Since 2018, distributed ledger technology has seen a boom in [DeFi ](/articles/learn-moni/what-is-a-defi-token)(decentralised finance) industry. There have been numerous projects that have reimagined traditional financing, including Cake DeFi.

Among these projects, the idea of allowing investors to earn tremendous yields through [crypto staking](/news/article/what-is-staking-crypto) is quite popular. One leading platform in this regard is [Cake DeFi](https://cakedefi.com/) - an innovative platform for investors that offers various services to generate passive income.

This guide will take a deeper look at its ecosystem and how it works. We will also explore how you can leverage its unique offerings!

## Cake DeFi: A quick overview

Cake DeFi is a rapidly expanding project that makes services relating to decentralised finance more accessible. It is a[ Singapore](/news/article/coinbase-singapore-approval)-based fintech firm that was founded in 2019. Popular crypto influencers Julian Hosp and U-Zyn Chua founded the firm intending to promote cryptocurrency usage. Being a Singapore-based firm, it complies with the [crypto regulations](/news/article/crypto-regulations) of the Monetary Authority of Singapore (MAS). Besides, it claims to be a transparent firm that allows investors to gain high returns. It has its [DApp](https://app.cakedefi.com/welcome), through which you can avail of various income-generating offerings. Its primary offerings include staking, liquidity mining, and lending. Meanwhile, services like Cake Freezer and investment options in decentralised assets also exist.

## How does the platform work?

Though it is named a decentralised finance platform, it operates as a custodial portal. Its ecosystem is built on the Chain blockchain, which allows seamless trading. Also, the native token of [the Chain](/news/article/bnb-chain-security-system), DFI, is used for distributing incentives and rewards. Moreover, it works on the Proof-of-Stake [(PoS)](/news/tag/pos) consensus mechanism for generating new blocks. It allows better throughput and is more energy-efficient than Proof-of-Work [(PoW)](/news/tag/pow).

The platform gives you a variety of financial products to assist you in investing. Moreover, it also supports various digital assets, so you get numerous options.

## How to use Cake DeFi?

Let’s look at how you can use Cake DeFi’s services:

###  1. Staking

In the PoS ecosystem, you can stake tokens in nodes to validate transactions. The Cake also offers this service, and here you have two options for [staking](/news/article/gemini-staking-support-launches). The first is the native token, DFI, and the second is the DASH token. Against these two, you can earn profits.

### 2. Liquidity mining

Liquidity mining pools are another option through which you can generate yields. You have to pick a pair of cryptocurrencies with DFIs and enter your preferred amount. It may give you an upward of up to 68%. Also, there is no complicated procedure for collecting rewards, as they will be directly transferred to your wallet.

### 3. Lending

You can further boost your cash flows through its lending feature. It includes lending of [Bitcoin](/coins/btc), [Ethereum](/coins/eth), [USDC](/news/article/circle-usdc), and [USDT](/news/article/trending-crypto-coins). It offers a risk-free and transparent procedure through which you can gain lucrative bonuses.

To earn profits, you have to deposit the supported cryptocurrencies. These assets are locked on the platform for about a month and divided into lending batches. One batch ends in 28 days, from Friday to Friday. After this period ends, you can continue with the next batch or withdraw your returns.

### 4. Asset freezing

Its asset freezing is another option to get higher returns. You have to lock your desired DFI tokens for at least a month. Against this amount, the platform generates yields, giving you a regular cash flow. Also, through this, you can get a markdown of up to 85% on fees.

### 5. Investment in assets

Lastly, you can also invest in various decentralised assets on this platform. These are referred to as dTokens, and you can mint them on the Chain network. These assets are unique as their prices are related to real-world possessions like stocks.

## Final take

Cake DeFi appears to be one of the most secure and transparent platforms. It offers various financial products through which you can maximise your yields. Its staking, liquidity mining, and [crypto lending](/news/article/crypto-lending) features can generate regular cash flow. Also, you can invest in real-world assets through this platform.

Cake DeFi 101: The Ultimate Guide

A [press release](https://www.gov.uk/government/news/cryptocurrency-trading-firm-shut-down-after-scamming-investors) issued by UK authorities has confirmed that cryptocurrency trading firm PGI Global UK has been shut down by the High Court.

The announcement from the UK Government was published yesterday (27 October). It was released by The Insolvency Agency, which is an executive agency sponsored by the Department for Business, Energy, and Industrial Strategy.

## PGI Global promised 200% returns

Between July 2020 and February 2021, the UK-based business gathered around £612,000, or $710,000, from potential investors. It told these investors that their investments in the firm would provide a 200% return. When it failed to keep its commitment, it forbade its investors from withdrawing their money.

Investigations discovered that the business utilised three accounts to collect the payments. As a result, PGI had allegedly diverted about £200,000 by paying no less than £195,000 to personal accounts and £10,000 to a luxury department shop.

## Director fails to comply

According to the Court, Ramil Ventura Palafox, the company's only director, refused to participate in the [inquiry](/news/article/token-sniffer-threats) into the charges. 
Furthermore, Insolvency Service Chief Investigator Mark George emphasises that limited liability safeguards need compliance with the Companies Act by both companies and individuals. 

He adds that this case demonstrates that if we have legitimate concerns about a firm's trading practices, the court will take a poor view of any failure to cooperate with a statutory investigation and will wind up with the company in the public interest. 

## Background

PGI UK is a subsidiary of Praetorian Group International Trading, which is in the United States. After obtaining a seizure warrant from the US District [Court](/news/article/xrp-court-case-update) for the Eastern side of Virginia, the US Department of Justice closed the corporation.

According to a Chainalysis [analysis](https://blog.chainalysis.com/reports/2022-crypto-crime-report-introduction/), cryptocurrency-related crime hit an all-time high in 2021, with illegitimate addresses collecting $14 billion, up from $7.8 billion in 2020. In contrast, according to another Intelligent CIO [analysis](https://www.intelligentcio.com/me/2022/08/22/crypto-criminal-activity-has-fallen-in-2022-with-illicit-cryptocurrency-volumes-down-15-yoy/), illicit cryptocurrency volumes fell 15% year over year in 2022, owing to a decline in crypto-criminal activities.



PGI Global Closed by UK High Court

According to an October poll conducted by US asset management firm [Charles Schwab](https://pressroom.aboutschwab.com/press-releases/press-release/2022/Schwab-401k-Study-Finds-Millennials-and-Gen-Z-Take-Advantage-of-Broader-Range-of-Retirement-Resources-Than-Previous-Generations/default.aspx), over half of Gen Z and Millennials want crypto to be in their 401(k) retirement plans. 

When the business asked participants what they wanted to add to their 401(k) retirement products, [46% of Gen Z and 45% of Millennials](https://www.investing.com/news/cryptocurrency-news/almost-50-of-gen-z-and-millennials-want-crypto-in-retirement-funds-survey-2921428) indicated they hoped to invest in crypto as part of their financial planning. 

It's hardly surprising, given that 43% and 47% of Gen Z and Millennials are already investing in cryptocurrencies outside their 401(k), indicating their fondness for the asset class.

The asset management firm asked 1,100 401(k) members aged 21 to 70 to take a 10-minute poll between 4 April and 19 April, 2022.

## Who qualifies for a study on crypto retirement funds?

Participants in the study had to have worked for a firm with 25 or more workers and be current 401(k) plan participants. 

Millennials are individuals born between the early 1980s and the mid-1990s. Gen Z is those born between the mid to late 1990s and the early 2010s. 

The percentages contrast sharply with individuals born between the mid-1940s and the late 1970s, with only 31% and 11% wishing to invest in cryptocurrencies, respectively.

## What could challenge the success of the crypto retirement fund? 

Inflation is seen as the major deterrent to pension success. Fidelity Investments reportedly [put plans in place](/news/article/fidelity-crypto-increase) in April to allow Bitcoin investing for its 401(k) retirement saving account holders, with investors permitted to deploy up to 20% of Bitcoin to their savings portfolio. 

[Rest Super](https://rest.com.au/super/super-products/rest-super) was the first pension fund in Australia to provide Bitcoin allocation to its 1.9 million members in November 2021. 

A [Quebec pension fund](https://www.reuters.com/markets/us/canadian-pension-fund-cdpq-explores-legal-options-over-failed-crypto-firm-2022-08-17/) lost nearly all of its $154.7 million investment in the now-defunct cryptocurrency [lending platform Celsius](/news/article/celsius-data-breach). Controversies like these have split US Senators on the magnitude of the dangers associated with crypto-exposed 401(k) retirement plans.



Crypto Retirement Fund Popular with Millennials

[Pillow](https://www.pillow.fund/) Fund intends to be a one-stop shop that enables even beginner users to save, spend, and invest in cryptocurrencies.

The Singapore-based startup revealed that it had secured $18 million in Series A funding, which was co-led by Accel and Quona Capital with contributions from Elevation Capital and Jump Capital.
 
More than 75,000 users in more than 60 countries are using the app. It currently supports ten digital assets, including Bitcoin, Ethereum, [Solana](/news/article/block-asset-nft-platform), Polygon, Axie Infinity, and the stablecoins USDC and USDT pegged to the US dollar. It intends to support more than fifty digital assets shortly.

Arindam Roy, Rajath KM, and Kartik Mishra founded the company in 2021, focusing on developing markets in places like Africa and Southeast Asia.

According to the company's founders, since the start of the year, its user base has increased by 300%, and assets under management have increased by 5x. It recently expanded into Nigeria, Ghana, Vietnam, and other markets.

## Pillow Fund purpose

Pillow Fund's purpose is to make [cryptocurrency](/articles/learn-moni/cryptocurrency-trading-strategies) usage more understandable. The Pillow team had to address a few significant issues to accomplish this. The first is awareness because most people still believe cryptocurrency is only about buying and selling Bitcoin without understanding other use cases. The second is complexity, as fully utilising cryptocurrency requires knowledge of bridging, gas fees, and blockchain technology.

Pillow addresses these issues by streamlining cryptocurrency investments, transactions, and savings through single-click daily interest savings and instant swaps. It intends to do the same for other cryptocurrency services, such as payments.

## How to use Pillow Fund

Using the email id, users can sign up for their Pillow account. The second step is to provide KYC data (such as live selfie photos and national identity cards). Before deciding which digital assets to deposit or invest in, users are given a brief lesson on the possible risks associated with doing so. Another lesson about the potential risks associated with that asset before making their initial investment is also given to the user.

After that, the user can add cryptocurrency on this platform by sending a transfer to the displayed crypto wallet address from their own wallets or another cryptocurrency platform. Users can also purchase cryptocurrency using their local fiat currency in some nations where Pillow has partnered with local, compliant on-ramp service providers.

The company also accepts fiat currency deposits and withdrawals through local partnerships in Nigeria, the Philippines, and Vietnam, with plans to expand further across Southeast Asia, Africa, and Latin America with its new funding.


pillow fund wants to make crypto easy for new users

Pillow Fund makes crypto easy for users

Shawn Corey Carter, better known as Jay Z, is a multi-platinum selling hip hop artist widely regarded as the most influential rapper. He is also considered an extremely successful businessman, having founded several multimillion-dollar corporations, including Rocawear, a clothing firm with more than $700 million in annual sales. He is known for collecting fine art and mentioned artists like Picasso in his songs.

## Jay Z's Cryptopunk Twitter profile picture

[Jay Z's Twitter profile picture](https://twitter.com/sc) has been changed to a CryptoPunk NFT that he bought from OpenSea for $126,000; the punk replicates his iconographic hair. 

![jay z 1.png](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/jay_z_1_b82cdaa19e.png)

Jay Z paid 55 ETH for one of the 10,000 CryptoPunks on April 25. This punk has an African American male wearing a gold chain, a feature that few punks have. His Twitter accounts profile picture changed on June 25.

## Jay Z drops his Reasonable Doubt as NFT.

Jay Z collaborated on creating an NFT with Derrick Adams, a multidisciplinary artist and professor at Brooklyn College. Adams' work takes many forms, including painting, collage, sculpture, performance, video, and sound installations. 

Derrick Adams designed an NFT celebrating Jay Z's debut album 'Reasonable Doubt' on its 25th anniversary. The NFT featured captivating imagery and animated elements and was sold at Sotheby's for $139,000. The physical artwork is also owned by Jay Z. A portion of the profit was donated to The Shawn Carter Foundation.

![jay z 2.png](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/jay_z_2_311b18b9ca.png)

Derrick Adams created the work in his fragmented style. He was able to animate certain aspects of the piece in the NFT version, such as creating a red glow for the cigar Jay Z is holding, making signature diamond jewellery sparkle, and manipulating the smoke from the cigar to transform into the number 25. The piece incorporates many elements from the original 'Reasonable Doubt' album cover. It also adds a unique twist with advanced animations.

Sotheby auctioned off the piece- one of the leading fine art auction houses, from June 29, 2021, to July 3, 2021, bidding starting at $1,000. The auction took place concurrently in the popular blockchain game-Decentraland's Voltaire Art District.

## Jay Z sued Damon Dash

Jay Z co-founded the record label Roc-A-Fella Records (RAF) with Damon Dash, an entrepreneur who has appeared in films and is a successful record executive.

Jay Z sued Damon Dash for attempting to sell the 'Reasonable Doubt' NFT. Damon Dash holds a small portion of the record label, and his lawyers have stated that he lacks the authority to sell a company asset unilaterally.

Damon Dash attempted to sell the NFT by partnering with the NFT marketplace platform SuperFarm. As a result, RAF lawyers advised SuperFarm to cancel the auction. According to the record label, Dash was still looking for alternative marketplaces to sell the NFT.

As of 2022, Damon Dash and Jay Z have decided to settle their legal cases. Dash is not allowed to "in any way dispose of any property interest in 'Reasonable Doubt,'" even though he is still allowed to sell his one-third ownership in Roc-A-Fella in the future.

## Influence of Jay Z in the NFT space

Jay Z is a well-known musician who has founded numerous profitable businesses. He is also regarded as a wise investor. He is one of the few pop culture figures indulging in the crypto industry. As time passes, more influencers, athletes, and musicians are entering the blockchain world.

Jay Z CryptoPunks Twitter profile photo's continued use is probably making many musicians wonder how NFTs can be applied to the music industry.

As an investor, he has made several significant pre-IPO investments, including Uber. More recently, he invested $19 million into Bitski, a platform for buying and selling NFTs through a secure wallet.

Bitski has the potential to be a powerful NFT marketplace for musicians and record labels looking to sell albums as NFTs. Bitski is also compatible with [blockchain](https://news.monitalks.io/articles/learn-moni/what-is-blockchain)-based games. Other artists and musicians may get influenced by Jay Z NFT investments as he has proved himself to be a successful investor.




Jay Z invests in cryptopunk NFT and Bitski

A blockchain record connected to a specific digital or physical asset is a non-fungible token (NFT). An NFT's ownership is documented in the blockchain and is transferrable by the owner, allowing the sale and trading of NFTs. If you've ever played games like CryptoKitties or Axie Infinity, you're familiar with these unique digital assets.

A top-tier NFT collection will exhibit the qualities like frequently appearing on the leaderboards for sales, must have a well-known brand in the industry, and its parent corporation must have a solid financial foundation.

In the future, digital collectables will represent some of the most sought-after items on the internet, but with so many in existence, how can you find and identify the rarest NFTs? In this guide, we'll introduce you to the top blue-chip NFTs in existence today so that you can acquire and store these digital treasures as early as possible in their life cycle.

## What is a Blue Chip NFT?

A blue-chip NFT is a well-established NFT asset with a strong team, great vision, impeccable execution, and a great name in the industry that distinguishes it from the other NFTs. The advantage of having it is that it is much more valuable than a regular NFT. In addition, these NFTs are rarer and more exclusive. For these reasons, they are becoming increasingly popular among collectors and investors.

Investing in a blue chip NFT may depend on whether you're seeking to diversify your portfolio or get better returns on your money. If you're looking for better returns on your money with less volatility, then investing in these collectables might make sense. Ultimately, these kinds of investments in digital assets are relatively new and have high risks associated with them, but if done right, they can provide substantial returns in today's economy.

## Why should you invest in a blue-chip NFT project?

Investors frequently seek out blue chip NFTs because of their long-term financial sustainability. While many projects fail after a few months, these hold their value over time. Even in bearish market conditions, the average price of BAYC is now hovering around 100 ETH.

Many people consider owning a blue chip NFT to be a sign of success, and being "part of the gang" is akin to joining a club of wealthy investors and social elites.

While these NFTs are not exclusive, owning one may grant holders intellectual property rights and the ability to commercialise their NFTs in some ways. Doodles NFTs, for example, allow owners to commercialise their NFTs for up to $100,000 each. As long as you own BAYC or CryptoPunks NFTs, you can build a business around them. NFTs are thus more than just a profile picture (PFP).

Furthermore, some of the best NFT projects will occasionally give back to their holders. Using the BAYC NFT as an example, in March 2022, the project allowed owners to claim ApeCoin tokens for free. Holders can immediately sell their tokens on the open market after claiming them.

## What are some of the best Blue Chip NFTs?

The world of NFTs is rapidly evolving, and blue-chip NFTs are at the forefront of this digital revolution. These NFTs are digital collectables that major brands and organizations back. The best examples include the Bored Ape Yacht Club, CryptoPunks, NBA Top Shot, and Art Blocks. Let’s go through some of the renowned blue-chip NFTs.

### 1.	Bored Ape Yacht Club

The non-fungible token collection, Bored Ape Yacht Club, also known as [Bored Apes](/news/article/how-to-buy-monkey-nft) or Bored Ape, was developed on the Ethereum blockchain. Cartoon apes' profile images are created procedurally by an algorithm and are included in the collection. Yuga Labs is the parent organisation of Bored Ape Yacht Club. Each Bored Ape is distinct and computer-generated. It features more than 170 different qualities, including expression, headgear, attire, and other characteristics. All apes are rarer than others, but they are all amazing.

The apes are hosted on IPFS and kept as ERC-721 coins on the Ethereum network. 

Apeholders must be logged into their Metamask Wallet in order to access places that are exclusively accessible to members, including THE BATHROOM.
 
### 2. CryptoPunks

There are 10,000 randomly generated characters in the CryptoPunks. No two are exactly alike, and each can be claimed as the sole owner on the Ethereum blockchain. On the Ethereum network, CryptoPunks is a collection of non-fungible tokens. The Larva Labs studio, a two-person team, made up of Canadian software developers John Watkinson and Matt Hall, debuted the project in June 2017.
 
### 3. VeeFriends

The NFT collection of Gary Vaynerchuk is called VeeFriends. You can immediately access VeeCon and join the VeeFriends network by owning a VeeFriend NFT. 

VeeCon is open to all holders of VeeFriends tokens. VeeCon is a multi-day gathering that is only open to NFT holders. You will receive a three-year access pass from your NFT. The conference's main themes are business, marketing, ideas, creativity, entrepreneurship, innovation, competition, and fun.
 
### 4. Azuki

Azuki is the NFT Art collection of 10,000 anime-themed avatars that was launched in January 2022 on the Ethereum Blockchain. The rarity of these avatars is determined by their distinct set of characteristics, weapons, and backgrounds.
 
### 5. Doodles

[Doodles](https://doodles.app/) NFT is a collection of 10,000 hand-drawn doodles. Each one is a one-of-a-kind combination of hundreds of exciting visual traits designed by one of the founders. There are skellys, cats, aliens, apes, and mascots in the collection, as well as dozens of rare heads, costumes, and colourways.
 


What are Blue Chip NFTs?

The much-anticipated upgrade to Ethereum, the merge, was completed on [September 15](/news/article/ethereum-merge-date). It transformed the blockchain’s Proof-of-work (PoW) mechanism into Proof-of-Stake (PoS). The market experts were optimistic that this upgrade would positively influence the Ether price. However, it has not been the case as the [Ethereum](https://ethereum.org/en/) price is continually plunging after the merger. 

Perhaps, the reason could be the overall downturn of the crypto market. Bitcoin is also struggling to maintain a price of over $20K. Besides, its worth even dropped under $19K this month. This has affected the entire crypto market, including Ether. Nonetheless, there are several other triggers, too.

## Ether’s nosedive after the merge

ETH was steadily thriving in the last three months when the BTC price struggled to hold its ground. In comparison to BTC, ETH saw a surge of around 60%. However, after the Ethereum merge, it [dropped](https://www.benzinga.com/markets/cryptocurrency/22/09/28917798/bitcoin-ethereum-nose-dive-445m-liquidated-from-crypto-market) significantly. 

Five days before the upgrade, Ether’s price was approaching $1,800. Even up to September 14, Ether was trading at over $1,600. But as it completed the upgrade, it lost over $300 in value. It saw a drop of almost 21% in the last seven days, showing worrying signs for Ethereum investors.

## Ether’s nosedive after the merge

ETH was steadily thriving in the last three months when the BTC price was struggling to hold its ground. In comparison to BTC, ETH saw a surge of around 60%. However, after the Ethereum merge, it [dropped](https://www.benzinga.com/markets/cryptocurrency/22/09/28917798/bitcoin-ethereum-nose-dive-445m-liquidated-from-crypto-market) significantly. 

Five days before the upgrade, Ether’s price was approaching $1,800. Even till September 14, Ether was being traded at over $1,600. But as it completed the upgrade, it lost over $300 in value. Besides, in the last 7 days, it saw a drop of almost 21%. This shows worrying signs for the Ethereum investors.

![ethereum merge.png](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/ethereum_merge_0d3a08eff4.png)

## Ethereum the merge: Investor sentiment 

Disappointing US economic indicators such as high inflation, looming imminent [securities regulation that may apply to Ether staking](/news/article/ether-staking), and a market downturn have negatively affected crypto investor sentiment. After the completion of the Ethereum 2.0 upgrade, the selling pressure increased. Many investors chose to liquidate their funds while the price was high to protect themselves from potential losses. 

Even after this event, ETH investment products saw tremendous outflows. Ether threw up $15.4 million in outflows. However, this was not a market-wide trend, as BTC saw an addition of around $17.4 million in investment in the same period. Time will tell if the Ethereum price has been merely affected by hawkish sentiment or if the Merge is not worth the hype.



Ethereum the Merge: Price plunge & investor sentiment

The recent market sell-off has taken a toll on just about every sector, but some have been hit harder than others. For example, the tech-heavy Nasdaq is down nearly 7% from its high just two weeks ago.

One area that has been particularly hard hit is the red-hot sector of cloud computing. Companies like Amazon (AMZN), Microsoft (MSFT), and Salesforce.com (CRM) have all seen their stock prices drop by double digits in the past two weeks.

And while the sell-off in these stocks may have been overdone, it has left investors wondering if now is the time to buy or if there could be more downside ahead.

One cloud stock that has been especially hard hit is MetaPlatforms (MP). The [Meta share price](https://finance.yahoo.com/quote/META/) has dropped by more than 50% over the last 12 months.

So, what’s going on with MP? And is the recent sell-off an opportunity to buy the dip or a sign that there could be more downside ahead?

Let’s take a closer look…

## What’s Going on With MP?

Meta Platforms is a cloud-based enterprise software company. Its flagship product is [Metaverse](/news/article/facebook-metaverse-nft), a digital workspace that allows employees to securely access all of their applications and data from one central location. The company has seen strong demand for its product as more and more businesses move to the cloud. 

However, the company reported second-quarter revenue of $169.5 million, down 4% from a year ago and below the $172.3 million that analysts were expecting. Meta also posted a net loss of $11.1 million, or 9 cents a share, compared with a profit of $2.2 million, or 2 cents a share, a year ago.

The stock has come under pressure in recent weeks, and is down by over 50% from its all-time high. So, what does the future hold for the Meta share price? Let’s take a look at the bulls and the bears…

## The Bull Case for MP

The bulls argue that the sell-off in Meta Platforms stock is overdone and that the recent weak quarter was an anomaly. There are still plenty of reasons to be bullish on MetaPlatforms.

First, the company’s flagship product, Metaverse, is in high demand. The product is being adopted by more and more businesses as they move to the cloud.

Second, MetaPlatforms is growing quickly. 

Third, MetaPlatforms has a strong balance sheet. The company has no debt and $100 million in cash. This gives the company plenty of financial flexibility to invest in growth.

Fourth, MetaPlatforms is led by a proven management team. The company’s CEO, Scott Smith, is a co-founder of Salesforce.com (CRM). He knows how to build a successful cloud company.

## The Bear Case for MP

The bears argue that the recent weak quarter was not an anomaly and that MetaPlatforms is facing some serious headwinds. They point to the company’s high valuation, which is now trading at nearly 30 times sales. It has been viewed that the company previously known as ‘Facebook’ was forced to rebrand as Meta Platforms after coming under much [scrutiny from its services impact on the mental health of teens](https://www.everydayhealth.com/public-health/facebook-comes-under-fire-after-whistleblower-and-leaked-documents-reveal-negative-impact-on-young-girls/). This was seen as a ploy to divert the negative publicity and not affect the company’s share price.

They also note that Meta Platforms is up against some tough competition, including Microsoft, Amazon, and Google. And they believe that the recent sell-off could be just the beginning for MP stock.

So, what’s the verdict? Is MetaPlatforms a buy or a sell?

## The Verdict

There are both positive and negative factors to consider when deciding if Meta Platforms stock is a buy in August 2022. 

Ultimately, it comes down to whether you believe the stock is a good long-term investment. 

If you think the company's fundamentals are strong and the stock is cheap at current levels, then it could be a good buy. However, if you're concerned about the stock's technical, tainted reputation  or the overall market conditions, then it may be best to wait for a better entry point.

Please be aware that this is not financial advice.

A Comprehensive Look at Meta Share Price

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](/articles/learn-moni/what-is-bitcoin) 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

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

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. 




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