Daily Crypto NewsEDITION #1037, 22 August

Ethereum is good, McDonald’s “memecoin” is bad

Today, in 2002, the Thai authorities banned the use of elephants for street transportation. Let the elephants rest, we need bulls...

Now, let’s get straight to the important stuff. After all, we value your time, and time is Moni.

What’s up?

Everyone’s talking about it: Yesterday, someone hacked McDonald’s account and posted a scam meme coin contract. In the end, the audience got ragged for $700k in $SOL, as the scammers themselves wrote in McDonald’s bio.

It turns out that even McDonald’s isn’t a safe haven for crypto heads. We thought we’d all end up working there, but instead, we’re getting scammed through it. What a shame! 

Other important news:

- Vitalik Buterin realized what people expect from him. He wrote that people are asking him to spread more bullish sentiment about Ethereum. He posted a picture of a bull holding a sign that says, "Ethereum is good."

Buterin’s PR team knows how to go viral. 

- Binance is planning to hire 1,000 people. That’s a good sign. Typically, in a bear market, crypto companies cut staff, while in a bull market, they hire. 

Note: Many of those being hired will work in the regulatory sphere. Binance really doesn’t want any more legal issues. Overall, this is also a sign that crypto is becoming more regulated, and exchanges are adapting. Most likely, we’ll see the rise of DeFi as a result. Crypto folks will start leaving centralized platforms for decentralized ones, and in their place, normies who don’t care about decentralization will move in.

Remember this prediction.

- Another bullish signal: Tether printed $3 billion in the last week. Usually, they print that much money before a massive buy-up.

- Trump is once again outplaying Harris on Polymarket: 53% to 46%. Following this, there’s been news that Harris’s campaign promises to “help the crypto industry grow.”

Sure, and the SEC is just protecting poor investors from risks :) Help yourself, Ms. Harris, and leave us alone.