@cryptocracy 6 November 2021 more from that month

The Tale of Three Mayors and Bitcoin

Guess what? Ethereum now has a market cap **higher than Visa or JPMorgan**. Meanwhile, the Luna market cap has hit **$38 billion**. Oh, and speaking of JPMorgan and Ethereum, the finance company says the blockchain is a better bet than Bitcoin **as interest rates rise**. Bakkt must think so too because they’ve **added ether** to their investor offerings. https://www.pymnts.com/cryptocurrency/2021/ethereums-market-cap-jumps-to-513-billion-surpasses-visa-jpmorgan-chase/ https://www.forbes.com/sites/youngjoseph/2021/10/01/terra-blockchain-completes-key-upgrade-as-luna-hits-38b-key-things-to-watch/ https://markets.businessinsider.com/news/currencies/ethereum-ether-bitcoin-crypto-defi-nfts-interest-rates-gold-jpmorgan-2021-11 https://www.coindesk.com/business/2021/11/05/bakkt-expands-cryptocurrency-offering-beyond-bitcoin-with-addition-of-ether/ Altcoins saw a **surge this week**, and I can’t find my surge protector. CRO hit an **all-time high** after listing on Coinbase. Bitcoin may still be dominant, but it’s **not as dominant** as it once was. https://cointelegraph.com/news/altcoins-surge-even-as-bitcoin-and-ethereum-price-fall-toward-key-support-levels https://www.fxempire.com/forecasts/article/cro-rallies-to-a-new-all-time-high-following-coinbase-listing-798526 https://www.coindesk.com/markets/2021/11/05/bitcoin-dominance-weakens-as-altcoins-rally/ And just when you thought it was safe to eat SQUID again, investors had the **rug pulled out from under them**. There are now $3.3 million worth of sore losers. https://gizmodo.com/squid-game-cryptocurrency-scammers-make-off-with-2-1-m-1847972824 A few days ago, Miami’s mayor announced he would **accept his salary in bitcoin**. Now there’s an epidemic of politicians jumping on this bandwagon. Tampa’s mayor will also **take bitcoin for payment**. New York’s mayor-elect says he’ll take his ****first three paychecks**** in bitcoin. Because there’s something magical about the number three? Well, some people are **embarrassed by that news**. And GovTech.com is asking if bitcoin is a **viable option** for paying government salaries. We are now officially inaugurated into the Brave New Internet. https://cryptopotato.com/miamis-mayor-to-become-the-first-us-politician-to-take-his-salary-in-bitcoin/ https://cointelegraph.com/news/tampa-mayor-to-accept-pay-in-bitcoin-report https://www.cbsnews.com/news/eric-adams-mayor-paycheck-bitcoin-cryptocurrency/ https://slate.com/technology/2021/11/eric-adams-bitcoin-new-york-city-ben-mckenzie.html https://www.govtech.com/budget-finance/is-bitcoin-a-viable-option-for-paying-government-salaries **From Coinbase:** Users can **borrow up to $1 million** using bitcoin as collateral. The exchange also plays around with new subscription service, **removing transaction fees**. And the company **throws a bone** to New York residents. Woof woof! https://www.mysanantonio.com/business/article/Coinbase-Allows-Users-to-Borrow-up-to-1-Million-16593437.php https://cryptomode.com/coinbase-experiments-with-a-subscription-service-to-remove-transaction-costs/ https://wccftech.com/it-is-official-now-coinbase-finally-allows-new-york-residents-to-trade-shiba-inu-shib-coin/ Ripple CEO wants Congress to **provide clarity** on crypto regulation. On the other side of the fence, regulators themselves are **asking Congress to write the rules**. There’s no doubt, crypto regulation is on the way. It’s not a matter of *if*, it’s a matter of *when*. In fact, the Department of Justice has created a **special crypto task force** to handle enforcement actions. The writing is on the wall. Oh, and NPR says the push to regulate crypto is causing **friction in Congress**. Nawwwww! https://ripplecoinnews.com/ripple-ceo-asks-us-congress-to-intervene-to-provide-regulatory-clarity/ https://www.nytimes.com/2021/11/01/business/stablecoins-cryptocurrency-regulation.html https://www.natlawreview.com/article/doj-trumpets-new-multi-faceted-cryptocurrency-task-force-what-means-you https://www.npr.org/2021/11/03/1052079396/the-push-to-regulate-cryptocurrency-could-cause-friction-in-congress Pennsylvania Senator Pat Toomey vows to **fix the broad definition of cryptocurrency** attached to the infrastructure bill currently stuck in the legislative process. http://flawed-cryptocurrency-broker-plan-in-infrastructure-bill-102711919.html/ One warehouse manager got **rich on SHIB**. Accidents happen. https://fortune.com/2021/11/04/shiba-inu-coin-shib-army-price-increase-warehouse-manager/ SEC director says cryptocurrencies **should not be an asset class**. https://markets.businessinsider.com/news/currencies/cryptocurrencies-asset-class-regulation-sec-director-securities-bitcoin-gensler-cftc-2021-11 3 common **crypto investing myths**. https://seekingalpha.com/article/4465362-three-common-crypto-investing-myths Kroger has been the target of a nasty crypto hoax. Someone sent a **fake press release** claiming the company will begin accepting bitcoin cash in its stores. As if anyone would want to pay for baked beans and produce with BCH. https://www.reuters.com/technology/kroger-says-press-release-announcing-acceptance-bitcoin-cash-is-fake-2021-11-05/ How to **write and compile your first Solidity code**. https://www.makeuseof.com/solidity-how-to-write-and-compile/ **What happens to your crypto** after you die? https://economictimes.indiatimes.com/news/how-to/what-happens-to-your-cryptocurrency-if-you-die/articleshow/87487324.cms Faux cryptowallet Google ads earned scammers **half a million buckaroos**. In similar news, crypto ATM and QR code scams are **on the rise**. Too bad temperatures are falling. https://threatpost.com/google-ads-cryptowallets-scammers/176047/ https://markets.businessinsider.com/news/currencies/cryptocurrency-scams-atms-qr-codes-fbi-warning-crypto-wallet-2021-11 BitTorrent Chain and TRON **integrate Binance Smart Chain**. Meanwhile, **a former IRS special agent** takes a job with Binance to lead in suspicious activity reporting. https://tronspark.com/bttc-tron/ https://www.coindesk.com/business/2021/11/05/binance-hires-former-irs-special-agent-to-head-suspicious-activity-reporting/ Is crypto obsession a form of **gambling addiction**? https://economictimes.indiatimes.com/markets/cryptocurrency/obsessed-with-cryptocurrencies-it-could-be-a-form-of-gambling-addiction/articleshow/87522802.cms What to do if you’re thinking of **leaving crypto to a loved one**. https://madison.com/business/investment/personal-finance/how-to-leave-crypto-to-a-loved-one/article_705b76f9-97e8-5e46-80c8-1bb7185d7dae.html Siam Commercial Bank Pcl, one of Thailand’s largest banks, is **buying a stake in Bitkub**, the nation’s largest crypto exchange. https://fortune.com/2021/11/03/thailand-crypto-exchange-newest-unicorn-siam-commercial-bank-bitkub/ Can Argentina be a bitcoin farmer? Yes, **thanks to Canada**. https://www.govtech.com/budget-finance/is-bitcoin-a-viable-option-for-paying-government-salaries *Look for my book* Cryptosocial: How Cryptocurrencies Are Changing Social Media *next march.* *None of this should be considered financial advice. I'm not a financial advisor. Do your own due diligence and seek the advice of a professional financial advisor before investing in crypto. First published at* *Cryptocracy**.* https://cryptocracy.substack.com/p/altcoins-surge-ethereum-passes-visa **Image credit:** Netflix via Gizmodo.