Rollbit's exposé on FatManTerra caps off yet another eventful week on Crypto Twitter, now rebranded "X." Read on to find out more!
Gm,
Crypto Twitter ─ yes, around these circles it will remain Crypto Twitter, not Crypto X ─ has a new villain, after yet another shocking twist of events. Or maybe two, depending on how you count
Strap in, this one is a wild one.
Whose Threads Are A Must-Read?
Our thread section this week covers a few narratives that have been doing well and are only expected to do better in the future.
DeFi has been a sector that has been bruised and battered in this bear market. It seems as if there is no end to this DeFi bear market…or is there?
Taiki Maeda makes the case that the DeFi bear market is over:
He argues that real-world assets will be the catalyst for the next DeFi bull market, which has already started:
- Low interest rates in 2020 led to capital flowing into DeFi, creating a bubble.
- The Fed's aggressive hiking campaign in 2022 caused DeFi TVL to go down.
- DeFi protocols are tokenizing US T-bills on-chain, and DeFi money legos could offer yields above the risk-free rate.
A big narrative in the last few weeks has been the rise of the Telegram bots. As so often with crypto, the alpha comes suddenly and out of nowhere. Redphonecrypto discussed the potential of Telegram bots here:
TLDR:
- Bots can eliminate numerous steps for traders and allow users to interact on-chain without using user interfaces.
- User interfaces are one of crypto’s most vulnerable chokepoints, and bots can help users avoid them.
- Bots and AI can enable interesting mashups, and open-source bot frameworks with easy-to-add plugins could be the ultimate solution.
Read also: What Is Unibot? Rise of Telegram Bots
Who Is Arguing In Way Too Public A Place?
This week’s main story was this bombshell thread by Rollbit about FatManTerra ─ one of Rollbit’s biggest antagonists:
What was revealed can only be properly described with one word:
1) What
Here’s a best-of:
- FatManTerra is an accurate description of the person behind the pseudonym.
- FatManTerra fabricated evidence in his reporting about Terra and Rollbit.
- FatManTerra likes a racist joke or two.
- FatManTerra has a personal vendetta going on against Rollbit and deceived Crypto Twitter.
Here’s some confirmation straight from the horse’s mouth:
Crypto Twitter was, of course, shocked by these revelations:
Except for one person. Guess who will be happy as a clown on the timeline for the next few days:
Talk of the Town
Elon Musk’s rebrand of Twitter to X kickstarted some crypto-related talk. A new supply of hopium was delivered for Dogecoin fans when Elon added the Doge logo to his Twitter─pardon, his X profile:
But last week’s chatter was mostly occupied with a new villain drawing the ire of crypto talking heads. WorldCoin, Sam Altman’s proof-of-iris-scan cryptocurrency, hit the exchanges, which reminded everyone of privacy good centralization bad scanning eyeballs very bad:
As any good crypto project knows, well-marketed is half sold. So it shouldn’t be all that surprising that WorldCoin was pulling some old-school marketing ploys to get people interested in handing over their eyeballs (scans).
There is, of course, much to be discussed about the privacy issues around WorldCoin (and not only those). Something the French authorities are looking into as well. But maybe humans should think twice about leaning in to and accepting candy from sleek metal strangers gazing deep into their eyes:
Read also: What Is Worldcoin?
Last but not least, an old villain made a cameo appearance. Sam Bankman-Fried could or could not get off campaign finance charges, but the mere possibility that he could makes Crypto Twitter’s blood boil:
He could still be on the hook for those next March though.
Memes
Any one of you who is without sin cast the first stone:
See you next week!
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