Crypto Weekly 4/04/2022 by Cryptoweekly

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CONTENTS $2 cryptoweeklymag.com April 2022 | Volume 21

French Whistleblower Frances Haugen Accuses Meta of Lying About its Value

Washington's Crypto Lobbyists Dictate Terms

Crypto Regulation: Bitcoin Mining May be Banned in New York because of Climate Concerns

Department of Justice of the United States Charges 2 in NFT 'Rug Pull' Scheme

Crypto Industry Fires Back After Eu Vote To Block ‘Unhosted’ Wallets

"Metaverse Market Could Swell to $13Trillion," Citi Says

China's Desperate Pleas to the EU to Act Independently of US Foreign Policy as it Seeks to Expand its Power Grab in Europe

Musicians Turn to NFTs in the Pursuit of New Revenue Streams

The U.K. will Soon Release Plans of Regulating the Crypto Market

Is 2022, The Year of the Cat!?!?

Ethereum's Next Big Upgrade and What it Really Means

Can Anyone Just Live Off bitcoin?

What's Happening with Google and Crypto Technology

Full Crypto Adoption Around the World is 'Unstoppable'

When Bitcoin Was Supposed to be Anonymous

The Political Movement Forming Around Crypto

Metaverse Event

What You Need to Know About DeFi

International Digital Currencies Are in Our Future

Video of the Week

Influencers and Founders of NFTs and the Metaverse, Who are Women

CryptoCompare Crypto People

CRYPTOWEEKLY CEO Nathan Hill

LETTER FROM

THE EDITOR

nathan@cryptoweeklymag.com Publisher: Colin Woolley Colin@cryptoweeklymag.com Editor: Robert Stone

Welcome to Crypto Weekly

Editor@cryptoweeklymag.com Editorial: Anthony Burton Editorial@cryptoweeklymag.com Director of Advertising and Corporate Relations: Philip Greenwood philip@cryptoweeklymag.com Design: Dilin Web: Bill Trevor

W Crypto Weekly Magazine is published by the Crypto Marketing Company 71-75 Shelton Street, Covent Garden, London, United Kingdom, WC2H 9JQ

elcome, this is the 21st issue of Crypto Weekly. Rumors of wars have laid a heavy hand on the crypto industry, much less all of us combined with pandemics and cataclysms worldwide. We all, the people, go about our days and do what we do to live our lives in peace as best we can. Why are we here? I have my reasons, and I am sure all of you have a lot of different reasons for taking part in the crypto revolution. For me, it is the power of immutable truth that crypto holds. Encoded meticulously, smart contracts and all manner of interactive applications have created a way for humans to be held accountable to the truth. All I have ever wanted in a government is honesty, and we all know as the people being imposed upon that we never get it. We never get it. But now we have it. It is in our hands, and we can use it. We should all take it because it is ours. That is why I am here. Maybe you have a different story. Being a man of the world, I have heard the stories of the ages, and all I know is this man belongs to no one but himself. We should all take that power. It is yours to have, but remember, we live in a world of free beings. We must hold all of this in certain respect honoring all who live and breathe in this world and the world itself. These are the systems that give us life. Of course, that is what we should do. Crypto Weekly will answer all of your questions. Whether you're new to crypto or have some experience, we're here to help. I hope you all have fun. Now that we have reached the end, it is time to turn the page, but let us know your thoughts. If you would like to see something featured, please get in touch with me..

editor@cryptoweeklymag.com

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NEWS

Crypto Weekly

Ethereum Reaches its Highest Level in Over a Month, Thanks to the Excitement for a Major Blockchain Upgrade An analyst says: 'It has really come a long way, and it is finally getting closer to its potential success as it moves away from proof of work.'

n Thursday, Ethereum reached its highest level since Feb. over optimism about the upcoming major upgrade, reducing the blockchain's environmental costs and lower transaction fees.

convert Ethereum from proof-of-work to proof-of-stake, is expected to be completed in the second quarter of 2022. Both proofof-work and proof-of-stake are consensus

According to CoinDesk data, Ethereum ETHUSD, -1.43% reached $3,128.5 on Thursday. In the last 24 hours, it gained 3.9% to trade at around $3,102, outpacing Bitcoin BTCUSD, -1.09%, the largest cryptocurrency, which has gained 3.6% to around $34,926.

mechanisms blockchains use to verify new transactions. Consequently, the former uses mining, which uses a large amount of computing power, while as a consequence of the latter, so-called validators contribute, or stake, their cryptocurrencies. Ethereum and Bitcoin both use proof-of-work blockchains. Ethereum's upgrade is "very exciting" since it has "been seen by a lot of investors," Eliézer Ndinga, head of research at crypto asset-management company 21Shares, said in a phone interview. "It has really come a long way and is finally getting closer to its potential success to move away from proof of work," Ndinga said.

Earlier this week, Ethereum Foundation, a non-profit that supports the blockchain, said the "Merge" upgrade, which will

NFT Museum of War Launched by Ukraine for Crypto Crowdfunding

n Friday, Ukraine began auctioning off a collection of non-fungible tokens (NFTs) as part of a cryptocurrency fundraising initiative that has already brought in more than $65 million. Images in this collection include silhouettes of warplanes, screen grabs of news reports, and a cartoon-style image of an explosion, each representing a different day during the conflict. Three days after Russia launched its invasion, dubbed a "special military operation" by Moscow, Ukraine's Ministry of Digital Transformation began seeking donations in digital tokens such as Bitcoin and Ether. In a message on the collection's website, the aim of the new NFT series is to "spread truthful information around the world and

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collect donations to support Ukraine." In recent years, the popularity of non-fungible tokens has exploded. Digital files like images, videos, and texts are tracked using the technology behind Bitcoin. This month, Ukraine's deputy minister of digital transformation, Alex Bornyakov, said on Twitter that the country has purchased

supplies for its military with its crypto donations, including bulletproof vests, helmets, lunches and medicines. Cryptocurrencies like Ether are used to buy NFTs. NFTs from Ukraine will initially cost 0.15 Ether, or just over $475. According to the website, funds will be transferred directly to Kyiv's digital crypto wallets. Many observers have been baffled by the explosive growth in the sales of NFTs. Why are people spending so much money on items that don't exist? In recent months, these tokens have become a popular fundraising tool as groups pool crypto funds to buy NFTs for a particular cause.

April 2022 | Volume 21

NEWS Crypto Weekly

French Whistleblower

Frances Haugen Accuses Meta of Lying About its Value

eta CEO, Mark Zuckerberg, announced new plans for the company's move toward the Metaverse on Tuesday, introducing company values like "live in the future" and calling employees "metamates." Although Meta's stock rose on Tuesday, it remains 31% below where it stood following the release of disappointing earnings at the beginning of the month. Observers on Wall Street and Silicon Valley attribute the abrupt collapse to sluggish user growth, the uncertain Metaverse bet, and new Apple (AAPL) privacy settings limiting targeted advertising's effectiveness. Whistleblower Frances Haugen, however, says the stock decline owes to a deeper main reason: lies she says the company told about its products.

April 2022 | Volume 21

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NEWS

Crypto Weekly

A former Meta product manager who left the company last year and leaked thousands of internal documents says the stock price drop is caused by inaccurate public statements made by the company. “When Facebook misleads people about the company's worth - and when it lies about material issues, it lies about it," she says. "People get hurt. People's retirements get wiped out," she adds. "People got deeply hurt by this stuff." Frances Haugen, former Facebook employee, and critic, responded to questions during a congressional hearing on Capitol Hill in Washington, D.C., December 1, 2021. According to the SEC complaint filed by Haugen in October, the company misled investors with public statements that contradicted its internal research. She says that the emotional side is often overlooked, and we forget that these are real people's lives. In the aftermath of Hagen's deposition, a series of explosive reports was released, dubbed the "Facebook Files," revealing

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Facebook's internal knowledge of topics like the negative impact of social media on young girls' mental health, the prevalence of vaccine-related misinformation on Facebook, and how the social network is used to traffic vulnerable domestic workers. “Most of us are unaware that a false picture of our company is being painted," Haugen said. “The company is evading accountability by ignoring the concerns of users and critics.” Meta did not immediately respond to Haugen's recent remarks. According to the original Facebook leaks, Facebook CEO, Mark Zuckerberg wrote: "We care deeply about safety, well-being, and mental health. It's hard to see coverage that misrepresents our work and our motivations. Facebook knows that activists can always deny Facebook's existence regardless of what activists say."

came out and said, "I first raised this issue five years ago." As Meta says, "This is just anecdotal. It's not a real trend. It's not a problem. But the documents show they knew it was." 

Haugen said critics who had raised similar concerns with the company since the "Facebook Files" release last fall contacted her. Haugen says activists repeatedly reached out to him [Zuckerberg] after he

April 2022 | Volume 21

NEWS Crypto Weekly

Washington's Crypto Lobbyists Dictate Terms April 2022 | Volume 21

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NEWS

Crypto Weekly

described as digital assets for others. As opposed to Bitcoin (BTC-USD), Ethereum's (ETH-USD) blockchain can be harder to categorize as a currency versus a store of value. The U.S. government has been slow to establish a robust regulatory framework that would guarantee U.S. government agencies authority over digital assets due to confusion over what digital assets are and a lack of understanding of blockchain technology. According to Hanke, a former Reagan administration senior economist, “It should be regulated as one, if it walks and quacks like a duck.” Bitfury's CEO, Brian Brooks, has echoed Hanke's call for immediate regulation of the cryptocurrency sector. In a Congressional hearing on 8 December, Brooks was asked for his opinion on cryptocurrency regulation. Regulatory agencies are reluctant to define a framework for the sector because "crypto scares people. Maybe it's just the fact that it's so new."

ccording to leading economist Steve Hanke, cryptocurrency companies are spending "hundreds of millions of dollars" on lobbyists in Washington to secure favorable regulatory terms. A new trade association known as the Crypto Council for Innovation has been formed by crypto firms like Fidelity, Square, and Coinbase to promote the benefits of crypto. There is no comprehensive regulatory framework for stablecoins and cryptocurrencies in Washington. Hanke said, “Crypto-lobbyists are stepping up their efforts due to this indecision.” With only a decade under its belt, the cryptocurrency market now has a value of over $3tn (£2tn). It has proven difficult to regulate this rapidly growing sector as each indexed listing may require a different definition depending on its use. Many economists and experts disagree with this definition and consider them tokens, but they may be better

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It seems that government officials and cryptocurrency firms have a pattern of association. Brooks has stepped down from his regulatory role as U.S. Acting Comptroller of the Currency in his new role as Bitfury's CEO. According to Hanke, “U.S. government officials leapfrog to lucrative positions in the crypto-ecosystem. There is a revolving door for all persons in high office who are close to securities banking and land very lucrative jobs within the crypto ecosystem." Former CFTC Commissioner, Brian Quintenz, has been hired by Andreessen Horowitz, an investor in crypto-startups. Fireblocks, a multi-billion dollar crypto custodian, hired Jay Clayton, the former head of the Securities and Exchange Commission, in August. Philip Hammond, former chancellor of the U.K., has joined crypto-assets firm Copper. “The crypto-lobbyists in Washington have "massive lobbying power" because major centralized cryptocurrency exchanges and blockchain companies are financing the disruptive changes promised by Web 3.0,” Hanke said. Hanke, co-director of the Johns Hopkins University Institute for Applied Economics, said, “The best way to combat cryptocurrency lobbyists is to regulate

banks and digital banks. Crypto companies want special regulations; they want to rig the market." Hanke, however, emphasized that the markets don't advertise. He faulted cryptocurrency developers for overpromising their products, stating that consumers would "save their purchasing power forever" if they adopted unregulated products due to a lack of regulation on the market. SEC chairman, Gary Gensler, urged cryptocurrency platform leaders to "talk to the SEC" in early December amid an increase in fraudulent activity. Gensler expressed concerns about the crypto market's significant gaps in investor protection during his speech before the Investor Advisory Committee. Cryptocurrency companies are becoming increasingly concerned about an onslaught of crippling regulations from US regulators. FTX derivatives exchange has preempted a possible crackdown by announcing a set of 10 principles to guide regulators in creating the inevitable framework. Co-founder of First Digital Trust (FDT), Gunnar Jaerv, said: "Gensler's suggestion for crypto companies to openly discuss regulations with regulators is a positive step, but it's imperative to keep in mind that most regulation frameworks in place today are vague." Due to a lack of consistent regulation, FTX's Key Principles emphasize that greater consistency will help companies gain clarity and nations access opportunities for more significant economic growth. U.S. regulators could drive innovation elsewhere globally where frameworks are more lenient and beneficial to the business if they impose draconian measures on the burgeoning cryptocurrency sector. During the congressional hearing, U.S. Republican Congressman, Patrick T McHenry of North Carolina, spoke against overly restrictive and hasty regulation. In McHenry's words, "We don't need knee-jerk reactions by legislators who regulate out of fear of the unknown rather than seeking to understand. Fear of the unknown and the move toward regulation before understanding will only stifle American innovation and undermine our competitiveness." 

April 2022 | Volume 21

NEWS Crypto Weekly

Crypto Regulation: Bitcoin Mining May be Banned in New York because of Climate Concerns

o avoid the negative environmental impacts of cryptocurrency mining operations, the Environmental Conservation Committee of the New York State Assembly has advanced a bill that would impose a two-year moratorium. According to the legislation, cryptocurrency mining operations using proof-of-work authentication methods to verify blockchain transactions are an expanding industry in New York. In New York state, proof-ofwork authentication methods to validate blockchain transactions will dramatically increase energy consumption and impact

April 2022 | Volume 21

compliance with the Climate Leadership and Community Protection Act. Bitcoin has been facing tremendous criticism about its carbon footprint. According to the Cambridge Center for Alternative Finance (CCAF), Bitcoin currently consumes around 110 Terawatt Hours per year — 0.55% of global electricity production. Under the 2019 Climate Leadership and Community, the state addressed climate change's current, and future, impacts by reducing greenhouse gas emissions by 85% by 2050 and achieving net-zero emissions

in all economic sectors. MicroStrategy CEO, Michael Saylor, a mega Bitcoin bull, tweeted a "Stop: NY Bitcoin Ban" petition opposing the bill, saying, "If New York politicians wish to discourage the use of fossil fuels, they should implement laws that don't discriminate against any individual, company, or industry." This bill may set a precedent for states to make the same mistake, the petition claims. "If passed, New York will forfeit the unique opportunities for economic growth and the proliferation of renewable energy that Bitcoin mining represents," it reads. 

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Crypto Weekly

Department of Justice of the United States Charges 2 in NFT 'Rug Pull' Scheme

rosecutors in the Southern District of New York have charged two men with money laundering and wire fraud in connection with the "Frosties" non-fungible token (NFT) project, an infamous scam whose Discord server disappeared hours after mint. For the first time, U.S. law enforcement has prosecuted an alleged NFT "rug pull.”

victims, shutting down the website almost immediately and transferring the money.” According to HSI special agent Ricky J. Patel, the arrested thieves used online identities that promised investors rewards, giveaways, and exclusive opportunities before implementing their 'rug pull' schemes -

leaving investors with empty pockets and no legitimate investments. “HSI New York's Dark Web & Cryptocurrency Task Force worked closely with our IRS-CI partners to identify and shut down these fraudsters as they prepared to launch the sale of yet another NFT project that would have likely scammed countless others." 

Frosties' pseudonymous backers, Ethan Nguyen and Andre Llacuna, allegedly stole over $1 million from their NFT investors. Criminal conspiracy and financial crime charges have been filed against them, making them among the first criminal NFT defendants in the rug-pull era. In a press release, U.S. Attorney Damian Williams said, “Mr. Nguyen and Mr. Llacuna promised investors the benefits of the Frosties NFTs. Still, when they sold out, they pulled the rug out from under the

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April 2022 | Volume 21

NEWS Crypto Weekly

REGULATION:

Crypto Industry Fires Back After Eu Vote To Block ‘Unhosted’ Wallets

“Imagine if the EU required your bank to report you to the authorities every time you paid your rent merely because the transaction was over 1,000 euros,” said Coinbase CEO Brian Armstrong. The crypto industry has reacted strongly against a European Union Parliament committee voting in favour of a regulatory package for tighter Know Your Customer (KYC) and Anti-Money Laundering (AML) rules for ”unhosted” private wallets. The new guidelines would require crypto service providers — most common exchanges — to verify the identity of every individual behind an unhosted wallet that interacts with them, while any transaction greater than 1,000 euros, or $1,100, would need to be reported to authorities. Coinbase CEO Brian Armstrong vented his frustrations against the move via Twitter, drawing comparisons with fiat to highlight

April 2022 | Volume 21

the absurdity of reporting and verifying a 1,000 euro transaction: “Imagine if the EU required your bank to report you to the authorities every time you paid your rent merely because the transaction was over 1,000 euros. Or if you sent money to your cousin to help with groceries, the EU required your bank to collect and verify private information about your cousin before allowing you to send the funds.” “How could the bank even comply? The banks would push back. That’s what we are doing now,” he added.

European ‘MiCA’ regulation on digital assets: Where do we stand? Unstoppable Finance’s head of strategy and business development Patrick Hansen also took to Twitter to vent his anger, calling the proposals a “big disappointment and a big threat to individual privacy.” “It introduces

unfeasible wallet verification requirements and unjustifiable reporting requirements for crypto companies that would have massively detrimental effects for EU citizens and companies alike.” He noted it would be difficult, if not impossible, for crypto service providers to verify an “unhosted” counterpart and warned that to stay compliant and not compromise their legal position, some companies might want to cut off transactions with unhosted wallets altogether. Others, smaller ones, might find the potential operational costs of compliance too expensive, leaving it to the bigger established players, which would cause a further market consolidation. However, Hansen also noted that he holds optimism that the rules could be at least watered down in the trialogue negotiations, as “some Commission/Council members have voiced criticism” about the regulations. 

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FINTECH:

SEC Denies ARK 21Shares ETF Application! wave across Crypto C-suite and law firms alike whilst they plan their next move. In a Thursday filing, the SEC rejected a proposed rule change from the Chicago Board Options Exchange, or Cboe, BZX Exchange to list and trade shares of the ARK 21Shares Bitcoin (BTC) ETF. The SEC said the proposed rule change, originally published for comment in the Federal Register in August 2021, would not be “‘designed to prevent fraudulent and manipulative acts and practices” nor “protect investors and the public interest.”

21Shares submitted the spot Bitcoin ETF application with Ark Investment Management in June 2021 for listing on the Cboe BZX Exchange. The SEC has officially disapproved the application for the ARK 21Shares Bitcoin exchange-traded fund (ETF). Sending shock

To date, the SEC has not approved any spot crypto ETF application for listing shares in the United States but has given the green light to investment vehicles linked to BTC futures, including offerings from ProShares, VanEck and Valkyrie. As of October 2021, 21Shares was one of the largest institutional crypto product issuers, with more than $2 billion in assets under management reported. 

Crypto Pundits Gather Online to Discuss Innovation and National Security did. He spoke of the process as letting “a thousand flowers bloom.” Zarate spoke of using blockchain technologies “to challenge U.S. adversaries.” It will be possible, Zarate said, to reinforce U.S. capital markets and the role of the dollar “if we have a say and a hand in how” the technology is developed. He mentioned, in particular, the use of dollar-denominated stablecoin to the nation’s advantage.

The George Mason University Antonin Scalia Law School National Security Institute hosted a webinar on Wednesday, March 30, titled “Crypto and National Security: How to Validate American Innovation and Verify U.S. National Security.” Journalist Laura Shin moderated the discussion. CEO of the Crypto Council for Innovation Sheila Warren, executive director of Coin Center Jerry Brito, and global managing partner and chief strategy officer of risk compliance and monitoring firm K2 Integrity Juan Zarate were participants. After opening comments, the first of three questions posed to the panel concerned American innovation. Brito expressed hope that crypto would be allowed to develop with open access like the Internet

April 2022 | Volume 21

The second question concerned regulation. Zarate bemoaned the “shoehorning” approach to crypto regulation, which is based on agencies’ purviews rather than the nature of crypto, while Brito spoke in favor of principle-based regulations. Brito criticized the IRS for being a regulatory “laggard.” Warren spoke about incentivization and risk, and Zarate rejoined the discussion to say that absolutism — the unwillingness to accept any risk of bad action — is “not how the financial world deals with risk.” The discussion of the digital yuan proved to be the liveliest, with Brito and Warren sharing their very different perspectives. Brito argued that “a digital yuan is still a yuan, and nobody wants to hold yuan.” The Belt and Road Initiative, he said, would not change the attitude toward the Chinese currency. But a “bearer-private” digital dollar could “dollarize the Internet overnight” and “cement dollar dominance in the world,” Brito said. Warren saw a greater threat from the Chinese debt trap for developing countries, which could result in the forced adoption of the digital yuan. 

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NEWS

Crypto Weekly

Metaverse Market Could Swell to $13Trillion," Citi Says

Citi is just the latest banking giant to call the Metaverse and web3 a trillion-dollar opportunity Citi is the latest Wall Street player to issue a bullish forecast for web3 and the Metaverse, which describe a future vision for the internet built around decentralised technologies and virtual worlds. The Metaverse economy could be an $8 trillion to $13 trillion total addressable market by 2030, Citi said in a research report published 31 March. The bank’s definition of the Metaverse goes beyond sticking to virtual worlds, like gaming and applications in virtual reality. Citi’s broad vision of the Metaverse includes smart manufacturing technology, virtual advertising, online events like concerts, as well as digital forms of money such as cryptocurrencies like Bitcoin. "Under this umbrella, the Metaverse could see 5 billion unique internet visitors by the end of the decade, driving trillions of dollars in revenue in this next-generation of the internet," the bank said. Citi is just the latest banking giant to call the Metaverse and web3 a trillion-dollar opportunity. In research published in December, Goldman Sachs put a $12.5 trillion number on the space, in a bullish

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outlook that assumed one-third of the digital economy shifts into virtual worlds and then expands by 25%. Bullish forecasts from Citi and others come even as investments tied to the Metaverse have underperformed of late. A huge amount of money already has flowed to companies addressing the space, meaning some of the growth is already baked into equity prices. Chipmaker Nvidia’s plans for the “omniverse,” which is its vision of the Metaverse including industrial applications and innovations in artificial intelligence, remain a key part of analysts’ optimistic outlook for the stock. Nvidia, which has a market capitalisation of more than $700 billion, has seen its share price jump 110% over the past year. Nevertheless, many view Nvidia as an attractive investment for other reasons; analysts continue to underscore the strength of a core business that sells computer chips for applications in gaming and high-powered data centers. Indeed, more pure Metaverse plays have been far less fortunate. Roblox (RBLX), a video game company that is a platform for

building and experiencing virtual worlds, has seen its stock price plummet by 27% across the last year. The damage is much the same in exchange-traded funds tracking the space. The Defiance Digital Revolution ETF is down 29% since it launched less than four months ago. The Roundhill Ball Metaverse ETF has lost 19% since it launched last July. “Despite heightened investor interest, average Metaverse ETF performance has been poor YTD reflecting a concept fast approaching the peak of inflated expectations on its hype cycle,” a group of strategists at JPMorgan Chase wote in a report last week. They added that due diligence in ETF investing was crucial, as Metaverse-labeled ETFs can range from anything in the tech space from gaming to cybersecurity. Indeed, as Barron’s has reported, Metaverse ETFs are in essence side-bets on the tech-heavy Nasdaq Composite index. And, as Barron’s has reported, tech stocks continue to face headwinds. The Dow Jones Industrial Average has declined 4% so far this year; by comparison, the Nasdaq has fallen 9%, and remains in correction territory, down more than 10% from its recent high in November. 

April 2022 | Volume 21

NEWS Crypto Weekly

China's Desperate Pleas to the EU to Act Independently of US Foreign Policy as it Seeks to Expand its Power Grab in Europe Li Keqiang insisted Beijing was working towards a peaceful resolution of the crisis in “its own way.” In the run-up to Friday’s summit, Wang Yi, China’s foreign minister, told his Russian counterpart, “the Ukrainian issue was the result of “the long-term accumulation of security conflicts in Europe” as well as a “cold war mentality and group confrontation.” Wang hosted Sergei Lavrov on the sidelines of a regional security meeting about Afghanistan on Wednesday, their first inperson discussion since the war in Ukraine began in late February.

Beijing and Brussels clash over Russia’s invasion of Ukraine as Xi Jinping uses cold war mentality ‘tropes’ to muscle into EU life further. Xi Jinping has called on the EU to act more independently of the US as China and Brussels clashed over Russia’s invasion of Ukraine and the bloc’s leaders warned Beijing not to aid Moscow’s war effort. China’s president called on the EU “to pursue an independent policy towards China” — a thinly veiled criticism of European solidarity with the US in blaming Russia for the crisis and in hitting Vladimir Putin’s regime with sanctions. Speaking after video meetings that exposed widening divisions between the two powers, Charles Michel, the European Council president, said China could not “turn a blind eye” to Russian aggression against Ukraine. Ursula von der Leyen, European Commission president, admitted the two sides had exchanged “clearly opposing views.” Anything China did that supported Russia’s ability to wage war would do “major reputational damage” to the country in

April 2022 | Volume 21

Europe, von der Leyen warned. “China has an influence on Russia and therefore we expect China to take its responsibility to help bring a peaceful resolution of the conflict,” she said. Xi, however, refused to budge from his position that the US and EU had adopted what Chinese diplomats call a “cold war mentality” over the crisis in Ukraine. While Xi’s diplomats insist China is a neutral party on Ukraine, they and Chinese state media have repeatedly endorsed Russia’s justifications for the invasion and blamed the US and Nato expansion for stoking conflict. According to the official Xinhua news agency, Xi said “regional security conflicts” in Europe were the “root cause” of the Ukraine crisis. Xi “did not condemn, but also did not defend” Putin’s invasion, according to a person present during the video call, adding that the Chinese president ignored a direct question from Michel as to whether he supported the invasion. Instead, Xi referred to the importance of understanding Russia’s “security concerns in Europe,” the person said. In a separate video call with the EU duo, Chinese premier

In early February, Xi and Putin said there were “no limits” to their friendship. But analysts say the threat of secondary western sanctions has stopped China from offering significant support to the struggling Russian economy. “So far, China has not helped Russia offset the cost of sanctions because it doesn’t want to trigger secondary sanctions or become more entangled in the unstable Russian economy,” said Francesca Ghiretti, an EU-China analyst at the Mercator Institute for China Studies, a German think-tank. “Beijing wants to avoid any more economic pain on top of the pandemic lockdowns and global inflationary pressures,” she added. China’s trade with the EU was worth €1.9bn a day, compared with €330mn daily with Russia, von der Leyen said, suggesting Beijing’s attitude to the war could threaten that flow. Ukraine was a “defining moment for our relationship with the rest of the world,” she said. China has no place in European business any more than the EU has in China's internal affairs, save human rights abuses, for which China is widely known for. Perhaps China should focus on higher moral human values instead of the constant rollout of the totalitarian ideology it so desperately seeks and encourages other governments and political blocks to adopt. 

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Crypto Weekly

Musicians Turn to NFTs in the Pursuit of New Revenue Streams

DJ Justin Blau was opening up for his superstar peer Avicii on a beach in Mexico when he met the Winklevoss twins, who introduced him to Bitcoin. “It could not get more cliché than that,” he says of his 2014 meeting with the Harvard classmates of Mark Zuckerberg, who have since become blockchain evangelists.

In recent months, the hype surrounding Web3 – the buzzword for a decentralized, blockchain-powered iteration of the internet – has swept the music industry, drawing the world’s largest music companies to the fray and fuelling hope that non-fungible tokens will become a new source of money for musicians.

As a university student, Blau dropped his finance studies and turned down an internship at asset manager BlackRock to pursue a DJ career. Years later, he has combined his dual interests – music and finance – into a business aimed at disrupting the record industry through blockchain technology. On Tuesday he teamed up with longtime friend Diplo, the popular electronic musician, to sell 20 percent of the streaming royalties of a song to fans in the form of digital tokens.

To sell an NFT, musicians assign their song, video, or other piece of media to a digital token. The token is sold through an online auction enabled by blockchain technology, which keeps a record of the transaction. Beyond songs or images, NFTs could also be used to sell perks such as backstage passes or meetings with stars.

“I’m just fascinated with the idea of there being value for the ownership of music,” Thomas Pentz, known professionally as Diplo, told the Financial Times. “The more people behind your record, whether its fans or investors who are interested in the technology, it’s great to have more people on a team.”

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Head-spinning examples abound. Rapper, Snoop, Dogg, in February sold an NFT attached to Bacc on Death Row, his latest album, that reportedly generated more than $40mn in sales in just five days. DJ Steve Aoki, claims he has made more money through NFTs than he did from a decade’s worth of advances from record labels. “Some of these valuations are out of control. As an investor, I’m seeing a lot of it and have to laugh occasionally,” said a senior

executive at a major music label. But after getting knocked over by the internet via the advent of file-sharing company Napster two decades ago, the big music companies are looking to get ahead of technological change this time around, making them willing participants in the market. Universal Music, the group behind Taylor Swift and Drake, has struck partnerships to create NFTs for its artists – including a virtual band featuring characters from the Bored Ape Yacht Club – as have rivals Sony and Warner. After spending more than half a billion dollars buying the copyrights to Bob Dylan’s songbook, Universal and Sony are now working with the musician to sell Bob Dylan NFTs. Spotify has been drawing up plans to add blockchain technology and nonfungible tokens to its streaming service, the FT reported earlier this month. “There’s been a lot of waxing and waning of irrational exuberance around this space,” said Jonathan Dworkin, senior vice president of digital strategy at Universal. “As the smoke now starts to clear, there’s some really interesting opportunities. . . there’s a

April 2022 | Volume 21

NEWS Crypto Weekly

real revenue opportunity,” he said, pointing to the ways tokens can directly connect fans with artists. But so far, most participants in music NFTs are crypto enthusiasts rather than ordinary fans, and the market is tiny – taking in just $83mn in primary sales last year, according to industry blog Water & Music. There are plenty of sceptics. “It feels like the music industry is desperately trying to find a way to insert itself into NFTs without actually thinking: what is the underlying use case?” said Mark Mulligan, an analyst at Midia Research. Mulligan argued it is hypocritical of musicians to sell streaming royalties to fans, after years of complaints about the minuscule payments artists themselves receive in streaming royalties. “If you sell someone a fraction of that fraction, and charge them a lot of money for it because it’s an NFT, I’m not sure how it would be a valid investment.” Diplo maintained it is a good investment for music lovers. “For a fan, what you can do is buy merch, you can buy tickets for a concert. . . but really, this is what you’re a fan for. You’re a fan because of the music.” Most of the $17.7bn worth of NFTs traded last year were for visual art, games, and

April 2022 | Volume 21

collectables, according to market tracker Nonfungible.com. While the NFT market itself has shown signs of slowing with daily trading volumes on OpenSea, the biggest marketplace for NFTs, falling since the start of the year, some people view music as a space ripe to break out this year.

My Love,” the first single from his recently released album. For $999, you receive 0.05 percent of the royalty rights, as well as an “exclusive DJ mix,” while $ 9,999 gives you 0.7 percent of the royalties and a meeting with Diplo at a concert. These tokens do not equate to owning the copyrights to songs.

Royal, Blau’s company, is among the most prominent of a crop of music blockchain startups that aim to revolutionize the industry. Through Blau’s personal connections – and Silicon Valley optimism around blockchain – Royal secured $55mn from investors, including Andreessen Horowitz and Peter Thiel, without ever making a pitchbook. Blau, who last February sold $12mn in NFTs attached to his songs, wants to scale that into a business through which ordinary fans can own music, “as opposed to just record labels, private equity and hedge funds.”

Asked whether this is a good investment for fans, Blau said that there is an emotional attachment to the ownership, as well as the possibility of betting on the success of an artist before they become a star. “In real estate. . . if you own a single-family home there’s the rental income and then there’s the actual asset appreciation, right? ” he argued.

Digital music token by the numbers $ 99 = 0.004% of streaming royalty rights $ 999 = 0.05% of streaming royalty rights plus more music $ 9,999 = 0.7% of streaming royalty rights and a meeting with Diplo Royal’s project with Diplo, for example, offers fans the option of paying $ 99 for a token representing 0.004 per cent of the streaming royalty rights to “Don’t Forget

Another longtime music label executive said that some of these projects “have not hit because people are concerned about the exploitative nature,” referring to the questionable investment value of streaming royalties. “There’s a lot of detractors that say: there are only certain types that are doing this and consequently driving up the price of NFTs, but, I do not think we can discount that technology is evolving,” the executive added. “We’ve been in playlist land for the past decade. I think that blockchain tokens are going to be fundamental to our world in 10 years, and anyone that says that’s not true is not looking back on history.” 

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own stablecoin, the Gemini dollar. Among regulators, stablecoins have raised concerns, particularly regarding misrepresentation of the assets backing these coins. If investors sold their holdings en masse, that could cause problems, so they have become the center of regulatory discussion.

The U.K. will Soon Release Plans of Regulating the Crypto Market

efore releasing its crypto regulations, the U.K. plans to talk to industry players such as cryptocurrency exchange Gemini, CNBC reports. The U.K. Treasury will focus on stablecoins specifically in its regulatory framework, according to people with knowledge of the issue. A Treasury official told CNBC that Treasury officials had shown an interest in understanding the crypto market and stablecoins, digital assets deriving their value from the dollar. The report said that the U.K.'s finance minister, Chancellor Rishi Sunak, is expected to announce the new rules for the crypto market soon. They are likely to be favorable to the industry. The Treasury declined to comment in response to a request from Crypto Weekly. During the past 18 months, crypto markets have boomed. The leading digital currencies, Bitcoin and Ethereum, recorded all-time highs during this period, though both have since fallen back in value. Offshoots, like NFTs and DeFi protocols, were also popular

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during this period. In recent months, stablecoins -- digital currencies pegged to assets such as the U.S. dollar -- have experienced a significant increase in usage as a stable investment compared to other more volatile cryptocurrencies. This has resulted in governments and regulators scrambling to understand and monitor the industry. While some nations, such as China, have banned crypto activities outright, others are looking to understand and regulate the industry.

Stablecoins can be tied to anything from gold to oil to protect them against price swings seen with other cryptocurrencies. The most popular stablecoins are pegged to government-issued currencies - dollarpegged tether, for example, is the world's third-largest cryptocurrency by market value, according to CoinMarketCap. For a stablecoin to hold onto its value, the issuer must maintain reserves of the underlying asset. The tether coin always has $1 in its reserves, so holders will always be able to exchange their tether coin for $1. Banks and other institutions have become increasingly interested in entering the crypto markets, and transparent regulation is seen as necessary before they can dive in more deeply. As part of its first regulatory framework for cryptocurrency assets, the Bank of England noted this interest. A June 3 deadline has been set for banks to explain their crypto plans, and regulators are likely to require new powers. The Deputy Governor of the Bank of England, Sam Woods, wrote that a discussion is ongoing internationally regarding the treatment of stablecoins. His office will consult with companies and trade associations. 

The U.K. has, so far, fallen into the latter group, as it looks to work with the crypto industry to mitigate risks and facilitate a safe environment for investors. One focus is the potential use of cryptocurrencies in money laundering and other criminal activity, while Russian oligarchs attempt to use cryptocurrency to bypass sanctions over Ukraine is another concern. CNBC reports that the U.K. government has consulted with several companies and trade groups, including the Winklevoss twins' exchange, Gemini, which issues its

April 2022 | Volume 21

FEATURE Crypto Weekly

Is 2022,

The Year of the Cat!?!?

In retrospect, it’s hard to say why most of the meme coins we are still seeing are mostly canine-related, such a question might be better left alone for meow.

Catcoin is the cat of Satoshis Nakamoto as conceptualised by Miaoshi Nekomoto and launched just over 5 months ago on November 26th 2021.

What is fair to say is that with the established dominance of canine meme coins, it comes as no real surprise we now see a coin of the feline variety finally scratching at our door. In fact, if we really think about it, the only surprise is that we haven’t seen any cat coins before!

It is a community-driven and owned project that connects the cat lovers of crypto and the wider world via social media. This creates a network of connecting cat coin lovers and holders from all over, an approving space for all these catcoin-friendly holders, and their feline-loving ideas to flow. Let's face it, there are plenty of people who love cats, Crypto Weekly included! So, just maybe, it's time to suit up because this cat clearly has its sights on the Moon.

OK, so now we have the Catcoin at the front door, should we let them in and give them a feed from our BNB pouch? Let's take a look at the facts and decide for ourselves whether we should feed the cat or send it to an unfriendly shaped Shibu and Doge shaped dog house, You decide! Ok Catcoin, its a coin based on cats, we get it, but tell us more!...

April 2022 | Volume 21

Sounds good, but what does communityowned mean? Miaoshi Nekomoto renounced her ownership of Catcoin, leaving it entirely in the hands, and ownership, of the

community and left the liquidity locked in there permanently. Now we don't think that's catty at all! Like most meme coins, it is a decentralised token. It launched on November 26th, and was amongst the top gainers on Coinmarketcap and Coingecko. Catcoin redistributes a 2% fee of each transaction (sell/buy) to Catcoin holders in $CATS tokens. This means that holders can earn more and more by holding Catcoin in their wallets. In addition, Catcoin develops applications that provide the community with various tools and simplify the crypto world for new investors. Cat coin is more than a token, it's an awakening of cat lovers globally that are looking for an investment that has more going for it than just a catchy name. 

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CATCOIN SELLS ENTIRE NFT COLLECTION OF 1,234 IN 1 HOUR! The “Cat Coin Yacht Club” NFT collection of 1,234 different variations of beloved cat images, sold out in an hour. If you think that’s impressive, their “Cat Club” NFT collection of the same amount, 1,234, sold out in 12 minutes!

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April 2022 | Volume 21

FEATURE Crypto Weekly

Varying rarities, and design implements, each Cat Coin NFT is unique and becoming increasingly more popular. The highest listing price for the top Cat Coin Club NFTs is 10B BNB! Yes, you read that right. 10 BILLION BNB, which makes the listing price over $4 Trillion U.S. dollars! Of course, you can buy a more nibble-size priced NFT, from the Cat Coin Club, starting at 0.2499 BNB.

you can also find Catcoin on MEXC, who saw the pawtential of $CATS, and agreed to list them for free. It doesn't take much of a genius to realise this project has legs, four of them in fact. In a few short months, Catcoin has managed to pass a TechRate audit (which you can find below), be completely community-owned and driven (functioning extremely well), get listed on serious exchanges (proof of the well functioning community), with more exchanges on their radar.

Launched on the Binance Smart Chain on November 26, 2021, by Satoshi Nakamoto’s cat, Miaoshi Nekomoto, Catcoin has attracted some 41,000+ holders, pushing it close to a $16 million market cap. A renounced contract makes Catcoin a 100% community-driven project. Locked liquidity, a stellar TechRate audit, and a purrfect 100/100 Token Sniffer score, gives $CATS lovers a pawsitive outlook on a secure future. Catcoin launched with a total supply of 1 quintillion and carries a 2% buy tax, and a 1.7% sell tax, all of which is paid directly back to the holders as reflections. Since its launch, 4 months ago, Catcoin has strategically clawed through the phases of its roadmap, with no sign of slowing up anytime soon. $CATS has been listed on multiple exchanges including CoinTiger, Azbit, LBank, Pancakeswap, BKEX, and DoDo. As of April 4th,

Catcoin launched with a total supply of 1 quintillion and carries a 2% buy tax, and a 1.7% sell tax, all of which is paid directly back to the holders as reflections.

April 2022 | Volume 21

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With such a low tax, and no separate marketing wallet allocation, how does Catcoin fund project development, marketing & expenses?

The answer is simple. They have an amazing community. Being a community-driven project, the community will donate portions of their $CATS tokens, to help fund the project's varying requirements. This shows the strength of the community and leadership team of Catcoin. With Community donations of $1 a day, and with a holder count of almost 42k, there is no need for a separate marketing wallet. Catcoin rewards 100% of the taxes each transaction collects, back to the holders

and keeps them involved in every step of this project's growth. The Catcoin clowder is the project. Shout out to CATCoin army!!! @CatCoin_ Army Catcoin, with its strong concept and easyto-love brand, along with its stable and growing support base, coupled with a smart contract and locked liquidity are just some of the forces at work that propel the

coin and its cat-aclysmic movement we’re seeing now. Catcoin gives back, with further goals of donations (set at $50k and $100k) to animal shelters. Future development plans to create a Catcoin Swap, a Catcoin Combat Crypto game, and a Catcoin Metaverse multiplayer game, give plenty oppurrtunities for sustainable growth, and the time to get involved is right… ‘meow’. 

catcoin2022

catcoinbsc

catcoin_bsc

catcoinbsc

CatCoinBSC

catcoinarmy

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FEATURE

Crypto Weekly

FACT SHEET: Coin Name

Cat Coin

Project website

catcoincrypto.me

Supply

1,000,000,000,000,000

Circulating-Supply

997,949,596,471,158 (99%)

Burnt

2,050,403,528,842 (0.1%)

Market Cap

15.9 Million USD

Holders

42,101

Listed Exchanges

Blockchain

Binance smart chain

Inception date

Nov-26-2021

Audited

Yes

Reflection to Holders

2% buy and 1.7% sell tax, this tax is paid to the holders of CatCoin automatically.

CoinMarketCap ranking is #2957

CoinTiger, BKEX, LBank, PancakeSwap (V2), DODO (BSC), MEXC

AUDIT DETAILS Please Click here

Smart Contract Security Audit

TechRate December, 2021

April 2022 | Volume 21

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Crypto Weekly

stake model. To validate transactions and create new coins, Ethereum is currently based on what is known as proof-of-work, which requires miners to solve complex puzzles. Computer power is required for this process, and it is often criticized for its environmental impact. With the planned upgrade, Ethereum will switch to proof-of-stake, which would allow users to validate transactions according to how many coins they stake. For the validation of transactions on the network, users can earn rewards by staking more coins. Ethereum will undergo a proof-of-stake transition as a result of the Merge, according to David Lawant, director of research at Bitwise Asset Management. A crypto network must decide how it decides who gets to propose new blocks of transactions that will be validated and added to the blockchain by all participants.

espite reports that the world's most popular blockchain is in the midst of a massive upgrade that will change its infrastructure and make it more energy-efficient, some misconceptions are circulating that investors should be aware of. With the "merge," Ethereum plans to move from a proof-of-work to a proof-of-stake model (more on that later). By merging, Ethereum will become more scalable, secure, and sustainable. Crypto mining for Ethereum will become obsolete, reducing its environmental impact; the supply of Ether will decline as fewer coins are issued; blockchain security against potential attacks should improve; and institutional investment in Ethereum will grow.

'New' Ethereum tokens won't be created by the merge Following the merge, there is a big misconception that Ethereum will have a "new" token. According to Ethereum developer Tim Beiko, this is not true. There will be no change to Ethereum's

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cryptocurrency, Ether (ETH) Ethereum 2.0 was once referred to as "Ethereum 2." However, the Ethereum Foundation and the blockchain's core developers announced in January that this labeling would be phased out, as scammers had been trying to convince users that a new "Eth2" token would replace ETH. The Ethereum Foundation reported that malicious actors have tried to trick users into exchanging their ETH for "ETH2" tokens or that they must migrate their ETH before the upgrade by using the Eth2 misnomer. Beiko suggests investors remain wary of any promises of free tokens or airdrops relating to the merger from outsiders.

Ethereum currently has both a proof-ofwork and a proof-of-stake chain running at the same time. The proof-of-work chain is currently the only one that processes transactions for users. Both chains have validators. Upon completion of the merge, Ethereum's blockchain will switch to the Beacon Chain, a proof-of-stake chain, and mining will become obsolete. Depending on how crowded a network is, this structure change might cause the price of "gas fees" to decrease, as these fees can sometimes add hundreds of dollars to the cost of processing Ether transactions. However, Beiko said, that's not going to happen. 

Ethereum's fees will not be lowered by the merger The merger will lower Ethereum's "gas fees," or transaction fees, is another misconception. According to Beiko, this is also incorrect. As a result of the merge, Ethereum will shift from a proof-of-work model to a proof-of-

April 2022 | Volume 21

FEATURE Crypto Weekly

Can Anyone Just Live Off

BITCOIN?

ould you be able to live on Bitcoin alone in London? Imagine living in London, the UK capital, and paying for travel goods and services only with the world's most influential cryptocurrency. During this crypto-experiment, Brian McGleenon encountered obstacles such as slow transaction speeds and the low adoption rate of cryptocurrencies by businesses and retail outlets in London.

On a foggy Monday morning in December, Brian said, "I decided to live solely on Bitcoin (BTC-USD) for 24 hours. Because I would only need my mobile phone and a set of

April 2022 | Volume 21

cryptocurrency-specific payment apps to carry out this experiment, I did not carry any credit cards or cash in my wallet."

Now that Bitcoin is the world's most popular cryptocurrency, buying it has become easier than it used to be. Purchasing Bitcoin on exchanges, such as Mt. Gox in Japan, required users to move funds through a maze of offshore intermediaries. Retailers can now access Bitcoin using applications such as Revolut, Paypal (PYPL), and Coinbase (COIN) in a matter of seconds. Brian continued, "For my London trip, I deposited $150 (£110), about 0.004 BTC, of Bitcoins into

my Revolut account at mid-December 2021 prices. As part of my mission, I used Bitcoin only to purchase food, travel, and pay for any needed services. First, I attempted to purchase breakfast in Sainsbury's before departing for London. I used the Bitrefill app to top up my cryptocurrency wallet with Bitcoin from my Revolut cryptocurrency wallet and purchased $10 worth of Bitcoin, or 0.00028 BTC, for breakfast ingredients. There is a way to purchase gift cards in Bitcoin by using the Bitrefill app, even though most UK supermarket chains do not support Bitcoin."

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“The optician was my next stop. Despite searching the internet for an optician in London who would accept the world's largest cryptocurrency, I was unable to find one. Therefore, I reached out to Stefania Barbaglio, founder of the Financial Fox YouTube channel and one of London's crypto-experts. Located near the Chalk Farm tube station in London, Adam Simmons Opticians accepts Bitcoin as payment for goods and services. In order to get there, I needed transportation. I discovered that I could not use my car to get around London as no filling stations were willing to compromise the primacy of the petro-dollar and accept Bitcoin as payment for fuel. The Bitcoin Black Cab is the only London taxi service that accepts Bitcoin for payment. I found Crypto Cabbie, who operates the Bitcoin Black Cab service under the pseudonymous Dave Jenkins, after scouring online forums. It is a one-man operation that has been running since 2017. I spent 0.00056 BTC (or £20) at Adam Simmonds opticians. 0.0021 Bitcoins were paid for the service, which cost £75. A Bitcoin sign hangs outside Adam Simmonds' shop, and all the products there can be ordered using this currency, including eye tests, for which I had already made a reservation.” During the last six months, Adam has accepted Bitcoin as payment. "I wanted to be part of this new wave of forward thinkers," he said of becoming Bitcoin-friendly. “Since he is a hodler - someone who believes crypto will appreciate significantly over the longterm - he does not cash out the Bitcoins he receives immediately." “My Revolut transaction took nearly 30 minutes to complete, which was a problem since I didn't want to leave before making sure the payment had gone through, and I was also worried that it would affect my second taxi trip with Crypto Cabbie. My antiquated phone did not cause the transaction delay. After the payment went through, I had $45, or 0.0012 BTC, in my wallet. During my visit to Adam's opticians, a cryptocurrency investor mentioned a pizzeria nearby that accepted Bitcoin. I was taken to the Cinquecento Neapolitan Pizzeria on Portobello Road by that investor,

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who chose to remain anonymous. I met Emanuele Tagliarina there and enjoyed a pizza that cost £12, or 0.00034 Bitcoin. In the aftermath of leaving the pizzeria, I had to travel across London to meet Brian Rose, the host of the London Real YouTube channel, who I wanted to talk to about Bitcoins as a means of everyday transactions. Again, I contacted Dave Jenkins, the Crypto Cabbie, who took me to Old Street for a further £20, or 0.00056 BTC. In addition to the low adoption rate, Brian and I discussed the slow transaction speeds I had experienced when using Bitcoin in London. Several of the companies that claimed to accept Bitcoin on the internet refused to accept it when I called to doublecheck. I was told that Bitcoin was a great digital asset, but a terrible currency by an ex-Wall Street veteran.” "It is designed to store value as digital property, but not to be used by people for transactions. We will need new innovations for Bitcoin to be used properly in 12 months." “When I returned home, I still had £14 left in my digital wallet that I transferred to Bitrefill to pay for a takeaway that I ordered through Just Eat. Bitcoin has the largest market capitalization of all cryptocurrencies. During the financial crisis of 2008, Bitcoin was created. Satoshi

Nakamoto, the anonymous founder of Bitcoin, referred to the bailout of global banking in the first block of the Bitcoin blockchain, now called the "Genesis Block." The Genesis Block code contains a secret message which reads "the Times 03/ Jan/2009 Chancellor on brink of second bailout for banks." Bitcoin's consistent value appreciation has been largely unaffected by the fallout from COVID-19 lockdowns throughout 2021. Since the beginning of January 2021, Bitcoin's price has risen by 94.29%, despite a dip in early June. “My Bitcoin experiment was conducted during a week in which the price of the digital currency fell to a monthly low of $47,000. As a result of the collapse in Bitcoin's price, which reached a record high of over $69,000 earlier in November, the collapse was made all the more dramatic. In my experience living in London using Bitcoin, I found three key conclusions - the transaction speed is slow, Bitcoin is not suited for transactions at scale, and the adoption rate by retail outlets across the capital has not grown significantly since its creation in 2009.” Bitcoin is still largely unaccepted as a form of payment by retail outlets. Thus, the only way to live exclusively on crypto is through third-party applications such as Bitrefill. Brian Rose says, “Bitcoin is not built for people to transact with on a daily basis, but to store value as digital property.” 

April 2022 | Volume 21

FEATURE Crypto Weekly

What's Happening with Google and Crypto Technology

The crypto ecosystem may be Google's next step, according to Sundar Pichai, CEO of Alphabet, which owns Google.

undar Pichai, Google's CEO, confirmed last week that the company is exploring crypto and blockchain opportunities. As Alphabet, Google's parent company, announced record advertising revenue to push its market cap to $2tn (£1.4tn), Pichai stated: "Blockchain is such an interesting and powerful technology."

As disintermediated (removing the intermediaries) peer-to-peer transactions become more mainstream, Google is making significant headway into the crypto ecosystem. A key part of Pichai's announcement was his desire to add value to web3 innovations by supporting blockchain solutions as best he could. In

the future, Google plans to make its cloud computing services available to blockchainbased businesses. Additionally, they are looking into incorporating NFTs on their web platforms, as well as considering cryptocurrency payments. Google does not have a first-mover advantage with its slow adoption of blockchain technology. Following other Silicon Valley companies, Google adopts web3 to catch up with crypto-pioneers. Sergey Brin, the co-founder of Google, acknowledged in 2018 that his company has not kept up with the blockchain revolution at a tech conference in Morocco. Over a decade after Satoshi Nakamoto released the Bitcoin White Paper, Google has yet to embrace this disruptive technology. However, Google Cloud announced on 27 January that it would be creating a blockchainbased division called the Digital Assets Team. It comes at a time of rapid web3 innovation and growing consumer, producer, and

April 2022 | Volume 21

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Crypto Weekly

merchant adoption of cryptocurrency, which could lead to mainstream adoption of cryptocurrency payments, artistic content, and distributed computing. The move into crypto is a way for Google to "establish critical traction" in this burgeoning market, says John Kicklighter, the chief strategist at DailyFX. Possibly, the company is seeking to assert its presence before the introduction of regulatory frameworks that could slow growth. He told Yahoo Finance UK that multinational corporations like Google are "moving quickly to establish traction in this burgeoning area of tech not only to establish a competitive advantage but also to establish critical traction before slow-moving regulations stifle growth." According to him, Google's announcement shows that companies are trying to make progress in these areas before governments increase their ability to resist aggressive crackdowns. Google could face scrutiny if the early investment does not pay off quickly, but the company has been known to invest in projects for the long-term, sometimes with outsized returns.

Blockchain Companies Google announced last Thursday that it would enable blockchain companies to deploy their nodes "on the cleanest cloud in the industry.” By using Google's "secure, and sustainable infrastructure,” the internet search giant plans to participate in the crypto-ecosystem and help blockchain developers scale up their businesses. It will support data transfers, cryptocurrency transactions, and digital assets like NFTs in order to maintain speed of settlement while maintaining scalability. Fundamentalists may argue, however, that having blockchain nodes on Google Cloud does not constitute a decentralized network if they are all maintained by the same company. A network's level of centralization can be difficult to determine. According to Emiliano Billi, chief technology officer at Kollectiff, when a blockchain's nodes are in Google Cloud, we can talk about the concept of centralization, but that only affects the layer of computation power, not what happens inside the blockchain. "True centralization

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occurs only when one entity controls the majority of the mining process, confirms transactions, and validates blocks. Google Cloud, however, rents its service to different final users." Dapper Labs, Hedera, and Theta Labs were mentioned in the announcement. Consumers and businesses benefit from blockchain, just as open-source development was fundamental to the early days of the internet, according to Yolande Piazza, vice president of financial services at Google Cloud. "As it becomes more mainstream, companies will need scalable, secure infrastructure to expand their businesses and support their networks."

NFTs YouTube, which contributes almost 11% of Google's total revenue, is also planning to integrate NFTs. YouTube CEO, Susan Wojcicki, wrote in a letter last month that the platform was using web3 innovation "as a source of inspiration," specifically mentioning cryptocurrencies, decentralized autonomous organizations (DAOs), and NFTs. Harmony One Co-founder, Stephen Tse. told Yahoo Finance UK that this would allow the company to reach "an entirely new consumer base, shifting the public's perception of what web-2 companies can do, and allowing them to keep up with emerging technologies." Cloud computing provider Google said it would look into the possibility of customers making and receiving payments using cryptocurrencies in the future. As Google's president of commerce, Bill Ready, said in January, "we are paying a lot of attention to crypto transactions, and we will continue

to do so as user demand and merchant demand evolve." As a result of its strategic partnerships with Coinbase and BitPay, Google has demonstrated its progress towards becoming a dominant player in cryptocurrency. Giving users access to cryptocurrencies in digital cards, providing an alternative payment option, aligns with its vision of creating digital currencies. Currently, Google is trying to shift from advertising to other growing markets in order to diversify its revenue sources. In order to create a blockchain division, Google Cloud will combine capital, computing expertise, and political influence. There are many challenges associated with cryptography, including anonymity for users, publicly accessible ledgers, permissionless transactions, and decentralized ownership of intellectual property and data. According to Klaus Schwab, chairman of the World Economic Forum, a fourth industrial revolution is underway. Blockchain-based innovation will be critical to achieving this dramatic change. The cryptocurrency revolution is expected to bring sweeping changes to society. A few examples of this disruption include decentralized finance (DeFi) and decentralized film (DeFilm). We cannot ignore the crypto-space any longer. Blockchain technology will bring this change to life. Globally, the World Economic Forum predicts that blockchains will store 10% of the world's GDP by 2025. Technology giants, including Google, are now taking blockchain's potential to increase interoperability and connectivity, digitize economics, and bring smart automation, seriously. 

April 2022 | Volume 21

FEATURE Crypto Weekly

Full Crypto Adoption Around the World is 'Unstoppable'

n a recent interview published to the wire services, former UK Chancellor, Philip Hammond, discussed the institutional finance sector's mass adoption of blockchain technology. Lord Hammond noted that the progressive technologies that characterize the cryptocurrency ecosystem will "bring many benefits and introduce significant efficiencies." Hammond warned, however, that onboarding these new mechanisms could be "hugely disruptive to the existing financial services infrastructure."

benefits and provide significant efficiencies". Among the many benefits of distributed ledger technology are "increased security, transparency, and speed of settlement, as well as lower execution costs for customers." Nevertheless, he cautioned that onboarding these new mechanisms would negatively impact the existing financial services infrastructure. "Incumbents of institutional markets would suffer the heavy burden of disruption, and these market participants

will be concerned about the effect of disruption on jobs in the sector." Former chief financial secretary, Lord Mandelson, said that DLT and blockchain technology could provide significant opportunities for London and the UK financial services sector. He argued that despite City of London firms' historically fast adaptation to disruptive technologies and adaptability, a malaise exists where firms are preoccupied with "what the future looks like" due to ongoing

Hammond believes cryptocurrency characteristics of tokenization and distributed ledger technology are now "unstoppable". When conventional assets are tokenized, the factors currently associated with crypto assets will become normal patterns of trading. Lord Hammond said, "This is going to happen. I think we're at a point where it will be unstoppable." Distributed ledger technology (DLT) is the key to cryptocurrencies, such as Bitcoin (BTC), bypassing centralized financial authorities. Hammond says the progressive technologies that are the hallmarks of the cryptocurrency ecosystem will "bring many

April 2022 | Volume 21

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Crypto Weekly

complications caused by Brexit. The current Conservative cabinet should ensure that London can lead in this burgeoning sector so that "regulators take notice and respond appropriately." Hammond is now a senior adviser at Copper, a London-based provider of custody and trading infrastructure for digital assets. He said in the interview, “A growing sentiment exists within financial institutions that the technologies of the cryptocurrency ecosystem should be embraced. The traditional financial sector is on the brink of making a collective decision about the new disruptive technology and is recognizing that it is inevitable. In the past, the impulse to smother it may have been strong, but now pretty much all of the grown-ups in this area are aware that it is inevitable." In reaching this reversal of attitudes, traditional financial institutions have come a long way. As blockchainbased solutions have developed over the years, cryptocurrency and decentralized finance have been associated with them. Now that the margins are no longer able to contain them, the enemy is at the gates for traditional financial institutions. Hammond said, “Conventional financial services players will have to consider how much they should embrace the new technology, or how far they should slow it down in order to gain a foothold.” Chancellor Brown explained how attitudes toward central bank digital currencies (CBDCs) have also changed among global central banks. During his tenure as UK

chancellor of the exchequer from 2016 to 2019, he said, “The environment was harsh for such nascent ideas, and most central banks were trying to smother them. Those days are gone. The central banks are now considering the possibility of fiat digital currencies surfacing in significant numbers around the world." Earlier this year, the Bank of England and UK Treasury launched a joint task force to explore a possible central bank digital currency (CBDC) in Britain. China took the lead by conducting trials of its own 'digital yuan' in major cities. The Chinese government now plans to launch their digital fiat currency during the 2022 Winter Olympics in Beijing. Hammond suggested that other jurisdictions learn from Beijing's efforts to leverage the "rapid follow-up advantage" and apply it to their own CBDC

projects. In response to a question about replenishing the UK's depleted gold reserves with a digital store of value, Hammond declared that he was not confident the Bank of England would receive widespread public support for its purchase of "current digital assets" like Bitcoin. Aficionados of cryptocurrency use a phrase attributed to Ernest Hemingway when explaining how institutional finance will eventually adopt this revolutionary technology. According to Hemingway's The Sun Also Rises, bankruptcy happens "gradually, then suddenly." Using Hemingway's adage, the cryptosphere explains how acceptance of new technology will gradually build until the world suddenly embraces it. At some point, conventional assets will be digitized, and that is the form in which they will be stored. Traditional finance is undergoing a rapid transformation. Regulators have approved two Bitcoin exchange-traded funds (ETFs) and Ether (ETH) custodial accounts. Many have become accepted as legitimate assets by many institutions over the past years. Because of the burgeoning crypto-sphere, government budgets on both sides of the Atlantic are declaring more bowering to meet increased public spending commitments. Retail investors rushing to the crypto-space have been prompted by rising debt burdens, supply chain woes, inflation-tainted savings, and increased interest rates. How much longer can major financial institutions stand by and watch from the sidelines? 

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April 2022 | Volume 21

FEATURE Crypto Weekly

When Bitcoin Was Supposed to be Anonymous B

itcoin does not provide enough anonymity to a growing group of crypto-users looking for more privacy. Cryptocurrencies known as privacy coins, which aim to mask users' identities and transaction details, have quietly gained ground this month as Bitcoin matures and moves towards mainstream finance. According to CoinMarketCap data, Monero and Zcash have gained 7.6% and 46% since March 1, while Bitcoin has lost about 5%. They gained 4.7% and 16% last week. The

April 2022 | Volume 21

index tracked by research firm Macro Hive has risen 4% more broadly. A potential blip in the privacy coin journey may prove to be the differences of the underlying blockchains that conceal more information about transactions and parties. Data from CoinMarketCap shows that Monero's market cap grew from $100 million five years ago to $6.8 billion recently, and currently stands at $3.4 billion. As interest in crypto privacy grows, Bitcoin's role as an anonymous currency is declining. There is

also a war in Europe, tightening sanctions, and strong statements about regulating the crypto market from policymakers in the United States, EU, and Japan. In a report, Aidan Arasasingham and Gerard DiPippo of the Center for Strategic and International Studies wrote that Bitcoin is not truly anonymous, but rather pseudonymous, where coins can be held in wallets opened under alternative names or false identities. As they wrote, "If a wallet can be linked to an entity or individual, the actor

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Crypto Weekly

asset management firm Wave Financial and owner of the Monero cryptocurrency. Over the past few years, privacy coins have evolved as authorities have been able to track the blockchain activity of Bitcoin and other major cryptocurrencies. In a note, Teunis Brosens, head economist of digital finance and regulation at ING, said that coins can be traced back to the very last "satoshi", Bitcoin's smallest unit. It is

evident by recent reports of ransomware money being recouped and arrests for hacks of crypto exchanges years ago. Large regulators are keeping an eye on the crypto market, intensified by concerns that Russian oligarchs and other sanctioned individuals could use Bitcoins to transfer money clandestinely. Several senators have introduced legislation that would give the president the power to sanction foreign cryptocurrency firms. The European Union approved comprehensive legislation concerning digital assets as well. Those who make unauthorized payments to those targeted by the sanctions will be punished by Japan's Financial Services Agency. Bitcoin's movements have been constrained in part by the Ukraine conflict and the Federal Reserve's hawkishness. Since mid-January, Bitcoin has remained stuck between $35,000 and $45,000, unable to reach the $50,000 mark it reached at the end of 2021. Binance's long-to-short Bitcoin positions ratio is 1.5, the same as when Russia invaded on February 24.

can be identified," referring to the possibility that crypto could be used to transfer funds in Russia and Ukraine. Transactions and wallets can be tracked. In addition to volatility, privacy coins face several other obstacles that prevent them from becoming a viable alternative to Bitcoin, a cryptocurrency with a market cap of approximately $777 billion.

Similarly, data from Glassnode indicates that more Bitcoin supply is being absorbed by entities with low statistical histories of spending it. GlobalBlock analyst, Marcus Sotiriou, believes this suggests a bullish market structure for the medium-term. "Bitcoin is consolidating below $41,000 as the percentage of long-term holders in the market continues to rise," Sotiriou said. 

Due to the potential for illicit activity, some major crypto exchanges do not list privacy coins. During this month, Monero's daily trading volume has been under $250 million, while Ripple's has been going over $1.5 billion every day. “A privacy coin will probably grow, but there are a number of things that have to be done to make them anonymous, which makes users unhappy and raises transaction costs," said Dave Siemer, CEO of Los Angeles

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April 2022 | Volume 21

FEATURE Crypto Weekly

The Political Movement Forming Around Crypto

ryptocurrency itself does not inherently fall into either the left or the right. It doesn't matter what political persuasion you hold. Whether you like it or not is irrelevant. However, a partisan divide is emerging around it. Right-wingers embraced crypto and staked their claims, whereas the left shunned it and renounced its claims. This sometimes seems illogical. It is nonetheless happening. Michelle Rempel Garner recently asked the crypto community what the government could do to improve the industry. Maxime Bernier, leader of the People's Party, praised Bitcoin along with her colleague, Pierre Poilievre. The same applies to Kevin O'Leary, who ran for the Conservative leadership and has backed crypto projects in the past. Jason Kenney, the Premier of Alberta, has also talked up the prospects of crypto.

critic, Daniel Blaikie, cryptocurrencies should be explored more thoroughly because they could be used in crimes such as money laundering and tax evasion. Lastly, there is former Bank of Canada governor, Mark Carney, now a Liberal, who has openly expressed his dislike of crypto. Other countries are experiencing partisan splits as well, and perhaps we take our cues from the United States, as with many issues. It seems that Republicans are fond of crypto. The former president has recently

criticized blockchain, but he promoted his wife's blockchain project in the same interview. Cynthia Lummis has emerged as the industry's most prominent advocate; at one point, a majority of Cynthia's donations came from crypto players. Senator Ted Cruz has repeatedly defended the crypto industry. The crypto-meme "gm," shorthand for "good morning," was previously used by Republican congressman Tom Emmer on Twitter. In the meantime, Democrats have either remained silent or, like Sen. Elizabeth Warren, have attacked Bitcoin every chance

On the other end of the political spectrum, little is heard. The New Democrats introduced a resolution to study crypto at their convention in 2016, but it has since been criticized. According to the party's finance

April 2022 | Volume 21

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FEATURE

Crypto Weekly

they get. Rep. Brad Sherman mocked crypto by referring to it as a "mongoose coin." Former presidential hopeful Hillary Clinton is not a fan, and neither are many of the Biden administration's appointed officials, from securities regulator Gary Gensler to the failed Treasury nominee Saule Omarova. Given Bitcoin's libertarian beginnings, it is perhaps not surprising. In his book “The Politics of Bitcoin,” scholar David Golumbia claims Bitcoin's ideology is replete with right-wing thinking, citing its alignment with conservative economic ideas. One protester featured "Buy Bitcoin" prominently on his yellow vest during the 2018 Paris protests sparked by tax hikes. However, like many phenomena in crypto, the right's embrace cannot be explained by any single factor. Especially since the crypto world has gotten more diverse over the past few years, and no longer has the old-school Bitcoiners dominating it. Some Bitcoin projects are also less power-intensive, thus reducing criticism about Bitcoin mining's impact

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on the environment from the left. Several recent surveys have revealed the political leanings of the crypto community to be different from the general population by a slight margin, with the biggest single group leaning small-L liberal - it's just the politicians who are currently shaping the debate. Among those politicians, there are also outliers. In the United States, public officials, regardless of party affiliation, have embraced crypto. Municipal and regional boundaries are often blurred, however. In the future, it may not matter why there is a partisan divide over crypto. Conservative politicians embrace crypto and progressives bash it, and so a few more right-leaning people become partial to it while a few more left-leaning people avoid it, and so conservative politicians embrace it further, and so on. In addition to becoming more mainstream, crypto will also become more polarizing. In a similar way, TC Energy Corp.'s Keystone XL pipeline was scrapped not for technical

reasons, but because of political backlash. It could become one of those divisive issues for which people infer your political leanings from your view, and that may affect your investment decisions. It could be just a matter of time. 

April 2022 | Volume 21

HIDDEN GEMS Crypto Weekly

PROJECT 1

catcoincrypto.me

Catcoin

CatCoin was launched on November 26, 2021 by Miaoshi Nekomoto (Satoshi Nakamoto's Cat) as a community-influenced project with big goals but little funding. Renounced by Miaoshi shortly after launch, CatCoin is now completely owned and run by its amazing community. Catcoin is a community-influenced project that connects the crypto world with social media. Catcoin is the first crypto-related project to offer a 24/7 live stream on Twitch.tv, allowing the community

PROJECT 2

adacash.io

to share their thoughts on Catcoin at any time. Catcoin values a friendly and caring community. Anyone can be a part of the Catfamily. In addition, Catcoin's development is primarily focused on the Catnip project, which will be developed and released by mid-2022 at the latest and implemented into the Metaverse (Catverse) at the request of the community.

ADAcash (ADAcash)

adacashtoken

ADACash is the step forward in yield-generating contracts on the Binance Smart Chain (BSC). A revolutionary new token that earns you ADA reflections just for holding. On each transaction 10% is distributed between all holders as CARDANO every 60 minutes dependant on volume. You receive rewards distributed in ADA rather than token reflections and the contract employs a static reward system. This allows rewards to extend outside of simply holding the coin as would a reflection-based coin operate.

April 2022 | Volume 21

catcoinbsc

catcoin_bsc

adacashbsc

ADACash’s Tokenomics:

Token supply of 100,000,000,000,000 ADACash

15% Buy and Sale Tax*

• • •

10% ADA is redistributed among holders 2% is used to increase the liquidity pool. 3% is allocated towards funding the marketing wallet.

NOTE: you must hold 200,000,000 or more ADACash tokens to be eligible for the ADA dividends.

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METAVERSE EVENT Crypto Weekly

SPONSOR & PARTNERS

April 2022 | Volume 21

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METAVERSE EVENT

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MetaTokyo, Takayuki Suzuki, CEO

Michael Kaldasch, Founder/CEO, Aimedis

Justin Edwards, COO, Decentraland

Mahmoud Ali, General Partner, A&#39;Z Angels

Dirk Lueth, Co-Founder, Upland

Raj Kapoor, Founder, India Blockchain Alliance

Harrison Seletsky, Head of Communications, NFTrade

Subgame,Ambassadors

Guy Gadney, CEO, Charisma Entertainment

On Yavin, Managing Partner, Cointelligence Fund

Isabell Welpe, Professor of Strategy, Technical University of Munich

January Barnes, Founder &amp; Tech Reporter ParlayMe

Jesse Johnson, Co-founder and COO, Aavegotchi

Jack-D, COO, Metaverse Club

Musheer Ahmed,Founder &amp; MD, Finstep Asia

David Hoppe, Managing Partner, Gamma Law

Alejandro De Grazia,Head Movies &amp; Entertainment in General, Decentraland

Robert Porter, CEO, Karma the Game of Destiny

Cliff Szu, CEO,Multiverse Labs

Baptiste Tricoire ,Marketing Consultant &amp;Forbes writer

Mik Mironov,CEO, LOCGame

Jay Chang, Co-Founder, Genopets

Miko Matsumura, General Partner, Gumi Cryptos Capital

Gilbert Ng, Partner, Mulana Venture

Bijan Alizadeh ,Partner, Cypher Capital

Jeong Hak Soo, CEO Korea App Inc.

Kwebbelkop,CEO, LaunchMyNFT

To know more about the Metaverse Ecosystem and Investment Conference Asia Station at 24-26, May 2022, please visit the website: metaverse-club.net Tickets Application: https://jinshuju.net/f/sa04NG Sponsorship and Media Exposure enquiries: philip@cryptoweeklymag.com @PhilipGreenwoodCryptoWeekly Or contact the event organisers directly: Shan-mo@metaverse-club.net

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April 2022 | Volume 21

BEGINNERS GUIDE Crypto Weekly

What You Need to Know About DeFi T

he decentralized financial system, or DeFi, represents a fundamental change to how we've built our financial system. Ethereum, the world's second-largest cryptocurrency, is built on top of it. It's time to begin learning about it if you don't know much about it. Fundamentally, DeFi is an alternative way to use blockchain, the technology that underpins cryptocurrencies such as Bitcoin. Banks can be removed from the equation, creating a more transparent, traceable system that makes finance accessible to a wider audience. DeFi can provide you with more financial options by crowdsourcing student loans and expanding investment options. However, it would help if you didn't go into it blindly. According to Cardify, only 15% of crypto investors are fully aware of crypto's value and potential. If you are interested in understanding some of the emerging trends

April 2022 | Volume 21

in modern finance - without falling into the pitfalls - you must understand DeFi.

Here's how to get started. Research blockchain, the technology underlying DeFi. Find reliable sources of information. It is, therefore, important to investigate the sources' motives and steer clear of sites that state that everything is either good or bad. Quality sources weigh the pros and cons. For example, most digital wallets are not insured by the FDIC, so you might be looking in the wrong place.

Make every effort to delve a little deeper into DeFi. This field is rapidly advancing, so updates on DAOs are essential. Take a look at Crypto, Culture & Society if you're interested in learning about DAOs. However, information from DAOs is crowdsourced, and quality varies with crowdsourced information. When someone says something is the greatest thing since sliced bread, you should be cautious.

Additional advanced learning is available.

The next step is to consult resources offered by decentralized autonomous organizations. The DAO is an ownerless, digital group that exists on the blockchain and serves a collective purpose.

Searching the internet on your own has obvious limitations. The use of webinars and podcasts from credible sources is a good option for more structured learning. In addition, they are often very up-to-date.

These organizations often have contributors who are at the forefront of their fields, so they can provide excellent information.

Taking up knowledge is similar to taking up fishing. In addition to finding the best lake on your own, webinars and podcasts let

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BEGINNERS GUIDE Crypto Weekly

you spend an hour with a fishing guide who can tell you where to fish and which lures to use. Stephan Livera's podcast, Real Vision Crypto Channel, The Defiant, Pomp Podcast, and Unchained all offer helpful information. Take advice from podcasts with a grain of salt since their hosts are often deeply immersed in DeFi. You can also take online courses. Different levels of content are offered. They are taught by experts. As long as you don't require a certificate, you can usually audit them for free. My favorite was "Decentralized Finance (DeFi) Infrastructure," taught by Cam Harvey of Duke's Fuqua School of Business. Courses may take up to six months to develop their content, which means they aren't always up-to-date. Bootcamps, or higher education programs, are options for people considering a career switch to fintech or who need upskilling to get hired. They offer personalized, intensive training, which can be helpful if you want to switch professions. Several well-established companies offer resources for their employees to pursue outside education to enhance their skills. Do thorough research prior to pitching a costly learning option to your manager, so you're sure you've chosen the right one.

April 2022 | Volume 21

Keeping up with the latest trends. Like crypto, DeFi is playing an increasingly prominent role in the economy. You can expect DeFi to be used for many things in the not-too-distant future, from real estate to small-business loans to diversifying your savings. Children, just beginning to save, may see the bright lights of Bitcoin and Robinhood, but not so much the pitfalls. They will need your help and guidance. You

still need to know basic DeFi literacy, even if you're not ready to dive in. Additionally, there is a professional advantage. As these new modes of finance expand, you don't want to wait to find out that your knowledge and skills are outdated. Learning and development departments in most corporations lag behind the times. Learning DeFi is a sign that you're well-read, you take initiative, and you're an employee who seeks to rise to the top. 

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FEATURE

Crypto Weekly

International Digital Currencies Are in Our Future Financial institutions are able to transact directly with one another using a central bank's digital currency.

n recent years, international financial authorities have developed prototype platforms for digital currencies backed by central banks that may be incorporated into the worldwide monetary system, raising hopes for the possibility of digital dollars. It was announced that the Bank for International Settlements (BIS) has developed two preliminary platforms for facilitating international settlements using digital currencies issued by multiple central banks. In addition to the US Federal Reserve, a collection of central banks own the BIS, referred to as a bank for central banks. Australia, Singapore, Malaysia, and South Africa collaborated on its innovation in digital dollar settlements. Using central bank digital currencies on a shared platform, "Project Dunbar" has shown that financial institutions can transact directly with one another. By eliminating intermediaries, cross-

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border transactions would be less expensive and faster. In a statement, Andrew McCormack, the head of the BIS innovation hub in Singapore, said, "Project Dunbar demonstrated the value of governance mechanisms enforced

by robust technology, laying the foundation for developing future global and regional platforms." In the fast-growing digital asset space, decentralized and volatile crypto assets like Bitcoin and Ether have received much attention, but central banks are catching up. Several financial authorities, including those in the U.S. and the U.K., are exploring the possibility of digitizing their national currencies. President Joe Biden recently discussed the rapid growth of cryptocurrencies and detailed a national policy for handling digital assets. The White House has called for exploring a US digital dollar with "urgency on research and development." What I am saying here is that the groundwork is being done. Platforms are being tested. No one knows when, but digital currencies managed by central banking and the nation-states that control them are only a matter of time. 

April 2022 | Volume 21

Crypto Weekly

of the

week

NFT

They're BUYING!! Institutions BULLISH on Crypto!! Pump Next!?

April 2022 | Volume 21

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FEATURE Crypto Weekly

Influencers and Founders of NFTs and the Metaverse, Who are Women W

omen comprise less than 5% of crypto entrepreneurs, but a few female founders and influencers break down the gender bias in NFTs and the Metaverse. According to data collected from multiple studies, there is a stark gender-funding gap within the Web3 sector. Founder teams that included at least one woman only received 9% of all funds deployed to technology startups. Moreover, startups with a sole female founder, or those comprised of an all-female team, raised just 2% of all venture capital dollars. According to a study by PitchBook, startups founded by women outperform those founded by men. According to the 2019 study, hiring female decision-makers at the

April 2022 | Volume 21

investment level is associated with superior fund performance. Women-led Crypto initiatives are rare in a sector dominated by men and are less likely to receive funding from venture capitalists. According to a separate study by the Boston Consulting Group (BCG), companies founded by women generate higher revenues. According to the survey, female-led startups deliver nearly 10% more returns on investment over five years than those led by men. As crypto becomes more mainstream, we need to consider diverse perspectives when building and running systems. In the crypto world, the gender split is similar to what we see in the tech and finance

sectors; there are women, but they are heavily outnumbered. Ten top women in the world of NFTs and the Metaverse are pushing against the odds.

Allyson Downey Meta Angels is an NFT community that "harnesses Metaverse relationships to unlock real-life opportunities," which Allyson Downey co-founded. When asked whether it is still possible to lay the groundwork for gender equality in Web3's foundation, “The sector is in its infancy, so women with experience in building and growing businesses could do well in Web3," she said. "It's economic shrewd to create an ecosystem that encourages the growth of women-led businesses."

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Crypto Weekly

Downey predicts that online and offline life will be more intertwined ten years from now. Thanks to the improved user experience, users will be able to use Web3 just as easily as a credit card or contactless payment today.

Ariana The Techie, aka Ariana Waller Ariana Waller has been working in the blockchain space since 2017 and is a fullstack software engineer. Her company, Mueshi, is an online marketplace where fine art NFTs can be bought, sold, and fractionally purchased. Arianna Waller is passionate about encouraging more women to consider careers in the web industry. As a US-based startup founder, she is passionate about encouraging more women to consider careers in Web3. "We need you in this space," she says. "You may be the only woman in Web3 today, but you will soon be joined by many others building, investing, and creating in this space. Someone needs to hear your specific story, your specific voice, so they can be inspired to be in Web3."

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“A pioneer is a woman who builds in the Web3 space in 2022. It's okay if you're the first or only woman in the room. We're making history. Walk your talk, other women worldwide need to hear your story, so they can have the confidence to walk through the same doors you did." Waller believes Web3 developments will "decentralize traditional institutions and enable communities worldwide to work together in new ways" and believes Web3 will "positively impact international governments, voting systems, the arts, education and more." Emily Yang, The artist and people pleaser, Emily Yang, specializes in Web3, NFTs, crypto, and DAOs. Emily Yang is one of the world's most renowned NFT artists and a member of PleasrDAO, a collective of early NFT collectors and digital artists. Yang considers herself a "multidisciplinary artist with a focus on Web3, NFTs, cryptography, and DAOs". Her work inspired the formation of the

pioneering investment group PleasrDAO and defined the aesthetic of the decentralized finance movement. With Steve Aoki and Sotheby's, she launched a fund to support upcoming female artists, earning a cover for Fortune Magazine's Crypto vs. Wall Street issue. She has recently founded Shibuya, a decentralized video platform that helps fund independent creative projects. It is rare to see a woman in a leadership or supervisory role during her earlier career in visual effects and animation. As a result, she felt discouraged, and her confidence in her career progression was hampered without any examples or role models to follow. Yet, she said, "As Web3 is a brand new canvas, I think it's important to change that to give females a voice and an equal platform." Despite being male-dominated, she described the Web3 community as "extremely inclusive, perhaps more than any other industry I have interacted with." She advises female creators looking to succeed in the space not to be afraid to

April 2022 | Volume 21

FEATURE Crypto Weekly

network and "take that leap of faith to realize everyone in Web3 cares about your ideas, not what you look like or your background.”

at least one NFT project that interests them. She is excited about democratizing access to capital with Syndicate's tools.

Iris ten Teije

Jaime Schmidt

Koia's co-founder and CEO is Iris ten Teije. According to her, Web3 will create a trillion dollars of value within the next decade. A fraction of iconic assets can be purchased, traded, and collected using this platform.

Jaime Schmidt founded BFF, a decentralized organization that ensures that women and nonbinary people have access to knowledge, opportunities, and financial rewards in Web3. She believes that greater diversity is essential for Web3, as it is "critical for innovation, mass adoption, and social good." With the advent of blockchain technology, women have more opportunities in creator economies and online communities. Jaime Schmidt suggests in her book, Supermaker: Crafting Business on Your Own Terms, that women who are interested in the Web3 field look for ways to make it resonate with their circumstances, interests, and potential for growth.

Koia fractionalizes NFTs by linking them to real-world assets. She said, “It’s a big opportunity and where the true value of NFTs and tokenization comes into play. There is a significant gender pay and wealth gap, and we're going to create trillions of dollars in value in Web3 over the next decade. To achieve true gender equality, I want women to benefit from that just as much as men." It is advised that women interested in the Web3 sector join as many relevant communities as possible and participate in

April 2022 | Volume 21

Kadine James Kadine James is a creative technologist at

Yahoo Creative Studios, specializing in 3D virtual production, motion capture, mixed reality broadcasting, volumetric capture, and photogrammetry. Among the initiatives Kadine James cites are Rise Women, Boss Beauties, the All-Stars Women NFT Club, and DAO as essential to bringing about positive change. In addition, she is the founder of Immersive Kind Collective, a crypto fashion and digital art collective, and an advisor to AllStarsWomen NFT Club and DAO. It is evident that the crypto industry is heavily male-dominated right now and that "the funding and investment gap must be bridged." In addition to projects like Rise Women, Boss Beauties, and All-Stars Women NFT Club, James points to the DAO as an essential driver of change. Web3 will be where "the Metaverse becomes tangible, where our digital selves are compatible across all platforms. Our virtual identities become central to who we are in the 'real' world, whether playing video games or participating in video conferences."

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Crypto Weekly

Krista Kim Contemporary artist Krista Kim founded the Techism movement. Her work explores the concept of digital consciousness. Her work explores digital consciousness, for example. Her aim is to uplift humanity with Metaverse realms that create meaningful and authentic communities for us all to move forward. Kim hopes to see more female leaders in the evolution of Web3 because "if more women take leadership roles in Web3, the more evolved and peaceful the world will be since women will contribute to world culture, co-creation, collaboration, and decentralization." To succeed in Web3, she suggests, "Let your passions and talents inspire others. Our consciousness will be magnified in the Metaverse, so make sure you nourish yourself with positive inspiration." In Kim's view, the Metaverse will create a new environment characterized by a "transcendent culture that transcends all divisions of politics, religion, race, gender, and geography in the real world." Individuals will be sovereign and have more significant opportunities to participate economically and own digital assets through DAOs and NFTs. The Metaverse will be a beautiful and inspiring place.

the mainstream for all the right reasons. Martyna Borys-Liszka is the account director and chair of YAP Global's Financial Services and Fintech Group. She works with clients and media to ensure that the best projects with the best teams receive the attention they deserve and reach the right audiences.

agency based in London, Stefania Barbaglio. Her communication skills enable her to maximize the visibility of Web3 creators to media, investors, and communities. She is one of the top digital PR experts in Britain. “Female leaders have more opportunities in the Web3 sector,” according to Barbaglio.

Borys-Liszka has been instrumental in ensuring crypto enters the mainstream correctly. “According to studies, women and men bring different skills and personalities to the table. When you're in a maledominated field, you tend to start mirroring certain behaviors or emulating 'male' characteristics," she explained.

In her view, there are more opportunities for female leaders in the Web3 sector than in traditional industries. "Web3 and crypto create a decentralized, permissionless, and inclusive system where creators are empowered and can directly manage, protect, and monetize their assets, thanks to the invention of NFTs." She advises women wishing to succeed in the sector to "follow your passion, be ambitious, stay focused, surround yourself with inspiring people and make challenges your opportunities."

“You might not feel that way, but if that's you, then go for it; if not, don't. Bring your whole female self to work, use your instincts, speak up, and take up space." She wishes that in ten years, "the terms 'Web3' or 'crypto' won't be ominous to people outside of this industry." She added, “My friends who aren't professionally involved in this space remind me that I envision a future where everyone has access to information and resources. Stefania Barbaglio Founder and director of Cassiopeia Services, a boutique investor and public relations

Web3 will lead to more "decentralized governance and community empowerment," according to Barbaglio. She predicts that "data will be the most valuable asset, experiences will be the most desired product, and privacy and anonymity will be like gold. People will not need to be techsavvy to use Web3; a click will be all they need. Metaverses will all be interoperable, and we will be able to move between the past, present, and future." 

Laura Shin Web3 is supposed to democratize access to financial services and governance, so a world in which wealth and power go primarily to men would be antithetical to these ideals. A world where men mainly possess wealth and power would contradict Web3's standards regarding democratizing access to financial services and democratizing governance. She is the author of The Cryptopians: Idealism, Greed, Lies, and the Making of the First Big Cryptocurrency Craze and a cryptojournalist. “As long as you pursue your own joy in the crypto space, you'll succeed." She believes Web3 will become "more ubiquitous, easier to use, more tangible, and less abstract." Martyna Borys-Liszka Martyna Borys-Liszka has been leading the charge to ensure that crypto breaks into

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April 2022 | Volume 21

Isabell Moessler and stand guest

BCB

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Moessler and “Greenwood” Crypto Weekly Magazine

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Frank, Marcus Howard, David Brickell, George Zarya (CEO) and Simon Dawes.

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CRYPTO

WEEKLY

BRoll

CRYPTO PEOPLE

BRoll

CME Group Photographer: Marcus Harvey Photography | Phone: +44 7941 455 251 | www.marcus-harvey.com - London

William Le May, Jeff Hancock and Viki Hegedus

coinpass

CRYPTO PEOPLE

coinpass

CRYPTOWEEKLY

DWF

Crypto Club

Chana Kanzen

Dan Collingridge-Padbury and Adam Leon

Finoa

Crypto Club

CRYPTO

coinpass

WEEKLY

Jeff Hancock talks with Mateus at KuCoin

CRYPTO PEOPLE

Marius Lunding Smith and Henrik Gebbing

Adam Leon

Flow Traders

Crypto Club Photographer: Marcus Harvey Photography | Phone: +44 7941 455 251 | www.marcus-harvey.com - London

CRYPTOWEEKLY

Elliptic

Fireblocks

BRoll

GSR

CRYPTO PEOPLE

Elliptic

CRYPTO

Jonathan Hyde, Ylli Vllasolli and colleagues

WEEKLY

Elliptic

CRYPTO PEOPLE

hristy MacLeod, Mindaugas Miskinis, Luke Middleton

Matthew Prowse, Surbhi Singh, Gaia De Ponti, Adrien Bertholom, Frederic Brown, David Simons

Fireblocks

BRoll Photographer: Marcus Harvey Photography | Phone: +44 7941 455 251 | www.marcus-harvey.com - London

CRYPTOWEEKLY

Invictus

CRYPTO PEOPLE

Invictus

KUCOIN

Eriko, Mateus and Lou

KUCOIN

Alex Weinrich,Fin

CRYPTO

WEEKLY

Invictus

CRYPTO PEOPLE

Lou

nn Jakobsen, Michelle Miskelly, Rich Kiel, Conan Hales

KUCOIN

BRoll

Mateus, Eriko and Lou

Broll

Photographer: Marcus Harvey Photography | Phone: +44 7941 455 251 | www.marcus-harvey.com - London

CRYPTOWEEKLY

LMAX

CRYPTO PEOPLE

LMAX

MERKLE SCIENCE

QREDO

Sachin Dutta, Natalie Hall & Three colleagues, Vinod Kumar

ripple

Lillia Severina, Sachin Gurung

Recap

Markus Infanger, Coll

Ben Shepheard, D

CRYPTO

James Carpenter, Pippa Wiskin

WEEKLY

LMAX

CRYPTO PEOPLE

lauge ,Justine Adkins, Rahul Chatterjee and Collauge

MVIS

David Bryden, colleague, Matt Millross, Danie Howitt

TRM

Guilherme Brandao, Martin Leinweber, Thomas Kettner

Laura Yungmeyer and colleagues

Photographer: Marcus Harvey Photography | Phone: +44 7941 455 251 | www.marcus-harvey.com - London

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Crypto Weekly 4/04/2022

Articles inside

26Ethereum's Next Big Upgrade and What it Really Means

Metaverse Event What You Need to Know About DeFi

30What's Happening with Google and Crypto Technology

International Digital Currencies Are in Our Future 44 Video of the Week