@cryptocracy 15 August 2022 more from that month

Bitcoin at $25K, Solana NFTs, and Ethereum's 5-Year Low Bitcoin **tops $25,000**. Is the bear market over? Why bitcoin politics should be approached at **the local level**. Michael Saylor says bitcoin will **demonetize gold**. *There will be more dips in the market before we see it soar. Don’t count crypto out of the woods yet.* https://cointelegraph.com/news/bitcoin-hits-25k-as-bearish-voices-call-btc-price-double-top https://bitcoinmagazine.com/culture/approaching-bitcoin-politics-at-state-and-local https://u.today/bitcoin-will-demonetize-gold-says-michael-saylor Ethereum on-chain activity reaches **5-year low**. Meanwhile, proposed fork token loses **half its value in six days**. https://u.today/ethereum-on-chain-activity-reaches-5-years-low-but-there-is-nothing-wrong-with-it https://news.bitcoin.com/proposed-ethereum-pow-fork-token-loses-half-its-market-value-in-less-than-6-days/ Binance **holds more bitcoin** than any other exchange. https://coinposters.com/news/bitcoin/binance-is-the-exchange-with-the-most-bitcoin-holdings/ OpenSea is now requiring victims of NFT theft to **report it to the police** before stolen NFTs are removed from the platform. *Ehr?* https://www.thegamer.com/stolen-nfts-reported-police-opensea/ Coinbase says Layer-2 solutions will **cannabilize Ethereum’s revenue**. Read the **full report**. https://dailyhodl.com/2022/08/13/coinbase-warns-polygon-matic-and-other-scaling-solutions-pose-a-threat-to-ethereum-eth-price-heres-why/ https://www.coinbase.com/institutional/research-insights/research/monthly-outlook/could-l2s-eat-ethereums-lunch-august-2022 Solana NFT sales hit all-time high of **$1.2 billion**. *Despite its challenges, Solana is killing it. How long will this last?* https://ambcrypto.com/sols-nft-dominance-sees-new-1b-highs-thanks-to-you/

Justin Sun, founder of Tron, has had his **Aave wallet blocked** because it received a small amount of ETH through a Tornado Cash account. One Leo Finance poster examined the wallet itself and found **evidence of Sun’s wallet** the recipient of a dusting attack. *You don’t have to like Justin Sun to see the injustice here.* https://cryptoslate.com/defi-protocols-aave-uniswap-balancer-ban-users-following-ofac-sanctions-on-tornado-cash/ https://hive.blog/hive-167922/@shortsegments/dusting-attack-on-justin-sun-results-in-the-freezing-of-200-million-dollars-of-his-funds-in-aave#@shortsegments/re-shortsegments-3e37oz

The collapse of TerraUSD **could be a good thing**. https://www.financial-world.org/news/news/cryptocurrency/14821/the-collapse-of-the-terrausd-stablecoin-could-be-a-good-thing/ Robinhood has launched its **crypto wallet for testing** by 1,000 users. https://www.inferse.com/183923/robinhood-crypto-wallet-testing-is-live-1000-users-can-now-withdraw-cointelegraph/ How the top 10 market cap has **changed over time**. https://en.cryptonomist.ch/2022/08/15/market-cap-how-top-10-crypto-changed/ Should traditional banks **embrace bitcoin**? https://guardian.ng/saturday-magazine/brand-intelligence/should-conventional-banks-embrace-bitcoin/ BlueBenx halts withdrawals after **$32 million hack**. What DeFi offers **beyond crypto lending**. *Who needs FUD when we all know our crypto isn’t safe?* https://techstory.in/crypto-lending-platform-bluebenx-halts-withdrawals-citing-a-32-million-hack/ https://cryptonews.com/exclusives/what-defi-offers-beyond-lending-for-crypto-speculation.htm How the digital euro will impact the **financial system in Europe**. https://www.financialexpress.com/digital-currency/how-will-the-digital-euro-initiative-affect-the-current-financial-system/2629807/ Should **manipulating crypto mining markets** be illegal? **(A MUST-READ)** *This paper published by the Bank for International Settlements (BIS) highlights a type of attack that has been occurring on the Ethereum blockchain for at least a couple of years. It illustrates a weakness in proof-of-work (POW) blockchains. While Ethereum is moving away from POW, those who profit from this type of tinkering are hurting the blockchain and will move into proof-of-stake with an advantage. They could also be manipulating other POW blockchains—perhaps even Bitcoin.* https://www.bis.org/publ/bisbull58.pdf

How Tiffany **made $15 million** from CryptoPunk NFTs. https://www.fool.com/investing/2022/08/13/how-tiffany-made-15-million-from-cryptopunk-nfts/ If you don’t think the metaverse is a big deal, **you’re not looking at it right**. Who’s **running the doggone metaverse**, anyway? Nvidia has unveiled **new tools for the metaverse**, *and you’re probably going to want them*. https://cryptomode.com/if-you-still-think-the-metaverse-isnt-a-big-deal-youre-probably-looking-at-it-the-wrong-way/ https://venturebeat.com/virtual/whos-running-this-metaverse-anyway/ https://coingeek.com/nvidia-unveils-new-tools-for-metaverse-push/ LongHash Ventures rolls out **$100 million Web3 investment fund**. https://bitcoinist.com/longhash-ventures-rolls-out-web3-investment-fund-platform-worth-100m/ Actor Jim Carrey is also an artist with **his very own NFT**. https://www.thewrap.com/jim-carrey-nft-artwork-divine-gift-sunshowe/ Celestia wants users to create a blockchain with a **click of a button**. https://cointelegraph.com/news/celestia-launching-a-blockchain-to-be-as-easy-as-deploying-a-smart-contract EtherMail **snags $3 million** for Web3 email tool. Meanwhile, MailChimp has **deactivated the account** of news publication Decrypt. https://pitchbook.com/newsletter/ethermail-pockets-3m-for-web3-email-tool https://decrypt.co/107305/war-on-crypto-from-bitcoin-mixer-tornado-cash-sanctions-to-mailchimp Zimbabwe to **launch a CBDC**. https://www.pymnts.com/cbdc/2022/zimbabwe-has-roadmap-to-cbdc-says-central-bank-governor/ **Reminder:** Learn how to **use Publish0x to earn crypto** while learning about crypto. Totally free microclass. https://www.clubhouse.com/event/M6j72NNV

*Snark and commentary in italics. Shoes on my feet.* 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. Do your own research.* https://cryptocracy.substack.com/p/bitcoin-tops-25000 Image credits: Solana NFTs, AMBCrypto; miner extractable value, BIS; the rest are screenshots