Feds, Do Something

Rumors by Lindsay Lohan (2004)

November 27, 2022

gm, 

Steadfastly,

The Boys

Writer: RachlolEditor: Deana 

WTF <> SBF. Another week, another puff piece about the disgraced FTX founder, Sam Bankman-Fried. The story, or what some are calling “one the biggest failures in US journalistic integrity of the 21st century,” examines SBF’s “philanthropy” without ever mentioning that his charitable gifts were actually user funds. How is this man not in jail? Adding to the chaos, SBF will be participating in the Dealbook Summit this upcoming week (a paid appearance, we might add!) which has the cryptoverse up in arms. Feds, do something!

Is anyone safe? Asking for a friend. The liquidity crisis continued to spread this week as Gemini told customers that they will not be able to withdraw (trigger warning) assets from their Earn program that pays rewards on deposited crypto. Unfortunately, the program is tied to the fate of its lending partner, Genesis, which was overly exposed to FTX 🙄 Gemini wants to remind you this does not impact any other Gemini services and Gemini is a full reserve exchange. This is still a reputational hit for Gemini, a brand that has been widely trusted for years. Please, God, make it stop.

Bad Actor witch hunt. Needless to say, we’ve reached peak fear mongering era. Rumors are spreading like wild fire no matter their legitimacy. This week Binance CEO CZ questioned Coinbase before deleting his tweet after ~20 minutes. Small brainlets are even trying to FUD Wrapped ETH (wETH), nice try! If we’ve learned anything, it’s that skepticism is warranted but when skepticism becomes hysteria …maybe it’s time to become a hell forged OG.

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