Newsletter #159 - All's Fair in China FUD and DeFi

Newsletter Archive

Yo Shitcoiners,

It’s October. Markets are not necessarily looking better but September is over. We are awake.

The Show is back! We caught up with Kevin Zhang, Vice President Of Business Development at Foundry. We spoke about the China ban (and if it’s real this time), the state of mining around the world and we even dived into the mechanics of a 51% attack. There is plenty to get stuck into. Kevin knows his shit.

Speaking of China, word on the street is we are just getting started with these anti-crypto policies.

But does it actually matter?

To the US, Gensler is once again mentioning there is support for Bitcoin futures ETFs. Will it ever happen?

Meanwhile in other legal news, Kraken have agreed to pay a $1.25M Fine for allegedly offering illegal margin trading products.

Just think what they could have bought with that money!

Now to a little DeFi. Compound had a bad week. A proposal was approved which meant some users were receiving way too much COMP when interacting with the interest rate protocol.

Wondering how much COMP was wrongly distributed? We are talking around $88M USD.

The founder of Compound, Robert Leshner sent out a threatening message to those draining the platform. This is a pretty poor response.

Crypto Twitter agreed.

Speaking of oopsies, Bitfinex accidentally spent $23.5M USD on gas.

Luckily Bitfinex are some of the most connected in the industry. All is well!

On the topic of Bitcoin, the revolutionary peer-to-peer electronic cash system is being compared to a flip phone. The worst part? The Wall Street Journal think Cardano is the future. What a horrible take.

Someone should hook Maren up with whoever made that video. Bitcoin changes lives yo.

They should also put her in touch with the maker of this meme. Maren’s astrology takes likely have a way better hit rate than most of the “traders” out there.

If you worked at Christie’s and were tasked with displaying a digital art collection, how would you do it? This does not look rare.

Bored Apes always look rare. Joe Rogan doesn’t get it though. Listen to the end… he’s NGMI.

We round this one off with some positive news. Salvadorans are digging Bitcoin.

Remember to Follow Andreas on Twitter and stay up to date with us @Shitcoindotcom too.


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