Coming every Saturday, Hodler’s Digest will help you track every single important news story that happened this week. The best (and worst) quotes, ado
Coming every Saturday, Hodler’s Digest will help you track every single important news story that happened this week. The best (and worst) quotes, adoption and regulation highlights, leading coins, predictions and much more — a week on Cointelegraph in one link.
Top Stories This Week
Former Cisco employee launches DAO to buy Denver Broncos
A freshly launched decentralized autonomous organization dubbed BuyTheBroncosDAO is aiming to raise enough capital to purchase the NFL’s Denver Broncos for roughly $4 billion.
The project is offering fans of various levels of wealth the chance to own a slice of the Broncos, as there is no minimum requirement on how much they need to contribute to participate to the DAO.
“The purpose, essentially, is to establish an infrastructure so that fans from all walks of life can be owners of the Denver Broncos,” one of the DAO’s organizers and former Cisco employee Sean O’Brien told CNBC earlier this week.
Dogecoin founder speaks out against ‘meme coins’
Dogecoin co-founder Billy Markus blasted memecoin shillers this week, slamming projects that are not about memes or the community but are instead “made by people trying to get rich off of other people trying to get rich.”
“Satire has some mildly clever elements to it. jokes are funny. spam advertising, lying about who is involved in a project, making up ridiculous promises, desperately trying to get Elon’s attention to promote you, etc. are not clever or amusing,” he said on Twitter.
Markus highlighted Binance Smart Chain tokens, in particular, arguing that they have “made the internet worse in every way,” as he pointed to the mass amount of spammers who flood social media platforms with their dubious crypto advertisements.
Bitcoin plunges as Putin announces ‘special military operation’ in Ukraine
The crypto market tanked on Thursday following reports that the Russian government had invaded Ukraine, with assets such as Bitcoin, Ether and XRP dropping 7.3%, 9.5% and 9.2% respectively.
The news of the invasion sparked major pushback from people across the globe, including members of the crypto community. Ethereum co-founder Vitalik Buterin, who was born in Russia, condemned the move on Twitter, stating:
“This is a crime against the Ukrainian and Russian people. I want to wish everyone security, although I know that there will be no security. Glory to Ukraine.”
By Friday, crypto markets reversed their post-Russian invasion declines after the United States announced it would be implementing sanctions against major Russian banks.
Trudeau revokes emergencies act powers but the case for crypto grows
Canadian Prime Minister Justin Trudeau walked back the use of the Emergencies Act on Thursday. The order was invoked in the wake of mass protests across the country, including at critical border crossings between the United States and Canada. The order allowed the government to freeze $8 million from 210 bank accounts connected to Canadian “Freedom Convoy” protestors.
The highly contentious situation in Canada appears to be calming down now, however, with Trudeau noting that “we are confident that existing laws and bylaws are now sufficient to keep people safe.”
The move to invoke the Emergencies Act one week prior caused a lot of pushback and debate; it also reiterated the viability of crypto, as the protestors were able to fundraise around 21 BTC after being shut off from banks and popular crowdfunding platforms such as GoFundMe.
Tourism in El Salvador up 30% since Bitcoin adoption, minister says
Earlier this week Salvadoran Tourism Minister Morena Valdez claimed that the nation’s tourism industry surged more than 30% since the adoption of the Bitcoin Law in September 2021.
In particular, Valdez stated that the influx of tourists from the U.S. has increased significantly to represent 60% of all travelers heading to the country at the tail end of 2021.
“We did a poll to check the activity according to the before and after of Bitcoin. The tourism sector increased in November and December. This increased by more than 30%,” Valdez said in an interview with the local news agency El Salvador News English.
Winners and Losers
At the end of the week, Bitcoin (BTC) is at $39,335, Ether (ETH) at $2,718 and XRP at $0.71. The total market cap is at $1.76 trillion, according to CoinMarketCap.
Among the largest 100 cryptocurrencies, the top three altcoin gainers of the week are Anchor Protocol (ANC) at 63.75%, Terra (LUNA) at 32.59% and Maker (MKR) at 4.13%.
The top three altcoin losers of the week are Convex Finance (CVX) at -27.07%, Harmony (ONE) at -19.65% and Oasis Network (ROSE) at -19.41%.
For more info on crypto prices, make sure to read Cointelegraph’s market analysis.
Most Memorable Quotations
“Politicians who oppose Bitcoin are of the same brand as those who opposed the internet. It’s also an indicator of where they’re getting their money.”
Aarika…
cointelegraph.com