Sup, nerds!

Here’s what you’re getting in today’s edition:

• 💅 This is cool: The path to universal one-click payments

• 🔎 This seems important: This would've tanked markets 2 weeks ago

• 🤝 Partner: Restore Your Youth​

• 🔪 Let's dissect this: Today’s the day - more news on the ETH ETF applications

Terms used in this edition (click for an explanation, or ask Web(GPT)3!):
Web2/3, wallets, staking.

💅 This is cool:

The Path to Universal One-Click Payments

In one sentence: Wallets that accept most/all major cryptocurrencies (e.g: Trust Wallet) open the door to one-click crypto payment integrations across the web (like on Farcaster).

Online advertising and privacy go together like:

Oil and water…
Chalk and cheese…
F*cbois and commitment…

Ad platforms will even go as far as ‘fingerprinting’ your browser by identifying your installed plugins, fonts, browser version age, and screen resolution to create a unique digital ‘fingerprint’ that lets them know who you are.

(So even if you do block cookies, use a new IP address, and login to everything with a brand new email — they still know it’s you).

Now, sadly, this isn’t the part where we tell you Web3 is about to solve this…

BUT! It does offer some massive quality-of-life improvements for both customers and merchants alike, by allowing Web3 builders to do something that Web2 hasn’t been able to.

That thing is:

Universal, internet-wide one click payments.

You see an item on socials → one click and it’s on its way.
You see ad with a discount offer on a website → one click and it’s on its way.
You need to pay a friend for dinner → one click and…you get the point.

It’s kind of like if PayPal, Venmo, Cash App, Stripe, Amazon Payments, Shopify’s ‘Shop’ app, and Zelle all combined into one mega-payments platform, allowing universal ‘one-click check out’ online.

Problem is, these Web2 payment platforms are splintered across multiple regions and various companies — so that ain’t happening!

(And it’s not for a lack of trying).

But with crypto payments — the systems are owned by no one, ignore any region locks, and already have established user networks.

Here’s the math on how we get internet-wide one click payments:

Wallets that accept most/all major cryptocurrencies (e.g: Trust Wallet) + crypto adoption + one-click crypto payment integrations across the web (like we’ve recently seen on Farcaster).

The incentive for merchants to adopt = this will attract crypto-wealthy customers, and remove friction from the buying process (increasing sales).

The incentive for crypto users to adopt = this could add trillions to crypto’s total market cap (and end the traditional banking system’s stranglehold on us).

Helluva concept!

🥇 Want the news before anyone else?

🔎 This seems important:

This Would Have Tanked the Crypto Market a Few Weeks Ago

In one sentence: The Federal Reserve just voiced concerns around inflation, siting a willingness to raise rates further…and the crypto market shrugged it off.

Picture this:

It’s the last bell, of the last day of 3rd grade.

Summer has started.

You’ve got your Gameboy in your pocket, a Pokemon cartridge in the slot, and your mom just said your best friend (the one with the link cable) can stay over.

That, right there ☝️, is the definition of a ‘nothing can wreck my high’ moment.

And it feels like crypto is going through something similar right now.

Cause the Federal Reserve just met and said:

“While inflation had eased over the past year, in recent months there had been a lack of further progress.“

With various members voicing “a willingness to tighten policy further should risks to inflation materialize in a way that such an action became appropriate.“

A few weeks ago, this would have immediately sent the market into a panic. But as of this writing, we’ve seen a slight dip (if you could even call it that).

Things might have changed by the time you’re reading this (as is the nature of crypto) — but for now, the market is showing its resilience.

Wanna do some more math? Let’s do some more math:

Ethereum ETF rumors + Bitcoin breaking/hovering around $70k + April’s losses being made up for already = a ‘nothing can wreck my high’ moment.

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🔪 Let's dissect this:

Today’s The Day - More News on the ETH ETF Applications

In one sentence: Even though staking is a key part of Ethereum, the ETH ETF providers will not stake their ETH holdings.

It wouldn’t be ‘ETH ETF approval/denial deadline day’ without mentioning the ETH ETFs.

So here goes (with a unique angle).

Staking is one of the fundamental concepts of crypto (and Ethereum in particular).

It’s the idea that you can lock up your crypto, which helps secure the network, and in return you earn ‘staking rewards’ aka ‘interest.’

So, if all of these ETH ETF’s are approved, and they suddenly start buying and holding a ton of ETH, will they be staking it?

Short answer: no.

Here’s what was announced on Tuesday by Cboe (i.e. the exchange that plans to list spot ETH ETFs by Fidelity, Franklin Templeton, Ark Invest, Invesco and VanEck):

So it sounds like it’s off the table - which makes sense given that the ETF providers will need to buy and sell ETH as soon as their customers buy and sell it (they can’t risk having it locked up).

This may have been a sticking point for approval which the ETF providers were only informed of recently, hence the amendments to the proposals.

Seems like, even though staking is an option for ETH, the ETH ETF will operate in pretty much the same way as the BTC ETF does - helping investors invest in crypto, without directly holding crypto.

Here’s hoping we get some good news today!

What Are The Chances of an ETH ETF Approval?