🗿 XRP Is NOT A Security

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GM. We are so back.

For all you commies who left the US because our government sucks, you can come back now. The SEC ruled XRP is not a security, opening the floodgates for thousands of other coins and tokens to be free from the shackles of Uncle Sam.

Time will tell whether this landmark case marks the end of Crypto Winter…

Without Further Ado. ☕ *knuckle cracks* ☕ Let’s get into it.

Today’s Specials:

Weekend Alpha: What to Watch 👀 : XRP not a security 🫶

No FOMO News 📰 : Former Celsius CEO arrested 🚔

No FOMO 🗿 : Coinbase messaging 📲

Freaky Friday 😱 : AR Deepfake Drake?? 🪄

AI Intel 🤖 : Google Launches Bard in Europe + Brazil 🇪🇺

Conference Corner 📅 : ETH CC Disco Up Next 🇫🇷 

No FOMO News 📰

• Former Celsius CEO arrested; company agrees to pay $4.7 billion settlement (CNBC)

• Coinbase to Restart XRP Trading After Judge's Ruling in Ripple Case (Decrypt)

• XRP coin surges after judge delivers a huge win to Ripple in SEC case (CNBC)

• Indonesia to launch crypto exchange in July: Report (Cointelegraph)

• Congressman Torres Calls for Investigation Into SEC Over its Approach to Crypto (CoinDesk)

• Coinbase CEO Brian Armstrong Asks Twitter Followers if Their BofA Accounts Were Closed Because of Crypto Transactions (CoinDesk)

• NYC mayor Eric Adams to update disclosure form after failing to report crypto holdings, report says (CNBC)

Weekend Alpha – What to Watch 👀 

• XRP not a security, markets up (Reuters)

• Ethereum Hits $2,000 for First Time Since May Following XRP Ruling (Decrypt)

• Europe’s first spot Bitcoin ETF eyes 2023 debut after year-long delay (Cointelegraph)

Coinbase Launches Messaging, No One Cares 🚥

Coinbase Wallet is introducing a new messaging feature that is end-to-end encrypted, private, and portable.

I’m already overwhelmed keeping up with Whatsapp, Signal, and Telegram. And Coinbase thinks we want another messaging app? These product ppl need to take a sixth vacation and touch some grass.

Core product features:

• The messaging feature is powered by the XMTP protocol, which allows users to connect directly through their wallets and send payments across thousands of coins.

• Its only rolled out to small subset of users, including all Lens protocol users

• You can message anyone with .eth, .cb.id, or .lens addresses, or connect with other holders of the same POAP via token-gated messaging.

• With messaging, you can also pay others using any crypto asset supported by Coinbase Wallet.

Here are a few reasons why I think the new messaging feature from Coinbase Wallet is a bad idea and no one will use it:

• Signal, Whatsapp, and Telegram already have billions of users and are products built around messaging. That’s what they do. Why not integrate Coinbase Wallet into an already proven app to acquire a new user base??

• Coinbase users want more coins and tokens, lower transaction fees, smoother user experience to make P2P transactions. Let me add a note to my buddy when I send him some ETH. I don’t need to message him in another app.

• There is no incentive for users to switch to this messaging platform from the ones they are already using.

TLDR; Coinbase messaging is a poorly thought-out idea. It won’t work. There are too many barriers to adoption, and the feature does not offer anything that users cannot already get from other, more popular messaging platforms.

Coinbase Wallet would be better off focusing on improving its existing features. Improve your dead NFT marketplace or incorporate more DeFi utility. These are areas where y’all have an actual competitive advantage, and they are more likely to attract users than a new messaging feature.

We’ll revisit this topic in three months and see if we’re right.

Freaky Friday 😱

Drake kicked off his “It’s All a Blur” Tour this last week, and he’s using AR like we haven’t seen before

As you can see above, Drake is sitting next to a younger, “Degrassi”, version of himself. But it’s not a hologram, it’s a real actor who’s face doesn’t really look like that.

According to the AI expert at Buzzfeed, “it likely isn’t a deepfake, because it can't be done in real time, but Drake’s team might be using an AR face swap, which is technology that would allow them to swap faces with someone on camera in real-time”

This is the biggest jump in on stage fakes since the iconic Tupac hologram at Coachella. Having said that, it’s also scary that this is possible. In 15 years are we going to be able to tell what’s real and what’s not? Will we even care?

AI Intel 🤖

• Bard: Google's ChatGPT rival launches in Europe and Brazil (BBC)

• Elon Musk launches his new company, xAI (CNBC)

• AI trend drives rise in students wanting to study computing (BBC)

• 27% of jobs at high risk from AI revolution, says OECD (Reuters)

• Hollywood AI backlash: What striking writers and actors fear about tech replacing roles (Independent)

Conference Corner 📅

ETH CC Paris is is next up… from July 17-20 🇫🇷

We are spotlighting our Disco – if you will be in town it’s a can’t miss on Wednesday night, July 19th.

As always, we’re providing our readers with the side event alpha:

Shameless Shill + Alpha

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DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell assets or make financial decisions. Please be careful and do your own research