Newsletter #198 - The Bottom Is In Or Very Close

Yo Shitcoiners,

Have we reached the bottom or do we have further to go? Here’s a meme that sums up how most of you are feeling right now.

No one ever said being in crypto would be easy. You hate it, you love it and then remember how you thought you used to hate it but you actually loved it. Pain is fun!

Imagine how many coins you would have if you had realised it was down only after Mark Zuckerberg’s sister released her cheesy music video.

It’s okay though. You will make it all back in one trade. Rise early to get the disaster trades over with so you are one step closer to victory.

Supposedly the Saudis are here to pump it!

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Crypto and bailouts were two words you never used to hear in the same sentence. Sam will save us if this all goes to shit. We just hope $2 billion is enough.

When SBF isn’t bailing out the industry he’s busy doing normie things like sitting at a train station in Romania. Why is he not looking at the train though?

SBF/FTX are at the center of most of the industry news these days. They are tied up in the latest shenanigans from Voyager who suspended trading and withdrawals last week.

This one escalated quickly as they filed for bankruptcy just a few days later.

CZ here with the scoop. This is pretty damn spicy.

Alameda have money for days though. Here’s the latest from them.

Celsius, who SBF didn’t want to get involved with has some movement. Their liquidation price is going down quite substantially. Will they make it?

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Here's one of the reasons they got in that mess. Celsius were supposed to be doing the hedging when Oxb1 were the ones managing investments. Was that not Oxb1's job?

Some won’t make it. One Korean investment firm got REKT in the Luna debacle. RIP.

These lenders are dropping like flies. CoinLoan aren’t doing so great.

There’s a lot of backtracking going on. Lyn Alden deleted her risk analysis of BlockFi. Ouch.

Peter however, he doesn’t backtrack. He loves CeNtRaLiZaTiOn!

Zhu Su’s megayacht has been the talk of the town. Here’s one CT member getting his fill. We can’t confirm if he actually put a bid in.

RIP 3AC.

These funds and lenders are not enjoying the bear market. Here are some memes!

Friend of Shitcoin.com Jmo here with the spice.

It’s not over yet. Word on the street is that SBF smells blood at Kucoin.

Remember Solana Summer? That feels like a long time ago now. We wonder if SBF is buying up all of these companies in preparation for Solana Summer 2.0...

Like the rest of the market, NFTs are getting hit hard. Gary has been shilling them for what seems like years now. We don’t how to feel about the future he predicts.

Here’s what happens when boomers take too long to execute. Chevy were way too late to the game.

As was this ape-themed restaurant. A crypto restaurant that doesn’t accept crypto? This feels like 2018 all over again!

There’s one good thing to come from this bear market, Ethereum fees are cheap! Is there anything worth buying though?

If you believe the bottom is in there's only one thing you can do. Sell everything and buy as much of your favourite cryptocurrency as you can.

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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