You may have heard of the blockchain-based Fireblocks platform. 

Fireblocks platform is a product created for the crypto market to move and manage institutional assets. So what is this platform all about?
Most of what you may have experienced as a crypto market trader or investor is buying and selling crypto assets on a small scale. A small-scale crypto investor may be trading with funds that range from a few hundred to tens of thousands of dollars.

When crypto investments break the seven-figure barrier, this marks a transition from a small-scale operation to an institutional-scale one. At the institutional level of investment, you cannot keep operating with the same tools as the small-scale, retail-level traders. It would help if you had a resource that guarantees better security, better pricing for your trades, and more robust tools to manage such enterprise-level investments. This is where the Fireblocks platform comes in.

Fireblocks is a platform that provides you with enterprise-grade resources to move and manage your digital assets securely.

The large sizes of institutional crypto portfolios require the brokers/exchanges handling their business to offer something beyond the regular. Several factors constitute risks in the crypto market.
The first is the system of storing digital assets. Crypto assets are held on exchanges or in self-custody wallets with private keys. The two systems are fraught with risks.

Exchange-held assets are highly vulnerable because they are stored in online/hot wallets. Hackers are no longer the only threat to exchange-held tokens. Recent events such as [the collapse of FTX](https://brendanbeeken.com/ftx-collapse/) and [Celsius](/news/article/celsius-bankruptcy-judge-order) have shown that exchanges run by inexperienced hands with limited compliance and internal controls are as much a risk as a hacking team.

Self-custody wallets require that the owner of the assets secures the wallet with a private key. If the key is misplaced or compromised, the assets are lost forever.

Another requirement for institutional crypto investors is a robust trading environment that presents the user with professional tools that are not accessible to anyone else. For instance, institutions are very keen on risk management and prefer using platforms that provide market-neutral trade types.

As will be discussed later, the MPC proprietary protocol used in designing the institutional-grade wallets on Fireblocks also enables trades to be made up to eight times faster than the industry average. If you trade huge volumes, you must split up your trade sizes to get good executions without altering the market price too much. Having ultra-fast transaction speeds compensates for the inability to push out all orders simultaneously, and the MPC protocol guarantees this.

## Digital asset operations you can perform on Fireblocks

a)   Deposits and withdrawals using MPC wallets
Multi-Party Computation (MPC) wallets are considered more secure than traditional crypto wallets as they utilize a system of wallet key management that allows multiple parties to simultaneously perform various cryptographic-based functions without revealing their inputs.

This means there is no single point of failure (such as losing your private keys) as with traditional wallets. Fireblocks is one of the pioneers of this technology. As an institutional player, you cannot pin the security of your massive crypto holdings to the existence of a private key. Considering that billions of dollars in crypto assets have been lost forever due to the misplacement of private keys, you would know that this is a big deal.

b)  Trading with liquidity providers and trading venues
Trading on an institutional basis requires a direct connection to liquidity providers. This level of trading is equivalent to wholesale trading because the liquidity required at this level is enormous. This large liquidity base enables institutional traders to get the best possible pricing and the cheapest spreads. The Fireblocks platform provides direct market access to liquidity providers, trading desks, and counterparties. This connection also provides access to a round-the-clock settlement of trades for more than 400 tokens across over 30 major exchanges.

c)  Perform various account analytics functions
Fireblocks also allows you to view various asset storage analytics. For instance, you can view your digital assets in offline vaults, exchanges, or in fiat accounts. You can also view your account inflows and outflows and check your open/closed trades and positions.

d)  Speedy transfer of digital assets to and from centralized exchanges
Another vital function required to effectively manage institutional crypto assets is the ability to move funds in and out of an exchange to a non-custodial wallet. Typically, institutional digital assets account for most fund outflows from centralized exchanges during market turbulence.

Whenever there is a market upheaval, the crypto market witnesses a large volume of outflows from centralized exchanges to private wallets. The UST collapse, FTX collapse, and the [bankruptcy of Celsius led to net outflows from centralized exchanges](https://blog.chainalysis.com/reports/personal-wallets-institutional-crypto-adoption-self-custody-defi/). Institutional funds accounted for 68% -77% of these outflows.

The reason is not far-fetched. Capital preservation and risk management are at the heart of institutional-level investment operations. To protect capital during a market downturn, there has to be a secure pathway to move these large volumes of digital assets.

The Fireblocks platform offers this secure environment. Its connectivity with several exchanges ensures that such movement of funds can be done simultaneously, securely, and speedily.

## Fireblocks Conclusion

Enterprise-level crypto portfolio management requires a more robust approach than what is obtainable in the retail segment of the market. Upgraded encryption, advanced cryptography that eliminates a single point of failure, and a secure system for conducting the industrial-scale movement of digital assets between exchanges and non-custodial wallets are a must. Fireblocks has provided a one-stop shop for institutional-level clients' needs.

The Fireblocks platform serves hedge funds, neobanks, PSPs, exchanges, prop traders, and lending desks. The platform supports all ERC-20 tokens and assets on the Binance Chain and the Avalanche network. You have to initiate the connection process by requesting access via the online form on the website.


fireblocks logo on image of blockchain with blue filter

Blockchain-Based Fireblocks Platform Explained

The CBUAE (Central Bank of the United Arab Emirates) has revealed its strategy for introducing the UAE CBDC. The CBUAE will likely launch its digital currency by mid-2024.

On March 23, the CBUAE released an [official statement](https://www.centralbank.ae/media/lpoilyue/cbuae-launches-the-central-bank-digital-currency-strategy-the-digital-dirham-en.pdf) regarding its strategy for the digital Dirham. The statement mentioned that the CBUAE has signed an arrangement with the [R3](https://r3.com/) and [G42 Cloud](https://www.g42cloud.com/) firms to launch its CBDC. 

## UAE CBDC: The three pillars of the first phase

The announcement further stated that the first stage for implementing the digital Dirham would likely be concluded in the next 12 to 15 months. The central bank has set three main pillars or goals for the first stage.

Firstly, the CBUAE is aiming for the soft launch of its pilot project, mBridge. It is a cross-border payment with several central banks and authorities. They include the Bank for International Settlements (BIS), the Bank of Thailand, the Hong Kong Monetary Authority, and the Digital Currency Institute of the People's Bank of China. 

The second goal of the CBDC's first stage is to collaborate with India for virtual currency bridges. India is among the UAE's top trading allies. The two countries will work on a bilateral virtual coin bridge to facilitate trade. Meanwhile, India itself is implementing its [digital Rupee](/news/article/reserve-bank-of-india-cbdc).

Lastly, the Proof of Concept work will also be implemented for the domestic Dirham. It is to facilitate the wholesale and retail uses of the currency.

## Financial infrastructure transformation

Introducing a digitized version of the Dirham is a key step toward financial infrastructure transformation in the country. The FIT program in the UAE is looking to catch up on the global trend of introducing CBDCs.

Many countries, including India, [Russia](/news/article/putins-blockchain-payment-system), [Iran](/news/article/iran-accepting-crypto-payments), the UK, and others, are working on their virtual fiat currencies. Therefore, the digital currency of the UAE can be a significant step toward a transformation in the country's financial system.


Yellow image of UAE flag in front of Dubai skyline

UAE CBDC to Complete First Phase by 2024 

Terraform Labs CEO and co-founder Do Kwon [has been arrested in Montenegro](/news/article/do-kwon-hiding-in-serbia). He oversaw the multi-billion dollar collapse of the TerraUSD-LUNA ecosystem and has been [charged with fraud](/news/article/terraform-labs-accused-of-fraud-by-sec) by US prosecutors.

## Do Kwon arrested: Series of events

In early 2023, Do Kwon and Terraform Labs [were accused of](/news/article/do-kwon-red-notice) "orchestrating a multi-billion dollar crypto asset securities fraud", with eight charges announced against him by US prosecutors.

He was arrested on 23 March in Montenegro, travelling under a false name and in possession of fake documents. South Korean authorities released a separate arrest warrant for him in September 2022. They were at the scene to confirm his identity through official fingerprint records.

## Do Kwon arrested: Why did the TerraUSD-LUNA ecosystem collapse?

The Terra ecosystem was created in 2018 by Terraform Labs and is largely known for its decentralised algorithmic stablecoin, TerraUSD (USD), and reserve asset cryptocurrency, Luna (LUNA). The (now defunct) algorithmic stablecoin system is simple to understand:

•	1 UST = $1 LUNA.

•	If UST<$1, burn UST and mint LUNA. Burning will raise UST's price.

•	If UST>$1, burn LUNA and mint UST. Minting will decrease UST's price.

What [made this system a Ponzi scheme](/news/article/terra-luna-collapse) was the unsustainable interest rate of nearly 20% offered upon staking UST on the Anchor Protocol.

## The system was built to fail.

Upon shifting from a fixed interest model to a dynamic one, UST began its downfall on 7 May, 2022, when a UST whale sold an enormous amount of the stablecoin.

To compensate for the de-pegging of UST, mass burning of the stablecoin began, leading to a surplus of LUNA on the open market. Both cryptocurrencies collapsed and more than $40B in UST-LUNA market value was wiped out. Even a $3.5B Bitcoin reserve fund failed to control the downslide of the value of both crypto tokens.

In a nutshell, the model was based on minting an endless supply of LUNA to maintain UST at $1 and keep investors happy with an unsustainable interest rate model.

It should be noted that Do Kwon and the algorithmic stablecoin system were called out by a renowned economist Frances Coppola well before all this unravelled. Do Kwon mocked her publicly.

![dokwon.png](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/dokwon_f0af2d76e8.png)
 
Source: [Twitter (@stablekwon)](https://twitter.com/stablekwon/status/1410491186196795398?s=20)

I hope that [Do Kwon’s arrest is one step](/news/article/do-kwon-terra) towards a safer and better crypto space for all.


do kwon beind bars in montenegro with red filter

Terraform Labs CEO Do Kwon Arrested

US regulators have accused eight well-known personalities, such as Lindsay Lohan and Jake Paul, of engaging in an illicit cryptocurrency scheme. The charges claim that these celebrities used their social media presence to enhance the value of two [crypto](/news/article/cryptocurrency-news-predictions) tokens without disclosing that they received payment for promoting them.

The US Securities and Exchange Commission (SEC) [officially announced](https://www.sec.gov/news/press-release/2023-59) the charges on Wednesday.
The SEC claims celebrities used social media to share their cryptocurrency promotional messages.

## Lindsay Lohan Charges

On February 11, 2021, Lindsay Lohan, who has more than 8 million Twitter followers, tweeted that she was already liking Justin Sun's cryptocurrencies, which included $TRX.

In the tweet, she praised the currencies' super-fast speed and lack of fees while commending Justin Sun. In March 2021, she [advertised](https://twitter.com/lindsaylohan/status/1377647992639954945?s=20) an auction for an [NFT](/news/article/nft-tax-uk-rules-explored) of one of her songs and tweeted about it on April 1, 2021, saying there were just over 9 hours left to bid.

SEC Chair Gary Gensler stated that the Lindsay Lohan charges and associated cases highlighted the significant risks investors are exposed to when crypto asset securities are marketed and sold without adequate disclosure.

## Other celebrities charged with illegally promoting crypto assets

Charges have been brought against several famous individuals, including musician Soulja Boy (real name DeAndre Cortez Way), aged 32; singer Austin Mahone, aged 26; porn actress Michele Mason (better known as Kendra Lust), aged 44; musician Ne-Yo (real name Shaffer Smith), aged 43; rapper Lil Yachty (real name Miles Parks McCollum), aged 25, and Senegalese-American singer Akon (real name Aliaune Thiam), aged 49.

According to the [SEC](/news/article/looming-coinbase-sec-probe-upsets-coin-price), they are accused of illegally promoting TRX and [BTT](/news/article/btt-crypto-price) crypto assets without disclosing their compensation.

Additionally, crypto investor and Grenada diplomat Justin Sun is accused of fraud for manipulating the trading activity of the two tokens to make it appear as if they were being actively traded. This practice is known as "wash trading".

Except for Mr. Cortez Way, Akon, and Mr. Mahone, all the celebrities, including Lindsay Lohan, have collectively paid over $400,000 to resolve the charges.


red image of crypto coins with celebrities Lindsey Lohan, Jake Paul, Ne-Yo and Akon standing in foreground

Lindsay Lohan Faces Charges from SEC 

A [threat](https://www.coinbase.com/blog/we-asked-the-sec-for-reasonable-crypto-rules-for-americans-we-got-legal) by the US Securities and Exchange Commission (SEC) to sue Coinbase Inc. has seen the Coinbase share price drop nearly 15% to $67.33 following extended hours of trading. The [Wells Notice](https://www.law.cornell.edu/wex/wells_notice) by SEC is a formal declaration that the US watchdog aims to recommend an enforcement action.

Market data shows the Coinbase share price closed at $77.14 during the typical trading session, having shed some 8.16% of its value. Nonetheless, COIN, the platform's native coin, dropped 15.8% of its value in the after-hours and closed the day at $64.95. The Coinbase stock has lost a cumulative 57% of its value over the last year. 

## Coinbase SEC probe targets essential products

The regulator has been [intensifying its efforts](/news/article/sec-crypto-enforcement-warning) to try and clean up the largely unregulated crypto market following the implosion of cryptocurrency exchange FTX late last year. 

According to the firm, the Coinbase SEC probe targets some of its essential products, such as the spot market, EARN, Prime and Wallet products, and staking, which has already been under scrutiny.

The SEC has previously trained its guns on [staking](/news/article/what-is-staking-crypto), a process through which cryptocurrency holders use their crypto holdings to stabilize platforms. They validate the blockchain transactions and receive eye-popping yields in return.

The regulator forced cryptocurrency exchange [Kraken](https://www.sec.gov/news/press-release/2023-25) to [wind up its cryptocurrency staking program](/news/article/crypto-tumbles-as-kraken-suspends-staking) last month, forcing the platform to part with $30 million in penalties for 'failing to register the program'. The SEC has already charged Chinese crypto enthusiast Justin Sun and several celebrities with illegally promoting crypto assets.

## A precursor for extra enforcement by the SEC

Per the SEC's allegations, staking, which involves the pooling of crypto resources, creates investment contracts and therefore qualifies as a security under the US Supreme Court case [SEC vs. Howey](https://www.investopedia.com/terms/h/howey-test.asp). The regulator opines that cryptocurrency exchanges violate the country's securities laws by offering such programs to investors.

The looming Coinbase SEC probe targeting products the regulator considers securities means that platforms offering staking as a service will be forced to restructure their programs to comply with the securities law or halt them altogether.

Staking service providers, most of which are cryptocurrency exchanges, must now wake up to the fact that the SEC is increasingly indicating that it considers most pooled staking programs as securities. For the larger crypto sphere, the regulator's actions should be seen as a precursor for extra enforcement by the SEC into the industry.


red image of coinbase website and coinbase coins with red filter

Looming Coinbase SEC Probe Upsets COIN Price 

MyLiquidityPartner is a rewards token that relies on liquidity pools. Liquidity providers contribute crypto assets like ETH/USDC/BTC to their liquidity pools to support trading. Here's our review.

A liquidity pool is a group of cryptocurrencies that gather fees from trading activities. These pools are created through smart contracts that secure and lock the tokens for decentralised exchanges (DEX) trading. [Decentralised finance](/news/article/instrumental-finance-defi) (DeFi) platforms commonly use automated market makers (AMMs) to facilitate trades, allowing digital assets to be traded automatically using liquidity pools instead of the traditional buyer-seller markets.

## How could liquidity partners earn? 

Partners can earn up to 2.5% each week based on the value of funds they contribute to the pool. The firm reduces the risk for its partners by allocating matched coins. The platform absorbs all the permanent risks associated with pool management, so the individual partner doesn't bear any risk. The Total Value Locked (TVL) is currently $350M and steadily increasing. The 24H trading volume is over $50+M and is trending upwards. This presents a chance to earn $400K in fees from a single pool.

In addition to receiving weekly 2.5% payouts, partners can opt to re-stake their commissions. Re-staking involves using the weekly payouts to buy more assets, thereby increasing the total asset count in the pool. The MyLiquidityPartner pool is designed for hyper compounding, with returns of 117% APR & 218% APY.

In addition to weekly payouts, partners receive an MLP Token, a loyalty reward token for existing pool partners. The MLP Token serves as an appreciation gesture for their participation in the program. It allows those who cannot afford to join the pool to participate and enjoy the platform's rewards while having access to immediate cash flow. Token holders can choose to donate their tokens to the Ruby Family Foundation. This fully transparent blockchain-based foundation allocates 100% of its funds towards global outreach programs for mothers and children. By making donations of reward tokens to the foundation, partners can directly support its mission efforts.

## Trading and fees on the Uniswap platform

Trades on the [Uniswap](/news/article/uniswap-exchange-nft-aggregator) platform are executed between USDC and ETH. Transaction fees are charged whenever these trades occur, and liquidity providers earn a percentage of these fees as passive asset growth proportional to their pool contribution. 

Liquidity Partners receive a weekly partnership fee, which begins at 0.75%, on their [Ethereum](/news/article/ethereum-pow-price-prediction) (ETH), Bitcoin (BTC), Shiba (SHIB), Ape Coin (APE), and USDC. Partners can choose between receiving weekly payouts or the "Hyper-Compounding" option.

For those who want to participate in a larger yield pool, MyLiquidityPartner also operates a BTC pool. It has a minimum deposit of 1 BTC. Before contributing, each partner must complete a full KYC approval, and there is no lock-in period.

## MyLiquidityPartner review: The pros

It is a fully decentralised platform that has been gaining popularity lately. With a surge in market price, a project white paper readily available, and an active community of 13.2K on Twitter, it is not surprising that many investors are flocking to invest in this platform. The contract on Ethereum ensures that the platform is secure and transparent, while being listed on [coinmarketcap.com](https://coinmarketcap.com/) provides credibility to the forum. Moreover, the website is easy to navigate, which is a plus for investors looking to get started with the platform.

## MyLiquidityPartner review: The cons

This cryptocurrency is still in the research and development stage. There are multiple issues with its synchronisations between ledgers, which is a cause of concern. Moreover, it must be listed on some exchanges, making it difficult for investors to buy and trade. One of the significant drawbacks shown in a MyLiquidityPartner review is the lack of a GitHub profile, which is essential for transparency and community involvement. 

Additionally, the absence of a Reddit account and Bitcointalk thread further hinders its popularity and reach. Furthermore, there are no traceable features on Tradingview, making it challenging to analyse the coin's performance.

Overall, this MyLiquidityPartner review shows it has a long way to go in establishing itself as a reliable and trustworthy cryptocurrency.


blue image of my liquidity partner logo on blue background image of US dollars and cryptocurrency coins

MyLiquidityPartner Review: Pros and Cons 

Ben Armstrong, a crypto Youtuber, is facing legal scrutiny following allegations that he sent threatening messages to the lawyers leading a class action lawsuit against promoters of the [collapsed crypto exchange FTX](/news/article/is-crypto-dead). Armstrong, also known as "[BitBoy Crypto](/news/article/bitboy-crypto)," is among several FTX influencers facing a [$1B class-action lawsuit](https://cointelegraph.com/news/ftx-influencers-face-1-billion-class-action-lawsuit-over-alleged-crypto-fraud-promotion) for alleged [crypto fraud](/news/article/guo-wengui-accused-of-crypto-fraud) promotion.

The suit alleges that the influencers failed to disclose that they were paid to endorse FTX accounts to their substantial online following, which includes the BitBoy Crypto YouTube channel with 1.45 million subscribers.

## BitBoy crypto faces legal scrutiny over alleged threats

According to court documents [filed](https://www.courtlistener.com/docket/67017199/5/garrison-v-paffrath/) on 20 March, the lawyers heading the class action suit claim that Armstrong has been harassing one of the plaintiffs since the lawsuit was filed last week. They accuse him of making "endless phone calls, Tweets, and emails" to the plaintiff and posting "insulting and threatening posts" about him on social media.

Furthermore, in the court filing, the lawyers accused Armstrong of making 21 calls within 45 minutes from an unknown number to the lawyers' office and leaving a voicemail containing a warning that "First Amendment protesters" would surround the lawyer's house "24/7 day and night".

In another voicemail, he claimed that the "home addresses" of the "lawyers" were being circulated on Reddit.

The filing alleges that he also sent profanity-laced emails to Adam Moskowitz - one of the attorneys in the FTX class action suit - and a message warning him that he was "choosing war with an anonymous community while you yourself are not".

It also claims that BitBoy posted a YouTube [video](https://www.youtube.com/watch?v=dp1F5lJUBf4) on 16 March directed at lawyers and individuals who bought the lawsuit against him and warned them that he was "coming at them with full force".

In another alleged message to Moskowitz, Armstrong reportedly warned him that "these people are dangerous" and that they could result in "you and your family shot".

The filing also included an email that Armstrong allegedly sent to Moskowitz in which he referred to him as a "b*tch" and an "unbelievably dumb mother f*cker”.

![Picture 1.png](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/Picture_1_80ec6a5484.png)
  
## BitBoy Crypto's response to accusations

In a statement to Cointelegraph, BitBoy denied making calls, tweeting, or emailing the FTX class-action lawyers. Furthermore, in his video, he denied promoting [FTX](/news/article/ftx-funds-political-donations-to-be-recovered) and threatened Moskowitz with a countersuit.


red image of bitboy crypto youtuber holding his tweet about threatening lawyers

BitBoy Crypto Accused of Threatening Lawyers 

[Nigeria CBDC](https://cointelegraph.com/news/nigeria-cbdc-adoption-spikes-as-fiat-currency-shortage-grip-the-nation) adoption has been soaring over the past months due to millions of residents turning away from using the country's fiat currency in favour of the eNaira, multiple news outlets have reported.

The Central Bank of Nigeria has printed larger denominations of its currency to replace older banknotes as it fights rising inflation.

While this has been one of the many ways several developing economies, including West African counterparts like Ghana, have tried to reduce inflation and tackle rising economic challenges, most Nigerians feel that the current financial crisis provides the perfect opportunity for them to experiment with the country's central bank digital currency ([CBDC](/news/article/uk-sought-cbdc-head)). 

## Nigeria CBDC wallets usage has increased by 12-fold 

Wallets created for using the eNaira have increased 12-fold in the past five months, according to Godwin Emefiele, the Central Bank of Nigeria's governor.

The number of [CDBC](/news/article/russia-develop-cbdc-settlement) wallets currently stands at 13 million, up from around 1 million in October 2022.

According to a Bloomberg report, the eNaira transactions valuation has spiked by 63% to approximately 22 billion Naira (about [$47.7 million](https://www.bnnbloomberg.ca/nigeria-digital-currency-transactions-jump-63-on-cash-shortages-1.1898692)) since its introduction in October 2021. 

## More than 10 billion eNaira minted

According to Emefiele, the [CBDC](/news/article/central-bank-of-kazakhstan) has become the payment channel of choice for the execution of social interventions as well as financial inclusion. 

This is why the country's demonetization programme led to the minting of more than 10 billion eNaira while the circulating cash supply was reduced by 68.75% from 3.2 trillion nairas to 1 trillion nairas. 

## CBDCs continue to trend across the globe     
                      
As of 22 March, Nigeria joins China and the Bahamas as countries with real-world use cases of national digital currencies.

Other [sub-Saharan](https://www.imf.org/en/Blogs/Articles/2022/06/23/blog-africa-cbdc) countries like Ghana and South Africa are piloting an electronic version of their countries' fiat currencies, while Zambia, Namibia, Zimbabwe, Madagascar, Tanzania, Rwanda, Kenya, and Uganda are keenly embarking on research programmes.


Nigerian CBDC Naira in wallet in front of image of Nigeria

Nigeria CBDC Adoption Soars Amid Cash Shortage 

[Rocketpot](https://rocketpot.io/) is a licensed crypto casino that operates under the regulations of Curacao eGaming. It features a mobile and desktop-friendly platform for users to enjoy gambling activities.

The casino prioritizes the privacy and safety of its users. Players can use Bitcoin and other cryptocurrencies to play in the casino, ensuring safe and secure entertainment. Utilizing blockchain technology and Bitcoin, the casino provides advanced security methods and more opportunities for players to win jackpots and earn Bitcoin.

## Rocketpot - The online casino

Rocketpot casino is a leading provider of Bitcoin games, offering a vast selection of almost 3,000 slot games, more than 300 table games, and live casino games.

Players can win guaranteed prizes through a reward system as they explore the website and play more. On reaching level 500, players can even win more than 20 BTC and enjoy the best Bitcoin blackjack games, classic slots, and more.

With several slot games available, players can easily choose their favourites and start playing. The only main requirement for wagering is a cryptocurrency wallet followed by registration on the platform. 

The crypto casino offers several top-tier live dealer games, providing a unique and engaging gaming experience. With a commitment to dedicated customer support and accessible tools, RocketPot constantly updates its offerings to provide the best user experience. Players can even use different crypto coins to play their favourite games.

## User-friendly gaming experience 

Rocketpot casino provides a user-friendly interface, allowing players to enjoy a wide range of Bitcoin games. With a focus on responsible gambling, the casino offers games, such as jackpots, playable with various cryptocurrencies. Available on desktop, iOS, and Android devices, users can download the casino or play directly from their mobile browser, providing convenient access from any location.

The platform features a simple and easy-to-use UI, including two-factor authentication and multiple cryptocurrency options for in-game interactions and placing bets. With high-quality graphics, players can enhance their gameplay experience by accessing different functions and selecting fast-paced gaming options. Rocketpot casino is optimized for players seeking a seamless, enjoyable gaming experience.

## How to register with Rocketpot

Rocketpot casino offers a swift sign-up process for new users. Before registration, it's advisable to check the casino's wagering requirements and bonuses and be aware that the services may not be available in certain jurisdictions.

To sign up, visit the Rocketpot website and click the sign-up button. 

Customers can enjoy various games the casino offers after registering and depositing Bitcoins. The platform offers Bitcoin bonus rounds to players who deposit and play with Bitcoins through their accounts.

Compared to other crypto casinos, the registration process on Rocketpot is quick and doesn't require extensive verification procedures. It typically takes less than a minute to register and get started.

Users must provide basic personal information such as username and email address to complete the registration process. The e-casino ensures that every Bitcoin transaction is processed within 10 minutes so that users can start gambling without any delay.

## Payment method

Rocketpot offers a range of payment options to ensure inclusivity. As a cryptocurrency casino, it provides more extensive payment options for crypto users. However, fiat payment options are also available. The accepted cryptocurrencies are Bitcoin, Bitcoin Cash, Litecoin, [Ethereum](/news/article/ethereum-pow-price-prediction), Dogecoin, NEO, Tron, USD Coin, [Ripple](/news/article/sec-vs-ripple-news), Cardano, Binance Coin, and Tether USD.

For those without cryptocurrency, depositing on Rocketpot is simple. The third-party payment provider, UTORG, allows you to buy BTC, ETH, LTC, or TRON using USD. This fast and user-friendly process enables players to begin playing and potentially win quickly.

## Withdrawal method

The platform offers various withdrawal methods to its users. Players must click on the website's withdrawal tab to withdraw their cryptocurrency and select a coin. They should then enter their crypto wallet address and the desired withdrawal amount. A verification link is sent to the user, and upon clicking the link, the withdrawal is processed. Rocketpot applies a withdrawal fee deducted from the withdrawal amount. Players should ensure they check the withdrawal limits before initiating a withdrawal.

The processed withdrawal is sent to the user's wallet. The withdrawal fee for Bitcoin is 0.0006, with a minimum deposit fee of 0.001 BTC. Additionally, Rocketpot offers customers a daily 10% cashback reward for a certain period. For example, if a player loses $100, they will receive a return of 10% the following day.

## Casino game offerings

Rocketpot provides new users a demo mode to familiarize themselves with the various live games. Users can enjoy [Bitcoin](/news/article/bitcoin-bull-or-bubble-debate) slots and live dealer variants of table games, which offer a thrilling gaming experience with reduced wagering requirements. 

Below is the list of online casino games provided by Rocketpot:

### Slots

Players have access to a diverse array of slot machines. With more than 3,000 games available, 2,600 of them are dedicated to various types of slot games. The platform also offers crypto video slot machines, which can be conveniently accessed via the slot menu.

### Jackpot games 

The casino offers jackpot games that allow players to contribute a small portion of their wagers to a collective prize pool. Some popular jackpot games available include Mega Moolah Goddess, Cash Splash 5 Reel, and Major Millions. These games were developed by the renowned game developer MicroGaming and offer some of the biggest winning potential.

### Table games 

Rocketpot provides its users with an array of crypto table games, with separate tabs for roulette and blackjack games.

### Live casino

This platform offers a selection of high-quality live casino games powered by top software providers. It provides a wide range of games, with more than 700 options available through Evolution Gaming. Popular options include live blackjack, live roulette, live baccarat, and several live game shows, like Dream Catcher.

## Rocketpot Sports and esports betting 

### Sports betting

Sports enthusiasts can place their bets using Bitcoin or other preferred cryptocurrencies, which offers more advantages than other deposit methods in the casino. Transactions through these digital currencies are secure, fast, and safe, just like other top Bitcoin casinos, allowing users to deposit or withdraw funds within minutes. Users can head to the crypto sportsbook betting section to place a bet, deposit their preferred cryptocurrency with a few clicks, and start placing their wagers.

### Esports Bitcoin betting 

Rocketpot is a casino that allows users to place bets on its sportsbook if they excel in Rocket League, DOTA 2, FIFA, NBA 2K, or tennis. The casino also features esports Bitcoin betting, a wide variety of matches, and tournaments sure to pique users' interest.

### Bonuses and promotions

This online casino regularly introduces new promotions to keep long-term and new users engaged. Players can click on the bonus tab to learn about these offerings. For a limited time, the casino is providing a list of promotions, bonuses, and rewards that it currently offers. Below are the details of these limited-time offerings:

### BTC welcome bonus

This platform offers a BTC welcome bonus that doubles a user's first deposit. Additionally, players receive 10% cashback as bonus money and can earn other prizes upon starting their gameplay. The platform also provides instant withdrawals, allowing players to withdraw their winnings anytime.

### Super boosted monthly race

Each wager counts as one point on a leaderboard, with prizes paid out in Bitcoin. Additionally, users can receive 2,000 free spins.

Newcomers to Rocketpot can enjoy a range of bonuses, such as the Rocketpot casino gift card, welcome bonus, and deposit bonus. Adding an initial deposit can double their funds, allowing them to explore the various games offered on the platform. Additionally, players can benefit from 10% cash back on all their wagers.

Apart from these incentives, players can also receive a unique treasure chest with a guaranteed prize after clearing each level. In a nutshell, the platform offers an appealing gaming experience with numerous opportunities for users to win big.

### Affiliate program

Rocketpot offers an affiliate program enabling its users to invite their family and friends and earn up to 45% commission as an affiliate, making it the most lucrative compared to other cryptocurrency casinos. It supports 30 different types of cryptocurrency that offer minimal transaction fees and are user-friendly.

### Customer service

Customer service is a vital aspect of any casino, and Rocketpot casino prioritizes customer satisfaction by providing various contact options, including 24/7 live chat and email support. In addition, its mobile-friendly website ensures usability for a wider range of users, allowing them to enjoy the Rocketpot experience on almost any mobile device. The casino also offers language support for English, Spanish, Japanese, and German-speaking customers, with plans to add more options. The e-casino offers a hassle-free experience through live chat support, with friendly and informative representatives providing all the necessary answers.

## Is the platform safe?

Rocketpot is a legitimate online casino that provides an enjoyable gaming experience to its players. The casino has partnered with several well-known game providers in the iGaming industry, including Pragmatic Play, Evolution Gaming, Push Gaming, Microgaming, EvoPlay entertainment, and more. As of the writing time, there are zero complaints raised for the platform, adding to its credits of a legit e-casino. Its 2-factor authentication feature is ideal for keeping the user's information safe and secure. 

With more than 3,000 games available, players can use Bitcoin, Litecoin, Ethereum, Bitcoin Cash, or their preferred currency to bet and win. Therefore, Rocketpot is a top choice for anyone looking for a reliable and entertaining online casino.


Purple image of Rocketpot logo on purple background

Rocketpot Bitcoin Casino Review 

Bitsler is a gambling platform that offers casino, sports, and esports betting options. Established in November 2015, it is owned and operated by OYINE N.V. and registered in Curacao with license number 8048/JAZ. This multi-crypto casino platform aims to provide a simple and transparent online gambling experience.

It offers a wide selection of classic casino games from reputable providers such as Evolution, Big Time Gaming, Pragmatic Play, Playtech, and NetENT. In addition to its casino offerings, it has sports and esports betting options, allowing players to participate in various sports events worldwide.

The casino games available at Bitsler include live games, jackpot games, card and table games, and other provably fair games. This feature allows players to verify the fairness and randomness of the games. 

Bitsler is a [crypto-friendly](/news/article/crypto-friendly-banks-uk) platform that accepts payments in 20 different cryptocurrencies, including [Bitcoin](/news/article/bitcoin-fear-and-greed-index), Ethereum, Litecoin, Dogecoin, Bitcoin Cash, Stellar, and more.

## How to create a Bitsler account

Creating a Bitsler account is a straightforward process that can be completed quickly. To begin the process, players must visit the official website of [bitsler.com](https://www.bitsler.com/) and locate the green "register" tab in the top right corner of the landing page.

![bitsler.png](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/bitsler_3d8f87452c.png)
 
Upon clicking the "register" tab, players will be directed to a registration field that requires them to enter their email ID and date of birth. Alternatively, players can also register using their Google or Twitch accounts.

After entering the necessary information, players must click "Register" to proceed. A verification code is then sent to the provided email address. Players must enter the code to confirm their account.

The next step requires players to provide personal information, including their name, country of residence, gender, etc. While verification is not mandatory at Bitsler casino, the security team may require a full KYC process before customers can withdraw funds from their casino account.

## Payment methods

Bitsler is a casino that operates solely on cryptocurrencies, meaning it accepts deposits only in this form. There are no set minimum or maximum limits for depositing crypto coins, but gamers should take into account that there are minimum bets for each game and a minimum withdrawal amount.

Players may be eligible for instant deposit options depending on the cryptocurrency chosen. Usually, a deposit takes around 5 to 10 minutes to process, but this depends on the load on the blockchain.

The casino supports a range of cryptocurrencies for its users to make transactions. The list of supported cryptocurrencies includes Bitcoin (BTC), [Ethereum](/news/article/ethereum-shanghai-upgrade) (ETH), Litecoin (LTC), Bitcoin Cash (BCH), Bitcoin Cash SV (BSV), Ripple (XRP), Dogecoin (DOGE), Dash (DASH), ZCash (ZEC), Ethereum Classic (ETC), Neo (NEO), Bitcoin Gold (BTG), Stratis (STRAT), Komodo (KMD), Lisk (LSK), Digibyte (DGB), Quantum (QTUM), Waves (WAVES), Stellar (XLM), EOS (EOS), and TRON (TRX). This range of supported cryptocurrencies allows users to make transactions using the cryptocurrency they prefer.

## Customer service

Bitsler provides multiple ways for customers to access support. Customers can refer to the FAQ page for answers to common questions. Alternatively, they can utilize the live chat feature to speak with a live chat agent. Another option is to email support@bitsler.com, and the support team will aim to respond promptly. Lastly, customers can engage with the community chat by clicking on the blue chat box icon in the bottom right corner.

## Games 

Below is the wide range of games offered by Bitsler. 

### Slots

The platform provides a selection of more than 3,000 online slots that can be enjoyed with Bitcoin, Ethereum, and other cryptocurrencies accepted by the casino. The best crypto slots offer various giveaways and rewards from well-known game providers such as Pragmatic Play, Belatra, Mascot, Evolution Gaming, Evoplay Entertainment, and BGaming.

Players can easily sort the games alphabetically or in terms of popularity. Some of the favorite slots offered by Bitsler include Cara Y Cruz, Dream Catcher, Ice Mania, Money Train, Cash Patrol, Fruit Monaco, Mermaid's Baby, Elvis Frog In Vegas, Sweet Bonanza, Icy Fruits, Hot Sevens, and Big Bass Splash.

### Game shows

The casino offers 23 game shows provided by Playtech, Pragmatic, and Evolution. These shows feature various table games, including Lightning Roulette, Texas Casino Holdem, Deal Or No Deal, Lightning Dice, Quantum Roulette, and Live Spin A Win. Popular titles such as Crazy Time, Sweet Bonanza, Age Of The Gods, Dream Catcher, and Gonzo's Treasure Hunt are available. Many games feature live dealers on the screen, providing an authentic land-based casino experience.

### Table games

Bitsler, Playtech, and BGaming are the primary providers of 46 table games. These games include some of the most popular options such as Blackjack, Baccarat, Roulette, Video Poker, Jacks Or Better Poker, Three Card Poker, Buffalo Blitz, American Poker, Dice and Roll, Craps, Lightning Dice, Diamond Legend, Diamond Master, Joker Dice, Golden Joker Dice, 100 Spinning Dice, Keno, Darts, and several other crypto options.

### Provably fair games

Bitsler casino provides numerous provably fair games that utilize blockchain technology-based algorithms to ensure fairness, in contrast to the conventional RNG (random number generator) mechanism. Each game developed by Bitsler has its outcome verified for fairness. Some of the provably fair games offered by Bitsler include Keno, Twist, Plinko, Burn, Blast, Fruitsler, Roulette, Blackjack, Crypto Thugs, Flash Roulette, Baccarat, Hilo, Dice, Multicolour, and Dicey 7s. Playing these games allows players to avail themselves the daily promotions, win rewards, and instantly withdraw their winnings.

### Sports games

The Bitsler Sportsbook offers a platform for placing wagers on various sports events, ranging from soccer, beach volleyball, rugby, cricket, American football, athletics, Aussie rules, baseball, basketball, boxing, cycling, darts, e-soccer, Gaelic football, Gaelic hurling, golf, handball, ice hockey, MMA, rugby, tennis, and many more. It is possible to engage in sports betting at Bitsler in pre-match and in-play modes.

Each event has several betting options, competitive odds, visual representation, and statistics. Although live streaming is not currently available, it is expected to be introduced. The sportsbook section also offers a VIP Loyalty program, enabling users to rank up, earn chest rewards and rakeback, and be eligible to win prize pools of $35,000 per chest.

### Esports games 

Along with a wide range of sports betting options, the platform includes an impressive selection of esports promotions. The esports betting section offers a variety of popular games, such as Counter-Strike, Dota 2, Call Of Duty, League Of Legends, Starcraft II, Rainbow Six, Valourant, and Overwatch. In addition to these popular games, players can also enjoy placing bets on FIFA, NBA2K, Rocket League, and other games that are typically harder to find in esports betting markets.

One of the most impressive features of Bitsler casino is the ability to deposit Bitcoin and other cryptocurrencies, which allows for a seamless gaming experience in a crypto-friendly environment.

### Bonuses 

The casino provides its players with various bonuses and promotions. Players can find many types of bonuses, including casino promotions, sports promotions, and esports promotions. Additionally, the casino runs several contests and giveaways, enabling players to earn free money. 

### Registration bonus

New registrants are rewarded with a bonus amounting to 0.00000005 BTC upon sign-up. This may seem small, but it can be used to explore a range of provably fair games available on the platform.

### VIP program

Bitsler Casino has an excellent VIP program in which players can advance by wagering on various casino games. They can also win exciting chests and rakebacks with prizes worth $35,000. Players can gain XP by betting with any cryptocurrency of their choice on selected games and sports with odds greater than 1.4. different VIP levels, including bronze, silver, gold, platinum, and diamond, offering keys to open the chest. Rakeback percentages increase as players level up and can be claimed every two minutes.

### XP contests

Participants in the XP contest can earn XP and win promotion prizes by playing any eligible game with their preferred cryptocurrency. Depending on the contest, XP can be earned by placing a bet in specific currencies or games. The contest will determine the number of winners and the prize pool.

### Hourly Lottery

Bitsler Hourly Lottery promotion offers up to $100 lottery prizes for VIP players with Gold 5, Platinum, and Diamond VIP statuses. All they have to do is place a qualifying bet and submit the details of their bet to the Hourly Lottery. Players can only participate in eight of every 24 lotteries.

## Is the platform legit?

Bitsler casino is a popular online gambling platform that experts have extensively reviewed. One of the main concerns raised in such reviews is whether the website is legitimate. It is worth noting that Bitsler casino is a licensed and secure online casino that operates under the Curacao Government's jurisdiction. This makes it a legitimate platform to place bets and play casino games.

It is available in several countries worldwide, except for restricted regions such as the Netherlands, the US, Portugal, the UK, Sweden, Malta, and France. Apart from licensing, online [casino](/news/article/review-rollbit-exchange) operators employ various measures to ensure the platform is secure for their clients. For instance, Bitsler casino utilizes a standard two-factor authentication system to protect clients' data from unauthorized access. The 2-factor authentication feature can be activated from the account settings by manually putting a secret key or scanning the QR code.

The casino also uses advanced SSL encryption to safeguard clients' personal and financial information. This ensures that all data is encrypted and secure. Additionally, the platform promotes responsible gambling and uses provably fair games to ensure that game outcomes are random and fair.

Players who place bets and play games on Bitsler casino can rest assured that they will enjoy a seamless gambling experience. The website is secure and licensed and promotes responsible gambling, making it a trustworthy platform for online gambling.


bitsler casino logo on purple background image of hand holding globe

Bitsler Casino: Is the Gambling Legit?

Benjamin Roth, the Chief Investment Officer of [Auros](https://www.auros.global/), has revealed that the company has effectively resolved its liquidity problems arising from the bankruptcy of the crypto exchange FTX.

Following a significant debt restructuring, Auros was recently released from court-supervised provisional liquidation and obtained a fresh investment of $17 million.

Vivienne Court Trading, a traditional high-frequency trading firm, and Bit Digital (BTBT), a public bitcoin mining company, led this investment. Meanwhile, the [crypto trading](/news/article/how-does-crypto-trading-work) firm had to engage in months of behind-the-scenes efforts to keep its business afloat following the collapse of FTX, which caused significant losses for several trading firms in the crypto industry.

## Auros response to the liquidity crisis caused by FTX bankruptcy

The failure of [Sam Bankman-Fried's](/news/article/sam-bankman-fried-bail-co-signers-revealed) exchange to repay its customers caused concerns about a broader insolvency crisis in the cryptocurrency market.

As a result, lenders began recalling their outstanding loans to minimise possible losses. Auros, whose funds were mainly tied up in FTX, suddenly faced a liquidity crisis and could not repay its creditors. Rather than attempting to repay lenders, it filed for provisional liquidation with the British Virgin Islands (BVI) court to engage with its creditors.

With the BVI's assistance, the firm could restructure its outstanding debts, including converting open-term loans into termed loans with a maturity date. Auros also addressed its $18 million in [DeFi](/news/article/what-is-a-defi-token) loans by repaying 55% of its debt on the blockchain-based credit platform Maple and spreading the remainder across three-month and nine-month loans.

## Auros raises strategic funds to continue its operations

According to Roth, the company had plans to raise capital even before [FTX's collapse](/news/article/ftx-bankrupt-who-to-blame). However, the court's supervision made it more challenging to raise funds. In a statement, Marcel Klooss, co-founder of Vivienne Court, stated that the two companies have complementary skills and distinct characteristics that will create continuous synergies. The crypto firm, expanding its derivatives solutions business to offer yield and protection services to clients, will have [BitDigital](https://bit-digital.com/) as its second-largest investor and strategic partner.

The funding round also includes participation from Trovio, Primal Capital, Epoch Capital, and a group of senior and former traders from proprietary trading and market-making firm Optiver.

Marcel Klooss and Hughes Ching, co-founders of Vivienne Court and Bit Digital, respectively, will become members of the board of directors.


blue image of circuitboard with auros logo overlayed

Auros Resolves Liquidity With $17M Funding 

An adult entertainment platform, SpankChain, is closing down its [crypto payment](/news/article/layer-2-growth) system, SpankPay.

SpankChain is an Ethereum-based company that lost its payment service provider, Wyre, last month. Since then, it has failed to find an alternative. 

On 16 February, SpankPay [announced](https://twitter.com/SpankPay/status/1625950540105682944) that its crypto custodian and banking partner, Wyre, had terminated their agreement. The platform ceased to provide settlement services to SpankChain effective from 13 February. The service provider cited "violations of any third-party payment processor or network rules" for the termination of the agreement. 

## A “targeted shutdown” of SpankPay

On 20 March, SpankPay announced that it would shut down its operations. The platform disclosed in a [Twitter thread](https://twitter.com/SpankPay/status/1637895544373739520) that it was a “targeted shutdown by Wyre". The settlement processor revealed that its crypto custodian's new money-transferring system "doesn't work with adult businesses".

According to SpankPay’s tweet, its previous crypto payment partner did not disclose this. The tweet said the move was "a shock" as the relationship with Wyre had been "supportive and respectful up until now".

Since the termination of the agreement in mid-February, the finance system has been looking for new payment processors. However, its efforts have been in vain as no other service providers agreed to collaborate.

According to SpankPay’s statement, most options it explored refused to work with it because of its affiliation with the adult entertainment industry.

Furthermore, it referred to the "hostile banking environment" for closing down operations. The Twitter thread said that operating in a hostile banking environment had "always been challenging", but that "escalating attacks have become untenable".

However, it has ensured users that their funds will be safe with the service.

SpankChain is an adult content platform based on the [Ethereum blockchain](/news/article/ethereum-price-today-fall). It offered adult content creators a platform where they could operate with dealing with traditional banks. The platform introduced its own settlement system to facilitate its audience.


red image of person closing business with spankpay logo

SpankPay Crypto Payment Service Shuts Down

If you're considering making money from your crypto holdings in 2023 and beyond, this guide discusses Raydium staking and shows you how to make money from it.  

There are different ways to make a fortune from the burgeoning cryptocurrency market. Most people have only heard about buying and HODLing crypto traditionally while waiting for prices to improve, but staking to earn passive income on idle cryptocurrencies in an ingenious method.

## What is Raydium?

[Raydium](https://raydium.io/) is a decentralized automated market maker (AMM) built on the Solana blockchain. It draws its liquidity from the Serum decentralized exchange (DEX). The platform facilitates trading digital currencies, like cryptos, via liquidity pools, which remain a significant feature in the Decentralized Finance (DeFi) circles.

Liquidity pools are made of individuals (liquidity providers) who lock their crypto in a smart contract to be used as trading pairs in markets for traders on the DEXs. An AMM protocol guarantees liquidity in a digital market, such as a cryptocurrency exchange. AMMs are designed to set asset sales and purchase prices automatically and are primarily used in predictive markets. 

As an AMM, Raydium plays two fundamental roles. Apart from providing access to Serum’s order book, its algorithm is based on CFAMM (constant function automated market maker), a continuous function whose architecture is anchored within Solana and Serum.

## What is RAY and how does it work?

RAY is the native token of the Raydium ecosystem. It was launched on 21 February, 2021, with an initial supply capped at 555 million tokens. The RAY development team apportioned and locked up 20% of the supply that couldn't be sold for three years. One-third of the total RAY token supply (188 million tokens) is available for mining, and it's estimated that block rewards will be halved every six months. In the same vein, 0.03% of transaction fees earned on the platform are reserved for Raydium staking rewards.   

## What can RAY tokens be used for?

Holders of the RAY token can generate interest, totaling up to 0.03% of the platform's total trading fees, via Raydium staking, besides getting some limited rights to intervene partially in the protocol's governance. RAY holders can also vote for proposals on amendments and issues submitted to the community. The size of a user's voting power is determined by the amount of RAY tokens they own. You can buy RAY from numerous leading cryptocurrency exchanges where it's listed or directly from the Raydium website.

## What is Raydium staking?

[Staking in crypto](/news/article/what-is-staking-crypto) is a process similar to the mining function. Participants are selected to add blocks and establish the validity of transactions for which they get rewarded in crypto. While the exact implementation may differ for different projects, participants lock in their tokens for a specified period to guarantee that they will act in good faith and not violate the rules.  
  
If you're a long-term crypto holder, Raydium staking can work for you by generating passive income instead of you letting your digital assets gather dust in your wallet.

Moreover, staking contributes to the security of the Raydium protocol, making it resistant to attacks as you strengthen its transaction processing ability. Staking Raydium in its farms of fusion pools also enables you to earn more RAY tokens. Currently, stakers can make an annual percentage return (APR) for staking RAY at [9.84%](https://raydium.io/staking).

## How to stake RAY 

Raydium staking is a straightforward process that takes three simple steps:

1.	Select your favorite crypto exchange.

2.	Buy RAY tokens or transfer your coins to your [crypto wallet](/news/article/cryptocurrency-hardware-wallet).

3.	Stake, and wait to start earning.

You can also stake directly on the Raydium website by clicking the STAKE tab and confirming the transaction.

Your RAY token rewards will grow depending on the current APR against the RAY vault. You can collect your accrued rewards at intervals. At this point, you withdraw your original staked amount plus the earned rewards.

## Is staking Raydium a good investment? 

Since the character of cryptocurrency experiences a wavelike motion, there's every chance that the price of RAY can appreciate and get to an all-time high as the crypto winter thaws. Should the price of Raydium increase, it could generate good returns, giving Raydium staking a good long-term earning potential.


green image of Raydium crypto token logo with periodic table in the background

Raydium Staking: Earn Crypto Rewards Easily 

A week after [Signature Bank closed](/news/article/why-signature-bank-fell-so-fast), Flagstar Bank, a New York Community Bank subsidiary, has agreed to purchase a huge chunk of the failed institution in a $2.7 billion deal.

According to the Federal Deposit Insurance Corporation (FDIC), all of Signature Bank's 40 branches will operate as Flagstar Bank beginning Monday. Customers won't need to make any changes to conduct business with the new bank. 

## Flagstar bid excluded $4 billion crypto deposits

FDIC's 19 March [press statement](https://www.fdic.gov/news/press-releases/2023/pr23021.html) didn’t address the fate of the much larger [Silicon Valley Bank](/news/article/silicon-valley-bank-uk-to-be-bought-by-hsbc) (SVB) that the regulator took over two days before taking over Signature Bank.

The takeover deal includes purchasing Signature Bank's assets worth $38.4bn. SVB had $209 billion in assets compared to Signature Bank's $110.36 billion.

Per the announcement, the Flagstar takeover bid, which includes a $60 billion loan portfolio, excluded $4 billion associated with Signature's crypto banking business. Accordingly, crypto deposits will remain with the agency in receivership, and FDIC will provide [them directly to the customers](https://twitter.com/nic__carter/status/1637609420929597440) concerned.

The shutting down of Signature Bank came hot on the heels of the fall of the crypto-friendly [Silvergate Capital](/news/article/silvergate-bank-crisis-sees-crypto-tank) earlier in March and the 12 March closure of SVB, which previously caused [Circle’s](/news/article/circle-usdc) USDC to stumble and lose its peg to the US dollar. Commenting during a previous press interview, Circle's Chief Strategy Officer [Dante Disparte](https://forkast.news/video-audio/circles-disparte-crypto-banking-risks/) opined that the ongoing fallout was a stress test for traditional finance and emerging cryptocurrencies, presenting an opportunity for them to "weather the storm side by side".

## Traditional banks introducing risk to the crypto space

The unwillingness of Flagstar Bank to take over all of Signature Bank's assets, including the crypto-related ones, indicates that banks are becoming wary of taking on risk due to the spreading banking crisis.

The ongoing banking failures demonstrate that, contrary to what everyone else might have thought, traditional banks are now introducing risk to the crypto space. The current state of affairs is the opposite of the "travel risk" regulators routinely offered to would-be crypto investors on the risk that crypto would introduce to banking.

The back-to-back failure of Silicon Valley Bank and Signature sparked a nationwide fear that it could kick off a more significant crisis of confidence within the US banking system.

FDIC is looking to step in and save the situation by brokering sales to pay back the failed banks' depositors to more vital financial institutions.


Flagstar to Buy Signature's Non-Crypto Assets 

[ShadowSwap](https://shadowswap.xyz/) decentralised exchange (DEX), a protocol built on Core Blockchain, has announced the launch of an Initial Farm Offering (IFO) model to maximise community engagement and strengthen the Core ecosystem.

The IFO model features the iSHDW initiative, thereby permitting users to commit the DEX ecosystem’s native token, SHDW, to take part in upcoming IFOs on the ShadowPad launchpad.

## What is the ShadowSwap IFO model and how does it work?

The ShadowSwap IFO model promotes the stability of SHDW through the iSHDW mechanism and provides pre-launch support (in the form of IFOs) to projects launching on Core via the ShadowPad.

The iSHDW mechanism is relatively easy to understand. iSHDW works in the form of credits. For example, 1,000 iSHDW enables you to commit 1,000 SHDW in upcoming IFOs on ShadowPad.

It should be noted that iSHDW is not a new token. Rather it is a mechanism to determine the maximum amount of SHDW a user can commit to the IFO system. You can obtain iSHDW by [staking SHDW in Shadow Pools](/news/article/best-crypto-staking-platform). The longer the staking duration, the more iSHDW will be allocated to you.

The lock duration threshold is set for six weeks. This basically means that you will not receive the full iSHDW allocation if you stake SHDW for a period below six weeks. You will receive the full allocation if you stake the cryptocurrency for a lock period meeting or surpassing the threshold.

This, of course, will come with the [passive income you earn](/news/article/metamining-earning-passive-income-from-bitcoin) through staking in Shadow Pools. This move will improve the stability of SHDW, as users will stake the crypto token to receive maximum iSHDW allocation and participate in IFOs. ShadowSwap has also launched token vesting.

According to a [tweet](https://twitter.com/Shadowswap_xyz/status/1636997687185637376?s=20) published by the DEX on 18 March, the token vesting feature "gradually releases tokens, boosting IFO allocation for users and avoiding supply shocks on project launching as we have seen across all IFOs/IDOs done on Core".

These moves will lead to healthier project launches on Core and encourage solid community building and engagement. It is likely that large IFO raises will take place, encouraging developers to build on Core and launch via the ShadowPad.
 
![shadowswap.png](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/shadowswap_50f9a526e7.png)

Source: [Twitter (arewa_crypto)](https://twitter.com/arewa_crypto/status/1637002146657845250?s=20)

Overall, the move seems to be a solid one, with ShadowSwap promising a Twitter user that a "special Q&A" session will be conducted for further details into the IFO model.


pink image of shadowswap icon and pile of NFTs

ShadowSwap Launches IFO Model to Enhance Core 

We have compiled this list of the top alternatives to Trading 212, suiting customers looking for a trading platform with similar features. 

These alternatives will also suit customers seeking a missing tool not currently found on Trading 212. 

## Why should traders choose Trading 212?

[Trading 212](https://sortter.com/trading-212/) is a well-known trading platform that offers several tools for stock research and trade execution. The programme allows users to trade exchange-traded assets such as fractional shares and CFDs on 29 commodities, 36 indices, 1,536 stocks, and 184 currency pairings. Users may invest in stocks, exchange-traded funds (ETFs), foreign currencies, and commodities without commissions.

Negative Balance Protection is a significant feature of the Trading 212 app. When users place a deal that does not fulfil the standards, their account will always stay above zero despite their negligence. This function can reduce their profit loss when deals do not go as anticipated, making it one of the most powerful tools accessible to traders.

The app is intended to give customers easy access to all their data in one location. The UI is straightforward, making it suitable for traders of all skill levels. Any device, including tablets and desktops, may view users' open opportunities. Skilled traders who want additional alternatives will also appreciate the ability to establish price alerts to receive notifications when certain prices hit specified thresholds.

The Trading 212 mobile app offers a wealth of educational resources and notifications to assist customers in trading their path to financial freedom. They seek to raise the standard of customer service by providing helpful video lessons, instructional resources, and educational programmes to assist customers in learning the characteristics of successful traders in the sector.

Nevertheless, there are several difficulties that the app has yet to address, and they are as follows:

There are limited ETFs to consider investing in, automatically lending customer shares and high currency conversion fees. 

Trading 212 is also unavailable in the US or Canada, so if customers reside in any of these countries, they should hunt for alternatives to Trading 212.

## How to open a Trading 212 account 

The Trading 212 mobile app provides a convenient, safe, and secure environment for traders to engage with one another. Traders may deposit cash, trade, generate income, and speak freely with one another to improve their stock trading skills.

1.	Users must initially register with the app by entering their email address, nationality, birth date, and other information.

2.	Consumers may be required to supply bank statements, tax information, or a tax ID.

3.	Customers must first choose a base currency and an account type, such as an ISA, CFD, or investment account.

4.	Trading 212 will ask users about key information they wish to store in a database, such as their financial condition and trading experience.

5.	Consumers will then agree to the app's terms and conditions and authenticate their account using residency or identification verification.

6.	Creating and validating an account might take two to three business days.

## Things to consider when looking for alternatives to Trading 212

Compatibility: Users must select a Trading 212 alternative with features and trading costs that suit their needs and investing approach.

Fees: While looking for an alternative, clients should consider the costs they may be paying. Trading 212 does not charge a commission cost; thus, an ideal option would set zero or a very modest commission price.

Security - Security is a crucial factor to consider while searching for alternatives. Always investigate each agent's security methods and policies. Always ensure that your broker's security processes and procedures satisfy the basic levels set by authorities such as the Financial Conduct Authority ([FCA](https://www.handbook.fca.org.uk/handbook/MAR/5/3.html)).

## Top broker alternatives to Trading 212

1.	IG Broker
The IG Group is the world's largest CFD [broker](/news/article/sam-bankman-fried-bail-co-signers-revealed). It provides various goods and services, including FX and currency, shares, indices, and others.

Consumers can trade using their computers or mobile devices. Yet, because all of IG's applications are integrated, installing software on your mobile device is unnecessary. The platform can also obtain real-time market data, making it faster, simpler, and safer than nearly every available app.

[Trading 212](https://sortter.com/blog/article/trading-212-app/), on the other hand, has an excellent app. IG offers cheaper costs and provides fee-free bitcoin withdrawal options. After two years, there is an inactivity fee assessment. The FX and stock CFD costs, on the other hand, are rather hefty.

2.	XTB
XTB provides diverse [trading](/news/article/cudos-funding-over-10-million) circumstances, including Forex CFDs, CFD, and CFD futures markets. Exchanges are offered in the US, Europe, the UK, and 108 other nations worldwide.

It is easy to create an account on the site and begin immediately after finishing the registration procedure. Deposit funds with a Visa or MasterCard credit card; alternatively, there are various wire transfer methods from your bank account.

One disadvantage of using this broker is that it charges an inactivity fee.

3.	[eToro](/news/article/etoro-fees)
eToro is an excellent alternative for Trading 212. The broker offers zero-commission stock trading. The site includes several new features, like social trading and a cryptocurrency platform. The account opening process is quick and easy. Yet, there are some disadvantages. There is a $5 withdrawal charge, and eToro only accepts USD accounts, so conversion expenses on deposits and withdrawals might be significant if your funding currency is not US dollars.

The following traders will benefit from the broker's mobile app: Individuals seeking a zero-commission platform, Multi-asset traders (those who wish to trade many assets simultaneously), and Newbies looking to make their first stock trade.

4.	[Capital.com](http://capital.com/)
Capital.com provides an excellent account opening experience and a diverse choice of capital markets products, including cheap FX CFD costs and commission-free actual stocks, as well as high stock index CFD fees for Capital.com clients. To trade on Capital.com, customers must make a minimum deposit of $20 to start an account. Withdrawals are free as long as no slippage penalties are applied.

Compared to Trading 212, all of these brokers are considered viable trading options. They offer appealing features, and most consumers are pleased with their experience. When moving assets, users should conduct studies and select the best alternative.


blue image of trading212 app on phone and trading statistics

Alternatives to Trading 212 

On Wednesday, the US DOJ (Department of Justice) and the Securities and Exchange Commission (SEC) reported that Guo Wengui, a Chinese billionaire living in exile, was detained in New York for supposedly planning a fraud scheme worth more than $1 billion which involved cryptocurrency.

Guo, also known as Miles Guo and Ho Wan Kwok, or "Brother Seven," has been accused of committing 12 counts of wire fraud, securities [fraud](/news/article/terraform-labs-accused-of-fraud-by-sec), bank fraud, and money laundering. The DOJ stated that he allegedly used false statements and representations to persuade hundreds of thousands of his online followers to invest in various entities, resulting in more than $262 million in victim funds being obtained through the Himalaya Exchange, a supposed [cryptocurrency](/news/article/what-is-future-of-cryptocurrency) ecosystem.

The DOJ disclosed that it had seized around $634 million from 21 bank accounts linked to the alleged fraud.

The DOJ also [stated](https://www.justice.gov/usao-sdny/pr/ho-wan-kwok-aka-miles-guo-arrested-orchestrating-over-1-billion-dollar-fraud-conspiracy) that Guo Wengui is accused of making false statements and offering his investors inflated returns in exchange for supporting various ventures, including GTV Media Group Inc. In addition, Guo has been charged by the SEC for participating in unregistered and deceitful offerings that garnered more than $850 million.

## Bail Denied for Guo Wengui

According to the SEC, an investment scheme that employed cryptocurrency security called "H-Coin" or "Himalaya Coin" deceptively collected hundreds of millions of dollars from investors.

The project falsely stated that 20% of the coin's value was supported by gold and that the issuer would compensate investors in the event of any losses. According to Gurbir S. Grewal, the director of the SEC's enforcement division, the issuer, Guo, capitalized on the hype and appeal of cryptocurrency and other investments to victimize thousands and fund his and his family's luxurious lifestyle.

On Wednesday, the SEC made this statement, and CNN reported that Guo was denied bail at a hearing held the same day.

US Attorney Damian Williams claimed that Guo had committed the crime of profiting from embezzled money. Williams specifically mentioned that Guo had used the [stolen funds](https://twitter.com/SDNYnews/status/1636013342962712577?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1636013342962712577%7Ctwgr%5E5aa49442bd1adc0405714d5fc3a9c0868d934968%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fforkast.news%2Fheadlines%2Fus-accuses-exiled-chinese-tycoon-guo-wengui-of-1-billion-crypto-linked-fraud%2F) to buy a 50,000 square-foot mansion in New Jersey for himself and his close relatives, as well as a Ferrari valued at $3.5 million, two mattresses worth $36,000 each, and a lavish yacht that cost a whopping $37 million.


red backgound of money with guo wengui and a white dog

Guo Wengui Accused of $1 Billion Crypto Fraud 

The founder of the Bitzlato crypto exchange, Anatoly Legkodymov, has denied money laundering charges against him in a US court.
He is accused of processing more than $700 million through his firm. Relating to these charges, he was arrested on 17 January in Miami.  

## First court appearance for Bitzlato crypto firm founder

The proceedings of a money laundering case against Legkodymov are ongoing in the federal court of New York. He appeared before the court for the first time on 14 March, 2023, when he denied all the fraud charges.

The court has ordered the detention of Legkodymov without bail for the charges of illegally processing money. The Federal Bureau of Investigation ([FBI](https://www.fbi.gov/investigate)) was involved in arresting the crypto exchange founder. 

## Allegations involve $700 million

Allegedly, the founder of Bitzlato is a Russian national and a resident of China. The FBI detained him for his alleged involvement in illegal money transfers through the exchange.

He is accused of managing a Hong Kong-based cryptocurrency firm and did not ensure [anti-money laundering](/news/article/crypto-aml) measures were followed.

According to reports, the business [allegedly processed](/news/article/bitzlato-co-founder-charged-with-money-laundering) around $700 million of illegal funds. The illicit funds are related to numerous crimes like drug trafficking and ransomware. 

Bitzlato may also have ties with the darknet market called Hydra, according to further reports. Moreover, another member of [a crypto pyramid scheme related to Russia](https://news.bitcoin.com/another-member-of-russian-crypto-pyramid-finiko-arrested-in-uae/) was arrested in the UAE.  

## Accusations against other members of Bitzlato

More crypto exchange members were also detained in late January. Three members of the executive body were arrested in Europe.

The firm's co-founder, Anton Shkurenko, was also involved in the investigations. In February, he was interrogated by the Russian authorities, but later released. He has also given an interview recently where he mentioned that he would be restoring operations of the firm from Russia.


Anatoly Legkodymov founder of bitzlato with red image of court

Bitzlato Crypto Exchange Founder Denies Charges 