[Moon Mortgage](https://www.moonmortgage.io/), a crypto lending firm, has concluded its seed funding round. At the end of the round, the platform secured around $3.5 million. The funds will go towards developing its financial product offering in the real estate space.

It will allow investors to get financing for real estate while putting their virtual assets as collateral. Also, the investors can get loans against the cumulative values of their assets.

The lending firm is based in the [United States](/news/tag/usa). It helps investors collateralise their cryptocurrency holdings to get loans for real estate investment. Its products will be launched with the first phase tranched in Texas, Colorado, and Florida. After that, the firm aims to expand its operations throughout the US. 

## CEO’s thoughts on the Moon Mortgage milestone

The CEO and co-founder of the [crypto lending](/news/article/crypto-lending) firm, Aaron Nevin, believe there are no solutions in the market for using cryptocurrency holdings to invest in real estate. Nevin said that investors needed to liquidate their funds and “lose their upside and get hit with a massive tax bill.”

He further said that his firm aims to bridge the gap “[between] cryptocurrency and TradFi to make it easy for them to leverage their digital assets.” He explained that this would not only allow them to materialise their holdings but also enable them to continue making gains through it. 

## About Moon Mortgage

It is a US company that provides services related to [cryptocurrencies](/coins). The Moon crypto mortgage allows you to buy a real-world asset without liquidating your virtual funds. Though it does not work as a traditional bank, a US chartered bank, Anchorage Digital, provides these services. 

The platform raised around $3.5 million in its seeding round, which will be used for its lease services. Cadenza Ventures and CoinFund led this funding round. 


Crypto lending firm Moon Mortgage secures $3.5m

[Celsius network](https://celsius.network/) was recently accused of withdrawing large sums of money before the bankruptcy filing. There is a development in the Celsius data breach, as the document containing its client information has been publicised. It confirms that the company’s executives cashed out around $17 million just before [filing for bankruptcy](/news/article/celsius-bankruptcy-protection). 

The [document](https://drive.google.com/drive/folders/1M2QNrghkgBg3T2ZkRVVD47QpjgR8r6HB) on the internet contains information about the crypto lender’s clients. There are details about the names, emails, and crypto assets that the clients own. Through this, anyone can verify how many assets their customers have with them.

## Crypto lender withdrew $17m before bankruptcy

The executive body of the [crypto asset](/news/article/celsius-crypto-news) lending company withdrew large sums before filing bankruptcy protection. Among them, former CSO Daniel Leon and former CEO Alex Mashinsky are the top names. They allegedly cashed out BTC, ETH, CEL, and USDC tokens from their accounts. 

This was before the company announced bankruptcy and suspended its customers’ withdrawal. Other than that, the document does not show other notable withdrawals. 

## Customer.io accused of Celsius data breach

Earlier, the crypto lending firm admitted to the [Celsius](/news/article/celsius-network) data breach. The bankrupt firm warned its clients that the breach occurred through a third-party platform. Allegedly, an individual from the email delivery service provider, [Customer.io](https://customer.io/), was responsible for the violation. However, initially, the company downplayed the risks of the breach and later warned its customers through email. 

In [response](https://customer.io/blog/update-to-compromised-email-addresses-incident/) to the incident, the third-party platform blamed an engineer in management who had authorised access. He compromised the client details by providing them to cybercriminals. 

The firm further maintained that it was an individual’s actions and that the firm itself is not responsible. Meanwhile, the same platform was also behind the compromised emails of the NFT marketplace, [OpenSea](https://opensea.io/).



Celsius data breach reveals exec’s withdrawing $17m

The number of crypto trading platforms is ever-growing as the market continues to expand. But, often, it gets confusing to choose which one is right for you, especially if you are a beginner. So, to assist you in that, we are doing a [Coinmama](https://go.coinmama.com/visit/?bta=67954&nci=5360&afp=article) review, which is an excellent option for crypto newbies. 

Coinmama is a Dublin-based cryptocurrency exchange operating in the industry for almost a decade. It was set up in 2013 to offer financial services in the simplest ways. 

Its mission is to be the world's friendliest exchange that offers the best customer support. 

## Benefits of using the platform

In this [Coinmama review](https://go.coinmama.com/visit/?bta=67954&nci=5360&afp=article), we look at the platform's best features that make it a good choice for traders. 

1. Single window trading
One of the factors that makes it an ideal choice is that it does not complicate things for the traders. Unlike many other brokerages, it does not allow trades between buyers and sellers, which can confuse a novice trader. So instead, on this platform, all the transactions are between you and the exchange.

The platform has an inventory of all the cryptocurrencies it offers. However, it does not provide a digital asset wallet. So, if you purchase crypto from this exchange, you must have a separate wallet like [MetaMask](/news/article/what-is-metamask).

2. Interactive interface
The [Coinmama app](https://go.coinmama.com/visit/?bta=67954&nci=5360&afp=article) features an easy-to-use and highly interactive platform, which allows you to manage your crypto trades from your phone. With this seamless app, you can quickly get started with crypto trading. All you need to do is install and sign up with the app, instantly verify your ID, and you will be all set to trade!

Besides, you can access it from almost anywhere worldwide as it is available in 188 countries. However, it only supports Android, so if you are an iOS user, you won't be able to access it. 

[![coinmama 1.png](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/coinmama_1_2222cba695.png)](https://go.coinmama.com/visit/?bta=67954&nci=5360&afp=article)
  
3. Swift verification process
The time-consuming verification procedure is a problem for many exchanges. Fortunately, this is not the case with Coinmama. This platform offers an instant verification process. You can swiftly sign up and start selling or purchasing crypto. The entire procedure takes only 15 to 30 minutes. 

[![coinmama 2.png](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/coinmama_2_55402f2107.png)](https://go.coinmama.com/visit/?bta=67954&nci=5360&afp=article)
  
4. Coinmama payment methods
The Coinmama review also shows that it offers various payment methods. One of the best things about it is that you can make crypto deals from your credit or debit cards. It supports the following payment methods:

·        Apple Pay

·        Google Pay

·        Visa

·        [Mastercard](/news/article/mastercard-crypto-asia)

·        Skrill

·        SEPA and SWIFT Bank transfers

5. Security and authorisation
The exchange is based in Ireland and authorised by the country's regulatory body. It also ensures the complete safety of your crypto funds. It maintains two procedures to ensure security. It does not save user data when transactions are made through credit or debit cards. Secondly, it has a 2FA (two-factor authentication) procedure for logins. This restricts unauthorised entities from accessing your account.

What is noteworthy, it only operates as an exchange. So it does not keep your funds. It only requires your crypto wallet address when you are buying cryptocurrencies. That's why your crypto's security depends on your third-party wallet.

Check out which is the [best wallet to store crypto](/news/article/best-crypto-wallet). 

6. Supported cryptos and fiat currencies
As of now, this cryptocurrency exchange gives you access to over 15 different tokens. These include most of all popular tokens in the market. You will find Bitcoin, Ethereum, wrapped Bitcoin, Bitcoin Cash, Dogecoin, and others. Though it supports limited options, its inventory may expand in the future. And you can also request a particular cryptocurrency from its customer support. 

![coinmama 3.png](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/coinmama_3_85721f4634.png)
 
On the other hand, the fiat currencies it supports for transactions are five. These include the US dollar (USD), British Pound (GBP), Canadian dollar (CAD), Australian dollar (AUD), and Euro (EUR). You can also find crypto to fiat or fiat to crypto conversions through the [Coinmama crypto calculator](https://www.coinmama.com/crypto-calculator). 

[![coinmama 4.png](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/coinmama_4_9b26b70d90.png)](https://www.coinmama.com/crypto-calculator)

## Trading fees

The trading fees of the Coinmama exchange are on the higher side. It charges commissions on each sale and purchase transaction. In comparison to most exchanges, the trading fees are much higher. On selling transactions, the platform's commission will be 0.9%. Meanwhile, you will also have to pay 3.81% if you purchase from the platform.

However, it offers discounts through its [loyalty program](https://support.coinmama.com/hc/en-us/articles/360012588820?_ga=2.27021630.209146710.1664231336-1389372584.1664231336). It has three levels that require different amounts to be spent for 90 days. At the curious level, you would not get any discounts. But at the Enthusiast and Believer levels, you will get a waiver of 12.5% and 25%, respectively.

![coinmama 5.png](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/coinmama_5_e905027150.png)

## Coinmama registration: How do I get started?

The Coinmama registration is a reasonably straightforward procedure. You can quickly get a verified account on the platform by following these four easy steps:

1. Firstly, go to [coinmama.com](https://go.coinmama.com/visit/?bta=67954&nci=5360&afp=article) and set up your account. You can also create an account through the app. It only requires your email, a strong password, and the country of your residence.

[![coinmama 6.png](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/coinmama_6_e876cb13de.png)](https://go.coinmama.com/visit/?bta=67954&nci=5360&afp=article)

2. Secondly, you must provide personal details like full name, phone number, date of birth, city name, etc.

[![coinmama 7.png](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/coinmama_7_9aba169fce.png)](https://go.coinmama.com/visit/?bta=67954&nci=5360&afp=article)
 
3. Next up, upload a document that confirms your government-issued ID. This can be your ID card, driving licence, residence permit, or passport. US citizens can also use their non-driver's ID. Take the front and back pictures of the card and upload them. 

[![coinmama 8.png](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/coinmama_8_814e6b6c25.png)](https://go.coinmama.com/visit/?bta=67954&nci=5360&afp=article)

4. Finally, take a piece of paper and write 'Coinmama' and the registration date. Then, holding the piece of paper and your ID document, take a picture of yourself and upload it. 

Once you've completed these steps, the website will send an application to the exchange team. Your application will be approved after they verify your details.  

[![coinmama9.png](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/coinmama9_b32b539dcf.png)](https://go.coinmama.com/visit/?bta=67954&nci=5360&afp=article)
 
## Coinmama Review: Final take

Coinmama is a basic, user-friendly platform ideal for novice crypto investors. It allows secure and swift crypto trading to help manage day-to-day trades while being a relatively expensive option. You can also find various alternatives that offer more options at low prices.

Though Coinmama does not support a wide range of cryptocurrencies and fiat currencies, it gives most of the popular options. All in all, it is a good option if you are looking to manage small portfolios.



Coinmama Review: The beginner-friendly platform

Web3 games and Metaverse projects have taken the industry by storm. Some of the games driving the rise of blockchain gaming include Axie Infinity, Splinterlands, Alien Worlds, Crazy Defense Heroes, Sky Mavis, and The Sandbox. Not only have these games enabled players all over the world to make money, but they have also introduced innovative mechanics and partnerships.
 
Similarly, Metaverse projects have piqued people's interest by introducing ingenious ways for users to interact with one another in 3D space.

As per a report released by the data acquisition and analysis company DappRadar, Web3-based games and Metaverse projects have raised $748 million since August 1, 2022. 

Axie Infinity, one of the most popular games in the field, has surpassed $4 billion in all-time NFT sales, with approximately 36,000 new daily players joining in the last three months.

Despite the ongoing market downturn, blockchain-based games continue to garner attention. According to DappRadar, companies in that field and Metaverse projects have raised approximately $748 million since the beginning of August. This is a 135% increase over July but a 16% decrease from June's figures.

Gabriel Leydon, the founder of Machine Zone, made one of the largest investments of $200 million in Web3 games.
Temasek, a Singaporean investment firm, led the latest $100 million funding round for Animoca Brands to increase the company's exposure in the sector. 

Xterio, a cross-platform publisher and developer of high-quality mobile and web3 games secured a $40 million fundraising round. 

Last year, the gaming space raised around $4 billion. This figure has already been surpassed in 2022, with investments totalling around $7 billion. If current trends continue, the figure is expected to reach $10.2 billion by 2022.

## DappRadar July report

At the end of July this year, the firm determined that blockchain games and Metaverse projects appear to be faring much better than other industry segments during the crypto winter. 

According to the report, unique active wallets (UAWs) decreased by 7% in Q2 compared to the previous quarter. This meant that people were still interacting with blockchain decentralised applications at nearly the same rate as before the [Terra collapse](/news/article/terra-luna-collapse).
 
 



Web3 games and Metaverse projects raised $748M

The climate crisis is, without a doubt, one of the most significant challenges for humanity. And if we are to tackle it, we need actionable strategies. [Blockchain](/news/article/blockchain-energy-fud) is one solution that can substantially help in combating climate change. Several initiatives have deployed this tech to track institutions' [carbon footprints](/articles/our-news/sustainable-future).

One such initiative is the Cardano Samsung partnership for a massive planting drive. The tech giant [Samsung](https://www.samsung.com/uk/) has launched a new project with Cardano's [Veritree](https://www.veritree.com/) for reforestation, aiming to provide nature-preserving solutions.

Let's learn how this smartphone enterprise is leveraging a crypto-based platform to tackle climate change!

## Cardano Samsung partnership

At the beginning of this year, one of the world's most renowned smartphone manufacturing companies, Samsung, launched a [project](https://news.samsung.com/us/samsung-veritree-plant-millions-trees-fight-climate-change/) to confront climate change. The company joined forces with a plantation management firm, Veritree. The plan of this project is the conservation of forests in Madagascar.

The Veritree platform assists in environmental solutions by leveraging blockchain tech. The Cardano Network powers this platform. That's why Samsung would collaborate with the [ADA token](/news/article/ada-coin-price-prediction) blockchain for its eco-friendly initiative. Together these firms will be working on the reforestation of Madagascar forests with Mangroves.

## Cardano Samsung tree planting drive via Veritree

Veritree is an innovative firm that offers reforestation as a service. Its plantation management system has a verifiable mechanism to bring transparency. The firm aims to plant over 1 billion trees in a decade by assisting different companies in their eco-friendly projects. 

This project is taking place in different regions of the Republic of Madagascar. These regions include Mahabana, Kandrany, and Mariano Mangrove. For this purpose, Mangroves are selected as they can quickly grow in these coastal regions. Veritree set the target of planting 2,000,000 trees in the first quarter of 2022 and has successfully achieved it.

![cardano samsung 1.png](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/cardano_samsung_1_18ad489ffc.png)
 
Since a verifiable system is used, anyone can track the stats for this plantation drive. Besides the tree count, it shows the area covered, and the tonnes of CO2 absorbed from the environment due to reforesting. According to their stats, reforestation has covered 200 hectares and reduced approximately 431,225 tonnes of CO2 from the environment.  

## What lies ahead for Cardano and Samsung?

Samsung is a tech giant that primarily deals in smartphones and other electronics. On the other hand, Cardano is a famous blockchain ecosystem that includes various DeFi projects. Both of them are quite distinct from each other. Yet, they share one common goal: to thrive in the crypto space and reduce atmospheric carbon emissions. 

The smartphone behemoth has already announced plans to enter the space. Samsung plans to build a [crypto exchange](/news/article/samsung-south-korea-exchange) in South Korea by 2023. It also aims to develop a unique NFT marketplace which consumers can explore through their smart TV. It will be an in-built feature in the company's smart TVs that will supposedly make trading NFT easier; a few reports suggest that the brand might leverage the ADA's blockchain for its marketplace. 

Cardano's network is one of the most popular blockchains. However, it has not yet reached the level of its competitors because of its low price. That's why its plans also involve experimenting with novel ideas like Veritree. 

The protocol recently went through a [hard fork upgrade](/news/article/cardano-hard-fork) to upscale its performance. The network might also seek expansion in African countries. So, it may create an opportunity for this network to work with the tech giant on other projects. 
Not only that, Cardano is planning numerous on-chain and off-chain developments. This may include increasing block size, updating Plutus, and improving nodes.   

## Samsung and blockchain technology

A smartphone manufacturer's name is not common in the crypto world. However, this company is looking to change this trend. The Cardano-Samsung partnership is not the only instance for blockchain use. 

The [Samsung blockchain](https://www.samsung.com/global/galaxy/apps/samsung-blockchain/) is already live. It includes a Keystore and wallet that you can use to process your daily transactions. A decentralised crypto exchange is also part of the plans to enter the crypto world, which is planned to roll out in 2023. As the company is looking to capitalise on the crypto market, exposure to Cardano via Veritree can be beneficial.  
 



Cardano and Samsung team up to tackle climate change

The Financial Conduct Authority ([FCA](https://www.fca.org.uk/news/press-releases/fca-establishes-temporary-registration-regime-cryptoasset-businesses)), responsible for cryptocurrency regulation in the UK, has closed its TRR program. The TRR, or Temporary Registration Regime, was a scheme that allowed digital asset firms to get an interim UK [crypto license](/news/tag/crypto-legal-news). 

Through it, the firms could start their operations in the country while they wait for complete registration. 

However, now the FCA has ended the temporary licensing program for the companies. This step was taken after the digital banking platform [Revolut](/news/article/revolut-news-approved-eea) acquired FCA registration. The company was the last among five waiting for the regulators' approval. As it secured the authorisation, regulators shut down the program.

## UK crypto license TRR initiative

The British regulators took the initiative of interim authorisation in 2020. At that time, it was for the virtual asset firms already providing their services in the country. More than 100 cryptocurrency-related firms entered this scheme to acquire the regulatory body's approval. However, it only deemed 38 among them to be following the [regulations](/news/tag/regulation).  

The program would have been shut down earlier as the British regulatory body announced March 31 as the deadline for complete approval. However, a few companies, including Revolut, got an extension to secure the approval. 

Five digital asset firms were still working in the country in early April without complete authorisation. Besides Revolut, [CEX.io](https://cex.io/), [GlobalBlock](https://www.globalblock.eu/), [Copper.co](https://copper.co/), and [Moneybrain](https://www.moneybrain.com/) were the remaining companies. All these four companies were denied authorisation or withdrew themselves by the end of June. 

On the other hand, Revolut remained the last company on the list. It secured registration in September, marking the TRR program’s end for a license. 

British regulators are known for their absolute measures for [anti-money laundering regulations](/news/article/crypto-aml). That’s why cryptocurrency firms do not get registered easily in the country. With the closing of TRR licensing, they have ensured that non-registered companies [do not operate](/news/article/ftx-uk-ban) in the country.


UK Crypto License Update

Avalanche bridging is mainly known for connecting ERC-20 tokens between Avalanche and Ethereum. But now, its cross-chain ability has expanded to several blockchains other than [Ethereum](/news/tag/ethereum). The latest addition to the list of network's compatible tokens is Bitcoin. 

Now, the platform allows [cross-chain support for transferring Bitcoins](https://medium.com/avalancheavax/avalanche-bridge-adds-native-bitcoin-support-6306236fb506). This means you can trade BTCs and get exposure to Avalanche's ecosystem. Let's look at how your native BTC can be bridged to the AVAX platform!

## What's Avalanche bridging?

Avalanche bridging is the capability of the network to work as a cross-chain. It allows the trading of different ERC-20 and ERC-721 tokens on the platform. The contract chain or C-chain of AVAX enables the support for multiple tokens. This has enabled the platform to grow as a diversified ecosystem for DApps.

The bridge was launched last year and developed using the web3 infrastructure of ChainSafe. However, it was limited only to the Ethereum blockchain. But, several other network tokens now enjoy compatibility with the [AVAX](/news/article/avax-vs-solana) network.

## Avalanche bridging for Bitcoin (BTC)

AVAX blockchain recently also initiated support for native Bitcoin through Bridge. Now, [BTC](/coins/btc) holders can also experience different services of the AVAX ecosystem. On Avalanche they can enjoy secure BTC transactions along with the opportunity to earn better yields. 

Like other tokens, Bitcoin is also represented as an ERC20 on the c-chain. The symbol for this token is 'BTC.b,' which indicates that it is bridged from the Bitcoin blockchain. These tokens are backed by BTCs locked in the Bridge enclave. 

It uses the innovative technology of Intel SGX (Software Guard Extensions). It is cutting-edge tech that helps solve various challenges of cross-chain transfers making the bridge tamper-proof and highly secure for BTC transactions. 

## How to bridge Bitcoin to Avalanche?

The first step for Avalanche bridging of BTC is to install the [Core Wallet extension](https://chrome.google.com/webstore/detail/core/agoakfejjabomempkjlepdflaleeobhb) on your browser. Next, open the Core app and click the 'plus' button on the right. Here you will find different options, look for the 'bridge' one and click it.

![avalanche 1.png](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/avalanche_1_8acb4650a3.png)
 
Now, you can change the blockchain to Bitcoin from the dropdown menu. After that, you can transact BTCs to your Core wallet. You can do that by clicking on the 'add Bitcoin' option under the selected blockchain. It will show your BTC address on which you can receive payments. Note it down and send BTCs to it.

![avalanche 2.png](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/avalanche_2_347e71b7f1.png)
 
Once you have sent the amount to your Core address, add it for bridging. After that, click on 'Transfer' to convert your tokens into bridged ones. And finally, you will be ready to use them on the AVAX blockchain. For further clarification, you can follow [this tutorial](https://www.youtube.com/watch?v=JG1y_aFeMJc&t=25s).

## In a nutshell

The Avalanche network's introduction of cross-chain features for Bitcoins through its bridge will help users experience innovative DeFi projects on the AVAX blockchain. Using the Core wallet, you can easily convert your BTCs into ERC20 bridged tokens. The SGX technology is one of the unique features, making it a complete platform for native BTC transfers.  



Everything to know about Bitcoin Avalanche bridging

The [Matic token](/coins/matic) has been one of the few cryptocurrencies in recovery since May 2022 in the bearish crypto market. One primary reason behind it is the [Polygon news](/news/article/polygon-crypto-news) confirming the Matic Disney collaboration for the Disney 2022 Accelerator Program. 

Since then, the token has seen some positive price action. It currently trades at $0.742, according to per [CoinMarketCap](https://coinmarketcap.com/currencies/polygon/). Though the token gained momentum after the news, its value is still less than USD. 

Many are curious why Disney prioritised Polygon tokens over other high-performing ones. Let's take a look at the reasons Disney preferred Matic! 

## What is the Accelerator Program?

Walt Disney Co. runs business development and mentorship programs for tech startups. It is aimed at funding and mentoring six innovative firms. The entertainment giant selects the firms based on their potential to thrive in the entertainment industry. The initiative takes place in summer each year. This year, it also started in July and will conclude in October.

Part of the plan for the [Disney Accelerator programme](https://thewaltdisneycompany.com/2022-disney-accelerator-participants-announced/) is to build immersive experiences with Augmented Reality (AR) tech and create AI-based character NFTs. For this reason, Matic's team is also part of this year's mentorship initiative. 

Alongside Matic, Disney will work with five other AR, AI, and web3-based companies. These include; [FlickPlay](https://www.flickplay.co/), [Red 6](https://red6ar.com/), [Obsess](https://www.obsessar.com/), Inworld, and [Lockerverse](https://www.lockerverse.com/). Polygon is the only cryptocurrency firm to be part of this program. 

## Four reasons why Matic and Disney teamed up for Accelerator

Let's examine why Polygon is the ideal selection for the Accelerator!

1. Scalable network for web3 projects 

One primary reason behind the popularity of the [Polygon](/news/article/polygon-crypto) network is its scalability. It is a layer-2 solution for Ethereum which can support scalable web3 projects. Besides being an Ethereum Virtual Machine (EVM), it provides formidable security. 

The network offers an array of Ethereum solutions, which developers can use for varying needs. From PoS to the open-source EVM, all are impressive scalable solutions.

2. A cost-effective option for NFTs and GameFi

The Matic network costs are also on the lower side. It is the prime factor behind the Matic Disney union. As the entertainment platform is seeking its place in the non-fungible token NFT market, it can be pretty helpful. The firm can leverage the Matic blockchain to turn its famous characters into NFTs. And the low transaction fee can be a crucial selling point to entice the audience. 

Similarly, this feature can also be quite helpful in developing blockchain-based games. Polygon ecosystem has a variety of GameFi projects. These include notable games like Voxies, Rebel Bots, Pegaxy, Crypto Raiders, and others.

3. Polygon's alliance with other key players

The Matic Disney collab for the Accelerator program is not the only impactful partnership this protocol has. It enjoys alliances with many other key players in the industry, including one of the most impactful alliances with the social media and Metaverse giant [Meta](/news/tag/meta/2). Mark Zuckerberg's company recently rolled out a cross-posting feature using Polygon. 

Also, one of the largest NFT marketplaces, [OpenSea](/news/tag/opensea), integrates with Matic NFTs. Meanwhile, other noteworthy names include Reddit, Robinhood exchange, and Stripe partner with the Matic network. Which suggests it is a growing blockchain company in the industry.

4. Diverse ecosystem

Another reason Disney selected Matic for its Accelerator program is its complete and diverse network. It can be an ideal platform for various Decentralised Applications (DApps). Its suite has numerous solutions designed for developers' ease of integration. The ecosystem can support NFTs, GameFi, and other DeFi projects that align with the needs of Disney.  

## How beneficial will the Matic Disney union be?

For Matic, the Disney partnership means growth. The short-term gains are already quite evident. Before this announcement, the token was traded at only $0.4 starting in July. 

However, in mid-July, it started gaining positive momentum as the price approached $0.6. The price then appreciated to over $1 in August. And now its price has decreased to $0.75. Nonetheless, this is commendable as the crypto market is going through a severe winter. Moreover, it positions the crypto well for future gains.

The [prospects](/news/article/matic-price-prediction) also look pretty exciting for the blockchain. It may unlock an opportunity of turning Disney World's characters into live NFTs. Moreover, it may lead to creating a Disneyland Metaverse, where the audience can enjoy an AR-based immersive environment. It will likely introduce the Polygon network to a prominent entertainment industry audience. 



Matic Disney Collab: Why Polygon for Accelerator 2022?

The asset management behemoth, [BlackRock Inc](https://www.blackrock.com/corporate), has rolled out a blockchain technology exchange-traded fund ([ETF](/news/article/crypto-etfs)). The firm has extended its services to European consumers, giving traditional markets more exposure to investing in blockchain companies. 

The latest BlackRock ETF has been named [iShares Blockchain Technology UCITS ETF (BLKC)](https://www.ishares.com/ch/institutional/en/products/328618/ishares-blockchain-technology-ucits-etf). The product was introduced on September 27 and consists of 50 holdings. Among them, 35 companies are blockchain-related, while others firms aid the blockchain industry. 

## BlackRock ETF offering EU investors exposure to blockchain

Previously, the Blackrock introduced a similar ETF product in the US. Now, it is seeking expansion in European market. 

The firm's product strategist for thematic and sector ETFs, Omar Moufti, has said that the new offering will allow customers to interact with leading companies in the distributed ledger ecosystem. 

Moufti further pointed out that these technologies will "become increasingly relevant for our clients as use cases develop in scope, scale and complexity."

## Blockchain BlackRock ETF holdings

There are 50 holdings, including around 75% of crypto exchanges and mining firms. On the other hand, firms supporting the blockchains make up the remaining 25%. Moreover, this new BlackRock ETF does not deal in crypto investments directly.

The top five holdings are [Coinbase](/news/article/blackrock-crypto) (13.20%), the fintech firm Block (11.40%), Riot (10.50%), Marathon Digital Holdings (11.13%) and USD cash (13.00%).

Other companies the new BlackRock ETF invests in include twenty-three IT firms, six financial, one communication, and one industrial company. 

## A Metaverse ETF is in the works

Bloomberg recently [reported](https://www.bloomberg.com/news/articles/2022-09-29/blackrock-plans-another-crypto-etf-after-feeble-iblc-debut#xj4y7vzkg) that BlackRock plans to introduce a unique exchange-traded fund related to Metaverse, which may include virtual or social media platforms. Its ticker and fees are yet to be confirmed. 

Earlier in August, the world's largest asset manager made its way into the crypto space by offering its institutional clients [Bitcoin spot](/news/article/blackrock-investing) exposure. Now, it is working on several other products related to digital assets to expand in the market. 



New BlackRock ETF invest in 35 crypto-related companies

Cryptocurrencies have digitised a significant amount of global monetary flow in a matter of years. But unfortunately, this transition has also provided a medium for scammers. Many criminals take advantage of blockchains to launder money. Because of this reason, anti-money laundering (AML) laws have become more relevant today.

Investors are at more risk of fraud from Ponzi scheme-based projects than ever. That’s why introducing such laws in crypto has become crucial to keep investors and the overall industry safe. 

In this article, we will learn about the role of AML in crypto and why it has become necessary for the regulatory authorities.

## Understanding AML in crypto

Money laundering is defined as an illegal act of cleaning money that is obtained through illicit means. Fraudsters conceal their actual source of earnings and change it to a legal one to escape from laws. To impede such crimes, governments have AML laws.
 
AML for crypto is the set of similar regulations that applies to the traditional laundering of money. These help stop the fraudulent conversion of illegally gained digital assets into fiat currencies. 

In many countries where crypto is regulated, AML is supervised by financial crime authorities. For instance, in the United States, [FinCEN](https://www.fincen.gov/) handles AML. Likewise, in the United Kingdom, [FCA](https://www.fca.org.uk/) ensures accountability.

## How does AML work in crypto?

The Financial Action Task Force [(FATF)](https://www.fatf-gafi.org/) is a global organisation. It defines the rules each country has to follow to prevent the misuse of finances. In 2014, the organisation also incorporated virtual assets into its code. Following that, the financial authorities of many countries included it in their regulations. 

Authorities are working with virtual asset service providers (VASPs) to implement these laws. VASPs include cryptocurrency exchanges, NFT marketplaces, token issuers, and some DeFi firms. These are required to register themselves to the regulatory bodies. 

Furthermore, they must follow the know-your-customer (KYC) standard to get user information. This way, regulators can easily track suspicious transactions as they have access to necessary user information. 

## AML and KYC for crypto

The KYC procedure is one of the most critical parts of identifying illegal transfers. The decentralised distributed ledgers maintain transparency and traceability. That’s why they allow irregularities to be easily spotted. Once the authorities know the public wallet address, they can track down the person or entity behind it through blockchains. 

However, digital asset companies have a different KYC standard than traditional firms. Here, face and biometric verification are not required. Instead, you must provide your legal name, authentic address, and ID card. But, these standards differ from one service provider to another. The reason is that not all of them are regulated by one authority.

## AML Consulting services for crypto 

In the digital assets market, anti-money laundering (AML) measures have become so necessary that now there are consultants in this domain. Various firms have emerged that provide P2P services for compliance with laws. These firms operate to ensure compliance with AML and protection against terrorist financing regulations. 

One leading firm among them is the [Digital Officer](https://digiofficer.com/about-us), a team of specialists in the AML domain. The firm can protect you against scams and assist in complying with the set code by the local authorities and FATF. Their services cater for both P2P and B2B, such as VASPs. 

## Why does AML crypto matter?

Cryptocurrencies have reshaped the entire world economy. But, it has also posed several challenges for financial regulators. Since the dawn of blockchain technology, criminals have relied on it for their illegal activities. Financing terrorism, running Ponzi schemes, and other [scams](/news/tag/scam) have become prevalent. Definitive measures became mandatory to stop the crime. And so, AML regulations took shape. 

Now, the financial authorities in many countries have [crypto regulations](/news/article/crypto-regulations) for penalising criminals. By regulating VASPs, they get information about the investors. Then track the suspicious transactions and withdrawals to prevent crimes. 

This has opened up a new area of the market for compliance consulting business. Now many service providers specialise in anti-money laundering laws. They assist clients in complying with local and international laws and protect their funds from scammers. Make sure you're covered with crypto compliance with firms such as Digital Officer.



Crypto AML & its importance in the industry

The stablecoin, [Circle USDC](/coins/usdc), has [reported](https://www.circle.com/en/pressroom/circle-announces-next-wave-of-usdc-support-for-multi-chain-ecosystem) that it will be adding five new blockchains to its support network. [Circle Internet Financial](https://www.circle.com/en/) has taken the step to become a better multichain ecosystem. It plans to expand support to the [Polkadot](/news/tag/polkadot/2), Cosmos, Optimism, NEAR, and Arbitrum One networks. 

The firm first announced this on Wednesday at the Converge22 conference. Other than the [Cosmos network](/news/article/cosmos-crypto-explained), the stablecoin will be natively available on all others by the end of this year. Meanwhile, on the Cosmos network, it will be rolled out in 2023. 
 
![usdc circle.png](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/usdc_circle_8a290a8d4b.png)

## Product VP on the multichain expansion

At the event, the Vice President of stablecoin issuer's Product, Joao Reginatto, shared his thoughts on the multichain expansion. He mentioned that Circle's USDC support for numerous blockchains will allow "greater liquidity and interoperability within the crypto economy." 

Moreover, he also announced that Circle's USDC will now be available on thirteen blockchains with the addition of new blockchains to come. Previously, it only supported eight networks. 

Circle's Product VP was also optimistic that the expansion might lead to more innovation. Also, he said that the exchanges, developers, and other institutions will enjoy "easier access to a trusted and stable digital dollar."

## Competition among stablecoin issuers

Stablecoins are crypto tokens that are backed by a fiat currency. Usually, the US dollar is used for it. They are essential in bridging the gap between the crypto market and the traditional economy. Stablecoins account for a total of $150 billion in the crypto market. 

Circle Internet Financial is one of them that offers stablecoins pegged with USD and [EURO](/news/article/euro-coin). It competes with other industry giants like [Tether](https://tether.to/). The company is looking to capitalise on its market share by extending its multichain support. 




Circle USDC expands support to five new networks

[SushiSwap](/coins/sushi) is an acclaimed decentralised exchange (DEX) which is transforming into an ecosystem of DApps. Unlike many other DEXs, it does not only support Ethereum but several different blockchains. This interoperability gives SushiSwap an edge over its competitors. 

One of its innovative services is the SushiSwap Metaverse. The unique thing about this is that it is an intermix of the NFT marketplace and the Metaverse. Its ecosystem is entirely backed by [Sushi](https://sushi.com/) and is built to serve both; artists and art collectors. 

This article will discuss everything you need to know about the SushiSwap Metaverse!

## The ShushiSwap Metaverse - Shōyu

The SushiSwap Metaverse is named Shōyu and was launched in November 2021. The platform, which merges the 3D virtual environment and an NFT marketplace, is shaped by the decentralised Finance (DeFi) firm Sushi on the Ethereum mainnet. It works like an Automated Market Maker but also has cross-chain features. It can support L2 solutions like [Polygon](/news/article/polygon-crypto).

It introduces 3D art galleries, where art appreciators can participate in exhibitions via VR devices. Collectors and artists can communicate with each other in a virtual setting, creating a dynamic experience for all. 

You are also able to trade your NFTs via these 3D galleries. You can bid in several ways, including English auction, Dutch auction, or simply buying at the fixed price. It also creates accessibility for the collectors by introducing NFT shares.

 ## Features of SushiSwap Metaverse

1. Compatible with the Sushi ecosystem
Shoyu, the NFT marketplace and [Metaverse](/news/tag/metaverse), is powered by the Sushi platform. This makes it a unique platform that combines DeFi with art. Moreover, Sushi has helped Shoyu to deviate from the conventional structure of marketplaces. It has introduced the 3D immersive environment of Metaverse in NFT trading.  

2.          3D art galleries
As this NFT platform also shares the features of a Metaverse, it also has 3D art galleries. Artists can showcase their digital art collection in a customised, immersive environment. It changes the traditional grid-like display of collectables to more like a real exhibition mode. For this purpose, it supports various VR devices to make them more accessible for the collectors. 

3.          NFT shares
On this platform, you can also have shares in a non-fungible token. As NFTs are quite expensive, not all art lovers can afford them. It solves this problem of inaccessibility by introducing NFT shares. That’s why multiple collectors can claim part ownership of an NFT simultaneously, and its price is shared among them.

4.          Low gas fees
A low transaction fee is another advantage of using SushiSwap Metaverse. It is an automated market maker (AMM) on the Ethereum blockchain with the multi-chain feature. This allows the platform to support several L2 protocols like Polygon. These solutions are much cheaper and less congested in comparison to Ethereum. That’s why you can enjoy cheaper transactions on it. 

5.          Environmentally friendly
The L2 solutions also make it an eco-friendly option. Since Ethereum’s main net consumes more energy, it has more emissions. So, it takes operations off the Ethereum blockchain to other energy-efficient blockchains. 

## Bottom line

Shōyu by Sushi is a highly dynamic [NFT market](/news/article/buy-nft-market) that incorporates virtual reality experiences for both; artists and collectors. It has revolutionised the traditional setup of NFT marketplaces. Besides, it creates more accessibility for digital art collectors by offering the option of acquiring shares in a digital art token. 

In addition, it has cross-chain features too. Therefore, it can support the Polygon network, which allows lower gas fees and is eco-friendly. Because of such features, the SushiSwap Metaverse is a novel alternative to popular NFT marketplaces.



SushiSwap Metaverse 101: All you need to know

Ethereum has dominated the [non-fungible token market](/news/article/nft-art-marketplaces) for years. But now, several other contenders are taking over. One of which is the Polygon network. Its speedy transactions and lower gas fees make it a viable option for trading NFTs. 

Besides, in the recent past, [Polygon Times](https://polygontimes.com/) has announced partnerships with various leading NFT marketplaces and web 3.0. firms which make it a worthy alternative for traders.

The upcoming Polygon NFT drops can be an excellent place to start if you want some exposure to NFTs. 

## Next big Polygon NFT drops 

Let’s check out some of the potential next big Polygon NFT drops!

1.      Just Cat
Animal digital art, including apes, bears, pandas, and cats, is popular across different blockchains. One similar kind of project is [Just Cat](https://justcatnft.com/) on Polygon. This collection includes 3,000 cat NFTs. These are baby cats ‘who love everyone'.

![polygon nft 1.png](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/polygon_nft_1_f434013678.png)
  
The presale for the Just Cat collection started on 18 September and will be going till the 20th. You can get them through OpenSea via ETH. As a holder of this digital asset, you can enjoy access to exclusive events. 

2.       Mars IDs
[Mars IDs](https://marsids.co/) is a unique project on the blockchain. It introduces future IDs for residents of planet Mars as NFTs. It also involves future tickets to the planet. These are super rare non-fungible tokens with 10,000 ID cards for future residents.

![polyon nft 2.png](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/polyon_nft_2_fb8acbb172.png)
 
The whitelist minting began on 01 September, whereas it will be available in the marketplaces from 01 to 08 October. Its whitelist mint price is 20 MATIC, and after the end of the presale, it may reach up to 100 MATIC. 

3.       No Faith Terra - Humanos de Ilunion
[No Faith Terra](https://nofaithterra.io/) is another exciting upcoming Polygon NFT drop. It is dedicated to the gaming community, especially those who enjoy role-playing games. It involves various characters that you can use in games as your avatars. A total of 4,444 adventurous characters are part of this collection. 

![polygon nft 3.png](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/polygon_nft_3_bd57bd8d3b.png)
 
The WL presale for No Faith Terra will be ongoing from 09 to 16 October with the price of 15 MATIC. However, the public sale will start on 23 October, in which their value will be 35 MATIC.

4.          Lost Buffoon Legions
[Lost Buffoons Legions](https://lostbuffoons.com/) is a compilation of lost souls sent here from the most bottomless pits of hell. These buffoons are punished for their evil deeds and seek redemption, wandering on earth for eternity. This project allows you to become the owner of a lost buffoon. Also, you can give it a name and write its story. By becoming a part of it, you will be supporting abuse survivors. 

![polygon nft 4.png](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/polygon_nft_4_2b79bb42a6.png)
 
There will be 9,996 tokens in the collection. These will be dropped in six rounds, and 1,666 tokens will be released each. The first drop will start on 21 September and end on the 28th. 

5.          Boomerang Tang
[Boomerang Tang](https://www.boomerangtang.com/) is yet another distinctive Polygon NFT drop that is happening soon. It introduces some of the popular 80’s video game tracks as NFTs. It can be nostalgic for any gamer interested in the classic chip or video games. 

![polygon nft5.png](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/polygon_nft5_b3d6a6f86e.png)
 
The project involves a library of 6,442 tracks. Initially, 4,800 tracks will be released on OpenSea. The public sale for these tunes will start on 29 September and continue till 06 October. 

## Final thoughts

[Polygon](/news/article/polygon-crypto) network is evolving to be a diverse platform for NFTs. The announced collaborations with major marketplaces and firms by Polygon Times indicates its potential. Besides, many innovative projects are already available on this blockchain. 

In addition, several Polygon NFT drops are lined up for the next few days. So, consider exploring the upcoming drops mentioned above if you want to start on this network.



Top 5 upcoming Polygon NFT drops 2022

One of the top-rated cryptocurrency exchanges, FTX, has secured the auction for Voyager Digital’s assets. The [crypto firm Voyager](/news/article/voyager-crypto) confirms that FTX US made the winning bid for the company’s assets, which was $1.422 billion. 

[Sam Bankman-Fried’s](/news/article/sam-bankman-fried) exchange competed for this sale with the crypto investment firm [Wave Financial](https://wavegp.com/). Apart from that, Binance, CrossTower, and several other virtual asset firms also participated in the auction.

On Monday, the exchange issued a [press release](https://www.prnewswire.com/news-releases/voyager-completes-successful-auction-and-announces-agreement-for-ftx-to-acquire-its-assets-301633679.html) announcing the auction’s completion. It mentioned that the bidding war took place for two weeks. It has concluded with the Bahamas-based firm’s winning bid. 

Moreover, it disclosed that the accepted bid includes the future market value of the firm, which is $1.311 billion. Also, it consists of an estimated incremental value of $111 million. 

## Bankruptcy of the crypto firm Voyager

Earlier this year, in July, crypto Voyager Digital filed for [bankruptcy protection](/news/article/crypto-lending-platform-voyager) in the United States. Chapter 11 bankruptcy protection allows businesses to continue their operations while they figure out a plan for either restructuring or selling it. 

It suffered losses of around $650 million as [Three Arrows Capital (3AC)](/news/article/genesis-crypto-claim) defaulted. When filing for the protection, the company was in financial ruin as it had a debt of $1 billion. Following that, it restrained its consumers from retrieving their funds. 

## What is in store for the future of Voyager Digital?

As of now, the company has not provided much information regarding its customer’s crypto funds. However, it has been mentioned that the information regarding how the customers will be able to access their funds will be shared “as it becomes available.”

Nonetheless, it clarified that the exchange would allow its customers to stock and trade their virtual assets. However, it will be authorised after the firm’s chapter 11 bankruptcy cases are resolved. Moreover, this deal will also be completed after the conclusion of the debt issues. The expected date for its decision is October 19.





crypto lender voyager sells assets to ftx

Crypto lender Voyager's assets auctioned to FTX US

[Swapit.io](https://swapit.io/) is a one of a kind DeFi platform that brings in the unique features of gameFi and NFTs with it. It also introduces a mobile application that allows users easy access to its services. Besides, the platform's [GameFi](/news/article/what-is-gamefi) involves social gaming features, which can shape a dynamic community. 

Moreover, the roadmap for this project hints toward a possible NFT distribution service. It also aims to introduce Ethereum-like protocols and interoperable standards. Indeed, the features of this [DeFi](/articles/learn-moni/what-is-a-defi-token) platform sound promising. But due to a lack of clarity in its roadmap, it faces questions about its legitimacy. 

## How does Swapit.io work?

Before we discuss whether or not Swapit.io is legit, it's essential to know how it works. The games on the platform have the swap and win mechanism. There is a random number generator or RNG algorithm behind it. It generates randomised numbers that trigger a particular event in the game. It may result in getting a rare collectable or landing a hit. 

The platform introduces 980,000,020 cards as tokens. RNG score decides the items you will get for a game. The Joker card is the rarest, and if you submit it to the community pool, an NFT will be auctioned. To trade these NFTs, you will need SWIT tokens. 

## Swapit.io trustworthiness

The project combines three different elements on the [blockchain](/articles/learn-moni/what-is-blockchain). These are; Play-to-earn games, NFTs, and a tokenised DeFi ecosystem. It is a decent project built on a highly trusted network of [Binance smart chains](/news/article/bnb-price). Moreover, it has sophisticated SWIT tokeonomics with a total supply of 1,000,000,000. 

Besides, one prominent feature that makes it trustworthy is that the project is audited by Automated Security Audit System (ASAS). This ensures that no overpaying happens by maintaining weekly payouts at 80%. Along with that, its roadmap suggests that NFT distribution and interoperable protocols can be introduced later. 

However, one thing that still leaves some doubts is the lack of information about the project's founders. But, all the other signs indicate that Swapit.io is a legit company. 

This review is based on the information provided on the company website and other available resources. There is always risk involved in crypto-related services and products. That's why it's wise to conduct your research before investing.
 



Swapit.io Review

The [Celo platform](https://celo.org/) is a layer-1 protocol that introduces an ultralight and fast app through which you can do transactions in stablecoins or tokens. This protocol allows you to develop user-friendly and borderless financial tools accessible via mobile.

The Celo token as it is the native currency on the platform. You can earn this crypto in various ways, including staking, [lending](/news/article/crypto-lending), or yield farming. However, as it is based on PoS, staking is highly rewarding.

This article runs through the steps to stake Celos to make better profits. 

## How to stake Celo?

The following simple steps will help you figure out how to stake Celo tokens!

1.	Create a Celo web wallet

![celo 1.png](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/celo_1_20be758d83.png)
 
You first need to create a web wallet to earn Celo staking rewards. For this, go to the [Celowallet.app](https://celowallet.app/setup) and click on *Create New Account*. It will show a warning for security risks of using the browser version. Here you can proceed by clicking the *I Understand* button. 

![celo 2.png](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/celo_2_84ae71b2aa.png)

Then, it will show your public address, unique icon, and seed phrase. Note down your wallet address and seed phrase so that you can securely access your account in future. 

2.          Set up the desktop app

After that, install the desktop app on your device. Sign in to your wallet by entering your details. Once your wallet runs on the app, you can send Celos to it for staking.  

3.          Lock Celos

Now, you need to lock the Celos you want to stake. For this, click on the *More* button, which will open a dropdown menu. Select the Lock option here and enter the amount you want to stake. After that, proceed with *Continue* and confirm with *Lock*.
 
4.          Assign Celos to a validator group

Once you have locked the tokens for staking, you can assign them to multiple validators. Again, go to the More dropdown menu and select *Stake* for assigning them to a validator. It will lead you to a list of validators in the system. 

This is tricky, as you have to choose the right validator to earn better rewards. However, you can easily check their track records by clicking on their names. If the status is good, you can proceed with the *Vote for Group* button.

After that, you can enter the number of tokens you would like to delegate to the selected validator. Finally, continue and confirm by clicking on Vote.

5.          Activate validator votes

The last step for staking Celo is to activate your validator votes. As the platform requires 24 hours to verify the votes, you would have to wait. Then, revisit the app after the period, and it will ask you about vote activation. 

Proceed with *Activate*; a page will appear with all the details about the validator and staked amount. Finally, verify these details and activate these votes to stake Celos.

## Bottom line

Celo staking is one of the easiest ways of earning rewards on the platform. First, you must set up a Celo wallet and app on your device. Then, send Celos to your wallet and lock them for staking. After that, delegate the tokens to a validator by voting for them. Finally, activate your votes after 24 hours to earn staking rewards. 



How to stake Celo? - A step-by-step guide

The [Cardano (ADA)](https://cardano.org/) network welcomes a new update, Vasil. After the [Ethereum Merge](/news/article/ethereum-the-merge) last week, on Thursday, September 22, the Cardano hard fork was successfully released. It is the most significant upgrade on the blockchain since last year’s smart contract update. It is likely to enhance the capability and performance of the blockchain. 

Charles Hoskinson, the co-founder of the network, announced the deployment of the Vasil in a [live Twitter space](https://twitter.com/IOHK_Charles/status/1573055811382829056). Meanwhile, [Input Output Hong Kong (IOHK)](https://iohk.io/), a blockchain firm, also proclaimed the procedure’s success. 

In a tweet, the firm said the launch took place at 21:44:00 UTC and collaborated with the Cardano foundation.

![cardano.png](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/cardano_306c5cc934.png)
 
Previously, IOHK also disclosed one significant feature of ADA’s recent update: block transmission will be possible without complete validation.

## What is the Cardano hard fork upgrade?

A hard fork is a blockchain split that results in two branches of the same protocol. It validates previously invalid transactions and blocks or vice-versa to develop a new version. There can be several reasons behind this update, like the performance limitations. 

In [Cardano’s](/news/tag/cardano) case, the Vasil update improved the network’s performance. It is to enhance the transaction speed and lower the transaction cost. Moreover, its Plutus smart contract will be upgraded to improve the decentralised applications.  

Though the Vasil has been deployed, the full features of this advancement will be accessible to the developers after September 27, as the upgrade is a lengthy five-day procedure. 

Before it went live, Charles Hoskinson said that the [Cardano hard fork](/news/article/cardano-vasil-hardfork) is one of the hardest to execute for the developers. This is the reason it got delayed and rescheduled several times. Initially, it was planned to take place in June but got postponed because of bugs in the mainnet causing compatibility issues. 
 




The Cardano hard fork upgrade goes live

FTX is one of the top-rated crypto exchanges in the world. It was founded by renowned entrepreneurs and investors Sam Bankman Fried and Gary Wang. The exchange launched in 2019, with its headquarters in the Bahamas. 

It offers a range of services in the crypto space. In the last few years, the platform has become increasingly popular. Now, it is only behind Binance and Coinbase, according to [CoinMarketCap rankings](https://coinmarketcap.com/rankings/exchanges/). 

Are you interested in learning more about what FTX exchange is and what services it offers? Here are all the details!

## What does FTX offer?

It is a centralised cryptocurrency exchange that offers various services and products. Here are a few of them! 

1.	Various leveraged coin pairs on the exchange offer up to 3x returns. 
2.	Its futures trading allows short-term and long-term bets. You can trade assets at a set future price and date.
3.	With Spot, you can trade in over 100 pairs.
4.	Its options feature gives you call-and-put options so that you can speculate and hedge future prices by mitigating risks.
5.	It allows trading in 11 different fiat currencies, including USD, GBP, CAD, AUD, EUR, etc.
6.	Its MOVE contracts enable you to wager the change in price over time. The price change can be in either direction, and you can make a profit from it. 
7.	It has its native token, FTT, that you can stake to make profits. 
8.	The exchange also offers a range of advanced, basic, and reduce-only order types. 

## What is the FTX exchange fee?

The platform does not have a withdrawal or deposit fee. However, you have to pay for withdrawing BTC, ETH, and other ERC-20 tokens. Bitcoin withdrawals of less than 0.01 would be charged 0.1% trading fees. But your first withdrawals and withdrawals over 0.01 BTC will be free. 

On the other hand, for fiat currencies, the trading fees range from 0.02-0.07% if the amount is smaller than $5000. However, trades over this amount will be free. Moreover, if you have staked the FTTs, you would not have to pay this fee.   

## Regulation and security 

Regulation and security can be one of the main concerns of investors. However, FTX can be a safe option as it is looking to register in different parts of the world, including the [UK and the US](/news/article/ftx-europe-uk-expansion). Currently, it is regulated by the Bahamas Securities Commission. Also, FTX US is held by the US’s FinCEN bureau.
 
Moreover, the company rebranded LedgerX as a crypto derivatives platform, [FTX US Derivatives](https://derivs.ftx.us/), in the US. This platform is regulated by the Commodity Futures Trading Commission (CFTC). 

To ensure the security of the transactions, FTX uses the 2-factor authentication method. You might get an SMS or a notification from Google to log in on the exchange. Moreover, it also seeks help from cybersecurity firms like FBG Capital, True USD, and Circle. They audit the security and maintain transparency. 

## What is FTX token, FTT?

The exchange has also introduced its token, FTT. The token can be quite beneficial for investors for various reasons. For one, it can be staked to generate a passive income. Moreover, it allows you to pay the exchange’s trading fee. Also, it helps in futures trading by working as collateral. 

FTX is a highly reputable crypto derivatives exchange. It caters to all digital asset investors regardless of their investing exposure. The array of crypto trading services it offers allows you to make comprehensive profits. 

The firm ensures commendable security and transparency, making it a reliable choice for investors. Apart from that, as it is seeking a green signal from numerous regulators and partnering with reputable crypto exchanges like [Reddit](/news/article/reddit-partner-with-ftx-crypto), FTX might become a global leader in future. 


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Author: Wasay Ali

Author: Wasay Ali | Page 6

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