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Dimitar Dzhondzhorov



Articles by Dimitar Dzhondzhorov

StanChart Chairman: Financial Institutions Need Cryptocurrency Presence

14 hours ago

José Viñals – Chairman of the British financial institution Standard Chartered – believes that the cryptocurrency space is an area where every financial institution “needs to be present.” According to him, businesses dealing with digital assets will go through a significant growth period in time.
‘Crypto Is Here to Stay’
In a recent interview for CNBC, the Group Chairman of Standard Chartered – José Viñals – revealed his support for the cryptocurrency industry. He opined that monetary institutions engaged in digital asset endeavors would see “extraordinary development” in the future.
The 67-year-old Spaniard also expects large companies and prominent banks to follow StanChart’s example and jump on the crypto bandwagon in the following weeks:
“The cryptocurrency space is an

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South Korea to Delay Cryptocurrency Taxation Laws: Report

1 day ago

The ruling Democratic Party of South Korea intends to delay the upcoming taxation policy of digital assets. According to the officials, taxing bitcoin and altcoin investors still lacks proper infrastructure.
Delaying The Crypto Taxation
The Democratic Party of South Korea has objections in regards to the upcoming law that plans to start taxing gains made from cryptocurrency investments. According to a recent report, they have even passed a bill that could suspend the legislation, which should have gone into effect at the start of 2022.
The 64-year-old member of the ruling Democratic Party – Noh Woong-rae – opined that the Asian country does not have a well-designed plan to implement the taxing procedure. As such, delaying the initiative seems “inevitable:”
“In a situation

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Financial Institutions Are Coming Big Time for Bitcoin and Crypto, Says Binance CEO

1 day ago

Changpeng Zhao – Chief Executive Officer at Binance – opined that a growing number of traditional monetary institutions had turned their sight into cryptocurrencies recently, especially bitcoin. He also mentioned that the trading platform would change its structure to comply with the regulatory requirements.
Financial Institutions Are Flocking into BTC
In a recent interview for The South China Morning Post, Changpeng Zhao – Founder and CEO of Binance – shared his views on the latest trends in the crypto space. According to him, global financial institutions and investors have already realized the digital assets’ merits. With that said, they have started jumping on the cryptocurrency bandwagon, with bitcoin being their primary interest:
“The financial institutions are

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Venture Firm Raises $350 Million to Double Down on Its Cryptocurrency Involvement

2 days ago

Jump Capital – a Chigaco-based venture capital firm – decided to expand its cryptocurrency engagement by closing its latest fund at $350 million. The company has made 30 investments in the digital asset space in 2021 alone.
Jump Capital’s Seventh Fundraise
The American venture capital firm – Jump Capital – closed its largest fundraising round to date – $350 million. By doing so, the company intends to invest in cryptocurrency sectors like Web 3.0, DeFi, and blockchain and financial applications.
Peter Johnson – a top executive at Jump Capital – noted that the digital asset industry has accelerated with fast temps recently. As such, his company did not want to miss its chances of getting even further involved into the space:
“Crypto is becoming real and the adoption was

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Fidelity Urges The SEC to Greenlight Its Bitcoin ETF Application

2 days ago

The American financial services corporation – Fidelity Investments – urged the U.S. Securities and Exchange Commission (SEC) to approve its Bitcoin exchange-traded fund. According to the company, the regulator should allow the initiative as investors’ demand for digital assets has significantly increased recently.
Looking for The SEC’s Approval
According to a recent filing, the multinational investment management giant – Fidelity Investments – pressured the U.S. Securities and Exchange Commission to approve its Bitcoin exchange-traded fund (ETF) during a private meeting held on September 8th. Participants in the conversation were the President of Fidelity Tom Jessop, six other executives of the company, and numerous SEC officials.
The firm’s representatives cited many

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Despite The Pressure from Coinbase, Estonia Would Not Open Its Doors for Bitcoin Yet

2 days ago

The Prime Minister of Estonia – Kaja Kallas – opined that the country should be very cautious about employing cryptocurrencies in its economic system. She added that even one of the leading digital asset exchanges – Coinbase – urged the government of the small Baltic nation to make Bitcoin legal tender. As of the moment, though, Kallas does not feel “positive about this.”
Following El Salvador’s Move Is Not on The Horizon
The recently elected Prime Minister of Estonia – Kaja Kallas – seems to have a rather negative stance on cryptocurrencies. The 44-year-old leader of the Reform Party believes that digital assets play a huge role in cyberattacks and ransomware. As such, the EU member is reluctant to embrace them at this stage:
“We are sensitive to these issues, and the

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Coinseed Ordered to Halt Its ‘Illegal And Fraudulent Operations’ Related to Dogecoin

3 days ago

The New York Attorney General (NYAG) – Letitia James – won the case against the cryptocurrency trading venue Coinseed. Following the court decision, the platform must shut down after it defrauded its customers by converting their funds into Dogecoin (DOGE) without permission.
NYAG Scores a Victory against Coinseed
According to a recent press release, Letitia James – New York Attorney General – won a court order against the digital asset exchange Coinseed and its Chief Executive Officer – Delgerdalai Davaasambuu.
Coinseed was illegally selling securities. It also acted as a broker-dealer without the necessary authorization before sinking millions of the investors’ funds into DOGE without consent. For those fraudulent actions, the court ordered the trading venue to

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Decreasing Mania? NFT Trading Volumes Have Started to Decline

3 days ago

Investors’ appetite for trading non-fungible tokens (NFTs) seems to have significantly decreased after the all-time highs recorded in August. In fact, during the last three days, Ethereum-based NFT trading volumes have not surpassed $100 million, while at the end of August, they exceeded $500 million for a single day.
NFT Trading Volumes Heading South
According to a recent analysis by Alex Thorn – Head of Firmwide Research at Galaxy Digital – non-fungible tokens’ daily trading volumes have continuously declined every day after the start of September.
For example, on September 1st and 2nd, the NFT marketplace was near $300 million, while after September 10th, it has struggled under $100 million. On the contrary, the trading volumes were registering consecutive all-time high

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MoneyLion to Offer Cryptocurrency Services to Its Clients Starting With Bitcoin and Ethereum

4 days ago

The American fintech company – MoneyLion – announced it would enable users to trade digital assets via its all-in-one financial services application. While initially clients would be able to operate only with Bitcoin and Ethereum, the firm intends to add more cryptocurrencies to the offering in the future.
MoneyLion Joins The Crypto Trend
According to a recent press release, the US mobile financial technology company – MoneyLion – launched a new cryptocurrency service to its customers. The firm allowed them to buy and sell Bitcoin (BTC) and Ethereum (ETH) within its all-in-one app. Adding the two leading digital assets is only an initial process as MoneyLion plans to include numerous other cryptocurrencies.
Dee Choubey – co-founder and CEO of the fintech company – praised

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Gold Is Safe Like a Volvo, Bitcoin Is Like a Ducati Panigale, Says Austrian Investor

4 days ago

The Austrian investor – Ronald-Peter Stoeferle – opined that bitcoin’s USD value would skyrocket with unimaginable temps in the next decade. Still, he believes that the primary cryptocurrency would never flip gold praising the precious metal as the most secure financial instrument. As such, he made a compelling argument that gold operates as a safe Volvo, while BTC is a wild ride like a Ducati.
How Does BTC’s Future Look Like?
In a recent interview for Kitco News, Ronald-Peter Stoeferle – Managing Partner and Fund Manager at Incrementum AG – gave his two cents regarding the merit of the cryptocurrency and its correlation to gold.
The author of the “In gold we trust” report said bitcoin and the yellow metal are actually very similar financial tools. In his opinion, they are

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Adoption: You Can Now Pay For Parking Tickets In Bitcoin Across Europe

12 days ago

The Belgian digital parking start-up – Seety – allowed customers of the application to pay for parking sessions in Antwerp and Brussels with Bitcoin (BTC). Apart from the primary cryptocurrency, the option includes six other digital assets such as Ethereum (ETH) and Dogecoin (DOGE).
Separately, the e-commerce giant ShopCom has allowed its customers to make purchases with various cryptocurrencies as well.
Park Your Car – Pay in Crypto
According to a report by the local media DataNews, the Belgian application – Seety – enabled clients to purchase parking tickets with cryptocurrencies. As of the moment, the offer applies only to the cities of Brussels and Antwerp.
Customers who want to take advantage of the new crypto option should purchase Seety credits via the app.

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Survey: Every Sixth Australian Owns Crypto as Bitcoin Maintains Popularity Crown

13 days ago

According to a recent research, 17% of Aussies have some cryptocurrency holdings. Bitcoin is still the most popular digital asset while Ethereum and Dogecoin ranked respectively second and third.
What is The Crypto Trend in Australia?
Finder’s Consumer Sentiment Tracker – a nationally representative survey of 1,000 Australians conducted by Qualtrics – revealed that one in six locals had entered the digital asset market.
Most hodlers answered they purchased cryptocurrency assets to diversify their portfolio (30%). Bitcoin and the altcoins going up in value ranked as the second-most popular answer with 24%, while 17% are crypto owners because of fear of missing out (FOMO).
Men (23%) are nearly twice as likely to own digital assets as women (11%). However, the proportion of

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Bitcoin is Superior to Gold According to 77% of Russian Investors: Survey

13 days ago

According to a recent survey, around three-quarters of Russian investors consider cryptocurrencies a better investment tool than gold. Less than 9% opined that the precious metal is superior, while 14% believe “familiar national currencies” are the best choice.
Russians Prefer Crypto Than Gold
The residents of the largest country by landmass seem to have a high opinion on digital assets. A recent research conducted by Russia’s Association of Forex Dealers (AFD) revealed that around 77% of the local investors find them the “most forward-looking” investment.
“Familiar national currencies” ranked second as a preferable financial instrument, taking 14% of the votes. Interestingly, only 8.8% picked gold, which many consider the most secure asset for a store of value and a safe

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Australia, Singapore, Malaysia, and South Africa to Conduct a Mutual CBDC Project: Report

15 days ago

The central banks of Australia, Singapore, Malaysia, and South Africa will reportedly launch a trial program to test cross-border payments employing different CBDCs. Their mission: to determine whether the move would enable more accessible transactions.
The Multinational Partnership
Central bank digital currencies appear to be an attractive financial instrument for numerous countries across the globe since many are exploring them as a financial instrument. While governments prefer to explore the matter individually, the central banks of four different nations would use a rather unusual approach.
According to a report by Reuters, Australia, Singapore, Malaysia, and South Africa would join forces to organize a cross-border payments trial using multiple CBDCs. The central

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Sberbank Expects to Register its Blockchain Platform in The Next Two Weeks

15 days ago

The largest bank in Russia – Sberbank – plans to register its blockchain platform with the Bank of Russia by mid-September. The financial institution has also started creating functionality for issuing digital financial assets (DFA) of third parties.
Sberbank’s Next Crypto Move
According to a recent report by the Russian media TASS, the local banking giant – Sberbank – is on its way to register a blockchain-based platform for issuing digital assets with Russia’s central bank.
Anatoly Popov – Deputy Chairman of the Board of Sberbank – stated that the initiative should be completed by mid-September. He added that Sber has already started to create functionality for the issue of DFA by third parties. This option should be ready for customers by the end of 2021:
“We want the

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Binance US Targets IPO in The Next Three Years, Says Changpeng Zhao

15 days ago

Changpeng Zhao – Founder and Chief Executive Officer of Binance – said the US arm of the cryptocurrency exchange could follow Coinbase and have an initial public offering in the next 36 months.
In a recent interview with The Information, the head of Binance – Changpeng Zhao – revealed that Binance.US – the company’s affiliate in the States – plans to launch an IPO in the next three years:
“Binance.US is just going to do what Coinbase did.” – said Zhao.
Coinbase – another leading cryptocurrency exchange – became the first major company in the field to have its shares publicly traded. In mid-April, when the platform had its IPO, it started trading on Nasdaq at a price of around $400. As of now, though, the COIN shares have dropped to around $265.
During his interview,

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Most Europeans Want Local Governments to Regulate Crypto, Not The EU: Survey

16 days ago

According to recent research, around 60% of Europeans prefer their own countries to regulate digital assets rather than the European Union. Interestingly, a growing number of people believe the creation of national digital currencies would grant their nations some financial independence from the EU.
Crypto Regulations Coming from The EU Is Not Preferable
A survey conducted among 31,000 participants from 12 different countries – all part of the European Union – revealed that the vast majority, around 60%, would want their own authorities to regulate cryptocurrencies. On the other hand, roughly 25% believe that the EU would serve as a better watchdog.
Taking a closer look, the residents of the Netherlands and those of Estonia are the biggest supporters of their own

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Standard Chartered Is Now Part of The Global Digital Finance Alliance

16 days ago

The leading British financial institution – Standard Chartered – reportedly became the first bank to join the Global Digital Finance (GDF) Patron Board. StanChart, together with the rest of the members, will work together to accelerate the adoption of best practices across the digital assets landscape.
StanChart’s Latest Crypto Endeavor
The multinational banking and financial services company – Standard Chartered – has joined the Global Digital Finance. With that move, it became the first bank to become part of the GDF alliance as a patron member.
The union has more than 100 organizations and over 350 professionals from across the globe as associates. Together with StanChart, their mission is to support the cryptocurrency industry through a network of strategic innovators.

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Ahead of the Bitcoin Law: El Salvador Votes in Favor of $150M BTC Trust

16 days ago

The government of El Salvador voted in favor of creating a $150 million Bitcoin Trust. Its role: to convert BTC to USD so the local population can balance their cryptocurrency exposure. The initiative comes less than a week before the Latin American country starts using bitcoin as legal tender.
Getting Ready for The BTC Adoption
The Legislative Assembly of El Salvador will develop the cryptocurrency infrastructure by creating a $150 million Bitcoin Trust. It will facilitate conversions from BTC to U.S. dollars ahead of the country’s planned adoption of the digital asset as legal tender on September 7th. The officials approved the new bill with a supermajority decision – 64 voted in favor while 14 went against it.
The Development Bank of El Salvador (Bandesal) will be the

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Bitcoin’s Current Bull Run to Peak at $100,000 by the End of 2021: Analyst

17 days ago

Kevin Wadsworth – co-founder of the technical analysis company Northstar & Badcharts – opined that the current cryptocurrency bull market would “conclude before the end of the year” and bitcoin would reach a price of around $100K. The top executive also stated that the primary digital asset’s USD value might exceed $1 million in 2025.
The Bull Market Is Still Yet to Peak
During an interview for Kitco News, Wadsworth shared an optimistic prediction about bitcoin and the cryptocurrency industry in general. Based on his company’s chart reviews, he forecasted that the current bull run of the digital asset market would reach its peak in the upcoming few months:
“I think the crypto bull market probably will conclude before the end of the year. “
Speaking of bitcoin, Wadsworth

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Standard Chartered Launches Blockchain-based Trade Finance Platform

18 days ago

The British multinational banking institution – Standard Chartered – has teamed up with the financial technology company – Linklogis – to launch a new blockchain-based digital trade finance platform. It comes by the name of Olea, and its goal would be to bring together “institutional investors seeking opportunities in an alternative asset class with businesses requiring supply chain financing.”
‘Olea is Positioned to Reinvent Finance’
London-based bank Standard Chartered would reportedly broaden its product line by launching a blockchain-based digital trade finance platform named Olea. To do so, the financial institution joined forces with the fintech firm Linklogis.
The joint venture’s headquarter would be in Singapore as both companies would equally manage the platform.

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Former DigitalX CEO to Head Binance Australia

18 days ago

The leading cryptocurrency exchange in Australia – Binance Australia – has announced it appointed Leigh Travers as its new Chief Executive Officer. He was previously CEO and Director of the blockchain technology company – DigitalX.
Binance Australia Has a New CEO
According to an official announcement, Binance Australia has tapped Leigh Travers as its new CEO. The top executive has experience in digital assets and blockchain technology since he was in charge of DigitalX for seven years. Travers also served on the Board of Australia’s blockchain industry body – Blockchain Australia – for 5 years.
He revealed that the new position at the trading venue coincides with his interests. Trevors asserted that his goal would be to expand the role of the blockchain industry in the

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Luxurious Swiss Alps Hotel to Accept Bitcoin and Ethereum Payments

19 days ago

The Chedi Andermatt will reportedly become the first Swiss hotel to accept digital assets as a payment method. Guests can now pay accommodation bills surpassing 200 CHF ($218) using bitcoin or ether.
The Venezuelan carrier Turpial Airlines and the famous Belgian bar Dolle Mol also joined the crypto craze by adding virtual assets as a means of payment.
Crypto Adoption in The Heart of The Alps
According to the local media Blick, The Chedi Andermatt started accepting payments in cryptocurrencies. For starters, the luxurious five-star hotel located in the Swiss Alps added the two largest virtual assets by market capitalization – bitcoin and ether. Guests can employ them as a payment method if their accommodation bill exceeds 200 CHF ($218).

Keeping in mind that a double room

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The Largest Crypto Seizure in Brazil: Nearly $29M Worth of Digital Assets Seized

19 days ago

The Brazilian Federal police exposed a local financial pyramid scheme and confiscated nearly $30 million in cryptocurrencies. The operation marked the largest seizure of digital assets in the history of Brazil.
The New Record
According to a report by CNN Brazil, the local authorities organized a special mission, called “Operation Kryptos,” to halt a fraudulent pyramid scheme operating in the area of Rio de Janeiro. After inspecting 15 different locations, the Federal Police arrested five people and executed the largest ever seizure of digital assets inside the borders of the South American nation – around $28.7 million.
One of the five suspects is Glaidson Acácio – an owner of a bitcoin consultancy in the municipality of Cabo Frio, near Rio de Janeiro. According to the

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Digital Pound Does Not Sound Like a Good Idea to 30% of Brits: Survey

19 days ago

According to recent research, every third British citizen fears that a potential digital pound could bring more harm than benefits to the UK economic system. In contrast, 24% believe the so-called Britcoin would turn to be a successful financial instrument.
Britcoin Brings More Suspicion Than Excitement
The US journalism company Politico surveyed 2,500 British adults to determine their opinion on issuing a digital version of the local pound currency. The majority of the respondents (30%) stated they do not support such an idea.
According to them, the British CBDC, also known as Britcoin, would not positively impact the local economy, which passes through difficult times caused by the COVID-19 pandemic and Brexit.
Fear of hackers and cyber attacks ranked as a top reason why

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Australians Reported Loses of $25M from Crypto Scams in the First Half of 2021

20 days ago

Cryptocurrency scams were reportedly the most common type of fraud in Australia during the first six months of the year. Locals parted with roughly $25 million after becoming victims of such fraudulent schemes.
‘If Something Sounds Too Good to Be True, It Probably Is’
According to a recent report by the Australian Competition and Consumer Commission (ACCC), investment scams have risen to record levels in the country this year. Interestingly, frauds involving digital assets represent half of the total cases.
Delia Rickard – ACCC Deputy Chair – revealed Aussies lost nearly 70 million AUD (or 50 million USD) because of such scams for the period between January and July 2021. Cryptocurrencies, and especially Bitcoin, ranked first as the most common investment frauds:
“More

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Cardano’s IOHK Partnered with EBU to Make Education in Africa More Accessible

20 days ago

Input-Output HK – development company and driving force behind Cardano (ADA) – joined forces with the European Business University of Luxemburg (EBU). Their goal is to make education in developing African countries more “accessible, affordable, and equitable.”
Cardano’s New African Endeavors
The research and development organization Input-Output HK (IOHK) announced the collaboration with the European Business Univerisity of Luxemburg (EBU) earlier this week:
“We are pleased to announce a new and exciting partnership between IOHK and the European Business University of Luxemburg.”
The education provider has stretched to over 36 global organizations and currently educates 2,000 students in Africa. With that said, IOHK would aim to provide training programs and further

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AriseCoin’s Inventor Embezzled More Than $4 Million in a Crypto Scam, Goes to Prison for Five Years

20 days ago

The authorities in Texas sentenced the CEO of AriseBank – Jared Rice, Sr. – to spend the next five years in federal prison. Apart from the jail time, the criminal would have to restore approximately $4,250,000, which he embezzled from investors throughout his cryptocurrency-related schemes.
Justice at Last
According to a recent press release from the US Department of Justice, Jared Rice, Sr. will spend the next 60 months behind bars. The American, who was in charge of AriseBank and inventor of its native token AriseCoin, admitted luring investors into his crypto scheme and stealing more than $4 million worth of digital assets.
The 33-year-old lied to his customers that AriseBank was the world’s “first decentralized banking platform.” He was also praising the cryptocurrency

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Adam Back and Stock-to-Flow Model Anticipate Bitcoin (BTC) to Reach $100K by The End of 2021

21 days ago

The British cryptographer Adam Back expects bitcoin to reach a price of $100,000 by the end of the year. Comparing the primary cryptocurrency to gold, he praised the former as the better financial instrument.
In addition, Florian Grummes – precious metal and bitcoin analyst – shared a similar point of view. The virtual asset’s USD value would decline to $34-38K, but in six months, it would stand at $100,000.
Interestingly, both of these forecasts coincide with the popular stock-to-flow model that sees BTC tapping $100K by Christmas 2021.
The Road to $100K
In a recent interview with Anthony Pompliano, the CEO of the blockchain technology firm Blockstream – Adam Back – stated the global acceptance and deployment of bitcoin had reached a satisfying level. With that said, he

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India to Launch Trials for its CBDC by The End of 2021, RBI Governor Confirms

21 days ago

Shaktikanta Das – the governor of the Reserve Bank of India – said the financial institution could launch its first trial programs for a digital rupee by December this year. The initiative would determine the security of the Indian CBDC and its impact on the local economic network.
India’s Approach to a CBDC
In a recent interview for CNBC, Shaktikanta Das revealed the Reserve Bank of India’s plans to begin trials for a central bank digital currency before the end of this year. RBI’s mission would be to examine how a potential e-rupee would be incorporated in the Indian financial sector. The trial programs would also analyze the security of the future project:
“I think by the end of the year, we should be able to – we would be in a position, perhaps – to start our free

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