Anyone who has been remotely keeping up with crypto news over the last few years knows that this downtrend is healthy for the market because it shrugs off any rooky weak traders and it helps the crypto-curious world know more about this emerging technology. The last few weeks in particular have been about regulatory and environmental risks.
On the crypto regulatory front, many countries are still having a hostile stance toward bitcoin and other cryptocurrencies. Even countries who were once crypto advocates, like China and Turkey, are declaring war against the crypto world. On the other hand, El Salvador became the first country to approve bitcoin as a legal tender, and India is allegedly shifting towards regulating the crypto markets and mulling to classify Bitcoin as an asset class rather than banning it. But who knows if India won't change its mind like it did last time 🙇.
The Bitcoin Mining Council is a voluntary and open forum of Bitcoin miners committed to the network and its core principles. We promote transparency, share best practices, and educate the public on the benefits of #Bitcoin and Bitcoin mining. Join us. 🙏https://t.co/vGPGD3TA5p— Michael Saylor (@michael_saylor) June 10, 2021
While Musk is still caught up in the snowball he helped create, the debate over the environmental impact of mining intensifies among traders.
This is inaccurate. Tesla only sold ~10% of holdings to confirm BTC could be liquidated easily without moving market.— Elon Musk (@elonmusk) June 13, 2021
When there’s confirmation of reasonable (~50%) clean energy usage by miners with positive future trend, Tesla will resume allowing Bitcoin transactions.
I know you read the name Paris Hilton in the title and you're wondering if there was a typo of some sort. I assure you there is none. And yes. It is the same Paris Hilton who once milked a cow. Today, Paris Hilton is the latest celebrity to join the crypto sphere by not only becoming an investor but as an NFT advisor too! Keep reading to know more☕.
And speaking of NFTs, the iconic Doge has become the world's most expensive meme as a photo of our favorite dog turned into an NFT of the meme that was just sold for $4M!
In any case, it is very intriguing to see where the crypto markets will head next. Hope you're well seated and ready as we're going to explore last week’s main headlines that you might have missed!
The world's first truly digital coin has recovered 11.99% from last week jolted by El Salvador news. BTC, trading $39,601 at the time of writing, is testing $40k levels but the bull are failing to overcome this barrier.
“I don’t like it because it’s another currency competing against the dollar, essentially it’s a currency competing with the dollar. I want the dollar to be the currency of the world. That’s what I’ve always said. ”
It's worth mentioning that last week bitcoin price has fallen 10% after Former President Donald Trump called it a scam coin in an interview with Fox Business, Albawaba reported.
Jack Dorsey says he will integrate Lightning Network into Twitter or BlueSky
Crypto advocate and Twitter’s CEO Jack Dorsey has revealed his intentions to integrate Lightning Network into Twitter or BlueSky.
Stream sats. Build LN into BlueSky or Twitter please and thank you.— deyonté 🟩 (@deyonte_btc) June 11, 2021
Although he confirmed these plans, his answer is still vague as he didn’t provide any timeline or details.
Earlier this month, the tech juggernaut unveiled that his other company, Square, is developing an open-source non-custodial Bitcoin hardware wallet.
Paris Hilton An NFT Advisor
Despite the meltdown of prices in the NFT market, Hollywood’s sweetheart Paris Hilton has joined Origin team as an NFT investor and an advisor
In a blog post Origins announces: “As an investor and advisor, Paris will provide strategic advice on how to most effectively deliver value with NFTs for top-tier creators like celebrities, influencers, and brands.”
- Become an Official CoinMarketCap Influencer! The price-tracking platform is inviting crypto Bloggers, YouTubers, Chat Moderators, and any creator who loves crypto and wants to join the CoinMarketCap family.
- Coinbase will list the stablecoin tether (USDT)
- Take a quiz! Earn $FIO Tokens
- Binance: Register an account at Crypto exchange Binance via gift link to receive a share of $100,000 in TRX, BTT, WIN, JST and SUN.
- Coinmarketcap: Take this quiz to earn $CKB Tokens.
- Drive Fiat 500 and earn crypto while you drive
Podcasts Worth Listening to
- What is Hedging? Ahamd Sharkatly, Kalam Mushafar
- Is the Bitcoin Bull Market Over? Nathaniel Whittemore, The Breakdown.
Disclaimer: The Cryptocurrency market is considered highly speculative, risky, and largely unregulated. Anyone mulling investing in it, should be aware there's a risk of losing their entire investment.
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