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Coinbase Takes the Crypto Securities Fight to SEC

What are NFTs good for?

Good morning!

I'm reeling from a cross-country trip. Drove from Texas to Pennsylvania. My wife, feisty Pomeranian Hawthorne, and I left East Texas last Wednesday, and made our trek to Gettysburg, Pennsylvania by way of the Deep South. We first stopped in Nacogdoches, the oldest town in Texas, to shoot a video of its historic district and self-guided walking tour for our YouTube channel. After staying the night in our campervan, we moved on to Leesville, Louisiana and created a video there. After docking in Walmart's parking lot overnight, we bounced over to Natchez, Mississippi and created another video. Saturday and Sunday were all-day travel days and we arrived in Gettysburg last evening. It's a bit cooler here than in Texas, but we'll poised to enjoy our two-month stay.

For the curious, here's a small taste of our tours:

The Storytellers monument in Nacogdoches, Texas (yes, that's me being a card)

Without further ado, here's today's crypto fodder (I'm going to do my best to keep this short).

Web3 News You Can Use

Coinbase has filed legal action against the Securities and Exchange Commission (SEC), but will it save crypto? I like this move. Don't wait for the SEC to come after you. Take the fight to them. One lawyer says Coinbase would never delist BTC or ETH the way it XRP. I completely agree, and for the record, I don't like the way Coinbase has treated XRP. It could hurt Coinbase's case in the long run, but I'm still rooting for Coinbase. Bill Morgan agrees with me.

NFT sales drop by 5.76 percent. How to prevent NFT intellectual property infringements. This is the second month in a row for declines in NFT sales. That doesn't mean NFTs are falling out of favor. It's a consequence of a down market and some of the negative news that has been hitting the headlines. When the market turns upward, NFT sales will climb again.

ChatGPT states bitcoin has a 15 percent chance of fading into irrelevancy. The artificial intelligence analyst also predicts the price of XRP at the end of 2023. ChatGPT could become a crypto analyst's best friend, but will it predict accurate results? You'll be surprised at what it says XRP's potential is.

Is Optimism a bust? I honestly don't know why Optimism needs a token. It's a bridge for ETH. Frankly, I like Polygon more.

Exit scams and other crypto exploits led to $103 million lost in April.

Source: Certik

When USDC de-pegged in Q1 2023, Avalanche transactions soared.

Deloitte announces 300 new Web3 job roles.

Mastercard strengthens Web3 toehold with Polygon, Avalanche, Solana, and other partnerships. For all the talk about how Web3 is supposed to free internet citizens from the iron grip of corporate hierarchies, we may all wake up one day and realize that Web3 has been taken over by corporate giants, just like they took over Web2. It may be different corporate giants, but don't count on Web3 being the paradise of freedom you think of it as today forever.

Tips for migrating from Web2 to Web3.

Why DAOs should shift to a retroactive funding model.

The European Union and IOTA publish a position paper on smart contracts, digital identity, and supply chain management.

Snark and commentary are in italics. Inclusion of an item doesn’t mean I agree or endorse the ideas presented. Of course, it also doesn’t mean I don’t.

Cryptocracy is a decentralized newsletter published on Mondays, Wednesdays, and Fridays by award-winning journalist Allen Taylor. First published at Paragraph, each issue is republished at Mirror, Hive, and through other Web3 channels.

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