“Should Have Bought” is a news podcast by the ForkLog editorial team covering the week’s major industry events and the hottest tokens.
Topics include strict cryptocurrency regulation in Belarus, the long-awaited rate cut by the Fed and market revival, the BingX hack, and the mass closure of exchanges in Germany.
Special guest: Maxim Shabanov, director of the Belarusian crypto platform WhiteBird, a resident of the High-Tech Park.
Participants: ForkLog authors Lena Jess and Alex K.
Belarus Restricts Cryptocurrency Transactions
On September 17, Belarusian President Alexander Lukashenko signed a decree prohibiting individuals and sole proprietors who are residents of the High-Tech Park (HTP) from buying and selling cryptocurrencies outside Belarusian exchanges and exchangers.
Similar restrictions for legal entities have been in place since 2017.
The authorities justified the decision as necessary to protect citizens from fraud and illegal operations with digital assets. Penalties for rule violations have yet to be determined; the Council of Ministers will propose measures of responsibility by June 2025.
Currently, eight bitcoin exchanges and two exchangers are registered in the HTP.
Lower Rates, Higher Bitcoin
On September 18, the Fed lowered the key rate to 4.75-5% per annum for the first time since March 2020, aligning with market expectations.
Following the decision, the price of bitcoin broke the $60,000 level, reaching $61,000 at one point. In the subsequent days, digital gold and other crypto assets continued to rise.
Analyst and MN Trading founder Michaël van de Poppe expects further easing of monetary policy by the US regulator “to keep the economy moving forward.”
A Lack of Dopamine
CryptoQuant CEO Ki Young Ju concluded that the crypto industry is in crisis, as it fails to “provide dopamine” to developers and traders.
In his view, the industry previously resembled a game where participants gained emotional satisfaction through achievements, victories, and community interaction. Earnings from volatile markets and the creation of innovative technologies served as catalysts for these emotions.
But now traders have become more cautious, and developers are coming from related fields such as finance and gaming. New projects no longer bring the same level of enjoyment as before. Instead, the market is filled with gambling products like meme tokens or complex instruments typical of traditional finance.
According to Ki Young Ju, without incentives that can again trigger a “dopamine rush,” the industry will continue to decline.
Key to Mass Adoption
The largest crypto exchange Binance has released its own mini-game on the Telegram messenger platform called Moonbix.
The gameplay resembles popular claw machines. The player must press a button at the right moment to catch yellow balls and avoid meteors. Each attempt lasts 45 seconds.
Although the “Terms and Conditions” page does not mention an airdrop or listing of a new token, it does refer to certain rewards.
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