Crypto enthusiasts and investors alike were treated to another eventful week on Crypto Twitter, as various personalities shared their thoughts on the latest happenings in the industry. Here are some of the highlights from this week on Crypto Twitter.
Binance CEO Changpeng Zhao, also known as CZ, kicked off the week by calling out Tron CEO Justin Sun for a $56 million token transfer to Binance. CZ suggested that Sun might use the funds to farm a soon-to-be-launched token called SUI. Sun quickly responded, saying that the transfer was a mistake and offering an apology. Representatives from Tron later confirmed that the refund had been executed.
Our team told Justin, if he uses any of these to grab the LaunchPool Sui token, we will "take action against it". SMH.— CZ 🔶 Binance (@cz_binance) May 1, 2023
Binance LaunchPool are meant as air drops for our retail users, not just for a few whales.
On the bright side, blockchains are transparent… https://t.co/8Xs1oXjfVd
We sincerely apologize for this oversight @cz_binance!— H.E. Justin Sun 孙宇晨 (@justinsuntron) May 1, 2023
It should be taken into account that the comment that the launchpool airdrops were meant for retail users has a bit of significance when you realize that the distribution of SUI has been anything but “retail-friendly”.
SUI token distribution vs the competition pic.twitter.com/EteCE27Y8A— Tom Dunleavy (@dunleavy89) May 3, 2023
Crypto researcher and critic Molly White pointed out “super weird reporting” around Binance’s claims that someone with links to Congress is using ChatGPT to launch a smear campaign against it. Meanwhile, Robert F. Kennedy Jr., a Democrat 2024 presidential hopeful, added to the conspiracy theories on Crypto Twitter by suggesting that there is a top-down “war on crypto” that had something to do with the recent collapses of Silicon Valley Bank, Silvergate, and Signature.
that congresspeople are sitting in their offices asking ChatGPT if CZ is a communist and then sending out formal inquiries based on it? or that someone is sending congresspeople ChatGPT printouts with false info, and Congresspeople are taking them seriously? 2/2— Molly White (@molly0xFFF) May 2, 2023
Ellen Brown makes a strong case the FDIC/SEC war on crypto caused failures of SVB, Signature, and Silvergate banks. FDIC and SEC have no authority to wage an extra-legal war on crypto that leaves major banks as collateral damage. #Kennedy24https://t.co/HMZuW7Rr1H— Robert F. Kennedy Jr (@RobertKennedyJr) May 2, 2023
On Wednesday, Web3 enthusiast and NFT collector Moritz synthesized 15 different media reports to start a rumor that Amazon will launch an NFT marketplace on May 15. While some skeptics dismissed the rumor as baseless, it nonetheless generated buzz among NFT enthusiasts.
The marketplace was originally scheduled to launch in 2022. New launch date after several delays is set to May 15.— Moritz (@moritz_web3) May 3, 2023
I have gathered information from 15 differrent articles.
There is not a lot of official information out, so nothing is 100% confirmed yet.
Elon Musk, CEO of Twitter, Tesla, and SpaceX, weighed in on Thursday by adding his two cents on the White House’s cooperation with tech giants to ensure responsible AI innovation. Meanwhile, El Salvador’s authoritarian President Nayib Bukele, who made Bitcoin legal tender in his country, announced that he had signed into law an act that aims to help develop the country’s tech sector.
It’s a step in the right direction— Elon Musk (@elonmusk) May 5, 2023
I’ve just signed into law, the INNOVATION AND TECHNOLOGY MANUFACTURING INCENTIVES ACT, that eliminates all taxes (income, property, capital gains and import tariffs) on technology innovations, software and app programming, AI, computer and communications hardware manufacturing. pic.twitter.com/rZtGzPgVzW— Nayib Bukele (@nayibbukele) May 4, 2023
Finally, New York Attorney General Letitia James announced on Friday her “nation-leading legislation to tighten regulations on the cryptocurrency industry.” The proposed legislation would require companies operating in the cryptocurrency industry to register with the state, adhere to certain cybersecurity standards, and disclose risks associated with digital assets.
– Prevent people who create crypto assets from also owning crypto platforms.— NY AG James (@NewYorkStateAG) May 5, 2023
– Stop crypto companies from borrowing or lending investors' assets.
– Provide investors with risk and conflict of interest information about crypto companies.
Popular electro-pop star Grimes offered a 50% share of royalties for any creator who could craft a pop hi using her AI-generated voice but there seems to be a few issues with the project.
I think grimesAI things r getting struck down from streaming and also we need to figure out how to best integrate ai sections into the grimes streaming pages if ppl want that etc but working w tunecore etc to solve this sorry again for delays I was thoughtlessly posting with no…— 𝔊𝔯𝔦𝔪𝔢𝔰 (@Grimezsz) May 5, 2023
Finally the trail of hype was followed by NFT enthusiast @CirrusNFT and displayed how hype played a major part in most crypto projects with some jumping shit from Bored Apes to the new $PEPE project
This week on Crypto Twitter was marked by a mix of drama, rumors, and regulatory developments. While the industry continues to face challenges, the buzz and excitement around cryptocurrency and blockchain technology remain as strong as ever.