Newsletter #196 - Default? Nah, Memes

Yo Shitcoiners,

Wagecuck life is in fashion once again. Many have lost it all. Others have put their uniforms back on so they can get their hands on as much fiat as possible for the next bull run.

Bitlord however, he’s pretty much unemployable at this point. He would be great to have around the office though.

He’s in Dubai and is now on the hunt for Zhu Su.

Three Arrows Capital have not had a good time during this market downturn. Positions have been liquidated and debts are owed. Ouch!

Things are getting so bad that they are now transferring 138 SUSHI ($172.50 at the time of writing) to repay debt.

It’s hard to imagine they didn’t see this coming. Here’s Frank with the scoop!

In further spicy news, Zhu has a megayacht set to be delivered next month. Now that’s some bad timing.

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Frank also shared some news about BlockFi. It wasn’t looking so great for them last week.

But when shit is hitting the fan, who do you call? Sam Bankman-Fried!

Eric had an epiphany about his crypto heroes. Do we all have the same problem?

And was Do Kwon one of Eric’s idols?

Maybe he also liked the CEO of Sirin Labs. He is in jail but who says you can’t pump a market from a cell! We hear they have WiFi.

The chart-ooors are always here to make you think more macro. We can only hope.

Many jokes are made about counter-trading Barry. We all remember Zcash. We don’t know what to do with this information. Welp.

This one looks very much like a LARP but big if true.

We will now begin the prayer circle. #PrayForSupport

NFT fan boys gathered in New York for ApeFest. It’s looking as bad for them IRL as it is on OpenSea.

Oh, and supposedly Apes are racist now.

We will just leave this here.

If there is one silver lining to all of this it’s that some of the influencers who shilled you worthless tokens and projects are now rekt like the rest of us.

It’s all been a little bit doom and gloom so far. Why don’t you lighten your mood with an insightful read from Vitalik.

Wen ETH 2.0?

To more crypto company news now. One CFA told Coinbase they would be better off buying tokens and companies rather than running an actual business.

They could be doing just that…

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Meanwhile you might have heard Jesse is on a mission to remove woke employees from Kraken. He made an appearance on Fox Business.

He even got the Elon seal of approval. Nice!

Back to bear market shenanigans. Will MIM follow the dark path to insolvency?

It looks like Daniele is not in a position to bail it out.

We leave you with this. Welcome to everyone’s timeline.

That's all for this week. Follow Andreas on Twitter and stay up to date with us @Shitcoindotcom too. See you next week!

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Team Shitcoin.com