Gary Gensler is addicted to never serving

insufferable woman pleads guilty, toxic debt, Gary's pivot

August 06, 2023

gm,

Sorry the newsletter is late, we’re still recovering from FEST.

Listen to the new Feelings Check-in pod where we give an explainer on the $BALD scam, Gucci NFTs and talk about how we’re terrible negotiators.

Bye!

The Boys

Writer: Deana

Curved. The Curve exploit contagion could continue to spread, with the founder now making over the counter sales of $CRV to try and stop the bleed. Is this DeFi’s “2008 Lehman moment?” Let’s hope the fuck not. The backstory is that last week, a security exploit led to $61M being stolen from Curve Finance trading pools. This set off a series of events that quickly revealed that the Curve founder Michael Erogov had used the Curve token as collateral in a ton of other loans, across the DeFi ecosystem and also for 2 mega mansions in Australia, creating a potential cascade of collapse. So sorry we went out of pocket during trivia night on this, but like wtf?

Pivot to AI. Like the best of them, Gary Gensler has aped in to AI. Gary believes that AI presents significant financial risks for US residents, and “we can get to crypto later.” In other law-adjacent news, remember the self-proclaimed “baddest bhech in tech” and absolutely insufferable human being Razzlekhan? Well, she and her partner pleaded guilty of trying to launder $4.5B that they had stolen in a hack years earlier, after being brought down by a $500 Walmart gift card. One paragraph, three humans addicted to never serving.

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