Newsletter #232 - So We're Not Back?

Yo Shitcoiners,

It’s been a wild week in cryptoland. After BTC hit $25k in February, many optimistically thought we were on the up. In light of recent developments, it looks like we might not be.

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Many are touting the banking collapse as a key reason for the red charts. This week prominent crypto-focused bank, Silvergate, announced they were NGMI.

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We will just leave this here.

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It’s not looking too pretty in the banking sector. Silicon Valley Bank, which has long been crypto-friendly is facing uncertain times.

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Is this 2008 all over again? It might not be all doom and gloom as from previous experience we know when money printer go brrr, number go up.

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In his latest blog post, Arthur has dropped some spicy ideas. Peruse at your leisure and if you are brave enough, digest his proposal for NUSD.

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Yes, by NUSD we mean the “Satoshi Nakamoto Dollar”.

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As the carnage plays out before us, one infamous short seller is betting that “Binance is next”. Welp.

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In the meantime though, they’re busy buying up businesses for cheap!

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This week was an interesting one of the regulatory front. The NYAG has sued Kucoin and in the same breath, claimed Ethereum is a security. Why do they always ruin the fun?

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Coin Center here with their argument for why Ethereum is not a security.

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In other news, on-chain sleuth ZachXBT has announced he will no longer be following up on community requests.

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That doesn’t mean Zach is out of the game yet though. Will he look at $SUCKR in the future? In all honesty, if you bought a token called $SUCKR, no one can help you.

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Justin Sun has been making moves. Here are some screenshots of him flexing.

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Meanwhile, Vitalik has liquidated a significant amount of altcoins. He regularly receives airdrops and in the past, “sending to Vitalik” has been considered a way to lock up coins. That may no longer be the case.

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We round this one off with an important message.

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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 time.

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Team Shitcoin.com