Connect with us


Commercial Loan Repayment – Can You Handle the Truth?



Both in times of economic growth and recession, you hear the need for governments and especially banks to provide loans to small businesses to spur and expand the economy. Well, understanding that our economy is based on credit, I don’t see any wrong with these sentiments at all. However, what you don’t hear often enough are about the small businesses that won’t and in most instances simply can not repay the loan once it’s obtained. Let’s not even talk about payoff. This part of business lending doesn’t get enough press as it should. Not in a way that would scare or intimidate people from starting and operating businesses with commercial loans, but in a way… yes. Here’s why…

Know What You’re Really Getting Into By Getting a Business Loan

Oh let me count the ways… not really, but maybe one day. For now, though, understand that if and when you apply for and obtain a commercial loan, YOU MUST PAY BACK WHAT YOU OWE WITH INTEREST. Common sense you may say, but not so common I would respond. Business loans from a bank with or without a government guarantee ARE NOT GRANTS. Not to sound contrarian, but one way or the other, you will repay. OK, even in the event that the bank or lending source has to take a loss, trust me, the probability of getting a business loan anytime soon is really low. Not saying impossible, but damn close my friends.

Why is Business Loan Repayment Important?

Credit rating and reporting… need I say more. Both personal and business credit ratings and reports are significantly impacted by your ability to pay on time and as agreed. Again, our economy is built and functions on the foundation of credit. This is another way of saying you are trustworthy and operate with integrity. Heck, if you don’t pay people let alone the bank on time and as agreed, then you’re not operating as a trustworthy person. Now, there’s an understanding that life happens and unfortunate events befall the best of us. I would venture to state that there’s mercy for the person that communicates these life happenings in a proactive manner rather than running for the hills and hiding.

Understand and take to heart then that business loans are NOT FREE MONEY. Know the details and full scope of what you’re signing up for and plan accordingly in the event life happens.

google news


TA: Bitcoin Price Consolidates, Why Break above $43.5K Is The Key




Bitcoin started a downside correction from $44,500 against the US Dollar. BTC is stable above $42,800 and the bulls might aim a fresh increase above $43,500.

  • Bitcoin is trading in a positive zone above $42,500 and $42,800.
  • The price is trading below $43,500 and the 100 hourly simple moving average.
  • There is a key contracting triangle forming with resistance near $43,200 on the hourly chart of the BTC/USD pair (data feed from Kraken).
  • The pair could start a major increase if there is a clear move above the $43,500 resistance.

Bitcoin Price Is Holding Support

Bitcoin price extended increase above the $44,000 resistance zone. BTC even spiked above the $44,200 level before it faced sellers.

A high was formed near $44,400 and the price started a fresh decline. There was a clear move below the $43,500 and $43,200 levels. The price even dived below the $42,500 support and a close below the 100 hourly simple moving average.

A low was formed near $41,800 before the price started an upside correction. It traded as high as $43,791 and is currently consolidating. Bitcoin price is trading below $43,500 and the 100 hourly simple moving average.

An immediate support is near the 50% Fib retracement level of the recent increase from the $41,800 swing low to $43,791 high. Besides, there is a key contracting triangle forming with resistance near $43,200 on the hourly chart of the BTC/USD pair.

Source: BTCUSD on

On the upside, an initial resistance is near the $43,200 level. The next major resistance is near the $43,500 level. A clear move above the $43,500 level might send the price towards the $44,000 resistance. Any more gains may perhaps call for a test of the $44,200 resistance zone. The next major resistance is near the $45,000 level.

Fresh Decline in BTC?

If bitcoin fails to start a fresh increase above $43,500, it could start a fresh decline. An immediate support on the downside is near the $42,800 zone.

The first major support is seen near the $42,500 zone. It is near the 61.8% Fib retracement level of the recent increase from the $41,800 swing low to $43,791 high. A downside break below the $42,500 support zone could lead the price towards the $41,800 level.

Technical indicators:

Hourly MACD – The MACD is slowly losing pace in the bearish zone.

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

Major Support Levels – $42,800, followed by $42,500.

Major Resistance Levels – $43,200, $43,500 and $44,200.

google news
Continue Reading


Sports NFT Marketplace Lympo Suffers An $18.7 Million Hack




The latest in the industry is the hacking of Lympo, a sports NFT platform and a subsidiary of Animoca Brands. Through hot wallet hacking, the platform just lost about 165.2 million LMT tokens, equivalent to $18.7 million during the time of this hack.

Cryptocurrency hacking, though not frequently experienced, remains of the risks that some protocols have to suffer.

An update through Medium from the Lympo team confirms the recent hacking from the platform on Jan 10. According to the report, the hackers accessed the protocol’s operational hot wallet and looted about 165.2 million LMT tokens.

Related article | Is Norton 360 Mining Ethereum In Your Computer? If It Is, They’ll Take a 15% Cut

Furthermore, the post revealed that the cybersecurity attack led to the compromise of 10 different project wallets. Also, the majority of the hacked tokens were moved to one single address from where they were swapped on both Sushiswap and Uniswap for Ether (ETH) and were later transferred somewhere else.

With this looting of the LMT from its hot wallets, the price of the token plummeted by 92% to $0.0093.

Lympo Team To Fix Grudges

Subsequently, the protocol’s team released a tweet stating that they are striving to stabilize the circumstance as well as to return their operations to normal. Additionally, the team mentioned its removal of liquidity LMT from liquidity pools. According to them, this will help in reducing the crypto price disruption.

Moreover, the team by the early hours of Jan 11, advised traders to place a hold on the buying and selling of LMT tokens. They intend to first complete their investigation and outline their possible line of action.

With the removal of liquidity from pool trading LMT, there will be a negative effect for traders. This means the traders can’t buy or sell remarkable token amounts without encountering some value loss.

Being a subsidiary of Animoca Brands, the Animoca teams has fully thrown their support to Lympo. In one of his speeches, Yat Siu, the CEO of Animoca said that they are helping Lympo with for recovery though they have not taken any specific mechanism for that.

Another Crypto Hacking On Hot Wallet

Similar to Lympo’s hot wallet security breach, a centralized crypto exchange, LCX, on Jan 8, lost about $7 million from its hot wallet. This hacking cuts across 8 different crypto coins on the exchange.

Most of the funds from the LCX hacking were swapped for ETH. The proceeds were later transferred to Tornado Cash which is a privacy tool with the feature of concealing both the source and destination of ETH tokens. The LCX hacking involved different amounts of LINK, MKR, USDC, ETH, LCX, SAND, QNT, and ENJ.

Related article | More Green Energy: Crypto Mining Saves A Hydro Power Plant In Costa Rica

Through its update on January 10, the LCX notified its users of its compensation plan for their losses. Also, it assures them that there was no compromise of any personal data from the attack.

Featured Image from Pexels

google news
Continue Reading


Walmart All-set to Enter NFT and Metaverse Arena



Walmart All-set to Enter NFT and Metaverse Arena
  • There have been a total of seven distinct applications for consideration.
  • Nike purchased RTFKT, a virtual sneaker firm, in December.

Following last year’s false allegations regarding Walmart and Litecoin, the US retail behemoth has formally filed documentation with local authorities to join the cryptocurrency and metaverse arena. According to reports, Walmart aims to develop its own cryptocurrency and non-fungible tokens (NFTs) in the metaverse.

Recently, the big-box store filed many new trademarks showing its intention to produce and sell virtual items, such as electrical devices, home décor and furnishings and a toy or recreational equipment and personal hygiene products. NFTs and a virtual currency will be offered to customers, according to the company’s application.

It has been reported that Walmart submitted the applications on December 30th, according to the United States Patent and Trademark Office. There have been a total of seven distinct applications for consideration.

Major Players Are Already Onboard

According to Gerben, trademark attorney, companies have been scrambling to find out how they would fit into the virtual world since Facebook announced it was changing its corporate name to Meta, suggesting its goals beyond social networking.

Sneaker and clothing company Nike has filed many trademark applications indicating that it intends to offer virtual versions of its products. Within a few days, it was announced that Nike would be collaborating with Roblox to build a whole new virtual environment dubbed Nikeland. It purchased RTFKT, a virtual sneaker firm, in December.

Gap has recently begun offering non-traditional T-shirts with the company’s trademark emblem. NFTs will be sold in levels ranging from $8.30 to $415 and come with a tangible hoodie, according to the fashion company. Adidas and Under Armour’s NFT releases sold out last month, as well. OpenSea’s NFT marketplace has seen a surge in demand for these items.

google news
Continue Reading