This week on Crypto Twitter: Wikipedia accused of playing politics, Coinbase’s pesky monkey collaboration widely mocked
Leading cryptocurrencies gained in value this week despite the US central bank’s announcement on Wednesday that interest rates will be raised by an additional 75 basis points to fight inflation.
Usually these kind of announcements are bad for crypto markets. Last month, the Fed raised rates by 75 basis points in the largest increase since 1994. Cryptocurrency Prices knocked down hard as borrowing costs rose, causing investors to shed riskier assets. No such answer came this timewith all leading cryptocurrencies recording significant price growth in seven days.
AND heated debate are now raging whether the United States, after two consecutive quarters of negative GDP growth, is in recession. The White House thinks not.
🇺🇸 WH press secretary Jean-Pierre denies claims that White House officials are “redefining recession” after two consecutive quarters of negative GDP growth. pic.twitter.com/SkUWSHXnRy
The debate was so intense that Wikipedia set editing permissions “recession” page to “semi-protect”, meaning that new or infrequent users must wait four days and make 10 edits on other pages before they can edit an article.
The news hit Binance CEO Changpeng “CZ” Zhao, but at least he lent a helping hand.
You learn about recession, you learn about inflation, and then you learn about #bitcoinand #BNB.
And he confirmed the meeting with Turkish Finance Minister Nureddin Nebati.
In April 2021, the Turkish central bank banned crypto payments despite the country having some of the world’s highest crypto usage per capita. However, the author’s report Bloomberg in May confirmed that the country drafting regulations control the market. One tentative proposal requires crypto companies to have at least 100 million lira ($5.6 million), while global exchanges and lenders looking to expand in Turkish territory may have to open branches that the government can tax.
In other news, CEO, bitcoin maximalist and MicroStrategy boss Michael Saylor spent some teary-eyed time 3.98 billion dollars on Bitcoin and likely to remain underwater on the investment, it stands firm.
After today’s Federal Reserve meeting, #BitcoinMonetary policy remains unchanged.
Saylor threw shade at Ethereum in a video interview earlier this month, implying that the world’s second favorite cryptocurrency is a centralized security. Responding to a tweet about it this week, Ethereum creator Vitalik Buterin was not happy.
Buterin also offered his opinion on corporate attempts to build a metaverse. Hint: He doesn’t think Mark Zuckerberg will conquer the market.
The “metaverse” will happen, but I don’t think any of the existing corporate attempts to deliberately create a metaverse are going anywhere. https://t.co/tVUfq4CWmP
Responding to his original tweet, Buterin clarified that he believed Meta metaverse pivot it won’t work simply because it’s too early.
My criticism goes deeper than “Metaverse Wikipedia will beat Metaverse Encyclopedia Britannica”. It’s that we don’t really know the definition of “metaverse” yet, it’s too early to know what people actually want. So anything Facebook creates now will fail.
The film meanders along with little sense of plot, suspense or drama. It’s really a five-minute cryptocurrency. Crypto Twitter has widely criticized the project. And someone better check to see if crypto podcaster Cobie is still answering the phone.
hahahahahahahahahahahahahahahahahahahahahahahahahahahahaha I’m going to shoot myself in the head