Daily Crypto NewsEDITION #536, 30 June 2022

Coinbase has sold us all out

Hey Moni Maker 🤬

Today is Asteroid Day at the United Nations. Well, as it's celebrated, the day was intended as an extra reminder that dangers lurk in space too. Yes, yes, you live like that, you think about rekts and charts, and somewhere far, far away, asteroids are crashing into each other. And when you think about it, your whole life starts to seem so small...and so do your problems, btw.

Let’s go! 

What's the crypto narrative right now? Right, no good news. Rumours of the USDC and USDT depeg, Arbitrum couldn't take it and stopped its Odyssey. Hmmm...oh, here's more great news! 

Analyst company Tech Inquiry showed the world the details of the Coinbase exchange. Apparently, the exchange signed a contract with the U.S. Department of Homeland Security. The contract states that Coinbase discloses all customer transactions, geo-positions and relocation data to the authorities. Analysts say that all of this happens in real time. So on and on and on. 

So what? 

It has long been apparent to those who live in crypto in real time (just like Coinbase leaks data :D) that centralized exchanges are no different from banks. And Coinbase certainly isn't. So don't get even more discouraged by such news. But let's put a poop reaction! 

Chainalysis conducted a study of 10 major DAO projects and found that, on average, less than one per cent of all holders have around 90 per cent of the vote. So much for decentralisation.

The report highlights that while all management token holders had a say, the ability to make a new proposal to the community and accept it was not such an accessible thing for all participants. 

Read more on our website 

Stop Loss is a type of order which allows you to limit possible losses. In case of a price reversal against a trade, such an order will close an unprofitable position with a pre-planned loss.

And more you can find in our Glossary!

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