@cryptocracy 23 February 2022 more from that month

Crypto News: Tether, Ripple, and Ukraine Tether has **reduced its paper holdings** by 21 percent. That accounts for **$6.2 billion**. Marching on, Tether has partnered with the Switzerland city of Lugano to transform it into a **European Bitcoin City**. https://seekingalpha.com/news/3802898-tether-reduces-commercial-paper-holdings-by-21-in-q4-nearly-doubles-t-bill-pile https://www.coindesk.com/business/2022/02/22/tether-slashes-commercial-paper-holdings-by-21/ https://www.newsbtc.com/news/bitcoin/tether-the-swiss-city-of-lugano-promise-europes-btc-capital-is-it-though/ Ripple recently unsealed documents that show the company **sought legal advice** as early as 2012 on whether XRP would be a security. That certainly bolsters their case against the Securities and Exchange Commission (SEC). Meanwhile, a former SEC official says the SEC will lose “**on the merits of the case**.” https://cointelegraph.com/news/former-sec-official-predicts-regulator-will-lose-on-the-merits-of-case-against-ripple Russia has **ordered troops** into two Ukraine regions, declaring them independent states. President Joe Biden has **issued sanctions** against Russia for doing so. More importantly, **crypto prices plunged** immediately after Russian President Vladimir Putin’s chess move. The market **lost $400 billion** in less than a week then **went up again** upon announcement of the Biden sanctions. Bitcoin’s price is up this morning, to **$38,873.67** at 9 a.m. CST. https://www.bbc.com/news/world-europe-60468237 https://abcnews.go.com/Politics/biden-responds-sanctions-putin-recognizes-breakaway-ukraine-regions/story?id=83027213 https://www.cbsnews.com/news/cryptocurrency-bitcoin-ether-russia-ukraine-investors/ https://www.forbes.com/sites/billybambrough/2022/02/22/russia-ukraine-crisis-extreme-fear-sparks-400-billion-crypto-price-crash-as-bitcoin-ethereum-bnb-solana-cardano-and-xrp-fall/?sh=2c5be1c367b2 https://www.coindesk.com/markets/2022/02/22/bitcoin-ticks-up-as-biden-announces-new-russia-sanctions/ https://coinmarketcap.com/currencies/bitcoin/ Yesterday, Cardano rose to 2nd place in terms of transaction volume, with **$17.04 billion**, in a 24-hour period. https://cryptopotato.com/cardano-ada-ranks-second-in-24h-transaction-volume-surpasses-ethereum-and-litecoin/ 7 types of **crypto tax nightmares**. https://www.coindesk.com/layer2/taxweek/2022/02/22/the-7-types-of-crypto-tax-nightmares/ **70+ Web3 terms** you need to know. https://www.thetilt.com/industry-news/web3-term-definitions How community leaders and creators are **using NFTs to collaborate**. https://cointelegraph.com/news/nfts-and-social-capital-how-projects-are-collaborating-to-the-mutual-benefit-of-the-entire-sector Coinbase and Kraken CEOs **get a reprimand** from CoinGeek for talking tough on Canada’s decision to lock crypto accounts. But did Justin Trudeau end **the bitcoin argument**? https://coingeek.com/coinbase-kraken-ceo-tough-talk-holding-back-digital-currency-adoption/ https://seekingalpha.com/article/4489008-trudeau-closed-bitcoin-argument **Avalanche surpassed Solana and TRON** in total value locked in January 2022. https://beincrypto.com/avalanche-surpasses-solana-and-tron-in-tvl-jan-22/ The IRS is **keeping an eye on the NFT space** to figure out how to get their share. https://www.forbes.com/sites/lynnmucenskikeck/2022/02/22/how-the-irs-is-looking-for-its-share-of-cryptocurrency-and-nft-growth/?sh=7db1b6943d1d The Motley Fool predicts the **top 3 cryptocurrencies in 2030**. https://www.fool.com/investing/2022/02/22/the-3-most-valuable-cryptocurrencies-by-2030/ **Is Nvidia's Lite Hash Rate limiter history**? https://www.pcgamer.com/nvidias-rtx-30-series-ethereum-mining-limiter-mightve-just-gone-up-in-smoke/ “Snowflakes Illuminate the Centenary Journey of Winter Games” launches **on the BSV blockchain**. https://coingeek.com/official-nfts-for-snowflakes-illuminate-the-centenary-journey-of-winter-games-launched-on-the-bsv-blockchain/ Cryptocurrency and the **football metaverse** **(comic strip)**. https://www.theguardian.com/football/ng-interactive/2022/feb/22/david-squires-on-cryptocurrency-and-the-football-metaverse Binance founder to **share crypto vision** at Museum of the Future in Dubai. https://www.arabianbusiness.com/industries/banking-finance/binance-founder-to-reveal-crypto-insights-at-dubais-museum-of-the-future How to **stay ahead** of harsh crypto market conditions. https://www.crypto-news-flash.com/crypto-expert-discloses-ways-to-stay-ahead-of-the-harsh-market-condition/ **Correction:** **On Monday** I reported that hackers broke into OpenSea and stole over 250 NFTs. It wasn’t hackers. It was phishers exploiting **The Wyvern Protocol**. https://cryptocracy.substack.com/p/hackers-steal-opensea-nfts?utm_source=url https://www.theverge.com/2022/2/20/22943228/opensea-phishing-hack-smart-contract-bug-stolen-nft Were Online Bulletin Boards a Type of Social Media? A bulletin board system (BBS) was a primitive text-based forum that centered around a specific topic. The systems were popular among topic enthusiasts and allowed members to interact with each other on a two-dimensional screen in the same manner that internet forums currently do. However, unlike Usenet groups, BBSs were centralized. Much like Facebook groups and forums have moderators, a BBS had a system operator, also called SysOp. The SysOp ran the BBS from their home or office with a computer, at least one modem, and a software package that managed the look and feel of the bulletin board and facilitated communication between users. Of course, there was also the community of members who interacted with each other on the system. Graphics, if there were any, were primitive. Because the economics of DSL (digital subscriber line) was prohibitive before the 1990s, BBSs operated on modems. With a limited bitrate, graphics weren’t very practical. Even the GUI-based BBSs of the late 1980s and early 1990s had their graphical limitations. The benefit to these systems is that multiple users could communicate on a common bulletin board-like web interface in a way that wasn’t practical through email. *An excerpt from my forthcoming book* Cryptosocial: How Cryptocurrencies Are Changing Social Media*, to be published by Business Expert Press in March 2022. Want to read it?* ***Join my launch team for more information****.* https://bookhip.com/SDHVCRD 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. Do your own research.* https://cryptocracy.substack.com/p/tether-ripple-and-ukraine-hit-the?utm_source=url **Image credit:** BBC