Flirting Halfway

The well-known tech star Elon Musk made headlines by commenting on cryptos. However, many of the articles seem to miss the point of what Elon was really saying.

For those who would like to know, here's the link to the interview, the comments about crypto come at the very end (timestamp 25:25).

What became clear to me was that Elon wasn't very interested in talking about it all. Though he did his best to pivot back to Tesla, the interviewer Tasha Keeney did her best to keep him on it. At which point he simply stated some of the obvious pros and cons of digital assets. Responding on twitter just a few moments ago he wrote...

So, the guys got one foot in and one foot out. Far from a critic but not an advocate either.

Certainly, if Musk wanted to come out as a crypto fan he could have taken the Lightening Torch as his friend Jack has done (discussed in a previous market update titled: Sudden Change in Outlook). In fact, the CEO of Twitter and Square has wandered further down the crypto rabbit hole today by trying out the new lightening powered tip bot

The XRP community was quick to point out that sending tips on Twitter has been available for some time through the @xrptipbot. As someone who's sent and received tips through both apps, I can say that they're both easy to use and neither seems to have any particular edge over the other.

Tipping content creators is arguably one of the most mainstream use cases for internet money, the custom has been alive and thriving in China for more than a decade already. The only difference is that in the East, it's more of a closed ecosystem that was set up by Tencent, and I'm thrilled to see that as it catches on in the West, people are integrating with some of the top cryptos.

Traditional Markets

The FOMC release last night did, in fact, turn heads yesterday as the Fed indicated they're going to leave the balance sheet alone for now, but the pace of rising interest rates was still very much in question.

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