December 15, 2023

Newsletter #259 - We Had A Good Thing

Hey Shitcoiners,

Welcome back to your number-one source of crypto industry shenanigans! While this bear market has been a disaster for your net worth, it has provided some excellent narratives and memes. It seems fitting to remind you that we had it all before everything went to shit.

Imagine accidentally spending $510,000 to move $200 on the blockchain. Well, that happened.

Luckily the miner who got his hands on that 20 BTC was Chun. He did the person who fat-fingered a solid.

Note to self: if ever you ever request anything from Chun, get your time zones right.

We were all wondering who the person or entity was. The on-chain sleuths got to work and identified it may have been PayPal.

However, that would quickly be corrected as it was in fact Paxos, PayPal’s infrastructure partner, who messed this up.

Speaking of losing funds, many X users clamoured to get their hands on a “Proto” NFT after seeing Vitalik’s post. However, it turned out this wasn’t Vitalik and the link was, in fact, a part of a scam.

The losses were fairly high with an estimated $600,000+ worth of assets stolen.

Vitalik clarified exactly what happened.

Vitalik might have lost access to his Twitter account, but the man has got rizz.

That was a pretty negative story to kick this newsletter off so let’s mix it up. If you are looking for a keynote speech to get you ready for the next bullrun here’s a great talk by Erik Voorhees. It’s time to be reminded why we are here.

Don’t worry, we have plenty more shenanigans to get through. What’s the latest in the FTX case you ask? New court filings have revealed that certain Alameda accounts had “special privileges”. Who those accounts belonged to is only speculation at this point, but we have some ideas.

Speaking of Trabucco, he’s probably aboard the “Soak My Deck”.

“Soak My Deck” could very well be a song in the pop top 40. Sam must have been involved in the naming process.

Bryan chimed in this week with a lengthy post outlining how he thinks the FTX lawsuit is a joke. This is a good read.

Speaking of those fresh court filings, Arthur has a theory.

We had heard rumblings of a pool party in Singapore hosted by the big dog himself. By the looks of it, things got a little out of hand.

On the topic of conferences here’s one story from Art Basel. We find this hard to believe. CT nerds do not have girlfriends nor do they have the capabilities to woo the opposite sex.

A highly anticipated Unibot competitor, Banana Gun, launched this week. Well, it kind of launched. They had a bug in their contract and made themselves look stupid.

Here is the auditing team.

All they had to do was use ChatGPT. Bag fumbled!

We interrupt this newsletter for an important announcement from Gabriel Haines. If you don’t have a moob t-shirt, you might not make it.

Remember those handshake deals Mich was setting up? Well, it looks like someone might be about to renege. Nothing has happened just yet though.

Ameen and Zooko have been embroiled in an odd back on forth on Privacy Pools. It’s an interesting read. The best bit is that we learned that Zooko plays PUBG.

Over at TABConf Paul and Peter Todd had a debate on BIP 300. Here’s how it went according to Paul!

We now move to an interesting section of this week’s newsletter, “Fallen Heroes”. Supposedly Dani is getting back on the DeFi train.

Is the Milady dev a fed?

We also saw a new craze of people checking how masculine their voices are. Gainzy is a borderline voicecel. RIP.

When the markets are quiet CT comes to life. Jebus has been really high.

And Adam Cochran is trying to work out Inversebrah’s location…

We round this one off with a musical number that is sure to brighten up your Friday. Enjoy.

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