June 2022: Bitcoin's Worst Month Ever
In June, bitcoin had its worst month ever. Here are five reasons why. Some experts are saying the crypto winter will get worse. Is bitcoin a hedge against or the cause of inflation? Deutsche Bank analyst says it will recover to $28,000 by December. One thing we can be sure of, bitcoin will go up or down. Whichever way it goes first, it will move in the opposite direction later. It could be at $28,000 by December, or it could be at $8,000. Take what you read with a grain of salt.
Crypto winter could slow Ethereum challengers. A no-brainer?
Coinbase has been accused of selling software to the U.S. government for tracking crypto transactions. Of course, they deny it. Wouldn’t you?
Tether reduces commercial paper by nearly 60 percent, but why is it’s $16 billion ‘bank run’ significant? Tether will likely lose its status as the No. 1 stablecoin by market cap by the middle of next year, if not sooner.
Ripple releases $1 billion XRP. Colombia launches national land registry on XRP Ledger. Co-founder Jed McCaleb has sold nearly all of his reserves. These are all big news. XRP could plummet or soar depending on the outcome of its lawsuit with the SEC. My bet is soar.
FTX signs deal to snap up BlockFi. It’s been a crazy year for crypto lending. Expect more consolidation in the crypto space as a whole.
Three Arrows Capital heads for liquidation.
MicroStrategy buys 480 bitcoin.
OpenSea was hacked. Its $13 billion valuation makes no sense.
eBay has filed trademark applications for several metaverse and NFT services.
DappRadar and LayerZero launch chain-agnostic staking token. We need more chain-agnostic staking tokens.
Meta is pulling the final plug on its Diem project by phasing out Novi, the money transfer service. Facebook’s parent company begins testing NFT integration on the most popular social media platform. What took so damn long?
NFT sales hit a 12-month low. Even still, Moonbirds goes beyond $500 million in sales.
Which celebrities talk about crypto the most? You’ll be surprised. No, it’s not Kim Kardashian or Floyd Mayweather.
19 reasons John Nash was Satoshi Nakamoto. While this is an interesting read, it’s widely accepted that John Nash was NOT Satoshi. It’s likely that Satoshi was very familiar with John Nash’s writings and that’s why you see so many similarities in their philosophies.
FBI issues $100,000 reward for OneCoin cryptoqueen.
Ex-Google CEO Eric Schmidt says there is no agreed-upon definition of the metaverse.
MakerDAO members elect to remain decentralized. Some proposals are simply silly.
Will centralized and decentralized systems run in parallel? I’ve already said that I believe this will be the case. Web3 will grow, but it won’t grow as quickly as Web2 grew. It will take a longer time, but Web2 will eventually fade into the background. By then, we could be looking at Web4.
Listen to this: Digital currency wars.
11 ways companies should prepare for a decentralized Web3. Does Web3 need more in-person gatherings?
Former lead maintainer of Monero, Ricardo Spagni aka Fluffypony, surrenders to South Africa, and he’s being extradited. He’s been accused of corporate fraud and has been held in the U.S. since last year.
Why brands should adopt a hybrid DAO model.
Napster plans a Web3 relaunch.
On Hive, the largest HBD savings account earned 13086.373 HBD in June 2022.
Around the World With Crypto
The European Union establishes first crypto rules. How that will make Europe a global leader.
Speculation-free NFTs? Tech giants say it’s so in China.
Aussie digital currency exchange Banxa reduces workforce by 30 percent.
Argentina seizes crypto wallets of tax delinquents.
Half of Latin Americans have used cryptocurrencies.
Snark and commentary in italics. Not financial advice. Not a song and dance. Just good old-fashioned curating.
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.