Is Bitcoin Tribalism Killing Crypto?

Ripple CEO Brad Garlinghouse criticizes bitcoin tribalism saying that different use cases for cryptocurrencies is a good thing. In other news, an XRP attorney explains how both Ripple and the SEC could win in the ongoing lawsuit. When people make sense, I agree with them. In this case, Garlinghouse makes perfect sense.

Does the ERC-721R protocol spell the end of NFT rug pulls? Maybe, maybe not. But KuCoin customers now have access to a $100 million creators fund. Interested in flipping NFTs? Follow this little guide. UAE Emirates is flying high with NFTs on their way to the metaverse. Meanwhile, Mintbase has $12.5 million in grants for NFT infrastructure projects. How NFTs are a new way to monetize brands. What inquiring minds really want to know is how would a recession impact NFTs?

Block CEO Jack Dorsey, and former CEO of Twitter, says Ethereum has “many single points of failure.” Unlike Garlinghouse, Dorsey is a bitcoin maximalist. In other words, he doesn’t make nearly as much sense. And he’s not even leader of the tribe. No worries! Strike CEO agrees that the bitcoin network is superior to everything else. Case closed, I guess.

A federal court in New York dismisses class-action lawsuit against Binance. On another note, Binance.US is heading to Puerto Rico.

The Monero community has confirmed a pending hard fork in July. Earlier this week, Monero surged in value even as other cryptocurrencies declined. In fact, the privacy coin hit a 5-month high.

Popular metaverse game The Sandbox is looking at a $400 million fundraise that will give it a $4 billion valuation. Anyone else looking for opportunities to build in the metaverse have at least seven different rising options.

What’s the big deal about algorithmic stablecoins? How do they work, and why did Mark Cuban lose so much money on them? This is an important question considering the third highest ranking stablecoin by market cap is an algorithmic stablecoin.

The Secret Service has seized $102 million in cryptocurrencies.

What you need to know about the King of the Lunatics.

The Big Short author says cryptocurrencies may soon come crashing down. Of course, real markets are no movie script.

Crypto stocks perform worse than cryptocurrencies. Of course, it’s all a “buyer-beware” market.

MetaMask warns iCloud users to disable backups. One iCloud user laments how he lost $650,000 in crypto in seconds.

Canada could be looking at a 10-fold increase in crypto-trading platforms. Vancouver-based WonderFi is buying its second crypto exchange for $38 million. What a tear!

What is liquid staking?

Beanstalk lost $182 million in seconds in a heist that wasn’t illegal. Where’s Jack when you need him?

The Financial Action Task Force says nearly half of all jurisdictions still aren’t applying crypto laundering norms.

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.

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