December 15, 2023

Newsletter #250 - Are You Not Entertained?

Hey Shitcoiners,

Welcome to the 250th edition of the newsletter! It’s been a wild ride so far and we are happy you are still with us. It’s been tough to stick around when every day we wake up, check the price and guess what, $30,300.

For some, it has all gotten too much. We bid you farewell, 0xCuteSocks.

The capitulation continued, as the NFT fanboys could see “no path forward at current prices”. With these sorts of market participants out of the picture, was this a sign of bullish things to come?

Yes, it might be. One judge in the US was obviously following the capitulation and gave us a helping hand on our mission to crypto Valhalla. It was time for an XRP pump.

Here’s more context.

And here’s a deeper dive from Bankless into what this means for the industry, including the winners and losers.

Some of the immediate winners were US-based exchanges, who doesn’t want more shitcoins?

Kraken went with a meme-centric approach to the re-listing, they know what we like.

ETF news has dominated the crypto news cycle as of late, but would the XRP ruling be even more bullish for the industry?

According to Preston, Ripple Labs still have a whole lot of pain ahead of them.

Speaking of pain, following the Multichain “hack”, the multichain-USDC peg took a beating. Earlier this week a casino wallet was bringing that peg back up with an exotic arbitrage opportunity.

And fast forward to today and the post we had all been waiting for came. Multichain shared an update on the situation and it’s not looking pretty. It’s worth and read and the final sentence is quite the one-liner, “Can @GoDaddy help to bring down Thanks”.

Jmo called it.

Here’s the link to the full episode!

As does Alex Mashinsky. The now infamous former CEO of Celsius has got some heavy charges heading his way.

We hear about DeFi hacks all of the time and it seems that some of these shadowy super coders don’t have the best OPSEC. One man, Shakeeb Ahmed is facing some stiff jail time for allegedly stealing $9M. RIP.

Speaking of stealing, Arkham Intel is trying to make you dox your frens in exchange for shitcoins. As always in the space, the backstory eventually comes to light. Their CEO has an interesting past…

In case you missed it.

This is not a bug, it’s a feature.

In life it’s good to remember, nothing is free and you are often the product.

The bull run might be just around the corner and when it comes, keep an eye on Wage Cucking With Jmo host, Jmo’s timeline. He might be getting married at a Taylor Swift concert.

Marriage or not, we are 99.9% certain he will definitely still be shitposting.

We round this one off with a thread with way too much information. Romano went to the bathroom.

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