Crypto News of The Week: MetaMask is Planning a DAO, Bitcoin Bounced Back to $41,000, and More

Source: Cheddar News  

MetaMask has surpassed 30 million users and is planning a DAO and its own token. Somehow, this little drama involves Joseph Lubin, founder of ConsenSys. A group of ConsenSys AG shareholders sued Lubin earlier this year over alleged irregularities regarding CAG intellectual property. ConsenSys is the company that developed MetaMask and the lawsuit reveals that JPMorgan owns a stake in that asset, which shareholders weren’t aware of. Yikes! ConsenSys is now valued at $7 billion due to a recent $450 million capital raise. Microsoft was one of the investors.

Bitcoin bounced back over $41,000. A good sign?

Binance is now licensed to operate in Bahrain. Its U.S. branch is a little bit closer to acceptance in all 50 states. Hawaii, Texas, New York, Idaho, and Vermont are the hold-out states. In order to sync nodes, the crypto exchange temporarily halted Polygon transactions yesterday. Don’t you just love the ebbs and flows?

The Bored Ape Yacht Club is gearing up to sell virtual land in the metaverse. If you’re not sure what the metaverse is, VICE will break it down for you (a pretty doggone good read, even if you do know what the metaverse is). Three big companies getting into the metaverse:

• Amazon (almost in)
• American Express
• Adobe

3 solutions for quantifying community reputation scores with social tokens (an awesome read).

Last month, the Marshall Islands recognized DAOs as legal entities. As the United States explores what cryptocurrencies are capable of and scratching its head about how to regulate, legislate, and implement digital money, the small island in the Pacific became the first sovereign nation to recognize the legality of decentralized autonomous organizations. Although, Wyoming beat them to the punch by a few months. The question is why Marshall Islands? What’s so special about that little crop of land?

Now that Facebook’s/Meta’s Diem has thrown in the towel, some members of the Diem coding team have launched Aptos to resurrect the project and have raised $200 million smackaroos.

What’s up with all those crypto ads in 2022?

Are you a noicoiner? If not, you probably know one, and it may mean something you weren’t aware of.

Is Austin, Texas the next major U.S. city to embrace crypto?

I bet-a you never met a Meta with an NFT.

If you’ve been wondering, here’s how centralized crypto lenders get high yields for their customers. Gauntlet, a risk modeling platform for crypto lending, has raised a round of capital that pushes it into unicorn status. Nice horn, dude!

Car buyers can now finance their transactions with cryptocurrency thanks to CarNow and Cion Digital.

NextAdvisor says KuCoin isn’t the best crypto exchange for beginners.

Are you buckled up and ready for the long, wild NFT ride? Here are 5 use cases you may not have thought of. Oh, and of course, digital identity makes No. 6—if you lose your baggage. The popular blockchain-based gaming platform Enjin has launched a Polkadot parachain dedicated to NFTs and they’re calling it Efinity. That’s as good a name as any, I suppose.

Want to invest in Web3? Hashdex will help you.

3 problems blockchains can solve with real estate transactions. Says the Fool.

Former Acting Assistant Treasury Secretary Gregory Zerzan goes after President Joe Biden’s executive order on crypto, saying “the only thing not blamed on cryptocurrencies is COVID-19.” There are better ways for making a name for yourself, IMHO. Meanwhile, the Tenth Amendment Center tells how the government uses regulation to “get your money.” In this case, “money” means crypto.

Do cryptocurrencies thrive on stability or “global disorder?” Some positions are simply untenable.

Deus Finance DAO got hit with a $3 million flash loan attack.

MotorDAO wants to finance professional race teams.

Some DAOs want Utah to be the place for Web3 to thrive.

The U.S. labor department says be cautious about adding crypto to your 401k plan. Of course, caution is a good thing anyway.

Editorial snark in italics.

Cryptocracy is a decentralized newsletter published 4 times a week. I curate the latest news and crypto analysis from some of the brightest minds in crypto, and sometimes offer a little insightful and snarky commentary. Always fresh, always interesting, and always crypto.

First published here. Not to be construed as financial advice.