All of this week's crypto Twitter drama, explained.
This week we actually prepared this section. CoinMarketCap is becoming professional.
Without further ado, let’s get you up to speed on the latest and the greatest from Crypto Twitter.
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Who Went Viral This Time?
Our first new section will be covering the most informative and thought-provoking threads of the week. The real MVPs of Crypto Twitter, week in, week out.
This week, we’re starting with some low-hanging fruits. ZachXBT, a CT household name and crypto-attorney-general-in-charge, dropped another viral bomb, uncovering another batch of scammers in the NFT and crypto space:
The thread covers seven figures worth of rug-pulled cryptocurrency that went towards diamond watches and God knows what else. ZachXBT is really doing the Lord’s work by tracking down these scammers and at least attempting to make crypto a better place.
The other viral bomb of the week did not exactly come from Crypto Twitter, but is just too juicy to miss:
Yes, it turns out all this time that when Michael Saylor bragged about how easy it was to not pay taxes with crypto, he was (allegedly) not paying taxes. Be careful who you show off to, kids, because you never know whose parents (attorney generals) are watching you.
Saylor did not exactly address the issue but chose to stick to his brand message:
Talk about commitment to the cause. Let’s see how this case pans out — but Michael Saylor is all in on BTC either way, tax fraud or not.
Who Is Arguing in Way Too Public a Place?
One of this week’s major controversies was around the to-be-released recovered coins from Mt.Gox. You know, the infamous crypto exchange whose collapse almost killed Bitcoin (that time for real).
There was quite a bit of confusion around whether the coins are going to hit the market and presumably create a lot of selling pressure, but Eric Wall cleared that up:
However, Cobie thinks the coins are going to hit the market eventually (he’s probably right about that) and when they do, they may create mayhem. Even worse, the release date may not be a coincidence:
Another case of “uh oh, this better not happen,” but we will just have to wait and see.
Talk of the Town
The biggest gossip piece this week undoubtedly was the supposed controversy around Ava Labs hiring a law firm to litigate against competition:
That doesn’t look particularly good for Ava Labs, but founder Emin Gün Sirer rushed to dispel the allegations as FUD:
Crypto Twitter was divided on how believable the case against Ava Labs is. Cobie thinks it’s somewhere in the middle:
Others correctly pointed out that the leakers are not exactly unbiased (they defended ICP, another dubious project, before):
Yet others pointed out that Ava Labs should address the allegations directly and not only attack the messenger:
Crypto loves a good cliffhanger, so this one’s most likely not over yet. Safe to say that it’s probably not the last case of crypto turf wars either.
Elon Says Stuff
Moving on to the less depressing stuff. Like Elon tweets for example.
Elon scored a W this week when his allegations that Twitter is riddled by bots turned out to be “apparently mostly accurate.” Seems like there may be quite a few more bots on the platform than the 5% Twitter references:
Elon couldn’t help but note that he pulling out of the deal he offered may have not been so bad (or malicious) a decision after all:
A better version of Twitter with less bots would be beneficial for everyone, but it looks like someone other than Elon Musk will have to build it.
Our Favorite Coinfession
Of course, we can’t let this week pass without a good coinfession. And since there’s waaay too much negativity around these days, let’s go with something heart-warming:
Good for you, young lad!
We hope to see more such positive coinfessions in future editions.
Memes of the Week
Wrapping it up with some memes, because what would CT be without them?
Here’s the man that’s responsible for even more net worth now, considering the Merge is coming closer:
Watching this, do you feel comfortable adding another zero to your net worth, anon?
You should be, because there is surely absolutely nothing that could go wrong.
Our other choice is more of a how-to video that may come in handy the next time a bull market rolls around:
You never know when these sales skills may come in handy.
Till Next Week…
And that’s a wrap. See you next week and remember to keep your hands away from the leverage button.