Check out the highlights of the SBF trial and more of CT here!
Last Week on Crypto Twitter: Courtroom Reporting
Gm,
Reporting live from New York, where the much-awaited SBF trial has finally begun. Our reporter on the ground:
A shitstorm you say?
My god! Strap in cause…
Whose Threads Are A Must-Read?
There’s going to be a lot of FTX in this week’s round-up. If you don’t want to read all the R-rated details from the testimonies, there is an FTX TLDR courtesy of Autism Capital:
If you’re interested in something not related to FTX (or the horrible events of last week), give this recap of the bull case for SocialFi a read. DeFiIgnas thinks SocialFi could facilitate the discovery of mini-DAOs, social trading groups, GameFi and even rivals to Telegram bots:
The other bullish narrative besides SocialFi in recent months has been – wait for it – ChainLink. Link Marines and tried and tested bag holders, but the latest integrations of ChainLink with TradFi have turned a lot of people bullish again. ChainLinkGod summarizes how LINK will accrue value after the new integrations:
TLDR: Chainlink services are monetized through usage-based payments, user-fee sharing and the BUILD and SCALE programs.
Macro doomers have been having it all their way in October. Bond prices are nuking, rates are mooning and the entire system seems as stable as SBF’s attention span.
Are we in the macro endgame? Close to it, argues Jordi Alexander:
His TLDR: The Fed is losing control of the bond market. Investors are not willing to wait for a long-term payout. In other words: bad news is good news for internet coins.
You can’t say macro without saying dollar. Eurodollar to be more precise.
You don’t know what a eurodollar is?
You better get educated then. Jeff Snyder’s eurodollar explainer thread will help you out:
Talk of the Town
All of this week’s wisdom was provided at the SBF trial in New York, so we’re jumping straight to that part.
Matthew Russel from Inner City Press has been diligently covering the trial the entire week, and there are almost too many juicy details to report. Gary Wang revealed that Alameda has a cool $65 billion (with a B) credit line at FTX (but they didn’t use the full extent):
By far the most interesting reveals came from Caroline Ellison, SBF’s ex Alameda CEO and love interest. She covered all, from how Thai prostitutes were useful to FTX over SBF trying to raise from the Saudis to their Telegram business practices:
But probably best was the pillow talk Caroline and Sam had:
The gloves on Crypto Twitter came off for real:
The trial will continue next week, although it probably can’t get any better from here. Unless Sam Trabucco shows up, of course.
What else was CT talking about?
Prices (obviously). Everyone still left in this market has emotionally overinvested by a lot. It is what it is, but they need the price to go up.
But Bitcoin devs are already doing their best:
When 63% YTD growth isn’t enough, you know your mind has been captured by the algorithm. Don’t expect any fireworks unless the ETFs get approved early:
Until that happens, we may already have full-on smart contracts on Bitcoin. Babe wake up, new innovation just dropped:
New developments + billionaire shills = bullish news:
Just hang in a little bit longer…
Memes
You’re all going to hell for laughing at this:
See you next week with more juicy SBF stories!
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