@cryptocracy 20 April 2022 more from that month

Is Bitcoin Tribalism Killing Crypto? Ripple CEO Brad Garlinghouse criticizes **bitcoin tribalism** saying that different use cases for cryptocurrencies is a good thing. In other news, an XRP attorney explains how both **Ripple and the SEC could win** in the ongoing lawsuit. *When people make sense, I agree with them. In this case, Garlinghouse makes perfect sense.* https://www.cnbc.com/2022/04/20/bitcoin-tribalism-holding-the-crypto-industry-back-ripple-ceo-says.html https://coingape.com/ripple-vs-sec-xrp-lawyer-both-sides-win/ Does the ERC-721R protocol spell the **end of NFT rug pulls**? *Maybe, maybe not.* But KuCoin customers now have access to a **$100 million creators fund**. Interested in flipping NFTs? **Follow this little guide**. UAE Emirates is flying high with NFTs **on their way** to the metaverse. Meanwhile, Mintbase has **$12.5 million in grants** for NFT infrastructure projects. How NFTs are a new way to **monetize brands**. What inquiring minds really want to know is how would a recession **impact NFTs**? https://www.coindesk.com/layer2/2022/04/19/the-end-of-nft-rug-pulls/ https://www.coindesk.com/business/2022/04/19/crypto-exchange-kucoin-launches-100m-fund-for-nft-creators/ https://www.business2community.com/nft/how-to-flip-nfts https://news.bitcoin.com/uae-airliner-emirates-to-launch-nfts-and-experiences-in-the-metaverse/ https://tech.eu/2022/04/19/mintbase-mints-in-125-million-to-develop-nft-infrastructure https://www.thefashionlaw.com/nfts-a-new-means-to-monetize-brands/ https://www.financemagnates.com/cryptocurrency/how-would-a-recession-affect-nfts/

Block CEO Jack Dorsey, and former CEO of Twitter, says Ethereum has “**many single points of failure**.” *Unlike Garlinghouse, Dorsey is a bitcoin maximalist. In other words, he doesn’t make nearly as much sense. And he’s not even leader of the tribe. No worries!* Strike CEO agrees that the bitcoin network is **superior to everything else**. *Case closed, I guess.* https://decrypt.co/98160/jack-dorsey-ethereum-many-single-points-failure https://finance.yahoo.com/news/bitcoin-is-superior-to-existing-payment-networks-strike-ceo-says-210903115.html A federal court in New York dismisses class-action lawsuit **against Binance**. On another note, Binance.US is **heading to Puerto Rico**. https://www.jdsupra.com/legalnews/world-s-largest-cryptocurrency-exchange-3590450/ https://forkast.news/headlines/binance-us-wins-license-in-puerto-rico-to-fuel-growth/ The Monero community has confirmed a pending **hard fork** in July. Earlier this week, Monero **surged in value** even as other cryptocurrencies declined. In fact, the privacy coin hit a **5-month high**. https://www.forbesindia.com/article/crypto-made-easy/moneros-july-hard-fork-confirmed-by-its-community/75477/1 https://www.bloombergquint.com/onweb/altcoin-monero-surges-as-owners-set-withdrawal-from-exchanges https://www.investing.com/news/cryptocurrency-news/monero-xmr-hits-5months-high-as-holders-mobilize-bank-run-2805891 Popular metaverse game The Sandbox is looking at a **$400 million fundraise** that will give it a $4 billion valuation. Anyone else looking for opportunities to build in the metaverse have at least **seven different rising options**. https://www.coindesk.com/business/2022/04/19/metaverse-startup-the-sandbox-looks-to-raise-400m-at-4b-valuation-report/ https://www.forbes.com/sites/forbesbusinesscouncil/2022/04/19/seven-opportunities-for-startups-building-the-metaverse/?sh=1d603cf05401 What’s the big deal about **algorithmic stablecoins**? How do they work, and why did Mark Cuban lose so much money on them? *This is an important question considering the* ***third highest ranking stablecoin*** *by market cap is an algorithmic stablecoin.* https://fortune.com/2022/04/19/what-are-algorithmic-stablecoins/ https://cryptocracy.substack.com/p/ust-has-become-the-third-largest?s=w The Secret Service has **seized $102 million** in cryptocurrencies. https://www.cnbc.com/2022/04/19/secret-service-seizes-more-than-102-million-in-crypto-assets.html What you need to know about the **King of the Lunatics**. https://www.yahoo.com/now/king-lunatics-becomes-bitcoin-most-040002343.html *The Big Short* author says cryptocurrencies may soon **come crashing down**. *Of course, real markets are no movie script.* https://coingeek.com/big-short-author-michael-lewis-warns-btc-speculators-it-may-all-come-crashing-down/ Crypto stocks perform **worse than cryptocurrencies**. Of course, it’s all a **“buyer-beware” market**. https://www.wsj.com/articles/crypto-stocks-perform-worse-than-cryptocurrencies-11650338283 https://www.scientificamerican.com/article/cryptocurrencies-and-nfts-are-a-buyer-beware-market/ MetaMask warns iCloud users to **disable backups**. One iCloud user laments how he **lost $650,000 in crypto** in seconds. https://www.techspot.com/news/94258-crypto-wallet-metamask-warns-icloud-users-disable-backups.html https://nypost.com/2022/04/19/how-i-lost-650000-of-crypto-in-seconds/ Canada could be looking at a 10-fold increase in **crypto-trading platforms**. Vancouver-based WonderFi is **buying its second crypto exchange** for $38 million. *What a tear!* https://www.coastreporter.net/highlights/canada-could-see-10-fold-increase-in-registered-crypto-trading-platforms-5276191 https://bitcoinist.com/wonderfi-to-buy-second-canadian/ What is **liquid staking**? https://hackernoon.com/liquid-staking-a-dao-perspective Beanstalk lost $182 million in seconds in **a heist that wasn’t illegal**. *Where’s Jack when you need him?* https://www.tag24.com/topic/money/crypto-heist-cleans-out-182-million-in-seconds-and-wasnt-even-illegal-2419141 The Financial Action Task Force says nearly half of all jurisdictions still aren’t applying **crypto laundering norms**. https://www.coindesk.com/policy/2022/04/19/nearly-half-of-jurisdictions-still-not-applying-crypto-laundering-norms-global-regulator-says/ *Snark and commentary in italics.* 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-tribalism-destroying-crypto?s=w Image credit: Business2Community.com