Environmental cryptocurrency consciousness is developing as more and more people think about the impact of crypto on our ecology.
It has been widely reported that [Bitcoin](/coins/btc), altcoins like [DOGE](/coins/doge), and other cryptocurrencies are having a detrimental impact on the environment.

How much do you know about environmental cryptocurrency concerns? Are you aware that the high levels of energy consumption in the crypto space could pose a threat to our planet?

We have to start thinking about environmental cryptocurrency, for the protection of our ecology and the wider adoption of crypto.

Cryptocurrencies generated through mining have a substantial negative impact on the environment. They use high-powered computers and a massive amount of electricity to mine their coins. What is the effect of this high level of energy consumption on the environment?

Cryptocurrency has become extremely popular. There are thousands of coins, with new ones emerging all the time.
While this may be good for the crypto space and investors, there is a downside - especially if those cryptocurrencies require mining.

Bitcoin, the most popular cryptocurrency, is viewed as an unsustainable network. Bitcoin requires a high level of energy consumption for mining, and the more Bitcoin that gets mined, the more harm it causes to the environment.

In the past, there wasn't much time given to environmental cryptocurrency thinking.
However, awareness of the negative impact of unsustainable cryptocurrencies on the environment is growing, along with demands for solutions.

Let us go through the impact of cryptocurrency mining on the environment

## How are Cryptocurrencies Made?

Many cryptocurrencies are created through 'mining'. Miners use computer programmes and power to create solutions to tough problems. The answers they create validate cryptocurrency transactions, and this validation goes into a decentralized record-keeping system. Powerful computers used for mining are called mining rigs, which use a surprisingly high amount of electricity.

For example, researchers from Cambridge University estimated that Bitcoin annually uses electricity more than the whole of Argentina.

[Digiconomist](https://digiconomist.net/), a cryptocurrency analytics site, published that the carbon footprint of one Bitcoin transaction is likely to be more than two million Visa transactions. And just that transaction uses as much power as an average American household uses in two months.

This danger that digital currencies pose to the environment starts to make sense now.

The use of cryptocurrencies to make transactions have increased speedily. Is there any hope for our environment?

## Can this Impact be Controlled?

Many cryptocurrencies are created through Proof of Work, which leads to large energy consumption. However, other methods that require less energy are being developed:

- Proof of Stake (PoS): a cryptocurrency consensus mechanism for processing transactions and creating new blocks in a blockchain. This mechanism is an alternative to cryptocurrency mining that does not involve extensive computing power. Paying closer attention to this method will help to conserve more energy consumed while mining cryptocurrency. Ethereum plans to move from PoW to a PoS algorithm. It will reduce the network's energy demand by about 99%.

- Some Bitcoin developers are working towards the Lighting Network that will decrease the energy consumption by most transactions.

- Cryptocurrency education is also necessary; people must become fully aware of environmental cryptocurrency challenges. Bitcoin uses the most energy when it comes to mining. Yet, when people get introduced to cryptocurrency, many start with Bitcoin and use it the most.

## Conclusion 

People can be educated about other options they have in cryptocurrency. They can learn to use more environmentally friendly cryptocurrencies that don't use PoW.

Environmental cryptocurrency consciousness is a good thing. This is a serious issue. It needs to be tackled now, before it worsens.


Environmental Cryptocurrency Concerns

The South African company [H20 Securities received sustainable impact investing round of $150 million](https://cointelegraph.com/news/african-infrastructure-firm-lands-150m-to-launch-crypto-water-token) from the GEM Digital investment firm through the sale of the H20N coin.

GEM Digital will own H20N tokens as a result of its massive investment, which will be used to steer investments in water delivery infrastructure in locations where fresh water is scarce.

H2O Securities and the H2ON Token enable the faster growth of water infrastructure and solutions through the use of its token approach and blockchain technology. The company intends to accelerate global water infrastructure development and believes its solution will enhance water availability to the world's population.

 In a joint release on July 4, CEO of H20 Securities Julius Steyn stated, "The focus with the H2ON token is primarily on the worldwide financing of water projects, rather than the technical engineering and building of such projects."

 On July 4, alongside the announcement, the H20N was also added to the Bitmart centralised exchange (CEX) launchpad's initial decentralised offer (IDO) platform.
 
## GEM Digital- sustainable investment strategy
 
GEM Digital, based in the Bahamas, is a $3.4 billion investment corporation that specialises in alternative investments such as digital assets and resource extraction equipment. The company offers sustainable impact investment in technologies that aim to better the environment and human living situations. Its portfolio includes investments in Changing World Technologies, a food waste processing company, and Neos Ocular, a laser manufacturer.

GEM portfolio also includes investment in QBNK Holding AB, a digital asset management business.

H20N will be used to pay invoices between H20N network members, such as water plant owners and their customers. The company claims that generating capital to finance water projects will shorten the time it takes water suppliers to supply to new consumers compared to existing methods.
 
For more Latest Moni news check out [Latest Moni](https://news.monitalks.io/news).
 



Sustainable impact investing in blockchain and water 

The [Online Blockchain share price](https://www.londonstockexchange.com/stock/OBC/online-blockchain-plc/company-page) has continued to tumble. However, a new digital currency offering may lead to a turnaround.

Online Blockchain plc and its subsidiaries operate as a blockchain corporation in the United Kingdom. The business is divided into two segments: faucet subscription and management services.

It also serves as an incubator and investor in technological firms, such as internet and information enterprises, blockchain developers, administrators, and custodians. In December 2017, the firm changed its name from On-line plc to Online Blockchain plc.

It is listed on the AIM market of the London Stock Exchange and is incorporated and located in the UK.

Online Blockchain has been working on systems to facilitate the adoption of blockchain and cryptocurrency technologies across various applications for some time.

Its first foray into the future was PlusOne, a media token that connects to the hub of an online community. PlusOneCoin provides an online community with the potential to reward members and promote content.

## Share Price

The company's shares are traded on AIM (LSE: ONL). There are currently 14,311,709 shares in issue, with zero being held by the Treasury and 3,059,350 of the securities not in public hands. Major shareholders include CH Chambers, who has 1,529,364 shares, accounting for 10.7% of the holdings. MJ Hodges currently holds 1,365,500 shares, which is 9.5%. Currently, there are no limits on the transfer of securities.

Since its incorporation on 19 December 2017, the Online Blockchain value has been in a downward trend, falling from 139.00p to 19.00p in just under five years.

The Online Blockchain price reached a bottom of 7.00p in mid-2019. It rose again to as high as 100.00p before dropping back to 41.0p.

The share price then stayed in a range between 33.00p and 50.00p. This was before the Online Blockchain share price broke out to trade at 60.00p before falling back to 29.00p. In recent weeks it has been trading between 26.50p and 45.50p in a downward trend, before dropping below 24.50p to its current Online Blockchain share price of 19.00p

In May, Online Blockchain stated that its 'Brazio' cryptocurrency has reached another "important" milestone. The AIM-listed business revealed that Brazio, characterized as a listed safe digital money for Brazilian residents, saw its first 'halving' on 13 May.

It stated that halving is a cryptocurrency event in which the creation of new currencies is halved, implying that Brazilian 'miners' will see their block reward lowered from 200 coins to 100 coins.

There are now 83 million Brazio coins in circulation, with a total allotment of 210 million. According to Online Blockchain, the decreased supply, along with the previously stated high demand, is predicted to be a favourable indication for the Online Blockchain share price.

The Proof-of-Work currency, developed for unbanked Brazilians, with an average daily volume of 250,000 on SouthXchange and roughly 3,000 claims per day on cryptocurrency exchange FreeFaucet.

According to Online Blockchain, Brazio's mining distribution was designed for common PCs rather than specialized mining gear, unlike other cryptocurrencies.

According to the board, the next halving is projected in around two years.

"This is a watershed moment for Brazil, and we are encouraged by both the currency's development and appeal," said Clem Chambers, chief executive officer.

Brazio's security, swift transactions, and independent governance make it an appealing solution in Latin America, where cryptocurrency use is rising.

Perhaps the current announcement will cause the Online Blockchain share price to return to its highs of 139.00p, but according to technical analysis, the slump is continuing, and prices are approaching zero. Time will tell if this is a positive announcement for the Online Blockchain share price.

For more crypto business news see [Latest Moni](https://news.monitalks.io/news).


Online Blockchain Share Price Continues to Tumble

Singapore crypto platform Vauld became the latest company that decided to answer to the market instability by suspending withdrawals and trading on Monday.

According to the official statement, the firm intends to quest after new investors and will consider restructuring options as analysts agree upon the fact that the bear market is only at its very beginning.

Vauld CEO Darshan Bathija [confirmed the problems](https://twitter.com/VauldOfficial) within the company started after the crash of Terraform Lab’s UST stablecoin, Celsius network [halting withdrawals](/news/article/celsius-crypto-freezes-withdrawals), and Singaporean firm Three Arrows Capital defaulting on their loans.

Bahtija also revealed clients have withdrawn total of a $197.7 million since 12 June 2022, and added that because of that, the firm engaged financial and legal advisors in India and Singapore.

“Our management remains fully committed to working with our financial and legal advisors to the best of our abilities to explore and analyse all possible options, including potential restructuring options, that would best protect the interests of Vauld’s stakeholders,” Bahtija wrote.

He also added there are plans to apply to the Singapore courts for a moratorium “i.e. a suspension of the commencement or continuation of any proceedings against the relevant companies so as to give us breathing space to carry out the proposed restructuring exercise”.    

It's interesting though that a few weeks ago, Vauld confidently claimed it doesn’t have any exposure to both Celsius and Three Arrows Capital. 
“We remain liquid despite market conditions. Over the past few days, all withdrawals were processed as usual and this will continue to be the case in the future,” the company said on June 16.

Be it as it may, it seems that its Singaporean colleague Three Arrow collapse was too much for Vauld to handle even though it raised $25 milion in a funding round a year ago.
Among the investors were Coinbase’s crypto hedge fund Pantera Capital and Valar Ventures, a VC firm co-founded by Peter Thiel.


Coinbase, Peter Thiel-backed Vauld pauses withdrawals

Alto, an investing firm in the United States found out that 39% of Millennials in America hold digital assets. Individual stocks are owned by nearly the same percentage, as estimated in the American crypto survey.  

While some had a small portion of their wealth in mutual funds, the majority had some of their hard-earned money in crypto. Seventy percent of investors with a long-term outlook included cryptocurrencies in their Individual Retirement Accounts (IRAs). 

Additionally, the American crypto survey found that citizens within the aforementioned age group who do not own any forms of digital currencies are considering entering the space in the not-too-distant future despite reservations by [Warren Buffet and Bill Gates](https://news.sky.com/story/elon-musk-sued-for-258bn-over-claims-he-ran-a-pyramid-scheme-to-promote-dogecoin-12635334) on the use of Bitcoin.

With that said, the current crypto climate where all cryptocurrencies are trading below 50% of all-time highs  has made it difficult for millennials to throw money behind any digital asset. Commenting on the insights from the study, founder and the Chief Executive Officer (CEO) of Alto, Eric Saltz said that in a modern world of conspicuous consumption, soaring living costs, and student loan debt reaching new highs, millennials are struggling to afford the present which makes it difficult to them to invest for the future.

Out of the assets available for investments, millennials are more interested in putting their monies into real estate. Statistically, 77% answered they would invest in properties, 55% are interested in testing Angel investing, and 67% were interested in jumping into innovation funds. 

Another study conducted by deVere Group, an international financial consultancy firm revealed that 51% of Generation Z (born between 1997 and 2012) and 36% of millennials would prefer receiving half of their salaries in cryptocurrencies instead of fiat money (USD). 

According to the Chief Executive Officer (CEO) of deVere Group, Nigel Green, many youngsters grew up within the technological revolution, and are accustomed to digital things. This has made it easy for them to embrace the latest innovation in the financial sector since they see massive potential in the use of cryptocurrencies. 

Moreover, per a survey by the Consumer News and Business Channel (CNBC) in June, 47% of millennial millionaires have at least 25% of their wealth in the decentralized finance market. 

For the latest crypto business news, visit [Moni Talks](https://monitalks.io/news/category/crypto-business-news).


American millennials invest more in crypto than mutual funds

The European Union (EU) has introduced [Markets in Crypto-assets proposal (MiCA)](https://www.consilium.europa.eu/en/press/press-releases/2022/06/30/digital-finance-agreement-reached-on-european-crypto-assets-regulation-mica/), a framework for regulating the crypto market in the continent. On 01 July 2022, a MiCA reporter, Stefan Berger, took to Twitter to announce that Europe has become the first continent to have a regularised crypto policy. 

![MiCA.png](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/Mi_CA_136bb478bb.png)

Berger mentioned that the Parliament, Council, and Commission have approved a balanced MiCA framework. In addition, he indicated that PoW technology will not be banned; however, crypto issuers will be accountable for energy consumption and its impact on the environment. 

Where MiCA regulation has rejected the ban on PoW technology, it might still affect the digital asset market in various ways. One of the most affected crypto-assets can be stablecoins like EUROC and others. 

## MiCA’s harsh regulations for stablecoins like EUROC

The EU-endorsed MiCA framework has a dedicated section for stabilising stablecoins, including the [Euro coin](https://www.monitalks.io/news/article/euro-coin). The framework has considered the recent crash of Terra Luna, a stable cryptocurrency and formed policies to protect crypto consumers. 

For this reason, the framework proposed certain strict measures that the stablecoin issuers would have to take to mitigate instability and risk. Here are the proposed MiCA regulations for the stablecoins like EUROC:


1.	Stablecoin issuers must have an adequate liquid reserve with a 1:1 ratio.
2.	Stablecoin consumers can claim the token at any time without any additional fee.
3.	All stablecoins will be supervised by the European Banking Authority (EBA.)
4.	Non-European currency-based asset-referenced tokens will be regulated to ensure Europe’s ‘monetary sovereignty.’
5.	Asset-referenced token issuers would need to register themselves in the EU. 

## The stance of Circle’s Euro coin (EUROC) 

According to the Head of Global Policy and Chief Strategy Officer of Circle, Dante Disparte believes that:

>  “MiCA regulation will be to crypto what GDPR was to privacy.” 

Though many crypto users call MiCA a crack-down on the crypto market, Disparte reflected that MiCA policy will likewise work as a guiding framework for crypto issuers and consumers. 



MiCA regulations impact on EUROC and other stablecoins

The CEO of the cryptocurrency exchange FTX, Sam Bankman-Fried, recently warned that some exchanges have been “secretly insolvent” and they might collapse.

Commenting on the infamous flop of Luna, a $40 billion digital asset associated with TerraUSD, a $16 billion stablecoin designed to keep balance with the U.S. dollar, Sam Bankman-Fried asserted that [more failures will happen](https://www.forbes.com/sites/stevenehrlich/2022/06/28/bankman-fried-some-crypto-exchanges-already-secretly-insolvent/?sh=2fdf533547f7). “There are some third-tier exchanges that are already secretly insolvent,” he said.

> “There are companies that are basically too far gone and it’s not practical to backstop them for reasons like a substantial hole in the balance sheet, regulatory issues, or that there is not much of a business left to be saved,” said SBF.

Last month, Singapore-based Three Arrows Capital (3AC), a highly levered digital trading firm which bought $200 million of locked Luna classic (LUNC) confirmed that it’s now worth $700.

Three Arrows’ had borrowed large sums from different crypto-related companies such as Voyager Digital and BlockFi. Bankman-Fried decided that, between FTX and his trading company Alameda, he provides the faltered companies with $750 million in credit lines. 

However, he added that he’s aware there is no guarantee this investment will show profitable.

> “You know, we're willing to do a somewhat bad deal here, if that's what it takes to sort of stabilize things and protect customers,” he said

Still, this cash injections are far from only being altruistic. Known as a “vulture capitalist”, SBF recently [bought a 7.6% stake](https://www.monitalks.io/news/article/ftx-uk) in cryptocurrency brokerage Robinhood and the people familiar with the situation say he’s into a total acquisition.

Along with this theory comes the latest rumors of Sam Bankman-Fries actually closing in on a deal to buy embattled crypto lender BlockFi for $25 million in a fire sale.

## JPMorgan Says Crypto Deleveraging Cycle Won’t Last 

Also, last year, he decided to slash leverage on FTX saying crypto derivatives are a "somewhat misunderstood area." 

"Any position that you're putting on with that level of leverage can't be absolutely crucial for efficient markets, and this is not something I felt was particularly important or good for crypto market health," SBF commented after lowering the cap to 20 times.

This move proved to be good, at least according to the JPMorgan crypto views. The company’s strategist Nikolaos Panigirtzoglou [recently explained](https://fortune.com/2022/06/30/crypto-market-deleveraging-jpmorgan-report/) “historic deleveraging of the cryptocurrency market could be coming to an end, which could signal the close of the worst of the bear market”.

Panigirtzoglou added that “the fact that crypto entities with the stronger balance sheets are currently stepping in to help contain contagion.” 





Sam Bankman-Fried says more crypto platforms will close

Check out our step-by-step procedure to successfully integrate Avalanche crypto with MetaMask; we have made it easier for you!

Avalanche is a platform where you can build decentralised applications (DApps) for free. It is an Ethereum alternative platform that promises secure and high-speed transactions at a relatively lower cost.

To use the Avalanche network, you must learn to integrate it with a DeFi wallet. This wallet integration is necessary as it will keep your AVAX tokens secure and help in their withdrawal. It is also important to get an Avalanche-compatible crypto wallet, like MetaMask.

However, Avalanche crypto [MetaMask](https://metamask.io/) integration can be quite tricky. Here we’ve outlined the step-by-step procedure that will assist you along the way. Let’s make this process easier for you!

## Step 1 - Setting up MetaMask Account 

Before you move on to the Avalanche crypto MetaMask integration, setting up a secure MetaMask account is essential. MetaMask is a DeFi wallet that you can easily install on your phones, whether iOS or Android. You can also get it through extensions available on Firefox and Google Chrome.

After downloading it to your device, click the **Get Started** button to set up your wallet. Now, you will get two options: create a new account or import your previous wallet. For importing the previous wallet, you must have its secret seed phrase.

A secure password is needed for a new wallet. After that, get your seed phrase and confirm it. A seed phrase is the master key, consisting of 12 words, working as a backup to your wallet. Now, you can get started with your MetaMask wallet just by clicking the **All Done** button.
 
## Step 2 - Integrating Avalanche crypto to MetaMask

Now, you can start with the Avalanche crypto MetaMask integration. The following simple steps will guide you through the process:

1.	Firstly, open the MetaMask extension or app on your device, and look for the network options. Change it from Main Ethereum Network to Custom RPC. 
2.	It will redirect you to a form through which you can change the Network name to Avalanche Network. It will further ask you to add the RPC URL, ChainID, and other details.
3.	Now, you can update the information as follows:

•	Network Name: Avalanche Network

•	New RPC URL: https://api.avax.network/ext/bc/C/rpc

•	ChainID: 43114

•	Symbol: AVAX

•	Explorer: https://snowtrace.io/

4.	Finally, it will integrate your MetaMask wallet to the Avalanche network, and now you can use it to keep your AVAX tokens.

## Step 3 - Adding Avalanche crypto to MetaMask wallet

To handle your AVAX tokens through your MetaMask wallet, you must send them to your new wallet. Before proceeding, note that you must have AVAX C-chain (Contract Chain) tokens. The X-chain or P-chain tokens are incompatible with MetaMask, and if you send them to the wallet, you might lose your AVAX.

To add them to the MetaMask wallet, firstly, open your Avalanche wallet and check the chain of your tokens. If they are on the X-chain (Exchange chain) or P-chain (platform chain), shift them to the C-chain through the ‘cross chain’ option. You can proceed with the Send option when the tokens are on the c-chain.

It will lead you to a form where you can fill in the details regarding the amount and the account to which you must send your AVAX tokens. Here, select the C-chain as your source and write the amount you want to send. Then copy your MetaMask wallet address and paste it into the To Address box. After checking the gas fee, you can proceed to Confirm, which will transfer your AVAX C-chain tokens to your MetaMask wallet.

## Final thoughts

Avalanche Network's AVAX token has been a high-performing token offering speedy transactions at lower rates. This is why many opt for the Avalanche network for daily transactions.
In this article, we have discussed the Avalanche crypto MetaMask integration process. To sum it up, initially, you need to set up a MetaMask account. Then, integrate it into the Avalanche network by changing its current network to Avalanche. Finally, transfer your C-chain AVAX tokens to MetaMask Wallet, and you will be ready to manage them through it.


Avalanche Crypto MetaMask Integration Made Easy

Despite the company's significant efforts to obtain clearance, the SEC denied Grayscale Investments' approval to transform its $13.5 billion [Grayscale Bitcoin Trust (GBTC)](https://cointelegraph.com/news/breaking-grayscale-launches-legal-challenge-to-bitcoin-spot-etf-rejection) into a spot-based bitcoin ETF on Wednesday.

The decision follows the SEC's rejection of Bitwise's application for a spot bitcoin ETF on Wednesday.

After a protracted struggle to convince the SEC that the product had enough investor security, the refusal is a blow not only to Grayscale but to the whole cryptocurrency industry.

## The significance of a BTC spot ETF in the U.S. markets

The significance of a Bitcoin based spot ETF being available on the listed U.S. markets cannot be overstated. It would mean that institutional and everyday investors could buy and sell Bitcoin like any other security on the market.

This would give institutional investors more confidence in the market and could help to fuel the next bull run. It would also make it much easier for average people to invest in Bitcoin, which could help further mainstream adoption.

## Why was Grayscale's BTC trust spot ETF approval denied?

Grayscale's BTC Trust Spot ETF application was recently rejected by the SEC. The reason behind the rejection is:

1) The SEC is concerned about Bitcoin's volatility and its potential to cause market instability.
2) The SEC is concerned investors would lack sufficient protections under the Grayscale proposal.

## Grayscale's legal action
 
In October 2021, Grayscale filed to have its Bitcoin Trust known as GBTC, become an ETF, but the decision was repeatedly postponed. Grayscale has increased pressure on the authority to support it, including by providing a means for individuals to email their support immediately.

In a petition, Grayscale promptly challenged the SEC's judgment to the U.S. Court of Appeals for the District of Columbia Circuit. Donald B. Verrilli Jr., a former solicitor general of the United States, is Grayscale's senior legal strategist and is leading a group of lawyers from Davis Polk & Wardwell in this case.

According to Verrilli, the SEC is "failing to apply consistent treatment to similar investment vehicles, and acting arbitrarily and capriciously in violation of the Administrative Procedure Act and Securities Exchange Act of 1934."

SEC Chair Gary Gensler has repeatedly stated that he wants to see greater control of cryptocurrency exchanges before authorising a BTC spot ETF.

The focus of investors and cryptocurrency experts will now shift to what Grayscale can and will do to secure permission for conversion. On June 27, CEO Michael Sonnenshein stated that the business will be "preparing for all possible post-ruling scenarios." On the same day, Grayscale also said that if its application were to be approved, it would work with market makers Virtu Financial and Jane Street to assist in turning GBTC into an ETF.

Stay tuned with [Moni Talks](https://monitalks.io/news) for the latest crypto news.


Grayscale sues SEC for denying BTC ETF approval

Best known as one of the top featured investors on Shark Tank, [Mark Cuban](https://cointelegraph.com/news/bear-market-will-last-until-crypto-apps-are-actually-useful-mark-cuban) believes that a greater emphasis on blockchain applications and utility outside of finance will bring more investors back to the crypto wealth apps space and perhaps reverse the market's decline. 

With so many crypto wealth apps focused on financial technology or collectables, launching a business-focused application would be one of such events that could inject positive sentiment back to the market.

## Mark Cuban crypto view- True value in crypto will only be realised when blockchain UX and utility is achieved 

Mark Cuban  anticipates a flood of consumers if something like a "decentralised version of Quickbooks," a small company accounting management software, debuts within the crypto wealth apps market. 

Mark Cuban crypto went on to say that [Bitcoin](https://monitalks.io/news/article/how-many-bitcoins-are-left-to-mine) is still not cheap, particularly when compared to the huge market capitalisation of other DeFi ventures. 

"When you look at market caps and see a billion-dollar-plus market value of $6 billion, $8 billion, or $40 billion, you don't think, 'that's inexpensive,’ Mark Cuban crypto added. In DeFi Summer, these products were trading for less than a cent, with market values in the hundreds of millions.”

> "There's no utility"

He adds that "there's no utility" even with smaller market cap cryptos, citing the decentralised exchange (DEX) SushiSwap (SUSHI) token as a relatively inexpensive investment with a $215 million market cap. But notes: Even if compensated as a liquidity provider, who will buy it from you and why?

He believes that mergers between multiple protocols and blockchains will eventually consolidate the crypto business and crypto wealth apps, as in any sector.
Mark Cuban crypto said he would instead work with someone who says, “Let's do a roll-up”. Stating that, he'd support a merger of various blockchains and move crypto wealth apps and communities to just one whilst offering a token exchange or bridge from the closing blockchains to port users over. 

When asked which of the crypto space's sub-sectors he was most enthusiastic about, Mark Cuban stated his interest in carbon offset DeFi tokens, which he burns to offset his carbon footprint.
He also added that: 

> "All of them have promise, that's why they received all this money, and all of them have a reason why they think they're superior and will do well".

For more crypto-related news, visit [Moni Talks](https://monitalks.io/news).




Mark Cuban believes crypto apps need better utility

Are you curious about the potential of [Cryptogrind](https://crypto-grind.com/) and its workings?

Cryptogrind is an easy and secure platform, helping users to find freelance services or pay for jobs using [Bitcoin](/coins/btc).
Almost everyone knows the potential freelancing carries for us, especially in the post-Covid era. The days are long over when it was considered only a $5 job. There's even the possibility of earning in crypto while doing freelance projects.

As a freelancer, the idea of Bitcoin freelancing can be quite lucrative. But, how do you land clients ready to pay you in Bitcoin?
A relatively easy option for you to find crypto-minded employers and freelancers in one place is Cryptogrind. It is a platform where you can offer your services to earn in Bitcoin. So, if you're wondering how it works and whether it's legitimate or not, here's a thorough Cryptogrind review!

## What does Cryptogrind do?

It is a freelancing platform, just like Fiverr or Upwork, but it deals in Bitcoin only. You can join it either as an employer or a freelancer to get services or get paid in Bitcoin. Users can offer any freelance services and can find jobs for it. This crypto jobs board covers all major domains like - digital marketing, graphic designing, writing, web designing, videography, and more.

Cryptogrind is an easy-to-navigate site with an intuitive interface. You can enter its directory and post or apply for jobs according to your skills. Besides, it provides a secure path for payments through Escrow. If you are a freelancer, you can enjoy its services for free. But, as a recruiter, you might have to pay a small amount for posting each job.

## Prominent features of Cryptogrind

The platform offers various features that will help you in your freelancing journey. And if you're an employer, finding resources would be a straightforward task for you on this platform. Here why you should consider giving it a try:

1.   Expanding jobs and freelancers directory
The platform offers you an expanding directory of both jobs and freelancers. It allows employers to post as many jobs as they want in a number of domains. And freelancers can register themselves for as many services as they like.
2.   Intuitive interface
Its user interface is quite user-friendly, meaning there's no necessity to be tech-savvy to work on this platform. And if you face any technical issue or payment disputes, its 24/7 customer support can help you resolve such concerns.
3.   Payments in Bitcoin
A unique feature of this platform is that all the payments here will be in Bitcoin. You will be able to secure jobs that pay you in Bitcoin and can get services by paying in Bitcoin. 
4.   Escrow secure transactions
The platform performs the role of an escrow between the employer and the freelancer. It allows transparent transactions by ensuring freelancers render services as per the agreement. It also assures that employers pay freelancers the agreed amount for their services.
The platform also has a multi-signature feature. This feature allows it to access the Bitcoin blockchain for payments. That’s why you won’t need to manage a hot wallet to keep your money secure.   
5.   Referral bonuses
Cryptogrind provides an extra earning opportunity through its referral program. If you introduce the platform to others, you might earn a 2% commission for each individual who starts using it.

## Is Cryptogrind still operating?

Unfortunately, Cryptogrind isn’t operating currently. According to its official Twitter account, the platform is going through some maintenance. There is no information about the measures the company is taking right now. There’s no specified time for its relaunch.

The platform has been working since 2014, but in 2021, it halted all its operations. It’s the main reason that has raised many questions about its legitimacy. People have lost trust in the ecosystem. Thus, many have moved towards Cryptogrind alternatives for consistent Bitcoin freelancing.

## Final thoughts: Is Cryptogrind legit?

Cryptogrind is one of the earliest names in Bitcoin freelancing. It has been in the business since 2014 and was a popular choice for both recruiters and freelancers. It offered a variety of features that helped in promoting Bitcoin freelancing. The platform enabled freelancers to create profiles and earn Bitcoin.

But, the platform has stopped its operations since 2021 for maintenance purposes. This made some people skeptical about its legitimacy. Nevertheless, many recruiters and freelancers have benefited from this platform. The security it ensures for transactions is another reason to trust the ecosystem. That’s why if it becomes functional again, it can be an excellent platform for Bitcoin freelancing.


Cryptogrind: Bitcoin Freelancing

Shares of Robinhood, a struggling stock trading platform, surged 14 percent on Monday after reports that crypto millionaire Sam Bankman-Fried's firm FTX is considering a possible acquisition of the company.
Amongst behemoths like Coinbase and Binance, FTX has also grown to be one of the most popular and largest ($10 billion average daily trading volume) cryptocurrency exchanges in the world. The UK market woke up to the news that FTX is "deliberating internally" on how to acquire Robinhood, Bloomberg reports.

It was around 3 p.m. ET when the news of FTX's possible interest in Robinhood came to light. About ten minutes later, trading had resumed. In a statement, Robinhood refused to respond to questions. A message left for FTX seeking comment was not immediately returned.
A takeover of Robinhood has not yet been formally approached by FTX, according to the sources, and the company has yet to make a final decision. In an email to Bloomberg, Sam Bankman-Fried (SBF) stated, "We are enthused about Robinhood's business possibilities and the possible ways we could collaborate with them. However, there are [no active M&A discussions taking place with Robinhood](https://www.reuters.com/markets/deals/bankman-frieds-ftx-seeking-path-buy-robinhood-bloomberg-news-2022-06-27/)”. 

Company documents show that Robinhood co-founders Vlad Tenev and Baiju Bhatt hold more than half of the company's voting power. Emergent Fidelity Technologies, a firm owned by SBF, purchased a 7.6 percent investment in Robinhood (HOOD) valued at $648 million in an SEC filing weeks earlier. The third-largest shareholder Emergent, a SBF founded company, was founded with the purpose of this purchase. Because it was "an attractive investment," the company stated in the petition. Subsequently, after the news was clarified the share price of HOOD started correcting towards market close yesterday. We will see if the sell off remains at the US market open.

This year, [Robinhood introduced a crypto wallet feature](/news/article/robinhood-crypto-wallet). It's been a rough year for investors in Robinhood, which has seen its stock fall by more than half since January, as the market struggles to recover from the fallout from the COVID-19 outbreak that made the business famous among retail "meme stock" traders.

According to Robinhood's first-quarter financial results released in April, the company lost $392 million. Annual revenue fell 43% to $299 million in the third quarter, and the business admitted that its monthly active user base had shrunk. The rapid expansion of the company's employees had resulted in job overlap and the company had to lay off 9% of its workers in that month.

## Can you use Robinhood and FTX in the UK?

Robinhood is registered with the SEC and only available for US citizens. There are no current plans reported by Robinhood to expand into the UK. "We are looking into the UK and thinking about expanding into the U.K. and we are just starting discussions with the FCA," Patrick Gruhn, head of FTX Europe told [CoinDesk](https://www.coindesk.com/business/2022/03/29/ftx-europe-in-talks-with-the-fca-to-expand-into-the-uk/) in an interview at the end of March.





FTX founder says no talks to buy Robinhood

The volume of internet searches for 'bitcoin scam instagram' has rocketed following incidents of accounts on the Meta platform being hacked.
[The Identity Theft Resource Centre (ITRC)](https://www.idtheftcenter.org/) reported a significant increase in victims of Instagram account takeovers linked to Bitcoin scams since October 2021.

According to ITRC findings, fraudsters construct Instagram posts regarding Bitcoin investments to entice other users. When a user clicks on the link, their money is gone, and their Instagram credentials are compromised.
The victim's Instagram account is then locked, and the account is utilised to post further links to phoney [Bitcoin](/coins/btc) investments.
This is what has sparked the rise in searches for 'bitcoin scam instagram' on Google.

You should never disclose your Instagram account passwords to anybody else. Use a strong password and two-factor authentication to secure your account. If an Instagram post appears too good to be true, it most often is.

Bitcoin Instagram scams and hacked Bitcoin Instagram accounts have been around for a long time. However, the ITRC is witnessing a considerable increase in victim queries concerning hijacked Instagram accounts. The Centre says it is now receiving four times as many reports each month than it has previously.

This heightened awareness is mirrored in the increased online interest in 'bitcoin scam instagram' searches.
According to the ITRC, fraudsters impersonate people their victims know to get personal information. Some victims are discovering that their Instagram accounts have been locked and that fraudsters are posting things in the hopes of defrauding others.

Some victims have complained that even if they did not submit their information to a scammer, they still had a hacked account or account takeover. While it appears that users are being targeted in numerous ways to get login information, their account information may also have been accessed using information from breaches, including Facebook login information, especially if the username and password were never updated.

The ITRC has also seen victims have their accounts faked using their public photos. Cybercriminals then track the victims and send them communications containing a scam or harmful link.

There are steps you can take to protect yourself:

•	Never give out your password or any other sensitive information to anybody
•	Make sure your password is difficult to guess
•	 On your account, enable two-factor authentication (2FA). Go to "Settings," "Security," and then "Two-Factor Authentication" to enable 2FA on Instagram. Tap "Get Started," then either "Authentication App" or "Text Message." Because SMS messages can be faked, the ITRC suggests using an authentication app
•	Check that the email address linked with the account is safe. It is also a good idea to use 2FA to safeguard your email
•	Third-party apps should not be downloaded through a social networking platform. Download software only from Apple, Google, and Microsoft's official app stores

You can contact the ITRC to learn more about stolen Instagram accounts and what you can do to secure the information that a fraudster may have access to.

Bitcoin Scam Instagram: Why this Phrase Matters

According to reports, Goldman Sachs, one of the world's largest financial organisations, has begun exploring the idea of purchasing assets from the crypto lending company Celsius Network, a company with deleveraging complications contributing to the crypto bubble chart as seen in the market of late. They are reportedly working on a $2 billion acquisition deal. 


## Goldman Sachs's involvement in the Celsius acquisition


Goldman Sachs has begun an industry-wide interest aggregation by identifying interested investors and obtaining significant commitments from them. 

According to a Goldman Sachs survey, insurers are exploring the idea of cryptocurrencies. According to the study, 6% of the three hundred and twenty-eight chief investment officers and chief financial officers had invested in or considered investing in cryptocurrency.

According to sources, [Goldman Sachs](https://watcher.guru/news/goldman-sachs-is-raising-2-billion-to-buy-celsius-network-assets) had targeted investors in Web3 crypto funds that specialise in distressed assets and traditional financial institutions. Majority of Celsius assets would most likely be cryptocurrency managed by participating investors. 

However, the CEO of a cryptocurrency trading platform remarked that unless Goldman Sachs explicitly states that they are purchasing Celsius, we should take the claims with a pinch of salt. It could simply be a PR stunt. 

Before its problems, Celsius was one of the top crypto lenders, with roughly $12 billion in assets under administration and 1.7 million members.


## Celsius CEO on the run after contributing to the crypto bubble chart 


A well-known cryptocurrency investor and analyst recently tweeted that Celsius Network CEO Alex Mashinsky was on the run and attempted to flee the USA this week via Morristown Airport before being detained by police. Currently, it is unknown whether he was banned or arrested. 

Celsius CEO Mashinsky was going to leave for Israel; while claiming that the monies were secure, [Celsius Network halted consumer withdrawals](/news/article/celsius-crypto-freezes-withdrawals). It was a significant contributor to the negative sentiment and herding behavior of mass selling resulting in the  second of the two crypto bubbles we have seen. Mashinsky has remained silent since then, and there is no indication of when the customer monies will be returned.


As of 8:56 a.m. (BST), the Celsius crypto bubble chart price is $0.79, a change of -20.60 per cent in the previous 24 hours. The current price movement in Celsius has resulted in a market capitalisation of USD 547,793,645.88. Celsius has changed by -82.59 per cent so far this year. Bitcoin plummeted 14% on Monday after a prominent cryptocurrency lending firm in the United States, Celsius Network, halted withdrawals. 

The Celsius crypto bubble chart price move spurred a sell-off in cryptocurrencies, with their value falling below $1 trillion for the first time since January 2020, raising concerns that the collapse may spread to other assets or firms.

For more crypto business news, visit us at [Moni Talks](/news/category/crypto-business-news).


How Celsius blew up the crypto bubble chart

The UK parliament member, Matt Hancock urged the issue of Bitcoin’s necessity of having an open [regulatory framework](/news/article/crypto-tax-uk) that resulted in a crypto analyst positive stance on the sector.

Hancock recently revealed that even though the crypto market did go through a huge sell-off, that hasn’t shaken his faith in the sector. 

Regarding the recent crash of the cryptocurrency terra (LUNA) (UST), he said that this was just something that happens even in the mature markets.

“The crash of Luna and the pressure on other stablecoins serves as a reminder that cryptocurrencies are still currencies and the age-old rules of finance still apply,” he opined and compared the situation with the dot-com bubble crash in 2001.

“The underlying technology is so powerful … Just because the dot-com bubble crashed in 2001, we didn’t discredit the internet as a technology,” he concluded.

“No country can stop this revolution. We can only choose whether it happens on our shores or happens to us from elsewhere,” he commented and added that the UK can succeed only if and when it decides to embrace the new technology.

This also means, said Hancock, that the government has to be able to adjust to crypto because, in liberal governments, no one should tell “people what they can and can’t do with their money”.

“The job of the regulators is to make sure there is high-quality information and that the market functions effectively. What remit does the state have to tell them what they can and can’t invest in? I think that’s incredibly patronizing, ”Hancock asserted.

Aligned with Hancock’s sentiment, the crypto analyst Madeleine Hume also believes that [crypto integration](https://www.morningstar.co.uk/uk/news/220381/5-charts-on-crypto%2339%3bs-past-present-and-future.aspx) is crucial. “Rather than a swift takeover, we expect that integration with existing systems across financial services and other sectors will likely determine future adoption rates in the space,” she commented.

Hancock is no stranger to being a [crypto advocate](https://www.monitalks.io/news/article/crypto-tax-UK). He is famous for his claims that crypto regulation can be fantastic for the growth of the overall economy but also for making financial systems more transparent and reducing crime. 

“We must understand and harness the potential of new technologies, not fear and avoid their disruptive power,” he said.

Still, he admitted he hasn’t invested in cryptocurrencies himself explaining that he wanted to “speak freely” about it without fear of having a conflict of interest.


Crypto analyst view correlates with UK parliamentary sentiment

The Singapore crypto scene is one of the main attractions in the unregulated digital currency landscape due to the country’s friendliness towards the new financial revolution. 

Unfortunately, the country’s regulator’s tightening on digital finance in[ June](https://cointelegraph.com/news/brutal-and-unrelentingly-hard-singapore-regulator-s-clampdown-on-crypto) contradicts Tharman Shanmugaratnam, a senior minister in the Cabinet who saw a lot of positives in digital assets in the sovereign island country and this has sent shockwaves across the markets. 
On Thursday, June 23, the central bank and financial regulator of one of Asia’s booming economies pledged to be unrelentingly hard and brutal on any transgression from major stakeholders in the digital currency industry. 

These comments were made by Sopnendu Mohanty, the Chief Fintech Officer of the Monetary Authority of Singapore (MAS) who explained in an interview with the Financial Times (FT) which was highly monitored by [MoniTalks. ](/news)

The Fintech Officer also criticized market participants who believe the country is losing its status as a friendly state for alternative finance. 
He responded that his country should not be friendly with decentralized finance because it can only deal with actors in a real economy and not some “unreal economy”.

To many firms in the space, this is a complete turnaround from what cabinet minister Shanmugaratnam said in October 2021. 
At the peak of the markets during the first month of the last quarter of 2021, he pointed out that digital tokens may have a role in future finance that goes beyond illicit finance and pure speculation. 

He added that the country was laying the foundation for becoming a crypto-technology hub which will make it easy for tokenization, trading, and custody services to be provided by companies. 

With that said, Chief Fintech Officer, Sopnendu Mohanty believes the current financial crisis can be attributed to the world being lost in private currency. 

As a result, the Asian state has enacted a painfully slow due diligence process that grants licenses to businesses associated with the digital currency market. 

Singapore crypto became a mainstay in the space because firms enjoyed low taxes. 

Unfortunately, the view in which the minister sees a place for crypto in the Asia hub has been replaced by regulations that aim to pave the way for the introduction of central bank digital currency (CBDC) which could be launched in the next three years. 


Singapore Regulator’s Clampdown on Crypto

Commenting on crypto tax, UK Conservative MP Matt Hancock said that the country needs to be more liberal in its approach to regulation. He argued it should introduce an “attractive” regime so it can maintain its position as the cryptocurrency hub of Europe. 
“The tax and regulatory regime needed to be dealt with quickly”, Hancock stated.

His words were heard by the ex-Chancellor Philip Hammond who said England is slowly trotting after its competitors regarding the regulation of digital assets since some countries, such as Korea, already decided on a [crypto tax](/news/article/south-korea-crypto) that would be optimal for consumers.
He stated the UK must activate itself quickly since, for now, it doesn’t look like it will maintain its position as a global cryptocurrency center.
 “It isn't too late for us to catch up and recover, but we are getting very close to the point where it will be too late,” he said and added development around legislation of the whole digital asset industry moves pretty slowly. 

Hammond stated that the FCA should have been faster in employing the industry experts. “We need the industry, to provide us with the talent to work up the regimes we need to introduce,” he said.


## Crypto tax, UK free zone

Still, there are more possibilities and reasons why we think the UK could become the real global hub when it comes to cryptocurrencies. Let's look at the advantages of being headquartered in the UK Channel Islands. The [Isle of Man](https://www.digitalisleofman.com/sectors/blockchain/) gives investors a pretty good opportunity for their crypto-based, with 0% standard rate of corporate tax, no capital gains tax and personal tax rates that are among the lowest in Europe.

The self-governing British Crown dependency has been a famous IT and financial hub for years and with it being more welcoming towards the cryptocurrency industry – UK Channel Islands seem like an attractive home to the crypto participants.

Also, according to a new PwC Channel Islands report, one in five British citizens already own cryptocurrency. With that in mind and Tether recently [launching a stablecoin pegged to the British pound](/news/article/best-crypto-exchange-uk)  - these are supportive signs that the UK that bodes well for the future prospects of the UK being a crypto hub.



UK tax environment supportive for crypto hub 

Is [Bitcoin Prime](https://bitcoinprimeapp.com/) scam or legit? That's the question investors have been asking after promises of huge returns for little work.
Bitcoin Prime is a trading bot that employs sophisticated artificial intelligence (AI) algorithms to make automatic trades on your behalf. It has a claimed 90%winning rate, per its official website, and the software is completely free to use.

All you have to do is to pay a small fee in commission only when you win. Due to the controversies such as scams and hacks miring the crypto finance market, many people ask, is Bitcoin Prime worth your time and money?
This article looks at all the essential details you need to know about this crypto trading robot.

## What is Bitcoin Prime?

Bitcoin Prime is reputed to be a cryptocurrency trading service that detects trading opportunities in the cryptocurrency markets. Once profitable setups are found, Bitcoin Prime automatically places trades on your behalf.

Because it markets itself under its AI algorithm, its success largely depends on it. Although it has been difficult for software engineers to identify the details of Bitcoin Prime's algorithm, many experts believe it sources data from technical analysis patterns that several day traders use to make money.
Despite being accessible to everyone with internet access, you need $250 as an initial deposit before you make real profits using Bitcoin Prime.
The platform’s revenue comes from charging a 2% commission on profitable trades.

You should note that you would not be subject to commission fees if your account does not turn profits.

## How Does Bitcoin Prime Work?

Despite the phrase 'Bitcoin Prime scam' trending online, it appears to be a legitimate project, and this is how it works.
The crypto trading robot tracks the price movements of 14 different digital assets. They are Binance Coin (BNB), Ripple (XRP), NEO, EOS, Miota (IOTA), Cardano (ADA), Ethereum Classic (ETC), DASH, Zcash (ZEC), Bitcoin Gold (BTG), Bitcoin Cash (BCH), and [Bitcoin (BTC)](/coins/btc).

Once the algorithm detects a price pattern in any of the aforementioned assets, a trade will be triggered.
An order will be entered into your account, which will be monitored, and the position will be closed once the trade expires.
Once done, your funds and any profits will be returned to your account.

Like certain exchanges, such as eToro, Bitcoin Prime provides a demo account. This helps you familiarise yourself with its AI algorithm.
Bitcoin Prime does not store your funds in their wallet. For the purposes of credibility, funds are held in the accounts of a third-party broker. As a result, while Bitcoin Prime can issue orders for the execution of trades, it does not have access to your funds.
You can withdraw funds within a few hours if you are not satisfied with your trading activity.

## Pros and Cons of Bitcoin Prime? 

While the crypto robot offers a unique innovation that has made trading highly volatile assets such as cryptocurrencies easy, it is not a perfect system.
One of the pros of Bitcoin Prime is that it lists several cryptocurrencies for trading. Also, it does not take a huge part of potential profits. A 2% commission fee is relatively lower than some of the fees charged on certain cryptocurrency exchanges.

What’s more, Bitcoin Prime’s association with third-party brokers in executing contract-for-differences (CFDs) shows a commitment to staying up to speed with the space.
The trading service's demo account converts novices to experts, resulting in rave reviews by past and active users of the platform.
With that said, Bitcoin Prime does not offer a mobile application. One of the pros of cryptocurrency exchanges is their accessibility on smart devices powered by Android and iOS. This has made it easy for traders to buy and sell cryptocurrencies.

Aside from that, the minimum deposit for being a customer of the trading service is $250. Several cryptocurrency exchanges have minimum deposits that range from $1 to about $50.

Bitcoin Prime's deposit requirement is five, 10, 15, or even 20 times that of some.

When it comes to answering the questions 'Bitcoin Prime Scam or Legit?' you should conduct your own research.
 
 


Bitcoin Prime - Scam or Legit?