That's Your Lot- Crypto News Round Up, Feb 2nd

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3 years ago

Was a Gene Simmons endorsement the Kiss of Death? The attempted short squeeze of XRP by coordinated community effort seems to have been extremely volatile and short-lived. Despite pumping towards the moon at above $0.70, it has since crashed back down to earth like an early Space X prototype, currently trading at $0.35 cents. The difference between an endorsement by the richest man on the planet and a geriatric bass player? The answer is:

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An early contender for NFT flip of the year is in. One user who participated in the Hashmasks digital art drop managed to buy for $130 and sell a few days later for $130,000. The NFT space continues to grow rapidly and attract both the money hungry and those with money burning a hole in their pockets. What can you say other than:

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Regulatory talk is anathema to crypto purists but will continue whether they like it or not. The Financial Crimes Enforcement Network (FinCEN) is proposing a rule that would require crypto exchanges to report transactions involving private wallets over a certain threshold. The issue seems to be another desperate attempt to apply the logic of failing systems on an emergent technology. One congressman actually wondered aloud if crypto was being used by far-right extremists’ to fund an overthrow of the U.S. government. To which crypto enthusiasts replied: “The U.S. has been doing it for years sir, we just want to level the playing field.”

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A professor from NYU continued to take side swipes at the r/WallStreetBets crew and specifically their sex life. There’s no doubt there’s some truth to the claim but it hardly takes a professor to tell you that. The real issue here may be Professor Galloway’s obsession with the sex lives’ of reddit users. Maybe he is projecting a lifetime of frustration onto those he envies? We reached out to a number of members of r/WallStreetBets for comment but only received the following reply:

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It was a bad day for crypto fraudsters. One man in California has pleaded guilty to money laundering charges related to his crypto activities. Elsewhere, three individuals have officially been charged by the SEC with deceiving investors with crypto projects in order to raise more than $11 million in cash. The latter case garnered some attention previously when actor Steven Seagal was fined for promoting one of the projects. In an unexpected twist to the story it has been revealed Seagal was employed to track down the three fraudsters in the case:

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Have you ever purchased any NFTs? What sites/marketplaces have you used?

Right, that’s your lot.

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