Crypto News

Democrats are stepping up their game against crypto deregulation, warning of national security threats and financial instability as Republicans speed up their pro-crypto legislative agenda. U.S. Representative Stephen Lynch of Massachusetts and Representative Maxine Waters of California announced on July 11 that they “will lead Democrats in opposition to Republicans’ efforts to jam through the House three dangerous pieces of crypto legislation, including the so-called ‘CLARITY Act,’ the ‘GENIUS Act,’ and a bill banning a central bank digital currency.”

So, strap in, dear reader. BeInCrypto has pulled up its socks and examined three Made in USA coins that might just face a bumpy road ahead.

Market analyst The Kobeissi Letter, in a stroke of genius, has decided to measure the S&P 500 against the almighty Bitcoin, revealing a tale of dramatic proportions. Since 2012, the index has plummeted by nearly 100% when compared to Bitcoin, according to data from Bitbo. Imagine, if you will, the investors who, with steadfast resolve, chose Bitcoin over the traditional stock market. They now bask in the glow of their massive gains, a testament to the power of digital currency. 🌟

Oh dear! Conspiracy theories have a way of blossoming like mushrooms after a lovely rain, and among the most persistent in the cryptocurrency world is the downright goofy notion that the NSA is the mastermind behind Bitcoin. This whimsical tale hinges on a paper from 1996 called “How to Make a Mint: The Cryptography of Anonymous Electronic Cash,” penned by clever NSA cryptographers. But when you put on your fact-finding glasses, you’ll discover the gaping holes in this argument, revealing that the NSA didn’t — and couldn’t — have invented Bitcoin at all! 🤦‍♂️

JPMorgan Chase, Bank of America, Wells Fargo, and Citigroup, according to the ever-watchful eye of S&P Global, are collectively holding a staggering $172.28 billion in unrealized losses on their HTM securities as of March 31st. That’s more than the GDP of some small countries, and it’s not exactly the kind of wealth you can flaunt at a cocktail party.

The Wall Street Journal, for instance, published a grand total of two Bitcoin articles. Two! That’s about as much coverage as you’d get for a new flavor of cat food. The Financial Times and The New York Times each managed to squeeze out 11 articles, which is more than the WSJ, but still, it’s like they’re playing a game of “how little can we say about Bitcoin and still call it coverage.”

However, beneath the polished veneer lies the wily mechanism of revenue generation. Uthmeier points a finger at Robinhood, noting how it wields a Payment-for-Order-Flow (PFOF) system that might charm the unsuspecting but ensnares them in the web of higher costs. It’s a delicate dance of deception, where the promise of low expenses crumbles under the weight of profit motives—oh, the irony! 💸

But wait, there’s more than just price action behind Injective’s meteoric rise. On Friday, Injective unveiled the Injective Council, a strategic body packed with bigwigs from Fortune 500 companies and top-tier Web2 organizations. This council is the *real* deal—a game-changer in their mission to shove the blockchain into the real world, whether you’re ready for it or not.

But fear not, dear reader, for Tether hath a plan most ingenious. The firm shall redirect its focus to the Lightning Network, and to newer blockchains that promise faster settlement and richer developer tooling. ‘Tis a brave new world, indeed! 🌐

According to reports, the user, who we can only assume had a sense of humor, “paid for a nicer smile” by selecting Shiba Inu in the app’s bill-pay feature. The identity of the patient and the clinic remain under wraps, but the move highlights a small yet growing group of businesses willing to accept meme coins for real-world services. After all, why stick to boring old dollars when you can use a coin named after a dog? 🐾