ALSO: Jack Dorsey’s “Bluesky” protocol opens waitlist, Coinbase waives fees for USDC-fiat conversions and more |
The biggest crypto news and ideas of the day |
Were you forwarded this newsletter? Sign up here. Don't want this newsletter? Unsubscribe |
|
|
Hello and welcome to The Node. This is Daniel Kuhn and Xinyi Luo, here to take you through the latest in crypto news and why it matters. In today’s newsletter: |
|
|
Crypto Hopefuls Seek Value in Joke Tokens After Vitalik Buterin’s Tweets: After Ethereum co-creator Vitalik Buterin tweeted a joke about “THE Protocol,” enterprising jokersters went ahead and built the token – and a slew of other related meme coins. THE quickly rose to become one of the most-traded tokens on Uniswap, at ~$10 million in on-chain trading volume with over 5,000 holders. THE was followed by other articles including THIS, THEY, THAT and other imitations on BNB Chain, Solana and other blockchains. The combined market capitalization now stands over $50 million. “Meme trading is a risky way to try to seek excessive return, but when it pans out, the upside can be very huge,” James Wo, founder at crypto fund DFG, told CoinDesk. Jack Dorsey-Backed Decentralized Social Network Bluesky Gets 30,000 Signups in 48 Hours: Bluesky, the decentralized social network initiative backed by Twitter founder Jack Dorsey since 2019, opened its waitlist on Tuesday for a “private beta.” The so-called "decentralized standard for social media" hopes to replace companies like Twitter and Facebook with an overarching identity protocol for the internet. Although crypto developer Jay Graber is leading Bluesky development, the “federated” network doesn’t use a blockchain. Tho, knowing Dorsey, Bitcoin may play a part. Crypto Exchange Coinbase Waives Fees for USDC and Fiat Conversions: Publicly traded crypto exchange Coinbase will no longer charge commission fees for USD coin (USDC) sales and purchases made in any fiat currency. The change will likely catalyze global adoption of its stablecoin, considering the dollar’s relative strength in today’s foreign exchange markets. USDC’s market share is falling in part because of changes at crypto exchange Binance to promote its own BUSD stablecoin. – D.K. and Xinyi Luo |
The Right Place for Your Crypto
Nexo marks the spot. As in the right spot for you to grow your crypto wealth and keep it secure.
Buy BTC, ETH, and more with your debit or credit card or swap between 300+ market pairs and get 0.5% in crypto rewards on each transaction.
If you're looking to enhance your spending power, Nexo is the right place. Borrow without selling your crypto at rates starting from 0% and grow your portfolio.
The right place brings you and your friends together and gives you both crypto rewards. Get $25 in BTC for every successful referral.
Timing the market can be a tall order. Choosing the right place is not.
Grow your crypto on the highly-rated Nexo platform.
|
|
|
Putting the news into perspective |
(Trevor Jones for CoinDesk) In Craig Wright Verdict, Reality Prevails David Z. Morris writes about Craig Wright’s latest legal defeat following a pre-emptive defamation suit filed by Bitcoin influencer Hodlnaut in Norway. The judge found Wright, who still inexplicably claims to have invented Bitcoin, lacked evidence tying him to Satoshi Nakamoto. Morris links this ruling to other recent developments (from Alex Jones’ near-billion-dollar fine to Elon Musk agreeing to overpay for Twitter) where it seems like reality has prevailed. Read the full article here. |
Displate is the leading marketplace for unique metal posters. So far, we have sold over 5 million posters all over the world – our main markets are the US, UK, France, and Germany. By working with over 40 thousand artists, Displate offers access to 1.5 million works, and among them you will find many official designs created in cooperation with our partner brands such as Star Wars, DC Comics, The Witcher, Cyberpunk 2077, Marvel, Netflix, and many more. |
|
|
Overheard on CoinDesk TV... |
"We see anything but a winter. We see all time highs across all forms of development activity." – Jason Shah, Alchemy product manager, on CoinDesk TV's "First Mover" |
|
|
The Folks Jack Dorsey Tapped to Make a ‘Decentralized’ Social Platform Now Have a Beta (Gizmodo) South Korea Says Report Do Kwon Transited Via Dubai ‘Not False’ (Bloomberg – paywalled) ZkSync to launch on mainnet this month: What you need to know (The Block) Skeptics Decry Crypto Bill and SBF’s ‘Industry Norms Manual’ as Bad for DeFi (The Defiant) Venture capitalists hate gaming but love play-to-earn token prices (Protos) |
|
|
|
