In today's news roundup, Dogecoin's creator gets snarky about crypto on Twitter, while Spike Lee films a new crypto ad.
Today’s Top Crypto News Stories
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Dogecoin Co-Founder Attacks Crypto 😬
Jackson Palmer has launched a blistering attack on crypto — describing it as "inherently right-wing and hyper-capitalistic." The software engineer, who created DOGE as a joke in 2013, also rejected claims the industry is decentralized. He went on to allege a "cult-like 'get rich quick' funnel" is extracting money from the "financially desperate and naive." What he said.
Spike Lee Stars in New Crypto Ad 🔥
Spike Lee has directed and starred in a brand-new commercial promoting crypto. The award-winning actor created the advert for Coin Cloud, a crypto ATM provider. Weirdly, Bitcoin isn’t mentioned at all in the two-minute spot, which was filmed around Wall Street. Instead, Lee focuses on the lack of diversity seen in fiat. Take a look at the ad here.
China Mining Slumped Before Crackdown 🚨
New research suggests China’s share of global Bitcoin production slumped even before the country's crypto crackdown. The Cambridge Centre for Alternative Finance says China’s share of the “hash rate” fell to 46% in April 2021, compared with 75.5% in September 2019. Over that period, the U.S. became the second-largest producer of BTC. Find out more.
Revealed: The Strongest Altcoins in Q2 💪
Dogecoin was top dog in the second quarter of 2021, CoinMetricsData shows. The altcoin surged by 391.96% between April and June, with Ethereum Classic up 297.15%. Polygon also gave a solid performance after rising by 226.67% over this period. That's a sharp contrast to Ether's modest gains of 13.2%, and Bitcoin's stomach-churning fall of 38.8%. Read more.