propaganda I'm not falling for

Lovely reader,

I’m granting you the confidence of Rick Rubin as you go about your day.

Love,

The Boys

Writer: Deana

The gals went to the Avalanche Summit last week in London and had too much fun.

Chat, is this real?

Crypto Treasuries. So hot right now. Let’s explore why.

MicroStrategy, now known as just “Strategy” (drop the micro-, it’s cleaner), paved the way starting back in 2020, buying Bitcoin in bulk for the corporate treasury of its publicly traded company. The ticker is $BTC. The ticker is $MSTR. Get exposure to Bitcoin without holding any Bitcoin, some say.

Now, the “MicroStrategy for Ethereum” has emerged. Last week, gaming firm SharpLink announced it’s creating a $425M $ETH reserve, and it put ConsenSys founder Joseph Lubin on its board.

Also in the mix, “Trump Media” (Truth Social parent co), which announced that it’s putting $2.5B of investors’ money to work in its corporate Bitcoin treasury. Adding to Trump’s list of crypto sidequests ($TRUMP memecoin & and holder dinner, Eric Trump’s American Bitcoin mining company, World Liberty Financial, etc.)

Today, GameStop.

What’s happening here? Matt Levine did a great write-up on this yesterday, and this is the TLDR.

Meaning if you’ve got a dusty Nasdaq ticker and nothing better to do, the cheat code is:

1. Raise dollars

2. Buy a pile of crypto

3. Slap “<Insert-Coin-Here> Treasury Strategy” on the press release

4. Profit (aka let retail buy the stock on a markup.)

Everybody’s so creative. We’ll continue to see ppl run this playbook for as long as Wall St. keeps overpaying for crypto on a company’s balance sheet.

What could go wrong?

Quick Hits.

• “I must report that crypto has entered its boring stage.”

• We’re still awaiting Father John Misty’s official comment on the Selena Gomez Oreos.

• What if we kissed at the Cheese Rolling Festival?

• Kangaroo court is in session (ai).

• Sitting in silence grows new brain cells so pls stfu.

💻 3percentclub, a nonprofit dedicated to educating women and minority builders, will be hosting a builders’ day during NY Tech Week. Go!!!

📽️ San Francisco friends, go to Friday’s screening of Any Problem is No Problem, a documentary about crypto founders.

✨ We Them Media is teaching creators how to earn onchain.

🤳 Congrats to the Chipped team for launching TapStack - turning everyday merch into programmable experiences.

👁️ Future Commerce VISION summit will feature speakers like Casey Lewis, Daisy Alioto and Katherine Dee. NYC. MoMA. June 10.

🍀 Congrats to our EthDublin friends on a successful conference!