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Blockstream Mining Starts Third Investment Round for Hashrate-Backed Tokenized Note

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The EU-compliant security token gives investors exposure to the hashrate over a four-year period.

Blockstream Mining said it is opening a third round of investment for its hashrate-backed tokenized note, which gives participants a slice of the bitcoin (BTC) earned from the company’s mining activities over the next four years.

Two earlier rounds of the BMN2 note raised a total of around $7 million. The third will be priced at $31,000 and give holders the bitcoin produced by 1 petahash per second (PH/s) of hashrate. The sale will last for three weeks, a company spokesperson said in an interview. Blockstream is targeting $10 million in investment for the latest round.

“Blockstream is able to offer mining for under 4.5 cents per kilowatt-hour (kWh), which is far below the industry average,” the spokesperson said. “Anyone investing in BMN2 will benefit from access to the most cost-effective mining around.”

The company, co-founded by legendary bitcoin developer Adam Back, is working with Stokr for the sale of the note.

Crypto markets are becoming increasingly financialized, and hashrate-backed contracts are not new. What’s unique about Blockstream’s note is its duration. Most contracts lock in the hashprice for up to 12 months, James Macedonio, Blockstream’s SVP global head of mining sales and business development, said. BMN2, an EU-compliant security token, gives exposure to the bitcoin hashrate over a 48-month period.

Hashrate refers to the total combined computational power used to mine and process transactions on a proof-of-work blockchain and is a proxy for competition in the industry and mining difficulty. Hashprice is a mining metric that calculates revenue on a per terahash basis, and is computed using network difficulty, the bitcoin price, the block subsidy and transaction fees.

The advantage of buying Blockstream’s BMN2 note instead of buying hashrate futures from bitcoin mining companies is that investors are not exposed to counterparty risk or possible miner failures, and the price is locked in for four years, Macedonio said. Furthermore, the market hashprice adjusts quarterly, and is dependent on mining efficiency, and passes through risks such as energy price and counterparty risk, he added.

“With the bitcoin mining market currently experiencing historically low hashprice levels, BMN2 allows investors to strategically enter the market at an opportune time,” the company said in a July release announcing the note.

In a report last month, Wall Street giant JPMorgan (JPM) noted that the hashprice is about 30% below levels seen in September 2022 and about 40% below the level before April’s reward halving.

Investors in the note’s predecessor, BMN1, were mainly international family offices and funds in Europe, Macedonio said. While BMN2 is starting to see interest from U.S. institutions, the product is not being offered there yet, he said. Macedonio said many BMN1 investors rolled over their investment into BMN2.

BMN1 was highly successful. It “mined over 1,242 BTC and delivered returns of up to 103% over its three-year term,” Stokr said on its website. It is the “highest payout in real world asset (RWA) security token history,” according to Arnab Naskar, co-founder and co-CEO of Stokr.

BMN2’s first two investor rounds started on July 18 and ended Aug. 12. Anchor investors who committed over $500,000 in investment were given a discount and invested in series 1. Investors who rolled over their investment from Blockstream’s BMN1 note and new backers invested in series 2.

Money raised from the sale of the note is used to manage physical infrastructure and energy costs because Blockstream is responsible for producing the hashrate that backs the note. The company has mining facilities in Georgia, Montreal and Texas.

The tokenised note will trade on crypto exchange Bitfinex.

Ether CME Futures Volume Shrinks as ETH ETFs Disappoint, Crypto Market Ducks Risk

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The decline in trading volumes for ETH instruments suggests lower-than-expected institutional interest in the asset, particularly following the launch of spot ether ETFs, according to CCData.

Exchange-traded funds (ETFs) tied to the ether (ETH) price debuted in the U.S. late July, opening doors for investors seeking exposure to the cryptocurrency while bypassing the hassle of storing it.

Since then, activity in ether derivatives listed on the Chicago Mercantile Exchange (CME) has cooled, according to CCData, a digital assets data provider based in London.

Trading volume in ether futures declined 28.7% to $14.8 billion in August, the lowest since December 2023. Volume in ether options fell 37% to $567 million.

“This decline in trading volumes for ETH instruments suggests lower-than-expected institutional interest in the asset, particularly following the launch of spot ETH ETFs,” CCData noted. “The reduced inflows into spot ETH ETFs in August further support this trend. Additionally, seasonality effects in August may have also contributed to the decreased trading activity, with this trend likely to continue into September.”

Before the advent of spot ETFs, futures and futures-based ETFs were the only regulated avenues available for traditional stateside institutions. The spot products are generally perceived as superior to futures-based ETFs as the latter are vulnerable to “contango bleed.” That said, demand for spot ETFs has not been impressive either.

Data tracked by Farside Investors show ether ETFs have registered a net outflow of over $500 million since their debut. Bitcoin ETFs, in contrast, saw a net inflow of over $300 million in the first six weeks.

“The launch timing of U.S. spot Ether ETFs on 23 July turned out to be less than ideal, coinciding with a tech stock sell-off. Ether’s high beta (~2.7) implies high losses in periods of risk aversion, and Ether prices had now seen a 30% drawdown since launch,” DBS Treasuries said in a market insights post on Wednesday.

Ether’s price fell over 22% to $2,512 in August, its biggest monthly percentage slide since June 2022, amid volatility in traditional markets and crypto market leader bitcoin.

Shift toward bitcoin

Globally, there has been a shift toward market leader bitcoin, a sign crypto investors are becoming risk averse in the wake of the stalled bull run.

In August, volume in CME’s bitcoin futures rose 3.74% to $104 billion, according to CCData. Still, the volume of BTC options traded fell 13.4% to $2.42 billion.

Data tracked by Wintermute show bitcoin futures now account for 48% of the total notional open interest in the crypto futures market, while alternative cryptocurrencies, including ether, account for the rest. In March, when optimism was at its peak, bitcoin represented just 31% of the global open interest.

“This shift toward higher market cap assets like bitcoin signals a more conservative market sentiment, with traders displaying less appetite for risk and speculative positions in smaller, more volatile cryptocurrencies,” Jake Ostrovskis, an over-the-counter trader at Wintermute, said in a market note shared with CoinDesk.

Here’s What the Press Around the World Predicts Vietnam vs. Russia Match Result

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Global sports outlets have been speculating about the result of the highly anticipated friendly match between Vietnam and Russia, scheduled for 8:00 p.m. on September 5 at My Dinh Stadium.

This evening, Vietnam will face a formidable challenge as they go head-to-head with Russia. In the latest FIFA rankings, Vietnam sits at 115th, while Russia holds a far superior position at 33rd.

Despite the uphill battle ahead, Vietnamese fans remain hopeful, believing that coach Kim Sang Sik and his team can defy expectations and deliver a remarkable performance.

International sports publications, however, are largely predicting a win for Russia. Indian outlet Sportskeeda noted, “The Vietnamese team is currently ranked 115th globally and has struggled throughout 2024, losing seven of their last eight matches. Their lone victory came with a 3-2 win over the Philippines in the World Cup qualifiers.”

With the V-League set to begin and the 2024 AFF Cup approaching, Vietnam aims to build momentum through victories on home soil. Coach Kim Sang Sik has called up 26 players to prepare for back-to-back matches against Russia and Thailand. Notably, striker Tien Linh, who has scored 20 goals in 46 appearances for Vietnam, remains sidelined for official matches since 2022. Recently, Russia demonstrated their strength in friendly matches with commanding 4-0 victories over both Serbia and Belarus. Earlier, they also thrashed Cuba 8-0.

This will be the first official encounter between the two sides. However, given Russia’s higher caliber, many predict Vietnam will face difficulties in ending their losing streak.

Sportskeeda has forecasted a 3-0 win for Russia, stating, “The Russian team is clearly superior, and Vietnam may struggle to recover from their recent poor form.”

Football Predictions also suggested a comfortable win for Russia, predicting a 2-0 victory. The outlet commented, “Russia should easily secure a clean sheet, as Vietnam continues to face challenges in their attacking play.”

Meanwhile, Indonesian site Nobartv expressed doubts about Vietnam’s ability to compete against a European powerhouse like Russia, forecasting a 2-1 defeat for Vietnam. They expect coach Kim Sang Sik to deploy a 4-4-2 formation, featuring Tien Linh and Phan Van Duc as the attacking duo.

Another Indonesian publication, Bola, echoed this sentiment, pointing out that Vietnam is still in the process of regaining stability under coach Kim Sang Sik. In contrast, Russia boasts a cohesive squad, with most players competing domestically. Remarkably, Russia has kept a clean sheet in four of their last five matches.

Bola predicted a 3-1 victory for Russia.

Typhoon Yagi Strengthens to Level 15, Poised to Become a Super Typhoon with Devastating Winds and Heavy Rainfall Expected

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Typhoon Yagi has intensified to a level 15 storm, with winds reaching 167-183 km/h and gusts surpassing level 17, and it may escalate into a super typhoon within the next 24 hours.

As reported by the National Center for Hydro-Meteorological Forecasting, at 4:00 a.m. on September 5, the storm’s center was located at approximately 19.1 degrees North latitude and 116 degrees East longitude, over the northern waters of the East Sea, about 550 km east of Hainan Island, China. The strongest winds near the center reached level 15, with gusts above level 17, as the storm moved westward at around 10 km/h.

By 4:00 a.m. on September 6, Typhoon Yagi is expected to be about 210 km east of Hainan Island, with winds at level 16 and gusts at level 17, moving at 10-15 km/h in a west-northwest direction.

The following day, the storm, which will be the third named storm of the season, is forecasted to weaken to level 13-14 as it approaches the northern Gulf of Tonkin, while gusts remain above level 17. It will continue to move west-northwest at 15-20 km/h, gradually losing strength.

By September 8, Yagi is predicted to weaken into a tropical depression with winds at level 6 and gusts at level 8, moving at 20 km/h towards the northwest.

As the storm approaches, the northern East Sea region will experience strong winds ranging from level 11 to 13, with areas near the center of the storm seeing winds up to level 14-16 and gusts above level 17. The seas will be rough, with waves reaching 7-9 meters and up to 10-12 meters near the storm center.

The Gulf of Tonkin is forecasted to have strong winds between levels 10 and 12 from the night of September 6, with winds near the storm center reaching levels 13-14 and gusting to level 17.

The National Center for Hydro-Meteorological Forecasting has issued a warning of potential heavy rainfall across Northern and North Central regions from September 6 to September 9, with localized thunderstorms and total rainfall ranging from 100-300 mm, and some areas possibly exceeding 500 mm.

In addition, the Central Highlands is expected to see moderate to heavy rainfall on the afternoon and night of September 5, with rainfall ranging from 20-40 mm, and some areas receiving more than 80 mm.

Mr. Dinh Huu Duong, Head of the Forecasting Department at the Hydrometeorological Station of the Northern Delta and Midlands, noted that from September 7 to 9, mainland Vietnam would be impacted by Typhoon Yagi, bringing heavy rainfall to Hanoi from September 7 to 8. There is also a risk of severe thunderstorms as early as September 6, which could lead to urban flooding in Hanoi. Flooding is also expected in river basins such as Tich, Ca Lo, and Bui Rivers, as well as in some low-lying communes of Chuong My District in Hanoi.

Champa Treasures Unveiled to the Public for the First Time

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To commemorate the 79th anniversary of the August Revolution and National Day (September 2, 1945 – 2024), the National Museum of History has organized a special exhibition titled “Champa Treasures – Marks of Time.” The exhibition is divided into two sections: “Religious Statues and Mascots” and “Jewelry and Objects with Religious and Royal Significance.”

The “Religious Statues and Mascots” section showcases intricately designed gold and silver statues adorned with precious stones. Champa, like other ancient Southeast Asian civilizations, was influenced by Hinduism and Buddhism, resulting in statues of gods, Buddhas, and sacred animals that reflect the religious and cultural traditions of these faiths.

In the “Jewelry and Objects with Religious and Royal Significance” section, visitors can admire beautifully crafted jewelry and items symbolizing religious authority and royal power. These items, such as earrings, necklaces, rings, and crowns, often bear Hindu motifs and were used in religious ceremonies or by the Champa royal family. The high level of craftsmanship and detailed goldsmithing in these artifacts highlight their cultural, historical, and artistic importance.

The exhibition offers a rare opportunity for both domestic and international visitors to explore the rich history and artistry of the Champa civilization. It will run until October 2024 at the Vietnam National Museum of History, located at No. 1 Trang Tien, Hanoi.

Golden statue of the sacred bull Nandin. Nandin is considered the “god of wealth”, a loyal servant and leader of the army of God Shiva. Almost all Shiva temples have a statue of the sacred bull Nandin lying prostrate, facing the main temple.

Linga – Yoni altar made of gold and silver. Linga – Yoni is the combination of masculine and feminine energy, representing the union of the two principles of yin and yang, the foundation of life, the origin of the universe.

(1): Statue of a male god made of gold and gemstones; (2): Statue of a female god made of gold

The box decorated with God Shiva on top and goddesses on sides, made of silver and gemstones

@vtv.vn

Bitcoin Mining Profitability Is Stuck at Record Lows, JPMorgan Says

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Miners earned an average of $43,600 per exahash a second in daily block rewards last month, the lowest rate on record, the report said.

Bitcoin (BTC) mining profitability is stuck at record lows, JPMorgan (JPM) said in a research report on Tuesday.

“We estimate bitcoin miners earned an average of $43,600 per EH/s in daily block reward revenue in August, the lowest point on record,” analysts Reginald Smith and Charles Pearce wrote.

That compares with a peak value of $342,000 in November 2021, when the BTC price was $60,000 and the network hashrate was 161 EH/s.

Mining stocks declined as the average price of the world’s largest cryptocurrency fell for the third consecutive month and the network hashrate rose. Hashrate refers to the total combined computational power used to mine and process transactions on a proof-of-work blockchain.

The total market cap of the 14 U.S.-listed miners tracked by the bank shrank 15% month-on-month to $20 billion, with only three of the miners outperforming bitcoin in the period, the report said.

The network hashrate, a proxy for competition in the industry and mining difficulty, increased for the second straight month, the bank noted. “The network hashrate averaged 631 EH/s in August, up 16 EH/s from last month, and about 20 EH/s below prehalving levels,” the authors wrote.

JPMorgan noted that mining difficulty rose 9% last month, and is 4% higher than before the halving.

There was a brief spike in transaction fees in August, to as much as 120% of the block reward, which is an “incremental positive” for the miners, the report added.

The bank noted that bitcoin’s annualized volatility rose to 62% in August, from 45% in July.

TradFi Companies ‘Want to Transact in Bitcoin,’ Says Cantor Fitzgerald CEO

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Howard Lutnick was picked by Donald Trump to chair his presidential transition team last month

Cantor Fitzgerald CEO Howard Lutnick has said traditional financial (TradFi) companies “want to transact in bitcoin” as a new asset class but are being held back by the existing requirements of U.S. regulators.

Lutnick said in an X post on Tuesday that bitcoin (BTC) was an “outsider to the TradFi community [that’s] only now dipping its toe into global finance.”

“If a bank were to hold your bitcoin, they would have to set aside their own money equal to that amount, sort of ‘in jail’. That’s why they don’t hold it. But if the regulatory environment was good, you will see all the traditional financial companies go head first into bitcoin,” Lutnick said.

As well as being CEO of Cantor Fitzgerald, which unveiled its plans to open a bitcoin financing business in June, Lutnick was also picked by the pro-crypto Republican candidate Donald Trump to chair his presidential transition team.

Cantor Fitzgerald, which owns a “s***load” of bitcoin, according to Lutnick, plans to launch its bitcoin financing business with $2 billion in lending, providing leverage to BTC holders. It already handles U.S. Treasury trading with stablecoin issuer Tether.

Hanoi to Digitize 3D Models of Historic Villas

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The Hanoi People’s Committee recently announced a plan to create management records, develop a database, and implement 3D digitization for these villas. This initiative is part of Program No. 03-CTr/TU, aimed at enhancing the management, use, and preservation of state-owned villas built before 1954.

The plan will improve the capacity of state management agencies by providing comprehensive information on the status of these villas, enabling better decision-making for their conservation. It also includes the development of villa management software to help analyze data and predict future needs.

Key milestones include:

By the end of 2024, 20% of the villas (about 240) will have their management profiles and databases established.
The 3D digitization of Group 1 villas will begin in the fourth quarter of 2024.
By 2025, the city aims to have 80% of the villas (around 970) documented and digitized.
The entire project, including software development and 3D digitization, is expected to be completed by December 31, 2026.

This effort underscores Hanoi’s commitment to preserving its cultural heritage while leveraging modern technology for effective management.

Group 1 Villas are villas ranked as historical and cultural relics according to the provisions of the law on cultural heritage; villas with typical architectural value, owned by the state.

Hainan (China) and North of Vietnam Brace for Typhoon Yagi: Level 4 Emergency Response Activated

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Since last weekend, Typhoon Yagi, combined with the southwest monsoon, has already wreaked havoc in the Philippines, bringing torrential rains and severe flooding to the capital, Manila, and other areas. The devastating impact has caused landslides, submerging houses and burying entire villages, with the death toll rising to 14.

According to the Philippine Meteorological Agency, Typhoon Yagi is expected to strengthen, possibly reaching severe tropical storm status before escalating to a super typhoon by September 5.

Currently, Typhoon Yagi has entered the eastern part of the South China Sea and is steadily advancing toward Hainan Island. The storm is intensifying and is forecast to make landfall along the eastern coast of Hainan Province and the western coast of Guangdong Province on September 6.

The Hainan Provincial Meteorological Bureau has warned that the storm’s strongest winds near its center could reach levels 15-17, categorizing it as a strong storm or super typhoon. From the night of September 3 to September 8, coastal areas off Hainan will face powerful gusts, while the island itself is expected to experience heavy rain from September 5 to September 7.

Discover Vietnam: A Seasonal Guide to Unforgettable Experiences

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Not many people know about the exceptional experiences that this country offers. Vietnam is an Asian country where you get bustling, vibrant cities and breathtaking natural landscapes that will be etched in your memory forever. The heroic history of this beautiful country also makes it an exciting destination for all history buffs. It is an anticipated holiday destination among many UK citizens. If you want to explore this beautiful destination soon from the UK, you will need a seasonal guide to Vietnam.

Those who travel extensively know that the most unforgettable experience at a destination is only possible if they choose the right time to visit it. As Vietnam covers an area of more than 1600 km, you cannot expect the weather to be constant throughout the region. The climate here will fluctuate as you travel from south to north. So, make sure you know not only about the best time to visit Vietnam but also about the seasons in the area you plan to visit and the experiences you are looking forward to. A comprehensive seasonal guide like this will do the job, so keep reading.

Best Time to Visit Vietnam

As mentioned earlier, the weather in Vietnam varies from area to area. However, if you want to experience ideal weather conditions in the main tourist attractions in Vietnam, you should plan your trip in March or April. These are the spring months, with pleasant temperatures and minimal rainfall. However, you must be aware of the fluctuating weather conditions while you travel around the country.

There is also a more extended bracket between November and April that can also offer a great time to the country. The good thing about visiting during this time is that you can avoid the hot and sticky summer and the heavy tropical monsoon season when most of the country experiences heavy rainfalls and occasional flooding.

Seasonal Guide to Vietnam Region Wise

We know how confusing it can be to choose a time to visit Vietnam when the region doesn’t promise constant weather in all parts. But you don’t have to worry anymore because this region-wise seasonal guide to visiting the area will be pretty helpful for you. You can see what time will be perfect for you to visit the region of Vietnam that you want to explore.

Perfect Time to Visit Northern Vietnam

Northern Vietnam includes areas such as Halong Bay, Hanoi, and Sapa. Winters in this region are cold and dry, starting in December and ending in February. The temperature overnight here can go as low as 4 degrees Celsius. Summer in the country’s northern region is quite hot and humid, which isn’t a favorable time to explore the tourist attractions in the area.

Therefore, you must avoid the summer months from May to August. In this part of the country, spring and autumn offer good warm and sunny days. Spring is in March and April, while Autumn is in September and November.

Perfect Time to Visit Central Vietnam

Hue and Hoi An are located in the central Vietnam region. The coastal areas of this region are at high risk of extreme wet weather and usually have flooding and typhoon warnings during the wet season. You can expect typhoon-like winds from August to November in coastal areas like Hoi An.

In February, the rains start to subside, giving way to the sun. This results in more sunny and pleasant days. So, if you plan to visit the central Vietnam region, the best time to see this region will be between February and August. You will usually find hot and dry days during this time, with temperatures ranging between 21 and 35 degrees Celsius.

Perfect Time to Visit Southern Vietnam

This part of the country includes areas like the Mekong Delta and Ho Chi Minh City. It is the best one if you don’t want to feel too restricted by the varying weather conditions. It is perfect for people who wish to plan a holiday in a year-round destination. The region’s dry season is from December to May, and the wet season is from June to November.

However, the wet season in southern Vietnam is not as severe. The rainfall here is short and doesn’t impact everyday life and tourism. Photographers love to travel to this part of the country during its monsoon season because of the dramatic view of the Mekong Delta, where thunderheads float, and the lush green rice fields.

Summing Up

Vietnam is a glorious destination with countless unforgettable experiences for its tourists. The region is known for its breathtaking natural beauty worldwide and offers the chance to explore beautiful islands, lush green rainforests, and magnificent mountains. You will also get an opportunity to explore Vietnamese culture and cuisine. There are a lot of vibrant towns here that will give you the most unforgettable holiday experience. You just need a seasonal guide to Vietnam to ensure you have the most unforgettable experience. Book your flight and embark on a journey filled with unforgettable memories, from vibrant towns to breathtaking natural wonders, all at an incredible value. It is also a great destination option for UK citizens looking for a holiday under £400 as it is among the cheapest countries to travel to but offers many experiences that stun everyone.

Elon Musk, Tesla Win Dismissal of Lawsuit Alleging Dogecoin Market Manipulation

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A group of investors in 2022 alleged that Elon Musk and his company had manipulated the price of dogecoin using their X (then Twitter) accounts.

A Manhattan judge permanently dismissed a lawsuit alleging Elon Musk and his electric-car company, Tesla, manipulated the price of dog-themed token dogecoin (DOGE) using postings on X (then Twitter) and in public appearances.

U.S. District Judge Alvin Hellerstein issued the decision on Thursday night. In 2022, investors accused Musk of using his Twitter following and a 2021 appearance on NBC’s “Saturday Night Live,” among other instances, to influence the memecoin’s price and allegedly take profits on his suspected DOGE holdings at their expense.

Some of Musk’s statements in that lawsuit included his claims to “become Dogecoin’s CEO,” put a “literal Dogecoin in SpaceX and fly it to the moon,” and that “Dogecoin might become the standard for the global financial system.”

Hellerstein said the statements were “aspirational and puffery, not factual and susceptible to being falsified,” adding that “no reasonable investor could rely upon them.”

“Defendants’ motion to dismiss the Fourth Amended Complaint is granted with prejudice,” Hellerstein wrote in the judgment. “The Clerk shall enter judgment in Defendants’ favor and tax costs, dismiss the Fourth Amended Complaint with prejudice, terminate all open motions, and mark the case closed.”

Bitcoin Drops Under $59K as BTC Demand Wanes, BlackRock’s IBIT Logs Outflows for the Second Time

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U.S.-listed BTC ETFs recorded $71 million in net outflows on Thursday for the third consecutive day, SoSoValue data shows, in a sign of professional funds leaving the market.

Continual profit-taking after last week’s rally saw bitcoin (BTC) continue a week-long slide to under $59,000 early Friday, with major exchange-traded funds (ETFs) recording net outflows amid signs of waning demand.

BTC lost just over 1% in the past 24 hours, CoinGecko data shows, bringing weekly losses to over 3.5% and on track to end August at an 8% haircut (with one day to go). Overall bitcoin demand growth remains low and has even turned negative in the last few weeks, as previously reported.

U.S.-listed BTC ETFs recorded $71 million in net outflows on Thursday for the third consecutive day, SoSoValue data shows, in a sign of professional funds leaving the market.

The biggest losers on Thursday were Fidelity’s FBTC at $31 million and Grayscale’s GBTC at $22 million. However, a shock move for traders came as BlackRock’s IBIT – the world’s largest bitcoin fund by assets under management – recorded outflows of $13 million for the second time ever.

As such, exchange data shows a bump in demand from U.S. retail investors as the bitcoin price premium on the Coinbase exchange has increased to its highest level since July, on-chain analytics firm CryptoQuant shared in a Thursday report.

Additionally, bitcoin is flowing again from exchanges outside the U.S. to Coinbase, a signal of higher demand from US investors and a condition historically correlated with higher prices.

Meanwhile, traders expect market volatility to pick up in the coming weeks. BTC has largely traded sideways in the past week despite favorable rate cut signals and endorsements from Republican candidate Donald Trump – which has impacted sentiment for the broader crypto market.

“Crypto had an uneventful week as BTC and ETH hovered around +/- 1.5% compared to last week’s levels. ETF inflows remain subdued,” Augustine Fan, head of insights at SOFA, said in a weekly note to clients.

“We expect market action to pick up after US Labour Day and into next week’s NFP to kickstart a busy Fall season, and political headlines to start gaining importance, particularly with the latest Harris/Walz announced plans to raise taxes aggressively.”

It’s a view shared by traders at Singapore-based QCP Capital, who said in a Telegram broadcast that they expect price action to remain choppy even as market volatility may continue.

“Risk reversals until Oct are still skewed towards puts in both BTC and ETH, indicating that the market remains cautious about the downside,” QCP said. “In the lead-up to next week’s non-farm payroll report, we expect market volatility to continue its downtrend as the market positions itself for potential rate cuts by the Fed.”

Federal Reserve chair Jerome Powell has confirmed a pivot to lower borrowing costs next month, as previously reported. Such steps have historically buoyed bullish sentiment among traders as cheap access to money spurts growth in riskier sectors.

“With the absence of any catalysts in the near term, we anticipate prices to continue chopping within the range as we move into September,” QCP added.

How To Choose The Best Grout Cleaning Machine

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Step-by-Step Guide: How To Choose The Best Grout Cleaning Machine

After reinforcing tiles, you must remove the excess grout to keep the floor attractive and sparkling clean. While installed tiles might resist stains and dirt, grout is porous and thus can easily absorb grease, spills, and grim. Handling such uncertainties requires effective grout-cleaning equipment.

If you’re looking for a reliable grout-cleaning machine that cleans without damaging tiles, this guide is for you. There are four main types of grout (cementitious, epoxy, urethane, and furan grout ); no matter your choice, these steps will help you buy the best cleaning machine that serves you well.

Step #1: Assess Your Grout Cleaning Cleaning Needs

Before buying a grout cleaning machine, know that they are typically developed to suit cleaning a certain type of tiles. As such, think about the type of tile you need to clean. The most common types are porcelain and ceramic tiles. But there are also tiles made from stone, such as limestone and marble, so you must choose the cleaning machine carefully.

A commercial grout cleaning machine with high power and durable brushes is abrasive, making it ideal for removing tough grout on surfaces. On the other hand, a lighter, more compact model might be better suited for removing grout gently on fragile surfaces and for regular maintenance.

Ideally, in addition to buying a grout cleaning machine that matches the nature of your cleaning surface, you must consider the size of the area since larger areas would require a bigger cleaning head and a more powerful motor.

The grout condition also matters. The rule is that highly stained or dirty grout needs a stronger grout machine or brush set. Conversely, moderately dirty grout that is easy to remove requires less power.

Step #2: Keep An Eye on The Key Features

Another essential factor before buying a grout cleaning machine is the specifications. You should check the power capacity, which influences its performance. A machine with a capable motor and a rotational speed of 1600 RPM or more can effectively scrub off grout.

Also, check the brush’s design. But don’t be misled into thinking that soft materials like nylon brushes won’t get the job done; they still have a strong cleaning force that removes the stains. Some other grout-cleaning machines have detachable brushes to clean different parts, which makes them a perfect choice if you want convenience and flexibility.

You should also note that lightweight grout cleaning machines have comfortable handles and are easier to use, especially in enclosed areas. A telescopic handle, for instance, minimizes strain as you do the cleaning.

Versatility again matters because you need a single machine that can clean all sections of your house. In this case, the grout cleaning machines with many accessories or variable parameters offer top-notch versatility.

Step #3: Read Reviews About the Grout Cleaning Machine

The quickest way to find the best grout machine is to ask friends, relatives, or anyone you know with expertise in cleaning grout. Once you get a suggestion, it’s time to do your homework and find out what users say about the machine or maker.

The best grout cleaning machines should have the highest ratings and positive reviews from users; they show high satisfaction. So, reading through reviews is a must and can be a reliable way to gauge the machine’s performance. However, you must ensure you check them on reputable review sites or social media pages to avoid fake manufacturer-sponsored reviews.

Be wary of generally positive testimonies without the specific aspects they love about the product. Check what other users say about the machine regarding performance, sturdiness, and functionality.

You must familiarize yourself with the different grout cleaning machines on the market. The common varieties are steam cleaners, scrubbing machines, and multipurpose cleaners. This knowledge will allow you to choose the right machine for your needs.

Step #4: Consider Durability

When choosing a grout cleaning machine, it should be sturdy and long-lasting, with little or no frequent maintenance needed. Spend your time getting it right when it comes to the brushes. A good brush for the grout cleaning machine can be used for tiling at least 500 sq. ft.

For extra safety, look at the manufacturer’s warranty and support. The warranty, of course, is one year. Still, some machines can have an extended guarantee or other quality control.

Step # 5: Make Informed Decision

Finally, make your decision after considering all the factors that matter to you.

Select a machine that is most suitable for your operations. Make sure it has the features you need and is affordable. Whether you prefer a highly effective commercial machine or a small portable machine, ensure it meets your needs for guaranteed satisfaction.

Conclusion

Selecting the most appropriate grout-cleaning machine is crucial in ensuring your tiles are clean and attractive.

Therefore, consider your cleaning requirements first to get the most suitable machine. That means focusing on the features you need and looking for reviews to see how these features hold up. As an investment, you must consider durability to get a good return on your money.

So, whether buying a powerful commercial machine or a small portable model for home use, always choose a great product from a reliable seller for a good experience.

Money Laundering and Gambling: Inspect their Roles in Financial Outrages

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Money laundering and gambling are linked in the context of financial misconduct, which often amplifies the severity of financial outrages. Gambling, particularly when it becomes an addiction, is frequently associated with various forms of economic crime. The largest share of individuals affected by gambling-related issues report thefts committed by addicts seeking funds to support their addiction, with money laundering emerging as a close secondary concern. This connection stresses the dual threat posed by gambling, where the pursuit of illicit financial gain can increase both personal and systemic financial harm.

What is Money Laundering and Gambling?

Money laundering and gambling are somehow related to each other due to their direct dealing with monetary scams. Imposters utilize their sophisticated tactics to make money legal without getting caught by authorized departments.

Money laundering is the advanced protocol employed by fraudsters to make illegal money, a legitimate one, through the concealing of their original source from where it is gained, such as drug trafficking, corruption, bribery, etc. On the other hand, gambling is a term defined as risking money or something substantial in an uncertain event by hoping to prevail in added funds or commodities. Gambling activities include online betting platforms, lotteries, casinos and other games of chance.

Red Flags in Online Gambling – Combat Potential Risks of Money Laundering

Online gambling presents unique challenges for AML compliance due to the anonymity, flexibility, and global reach it offers. Acknowledging and confronting these risks is central for financial institutions to mitigate the potential for money laundering. Some of the potential money laundering risks available in online gambling are given below:

Anonymity: The anonymity afforded by online gambling platforms allows criminals to use stolen identities, fake documents, or cryptocurrencies to conceal their illicit activities.
Multiple accounts and cross-border transactions: The ability to create multiple accounts and engage in cross-border transactions makes it hard to monitor the financial flows and detect illegality.
Free flow of funds: The large volumes of money that flow through online gambling platforms can facilitate the integration of illicit funds into the legitimate financial system.
Regulatory challenges: The varying regulatory frameworks across jurisdictions create inconsistencies that money launderers can exploit.

Identifying Money Laundering Operations in Gambling Platforms

Imposters can exploit online gambling platforms at each stage of the money laundering process, which are given below in tabular form for better understanding:

Types	Description
Placement	Illicit funds are introduced into financial management by lodging money into gambling accounts in different ways. These diverse methods include credit/debit cards, cryptocurrencies, prepaid cards, or checks.
Layering	The source of funds (SoF) is concealed through complex transactions, which include multiple bets and withdrawals within the gambling platform. This layering process makes it difficult to trace the origin of funds.
Integration	The laundered funds are withdrawn or employed for legitimate transactions, such as acquiring properties or conveying money to other accounts. This stage involves blending the illicit funds with legitimate funds to make them appear legitimate.

Defined Gambling AML Regulations in the Digital Platforms

Gambling AML compliance refers to the regulatory bodies which are defined by the government organizations in order to combat the potential risks related to money laundering, terror funding, corruption and bribery. Some of the defined rules given by authorized departments in prominent territories are given below:

Countries	Compliance Requirements
United States	FinCEN regulations: The Financial Crimes Enforcement Network (FinCEN) requires online casinos to execute the Bank Secrecy Act (BSA) and anti-money laundering (AML) programs, which are similar to traditional casinos. Government-wide priorities: In 2021, FinCEN issued eight national priorities for AML and counter-terrorism financing (CFT) policy, which online gambling establishments must incorporate into their programs. These priorities include corruption, cybercrime, terrorist financing, transnational criminal activity, drug trafficking, human trafficking, and proliferation financing.
European Union	Lack of unified legislation: The EU lacks a single set of gambling regulations, with member states having their own laws and regulations.
United Kingdom	Compliance requirements: Operators must comply with the Proceeds of Crime Act 2002, the Terrorism Act 2000, and the Gambling Act 2005.

Final Interpretation – Anti-Money Laundering for Gambling

Money laundering and gambling are the most hot topics in this advanced world with high monetary scams. As digital facilities are increasing, the hunger for getting more money is the ultimate goal for most of the fraudsters through illegalities such as terror funding, corruption, drug trafficking and corruption. There are defined gambling AML checks for every state and country, which should be regulated in financial and related institutions to combat these scams.

Ha Long City to Host Inaugural Hot Air Balloon Festival on September 2nd

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Ha Long City is set to host its first-ever Hot Air Balloon Festival, themed “Heritage City – Colors of Ha Long,” on September 1 and 2 at 30/10 Square and Ocean Park Beach. This festival, part of the celebrations for the 30th anniversary of Ha Long Bay’s World Heritage designation, promises unique experiences, offering breathtaking views of the city from above. The event will feature hot air balloon flights, a lantern night, and decorative displays.

The 2024 Ha Long Wave Crossing Festival just took place in Ha Long City, attracting many locals and tourists (Photo: Tien Dung)

According to Mr. Nguyen Ngoc Son, Vice Chairman of Ha Long City People’s Committee, this festival is part of the city’s vision of becoming a “Festival City,” aiming to welcome around 10 million visitors this year. Alongside the Hot Air Balloon Festival, Ha Long City has also hosted other events, including Sailing, Parachute, and Jet Ski Festivals, all of which have left lasting impressions on both locals and tourists.