a regulator hates to see her coming

gm,

• On the latest pod, we shared feelings about the elusive ‘Product Market Fit’ with Ben Rubin, founder of Towns, Meerkat and Houseparty.

• Some highlights from our live reporting from All Things Go this past weekend.

• NYC babes, save the date October 17.

Love,

The Boys

Writer: Deana

Moo Deng Coin. The memecoin traders are at it again, printing cash by trading the dumbest sh*t imaginable. This time, a Solana memecoin immortalizes Moo Deng, the hyperviral pygmy hippo known for being wet and moody. IMO Moo Deng’s 15 minutes of fame is in overtime, which is partly why I couldn’t believe the memecoin took off. But yet again I eat my words, with Moo Deng coin rising 1,400% since it launched on September 10. One trader took an $800 investment to a $10M book value.

Silvergate. Cast your mind back to the regional bank fiasco of 2023. Silvergate Bank was a main character in that story, its fate and ultimate failure tied to the FTX collapse at the time. Silvergate Bank was the first to fall, with Silicon Valley Bank, Signature Bank and First Republic following shortly after. Well, new information suggests that Silvergate could have stabilized and survived if not for undue pressure from regulators, according to a new Pirate Wires report. Meaning we could have avoided the whole mess had the anti-crypto army not created an intentional “atmosphere of concern” around the bank. The Pirate Wires piece is a long read but worth it for context on “Operation Choke Point 2.0.”

Quick Hits:

• North Korean IT workers with fake IDs unknowingly hired by big name crypto companies. (Umm have you signed up for Cloaked yet to protect your personal data? Might be time.)

• OpenAI has been rolling out its new voice feature, and the results are absolutely hilarious.

• Will we see another 50 bps interest rate cut before we ring in 2025?

From Idris Elba to Stripe to the Central Bank of Brazil, the 6th annual Stellar Meridian conference in London has the range. Join policy makers, investors and builders on October 15-17 in London to talk about how crypto is transforming everyday financial services right now – like the women of San Francisco, Colombia.  Space is limited, get your ticket now!

🔥 Daisy from Dirt talking new media on Blake’s podcast, Context.

📈 Offline Protocol is launching ‘usernames’ - a version of ENS that operates as a fully offchain, protocol-wide identity. Use coupon code BOYS to claim your name for free.

❤️ Lovers, get involved in Soulmates NYC!

🖼️ Tina spoke at the UN about digital art last week!

⚡️ Taslemat started BullishWeekly.

💌 Ash and rug.fun made a cute game that looks at your memecoin wallet and judges you for it (lovingly.)

❤️ Givepact is organizing crypto donations for Hurricane Helene relief.