🗿 Crypto is Up, Now What?

GM. Market sentiment remains high as we roll into the weekend. Crypto has grown 60% since Jan 10 but no one seems to care.

☕ *knuckle cracks* ☕ Let’s get into it.

Today’s Specials:

• No Fomo 🗿: What’s Next For Crypto?

• No Fomo News 📰 : Joe Biden Proposes New Crypto Regulation

What’s Next For Crypto?

It’s been 15 years since Bitcoin launched. Ethereum went live in July 2015. We saw crypto’s mainstream moment in late 2017, with ICO madness and Bitcoin’s breakout.

Fast forward to 2020. The entire world is forced to reevaluate our relationship with digital. Crypto exploded again and popularized NFTs – celebrities, brands, governments, entrepreneurs, and investors flock to digital collectibles and blow up crypto transaction volume. Remember Logan Paul’s $623K NFT??

Enter February 2022. Russia invades Ukraine and the market implodes … as it tends to do. Countless headlines pose the question in collective amnesia: Is crypto over (again)?

Here we are today. Blackrock ETFs get approved. The SEC keeps losing lawsuits against the crypto industry. Bitcoin and ETH are flirting with all-time highs. Since January 10, the crypto market has increased 60% to $2.4 trillion. But in a weird dichotomy, it doesn’t feel like the last bull run.

Looking at Google Trends, crypto has slightly increased as a search term. But it’s nowhere close to previous levels at the peak in 2021.

Celebrities aren’t talking about it, and the overall user base doesn’t seem to be growing much. Starbucks is sunsetting its NFT loyalty program. Prices are higher than ever, but the hype (outside the crypto community) is lackluster at best.

Where do we go from here??

We see three potential outcomes:

1. Crypto Just Becomes Another Asset Class. Institutional adoption, beyond market growth, will simply reduce volatility and make it easier to pay taxes. “Web3”, on the other hand, the app + will become public distributed computing.

2. Crypto Centralizes, Then Decentralizes. Trojan Horse Theory. What if, hear me out, crypto centralizes on the promise of being a good boy. Wins the favor and approval of Federal governments, Central Banks, Financial Institutions, Lawmakers, Regulators, and Corporations. Then, it becomes such a behemoth (sort of like AGI) that it can’t be stopped. Then we collectively pivot crypto back to its decentralized roots, the Trojan Horse, Pandora’s box, if you will, is released and we realize our decentralized Utopia. The crypto market is always replacing itself anyway. Only 28 of the top 100 tokens from 2019 are still in the top 100. Can it ever be tamed?

Big Tech, Lobbyists, Regulators, Financial Institutions, and Corporates Take Over Crypto For Good. This is probably the bleakest outcome in terms of values, but good for market performance nonetheless. It’s likely that the institutions at-large gobble up crypto entirely, and like any other cutting-edge technology that started out with scrappy entrepreneurship and rugged innovation, it will plunge into centralized dystopia.

No Fomo News 📰

AI

• UN adopts first global artificial intelligence resolution (CT)

• Microsoft’s first AI PCs are the Surface Pro 10 and Surface Laptop 6 for businesses (TheVerge)

• Microsoft to Pay Inflection AI $650 Million After Scooping Up Most of Staff (Bloomberg)

• Mind-reading AI breakthrough: AI Eye (CT)

Web3

• Solana and ETH Leaders Mike Dudas and Ryan Sean Adams Clash Over the Future of Crypto (X)

• BlackRock Creates Fund With Securitize, a Big Player in Real-World Asset Tokenization (CoinDesk)

• Bitcoin Remains Overbought Despite Recent Correction, JPMorgan Says (CoinDesk)

• BlackRock unveils crypto fund first with $5 million minimum (The Street)

Tech

• Apple lawsuit: US accuses tech giant of monopolizing smartphone market (BBC)

• Video shows first Neuralink brain chip patient playing chess by moving cursor with thoughts (USA Today)

• Biden pledges billions of dollars in tech grants to Intel (CNBC)

Mining Memes ⛏️

Ozempic babies 😐

Crypto in-fighting be like

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