This Week’s Winners and Losers in Crypto
Big week in crypto! Banks going down causing BTC to go up. Alts (sort of) following suit. But who are the biggest winners and losers for the week? Biggest Winner(s): Arbitrum Airdrop Participants Thursday was a big day for those eligible for the coveted Arbitrum airdrop, but there were bumps along the way. The claim site was down from almost moments when it went live, and was nearly inaccessible for hours. However, after the dust settled, the price hovered above what estimates predicted (>$1)...
STOCK Act Gets Busted
Nancy Pelosi might not be too keen on the reformation bubbling up in her backyard. On Thursday, a new framework was released to change the policy known as the STOCK Act, aka "Stop Trading on Congressional Knowledge", which puts the onus on congressional and government leaders to disclose stock and asset purchases, in order keep transparency with the public. Historically, there have been quite a few calls on leaders to stop purchasing stocks because of the potential of insider knowledge on upc...
ETHPOW KO'd Already?!
https://twitter.com/scottmelker/status/1571200237653336071 What the vast majority of people already knew would happen eventually happened and much earlier than anticipated. ETHPOW, the forked version of Ethereum, crashed hard after the Merge, losing over 85% of it's initial value. The fork was already fighting an uphill battle with how they would operate in parallel to Ethereum, but they had a big issue right off the bat…their chainID was matching other existing chainID's, which wou...
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This Week’s Winners and Losers in Crypto
Big week in crypto! Banks going down causing BTC to go up. Alts (sort of) following suit. But who are the biggest winners and losers for the week? Biggest Winner(s): Arbitrum Airdrop Participants Thursday was a big day for those eligible for the coveted Arbitrum airdrop, but there were bumps along the way. The claim site was down from almost moments when it went live, and was nearly inaccessible for hours. However, after the dust settled, the price hovered above what estimates predicted (>$1)...
STOCK Act Gets Busted
Nancy Pelosi might not be too keen on the reformation bubbling up in her backyard. On Thursday, a new framework was released to change the policy known as the STOCK Act, aka "Stop Trading on Congressional Knowledge", which puts the onus on congressional and government leaders to disclose stock and asset purchases, in order keep transparency with the public. Historically, there have been quite a few calls on leaders to stop purchasing stocks because of the potential of insider knowledge on upc...
ETHPOW KO'd Already?!
https://twitter.com/scottmelker/status/1571200237653336071 What the vast majority of people already knew would happen eventually happened and much earlier than anticipated. ETHPOW, the forked version of Ethereum, crashed hard after the Merge, losing over 85% of it's initial value. The fork was already fighting an uphill battle with how they would operate in parallel to Ethereum, but they had a big issue right off the bat…their chainID was matching other existing chainID's, which wou...
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FTX’s spectacular implosion sent ripples which was felt by all through the cryptoverse, but has also hit the people of the Bahamas, where FTX was headquartered. According to a report in the WSJ, the island nation initially welcomed FTX with it’s lax and favorable crypto laws and eventually the locals became the supporting cast for FTX employees. Catering, security, transportation, event planning, logistics and many more services were required and the locals began taking up these jobs, creating a micro-economy revolving around the disgraced exchange. Now with the collapse, the once bustling area around FTX HQ is barren, with jobs disappearing right along with it, and locals are not happy. However, some of the crypto community are feeling zero sympathy with the nation, stating their pre-disposition to be a haven for those wanting to evade taxes “serves them right” for this situation they provided.
It is unfortunate for the locals, who are only trying to make a living in a third-world nation. Taking advantage in order to feed themselves and their families isn’t wrong. And although the FTX collapse is a direct cause of unemployment for those locals, there isn’t much recourse here. All they can do is start over, hoping another high-end business comes to town to reduce cost and taxes and, in turn, boosts their economy again.
Written by: nikethereum.eth / Medium / Mirror
FTX’s spectacular implosion sent ripples which was felt by all through the cryptoverse, but has also hit the people of the Bahamas, where FTX was headquartered. According to a report in the WSJ, the island nation initially welcomed FTX with it’s lax and favorable crypto laws and eventually the locals became the supporting cast for FTX employees. Catering, security, transportation, event planning, logistics and many more services were required and the locals began taking up these jobs, creating a micro-economy revolving around the disgraced exchange. Now with the collapse, the once bustling area around FTX HQ is barren, with jobs disappearing right along with it, and locals are not happy. However, some of the crypto community are feeling zero sympathy with the nation, stating their pre-disposition to be a haven for those wanting to evade taxes “serves them right” for this situation they provided.
It is unfortunate for the locals, who are only trying to make a living in a third-world nation. Taking advantage in order to feed themselves and their families isn’t wrong. And although the FTX collapse is a direct cause of unemployment for those locals, there isn’t much recourse here. All they can do is start over, hoping another high-end business comes to town to reduce cost and taxes and, in turn, boosts their economy again.
Written by: nikethereum.eth / Medium / Mirror
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