Riding The Wave News Summary 143
36% of the top 1,000 crypto projects went silent on blogging this year, White House Pushes for Punitive Tax on Crypto Mining, & more
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News
Table of Contents
Tweets
36% of the top 1,000 crypto projects went silent on blogging this year
Federal Reserve Raises Fed Funds Rate by 25 Basis Points, Signals Possible Pause
Mashinsky files motion to dismiss NY AG suit, says it ‘parrots misinformation’
Tweets
https://twitter.com/KobeissiLetter/status/1653933477090193409
https://twitter.com/KobeissiLetter/status/1653904967852326913
https://twitter.com/WallStreetSilv/status/1653886511220137986
https://twitter.com/WatcherGuru/status/1653821795261116416
https://twitter.com/KobeissiLetter/status/1653869329140555784
https://twitter.com/jameslavish/status/1653477634427469824
https://twitter.com/KobeissiLetter/status/1653432363848744961
https://twitter.com/WatcherGuru/status/1653431245072744451
https://twitter.com/callieabost/status/1653424058346643456
https://twitter.com/KobeissiLetter/status/1653425948035887105
https://twitter.com/WatcherGuru/status/1653387604828606464
https://twitter.com/KobeissiLetter/status/1653404208731676672
https://twitter.com/WhaleChart/status/1653131494557097988
https://twitter.com/KobeissiLetter/status/1653162767745003523
https://twitter.com/KobeissiLetter/status/1653138577818017793
https://twitter.com/KobeissiLetter/status/1653112880521175060
https://twitter.com/WatcherGuru/status/1653022693409562624
https://twitter.com/rektcapital/status/1653000613494398976
https://twitter.com/KobeissiLetter/status/1652996108916776963
https://twitter.com/WhaleChart/status/1652742154798657536
36% of the top 1,000 crypto projects went silent on blogging this year
More than a third of the top 1,000 crypto projects — a term that includes both crypto companies and individual tokens — haven’t published a single new article on their respective websites in 2023.
According to a May 1 research report from blockchain marketing agency Guerilla Buzz — whose clients include the likes of CoinGecko and crypto exchange AAX — a staggering 35.8% of the top 1,000 cryptocurrency projects have failed to update their websites with any new written content this year.
Additionally, the report found that of these 1,000 projects, less than half (49.7%) have posted more than two new articles in 2023.
Guerilla Buzz researchers stated that the inspiration for the comparative study emerged after noticing that “many crypto companies do not prioritize strong marketing foundations.” Instead, the bulk of these companies choose to focus their efforts on “generating hype for their token sales” and “opting for short-lived growth spurts” instead of prioritizing long-term organic growth.
Notably, while Medium remains the go-to platform for many crypto project blogs, it may not actually be the best choice for companies seeking long-term growth.
“By relying on Medium’s platform, these companies are essentially boosting Medium’s traffic and growth instead of their own,” researchers wrote.
White House Pushes for Punitive Tax on Crypto Mining
U.S. President Joe Biden is looking to impose a punitive tax on crypto mining operations for the “harms they impose on society,” the White House’s Council of Economic Advisers (CEA) said Tuesday in an online post.
The administration’s blog entry made the case for a U.S. tax equal to 30% of a mining firm’s energy costs – an unusual industry-specific penalty that could threaten the profits of such businesses.
“Currently, crypto mining firms do not have to pay for the full cost they impose on others, in the form of local environmental pollution, higher energy prices, and the impacts of increased greenhouse gas emissions on the climate,” according to the CEA’s description of the levy it calls the Digital Asset Mining Energy tax.
While other energy-intensive industries wouldn’t be similarly saddled with the new tax, the CEA contends that “crypto mining does not generate the local and national economic benefits typically associated with businesses using similar amounts of electricity.”
Congressional Republicans have resisted efforts from regulators and the administration to penalize the crypto sector, so the Republican-controlled House of Representatives may not be likely to embrace taxes that punish the industry.
Federal Reserve Raises Fed Funds Rate by 25 Basis Points, Signals Possible Pause
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