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Novak Djokovic pays emotional tribute to his wife Jelena

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Amazing tribute by Novak Djokovic to his wife Jelena on her birthday on Sunday. The Serbian player, who is competing at the Queen’s Club this week while his family is in Monte Carlo, wrote a long post on Instagram sharing a photo where they kiss each other.

‘Sometimes it’s strange to wish a happy birthday to your life partner on social media’, Djokovic wrote. ‘At least to me, not sure about you guys. But, as I am not with my family today on this important day, and I am calling them and sharing moments with them THANKS to technology – I feel enormous gratitude for it and so I have to send my love to the love of my life this way too.

This is a special tribute to you amore, I am celebrating your birth and all the achievements you made since then and for many more to come. For being an amazing friend, wife, mother, teacher, leader, entrepreneur, philanthropist…

for inspiring so many people around the world and being such a powerful voice for education. I am proud to watch you grow into the most amazing human being… and I am so lucky that you help me grow too, and for being next to me.

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BREAKING: Gensler – A Ban on Crypto Is ‘Congress’ Decision – DETAILS

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In a Tuesday hearing, Gensler told the House Committee on Financial Services that the SEC has no plans to ban crypto.

U.S. Securities and Exchange Commission (SEC) Chair Gary Gensler told Congress on Tuesday that the SEC has no plans to ban crypto.

When asked by Rep. Ted Budd (R-N.C.), a longtime crypto supporter and member of the Congressional Blockchain Caucus, if the SEC had any plans to follow China’s lead in banning cryptocurrency in favor of a prospective central bank digital currency (CBDC), Gensler said, “No, that would be up to Congress.”

Gensler’s assertion that the SEC does not plan to ban crypto mirrors similar remarks made by Federal Reserve Chair Jerome Powell last week, when the central bank head told the House Financial Services Committee that the Fed had “no plans to ban” the $2.2 trillion asset class.

Gensler mostly reiterated his previous thoughts on crypto regulation including the need for exchanges to “come in and register” with the SEC, the potential systemic risk posed by stablecoins and the need for them to be subject to increased regulation, and that “most” cryptocurrencies fall under the definition of a security.

However, Gensler also expanded on his understanding of the SEC’s authority to regulate the crypto industry.

When asked by Rep. Jim Himes (D-Conn.) to provide “guidance” on the topic of crypto regulation, Gensler reiterated his previous position that crypto exchanges need to register with the SEC but added that decentralized exchanges (DEXs) would also be subject to regulations.

“Even in decentralized platforms – so-called DeFi platforms – there is a centralized protocol. And though they don’t take custody in the same way [as centralized exchanges], I think those are the places that we can get the maximum amount of public policy.”

Gensler also expanded on his stance on stablecoins, which he has previously called the “poker chips” at the crypto “casino.” Gensler doubled down on his poker chip analogy during his response to several questions, adding that he viewed stablecoins as a systemic risk to the economy.

“The $125 billion of stablecoins we have right now are like poker chips at a casino,” Genser said. “I do think that if this continues to grow – and it’s grown about tenfold in the last year – it can present those systemic wide risks.”

The statement comes a day after we first reported that USDC stablecoin issuer Circle was served with an “investigative subpoena” from the SEC’s Enforcement Division in July.

The price of bitcoin, already up on the day, appeared to jump further on Gensler’s comments, rising to as high as $51,678.20. In recent trading, the price of the leading cryptocurrency was at $51,329.82, up 4.59% in the last 24 hours.

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WHAT IS DEFi?

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Defi is a short form of  “decentralized finance,” a term that carries  Ethereum and blockchain applications g pivoted toward disrupting financial intermediaries.

DeFi is short for “decentralized finance,” an umbrella term for a variety of financial applications in cryptocurrency or blockchain geared toward disrupting financial intermediaries.

DeFi draws inspiration from blockchain, the technology behind the digital currency bitcoin, which allows several entities to hold a copy of a history of transactions, meaning it isn’t controlled by a single, central source. That’s important because centralized systems and human gatekeepers can limit the speed and sophistication of transactions while offering users less direct control over their money. DeFi is distinct because it expands the use of blockchain from simple value transfer to more complex financial use cases.

Bitcoin and many other digital-native assets stand out from legacy digital payment methods, such as those run by Visa and PayPal, in that they remove all middlemen from transactions. When you pay with a credit card for coffee at a cafe, a financial institution sits between you and the business, with control over the transaction, retaining the authority to stop or pause it and record it in its private ledger. With bitcoin, those institutions are cut out of the picture.

Direct purchases aren’t the only type of transaction or contract overseen by big companies; financial applications such as loans, insurance, crowdfunding, derivatives, betting, and more are also in their control. Cutting out middlemen from all kinds of transactions is one of the primary advantages of DeFi.

Before it was commonly known as decentralized finance, the idea of DeFi was often called “open finance.”

Ethereum applications

Most applications that call themselves “DeFi” are built on top of Ethereum, the world’s second-largest cryptocurrency platform, which sets itself apart from the Bitcoin platform in that it’s easier to use to build other types of decentralized applications beyond simple transactions. These more complex financial use cases were even highlighted by Ethereum creator Vitalik Buterin back in 2013 in the original Ethereum white paper.

That’s because Ethereum’s platform for smart contracts – which automatically execute transactions if certain conditions are met – offers much more flexibility. Ethereum programming languages, such as Solidity, are specifically designed for creating and deploying such smart contracts.

For example, say a user wants his or her money to be sent to a friend next Tuesday, but only if the temperature climbs above 90 degrees Fahrenheit according to weather.com. Such rules can be written in a smart contract.

With smart contracts at the core, dozens of DeFi applications are operating on Ethereum, some of which are explored below. Ethereum 2.0, a coming upgrade to Ethereum’s underlying network, could give these apps a boost by chipping away at Ethereum’s scalability issues.

The most popular types of DeFi applications include:

  • Decentralized exchanges (DEXs): Online exchanges help users exchange currencies for other currencies, whether U.S. dollars for bitcoin or ether for DAI. DEXs are a hot type of exchange, which connects users directly so they can trade cryptocurrencies with one another without trusting an intermediary with their money.
  • Stable coins: A cryptocurrency that’s tied to an asset outside cryptocurrency (the dollar or euro, for example) to stabilize the price.
  • Lending platforms: These platforms use smart contracts to replace intermediaries such as banks that manage lending in the middle.
  • “Wrapped” bitcoins (WBTC): A way of sending bitcoin to the Ethereum network so the bitcoin can be used directly in Ethereum’s DeFi system. WBTCs allow users to earn interest on the bitcoin they lend out via the decentralized lending platforms described above.
  • Prediction markets: Markets for betting on the outcome of future events, such as elections. The goal of DeFi versions of prediction markets is to offer the same functionality but without intermediaries.

In addition to these apps, new DeFi concepts have sprung up around them:

  • Yield farming: For knowledgeable traders who are willing to take on risks, there’s yield farming, where users scan through various DeFi tokens in search of opportunities for larger returns.
  • Liquidity mining: When DeFi applications entice users to their platform by giving them free tokens. This has been the buzziest form of yield farming yet.
  • Composability: DeFi apps are open source, meaning the code behind them is public for anyone to view. As such, these apps can be used to “compose” new apps with the code as building blocks.
  • Money legos: Putting the concept “composability” another way, DeFi apps are like Legos, the toy blocks children click together to construct buildings, vehicles, and so on. DeFi apps can be similarly snapped together like “money legos” to build new financial products.

    Lending platforms

    Lending markets are one popular form of DeFi, which connects borrowers to lenders of cryptocurrencies. One popular platform, Compound, allows users to borrow cryptocurrencies or offer their own loans. Users can make money off of interest for lending out their money. Compound sets the interest rates algorithmically, so if there’s a higher demand to borrow a cryptocurrency, the interest rates will be pushed higher.

    DeFi lending is collateral-based, meaning in order to take out a loan, a user needs to put up collateral – often ether, the token that powers Ethereum. That means users don’t give out their identity or associated credit score to take out a loan, which is how normal, non-DeFi loans operate.

    Stablecoins

    Another form of DeFi is a stable coin. Cryptocurrencies often experience sharper price fluctuations than fiat, which isn’t a good quality for people who want to know how much their money will be worth a week from now. Stablecoins peg cryptocurrencies to non-crypto currencies, such as the U.S. dollar, in order to keep the price under control. As the name implies, stablecoins aim to bring price “stability.”

    Prediction markets

    One of the oldest DeFi applications living on Ethereum is a so-called “prediction market,” where users bet on the outcome of some event, such as “Will Donald Trump win the 2020 presidential election?”

    The goal of the participants is, obviously, to make money, though prediction markets can sometimes better predict outcomes than conventional methods, like polling. Centralized prediction markets with good track records in this regard include Intrade and Predict It. DeFi has the potential to boost interest in prediction markets since they are traditionally frowned upon by governments and often shut down when run in a centralized manner.

    DeFi FAQ (Frequently Asked Questions)

    How do I make money with DeFi?

    The value locked up in Ethereum DeFi projects has been exploding, with many users reportedly making a lot of money.

    Using Ethereum-based lending apps, as mentioned above, users can generate “passive income” by loaning out their money and generating interest from the loans. Yield farming, described above, has the potential for even larger returns, but with larger risks. It allows for users to leverage the lending aspect of DeFi to put their crypto assets to work generating the best possible returns. However, these systems tend to be complex and often lack transparency.

    Is investing in DeFi safe?

    No, it’s risky. Many believe DeFi is the future of finance and that investing in the disruptive technology early could lead to massive gains.

    But it’s difficult for newcomers to separate the good projects from the bad. And, there have been plenty of bad.

    As DeFi has increased inactivity and popularity through 2020, many DeFi applications, such as meme coin YAM, have crashed and burned, sending the market capitalization from $60 million to $0 in 35 minutes. Other DeFi projects, including Hotdog and Pizza, faced the same fate, and many investors lost a lot of money.

    In addition, DeFi bugs are unfortunately still very common. Smart contracts are powerful, but they can’t be changed once the rules are baked into the protocol, which often makes bugs permanent and thus increasing risk.

    When will DeFi go mainstream?

    While more and more people are being drawn to these DeFi applications, it’s hard to say where they’ll go. Much of that depends on who finds them useful and why. Many believe various DeFi projects have the potential to become the next Robinhood, drawing in hordes of new users by making financial applications more inclusive and open to those who don’t traditionally have access to such platforms.

    This financial technology is new, experimental and isn’t without problems, especially with regard to security or scalability.

    Developers hope to eventually rectify these problems. Ethereum 2.0 could tackle scalability concerns through a concept known as sharding, a way of splitting the underlying database into smaller pieces that are more manageable for individual users to run.

    How will Ethereum 2.0 impact DeFi?

    Ethereum 2.0 isn’t a panacea for all of DeFi’s issues, but it’s a start. Other protocols such as Raiden and TrueBit are also in the works to further tackle Ethereum’s scalability issues.

    If and when these solutions fall into place, Ethereum’s DeFi experiments will have an even better chance of becoming real products, potentially even going mainstream.

    Bitcoin as DeFi

    While Ethereum is the top dog in the DeFi world, many proponents of Bitcoin share the goal of cutting the middleman out of more complex financial transactions, and they’ve developed ways to do so using the Bitcoin protocol.

    Companies such as DG Labs and Suredbits, for instance, are working on a Bitcoin DeFi technology called discreet log contracts (DLC). DLC offers a way to execute more complex financial contracts, such as derivatives, with the help of Bitcoin. One use case of DLC is to pay out bitcoin to someone only if certain future conditions are met, say if the Chicago White Sox team wins its next baseball game, the money will be dispensed to the winner.

    Disclaimer

    This content is for informational purposes only and should not be considered as investment advice. 

     

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Cristiano Ronaldo Return – – Team mate to Benefit and Losers

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After 12 years away from the club, it is almost unbelievable that Cristiano Ronaldo could be back to Old Trafford.

He was not a priority signing, but when the opportunity to bring back their famous No 7 came up it was one too good to turn down.

Across the world, it was a statement signing, even with Ronaldo aged 36, and the Portuguese’s arrival will shake up United’s starting XI.

For some, they will benefit hugely from having Ronaldo back at United, with players like Paul Pogba likely to thrive alongside someone as talented as Ronaldo.

But there are others already on the periphery that could see his arrival extinguish their faint hopes of regular match minutes.

With that in mind, Sportsmail looks at the winners and losers inside the Manchester United dressing room from the 36-year-old’s return.

LOSERS

JESSE LINGARD: The first thing to note is that the England midfield is clearly incredibly excited by Ronaldo’s arrival.

Ronaldo’s fever is so strong that Lingard adapted the Portuguese’s iconic celebration when he netted against Andorra on Sunday night.

But while the 28-year-old may hold the same exciting emotions surrounding Ronaldo being back at Manchester United, it hardly bears good news for his playing chances.

Lingard thrived on loan at West Ham last season scoring nine goals and providing four assists in 16 appearances having arrived in January.

Gary Neville is among those who believe Lingard, now back at Old Trafford, will play a bit-part role.

‘To go back to being a squad player again I think, for me, is disappointing,’ Neville said.

‘I think you sometimes have to sort of fly the nest and go. I thought he’d already done that with what he did last year.’

Solskjaer has been more diplomatic and while Lingard has bags of talent, there are very few openings in the team that present him with the chance to play.

‘Of course, I have to leave players out, never mind from the starting XI but from the squad,’ Solskjaer said last month. ‘But they all have to remember and know they’re going to have to play a part if we’re going to be successful.

‘Jesse is back to his fitness, he played really well in the behind-closed-doors game on Tuesday, and he’s come back bubbly and in good shape. He’s got a big part to play.’

United battling in four competitions should get him minutes, but a rotational role beckons with the likes of Bruno Fernandes, Paul Pogba, Marcus Rashford, and Jadon Sancho all ahead of him.

ANTHONY MARTIAL: Linked with a move away in the summer with Ronaldo’s arrival set to further squeeze his starts in the attacking front three, it is a defining period for Martial and his Manchester United career.

Just seven goals last season was a real disappointment, and now he could find himself limited to cameo roles off the bench.

Back in 2019, Solskjaer explained his belief that Martial could go on to be as good as Ronaldo.

‘He [Martial] does have similarities, of course,’ the Norwegian said.

‘If he wants to be at Cristiano’s level, Anthony knows what he has to do. It’s up to him. He has the talent.’

Edinson Cavani edged out Martial by the end of last season as the No 1 centre forward option and with Ronaldo set to command a starting role each week, such is his impeccable conditioning, chances may well be at a premium for the Frenchman.

DONNY VAN DE BEEK: Well, his agent isn’t too optimistic that life at Old Trafford is going to improve for the former Ajax midfielder.

The midfielder is yet to feature for Solskjaer’s side this season having started just four Premier League matches in 2020-21.

And now the arrival of Portuguese superstar Ronaldo for a second spell at Old Trafford looks likely to bump him even further down the pecking order.

Speaking to Ziggo Sport in Holland, Van de Beek’s agent Guido Albers said: ‘Cristiano arrived on Friday which we knew was bad news for us.
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‘[Paul] Pogba plays on the left, and with Cristiano’s arrival, it means another extra player in midfield with Pogba moving away from the left.

‘We had conversations with Solskjaer and the board. We took the initiative to find a club and our search ended up at Everton. We opened talks with Marcel Brands and Farhad Moshiri.

‘On Monday night [prior to deadline day] we received a call from Solskjaer and the club told us that a transfer was out of the question and that he had to report himself to training the next morning.’

Van de Beek is viewed in a different category to a Fred or a Nemanja Matic, both of which operate as holding midfielders, but given the system in which Solskjaer plays, Van de Beek is in competition with Pogba and Fernandes for places in the starting XI.

If things don’t improve with Ronaldo around then keen an eye on Albers come January.

EDINSON CAVANI: He’s given up the No 7 shirt and also likely sacrificed a starting spot for the returning Ronaldo.

‘I wasn’t sure if it would be possible to have the number seven shirt again,’ Ronaldo said. ‘So I would like to say a huge thank you to Edi [Cavani] for this incredible gesture.’

The fact United has bolstered their attack with an older player may bother the 34-year-old, given only two players netted more than him last season for United.

Cavani scored 17 goals and added six assists in 40 games, a figure only beaten by Marcus Rashford and Bruno Fernandes in the Premier League last season.

The Uruguayan was said to not feel ‘comfortable’ last season and the expectation was he would return to South America with Boca Juniors interested.

But having penned fresh terms for 2021-22 Cavani will expect gametime and he could find himself as next man up for when Ronaldo is rested or rotated.

The Portuguese’s arrival only ramps up the pressure on Cavani to produce every time he gets an opportunity.

BRUNO FERNANDES: OK, hear me out on this one. Naturally he is ecstatic and excited to see his Portuguese compatriot return home.

‘Agent Fernandes’, as he called himself on Twitter, had been in dialogue with Ronaldo prior to the deal being done.

But… Fernandes’ monopoly over free-kicks and penalties will now likely be brought into question.

Both were on the pitch together in recent days when Ronaldo’s penalty was saved by Republic of Ireland goalkeeper Gavin Bazunu. It’s conjecture to say Fernandes would have scored it but there’s a real argument about sticking with the midfielder.

United won 11 penalties last season, scoring 10, and so they will go a big way towards a player’s final 2021-22 goal total, something both Fernandes and Ronaldo will be judged on.

Fernandes’ record from penalties in particularly is superior since 2017 – Ronaldo missing five in that time – but whenever they appear on the pitch together for Portugal there is no doubt who is stepping up.

On free-kicks, data would suggest Fernandes should remain as the primary taker but as Juventus fans learned time and time again, Ronaldo always stands front and centre over set plays.

Fernandes has scored five free-kicks since 2017 whereas Ronaldo has netted just one from 67 tries.

There is clearly a close bond between the two but there should be no surprise if they butt heads over free-kicks and penalties at some stage this season.

 

BENEFITIALS

PAUL POGBA: This is one that could be argued both ways.

Pogba impressed in the opening two games playing further forward down the left but with attacking spots already bulging at the seams prior to Ronaldo’s arrival, his deployment as a deep-lying midfielder at Wolves could be a nod to how it goes for Pogba moving forward.

What Ronaldo’s arrival will do is it should ease some pressure for the Frenchman to carry this team to success.

All eyes will be on Ronaldo, who will earn £385,000 a week at Old Trafford, and that in turn can allow Pogba to focus on his game – something that can only benefit all involved.

 

Like Pogba, Ronaldo has returned to United from Juventus but this is the first time in their careers they will line up on the same side.

Speaking to Telefoot during the international break, Pogba seems excited to have Ronaldo come in and raise the levels of United.

‘It’s always a pleasure to play with the best, it’s a plus for the players to be able to train with a great player,’ Pogba said.

‘He’s going to raise the level of the team.’

What Ronaldo’s clinical finishing should bring – and the attention he will attract, thus creating extra space for team-mates – is more assists for Pogba and while he is yet to sign a new deal at United, Ronaldo’s arrival, and expected success, may convince him to commit for the long-term.

MASON GREENWOOD: On the face of it, Ronaldo’s return completely stunts the development of Greenwood.

But what an opportunity to learn from one of the game’s greatest ever players.

To get to train day in, day out with Ronaldo is a once-in-a-lifetime experience and he can only come out of it a better player.

Greenwood is an ascending talent and scored the decisive goal against Wolves before the international break.

With Rashford out injured and Sancho still settling he may yet get minutes in one of the wide areas in the three behind a striker but it the striking position it is hoped he will be long term for United.

Given his form it would be grossly unfair if he was frozen out entirely to accommodate the likes of Ronaldo and Cavani but he will have to be more adaptable alongside some older team-mates.

Greenwood has previously played down the right and with the ability to cut inside he could still be an effective attacking option while he improves his knowledge of the centre forward position in training with Ronaldo.

Ronaldo’s return sounded the alarm for some with Greenwood’s name cropping up but the United youngster is no doubt rubbing his hands together to work with the five-time Ballon d’Or winner – even if his minutes are at risk of being slashed.

 

 

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