The Federal Reserve has made it easier for progressive financial organizations to access their master accounts and participate in the international monetary system. This appears to be a step towards the [US Federal Reserve granting crypto banks direct access to the Fed's funds](https://99bitcoins.com/bitcoin-news-summary-aug-22-2022/), eliminating the need for these institutions to work with traditional financial intermediaries.

## U.S. Federal Reserve eases access to central banking for crypto banks

The U.S. Federal Reserve announced it would release the final rules governing how [alternative financial institutions](/news/article/crypto-friendly-banks-uk) may gain access to its "master accounts," which are required to participate in the international monetary system.

The Federal Reserve seems to be moving closer to providing Wyoming's special purpose depository institutions (SPDIs) like Custodia (previously Avanti) and Kraken Bank access to these accounts, eliminating the need for intermediate banks. In 2017, the Fed initiated the guidance proposal process by issuing a request for comments.

After almost 300 people commented, the second round of public feedback was held earlier this year. Fed Vice Chair Lael Brainard released a statement in which she said, "The new guidelines establish a consistent and transparent process to consider requests for Federal Reserve accounts and access to payment services to ensure a safe, inclusive, and creative payment system."

[The new regulations are essentially in line with proposals from 2021](https://www.coindesk.com/policy/2022/08/15/us-fed-opens-pathway-for-crypto-banks-to-tap-central-banking-system/), which will establish a tiered approach that will allow the Fed to tailor its vetting process for providing access based on the type of financial institution making the request. There is a progressively more thorough evaluation procedure at each tier.

The recommendations would make Tier 1 banks eligible for FDIC insurance. "Subject to prudential supervision by a federal banking regulator," but not "federally insured." Companies in the third tier are "not federally insured and nor subject to prudential supervision by a federal banking institution," which describes the Wyoming crypto banks.

The Fed received feedback after issuing its initial proposed guideline in 2021 and its modified the guidance earlier this year, as stated in the press release.

Many comments suggested that the Proposed Guidelines make it more difficult for institutions with unusual charters to open accounts and use services.

Regardless of the institution's operations, many commenters felt that the Proposed Guidelines should hold all financial institutions and crypto banks to the same standards as federally insured depository institutions.
 


Central banking access eases for crypto banks

Afrostar launched its cryptocurrency token in November 2021 and plans to launch a coin on a bespoke blockchain imminently. The introduction of this crypto asset comes at a time when countries around the world begin to regulate the integration of cryptocurrency in developed economies.

Afrostar aspires to combine Africa's digital assets under a single brand. It is envisaged that the asset would be widely accepted across the region and eventually become one of the world's most popular cryptocurrencies.

## What is the Afro star coin project?

[Afrostar](https://www.afrostar.io/) has created cryptocurrency token that is currently live called AFRO on the Binance Smart Chain. The intention is that trade between African countries will be facilitated by the adoption of this token, and Africans will be able to invest in it and the underlying platform to earn profits.

The Afrostar  project plans to develop coins, online tools and decentralized applications (dApps) aimed at cryptocurrency investors. A new coin will be launched along with the project's own blockchain, NFT platform and cryptocurrency trading exchange. An Afrostar app is in development to make all the offerings accessible.

Africa's residents will be able to use the Afro star coin blockchain to create dApps and [access blockchain-based services](/news/article/applications-of-blockchain). 'We are happy to announce the groundbreaking Afrostar platform, Africa is the future of the globe and we want to be a part of making it so. ' stated a project representative.

### The Afrostar project is divided into three phases: 

1) Phase 1: The Afrostar [token](/news/article/crypto-coin-vs-token) was launched. 
2) Phase 2: Launch of the Afrostar coin and blockchain.
3) Phase 3: Launch of NFT and exchange platforms.

## Is Afrostar going to be a hit?

According to data from CoinGecko, Afrostar's native coin, AFRO, had a recent daily trading volume of over $2 million. The Afrostar project is being developed at a time when Africa is one of the top three global markets for cryptocurrency adoption.

Because of the continent's burgeoning digital currency market, the new project will include a wide range of features that Africans have shown a need for. There were already 0.5 million prospective Afrostar consumers at the start of construction.

The project's backers have decades of business expertise and have already begun a successful marketing effort to raise awareness of the initiative among the general public.

## Is Afrostar open to all investors?

While the Afrostar initiative has a significant focus on Africa, the app and the Afrostar token can be used by people throughout the world. The token's value will rise in direct proportion to the number of individuals using the app.


What is Afro star coin? Africa's crypto overview

If you've been reading about the various uses of the [Manta coin](https://coinmarketcap.com/currencies/manta-network/) protocol, you've probably noticed that it has a lot of different underlying digital assets. This is because Manta allows users to exchange digital assets anonymously through the use of the MantaDAX platform.

These exchanges and payments are entirely private and anonymous, as they use two old coins and generate two new ones. This makes them a particularly good choice for a variety of purposes.

## zk-SNARKs

The zk-SNARKs cryptographic algorithm is implemented by the Manta network. Essentially, it's a method that allows two counterparties to verify information without sharing the underlying data.

This could be useful for things like logging into a website and confirming one's identity. This would ensure that a user's identity and transactions remain confidential.

Ring signatures and zk-SNARKs have both been the subject of criticism since the project was first introduced to the mainstream. However, new developments have solved most of the identified design flaws.

For instance, research has criticized the Monero ring signature scheme. A leaked reference string could be used to create undetectable fake proofs. Secondly, zk-SNARKs' reference string cannot be upgraded. 

## Substrate framework

The substrate framework is the main technology behind the Manta network, an on-chain privacy protocol that utilizes zero-knowledge proofs for private crypto assets. The manta network interoperates with the Kusama and Polkadot ecosystems.

The network recently launched a new logo and shifted its focus from product development to brand building and strategy. It is now looking to secure a place in the crypto sphere with the support of the substrate framework.

The team at Manta Network has built a private layer to the Polkadot ecosystem, which is natively compatible with other projects and parachain assets. In addition to this, the network has wrapped several major cryptoassets such as Bitcoin, Ethereum, and Litecoin.

The company released a test net during Q1 of 2021. It has already submitted its architecture to the Web3 Foundation and the International Association for Cryptologic Research (IACR).

## MANTRA DAO

MANTRA DAO, a blockchain technology development company, has created [a new protocol called DeFi](/news/article/instrumental-finance-defi). The project is built around the idea of storing collective wealth with crypto assets, which is similar to a bank.

This protocol utilizes crowd wisdom to create a decentralized ecosystem that is community-governed and transparent. It was first created for the Polkadot ecosystem but has since expanded to other popular dApp platforms, including Ethereum and Binance Smart Chain. The project is also planning to launch its own chain, MANTRA, which will support the Terra cryptocurrency.

While MANTRA DAO is not completely decentralized, it will be maintained by a foundation led by a five-member council. These members have extensive experience in the cryptocurrency trading industry.

They will each serve a two-year term and are eligible to form sub-councils to focus on specific areas. It is important to note that MANTRA DAO is not yet battle-tested, so there isn't much data available to support its claims.

## Polkadot

Adding security, scalability, and interoperability to the blockchain is the mission of the Polkadot ecosystem. As part of its ecosystem, over 350 projects are available, ranging from smart contracts to decentralized finance to digital collectibles and gaming.

The DOT tokens that support the ecosystem are distributed among the DOT holders. The network also offers cross-chain functionality for facilitating transfers of any type.

The network's main blockchain, called the relay chain, has many parallel chains that can be used to transfer value.

The linking layer, or bridge, is designed to connect the various blockchains. It also allows for the integration of non-blockchain databases. These features make it possible for developers to operate across different blockchains. Manta Network is a leading project within the Polkadot ecosystem.


The Manta coin protocol explained

After the launch of RippleNet's On-Demand Liquidity (ODL) with foreign exchange provider Travelex, Ripple's XRP token will be used to facilitate fast and low-cost cross-border transactions in Brazil.

On 18 August 2022, Ripple announced that the foreign exchange company Travelex currency services would use RippleNet's ODL to facilitate XRP-based cross-border payments between businesses.

Furthermore, Travelex Bank was cited as the first Brazilian financial institution authorized to deal solely in foreign exchange by the country's Apex bank. [Ripple](/news/article/xrp-case-price-uk) claims this is the first time a Latin American bank has used ODL.

However, other Latin American businesses like Banco Rendimento, Remessa Online, Frente Corretora, and Banco Topazio have used RippleNet services. For now, Travelex will only facilitate these payments between Brazil and Mexico.

Still, the company has plans to expand into other countries in the region and develop additional use cases tailored to the requirements of businesses.

## Travelex currency services and Ripple targeting the Brazilian market

News of the development follows the April 2022 passage of Brazil's first "Bitcoin law," which sought to establish a regulatory framework for treating virtual currencies. The Brazilian central bank is also launching a digital currency (CBDC).

However, economist Fabio Araujo believes that the CBDC "will be able to halt bank runs and impose other restrictions on citizens' access to money," even though this decision has been met with much opposition.

Brazil's adoption of a crypto-friendly regulatory framework and rising institutional interest in digital asset solutions make it a great fit for the ODL, [according to Ripple CEO Brad Garlinghouse](https://cointelegraph.com/news/ripple-partners-with-travelex-to-launch-enterprise-crypto-payment-service-in-brazil). Ripple sees Brazil as a crucial market because of the country's strategic location as a hub for Latin American trade, its tolerance of cryptocurrencies, and the government's efforts to foster the development of the fintech industry on a national scale.

For this reason, there has been a flurry of activity in the market as institutions rush to adopt crypto and blockchain technology to address customer concerns.

Travelex currency services adoption of the ODL service will greatly improve the efficacy of cross-border payments, which currently total over $780 billion per year and are directed to Brazil,  according to Garlinghouse.

We've always emphasized creating solutions that have real-world value. We're thrilled to work with a forward-thinking partner like Travelex Bank to facilitate faster and more secure money transfers in Brazil.


Travelex currency services partner with Ripple

The Cyprus Securities and Exchange Commission (CYSEC) has given digital banking firm Revolut permission to offer cryptocurrency services throughout the European Economic Area (EEA).

A fresh report claims that Revolut has been granted cryptocurrency-asset service provider (CASP) status by the island nation's governing body. The company has been on a hiring binge lately, despite the sluggish economy.

## Acceptance of crypto in Cyprus

The new license will allow the business to serve its 17 million European Economic Area customers from its newly established crypto center in Cyprus. After looking into various EU nations, Revolut ultimately decided on Cyprus as its base of operations.

[Famous exchanges including eToro](/news/article/etoro-fees), Crypto.Com, CMC Markets, and Bitpanda all call the country home. The app's representative said that the latest action was due to the sophisticated and tough regulatory regime of the CYSEC agency. He added also that "We heartily accept the European Parliament's clear goal to foster innovation while mandating robust customer protection safeguards to avoid any form of market abuse, and we applaud the new EU-wide law.

Revolut has obtained a license from the Central Bank of Spain and the Monetary Authority of Singapore, in addition to Cyprus (MAS). Over the next six months, the British fintech firm plans to increase the number of employees by 20% across the United Kingdom, the United States, and Europe. In previous Revolute news, the company has hired an additional 43 people so far this year. 

After over two years of debate, the Markets in Crypto Assets (MiCA) framework will be implemented by the end of 2023. It's a key component of the European Union's plan for the future of digital money.

To this end, MiCA seeks to establish a solid legal framework for the digital assets under its purview that have been excluded from the scope of existing financial services legislation in order to guarantee legal certainty.

It will aim to safeguard market players from the dangers connected with digital assets while also encouraging innovation and level playing fields. In addition, it will deal with threats to economic security.


Revolut News: Bank approved to offer crypto in EEA

The Singapore High Court has extended Zipmex's moratorium by three months after the exchange was hamstrung by its exposure to crypto firms Babel Finance and Celsius Network.

Zipmex (ZMT) was the latest victim of a crypto contagion spurred by the collapse of the TerraUSD stablecoin when it revealed in July that it has US$48 million (S$66 million) of exposure to Babel and US$5 million with Celsius.

On July 22, the business applied for a moratorium to prevent creditors from suing Zipmex Asia and other major operating subsidiaries. Zipmex Pte Ltd (the Singapore entity), Zipmex Company Limited (the Thai business), Zipmex Australia, and PT Zipmex Exchange Indonesia are all listed as applicants.

## Committee Given Extra 3 Months

[ZMT had asked for an additional five months](https://www.straitstimes.com/business/banking/singapore-court-grants-crypto-exchange-zipmex-3-month-creditor-protection) to pay off its debts, but on Monday, August 15, Justice Aedit Abdullah voiced worries about the company's lack of communication with its creditors and customers in Thailand. He gave the committee an extra three months, until December 2, to resolve the issues they brought up, with the possibility of further extension.

In the moratorium application hearing on August 1, Justice Abdullah praised Defi Payments for its efforts to involve its creditors.

ZMT has three different investment offers on the table right now. The business has agreed to terms with two investors and received a non-binding letter of offer from a third. Lawyer for ZMT, Jonathan Tang from Morgan Lewis Stamford, claimed that each investor plans to inject capital into the company by purchasing shares in ZMT Asia or by injecting crypto assets into the company in exchange for shares.

The withdrawal process on ZMT was paused in July, although customers have been able to withdraw some Ether and Bitcoin since August 11 and August 16, respectively.

There is a total debt of around $1.1 million represented by the objections. After stating on July 25 that it was collaborating with law enforcement to investigate potential public losses as a result of Zipmex's difficulties, Thailand's Securities and Exchange Commission has been closely monitoring the effects of the company's troubles on Thai consumers.

Several [other cryptocurrency firms have also sought bankruptcy protection](/news/article/crypto-lending-platform-voyager) in recent months. A moratorium has been placed on Defi Payments' application for a Singapore digital payment token license as the company attempts to restructure the US$402 million in debt it owes to around 147,000 creditors worldwide.
 



Zipmex Gets 3-Month Creditor Protection

What is Solana (SOL)? It is a protocol that enables the creation of blockchain applications with scalability. This means that developers can use it under their own brand to create applications. And due to its scalability, it can manage a large volume of transactions without any issues.

The Solana price is currently hovering around the 33.36 GBP level, this project is undergoing numerous exciting developments. SOL can be purchased at spot GBP price on any of the [major UK exchanges](/news/article/best-exchanges-for-crypto-uk).

This post will examine SOL in greater detail and explain whether you should consider investing in it!

## What is SOL?

It is a project that wants to [scale blockchain protocols](/news/article/solana-price-uk) so that they can handle real-world applications. The team behind Solana appears to have a lot of experience in both the traditional financial sector and technology.

So, SOL is a new cryptocurrency created to help make the technology more accessible and user-friendly. The Solana coin protocol allows developers to create and launch their blockchain-based applications on a white label basis. 

They can use SOL to power their applications without worrying about the underlying infrastructure. In addition, Solana can be used to pay for transaction fees and other costs associated with using the latest technology. 

## What are the use cases of SOL?

•	It can be used to produce and manage digital assets.

•	Developers can construct decentralized applications (dapps) using SOL.

•	On its platform, it can be used to pay for goods and services.

•	Participating in the platform's consensus mechanism enables users to earn interest in their SOL.

•	SOL can be traded for other cryptocurrencies or fiat money on exchanges.

In addition, SOL provides [many features and benefits](https://www.cryptonewsz.com/forecast/solana-price-prediction/) that make it an attractive option for developers looking to create and launch their decentralized applications.

## Bottom line

SOL is a scalable protocol that facilitates the creation of decentralized applications by programmers. The protocol employs a one-of-a-kind consensus mechanism to achieve high transaction throughput without compromising security.

Additionally, it features a native token, SOL, which can be used to pay network transaction fees. The protocol is open source and available for white label use by anyone.


The Solana blockchain & current price in GBP

Earlier today, Binance Labs, the startup capital and accelerator arm of BNB, made public its strategic investment in Ankr, the Web3 powerhouse known for its decentralized infrastructure.

Ankr's substantial open-source contributions to Binance's BNB Chain, BNB Liquid Staking, and general ecosystem support are primary drivers that attracted the investment from Binance Labs.

## What is Ankr?

In essence, Ankr facilitates the launch of blockchains for businesses, allowing them to provide superior Web3 experiences to their customers in record time. The protocol, scheduled for release in 2021, will eventually process 200 billion Remote Procedure Call (RPC) queries each month across 50 different blockchain networks.

[Specifically, Ankr's COO Ryan Fang said](https://en.cryptonomist.ch/2022/08/11/binance-labs-makes-strategic-investment-in-ankr/): The addition of Binance Labs as a strategic investor fills us with joy. With the most daily transactions and users, BNB is clearly the leader. 

Ankr serves over 7.2 billion daily blockchain requests on over 30 different blockchains, making it the second largest node provider (after Alchemy). 

The possibility is to further serve its customers, they plan to invest the funds towards expanding its market-leading RPC service and its portfolio of Web3 development tools, which currently includes the Liquid Staking Software Development Kit (SDK), the Web3 Gaming SDK, and the App Chains As A Service.

In addition, their Protocol processes over 7 billion blockchain requests every day across the 18 blockchains on which it provides RPC hosting. The fact that all [BNB initiatives](/news/article/binance-staking) and users stand to gain greatly from Ankr's improvements to the network is another reason for Binance Labs' endorsement of the project.

As previously mentioned, Ankr is responsible for most of BNB's foundational architecture, including the Erigon update, the Archive Node upgrade, and the most recent BNB Application Sidechain (BAS) scaling solution. 

Yi He, a co-founder and manager of Binance will be leading the incubator's venture capital (VC) division.

Yi He will be responsible for Binance Labs' general direction and day-to-day operations, with some of his time spent bolstering infrastructure initiatives and enhancing the practical applications of cutting-edge crypto and blockchain endeavors.


Ankr receives significant investment from Binance

Monero is a cryptocurrency that prioritizes user privacy and has one of the most dedicated communities in the cryptocurrency business.

However, investors in the UK frequently struggle to figure out how to exchange Monero (XMR) for British pounds. This article offers a solution to the problem by identifying exchanges from which users can withdraw their Monero holdings.

In other words, you will get the knowledge necessary to sell XMR for GBP or transfer Monero to a bank account in the shortest amount of time feasible.

## A quick ways to sell XMR on Binance in exchange for GBP

[Create an account on Binance](https://www.binance.com/en) and go through their full KYC verification process.

•	Navigate to Wallet > Spot and Fiat.

•	On the wallet, search for XMR and click the Deposit button.

•	Make a copy of the address that has been provided, and then send the funds from your personal Monero wallet.

•	Once the confirmation is complete, navigate to Trade > Convert.

•	When converting to BUSD, choose XMR as the currency (1 BUSD = $1).

•	You may finish the conversion by entering the amount you want to convert to BUSD.

•	Once this step is finished, repeat the previous steps to convert BUSD to GBP.

•	You should now navigate to Wallets > Fiat and Spot.

•	On your British pound wallet, select the Withdraw option.

•	You will be asked to enter the amount you wish to withdraw and your account or card information.

•	Start the withdrawal process, and Binance will move the money from the escrow account to your specified account. 

The preceding illustration presupposes that you already possess XMR stored in a personal wallet and just wish to pay it out
[Binance](/news/article/binance-bridge), which is one of the largest cryptocurrency exchanges in the world, allows users to trade Monero using a variety of different pairs.

Peer-to-peer (P2P) trading is an additional means for people living in the United Kingdom to cash out their Monero holdings on Binance. 

Verification is necessary to access any of the fiat gateways, and this includes P2P trading. How to go about it:

•	Initiate the Know Your Customer (KYC) procedure by registering for a Binance account.

•	Navigate to the Wallet > Fiat and Spot menu.

•	Navigate to your XMR wallet and select the deposit button.

•	Make a copy of the address that has been provided, and then finish the transaction using your external wallet.

•	Navigate to the Trade menu, select Convert, and change the XMR to USDT (You can also convert XMR to BTC) -Go to Trade>P2P.

•	Ensure that the currency is set to GBP, and then flip the Buy to Sell button offered. -When asked which coin you want to sell, select USDT (or BTC if you converted to it).

•	Choose a buyer with a high percentage of successful transactions and an offer corresponding to the price you wish to sell for.

•	To complete the transaction, go to the order, click the Sell button, and add a payment method to your account.

•	Begin placing the order and then wait for the vendor to transfer the payment to the GBP account you supplied.

•	Once you have the notification of the deposit from your bank, verify that you have received it. Finally, the following methods can be used to withdraw funds: bank transfers, credit cards, and debit cards.


How to  exchange Monero (XMR) to GBP in the UK

Ethereum merge news is having an impact on the price of digital assets linked to the blockchain.

ETH-based digital asset funds have seen positive inflows for seven straight weeks as institutional investors pile in, according to the latest CoinShares report. There were $16.3 million inflows last week, bringing total inflows to $159 million over seven weeks.

Market sentiment for Ethereum-focused products is primarily due to "greater clarity" regarding the upcoming merge. It is scheduled for September 19, according to CoinShares Head of Research James Butterfill on Monday. A shift from proof-of-work to proof-of-stake in Ethereum's algorithm is credited with the change in investor sentiment.

Finally, Ethereum 2.0 Beacon Chain will be added to the mainnet in the merge, concluding an important transition from PoW to PoS. When Ethereum switches to a PoS consensus mechanism, it should become more secure and use less energy, which will, of course, help make it less harmful to the environment.

The Goerli and Prater testnet merge is also scheduled for this week, and it will be the final dress rehearsal before the mainnet merge takes place in less than six weeks.

## Traders are getting ready for the next round of trading

[Cryptocurrency analysts Glassnode have predicted](https://cointelegraph.com/news/institutions-flocking-to-ethereum-for-7-straight-weeks-as-merge-nears-report) that the anticipated Ethereum merge news will lead to "buy the rumor and sell the news" among traders. For Ethereum, "derivatives traders are placing obvious bets on the upcoming merge."

An analytics firm's newsletter, Betting on the Merge, ETH options and futures are now in "backwardation". That is a situation in which the current price of an asset is higher than the prices trading in the futures market.

When it comes to the Ethereum merge news, futures and options markets are in a backwardation after September, which suggests that traders are anticipating an event like this and have positioned themselves accordingly, the newsletter said. Data from Ethereum options shows professional traders are ready to go long on ETH's Merge, which is relevant.

However, [the merge's impact on Ether's price](/news/article/ethereum-merge) is yet to be determined.

In a recent interview, Ethereum founder Vitalik Buterin said the "narrative" is likely to remain positive after the merge, which is "an aspect that hasn't yet been priced in."

He added, "I expect morale to soar once the merger is completed. In other words, I believe the merger will not be priced in, and by that, I mean not just in terms of market value, but also in terms of psychological impact and narrative arc. After the fact, I don't think it's going to be factored into the narrative at all."

CoinGecko reports the price of Ethereum is $1,776 at the time of writing, up 8.6% in the last seven days.



Ethereum Merge News Just Around the Corner

What are the trending crypto coins that investors should be watching this week?

The latest economic news from the US suggests cryptocurrency markets may have more room to rebound from the downturn earlier this year.

## Job Market

The US jobs report on August 5 exceeded market expectations, indicating inflation hasn't dropped. Strong figures diminished the chance that the Fed will delay rate hikes.

CME Group data shows a September rate hike of 75 basis points is now 68% likely. Fundstrat analysts disagree.

The S&P 500 bottomed six months before the Fed's last rate hike on three out of six occasions. In the year's second half, it's anticipated that the S&P 500 could surge to 4,800. If the correlation between equities and crypto markets holds, the crypto markets may have more room to rebound.

If Bitcoin (BTC) does go through the $25,000 mark, there is no substantial barrier until $26,000 to $28,000, according to Material Indicators. Could Bitcoin break through the resistance and drag altcoins higher?

## Trending Crypto Coins: BTC/USDT

Analysis shows that Bitcoin has been trading near the 20-day exponential moving average (EMA) of $22,719 for a few days, indicating a bull-bear struggle. The bulls have held the level, but haven't rebounded strongly. This signals lower demand.

The fact that both moving averages have flattened and the RSI is just over the middle indicates that buyers and sellers are balanced. Buyers could gain if they push the price above $24,668. If they do, BTC/USDT might climb to $28,000 and perhaps $32,000. If bears do pull the price below the 20-day EMA, the pair might fall to a 50-day SMA of $21,719.

If this support breaks, the uptrend line may be next. The last four-hour chart showed $22,400 to $23,648. Again, both of the moving averages have flattened, and the RSI is midway, indicating a supply-and-demand balance.

If bulls push the price above $23,648, the pair might reach $24,668. Bears will have a short-term advantage if the price falls below $22,400. The pair could fall to the uptrend line of solid support.

## Trending Crypto Coins: FLOW/USDT

Flow (FLOW) broke out of a tight trading range on August 4. This signals accumulation and a fresh uptrend. Bears are trying to arrest the uptrend near $3, but bulls haven't lost much ground. Traders aren't booking profits after the recent rally. This means that bulls have the upper hand as the 20-day EMA of $2.07 has risen, and the RSI is nearly overbought.

[FLOW/USDT might surge to $4.60](https://cointelegraph.com/news/top-5-cryptocurrencies-to-watch-this-week-btc-flow-theta-qnt-mkr) if investors push the price above $3.00 to $3.30. The pair has turned down $3.00, but is finding support at the four-hour 20-EMA.

Bulls could retest $2.99 if the price rises above $2.80. The rise could resume if this level is broken. If the value goes below the 20-EMA, this pair might fall to the 50% Fibonacci retracement level of $2.41 and then to $2.27. A break below this level could favour bears and send the pair under $2.00.

## Trending Crypto Coins: THETA/USDT

Theta Network (THETA) broke and closed above $1.55 on August 5, signalling a bullish range resolution. On August 6, bears sought to lower the price below the breakout mark, but bulls resisted. The 20-day EMA of $1.39 is rising, and the RSI is bullish, favouring buyers.

If bulls keep THETA/USDT over $1.65, a new rally toward $2.10 could begin. If bulls overcome this resistance, the pair might climb to $2.60. Bears must pull prices below $1.55 to invalidate this bullish perspective.

If so, aggressive bulls may get trapped, and the pair may decline to moving averages. The four-hour chart indicates that bulls bought the decline to the 20-EMA. Both four-hour moving averages are rising, and the RSI is near overbought, indicating bullish momentum.

If bulls retain $1.65, the uptrend may restart. A closure below the 20-EMA will signal weakness. If so, the duo might hit the 50-SMA. Bears must push prices below this level to end the rally.

## Trending Crypto Coins: QNT/USDT

Quant (QNT) rallied from its June 13 low of $40. It seems that bulls have aggressively bought the dip below the 20-day EMA of $103 on July 26. Bulls drove the price above $115 on August 6. The rise resumed.

The QNT/USDT pair could rally to $154 to $162, where bears may defend. [Bulls will try to turn $115 into support if the price drops](/news/article/crypto-fear-and-greed-index). If so, the pair's upswing might resume. Bears must push prices below the 20-day EMA to win.

The pair is on an uptrend, but the four-hour RSI is overbought, suggesting a near-term pullback. Bulls should purchase declines to 20-EMA. If they do, it will show that traders are buying on dips. That increases the likelihood of an uptrend.

If the price drops below the 20-EMA, the pair might fall below the 50-SMA. A break below this level could send prices to $100.


Trending Crypto Coins to Watch: BTC, FLOW, THETA & QNT

Crypto Banter is an interactive social cast for the cryptocurrency community that features live discussions around the globe. Cryptocurrency enthusiasts can tune in to learn about the latest relevant news, exchanges, and technology.

The show is curated by industry experts and features a diverse lineup of guests. This article will explore the roles played by Neuner, Miles Deutscher, and more in the cryptocurrency media. We'll also look at how to join the discussion!

## Pre-market allocations for crypto banter

The team behind [Crypto Banter](https://www.cryptobanter.com/) has been putting $10,000 into a public Ethereum address and investing daily into profitable allocations. The team has diversified the portfolio with Shopx, Refineable, Occam, and Aioz. The value of their pre-market allocations has already grown by a factor of a hundred. The teams analysts are not only investing their own money but those of their subscribers as well.

## Neuner's involvement in cryptocurrency media

Ran Neuner is a prominent figure in the cryptocurrency industry. He is the host of the CNBC Cryptocurrency Trader show and has created several blockchain projects, including being involved with the [social trading platform eToro](/news/article/etoro-fees). His recent involvement with blockchain technology has also been a topic of speculation, with many speculators questioning his role in the industry. In a recent interview with CNBC, Neuner said he was a "bit worried" about a "rumor" floating around that he had been a co-founder of the company.

In addition to creating Crypto Banter, Neuner had plans to launch a streaming platform dedicated to cryptocurrency and blockchain technology. The content will be available to cryptocurrency enthusiasts all day and night, and viewers can participate in ongoing discussions and follow the latest developments in the cryptocurrency space.

This is an unprecedented opportunity for a prominent journalists to access the market. While the media is tolerant of Neuner's role in cryptocurrency since he is an industry expert with a plethora of experience in the digital market.

## Miles Deutscher's involvement in cryptocurrency media

Miles Deutscher, a cryptocurrency investor and analyst is making waves in the cryptocurrency media industry. He has traveled to Miami and Cape Town to interview prominent personalities, including Michael Saylor and Aaron Rodgers.

Recently, he hosted a documentary at the Bitcoin 2022 conference. As a young Australian, Miles is determined to bring [BTC](/coins/btc) education to the masses.

## Bottom line

The rise of crypto banter has been a boom for the industry, with many experts and enthusiasts tuning in to learn about the latest news and technology. Neuner and Deutscher have played a significant role in bringing blockchain to the forefront of media, and their continued involvement is sure to bring even more attention to the space.



The rise of Crypto Banter

Institutional investors will now be able to manage and trade Bitcoin through Coinbase Global Inc.'s partnership with BlackRock Inc., bringing the world's largest asset manager into an industry ravaged by dropping prices and regulatory investigations.

In New York City, Coinbase jumped 15% to $92.61 at 1:20 pm. For the largest US crypto-trading platform, whose shares had lost more than two-thirds of their value this year by Wednesday, the deal with BlackRock brings some comfort.

According to a statement released Thursday, BlackRock's Aladdin investment-management system would be able to monitor its clients' exposure to Bitcoin and other portfolio assets like equities and bonds and assist financing and trading on the Coinbase exchange. In the beginning, "Bitcoin will be the emphasis" of the partnership with Coinbase, the largest US cryptocurrency trading platform, BlackRock said.

## Why BlackRock chose Coinbase as their crypto partner

Even after this year's crisis in crypto assets, BlackRock's action extends Wall Street's traditional financial players' involvement in crypto and associated technology. As a result of the [collapse of the Terra ecosystem](/news/article/terra-luna-collapse) and hedge fund Three Arrows Capital, questions have arisen regarding the stability of the market and heightened regulatory monitoring.

It is being investigated by the US Securities and Exchange Commission (SEC) if Coinbase allowed Americans to exchange digital assets that should have been classified as securities.

Because of Coinbase's size and prominence in the market, as well as its involvement in trading, custody, prime brokerage, and reporting, BlackRock decided to work with them. Both companies' customers will be able to use the services.

According to an analyst at Oppenheimer & Co. who has the equivalent of a "buy" rating on Coinbase shares, the regulatory risks from the cooperation are manageable because it starts with Bitcoin rather than other digital assets.

Lau said in a phone interview that the alliance "validates the future of blockchain and digital assets and also validates Coinbase's credibility." "It's a huge win for the industry and Coinbase," says a spokesperson.

According to an analyst at [Oppenheimer & Co](https://www.bloomberg.com/news/articles/2022-08-04/blackrock-teams-up-with-coinbase-in-crypto-market-expansion). who has the equivalent of a "buy" rating on Coinbase shares, the regulatory risks from the cooperation are manageable because it starts with Bitcoin rather than other digital assets. This news makes sophisticated investors more comfortable with the crypto market.

Coinbase reported that institutional investors made up nearly three-quarters of the first quarter's $309 billion in trading volume. There are hedge funds, corporate treasuries, and asset managers on Coinbase's client list.

The agreement is the next logical step in BlackRock's plan to increase its digital asset holdings. Stablecoins and digital assets are becoming increasingly important, according to CEO Larry Fink, who stated this in March.



Coinbase and BlackRock crypto have teamed up

An upcoming blockchain technology project, [Block Busters](https://bbtftoken.com/), has been making rounds lately. Reportedly, the company is about to launch its token on 05 August 2022. A few Safemoon investors started the project to help firms transition from web 2.0 to web 3.0. The project is a liquidity injection protocol that allows businesses through tokenization. 

For the last eight days, the project has been trending on Twitter with #BlockBustersTech and is making waves in the DeFi space. The unique thing about its hype is that the project did not have a prior reputation. However, it recently carried out a successful presale for the BBTF token and is now looking forward to the ‘big launch. 

## How does the Block Busters protocol function?

Block Busters claim to have a complex and innovative protocol functioning that makes [web 3.0](/articles/learn-moni/web-3.0-crypto) transitioning relatively straightforward. Its methodology applies a 16% tax on all transactions within the system. A part of this tax is used for different purposes like rewards, reflections, and automated liquidity. 

This DeFi infrastructure is completely tokenized, which makes smart contracts more innovative. Besides, its reward mechanism includes both internal and compounded rewards. For this reason, there are a total of 8 different reflected tokens in the system. That’s why as a BBTF token holder, you have an excellent opportunity to make a passive income.

![block busters tech.png](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/block_busters_tech_2c8e33ff8a.png)
 
Source: (BBFT, 2022)

## Will Block Busters live up to its hype?

Block Busters’ protocol looks quite promising as it provides excellent incentives while maintaining the security of smart contracts. Moreover, the project has a team of over ten people, which adds to its credibility. On the other hand, they are also working on several innovations in the ecosystem. In the future, we might see innovations like a transaction viewing platform, smart contract development, DEX platform, and other NFT and Metaverse utilities. 

Though there is great potential, projects running on incentives are always risky. Recently, as such projects are crashing like the house of cards, it is better to conduct proper research by thoroughly reading its whitepaper and information on the website.






Block Busters Tech: Is it worth the hype?

CBDCs have been a hot topic for the last few years, but are they ready to disrupt the UK financial system? While the answer will vary greatly, many believe that CBDCs have the potential to replace high street bank deposits in the long run.

This article discusses the potential benefits of CBDCs as a means of payment and the security concerns it raises. This article also explores the risks associated with CBDCs, including their potential to replace traditional bank deposits.

## Blockchain technology

The [Bank of England](https://www.bankofengland.co.uk/news/2021/april/bank-of-england-statement-on-central-bank-digital-currency) recently released a discussion paper that explains how the proposed CBDC will work. A digital wallet would be available on mobile devices and be accessible for checking balances and receiving government-issued funds.

CBDC transactions would be free of fees and allow citizens to send and receive payments instantly. CBDC would function much like traditional bank accounts, but with a few important differences. With blockchain technology, transactions are almost instantaneous, so citizens would not need to worry about bank accounts or credit cards to use CBDC.

The UK Central bank has [expressed interest in using blockchain technology](/news/article/cbdc-bank-of-england) to create a digital pound, a cryptocurrency that would replace banknotes in the UK. This project could also replace the declining use of banknotes in the UK, which are rapidly being replaced by mobile and online payments. The Bank of England's Discussion Paper on CBDCs and stablecoins has been released several times, and the latest draft of the document suggests further innovation in payment infrastructure.

The key benefits of using a Blockchain-based CBDC include low-cost, fast, and safe payments. CBDC should support domestic and cross-border transactions, allowing for low-cost payments in the UK and abroad. It should also enable dual offline transactions and instant payments. Ultimately, the project's benefits must be clear and measurable. It is also important to remember that the project must be scaleable and cost-effective.

There are still several issues to be considered when developing a CBDC based on blockchain. The biggest challenge is scalability, which is one of the primary concerns of blockchain. Although there are many solutions, there is no "perfect" solution. A CBDC with good scalability will benefit the entire economy and the UK banking industry. With this, the currency can be widely accessible and inclusive. It can help the financial sector to compete in the global economy.

The central bank's digital currency could disrupt the banking system in the UK. While the level of disruption depends on how well CBDC works, it could also replace traditional intermediaries such as bank deposits and high street bank accounts.

However, there are no guarantees that the project will work as intended. It will still require government approval and further development before making a final decision. And for the time being, there is no clear answer. A formal consultation will start in 2022 and form the "research and exploration" phase that will lead to plans and regulations over the coming years.

## Regulatory issues

The regulatory issue with using CBDCs in the UK is a thorny one. While it's still an unproven technology, central European banks have already expressed an interest in using this digital asset. They have discussed its benefits, challenges, and legal requirements. Most recently, the Bank of England and the U.K.

Treasury announced they would conduct a joint consultation on CBDCs by the decade's end. While there may be some advantages to CBDC use, the report noted significant privacy and financial stability challenges.

The ECB has also been fairly public in its support of CBDC use. The ECB has advocated for using a digital euro in Europe and argued that it would underpin innovation, deliver strategic autonomy, and ensure the security of payment systems across the EU. Fabio Panetta, a member of the ECB's executive board, argued in favor of CBDC use and drew an analogy between cash and the rise of the internet.

The UK Central Bank's proposed CBDC is a unique solution to the challenges of a digital payment system. It would preserve the coexistence of private and sovereign money, increase efficiency and security in payment markets, and enhance confidentiality.

In addition, this digital asset could potentially be a gateway from big tech companies, which are increasingly offering financial services. The rapidly developing artificial intelligence sector has compounded privacy issues. Moreover, regulation is still too slow to keep pace with technological advancement.

Despite its structural similarities to traditional currencies, CBDCs have generally been considered safe cryptos. China's digital Yuan, which will be used in the 2022-Winter Olympics, is currently the most developed.

However, early adopters of CBDCs often adopt strict stances and even ban decentralized crypto currencies. This is especially true in the UK, where the UK FCA has updated its prohibition on the marketing, distribution, and sale of crypto-asset exchange-traded notes to retail investors.

## Security concerns

The UK Central bank has recently announced plans to launch a digital currency, dubbed CBDC, in the UK. The digital currency has a wide variety of implementation and design options, but one of the most pressing concerns is security.

If security is not a top priority, the CBDC program, the central bank's reputation, and the wider opinion of the new currency could suffer. Therefore, the CBDC program must consider various potential threats, including cybersecurity.

While it is true that privacy is essential to cryptocurrency, it is also important to understand the risks of using the system. Many people want privacy, while authorities may want to ensure their money does not fall into the wrong hands.

In general, however, most currency variants will only provide one or the other of these requirements. For instance, a database containing account balances and a ledger containing plaintext transactions are easy to regulate and offer little privacy.

A significant challenge to CBDC is that it could become a gold mine for hackers. Even if there's a limited market for CBDC, sophisticated hackers and nation-states could steal it. Moreover, inside employees, it could be misused or infiltrated, resulting in small-scale identity theft. Another concern involves the use of "gray" charges via opaque fees. There are already many risks in the current system, but CBDC might alleviate some of them.

In addition to the concerns mentioned above, there are other problems related to this digital currency. Several third-party threat actors can undermine CBDC, including scammers, application developers, and hardware manufacturers.

These third-party actors are more powerful than typical end users and can attack it at different layers. These malicious applications or hardware wallets can be backdoored, leading to unauthorized spending of funds.

Whether CBDC will be safe or vulnerable is a question for policymakers. The system is vulnerable to hacking, data theft, and account breaches. As with any new technology, the UK Central bank digital currency should invest in a robust cybersecurity strategy. This should begin with considering how to secure the data and privacy of users. The World Economic Forum has recently published a white paper on CBDC technology considerations.

## Potential to replace bank deposits

The Bank of England and HM Treasury are considering creating a central-bank digital currency (CBDC). Such a currency would replace cash and bank deposits but would be issued by the central bank. While CBDCs may replace cash, they may not satisfy the need for a hard copy. The Bank of England believes CBDCs would have a place alongside cash in everyday life.

One way CBDCs could replace bank deposits is by allowing non-bank financial intermediaries to build programs that sweep the digital currency into higher-yielding liabilities. These liabilities are most likely money market accounts.

A customer would buy money market shares in exchange for CBDC. Then the customer would purchase these money market shares with the CBDC and transfer them to a money market fund. The money market fund would use the CBDC to purchase assets with a higher yield, and the maturity transformation would transfer from the banking system to the shadow banking system.

The Bank of England does not provide accounts directly to the public. If this were to change, the CBDC would be accessible to the public directly. This would entail seismic changes in the banking system. However, the U.K. Treasury envisions a CBDC as a parallel offering to current cash and bank deposits. Whether the UK moves to the development stage depends on the consultation outcome.

A central bank's digital currency could have numerous benefits, but it may pose several risks, including privacy and financial stability. It would act as electronic money that could be used for everyday payments, just like cash. While it isn't a final decision, the central bank and the government are considering the issue.

CBDCs may be a necessary step in the digital currency world, but a decision has not yet been made. However, discussing its implementation is an important step toward a unified monetary system.

Several countries are experimenting with CBDCs. Some are researching, testing, and distributing them to the public. In the Bahamas, the Sand Dollar is one local CBDC. It has been in circulation for more than a year.

Sweden's Riksbank is currently working on a proof-of-concept and exploring potential policy implications. In China, the digital renminbi (eCNY) currency is making progress, with more than 100 million users and billions of Yuan transacting.


CBDCs and the UK Central Bank Digital Currency

Israeli authorities implemented further restrictions on cash payments to combat illegal activity and promote the use of [digital payment methods](/news/article/mastercard-crypto-asia).

Due to the Law for the Reduction in the Use of Cash, which came into effect in January 2019, businesses and consumers in Israel are no longer allowed to make payments in cash.

People and businesses are encouraged to use digital payments, making it easier for the government to track illegal activity, tax evasion, and money laundering in the country's black market and elsewhere.

According to the Israeli Central Bank, 6,000 New Israeli Shekels (NIS) for business transactions and 15,000 New Israeli Shekels (NIS) for personal transactions will be the [new limit for cash payments](https://cointelegraph.com/news/israel-puts-the-brakes-on-cash-to-spur-digital-payments) effective August 1, 2022. Additional restrictions, such as a ban on storing more than NIS 200,000 shekels ($58,660) in cash in private residences, are expected shortly.

According to Tamar Bracha, the Israel Tax Authority's (ITA's) head of law enforcement, limiting the availability of cash will make criminal activity more difficult. As a result, "the goal is to reduce market cash fluidity, particularly because criminal organizations tend to rely on cash."

Some have interpreted it as a positive sign of the country's new limits on hard-cash transactions. According to Lark Davis, a crypto influencer with over a million followers on Twitter, Israel is neither the first nor the last country to impose such restrictions. According to the founder of Lyn Alden Investment Strategy, the trend "will probably continue to other countries in the future."

## Cryptocurrency regulation and CBDCs

Central bank digital currencies (CDBCs) are also being explored in the region, with the country first considering a CBDC at the end of 2017. After conducting a public consultation in May, the Bank of Israel released the results of the responses, which indicated strong support for further research into CBDCs and how they would affect the payments market, financial and monetary stability, and legal and technological issues.

In June, the Bank of Israel revealed that it had conducted its first technological experiment with a CBDC, examining user privacy and the use of smart contracts in payments. In addition, a framework for regulating digital assets is being developed in the country.

According to Oz Finance's Jonathan Shek at this year's Israel Crypto Conference in May, Israel's financial regulators have prepared a comprehensive and holistic regulatory framework for digital assets.

Shek hinted that it would happen soon, but he didn't give a specific date, saying that the Israeli government wanted to encourage the development of the crypto industry in their country if it was done responsibly.


Israel halts cash to encourage digital payments

There's a new Metaverse cryptocurrency on the block, and it's called Shibaverse Coin! This innovative new currency is bringing a whole new level of security and privacy to the world of digital currencies.

Unlike Bitcoin and other popular cryptocurrencies, VERSE is based on a completely new algorithm that makes it more secure and anonymous than anything else out there for the Metaverse community. If you're interested in getting in on the action, read on to learn more about this exciting new crypto currency!

## What is Shibaverse, and how does it work?

Shibaverse Coin is a digital currency that is based on the Litecoin blockchain. It is an open-source project that was created to provide a more user-friendly and accessible way to use cryptocurrency.

The coin has a unique, Shiba-themed design and is intended to be used as a tipping currency on social media platforms. Unlike other digital currencies, VERSE can be easily mined on any computer without needing specialized equipment.

The coin also has a high level of security due to the use of the Litecoin blockchain. Transactions are faster and more secure than traditional banking methods, making [Shibaverse Coin](https://coindecimal.com/shibaverse-coin/) an attractive option for those looking for an alternative to traditional currency.

## What makes Shibaverse unique compared to other cryptocurrencies?

VERSE is a unique cryptocurrency that offers a variety of benefits compared to other coins. For one, it is faster and more efficient than many other cryptocurrencies. It also has a lower transaction fee, making it more affordable.

In addition, VERSE is more secure than other coins, with an advanced encryption system that helps to protect users' personal information.

Overall, VERSE provides a superior experience to other cryptocurrencies, making it the best choice for those looking for an easy and efficient way to transact.

## How can investors get involved in Shibaverse, and what risks are involved?

Shibaverse is a new cryptocurrency that offers investors a way to get involved in the "Shiba Inu economy." The coin is named after the popular dog breed and features a Shiba Inu character on its logo.

Investors can buy it through exchanges such as Binance and Kucoin. The risks involved in investing in VERSE include the volatility of the cryptocurrency market, as well as the possibility that the project may never launch.

However, some investors believe that the potential rewards of investing in VERSE outweigh the risks. The team behind it has plans to use the funds raised through the sale of the coin to build a decentralized exchange and launch a social media platform. If successful, these projects could help to increase their value of it.

## What impact could Shibaverse have on the cryptocurrency market as a whole?

Shibaverse is a new Metaverse cryptocurrency gaining popularity due to its unique features. Unlike other cryptocurrencies, VERSE uses a new data structure called a Directed Acyclic Graph (DAG).

This allows for faster transaction times and lowers fees. In addition, it is backed by a company called Shiba Inu Ltd, which gives it more stability than many other cryptocurrencies. As more people become aware of it and its advantages, its popularity will likely continue to grow.

This could have a major impact on the cryptocurrency market as a whole, as more investors seek alternative coins with different features. Only time will tell what the ultimate impact is, but it is clear that it has the potential to shake up the status quo.

 For more developments on the crypto news go to [Latest Moni](/news).


Shibaverse coin- cryptocurrency for the metaverse

The cryptocurrency trading platform FTX, which was co-founded by the billionaire Sam Bankman-Fried, is reportedly in advanced talks to buy the South Korean company Bithumb, according to a person familiar with the subject.

According to the individual, who asked not to be named since they were talking about something sensitive, the companies have been in conversations for several months now. A spokeswoman for Bithumb has stated that they are unable to confirm anything at this time.

The FTX spokeswoman that we reached out to declined to respond. [According to a person who spoke](https://www.bloomberg.com/news/articles/2022-07-22/bankman-fried-s-ftx-said-in-talks-to-buy-south-korea-s-bithumb) on the condition of anonymity to Bloomberg, the two exchanges have been negotiating the arrangement for a number of months now.

As of the time this article was being published, neither Bithumb nor FTX had responded to Forkast's request for comment on the topic. Sam Bankman-Fried, the co-founder and chief executive of FTX, has provided assistance to businesses like BlockFi and Voyager Digital when those companies have experienced a liquidity problem.

Bithumb is one of only five cryptocurrency exchanges in South Korea that have been granted permission to provide cash-to-cryptocurrency conversion services.

In South Korea, Bithumb was responsible for 17.1 percent of the entire cryptocurrency trade volume in 2017, second only to the Upbit exchange in that regard. By providing financial support to struggling businesses or acquiring them outright, Bankman-Fried intends to capitalize on the current downturn in the cryptocurrency industry.

This week, persons with knowledge of the situation stated that FTX and its American company FTX US are in talks to acquire fresh financing. If successful, this would put Bankman-Fried in a position to continue his deal-making frenzy, which has seen him commit almost one billion dollars so far.

According to the data provider CoinGecko, the cryptocurrency trading platform Bithumb, which was established in 2014, presently handles an average daily volume of trades worth approximately $569 million.

It was one of the crypto exchanges in South Korea whose premises were raided this week by local prosecutors as part of an expanding probe into Terraform Labs following the failure of the TerraUSD stablecoin in May. The investigation comes as a result of the collapse of the TerraUSD stablecoin. 

For more developments on the crypto news go to [Latest Moni](/news).


Latest Moni