BTC Downturn, ETH Scaling, Coinbase Listing and 20 Crypto Jokes
Welcome! Let’s do a short recap of what happened in the crypto week behind us. Coin Metrics said there’s little reason to believe that Bitcoin miners are responsible for downturns in BTC’s price, Kraken’s CEO Jesse Powell said that “extreme” ethereum selling caused Monday’s flash crash to USD 700, and almost USD 4bn in trading positions was liquidated in 24 hours, followed by another USD 1bn liquidated in one hour as a selloff in the crypto market intensified. Meanwhile, analysts said the vast majority of Ethereum miners are unlikely to protest EIP-1559, while it was said that Ethereum scaling is coming in March. Bitfinex and Tether reached a settlement of legal proceedings with the New York AOG , South Korean Gyeonggi Province announced an “intense” crackdown on crypto-flavored MLMs. Meanwhile, Craig Wright sent his lawyers against Bitcoin devs, and bitcoiners decided to strike back.
Furthermore, the central Bank of Japan is set to launch a pilot for a digital yen this spring, Coinbase aims for USD 1bn direct listing, Bill Gates distanced himself from bitcoin buying, but talked up a digital money or payments infrastructure, “more than 1 million customers” bought bitcoin “for the first time” on Cash App in January, and while Crypto.com is experiencing “accelerated growth,” expecting to reach the 100 million user mark by 2023, CRO doubled as Crypto.com said it will burn CRO 70bn in preparation for the CRO Chain Mainnet launch on March 25. Meanwhile, MoneyGram claimed its support for Ripple was still in place. We reported on the ways governments could attack Bitcoin and its owners, defeated Donald Trump-themed NFT sold for USD 6.6m, Japanese consumer watchdog warned people about sophisticated crypto scams that pry on love-hungry users via dating apps, and Chinese police warned about rising digital yuan-themed scams.
And now, your jokes. Enjoy!
Heey, CT! How’s everything going?
it be like dat tho pic.twitter.com/jFqAOBmzJY
— Meltem Demirors (@Melt_Dem) February 23, 2021
Ethereum contemporary history for beginners.
Ethereum Defi = A New Hope
CeDeFi = The Empire Strikes Back
Optimism = Return of the Jedi
— ⟠ ETH is Fᕫnny ⟠ 🏴 (@EthFunny) February 25, 2021
Ethereum getting scaled.
— Anthony Sassano | sassal.eth 🏴 (@sassal0x) February 23, 2021
Yellen can’t let ETH enjoy the ATH pic.twitter.com/JS4ZUlsUt9
— Jon Geenty (@geenty) January 19, 2021
Here you go, nocoiners and conspiracy theorists.
So much liquidation going around, something’s bound to snap.
When you get liquidated for the last time
— smilinglllama (@smilinglllama) February 23, 2021
I remember when #Bitcoin had a trillion dollar market cap like it was…