December 15, 2023

Newsletter #230 - Liquidate 'Em All

Yo Shitcoiners,

Don’t miss this week’s episode of Wage Cucking with Jmo! We turned the tables and squeezed as much alpha out of Jmo as we could. Check it out below!

Now let’s dive into the action. Has Bitcoin kissing $25k got you so excited, forcing you to lever up? If so, this next iconic duo might be familiar.

Binance derivative users in Australia got their own iconic notification this week. Their positions were closed…

CZ did his best to patch up the situation.

After a while, those liquidations really start to get to you.

Speaking of unwell, here’s CoinGecko. The CT elite did not enjoy the following video. It probably isn’t helped by the fact the Super Bowl was ten days ago. RIP CG.

The market might have nuked but that hasn’t stopped the builders. You may have seen cryptic blue dots all over Twitter lately. It has now been revealed that Coinbase is developing Base, an Ethereum L2!

While Coinbase diverts some of its attention to Ethereum, over in Lugano the spotlight is firmly on BTC. 

Speaking of Bitcoin adoption, here’s one restaurant that shows food prices in Sats. How often does he have to change that menu?

Meanwhile, Eric Wall just spent a small fortune on transaction fees. He could have infinite “Entradas” instead.

If the thought of $64k on transaction fees makes you feel poor, here are some numbers from Jump. Retail investors, remember that there are no free lunches.

We learned this week of the unfortunate news that Kevin Zhou has shut up shop at Galois Capital. 

Here’s the tweet.

We are eagerly awaiting what’s next. As Kevin points out in this next tweet this might not be the end…

Kevin infamously called out Do Kwon and LUNA before the failed cryptocurrency went up in flames. The SEC is coming after him now.

And the ladies who lunch with Natalie Brunell are coming after her too! 

We round this one off with another woman of crypto, Dr Ruja Ignatova. She ded? The founder of OneCoin who ran away with over $4 Billion was supposedly dismembered and thrown into the ocean over five years ago. Yikes.

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