🗿 Does the SEC Hate Crypto?

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GM. Welcome to the Friday edition of No FOMO — the newsletter that keeps you in the know about all things crypto and NFTs.

In this issue, we got fresh NFT rankings, plus a breakdown of the SEC’s latest crypto remarks. Oh yeah, and Europe’s cracking down on AI.

Whether you're a seasoned crypto pro or just getting started, buckle up. And don't forget to share this newsletter with your friends and join our 30K+ Twitter frens for new alpha and staying up-to-date with the latest trends.

Without further ado…

Today’s specials:

NFT Power News 📰 - Here comes Hong Kong

NFT Power Rankings – Nakamigos Snubbed??

No FOMO – Gensler goes in on crypto 👿

Today in Crypto History 📅 – Dogecoin to the Moon 🚀

AI Intel – EU proposes new copyright rules for generative AI 👨‍⚖️

NFT POWER NEWS 📰

• Crypto bounces back after rumor mill scare (Yahoo Finance)

• Robinhood Launches 'Connect' to Link Native Crypto Wallet to DeFi Apps (Decrypt)

• Bernstein predicts crypto will emerge as an alternative financial system amid bank busts, and says to buy bitcoin (CNBC)

• Banks bullish on crypto: Standard Chartered’s Zodia raises $36M (Cointelegraph)

• Coinbase rejects U.S. regulator's claim it broke rules on crypto (Reuters)

• Hong Kong's Crypto Licensing Regime Expected to Launch Next Month (Decrypt)

• SEC’s Gensler says ‘the law is clear’ for crypto exchanges and that they must comply with regulators (CNBC)

• Arbitrum Co-Founder Addresses DAO Vote Fiasco, Waves Off Allegations of ‘Decentralization Theater’ (Coindesk)

🔥 NFT Power Rankings 🔥

(below 0.5 eth)

1. The Plague🥇

2. Lil Pudgy Penguins 🥈

3. Killacubs🥉

4. Nakamigos

5. Alien Frens

6. Genuine Undead

7. Cryptoon Goonz

8. Degentoonz

9. Deadfellaz

10. Meet Nippy

Not much to say — the market is slow. But these are doing well 😤

ICYMI: Last week’s rankings

What’s missing👇

No, @nakamigos isn’t getting snubbed. It should be on this list, but it wasn’t under the floor price of .25 at the time of creating this list. Otherwise, it would 100% be up there.

Gensler Goes in on Crypto 👿

SEC Chairman Gensler released a cringe video blasting crypto. Here are a few highlights:

• The U.S. SEC Chairman Gary “Go Get ‘Em” Gensler, is not mincing his words. In a new investor-protection video, he warns that some digital-assets businesses are breaking securities laws, and the lack of compliance means that investors don't have basic protections.

• What does that mean? Rulebooks, surveillance to prevent fraud and manipulation, appropriate custody and segregation of customer assets, and more.

• Gensler has been consistent in his position that crypto platforms are operating illegally, and he intends to hold the industry to existing securities laws. But will the courts and Congress agree?

• Two hearings on Thursday examined the crypto market structure.

The current market outlook:

• Uncertain and subject to ongoing regulatory scrutiny.

• While some industry players may find Gensler's remarks to be overly critical, others may welcome the increased attention and guidance from the SEC.

• It is worth noting that Gensler has emphasized the importance of investor protection and financial stability, suggesting that the SEC's approach to regulating the crypto market will prioritize these goals.

• At the same time, Gensler has acknowledged the potential benefits of blockchain technology and the innovation it enables, which suggests that the SEC may not seek to stifle the crypto industry altogether.

TLDR; it seems that the cryptocurrency market in the United States will continue to evolve in response to regulatory developments and market forces.

Today in Crypto History 📅

April 28, 2021

On April 28, 2021 Dogecoin surged to $0.32 after tweets from Elon Musk and Mark Cuban (CNBC). Initially started as a joke in 2013, the beloved meme-coin became the 6th largest coin with a total market value of $42 Billion (lol). We haven’t seen Doge hit $0.32 since August 2021. Will we ever again?

Meme Mining ⛏️

Nft founders trying to save their project with an unhinged twitter tirade:

Shameless Shill + Alpha

This is NOFOMO, the newsletter that keeps you up-to-date on all things crypto and NFTs. Whether you're a seasoned investor or just getting started, our team of experts brings you the latest news, trends, and insights from the rapidly evolving world of digital assets. Plus, we ratioed Bloomberg once so we think we’re pretty cool.

We’ll try to make it as fun as possible in the process.

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