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CHF ACCESS Down Payment Assistance Program – California Home Loan For Little Or No Down Payment

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With interest rates and home prices at historic lows, many individuals (previously forced from the market) are now grabbing for their slice of the American Dream… the dream of home ownership. The newly announced CHF Access down payment assistance program will make this dream a reality for thousands of California residents. This program works in concert with FHA’s (203b, 234c) federally guaranteed loans, which currently requires only a 3.5% down payment. Qualified California applicants will now be able to secure a 15 year 2nd mortgage for 3% of the sales price (which can be utilized for down payment and/or closing costs). This down payment assistance loan is being offered at a very low rate of interest (currently 8.25%). The other.5% may come in the form of a gift allowing for no down payment money out of pocket from the buyer.

In addition to qualifying under traditional FHA guidelines, applicants will also be required to prove that their income meets or exceeds 120% of the median income for the county in which they wish to buy a home. This unique program is being offered only through approved participating lenders and is sponsored by the California Rural Home Mortgage Finance Authority (CRHFMA Homebuyers Fund).

The new CHF ACCESS program addresses the often insurmountable challenge of saving money for a down payment and closing costs, while providing a mechanism in which to ease the pressures on the housing market and state economy as a whole. This program is a win-win for would-be home buyers and existing homeowners alike…it is a big win for California! At this writing I am unaware of when this program expires, but these programs are often limited by funding and administered on a first-come-first-served basis. My advice to interested potential homeowners is to get your application in as soon as possible and become pre-qualified. Other restriction may apply. Most loan agents do not charge to pre-qualify individuals for a home loan.

When you combine the federal $8,000 tax credit and the new CHF ACCESS down payment assistance program with FHA’s current loan programs, you have a recipe for success-in-home-ownership! For a referral to one of our professional lending affiliates, feel free to contact me directly.

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All About Quannabu, the Cryptocurrency Built for the Cannabis Industry

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quannabu

In 2019, merchant processor Fortress Payment Technologies announced that it would no longer be able to accept Visa payments for cannabidiol (CBD) related products. The announcement only gave merchants eight hours’ notice of the change, this is just one example of the many financial hurdles that the cannabis industry has faced when trying to process transactions for cannabis-related products.

Unfortunately, because legislation and regulations in the cannabis industry are still evolving, the industry is consistently dealing with these obstacles. To avoid any possible risks, even in areas where cannabis is now legal, most banks, credit card companies, and payment providers will avoid working directly with cannabis transactions.

Due to difficulties faced with transactions, many businesses are inclined to use cash as their standard payment method. However, storing cash presents a whole host of problems for businesses. Not only are businesses’ security compromised with the increased possibility of theft, but also their employee’s safety when transporting cash.

To provide a solution to the problem the cannabis industry has been facing, London-based startup Quannabu has launched a decentralized payment network for cannabis-related transactions on the blockchain. Quannabu also has a payment platform called Quannabu Pay, which is built on the blockchain and allows businesses and consumers to seamlessly transfer funds without any financial hurdles.

The company’s financial solution for the cannabis industry will not only have its own form of cryptocurrency, but also a secure infrastructure in place. Since legislation is still a work in progress for many countries, regulations are constantly changing and have created a complex and sometimes disjointed supply chain. This means that authorities have a harder time tracking the supply of cannabis.

Thanks to Quannabu’s blockchain technology, the company has created a product that minimizes illegal activity by allowing law enforcement to track the source and supply of all cannabis products. This means that governments can track the movement of cannabis and stop any illicit circulation in its tracks, creating more space for a safer and regulated marketplace.

The transparency into the supply chain that Quannabu provides will not only increase supply chain visibility to law enforcement, but also consumers, manufacturers, and suppliers. Through this solution, the company is increasing trust and creating a safer industry as a whole.

In addition to the company’s supply chain solution, token offering, and secure payment platform, it also operates Quannabu Labs, a groundbreaking testing laboratory that is dedicated to CBD-related activities on and off the blockchain—the only operation of its kind in the world.

Lastly, the company is also working towards establishing its very own hemp farm, to farm pharmaceutical-grade hemp. The facility will have certified testing equipment so it can consistently and accurately test its plants.

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Jax.Network Unveils Blockchain Co-Inventor, Dr. W. Stornetta on Its Advisory Team

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jax.network

As the race for the foremost blockchain solution heats, more crypto projects continue to throw their hats into the ring. The efforts of some blockchain projects cannot be overemphasized. Bitcoin’s influence on the market has facilitated the unparalleled exponential growth that the crypto industry has enjoyed over the last decade. This growth is despite the novel cryptocurrency’s shortcomings. Even though Bitcoin’s dominance by market capitalization has slowly waned over time, its hold over the future of blockchain technology remains ever strong.

Jax.Network enters the race, and it has made forward strides since it first appeared on the scene. The latest news out of the camp is Dr. W. Scott Stornetta joining Jax.Network as a project advisor.

Why Jax.Network?

Jax.Network is a scalable blockchain protocol anchored to the Bitcoin blockchain which runs on the Proof-of-Work consensus mechanism. Jax.Network solves the Blockchain Trilemma that plagues blockchain networks through its four building blocks. It uses a specific merge-mining technique that allows miners to mine multiple shards simultaneously while rewarding them in proportion to their contributions. It is also an open-source project. Hence, other developers can also build projects on the protocol, contributing to the growth of the network. Jax.Network issues two native coins, JAX and JXN, which serve as stable and speculative assets respectively.

Jax.Network, which already boasted an impressive international line-up, continues to add more respected names to its team. As part of the team’s efforts to build a hashrate-based stablecoin, it has turned to the services of Dr. W. Stornetta, one of the leading lights of the space. He comes on board as an advisor.

Introducing Blockchain Pioneer – Dr. W. Stornetta

Dr. W. Stornetta was one of the few people mentioned in Satoshi’s Bitcoin whitepaper – three times – and is widely regarded as a co-inventor of the blockchain. His work in collaboration with Dr. Stuart Haber, where he first mentioned the blockchain and a digital time-stamp to track transactions, was implemented in Satoshi’s Bitcoin blockchain vision. His work was featured in the New York Times in 1995 after receiving the Discover Award for Computer Software in 1992. He has a Ph.D. in physics from Stanford University. He is also an alumnus of MIT, Harvard, and Brigham Young University. These days, Dr. W. Stornetta works as a partner and Chief Scientist at Yugen Partners, a private equity firm that invests in blockchain-based startups.

He will lend his expertise and experience to Jax.Network, a company that was established in 2018 and has continued to thrive ever since. Dr. W. Stornetta has been around in the crypto space for a long time, and his presence on the team will also help Jax.Network avoid the pitfalls that have limited earlier visionary projects on their quest to propagate the financial system he pioneered with his work.

Dr. W. Stornetta finds the hashrate-pegged stablecoin that the Jax.Network team proposes quite innovative. His record as an industry visionary and experience in the blockchain sphere proves that he knows a worthy project when he sees one.

Any project within the blockchain space would benefit from the knowledge and expertise of Dr. Stornetta. Jax.Network finds itself in this coveted position with Dr. Stornetta on its advisory team. While we anticipate the official launch, there are enough reasons to be optimistic that it’ll be worth the wait.

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Interview with Adriaan Brink FUNToken CEO On The Future Of Online gaming

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Interview with Adriaan Brink FUNToken CEO On The Future Of Online gaming

Cryptocurrencies and blockchain technology have continued their rapid expansion throughout 2021. These assets and their underlying technology seem to have countless use cases and applications for the benefit of its users. Online gaming has benefited from the rise of this new asset class.

Funtoken.io, an online gaming platform leveraging the power of blockchain technology to offer multiple gaming products. Adriaan Brink, FunToken CEO, talked to us about the platform, its objectives, vision, and opportunities as the crypto industry is constantly has a bigger role in the mainstream. This is what he had to tell us.

Q: Can you tell us more about yourself, how did you first got involved with cryptocurrencies, and for those unfamiliar, what is FUN Token.io?

A: I have been involved in online gaming since 1995 when I launched the Liechtenstein lotteries and more recently in crypto with the ICO of BETR – Better Betting in 2017. With BETR we build a completely on-chain sports betting solution – removing the custodial elements of sports betting.  With the merger of BETR and FUN earlier this year we are now able to bring some of this technology to FUN.

Q: The Ethereum network has experienced high levels of congestions and expensive transactions fees, how does FUN Token improve the user experience? Have you considered migrating to another blockchain, such as Solana or Polkadot?

A: FUN is an Ethereum based gambling token that has also been around for the past 4 years.  Given the gas costs and latency on the Ethereum blockchain, a decision was made earlier this year to create a new “wrapped” token on the Polygon blockchain so that we could enable our visions for removing custodial elements from gambling.  The new token is branded “XFUN” and will go live later this month. It will be minted on a 1:1 basis with an escrow of FUN, so the more XFUN that exists the less FUN will be available in trading circulation.

Q: How do you envision the future of online gaming, and what role will FUNToken.io play in that context?

A: The current crypto environment is in many ways reminiscent of the early internet years (1995) where access was for geeks and the whole system was to many seen as niche.  That all changed and today the internet is a part of everyone’s lives.  I see crypto in the same light – we will work toward removing the technical challenges so that the average non-tech user can participate.  Ultimately it will be the way that things happen.  FUN is well-positioned as the leading gambling crypto to pave the way in this respect.

Q: In recent months, non-fungible tokens (NFT) led a new wave of crypto adoption, do you think there is room to integrate these assets into your platform? What is the next step for FUN Token that will contribute to the disruption of online gaming?

A: It is not clear to me at this stage how NFTs fit within our ecosystem, but of course, we keep an open mind and will be quick to adopt new technologies as they mature.  Right now our focus is on adding entertainment and betting opportunities to the FUN/XFUN ecosystem and building the user base.  Ultimately the value of any crypto ecosystem is dependent on the level of adoption.

Q: How many people hold FUN, and how do they benefit from your token burn strategy? What are the incentives to keep holding the token?

A: There are currently around 87,000 holders of FUN.  In addition to this, there are 190,000 holders in the Freebitco.in premium membership program (a custodial solution).  With the move to XFUN, these holders will be encouraged to move their tokens to non-custodial wallets and join in the fun across a network of casinos and other gaming sites.  All sites that are operated through Funtoken have pledged to contribute 50% of net profits to a token burn event to be held quarterly, the first of these burns take place at the end of September 2021.

Most importantly – the value of the token will ultimately be determined by the amount that is being used for the underlying utility – playing on casinos and other games. As this utility supply (which will be directly related to the number of XFUN on issue) increases the token value will need to increase to match demand.

Q: NFTs, gaming, real state, what do you think will trigger the final move for crypto and blockchain technology to be fully embraced by the world? Do you believe FUN Token is a platform that could onboard millions of users?

A: I believe it’s all about usability.  This means providing opportunities for the tokens to be used in verticals that are synergistic and leveraging partnerships such as our relationship with Freebitco.in to bring in participants.  With nearly 50M players they provide access to a substantial user base and traffic which will help FUN get to mass adoption rapidly.

Q: In the past days, the U.S. SEC Chair, and other politicians have expressed concerns about Bitcoin, stablecoins, and cryptocurrencies in general. They referred to the crypto market as “The Wild West”, as the head of a crypto project, what do you think about the possibility of new regulations coming into the industry? What do you think it’s the best approach for the regulator?

A: I am not a regulator and so would rather not comment on what they should do.  Ultimately the crypto markets are already becoming more and more regulated where they touch on the “real world” in areas such as cashiers and exchanges relating to banking.  No doubt this will continue.

Q: FUNToken has been expanding in the past months, with important partnerships with Free Bitco.in, Travala and Binance, what can your community expect in the coming months in terms of partnerships? And where do you think the platform will be in 2022?

A: We will be adding more gambling opportunities and fine-tuning the user interface for XFUN.  By creating a user-friendly, zero gas environment on the Polygon network we enable the seamless interchange of funds between our users and participating entities.  We will be launching a B2B drive later this year to substantially increase the places where XFUN can be used and drive liquidity and users into the token.  It is important to remember that XFUN=FUN – for every XFUN issued one FUN will be escrowed, so the increase in usage of XFUN will directly impact the tokenomics for FUN.

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The #Quasacoin (QUA) crypto-crowdfunding campaign is the first cryptocurrency that brings people together

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The #Quasacoin (QUA) crypto-crowdfunding campaign is the first cryptocurrency that brings people together

The QUASA platform is being created to solve the biggest problem facing humanity, namely to solve the problem of unemployment, so that people can find a job they love, provide for themselves and their families.

With the move to blockchain and the use of artificial intelligence, QUASA is creating a new environment that will revolutionize our daily work.

QUASA is the starting point for the growth and coordination of the Quasa Chain blockchain.

Combining the most brilliant minds in global trade, information security, blockchain, and artificial intelligence, QUASA aims to fix the inefficiencies in a $150 trillion USD industry.

#Quasacoin (QUA) is the first cryptocurrency that brings people together.

Monetization of QUASA services occurs at the last stage of each case of successful completion of the task by any performer in the form of a reward, instantly increasing the demand for QUA tokens.

The use of QUA tokens is a prerequisite for working on the QUASA platform.
Payment for QUA services with tokens allows you to get a 5-10% discount.

Quasacoins (QUA) value is supported by the real services offered by the QUASA platform.

In the QUASA ecosystem, some rewards will only exist in the form of Quasacoins (QUA).
Ultimately, QUASA will roll out the acceptance of QUA tokens as a means of payment on the QUASA subsidiary platforms. Quasacoin token (QUA) is listed on the Uniswap exchange. 

Token Info:
• Name: Quasacoin
• Symbol: QUA
• Total Supply: 62,445,870 QUA
• Supply AIO: 10,000,000 QUA
• Contract Address: 0x4dAeb4a06F70f4b1A5C329115731fE4b89C0B227

QUA is the governance token of the QUASA platform.

AIO crypto auction start and end date

The QUASA AIO crypto auction began on September 7 and will last exactly one month, and will end on October 6, 2021.
The number of QUA tokens for distribution at the auction is limited to 10 million QUA.
The total emission of QUA tokens to be issued by the QUASA project is only 64 million QUA.

You can take part in a crypto crowdfunding campaign on the Kickico platform and become the owner of the first cryptocurrency that brings people together, Quasacoin (QUA).

To participate in an AIO project as a backer, you will need to perform the following steps:

1. Registration on the KickICO platform or on the KickEX cryptocurrency exchange
After registration, it is necessary to pass the verification of identity (KYC). 

2. How to apply for token purchase
Specify the number of tokens you want to purchase and the price of the token in USDT.

Control the situation — after you send your bid to the order book, others will appear in it, so you may be outstripped or moved by higher rates down so much that you may not be in the winning zone, and all tokens will be redeemed by participants who have offered a higher price.

3. AIO token sale procedure
The sale of tokens is carried out at the end of the trading day, immediately. The orders with the highest price are executed first. Bids with the lowest price are executed last.

If all the offered tokens of one trading day were redeemed by participants who offered a higher price, then other participants whose rates are lower will not get anything. In this case, unexecuted orders will be cancelled and users’ funds will be returned to their wallets in the Kick Ecosystem.

60 days after the completion of QUASA AIO, the Quasacoin (QUA) token will be listed on the Kickex exchange.

YOUR BENEFIT DIRECTLY DEPENDS ON THE STAGE IN WHICH YOU LOG IN TO QUASA.

The quantity of QUA is limited! There are only 10 million Quasacoins (QUA) listed for the crypto auction.

QUASA is registered in Germany – full name Quasa International GmbH

Quasa is no longer a software company, but a company that brings people together. 
The Quasa network is made up of a large number of diverse storage providers and developers. This creates a robust and reliable service.
Quasa creates a one-stop digital assistant so people can find the jobs they love and support themselves and their families.

The QUASA team consists of more than 25 people, mostly software developers!

The QUASA team is a unique combination of specialists with advanced experience in the development and implementation of large blockchain systems.

Disclaimer: This is a Paid Press Release. Any information contained in this website is not proposed to be and doesn’t constitute financial advice, investment advice, trading advice, or any other advice. TheNewsCrypto is not responsible to anyone for any decision made or action taken in conjunction with the information and/or statements in this press release.

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Sypool Lists on AscendEX

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Sypool Lists on AscendEX

AscendEX is excited to announce the listing of the Sypool token (SYP) under the trading pair USDT/SYP on Sept. 21 at 1 p.m. UTC. AscendEX will be integrating Staking and DeFi Yield Farming functionalities for Sypool. In celebration of the SYP listing, AscendEX and the SYP team will launch a number of limited-time promotional events, taking place between 12:00 a.m. UTC, on Sept. 22, and 12:00 a.m. UTC, on Sept. 29, 2021. By depositing and trading SYP tokens, users will have the chance to share SYP pooled rewards worth up to 100,000 USDT.

Sypool is a cross-chain asset management protocol that allows users to design, build, and manage their portfolios in one place. Sypool is unique in that it is a synthetic asset management protocol where investors exchange SPL fund shares for tokens. Like traditional funds, investors are offered professional financial services, while fund managers are provided with a derivatives trading platform to utilize. 

Sypool’s protocol is based on Synthetic Asset Pools (SAP), a form of DeFi Yield Farming. Pools are launched by pool managers and funded by users. The protocol protects users’ interests by involving four parties in each pool: the user, the manager, the exchange, and the oracle. The pool token holders are authorized to oversee the tokens in the pool according to specific preset strategies. Users can participate in the protocol by choosing their favorite pools and minting SAP tokens. If a user’s investment strategy changes, SAP tokens can be easily redeemed from protocol at any time. 

The native token, SYP can be used to farm, trade, vote, and mint SAP tokens while distributing rewards to the community. Sypool acts like a blockchain fund because its shares are tokenized. AscendEX’s listing of Sypool’s token provides traders with the opportunity to gain valuable exposure to crypto derivative asset markets without the need to participate in them directly. 

Sypool has created low-barrier access to sophisticated and powerful financial instruments by combining derivatives and DeFi. Sypool’s innovative product offering has taken cues from traditional financial services in off-chain environments and rebuilt them for on-chain blockchain-based ecosystems. 

About AscendEX 

AscendEX is a global cryptocurrency financial platform with a comprehensive product suite including spot, margin, and futures trading, wallet services, and staking support for over 150 blockchain projects such as bitcoin, ether, and ripple. Launched in 2018, AscendEX services over 1 million retail and institutional clients globally with a highly liquid trading platform and secure custody solutions. 

AscendEX has emerged as a leading platform by ROI on its “initial exchange offerings” by supporting some of the industry’s most innovative projects from the DeFi ecosystem such as Thorchain, xDai Stake, and Serum.  AscendEX users receive exclusive access to token airdrops and the ability to purchase tokens at the earliest possible stage. To learn more about how AscendEX is leveraging best practices from both Wall Street and the cryptocurrency ecosystem to bring the best altcoins to its users, please visit www.AscendEX.com.

For more information and updates, please visit:

Website: https://ascendex.com

Twitter: https://twitter.com/AscendEX_Global

Telegram: https://t.me/AscendEXEnglish

Medium: https://medium.com/ascendex

About Sypool

Sypool is a cross-chain asset management protocol that allows users to design, build and manage portfolios in one place. Sypool is also a synthetic asset management protocol where investors exchange SPL fund shares with their tokens.

For more information and updates, please visit:

Website: https://sypool.io/    

Twitter: https://twitter.com/SYP_Protocol

Telegram: https://t.me/sypool_protocol

Medium: https://medium.com/@SYP_Protocol

Disclaimer: This is a paid Press Release. Any information contained in this website is not proposed to be and doesn’t constitute financial advice, investment advice, trading advice, or any other advice. TheNewsCrypto is not responsible to anyone for any decision made or action taken in conjunction with the information and/or statements in this press release.

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TA: Ethereum Breaking This Confluence Resistance Could Spark a Recovery

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Ethereum

Ethereum started a major decline below the $3,200 support zone against the US Dollar. ETH price traded as low as $2,807 and it is now attempting a recovery wave.

  • Ethereum started a fresh decline below the $3,300 and $3,200 support levels.
  • The price is now trading below $3,200 and the 100 hourly simple moving average.
  • There is a key bearish trend line forming with resistance near $3,020 on the hourly chart of ETH/USD (data feed via Kraken).
  • The pair could a steady recovery wave if there is a close above $3,050 in the near term.

Ethereum Price Corrects Losses

Ethereum started a major decline from the $3,500 resistance zone. ETH traded below many important support zones near $3,300 and the 100 hourly simple moving average, similar to bitcoin.

The bears gained strength below the $3,200 support zone. Finally, ether spiked below $3,000 and extended its decline. A low is formed near $2,807 and the price is now correcting losses. There was a break above the $2,920 and $2,950 resistance levels.

The price recovered above the 23.6% Fib retracement level of the recent decline from the $3,455 swing high to $2,807 low. An immediate resistance on the upside is near the $3,020 level. There is also a key bearish trend line forming with resistance near $3,020 on the hourly chart of ETH/USD.

Source: ETHUSD on TradingView.com

A close above the $3,020 and $3,050 levels could start a decent recovery. The next major resistance might be near the $3,130 level. It is near the 50% Fib retracement level of the recent decline from the $3,455 swing high to $2,807 low. A clear break and close above the $3,130 level could start a steady increase. The next major resistance sits near $3,300.

More Losses in ETH?

If ethereum fails to correct higher above the $3,020 and $3,050 resistance levels, it could start another decline. An initial support on the downside is near the $2,960 level.

The next major support seems to be forming near the $2,900 level. A downside break below the $2,900 support zone could lead the price towards the $2,800 zone. The next major support is near the $2,750 level, below which ether price might decline towards the $2,640 support zone.

Technical Indicators

Hourly MACDThe MACD for ETH/USD is slowly losing pace in the bearish zone.

Hourly RSIThe RSI for ETH/USD is still well below the 50 level.

Major Support Level – $2,960

Major Resistance Level – $3,050

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TA: Bitcoin Dives To $40K, Why Recovery Could Be Capped

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Bitcoin

Bitcoin price settled below $46,000 and declined heavily against the US Dollar. BTC even traded close to $40,000 before starting an upside correction.

  • Bitcoin is down over 10% and it broke the $45,000 and $43,000 support levels.
  • The price is now trading below $43,000 and the 100 hourly simple moving average.
  • There is a major bearish trend line forming with resistance near $43,100 on the hourly chart of the BTC/USD pair (data feed from Kraken).
  • The pair could resume its decline if it fails to recover above the $43,000 zone.

Bitcoin Price Corrects Losses

Bitcoin price failed to stay above the $46,000 support zone. As a result, there was a sharp decline in BTC below the $45,000 level (as discussed yesterday).

The price broke many support zones near $44,000 and $43,000 to enter a bearish zone. The decline gained below $42,000 and the price settled below the 100 hourly simple moving average. It traded close to $40,000 and a low was formed near $40,200.

Bitcoin is now correcting higher and it broke the $41,500 level. The price was able to surpass the 50% Fib retracement level of the recent drop from the $44,250 swing high to $40,200 low.

An immediate resistance on the upside is near the $43,000 level. The first major resistance sits near the $43,100 level. There is also a major bearish trend line forming with resistance near $43,100 on the hourly chart of the BTC/USD pair.

Source: BTCUSD on TradingView.com

The trend line is close to the 76.4% Fib retracement level of the recent drop from the $44,250 swing high to $40,200 low. To start a strong recovery, the price must clear the $43,100 resistance. The next major resistance is near the $44,000 zone, above which the price could revisit the $45,000 resistance.

More Losses In BTC?

If bitcoin fails to clear the $43,100 resistance zone, it could resume its decline. An immediate support on the downside is near the $42,200 level.

The next major support is near the $41,500 zone. A downside break below the $41,500 zone could trigger a fresh decline towards the $40,500 level or even $40,000.

Technical indicators:

Hourly MACD – The MACD is slowly gaining pace in the bullish zone.

Hourly RSI (Relative Strength Index) – The RSI for BTC/USD is still well below the 50 level.

Major Support Levels – $41,500, followed by $40,500.

Major Resistance Levels – $43,000, $43,100 and $44,000.

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Did Turkey’s President Say “We Are In A War Against Bitcoin”? An Investigation

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War against Bitcoin, people with Turkish flags

Is President Erdogan so out of touch with what’s happening around him that he declared war against Bitcoin? Or is this a case of “lost in translation” and quotes out of context? An article titled “We are in a war against bitcoin,” says Turkey’s president” has been making the rounds over at Bitcoin-Twitter, receiving both mockery and rightful criticism. However, we noticed a crucial detail: the article doesn’t contain a direct quote from Erdogan. That’s suspect.

Related Reading | New To Bitcoin? Learn To Trade Crypto With The NewsBTC Trading Course

Armed with an iron will and Google Translate, NewsBTC explored the issue and came to unexpected conclusions. 

Let’s fall into the rabbit hole.

Is It War Against Bitcoin Or War Against Cryptocurrencies? 

The original article cited a mainstream and generally trusted source, an article in Turkish at Bloomberght titled “Erdogan: We have a separate war against cryptocurrencies.” Reportedly, the president held a Youth Meeting Program, so his audience for this was students from all over the country. They were discussing the Digital Turkish Lira, the country’s proposed CBDC, and one of the participants asked about their current views on cryptocurrencies:

“Erdoğan said that they do not have a problem of opening up to crypto money, on the contrary, they have a separate war and struggle against them.

Erdogan said, “We will not give them such a premium, nor will we. Because we will continue on our way with our money, which is our fundamental identity in this matter.”

He never even mentions a war against Bitcoin. Remember, this is a Google translation and some info might’ve been lost. However, the discrepancies are there. The President says they “do not have a problem” with crypto, but that “on the contrary, they have a separate war and struggle against them.” On the contrary to what? And do notice, it’s not a direct quote either. In the actual Erdogan quote, he says nothing about a war against Bitcoin.

We need more data. Let’s consult other sources.

What Did President Erdogan Say Exactly?

A quick search leads us to The New Arab. They don’t quote the President directly, but their translation makes much clearer the intent of what he said:

“Erdogan claimed that the country “definitely” doesn’t have a problem with the spread of digital assets.     

However, that Turkey would carry on with its own money, which he believes is part of the national identity.”

They don’t have a problem with the spread of digital assets because they’re preparing their CBDC, and their way to sell it is that money is “part of the national identity.” Got it. But, what about this war against Bitcoin thing?

A second search leads us to Newsbit, who seemingly quote a much more clear-headed President Erdogan directly:

“We have absolutely no intention of embracing cryptocurrencies,” the president replied, adding: “On the contrary, we have a war against them. We would never support cryptocurrencies. Because we continue with our own currency that has its own identity.”

Ok, now we know that Erdogan never said anything about a war against Bitcoin and always referred to cryptocurrencies. And that, in code, he was always talking about the Digital Turkish Lira. However, did he really say all that? That quote seems suspiciously close to the original Bloomberg quote, and that one wasn’t literal. If the President said everything that clearly, why wouldn’t Bloomberg quote him?

BTC price chart for 09/20/2021 on Exmo | Source: BTC/USD on TradingView.com

Time To Consult Primary Sources

Luckily for us, Newsbit linked to the Anadolu Agency, a Turkish state-run news agency. This is as close to primary sources as we’re going to get. A report on the whole event that only casually mentions cryptocurrencies at the end. Is the quote present in that report? What did President Erdogan say exactly? Well, according to the Anadolu Agency:

“Erdoğan said that they do not have a problem of opening up to crypto money, on the contrary, they have a separate war and struggle against them.

Erdogan said, “We will not give them such a premium, nor will we. Because we will continue on our way with our money, which is our fundamental identity in this matter.”

Related Reading | Turkey’s Economic Turmoil Shows Bitcoin Is a Better Bet Than Emerging Markets

That’s right! The same exact quote with the same exact wording that Bloomberg used at the beginning. So, Bloomberg literally copied and pasted their article. And Newsbit’s supposed quote is just a rewording of that phrase. We don’t know exactly what President Erdogan said, but at least his intention is clear: Yes to his CBDC. War on cryptocurrencies. And we know for sure he never said anything about a war against Bitcoin.

Cryptocurrencies and Bitcoin are not synonymous, journalists.

Featured Image by Faruk Melik ÇEVİK on Unsplash - Charts by TradingView

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With Bitfinex Integration, Can the Bulls Drive the Price for Polygon (MATIC)?

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With Bitfinex Integration, Can the Bulls Drive the Price for Polygon (MATIC)?
  • Twitter’s Altcoin Sherpa endorsed MATIC.
  • Polygon said MATIC token would soon be available on Bitfinex.

Since the market sell-off on September 7, MATIC has been attempting to regain its initial bullish momentum. Although lower highs outlined its positive trend, traders were unable to maintain prices.

Its recent rise from $1.20 may be beneficial if another higher high forms. Bulls would lose out if the market closed below the 23.6 percent Fibonacci threshold. According to CoinMarketCap,  Polygon price is $1.19 USD with a 24-hour trading volume of $1,143,929,659 USD.

Closing over $1.50 would have solidified an uptrend, but that wasn’t the case yet. A pair of red candlesticks on the charts signalled the end of MATIC’s next upcycle.

While MATIC’s trend is perplexing, the signs have improved. On September 15, the RSI climbed above the half-line and briefly into the overbought zone, indicating a bullish rebound. Bulls held sway as the RSI found support around the mid-line.

A Positive Trend Maybe Anticipated

Twitter’s Altcoin Sherpa endorsed MATIC. Despite the token’s current consolidation, prediction is of significant increases in the following run. As per the tweet, it expects MATIC to hit $1.75 on the next leg up.

MATIC was trying to build an uptrend following a double top formation, but market watchers were sceptical. The bulls had an advantage in each case, and a win is not out of the question. A positive trend may be anticipated if MATIC rebounds back from the 38.2% Fibonacci level and reaches $1.50.

Polygon just tweeted that MATIC token would soon be available on Bitfinex. It’s one of the oldest and most reputed liquid exchanges.

Thanks to Bitfinex’s integration, users will access MATIC on all major exchanges, including Coinbase and Binance. Also, it can act as a catalyst to bring back the lost momentum for MATIC.

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SushiSwap Fails to Break Major Resistance Area, Can it Break-Through?