Crypto Crash, Ripple, and Lunatics
What are bitcoin covenants and how do they work? (A MUST-READ) Are miners selling off their bitcoin contributing to bitcoin’s price problem? There are a lot of factors contributing to bitcoin’s price slump. I don’t think we should be worried. Bitcoin isn’t dead yet.
Ripple CEO Brad Garlinghouse says Ripple will move out of the U.S. if the company loses its lawsuit with the SEC. This may appear to be an idle threat. Quite often, we hear celebrities say they’ll move out of the country if such-and-such person wins an election. They never do it. This time, it could happen. Ripple is a business, and like any business, its executives want a favorable business climate. The Securities and Exchange Commission is showing itself hostile to crypto on many fronts. It will be interesting to see how this plays out.
First, Moody’s downgraded Coinbase, now Goldman Sachs is downgrading the crypto exchange to Sell. Meanwhile, Coinbase has added support for ETH and USDC on Polygon.
CoinMarketCap now tracks more than 20,000 cryptocurrencies.
John Loeffler is pissing off crypto miners and he’s damn proud of it. (THIS IS AN AWESOME READ—in other words, don’t miss it!)
Galaxy Digital loud mouth Mike Novogratz talks about his big Lunatic mistake and the future of bitcoin. Should we trust him? Novograts has done a lot of good for crypto, but his jumping on board the Luna bandwagon was a colossal embarrassment for the entire industry. Does that mean we should never listen to him again?
Why, in God’s name, would anyone want to follow the path of LUNA? No earthly idea here on this side of paradise, but that’s precisely what Justin Sun is doing—according to Coffeezilla. USDD looks like another scam. Maybe it is and maybe it isn’t. What we can know for sure is that investing in it is risky. Like, super risky.
The number of crypto wallets holding 10,000 BTC has grown. What does that mean?
How margin calls are disrupting the crypto market. What is protocol risk and why is it impacting crypto?
Muslim authorities have issued a fatwa on Islamic coin.
Why aren’t companies acting like crypto just crashed? A read more awesomer than the last awesome read. Be prepared to get angry, ensconced, on fire.
How Web3 creators can make the most of the crypto crash.
The National Hockey League is getting in on the NFT action. Pass the puck!
Doodles vs. Goblintown. Who wins?
Why NFTs are going to be around for a long time.
The government needs the private sector to test digital currencies.
What will the Bank of the Metaverse look like? What are the weak spots in metaverse security? How are companies monetizing the metaverse? These are all questions worth pondering. And, yes, there are answers.
A member of the British Parliament has thrown in the towel on the crypto revolution and proposes a “liberal” regulatory scheme. He says no country can stop it. Yeah, no shit.
Bank of International Settlements Asia head says stablecoins have no role as a form of money.
Snark and commentary in italics. Not financial advice. Not legal advice. Not advice. Just information and a feeble attempt at entertainment.
Cryptocracy is a decentralized newsletter published several 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: Mike Novogratz