Daily Crypto NewsEDITION #240, 17 June 2021

How to crash the economy?

Hey #Moni Maker 🔏

Today, in 1987, the popular rapper Kendrick Lamar was born. One of Kendrick's most popular songs is Swimming Pools. In it, Lamar raps about his own pools and hommies that swim in them.

We also have pools. We also love to swim in them. However, so far chlorine is not added to the water in the form of an exit scam.

Ok, something went wrong. Digest is waiting!

But it began beautifully ...

😭😭😭

Steve Hanke, a professor of applied economics at Johns Hopkins University, has warned that El Salvador’s recent adoption of Bitcoin (BTC) as legal tender has the potential to “completely collapse the economy.”

Steve Hanke served as a senior economist under President Ronald Reagan’s administration from 1981 to 1982. Hanke has previously described BTC as a speculative asset “with a fundamental value of zero,” and in April, the 78-year-old tweeted, “Cryptocurrencies are the future of money. Bitcoin is not.”

Speaking with streaming financial news provider Kitco News on Tuesday, the university professor noted that BTC hodlers from regions such as Russia and China could now target El Salvador to cash out their holdings — essentially draining the country of its United States dollars:

“It has the potential to completely collapse the economy because all the dollars in El Salvador could be vacuumed up, and there’d be no money in the country. They don’t have a domestic currency.”

So what?

The headline is cool, really. Five points, Cointelegraph, you learn from the best! (us)

But ... Russia and China again? Seriously? ... Bro, we have as many cashing options in the CIS as El Salvador has stores.

Growing growing!

BTC 50K PLZ

So what?

Well, Bollinger is not a F*S employee. He is a good trader, we can believe him. We do!

The Queen doesn't like memes and crypto

And clickbaits too :)

More than nine in ten independent financial advisers (IFAs) in Britain would never recommend cryptocurrencies or so-called meme stocks to their clients, an Opinium poll showed on Wednesday.

Meme stocks - companies whose value is fuelled by social media attention - and digital coins have soared in popularity as stay-at-home rules and high savings rates during the pandemic triggered a surge in stock investing by non-professionals.

Yet 93% of IFAs would never recommend investing in cryptocurrencies, while 95% would never do so for meme stocks, the poll based on a sample of 200 IFAs in the UK showed.

Some 91% of IFAs would be concerned if a client said they were investing in either type of asset, it found, suggesting deep-set worries amid high volatility and close attention from regulators.

So what?

Surely! For crypto trading, you need nerves of steel. Consultants prefer another metal, it is safer ... :)

How I met your Bitcoins

😨 Wow 😨

CoinFlip teamed up with Neil Patrick Harris to launch a promotional video to showcase the ease of investing in Bitcoin.

In the ad titled "So Flippin 'Easy," Neil Patrick Harris, actor (best known for his role as Barney Stinson in How I Met Your Mother) and a crypto investor (by the way, he is a veteran crypto investor), represents the ATM machine that "turns cash into cryptocurrency ".

FOX NFT Fund

* Do you hear this music too? *

In May, Fox Entertainment first announced the launch of Blockchain Creative Labs, a non-fungible token (NFT) marketplace of sorts. The media titan said that the marketplace would sell digital goods, including NFTs, “that provide exclusive social experiences to engage and reward super fans.”

Now, with a fresh $100 million, Fox Entertainment and its animation studio, Bento Box Entertainment, are doubling down on these ambitions.

Bento Box developed popular animated series such as “Bob’s Burgers,” “Lazor Wulf,” and is currently producing “Krapopolis,” a new animated series from the creator of “Rick and Morty,” Dan Harmon. The upcoming series with Harmon will also be the first production out of Blockchain Creative Labs.