Uniswap Outruns Ethereum on Fees
Uniswap has surpassed Ethereum in network fees. Harmony was hacked and thieves got away with $100 million in ETH, and Optimism lost 20 million tokens in Interlayer snafu. A new Chainalysis report shows that, despite an increase in Layer 1 blockchains, no one is close to killing Ethereum yet. The news about Uniswap could very well mean we’ve entered the decentralized era. If decentralized exchanges become the most popular exchanges, and there are many reasons to believe they will, then it will prove that decentralization is not just a passing fad. Regarding the murder of Ethereum, a layer 1 blockchain doesn’t need to overtake Ethereum to be a worthwhile project. Killing the leading alt chain should not even be the goal.
Moody’s has downgraded Coinbase, which is launching its first crypto derivatives product. Coinbase users can now send crypto through Polygon and Solana.
Tether to launch stablecoin pegged to British pound.
Axie Infinity users who lost money in March’s $620 million hack will get a reimbursement.
Mark Zuckerberg predicts 1 billion people will join the Meta metaverse. What we need is a metaverse for introverts.
Binance CEO Changpeng Zao says bad crypto projects should not be bailed out. It’s hard to disagree.
World Wide Web inventor Sir Tim Berners-Lee says Web3 doesn’t need a blockchain. Technically, he’s correct. If the goal is to take the Web back to its decentralized roots, the architecture itself need not be blockchain-based. The reason why blockchains enhance the internet is because they deliver something that mere Web technology can’t—currency freedom.
Michael Saylor, head of Microstrategy, the world’s largest crypto holder, wants the government to regulate crypto. This is typically how it happens: People get involved in an industry and they’re against regulation. When they become successful, they want regulation. What changes? They realize, through experience, that scoundrels and scalawags migrate toward opportunities and quite often ruin it for everyone else.
Nexo appoints Citibank to be acquisitions advisor.
A phishing email targeted toward Microsoft 365 users aims to hack MetaMask.
How much does your private crypto information go for on the dark web? Your Kraken verified account, $250. Binance verified account, $260. Xcoins verified account, $320. Bitit.io, $400. Want a Maltese passport? $6,500. See how much it costs to ruin your life. The price for stolen information on the dark web, in many cases, is going down. For instance, it costs $295 less in 2022 than in 2021 for stolen PayPal information for accounts with $1,000 to $3,000 balances. But for stolen information for PayPal accounts with no balance, the price is $1 more this year than last year. This has me curious about the economics of destroying people’s lives.
How the macroeconomy could drive crypto adoption.
One company is launching the first crypto 401(k) over the U.S. Labor Department’s dead body.'
Shapeshift integrates Unstoppable Domains.
Solana Labs is introducing its own Android smartphone. I’m all for blockchain phones, but I’d prefer one that is blockchain agnostic.
Venture capitalist Tim Draper has lost more half a billion dollars in crypto in the last year, but he predicts bitcoin will soar to $250,000 within 18 months.
Gucci joins SuperRareDAO with $25,000 RARE purchase.
What crypto insurance is, and why you need it. Meet some of the companies providing crypto insurance.
What makes a company a Web3 company?
Loop Markets is planning an airdrop on its new blockchain after migration to Juno from Terra. An interview with Co-Founder Tom Norwood reveals more details (though not many).
A Democratic Congressman has introduced a proposal to create the digital dollar. It was bound to happen.
Is crypto devaluation inevitable?
5 ways to earn passive income from NFTs.
9 sustainabile green cryptocurrencies.
Hawaii launches crypto task force.
The Bank of Israel is creating a digital shekel on the Ethereum blockchain.
Snark and commentary are my bread and butter. I put them italics. Nothing in this newsletter should be construed as 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.
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