural marvel of Avalanche, which boasts a veritable menagerie of chains, MON seeks to bestow upon our equine substitutes of steel and rubber those charming digital identities known as NFTs, thus enabling sagacious investors to regard assemblages of these menageries as portfolios with the potential for securitization into tokens.

City Hall’s move is broader than just a payments toggle. Officials unveiled four measures: adding crypto activities to the economic-activity nomenclator (because bureaucracy loves a good alphabet soup), exempting virtual-asset service providers from certain bank-collection regimes, shifting the taxable base for crypto trading to net spread (because why tax the whole universe when you can just tax the crumbs?), and enabling QR payments for taxes and services. The government called it a “regulatory tune-up”-a phrase that sounds suspiciously like “we’re making this up as we go along.”

Well, well, well. It turns out that Bitcoin’s rocket-fueled rise is making even the so-called “experts” look like they were reading a different script. Enter Kenneth Rogoff, the Maurits C. Boas Professor at Harvard (I mean, this guy was the chief economist at the IMF, so no pressure, right?). On August 19, this top-tier brainiac took to X (yes, that’s what we’re calling Twitter now) to admit he was *slightly* off on his 2018 prediction about Bitcoin.

Lo and behold, the TRON network shall now prance alongside the likes of Solana and BNB Chain, becoming the third act in this tokenized extravaganza since the debut of Backed’s xStocks in June. According to a proclamation dated August 20, these xStocks are already parading via Kraken in over 140 realms, with more lands to be enchanted in the weeks to come. 🎭