Daily Crypto NewsEDITION #539, 05 July 2022

Regulators, like chickens, come home to regulate

Hey Moni Maker 🏦

Today, in 1994, China banned the use of child labour. And kudos to Satoshi for prohibiting it! In our opinion, young people should flip NFT, abuzz whitelists and post on Telegram rather than work in a factory for food. Cryptocurrency fixes it, as they say.

Let’s go! 

There's a character in crypto who has become a meme - Peter Schiff. He's known for the fact that...he hates bitcoin. He sees; that's there; that's why he likes to tweet about the "imminent collapse of BTC", thus incurring the holy wrath of crypto dogs on Twitter. So what? 

Schiff has Pacific Bank. So the Puerto Rican regulator stopped it and froze all its accounts. Uncle the regulator says the bank is insolvent, so he's stopping it until July 7 this year. Schiff parries: 

"They want to liquidate it so the media, the IRS, and the J5 can pretend it's being shut down for tax evasion and money laundering, even though there was no evidence of either at the bank."

But apart from "not my fault enemies are everywhere", Schiff admitted that his bank did not meet Puerto Rico's minimum capital requirements. The reason - "We were newbies to Puerto Rico and kept less money than we should have." 

Proceedings are underway, and Schiff wants to sell the bank, but he says the sale has also been frozen... 

The moral of this fable is: 'Regulators, like chickens, come home to regulate '...

If you're a developer, there's a way to raise the dough. NEAR announces the Web4 online hackathon, and we'll tell you what it is.

Web4 is a framework that offers a new way to distribute dApps. Now we don't need an intermediary in the form of a web-hosting or server to create a user interface; the smart contract itself can become a website, providing easy access to the execution of blockchain functions through the browser.

The hackathon prize fund is $2,000 USN ($1,000 USN for first place and $250 each for places 2-5); all comers are welcome, both teams and individual developers. For details, registration and stuff like that, go here.

Good luck out there, bro. 

All year long Yuga Labs and their collections keep popping up along with some hot sh!t; what is it this time? This time the ape creators are going to court to punish a fascinating individual for defamation.

Ryder Ripps is the kind of internet provocateur and part-time artist who has worked for Nike, Bruno Mars and Yuga Labs. He's the one who made the FUD wave about the Nazi Easter eggs in BAYC, but he won't be dragged to court for slander but copyright infringement. In May 2022, Ripps launched an NFT collection using the same images, logos and marks belonging to BAYC and made almost two million
quid.

The community has already reacted negatively, but copyrights are copyrights, and the most humane American court will sort it out. The situation has already sparked public interest; it has become more detailed and will undoubtedly leave its mark on the development of JPEGs as property.

Roadmap is a simple graphical overview of the project goals, which are placed on the timeline.

And more you can find in our Glossary!

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