Shitcoin Newsletter #131 - "I'll give you $69M for it."
Before we get stuck into this week’s newsletter remember that we’re hiring! We are looking for a marketing assistant to help us scale up the output on Shitcoin.com. Check out the job ad here.
To the action. When the market is performing like a crab and shuffling sideways it can be good or bad. This time though, it’s good. People are jubilant and spending huge wads of crypto on crazy shit. After Beeple made his wad last week, he jokingly mentioned he’d buy Elon’s latest NFT with it all.
Elon rolled out the memes.
Here’s a quick post to show you that you are buying random JPGs. Don't get rugged.
Meanwhile, art thieves are using stolen credit cards to buy JPGs. What a weird world we live in.
One good thing to come of this is more women are getting involved in crypto. Note: more women in crypto does not equal girlfriends for you, basement dwellers.
Speaking of entries into the world of crypto, Visa is enabling Bitcoin payments!
They were obviously feeling left out as Saylor scooped up as much Bitcoin as he possibly could.
To cars. Crypto hodlers from years gone by have shared some spicy wheels, mostly Lambos though. It’s really encouraging to see that Lambos are no longer the whip of choice.
Oh wait, we take that back, Peter is still into them.
For the Americans amongst you, it is stimmy szn once again! Here’s a reminder what you could have got instead of a Playstation 5 all those months ago.
To Arthur news. He is set to hand himself in but is putting up a $10 million bond to stay out of jail while the proceedings begin.
We are happy to report that all of this controversy hasn’t stopped him deep diving into the perils of DeFi farming.
Alameda, who are closely affiliated with FTX, one of Arthur's former BitMEX derivative rivals saw a recent deal with REEF go sour. Here’s REEF’s side of the story.
Here’s Alameda’s for good measure.
Now to South Korea. Crypto is overtaking TradFi.
But as you would expect, the tax authorities are trying to get their hands on those taxes.
Speaking of taxes, we are sure looking forward to hearing how this panned out.
To scams. Wirex have been called out for charging a “crypto storage fee”. This is starting to sound a lot like those monthly bank charges. Yikes.
Here's another scam and a future SEC case waiting to unfold.
We round this one up with what the world has come to.