December 15, 2023

Newsletter #222 - We Are Not The Sam

Yo Shitcoiners,

Welcome to the final newsletter of 2022! Keep an eye out for our “Year in Review” article that will be dropping in the next 24 hours. But before that, let’s dive into the action from the past week.

We kick things off with a reminder that your favourite CT personalities are just like you.

The FTX story still dominates the headlines. As SBF was transported to the US last week some eagle-eyed crypto Twitter participants broke down “the look”.

We can only hope that SBF was wearing his watch of choice. Wear your hearts on your sleeves gents.

As we all wonder what happens next, Martin Shkreli, who has had his own run-in with the law, told Laura Shin what he thought SBF should do. His outlook is pretty bleak… 20 years. Ouch.

While we all speculate SBF is doing SBF things. Here is a shot of him losing at League of Legends in the JFK business class lounge.

Is this a good look for Sam?

This whole story keeps getting weirder. Why would SBF risk this?

We are all patiently waiting for the inevitable South Park episode. here’s the next best thing for now.

We don’t know what to make of this.

Kevin O’Leary has been an SBF supporter throughout. He spurts so much drivel from his account that no one noticed he had been hacked. RIP.

Sam Trabucco’s boat trip was very conveniently timed. The disappearance to the high seas may hinder him though when he has to answer questions shortly.

Imagine going into a coma and waking up to this shitshow. This guy better read the last 20 newsletters to catch up.

We end our FTX section with a short poem. Enjoy.

Exchanges are coming under a lot of scrutiny as of late. Here’s proof that KYC processes are lackluster at best. 

Here’s Bitfinex CTO, Paolo, with some BSV spice. You’re welcome bud.

The Winklevii are getting some heat as their interest bearing accounts were not compliant. Oopsie.

As Zhu pointed out, the SEC might have actually done Coinbase a favor.

Enough centralized exchange chat. Let’s dig into the latest DeFi shenanigans now. Avi Eisenberg who famously exploited Mango Markets has been arrested.

He asked for it…

We also share the sentiment of this next tweet. Those Solana explorers are horrific. We get lost every time.

The HEX chart below looks just like the Solana chart. While your HEX bags get heavier by the day, Richard Heart is buying up every Gucci and Versace store in sight. Go figure.

Most of the market is pretty red. It’s also looking a little dicey on the mining front too.

We round this off with a blast from the past. Over 5 years ago, McAfee said many just didn’t understand the new mathematics of the blockchain. We are back to where we were then. Where will we be 5 years from now?

That's all for this week. Follow Andreas on Twitter and stay up to date with us @Shitcoindotcom too. See you next time.