Gary's Pon de Replay

Welcome to another round of regulation by enforcement.

February 12, 2023

gm,

Let me welcome you in. Here’s the happenings.

  • MIND GAMES by Boys Club, co-hosted by Aleo: A pop culture meets web3 trivia night in NY, 2/22.

  • Boys Club x Aave Grants DAO do ETHDenver, 3/3. The Vibes.

  • Low-key hangs also happening this week in Denver, Philadelphia and Brooklyn. Check the Discord for details.

Love,

The Boys

Writer: RachlolEditor: Deana 

Bitch Better Have My Money. The season finale of the Genesis <> DCG drama is finally in sight as the companies have reached an agreement with creditors to “build back better” and provide a path for Gemini Earn users to recover their assets. Ha-lay-lew-yah. The Winklevii also plan to contribute $100mil to the recovery plan in exchange for liability release. Finally the Chads are doing something.

WWSD (What Would Satoshi Do?). Bitcoin Ordinals (or Bitcoin NFTS) are super hot rn. The Ordinals protocol allows digital artifacts like images, text and video to be inscribed directly on the Bitcoin blockchain, similar to an NFT. Ordinals were trending hard this week when NFT enthusiasts created v similar derivatives of classic Ethereum collections (like CryptoPunks) and inscribed them on the Bitcoin blockchain. They are already selling for a loootttt. Bitcoin maxis are pretty pissed — in their eyes Ordinals are “anti-Satoshi” and against the Bitcoin mission. Can’t we all just get along?

FED is the new FUD. Resident FUD master Gary Gensler was at it again dropping his latest paternalistic explainer video trying to justify fining US-based exchange Kraken $30 million. The content of the video isn’t bad, but charging companies and shutting off services doesn’t actually solve any of the problems that the video raises. Even the SEC’s own commissioner called it a “lazy” solution that doesn’t help. We’re having a hard time believing Gary that all Kraken had to do was fill out a form on the SEC website. It’s giving BULLYING, GARY.