Ethereum (ETH) is a cryptocurrency . Users are able to generate ETH through the process of mining. Ethereum has a current supply of 119,786,758.749. The last known price of Ethereum is 2,941.86480327 USD and is down -0.22 over the last 24 hours. It is currently trading on 5527 active market(s) with $18,115,041,131.55 traded over the last 24 hours. More information can be found at https://www.ethereum.org/.

Ethereum

BNB Smart Chain (BEP20)

Avalanche C-Chain

TomoChain

Sora

RSK RBTC

Velas

Solana

HECO

<h2 id="key-metrics"><strong>Key metrics</strong></h2>
<ul class="has-normal-font-size">
<li>Token Name:&nbsp;<strong>Ethereum</strong></li>
<li>Ticker:&nbsp;<strong>$ETH</strong></li>
<li>Blockchain:&nbsp;<strong>Ethereum</strong></li>
<li>Token Standard:
<ul>
<li><a href="https://ethereum.org/en/developers/docs/standards/tokens/erc-20/" target="_blank" rel="noreferrer noopener"><strong>ERC-20</strong></a>&nbsp;&ndash; A standard interface for fungible (interchangeable) tokens, like voting tokens, staking tokens or virtual currencies.</li>
<li><a href="https://ethereum.org/en/developers/docs/standards/tokens/erc-721/" target="_blank" rel="noreferrer noopener"><strong>ERC-721</strong></a>&nbsp;&ndash; A standard interface for non-fungible tokens, like a deed for artwork or a song.</li>
<li><strong><a href="https://ethereum.org/en/developers/docs/standards/tokens/erc-777/" target="_blank" rel="noreferrer noopener">ERC-777</a></strong>&nbsp;&ndash; Allows people to build extra functionality on top of tokens such as a mixer contract for improved transaction privacy or an emergency recover function to bail you out if you lose your private keys.</li>
<li><a href="https://ethereum.org/en/developers/docs/standards/tokens/erc-1155/" target="_blank" rel="noreferrer noopener"><strong>ERC-1155</strong></a>&nbsp;&ndash; Allows for more efficient trades and bundling of transactions &ndash; thus saving costs. This token standard allows for creating both utility tokens (such as $BNB or $BAT) and Non-Fungible Tokens like CryptoPunks</li>
</ul>
</li>
<li>Token Type:&nbsp;<strong>Utility, Governance</strong></li>
<li>Total Supply:&nbsp;<strong>118,468,222</strong></li>
<li>Circulating Supply:&nbsp;<strong>118,468,221.87 ETH</strong></li>
</ul>
<h2 id="token-supply-distribution"><span id="Token_Supply_Distribution" class="ez-toc-section"></span><strong>Token Supply Distribution</strong></h2>
<p>The Ethereum Foundation managed the original token distribution event, which sold about 60 million ethers (80 percent of the initial 72 million ETH supply) to the public. The auction took place between July 22nd and September 2nd, 2014.</p>
<p>However, before the Genesis Block was launched on July 31, 2015, the Ether purchased by crowdsale investors was not usable or transferrable. The price of ether was first established at a discounted rate of 2000 ETH per BTC until August 5, 2019, before dropping linearly to a final rate of 1337 ETH per BTC on August 28, 2014.</p>
<ul class="has-normal-font-size">
<li>In the first 12 hours of the sale,&nbsp;<strong>3,700 BTC were raised.</strong></li>
<li>In the first two weeks, about&nbsp;<strong>25,000 BTC were raised.</strong></li>
<li>The Ethereum Foundation eventually&nbsp;<strong>raised approximately 31,000 BTC</strong>,<strong>&nbsp;or $18.3 million, as a result of the sale</strong>.</li>
</ul>
<p>The remaining 12 million ETH (20% of the initial supply) went to the Foundation and early Ethereum contributors. The following ether was sent to the Foundation:</p>
<ul class="has-normal-font-size">
<li>3 million were set aside for a long-term endowment.</li>
<li>6 million dollars were divided among 85 developers who donated prior to the crowdsale.</li>
<li>3 million were created as a &ldquo;developer purchase program,&rdquo; which allowed Ethereum developers to buy ether at crowdsale pricing.</li>
</ul>
<h2 id="roadmap-business-development"><span id="Roadmap_Business_Development" class="ez-toc-section"></span><strong>Roadmap Business Development</strong></h2>
<h3 id="ethereum-2-0-roadmap">Ethereum 2.0 Roadmap</h3>
<p>The release of Ethereum 2.0 is divided into three parts:</p>
<ul class="has-normal-font-size">
<li><strong>The Beacon Change</strong></li>
<li><strong>The Merge</strong></li>
<li><strong>The Shard chains</strong></li>
</ul>
<p><strong>In December 2020, the Beacon Change (Phase 0)</strong>, which implemented the PoS algorithm, was first launched.&nbsp;<strong>PoS algorithms use less energy than PoW algorithms and are used in Cardano staking.</strong>&nbsp;Ethereum Staking is currently being tested, it will be released in 2022</p>
<p>&lsquo;<strong>The merge&rsquo; is the next stage.</strong>&nbsp;This significant phase will see the integration of the Beacon Chain into the mainnet and the end of PoW algorithms. &lsquo;The merger&rsquo; is&nbsp;<strong>expected to take place in 2021.</strong></p>
<p><strong>Shard chains will be implemented as the final upgrade planned for ETH2.0 This is scheduled for 2022.</strong>&nbsp;Because transactions can be split across 64 new chains, introducing sharding to Ethereum 2.0 should allow for increased scaling of Ethereum.</p>
<p>Ethereum co-founder Vitalik Buterin defined scalability as&nbsp;<strong>&ldquo;even more vital than Proof-of-Stake&rdquo;</strong>&nbsp;in&nbsp;<a href="https://www.facebook.com/suss.sg/videos/1174940702643388" target="_blank" rel="noreferrer noopener">a keynote speech at the Singapore University of Social Sciences.</a></p>
<h2 id="updates"><span id="Updates" class="ez-toc-section"></span><strong>Updates</strong></h2>
<h3 id="altair-upgrade">Altair Upgrade</h3>
<p>Altair is the first upgrade for Ethereum 2.0&rsquo;s Beacon Chain that has been launched on October 27, and it represents another significant step toward the complete release of ETH 2.0. The Beacon Chain augments the Ethereum network with staking and will eventually combine with the mainnet to eliminate Ethereum mining.</p>
<p>In conclusion, this upgrade, as detailed in&nbsp;<strong><a href="https://eips.ethereum.org/EIPS/eip-2982#initial-punitive-parameters/" target="_blank" rel="noreferrer noopener">EIP-2982</a></strong>, will introduce punitive parameters, or in-protocol penalties, for validators in order to further secure the network.</p>

Token Economics

All about

<h1 id="conclusion" class="has-luminous-vivid-orange-color has-text-color">Conclusion</h1>
<h2 id="pros"><span id="Pros" class="ez-toc-section"></span><strong>Pros</strong></h2>
<ul class="has-normal-font-size">
<li>Existing network is extensive. The pros of Ethereum include a tried-and-true network that has been tested over years of operation and billions of dollars changing hands. It has the greatest ecosystem in blockchain and cryptocurrency, as well as a vast and committed global community.</li>
<li>A variety of functions are available. Ethereum can be used to perform different forms of financial transactions, execute smart contracts, and store data for third-party applications in addition to being utilized as a digital currency.</li>
<li>Constant improvement. A sizable community of Ethereum developers is always seeking for new methods to improve the network and create new applications.</li>
<li>Ethereum&rsquo;s decentralized network promises to let users leave behind third-party intermediaries, like lawyers who write and interpret contracts, banks that are intermediaries in financial transactions or third-party web hosting services.</li>
</ul>
<h2 id="cons"><span id="Cons" class="ez-toc-section"></span><strong>Cons</strong></h2>
<ul class="has-normal-font-size">
<li>Increasing transaction costs The increasing popularity of Ethereum has resulted in rising transaction prices. Ethereum transaction costs, often known as&nbsp;<strong>&ldquo;gas,&rdquo; reached a new high of $23 per transaction in February 2021</strong>. This is due to the fact that, unlike Bitcoin, where the network rewards transaction verifiers, Ethereum compels individuals involved in the transaction to pay the cost.</li>
<li>Crypto inflation is a possibility.&nbsp;<strong>While Ethereum has an annual limit of 18 million Ether</strong>, there is no lifetime limit on the amount of currencies that can be created. This could imply that, as an investment, Ethereum will behave more like dollars and will not appreciate as much as Bitcoin, which has a strict lifespan restriction on the number of tokens that can be created.</li>
<li>Developers have a steep learning curve. As developers transition from centralized processing to decentralized networks, Ethereum can be challenging to learn.</li>
<li>The future is unknown. Ethereum is still evolving and improving, and the ongoing development of Ethereum 2.0 promises additional functions and increased efficiency. This large network overhaul, on the other hand, creates uncertainty for apps and agreements that are now in use.</li>
<li>According to DeWaal,&nbsp;<strong>&ldquo;many new validators will be necessary for Ethereum 2.0 to function.&rdquo;</strong>&nbsp;&ldquo;The question is, will the move be successful?&rdquo; There are a lot of fresh elements that need to come together!&rdquo;</li>
</ul>
<h2 id="ethereum-vs-bitcoin"><span id="Ethereum_vs_Bitcoin" class="ez-toc-section"></span><strong>Ethereum vs Bitcoin</strong></h2>
<p>Bitcoin&rsquo;s primary purpose is to function as a virtual currency and a store of value. Although Ether can be used as a virtual currency and a store of value, the decentralized Ethereum network allows for the creation and execution of applications, smart contracts, and other transactions on the network. These functions are not available in Bitcoin. It is only used as a form of currency and a store of value.</p>
<p>Ethereum also has a faster transaction processing time.&nbsp;<strong>On the Bitcoin network, new blocks are validated every 10 minutes</strong>, whereas,&nbsp;<strong>on the Ethereum network, new blocks are validated every 12 seconds</strong>. Furthermore, future developments may accelerate Ethereum transactions even further.</p>
<p><strong>Finally, there is no limit to the number of potential Ether tokens, whereas Bitcoin will only release 21 million coins.</strong></p>
<figure id="Ethereum" class="wp-block-video aligncenter"></figure>
<p>Overall,&nbsp;<strong>Ethereum was the first to introduce the concept of a blockchain smart contract platform.</strong>&nbsp;Smart contracts are computer programs that automatically carry out the actions required to fulfill an agreement reached between multiple parties over the internet. They were created to eliminate the need for trusted intermediaries between contractors, lowering transaction costs while increasing transaction reliability.</p>
<p>The main innovation of Ethereum was the creation of a platform that allowed it to execute smart contracts using the blockchain, which reinforces the already existing benefits of smart contract technology.</p>
<p>According to co-founder Gavin Wood, Ethereum&rsquo;s blockchain was designed as a sort of &ldquo;one computer for the entire planet,&rdquo; theoretically capable of&nbsp;<strong>making any program more robust, censorship-resistant, and less prone to fraud by running it on a globally distributed network of public nodes.</strong></p>
<p>Through the use of its ERC-20 compatibility standard, Ethereum&rsquo;s blockchain can host other cryptocurrencies known as &ldquo;tokens&rdquo; in addition to smart contracts. Indeed, this has been the most common use of the ETH platform thus far, with over 280,000 ERC-20-compliant tokens launched to date.</p>
<p>Over 40 of these, such as USDT, LINK, and BNB, are among the top-100 cryptocurrencies in terms of market capitalization. Since the introduction of Play2Earn games, there has been a significant increase in interest in the ETH to PHP exchange rate.</p>
<p><strong>Find out more about Ethereum:</strong></p>
<p><strong>Website</strong>:&nbsp;<a href="https://ethereum.org/en/" target="_blank" rel="noreferrer noopener">https://ethereum.org/en/</a></p>
<p><strong>Twitter:</strong>&nbsp;<a href="https://twitter.com/ethereum/" target="_blank" rel="noreferrer noopener">https://twitter.com/ethereum/</a></p>
<p><strong>GitHub:</strong>&nbsp;<a href="https://github.com/ethereum/ethereum-org-website" target="_blank" rel="noreferrer noopener">https://github.com/ethereum/ethereum-org-website</a></p>
<p><strong>Discord:</strong>&nbsp;<a href="https://discord.gg/CetY6Y4" target="_blank" rel="noreferrer noopener">https://discord.gg/CetY6Y4</a></p>
<p><strong>Youtube:</strong>&nbsp;<a href="https://youtube.com/channel/UCNOfzGXD_C9YMYmnefmPH0g" target="_blank" rel="noreferrer noopener">https://youtube.com/channel/UCNOfzGXD_C9YMYmnefmPH0g</a></p>
<p>If you have any questions, comments, suggestions, or ideas about the project, please email&nbsp;<a href="mailto:ventures@coincu.com" target="_blank" rel="noreferrer noopener">ventures@coincu.com</a>.</p>
<p><strong>DISCLAIMER:</strong>&nbsp;The Information on this website is provided as general market commentary, and does not constitute investment advice. We encourage you to do your own research before investing.</p>

Veridct 

description

<div>
 <div>
  <div class="sc-2qtjgt-0 eApVPN">
   <div>
    <h2 id="what-is-ethereum-eth">
     What Is Ethereum (ETH)?
    </h2>
    <p>
     Ethereum is a decentralized open-source
     <a href="#">
      blockchain
     </a>
     system that features its own cryptocurrency, Ether. ETH works as a platform for numerous other
     <a href="#">
      cryptocurrencies
     </a>
     , as well as for the execution of decentralized
     <a href="#">
      smart contracts
     </a>
     .
    </p>
    <p>
     Ethereum was first described in a 2013 whitepaper by Vitalik Buterin. Buterin, along with other co-founders, secured funding for the project in an online public crowd sale in the summer of 2014. The project team managed to raise $18.3 million in Bitcoin, and Ethereum’s price in the
     <a href="#">
      Initial Coin Offering
     </a>
     (ICO) was $0.311, with over 60 million Ether sold. Taking Ethereum’s price now, this puts the
     <a href="#">
      return on investment
     </a>
     (ROI) at an annualized rate of over 270%, essentially almost quadrupling your investment every year since the summer of 2014.
    </p>
    <p>
     The Ethereum Foundation officially launched the blockchain on July 30, 2015, under the prototype codenamed “Frontier.” Since then, there has been several network updates — “Constantinople” on Feb. 28, 2019, “Istanbul” on Dec. 8, 2019, “Muir Glacier” on Jan. 2, 2020, “Berlin” on April 14, 2021, and most recently on Aug. 5, 2021, the “London”
     <a href="#">
      hard fork
     </a>
     .
    </p>
    <p>
     Ethereum’s own purported goal is to become a global platform for decentralized applications, allowing users from all over the world to write and run software that is resistant to censorship, downtime and fraud.
    </p>
    <h3 id="who-are-the-founders-of-ethereum">
     Who Are the Founders of Ethereum?
    </h3>
    <p>
     Ethereum has a total of eight
     <a href="#">
      co-founders
     </a>
     — an unusually large number for a crypto project. They first met on June 7, 2014, in Zug, Switzerland.
    </p>
    <ul>
     <li>
      Russian-Canadian
      <a href="#">
       Vitalik Buterin
      </a>
      is perhaps the best known of the bunch. He authored the original white paper that first described Ethereum in 2013 and still works on improving the platform to this day. Prior to ETH, Buterin co-founded and wrote for the Bitcoin Magazine news website.
     </li>
     <li>
      British programmer
      <a href="#">
       Gavin Wood
      </a>
      is arguably the second most important co-founder of ETH, as he coded the first technical implementation of Ethereum in the C++ programming language, proposed Ethereum’s native programming language Solidity and was the first chief technology officer of the Ethereum Foundation. Before Ethereum, Wood was a research scientist at Microsoft. Afterward, he moved on to establish the Web3 Foundation.
     </li>
    </ul>
    <p>
     Among the other co-founders of Ethereum are: - Anthony Di Iorio, who underwrote the project during its early stage of development. -
     <a href="#">
      Charles Hoskinson
     </a>
     , who played the principal role in establishing the Swiss-based Ethereum Foundation and its legal framework. - Mihai Alisie, who provided assistance in establishing the Ethereum Foundation. -
     <a href="#">
      Joseph Lubin
     </a>
     , a Canadian entrepreneur, who, like Di Iorio, has helped fund Ethereum during its early days, and later founded an incubator for startups based on ETH called ConsenSys. - Amir Chetrit, who helped co-found Ethereum but stepped away from it early into the development.
    </p>
    <h4 id="what-makes-ethereum-unique">
     What Makes Ethereum Unique?
    </h4>
    <p>
     Ethereum has pioneered the concept of a blockchain smart contract platform. Smart contracts are computer programs that automatically execute the actions necessary to fulfill an agreement between several parties on the internet. They were designed to reduce the need for trusted intermediates between contractors, thus reducing transaction costs while also increasing transaction reliability.
    </p>
    <p>
     Ethereum’s principal innovation was designing a platform that allowed it to execute smart contracts using the blockchain, which further reinforces the already existing benefits of smart contract technology. Ethereum’s blockchain was designed, according to co-founder Gavin Wood, as a sort of “one computer for the entire planet,” theoretically able to make any program more robust, censorship-resistant and less prone to fraud by running it on a globally distributed network of public nodes.
    </p>
    <p>
     In addition to smart contracts, Ethereum’s blockchain is able to host other cryptocurrencies, called “tokens,” through the use of its ERC-20 compatibility standard. In fact, this has been the most common use for the ETH platform so far: to date, more than 280,000 ERC-20-compliant tokens have been launched. Over 40 of these make the top-100 cryptocurrencies by market capitalization, for example,
     <a href="#">
      USDT
     </a>
     ,
     <a href="#">
      LINK
     </a>
     and
     <a href="#">
      BNB
     </a>
     . Since the emergence of
     <a href="#">
      Play2Earn
     </a>
     games, there has been a substantial increase in interest in the
     <a href="#">
      ETH to PHP price
     </a>
     .
    </p>
    <h2 id="ethereum-london-hard-fork">
     Ethereum London Hard Fork
    </h2>
    <p>
     The Ethereum network has been plagued with high transaction fees, often buckling at seasons of high demand. In May 2021, the average transaction fee of the network peaked at
     <a href="#" rel="noopener nofollow" target="_blank">
      $71.72
     </a>
     .
    </p>
    <p>
     In addition to the high cost of transactions, the leading altcoin also suffers from scalability issues.
    </p>
    <p>
     As already mentioned, there are plans to transition to a proof-of-stake algorithm in order to boost the platform’s scalability and add a number of new features. The development team has already begun the transition process to ETH 2.0, implementing some upgrades along the way, including the London hard fork.
    </p>
    <p>
     The London upgrade went live in August 2021. It included five Ethereum Improvement Proposals (EIPs), namely EIP-3529, EIP-3198, EIP-3541, and most notably EIP-1559 and EIP-3554.
    </p>
    <p>
     EIP-1559 is arguably the most popular upgrade out of all the EIPs.
    </p>
    <h3 id="what-is-eip-1559">
     What Is EIP-1559?
    </h3>
    <p>
     The EIP-1559 upgrade introduces a mechanism that changes the way gas fees are estimated on the Ethereum blockchain. Before the upgrade, users had to participate in an open auction for their transactions to be picked up by a miner. This process is known as a “first-price auction,” and as expected, the highest bidder wins.
    </p>
    <p>
     With EIP-1559, this process is handled by an automated bidding system, and there is a set “base fee” for transactions to be included in the next block. This fee varies based on how congested the network is. Furthermore, users who wish to speed up their transactions can pay a “priority fee” to a miner for faster inclusion.
    </p>
    <p>
     EIP-1559 also introduces a fee-burning mechanism. A part of every transaction fee (the base fee) is burned and removed out of circulation. This is intended to lower the circulating supply of Ether and potentially increase the value of the token over time.
    </p>
    <p>
     Interestingly, less than two months after the London upgrade was implemented, the network had burned over $1 billion worth of Ether.
    </p>
    <h4 id="related-pages">
     Related Pages:
    </h4>
    <p>
     New to crypto? Learn how to buy Bitcoin
     <a href="#">
      today
     </a>
     .
    </p>
    <p>
     Want to keep track of Ethereum price live? Download the
     <a hre

<h2 class="MuiBox-root jss1187"><strong>Governance</strong></h2>
<div class="MuiBox-root jss1188">
<h3 class="MuiTypography-root MuiTypography-h3 MuiTypography-gutterBottom">Key Info</h3>
<div class="jss1291">Governance Type: No On-Chain Governance</div>
<div class="MuiBox-root jss1293"><hr class="MuiDivider-root jss558 MuiDivider-light jss559" /></div>
<div class="MuiBox-root jss1294 jss1191">
<p class="MuiTypography-root jss1190 MuiTypography-body2 MuiTypography-paragraph">Ethereum operates similarly to Bitcoin through off-chain, informal governance. In this model, developers can submit protocol upgrades, dubbed Ethereum Improvement Proposals (EIPs), on Ethereum's open-source GitHub repository. Core Ethereum developers then discuss new proposals, with additional input from the extended community. If approved by a majority vote, core developers merge the changes into the base code. To avoid complications post-merge, node operators must update their clients to the latest software.</p>
</div>
<div class="MuiBox-root jss1295"><hr class="MuiDivider-root jss558 MuiDivider-light jss559" /></div>
<h3 class="MuiTypography-root MuiTypography-h3 MuiTypography-gutterBottom">On-Chain Governance Details</h3>
<div class="MuiBox-root jss1296 jss1191">
<p class="MuiTypography-root jss1190 MuiTypography-body2 MuiTypography-paragraph">While Ethereum does not have an official on-chain governance model, it does have a history with coin voting. The three instances listed below are examples of loosely couple coin voting:</p>
<ul>
<li><a class="MuiTypography-root MuiLink-root MuiLink-underlineHover MuiTypography-colorPrimary" href="https://daostats.github.io/proposals.html" target="_blank" rel="noreferrer noopener">DAO proposal votes</a></li>
<li><a class="MuiTypography-root MuiLink-root MuiLink-underlineHover MuiTypography-colorPrimary" href="http://v1.carbonvote.com/" target="_blank" rel="noreferrer noopener">The DAO Carbonvote</a></li>
<li><a class="MuiTypography-root MuiLink-root MuiLink-underlineHover MuiTypography-colorPrimary" href="http://carbonvote.com/" target="_blank" rel="noreferrer noopener">The EIP 186/649/669 Carbonvote</a></li>
</ul>
<p class="MuiTypography-root jss1190 MuiTypography-body2 MuiTypography-paragraph">Loosely coupled coin voting still coordinates the details of the proposal off-chain, but participants submit their votes on-chain, with each vote weighted by the total amount of ether held by that address. Despite the correlation between voting weight and tokens held, users do not submit tokens alongside their votes and are therefore not subject to any direct financial burden. Hence, the loosely coupled label given to this style of governance by Vitalik Buterin.</p>
<p class="MuiTypography-root jss1190 MuiTypography-body2 MuiTypography-paragraph">Ethereum does not have any examples of coin voting as a built-in layer-1 protocol feature (referred to as tightly couple coin voting). But networks miners engage in a tightly couple voting process when determining whether to change the block gas limit.</p>
<p class="MuiTypography-root jss1190 MuiTypography-body2 MuiTypography-paragraph">See more details in Vitalik Buterin's <a class="MuiTypography-root MuiLink-root MuiLink-underlineHover MuiTypography-colorPrimary" href="https://vitalik.ca/general/2017/12/17/voting.html" target="_blank" rel="noreferrer noopener">blog post</a> on blockchain governance</p>
</div>
</div>

Governance

<div class="sc-cnqt8g-0 jivVTJ"><img class="post-preview-image" loading="lazy" src="https://imagesofcmsprod.s3.ap-southeast-1.amazonaws.com/post/1642482147215.png" srcset="https://cdn.decrypt.co/resize/1400/wp-content/uploads/2021/11/twweet3.1@2x.png 1400w, https://cdn.decrypt.co/resize/1400/wp-content/uploads/2021/11/twweet3.1@2x-300x175.png 300w, https://cdn.decrypt.co/resize/1400/wp-content/uploads/2021/11/twweet3.1@2x-768x447.png 768w" alt="this week on crypto twitter" style="max-width:100%;overflow:hidden;width:100%"><div>Illustration by Mitchell Preffer for Decrypt</div></div>
<p class="font-meta-serif-pro font-normal text-lg sm:text-xl sm:leading-9 tracking-px text-body"><span style="font-weight:400">In last week’s Crypto Twitter roundup, we included, “Desperate Housewives”</span> <span style="font-weight:400">star Eva Longoria’s open announcement that she was “</span><a href="https://twitter.com/EvaLongoria/status/1479621718528434178?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1479621718528434178%7Ctwgr%5E%7Ctwcon%5Es1_&amp;ref_url=https%3A%2F%2Fdecrypt.co%2F90038%2Fthis-week-on-crypto-twitter-cryptophunks-vs-bored-apes-bukele-defends-bitcoin-city" target="_blank" class="sc-18vyx5u-0 hhLysY"><span style="font-weight:400">jumping into the #NFT space</span></a><span style="font-weight:400">.” She had asked her 7 million followers for advice on where to start, and the replies were predictably crammed with folk shilling her their NFT projects.</span></p><div class=" flex justify-center items-center"><div class=""><div id="div-gpt-ad-1634801906339-0-90503" data-google-query-id="COOd4f-6uvUCFWyKZgIdsJgD8A"><div id="google_ads_iframe_/22573224304/decrypt_desktop_articles_inline_0__container__" style="border: 0pt none;"><iframe id="google_ads_iframe_/22573224304/decrypt_desktop_articles_inline_0" title="3rd party ad content" name="google_ads_iframe_/22573224304/decrypt_desktop_articles_inline_0" width="300" height="250" scrolling="no" marginwidth="0" marginheight="0" frameborder="0" role="region" aria-label="Advertisement" tabindex="0" sandbox="allow-forms allow-popups allow-popups-to-escape-sandbox allow-same-origin allow-scripts allow-top-navigation-by-user-activation" srcdoc="" style="border: 0px; vertical-align: bottom;" data-google-container-id="1" data-load-complete="true"></iframe></div></div></div></div>
<p class="font-meta-serif-pro font-normal text-lg sm:text-xl sm:leading-9 tracking-px text-body"><span style="font-weight:400">She didn’t dally. On Monday, she changed her profile picture to her first NFT purchase: a World of Women NFT. World of Women is a collection of illustrations by artist Yam Karkai “featuring 10,000 artworks of diverse and powerful women” according to the </span><a href="https://opensea.io/collection/world-of-women-nft" target="_blank" rel="nofollow external noopener" class="sc-18vyx5u-0 hhLysY"><span style="font-weight:400">description</span></a><span style="font-weight:400">. (Karkai made </span><i><span style="font-weight:400">Decrypt</span></i><span style="font-weight:400">’s list of the </span><a href="https://decrypt.co/88533/15-most-innovative-nft-artists-of-2021" target="_blank" class="sc-18vyx5u-0 hhLysY"><span style="font-weight:400">most innovative NFT artists</span></a><span style="font-weight:400"> of 2021.)</span></p>
<div class="tweet-embed-container"><blockquote class="twitter-tweet">
<p lang="en" dir="ltr">Did I do this right? <a href="https://twitter.com/worldofwomennft?ref_src=twsrc%5Etfw" data-wpel-link="internal">@worldofwomennft</a> <br>&nbsp;<a href="https://twitter.com/hashtag/NewProfilePic?src=hash&amp;ref_src=twsrc%5Etfw" data-wpel-link="internal">#NewProfilePic</a> <a href="https://t.co/837jlQXWD9" data-wpel-link="internal">pic.twitter.com/837jlQXWD9</a></p>
<p>— Eva Longoria Baston (@EvaLongoria) <a href="https://twitter.com/EvaLongoria/status/1480658113833275392?ref_src=twsrc%5Etfw" data-wpel-link="internal">January 10, 2022</a></p></blockquote><div class="sc-lsn8jd-0 deJkMi"></div></div>
<p class="font-meta-serif-pro font-normal text-lg sm:text-xl sm:leading-9 tracking-px text-body"></p>
<p class="font-meta-serif-pro font-normal text-lg sm:text-xl sm:leading-9 tracking-px text-body"><span style="font-weight:400">Longoria joins Reese Witherspoon as a World of Women holder. And whether it was thanks to Longoria buying in, or thanks to the collection signing with Guy Oseary for Hollywood reputation (just as </span><a href="https://decrypt.co/83255/bored-ape-yacht-club-nft-film-tv-music-guy-oseary" target="_blank" class="sc-18vyx5u-0 hhLysY"><span style="font-weight:400">Bored Ape Yacht Club has</span></a><span style="font-weight:400">), the </span><a href="https://decrypt.co/90379/world-of-women-ethereum-nfts-surge-bored-apes-hollywood" target="_blank" class="sc-18vyx5u-0 hhLysY"><span style="font-weight:400">price floor surged this week</span></a><span style="font-weight:400">.</span></p>
<h2 style="margin-top:2em;text-align:left" color="#333" class="sc-1t633a1-2 igUuUh">Andre and Klay go crypto</h2><div class="sc-3e2f5m-0 bQkWom"></div>
<p class="font-meta-serif-pro font-normal text-lg sm:text-xl sm:leading-9 tracking-px text-body"><span style="font-weight:400">NBA legend Andre Iguodala announced on Monday that he and Golden State Warriors teammate Klay Thompson are taking part of their salaries in Bitcoin via mobile payment service Cash App.&nbsp;</span></p>
<div class="tweet-embed-container"><blockquote class="twitter-tweet">
<p lang="en" dir="ltr">I’m excited to announce I’m taking part of my salary in BITCOIN w. Cash App! Bitcoin is the future, <a href="https://twitter.com/KlayThompson?ref_src=twsrc%5Etfw" data-wpel-link="internal">@klaythompson</a> and I are both believers. To make bitcoin more accessible, we're giving out $1M in bitcoin back to fans today. Drop your $cashtag w. <a href="https://twitter.com/hashtag/PaidInBitcoin?src=hash&amp;ref_src=twsrc%5Etfw" data-wpel-link="internal">#PaidInBitcoin</a> &amp; follow <a href="https://twitter.com/CashApp?ref_src=twsrc%5Etfw" data-wpel-link="internal">@CashApp</a></p>
<p>— andre (@andre) <a href="https://twitter.com/andre/status/1480616697119711234?ref_src=twsrc%5Etfw" data-wpel-link="internal">January 10, 2022</a></p></blockquote><div class="sc-lsn8jd-0 deJkMi"></div></div>
<p class="font-meta-serif-pro font-normal text-lg sm:text-xl sm:leading-9 tracking-px text-body"></p>
<p class="font-meta-serif-pro font-normal text-lg sm:text-xl sm:leading-9 tracking-px text-body"><span style="font-weight:400">The two NBA stars join a long list of pro athletes who have put part of their salary into Bitcoin, including </span><a href="https://decrypt.co/85023/aaron-rodgers-cash-app-giving-away-1-million-bitcoin" target="_blank" class="sc-18vyx5u-0 hhLysY"><span style="font-weight:400">Aaron Rodgers</span></a><span style="font-weight:400">, </span><a href="https://decrypt.co/86611/odell-beckham-jr-salary-bitcoin-give-away-1m-btc-cash-app" target="_blank" class="sc-18vyx5u-0 hhLysY"><span style="font-weight:400">Odell Beckham Jr.</span></a><span style="font-weight:400">, </span><a href="https://decrypt.co/61593/bitcoin-pushes-russell-okung-up-the-ranks-of-nfl-top-earners" target="_blank" class="sc-18vyx5u-0 hhLysY"><span style="font-weight:400">Russell Okung</span></a><span style="font-weight:400">, and </span><a href="https://decrypt.co/69064/nfl-trevor-lawrence-signs-endorsement-deal-with-blockfolio-ftx" target="_blank" class="sc-18vyx5u-0 hhLysY"><span style="font-weight:400">Trevor Lawrence</span></a><span style="font-weight:400">. (FTX investor and pitchman Tom Brady has said he’d “</span><a href="https://decrypt.co/81511/tom-brady-open-earn-part-salary-bitcoin-ethereum-solana" target="_blank" class="sc-18vyx5u-0 hhLysY"><span style="font-weight:400">love to request that</span></a><span style="font-weight:400">,” but hasn’t.)</span></p>
<p class="font-meta-serif-pro font-normal text-lg sm:text-xl sm:leading-9 tracking-px text-body"></p>

This Week on Crypto Twitter: NBA Stars Buy Bitcoin, Vitalik Welcomes Trolls, FWB DAO Ejects a Co-Founder

<div class="content-inner ">
<p><span style="font-weight: 400;">This man Jack Mallers has a way of finding himself in the middle of historic transactions. This time, the Strike CEO used the recently unveiled Twitter Tips Lightning integration to send $10 instantly to San Salvador. The person at the other end of the line then uses the money to buy coffee in a little-known independent coffee shop. We’re witnessing the fusion of one of the biggest social networks in the world with Bitcoin’s open monetary network.</span></p>
<div class="twitter-tweet twitter-tweet-rendered" style="display: flex; max-width: 500px; width: 100%; margin-top: 10px; margin-bottom: 10px;"><iframe id="twitter-widget-0" class="" style="position: static; visibility: visible; width: 500px; height: 943px; display: block; flex-grow: 1;" title="Twitter Tweet" src="https://platform.twitter.com/embed/Tweet.html?creatorScreenName=edprospero23&amp;dnt=true&amp;embedId=twitter-widget-0&amp;features=eyJ0ZndfZXhwZXJpbWVudHNfY29va2llX2V4cGlyYXRpb24iOnsiYnVja2V0IjoxMjA5NjAwLCJ2ZXJzaW9uIjpudWxsfSwidGZ3X2hvcml6b25fdHdlZXRfZW1iZWRfOTU1NSI6eyJidWNrZXQiOiJodGUiLCJ2ZXJzaW9uIjpudWxsfSwidGZ3X3NwYWNlX2NhcmQiOnsiYnVja2V0Ijoib2ZmIiwidmVyc2lvbiI6bnVsbH19&amp;frame=false&amp;hideCard=false&amp;hideThread=false&amp;id=1441089090628177933&amp;lang=en&amp;origin=https%3A%2F%2Fbitcoinist.com%2Fwatch-jack-mallers-send-10-to-el-salvador-via-twitters-lightning-tips%2F&amp;sessionId=c1d699fb9276735e157c1ba4983c9f0c8f731b47&amp;siteScreenName=bitcoinist&amp;theme=light&amp;widgetsVersion=1890d59c%3A1627936082797&amp;width=500px" frameborder="0" scrolling="no" allowfullscreen="allowfullscreen" data-tweet-id="1441089090628177933"></iframe></div>
<p>&nbsp;</p>
<p><span style="font-weight: 400;">In </span><a href="https://jimmymow.medium.com/announcing-the-strike-api-c18a4e9c54de"><span style="font-weight: 400;">the linked blog post</span></a><span style="font-weight: 400;">, Jack Mallers explains the transaction and its significance:</span></p>
<p style="text-align: center;"><em><strong>Related Reading | <a href="https://bitcoinist.com/jack-mallers-outlines-bitcoin-top-issues-how-btc-will-drive-the-future-of-payments/">Jack Mallers Outlines Bitcoin Top Issues, How BTC Will Drive The Future of Payments</a></strong></em></p>
<blockquote>
<p><span style="font-weight: 400;">“In the above demo, I sent a $10 tip from my house in Chicago, USA to my friend David in San Salvador, El Salvador. The payment settled instantly for no fee. The singular, open, monetary network that allowed me to send an instant, free, cross-border payment to David is the same singular, open monetary network that allowed David to immediately use that money to buy a cup of coffee at Starbucks as soon as he got the Twitter notification that I had sent him money.”</span></p>
</blockquote>
<p><img class="size-medium wp-image-160396 aligncenter" src="https://imagesofcmsprod.s3.ap-southeast-1.amazonaws.com/post/1638938880387.png" alt="BTCUSD price chart 09/25/2021 - TradingView" width="640" height="358" loading="lazy" data-lazyloaded="1" data-src="https://bitcoinist.com/wp-content/uploads/2021/09/BTCUSD_2021-09-24_21-08-37-640x358.png" data-srcset="https://bitcoinist.com/wp-content/uploads/2021/09/BTCUSD_2021-09-24_21-08-37-640x358.png 640w, https://bitcoinist.com/wp-content/uploads/2021/09/BTCUSD_2021-09-24_21-08-37-980x548.png 980w, https://bitcoinist.com/wp-content/uploads/2021/09/BTCUSD_2021-09-24_21-08-37-768x430.png 768w, https://bitcoinist.com/wp-content/uploads/2021/09/BTCUSD_2021-09-24_21-08-37-750x419.png 750w, https://bitcoinist.com/wp-content/uploads/2021/09/BTCUSD_2021-09-24_21-08-37.png 1012w" data-sizes="(max-width: 640px) 100vw, 640px" data-pin-no-hover="true"><noscript><img loading="lazy" class="size-medium wp-image-160396 aligncenter" src="https://imagesofcmsprod.s3.ap-southeast-1.amazonaws.com/post/1638938488196.png" alt="BTCUSD price chart 09/25/2021 - TradingView" width="640" height="358" srcset="https://bitcoinist.com/wp-content/uploads/2021/09/BTCUSD_2021-09-24_21-08-37-640x358.png 640w, https://bitcoinist.com/wp-content/uploads/2021/09/BTCUSD_2021-09-24_21-08-37-980x548.png 980w, https://bitcoinist.com/wp-content/uploads/2021/09/BTCUSD_2021-09-24_21-08-37-768x430.png 768w, https://bitcoinist.com/wp-content/uploads/2021/09/BTCUSD_2021-09-24_21-08-37-750x419.png 750w, https://bitcoinist.com/wp-content/uploads/2021/09/BTCUSD_2021-09-24_21-08-37.png 1012w" sizes="(max-width: 640px) 100vw, 640px"></noscript></p>
<pre style="text-align: center;">BTC price chart for 09/25/2021 on Exmo | Source: BTC/USD on <a href="https://www.tradingview.com/symbols/BTCUSD/">TradingView.com</a></pre>
<h2><span style="font-weight: 400;">The previous time Jack Mallers found himself in the middle of a historic transaction</span></h2>
<p><span style="font-weight: 400;">When Strike’s CEO </span><a href="https://bitcoinist.com/watch-jack-mallers-send-free-instant-non-reversible-10-to-nigeria/"><span style="font-weight: 400;">sent $10 to Nigeria,</span></a><span style="font-weight: 400;"> he described that other transaction in terms that also apply to today’s historic transaction.&nbsp;</span></p>
<blockquote>
<p><span style="font-weight: 400;">“If you don’t see how huge this is, think about it as Jack Mallers does. He “didn’t have to register the transfer through a financial intermediary such as Western Union, request private banking details of Bernard Parah, or wait days for the payment to settle.” On the other side, Bernard “didn’t owe any intermediary a percentage of the transaction, the payment wasn’t reversible and settled instantly.”</span></p>
</blockquote>
<p><span style="font-weight: 400;">Bernard Parah’s Bitnob and Strike are interoperable because they both joined the Bitcoin and Lightning open monetary network. And now, Twitter and its millions of users joined both of those companies and the network. This is immense.&nbsp;</span></p>
<p><span style="font-weight: 400;">Also, the previous time Jack Mallers proclaimed, “</span><em><span style="font-weight: 400;">Today, Strike became the best remittance option from the US to Nigeria without even trying</span></em><span style="font-weight: 400;">.” This time, he feels even more confident:</span></p>
<blockquote>
<p><span style="font-weight: 400;">“Twitter’s integration with the Strike API turns Twitter into one of the best remittance experiences in the world, one of the greatest global creator marketplaces in the world, one of the greatest global payment experiences in the world, one of the best global micropayment marketplaces in the world, and allows an internet communications company to interoperate with the monetary standard for the world, enabling global payments for their users.”</span></p>
</blockquote>
<p><span style="font-weight: 400;">Boom!</span></p>
<div class="twitter-tweet twitter-tweet-rendered" style="display: flex; max-width: 500px; width: 100%; margin-top: 10px; margin-bottom: 10px;"><iframe id="twitter-widget-1" class="" style="position: static; visibility: visible; width: 500px; height: 1160px; display: block; flex-grow: 1;" title="Twitter Tweet" src="https://platform.twitter.com/embed/Tweet.html?creatorScreenName=edprospero23&amp;dnt=true&amp;embedId=twitter-widget-1&amp;features=eyJ0ZndfZXhwZXJpbWVudHNfY29va2llX2V4cGlyYXRpb24iOnsiYnVja2V0IjoxMjA5NjAwLCJ2ZXJzaW9uIjpudWxsfSwidGZ3X2hvcml6b25fdHdlZXRfZW1iZWRfOTU1NSI6eyJidWNrZXQiOiJodGUiLCJ2ZXJzaW9uIjpudWxsfSwidGZ3X3NwYWNlX2NhcmQiOnsiYnVja2V0Ijoib2ZmIiwidmVyc2lvbiI6bnVsbH19&amp;frame=false&amp;hideCard=false&amp;hideThread=false&amp;id=1441092004759293965&amp;lang=en&amp;origin=https%3A%2F%2Fbitcoinist.com%2Fwatch-jack-mallers-send-10-to-el-salvador-via-twitters-lightning-tips%2F&amp;sessionId=c1d699fb9276735e157c1ba4983c9f0c8f731b47&amp;siteScreenName=bitcoinist&amp;theme=light&amp;widgetsVersion=1890d59c%3A1627936082797&amp;width=500px" frameborder="0" scrolling="no" allowfullscreen="allowfullscreen" data-tweet-id="1441092004759293965">

Watch Jack Mallers Send $10 To El Salvador Via Twitter’s Lightning Tips

<div class="sc-cnqt8g-0 epmiuL"><img class="post-preview-image" loading="lazy" src="https://imagesofcmsprod.s3.ap-southeast-1.amazonaws.com/post/1636382356475.png" srcset="https://cdn.decrypt.co/resize/1400/wp-content/uploads/2021/03/Roberts-on-Crypto-Larger.png 540w, https://cdn.decrypt.co/resize/1400/wp-content/uploads/2021/03/Roberts-on-Crypto-Larger-300x122.png 300w" alt="roberts on crypto header" style="max-width:100%;overflow:hidden;width:100%"><div><span opacity="0.58" color="#333" class="sc-jb7pox-1 GwxAa"></span></div></div>
<p>Jack Dorsey, the <a href="https://decrypt.co/78391/why-does-jack-dorsey-hate-ethereum" target="_blank" class="sc-18vyx5u-0 hiPYeO">Bitcoin maximalist</a> CEO of Twitter, put his money where his mouth is this week. His company rolled out "<a href="https://decrypt.co/81731/twitter-bitcoin-tipping-nft-avatars" target="_blank" class="sc-18vyx5u-0 hiPYeO">Bitcoin tipping</a>" to its 300 million active users, a service that will let anyone send or receive Bitcoin by sharing a wallet address or using an app called <a href="https://decrypt.co/73845/el-salvadors-u-s-bitcoin-partner-lacks-key-licenses" target="_blank" class="sc-18vyx5u-0 hiPYeO">Strike</a>. And to top if off, Twitter also announced a plan to let users connect their Bitcoin wallets to <a href="https://decrypt.co/resources/non-fungible-tokens-nfts-explained-guide-learn-blockchain" target="_blank" class="sc-18vyx5u-0 hiPYeO">NFTs</a> tied to their identity.</p>
<p>Where to begin? For starters, this might be the most mainstream moment in Bitcoin's history. That's because Twitter isn't just a mega social media platform used by political and sports divs, but also a major force in media that helps drive the news of the day. Tying crypto payments to all this could spur tens of millions of people to use Bitcoin for the first time.</p><div class="pa-global-class pa-pl-16409 pa-pl-multiInsert" id="pa-container-1" style="z-index: 50; background: transparent; max-width: 166%; display: block; position: relative; width: 166%; pointer-events: none;"><div class="pa-unit-global pa-pl-16409" id="pa-unit-1" style="z-index: 1; height: 0px; background: transparent; position: relative;"><div class="pa-observer-px" style="height: 0px; width: 100%; background: transparent; position: absolute; left: 0px; top: 0px; pointer-events: none;"></div></div></div>
<p>The Bitcoin integration means Twitter has already done something other tech giants could not: Build a borderless payment system right into its app. You may recall Facebook sought to do that three years ago with a new type of stablecoin called Libra, but regulators <a href="https://decrypt.co/78891/facebook-crypto-wallet-is-ready-market-is-market-ready-novi" target="_blank" class="sc-18vyx5u-0 hiPYeO">all but killed the plan</a>. Twitter is more likely to avoid that fate since it doesn't wield Facebook's monopoly power and because it is relying on an existing global currency—Bitcoin—rather than trying to mint its own money.</p>
<p>Bitcoin tipping also coincides with the launch of a number of other new (non-crypto) Twitter products, including newsletters and a live forum called Spaces, that are designed to let artists and creators connect directly with their audiences. In practice, this means that a comedian in Mexico could perform on Twitter and instantly receive tips from people in Madrid, Buenos Aires and New York. The company has even set up an invoicing system.</p>
<p>The world has been waiting for something like this. For decades, media and culture have been borderless, but payments have not. Sure, we've been able to use credit cards (and crypto) internationally, but there's still no easy one-click tool plugged directly into the apps we use every day. Twitter's Bitcoin tipping feature could change that, and also spur the likes of YouTube, TikTok, and others to follow suit. Meanwhile, adding NFTs as a form of identification, as Twitter has pledged to do, could help <a href="https://decrypt.co/79071/cryptopunks-bored-apes-nft-avatar-trend-is-about-community-building" target="_blank" class="sc-18vyx5u-0 hiPYeO">make crypto communities</a> even more mainstream.</p>
<p>If people use the features.</p>
<span class="" style="display:inline-block"></span>
<p>First, Dorsey has to show he can pull this off. And that's an open question. Twitter delighted cryptoland by launching Bitcoin tipping—you can see how it works <a href="https://twitter.com/Twitter/status/1441085130487975952" target="_blank" class="sc-18vyx5u-0 hiPYeO">here</a>—but that doesn't mean it's going to work as planned. For one thing, the reliance on Strike could mean trouble, since the app and its obnoxious founder <a href="https://decrypt.co/73845/el-salvadors-u-s-bitcoin-partner-lacks-key-licenses" target="_blank" class="sc-18vyx5u-0 hiPYeO">don't appear ready</a> to deal with the regulatory issues that go along with launching a global payment network. Strike was also the partner for the El Salvador government's <a href="https://decrypt.co/80436/el-salvador-forced-through-bitcoin-law-any-means-necessary" target="_blank" class="sc-18vyx5u-0 hiPYeO">bumpy Bitcoin rollout</a>. And speaking of governments, the tax rules surrounding Bitcoin remain a mess, especially in the U.S., and it's possible that those who use Twitter tipping will find themselves with an unpleasant surprise come tax time—something that will certainly chill adoption.</p>
<p>Then there is Dorsey's decision to embrace Bitcoin and Bitcoin alone. This has already ruffled the feathers of Ethereum fans, and led <i>Decrypt</i>'s founder Josh Quittner to wonder if Dorsey excluded Ethereum over fears it would threaten Twitter's centralized platform. Whatever his motives, Dorsey's Bitcoin-only path will create political opposition from DeFi diehards the project could really use on its side.</p>
<p>Then, there are the practical problems with Twitters's plan, especially when it comes to NFTs. The company says it will let users display NFT-based badges that are tied to their wallets, but the Bitcoin blockchain doesn't appear up to this task, and Twitter refuses to explain how exactly this will work. Never a good sign.</p>
<p>The bottom line is that Twitter's Bitcoin initiative is full of promise, but fraught with peril. Hey, let's not judge just yet—the company has just pushed forward with a Bitcoin feat the world has never seen before, and for that it deserves kudos. Have a great weekend.</p>
<p><i>This is&nbsp;</i>Roberts on Crypto<i>, a weekend column from Decrypt Editor-in-Chief&nbsp;<a href="https://decrypt.co/author/daniel-roberts" target="_blank" rel="noopener" class="sc-18vyx5u-0 hiPYeO">Daniel Roberts</a>&nbsp;and Decrypt Executive Editor&nbsp;<a href="https://decrypt.co/author/jeff-john-roberts" target="_blank" rel="noopener" class="sc-18vyx5u-0 hiPYeO">Jeff John Roberts</a>. Sign up for the&nbsp;<a href="https://decrypt.co/modal/emails" target="_blank" rel="noopener" class="sc-18vyx5u-0 hiPYeO">Decrypt Debrief email newsletter</a> to receive it in your inbox in the future. And read last weekend's column:&nbsp;</i><a href="https://decrypt.co/81230/solana-outage-sol-growing-pains" target="_blank" class="sc-18vyx5u-0 hiPYeO">Solana's Growing Pains</a>.</p>

Bitcoin on Twitter: The Promise and the Problems

<div class="sc-ktzkjh-0 hIxHRr"><h4 color="#333" class="sc-1t633a1-4 PUmZU">In brief</h4><ul>
<li>Michael Burry once held around 5% of all GameStop shares.</li>
<li>He sold his position before the meme stock hit all-time highs above $400.</li>
<li>In January, he called for the SEC to regulate what he saw as "unnatural" trading.</li>
</ul><div class="sc-zni0p2-0 ggVtwx"></div></div><p><span style="font-weight:400">One of the biggest players in the GameStop saga is being drawn into an investigation by the U.S. Securities and Exchange Commission.</span></p>
<p><span style="font-weight:400">Michael Burry, head of investment firm Scion Asset Management, tweeted today that the firm has received a subpoena from the SEC. A scanned copy of the letter shows that it relates to GameStop Corp. and was issued on September 21. The tweet has since been deleted.</span></p><div class="pa-global-class pa-pl-16409 pa-pl-multiInsert" id="pa-container-1" style="z-index: 50; background: transparent; max-width: 166%; display: block; position: relative; width: 166%; pointer-events: none;"><div class="pa-unit-global pa-pl-16409" id="pa-unit-1" style="z-index: 1; height: 0px; background: transparent; position: relative;"><div class="pa-observer-px" style="height: 0px; width: 100%; background: transparent; position: absolute; left: 0px; top: 0px; pointer-events: none;"></div></div></div>
<p><span style="font-weight:400">Burry owned more than 5% of GameStop stock last year before </span><a href="https://www.forbes.com/sites/antoinegara/2021/02/16/michael-burry-the-hedge-fund-genius-who-started-gamestops-4000-rise-sold-before-its-reddit-surge/?sh=786678af6359" target="_blank" class="sc-18vyx5u-0 hiPYeO"><span style="font-weight:400">selling 1.7 million shares</span></a><span style="font-weight:400"> in the fourth quarter for between $10 and $20. By January GME shares were trading for over $400; they currently sell for $185 on the New York Stock Exchange.&nbsp;</span></p>
<p><span style="font-weight:400">GME's rise was facilitated by an army of amateur day traders and a handful of anonymous Wall Street veterans, who poured into online forums like WallStreetBets to coordinate stock picks. It was the first meme stock, an asset without intrinsic value which is traded for its cultural cachet. Other companies in decline, among them theater company AMC and 2000s throwback BlackBerry, have also found fresh money this year as meme stocks.</span></p>
<div class="sc-155ftbs-0 sc-155ftbs-1 eAya-DO jpxtSH"><div class="sc-155ftbs-2 ccosHo"><div class="sc-155ftbs-3 jcayOL"><a href="/81076/what-robinhood-gamestop-taught-us-bitcoin-billionaires-author-ben-mezrich" class="sc-18vyx5u-0 vsGFO" style="width: 100%;"></a></div></div></div>
<p><span style="font-weight:400">Meme stocks are close relatives to meme tokens and coins, cryptocurrencies that lack much in the way of utility but can be traded for half-ironic LOLs—and sometimes for big money, if holders can convince others to join in.&nbsp;</span></p>
<p><span style="font-weight:400"><span class="link"><a href="https://decrypt.co/resources/dogecoin-crypto-cryptocurrency-guide-how-to-buy-doge" target="_blank" class="sc-18vyx5u-0 hiPYeO">Dogecoin</a></span>, launched as a joke nearly a decade ago, is the preeminent meme coin with a market cap of $27 billion. The more recent Shiba Inu, which borrows DOGE's dog-based iconography, has a market cap of $3.6 billion. It recently began trading on <span class="link"><a href="https://decrypt.co/46690/coinbase-review-a-great-jumping-on-point-for-bitcoin-beginners" target="_blank" class="sc-18vyx5u-0 hiPYeO">Coinbase</a></span>, which has found itself in competition with mobile trading app Robinhood—where many if not most GameStop and Dogecoin speculators plied their trade early in 2021.</span></p>
<p><span style="font-weight:400">Robinhood's participation in GameStop's rise was contentious. At one point, as GME's price tag was rising, Robinhood restricted users from buying more GME. Users were upset they couldn't buy more, while politicians from progressive Alexandria Ocasio-Cortez to arch-conservative Ted Cruz suggested a hearing was necessary to determine whether the app was picking winners and losers. Others in government worried that GameStop's surge was a sign of market manipulation, as everyday investors were perhaps being duped by more powerful forces behind the scene—just like crypto pump-and-dump schemes on Telegram.</span></p>
<div class="sc-bn4v3i-1 kKVLkh"><div class="sc-1lyao0r-0 bYXVxv"><div class="sc-1stj48q-1 jIqIqg"><div class="sc-1ao5pjp-0 iDmTWe"><div color="#b7a048" class="sc-1joxzke-0 iLgkbE"><img class="sc-1joxzke-1 iqMMhj" src="https://imagesofcmsprod.s3.ap-southeast-1.amazonaws.com/post/1636255533965.png" dimension="29"></div><span class="sc-jb7pox-2 hPjvKB sc-1stj48q-3 hVlrdy" color="#333" opacity="1">DOGE</span></div><div class="sc-1lyao0r-0 sc-1stj48q-2 bYXVxv hzlQar"><span class="sc-jb7pox-2 bGpjfZ sc-1mjd3js-0 dDOcjm variation-value" value="7708.33" color="#333" opacity="1"><span>+</span>7708.33%</span><span class="sc-jb7pox-1 gPoHne current-price" color="#333" opacity="1">$0.2107</span></div></div><div class="sc-1stj48q-0 jWoPsV"><div class="sc-ktzkjh-0 sc-1qwrltn-2 hIxHRr irYpKJ"><div class="sc-1ao5pjp-0 sc-1qwrltn-0 iDmTWe cdDhPC"><span class="sc-jb7pox-1 kHsKFY sc-1qwrltn-1 loxyPn" color="#333" opacity="1">24H</span><span class="sc-jb7pox-1 kHsKFY sc-1qwrltn-1 loxyPn" color="#333" opacity="1">7D</span><span class="sc-jb7pox-1 kHsKFY sc-1qwrltn-1 loxyPn" color="#333" opacity="1">1M</span><span class="sc-jb7pox-1 kHsKFY sc-1qwrltn-1 chOUVj" color="#333" opacity="1">1Y</span><span class="sc-jb7pox-1 kHsKFY sc-1qwrltn-1 loxyPn" color="#333" opacity="1">MAX</span></div></div><div class="sc-zni0p2-0 ggVtwx"></div><div height="180" class="sc-dunrjg-0 bPZqaA"><div data-highcharts-chart="0" style="height: 100%; overflow: hidden;"><div id="highcharts-jy1wary-0" dir="ltr" class="highcharts-container " style="position: relative; overflow: hidden; width: 367px; height: 180px; text-align: left; line-height: normal; z-index: 0; -webkit-tap-highlight-color: rgba(0, 0, 0, 0); user-select: none;"><svg version="1.1" class="highcharts-root" style="font-family:&quot;Lucida Grande&quot;, &quot;Lucida Sans Unicode&quot;, Arial, Helvetica, sans-serif;font-size:12px;" xmlns="http://www.w3.org/2000/svg" width="367" height="180" viewBox="0 0 367 180"><desc>Created with Highcharts 8.2.2</desc><defs><clipPath id="highcharts-jy1wary-1-"><rect x="0" y="0" width="312" height="142" fill="none"></rect></clipPath></defs><rect fill="#ffffff" class="highcharts-background" x="0" y="0" width="367" height="180" rx="0" ry="0"></rect><rect fill="none" class="highcharts-plot-background" x="45" y="10" width="312" height="142"></rect><rect fill="none" class="highcharts-plot-border" data-z-index="1" x="45" y="10" width="312" height="142"></rect><g class="highcharts-grid highcharts-xaxis-grid" data-z-index="1"><path fill="none" data-z-index="1" class="highcharts-grid-line" d="M 44.5 10 L 44.5 152" opacity="1"></path><path fill="none" data-z-index="1" class="highcharts-grid-line" d="M 87.5 10 L 87.5 152" opacity="1"></path><path fill="none" data-z-index="1" class="highcharts-grid-line" d="M 130.5 10 L 130.5 152" opacity="1"></path><path fill="none" data-z-index="1" class="highcharts-grid-line" d="M 173.5 10 L 173.5 152" opacity="1"></path><path fill="none" data-z-index="1" class="highcharts-grid-line" d="M 215.5 10 L 215.5 152" opacity="1"></path><path fill="none" data-z-index="1" class="highcharts-grid-line" d="M 258.5 10 L 258.5 152" opacity="1"></path><path fill="none" data-z-index="1" class="highcharts-grid-line" d="M 301.5 10 L 301.5 152" opacity="1"></path><path fill="none" data-z-index="1" class="highcharts-grid-line" d="M 344.5 10 L 344.5 152" opacity="1"></path></g><g class="highcharts-grid highcharts-yaxis-grid" data-z-index="1"><path fill="none" stroke="#e6e6e6" stroke-width="1" data-z-index="1

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