Newsletter #246 - Liquidate The Mansions!

Yo Shitcoiners,

Another wild week in the industry down. It’s time for us to round it all up for you. Andreas and the team were in Prague last week meeting up with some familiar faces.

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Moon confirmed!

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One day we’ll look back at $25k and think those were the good old days. However, until then, there will be plenty of time to dwell on downward price movement. Did you check the chain? It’s looking pretty bleak out there.

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We will just leave this here.

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When Gainzy shitposts, he shitposts hard.

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The big news this week came from Curve, as on-chain detectives dived into Michael Egorov’s heavy positions. Are they too big for DeFi?

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Rumours swirled that Michael’s mansions were at risk of liquidation. Supposedly you can only own crypto and never have anything nice. Adam is here to dispel the myth that Michael’s boujie houses and his crypto positions are doomed.

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Had you heard about Prometheum before this week? We hadn’t either. Here’s a deep dive into how this unknown exchange got approval for a Special Purpose Broker-Dealer (SPBD) for digital asset securities, before any of the other US players.

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Do we smell PSYOPS?

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We hope you are confused too. What a name for a pivot into the blockchain!

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The Co-CEO, Aaron Kaplan has been thrust into the crypto spotlight as the head of an exchange with no product.

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If that’s getting all too serious for you, here’s a catchy tune.

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With legal uncertainty everywhere, it’s good to know we have people like Gabriel prepared to head to The White House.

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Gary Gensler has cemented himself as the endgame boss in recent months. However, back in 2018, he felt quite differently…

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So Gary changed his mind, what are you going to do? This is PVP szn innit.

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You better hide those unregistered securities!

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Gary has put the US well behind the rest of the world with his “lack of clarity”, but he might not be around for that much longer. We are all Vitalik.

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By the time the SEC respond to Coinbase about their request for rulemaking, Gary may not be with us. RIP, potentially. Oh and, 4.

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In an interesting twist this week, BlackRock officially announced they have filed for a Bitcoin ETF with Coinbase as their custodian.

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The policies coming out of the US tell you a lot about their stance on Bitcoin (and crypto as a whole). Their wallets tell you quite a bit too.

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In other US news, it has emerged that the Mt. Gox hack was supposedly the work of associates of the infamous BTC.e.

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This industry is not for the faint hearted. If you’re still with us, you are GMI.

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That’s enough US for this edition. It’s all so tiring. Over in Hong Kong it’s becoming clear that China is trying to capitalize.

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And they sold the top!

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Over in Prague the word “Ordinals” wasn’t welcome. Will the devs do something?

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It’s all quite chaotic and it’s looking like Cobie has had enough. If this is Cobie saying he’s done, we wish him luck. Thank you for your service.

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Cobie is famous for his narrative calls. He’s no chart-ooor like this schmuck.

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The chart-ooors and the memecoin-ooors are one and the same. What a fitting mention of @inversebrah.

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Daniel Krawisz had his own wassie moment.

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We round this one off with a few funny posts for you. If you were a normie, would this mention of cryptocurrencies make you a permanent nocoiner?

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We desperately need more people in this PVP market. Send more dopes!

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And here’s an excellent meme to finish up.

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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