Hello dear hustlers,
Are you ready to invest in your friends?
That's right, there's a new social media app that lets you do just that.
In this newsletter, we'll take a closer look at Friend.Tech and discuss the pros and cons of investing in your friends.
We'll also discuss the recent decline in the price of BNB, the native cryptocurrency of the Binance exchange.
Let's get started!
The New Social Media App That Lets You Invest in Your Friends
Friend.Tech is a new social media app that lets you invest in your friends. That's right, you can now buy and sell shares of your friends' social media influence.
How does it work?
When you sign up for Friend.Tech, you're given a set of "keys." These keys represent your shares in other users. The more keys you own, the more influence you have over that user's account.
For example, if you own 100 keys for a user, you can vote on which posts they make public, and you can even kick them out of their own chat room.
The price of keys is determined by supply and demand. If a user is popular, their keys will be more expensive. And if a user is inactive, their keys will be cheaper.
So, why would you want to invest in your friends?
There are a few reasons. First, if your friends become more popular, the value of your keys will go up. Second, you can use your keys to get exclusive access to content and features. And third, you can use your keys to influence your friends' behavior.
Of course, there are also some risks involved in investing in your friends. For example, if your friends get into trouble, their keys could lose value. And if your friends stop using Friend.Tech, their keys will become worthless.
Here are some of the things that make Friend.Tech unique:
It's a decentralized social media app, which means that it's not controlled by any one company.
It uses blockchain technology to track ownership of keys.
It allows users to vote on which posts are made public.
It gives users the ability to kick other users out of their chat rooms.
Overall, Friend.Tech is a new and innovative social media app that has the potential to change the way we interact with each other online. Whether it's a success or not remains to be seen, but it's definitely worth keeping an eye on.
Here are some of the red flags of Friend.Tech:
The app is still in development, so there are some bugs and features that are missing.
It's a bit complicated to use, especially for beginners.
There are some concerns about privacy and security.
The people behind the app are anonymous.
Syncing your Twitter account with Friend.Tech grants it certain permissions.
The app has bypassed the standard safety checks in app stores.
Here are some things to keep in mind if you're thinking about using Friend.Tech:
Only invest what you can afford to lose.
Do your research on the people behind the project.
Be aware of the risks involved in trading cryptocurrencies.
If you're looking for a new way to connect with friends and creators, Friend.Tech is worth checking out. But just remember to be cautious and do your research before you invest any money.
The bottom line:
Friend.Tech is a new and exciting social media app that has the potential to change the way we interact with each other online. However, it's important to be aware of the risks involved before you decide to invest in it.
BNB Token Stumbles to 1-Year Low Amid Mounting Scrutiny Over Binance
The BNB token, the native cryptocurrency of the Binance exchange, has fallen to a one-year low amid mounting scrutiny over the exchange.
The token fell below $200 on August 22, 2023, for the first time since August 2022. This comes as Binance is facing regulatory scrutiny in several countries, including the United States, the United Kingdom, and Japan.
The SEC is reportedly investigating Binance for possible violations of securities laws. The CFTC is also investigating Binance for possible market manipulation.
It is unclear how long the scrutiny over Binance will last. However, it is likely to continue to weigh on the price of BNB in the near term.
That's all for this newsletter.
I hope you found it informative and interesting. If you have any questions or comments, please feel free to leave them below.
This is Zain from Team Inspired analyst signing off.
Disclaimer: This is not financial advice or recommendation for any investment. The content is for informational purposes only, you should not construe any such information or other material as legal, tax, investment, financial, or other advice.