Daily Crypto NewsEDITION #280, 10 August 2021

Novogratz kicks assholes

Hey Moni Maker

Today, in 1985, Michael Jackson bought all the rights to The Beatles songs for $47.5 million. Inflation is a harsh thing. Nowadays you can only buy a couple of crypto punks for that pennies...

Crypto fixes it. Well, crypto fixes inflation. But the community has plenty of challenges of its own. Digest will tell you about them. Let's go!

What is Novogratz unhappy about?

Senator Richard Shelby has refused to support any amendments unless his defense spending proposal is considered. Shelby is 87 years old

So what's up?

The US Senate voted to move the current version of the $1.2 trillion infrastructure bill to a final vote on Tuesday morning. Importantly, the bill still includes language that cryptocurrency advocates believe would be hugely damaging to their industry in the US.

"So what?" is not going to happen now. Bro Mike has said it all for us.

According to CryptoSlam, Axie Infinity token sales reached $1.07 billion. It is the first NFT game to reach such a figure.

Almost 20% of Axie Infinity's sales came last week.

The second most polarising game is NBA Top Shot, a game created on the Flow blockchain. Over the lifetime of the app, NFT's sales totaled $675 million.

So what?

Entertainment is more interesting than finance. Entertainment is rainbow, clear and fun. Finance is boring, drab, and monotonous. So...yeah, the NFT game market can f@ck everyone else. F@ck it hard.

Circle has stated its intentions to become a "bank for digital assets”. This company is now issuing a USDC.

In their release, they wrote about their ambition to become a global bank with nearly free transactions, combining fiat currencies with open source blockchains. They are also ready to cooperate with regulators.

Read the release, but we warn there's too much water!

NBA Top Shot, of course! At these kiosks, people will be able to register accounts and purchase exclusive packs.

The first kiosk is being rolled out at summer league games, and they are expected to be open for all games in the 21-22 season

According to the quarterly report, Tether has a collateral of $62.7bn, which is roughly equal to USDT's total market capitalization.

So what?

Ha! It's a straight-up report distributor. You could release an album of reports and then a couple of report remixes... :)))

The US Securities and Exchange Commission (SEC) has fined cryptocurrency exchange Poloniex $10m for selling unregistered securities to US customers from July 2017 to November 2019.

The exchange will pay $10m in compensation.

So what?

Uh-oh. We do realize that those ten million are a flop for such a huge company. It's a flick. In the knee. From a kid. With no arm.

A volatile asset is one in which the price changes too sharply and quickly. Such assets are riskier, but they allow you to make quicker and bigger profits.

And more you can find in our Glossary!

And you...buy Bitcoin! (it's a good time!)