@cryptocracy 16 July 2022 more from that month

Bitcoin's 'Extreme Fear' Run + Ethereum's Merge Bitcoin has entered the **longest “extreme fear” period** in its history. Blockchain CEO says bitcoin mining will **continue to flourish** in the U.S. **Limiting crypto mining** helped the Texas power grid. https://cointelegraph.com/news/bitcoin-is-now-in-its-longest-ever-extreme-fear-period https://finance.yahoo.com/video/bitcoin-mining-going-continue-flourish-161455335.html https://www.washingtonpost.com/climate-solutions/2022/07/15/bitcoin-crypto-texas-heat-wave/ Ethereum developers put a date on the Merge: **September 19**. The price jumps 13 percent as whales **shore up positions**. How the Merge will reduce Ethereum’s **carbon footprint**. *There have been a lot of promises made regarding the Merge’s impact on Ethereum, its gas prices, the environment, etc. If the biggest upgrade in crypto’s history fails, it will not bode well for the ecosystem. Can you say “Blockchain Armageddon?”* https://cointelegraph.com/news/ethereum-dev-confirms-perpetual-date-for-pos-merge https://fortune.com/2022/07/15/ethereum-crypto-ether-price-jump-merge-whales/ https://www.cnet.com/personal-finance/crypto/ethereum-merge-how-cryptos-carbon-footprint-is-about-to-shrink/ Coinbase is temporarily **shutting down** U.S. affiliate program. Is the exchange **losing its dominance**? On the bright side—or the funny side, if you will—Coinbase will premier comedian Bill Murray’s **biographical NFT collection**. https://www.businessinsider.com/coinbase-temporarily-shutting-down-us-affiliate-marketing-program-for-influencers-2022-7 https://u.today/coinbase-losing-its-dominance-heres-why https://cointelegraph.com/news/bill-murrays-biographical-nft-project-set-to-be-premiered-by-coinbase Celsius shows a **$1.19 billion deficit**. SEC Chair Gary Gensler discusses **crypto lending protections**. https://www.reuters.com/business/finance/crypto-lender-celsius-network-reveals-119-billion-hole-bankruptcy-filing-2022-07-14/ https://cryptonews.com/videos/sec-chair-on-the-outlook-for-crypto-protections-and-lending-programs.htm DeFi coins **outperform bitcoin and ether**. https://www.coindesk.com/markets/2022/07/15/defi-coins-outperform-bitcoin-ether-as-traders-pare-bets-on-jumbo-fed-rate-hike/

Ripple survey: 70 percent of financial leaders believe central bank digital currencies (CBDCs) are the **future of fiat**. Where central banks have **issued CBDCs**. Nasdaq provides **6 design principles** for CBDCs. **105 countries** are working on a digital currency. *I agree with the 70 percent. Fiat money will not likely go away any time soon, but CBDCs will rise in importance and practice.* https://finbold.com/new-ripple-survey-shows-70-of-financial-leaders-believe-cbdc-is-the-future-of-fiat/ https://www.forbes.com/sites/katharinabuchholz/2022/07/15/where-central-banks-have-issued-digital-currencies-infographic/?sh=774e758a513e https://www.nasdaq.com/articles/6-design-principles-for-a-successful-central-bank-digital-currency https://www.einnews.com/pr_news/580426780/atlantic-council-s-director-lipsky-105-countries-are-working-on-digital-currency Binance CEO expects inflation to hit **500 percent**. https://www.newsbtc.com/news/binance-ceo-anticipates-inflation-to-grow-by-500/ CoinFLEX **limits withdrawals**, locks most assets. *Are you seeing the trend here?* https://blockworks.co/crypto-exchange-coinflex-limits-withdrawals-keeps-most-assets-locked/ U.S. crypto mining rivals **energy use of Houston**. *One can’t help but wonder how Ethereum’s Merge will impact energy use data in crypto mining.* https://www.nytimes.com/2022/07/15/climate/cryptocurrency-bitcoin-mining-electricity.html Craft beer has entered the **cool new space of NFTs**. Non-fungible tokens have also found their way into the **cannabis garden**. Car makers **are cautious**, however. Jay and Silent Bob are getting their own **NFT collection**. And the NFL is offering **commemorative ticket NFTs** to 100 games in the 2022 season. *Will we ever stop seeing creative uses for NFTs? I think not.* https://www.5280.com/2022/07/nfts-are-the-new-cool-craft-beer-collectibles/ https://www.westword.com/marijuana/cannabis-nfts-have-arrived-11983224 https://www.thenationalnews.com/business/cryptocurrencies/2022/07/16/car-manufacturers-take-a-cautious-approach-to-nfts-after-corvette-failure/ https://news.bitcoin.com/funko-plans-to-launch-jay-and-silent-bob-nft-collection-via-the-digital-collectibles-platform-droppp/ https://www.sportspromedia.com/news/nfl-nft-tickets-ticketmaster-2022/ Web3 threatens to **democratize donations**. Like NFTs, cannabis has discovered the **wild and wonderful world of Web3**. https://cointelegraph.com/news/the-new-philanthropic-frontier-how-web3-could-democratize-donations https://www.forbes.com/sites/forbestechcouncil/2022/07/15/2022-when-web3-and-cannabis-collide/?sh=249486ad5f12 If the metaverse was a movie, **would it be a comedy**? **Open and closed metaverses**: What’s the difference? **Advertising and privacy** in the metaverse. **Surveillance** in the metaverse. If you read anything about the metaverse, let it be **Matthew Ball’s guide**. *Don’t buy the hype. Keep your eyes open. Just as all promises of utopia in the past, someone is going to abuse the opportunity.* https://thedefiant.io/if-the-metaverse-was-a-movie-would-it-be-a-comedy/ https://www.coinspeaker.com/guides/open-vs-closed-metaverse-complete-guide/ https://www.forbes.com/sites/forbesnonprofitcouncil/2022/07/15/advertising-and-privacy-the-rules-of-the-road-for-the-metaverse/?sh=7564493457ba https://www.mi-reporter.com/opinion/learning-surveillance-and-the-metaverse-do-you-mind-being-watched-guest-column/ https://www.bloomberg.com/news/newsletters/2022-07-15/venture-capitalist-matthew-ball-has-written-a-new-book-about-the-metaverse Will **decentralizing drug research** fix the disease problem? https://www.coindesk.com/layer2/2022/07/15/a-dao-for-diseases-how-vibe-bio-plans-to-retool-biotech-funding/ **Crypto fraud** comes to ATMs. Bitcoin of American **adds ZCash** to its ATMs. https://www.scmagazine.com/analysis/cybercrime/now-offering-cryptocurrency-atm-machines-targeted-for-crypto-fraud https://www.atmmarketplace.com/news/bitcoin-of-america-adds-zcash-to-atms/ Putin **limits digital assets payments** in Russia. https://news.bitcoin.com/putin-signs-law-prohibiting-payments-with-digital-assets-in-russia/ Central African Republic **launches Sango Coin**. Sales to begin soon. https://www.reuters.com/world/africa/central-african-republic-launches-sango-coin-cryptocurrency-amid-industry-rout-2022-07-15/ South Africa plans to **regulate cryptocurrencies** as a financial assets. https://www.thenewsminute.com/article/sa-accept-crypto-asset-class-central-banks-face-key-decisions-digital-currency-165889 *Snark and commentary in italics. Why should Saturday be any different?* 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/bitcoins-longest-extreme-fear-period Image credit: IntoTheBlock via CoinDesk