@cryptocracy 20 June 2022 more from that month

Elon Musk Sued for Dumping Dogecoin (Say What?) Bitcoin bounces, jumps above $20k again while Ethereum **shoots past $1,100**. El Salvador President Nayib Bukele addresses investor concern regarding the **bitcoin bear market**. How investors are **looking at bitcoin** right now. *Since El Salvador made bitcoin legal tender last year, investors surely want to know what he has to say.* https://www.coindesk.com/markets/2022/06/19/bitcoin-rebounds-past-20k-ether-soars-above-1100/ https://cointelegraph.com/news/el-salvador-president-addresses-bear-market-concerns-with-bitcoin-hopium https://ambcrypto.com/bottoms-up-how-investors-are-looking-at-bitcoin-right-now/ Elon Musk is being sued for **dumping Dogecoin**. *The claimant accuses Musk of racketeering. If he’s guilty, he should be charged with a criminal case against him, not a civil one. Follow a schmuck, you’re a schmuck. No payday for schmucks.* https://decrypt.co/103089/elon-musk-tesla-spacex-dogecoin-lawsuit FTX CEO Sam Bankman-Fried says the Fed is responsible for **the current crypto downturn**. *One one hand, he’s stating the obvious. On the other, there’s an underlying story here about the macroeconomy. Cryptocurrencies have correlated themselves with stocks and bonds, and we know the stock market moves with interest rate adjustments. In fact, a lot of things do. The crypto market is now one of them.* https://www.npr.org/2022/06/19/1105853170/crypto-billionaire-says-fed-is-driving-current-downturn **USDC flips USDT** in Ethereum daily transactions. *I fully believe USDC is destined to become the No. 1 stablecoin. Only* ***$12K billion*** *market cap between them. Bug off, Tether!* https://u.today/circles-usdc-flips-tethers-usdt-in-daily-transactions-on-ethereum https://coinmarketcap.com/ How Binance became **a hub for hackers, fraudsters, and drug traffickers**. **(AN INTERESTING READ)** *If true, expect the U.S. to file charges soon. Though it’s likely Binance won’t be the target.* https://www.reuters.com/investigates/special-report/fintech-crypto-binance-dirtymoney/

Coinbase says it could **cut more jobs**. https://www.thecoinrepublic.com/2022/06/19/coinbase-executive-reveals-more-job-cuts-can-happen-in-future/ Why XRP needs another **50 percent correction**. https://www.fxstreet.com/cryptocurrencies/news/why-ripple-needs-another-50-correction-before-investors-will-think-about-returning-202206191031 Tron’s USDD continues to **deviate from its peg**. https://cryptomode.com/trons-usdd-continues-to-deviate-from-its-1-peg-as-value-drifts-below-0-96/ Wealthy optimist says bitcoin could hit **$100,000 in 24 months**. *I think these big bulls says things like this to pump the market so they can cash out. Could bitcoin hit $100,000? Yes, but it will likely happen after the next halving. That puts the time frame just beyond 24 months, but let’s get real. Nobody really knows.* https://markets.businessinsider.com/news/currencies/bitcoin-price-outlook-100000-anthony-scaramucci-crypto-ethereum-bull-crypto-2022-6 Where Web3 **doesn’t make sense**. How SMBs and social media creators will get **a better deal** with Web3. But will it make a **good business model**? https://techcrunch.com/2022/06/19/box-ceo-aaron-levie-on-where-web3-doesnt-make-sense/ https://smallbiztrends.com/2022/06/web3-and-the-creator-economy.htmlhttps://smallbiztrends.com/2022/06/web3-and-the-creator-economy.html https://www.financialexpress.com/digital-currency/web3-0-as-a-business-model-of-a-decentralised-virtual-world/2566398/ 72 of the top cryptocurrencies are **90 percent below** their all-time highs. ICP is down the most at 99.28 percent. *It likely won’t survive the winter.* https://www.benzinga.com/markets/cryptocurrency/22/06/27760641/cryptocurrencies-down-the-most-from-all-time-highs-and-no-its-not-doge-or-shib What a bank or financial institution DAO would **look like**. https://cointelegraph.com/explained/how-a-dao-for-a-bank-or-financial-institution-will-look-like Sports fans are twice as likely as everyone else to **buy NFTs**. Now NFT games are reshaping **the gaming industry**. Can NFTs help solve **the carbon problem**? Here are answers to **125 questions** about NFTs. https://decrypt.co/103262/sports-fans-twice-as-likely-to-buy-bitcoin-ethereum-nfts https://www.jpost.com/special-content/how-nft-games-are-reshaping-the-gaming-industry-709813 https://techacute.com/125-questions-about-nfts-answered/ Is there a crypto bubble? The situation is **more complicated** than you think. https://gritdaily.com/the-crypto-bubble-is-bad-right-well-it-is-complicated/ Will e-commerce be the **largest economic force** in the metaverse? There’s a battle going on to build a **child-friendly metaverse**. Who will win? Of course, the metaverse will likely create **10 new jobs**. *I suspect it will create more than just 10 new jobs.* https://techwireasia.com/2022/06/e-commerce-economic-force-metaverse/ https://techxplore.com/news/2022-06-child-friendly-metaverse.html https://technative.io/10-new-jobs-the-metaverse-is-creating/ *Snark and commentary in italics. Not financial advice.* 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.* https://cryptocracy.substack.com/p/elon-musk-sued-for-dumping-doge