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How To Reduce Credit Card Debt To Lighten Financial Burden

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There are many ways for people to start better managing their credit cards and being paying down the monies that they have borrowed. Few of these methods, however, address some of the major issues that consumers face once they have gotten in over their heads. This is one of the most important advantages that people can gain by choosing to secure a debt consolidation loan. These products help consumers to tackle their money problems, while providing many forms of instant relief.

When arrangements like these are made, it will no longer be necessary to field called from irate collection companies. This can be alleviate a lot of stress for people who have been receiving nearly constant calls at home and at work. In fact, some of these companies even go out of their way to connect with the friends, family and associates of debtors.

This is because the lenders that offer these products take care of all of the necessary negotiations with creditors. They pay these companies off on behalf of their clients, so that the balances are all cleared up. This results in a total cessation of written notices, phone calls and other efforts to collect.

The second benefit that people can gain through this process is a much more organized payment plan. All of their bills will become centralized. More often than not, people have been spending months juggling various statements and balances and attempting to route small payments out to numerous companies. Once everything has been consolidated, however, they will have just one bill to manage. They will only need to send out a single payment each month and will only need to communicate with just one commercial entity, should they every need to delay a payment or make a partial payment.

There are also many long-term benefits that people can look forward to. Not only will they be resolving a large amount of immediate stress, but they will also be paving the way towards a healthier and more financially stable future. Once these problems have been fully resolved, most consumers can look forward to increased purchasing power. It will often be a lot easier and even cheaper for these individuals to purchase cars and even property.

Choosing to get a debt consolidation loan is one of the most proactive ways for people to begin taking control over their lives again. These products allow people to take on feasible payments and arrangements and to put a stop to much of the harassment and frustration that arises when bills are left unpaid. Rather than agonizing each time the phone rings, people can know that they are on top of their payments and rapidly moving closer to a better credit score.

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Terra Announces Non-Profit ‘Luna Foundation Guard’

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Terra Announces Non-Profit 'Luna Foundation Guard'

Terra Luna’s ‘lunatics’ have had their sights set on a multi-part announcement that is set to unveil, and this week the first piece of the puzzle has come to life.

This week, Terra announced the formation of a new non-profit organization, the Luna Foundation Guard (LFG), that is “dedicated to supporting the advancement of open-source technology, facilitating the growth of the Terra ecosystem, and improving the sustainability and stability of Terra’s algorithmic stablecoins.”

Terra Says “LFG”

Terra has launched a dedicated landing page, lfg.org, outlining the team, mission, and funding & grants around LFG. The new non-profit will emphasize a number of major pillars that they see as core in advancing the ecosystem.

Founder and CEO of Terraform Labs, Do Kwon, also released a recent tweet thread highlighting the major pillars behind LFG:

In all, the Foundation will serve as a mechanism to continue driving engagement and adoption of Terraform Lab’s growing stablecoin, UST. Adoption of UST has continued to grow as the token, seen broadly as one of the most decentralized yet mainstream stablecoin options currently available, approaches an $11B market cap.

The aforementioned Do Kwon will lead the charge for the Luna Foundation Guard, alongside founding member Nicholas Platias and several governing council members. The team will deploy foundation grants, starting at the end of the month, to blockchain projects in the ecosystem that address open-source development, research and education, and community growth within the Terra network.

Related Reading | TA: Bitcoin Dives Below $40K, Why Bulls Could Struggle In Near Term

Luna, the tradable token that arguably serves as the 'backbone' of the Terra ecosystem, has performed exceptionally well over the past year. | Source: LUNA-USD on TradingView.com

One Of Three… What’s To Come?

As mentioned previously, this announcement is slated to be the first of three, from what started as a teaser image of the cover photo used here. That photo led many ‘lunatics’ to speculate on what could be coming – the two intersecting circles led many to believe that an incoming MasterCard partnership could be coming, and many Terra fanatics believed that some sort of Bitcoin-related support could be brought to life as well.

Speculation aside, the Terraform Labs-created blockchain continues to shine, recently becoming the first decentralized stablecoin to achieve a $10B market cap as well as launching a new automated market maker (AMM), Astroport.

For now, the LFG webpage still has a “{redacted}” section, so don’t be surprised if the coming two announcements, which could likely be unveiled over the weeks to come, are extensions or supplementary pieces of the non-profit.

Related Reading | TA: Ethereum Nosedives, Indicators Show Signs Of Larger Downtrend

Featured image from medium.com/terra-money, Charts from TradingView.com
The writer of this content is not associated or affiliated with any of the parties mentioned in this article. This is not financial advice.

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Multichain Hacker Returns 322 ETH, Keeps 62 ETH as ‘Bug Bounty’

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Multichain Hacker Returns 322 ETH, Keeps 62 ETH as 'Bug Bounty'
  • Multichain claimed the critical vulnerability had been “reported and fixed.”
  • The money was returned in four separate payments.

Over the week, Multichain users lost more than $3M due to a security flaw in six tokens. More than 527 Ethereum is still untraceable even after the recovery of 322 Ethereum, which the white-hat hacker returned. One of this week’s Multichain hackers has remitted 322 ETH ($974,000) to the cross-chain routing protocol and one of the victims. As a “bug bounty,” the hacker pocketed 62 Ethereum ($187,000), while 528 Ethereum ($1.6M) remained unclaimed after the vulnerabilities.

Vulnerabilities of Six Coins

The theft of $1.43 million in WETH, PERI, OMT, WBNB, MATIC, and AVAX tokens was reported earlier this week due to a Multichain security flaw. On January 17, Multichain claimed that the critical vulnerability had been “reported and fixed.” However, due to the vulnerability’s public disclosure, many attackers pounced, stealing more than $3 million. Multichain has spent $44.5 million draining cash from numerous chain bridges to prevent severe vulnerabilities of the six coins.

Hackers calling themselves “white hat” have reached out to both Multichain and a user who lost $960,000 in the last day or two in an attempt to recover 80 percent of the money in exchange for a large finder’s fee. On January 20, Tal Be’ery, a co-founder of ZenGo wallet, posted a tweet claiming that the hacker had saved the rest of Multichain users from being attacked by bots through the act of defensive hacking.

The money was returned in four separate payments. The hacker returned 269 ETH ($813,000) to the individual he took it from in two transactions and pocketed the bug reward of $50,000 on January 20.

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Crypto Market Falls With Cardano (ADA) Losing 10% In Last 24 Hours

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Crypto Market Falls With Cardano (ADA) Losing 10% In Last 24 Hours
  • In January, ethereum is down more than 18 percent.
  • Cardano’s market capitalization fell to $41.27 billion.

The worldwide cryptocurrency market capitalization has fallen by 7.75 percent in the previous 24 hours to $1.83 trillion. A decrease in investors’ confidence sent Bitcoin’s price down to $39,000 today, continuing the downward trend. The most popular and most valuable cryptocurrency in the world fell by almost 7% to $38,802. Since the beginning of this year, the value of Bitcoin has fallen by more than 14%.

Meanwhile, the second most popular cryptocurrency, Ethereum, fell below the $3,000 barrier. At $2,861, it’s down by more than 8%. Compared to Bitcoin’s 60 percent rise last year, the token gained nearly 400 percent. However, in January, the token is down more than 18 percent.

Since October 27, 2021, Cardano’s (ADA) one-day percentage loss has been the highest. Cardano’s market capitalization fell to $41.27 billion, or 2.22 percent of the overall cryptocurrency market capitalization, following the downward trend. At its peak, Cardano’s market capitalization was $94.80 billion dollars. The preceding twenty-four hours have seen Cardano move between $1.2117 and $1.2802.

Read More: Cardano Price Prediction

60.90% Down From All-time High

Cardano’s price has been stagnant for the previous seven days, moving only 1.19 percent. The last seven days have seen this currency fluctuate between $1.2113 and $1.6349. Cardano is now trading at a loss of 60.90 percent from its all-time high of $3.10 reached on September 2, 2021.

ADA/USDT: Source: TradingView

Cardano’s price is now $1.23 USD, with a 24-hour trading volume of $2,814,126,246 USD, according to CoinMarketCap. Compared to the previous day, there has been a 9.99 percent decline in the price of Cardano.

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