## How UK users can fund their Binance account

### Step 1: Register an account

UK Users can register for a Binance account with their email or phone number from the  App,  website, or desktop app.

### Step 2: Complete verification

UK users can complete [identity verification](https://www.binance.com/en/support/faq/360027287111) on their Binance account to unlock the Fiat deposit and withdrawal limits, which includes verifying their basic account information, providing ID documentation, and uploading a picture.

### Step 3: Buy crypto

## Deposit Fiat 

Users can deposit up to 50+ Fiat currencies, such as EUR, BRL, and AUD, to their Binance UK account using bank transfer and bank cards. Once deposited, they can use them to buy crypto directly.

## Buy crypto using a debit/credit card

Users can also buy crypto directly using their credit/debit card on the Binance website or the lite mode on the Binance app.

## Buy crypto via P2P

Users can also go to the [Binance P2P](https://www.binance.com/en/support/faq/360043832851) page, select "buy crypto", and click "P2P trading" on the top navigation.

Investors can select the currency they want to buy. They can also filter the price and the "payment" in the drop-down, select an ad, and then click "buy".

Investors must enter the amount or quantity they want and click "buy."

The payment method and amount confirmations are on the order details page.

Investors must complete their fiat transactions within the payment time limit. Then click "transferred, next" and "confirm".

Once the cryptocurrency is released and the transaction completed. Users can click "transfer to spot wallet" to transfer the digital assets to their spot wallet.

Users can also click "check my account" above the button to view the digital asset they just bought.

Make a deposit or transfer crypto from the existing wallet

Users can log in to the Binance UK account and click wallet-overview 

Users then click deposit and see a pop-up window with the following options. 

1) Make a crypto deposit
2) Make a Fiat deposit

If users choose the crypto deposit option, they can select between [BTC](/coins/btc), ETH, USDT, BNB and EOS.

Next, investors choose the deposit network; however, users must ensure the selected network is the same as the platform they are withdrawing from to avoid losing funds.

Users can select BNB, BSC, ETH, SOL, and TRX.

Users must click to copy their Binance UK wallet's deposit address and paste it to the address field on the platform that they intend to withdraw crypto.

The transaction can take time to approve, depending on the blockchain and its current network traffic.

Funds are credited to the user's Binance account right after.

### Step 5: Explore Binance UK products

## Spot trading

Users can trade hundreds of cryptocurrencies in the spot market, including BNB. As well as develop tokens on the Binance smart chain.

Be warned, Binance is cheap to buy but could cost you your coins

As a last word of caution, be weary of keeping your crypto in Binances hot storage wallet, as, they have been known to be hacked and for suspending withdrawals to UK customers. 

What’s more, as they operate in an unregulated industry there is limited to no accountability and guardrails. Binance recently halted Bitcoin withdrawals, citing technical difficulties. According to a tweet, the platform momentarily suspended bitcoin withdrawals early on Monday, June 13, 2022, due to a stalled transaction producing a backlog. 

It may be cost effective to buy your crypto currency on Binance and transfer it to a cold storage wallet such as a Ledger. Consider transaction costs (network fee’s) to transfer coins out from the Binance and understand the risks of buying and holding your coins on the platform.


Guide to the Binance platform for UK users

One of the largest asset management companies [Blackrock Inc](https://www.blackrock.com/corporate). has recently entered the crypto market. It has introduced a private trust that allows its institutional clients in the US to get exposure to spot Bitcoin. Moreover, the news about Blackrock investing in [Bitcoin](/coins/btc) came through after [partnering up with Coinbase](/news/article/blackrock-crypto) for crypto custody and trading services. 

## Blackrock investing proves beneficial for Bitcoin

Blackrock investing in the crypto market has been quite constructive for Bitcoin. On 11 August, its price reached almost $25,000. Though its price has slid to $23,987, the move has boosted investors’ confidence. The overall market sentiment has also been bullish. 

Many known figures in the crypto space also welcome the Blackrock initiatives as a landmark for the market. William Clemente, the lead analyst for Blockware, called it the ‘[most bullish news](https://twitter.com/WClementeIII/status/1557723939366895617)’ for Bitcoin hodlers. He pointed out that it would ensure security for the investors. 

The company itself has also changed its stance on cryptocurrencies. Five years back, its CEO, Fink Larry, labelled Bitcoin as a money laundering index. However, now Blackrock is investing in a BTC product and a crypto trading services as well. As per the statement from the company, the interest from institutional clients in crypto has inspired them to enter the space. 

## Other asset managers in the crypto market

Though Blackrock investing in digital asset class services has been the most impactful, several other players are entering this volatile market. Earlier, Charles Schwab’s asset management arm also invested in the market. It introduced an exchange-traded fund (ETF) for the institutions linked with cryptocurrencies. With the STCE ticker, this ETF was introduced on the 4th of August 2022 on the New York Stock Exchange for trading.

On the other hand, the UK giant, Abrdn, is also exploring cryptocurrencies. This week, FTSE listed Abrdn bought a stake in the exchange Archax, a UK-regulated digital tokens and assets exchange. 



Blackrock investing strengthens crypto’s position

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

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

## What is Ankr?

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

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

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

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

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

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

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

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


Ankr receives significant investment from Binance

Cross-chain bridges have been the focus of many attacks this year. New data from blockchain analytics firm Elliptic claims that one of the cross-chain bridges, Renbridge, was [used in the laundering of more than $540 million](https://hub.elliptic.co/analysis/cross-chain-crime-more-than-half-a-billion-dollars-has-been-laundered-through-a-cross-chain-bridge/) in illegitimate crypto assets.

According to Wednesday's study, RenBridge, a crypto bridge, has assisted the laundering of at least $540 million in illegal profits since 2020 using a method known as chain hopping. This involves turning one type of cryptocurrency into another and transferring it across various blockchains.

Decentralised cross-chain bridges, according to Elliptic, give "an uncontrolled alternative to exchanges for moving currency between blockchains".

## Cross-chain Bridge Exploits

Cross-chain bridges, also known as blockchain bridges, are mainly utilised for lawful reasons, allowing users to exchange cryptocurrency effortlessly between blockchain networks.

Users often deposit tokens from one chain to the bridge protocol, which is locked into a contract, after which the user receives the equivalent of a parallel token in another chain.

Elliptic warns that these bridges have also been used to launder criminal earnings by ransomware gangs, exploiters, and hackers. It says RenBridge accounts for at least $540 million in laundered proceeds since 2020.

According to the firm, at least $2.4 million in crypto assets stolen during the Nomad attack on August 2 passed across the cross-chain bridge.

Elliptic also revealed that assets from decentralised finance (DeFi) services worth at least $267.2 million had been laundered through the cross-chain bridge in the past two years. It adds that a chunk of the $80 million stolen from the Liquid Global exchange last year, reportedly by North Korea, used RenBridge cross-chain platform.

So far, the Conti ransomware gang, which notoriously struck the Costa Rican government in June, has laundered more than $53 million using RenBridge.

RenBridge is also said to be popular with Russia-linked ransomware operations, with $153 million in ransomware being laundered through the site.

Tornado Cash, a decentralised mixer meant to disguise the sources of cryptocurrency, was [sanctioned earlier this week](/news/article/tornado-cash) by the United States Treasury department. The authority took similar action in May with the mixer Blender.io. The US Treasury noted suspected exploitation by North Korean cyber organisations in both instances.

Additional digital services, such as privacy and censorship avoidance, can be used for illegal and non-criminal objectives. However, DeFi is particularly vulnerable to theft and hacking, and finding chokepoints might benefit security experts and governments.


RenBridge Used to Launder $540M

As Q2 2022 concluded, many companies shared their data for cryptocurrency losses.

Major United States crypto companies like Coinbase and Galaxy Digital have reviewed their activities. The data they shared further substantiates that we are experiencing a [crypto winter.](/news/article/crypto-market-crashing)

As per Coinbase, the dip for the previous quarter reached more than $1.1bn. Galaxy Digital's crypto depletion for the same period was $554 million.

## 'Fast and Furious' Cryptocurrency Losses for Coinbase

One of the largest crypto exchanges, Coinbase was listed by the NASDAQ in 2021. It has shared the data for its crypto losses of more than $1.1 billion in the second quarter of 2022. Since its stock exchange listing, this has been the worst quarter for the firm.

The company announced the deficit via a [shareholder letter](https://s27.q4cdn.com/397450999/files/doc_financials/2022/q2/Q2-2022-Shareholder-Letter.pdf) on August 9, 2022. The letter mentioned that consumer behaviour amid this ‘fast and furious’ crypto winter is the same as previous ones. 

Moreover, it revealed that the company is focusing more on innovation in this downward market as it will help the company in the next cycle. 

Coinbase shared that its revenue was $802.6 million for Q2. The firm experienced a 45.1% dip in comparison to Q1. Also, if you compare this revenue to Q2 2021, there is a decline of around 153.1%.

The firm is looking to join forces with [Blackrock](/news/article/blackrock-crypto). Both firms agreed to the partnership to support Bitcoin trading. The alliance announcement has been embraced positively in the stock exchange as it saw a surge of more than 15%. Analysts believe that, with Coinbase encountering losses and probes from SEC, a partnership with Blackrock might help the firm financially.

## Galaxy Digital Q2 Crypto Losses Reached $554.7m

Another digital assets giant, Galaxy Digital, shared its report for the second quarter of 2022.

As per the data, the deficit piled up to $554.7 million in Q2. In Q2 of last year, the company's total debt was only around $182.9 million.

The cryptocurrency losses for the major firms suggest a further aggravating crypto winter.


Cryptocurrency Losses for Major US 

Tornado Cash, the Ethereum-based non-custodial open source software project, has been sanctioned by the United States’ Treasury department.

The sanctions announced on Monday stop people in the US, and anyone subject to US jurisdiction, from using the cryptocurrency mixer.

All property, as well as interests in property, of Tornado Cash in the US or held by US persons are blocked and must be reported to the Office of Foreign Assets Control (OFAC).

The crypto tool enables users to mix their coins using its smart contract, obscuring the prior trail of coins exchanged over a transparent ledger. 

[The sanction](https://home.treasury.gov/policy-issues/financial-sanctions/recent-actions/20220808) relates to the smart contract protocol. These actions have created a bad precedent for open-source software development. 

Following the US Treasury's announcement, it was discovered that Circle, the centralised issuer of stablecoin USDC, has also blocked [every sanctioned address](/news/article/crypto-russia) from using USDC. 

As tracked by internet readers, the number of [black-listed](https://dune.com/phabc/usdc-banned-addresses) USDC addresses now stands at 81.

These activities have prompted many to doubt the security of storing digital assets in a centralised location, even for non-criminals who want to employ privacy-enhancing techniques.

## Tornado Cash Co-creator's Github Account Suspended

Roman Semenov, the co-creator of Tornado Cash, had his GitHub (open source development repository) account disabled. He responded by questioning whether it is now illegal to create open-source code.

Considering the nature of the restrictions imposed this could disturb freedom-loving crypto fanatics. 
These activities also offer various tools in the so-called DeFi space which rely on centralised stablecoins and may have centralised development choke points.

As painful as it may seem, Bitcoin's spontaneous and decentralised nature is a reason why such open-source software exists today.

Open-source software will continue to function as intended, but with increased pressure on software/wallet/protocol developers, only the strongest and most truly decentralised networks will remain.

When considering the long-term case for Bitcoin, one of its most compelling value propositions is that it is an asset with no counterparty risk or dilution (devaluation) risk.
 



Tornado Cash Sanctioned by US Treasury

A cryptocurrency exchange is a platform for purchasing and selling crypto coins and tokens such as Bitcoin, Ether, and USD Coin (USDC).

Crypto exchanges function similarly to brokerage systems that you may be more familiar with. Each service provides a platform via which you can establish various order types to buy, sell and lend cryptocurrencies.

Crypto exchanges can be either centralised, which implies a single corporate authority manages them, such as a brokerage business, allowing both listed securities (centralised finance) and digital assets (decentralised finance). 

Decentralised exchanges, similar to cryptocurrency blockchains, frequently grant verification rights to anybody wishing to join a network and confirm transactions. This encourages accountability and openness while also ensuring that the exchange can continue operating if the corporation that manages the exchange cannot do so.

## How do I create a cryptocurrency exchange account?

Visit the crypto exchange’s website or download its app to establish a crypto exchange account. Each cryptocurrency exchange has its own registration procedure. You may be able to open an account and buy and sell modest quantities of cryptocurrency without validating your identity or entering much personal information. However, as the sector has expanded, methods to combat money laundering and fraud have been implemented. In general as part of know your client (KYC) requirements, you must provide:

1.	Name
2.	The birthdate
3.	The postal address

You may also be required to provide picture documentation to prove your identity.
When it comes to crypto, everyone is looking for the safest and most reliable way to invest and trade. Several different exchanges are available, but not all are created equal.

This post will review the top five best exchanges for crypto in the UK. We’ll review the pros and cons of each and how to use them. So whether you’re a beginner or a seasoned trader, this post has something for you.

## Coinbase

Coinbase was established in 2012 by Brian Armstrong and Fred Ehrsam and is based in San Francisco, California.

Coinbase has built a large user base thanks to its user-friendly interface, reliable platform, and robust security features. It supports a number of cryptocurrencies including [Bitcoin](/coins/btc), Ethereum, Bitcoin Cash, and Litecoin transactions and has over 20 million users.

While Coinbase is a reliable exchange, it does have some downsides. For example, its fees are relatively high, and it doesn’t support as many cryptocurrencies as some competitors.

## Gemini

Gemini is a name that often comes up when choosing a reliable crypto exchange. This platform was founded by the Winklevoss twins (of Facebook fame) and is one of the most respected exchanges in the world.

Gemini is known for its security and compliance measures, as well as its customer service. The platform has a user-friendly interface and allows buying and selling of most of the cryptocurrencies, including, Bitcoin, Ethereum, and Litecoin.

## Kraken

Kraken, one of the most popular crypto exchanges, offers many cryptocurrencies. It’s been operating since 2011 and is considered one of the most reliable exchanges.

Kraken has a relatively high minimum deposit amount, so it may not be ideal for beginners. However, its features, such as a user-friendly interface, high liquidity, and security, make it a popular choice for experienced traders.

## Binance

Binance is among the most popular crypto exchanges in the world. It’s known for its fast transactions, low fees, and wide selection of cryptocurrencies.

Binance has suffered a few outages in the past, but overall it’s been a very reliable exchange. The customer support is also excellent and offers a wide range of languages.

## eToro

eToro is a multi-asset exchange platform that allows users to invest in publicly listed securities such as equities and cryptocurrency assets, as well as trade CFDs. Over 120 cryptocurrencies are available on eToro, including prominent coins like Bitcoin, Ethereum, Tether, XRP, Binance Coin (BNB), and Solana. Opening an account with eToro is entirely free, and all new customers receive a free US$100,000 (£82,737) trial account to experiment with buying crypto and other assets before committing to trading or investing in them. eToro has a minimum deposit of only $10 (£8.27) for UK and US residents; however, it charges a 1% trading fee on every buy and sells order of crypto assets. 

For UK users, eToro provides the eToro Money app, which allows you to convert GBP to USD for free, lowering your foreign exchange expenditures. The platform also serves as a wallet for keeping your crypto currency holdings and enables simple cryptocurrency transfers from one exchange or wallet to another. There are [other fee’s](https://www.etoro.com/customer-service/help/1430821/which-fees-and-commissions-does-etoro-have/) that you should review before committing to use eToro as your broker.

## Bottom line

When picking a best crypto exchange, available in UK, it can be challenging to know where to start. With so many exchanges on the market claiming to be the best, it can be difficult to figure out which one is right for you. It’s better to conduct further research about available crypto exchanges and multi asset exchanges, know the pros and cons of each platform, and choose the one that suits your requirements best. 

Don't forget, Moni Talks will soon be launching Trade Moni- a brand new cryptocurrency trading and exchange platform, so keep your eyes peeled. 



Best UK exchanges for crypto trade and investment

People who work for themselves, sitting in their underwear on their sofa all day generating millions, offer a false promise of "easy money" and the allure of self-sufficiency. 

## Harsh truth about crypto day trading

Based on various [studies](https://www.cnbc.com/2020/11/20/attention-robinhood-power-users-most-day-traders-lose-money.html):

•	40% of day traders trade for only are active for one month

•	In the first two years, 80% of all day traders quit

•	Only 13% continue to day trade after three years. After five years, just 7% remain

•	Individual investors underperform market indexes by 1.5% per year on average; active traders underperform by 6.5% per year

## What is random reinforcement within crypto day trading?

The term "random reinforcement" refers to the use of arbitrary events to qualify (or disqualify) a hypothesis or idea; attributing skill or lack of skill to an unsystematic outcome; and gaining support for positive or negative behaviours from products that are inconsistent, such as the financial markets. 

The market tends to reward poor habits with a limited sample size while penalising favourable behaviours. 

Some amateur traders made money by investing in random [altcoins](https://news.monitalks.io/news/article/xhd-coin-explained) and selling for large, quick returns. In the 2017 crypto market, everyone was a "genius." Then, in 2018, the bubble burst, and inexperienced traders with leverage on their margin could not deal with the drawdown resulting in their account being liquidated. They did not sell their assets and kept holding them until they lost everything.

Many retail investors involved in crypto day trading overheard "big names" on social media discussing an altcoin, leading them to examine the chart and notice that the price is rapidly increasing. They start to buy and sell for a quick profit after a few successful trades, amateur traders begin to believe that they are skilled traders.

Retail traders involved in crypto trading often begin to believe that a favourable outcome on a few random trades indicates success in the future. However, in hindsight, the market rewarded their poor behaviour. However, as they continued to trade impulsively, they eventually lost their capital, as was the case in the 2018 crypto day trading crash.

On the other hand, some retail investors involved in crypto trading spent several months developing a trading plan with risk management, proper portfolio allocations and trading rules. 

However, as they continued losing several times in a row, they began doubting their system. Amateur traders then began to places high-risk trades that breach their strategies rules and succeeded a few times, putting the retail trader back to square one, trading without a strategy because the market has rewarded their bad behaviour.

This is how stock trading can sometimes be compared to gambling.

Crypto day trading loses more money than HODLing

Boohoo, a fashion brand founded in Manchester in the 2000s, has launched the [boohooverse](https://www.boohoo.com/page/boohooverse.html), a Web 3.0 platform designed to empower women in the digital arena. 

Boohoo predominantly collaborate with female-led NFT initiatives and artists. The brand’s future goal is to coordinate Boohoo NFT drops and celebrity partnerships to become a part of the metaverse fashion scene of the future.

With the second series of Boohoo NFT avatar clothing produced by four leading female digital artists, the fast fashion store is attempting to make the metaverse more female-friendly and inexpensive. The firm hopes to replicate the success of its debut NFT collection, which sold out in less than three hours and crashed its website.

Artists Amy Kilner, Reem El, Aoife O'Dwyer, and Shar.eth have designed 230 distinct artworks, some of which are standout fashion pieces from Boohoo's retail selection. Using these characteristics, the company generated a diversified generative collection of 30,000 avatars that reflect the variety of their community.

Boohoo first joined the metaverse with the release of its free boohooverse Access Pass, the first in a series of Boohoo NFTs created in collaboration with female artists and GMGN Labs on the [Polygon](/news/article/polygon-crypto) blockchain. The card, created by Amy Kilner, was claimed in 2.5 hours and caused massive surges in internet traffic, leading the website to collapse.

Signing up for the 'boohooverse' gets you more than just an attractive avatar and clothing. The fashion firm has worked hard to add value to its customers' purchases, making the metaverse more enticing and better value for ordinary people.

Future metaverse projects are discussed in a gated Discord community. This is where the brand actively engages with aficionados by holding community game nights, lounges for open topic discussions, and keeps customers in the know. It includes announcements on new events and product launches while being part of its Metaverse fashion lines. Access to boohooverse events is all included in the latest avatar collection.

Boohoo has more than 13 million social media followers and has worked with Megan Fox, Zendaya, and Paris Hilton.

## Investing in Boohoo NFTs

As prominent fashion brands continue to enter the metaverse and introduce NFTs to their fans, it appears that digital fashion is becoming "the next big thing."

Investing in boohooverse can be fun and interesting as the world moves towards digitalisation. The brand offers cost-friendly NFT collections and supports female empowerment in the digital space.
 
 
 
 



Boohoo NFT Collection Launched by Fashion Brand

Santander are set to launch a crypto trading feature in Brazil. The multinational banking institutions has made plans to offer [digital asset trading services](https://www.coindesk.com/business/2022/07/28/santander-brazil-to-launch-crypto-trading-feature-in-coming-months-ceo-says/?utm_medium=referral&utm_source=feedly&utm_campaign=headlines) to its customers in Brazil, according to, Mario Leao, the Chief Executive of Santander Brazil on Thursday, July 28, 2022. 

The newspaper, Folha de S. Paulo reported that Santander's crypto service isdue to be rolled out  in mid-October when the institution releases its earnings report. 

## Why is Santander launching a crypto trading feature? 

Despite regulatory hurdles and the current [bearish market trends](https://news.monitalks.io/news/article/cryptocurrency-crash), some of the services that have been revolutionised by  decentralized finance  will gradually be adopted in traditional finance, says Leao. He believes that digital currencies are here to stay and the bank has made the decision to support a trading feature not out of competition with other financial powerhouses but because clients of the bank demand this alternative asset class. Education is the key to cryptocurrencies future, he added. 

This is not the first time the Santander has made inroads with crypto in South America. The bank allied with an agricultural commodities tokenization platform called Agrotoken, to provide loans for farmers in Argentina. 

In December 2021, the largest e-commerce firmsin Latin America, Mercado Libre introduced a feature that allows customers to buy, hold, and sell digital currencies in Brazil.
 
In July, PicPay, a prominent financial technology companies announced they will be launching an exchange and a stablecoin pegged to the national currency of Brazil later this year. 
While Santander is now starting it's crypto offering, other large players such as Nubank’s crypto trading platform, has already seen one million users.  

Overall, this is great news for the emerging sector which has seen its flagship currency Bitcoin questioned by Warren Buffet, and other coins such as Dogecoin (DOGE), ZCash (ZEC), and Monero (XMR) being involved in dark web activities. 
  
    
  


    
  



Santander to launch crypto trading feature in Brazil

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

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

## Pre-market allocations for crypto banter

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

## Neuner's involvement in cryptocurrency media

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

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

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

## Miles Deutscher's involvement in cryptocurrency media

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

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

## Bottom line

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



The rise of Crypto Banter

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

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

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

## Why BlackRock chose Coinbase as their crypto partner

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

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

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

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

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

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

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

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



Coinbase and BlackRock crypto have teamed up

According to a Nomad crypto statement, anyone who returns at least 90% of stolen tokens would be considered a white-hat hacker who tries to expose weaknesses rather than making harmful profits. The remaining 10% would essentially become the incentive. 

“We will not pursue white hats”, stated the firm's chief executive officer. He added that they will continue collaborating with their partners, intelligence agencies, and law enforcement to pursue all such bad actors to the greatest degree permitted by law.

What caused the nomad crypto hack 

Nomad  put up a recovery wallet address to persuade the "white hat hackers who have been keeping ETH/ERC-20 tokens to restore the stolen digital assets. The wallet came into existence following a collaboration with the custodian bank Anchorage Digital. Currently, $19.4 million (roughly 10%) of that crypto is back with the protocol. Nomad has already resorted to Twitter to express gratitude to some donors. 

According to 1KX Research, the breach [occurred due to a mistake](https://blockworks.co/after-latest-crypto-bridge-hack-industry-participants-call-for-tightened-security/) in the code. Developers unintentionally activated a code setting that automatically validated any transaction script provided to the protocol as long as it contained a "root" of “0x00."

## What is Nomad?

Nomad is a bridge protocol which allows tokens to be transferred across blockchains to make diverse networks compatible. Bridges have become one of the crypto sector's weak areas following multiple attacks, with an estimated $2 billion in tokens stolen from them in 2022, according to consultancy Chainanalysis. 

Based on data from Etherscan, a tool used for analysing the Ethereum blockchain, and the bridge provider's calculations, Nomad has recovered around US$20 million of the US$190 million. Nomad says it worked with forensics specialist TRM Labs and law enforcement to identify hackers. 

Shortly after, the attack on nomad crypto emerged earlier this week. The crypto industry suffered another blow when hackers targeted the [Solana ecosystem](/news/article/solana-wallet) on Wednesday, 3rd August 2022, which affected thousands of wallets. 




Nomad offers 10% bounty of crypto $190 million hack

After the algorithmic stablecoin, Terra lost its peg to the US dollar, this was accompanied by a bank run that rendered $40 billion in tokens almost worthless. Crypto collateral valuable enough to cover loans one day became highly undervalued or illiquid, casting uncertainty on the fortunes of seemingly invincible hedge funds and other high-profile lenders.

## What led to the crypto market crashing?

The seeds that spawned the crypto market crashing — greed, excessive leverage, and a delusional belief in price going up — are not new. They were there when almost every other asset bubble burst. However, crypto is a new and highly unregulated market, with boundaries blurred and failsafe weakened by the notion that everyone engaged can get wealthy together. 
Leveraged trades rely on borrowing, increasing the risks and profits. There are an estimated 1,900 crypto hedge funds, and the majority appear to utilize leverage to trade at bigger volumes with collateral that may not meet requirements of centralized financial regulation.

## Analysis of crypto market crashing

In a December study, the Bank for International Settlements (BIS) highlighted the implications of decentralised financing's high leverage. The BIS noted that when debt decreases due to investment losses or depreciating collateral, investors are obliged to liquidate assets, exerting further downward pressure on prices. Crypto has had multiple large dips in its history, dubbed "crypto winters" by the community and a bear market by the rest of the financial industry. Still, the sector's expansion and increased acceptance from Main Street to Wall Street means more is at stake today.

Its expansion has further amplified the impact of this year's turbulence: After the expiration of the crypto market crashing in 2020, the industry peaked at $3 trillion in total assets last November before plummeting to less than $1 trillion. 

If [Terra](https://www.cnbc.com/2022/05/30/terra-2point0-new-luna-cryptocurrency-is-already-crashing.html) led to this crypto market crashing and was the equivalent to Bear Stearns in the 2008 financial crisis, many believe that the Lehman Brothers moment is just around the corner. The failure of lenders to make margin calls was an early warning flag in the 2008 financial crisis, and crypto has experienced its counterpart this month: Celsius Network, Babel Finance, and Three Arrows Capital all disclosed severe issues when digital-asset values fell, causing a liquidity crunch that ultimately comes from the industry's interdependence.

Consumer confidence and perception of bad actors had a role in the crypto market crashing and the financial crisis, but what is occurring now is money flowing out of deployed, working systems due to over-leverage and irresponsible risk-taking." 

Leverage allows investors to generate more returns with less investment during bull markets, but when the market falls, such positions swiftly unravel. Also, in crypto, such bets frequently include more than one type of asset, increasing the likelihood of a crypto market meltdown.

## How Celsius contributed to the crypto market crashing

Over the last several weeks, a crypto news site has received many complaints from Celsius users. Some are concerned about losing their houses after being liquidated on millions of dollars of loans secured by the company's cratering CEL token. Celsius has been leveraging client assets to pay out 17 % APY utilising a variety of DeFi protocols, including Terra's Anchor and Ethereum mainstays Lido and Curve. 

Given the danger of accepting crypto loans, particularly those via decentralised finance applications that do not use intermediaries like banks, sometimes ask borrowers to put up more collateral than the loan is worth.

[Celsius](/news/article/celsius-bankruptcy-protection) began lending to human traders two years ago, managing risk by requiring collateral from these borrowers. Celsius leased financial assets to players that can profit from arbitrage, market making, or shorting specific equities or digital assets." 

However, as market values fell, it led to the crypto market crashing. After Celsius started lending in the DeFi space, exposing borrowers to risky market fluctuations, whereas lending to a creditworthy institutional borrower is entirely different. The danger is not the same as relying on cryptocurrency market prices to remain stable or increase."

Loans that were previously over collateralised are now in danger of liquidation. This process is automated in DeFi, worsened by the increase of traders and bots looking for methods to make quick profits. 

## Views of Finance Professor on crypto market crashing

According to a finance professor, John Griffin at the University of Texas at Austin, the spike in cryptocurrency prices last year was fueled by leveraged speculation, possibly even more so since the previous crypto market crashing. A low-interest-rate environment and ultra-accommodative monetary policy helped set the scene.

With interest rates increasing and a lack of trust in leveraged platforms, the deleveraging cycle had the impact of unwinding these prices far faster than they grew, the finance professor added. Though traditional markets frequently rely on a slow and constant level of leverage to expand, the effect appears to magnify in crypto due to the concentration of speculation in the industry.

Regulators are watching the industry, looking for indications of instability that might jeopardise their fledgling ambitions to regulate cryptocurrency. Even laws proposed in the spring have changed in the aftermath of Terra's collapse, with some countries considering measures to mitigate the systemic impact of failing stablecoin systems. 

He added that while there may be occasional bull rallies, he does not see the cycle reversing soon. He said that when the Nasdaq bubble burst, analysis indicated that wise investors were among the first to exit and sell when prices fell, whereas retail investors bought up and lost money. 

Digital assets were the domain of affluent retail investors and a small handful of crypto-focused firms. Now, the industry has developed a greater appeal to pump-and-dump investors and hedge fund giants, prompting authorities to routinely intervene with comments warning consumers of the risks of trading such products.

After witnessing the crypto market crashing many times and broad acceptance, most investors now see crypto as another asset class and treat it like the rest of their portfolio. As a result, cryptocurrency values correlate with other asset classes, such as technology stocks. 

The crypto market's experimental and speculative characteristic exacerbated the meltdown, knocking out small retail traders who put their life savings into unregulated projects like Terra which have no track record. Furthermore, the industry is overhyped by new generations of crypto cult members using social platforms like Twitter and Reddit. Exchanges have also contributed, with FTX, Binance, and Crypto.com investing in marketing and high-profile sponsorships.




Crypto market crashing due to deleveraging

The crypto market has expanded exponentially in recent years with more than 9,000 digital coins. Now, investing in cryptocurrencies has become a mainstream trend. You can now generate passive income through lending and capital gain by crypto investing or trading. Another avenue you can take is investing in the many blockchains and DeFi startups.

There is also a rising trend of real-world equity investing and trading with stablecoins. Decentralised exchanges like [FTX US](https://www.ft.com/content/8379f141-8b94-438e-8347-cb5ffdf003ac) have already begun to offer services in this area. This has opened a new gateway for buying shares in a company with cryptocurrencies. 

However, the market lacks clarity on how equity trading will work with stablecoins. To make things more straightforward, we have discussed below how retail investors can benefit from fiat-based stablecoin investing. 

## The crypto world meets the stock market

The crypto market involves digital assets that emerged only in the last decade. The stock market is a much more mature and competitive market that involves real-world assets. Stocks were considered the primary investment option by the masses. But, as the crypto world continues to grow, many digital tokens have gained investors’ attention.  

However, crypto is a precarious and unpredictable market. That’s why tokens’ real-world usage is still limited. For this reason, stablecoins were introduced, pegged with fiat currencies. But the debacle of the Terra ecosystem left a dent in their reputation. 

Now, many DEXs are looking to link stocks and stablecoins. This will even help crypto investors in buying shares in a company. Moreover, it will help in diversifying your portfolio and help increase the real-world usage of crypto coins and tokens. 

## Crypto exchanges for buying shares in a company

Buying shares in a company with cryptocurrencies is an emerging trend in the industry. There are limited exchanges that offer equity trading services with stablecoins. Here are a few names that have already started or have announced to provide this service soon.

1.	FTX US
One  of the leading digital asset exchanges, FTX, has recently announced its services in the stock market. The exchange will allow buying company shares with both fiats and fiat-backed currencies. FTX US will primarily deal with US dollar-pegged stablecoins like Binance USD and USDC (USD Coin). Also, the exchange made it clear that it would not be supporting algorithmic stablecoins like [Terra](/news/article/terra-usd) USD.

2.	Voyager Digital
Another US decentralised exchange, Voyager Digital, has also signalled toward offering a similar service. It will work as a brokerage platform and allow you to buy stocks through stablecoins. Voyager Digital will likely work with USD-backed stable tokens like USDC. The platform has announced it would begin offering the service later this year, however this looks unlikely given that Voyager filed for bankruptcy protection last month.

3.	Bitstamp USA
Yet another US-based crypto exchange, Bitstamp USA, might enter the stock trading services via stablecoins. The platform has yet to announce its plan for when and how it will introduce the equity trading service. However, the platform’s CEO, Bobby Zagotta, showed keen resolve to enter the market.  

## Bottom line

Stablecoins in the stock market can revamp the existing business model of brokerage exchanges. It can create an environment where investors can trade both real-world and digital assets in one place. Buying shares in a company may also help bring crypto investors into a regularised market and increase the real-world usage of cryptocurrencies. 




Buying shares in a company with crypto

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

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

## How does the Block Busters protocol function?

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

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

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

## Will Block Busters live up to its hype?

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

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






Block Busters Tech: Is it worth the hype?

The [senate bill proposed on Wednesday](https://www.protocol.com/bulletins/senate-bill-cftc-crypto) by Michigan Democrat Sen. Debbie Stabenow and Arkansas Republican Sen. John Boozman is the latest attempt in Washington to establish more defined government laws for digital assets. Under this law, the Commodity Futures Trading Commission would be given power over the markets for Bitcoin and Ether, the two major cryptocurrencies.

The CFTC and the SEC have been wrangling for control of cryptocurrencies. Tensions recently heightened when the SEC classified a list of crypto tokens as securities in an insider trading lawsuit, triggering public criticism from Caroline Pham, a CFTC commissioner.

## Senate bill could give clarification

The senate bill proposed could give some clarification. It would give the CFTC direct authority over tokens classified as "digital commodities." According to the bill summary, this covers bitcoin and ether.

Online exchanges and other businesses that assist in token trading would have to register with the CFTC. The bill would also mandate the CFTC to verify crypto businesses, avoid abusive trading practices, have adequate financial resources and appropriate cybersecurity safeguards.

The bill also acknowledges the role of other financial bodies in regulating digital assets that are not commodities but act more like securities or means of payment.

The emphasis on Ether and Bitcoin as commodities is consistent with the views of SEC Chair Gary Gensler, who has stated that most other tokens are likely to be securities.

However, the bill only briefly mentions the classification and uses the examples of Bitcoin (BTC) and Ether (ETH), which the SEC previously classified as commodities. In addition, the law states that any crypto assets that are not deemed as securities by the SEC may bear the CFTC's commodities stamp.

Rostin Behnman, the head of the CFTC, has been vying for a new authority to oversee digital commodities spot markets, where the assets are traded directly. The new legislation would give that power. The bill states that the CFTC would have "exclusive authority over any account, agreement, contract, or transaction involving a digital commodities trade."

A broader [crypto regulation](/news/article/us-sec-regulation) bill submitted in June by Senators Kirsten Gillibrand and Cynthia Lummis considers the CFTC to play a leading role in crypto regulation. Gillibrand and Lummis recently admitted that the complete legislative package was unlikely to pass this year but that some provisions, such as those defining the function of the CFTC, may go through Senate committees.



Senate bill to strengthen CFTC's crypto authority

Gucci, an Italian luxury brand, announced on Monday that it would [accept apecoin as a payment method](https://cointelegraph.com/news/gucci-becomes-first-major-brand-to-accept-apecoin-payments). The payment mode is currently only accessible in the United States because not many countries allow crypto to be accepted as a payment method. The brand is partnering  with Bitpay to make the payment option available. Bitpay is a cryptocurrency payment processing firm that has worked with numerous well-known companies to make cryptocurrency payments possible.

It is, however, Gucci's 12th cryptocurrency that they accept as payment. In May, the company announced plans to accept 12 crypto assets as payment options in 111 stores across North America. Bitcoin, Ethereum, Dogecoin, SHIB, Litcoin, Wrapped BTC, USDT, USDC, and many more were on the list.

Gucci has emerged as one of the few large companies to engage with cryptocurrency aggressively. In February, the Italian brand launched the "SUPERGUCCI" NFT collection in collaboration with the vinyl toy brand SUPERPLASTIC. The following month, it released the "Gucci Grail" NFT collection, targeted at owners of top NFT projects like the [BAYC](/news/article/bored-ape-nft). The brand is profiting from the current excitement in the cryptocurrency and NFT markets.

## Apecoin community reactions

ApeCoin's official Twitter page responded by stating that they are thrilled that Gucci will be the first large company to accept the cryptocoin for in-store transactions. Everyone is excited about this move because it is a community-driven initiative. As a result, it's not surprising that Twitter is flooded with tweets concerning Gucci's moves. Users have been seeing that more corporations are adopting the Web3 environment, and it appears that Gucci is ready as well.

Apecoin (APE) has experienced a rise in its general acceptance as a payment method. As the market has gained traction and the cryptocoin has witnessed some favourable developments, it has increased by about 50% in the previous month. It is currently trading at $7.32. However, the coin is still nearly 75% down from its ATH.



Gucci now accepts ApeCoin as payment