GM, this is The Crypto Explorer, Let's face it, trying to keep up with crypto is like catching a greased-up pig.

Let’s do the chasing for you! 😀

 Here’s what we got for you today:

• 🖼️ Peter Schiff's Unexpected Dive into NFT Art.

• 🚨 Prosecutors Oppose SBF’s Dismissal Motion!

• 🧱 Around The Block: Hong Kong and UAE Collab on Crypto Rules.

🖼️ Peter Schiff's Unexpected Dive into NFT Art.

Economist and gold proponent Peter Schiff has surprisingly unveiled a collaborative nonfungible token (NFT) art collection on the Bitcoin network.

Why is this surprising?

Schiff has been a vocal critic of crypto, especially Bitcoin, which he often referred to as a Ponzi scheme with no intrinsic value.

Alongside his disdain for crypto, Schiff has also criticized NFTs on several occasions in the past.

In a blog post from March 2021, Schiff described NFTs as “fake assets” that offer nothing other than ownership of a digital image that can be “replicated endlessly” online.

I mean, you can see why it’s surprising that he’s launching an NFT collection.🤨

That’s why you don't believe anyone, do your own research and make up your mind.😉

But now, on May 27, he announced the "Golden Triumph" NFT collection on Twitter.

It was almost unbelievable, we had to see it ourselves.

The collection will be auctioned off in two parts, starting on June 2 and ending on June 9, with the highest bidder receiving #1 of the collection, and the next 49 highest bidders receiving #2 to #50 in descending order.

You can check out the collection here.

The question is, are you gonna bid❓🤔🤷

The crypto community's reaction to Schiff's NFT collection has been mixed.

Some find it utterly baffling and amusing given his past negative stance on cryptocurrencies while others are welcoming the move even though it is clearly hypocritical.

I bet he secretly holds a good bit of BTC.

When questioned on Twitter about the apparent contradiction of finding value in inscribing "gold" on Bitcoin while dismissing Bitcoin itself, Schiff confirmed that the inscriptions hold value, but Bitcoin does not.

This is just hypocrisy at its finest.🙄

In the end, Schiff's NFT art collection represents a shift in his perspective on blockchain technology, indicating that even sceptics are beginning to see the potential for verifiable asset ownership through NFTs.

You know what they say “If you can’t beat them, join them”.😜

 🚨Prosecutors Oppose SBF’s Dismissal Motion!

Sam Bankman-Fried is still in a legal mess!

He is facing 13 counts of fraud, conspiracy, making illegal campaign contributions, and foreign bribery, and he’s pleaded not guilty to the charges.

On May 8, Bankman-Fried urged U.S. District Judge Lewis Kaplan to dismiss most of the counts, saying prosecutors charged him in a "rush to judgment" after several prominent crypto companies went bankrupt in 2022, including his own Alameda Research.

Come on! Why on earth is tossing the charges even on the table? 😒

I guess this is just how the legal system works, he's allowed to ask for it to be thrown out but that doesn't mean there's a chance in hell it will be.😡

Gladly, U.S. prosecutors have opposed Bankman-Fried’s motion to dismiss criminal charges against him.

They described his motions as "meritless" and stated that his alleged misconduct falls within the scope of what the statutes prohibit.

It won’t be that easy to escape these charges, Bankman-Fired!🙅😤

But Bankman-Fired is relentless in his fight, arguing that:

• Some of the fraud charges he faces were based on a “right to control” theory that the U.S. Supreme Court invalidated on May 11.

  The "right to control" theory centres around depriving a victim of economically valuable information rather than tangible property.

• Charges brought against him after his extradition from the Bahamas, including allegations of bribing officials in China to unfreeze Alameda's assets, should be thrown out since they were not approved by the Bahamas.

• Prosecutors should provide any documents in FTX's possession that could assist his defence because FTX ought to be considered part of the "prosecution team" that only handed over materials that benefited the government.

Prosecutors have pushed back against these arguments.

They contend that their charges were not based on the “right to control” theory since Bankman-Fried intended to defraud his victims of tangible property - money.

And that they’ve requested approval from the Bahamas for the additional charges and would drop them if the Bahamas did not agree.

Fingers crossed, folks! 🤞

U.S. District Judge Lewis Kaplan is set to hear oral arguments on June 15 regarding the dismissal motion.

Can we just fast-forward to that date already? The suspense is killing us!😩

🧱 Around The Block: Hong Kong and UAE Collab on Crypto Rules.

• ⚖️Crypto Regulation: Hong Kong and UAE central banks collab on crypto rules, fintech development.

• 📢Warning: Coinbase CEO warns that China will gain the most from restrictive US crypto regulations.

• 💼Appointment: ‘The Bitcoin Standard’ author, Dr. Saifedean Ammous becomes economic adviser to El Salvador.

• 📑Report: ‘Bitcoin Jesus’, Roger Ver says Ethereum is the front-runner for global crypto adoption.

That's all we've got for you today.

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In any case, see you tomorrow, or on Twitter, if you're there: @danielakpobare

DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell assets or make financial decisions. Please be careful and do your own research.