December 15, 2023

Newsletter #252 - Need Money Buy Food

Hi Shitcoiners,

The industry has been a little quiet lately with new characters few and far between. However, those that already exist have been delivering over the past several days. Another spicy roundup awaits you in this week’s newsletter… for the twelve of you that remain.

When a whale moves coins around these days it sparks a lot of chit-chat, that’s how bad things have got. Chun needs $1.38M worth of food. A man’s got to eat.

Worldcoin hot takes took over this week as their token, WLD, was launched. With a sizeable market cap, everyone who has their eyeballs scanned now gets ~$60. The normies began to queue.

As always with these things there were some shenanigans. $100M was lent to market makers on some interesting terms.

Terms that tell us where the price is staying for a year.

If you do not fancy having your eyeballs scanned this next project might interest you instead.

Many of us believed that SBF could face some butt exploration of his own if he dropped the soap in prison, but he may not be heading there after all.


If you have intel and are involved in this case somehow, don’t you dare vilify Sam. His lawyers are coming after you.

This aged well…

Over to Arthur Hayes now. In his latest long read, he was sharing his thoughts on the future. Will DAO models and DEXes be the way AI organises itself?

Moving onwards with the hack of the week. Jameson identified some funky transactions on the blockchain. Was he onto something?

Yes, he was. Zach stepped in to offer some clarity to CoinsPaid on their situation.

And obviously, Zach was right. In CoinsPaid’s blog post, they didn’t think losing $37.3M to North Korean hackers was such a big deal as they casually stated,

“In response to the attack, the company's dedicated team of experts has worked tirelessly to fortify our systems and minimise the impact, leaving Lazarus with a record-low reward.”


Speaking of Zach, we had more drama!

Gainzy with the rebuttal.

But Gainzy can’t have the high ground for long. Look at that nose.

Spencer Schiff is posting so much bullshit that a roasting will be in his future too when it becomes apparent he sold the bottom.

Gary must have got in his head.

Maybe Spencer saw too much risk in publicly having magical internet money. Here’s a sad story of how things can go south.

On the topic of influencers, OPNX has struck a partnership with Khabib. Oh, no.

This sideways market is getting so boring that two brothers chatting on a live stream is one of the new highlights.

We round with one off with a cry for help from a mentally ill Romano.

And Alex Wice attempting to crack jokes.

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