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Welcome to the March 4th, 2022, edition of the Decentral Weekly Crypto News Wrap-Up, where Neil and Em tackle the always-relevant question: “Is this a thing?”

This week’s crypto news wrap-up includes Ukraine raising millions of dollars in cryptocurrency, NYC’s NFT vending machine, some closure to the infamous Bitconnect scandal, and more.

Ukraine raises over $50 million in cryptocurrency

The world’s news headlines are dominated by Russia’s invasion of Ukraine, but cryptocurrency has emerged as a relevant talking point. The country has managed to raise over $50 million in cryptocurrency and has even kept wallet addresses in a pinned tweet on their official Twitter account. There’s more: UkraineDAO has also raised millions of dollars in support of the Ukrainian army.

The situation is also a bit interesting given the fact that Ukraine now wants to weaponize cryptocurrency by also asking crypto exchanges to block Russian users. Several exchanges have chosen to refuse.

What are your thoughts on how crypto is playing a role in the Russia-Ukraine conflict?

Neil says:

I think crypto is really proving its power when it comes to raising money for Ukraine, and I also think it was smart for crypto exchanges to refuse to block Russian users. Times like now prove that cryptocurrency is useful. Overall, I think a lot of cryptocurrency critics should recognize how it’s helping Ukraine here.

Em says:

In a war, everyone will use every tool they have. At the end of the day, crypto is just a tool. Whoever uses it best will win. It’s also true that this economic, social, technological, and international upheaval we’re experiencing is what crypto was created for. Hold on, everyone.

Bottom line:

Neil thinks it’s a “crypto proving its power” thing, Em thinks it’s a “crypto is a tool” thing.

Who do you agree with?

The world’s first NFT vending machine is here

The world is still crazy about NFTs, but it looks like it might get a bit easier to buy them if you live in the Big Apple. The world’s first NFT vending machine has arrived in Manhattan’s Financial District. The machine is open for 24 hours a day and allows customers to purchase Solana-based NFTs.

Neon, a Solana-based NFT marketplace, is behind the machine, and the CEO claims he’s trying to help people understand they don’t need cryptocurrency to buy NFTs. The machine accepts both debit cards and credit cards.

NFT vending machines: Is this something that will catch on, or is this really just about novelty?

Neil says:

I’m not really a fan of this one. I don’t think it’ll catch on, and I think the entire concept is a bit ridiculous. In the Guardian story where a reporter actually visits the machine, multiple things go wrong. This is just one of those ideas that isn’t really going to pan out right now.

Em says:

Maybe this idea is kind of silly and counter to the most philosophical and “pure” uses of crypto — according to the enthusiasts. But also… we know giant-claw-plushie-toy vending machines are also a complete scam, but we like them anyway. Maybe there’s a place for NFT vending machines at Dave & Buster’s! 😛

Bottom line:

Neil thinks this isn’t a thing, Em thinks it could be a thing.

Who do you agree with?

Bitconnect founder finally charged

If you’ve followed cryptocurrency for several years, you probably know Bitconnect was one of the biggest crypto scandals in recent history. The saga is finally coming to a close, with Bitconnect’s founder, Satish Khumbani, indicted by a federal grand jury for the $2.6 billion crypto scheme. He was charged in San Diego, but reportedly still remains at large.

Bitconnect operated as a Ponzi scheme, where money from newer investors was used to pay back earlier investors. This was marketed through a “lending program” that didn’t exist. Bitconnect went defunct in 2018.

Any thoughts on the Bitconnect scandal finally coming to a final conclusion? Do you think they will find Kumbhani soon, or not?

Neil says:

This whole fiasco was a huge deal in 2017 and 2018, and it’s a bit insane it took this long for Kumbhani to be charged. It’s even crazier that he has now apparently disappeared. Something tells me they might find him eventually, but it’s all a bit embarrassing.

Em says:

This dude kinda had is coming, and if he gets nailed, he gets nailed. Maybe it’s bad publicity for crypto, but at the same time, this kind of stuff happens in every new market. It happens in every old and established market too, tbh; it’s just hidden better by the big, influential players. *cough* the fed *cough*

Bottom line:

Neil thinks this is a bad thing, Em thinks it’s a “scammers are in every market” thing.

What do you think?

Bank of America denies “crypto winter”

Many people suggested that the cryptocurrency sector has fallen victim to a “crypto winter,” likely referring to the fact that both Bitcoin and Ethereum have fallen significantly from their all-time highs. Bank of America recently released a note suggesting that the idea of a “crypto winter” is exaggerated.

The note stated that user adoption and developmental growth means that “crypto winter” isn’t likely. The note was titled “”Digital Assets: In The Flow.” However, it also acknowledged that crypto upside would likely be limited thanks to “Federal Reserve and macroeconomic headwinds.”

What do you think of Bank of America’s note and/or their agenda behind the note?

Neil says:

Bank of America has been releasing some pro-crypto reports, but it is still a bit strange to see one of America’s biggest banks declaring that a “crypto winter” might not exist. Is Bank of America trying to embrace crypto more than the competition strategically, or is this just one random note? I’m not sure, but I wouldn’t take this too seriously.

Em says:

This does seem, on the surface, like it’s counter to BofA’s interests as a legacy finance institution. I can only conclude that it’s a PR play of some kind, or they’re actually resigned to the idea that crypto isn’t going away. Either way, I think it’s positive narrative hype for the crypto market in the short term, and I can’t complain about that.

Bottom line:

Neil doesn’t think this is a thing, Em thinks it’s a narrative thing regardless.

Who’s side are you on?

EU postpones crypto regulations vote

The European Parliament was expected to vote on crypto regulations on February 28, but that didn’t happen. Instead, the vote was canceled. Stefan Berger, the “rapporteur” (parliament member in charge), clarified that he didn’t want the framework to be misinterpreted. The vote has been postponed indefinitely.

What’s the reason for the sudden change? It might be that the draft included a provision hinting that lawmakers were hoping to ban proof-of-work cryptocurrencies starting January 2025. Both Bitcoin and Ethereum, the two largest cryptocurrencies in the world, rely on proof-of-work.

Is this postponement a good thing, or a bad thing? Any additional thoughts on cryptocurrency regulation in general?

Neil says:

Yeah, I have no idea why they even thought this would be feasible. I do think that there should be more concrete steps towards regulation, and it’s a bit surreal to see delay after delay. In this case, however, a postponement was a good thing.

Em says:

Listen. Regulators still don’t understand crypto. They have a long way to go before they do, so I’m glad this got the brakes before it was voted on. Governments are still trying to figure out what to do with crypto and how it can be regulated, but my view is that the longer they’re on the fence, the better for crypto.

Bottom line:

Both Neil and Em agree that the postponement was a good thing.

We have a consensus! Do you agree?

Bad idea of the week: BuyTheBroncos, hold your horses

Our crypto news wrap-up always ends with a bad idea, but this particular idea is more unrealistic than “bad.” I’m referring to the fact that there is now a DAO – the BuyTheBroncos DAO – that wants to buy the Denver Broncos.

Many have pointed out that DAOs can revolutionize crowdfunding. There’s a lot of potential here, but it’s not the time to try to raise billions of dollars to buy a sports team. There’s also no way the Denver Broncos would even allow themselves to be “governed” by a DAO.

Look – DAOs can raise millions of dollars. Just last week, we discussed Julian Assange raising millions of dollars thanks to his DAO. There’s also a massive difference between raising millions of dollars and raising BILLIONS of dollars.

What are your thoughts on BuyTheBroncos?

Neil says:

BuyTheBroncos wants to raise $4 billion, and there’s just no way I see this happening. At this point, there’s no real reason for this to happen. There’s a lot of well-deserved interest in DAOs, but this particular goal is not the move. How would a DAO govern a sports team? What about NFL ownership laws? It’s not realistic.

Em says:

It’s definitely ambitious, I’ll give them that. Buying the Broncos is a moonshot if I ever saw one. But at the same time, I’ve also written about how buying a sports team could play out in concept for DAOs. Even if they’re a bit premature to the game, it may be possible in the future. If it ever does happen, just know I told you so. 😀

Bottom line:

Neil thinks it’s an impossible thing, Em thinks it’s a possible thing.

What do you think?

Meme of the week

As always, Em brings you the meme of the week:

And that’s our crypto news wrap-up!

Would you ever buy an NFT from a vending machine? The Bitconnect founder might be charged, but when will he be found? How much will crypto play a role in the Russia/Ukraine conflict?

Make sure to tweet us your thoughts/opinions/perspectives at @decentralpub with the hashtag #weeklycryptonews on Twitter.

Welcome to the February 25th, 2022, edition of the Decentral Weekly Crypto News Wrap-Up, where Neil and Em examine cryptocurrency news headlines and ask, yet again: “Is this a thing?”

This week’s crypto news wrap-up has stories featuring JP Morgan, Snoop Dogg, Salesforce, and Julian Assange – so it’s safe to say that there’s something for everyone. Let’s get right into the biggest cryptocurrency news items of the week.

JP Morgan steps into the metaverse

It looks like a major bank has just stepped into the metaverse. JPMorgan Chase, the largest bank in America, just opened a lounge in Decentraland. The lounge is named Onyx, a nod to the bank’s blockchain-based platform.

There’s even a portrait of Jamie Dimon in the lounge. Dimon has been the CEO of JPMorgan Chase since 2005 and has also criticized cryptocurrencies in the past, claiming they “have no intrinsic value.” This isn’t that surprising considering the bank has been vocal about the immense potential of the metaverse.

If you had to guess, do you think major banks will follow JP Morgan into the metaverse?

Neil says:

No, I don’t. I think a lot of banks are bullish on the metaverse, but I still feel like it’s a bit early. I feel like metaverse early adopters will lean toward the creative side: artists, gaming developers, and fashion brands. I think banks still have time, and JP Morgan might be first, but it won’t force anyone else’s hand.

Em says:

Which came first, the chicken or the egg: companies sinking money to make the metaverse happen? Or the metaverse happening so companies sink money? Either way, it seems like the metaverse is happening. Whether it’s today or tomorrow, I think the other banks will all have to jump in if they don’t want to miss out.

Bottom line:

Neil thinks this isn’t a thing, Em disagrees.

Who do you agree with?

Snoop Dogg creating first metaverse record label

Many rap fans were excited to hear Snoop Dogg had acquired Death Row Records. For those who don’t know, Death Row Records is a legendary hip-hop label that helped launch the careers of artists like Dr. Dre, Snoop Dogg, and 2Pac.

It looks like Snoop Dogg wants to turn the record label into an “NFT label” and hopes to be the first major record label in the metaverse. Snoop Dogg isn’t a stranger to the space, and he might end up raising over $125 million with his latest NFT collection. This was made possible thanks to a partnership with Gala Games, a blockchain gaming platform.

What do you think about the Death Row rebrand? Can a metaverse record label be successful right now?

Neil says:

Look – if anyone is staking their claim in the metaverse early, it’s Snoop Dogg. Salute to him and his success, but I think it’s a bit early for music acts to be “broken in” in the metaverse. The metaverse has to become more popular for this to really work, and NFTs are easier to market with established artists, not rookies.

Em says:

I hope people in the metaverse like Snoop cause it seems like he’s angling to be king of the whole place. As far as the record label goes, if it’s a successful one, I don’t think it matters how they run it — the music is what’s important, the tech is just a vehicle.

Bottom line:

Neil thinks it’s a “too early” thing, Em thinks it’s a “bigger picture” thing.

Who do you agree with?

Salesforce employees protesting NFT plans

Salesforce is planning on exploring NFT initiatives, and a lot of employees are upset about it. Hundreds of employees signed a letter protesting the move, citing environmental and economic concerns.

Employees also cited the rise of NFT scams as another reason to protest the move. Salesforce plans to create an “NFT Cloud” where users can create NFTs and list them on NFT marketplaces. Salesforce claims it will be holding a “listening session” to hear about employee concerns.

Do you really think that hundreds of employees will walk away from Salesforce jobs over NFTs, or is this just more about taking a “moral” stance?

Neil says:

I think there are many people who hate NFTs and say so all over social media, but I sincerely doubt whether all these people are walking away from their jobs. I don’t see Salesforce caving here, but employees are certainly allowed to express themselves. It’s one thing to have an opinion, and another to walk away from a job position.

Em says:

I’m not really too surprised by this because its product is largely used by nonprofits with some kind of cause. It would make sense that its employees would be willing to herald a cause as well. And honestly, these days it seems like upward pressure from a small but vocal group often works. We’ll see if it does and the company changes its tune.

Bottom line:

Neil thinks the protest is a “it will blow over” thing, Em it’s a “we’ll see” thing.

What do you think?

The DAO to free Julian Assange

Julian Assange remains one of the most controversial figures in the world, with some people believing he’s a hero and some arguing he’s a traitor. Assange is the founder of Wikileaks, an international nonprofit focusing on news leaks and offering otherwise classified information to the masses.

Assange is currently working to appeal his extradition to the United States. The AssangeDAO has now raised $53 million in Ethereum in support of Assange, which is more than the amount raised by the ConstitutionDAO several months ago. The funds were raised thanks to an NFT auction for an NFT collection called Censored, created by Assange in collaboration with digital artist Pak.

Do you think crypto has the power to help Assange fight his legal battles? If so, would that be a huge victory against critics who claim “Web 3.0” is a marketing scam?

Neil says:

I think that these DAOs to help people with legal battles are definitely interesting, and we know Ross Ulbricht also has a DAO. If the world could see that crypto can help someone as well-known as Assange, then yes, I think that would be a pretty big move to show DAOs do have value, whether you like Assange or not.

Em says:

It’s apropos that the new way of crowdfunding through DAOs would be harnessed for Assange. Back in the Wikileaks days, crypto was how Assange was able to keep it funded, and now things are coming full circle. I think this is the type of thing crypto is perfect for and should be used for.

Bottom line:

Neil thinks this can be a validation thing, Em thinks it’s a “full circle” thing.

Who’s side are you on?

Colorado accepting Bitcoin for state taxes

There is still a lot of debate about crypto regulation in the United States, but it looks like Colorado is proving to be a bit more crypto-friendly than most states. The state will soon accept Bitcoin and other cryptocurrency for state-related tax payments.

In a CNBC interview, Colorado governor Jared Polis said he expects Colorado will begin accepting crypto “by the summer.” The state hopes for additional innovations, such as accepting Bitcoin for other state-related payments. Polis was clear that Colorado would immediately convert the crypto into dollars to maintain current accounting standards.

Is this a major move, or is this just more of a symbolic move as we wait for more concrete legislation? Should more states be doing this, or should crypto enthusiasts care more about the bigger picture first?

Neil says:

There are a couple of states out there with pro-crypto legislation, but it doesn’t look like these local initiatives are really working out (check out our “bad idea” of the week). I think paying taxes in BTC is a big step for a state, but it’s not really that significant or historical. We need clear federal legislation that offers regulation but supports innovation.

Em says:

Is it just me or does it seem highly ironic to use crypto to pay taxes? Considering the purpose of crypto in the first place — to exit the central bank and fiat game — the fact that we now want to use it to bow before the central bank is horrifying and hilarious at the same time.

Bottom line:

Neil thinks it’s not a thing, Em thinks it’s an ironic thing.

Who’s side are you on?

Bad idea of the week: Miami’s cryptocurrency proves to be mediocre

In a previous crypto news-wrap up, we debated about Francis Suarez and his plans to launch a Miami-focused cryptocurrency. Now it looks like the MiamiCoin has been losing steam. In fact, it recently reached an all-time low.

MiamiCoin has lost over 90% of its value since its debut, so it’s extremely hard to declare it as anything other than a complete failure. In a Fox Business interview, Suarez tried to frame the coin as a success since it has “generated $20 million in revenue” for Miami. Suarez claims $5 million will be used for rent stabilization funds.

He says he “never obsessed over the price” and pointed out there are still “use cases to be utilized” with respect to MiamiCoin.

Okay, it’s been several months, and the price is at an all-time low. Is it time to admit MiamiCoin is now bad PR for crypto, instead of the good PR many believed it would be?

Neil says:

Yeah, this is pretty much a complete failure. You’re the mayor: you have all the business and government partnerships to help make this a success. If you aren’t showing the value of MiamiCoin, it’s going to just eventually be worth nothing. It is definitely a “bad PR” thing at this point.

Em says:

We know crypto is volatile and most of crypto is down right now, so this is not much of a surprise. If you’re gonna be the first on something like this, go all in. That does seem to be what Suarez is doing. But it’s still quite funny to watch government endeavors go so classically as they always do.

Bottom line:

Neil thinks it’s a failure thing, Em thinks it’s a government thing.

What do you think?

Meme of the week

As always, Em brings you this beloved meme of the week:

And that’s our crypto news wrap-up!

Will JP Morgan still charge overdraft fees in the metaverse? Who will be the first rapper to sign a metaverse record deal, and will Salesforce cave under the pressure or stick to their NFT plans?

Make sure to tweet us your thoughts/opinions/perspectives at @decentralpub with the hashtag #weeklycryptonews on Twitter.

See you in March!!!

Welcome to the February 18th, 2022, edition of the Decentral Weekly Crypto News Wrap-Up, where Neil and Em explore cryptocurrency news headlines and work diligently to answer one important question: “Is this a thing?”

Should we go ahead and call this the Super Bowl crypto news wrap-up? Crypto was front and center in the past week. This week’s crypto news headlines include: Coinbase’s unconventional ad, Larry David joining forces with FTX, crypto romance scams, and more.

Coinbase and the unconventional QR code ad

Coinbase remains one of the biggest and most influential companies in the cryptocurrency space, so it’s only right they had their own Super Bowl ad. Instead of nabbing an A-list actor to help them reach the masses, they did something else entirely.

The Super Bowl ad was a QR code floating around on a black screen for 60 seconds. Was this a screensaver or a commercial? While many on social media thought the ad was confusing, it was successful. The Coinbase app crashed because of the ad’s popularity, and Coinbase stock is reacting favorably. The issues only lasted for several minutes.

Was this ad a runaway success, and do the numbers speak for themselves? Should the community be paying attention to criticisms about oversaturation?

Neil says:

Yeah, this was genius. Coinbase got about 20 million hits in a minute, and it wasn’t the kind of commercial that tries to get you to embrace crypto. If you want to scan the QR code, you can. They could have hired a movie star and spent (more) millions on production, but they went the unconventional route and it was incredibly successful. I can only salute it.

Em says:

Haha, well, divisive things get people’s attention. From a marketing perspective, I think it was a good play. But it’s worth pointing out that I detest QR codes and would not have scanned it out of pure spite! When I go to restaurants and I have to scan a thing to get the menu, I’m physically enraged… but that’s just me. 😀

Bottom line:

Neil thinks this was a genius thing, Em is less impressed.

Who do you agree with?

Larry David stars in an FTX commercial

FTX continues to be a cryptocurrency exchange that knows how to skyrocket to the top, and we discussed their expansion into Asia last week. Now, FTX is making headlines because its Super Bowl commercial featured Larry David, a comedy legend who had never appeared in a commercial before.

David is known for the contrarian character he plays on Curb Your Enthusiasm, a fictional series inspired by his real life. In the commercial, David plays a time-traveling skeptic who doesn’t seem to ever believe in some of the most powerful discoveries in human history. The commercial ends with him remaining skeptical about cryptocurrency.

What did you think of the Larry David commercial?

Neil says:

Yeah… I should put a disclaimer that I’m a pretty big Larry David fan. He’s famous for playing a contrarian skeptic, and it worked really well here. The fact that FTX got Larry David to do his first commercial… and he’s talking positively about the experience… definitely a win for FTX.

Em says:

I loved it. It perfectly fit Larry David’s persona, and it was very funny. Good build up, good punchline, great marketing. I can see why it irked people if they don’t like Larry or don’t like crypto but whatever, I thought it was hilarious.

Bottom line:

Neil thinks Larry can do no wrong, Em thinks it was well-executed.

Who do you agree with?

Binance invests in Forbes

When you think about cryptocurrency, you might think about the future: a world where life is a bit more decentralized, and there are less intermediaries with respect to your finances, identity, and even real estate. You probably aren’t thinking about legacy media at all.

Well, it looks like Binance is certainly interested in media, because it’s making a $200 million strategic investment in Forbes. Forbes is also planning its own SPAC, and many believe that this is part of Binance’s bigger initiative for Web 3.0 content generation.

Is this a smart move, or is this the kind of investment that should be met with more scrutiny? Is Forbes going to lean more pro-crypto now?

Neil says:

I could see how this would be criticized, but I mean… Bezos owns the Washington Post. If we are being honest, a lot of Forbes articles are pro-crypto regardless. I think it’s a smart move on Binance’s part, and it’s a bit amusing when you consider that Binance wanted to sue Forbes at one point. Either way – if Binance has a major scandal, I guess no one should expect Forbes to remain neutral.

Em says:

I think this story is also hilarious. The fact that legacy media pretends to be objective but can literally be bought — and that’s exactly what Binance is doing — is so full of irony that it puts a giant smile on my face. These are the things crypto companies should be doing.

Bottom line:

Neil thinks this is a standard thing, Em thinks it’s an ironic thing.

Who do you agree with?

The infamous crypto laundering couple

It’s a good thing that the Super Bowl happened when it did because most cryptocurrency headlines were talking about an interesting couple. Heather Morgan and Ilya Lichtenstein were arrested for laundering money from the infamous Bitfinex hack.

Ok – so a couple of people were arrested for being shady. What’s the big deal? Well, the couple was able to launder a staggering $4.5 billion dollars worth of Bitcoin. It’s now officially the largest financial seizure in the history of the Department of Justice.

Morgan was also a rapper, and many of her music videos were shared on social media after news of the arrest broke. Morgan performed under the moniker “Razzlekhan.” Netflix announced a new series involving the Bitfinex hack.

Is this bad PR for crypto, or is this more about the fact that crypto will always be home to people trying to game the system? There are strange details about the story that make it interesting, but will it fade out over time?

Neil says:

This was a massive story on social media, but it already looks like the story has faded away thanks to the Super Bowl ads. It’s pretty fascinating, and I can see why Netflix swooped in. I mean, check out some of Razzlekhan’s rap videos. Is this a major scandal? Eh. I think people will forget about it completely by next month.

Em says:

Oof. This is rough. Of course, we know that crime happens and criminals still exist. If crypto exists, bad guys will try to take advantage. But I think that’s unavoidable. Skeptics of crypto are going to be skeptical and the people who like it still like it … and the criminals still do crime.

Bottom line:

Both Neil and Em agree this is a “crime” thing, not a crypto thing.

We have a consensus! Do you agree?

Russia backs off a crypto ban

Russia hasn’t exactly embraced cryptocurrency, even recently suggesting that it would ban crypto in general. It looks like the country is deciding to regulate crypto instead of ban it, a move that is sure to be applauded by crypto investors and enthusiasts. The regulations are likely to take effect in either late 2022 or early 2023.

Policymakers are expected to introduce new legislation to help oversee crypto as a currency. This move is also significant because Russia is home to around 11% of all Bitcoin mining operations. India recently changed its tune regarding crypto, after once threatening to ban cryptocurrency altogether. Transactions over 600,000 rubles (around $8,000 USD) will have to be declared.

Regulation is obviously better than a ban. Do you think this helps force the hand of the United States and other countries, as in “If Russia can start regulating, you can, too”?

Neil says:

Yeah, I think the fact that countries like India and Russia are backing down from crypto bans kind of says it all. I do think that when other major countries are figuring out what to do, the United States is pressured to take more initiative and offer some concrete regulation.

Em says:

Yes, we expect this kind of stuff out of Russia. And there could be a whole debate about what countries are doing the best/worst or are slowest/fastest adapting to and regulating crypto. But honestly, there are bigger fish to fry. The Ukraine situation is much more worrying than whether an authoritarian government is trying to regulate your BTC.

Bottom line:

Neil thinks this is a thing, Em thinks there are bigger fish to fry.

Who’s side are you on?

Bad idea of the week: Watch out for romance scams

Loneliness can be tough to deal with, but it’s better than losing all your money. Romance scammers in particular are turning to crypto, making off with about $139 million last year.

The number of romance-related frauds that were reported to the FTC rose around 70% in 2021.

In other words, criminals are relying on romance-related scams more than ever before. A recent documentary on Netflix, Tinder Swindler, detailed the adventures of Shimon Hayut, a conman who duped several women into sending him money after meeting them on Tinder.

The scammers will feign love interest in individuals but eventually ask for money. Their method varies, with some scammers claiming they need money for an emergency. Other cybercriminals claim to be financial experts who can help victims invest in the crypto markets.

If you take anything away from this crypto news-wrap up: don’t send crypto to the person you’re talking to over the Internet, and take some real steps towards protecting your crypto holdings!

Stay away from anyone on dating apps asking you for money. Is this a bad look for crypto in general – or is this more about the fact that people are lonelier during the pandemic?

Neil says:

Romance scams have existed for centuries. The fact that crypto is involved makes sense – there’s more privacy than saying “Hey, send that money to this bank account.” I think scammers are always trying to find some kind of angle, and it’s easy to see how romance scams would become more popular during a pandemic where more people feel lonely. It’s that simple – it’s more about loneliness than crypto.

Em says:

I know everyone just wants to be loved. But please, for the love of God, learn to recognize scams. The internet is a wonderful and dangerous place. Maybe just get back in church and meet someone that way if it’ll save you from a romance scammmm :’(

Bottom line:

Neil thinks romance scams have always been around, Em thinks you should go back to church and find someone more wholesome (and less scammy!).

What do you think?

Meme of the week

As always, Em brings you this beloved meme of the week:

And that’s our crypto news wrap-up!

What was your favorite Super Bowl crypto ad, or did you find any of them a bit cringe? Are you thinking about setting up an NFT portfolio now that the markets are looking a bit better? No matter how lonely your Valentine’s Day was – don’t send your Bitcoin to someone you never met, even if they text you back quickly.

Make sure to tweet us your thoughts/opinions/perspectives at @decentralpub with the hashtag #weeklycryptonews on Twitter.

Welcome to the February 11th, 2022, edition of the Decentral Weekly Crypto News Wrap-Up, where Neil and Em examine the latest cryptocurrency news headlines and address the ever-relevant question: “Is this a thing?”

Bitcoin is back over $40,000, which means you may just be able to buy your Valentine one of many romantic crypto-related gifts. This week’s crypto news headlines include: Gensler wants exchanges to come to the table, the Super Bowl is selling NFTs, and job opportunities in the metaverse.

Gensler wants some cooperation

We pointed out last week that Biden was attempting to regulate Bitcoin, and that he was framing it as a national security matter. It looks like SEC Chairman Gary Gensler wants more crypto platforms to voluntarily work with the SEC to help define regulations.

Gensler isn’t exactly the cryptocurrency industry’s friend right now, so the olive branch may be a bit late. Countless crypto experts and insiders assumed Gensler would take a crypto-friendly approach to regulation since the former MIT professor has taught classes on blockchain technology in the past.

Gensler also admitted that some coins can qualify as commodity tokens, and that the SEC would work with the Commodity Futures Trading Commission to regulate those particular coins.

Should crypto exchanges consider this approach, or is it just too late to take Gensler at his word?

Neil says:

I wouldn’t trust Gensler. He’s made it clear he wants to protect investors, but it’s not like crypto exchanges will get anything out of actually meeting with the SEC. Gensler has made it clear that he wants to be the villain here, so why would anyone suddenly latch on to this olive branch?

Em says:

Everything that happens in the bureaucracy is a power play. If they can get the upper hand in controlling market players, they will. The whole point of crypto was to step outside of government control — now it’s just a battle to see who will win.

Bottom line:

Neil thinks this is a “don’t trust Gensler” thing; Em thinks it’s a power play thing.

Who do you agree with?

FTX enters Japanese markets with Liquid acquisition

It seems like every week, FTX seems to make the news. The crypto exchange made last week’s cryptocurrency headlines with its $32 billion valuation, and now it looks like FTX is aggressively pursuing Asian markets.

FTX has acquired the Japanese crypto exchange Liquid for an undisclosed sum. The acquisition is expected to close by March 2022, and Sam Bankman-Fried has been previously open in interviews about his international ambitions for FTX. The crypto billionaire has also previously stated he doesn’t believe we’re in a “crypto winter,” but that markets in general were “moving” more than usual.

FTX plans on more acquisitions, and its rise has already been meteoric. At what point should we be concerned about decentralization?

Neil says:

Yeah, I’m not going to lie – there’s something a bit disturbing about this. FTX is already massive, and they’re purchasing other large crypto exchanges. How does this not lead to more centralization? Some platforms will be more successful than others, but centralization should be a concern.

Em says:

The way companies and large endeavors are structured dictates that, as they grow and become successful, they’ll become more centralized. Only a conceptual shift can change that, and DAOs are trying to do it. Maybe with DAOs, even big companies like FTX can decentralize some day.

Bottom line:

Neil thinks this is a “stay wary” thing; Em thinks it’s a “maybe DAOs can help” thing.

Who do you agree with?

Will Florida be home to the first NFT purchase?

One of the most interesting things about blockchain technology is that it allows for tokenization. Any individual can tokenize their assets and sell them as a digital asset rather than a physical asset. It looks like a Gulfport home may just be the first home to sell as an NFT in the United States.

The house is located in Tampa Bay. The realty group is claiming that ownership of the home will be transferred in the form of an LLC, and that ownership will be transferred with the NFT. The owner hopes to “stimulate conversation” regarding real estate and blockchain technology.

The auction will be hosted by Propy, a blockchain proptech startup that was previously involved in the world’s first-ever NFT real estate transaction. The starting price is $650,000. The sale will also include a mural by a local Florida artist. Around 1,500 bidders have already lined up.

If this sale is successful, will we see a lot more U.S. homes sold as NFTs? Or is this really just a novelty thing?

Neil says:

This is one that might take a while to catch on. I think blockchain can absolutely disrupt real estate, but we also have to consider that the real estate sector has done things a certain way for a long time. Even the fact that it took THIS long for a home to be sold as an NFT in the U.S. kind of proves that. I think, for now, this will remain a novelty.

Em says:

Tokenized real estate is something people have been talking about since early NFT days. Everyone saw the possibility and the ideas of it, but the execution is only now starting to come to fruition. Hopefully, this won’t be the last time, but the beginning of the idea playing out in reality.

Bottom line:

Neil thinks it’s a novelty thing; Em thinks it’s a “just the beginning” thing.

What do you think?

The metaverse hiring spree continues

The “metaverse” buzzword gained a lot of traction in 2021, thanks especially to Facebook’s rebrand to Meta. It hasn’t exactly done wonders for Meta stock, which recently suffered its biggest one-day stock drop ever.

However, it doesn’t seem to be stopping many companies from actively hiring for the metaverse. In just the past two weeks, Nike posted five metaverse-related job positions. Disney is also recruiting for a metaverse-related business development manager position.

The hiring spree isn’t just limited to entertainment companies: fashion companies and athletic leagues and organizations are also hiring for similar positions. There are recent reports that Roblox will pay somewhere around $430,000 a year for metaverse-related positions.

Even with Meta’s recent fiasco, will we see a continued hiring spree for metaverse job positions?

Neil says:

I completely understand why people are skeptical about the metaverse, or think it’s dystopian. But it’s ridiculous to blame the metaverse for what happened with Meta. Facebook’s reputation has been terrible for a long time. The hiring spree won’t stop, and Meta is far from the only company pursuing the metaverse.

Em says:

The metaverse is going to happen. It doesn’t matter what people or the market want. When you have huge players like Meta and Disney sinking billions into it, the consumers will get on board. It just depends on whether it’s the “metaverse” that we envisioned or just another plutocracy.

Bottom line:

Neil thinks it’s a “the metaverse is bigger than Meta” thing; Em thinks it’s a “money talks” thing.

Who do you agree with?

Super Bowl NFTs are here

We know crypto companies have created Super Bowl commercials to help reach the masses, but it looks like the Super Bowl itself is interested in NFTs. This year, Super Bowl attendees will receive virtual commemorative tickets in the form of NFTs. The championship game remains one of the biggest television events in the world. Some are now referring to the Super Bowl as “The Crypto Bowl.”

This isn’t a massive surprise, considering the NFL has previously issued commemorative tickets as NFTs. Super Bowl LVI will take place in Los Angeles on February 13, 2022, between the Los Angeles Rams and the Cincinnati Bengals.

If you had to guess, what do you think these Super Bowl NFTs will be worth by this time next year?

Neil says:

Well, it doesn’t get more mainstream than the Super Bowl. I’m going to assume it will be worth more this time next year – maybe several thousand dollars each. Let’s say $3,000 each.

Em says:

I like tokenization and NFTs. Do I like Super Bowl or sports NFTs? Personally, no. Do I think, despite my salty opinions on sports, they may have value in the future… um, no. Ok, so I’m not unbiased but only time will tell.

Bottom line:

Neil thinks this is a thing; Em disagrees.

Who’s side are you on?

Bad idea of the week: Don’t drug your father

We cover unfortunate stories in the “bad idea” section, but this one is particularly horrendous. Imagine this scenario: a 24 year-old offers a cup of tea to his father. Heartwarming, right?

In this case, no. Liam Ghershony told his father he was adding an “energy boost” in the form of a white powder to the tea – but it was benzodiazepine that he added. Benzodiazepine is a form of depressant, and Ghershony purposely added it to the tea to knock him out. Why?

Well, naturally, he wanted to steal his father’s cryptocurrency. He moved $400,000 from his father’s account into an account he could control. He claims now that he did not realize the amount of benzodiazepine he had added to the tea was lethal. He claims he believed his father would wake up. He was also struggling with drug abuse at the time.

Officers eventually found Ghershony’s father on the floor, where he was unresponsive. The father spent four days recovering at the hospital. Liam Ghershony was originally charged with attempted murder, but pled guilty to felony assault. Thanks to his parents’ wishes, Liam only spent 125 days in jail and also underwent two months of residential drug and mental health treatment.

There’s nothing much to say here: don’t drug your dad and try to steal his cryptocurrency.

Neil says:

Wow. Yeah, this story is pretty astonishing… I understand we are changing the way we think about drug addiction, but the fact that he didn’t go to jail for a long time is kind of crazy to me. Just a depressing situation, all around.

Em says:

Yikes!!! People will get up to some crazy hijinks and this is definitely an example of that. I can’t imagine a scenario where that would be worth it, even if you succeeded. Everyone please protect your keys and get a poison taster.

What do you think?

Meme of the week

As always, Em brings you this beloved meme of the week:

And that’s our cryptocurrency weekly wrap-up!

Who are you rooting for in the Super Bowl, or are you more looking forward to Valentine’s Day? Do you feel like the markets are finally rebounding out of crypto winter now that Bitcoin is back over $40K?

Make sure to tweet us your thoughts/opinions/perspectives at @decentralpub with the hashtag #weeklycryptonews on Twitter.

Welcome to the February 4, 2022 edition of the Decentral Weekly Crypto News Wrap-Up, where Neil and Em take on the latest cryptocurrency news headlines and answer the always-important question: “Is this a thing?”

It’s almost Valentine’s Day, which should warm your heart, but the financial markets are still ice cold. Hopefully you’re spending more time researching if you’re spending less time trading (we certainly don’t blame you!) This week’s crypto news headlines include: Biden pushing for more crypto regulation, a DAO wanting to start a fast food franchise, India planning on taxing crypto at 30%, and more.

Biden wants crypto regulation

The Biden administration is more interested than ever in cryptocurrency regulation, especially given recent volatility in the crypto markets. The word is that Biden wants to sign an executive order in February to regulate Bitcoin, framed as a matter of “national security.”

The administration reportedly wants to frame the regulation in a number of ways: claiming that crypto makes it harder to tax wealthy people, arguing that crypto hurts the dollar, and also pointing out that there is a legal “grey area” when it comes to DAOs.

Is this going to be a good or bad thing for the markets?

Neil says:

I can obviously understand why the government is trying to regulate crypto (to control it), and the bear market doesn’t make things any easier. I think a lot of people associate crypto with wealth, and the American public doesn’t like wealthy people right now. The White House claims it would have a central role when it comes to regulation – but how much can they really control? Even countries that banned crypto are home to millions of crypto traders. The real question is: will there be concrete regulation, instead of everyone always wondering about regulation?

Em says:

Of course the government is going to try to regulate crypto. It tries to regulate everything. It’s a hammer and everything is a nail. But, to me, It doesn’t matter whether this is good or bad. Politicians don’t understand the cryptosphere well enough to regulate well, even if they want to.

Bottom line:

Neil thinks this is more of a “wait and see” thing, Em thinks it’s more of a “politicians are too dumb” thing.

Who do you agree with?

Legendary heirs enter the NFT space

With the NFT boom of 2021 behind us, many experts and analysts expected that more corporations would enter the NFT sector now that there are billions of dollars at play. Of course, it also means that more high-profile artists want to get in on the NFT action – even if they are technically no longer physically with us today.

Some of the most legendary artists of all time have left behind memorabilia – and some heirs are looking to turn that memorabilia into NFTs. Julian Lennon, the son of John Lennon, will be auctioning off some of his father’s private collection as NFTs. The items include “Beatles iconography” and “personal items.” It includes the Afghan coat that John Lennon wore for the Magical Mystery Tour, a Beatles TV special.

Lennon isn’t alone! The heirs of Pablo Picasso will also be auctioning off 1,010 digital art pieces of one of his ceramic works that has never been seen publicly. Marino Picasso, the granddaughter of Pablo Picasso, is spearheading the project. Florian Picasso, Pablo’s great-grandson, claims that this would “build a bridge between the NFT world and the fine art world.”

Does this add more credibility to the NFT space, or does it just look like heirs cashing in because they realize the money they can make?

Neil says:

I do think this is a major deal, and pretty big crypto news. There have been some incredible NFT artists that have emerged, but Picasso art and Lennon memorabilia offer a different level of credibility. Obviously, they’re going to make a lot of money – but I do think that those kinds of names are held at a certain status, and they matter.

Em says:

Wait…John Lennon has a son? I legit didn’t know that. But I guess, get your profits, guy. Why not? Everyone else is taking advantage of the NFT cash cow these days. I can’t say that I would ever buy physical Beatles memorabilia, but I’m sure there’s a market for NFTs.

Bottom line:

Neil thinks this is a thing, Em doesn’t care that much.

Who do you agree with?

FTX valued at $32 billion

Even with a lot of negative cryptocurrency news headlines out there, it looks like Sam Bankman-Fried simply cannot lose. The billionaire’s crypto exchange has recently been valued at a staggering $32 billion, proving that investors are behind FTX despite the recent bear market. This happened thanks to a recent $400 million in Series C funding.

The valuation is $7 billion more than FTX’s valuation in October 2021. Incredibly, this means that FTX is now worth more than the Nasdaq exchange and Twitter. Bankman-Fried has said repeatedly that he believes 2022 will be a year where FTX forges new partnerships and enters new

FTX continues to succeed. Is this proof that investors are still behind crypto despite the bear market, or is this more of a “FTX is an exception” thing?

Neil says:

Honestly – this is really just a testament to Sam Bankman-Fried. There will always be success during bear cycles, but what he’s doing with FTX seems to be unprecedented. I think FTX is the exception here.

Em says:

I think this is a good omen for crypto. Even during a down market, the major players are still thriving, getting eyeballs, and getting new adopters. I definitely saw crypto.com ads during the division championship football games and probably we will during the superbowl. Keep hyping.

Bottom line:

Neil thinks this is an FTX thing, Em thinks it’s a crypto thing.

What do you think?

Will we see a fast-food DAO?

We’ve seen more DAOs rise up than ever before, and some of them haven’t exactly been PR home runs. There was the DAO that tried to purchase a copy of the Constitution and failed, and the Dune DAO that didn’t seem to understand the concept of intellectual property.

FriesDAO wants to raise $9.69 million dollars to start a real-world fast food franchise. Those who invest can potentially influence how operating revenue is spent, given the fact that the tokens will act as governance tokens. Token holders will not get ownership rights, however. Brett Beller, co-founder of the alcohol delivery startup Drizly, points out that this is because of the way “the SEC has actually laid things out.”

It is unclear what fast-food restaurant that the DAO will purchase, but around $1.3 million in USDC has been raised within 2 days of the whitelist sale.

Does this idea make sense, and do you think it has a good chance of succeeding?

Neil says:

See, this is the kind of thing that I can get behind. Golf clubs, exclusive NFT restaurants…those are cool, but why not try to do something that everyone can participate in? Plenty of crypto enthusiasts can easily support the business without breaking the bank, too. I’m a fan of this idea: it’s more realistic than most.

Em says:

I think we’re kind of throwing mud at the wall with DAOs for now. Not to say any of these are bad ideas or definitely won’t work. We just don’t know exactly how best to utilize DOAs yet or what their future looks like. This is a time of experimentation and I’m fine with it.

Bottom line:

Neil thinks this is a down to earth DAO thing, Em thinks it’s an “everyone’s experimenting” thing.

Who do you agree with?

India wants to regulate crypto finally?

There has been a lot of discussion about the fact that two of the biggest and most powerful countries in the world, China and India, haven’t been too keen on crypto whatsoever. There have been rumors swirling that India would ban cryptocurrency for years.

There is some new crypto news that most enthusiasts can get behind: instead of banning crypto, India is looking to tax crypto at 30%. Also, India’s central bank will be launching a digital rupee by 2023, although details are scarce.

The announcements were made by India’s Finance Minister, Nirmala Sitharaman. Interestingly enough, her speech did not include the words “crypto” or “cryptocurrency.” Instead, the phrase “virtual digital asset” was used. Regardless, there’s no question that the cryptocurrency sector is booming in India, whether the government likes it or not.

Is the tax too high? Should we take India at its word, given the fact that they’ve seemed to reverse so much on this issue?

Neil says:

I think this is pretty good news. Yes, India might always “reverse their stance” technically, but this is a LOT better than a ban. More people in India are interested in crypto than ever before, and a 30% tax isn’t THAT far off a standard capital gains tax. I’d say this is a thing – a good one.

Em says:

Crypto was invented to sidestep government fiat currencies and escape monopolistic monetary systems. Of course governments want to tax it, but honestly I think it’s ridiculous. It’s not for anyone’s protection except the central banks and potential CBDCs in the future.

Bottom line:

Neil thinks this is a good thing, Em thinks it’s a ridiculous thing.

Who’s side are you on?

Bad idea of the week: Facebook’s Diem dreams are over

Zuckerberg’s crypto dreams are officially done for.

The Meta-backed Diem, many thought, would be a gamechanger. Meta owns Instagram and Whatsapp, and plenty of analysts$ thought that developing a cryptocurrency was the logical next step. Now, Diem has been sold to Silvergate Capital, a crypto bank, for $182 million dollars. The Diem was meant to be a stablecoin alternative, and was first rolled out in 2019.

How did this happen? You’re a social media platform with BILLIONS of users, and those users usually interact with their friends and family. It’s easy to see why Facebook was interested in developing a crypto, but was it doomed from the start because regulators would never allow it?

If you’re Jack Dorsey, the answer is simple. Zuckerberg was too busy trying to create his own cryptocurrency rather than embrace Bitcoin. The project was plagued not only by regulatory troubles, but there was also lots of internal conflict at Diem.

Should we pour out a little liquor for Diem?

Neil says:

I know that a lot of people think that this was doomed from the start, but it’s actually surprising to see someone with the money and power that Zuckerberg has, not be able to pull off their cryptocurrency dreams. It’s obviously a good sign for crypto enthusiasts who prioritize decentralization.

Em says:

We knew it was coming. This project has been struggling for years. There was no way regulators in the US were going to roll over and let Libra grab the market share of digital currency adoption before the government could roll out a CBDC. Unacceptable!!

Bottom line:

Both Neil and Em agree that Zuck was out of his league on this one.

What do you think?

Meme of the week

As always, Em brings you this beloved meme of the week:

And those are our cryptocurrency news headlines!

What fast food restaurant do you hope that FriesDAO purchases? Will you bid on the Picasso or Lennon NFTs? How much do you think that Biden will try to tax crypto profits, or do you not have any profits to tax (we get it, it’s been a rough couple of months)?

Make sure to tweet us your thoughts/opinions/perspectives at @decentralpub with the hashtag #weeklycryptonews on Twitter.

Oh and if you’re still looking for gift ideas for your crypto valentine, check out our crypto gift giving guide: from personal mining rigs to crypto swag, there’s something for everyone!

Welcome to the January 28, 2022 edition of the Decentral Weekly Crypto News Wrap-Up, where Neil and Em take on the hottest cryptocurrency headlines and answer the question of the week: “Is this a thing?”

It’s starting to look like “crypto winter” might extend into February.

Our weekly crypto news wrap-up is stacked: we talk about how cryptocurrency markets have wiped out over a trillion dollars in value, Twitter launching NFT profiles, the unfortunate Crypto.com hack, and more.

The crypto.com hack

In a previous weekly crypto news wrap-up, our “bad idea” was the fact that Matt Damon’s Crypto.com ad didn’t make the impact that the company had hoped.

Now it looks like the company may have much bigger issues worth millions of dollars.

Crypto.com admitted that a hack took place on January 17th, where unauthorized crypto withdrawals totaled over $30 million. 483 users were affected, but the company has stated that all customers were reimbursed for their losses.

How bad is this for Crypto.com, or is this just something that crypto critics are exaggerating?

Neil says:

Yeah, this isn’t good. Crypto.com probably has the most aggressive marketing campaign in the cryptocurrency sector right now, with the Staples Center naming rights deal and the Matt Damon ad. This is a pretty bad look, but the good news is everyone was reimbursed.

Em says:

The only thing I can really say about this is that it seems like everyone (including myself) can never hear this lesson too many times: self-custody your crypto! Please everyone, take security seriously. :’(

Bottom line:

Both Neil and Em agree this is a thing.

We have a consensus! Do you agree?

Twitter rolls our NFT profile pictures

The NFT boom of 2021 is continuing into 2022, with NFT sales remaining strong even amidst the overall cryptocurrency market slump. Now, there are more NFT artists and NFT companies than ever before.

What about those who want to “flex” on social media with the verified NFTs that they own?

You can now set an NFT as your profile picture, thanks to a partnership between Twitter and OpenSea. It’s good timing when you consider that the NFT boom seems to be ever-growing, and your profile picture will be changed to a hexagonal representation of your chosen NFT. The feature is being marketed as a perk of Twitter Blue, the company’s new premium service.

It’s not that surprising that Twitter is embracing NFTs, especially given that Jack Dorsey is pretty vocal about being a pro-crypto billionaire. Elon Musk has criticized the feature, calling it “annoying.” Others have pointed out that the NFT profile pic feature seems to work even for NFTs that aren’t verified.

Twitter is one place where there seems to be more NFT criticism than anywhere else. Is this feature good, or will it just end up being a fad, or mocked mercilessly?

Neil says:

This isn’t going to be a “thing.” People who are not fans of NFTs are already creating hexagonal profile pics to try and fool people, and this seems more like a status thing than a mass adoption thing. I think this will be made fun of more than utilized.

Em says:

This is the kind of stuff we can expect to happen as adoption grows and the big players realize what they’re dealing with. Web3 isn’t perfect yet, and there are certainly conflicting narratives about how realistic it is, but this is part of the path to legitimacy… if we’re going to reach it.

Bottom line:

Neil thinks this isn’t a thing, and (no surprise) Em disagrees.

Who do you agree with?

Robinhood rolls out crypto wallets

There are several companies that are critical for cryptocurrency mass adoption, and many believe that Robinhood is one of those companies. The company has marketed itself as a millennial/Gen Z-friendly trading and investing app, and boasts around 18 million monthly active users.

Robinhood started rolling out crypto wallets, and there are reportedly over 1.6 million users on the waitlist.

As of right now, only 1,000 customers have access to the beta version of the crypto wallet. This could be much-needed good news for the company, which recently traded at all-time lows. And the company’s reputation has been tarnished a few times over the past two years.

How does this help in terms of mass adoption?

Neil says:

They’ve been talking about this for a long, long time. Robinhood’s reputation has suffered recently, sure, but at the end of the day, this is a big hit with younger investors (just look at the waitlist) which is difficult for finance/investing apps to accomplish. I think this helps.

Em says:

After the whole GameStop fiasco, I don’t know how many decentrally-minded crypto enthusiasts are bullish on Robinhood. I, for one, don’t really trust them. Their crypto options until now have been unattractive to boot. Can they redeem themselves? Idk, time will tell.

Bottom line:

Neil thinks this is a thing, Em disagrees and won’t be switching to Robinhood anytime soon.

What do you think? Is this another Robinhood disaster in the making?

Crypto crash erases over $1 trillion in value

Look, let’s be honest: cryptocurrency markets aren’t doing well right now. Let’s not forget though: the financial markets cycle and the traditional stock market is a great mirror to what is happening in crypto right now.

Both Bitcoin and Ethereum have fallen to 6-month lows, and many average crypto investors are wondering whether “buying the dip” is really the best strategy right now. Believe it or not, over $1 trillion in value has been erased from the crypto markets.

Is this a typical “crypto winter” and will things pick up in the next couple of months as the financial cycle continues cycling back to business as usual?

There is now word that President Biden will be issuing an executive order focused on cryptocurrencies and evaluating their associated risks, and it could be released as early as February 2022. A lot of crypto predictions might be aging pretty badly right now, but is it something to be REALLY worried about long-term?

There’s no way to get around it: this is obviously bad news for the cryptocurrency markets.

Neil says:

We’ve seen this before! Cryptocurrency is volatile. If we want historic bull runs, then we’re going to have to deal with corrections from time to time. I don’t think this is something to be concerned about long-term. Yeah, it’s bad, but the question is whether anyone remembers this “correction” 5 years from now.

Em says:

Oooooof. Yeah, this is a painful correction. I don’t think anyone would deny it. That being said, however……..BUY THE F*CKING DIP.

Bottom line:

Both Neil and Em think this a “thing,” but that it’s also just part of the crypto/stock market cycles.

We (sort-of) have a consensus? What do you think?

Meta and Instagram (and now YouTube) may launch NFT marketplaces

As mentioned earlier, we already know that Twitter wants to embrace NFTs. However, it looks like other social media platforms have the same idea. Both Meta and Instagram (owned by Meta) are reportedly interested in launching an NFT marketplace.

The sources aren’t named, but Meta is reportedly looking to challenge OpenSea, the largest NFT marketplace in the world. Meta’s digital wallet, Novi, will likely play a role if the marketplace is launched.

That’s not all—it looks like YouTube is now interested, as well.

But with their recent decision to cut off their native creators, it’s not clear if YouTube has the time (or PR budget! ha) to take on another roll-out. Plus, given the fact that Facebook and Instagram are home to many cryptocurrency scams, some NFT artists don’t trust these platforms at all.

Is this good news, or will this just lead to Meta (formerly Facebook) being more powerful?

Neil says:

This is a tough one — so many crypto enthusiasts argue for decentralization, and argue that tech companies have too much power. I do think that there are plenty of NFT marketplaces out here that have a BIG head start, and honestly, I’m wary about this.

Em says:

Like the Twitter NFT play, this is probably good for adoption in the long run, even if it’s kind of *eyeroll* in the short run. Companies and brands know if they don’t make a play, they’ll lose out. It’s just a question of whether any of them will do it right.

Bottom line:

Neil thinks this is a “we should be wary” thing, Em thinks it’s a “I hope they do it the right way” thing.

No consensus! Which side are you on?

Bad idea of the week: Paris DR. TRIES to sell a X-ray NFT

Oh dear. In Decentral’s weekly crypto news wrap-up, we’ve examined a lot of bad ideas. We painfully read all about these bad ideas, discuss them, and then work hard to explain why we think they are bad ideas, or how it might be a bad look for the cryptocurrency industry in general.

I have to say: this might take the cake (so far).

A senior surgeon at a Paris hospital decided to sell a patient’s X-ray as an NFT.

Yes, you read that right.

A senior surgeon – which is a licensed medical professional sworn to an oath to act in the best interests of the patient – thought it was a good idea to sell a patient’s X-ray… online… without their permission… as an NFT.

Obviously, Mr. Masmejean is now facing legal action and possible misconduct charges. The patient in question is a young woman who was shot in the arm during the 2015 Bataclan attack, where 130 people were killed. The young woman’s boyfriend was killed, as well.

Have we reached a point where we need to have a refresher on the code of ethics – and some basic laws – about patient privacy and protection?

Neil says:

This man is a “senior surgeon” and didn’t realize how illegal it was? There’s this disturbing trend where a lot of crypto enthusiasts think that, since the industry emphasizes decentralization, anyone can do anything with respect to IP. We saw after we wrote about the Dune story, which was the “bad idea” last week. This is shameful and disturbing.

Em says:

Omggggggg. Haha. Tokenization is supposed to PROTECT data and reclaim privacy for people. In case this person didn’t also realize… ummm… I don’t know what they call it in France, but I’m sure they have something equivalent to HIPAA. Gurl, bai.

Bottom line:

Neil and Em clearly agree this is a bad idea. (Ethics, yo)

What do you think?

Meme of the week

As always, Em brings you this beloved meme of the week:

And that’s our weekly crypto news wrap-up! We hope that you are weathering the crypto winter (at least as much as you can), and make sure to tweet us your thoughts/ opinions/ perspectives by tagging @decentralpub on Twitter.

Welcome to the January 14, 2022 edition of the Decentral Weekly Crypto News Wrap-Up, where Neil and Em take current crypto news topics and answer: “Is this a thing?” It’s three weeks into 2022, and it looks like cryptocurrency headlines are heating back up again.

This week’s crypto news wrap-up includes Arkansas wanting to lure you with Bitcoin, Walmart stepping into the metaverse, trading NFTs with your TV, a DAO wanting to buy a copy of Dune – and more.

Arkansas wants to pay you crypto

Many different cities are hoping to become crypto hubs of some kind, and many of them are home to crypto-friendly politicians eager to appeal to blockchain-related companies and startups. It looks like northern Arkansas is also throwing its hat in the ring.

The Northwest Arkansas Council is offering $10,000 in free Bitcoin to lure newcomers to the area. The goal is simple: attract as much tech talent as possible, and help potentially build the infrastructure for a crypto hub. Applicants have to sign a one-year lease or buy a home to be eligible. Over 35,000 people have applied.

Will this help the Arkansas tech scene?

Neil says:

Salute to Arkansas, and I applaud any region that is trying to attract talent. However – I don’t know. I’ve seen these initiatives come and go, and I’m not sure that giving out free Bitcoin is going to attract anything other than some tech workers. Let’s be honest: for top tech talent, $10k isn’t exactly a huge bartering chip.

Em says:

If there’s gonna be a new tech hub, in less densely populated locations, now’s the time to try to build them. We’re restructuring the workforce anyway in the wake of covid, migration, and huge increases in remote work. Who knows if it will work, but it’s more possible now than ever.

Bottom line:

Neil thinks this isn’t a thing, Em thinks it could be.

Who do you agree with?

Trade NFTs with your TV

We all know that the NFT boom of 2021 was one of the biggest crypto trends in the past year. What if you wanted to do more than just take a look at your NFT collection on your laptop once in a while? Well, very soon, you may be able to purchase – and display – your favorite NFTs on your TV.

Samsung has announced NFT support for its 2022 televisions. The South Korean tech giant announced the feature at CES 2022, and the rumor is that the TVs will support an NFT marketplace aggregator, where users can purchase NFTs, trade them, and even learn about their history.

Will this take off, or is it just a crypto novelty that won’t gain traction?

Neil says:

I think this is one of those strange situations where it’s actually a bit early for this. Samsung is probably smart for announcing NFT integrations this early, but I don’t feel like people are going to start using their TVs to show off their NFT collections anytime soon.

Em says:

There wasn’t a big to-do and celebration when Roku started getting embedded in smart TVs, but now they’re just kind of….a thing. Maybe NFTs will be that way as well. Some things are big and loud and revolutionary… and some things just change, and we barely notice.

Bottom line:

Neil thinks this won’t take off, Em thinks it could be a quiet revolution.

Who do you agree with?

Walmart enters the metaverse

Few companies are more important to the U.S. economy than Walmart, and it looks like the giant retailer is finally getting into the metaverse. It looks like Walmart might also eventually be developing its own cryptocurrency and NFT collections. The company’s trademarks make it clear that it plans on producing and selling virtual goods relatively soon, although exact details haven’t been released.

Thanks to a tweet that went viral several weeks ago, the Walmart metaverse talk has intensified over social media. It was later revealed that Walmart had nothing to do with this video and that it was a proof of concept video from 2017.

Regardless, this is concrete evidence that Walmart wants in on the metaverse trend. Walmart hasn’t elaborated on what its metaverse will look like, instead offering that they are “constantly exploring how emerging technologies may shape future shopping experiences.”

Walmart is a pretty straightforward shopping experience. Does it really NEED a metaverse?

Neil says:

Look, I get it: Walmart’s a big company and they want to be involved in the metaverse somehow. But come on – the metaverse has some exciting things going for itself, but no one wants to go shopping at Walmart in the metaverse. Disney has a metaverse play? Ok, that makes sense: their iconic characters, the movies, the theme parks…but this? I feel like Walmart is just hedging their bets, and not much will really come of this.

Em says:

At this point, I don’t think the public consciousness knows exactly how the metaverse will be used in the future and what it will look like. But if we’re going to find out, we need people to just start building stuff. If Walmart has money to throw around, be my guest. Probably won’t be my favorite spot in the metaverse tho, ngl (ngl=not gonna lie).

Bottom line:

Neil thinks this isn’t a thing, Em thinks we should keep an open mind.

What do you think?

The world’s first NFT restaurant

You’re probably used to the idea of calling days or even weeks ahead of time for a reservation at a famous restaurant. What if the next time you wanted to make a reservation, you needed an NFT to make one? It looks like Flyfish Club, the world’s first “NFT restaurant”, will be opening in Manhattan in 2023.

Who’s behind it? None other than Gary Vaynerchuk, one of the most well-known NFT influencers in the world. Flyfish has sold around $15 million worth of NFTs, and many of these NFTs are trading much higher on the secondary market. The seafood menu will reportedly be “globally inspired.”

Members can even lease or sell their memberships to others when necessary. The restaurant will also feature an omakase room, outdoor space, and a cocktail lounge.

This is a bit of a courageous concept. Do you think it’ll take off, or will this just be a crypto “status symbol” restaurant that loses its appeal soon after it opens?

Neil says:

Normally I’m pretty skeptical about things like this, but I have to say: the idea where an NFT could act as a restaurant membership could definitely work in a place like NYC. It would be interesting to see other restaurants pop up with this model, but I think it’s a cool idea. At the same time, I hope they do something with this idea, rather than just make it an exclusive “cool club.”

Em says:

This is classic GaryVee. I would totally expect him to do something like this. Just jump in, try all the things, do all the things, see what’s popular and what sticks. It smacks a little bit as rich people doing rich people things so it’s a bit *eye roll* but, keep doing you, Gary.

Bottom line:

Neil thinks this could be a cool thing, Em thinks this is mostly just a Gary Vee thing.

Who do you agree with?

Celebrities in crypto hot water

There’s no doubt about it: a lot of money that comes with building a following. Whether you’re a crypto influencer, a movie actress, or a Tiktok star – companies will probably be asking you to promote their products and services. They will often be happy to pay you significant amounts of cash in return for your posting or tweeting about them. After all, brands expect to pay a staggering $15 billion to influencers in 2022.

The problem arises when celebrities get mixed up in promoting investments, and that includes cryptocurrency investments. Two high-profile celebrities, Kim Kardashian and Floyd Mayweather, are facing a lawsuit related to EthereumMax. The $EMAX token is now more or less worthless, and investors are claiming the celebrities purposely touted the token to deceive their followers.

Will this stop shady crypto companies from connecting with influencers, or should we expect to see more of this?

Neil says:

This is the kind of thing that really gives crypto a bad name. When people talk about how crypto is going to change the world, headlines where there are very rich and powerful celebrities pumping and dumping tokens on their followers really end up hurting anyone who believes in the power of blockchain. There will always be scams in crypto, I imagine, but I don’t like the idea of teenage followers losing money because their favorite Youtuber pumped a sh*tcoin.

Em says:

First of all: stop it. That’s directed at everyone. The celebrities that are profiting off the “pump and dumps”. The suckers who get influenced into shitcoins by Kim Kardashian of all people, and, yes, I would even say the regulators who are trying to “protect” consumers. Everyone just wisen up.

Bottom line:

Neil thinks it’s a “lack of regulation” thing, Em thinks it’s a “investors should wisen up” thing.

Who do you agree with?

Bad idea of the week: The Dune debacle

There’s a bad idea somewhere in every crypto news wrap-up, and unfortunately, this week was a bit obvious. SpiceDAO spent $3 million on a rare copy of a proposed Dune adaptation by Alejandro Jodorowsky. The goal was to make the book public, launch an animated series, and sell it to a streaming service.

There’s one major problem – SpiceDAO thought they would automatically get the rights to the adaptation once they purchased the novel. Obviously, this isn’t the case. Twitter also pointed out that a copy was already free and available, and continued to roast the DAO for several days relentlessly.

Let’s face it: this is bad PR. Explain your thoughts when you first heard/read about this story.

Neil says:

This feeds right into the hands of crypto critics. Many people have been critical of the NFT craze because they felt like crypto enthusiasts don’t really respect artist ownership – some artists have had their work stolen, sold as NFTs, and gotten nothing for it. This SpiceDAO scandal is similar: spending millions of dollars without understanding the concept of IP makes the entire sector look foolish.

Em says:

Lolllllllll. This seems like a lack of basic, conceptual research that should have been done way, way before any actions were taken. I’ll be honest it’s a pretty dunkable move. You don’t have to be a savant lawyer to know that buying a book doesn’t equal IP rights. hahahahaha

Bottom line:

Both Neil and Em agree that this is a bad look.

What do you think?

Meme of the week

As always, Em brings you the meme of the week:

And that’s our crypto news wrap-up! Are you excited for the metaverse, and what will you do when you get there first? Are you making any big changes to your cryptocurrency portfolio to account for the growth of the metaverse? Make sure to let us know at @decentralpub on Twitter.

Welcome to the January 14, 2022 edition of the Decentral Weekly Crypto News Wrap-Up, where Neil and Em analyze the crypto news and contemplate the all-important question: “Is this a thing?” We’re already two weeks into 2022, which means that you’re allowed to bring up NFTs at the dinner table again.

This week’s crypto news wrap-up is jam-packed: PayPal might launch a stablecoin, there’s a golf club DAO now, Disney wants to track you at its theme parks, Matt Damon getting roasted, and much more.

PayPal “exploring” a stablecoin

There are few companies as critical to the payments industry as PayPal, which was founded in 1998. For years now, many enthusiasts have pointed out the advantages of crypto over traditional financial intermediaries like PayPal. Now, the payments giant is trying to adapt.

It looks like PayPal is currently exploring the launch of a new stablecoin. This shouldn’t come as much of a surprise, considering that PayPal seems to have finally come around to the fact that crypto is here to stay. In October 2020, PayPal announced that users could buy, sell, and hold cryptocurrency on their platform.

What do you think? Is this the right move for PayPal, or is it too late?

Neil says:

It seems like every major payment company and social media platform has explored the idea of a stablecoin, but I don’t think a PayPal stablecoin will really work out. One of the reasons that Square grew so quickly is because they embraced cryptocurrency while PayPal lagged. It might just be too late for PayPal.

Em says:

Existing and old-school financial services have to do something to stay relevant. They’re losing their footing as new and different technologies get developed, so they might as well try to keep up. I don’t know if it will save them, but it looks like they’re trying to hang with the fellow kids.

Bottom line:

Neil thinks it’s a “too late thing,” Em thinks it’s a “keep up with the crowd” thing.

Who do you agree with?

Give a golf clap for a new DAO

One of the biggest crypto news stories of 2021 was that a DAO wanted to purchase a copy of The Constitution. Even though the effort ultimately failed, it looks like more people are interested in creating a DAO, or decentralized autonomous organization, than ever before. Remember that just last week, Shiba Inu announced that it plans on launching a DAO.

Mike Dudas, a well-known crypto investor, started a DAO called LinksDAO that raised $10.4 million in 48 hours. How? They sold NFTs, of course. The ultimate goal is for the DAO to buy a golf course and for investors to have more voting rights and control than a traditional golf course.

Funds from the NFT sales will reportedly go towards forming the DAO, and additional legal fees and operating costs. LinksDAO plans to launch officially in early 2022, and has already formed a C-Corporation, a necessary step if they hope to purchase real estate.

Does this contradict the “anti-establishment” messaging that appeals to many cryptocurrency investors? Should we embrace a decentralized golf club?

Neil says:

A decentralized golf club sounds cool, but it’s not the most interesting idea for a DAO I’ve heard of. I imagine the club could be a nice crypto networking space if they can pull it off. At the same time, isn’t crypto supposed to be SOMEWHAT anti-establishment? What’s more “establishment” than a golf club?

Em says:

Maybe DAOs will work for companies or even government structures. That’s unfolding as we speak. But currently, DAOs seem to be largely a community structure—what better place to try it out than a goold old golf club. Those certainly have their own kind of community vibe.

Bottom line:

Neil thinks this is an overrated thing, Em disagrees.

Who do you agree with?

Dorsey feuds about Web3

It doesn’t matter what your industry is—the general public is always interested when it seems like two titans are fighting. Whether it’s Conor McGregor trash-talking for a fight or Elon Musk baiting the SEC on social media, it can be interesting to see what rich and powerful people are fighting about and why.

Jack Dorsey, known for his hipster look, eccentric diet, and calm demeanor, is making it clear that he’s not a fan of Marc Andreessen. It’s interesting considering that Andreesen’s accomplishments stack up nicely even next to the Square CEO’s feats. Marc is a general partner at one of the most respected VCs in Silicon Valley and co-founded Netscape. He also helped invent Mosaic, one of the Internet’s first web browsers.

Dorsey is revisiting the feud even after Andreesen blocked him late last year. The tension went public when the two argued over Twitter about the future of “Web3.” Jack Dorsey believes that Web3 will only benefit VCs like Andreesen, and that it is ultimately a “centralized entity with a different label.”

Does Jack have a point? Whose side are you on, if you had to choose between the two?

Neil says:

I think that VCs will invest in whatever makes sense for them, so I’m not entirely sure about the point that Jack is trying to make. It’s almost like saying, “Cryptocurrencies are useless because now hedge funds are buying them.” Sure, VCs are going to invest into large emerging technologies. This seems more personal than about Web 3.0.” For a man who said that Bitcoin could help bring about “world peace,” he sure seems cynical here.

Em says:

Is this high school? I think the real question here is what everyone is arguing about. The concepts and philosophy of Web3 are different from the reality of implementation. Knowing what you’re arguing about is a prerequisite to getting anywhere. But I guess if they’re both blocked, they’re not really trying to get anywhere.

Bottom line:

Neil thinks this is a confusing argument thing, Em thinks it’s a high school thing.

Who do you agree with?

Mickey Mouse, meet the metaverse

There’s no question that Disney has done an incredible job at branding its theme parks as a family destination, but it looks like they want to take things to the next level. Disney has been approved for a patent that would create “personalized interactive attractions” for visitors at their theme parks. In other words, Disney theme parks will feature metaverse experiences to “unlock new layers of storytelling.”

The patented technology means that 3D images and other virtual effects will be projected onto real-world objects. Disney already incorporates augmented reality technology at its theme parks, but it will ensure that the experience is more personalized. Last year, Bob Chapek, the CEO of Disney, stated that the entertainment giant was ready for its “own metaverse.”

The technology would be tracking individual visitors the entire time. The goal is for Disney theme parks to offer virtual world technology without visitors having to wear bulky AR headsets or similar equipment. The company claims it has “no current plans” on using the technology.

Is this dystopian, or will it just be another way to entertain the millions of children who visit Disney parks every year?

Neil says:

Yeah, you could see this coming from a mile away. Disney will probably end up making billions in their own metaverse thanks to their IPs, patents, and characters. This is going to be a big deal, and I can see how this technology can add a bit of “magic” to their parks that will attract more visitors.

Em says:

I’d probably put a small bet on the metaverse being the next NFTs as far as reach, influence, and adoption outside of the cryptosphere. It looks like companies like Disney and Facebook (Meta) are trying to get ahead of the puck. Either that or they’re trying to create the puck…

Bottom line:

Both Neil and Em agree this is a thing.

What do you think?

GameStop gets into NFTs

It was a record year for NFTs last year, and there is more interest in gaming NFTs and blockchain-based games than ever before. That’s why it isn’t too surprising to find out that GameStop is busy creating an NFT marketplace. Apparently, the video game retailer has a team of 20 working on an “online hub” where users can buy, sell, and trade NFTs.

Shares jumped 20% on the news, given the fact that NFTs remain one of tech’s most popular “buzzwords.” GameStop is reportedly hoping to launch the NFT marketplace by late 2022. Does the video game chain have what it takes to compete with other major NFT platforms?

With more eyes on GameStop than ever, can the company leverage that new attention into big-name metaverse partnerships? Some critics are even questioning whether the article is legitimate, as well, given the Wall Street Journal’s lack of “named sources.”

GameStop became a “meme” stock last year after its stock price skyrocketed in early 2021. Are they serious or is this a pure cash grab?

Neil says:

I’ll go ahead and be the cynic here: I don’t think this is going to work. GameStop had a massive moment last year as a “meme stock”

Em says:

After the r/wallstreetbets debacle last year, GameStop had its rise from the ashes coming. Let the hedge funds and even Robinhood bet against you, then join the people in crypto and get the last laugh. At least, I hope that’s how it plays out for GameStop. If only for the lolz.

Bottom line:

Neil thinks this isn’t a thing, Em thinks it is.

Who do you agree with?

Bad idea of the week: Damon didn’t deliver

The crypto news-wrap up just wouldn’t be complete without our “bad idea.”

Many pro-crypto enthusiasts have been excited about crypto companies making major advertising moves, like Crypto.com recently nabbing the naming rights to the Staples Center and the fact that both Crypto.com and FTX will be shelling out millions for Super Bowl ads.

Many cryptocurrency traders believe that Crypto.com made a power move with the Los Angeles sports center, but it does look like they may have made a bit of a branding mistake. A Matt Damon ad has gone viral on social media for how cringe-inducing it is…and the roasting was pretty bad. The advertisement featured the slogan “Fortune favors the bold,” and compared crypto investors to history’s explorers, adventurers, and astronauts.

In the end, there’s no other way to put it: if the ad was meant to attract people who tend to be skeptical about cryptocurrency, it clearly failed. Matt Damon might be an award-winning actor, but the thing about actors…they’re limited to scripts, and this one didn’t cut it. Check out the commercial here.

Neil says:

Crypto.com has hundreds of millions of dollars to spend on advertising, so it’s not like this is their “last shot” by any means. However, I think that many of these crypto companies need to understand that not everyone is ecstatic about crypto, and a cringe-worthy commercial like this where Matt Damon compares astronauts to crypto investors isn’t going to play out well. Not the worst ad I’ve ever seen, but I see why it went viral for the wrong reasons.

Em says:

No press is bad press is a legit phrase, but I’ll be honest, this ad wasn’t even cringey enough to be good cringe-porn. It was just bad and boring. I’d be lying if I said I hated it as much as Twitter did—but not because it wasn’t bad, just because I fell asleep out of disinterest.

Bottom line:

Both Neil and Em think the commercial was underwhelming.

What do you think?

Meme of the week

As always, Em brings you your meme of the week:

And that’s our crypto news wrap-up! What cryptocurrency are you most excited about for 2022? Are you “buying the dip” right now, or nervous about your cryptocurrency portfolio? Make sure to let us know at @decentralpub on Twitter.

Welcome to the first 2022 edition of the Decentral Weekly Crypto News Wrap-Up, where Neil and Em analyze the crypto news and debate the age-old question: “Is this a thing?”

This week, we talk about the latest crypto news: South Korea banning play to earn games, Berkeley implementing blockchain technology, Shanghai interested in the metaverse, Shiba Inu’s new DAO, and more.

Shiba Inu’s new DAO

There are many fascinating meme coins out there, but Shiba Inu has garnered a whole lot of attention in 2021. It looks like the Dogecoin rival is continuing that trend in 2022. The developers of Shiba Inu are launching a DAO with the goal of giving users more control over the Shiba Inu cryptocurrency.

The beta version of the DAO will be launching in several days, but its launch will take place in several stages. The developers claim that the DAO will give “immediate power to the community.” In related news, Shiba Inu just broke a record last week after burning over 1 billion tokens.

Should we care about Shiba Inu’s new DAO? Can we expect this from similar meme coins?

Neil says:

I honestly don’t care much about Shiba Inu, but I do feel like DAOs will play a bigger role in the crypto sector soon. The idea of becoming an investor and actually having a say in your investment is big, and Shiba Inu is smart to embrace that trend now. I care more about the “DAO” aspect of this than the “Shiba Inu” part.

Em says:

DAOs have been getting bad press, so this probably doesn’t help considering Shiba Inu is such a joke. I think DAOs are really cool and will do some great things for decentralization, but some projects aren’t doing much good PR for crypto.

Bottom line:

Neil thinks this is a DAO thing, Em thinks this is a bad PR thing.

Who do you agree with?

South Korea bans “play to earn” games

It’s no secret that some countries embrace crypto more than others, with some countries trying to crack down on cryptocurrency as much as possible. It’s well known that the country isn’t the biggest fan of crypto, with many of its crypto exchanges shutting down last year.

The country is also looking to ban play to earn games, which isn’t too surprising. With play to earn games, players can actually earn crypto while they play. The South Korean government has asked both Apple and Google to remove these games.

Will South Korea stick to this ban, and can they truly control the rise of play to earn gaming?

Neil says:

There are billions of gamers in the world, and I don’t think South Korea is going to be successful here. However they enforce this ban, I’m not sure that it’s the smartest move. South Korea is also notorious for trying to censor the gaming sector, but it’s one of the biggest gaming markets in the world. I don’t see this working out.

Em says:

Authoritarians gonna authouritate. South Korea may not be on the same level as North Korea, but they’re pretty known for controlling and engineering social and pop culture standards to gain influence. Just read a little about k-pop.

Bottom line:

Neil thinks this is a difficult thing, Em thinks it’s an authoritarian thing.

Who do you agree with?

Russia launches blockchain-focused ETF

Many crypto enthusiasts are interested in announcements that prove that mass adoption is on the way with respect to cryptocurrency. In the United States, hedge funds are investing in crypto. All over the world, the NFT craze has helped fuel the cryptocurrency markets as well.

Now, it looks like Russia’s largest bank is launching a blockchain-focused ETF, the first of its kind in the country. Sberbank will track the “Sber Blockchain Economy Index,” which gives investors exposure to established cryptocurrency companies like Coinbase, Galaxy Digital, and more. Crypto is still popular in Russia, even though the Russian Central Bank has signaled that it plans on banning crypto investments.

Does this move mean that Russia may change its approach to crypto in the future?

Neil says:

Authoritarian countries hate crypto, and I don’t think Russia is an exception. They might let a Russian investor benefit from Coinbase stock, but that’s a far cry from embracing cryptocurrency. They want to benefit from the growth of blockchain technology without embracing crypto.

Em says:

I see this as Russia trying to get in on the money that’s in crypto. An ETF isn’t blockchain or crypto, it’s just bundled stocks. So, they can get their share of the moola without embracing it for real. But, I think crypto will force everyone’s hand eventually.

Bottom line:

Neil thinks Russia won’t change, Em thinks this could signal change.

Who do you agree with?

Shanghai wants in on the metaverse

It’s no secret that the “metaverse” is the new buzzword in the tech sector. More corporations are interested in minting NFTs and offering “branded experiences” in the metaverse. It also looks like China’s biggest city is interested in figuring out how the metaverse will play a role in its growth.

Shanghai has issued a five-year development plan that directly mentions the metaverse. Earlier this year, China also mentioned blockchain in its national five-year plan for the first time. Shanghai elaborated that they were interested in metaverse applications regarding “public services, business offices, social entertainment,” and more.

Will we now see a new wave of Chinese metaverse entrepreneurs?

Shanghai is one of the largest and most influential cities in China. Does this move the needle for the metaverse?

Neil says:

China has some vested interest in using buzzwords like this in their “five-year plans,” because they know that it might attract more publicity. Will Shanghai really commit to this? Eh…I feel like it’s more lip service than anything else. Baidu is clearly interested, which is a big deal, but I have to see something from Shanghai to believe it.

Em says:

I think this is just a tiny bit scary in the way that Mark Zuckerburg’s metaverse is a tiny bit scary. It doesn’t move the needle for the metaverse but does for China as they try to implement things that will gain them more influence in the world economy and culture.

Bottom line:

Neil thinks this isn’t a thing, Em thinks it is.

Who do you agree with?

Berkeley flirts with blockchain

Many questions remain regarding how cities and countries will begin using blockchain technology. Some believe that blockchain will play an important role in the rise of “smart cities,” while others believe that blockchain will provide more transparency to infrastructure, supply chains, or even the voting process.

It looks like the city of Berkeley is ready to incorporate blockchain into its municipal bond program, thanks to a unanimous vote. The ultimate goal is for blockchain to improve and democratize access to the city’s municipal bonds. The new microbond system allows investors to purchase municipal bonds at $100 or less, rather than the traditional $5,000 minimum.

Is this the kind of initiative that other cities will soon be taking, or is Berkeley just early to the party?

Neil says:

I don’t think you’ll see many other cities doing this anytime soon. I think Berkeley is early to the party, but I also think this is one of the most boring blockchain applications imaginable. Municipal bonds? I don’t know..not the “sexiest” application. This is cool, but not exactly revolutionary.

Em says:

New tech is new tech and I think blockchain will be used if it’s useful. Berkeley or any other entity that wants to find new and better ways of doing things will probably adopt blockchain even if they’re not into crypto.

Bottom line:

Neil thinks this isn’t a thing, Em disagrees.

What do you think?

Bad idea of the week: a reporter gets scammed

There are countless cryptocurrency scams these days, many of them thriving thanks to fake social media accounts or rug pulls. Unfortunately, a former reporter from Detroit named Nicole Vowell got scammed last week.

She was interacting with an account claiming to be Darius Williams, a friend of hers. The only problem was that she talked to a cybercriminal, not Darius. Someone hacked Darius’s account, and convinced her to send funds for a “crypto mining strategy.”

She sent $13,000—some of the money was borrowed—believing that she would eventually receive a $40,000 payout. She ultimately realized it was a scam, and Darius himself had also been a victim. Vowell has previously reported on various scams and hopes that speaking out will help others who might fall prey to similar cryptocurrency scams.

Neil says:

You know the saddest part of this entire story? Nicole could’ve avoided ALL of this just by picking up the phone. I understand that people communicate with friends/family on social media, but sending them thousands of dollars without even confirming anything over the phone, or in person? Scams are always unfortunate, but that was the most depressing thing about this to me.

Em says:

Listen. Please, please stop getting scammed, everyone! I once texted my dad, “Did you get hacked cause I just got weird messages from you on FB.” And he was like… “You thought my messages were weird? *sadface* The point is, always be looking for these kinds of scams, they’re easy to bust.

Bottom line:

Neil thinks this was depressing, and Em thinks this was avoidable.

What do you think?

Meme of the week

As always, Em brings you your meme of the week:

It’s 2022. What are your cryptocurrency resolutions? Do you have any New Year’s resolutions about crypto trading or investing? Make sure to let us know at @decentralpub on Twitter.

It seems safe to say that 2021 saw some major crypto news headlines. The year overall was a great one for cryptocurrency and DeFi. It saw explosive growth of the global crypto market cap as a whole, exciting new projects making their way into the top 10 biggest cryptos, and more stories of institutional adoption than in previous years.

Take a trip down memory lane with these nine crypto headlines to see how far the crypto market has progressed in 2021.

1. El Salvador mines Bitcoin with volcanoes

One of the most interesting crypto news headlines from the year was when El Salvador adopted Bitcoin as official legal currency in the country in September 2021. A month later, the Central American nation announced plans to start mining Bitcoin using the natural geothermal energy of its volcanoes.

This story was memorable because Bitcoin is notorious for being extremely unsustainable for the environment. The fact that El Salvador was able to find an energy-efficient way to mine Bitcoin was exciting news for Bitcoin’s progress in becoming accepted in mainstream society.

2. Ether up 1,000% since 2020

Another memorable story was when the Ether cryptocurrency saw a 1,000% increase in price in late October 2021 compared to the same time in 2020. Back then, ETH was a little under $400. By 2021, it reached a new all-time high of a little over $4,400. This sort of explosive growth was a great news story because it showed Ether’s growth rate outperforming Bitcoin.

If this continues into 2022, some speculate it could mean Ether replacing Bitcoin as the largest cryptocurrency. While the DeFi platform still has a long way to go to get to the top, the expected completion of its Ethereum 2.0 upgrade to a proof-of-stake blockchain could potentially be what it needs to take it there.

3. Miami becoming a Bitcoin city

Another unforgettable story was when the mayor of Miami, Francis Suarez, announced plans to pay residents a “Bitcoin yield.” While Suarez called it Bitcoin, the actual payments would be dividends received from staking the city’s official crypto: MiamiCoin.

This story was exciting because it shows how crypto is gaining more institutional acceptance in the U.S. After Miami, New York City announced its own coin: NYC Coin. And mayors of both cities announced plans to take their paychecks in Bitcoin. It’ll be interesting to see if any other cities jump on this trend in 2022.

4. Facebook whistleblower supports herself financially with crypto

In October, Frances Haugen left her job as product manager at Facebook and became a whistleblower, exposing how the tech giant prioritizes profit over its users’ wellbeing.

What makes this story newsworthy in the crypto world is that Haugen revealed that despite leaving her job, she was supporting herself financially through her own crypto investments, even announcing that she had left for Puerto Rico, which is known among crypto investors as a tax haven. This shows how cryptocurrency has the potential to support someone who lost a job or is otherwise in need of financial support.

5. Bitcoin reached more transaction volume than PayPal

In the first quarter of 2021, Bitcoin surpassed PayPal in terms of transaction volume, handling 62% more transactions in terms of dollar value. However, if Bitcoin wants to compete with MasterCard and Visa, it will need to find a way to scale its blockchain technology to handle a higher number of transactions, a problem it is already working on solving with the Lightning Network.

While Bitcoin is still far behind MasterCard and Visa, this story is one of the most exciting crypto news headlines of the year because it shows how the Bitcoin network is growing and being used by more people. As crypto becomes more mainstream, this number is bound to keep growing.

6. El Salvador to build Bitcoin schools

With the profits of the Salvadoran government’s Bitcoin trust account, the Central American country announced plans to create 20 “Bitcoin schools.” This move is interesting because educating people about cryptocurrency is an important step to helping those who are unbanked access the financial services they need.

El Salvador also used some of its profits to create a total of 400 schools and a veterinary hospital. This story and El Salvador’s experiment with Bitcoin as a whole will be an exciting one to watch in the new year.

7. U.S. passed China as the largest Bitcoin mining hub

Up until China banned cryptocurrency mining in May of 2021, it was the country with the highest Bitcoin hash rate, at 67%. Once the ban took effect, many Bitcoin miners ended up moving to the U.S. This increased the U.S.’s Bitcoin mining hash rate from just a little over 4% at the end of 2020 to 35% by the same time in 2021.

This story is memorable because with China no longer dominating the Bitcoin mining industry, it opens the doors for other countries to compete to host the industry within their borders. It’ll be interesting to see how this affects the blockchain industry in 2022.

8. Crypto market in Africa grows by 1,200%

Another interesting story in the crypto news headlines of 2021 was that the cryptocurrency market in Africa soared by 1,200%, with an overall value of $105.6 billion. Specifically, Nigeria, South Africa, Kenya, and Tanzania made it into the top 20 countries with the highest crypto adoption rate. And compared to the crypto adoption rates of all other continents around the world, Africa as a whole had the third-highest rate.

This was a fascinating story because it shows how cryptocurrency and DeFi continue to grow in other countries, especially in places where people are looking for a way to protect their finances against inflation.

9. SQUID token scam

Last but not least, who could forget the Squid Game cryptocurrency scam? This was one of the largest crypto news headlines of the year, with the story getting picked up by major news outlets. The SQUID token was a pump and dump scheme, with the coin’s creators quickly cashing out all their shares and stealing a little over $2 million from investors.

While there were clear indicators it was a scam from the beginning, this story was still memorable because it showed what can happen in the crypto world if you aren’t careful where you invest your money.

What will the crypto news headlines look like next year?

It seems likely that the crypto market will continue to experience some of the same growth in 2022 as it saw in 2021.

More institutions and politicians may start embracing cryptocurrency, which could help make it more widespread as a payment source in everyday life. On the other hand, more acceptance in mainstream society could come with more regulation, a topic that has been widely discussed in the crypto community.

The new year could also see some blockchain projects getting even better. For example, Ethereum’s 2.0 upgrade is expected to be completed sometime in 2022, which has the potential to launch ETH to even higher prices. Some have even speculated that 2022 could be the year it overtakes Bitcoin. But whatever happens, it seems like the progress made by the crypto economy, blockchain technology, and the DeFi industry will only keep growing in 2022!

Ukraine raises over $50 million in cryptocurrency

The world’s first NFT vending machine is here

Bitconnect founder finally charged

Bank of America denies “crypto winter”

EU postpones crypto regulations vote

Bad idea of the week: BuyTheBroncos, hold your horses

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JP Morgan steps into the metaverse

Snoop Dogg creating first metaverse record label

Salesforce employees protesting NFT plans

The DAO to free Julian Assange

Colorado accepting Bitcoin for state taxes

Bad idea of the week: Miami’s cryptocurrency proves to be mediocre

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Coinbase and the unconventional QR code ad

Larry David stars in an FTX commercial

Binance invests in Forbes

The infamous crypto laundering couple

Russia backs off a crypto ban

Bad idea of the week: Watch out for romance scams

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Gensler wants some cooperation

FTX enters Japanese markets with Liquid acquisition

Will Florida be home to the first NFT purchase?

The metaverse hiring spree continues

Super Bowl NFTs are here

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Biden wants crypto regulation

Legendary heirs enter the NFT space

FTX valued at $32 billion

Will we see a fast-food DAO?

India wants to regulate crypto finally?

Bad idea of the week: Facebook’s Diem dreams are over

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The crypto.com hack

Twitter rolls our NFT profile pictures

Robinhood rolls out crypto wallets

Crypto crash erases over $1 trillion in value

Meta and Instagram (and now YouTube) may launch NFT marketplaces

Bad idea of the week: Paris DR. TRIES to sell a X-ray NFT

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Arkansas wants to pay you crypto

Trade NFTs with your TV

Walmart enters the metaverse

The world’s first NFT restaurant

Celebrities in crypto hot water

Bad idea of the week: The Dune debacle

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PayPal “exploring” a stablecoin

Give a golf clap for a new DAO

Dorsey feuds about Web3

Mickey Mouse, meet the metaverse

GameStop gets into NFTs

Bad idea of the week: Damon didn’t deliver

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Shiba Inu’s new DAO

South Korea bans “play to earn” games

Russia launches blockchain-focused ETF

Shanghai wants in on the metaverse

Berkeley flirts with blockchain

Bad idea of the week: a reporter gets scammed

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1. El Salvador mines Bitcoin with volcanoes

2. Ether up 1,000% since 2020

3. Miami becoming a Bitcoin city

4. Facebook whistleblower supports herself financially with crypto

5. Bitcoin reached more transaction volume than PayPal

6. El Salvador to build Bitcoin schools

7. U.S. passed China as the largest Bitcoin mining hub

8. Crypto market in Africa grows by 1,200%