December 15, 2023

Newsletter #238 - Memecoins & Securities

Hey Shitcoiners,

A quick reminder before we get started to check out the latest episode of Wage Cucking With Jmo! You can now catch it on Spotify, Apple Podcasts or any of your other favourite podcast platforms too.

How did you celebrate Doge Day? Elon decided it was only fitting to do a test flight of the biggest rocket ever launched.

Speaking of rocket launches, meme tokens were the talk of the town this week. $PEPE did some incredible numbers, reaching a market cap of $100M+. Some degenerates made a killing.

Being in the right Telegram chats or Discord channels can really pay off…

However, as people aped, they had high slippage. Volume like this means MEV bots.

Jared from Subway is leading the MEV pack. In one 24-hour period, the bot used 7% of the total gas on Ethereum!

The SEC and Gary Gensler have had an eventful few days. Earlier this week they announced that Bittrex was being charged with operating an unregistered securities exchange. Ouch.

A few cryptocurrencies were mentioned too.

Do you remember when Gary called Algorand “great technology” back in 2019? If you took that as financial advice, it’s not working out too well for you.

Here’s a thread.

The very next day Gary was grilled in a congressional hearing. Crypto Twitter was naturally interested in this one.

Did you know you can teach a course at MIT on digital assets without ever owning or using Bitcoin?

There was obviously pushback to that narrative from certain boomers.

Is Gensler on the way out?

If his day-to-day is anything like this next video, it’s probably about time.

We often hear jokes about the “future of France”. Well, it seems their future is set to be shoddy solidity coding.

The contract gets even better. It turns out they can just take all of your money.

In other nation state news, it turns out Bhutan have been building a crypto war chest!

And over in Hong Kong, Bitcoin and crypto have been ruled as property. Are you bullish on Asia anon?

Will you be left holding the fiat bag? Here’s a great read from Arthur Hayes on the potential of becoming fiat exit liquidity.

In this industry, it’s important to ride the waves. It seems that Paul Graham called the bottom in November 2022. We better get turn on PG tweet notifications.

One cause of that crash was the LUNA fiasco. Although this almost definitely seems fake, a small part of us wants to hear it confirmed as real in the next few days.

While Do awaits his court date, Alex Pertsev is supposedly heading home.

Taylor Swift will not be going through similar ordeals. Her lawyers apparently asked the right questions of FTX before signing on the dotted line.

Here’s Su trying to subtly shill OPNX.

If you were affected by the FTX collapse and are worried about your taxes, this next video is for you.

It’s important to remember that “criminals” are not all bad. Some of them are just autistic.

Using mixers hasn’t worked out well for some in the past and neither has walking around with a hardware wallet around your neck. This is not a good idea from Ledger.

Imagine this. You hodl for years and do nothing. Then you click one button and poof, it’s all gone in an instant. RIP.

As this next thread shows, you will own nothing and you will be happy.

What the hell is a $CRAMER?

You might have seen Gabriel Haines replying to your favourite posts on Twitter. Here’s a behind-the-scenes view of his content that does not disappoint.

This man is a gift.

Have you ever wondered how to get more utility out of your backpack? Supposedly community members of the Mad Lads community are making great strides in innovation.

We round this one off with a reminiscent post from Gainzy. This space is wild.

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