May 3, 2024

Newsletter #291 - Down But Not Out


Many of you have not had a good week. Let it all out.

We can always trust cat to remind us that we have some things going for us though!

Majin is back from exile. He is here for glory and to take back bera for the people.

One of the biggest stories of the week involved Roger Ver. Bitcoin Jesus was arrested in Spain after allegedly evading nearly $50M in taxes.

Kim Dotcom, like many others in the space, thinks this has nothing to do with tax evasion.

Here’s Paul Sztorc with some cliff notes.

Speaking of legal situations, CZ has finally got his sentencing and will be spending 4 months behind bars.

Here’s what CT thought CZ would do.

Here’s what CZ actually did.

His sentencing was not lenient at all.

The Samourai Wallet team have some legal trouble of their own. Accused of laundering illegal dark web funds, the message is clear, they don’t think they are guilty.

Here’s an old tweet that really hits home.

One man who has a history of run ins with the law is Martin Shkreli. We live in wild times when he is the voice of reason.

He’s launching another token too!

As we wrap up our legal segment of the newsletter, we have some new about the Mango Markets hacker Avi Eisenberg. He is already facing up to 20 years, has now been charged for possession of child porn.

To EigenLayer now! The hotly anticipated airdrop is here. Oh wait, it’s not here. You will receive nothing and you will be happy.

Ah, the intersubjectivity!

Imagine allowing users to use a VPN to deposit but then not rewarding them because they used a VPN. The mental gymnastics are real on this one.

The current state of things is quite something.

Weird post from Ethena here. They love you.

Also a weird way to measure things next from Polymarket.

However, all was not lost. In a gesture of good will, you will receive 100 EIGEN tokens! The PR has been so bad that they had to disable the comments on the announcement post. NGMI.

If you are wondering what EigenLayer does like the rest of us here’s an explainer.

Don’t worry, there may be better airdrops in your future, anon.

Over in Bitcoin-land, maxis are in disbelief as Saylor announced a new “protocol”.

He did present a pretty solid explanation of Bitcoin though. You win some, you lose some.

Is this an example of lost in translation? Here’s Paolo with an interesting tweet. Non parlo italiano.

To memecoins! The virus is spreading.

If you have been degen’ing into memecoins over the last few months, there is a strong likelihood that you have roundtripped a bag or two.

However, some people are just built different. “Paulo” is realizing profits like there’s no tomorrow.

Imagine launching a coin and sexually exploiting someone who is supposedly your own mother? Yes, this happened.

Even worse, unless he was using some face altering technology here, this guy just doxxed and then rugged. You can’t make this shit up.

Get Zach on the case!

Picture this. You buy a bunch of “bluechip” NFTs and then proceed to be drained 13 minutes later. Adam is rekt.

That is a beta series of events. We must all learn to be better. Learn from Ansem. This is what peak male performance looks like.

Ansem loves a little According to them, we are back in a bear market…

Word on the street is that FriendTech will be launching their token very soon. Could this be some test in production?

Will you be buying?

To some real insights now. The founder of Internet Computer thinks most of crypto is trash. We have no idea about the usage of their chain, but we do know that their token price has been steadily tanking since launch. Make of that what you will.

We cannot escape the zombie chains.

It’s not looking too great post-halving but this is when the boys turn to men. Meditate on your positions. Your time will soon come.

Throwback to 2 years ago when SBF sat on stage with Bill Clinton. This industry is the gift that keeps on giving.

We are evolving. It will be interesting to see what the next addition to this artwork looks like.

We sign this one off with an important message. Stay Retardio.

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