Welcome to Week in Crypto Drama! This week we learned that even reasonable women love to larp and shitpost, crypto exists just to make USD even more popular, and degens have no idea what fully diluted valuation means. We’re really going to zero.
Ethereum fees are now cheaper than coffee, everyone’s rekt, and DeFi is dead. Punks are now trading below Ξ50, a phished ape halted the production of its TV Show, and professional investors have entered goblintown. Everything’s going to zero..
Except VC money which continues to enter the scene. The usual suspects raised $15.5B, SBF will acquire some teams, JPMorgan changed their mind on BTC, and there are still people who think giving money to Adam Neumann is a good idea.
Some other VC’s got scared when Ropsten test-net stopped, and panic sold ETH down to $1700. But real men test in production. Like Solana folk, who’ve made the seconds last longer and are now a bit behind.
Talking about ponzis: Waves Founder wants to take control of $400M of other people money - “decentralization” at its finest. Highly anticipated PulseChain will soon make a lot of stupid people poor. Why don’t they ever ask: where is the money coming from?
Hex eco illustrates the difference between something stupid and something crafted specifically to trick stupid people
Earlier this month Vitalik dropped a paper on soulbound tokens. CT was quick to deploy Asshole SBT on mainnet:
For just 0.05e you can mint an NFT that explains why someone is an asshole to someone else’s wallet and the only way they can get rid of it is to pay 32e to burn it.
Have a lovely week!