@cryptocracy 6 June 2022 more from that month

Bitcoin May Be The Great Equalizer, But Depp Has NFT Power Bitcoin is destined to be **one of the best assets** on planet earth. *Some might say it already is.* It could also be the **ultimate equalizer**. https://finbold.com/bitcoin-will-be-one-of-best-assets-on-earth-after-inflation-subsides-says-commodity-strategist/ https://www.coindesk.com/business/2022/06/05/bitcoin-might-in-fact-be-the-great-equalizer/

The Bored Ape Yacht Club’s Discord server was hacked. Hackers got away with **$360,000 worth of NFTs**. https://fortune.com/2022/06/04/bored-ape-yacht-clubs-discord-server-was-hacked-with-360000-in-nfts-stolen-blame-debated/ Binance to open an **office in Idaho**. *Is CEO Changpeng Zhao (CZ) the new Mr. Potato Head?* CZ says Binance Labs **lost $1.6 billion** on Terra investment. https://www.tronweekly.com/binance-us-set-to-open-shop-in-idaho/ https://u.today/binance-ceo-reveals-16-billion-loss-in-terra-investments Robinhood to release a **non-custodian Web3 crypto wallet**. *Robinhood is a popular Web2 investing app. They really don’t want to miss the Web3 boat, and I don’t blame them. The question is, are non-custodian wallets the future of crypto wallets? Other than MetaMask, the most popular wallets on the market today are custodial wallets. That’s a problem.* https://cryptonewsbtc.org/2022/06/05/robinhood-plans-to-release-a-web3-crypto-wallet-where-users-can-hold-their-own-crypto-and-nfts/ USDC outperformed USDT in May. But USDD’s market cap **climbed 635 percent**. Tron modifies its stablecoin to **prevent another TerraUSD fiasco**. https://coingape.com/usdc-outperforms-tethers-usdt-in-may-heres-why/ https://www.bloomberg.com/news/articles/2022-06-05/tron-modifies-usdd-stablecoin-to-avoid-woes-of-terrausd Do Kwon, founder of the Terra blockchain, isn’t likely to face **criminal charges in the U.S**., legal experts say. Meanwhile, Terra developers are **getting offers** from other blockchains. *Last month, South Korea initiated an* ***investigation into Do Kwon****. The outcome of that is yet to be determined. In the U.S., there’s got to be clear evidence that he purposefully set out to defraud investors, and it’s not likely that anyone is going to see that he did that. However, he could be the subject of civil lawsuits.* https://news.bitcoin.com/do-kwon-unlikely-to-face-criminal-charges-in-us-say-legal-experts/ https://www.thecoinrepublic.com/2022/06/03/terra-developers-get-lured-with-better-offers-from-rival-companies/ https://techcrunch.com/2022/05/20/terra-creator-do-kwon-faces-prosecutions-in-south-korea/ KuCoin is launching a **decentralized wallet platform**. https://cointelegraph.com/news/kucoin-plugs-into-web3-with-new-decentralized-wallet If there’s one thing Americans love, it’s a good drama. For the past month, they’ve had their thirst quenched with the Johnny Depp-Amber Heard **defamation lawsuit** (*Jack Sparrow v. Mera*). Nevermind the outcome, after the verdict, Johnny Depp’s NFT collection **soared to the moon**. *Just one more evidence that Americans admire bad boys more than bad girls.* https://www.npr.org/2022/06/01/1102118755/depp-heard-trial-verdict https://indianexpress.com/article/technology/crypto/johnny-depps-nft-collection-surges-in-price-after-defamation-trial-verdict-7952645/

How super networks could **take over traditional business models**. **(An excellent read!)** *While I like the idea of the network economy, I think it will be a long time before it replaces the traditional business model. Three things that will need to happen before today’s business models are replaced by DAOs are … 1) mass adoption of crypto; 2) the death of the entire Baby Boomer generation and half of Generation X; and 3) the fall of America as a superpower. Great idea, though.* https://superbenefit.mirror.xyz/unisNGUtHyRF7Zcp9CBbC-VhICOvVm0uzTFJUPX-Icg **Newly published book** claims to take readers on a journey to discover the true identity of Satoshi Nakamoto, creator of bitcoin. *Paint me skeptical. Full disclosure: I have NOT read the book.* https://news.bitcoin.com/a-newly-published-book-claims-to-tell-the-real-story-behind-mysterious-bitcoin-creator/ The next time you eat at Chipotle, you could **pay for your taco bowl with crypto**. https://nairametrics.com/2022/06/04/american-fast-food-giant-chipotle-accepts-crypto-as-digital-payment-option/ Solana surpasses $2 billion in **all-time NFT sales**. https://beincrypto.com/solana-surpasses-2-billion-all-time-nft-sales/ What one Web2 fintech founder discovered after **diving head first into Web3**. Is Web3 **the promised land**, or just an empty promise? https://sifted.eu/articles/web2-web3-fintech/ https://venturebeat.com/2022/06/05/how-the-privacy-and-data-storage-features-of-web3-can-empower-societies/ How cryptocurrencies create a **memetic economy**. **(ANOTHER GREAT READ)** https://www.coindesk.com/layer2/2022/06/05/the-meme-economy/ A Staten Island Metaverse is offering potential buyers access to **Don Corleone’s house** in its virtual world. *The only thing that could make this more meta is for Marlon Brando to make an appearance. Think we can make him an offer he can’t refuse?* https://nypost.com/2022/06/04/the-godfather-fans-bid-on-fake-property-in-nyc-metaverse/ Scammers have got away with **$1 billion in crypto** since 2021. *But thank God for that free NFT airdrop!* https://www.cnn.com/2022/06/04/business/cryptocurrency-scammers-ftc-warning/index.html How to get your **.vr NFT domain name**. https://coinnounce.com/quik-vr-nft-domains-how-to-get-yours/ Crypto skeptic says mom and dad investors will get **crunched**. https://www.news.com.au/finance/money/investing/crypto-expert-says-mumanddad-investors-are-going-to-get-absolutely-wrecked/news-story/540f7f6e40be322726ae866ba617ae4b The **metaverse is dead**, and it hasn’t even been born yet. But did you know you can **create your own metaverse** (**A TED Talk podcast**)? https://waleedao.medium.com/the-metaverse-is-dead-and-it-did-not-even-arrive-yet-f6954817148c https://podcasts.apple.com/au/podcast/build-your-own-metaverse-and-share-it-agnes-larsson/id160904630?i=1000565143077 Looking for stablecoin alternatives? Look no further. **You’ll love these**. *Or maybe you won’t.* https://beincrypto.com/unstablecoins-some-alternatives-to-get-you-through-a-crypto-winter/ *Snark and commentary in italics. Call me a superhero. Just don’t call me Johnny Depp.* 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/is-bitcoin-the-ultimate-equalizer?s=w Image credits: Bitcoin - CoinDesk; Depp-Heard - AP Photos