Bitcoin Drops Below $24,000

Bitcoin has fallen below $24,000. Does bitcoin have any intrinsic value? There’s a great discussion on intrinsic value going on at that last link. I encourage you to join in.

Celsius halts all tractions. Could there be more to this than a market downturn?

The Commodity Futures Trading Commision (CFTC) has a beef with Gemini exchange and is taking action. I figured it was bound to happen after the attention Coinbase received in a class-action lawsuit.

Tron DAO buys $60 million in bitcoin and TRX for USDD stablecoin reserves. Will it matter? USDD could end up in the historical slim pit along with UST.

Blockchain.com is giving users free NFT domain names. This is a partnership with Unstoppable Domains and users will receive a .blockchain domain name. Great promotion. I like Unstoppable Domains.

The staggering performance of cryptocurrencies historically. An incredible read!

Seth Green paid $260,000 in ransom to get his NFT back. Meanwhile, funny man Jim Carrey is releasing his first NFT. Boxing legend Manny Pacquiao is also punching the NFT time card. More than 64 percent of people buy NFTs to profit from them. Unfortunately, it isn’t profitable for more than half of them. For celebrities, NFTs are another profit center, a revenue stream. For speculators, it’s a risky business.

Does the metaverse need any rules? If you want to learn what they are, you can enter the metaverse academy. Upon graduation, you can put a virtual gate on your home.

It’s time to close the gender gap in Web3.

Fractional NFTs could spark a revolution in Web3.

STEPN gave users $100 per mile walked.

Kraft Foods has filed for metaverse and NFT patents. I’ll have a box of Macaroni & Cheese NFT please.

New York issues stablecoin guidelines.

Asia now has its first social DAO.

Seizing crypto is still very hard despite all the government success stories.

Snark and commentary in italics.

Cryptocracy is a decentralized newsletter published 4 times a week. I curate the latest news and crypto analysis from some of the brightest minds in crypto, and sometimes offer a little insightful and snarky commentary. Always fresh, always interesting, and always crypto.

First published at Cryptocracy. Not to be construed as financial advice.

Image credit: Seeking Alpha