This Week on Crypto Twitter: Brian Armstrong and Jack Dorsey Blast Apples App Store Crypto Clampdown

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Illustration by Mitchell Preffer for Decrypt

It’s been a relatively quiet week in the cryptoverse. The biggest passing news came from Buckingham Palace on Thursday when Britain’s King Charles signed his assent to a reform bill that now recognizes crypto trading as a regulated activity. Similarly, European parliamentarians have announced their own crypto-focused regulatory reforms.

These were barely discussed on Twitter, however. More attention has been paid to Apple’s removal of the decentralized social networking app Damus from the App Store. Apple had given Damus a fortnight to remove its Bitcoin tipping feature (via the Lightning Layer 2 Network) and bring the app into compliance by integrating it into Apple’s internal payment mechanism.

On Monday, Damus tweeted that he had updated his app to bring it into compliance, but was still removed from the store.

We seem to be removed from the Appstore even after updating our app to make it clear that no digital content is unlocked when users are tipped. Users are only notified after the posts are published, the idea that the content is being sold is nonsense. We will drop pic.twitter.com/Su945kE37v

Damus (@damusapp) June 26, 2023

The next day, Bitcoin-loving Block CEO Jack Dorsey slammed Apple for infringing on the financial freedom of users and creators. Coinbase CEO Brian Armstrong backed up his argument.

It’s really crazy that Apple unilaterally blocks you from running whatever software you want on your own device.

One of the most disrespectful parts of their culture, and it’s damaging to their brand. https://t.co/n1Mo9jPBzX

Brian Armstrong (@brian_armstrong) June 27, 2023

Crypto journalist Ekin Gen shared a chart on Monday highlighting the explosive growth of Ethereum staking over the past two and a half years.

Crypto custodian and fintech infrastructure firm Prime Trust LLC has landed in hot water with Nevada’s Financial Institutions Division, according to Crypto Twitter news account @tier10k. The allegations are quite damning.

Solana co-founder and COO Raj Gokal has been enthusiastic about the revival of Futuramas on Hulu. The new episodes seem to reference crypto and COVID. How very up-to-date!

That day, Brian Armstrong accused the United States of squandering an early lead in crypto adoption and regulation before reiterating his tireless call for sensible regulation. Coinbase is a publicly traded US company, but it has recently expanded to other territories due to the difficult domestic regulatory climate.

The US is wasting an early lead, in part because SBF has embarrassed some politicians and regulators who now want to get tough on crypto. Almost everyone has moved on, and FTX isn’t really discussed in the UK, UAE, etc.

The way to solve it is just to become sane https://t.co/8HAeWiB7Mi

Brian Armstrong (@brian_armstrong) June 26, 2023

Presidential candidate Robert F. Kennedy Jr is trying to position himself as the crypto-friendly option. Looks like he has the vote of Michael Saylors.

The next president will be a pro-Bitcoin president.

Michael Saylor (@saylor) June 27, 2023

Speaking of Bitcoin followers, if you’re wondering what the president of MicroStrategys has been up to lately, wonder no more. He always buys more Bitcoin.

Bloomberg ETF expert Eric Balchunas explained how ARK Invests’ amended proposal to the SEC for a spot Bitcoin ETF gave the company a leg up on BlackRock. BlackRock is the world’s largest asset management company, managing $9 trillion in assets. Of the 576 ETF applications it has filed with the SEC, 575 of them have been approved so far, so it makes sense that other ETF-hungry firms would consider BlackRocks filing its own guidance.

JUST IN: ARK amended its ETF 19b-4 for spot bitcoin to include a bt CBOE oversight sharing agreement and a crypto exchange (likely Coinbase), making them now similar to BlackRock’s deposit, and places them in pole position to be approved first BC they filed first. pic.twitter.com/P8PCmPdhln

Eric Balchunas (@EricBalchunas) June 28, 2023

Market data from Kaiko suggests that Bitcoin’s correlation with tech stocks has hit a three-year low.

Finally, the self-proclaimed internet sleuth exposing the Coffeezilla scams jumped on some content by notorious influencer/scammer Logan Paul.

Hey Logan, promised $1.8 million in cash back to CryptoZoo victims, and 6 months later not paying for “another marketing masterclass”?

Ask all the people who have been scammed by you and the criminals you have hired. https://t.co/wRS4yE24Jb

Coffeezilla (@coffeebreak_YT) June 29, 2023

Paul did not answer.

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