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	Good Tuesday morning. This is Billy Bambrough, here with what's driving the day in the world of bitcoin and crypto. 📧 Thank you for reading CryptoCodex! I’d love to hear your feedback, ideas and tips. Email me directly at billy@billybambrough.com.


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24-hour crypto market snapshot

Bitcoin (+5%)

$40,811

Ethereum (+5%)

$3,053

Luna (+14%)

$91.02

Near (+12%)

$16.93

Bulls fight back 🥊


	Cryptocurrecny prices are surging this morning after falling sharply over the long weekend. Bitcoin bulls aren't going down without a fight it seems as the battle for $40,000 rages on. The bitcoin price is up by almost 5% on this time yesterday, along with ethereum, but some smaller coins are making much larger gains. Terra's luna has rocketed 15% as Terra's UST over takes Binance's BUSD to become the third largest stablecoin. Bloomberg reports that Terra founder Do Kwon "is counting on [bitcoin] as a backstop for his stablecoin, which some critics liken to a ginormous Ponzi scheme." Privacy coin monero has added around 6%, in line with the broader market rally, after news it will undergo a tentative hard fork in July which would see improved network security and fee changes, it was reported by Coindesk. Other big winners include near, now the 16th most valuable coin according to CoinMarketCap rankings, and stepn, described as "a web3 lifestyle app with fun social elements and gamification design," which has rocketed higher in recent weeks. Meanwhile, the price of gold has risen to its highest level in a month as worries over a weakening global economy were heightened by signs that coronavirus lockdowns had clouded the outlook for growth in China. Look out today... for the International Monetary Fund's (IMF) World Economic Outlook which is expected to outline the expected cost to the world economy of Russia’s invasion of Ukraine and soaring inflation that's more persistent than previously thought. Now read this: What would deglobalization mean for bitcoin's price?

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Moonbirds fly 🌚


	To the moon: Moonbirds, the latest non-fungible token (NFT) collection to reach blue-chip status, has ratcheted up some $200 million in sales volume since its mint on Saturday. The collection of 10,000 images has racked up almost 70,000 ethereum (worth roughly $207 million) in total sales and is boasting a floor price of around $64,000, it was reported by Coindesk. Phishing for birds: The success of the Moonbirds collection has attracted "a swarm of scammers," according to a report by The Block, who found apparently stolen Twitter accounts attempting to trick people out of their funds. "What are these Twitter @verified accounts that keep spamming my mentions to promote NFT drops but then no crypto or NFT people follow them," asked crypto podcast host Laura Shin, adding, "this is bizarre," and linking to an example. Birdie bro: The son of U.S. senator Bernie Sanders appeared to have his Twitter account hijacked, with its name changed to "Moonbirds" and hackers posting a fake giveaway link. Wet your beak: The Moonbirds project is tied to Silicon Valley-based venture capital company True Ventures partner Kevin Rose and his Proof Collective, a private community of NFT collectors whose membership pass costs a minimum of 99 ETH. Proof has marketed Moonbirds as "the official Proof profile picture," with members granted early minting privileges. Other controversies linked to the project include a $7,500 mint price, raffle manipulation and rarity sniping—in which developers buy up rare NFTs. The bottom line: Exclusivity sells. Now read this: A postcard from ‘Bitcoin Beach’

Shill "price list" leaked 💦



	Actress Lindsay Lohan has topped the leaked list of how much influencers charge to "shill" crypto projects on Twitter. Getty Images


	🧾 A researcher with a track record of exposing crypto hacks and scams has published a purported list of influencers and how much they charge to "shill" crypto projects on Twitter. 🏷️ The prices range from a few hundred dollars for a retweet to as much as $25,000 for a shill tweet from actress Lindsay Lohan. Most of the names on the list are anonymous accounts that identify as "crypto promoters" or "crypto influencers." 🗣 Twitter user ZachXBT told Vice's Motherboard, which claims to have partially verified the accuracy of the list, that the names and figures came from a "marketing firm" but did not say which one. Good to know: Crypto company Blockchain.com is planning an IPO as soon as this year

Crypto culture V crypto ethos ⚔️


	⛔ Crypto excile Andre Cronje, the founder of Yearn.finance and former Fantom Foundation technical adviser who dramatically quit the world of decentralized finance (DeFi) he helped build last month, has writen a Medium post lamenting "the rise and fall of crypto culture." ✍️ "I have long been vocal on my disdain of crypto culture, and my love for crypto ethos. Reading that might sound weird, but crypto ethos is concept like self-sovereign rights, self custody, self empowerment. Crypto culture is concepts like wealth, entitlement, enrichment, and ego," Cronje, who has been called the Godfather of DeFi, wrote, adding, "crypto culture has strangled crypto ethos." 🔌 Cronje went on to call for "regulation" of the emerging crypto space, "not as a mechanism to prevent, but as a mechanism to protect," using the analogy of a parent trying to protect their child. Cronje believes that legislation is the best way to stop the crypto community from "stick[ing] their finger into a electric outlet, you stop them, before they can learn why they shouldn't." Now read this: How bitcoin mining devastated this New York town

	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.

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