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

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

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

## A “targeted shutdown” of SpankPay

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

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

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

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

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

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

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


red image of person closing business with spankpay logo

SpankPay Crypto Payment Service Shuts Down

The much-awaited [ETH Shanghai hard fork](/news/article/ethereum-shanghai-upgrade) upgrade, initially scheduled for late March, has been postponed by around two weeks by the Ethereum developers.

According to the announcement made during an [Ethereum](/news/article/ethereum-price-in-uk) developer meeting on 2 March, the ETH [Shanghai upgrade](https://cointelegraph.com/explained/ethereum-shanghai-upgrade-explained) is expected to be released sometime in the first half of April. At the meeting, the core developers agreed that the hard fork would occur approximately two weeks after the Goerli testnet launch, scheduled for 14 March. The Goerli testnet will be the final rehearsal before implementing the hard fork on the mainnet.

According to Tim Beiko, the project coordinator and a core developer for Ethereum, it is customary to provide a minimum of two weeks' notice before implementing any changes to the mainnet.

Beiko explained that if the Goerli testnet launch proceeds smoothly and the developers agree to move on 16 March, the earliest the mainnet will be updated would be in the first week of April.

In a [Twitter thread](https://twitter.com/TimBeiko/status/1631372629721620480?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1631373281650708481%7Ctwgr%5E1dbeece3471db96040845174bce7b665f85d20d5%7Ctwcon%5Es2_&ref_url=https://cointelegraph.com/news/ethereum-core-developers-push-shanghai-upgrade-to-early-april) on 2 March, Beiko clarified that they still needed to set a specific date for the mainnet update. Still, they are likely to decide during the next developer meeting on 16 March, contingent on the success of the Goerli testnet.

## What is the Shanghai Capella upgrade, and why is it essential?

The Shanghai Capella upgrade, also known as Shapella, which will be deployed on Goerli, represents the final opportunity for Ethereum clients and staking providers to verify that the Shanghai hard fork will function seamlessly when it goes live on the mainnet.

The eagerly awaited mainnet upgrade in Shanghai will enable Ethereum staked on the Beacon Chain to be withdrawn in stages. To maintain the security and stability of the network, the withdrawal of ETH will be dynamic. It will depend on the number of validators exiting at any given time. Since validators must complete a two-stage process involving an exit queue and a withdrawal period, the withdrawal process will occur gradually over time.

Around 17.1 million ETH, worth roughly $28 billion, has been staked on the Beacon Chain since the launch of the Ethereum consensus layer in December 2020. And the ETH Shanghai upgrade is predicted to benefit liquid staking providers, such as Lido, by bringing in more collateral. These platforms provide increased flexibility and yield opportunities for staked ETH, which could result in a rise in collateral deposited on them after the upgrade.


green image of shanghai and ethereum logo

ETH Shanghai Upgrade Postponed 

Crypto lawyers have rejected cryptocurrency claims made by SEC chair Gary Gensler, who recently stated in an interview that all cryptocurrencies except Bitcoin are securities that fall under its jurisdiction.

In an [interview](https://nymag.com/intelligencer/2023/02/gary-gensler-on-meeting-with-sbf-and-his-crypto-crackdown.html) with New York Magazine on 23 February, Gensler stated that "everything other than Bitcoin" falls under the US Securities and Exchange's jurisdiction as a security. He elaborated that crypto projects, besides Bitcoin, are considered securities because they involve a group in the middle, and the public anticipates profits based on that group. However, he noted that this is not the case with Bitcoin. 

## Crypto attorney's opinion on SEC's regulatory jurisdiction

Lawyer and policy lead at the Blockchain Association, Jake Chervinsky, argued with the comments by Gary Gensler on his authority over the cryptocurrency sector.

He [tweeted](https://twitter.com/jchervinsky/status/1629871537217044481?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1629871537217044481%7Ctwgr%5E91719ed73ca7c438481d7858aed2e4689c4c61c9%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fcointelegraph.com%2Fnews%2Fcrypto-lawyers-flame-gensler-over-claims-that-all-crypto-are-securities) on 26 February that Gensler's opinion is not legally binding, and the SEC must prove its jurisdiction over each token in court before regulating any of them. 

Lawyer Logan Bolinger also supported Chervinsky's view by [tweeting](https://twitter.com/TheWhyOfFI/status/1629649343627116545?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1629649343627116545%7Ctwgr%5E91719ed73ca7c438481d7858aed2e4689c4c61c9%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fcointelegraph.com%2Fnews%2Fcrypto-lawyers-flame-gensler-over-claims-that-all-crypto-are-securities) that Gensler's opinions on what is or isn't security are not legally conclusive, as the ultimate decision is up to the judges, not the SEC chairs.

Also, Jason Brett, the policy lead at the Bitcoin Policy Institute, tweeted that Gary Gensler's comments "shouldn't be celebrated, but feared" and that there are alternative ways to win than with a "regulatory moat".

## Enforcement challenges: Gabriel Shapiro

Gabriel Shapiro, the general counsel at investment firm Delphi Labs, took to [Twitter](https://twitter.com/lex_node/status/1629965092547620864?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1629965094430932993%7Ctwgr%5E91719ed73ca7c438481d7858aed2e4689c4c61c9%7Ctwcon%5Es2_&ref_url=https%3A%2F%2Fcointelegraph.com%2Fnews%2Fcrypto-lawyers-flame-gensler-over-claims-that-all-crypto-are-securities) to explain the difficulty the Securities and Exchange Commission would face in enforcing its rule on the [cryptocurrency](/news/article/what-is-future-of-cryptocurrency) industry. 

According to Shapiro, more than 12,305 tokens valued at around $663 billion are considered unregistered securities and thus illegal in the US. Per Chervinsky's comments, the SEC would have to file a lawsuit against each token creator for enforcement.

Shapiro outlined that the SEC has two main ways of handling cryptocurrencies: imposing fines on token creators and requiring registration or by imposing fines and directing that the created tokens be destroyed and delisted from exchanges. However, he noted that SEC registration is too expensive for most token creators, and there is no clear path for token registration.

Shapiro questioned the SEC's plan for the industry, given that registration appears unfeasible, leading to potentially huge fines, work stoppages, destruction of dev premines, and delisting from trading. He concluded that such a plan would require 12,305 lawsuits and put billions of American dollars at risk, leaving everyone wondering about the SEC's plan.


Gary Gensler in front of red image of crypto markets

Gary Gensler Crypto Claims Challenged

After the euphoria of 2021, last year proved to be a massive disappointment, with many new to crypto losing large amounts of money. One sector that felt the chill of the crypto winter was NFTs - from the highs of 2021, the NFT market cap currently stands at $10.5 billion, leaving many to ask – are NFTs dead?

As a quick recap, an NFT is a digital certificate of authenticity that can represent ownership. However, for now, most NFTs are created to represent digital media, be it artwork, music, or 3D images. In the future, NFT use can extend to contracts, ticketing  - in fact, any real-world product or event where digital ownership is needed.

## Reasons to be optimistic

As I mentioned above, the value of the NFT market today is some $10.5 billion and [counts for 1.03% of the total cryptocurrency market cap](https://coinmarketcap.com/view/collectibles-nfts/). A large sum by anyone's reckoning.

Some people see the picture rather differently. They believe that the end is near due to the massive decrease in NFT trades from the highs of January 2022.

So other than market value, what are the reasons for us to feel optimistic about the future of the NFT? There are many, but let's take a look at five of the strongest reasons to be cheerful ~
Inflation caused worldwide markets to dump, not just NFT
The fallout from two years of the COVID-19 pandemic was almost inevitable. The response to unlimited currency printing resulted in a real-time fall in the value of goods and services, aka inflation. 

This insidious metric has risen in every corner of society, from stocks to commodities to everyday goods, resulting in higher prices across the board. However, all is not lost. The US and the UK have recently recorded drops in the inflation rate, with further falls expected as we progress through the year. This is encouraging for anyone looking to invest a little spare cash into crypto and NFTs.

## Many major brands looking to launch NFT

Many mainstream brands such as Budweiser, Gucci, and Nike have launched or are planning to launch NFT collections soon. NFTs and the Metaverse go hand in hand - Nike fans will be able to purchase a pair of digital sneakers for $50. Nike's platform is built on Polygon. To interact, users simply have to set up a digital wallet and load it with either ETH or MATIC crypto.

## Bored Apes still trending – partnership

Despite the massive drop off from the highs of 2021, one of the most talked about NFT collections – the Bored Ape Yacht Club – is still proving popular with its legions of fans. At its height, one BAYC digital artwork sold for $3.6 million, with another going for $1.7 million. Recent data from Google has shown that searches for BAYC are increasing. In what is certainly a nod to the future of the NFT, [a self-described BAYC whale just parted with $900k to buy 69 DeGods NFTs](/news/article/bored-ape-whale-buys-69-degods-nft).

## Elon Musk and Twitter

Unless you live under a rock, you will be aware that famed entrepreneur Elon Musk finally put pen to paper and purchased the social media platform Twitter. Musk makes no secret of his love of all things crypto, especially given his close association with DOGE coin. If, as many suspect, he makes DOGE the native currency of Twitter, this is expected to provide a huge boost for the legitimacy and, indeed, use of crypto. In perhaps a sign of things to come, NFT Twitter fans can now display their digital art as part of their profile picture.

## Continued evolution

As mentioned above, NFTs are closely related to the Metaverse in the form of digital items users can create, trade, and use on their whim. The future of gaming is virtual, as what we know of as video games changes at a rapid pace. The rise of the mobile Play to Earn gaming concept has seen significant growth in the Far East, allowing players to create and trade their precious digital items. While this has not entirely caught on in the West, many industry experts believe an integrated commercial environment that allows players to trade and earn via NFTs is not from being a common reality.

## The future

There are many reasons to be upbeat about the future of the NFT.

However, as I mentioned above, apart from digital artwork, there is a real need for NFT use cases in wider society. This is mainly due to their ability to determine a unique and non-transferable (non-fungible) good or service. It must be remembered that no NFT can be traded on a like-for-like basis (unlike traditional crypto). This ability to uniquely identify without being copied, substituted, or sub-divided brings value to an NFT.

The concept behind the NFT is relatively simple. This digital certificate then exists on a blockchain which can be accessed and viewed by anyone, thus proving ownership, digital or otherwise. 

NFTs have the ability to revolutionise a wide variety of traditional industries radically, [none more so than real estate](https://butterflymx.com/blog/nft-real-estate/). As we are all probably aware, the house purchase process in the UK is far from ideal, with endless documentation and last-minute gazumping a common reality.

Now imagine a future where buyers and sellers agree a price and use a third-party escrow account to manage the purchase. Once complete, the deeds to the property are transferred in the form of an NFT, which exists on an immutable blockchain. This is a great example of how distributed ledger technology will directly impact the fabric of our future lives. With estimates of a $230 billion market valuation by 2030, there has never been a better time to consider investing in NFTs.


Are NFTs dead? An Investigation

Web Generated Modular Interfaces is a digital art collection that features 10,000 randomly generated profile pictures. The official [WGMI website](https://wgminterfaces.com/) does not provide the NFT project's release date, sales and distribution details, pricing, or airdrop information.

The Interfaces [NFT](/news/article/largest-nft-marketplace-2023) collection is composed of various art depicting a range of high-quality images. The initiative aims to provide token holders with the opportunity to purchase a unique piece of digital art.

The project has provided followers with a spreadsheet that allows them to keep track of the whitelisted users.

The spreadsheet also includes all pre-public mint approval requests. At the time last recorded, it had 1,656 individuals on the spreadsheet who had been granted permission.

The spreadsheet provided consists of two columns, with the left column listing the Twitter IDs of individuals and the right column providing the reasons for their inclusion.

On 17 December, 2021, the project released its first video detailing the NFT collection and thanking its supporters for their ongoing support. The video received a huge positive response from fans and followers.

## Founders

The [NFT](/news/article/rarity-tool) website and Twitter account list the following three individuals as the founders of the project: 

•	Anna Kajda.

•	Arek Kajda.

•	Daniel Linthwaite.

All three individuals are experienced designers, illustrators, and artists. They have established foundation profiles and have a track record of selling their work on the platform, demonstrating their credibility and expertise in the field.

## Twitter craze

The NFT has a crazy social handle following. It has the highest quality unique collections that surpass other artworks. This is evident in the growing community of enthusiasts that follow the project on Twitter, where the handle [@WGMInterfaces](https://twitter.com/WGMInterfaces) has amassed more than 179,000 followers.

## Is the Interfaces NFT dead?

The founders [announced](https://medium.com/@wgminterfaces/a-passion-project-that-no-longer-feels-like-a-passion-project-c388011db108) on 27 February, 2022, that they would no longer continue with the project. The project received massive traction and attention from the crypto community, putting unexpected pressure on its creators.

As a result, the founders had to stop the project saying it did not align with their vision.


Interfaces NFT: Is It Dead? 

According to Shibburn on Twitter, there have been 17,434,272 [$SHIB](https://twitter.com/search?q=$SHIB&src=cashtag_click) tokens burnt and eight transactions in the past 24 hours. Burning $SHIB lowers its circulating supply while allowing users to earn passive money.

## Shibburn portal

Anyone can use the ShibaBurn [interface](https://burn.shibaswap.com/) to send their [SHIB](/news/article/shiba-inu-coin-burn) tokens to a remote crypto wallet address, the specifics of which will not be stored. This implies that once the crypto tokens transmit to this wallet address, they can never be recovered and are thus lost forever. The objective is that with each burn, the wealth of the community rises, rewarding the long-term work to create Shiba Inu, said Shiba Inu creators in a blog post.

## The reward for Shibburn users

The Shiba Inu crypto coin, based on the Ethereum (ETH) network, was created by an anonymous developer named Ryoshi. Using the Ethereum request for comment (ERC) version 20 protocol, he has now generated another token called the RYOSHIS VISION token. 

According to details within the blog article, if you burn SHIB tokens, users will be rewarded with RYOSHI VISION tokens. Furthermore, 0.49% of all RYOSHI transactions will be given to SHIB token owners who have burned their tokens.

## Advantages of burning cryptos 

Like any other financial asset, cryptocurrencies derive their value from the economic rule of demand and supply. If an item is abundant but does not have enough demand, the price will decline, and vice versa. 

Burning SHIB crypto tokens, or any crypto token, should reduce supply and drive the price (assuming its demand stays constant or goes up). 

[Shiba Inu](/news/article/shiba-inu-news-will-it-rise) is now trading at $ 0.0000121 per (SHIB/USD) with a market size of $6.65B. The 24-hour trading volume is $386.13 million.

The coin does not support smart contracts and has no assets behind it. It can, however, it can pass from one user to another.


What is the Shibburn portal?

Brian Armstrong, CEO and co-founder of Coinbase, has expressed opposition to the potential ban on end-user crypto staking in the US. He shared his views in a [Twitter thread](https://twitter.com/brian_armstrong/status/1623459203150131201?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1623459237631528960%7Ctwgr%5E862a6b7c3994d5642726da789626635dbbbfa090%7Ctwcon%5Es2_&ref_url=https%3A%2F%2Fcointelegraph.com%2Fnews%2Fgetting-rid-of-crypto-staking-would-be-a-terrible-path-for-the-us-coinbase-ceo) posted on 9 February, which has since received over 2.2 million views. 

## Brian Armstrong explains opposition

The Coinbase CEO strongly opposes the potential ban on crypto [staking](/news/article/staking-on-revolut-announced) in the United States. In the Twitter thread, he posted that the US Securities and Exchange Commission ([SEC](/news/article/sec-probe-giving-advice-for-crypto-trading)) was considering ending retail [crypto staking](/news/article/what-is-staking-crypto). 

He chose not to disclose the rumour's origin, but emphasised the significance of currency locking and quoted it as "a really important innovation in crypto".

According to him, virtual currency locking brings numerous benefits to the cryptocurrency space, including improved scalability, heightened security measures, and a reduced carbon footprint.

He also referenced a [blog post](https://www.paradigm.xyz/2022/10/ethereums-new-staking-model-does-not-make-eth-a-security) from crypto investment firm Paradigm, published on 5 October. It argued that Ethereum's transition to Proof of Stake and its resultant staking model does not classify it as a security.

This argument from Paradigm came just a few weeks after SEC Chairman Gary Gensler raised concerns about proof-of-stake cryptocurrencies potentially violating securities laws while talking to reporters after a Senate Banking Committee meeting on 15 September, 2022.

Armstrong strongly criticised the lack of regulatory clarity in the US and the "regulation by enforcement" approach driving companies, such as the failed exchange FTX, to move offshore. He also emphasised the need for regulation that offers clear guidelines for the industry while promoting innovation.

## Crypto staking ban could deal a significant blow to the crypto industry

As reported by [Staking Rewards](https://www.stakingrewards.com/), the top four cryptocurrencies staked by market capitalisation account for more than $55 billion in staked assets. This highlights the potential impact of a nationwide ban on the already struggling cryptocurrency industry, which has seen an outflow of related businesses.

Some experts in the industry predict that the SEC might target centralised token-locking service providers rather than the technology itself. They believe that going after the technology would result in a losing battle that would set a damaging precedent.

Coinbase, one of the leading centralised exchanges, is currently facing an SEC investigation, which was disclosed in an SEC filing on 9 August 2022. The probe is related to Coinbase's staking rewards program and other offerings.


Yellow image of Coinbase CEO and bitcoins

Brian Armstrong Opposes Crypto Staking Ban 

A Bored Ape whale, who goes under the pseudonym "Pokeee.eth" on [Twitter](https://twitter.com/pokeepandaa), just spent ~$900k on 69 DeGods NFTs. DeGods is a dominant [NFT project on Solana](/news/article/how-to-find-new-nft-projects), with all-time sales of over $135M, according to [CryptoSlam data](https://www.cryptoslam.io/degods).

That said, what makes a DeGods NFT such a prized asset? And why did the NFT collector spend BIG on the project?

![degods1.png](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/degods1_d298b36907.png)

Source: DeGods

## What is DeGods?

DeGods claims to be the "#1 NFT community on Solana". These NFTs are NOT a derivative of the Bored Ape Yacht Club (BAYC). Instead, this collection is [works of original art](/news/article/how-to-make-nft-art).

These non-fungible tokens are held by many prominent members in the crypto space, including Anatoly Yakovenko and Raj Gokal (Co-founders of Solana), Ice Cube (an American rapper), and Sidney Zhang (Co-founder and CTO of Magic Eden).

At the time of writing, there are 3,540 holders of the digital art collection – North Korea is the only country that does not have a DeGods holder. With more than $135M in sales to date, it is not surprising that the DeDAO (The project's DAO) bought a basketball team on 28 April, 2022 – the Big3 team, Killer 3s, for $625,000! A first in NFT history.

![degods2.png](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/degods2_b424d0178d.png)

Source: [DeGods](https://degods.com/)

Holders of the non-fungible token earn in $DUST, the native token of the DUST Protocol, based on Solana. Currently, the cheapest DeGods NFT available on the open market is worth 517.78 SOL. The piece of art goes by the name "DeGod 4640".

The most expensive sale to date was made as recently as 18 hours ago, for $17,657.76 – DeGod #9001. There's more information about the project on the [website](https://degods.com/).

## Why did Pokeee.eth buy 69 DeGods NFTs?!?

On 13 January, 2023, Pokeee.eth promised to purchase 69 of the digital art tokens if the below post received more than 1,000 likes. The digital art collector's move was in support of the project's impending [move to Ethereum](/news/article/ethereum-whales-fuel-eth-bounce-back). The post has received nearly 3,000 likes, and Pokeee.eth is a man of his word.

![degods3.png](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/degods3_d4679166d3.png)

Source: [Twitter](https://twitter.com/pokeepandaa/status/1613961351780773890)

On 16 January, 2023, Pokeee.eth tweeted a video showing his floor sweep (purchase at floor price) of 69 of the NFTs for around $900k, through the Magic Eden marketplace.

![degods4.png](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/degods4_0f5a186be7.png)

Source: [Twitter](https://twitter.com/pokeepandaa/status/1614968118287433728?cxt=HHwWgIDU4c68wuksAAAA)

Notably, the NFT collector owns three BAYC NFTs as well – BAYC #7816, #6587, and #7369.


Pink image of nft whale and bored ape logo

Bored Ape Whale Buys 69 DeGods NFTs 

[CoralCube](https://coralcube.io/), an innovative Solana NFT aggregator and AMM DEX platform, is revolutionizing how investors and collectors transact and purchase NFTs. 

## CoralCube: What is it?

CoralCube is a decentralized NFT marketplace that gives users access to various trading alternatives. These include auctions, spot trades, derivatives, and a safe and simple way to buy and sell digital artwork, collectibles, and other [non-fungible tokens (NFTs)](/news/article/moonray-nft-gaming-platform).

With its intuitive user interface, secure trading environment, and advanced features, this NFT marketplace is quickly becoming the go-to platform for experienced investors and casual collectors. 

## Recent updates on the CoralCube marketplace

According to a [recent tweet on its official Twitter handle](https://twitter.com/coralcubenft/status/1595494147497988096?t=kIiHc-K_9_rNXpYkMWXULQ&s=19), CoralCube has implemented an Automated Market Maker (AMM)-based DEX "with 13 launch partners" - the tweet reads in part.

The traditional order book is assumed to be changed by liquidity pools which are already funded on-chain for both assets in the trading pair in an AMM-based decentralized exchange.
  
![coralcube1.png](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/coralcube1_6db2b10310.png)

By doing this, liquidity (primarily on Solana) is provided by other users who also receive trading fees on their deposits based on the chunk of the liquidity pool they contribute.

## CoralCube: How it works

Getting started with CoralCube NFTs is simple. First, users must create an account on the platform and complete the necessary verification process. Once the account is open, users can begin searching for NFTs to purchase. They can also create their own NFTs and manage them on the platform.

## Features and functions

•	CoralCube is a decentralized, non-custodial NFT platform. NFT producers and collectors can trade NFTs straight from their wallets because it is a "non-custodial" platform. This means they always have full ownership and control of their wallets and NFTs. As a non-custodial platform that uses smart contracts to facilitate any NFT transaction, this eliminates the need for third parties.

•	Additionally, CoralCube provides a safe escrow system to ensure that transactions are carried out securely.

•	An intuitive user interface that makes it easy for users to quickly find the perfect asset for their collections.

•	Its advanced search and filtering capabilities.

•	Transactions are also transparent and can be tracked by anyone on the blockchain.

•	Other features include auctions, classifieds, and P2P transactions. These features provide a wealth of options for users to buy, sell, or trade their NFTs.

## Top collections on CoralCube

There are several NFTs, including collectibles, gaming assets, art, and music, that users can access on the marketplace. 

![coralcube2.png](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/coralcube2_980b98e76a.png)
  
On [CoralCube's official website](https://coralcube.io/), the current trading dashboard of NFT collections by 24-hour volume shows that y00ts is at the top of the list with a floor price of 157.99 SOL.

![coralcube3.png](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/coralcube3_2a79983b30.png)
  
However, users can create their own NFTs and manage them in the space, with access to a wide range of NFTs from various sources. 

CoralCube is designed to be a secure and reliable digital marketplace for making NFT investments. The platform gives users access to various security features, such as two-factor authentication and encryption, to protect their investments.


pink image of coralcube nft solana marketplace

CoralCube: NFT Game Changer

Cameron Winklevoss, co-founder of crypto exchange Gemini Trust Co with his twin brother, accused CEO of Digital Currency Group Barry Silbert of "bad faith stall tactics" on Monday and demanded that he commit to settling $900 million in disputed client assets by 8 January.

## Winklevoss says Genesis owes more than $900 million

In partnership with DCG's crypto company [Genesis](/news/article/genesis-brokers-owes-gemini), Gemini offers a crypto financing product called Earn. Following the bankruptcy of major cryptocurrency exchange [FTX](/news/article/is-crypto-dead) in November, [they froze customer withdrawals](https://www.reuters.com/technology/crypto-broker-genesis-suspend-redemptions-new-loan-originations-tweet-2022-11-16/). 

Winklevoss stated that Genesis owed about $900 million to around 340,000 Earn investors and that he had been attempting to achieve a "consensual resolution" with Silbert for the previous six weeks. 

"Over the past six weeks, we have done all we can to engage with you in good faith and collaboratively in an attempt to seek a consensual settlement for you to return the $900 million that you owe while also assisting you in the preservation of your business," Winklevoss said in his letter. "However, it is now evident that you have been using deceptive delay tactics. 

## Winkelvoss's open letter to Silbert and his response

"However, it is now evident that you have been participating in bad faith delay tactics," Winklevoss stated in a Twitter https://twitter.com/cameron/status/1609913051427524608?s=20&t=belP_IbOFb4yt9f9xIG4Aw to Silbert. "We are asking you to commit to collaborating to fix this problem by 8 January, 2023," he continued.

The letter should have specified what would happen if an agreement with Silbert was reached by 8 January. Winklevoss responded that DCG owed Genesis $1.675 billion, which Genesis owed to Earn users and other creditors, adding that "this disaster is all of your inventions".

In a [tweet](https://twitter.com/BarrySilbert/status/1609926715454771200), Silbert stated that DCG had not borrowed $1.675 billion from Genesis. In his opinion, DCG has never missed an interest payment to Genesis. 

It has no loans outstanding, adding that on 29 December, DCG delivered a proposal to Genesis and Winklevoss' counsel and has yet to get a response.

Genesis said in a letter to clients on [7 December](https://www.reuters.com/technology/crypto-lender-genesis-tells-clients-it-is-working-preserve-their-assets-2022-12-07/) that it was trying to safeguard client assets and increase liquidity, but that it would take weeks rather than days to develop a plan.


red image oc cameron winklevoss with genesis logo

Winklevoss Claims Genesis Owes Earn Investors

So, Elon Musk finally put pen to paper and bought Twitter. This is probably the highest-profile business deal of 2022.

Long regarded as 'broken', Twitter had fallen into a bad place under previous CEO and founder Jack Dorsey. Users regularly complained of too much spam, counterfeit accounts, and automated reply bots making the platform impossible to use, especially in a business context.

And so, Elon Musk decided to step into the fray with an audacious $44 billion bid. Although initially rejected, it was finally inked on 27 October. 

Let's look at what motivated the Twitter Elon Musk purchase, and what the future may hold for the much-maligned platform.

## Twitter Elon Musk deal

Twitter currently has around 450 million monthly users, with some 237.8 million 'monetizable' daily users. The USA is its most prolific market. Around 24% of all US adults (79m) have accounts, with 40% of all Twitter users aged between 18 and 29, [according to research](https://blog.hubspot.com/marketing/twitter-vs-facebook).

Facebook remains the world's largest social networking site, based on user engagement. Twitter languishes at the bottom of a long list, below even the freeware instant messaging app Kik.

This massive user base with declining engagement goes some way to explain Musk's motivation and desire to transform Twitter into the '[de facto public town square](https://twitter.com/elonmusk/status/1507777261654605828)'.

## Rock solid

Elon Musk is a prolific Tweeter. His average of 16.8 tweets a week compares to the 11.55 from 'similar accounts' (presumably CEOs with large social media presence). Frequent use of the platform may explain the desire behind the Twitter Elon Musk deal, alongside wanting to, in his words, 'help humanity'.

In the three weeks after the deal completed, as promised, a lot happened. First, Musk has committed to firing much of the workforce, with the remaining employees encouraged to quickly 'build and launch new products'.
Secondly, Musk removed the requirement that users validate their accounts in return for the blue check mark. 

Instead, users can purchase this authentication for a monthly fee of $7.99. This encountered myriad problems and, consequently, Musk postponed the rollout until 29 November to 'make sure it is rock solid'.

## Monetization

This may give us an indication of where Twitter could head in the not-too-distant future. The monetization of social media platforms is a hot topic, with many viewing it as an [inevitable step in developing the medium](https://www.disciplemedia.com/community-monetizations/social-media-monetization/).

It is well known that Elon Musk has a strong association with the popular cryptocurrency Dogecoin. Indeed, other than buying a brand-new Tesla, [Dogecoin](/news/article/should-i-buy-dogecoin) is now accepted by a growing number of online and in-store merchants, including GameStop, AMC Theatres, and Twitch. With this information in mind, many believe it has become only a matter of time before Twitter becomes monetized.

Social media monetization has been widely discussed in recent years. It is a concept that spans a wide variety of formats depending on the platform, use case, and audience. Monetization is a huge area and would signify a step change for the industry.

## Micropayments

The potential for users to generate income from their content or producers and suppliers of goods and services to utilise an inbuilt platform payment system has [fascinated the crypto world](https://futuristspeaker.com/business-trends/the-emerging-crypto-micropayments-industry/) for many years.

However, for this to become a reality, platforms like Twitter and Facebook need the right micropayment processor for their needs. When you are processing thousands of transactions per minute, it is essential that you not only have the network capability to handle that amount of traffic, but it is also imperative that transaction fees are kept to a minimum.

With this in mind, the close relationship between Twitter, Elon Musk, and [Dogecoin](/news/article/dogecoin-to-gbp) becomes a little clearer. It points a clear path toward the future for both social media and distributed ledger technology.



blue image of the twitter homepage with elon musk standing, arms folded in the foreground. The image represents his acquisition of Twitter

Twitter Elon Musk Acquisition: What Now?

Elon Musk, the CEO of both Tesla and Twitter, [tweets his thoughts on Sam Bankman-Fried's reported donation to the Democratic Party](https://twitter.com/elonmusk/status/1598993109786189826). Musk believes the co-founder and former CEO of the defunct cryptocurrency exchange FTX sent far more money to the party than what was officially acknowledged.

Replying to a tweet by Will Manidis, CEO of ScienceIO, which mentioned that SBF donated $40M to the Democrats, Elon said he believes the amount contributed by the former CEO of the fallen crypto exchange FTX is far bigger than what has been publicly announced.

![elon.PNG](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/elon_2943e6d6a1.PNG)

## SBF donating to political parties - Not for the first time

It is not the first time San Bankman-Fried has donated to a political party. He has previously acknowledged giving to the Republican Party in a covert manner.

 In 2020, he was reported to have given $10 million to assist Carrick Flynn, a failed Democratic candidate for a House seat in Oregon, while also giving $5.2 million to Joe Biden's presidential campaign.

He gave Democrats $39,884,256, according to Opensecrets, before FTX collapsed and had to file for [bankruptcy](/news/article/ftx-bankrupt-who-to-blame). The exchange meltdown caused millions of dollars in losses for investors and users. A probe into FTX's handling of consumer money improperly is now underway. The fall of FTX sparked a contagion that has caused several other platforms and [companies to struggle and some to collapse](https://cryptopotato.com/how-wide-does-ftx-contagion-spread-the-affected-companies-so-far).

Then Elon Musk tweets his allegation that the publicly declared $40M donation is incorrect and the actual amount could be anything above $1B. The internet is already flooded with articles and comments alleging that Bankman-Fried donated this amount to a political party to avoid going to jail.

Meanwhile, SBF has been invited to participate in an investigational hearing set on 13 December, 2022, by Democratic House Financial Services Committee Chair Maxine Waters and Republican Ranking Member Patrick McHenry.

The crypto community, alongside investors who lost their money in the FTX fall, is angry and waiting for justice. What is the future of SBF and will the investors get their money back? These are some of the questions people are looking to get answers to. Clarity will only come after a proper investigation.


Elon Musk Tweets 'Where Did the Money Go?'

There is trending speculation of a rumoured Elon Musk Twitter Dogecoin arrangement. This rumour was spiked by the latest tweet about Twitter's new look, which Twitter's new CEO, Elon Musk, called "Twitter 2.0 Plan" - "The everything app".

This has made investors excited about the possibility of the [cryptocurrency DOGE](/news/article/elon-musk-twitter-deal) being integrated into Twitter. 
This recent disclosure, in a tweet yesterday, by Musk - who shared lots of slides on "Twitter company Talk" albeit without any mention of Dogecoin - saw the DOGE price surge to 19.4% from $0.089 to $0.107 before cooling off to $0.096, [as reported by CoinDesk](https://www.coingecko.com/en/coins/dogecoin).

![Picture2.png](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/Picture2_1cf9f20662.png)
 
However, [according to Coinbase, the price of Dogecoin, which has been on the rise by 26.75%](https://www.coinbase.com/price/dogecoin) in the past seven days, declined by 0.72% in the last 24 hours. In the past hour, the value increased by 1.83%. The current price is $0.096255 per DOGE. Dogecoin is 86.99% below the all-time high of $0.74.

You will recall that on 16 May, Musk tweeted a mock-up of what he called "Twitter 2.0" that included a Dogecoin tip button. The tweet sent Dogecoin's price soaring by nearly 30% in just a few hours. Musk, now Twitter's biggest shareholder, has been a long-time supporter of Dogecoin, [often tweeting about the cryptocurrency and even calling it his "favorite" coin](https://www.google.com/amp/s/www.coindesk.com/markets/2019/04/02/elon-musk-calls-dogecoin-my-fav-cryptocurrency/%3foutputType=amp). 

## Elon Musk Twitter Dogecoin Rumours

In another tweet, world-renowned golfer, Matt Wallace, said, with a hashtag:

"#Dogecoin Acceptance for Twitter Blue Would Be Awesome."

This tweet further deepened speculation on the future of a Twitter Dogecoin payment integration arrangement.
 
![Picture1.png](https://s3.eu-west-2.amazonaws.com/prod-monitalks-media/Picture1_1ed3d1e487.png)

If Twitter were to integrate Dogecoin into its platform, it would give the cryptocurrency a major boost in exposure and could lead to more mainstream adoption.

More rumours abound amid speculation that [Twitter may be working on a wallet prototype that supports cryptocurrency deposits and withdrawals](https://cointelegraph.com/news/twitter-will-do-lots-of-dumb-things-in-the-coming-months-elon-musk/amp). That, plus an announcement of [an $8 monthly subscription model](https://cointelegraph.com/news/crypto-fans-should-get-behind-elon-musk-s-subscription-model-for-twitter/amp), led to a 40% surge in price.


Elon Musk Twitter: Dogecoin Spikes Over 

The[ Twitter takeover](/news/article/elon-musk-twitter-deal) by Elon Musk has driven the Dogecoin price higher at various points in the last few weeks. This was because the CEO of Tesla and SpaceX has long been a firm supporter of the coin. Several of his tweets and statements have previously been seen to influence the coin's position. However, revelations made recently about Musk's plans for Twitter have not been favourable to [Dogecoin](/news/article/dogecoin-to-gbp).

## Musk wants Twitter to have new leaders.

Musk [revealed](https://finance.yahoo.com/news/elon-musk-says-expects-reduce-163849041.html) on Wednesday that he expects his time at Twitter to be reduced as he looks for new leadership for the company. He previously fired CEO Parag Agrawal, other top executives, and the entire board of directors. Now, the billionaire intends to hire someone to run the social media company in his place.

Musk revealed this during his testimony in Delaware court in defence of Tesla's $56 billion pay package. He explained that he would stay for the time being because the company needed to be reorganised as a result of the acquisition. He does, however, explain that once Twitter is in a strong position, he will bring in new leadership.

Jack Dorsey, the former CEO and founder of Twitter, had responded negatively to a question about whether he would be open to returning as CEO. Dorsey is already working with BlueSky, a decentralised social media competitor to Twitter.

## Dogecoin Twitter impact

Dogecoin's value has recently been tied to the possibility that Elon Musk will initiate a Dogecoin Twitter integration Initially, making DOGE one of the cryptos used for the "Tip Jar" feature was expected. However, there are now calls for the memecoin to be added as a payment mode for "Twitter Blue".

However, Musk has yet to say anything definitive about a Dogecoin Twitter integration. This is despite the Tesla CEO's continued support for DOGE and promotion of it as the ["people" crypto](/news/article/doge-crypto-elon-musk).

[Dogecoin](/news/article/should-i-buy-dogecoin) (DOGE) has dropped 20.10% to $0.08, following the broader market sell-off and in response to [FTX and Binance's](/news/article/ftx-vs-binance-liquidate-funds) moves.

Investors are concerned that Dogecoin's decline could be a starting point for price destruction. These jitters may end the DOGE bull run in 2022 with a year-end price of $0.06.


What do changes to Twitter mean for Dogecoin?

[Elon Musk’s Twitter](/news/article/elon-musk-twitter) deal has been finalised and he has taken over the company. The news seems to have had a positive influence on Dogecoin ([DOGE](/coins/doge)). The meme coin has continued its bullish market run for a second consecutive day. In July 2022, it made it to our list of "[altcoins to watch](/news/article/altcoins-to-watch-2022)”.

On 10 October, 2022, Dogecoin touched its monthly high of $0.084448. Its price climbed by nearly 17%, with the trading volumes peaking by 196% in the past 24 hours.

Besides, DOGE has also made substantial weekly gains as it soared by 31%. With that, it became the highest performer among the 20 largest cryptocurrencies by market cap. 

However, now its price is down by 5.3%, and it is worth $0.073775, according to [Coingecko](https://www.coingecko.com/en/coins/dogecoin). Nevertheless, over the past two months, Dogecoin’s price hovered around $0.05 to $0.06. Musk closing the deal with Twitter has boosted its position in the market, giving some hope to the Dogecoin investors.

On the other hand, as the DOGE’s value soared, investors [liquidated](/news/article/sell-doge-guide) their futures positions. Data insights from [Coinglass](https://www.coinglass.com/LiquidationData) suggest that around $8.69 million of funds were liquidated in the last 24 hours. 

Apart from that, the overall [crypto market](/news/article/crypto-fear-and-greed-index) has not seen a bullish run. Most cryptocurrencies experienced a flat or negative movement. But the meme coins, DOGE and SHIB, saw a positive price action. Shiba Inu’s value has increased by 7.8%, trading at $0.00001123.

## Elon Musk Twitter deal

Elon Musk’s ‘let that sink in’ move apparently triggered a positive movement for Dogecoin. He took to Twitter to announce his [takeover](/news/article/spend-elon-musk-money) of the company distinctively. 

The CEO of SpaceX and Tesla has been a supporter of [Dogecoin](/news/article/should-i-buy-dogecoin) for a long time. Several of his tweets and statements have been seen to influence the coin’s position in the past too. As he has acquired the company, it is experiencing a bullish movement.



Elon Musk Twitter deal boosts DOGE by 140%

A house containing a host of interior decorations based on a crypto theme and non-fungible tokens has hit the market for $1.2 million. 

## Background of the crypto house

The social media account Zillow Gone Wild, renowned for providing photographs of intriguing residences for sale, shared images of the home in North Hollywood, California, on many platforms, [including Instagram](https://www.instagram.com/p/CjqOlx_LkJD/?hl=en), where it received more than 25,000 likes. According to [Forbes](https://www.forbes.com/advisor/investing/cryptocurrency/nft-non-fungible-token/), [NFTs](/news/article/prime-ape-planet-nft) have been around since 2014, but their popularity has lately risen.

## What is inside?

The photographs of the property reveal a simple exterior, while the interior includes portraits from the [Bored Ape Yacht Club](/news/article/bored-ape-nft), Twitter wallpaper, and photos of the [Bitcoin](https://www.newsweek.com/topic/bitcoin) sign. 

Commenters on Instagram were quick to share their ideas in the comments section. "Live Laugh Love: Crypto Bro Edition," [commented one Instagram user](https://www.newsweek.com/topic/instagram). "It appears like it was made for a reality show," another person said.

## The idea behind the NFT house

The owner, Elle Levy, told Newsweek that she only put the property on the market approximately two weeks ago and that its primary job was to operate as an [Airbnb](https://www.newsweek.com/topic/airbnb).

Levy stated that she became interested in Bitcoin in 2017, which inspired interior design. It took six months to a year to refurbish the inside to match the motif. Although it is now on the market, Levy stated that it is still accessible for booking through Airbnb until the day it is sold.

"The whole point was to provide individuals a venue to film amazing material in Los Angeles," Levy explained. She also stated that she intends to create short-term rentals around the nation with various themes for people to enjoy and provide "amazing content for their social media."

While Levy said it served her well and was popular with tenants, she is placing it on the market owing to disputes with neighbours. However, she has stated that she intends to move to the house.


The Crypto House Valued at $1.2million

BitBoy Crypto delivers daily content on any crypto news, from the latest happenings in the crypto space to cryptocurrency trading advice.

[BitBoy Crypto](https://twitter.com/Bitboy_Crypto/) was founded by Ben Armstrong, one of the most popular crypto influencers in the history of cryptocurrency. Although others have influenced the crypto space significantly, BitBoy Crypto is a big name.

When cryptocurrency first emerged, it struggled to gain ground and stay relevant. It felt like it would never be accepted, but that changed over time. The crypto space has gained so much popularity globally that a day hardly goes by without seeing crypto news or article. Those behind the popularity of cryptocurrency are known as crypto influencers, and the founder of BitBoy Crypto is one of them.

## What is BitBoy Crypto?

BitBoy Crypto is a popular resource where daily crypto content includes news, crypto trading advice, and project reviews. The [BitBoy Crypto YouTube channel](https://www.youtube.com/channel/UCjemQfjaXAzA-95RKoy9n_g) was founded in 2018 by Ben Armstrong. Ben’s intent for starting BitBoy Crypto, according to him, was to expand the crypto community and create financial freedom for people.

BitBoy Crypto has become a go-to source for both old and new crypto investors, and is a known name in crypto.

##Top 5 Crypto Influencers

Ben Armstrong is among the most popular cryptocurrency influencers, but others are becoming established.

### Here's a list of five leading crypto influencers, in no particular order;

Ivan on Tech: Like Ben of BitBoy Crypto, Ivan is a YouTube cryptocurrency influencer who provides his audience with well-detailed videos on crypto analyses and other useful crypto tips.

Andreas M. Antonopoulos: Antonopoulos is a YouTube cryptocurrency influencer, but he also has a huge number of followers on Twitter. He engages his audience with insightful crypto content and also teaches how blockchain technology works. Understanding blockchain technology has often been seen as a difficult task, but Antonopoulos breaks it down quite well.

Lea Thompson: Thompson's content is always entertaining and relevant to her followers. She has thousands of followers both on Twitter and on YouTube and has had a good impact on the growth of the crypto market.

Crypto Jebb: Jebb provides his followers on YouTube and Twitter with all the information they need about [Bitcoin](/coins/btc). He refers to Bitcoin as the new gold.       

Michael Saylor: Saylor is a Twitter cryptocurrency influencer with millions of followers. He provides Bitcoin news every day. If you need to find out anything about bitcoin, you can probably get it from Saylor.

## What Does Crypto Influencer Mean?

Influencers are people that influence the lifestyle of their online audience through creating engaging social media content. From the above definition of who an influencer is, you have probably figured out what a crypto influencer means.

## What Does it Take to be a Crypto Influencer?

To become a cryptocurrency influencer, you must first know everything about crypto and its technology; I mean, you can't educate people on something you are not fully conversant with. So, you need to know how the crypto space works, and you also need to make it a point of duty to be aware of every useful crypto news. Secondly, you need to choose a social media platform where you can share your relevant content. There are plenty of platforms to pick from, including YouTube, TikTok, Instagram, and Twitter. Of course, the more engaging your posts are, the more followers you gain.

## Are Cryptocurrency Influencers Legit?

Remember that the crypto space is volatile, so, sometimes, the predictions from crypto influencers may be wrong or right. Before taking a prediction from an influencer, ensure you look into the person's track record. If the ratio of accurate predictions outweighs the wrong predictions, then they are good to go. Some imposters may pose as crypto influencers, so always DYOR.
Conclusion

New to crypto or not, following cryptocurrency influencers online is a good way to understand the crypto space. Helpful online crypto influencer sources like BitBoy Crypto have been known to be known to make the crypto space a lot easier for crypto investors.


BitBoy Crypto – Rise of the Crypto Influencers

## In January, news of a Fall Out Boy NFT dropped. What happened next?

Fall Out Boy is a world-famous band out of Chicago that has featured in its line-up Pete Wentz, Patrick Stump, Joe Trohman, and Andy Hurley.
On January 7, the official Twitter feed shared a Fall Out Boy NFT. The tweeted image depicted the band members with invisible faces. The Fall Out Boy image was developed by [Invisible Friends](https://invisiblefriends.io/), a well-known [NFT](/news/category/nft-news) creator with a significant following.

The official page of Invisible Friends was also tagged in the Fall Out Boy post. The title of the NFT artwork was given as "We're Feeling Invisible".

Given the band's international fanbase, it was no surprise that the tweet quickly went viral.
However, responses were mixed. Many focused on plans for a new album, not the Fall Out Boy NFT. Others were unhappy with the group's first foray into the NFT market.

Twitter users Alex said, "Sugar, We're Letting Fans Down," to which 2.8K people agreed. Another user, Fin, expressed worry about the carbon emissions associated with NFT minting and advised that Fall Out Boy make a new album instead of entering the NFT arena.
The NFT space is in its infancy and is a highly speculative asset. It can be impacted by those with a large number of followers, such as Fall Out Boy.

Invisible Friends already had a substantial following - 200k on Twitter and 600k on Discord - and you might have thought it couldn't get much bigger. However, the Fall Out Boy NFT tweet sent Invisible Friends fans into a frenzy.

Invisible Friends excel at two things: art and community. These two factors significantly impact the volume traded in a collection. Despite the stunning visuals and engaged fans, the initiative lacks a plan. Nonetheless, it is one of the most anticipated drops.

Markus Magnusson, an animator and illustrator, produced the 5,000 animated NFTs in the Invisible Friends NFT collection. The artworks are basic and eye-catching based on some of the sneak peeks the team offered on Twitter.
 
Moreover, the fact that a respected animator like Magnusson is working on the characters adds to the excitement. He has 188,000 Instagram followers and has already sold numerous NFTs. One famous example is the Invisible ghost buddy guy, which sold for 4.8723 ETH (about $18,600) last October.


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