@cryptocracy 13 June 2022 more from that month

Bitcoin Drops Below $24,000 Bitcoin has fallen **below $24,000**. Does bitcoin have any **intrinsic value**? *There’s a great discussion on intrinsic value going on at that last link. I encourage you to join in.* https://www.cnbc.com/2022/06/13/bitcoin-btc-falls-as-market-focuses-on-celsius-issue-fed-rate-hike.html https://www.publish0x.com/things-of-note-and-other-interesting-stuff/warren-buffett-is-correct-regarding-bitcoin-hear-me-out-xwynwep Celsius **halts all tractions**. *Could there be more to this than a market downturn?* https://www.siliconrepublic.com/business/celsius-network-crypto-withdrawals-transfers-pause-bitcoin-cel The Commodity Futures Trading Commision (CFTC) has a beef with Gemini exchange and is **taking action**. *I figured it was bound to happen after the attention Coinbase received in a* ***class-action lawsuit****.* https://cointelegraph.com/news/the-cftc-s-action-against-gemini-is-bad-news-for-bitcoin-etfs https://cryptocracy.substack.com/p/are-cryptocurrencies-securities-or?s=w Tron DAO buys $60 million in bitcoin and TRX for USDD **stablecoin reserves**. *Will it matter? USDD could end up in the historical slim pit along with UST.* https://www.theblockcrypto.com/linked/151517/tron-dao-buys-50m-of-bitcoin-and-trx-to-add-to-usdd-reserves Blockchain.com is giving users **free NFT domain names**. *This is a partnership with Unstoppable Domains and users will receive a .blockchain domain name. Great promotion. I like Unstoppable Domains.* https://decrypt.co/102499/blockchain-com-gives-users-free-nft-domains-through-unstoppable-domains The staggering **performance of cryptocurrencies** historically. **An incredible read!** https://seekingalpha.com/article/4517981-taking-the-sting-out-of-cryptocurrencies

Seth Green paid $260,000 in ransom to **get his NFT back**. Meanwhile, funny man Jim Carrey is releasing **his first NFT**. Boxing legend Manny Pacquiao is also **punching the NFT time card**. More than 64 percent of people buy NFTs **to profit from them**. Unfortunately, it isn’t profitable for **more than half of them**. *For celebrities, NFTs are another profit center, a revenue stream. For speculators, it’s a risky business.* https://news.yahoo.com/seth-green-pays-260-000-145817620.html https://www.thewrap.com/jim-carrey-nft-artwork-divine-gift-sunshowe/ https://forkast.news/headlines/manny-pacquiao-launching-nfts-dog-pacman/ https://bitcoinist.com/nft-all-about-making-money/ https://cointelegraph.com/news/nft-flipping-not-so-profitable-for-more-than-half-of-buyers-survey Does the metaverse **need any rules**? If you want to learn what they are, you can enter the **metaverse academy**. Upon graduation, you can put a **virtual gate** on your home. https://newseu.cgtn.com/news/2022-06-12/Who-will-regulate-the-metaverse-and-what-rules-will-be-needed--1aKOznl6JHy/index.html https://www.wionews.com/technology/meta-to-open-metaverse-academy-in-collaboration-with-french-digital-training-firm-487461 https://beincrypto.com/stepvr-releases-the-worlds-first-metaverse-gate-for-in-your-home/ It’s time to close the **gender gap in Web3**. https://thedefiant.io/web3-gender-gap-crypto-vc/ **Fractional NFTs** could spark a revolution in Web3. https://medium.datadriveninvestor.com/how-can-fractional-nfts-become-a-revolutionary-revelation-in-the-web-3-0-world-87314a02c9fa STEPN gave users **$100 per mile walked**. https://www.fool.com/investing/2022/06/11/this-fitness-nft-gave-users-100-per-mile-walked/ Kraft Foods has filed for **metaverse and NFT patents**. I’ll have a box of Macaroni & Cheese NFT please. https://cointelegraph.com/news/nifty-news-kraft-foods-files-for-nft-and-metaverse-patents-seth-green-gets-his-ape-back-and-more New York issues **stablecoin guidelines**. https://www.thecoinrepublic.com/2022/06/11/authorities-in-new-york-release-three-key-guidelines-for-stablecoin/ Asia now has its first **social DAO**. https://www.newsbtc.com/press-releases/8dao-asias-first-social-dao-using-social-capital-to-build-a-web3-ecosystem/ **Seizing crypto is still very hard** despite all the government success stories. https://cryptonews.com/exclusives/governments-may-have-had-some-successes-but-seizing-bitcoin-and-crypto-is-still-very-hard.htm *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/bitcoin-slam-dunked-itself-while?s=w Image credit: Seeking Alpha