December 15, 2023

Newsletter #231 - Bank Runs, Curve Balls And Music

Hey Shitcoiners,

Before we dive into this week's action remember to check out the latest episode of Wage Cucking with Jmo! This week he caught up with David Gan, Founder of OP Crypto. This one was filled with plenty of hot takes. From the future of blockchain gaming, to if Asia really is bidding… don’t miss it.

Now to the news! You might have been wondering what caused this latest downward price action. Well, that could be due to Silvergate. The California-based bank that served many of the industry's biggest hitters is facing problems.

Blaming their tricky situation partly on "investigations from our banking regulators”, things aren’t looking pretty.

Crypto businesses with connections to Silvergate were quick to cut ties.

But the damage had already been done…

What this means for the industry's future is yet to be seen. Supposedly Saylor’s loan isn’t affected, but who knows.

This is the industry right now.

While on crypto Twitter it sounds like the world is caving in around us, over in Denver the ETH-heads are saying “GM”.

When Ethereum hodlers are not wishing each other a good morning, they are making music.

Some people did not like the aforementioned music.

While others loved it.

What would happen to the price of Bitcoin in the medium term if oil ramped 2x to 3x overnight? Here’s Arthur’s latest long-form article, “Curve Ball” on just that. Grab your favourite beverage and get comfy. This is a great read.

Speaking of good Arthur-related reads. Read the next piece to learn about his time under house arrest in Miami with a huge collection of stuffed animals.

We know that Arthur spent that time writing insanely detailed blog posts. He had a lot of time to fill though. Did he dive into the “Everyone’s watching” section like Romano?

Romano, we beg you. Please stop. Or at the very least get this trading set up so you can watch that drivel on the side as you stare at charts.

With that setup, think of how many times you could make 1.55 ETH profit by risking over $2 million!

We round this one off with a Bitlord post. He’s been busy training the 2030 cohort of CT.

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