Weekly Rundown - December 26, 2021

Read or Listen to the December Monthly Issue Also, if you enjoy the content, please vote for me in any of the Hacker Noon categories I’m nominated in: HackerNoon Altcoin Champion of 2021 HackerNoon Contributor of the Year - Money Best Crypto-Journalist in 2021 Light issue because of holidays here in the US. Arsenal adverts for cryptocurrency ‘fan tokens’ banned Bottom line: the British government banned an English football team from advertising its NFTs. Regulators felt the team should have warned buyers that the NFTs constituted an investment in crypto assets. My take: no good deed goes unpunished. Seems like regulators do not understand what an “NFT” is, but I don’t know whether Arsenal had an obligation to disclaim any financial consequences. If it’s any consolation, regulators also zapped a cider company for making alcohol seem cool and several influencers for not telling people they get paid to influence. Rules are rules! Why we care: no matter how popular crypto gets, it’s not mainstream until the Boomers start using it. At that point, the rules will swing in our favor. In the US, marijuana was illegal everywhere until Boomers got political and economic power. Now it’s legal in almost every state. Some say the laws changed from scientific discovery, criminal justice reform, or the need for new sources of tax revenue. I’m pretty sure the laws changed because Boomers like doing weed. The Biggest Threat to Trust in Cryptocurrency: Rug Pulls Put 2021 Scam Revenue Close to All-time Highs Bottom line: 2021 was a good year for rug pulls and ponzi schemes. My take: I’m surprised 2019 topped 2021. From researching altcoins, I can assure you scams abound and there are terrible people associated with some of the biggest, most successful projects (and a lot of the little ones, too). I would have thought the amount would be higher than $8 billion. Why we care: this is a dangerous market. Yes, the report says *only* about $8 billion worth of scams, but those scams all target you. For those who celebrate Christmas, a heartwarming story to leave you with.  Watch This Video Relax and enjoy the ride!