1. Home
  2. Discover
  3. News
  4. Forbes

Forbes - World War Web 🪖

Good Tuesday morning. Billy Bambrough here, getting you up to speed with the bitcoin and crypto latest.
Was this newsletter forwarded to you? Sign up here! Got a crypto-curious friend? Forward Codex to them to help get them up-to-date and ahead of the market!
24-hour crypto market snapshot
Bitcoin (+6%) $48,952
Luna (+10%) $84.35
A rally cry 📯
Cryptocurrency prices have seen a sizeable bump in the last 24 hours, with both bitcoin and ethereum climbing around 6%. The rally mostly came in the aftermath of a Twitter spat sparked by the website's cofounder Jack Dorsey. See below for details.

While Dorsey was broadly criticizing most major cryptocurrencies, that didn't prevent them from climbing on the back of its rally. Avalanche and terra's luna are leading the crypto top ten, as measured by CoinMarketCap, higher this morning with a 13% and 10% rally, respectively.

Meanwhile, on traditional currency markets, it's been a wild few days for Turkey’s lira that had whipsawed lower before staging its biggest daily rally since at least 1983 yesterday. Many, including popular clinical psychologist Jordan Peterson, have suggested bitcoin as an antidote to Turkey's currency ills.

Now read this: The big market questions for 2022
When you make a purchase through links in this email, the author may earn a commission.
Holiday Sale! Save 50%
Forbes CryptoAsset & Blockchain Advisor grants you unlimited access to in-depth reporting and analysis on the cryptoasset & blockchain landscape. Never hit another locked premium crypto article again and stay up-to-date with the latest opportunities.

For successful subscription, disable your adblocker
Get started for only $25
Trash talk 🤬
Andrew Bailey, governor of the Bank of England, has often criticized bitcoin and cryptocurrencies
Andrew Bailey, governor of the Bank of England, has often criticized bitcoin and cryptocurrencies Getty Images
Caught in a web: Former Twitter chief executive Jack Dorsey, one of the fiercest bitcoin proponents in Silicon Valley, ignited an almighty Twitter row overnight, trashing what he branded the venture capital-owned web3 and telling people to "know what you’re getting into." Read the full story of Forbes.

Why it matters: Dorsey, who recently quit the social media giant he cofounded to grow his payments company, has been seen as a trailblazer for web3—the idea a decentralized, crypto and blockchain-based version of the internet will relace of the Silicon Valley-centric web 2.0—with the Wall Street Journal this week naming him as a leader of a group of "unlikely revolutionaries who want to reboot the internet" through web3.

But but but... "I have nothing to do with 'web3,'" Dorsey tweeted. "WSJ and others need names and photos to generate clicks." Ouch.

Backlash: Tech investor and former Coinbase chief technology officer Balaji Srinivasan and general partner at the venture capital firm Andreessen Horowitz Chris Dixon led the response to Dorsey, with thousands telling him they disagree (though many other so-called bitcoin maxis gave him their support). "I am a huge fan of [Dorsey] and hope we can eventually bring him around to ethereum and other blockchains," tweeted Dixon. "Bitcoin is great as digital gold but there are other important applications that require other chains."

Bitcoin bros: Dorsey joined Tesla chief executive Elon Musk in mocking the idea of a crypto-based web3. "Has anyone seen web3? I can’t find it," Musk tweeted, with Dorsey replying: "It’s somewhere between a and z"—thought to be a reference to Andreessen Horowitz, which has recently invested billions in the development of web3.

End of an era? Meanwhile, Dorsey also predicted bitcoin will eventually replace the U.S. dollar. Dorsey, replying to rapper Cardi B on Twitter—who asked "do you think crypto is going to replace the dollar?"—replied: "Yes, bitcoin will."

The bottom line: Many of the criticisms Dorsey made about web3 have also been made about bitcoin itself: That it's effectively centralized and most bitcoin are owned by a small group. No matter which flavor of blockchain you back or invest in, you'll be adding value to those who got there before you.

Now read this: The new get-rich-faster job in Silicon Valley—Crypto start-ups
CZ of Arabia 🇦🇪
🌴 Continuing its global partnership tour, the embattled crypto exchange Binance has announced it's partnered with Dubai's new crypto regulator to accelerate crypto adoption in the city—a favorite haunt of some of crypto's biggest influencers.

✍️ Binance said it will "set-up of a new industry hub for global virtual assets," in an announcement posted to its website, and will assist in the development of crypto regulations and help crypto exchanges become licensed.

🐪 "Dubai," tweeted Binance chief executive Changpeng "CZ" Zhao, alongside a photo of him in traditional Arabic clothing.

hello world
Billy Bambrough
Forbes Senior Contributor
I am a journalist with significant experience covering technology, finance, economics, and business. I write about how bitcoin, crypto and blockchain can change the world.
Follow me on Twitter or email me.
Forbes

You’ve received this email because you’ve opted in to receive Forbes newsletters.

Unsubscribe from CryptoCodex.

Or, manage your paid subscriptions on your Forbes profile here.

Manage Email Preferences | Privacy

Forbes Media | 499 Washington Blvd.

Jersey City, NJ 07130

Older messages

A surge in cases - and in holiday travel

Tuesday, December 21, 2021

Plus: Omicron now comprises 73% of new US Covid cases ADVERTISEMENT Forbes | InnovationRx The CEO of United Airlines said today that the next two weeks will be the busiest the airline has seen since

Exclusive Look At The Best Brands By Industry | Omicron Cancelations Escalate | Airbnb's Next Challenge

Monday, December 20, 2021

Plus: The Fourth Installment of The Next 1000 ADVERTISEMENT Forbes Happy holidays! What better time of year to talk about the customer experience? That's what we're measuring with the Forbes

Google Detects Cartoon Child Abuse | Log4j Chaos | Facebook Vs. Surveillance-For-Hire

Monday, December 20, 2021

Plus: Iranian Hackers Abuse Slack For Cyber Spying Forbes | The Wiretap In this week's edition of The Wire In Real Life, I look at how Google deals with child sexual abuse imagery when it doesn

What Does Joe Manchin Want? | Elon & The IRS | America’s Top Charities

Monday, December 20, 2021

Plus: Airbnb's $10 Billion Engineer Is Tackling The Lodging Giant's Toughest Projects ADVERTISEMENT Forbes Good morning. The White House and Democrats are again left puzzling over whether Joe

Last chance saloon 🥃

Monday, December 20, 2021

CryptoCodex Forbes Billy Bambrough Forbes Senior Contributor Forbes Good Monday morning. This is Billy Bambrough with the latest from crypto-land and what to look out for this week. Was this newsletter

You Might Also Like

☕ Great chains

Wednesday, January 15, 2025

Prologis looks to improve supply chain operations. January 15, 2025 View Online | Sign Up Retail Brew Presented By Bloomreach It's Wednesday, and we've been walking for miles inside the Javits

Pete Hegseth's confirmation hearing.

Wednesday, January 15, 2025

Hegseth's hearing had some fireworks, but he looks headed toward confirmation. Pete Hegseth's confirmation hearing. Hegseth's hearing had some fireworks, but he looks headed toward

Honourable Roulette

Wednesday, January 15, 2025

The Honourable Parts // The Story Of Russian Roulette Honourable Roulette By Kaamya Sharma • 15 Jan 2025 View in browser View in browser The Honourable Parts Spencer Wright | Scope Of Work | 6th

📬 No. 62 | What I learned about newsletters in 2024

Wednesday, January 15, 2025

“I love that I get the chance to ask questions and keep learning. Here are a few big takeaways.” ͏ ‌ ͏ ‌ ͏ ‌ ͏ ‌ ͏ ‌ ͏ ‌ ͏ ‌ ͏ ‌ ͏ ‌ ͏ ‌ ͏ ‌ ͏ ‌ ͏ ‌ ͏ ‌ ͏ ‌ ͏ ‌ ͏ ‌ ͏ ‌ ͏ ‌ ͏ ‌ ͏ ‌ ͏ ‌ ͏ ‌ ͏ ‌ ͏ ‌ ͏ ‌

⚡️ ‘Skeleton Crew’ Answers Its Biggest Mystery

Wednesday, January 15, 2025

Plus: There's no good way to adapt any more Neil Gaiman stories. Inverse Daily The twist in this Star Wars show was, that there was no twist. Lucasfilm TV Shows 'Skeleton Crew' Finally

I Tried All The New Eye-Shadow Sticks

Wednesday, January 15, 2025

And a couple classics. The Strategist Beauty Brief January 15, 2025 Every product is independently selected by editors. If you buy something through our links, New York may earn an affiliate commission

How To Stop Worrying And Learn To Love Lynn's National IQ Estimates

Wednesday, January 15, 2025

... ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏

☕ Olympic recycling

Wednesday, January 15, 2025

Reusing wi-fi equipment from the Paris games. January 15, 2025 View Online | Sign Up Tech Brew It's Wednesday. After the medals are awarded and the athletes go home, what happens to all the stuff

Ozempic has entered the chat

Wednesday, January 15, 2025

Plus: Hegseth's hearing, a huge religious rite, and confidence. January 15, 2025 View in browser Jolie Myers is the managing editor of the Vox Media Podcast Network. Her work often focuses on

How a major bank cheated its customers out of $2 billion, according to a new federal lawsuit

Wednesday, January 15, 2025

An explosive new lawsuit filed by the Consumer Financial Protection Bureau (CFPB) alleges that Capital One bank cheated its customers out of $2 billion. ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏ ͏