🚀 GM,
TGIF! 🎉 It’s finally Friday, and I hope you’re ready to kick back and enjoy some well-deserved relaxation. So, fasten your seatbelts, grab your favorite beverage (a little early won’t hurt, right?), and let’s dive headfirst into the top stories that have been buzzing around this week! 📰🌟
💰 Elon Musk’s Potential Stablecoin Sparks Bipartisan Concerns!
🚫 Congressman Calls Satoshi, ‘Saratoshi Nagamoto’
💻 Crypto Regulations Closer Than Ever In US
🎨99-Yr Old Hungarian Artist’s NFTs Sold For $1.2M
An Elon Musk Stablecoin? What?
Lawmakers are buzzing with concerns over proposed stablecoin legislation that could inadvertently give tech moguls like Elon Musk the power to issue their own stablecoins.
While the House Financial Services Committee is set to pass the bill, skeptics believe it’s a slippery slope toward an Elon Musk-driven stablecoin takeover.
During a recent markup session, Rep. Maxine Waters unleashed her concerns, calling the idea of Musk issuing a stablecoin a “frightening proposition.”
😱 And who can blame her?
Musk isn’t satisfied with just conquering space 🚀 and creating electric cars 🚗.
No, no, he wants to turn Twitter into THE go-to destination for all things communication and finances. It’s like combining social media and a Swiss bank all in one!
According to Musk, his Twitter X vision includes creating a global marketplace where ideas, goods, services, and opportunities flow freely.
But here’s the kicker: lawmakers might unknowingly be paving the way for Musk and other tech giants to dominate the stablecoin landscape.
Even Rep. Ralph Norman, a Republican, raised concerns, pointing out that the current bill seems to forget the small detail of prohibiting commercial entities from launching their own stablecoins.
Remember the saga of Diem? Yeah, the stablecoin project by Meta, formerly known as Facebook. It started with a bang, but after facing relentless opposition and a whole bunch of setbacks, Meta had to hit the brakes and shelve the ambitious project. ⛔️
Congressman Says Bitcoin Creator ‘Saratoshi Nagamoto’ Was Not Innovative
Things just got a bit comical in the world of cryptocurrencies!
During a recent hearing before the Financial Services Committee, U.S. Congressman Brad Sherman made a little slip of the tongue when referring to the legendary creator of Bitcoin, Satoshi Nakamoto. Brace yourselves… he called him “Saratoshi Nagamoto” instead! 🙈
Now, we all make mistakes, but this blunder didn’t go unnoticed. Dogecoin co-creator and all-around crypto maven, Billy Markus (also known as Shibetoshi Nakamoto), didn’t waste a minute in criticizing Sherman for his epic mix-up.
In response to the congressman’s error, Markus declared, “That dude has gotta go, he is not fit to hold any position of power.” Ouch! That’s putting it bluntly!
But let’s not forget, Sherman isn’t exactly a fan of cryptocurrencies. He’s been an outspoken opponent, even advocating for a ban on digital assets. During the hearing, he expressed his skepticism about the innovative nature of cryptocurrencies.
Sherman’s criticism didn’t stop there. He accused the “billionaire bros in crypto” of attempting to grab hold of that money-making machine, likening them to folks running their own personal printing presses.
Now, while we can understand his concerns about the impact of cryptocurrencies, we can’t help but wonder if he could use a crash course in crypto terminology. Maybe he needs to sit down for a lesson from Shibetoshi Nakamoto himself! 🎓
Crypto Regulations In US Is Closer Than Ever
We have a new contender in the race for the U.S. presidency, and he’s got crypto on his side. Robert Kennedy Jr., a Democrat revealed that he purchased a whopping 14 BTC in May of this year. Now, if his claims are accurate, that puts his Bitcoin treasure chest at a cool $400,000. 💥
But Kennedy isn’t the only political news making waves in the crypto world. A United States House panel recently gave its nod of approval to not just one, but TWO bills aimed at bringing regulatory clarity to the crypto industry.👏
The first bill, aptly named the Financial Innovation and Technology for the 21st Century Act, received the thumbs up from a majority of U.S. lawmakers. This legislation establishes a framework for crypto firms to determine whether they should register with the Commodity Futures Trading Commission (CFTC) or the Securities and Exchange Commission (SEC).
Now, here’s where things get even more exciting. The second bill, known as the Blockchain Regulatory Certainty Act, joins the party with the backing of both Republican and Democratic lawmakers. Sponsored by Congressman Tom Emmer and Congressman Darren Soto, this bill focuses on defining what blockchain-related entities qualify as money transmitters in the United States. 💼🔍
FEATURED: NFTs by 99-Yr Old Hungarian Artist Sell Like Hotcakes!
Hungarian artist Vera Molnár, in collaboration with Martin Grasser, has created a series of mind-bending computer-generated nonfungible tokens that had crypto enthusiasts in a frenzy. 🖌️💻
During Sotheby’s Dutch auction, the “Themes and Variations” collection from Molnár and Grasser sold out in less than one hour! 🔥 Can you believe it? Collectors couldn’t get enough of these 500 unique digital collectibles, generated through an algorithmic combination of 170 color palettes and recursive grids.
Molnár, born in Budapest in 1924, has been a true pioneer in the realm of computer-generated imagery. She’s been mastering the art since 1959, long before NFTs were even a blip on the crypto radar. From lecturing at the University de Paris to having her works showcased in major European exhibitions, Molnár has left an indelible mark on the art world. And now, she’s making her mark in the world of NFTs!
With the release of this NFT collection, Molnár’s artistic genius has captured the attention of both art enthusiasts and crypto investors alike. T
The collection has already seen over 589 ETH traded on secondary markets, with prices skyrocketing. 🚀 In fact, the floor price for the “Themes and Variations” NFTs has surged by over 100% since the sale concluded.
Meme Coin Corner
💰Dogecoin Bumps 10% on X Payments Speculation, DOGE Futures Traders Lose $10M
🚀Elon Musk Discloses Why Rebranding Twitter To X Is Crucial & Impact Of Shiba Inu Dog
🔥 Shiba Inu (SHIB) Investors Taking Profits? Billions Move on Exchanges?
THINGS TO KEEP YOUR EYES ON THIS WEEK
GTA 6 to feature cryptocurrency, new leak claims
A new leak concerning the next game in the Grand Theft Auto series – presumably called GTA 6 – suggests that it will feature support for some kind of cryptocurrency.
The British Museum Will Enter the Metaverse via ‘The Sandbox’
The British Museum will also create its own immersive space within the online game world, putting it alongside modern cultural icons like Snoop Dogg, McDonald’s, Adidas, and Gucci.
How to Create a Billion Dollar Meme Coin: Step-by-Step Tutorial
This satirical post will guide you through the process by creating PrezCoin, a coin created in preparation for the upcoming US election, showcasing my personal favorite meme, AI presidents.
Twice weekly crypto goodness, coming your way! Catch us every Tuesday and Friday. Mondays, read our All-In-One crypto newsletter. And hey, don’t forget to check us out on Wednesdays for all the latest AI news – because why limit yourself to just one kind of intelligence?
