Curve founder runs OTC deals, BALD memecoin rugs and SBF rumours marks an eventful start as we head into August. Read on to find out what went down on CT last week!
Gm,
Bitcoin volatility is still at all-time lows. But you wouldn’t know it from opening Crypto Twitter-on-the-platform-now-called-X.
This last week has been a long month:
Pour the coffee down the drain, this one is strong enough on its own!
Whose Threads Are a Must-Read?
ZkSync is one of the highly anticipated projects in 2023 since launching its ZkSync Era mainnet in March.
For those who still haven’t caught on to it, here’s one last chance with a five-minute rundown of what zkSync is all about:
Another big bad L2 making our hair stand on end is Base. Especially if you bought BALD, you know what the deal is (we’ll explain later).
But following the rotatooors jumping from L2 to L2 is a thankless task, so you should doubly appreciate CryptoKoryo’s L2 liquidity Dune dashboard. Explained here:
L2s are but one narrative this fine month. Stacy Muur identified account abstraction and GambleFi as the two other narratives in this otherwise slow market:
Read also: Is Memecoin Szn Back?
Speaking of abstract accounts. Many a degen finds Metamask a bit too abstract for their liking. If only there was a good alternative for a browser wallet…
There may just be. SplinTeron isn’t the first to recommend Rabby as a browser wallet, so you should check out his thread about this potential alternative to Metamask:
Finally, for those really deep down the crypto rabbit hole, Rektdiomedes put together a cool thread on the five best speeches from ETHcc in Paris:
Elon Building X
Elon had some distinctly crypto-related news on not-Twitter this week. There will not be an X token, sadly:
Fret not, there is entertainment in store as the Musk vs. Zuckerberg fight would be live-streamed on X:
Talk of the Town
The long month last week started with a classic case of DeFi drama. Curve founder Michael Egorov came dangerously close to being liquidated:
Read our full analysis of the Curve liquidation drama
Good thing if you have a full rolodex of contacts that will buy your governance tokens at convenient prices OTC:
As it stands, Egorov has walked away from the cliff of liquidation. HEX founder Richard Heart has been less lucky. He was sued by the SEC:
This has come totally out of nowhere for literally nobody except Hexicans:
But the fun didn’t stop there. Base, Coinbase’s new L2 launched last week. And you know what that means ─ a fresh round of memecoin pumps to take a new chain’s virginity.
Only this time, it did not go so well:
Another shitcoin, another rug ─ what’s the big deal, you ask.
The big deal is that the deployer may be no other but…Sam Bankman-Fried.
1) What
But Tiffany Fong, who has SBF on speed dial ever since he’s been holed away to await his trial, poured some fire extinguisher on the flames of speculation:
As things stand, we know that SBF is not responsible for the BALD rug. He may want to include that in his defense strategy.
Last but not least, there was a bit of a discussion surrounding stablecoins and their utility. Stables have established themselves as the one useful thing crypto has done for the masses:
Memes
This week, we’re looking at the correlation and causation of hairlines and their impact on the crypto industry. A clear pattern has been established:
Don’t tear your hair out over all this. Better times ahead. See you next week!
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