Every Monday, we cover the latest developments and trends in the dynamic and ever-evolving world of cryptocurrency. From price movements, to industry news, and our favorite resources, we strive to provide our readers with a comprehensive overview of the crypto landscape.
Ndaxers—while the Bitcoin and Crypto markets consolidate, let us explore what else is going on in the weird and wonderful world of ‘web3’.
European Central Bank officials Ulrich Bindseil and Jürgen Schaaf have dismissed the significance of U.S. approval of Bitcoin ETFs, reiterating their stance that Bitcoin's fair value is zero (due to concerns about slow transactions, high costs, environmental impact, and susceptibility to manipulation). They believe BTC's market capitalization is equal only to its potential for social damage upon collapse. This criticism isn't new; they previously declared Bitcoin on the "road to irrelevance" during the crypto winter’s peak-o bottom, a bottom from which Bitcoin has gained around 200%. But despite said gains, they maintain skepticism toward Bitcoin's value. Check out the Twitter replies right here: Decrypt
Never content to sit on their thumbs and do nothing in the face of injustice, the crypto community has taken it upon themselves to challenge our opponents judicially, and politically. Pro-crypto lawyer John Deaton has launched a Senate bid challenging Elizabeth Warren. Despite his past involvement, Deaton isn’t running solely on crypto policy. Meanwhile, a group of crypto interests is taking the fight to the SEC... In Texas—whom we’re told one doesn’t mess with—challenging its authority over digital assets. They are alleging SEC overreach and lack of regulatory clarity, and to this end, invoking the much-vaunted Major Questions Doctrine. ‘Major questions’ is a principle of statutory interpretation applied in US administrative law cases which states that courts will presume that Congress does not delegate to executive agencies issues of major political or economic significance. Deaton Warren Blockworks Crypto SEC Blockworks
Bluesky is a new decentralized Twitter alternative by mega-bitcoin bull Jack Dorsey, which has been gaining traction amid X’s troubles under Musk. It boasts 3M users and offers autonomy, transparent development, and account portability. Sign-up involves creating a profile, customizing feeds, and posting within 300 characters. Unique Bluesky features include customizable feeds, Authentic Transfer (AT) Protocol support for public conversations (where users are identified by domain names) and seamless account migration across social networks. Its goal is to establish a decentralized standard for social media, empowering users. Though its decentralization ensures user data ownership and server-based content moderation, Bluesky's success hinges on attracting users disillusioned with centralized platforms... Which anyone familiar with NOSTR (or regular old “network effects” knows, is no easy feat. For a more in-depth guide, visit: Unchained Crypto
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Disclaimer: This article is not intended to provide investment, legal, accounting, tax, or any other advice and should not be relied on in that or any other regard. The information contained herein is for information purposes only and is not to be construed as an offer or solicitation for the sale or purchase of cryptocurrencies or otherwise.