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Ether Blows Past $1,900 Leading Up to the Merge

By Allen Taylor | Cryptocracy | 12 Aug 2022


Peter Schiff says bitcoin will fall below $10,000 and never see another high. I think Peter Schiff is high.

Ether hits 2-month high, surges above $1,900. JPMorgan says miners face an abrupt change after the MergeNo shit, Sherlock. Is it foolish to expect a price surge before and after the Merge? The long-expected event could happen sooner than expectedThe target date has been moved up to September 15 or 16.

Ripple Labs puts an eye on Celsius’ assetsThey’re not the first to do so, but Ripple buying Celsius would be quite significant. For one thing, it would mean diversification for the company. But it could also signify an interest in getting into crypto lending in a broader way.

Binance has recovered most of its funds stolen from Curve Finance. Binance Labs invests in Ankr. And Uzbekistan blocks the crypto exchangeOther exchanges were blocked, as well, including Huobi, FTX, and Bybit. I don’t understand why countries don’t make it easier for their citizens to trade crypto. Why make it harder?

MakerDAO considers ditching USDC as collateral. Cofounder Rune Christensen says a new era of DeFi has been ushered in by the Tornado Cash incident and the future is a bit bleakIf he’s right, decentralized finance is about to get more decentralized, and I think he’s probably right.

Huobi to sell 60 percent stake. Tron’s Justin Sun and FTX’s Sam Bankman-Fried reportedly have expressed an interestSun denies blowing a kiss. But he denies a lot of things.

Some social media influencers are paid thousands of dollars to shill cryptoIf you didn’t know this already, you’re blind as a bat.

Former U.S. presidential candidate and cofounder of Tether Brock Pierce has started a Super PAC to popularize blockchain technology. I have a lot of respect for Brock Pierce, but I’m generally against PACs and Super PACs. All this lobbying is destroying representative government.

12-year-old makes $400,000 selling NFTsCan a protocol be guilty of violating child labor laws? Meanwhile, Dan Harmon, creator of Rick and Morty, has partnered with Blockchain Creative Labs and Rarible on an NFT collection involving Krap Chickens.

NFT Krap Chickens

Can Web3 break the social media disillusionmentYou’ll get a fuller treatment of this topic in my book Cryptosocial: How Cryptocurrencies Are Changing Social Media.

How to earn interest on crypto savings accounts.

BitFinex is under investigation again.

Revolut’s crypto education course gets 1.5 million customers in the first month.

Will quantum computing put an end to cryptocurrencies?

Can Bitcoin SV call out fake news?

Magic Eden wants to build an NFT marketplace for Bored Apes. See the ApeCoin proposal here.

KuCoin integrates 1inch.

OpenSea is implementing a crime reporting policy. What to do if your NFTs are stolen.

Robinhood’s wallet waitlist surpasses 1 million.

The Tornado Cash crackdown exposes the limits of crypto regulationIt also shows the audacity of regulators and the lengths to which they’ll go to make life hard on anyone who doesn’t buy their horse manure.

Why a billionaire made it a point to outbid a DAO for the U.S. Constitution.

Mark Cuban is the target of a class-action lawsuit for promoting Voyager Digital. People have to quit blaming celebrities for their bad decisions.

The benefits of digital identity in the metaverseReinventing yourself in the metaverse.

13 reasons investing in crypto is a bad ideaMost of these aren’t bad reasons at all. They’re reasons to investigate further. But one, in particular, stands out as completely idiotic. The assertion that “fiat currencies could work on a blockchain” has nothing to do with whether investing in cryptocurrencies is a good idea. And putting a fiat currency on a distributed ledger wouldn’t make it a cryptocurrency. These currencies are usually called digital currencies and there is a fine distinction between them and true cryptocurrencies. Just because it’s backed by the government doesn’t make the currency any more valuable. Another one—”the market is crowded with made-up currencies”—is just as idiotic. That’s like saying the economy is crowded with made-up products that people sell to each other. So what? That’s what a market is—a bevy of made-up products. Funny, the article ends with suggestions on how you can invest in crypto if you’re still interested. Can you say “click bait?”

Only 1 in 10 advisors would recommend investing in crypto.

Invitation: Earn crypto while learning about crypto on cryptosocial platform Publish0x.

Publish0x crypto clubhouse

The IRS is making a push to get customer information from SFOX. You know what this means? They’re coming after your money, even if you don’t use SFOX.

Why hackers are able to steal millions in crypto.

There’s been a surge of investors getting into crypto lately.

Turkey is the biggest crypto market in the Middle East.

Taiwan turns to InterPlanetary File System (IPFS) to secure information against cyberattacks.

7.3 percent of Indians owned cryptocurrency in 2021.

Snark and commentary are evident in italics. Not financial advice. Do your own research and don’t take any wooden nickels.

Cryptocracy is a decentralized newsletter published several times a week. I curate the latest news and crypto analysis from some of the brightest minds in crypto, and sometimes offer a little insightful and snarky commentary. Always fresh, always interesting, and always crypto.

First published at Cryptocracy. Not to be construed as financial advice. Do your own research.

Image credit: nft now

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Allen Taylor
Allen Taylor

Writer, editor, publisher. Content strategist for fintech, blockchain, and crypto firms.


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