Ukraine Legalizes Bitcoin and Coinbase Gets Sued
Ukraine has officially legalized bitcoin.
In related news, are you keeping up with the bitcoin runner? He’s traveled to seven countries on foot and has 33 more to go, spending only bitcoin on the way. And if you’re wondering about running a bitcoin node, you’ll want to look at the advantages.
Coinbase is being sued for allegedly selling 79 unregistered securities.
The history of NFTs, unlike any history you’ve ever seen. (You’ve got to check this one out.) In the UK, NFT fraud is growing like lumps on a log. In Venezuela, citizens are overcoming inflation with NFTs. Pepe the Frog’s creator is being sued over a $500,000 NFT featuring an amphibious derrière. And Deefy is showing up just in time to allow platform users the ability to rent and loan NFTs. No wonder NFTs are blowing through the roof. People are doing wild and wacky things over artistic non-fungibles. Kiss me and call me crazy. (Keep reading to see what the Bored Apes Yacht Club creator, Yuga Labs, is up to.)
The world now has 17 known crypto billionaires. Among them are Binance CEO Changpeng Zhao (CZ), FTX Founder and CEO Sam Bankman-Fried, and Coinbase CEO Brian Armstrong. All three of these are leaders of crypto exchanges. I predict that someday the richest man in the world will be a crypto entrepreneur. I find it strange that CZ isn’t on Forbes’ real-time billionaires list while Bankman-Fried is. The FTX leader is ranked 64, listed with $24 billion at 8 a.m. EST this morning. He’s still got a long way to go to surpass Elon Musk, the world’s richest individual, at $245.1 billion. But it could happen sooner than we think.
The latest exploit causes Li Finance to lose $600,000. Meanwhile, crypto scams are skyrocketing.
Total value locked in decentralized finance is above $200 billion again.
If Dogecoin were a hair band, which one would it be? My vote: Twisted Sister because it’s all glam, no substance.
How to avoid crypto development hell.
A parliament member in the Caribbean nation St. Maarten, which shares island space with French-controlled St. Martin, is poised to accept his entire salary in Bitcoin Cash.
Most people, when they describe the history of the metaverse, start with Neal Stephenson’s novel “Snow Crash.” Not Bernard Marr. He goes back to 1838. Yuga Labs, creator of the Bored Apes Yacht Club, is launching a metaverse called Otherside. Expect the launch in April. Metametaverse, a company devoted to metaverse interoperability, has secured $2 million in capital funding. Whoop-tee-freaking-do! Meet the top metaverse influencers to follow on social media.
Decentralizing science through DAOs (a fabulous read!). The Juno DAO, however, voted to revoke more than $3 million worth of tokens of a single whale. Wow! How’s that for some sugar?
As usual, 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.
Image credits: NFTs, NFTClub.com; Koinos Blockchain Framework, Koinos via Cointelegraph; decentralized science, Freethink.com