@cryptocracy 11 June 2022 more from that month

Are Small Businesses Leading Bitcoin Payments Adoption? Bitcoin miners in Washington state will see a **29 percent increase** in hydroelectric energy cost. Speaking of bitcoin, could it be that small businesses will **usher in the grand old age** of BTC as a payments channel? That’s possible, but Ethereum founding member Anthony Donofrio throws bitcoin **a sucker punch**. *Before you know it, all the bitcoin miners in the U.S. will end up moving to Texas. If that leads to mass adoption, so be it. Screw the sucker punches.* https://decrypt.co/102420/bitcoin-miners-will-see-29-rate-hike-hydroelectric-power-washington https://www.coindesk.com/business/2022/06/09/how-bitcoin-could-power-a-new-wave-of-small-business-innovation/ https://cointelegraph.com/news/bitcoin-s-real-energy-use-questioned-as-ethereum-founder-criticizes-btc An anonymous petition calls for the **ouster of three Coinbase executives**. CEO Brian Armstrong lashed out in a Twitter thread saying **remote work is the problem**. *Remote work didn’t cause employees, if the petition was circulated by employees, to suddenly take issue with Coinbase management. On the other hand, if you’ve got a beef with company management, take it to company management—and put your freaking name on it. Fortune doesn’t favor sissies.* https://www.coindesk.com/business/2022/06/10/you-will-be-fired-coinbase-ceo-brian-armstrong-lambastes-anonymous-operation-revive-coin-petitioner/ https://fortune.com/2022/06/10/coinbase-ceo-brian-armstrong-employee-petition-remote-work/ Some crypto exchanges are **delisting Litecoin**. *Can you guess why?* https://coingeek.com/why-did-upbit-and-bithumb-just-delist-litecoin/ Good ol’ boy Do Kwon and Terraform Labs, creator of the Terra blockchain, allegedly hold **42 million LUNA** in secret wallets. https://timestabloid.com/exposed-do-kwon-and-terraform-labs-hold-42-million-luna-in-secret-wallets-despite-claims-of-holding-none/ Ethereum Co-Founder and Cardano Founder Charles Hoskinson says Ethereum’s Merge **won’t happen until 2023**. He also says the Terra fiasco has caused his development team to be more cautious **with their Vasil upgrade**. https://bitcoinist.com/ethereum-merge-not-coming-until-2023/ https://dailyhodl.com/2022/06/09/cardano-creator-charles-hoskinson-says-terra-luna-collapse-has-triggered-one-massive-change-in-ada-development/ One crypto ATM user swears to **never use one again**. https://www.businessinsider.com/crypto-bitcoin-atm-vape-florida-west-palm-beach-ethereum-2022-5

Former Twitter CEO Jack Dorsey is jumping from **Web3 to Web5**. He believes the decentralized web should be about **data and identity**, not tokens. Social networking protocol Zion, which uses Bitcoin’s Lightning Network, is migrating to **Dorsey’s new platform**. *I’ve been a member of Zion since the beginning of this year. I still haven’t figure out what I’m supposed to do with it. I hope v2 is an improvement, but I can’t help but wonder if Dorsey’s attempt to bypass Web3 is just another land grab.* https://www.coindesk.com/business/2022/06/10/jack-dorseys-tbd-announces-web-3-competitor-web5/ https://developer.tbd.website/projects/web5/ https://blog.zion.fyi/announcing-zion-v2-a-web5-app-44ac7d66b1e1 Tether is **launching USDT on Tezos**, but is it losing the **stablecoin war**? *I’ve been watching USDC slowly gaining on USDT. Tether is currently third in market cap ranking while USDC is fourth. There’s only $20 billion* ***between them****. By the next bull run, however, that $20 billion could disappear, or flip. USDC is far more trustworthy than USDT. Is there anyone who would disagree?* https://cryptoslate.com/tether-has-announced-that-it-will-launch-usdt-on-the-tezos-network/ https://ambcrypto.com/is-tether-usdt-losing-the-stablecoin-war-against-usdc-and-busd/ https://coinmarketcap.com/ PayPal CEO Dan Schulman says allowing crypto to move out of PayPal is the “**first step**” from a fiat-dominated world to a digital currency-dominated planet. *I thought the creation of bitcoin was the first step.* https://fortune.com/2022/06/10/paypal-transfers-crypto-walled-garden-fiat-digital-currency-dan-schulman/ MasterCard is allowing its cardholders to **purchase NFTs**. And Salesforce is launching its own **NFT platform**. *Why? Seriously, why?* https://cointelegraph.com/news/mastercard-to-allow-2-9b-cardholders-to-make-direct-nft-purchases https://www.fool.com/the-ascent/cryptocurrency/articles/salesforce-launches-nft-platform/ What would Ripple look like today if **this had happened**? https://www.axios.com/pro/fintech-deals/2022/06/10/stripe-considered-buying-crypto-payments-company-ripple-in-2013 Neal Stephenson, the science fiction writer who coined the word “metaverse” is **creating his own metaverse**. *Perhaps he should change his name to Meta Verse.* https://crypto-economy.com/lamina1-science-fiction-writer-neal-stephenson-to-bring-metaverse-into-reality/ You can now hang your NFTs on the wall of your tiny home for **just $9,000**. *At least it doesn’t cost an arm and a leg.* https://www.theverge.com/23153515/nft-frames-digital-art-wallet-tokens Sir Anthony Hopkins, 84, has purchased an **ENS domain name** and asked other celebrities for advice on what NFT to buy. *He should issue a series of Hannibal Lecter NFTs. I’d like to see a mad rush on a psychotic serial killer.* https://decrypt.co/102370/anthony-hopkins-adopts-ethereum-name-asks-snoop-for-nft-buying-advice Russian feminist protest group Pussy Riot staged a defiant jab to manhood at the Texas State Capitol and **minted a commemorative NFT** to immortalize the moment. https://decrypt.co/102500/pussy-riot-crashes-texas-state-capitol-mints-commemorative-nft U.S. Deputy Secretary wants to **KYC your private crypto wallet**. This has been suggested before. *My answer is still the same: Fourth Amendment!* https://www.pymnts.com/crypto-wallet/2022/treasury-dept-sec-crypto-wallet-id-rules-allow-innovation/ Alex Bentley doesn’t fully trust Web3, and he **doesn’t want you to either**. Mattel wants your children to **play with its cryptoys**, NFT versions of Barbie and Hot Wheels. And for mom and dad, you can have your own **NFT toys** (*warning: it involves something people used to do and didn’t talk about*). *Somehow, I don’t think these toys will be nearly as fun to play with. The children’s toys, I mean.* https://medium.com/crypto-unchained/web3-wont-save-the-internet-43ba5702eae7 https://gizmodo.com/mattel-crypto-web3-cryptoys-metaverse-barbie-hot-1849045507 https://opensea.io/assets/matic/0x2953399124f0cbb46d2cbacd8a89cf0599974963/100848995202982062284886697025807343163033435150263146968943689866722074951681 *Snark and commentary are like gravy. Not necessary, but they make the food taste better. I hope you enjoy the gravy.* 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.* https://cryptocracy.substack.com/p/will-small-businesses-lead-the-way?s=w Image credit: Business Insider