Daily Crypto NewsEDITION #524, 14 June 2022

Baskerville's dog squeaks pitifully (DOGE and Elon Musk)

Hey Moni Maker 🥙

Today, in 1999, the US Supreme Court overturned a 65-year-old ban on TV casino advertising. However, the situation in modern America is interesting - in some states, you can easily walk into a casino with a bottle of whiskey and blow your deposit there in 5 minutes, while gambling is strictly prohibited in others. In essence, this is the decentralisation we're talking about. Well, the tip of the iceberg. 

Let's go! 

Elon "Scam-Him_please-Someone" Musk rocked the Saturday Night Live show last May, shilling the token $DOGE, which was worth a record $0.72 at the time. A year has passed, and Doge is trading at $0.05.

Dogecoin is thought to be the first 'meme coin' created by Jackson Palmer and Billy Marcus in 2013 as a joke to mock the plethora of altcoins flooding the market. The joke coin soon caught the attention of billionaire Elon Musk, who began tweeting, as he claims, ironically (although it's believed that he was stuffing his bags with dogs as early as 2019).

Now Musk is promising flights into space and rides in a Tesla, which could be paid for by DOGE. However, at the current rate, Elon has a better chance of sending a man to Mars than Dodge to the moon.

Let's take a break from the asshole market and look at the news we missed.  

TBD, Jack Dorsey's business unit focused on blockchains, has announced that it will build a new decentralized Web5 network. What that is and where Web 4 went, we'll look into.

According to TBD, Web3, based on a decentralized network, blockchain and cryptocurrency, has the right direction but uses the wrong tools. But Jack and his team, with a proper and good Web5, will save the game. They are so confident in their progeny that Web4 can be skipped, and their Web should be the fifth one.

Web5 will use bitcoin, a decentralized monetary network and a host of trusted computing technologies to create a new ecosystem of decentralized credentials, data storage and applications where users control their personal information.

Several Coinbase employees filed an anonymous online petition demanding the removal of Chief Operating Officer Emily Choi, Chief Product Officer Surojit Chatterjee and Chief Human Resources Officer L.J. Brock in a show of no confidence in the largest cryptocurrency exchange in the US. 

But then Brian Armstrong came along and said that the plan sucked, and in general, if someone didn't like something, they should have told him instead of writing all sorts of slander. The one who started it would be fired and the rest of ppl would have to go off and find a place where we could be happy.

Btw, the complaints themselves were pretty interesting: the failure of the Coinbase NFT platform, and the aggressive hiring of a bunch of employees, even though the company has an unsustainable work plan and a toxic culture. Brian called it all multi-level stupidity, making you think that the toxicity may have been complained about for a reason.

Hard Cap is a maximum fundraising goal that crypto startups can receive from investors on ICO/IDO/IEO and etc. Fun fact – there was no hard cap on Ethereum ICO.

And more you can find in our Glossary!

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