3 Cryptos to Keep an Eye On in 2023: Algorand (ALGO), Litecoin (LTC), Flasko (FLSK)

newsbtcPublished on 2023-01-16Last updated on 2023-01-16

Abstract

Flasko is one of those with serious long-term growth and profit potential – perhaps more so than Algorand (ALGO) or Litecoin (LTC) in 2023. Here’s why.

Not all cryptocurrencies were made equal. Some cryptocurrencies were developed to solve real-world problems, while others were made exclusively for speculation. It’s not hard to tell which ones have the potential to grow exponentially and which ones may very well fall by the wayside. Flasko is one of those with serious long-term growth and profit potential – perhaps more so than Algorand (ALGO) or Litecoin (LTC) in 2023. Here’s why.

Algorand (ALGO) Continues Downtrend Trend

Algorand (ALGO) is a decentralized distributed ledger protocol that supports smart contract development, atomic swaps, and the creation of assets. Algorand (ALGO) was developed as a more scalable, faster, and interoperable blockchain that can compete with the new and old generations. Moreover, Algorand (ALGO) serves as the ecosystem’s native token, which individuals can use to vote on governance proposals, a stake for yield, or mint and trade NFTs with.

But despite Algorand (ALGO) making the headlines with its official partnership with international football governing body FIFA, token prices couldn’t reverse bearish momentum: Algorand (ALGO) token prices have fallen by as much as 96% from their all-time high value. Moreover, Algorand (ALGO) market cap has substantially diminished, meaning the market is full of sellers.

Litecoin (LTC) Struggles to Stick

Litecoin (LTC) is an open-source crypto network purporting to be faster than Bitcoin. Litecoin (LTC) is one of the more established tokens and the top 20 mainstays in market capitalization. Litecoin (LTC) was developed to be a transactional currency. However, Litecoin (LTC) prices have been immensely affected by the downturn in the financial markets, losing over 83% of its all-time high value of $410.

However, there are more projects with better profit-generating potential than betting on the Litecoin (LTC) bounce.

Flasko (FLSK) Presale Attracts Tens of Thousands

Forget investing in Litecoin (LTC) or Algorand (ALGO) in this bear market; instead, invest in Flasko, a protocol with serious potential to do a 50x increase. Flasko is enabling crypto investors to participate in the alternative investments sector through NFTs backed with real, physical bottles of investment-grade rare wines.

Flasko offers crypto investors a chance to invest in an asset class that has performed better than traditional securities or commodities. Flasko does this by enabling users to invest in NFTs representing the highest-grade investment wines and whiskeys so they can profit from their appreciating prices, sell them to speculators, and help boost the value of their portfolios.

Flasko also offers presale investors a chance to be part of three VIP tiers depending on their drink of choice. They could be part of the Whiskey, Wine, or Champagne club, which will give them 24/7 access to a personal account manager, access to Flasko-sponsored events, and get first dibs on exclusive products from Flasko’s partners.

Flasko is currently on its Phase Two Presale, with plans to list on decentralized exchange Uniswap shortly. Its discounted price of $0.1575 is an excellent entry point for presale investors because crypto analysts predict Flasko to do a 50x in 2023 to hit prices of $5 to $5.50. And with an audit from Solid Proof and a 33-year lock on platform liquidity, Flasko is programmed to skyrocket in value.

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The Full Story of How Crypto Unicorn Blockstream Is Mired in Serious Fraud Allegations

This article details serious allegations of fraud against Bitcoin infrastructure company Blockstream, founded by Bitcoin pioneer Adam Back. In June 2024, investigative account NatInfoSec published a report accusing Blockstream's mining note (BMN) program of potentially operating a multi-billion dollar scheme with Ponzi-like characteristics. The core allegations focus on Blockstream Mining Notes (BMNs), which offer investors fixed annual yields up to approximately 20% from Bitcoin mining. NatInfoSec's investigation raises several key issues: 1. **Suspicious Hashrate & Payout Capacity**: The analysis suggests Blockstream would need 20-45 EH/s of mining power to cover its BMN obligations, but its public dashboard shows only around 15 EH/s. Furthermore, no verifiable public evidence (e.g., grid connection records, import data) was found to support the massive mining operation required. 2. **Questionable Payout Source**: The BMN contract allows Blockstream to use Bitcoin from *any source* (Substitute Performance BTC) to fulfill investor payouts, raising concerns that payouts may not come from actual mining revenue. 3. **High-Risk, Fixed Returns**: Offering ~20% fixed yields in the volatile, cyclical Bitcoin mining industry is viewed as highly unusual and requires clear explanation. 4. **Undisclosed Criminal Record of Key Figure**: Christopher William Cook, a key figure in Blockstream's mining operations and CEO of spin-off Exacore, was found to have a federal felony conviction for mail fraud in 2008, a fact not disclosed in BMN offering documents. His background was also allegedly embellished. 5. **Potential Contagion to BSTR SPAC**: Questions were raised about whether these liabilities and Cook's record should have been disclosed in the SEC filings for Bitcoin Standard Treasury Company (BSTR), a separate Adam Back-associated firm planning a SPAC merger. The crypto community is divided. BitMEX Research validated Cook's criminal record and expressed concern over the high yields but found other evidence lacking or misleading, noting the legal separation between BMN, Blockstream, and BSTR. Blockstream defenders, like Samson Mow, argue the mining is real. Critics, however, emphasize the lack of independent, verifiable proof of the mining operation's scale and the true source of investor payouts. The article concludes that BMN remains shrouded in key unanswered questions regarding its actual size, the verifiability of its underlying mining assets and payouts, the source of its high yields, and the full role and disclosure concerning Chris Cook. Blockstream had not issued a comprehensive response at the time of writing.

marsbit22m ago

The Full Story of How Crypto Unicorn Blockstream Is Mired in Serious Fraud Allegations

marsbit22m ago

South Korea Targets 40 Unregistered Crypto Operators in Regulatory Crackdown

South Korea's Financial Intelligence Unit has referred around 40 unregistered virtual asset service providers to the police as part of a regulatory crackdown. Under local law, all crypto exchanges must obtain ISMS certification and FIU registration before operating, yet only 28 entities are currently registered. The FIU identified methods used by offshore platforms to attract Korean users, including advertising on local messaging apps and using private money changers to convert stablecoins. Officials stressed that unregistered platforms are not protected by Korean law. This action aligns with South Korea's push for stricter global crypto compliance through FATF measures. FIU Director Lee Hyung-joo recently urged FATF members to remove transaction thresholds for the "Travel Rule," as South Korea plans to mandate identity checks for all crypto transactions starting in August, expanding from the current 1 million won (≈$730) minimum. Regulatory enforcement has intensified in 2026, with authorities pursuing criminal cases against market manipulation schemes and enhancing cooperation with financial institutions to curb cross-border illegal transactions.

TheNewsCrypto57m ago

South Korea Targets 40 Unregistered Crypto Operators in Regulatory Crackdown

TheNewsCrypto57m ago

The Full Story Behind Encryption Unicorn Blockstream's Deep Entanglement in Serious Fraud Allegations

This article details allegations of serious fraud surrounding the crypto company Blockstream, founded by Bitcoin pioneer Adam Back. Investigation account NatInfoSec accuses Blockstream of raising billions through its Blockstream Mining Note (BMN) products, which offer high fixed yields of up to 20% from purported mining revenue. The core allegations are: 1) Blockstream's public mining hash rate (15 EH/s) appears insufficient to cover the massive payout obligations from sold BMN notes, raising questions about the true source of investor payouts. 2) Key executive Christopher William Cook, central to the mining operations, has a prior federal conviction for mail fraud, a fact not disclosed to investors. Cook's background and lavish lifestyle are highlighted as red flags. 3) The structure allows payouts from any source of BTC, not necessarily mining revenue, which critics argue gives it Ponzi-like characteristics. The controversy also touches on Bitcoin Standard Treasury Company (BSTR), a related entity planning a SPAC上市. Critics question whether BMN's liabilities and Cook's record should be disclosed in BSTR's filings. BitMEX Research offered a tempered analysis, confirming Cook's criminal record is likely true and the high yields concerning, but found other claims like insufficient抵押证据 less substantiated. Community debate centers on the need for verifiable proof of Blockstream's mining output and revenue. The article concludes that while fraud is not proven, BMN presents significant, unresolved questions regarding its actual scale, the source of its high fixed returns, the verifiability of its mining operations and payouts, and the full disclosure of associated risks and personnel backgrounds. Blockstream has not yet issued a formal response.

链捕手1h ago

The Full Story Behind Encryption Unicorn Blockstream's Deep Entanglement in Serious Fraud Allegations

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Crypto Lobby Pushes Congress To Keep Staking And Mining Tax Bill Intact

Crypto advocacy groups are urging U.S. lawmakers to pass the Tax Clarity for Mining and Staking Act (H.R. 9175) without changes. The bill seeks to clarify that rewards for proof-of-work miners and proof-of-stake validators are taxed only when the assets are sold, not immediately when received. This deferred tax treatment is crucial for operators' cash flow and profitability. The proposal faces opposition from banking interests, who argue it could give crypto yield products an unfair advantage over traditional savings. The outcome will impact network decentralization, as complex tax rules could push out smaller operators. The lobbying effort marks an expansion of crypto's policy focus beyond market structure into tax rules that underpin network economics. The bill's fate depends on whether Congress advances it as a standalone clarification or part of a broader digital-asset package.

bitcoinist2h ago

Crypto Lobby Pushes Congress To Keep Staking And Mining Tax Bill Intact

bitcoinist2h ago

Legacy Polygon Royalties Contract Exploit Drains $261K Through Reward Logic Flaw

A hacker exploited a legacy Polygon royalties contract, stealing approximately $261,200 in cryptocurrency. Security firm TenArmorAlert identified the attack on June 23. The exploit was made possible by a flaw in the contract's reward calculation logic within the Royal1155LD.beforeLdaTransfer() function. By executing several zero-value transactions, the attacker manipulated reward accounting and token ownership data, artificially inflating balances to enable excessive withdrawals. The attacker also utilized a flash loan to amplify the exploit's profit after repayment. This incident highlights ongoing security risks associated with older, inactive smart contracts that still hold funds, following similar recent exploits. Developers are urged to audit, update, or decommission such legacy deployments to prevent future attacks. The Polygon blockchain's core infrastructure was not compromised.

TheNewsCrypto2h ago

Legacy Polygon Royalties Contract Exploit Drains $261K Through Reward Logic Flaw

TheNewsCrypto2h ago

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