This week on Crypto Twitter: Wikipedia accused of playing politics, Coinbase’s pesky monkey collaboration widely mocked

This week on Crypto Twitter: Wikipedia accused of playing politics, Coinbase's pesky monkey collaboration widely mocked

Illustration by Mitchell Preffer for Decrypt

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.

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.

Wikipedia Privacy Policy he says: “Semi-protection is useful when there is a significant amount of disturbance or vandalism from new or unregistered users.”

The news hit Binance CEO Changpeng “CZ” Zhao, but at least he lent a helping hand.

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.

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.

Responding to his original tweet, Buterin clarified that he believed Meta metaverse pivot it won’t work simply because it’s too early.

‘Web3 bingo cringe festival’

Coinbase has teamed up with Bored Ape Yacht Club to produce a three-part metaverse-themed film called “The Degen Trilogy”. The first part was published on Tuesday.

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.

Come to think of it, it’s good.

A tweeter known as Coin Bureau suggested filing the film with the Securities and Exchange Commission.

Coin Corner CEO Danny Scott wants his five minutes back.

And finally, on a related note, multi-platinum hip hop producer Illa Da Producer has announced that he has joined the BAYC team at Yuga Labs.

Illa is known for his frequent collaborations with crypto lover rap legend Eminem.

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