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What is Crypto Advocate John McAfee’s Net Worth?

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John McAfee

John McAfee has emerged as one of the most influential individuals in the cryptoverse. Learn about this one-of-a-kind crypto advocate, including how much his net worth is estimated to be.  

Who is John McAfee?

You’ve likely used or at least heard about the McAfee antivirus software. It ranks among the top cybersecurity tools to use in ensuring protection from attacks. 

John McAfee is the British-American entrepreneur and computer programmer who founded McAfee Associates in 1987. Prior, he worked at NASA (National Aeronautics and Space Administration) and Lockheed. McAfee Associates produces enterprise security software, even though John resigned in 1994. He has founded other companies such as QuorumEx, Tribal Voice, Luxcore, and Everykey, among others.

A known political activist, his interests also stretch into cryptocurrency, smartphone apps, and yoga. 

Timely Cryptocurrency Boom

In 2017, the ICO (Initial Coin Offering) boom saw hundreds of companies release projects for funding from investors globally without limits on international securities regulations. Riding on the price boom of bitcoin and Ethereum, it was as though a separate economy was spurring overnight. Token prices went from zero to one in hours, with profits surging exponentially in hours or days.

One would call it a craze, but McAfee positioned his profile to benefit from the boom. 

Initially, those who opened up their projects for funding this way simply followed the promise of Bitcoin (financial system independence) and built on Ethereum. Legitimate companies and scammers alike put their proposals for the world to decide, therefore, the battle for legitimacy created high stakes. It wasn’t enough to have a good project; the team /company needed to show who endorsed them or their project.

This is the space in which McAfee could thrive as an industry titan trusted globally.

The Crypto Advocate

John McAfee Net Worth

Gage Skidmore from Surprise, AZ, United States of America, CC BY-SA 2.0 via Wikimedia Commons

Imagine taking in about 8 BTC per tweet in a boom; that’s exactly what he did.

The highest prediction he made about the price of bitcoin was between $ 500,000 and 1 million per bitcoin. The admission he made later was that these predictions were to excite and draw new users on board.

An estimated 50 ICOs were promoted on his public Twitter profile. Each promotion cost $100,000. This would bring the number of bitcoin he owns to about 400 if we take an average number of 8 bitcoin according to the price fluctuations in 2017, but the total amount, along with the ownership of other cryptocurrencies remains undisclosed. Assuming a holding of 400 bitcoin at today’s price of US$ 32,478, McAfee’s 400 bitcoins would be worth 12.9 million dollars. 

John McAfee Net Worth: So, How Much Is It Now?

John McAfee lost a significant portion of his net worth due to the 2008 financial crisis that crippled economies around the world. From a valuation of $100 million, his assets hit a low of $4 million in 2009, according to the New York Times.

He certainly worked his way back into profitability through his subsequent ventures in QuorumEx, Future Tense Central, and his tenure at MGT Capital Investments.

MGT is supposedly his gateway into crypto because in 2016 its focus was shifted first from social gaming to cybersecurity. MGT also moved into mining bitcoin and other cryptocurrencies to make money and increase its blockchain expertise. McAfee deemed this strategy vital for cybersecurity, holding it even into his subsequent resignation in 2018.

According to publicly available data, John McAfee’s net worth could range from US$ 7.2 to 20 million.

His run-ins with the law have had him living as a fugitive; for in 2019 he lived on his boat, running from U.S. authorities. He was arrested in October 2020 in Spain at the request of the U.S. Department of Justice for tax evasion charges. 

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Amber Group Announces Q3 2022 Launch of Openverse, the Gateway Into the Metaverse

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Openverse

SINGAPORE, 11 May 2022Amber Group, the leading global digital asset platform, today announced its entry into the metaverse with the launch of Openverse, a Web3 enablement platform for creators, brands, and businesses. A culmination of Amber Group’s multi-disciplinary expertise in digital architecture and blockchain-native infrastructure, Openverse serves as a gateway to the metaverse, empowering Web2 creators, brands and businesses with tools and services to transition into Web3.

Amber GroupWith the metaverse economy projected to reach $13 trillion by 2030, Openverse marks Amber Group’s venture into Web3 community building. Due to launch in Q3 2022, Openverse is a significant milestone in Amber Group’s plans to aid businesses, industries and societies as they transition into Web3. As a one-stop platform, Openverse will create entry points into the metaverse by delivering end-to-end creative and digital infrastructures for creators, brands, and businesses.

“Digital assets are the first step in realizing a decentralized future where people are empowered to create and connect with online communities, unlocking new digital experiences. While there has been a lot of interest in the metaverse, it remains largely conceptual. With Openverse, we are taking a solid step towards creating this digital reality for all. Backed by our expertise and partnerships within the digital asset ecosystem, Openverse is at the forefront of onboarding businesses and communities into the metaverse, unlocking the true potential of decentralization,” said Amber Group’s Chief Executive Officer, Michael Wu.

Openverse is designed to be a Web3 enablement platform, supported by leading real-time 3D rendering technology to create an experiential digital world for all users. The platform will be accessible on mobile, desktop and VR platforms, and will come equipped with features such as real-time content interaction, gameplay, customizable digital avatars and an NFT valuation system. Openverse will also leverage Amber Group’s flagship digital asset platform, WhaleFin, for its crypto financial services, creating synergies with the company’s thriving consumer business line to expand the reach of its digital asset services.

“We are excited to launch Openverse and convert the possibilities of the metaverse into reality in the next few months. As we develop a gateway for everyone to journey into the metaverse together, we are also building a strong line-up of partnerships with gaming studios, sporting brands, digital artists, and creators in an effort to bridge the gap between physical and virtual economies. Not only will this encourage more Web2 users to migrate into the metaverse, it will also herald a new era for digital assets worldwide,” said Openverse’s Chief Executive Officer, Jo Xu.

About Amber Group

Amber Group is a leading digital asset platform operating globally with offices in Asia, Europe, and the Americas. The firm provides a full range of digital asset services spanning investing, financing, and trading. Amber Group is backed by prominent investors including Sequoia, Temasek, Paradigm, Tiger Global, Dragonfly, Pantera, Coinbase Ventures, and Blockchain.com.

For more information, please visit www.ambergroup.io.

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Why Crypto Casinos Are on the Rise in Africa

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Online gambling has become a rapidly evolving industry. Today, many online casinos are embracing cryptocurrencies to stay on top of the latest trends in finance and technology. 

Because of the continued evolution in the online casino space, crypto casinos in Africa have experienced and continue to experience rapid growth. But, why exactly is this the case?

Read on to learn why crypto casinos are on the rise in Africa. 

Crypto Adoption is Booming in Africa

One of the main reasons why crypto casinos are on the rise in the African continent is because of the booming crypto adoption.

Africa’s crypto adoption rate is reportedly the highest globally. For instance, between July 2020 and July 2021, African countries alone received close to $105.6 billion worth of crypto, representing a 1,200% increase in value within that period only.

Some crypto casinos have been able to benefit from Africa’s high crypto adoption rates by accepting bets in digital currencies such as bitcoin (BTC) and litecoin (LTC). 

Anyone Can Take Part 

Using cryptocurrencies, there are zero restrictions as to who can send or receive payments, alleviating all potential payment issues that can arise with traditional payments companies when you are located in certain African countries. 

Additionally, players are guaranteed privacy, which is very appealing to most online casino players. This is because players don’t have to share their names, location, or bank details to receive payments from the online casino they are using.

Fast Deposits and Withdrawals

One challenge with traditional fiat currency that most casino players experience is that it can take up to a few days for a transaction to complete. Moreover, having to change the pay-outs from fiat to crypto and vice versa in order to deposit or withdraw funds into an online casino can become costly.

However, cryptocurrency transactions typically only take a few minutes. This means that players are able to near-instantly make their deposits and withdrawals with very little wait time, thus being able to fully maximise any potential profits. Additionally, crypto transactions are also very secure.

African Gamblers Want to Win Crypto

Another reason for the rise in crypto casinos in Africa is because African gamblers want to win crypto. 

African currencies in many countries have been known to suffer from currency devaluation thanks to high inflation rates, which have resulted in citizens turning to cryptocurrencies such as bitcoin. Besides, players also find it hard to make bets on online casinos using fiat currency as they become unable to fully maximise their profits due to high inflation.

Given that cryptocurrencies such as Bitcoin are a store of value, players can also choose to HODL their pay-outs for as long as they need in their crypto wallets and trade the same when the price of bitcoin, for example, rallies. This way, players are not only able to earn some “extra” money, but they are also able to avoid paying costly fees in transactions when converting from fiat to crypto and vice versa.

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Weekly Roundup: African-Inspired NFT Art Collection to Launch in October & More

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African Inspired NFT Art Collection

An African-inspired NFT art collection is set to launch in October. To learn about this and other top stories this week, read on.

African-Inspired NFT Art Collection to Launch in October

Masks of EtherMasks of Ether, an NFT collection that draws inspiration from West African tribal art, will launch on October 5. Harrison Foko, the artist and creator of the NFT collection, “will release 10,000 generative images featuring pixel art masks.” Foko’s goal is to bring traditional African art to the blockchain and expose it to new audiences.

“I am excited to bring my own roots into the NFT space. Using something so tribal and traditional in this modern pixel-art form has never been done before. The community is ready and excited for something new,” he said.

Foko plans to give $100,000 of the NFT proceeds to The CryptoSavannah Foundation and Survival International. The former is a non for profit organisation using the blockchain to change African lives, while the latter is a human rights organisation that fights for the rights of indigenous people.

More and more African artists are embracing non-fungible tokens. For instance, these three Zimbabwean artists have made some income from selling their art on NFT marketplaces.

Crypto Exchange Yellow Card Secures $15M in Funding

Yellow Card, a crypto exchange operating in twelve countries, has secured $15 million in funding. According to the company, they will use the funds to scale their operations. Since the beginning of the pandemic, the company has increased its users across Africa almost 30-fold.

Yellow Card

“Our mission has always been to make cryptocurrency accessible anywhere and everywhere across the African continent. Now, we have the backing to make that a reality, alongside an amazing team of investors who share our vision,” said Chris Maurice, the CEO.

The Series A funding round was led by Valar Ventures, Castle Island Ventures, and Third Prime with participation from Square Inc., Coinbase Ventures, Polychain Capital, GreenHouse Capital, BlockFi, Blockchain.com, MoonPay, and more.

“We believe in Yellow Card’s vision of a Pan-African cryptocurrency platform. What cemented the deal is their multi-national team, which we believe has the local knowledge, technical expertise, and unequivocal passion to address the basic financial services needs of the continent,” stated James Fitzgerald from Valar Ventures.

eNaira Website Goes Live

Nigeria’s eNaira website is live ahead of the launch today. This could indicate that the Central Bank of Nigeria (CBN) is keen on seeing its plans for a Central Bank Digital Currency (CBDC) succeed.

The website states: “[The] eNaira serves as both a medium of exchange and a store of value, offering better payment prospects in retail transactions when compared to cash payments.”

With a CBDC in place, experts are worried that Nigeria will follow China’s steps and implement more anti-crypto policies.

“Yes, we expect the CBN to champion even more anti-crypto policies, as it is clear it sees crypto as a hindrance to its monetary policy objectives even though data confirms that as a fallacy. Every crypto company in Nigeria should innovate ways to work within a restrictive system and think about jurisdictional changes,” Chiagozie Iwu, CEO of crypto exchange Naijacrypto said.

Paxful Promotes Crypto Developers in Nigeria with Donation

Paxful has announced that it is donating to the Human Rights Foundation. The funds will go to “the Qala Fellowship, a program that will find and grow local Nigerian talent, starting with the developers who want to build a career in crypto.” The program will help the crypto developers to contribute to the open-source network, secure jobs with bitcoin companies, or start their own companies.

Paxful

Paxful CEO Ray Youssef said: “Paxful follows energy, and it is clear that the Nigerian youth will make a profound impact on the global economy through Bitcoin. They have entrepreneurship baked into their DNA, but they [do not have] the chance to showcase their talent on the global stage. First and foremost, the Qala Fellowship is a career roadmap for Nigerian developers. But it also is a way to support the local economy and a means for Bitcoin to capture more developer mindshare. We are proud to fund this project and cannot wait to see what these developers create.”

Nigerians that join this program will benefit from a six-month course that will teach them everything they need to be successful crypto developers. Moreover, Qala Fellowship will facilitate internships and full-time jobs and set up talks with seasoned professionals.

To learn more about Bitcoin, download the Bitcoin Beginner’s Handbook for free.

Bitcoin Beginner's Handbook

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