The zhupercycle may be over, but the supercycle of arrests is just getting started. Check out the highlights of the blockbuster SBF trial and more of CT here!
Gm,
Who here remembers the Zhupercycle?
It was the supercycle of bullposts at the height of the bull market. All of our favorite main characters participated:
Guess what? This week things have come full circle. The Zhupercycle is over, but the supercycle of arrests continued:
This is the real supercycle no one is talking about:
What else was Crypto Twitter talking about this week?
You won’t believe it…
Whose Threads Are A Must-Read?
Crypto winter is the time for reflection. Maybe you haven’t started yet, but The DefiEdge has. He collected 31 pieces of DeFi wisdom for his three-year DeFi anniversary:
If we had to pick a favorite, we’d go with lesson #18 - Don’t put anyone on a pedestal. Not even “geniuses” like SBF.
Crypto Winter is also the time for building. And few have been busier with building than Chainlink. Aylo visited SmartCon 2023 and shared Sergey’s vision update for Chainlink:
The TDLR: Chainlink wants to create “certain cryptographically proven ground truths” that cannot be disputed, even in the age of AI.
Read also: What Is Chainlink?
At least the real-world asset narrative is gaining ground. It also featured as one of Alex Svanevik’s six major themes for the next crypto cycle:
The other five?
Speaking of NFTs. NFT permabull Punk6529 dropped another thread on why using NFTs is an absolute good:
The TLDR: NFTs matter and anyone using them is bullish.
Wisdom Of The Week
In 2021 and 2022, WAGMI was still a thing. But the cold, hard truth is that not everyone can make it:
Talk of the Town
Su Zhu did not make it. Or actually he did, he made his way to prison (4 months, for now). Just like Do Kwon. And SBF.
Speaking of the devil, SBF was Crypto Twitter’s main character last week because his trial finally started. The perfect time for CBS to release its 60 Minutes episode starring Michael Lewis, who had some very unusual takes on SBF…
Impressive, very nice. Now let’s see the quote tweets:
Yikes.
FTX may have seemed like a good business, but actually it was not. It only functioned in symbiosis with Alameda, and when FTX started losing money, Alameda was there to cover it up for a while:
But what do we know? We can’t even tell what a literature genius looks like, unlike SBF, who can determine one based on statistics alone:
More interesting courtroom stories to come next week for sure.
With the four horseriders of the bearpocalypse out of the way, can we resume the bull market please?
Maybe we can:
So if equities tanking does not matter anymore and we have spot ETFs on the horizon, how much higher can we go? Tedtalksmacro ran the numbers on this:
$48K is all he can do. Could be more, might be more, but that will depend on this little government debt situation over there:
Doesn’t sound pretty, but the government is just in the arena trying things. Just like the latest friend.tech clone, which went through a wild six-hour bull and bear cycle on Friday.
How it started:
How it was going:
Look kiddo, they’re just in the arena trying things. It says as much on the wrapping.
Memes
What institutional adoption really means:
See you next week for part 2 of the SBF Trial Tales!
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