Daily Crypto NewsEDITION #754, 17 May 2023

FUD and Hate in Ledger Land

Hey, Moni Maker! 👾

Today, in 1997, Paul McCartney hit the world record by receiving more than 3 million questions in less than 30 minutes. Ha-ha. Paul, good for you. Btw, bite me. We, crypto bros, receive even more questions in 5 minutes when BTC is growing. Our old mates hit us with questions like “how to buy,” “when to buy” and “how to sell." Looool.

Ok, Ledger hit this record, too, thanks to Crypto Twitter. We'll cover it. Also, Swell and Arbitrum top coins are on the radar. Coinbase and regulation as well. And we are grabbing WLs from CoS.

Let's go!

#TOPNEWS

What's happening with Ledger?

Without going into too much detail, we'll give you our yesterday's post with an update.

Yesterday's post:

– Ledger, the parent of cold crypto wallets, will launch a "Recovery" seed phrase feature that will cost $9.99 per month.

So what's the deal?

– Reddit and Twitter users quickly caught on that something was amiss. They started investigating, and surprise! Ledger will fragment your seed phrase and send it encrypted to three companies. And if you want to recover it, they will collect the fragments and send them back to you.

– A bunch of crypto bros expressed their opinion that the service is garbage. No amount of phrase fragmentation (decentralization, hehe) or encryption will save your seed phrase from potential leaks.

Update:

However, another side of Crypto Twitter stood up for the company. They said, "Well, you can choose not to enable this service, and Ledger will never become a global bank without such a function. Plus, no one is forcing you to use this particular feature."

It's needed to a) attract more people because how can you be a bank without a recovery method and b) for those who are okay with it.

Crypto nerds like us can continue using Ledgers without enabling this feature at our own risk.

Long story short, decide for yourself, think for yourself, as they say. In any case, we stirred up quite a commotion. And yes, there simply isn't a better way to store crypto at the moment than Ledger.

#LONGSTORYSHORT

Cheap Ethereum | Coinbase and regulation

– Ethereum gets cheaper to use as memecoin frenzy subsides: ‘Is the meme narrative finished?’

– Coinbase is a 'hold' amid 'too much regulatory risk,' says Berenberg

#TWITTERWHISPER

Anton Bukov VS MetaMask

????????

Explain me new @MetaMask ToS:
4.3 Taxes. Each party will be responsible, as required under applicable law, for identifying and paying all taxes and other governmental fees and charges. (…) We reserve the right to withhold taxes where required. https://t.co/XA5Mt174Uk
— Anton Bukov 🦇🔊 ⚖️ (@k06a) May 17, 2023

#APEORHATE

Swell Network: Staking, Airdrop, and LSD

Please bear in mind it's not a shill, and we have no responsibilities for the project. It's on your own, ok?

Swell Network is a transparent, non-custodial, liquid protocol (LSD) designed for Ethereum validators and stakers.

What's up:

- Moni Discover Score: 572 (very, very good!)

- Degens in followers: 78 (many cool ones)

- Confirmed airdrop for stakers

- Launch in 7 days

Recently, the project announced that they would soon have a token and are promising LSDfi Summer. The website also has a countdown to the start of the first chapter and the number of people who have staked their hard-earned money (2915 individuals).

The airdrop will be given to the first 176 people (mentioned in Discord), but the timer with the number of participants inspires. So, if you have the desire and some ETH, you are supposed to (at your own risk, probably, DYOR, not financial advice).

DYOR links:

– Twitter

– Discord

– Website

#MONIMAKER