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PLUS meltdown for Bitboy as SEC sues Impact Theory
🗞 Market commentary.
GM it’s time to shill it and spill it!
The markets are a bit boring at the moment which means drama on crypto Twitter is going to run rife as popular market commentator scammer, memecoin shiller and the SBF hunter and social media superstar Bitboy_Crypto has officially been kicked out of his own company.
It has been revealed that TJ Shedd & Justin Williams, who hold a stake in the Bitboy_Crypto brand, are “couping” Ben to the curb due to an unfortunate substance abuse relapse and for the emotional and financial damage he has done to his employees.
Judging by the reply guy tweets, something major happened during a recent trip to Denver which appears to be the tipping point for TJ & Justin. Whilst a relapse is unfortunate it doesn’t take away or justify his actions his negative actions as a market commentator, crypto educator and all-around larp, should not be forgotten. I wish him well but the space needs a flush of bad actors again.
Karma is a beach.
Whilst Ben gets kicked out of his own business UniBot adds its first layer 2 integration, Base, letting users bridge over, make instant swaps and continue to fuel the Base memecoin scene. The signal has been sent and the tool kit upgraded. The Base degenerate traders are now armed, dangerous and ready to ape instantly.
Meanwhile, Hex Founder, and Unofficial Gucci Ambassador, Richard Heart will be appearing in court on November 28th as the SEC pressed charges of “Misappropriating Millions of Dollars of Investor Funds from unregistered securities.”
TLDR, fork everything, create a cult and manipulate them with hopium & copium to make $1BN of magic internet beans.
If only Richard Heart was around to make a Friend Tech account, it would probably end up being the most popular fashionista-style page.
And finally, in a surprise SEC legal filing yesterday, the Impact Theory Podcast company, co-founded by former Quest Bar Co-Founder Tom Bilyeu, was fined $6M for the “Founder's Key” NFT collection they promoted during the previous bull run. With haste, they settled and the SEC has ordered the NFT collection to be destroyed. Ironically, this still leaves the business $24M in profit… yikes!
🤓 In today’s email.
Degen corner. OnlyFans Infiltrates OnlyFriendTech
DeFi insights. 10 of the hottest insights
ICYMI. Podcast with Thales, Research on Bumper Finance and the Lybra V2 interview
Top Tweets. BoldLeonidas, CT influencers are back to posting food pics
And finally. Are you ready for REK-tember?
🔥 Degen corner.
OnlyFans Infiltrates OnlyFriendTech
Well, that didn’t last long, did it? Last week’s hot narrative is this week’s old news as “OnlyFriendTech” activity, fees and new user acquisition fall off a cliff as crypto Twitter turns to the next super shiny magical internet bean.
As we were all dumping on our frens, promoting “sleak and sexy chat rooms to financial freedom,” the parent company of OnlyFans has been buying your Ethereum bags in a recent financial filing showing a $20m purchase back in November.
This disclosure of Ethereum comes perfectly timed as OnlyFans content creators, superstars and everyone in between was flocking over to SocialFi superstar Friend Tech to cash in on its initial hype which, according to whale_hunter’s dune dashboard… lasted just 3.5 days and has so far netted over Ξ2,387 fees.
Friend Tech devs quickly added pictures allowing “influencers” and “content creators” to post images turning OnlyFans Subscribers into OnlyFans Investors. Yes, that does now mean you can now justify (to your wife or girlfriend) your monthly subscription as a long-term investment.
Is this a perfectly timed intervention by the OnlyFans team to hint that there might be a tipping or payments service integrated into the platform where subscribers… sorry… INVESTORS can now pay, tip and dare I say stake ETH or any other compatible crypto?
And will Friend Tech keep their clean-cut crypto-friendly image or follow the money of some of the internet’s most prominent gamers? (yeah I bet you thought I was going to say something else as we can’t forget the gamers flocked over to Friend Tech as well).
👀 DeFi insights.
The important bits.
Aevo - Aevo intern hinting that Sept is a big month, possibly being the full migration of Ribbon Finance over to Aevo - read
Aerodrome - Goes live with the airdrop in progress - read
DeFi Garage - “RugPull” launches tomorrow - read
JPEG’d - Tetranode is on a mission to make it great again - read
Thales Market - launches on Base as “speed markets” get added to Arbitrum - read
Lybra Finance - V2 audited by Consensys ahead of the V2 launch - read
Mozaic Finance - Launch a $10,000 easter egg hunt - read
NoloBot - $10,000 trading competition begins Sept 1st - read
Parallax - Launches staking vaults in conjunction with TGE - read
Pepes Game - Is going omnichain and heading to Base - read
📰 DeFi news.
Even more important bits.
DCG and Genesis Reach Agreement enabling up to 90% in recoveries - read
Hashdex joins the spot BTC ETF race with a strategy that doesn’t feature a Coinbase surveillance sharing agreement instead they will use prices and acquire spot BTC via CME and include both spot and future positions - read
Impact Theory podcast charged by the SEC for its “Unregistered Offering of NFTs” and highlighted by ZachXBT back in 2021 - read
Mantle released a treasury boot-strapping proposal outlining a deployment strategy with a focus on risk management. DeFi_Maestro breaks it down - read
Polygon Founder Sandeep says “POL is a massive technical upgrade to MATIC” - read
🫠 ICYMI.
Life gets busy so here’s what you’ve missed.
Podcast: How Sports Betting & Derivatives Are Crypto’s Killer Apps
Listen & Watch.
Grant was joined by Padzank from Thales and Overtime Markets. This conversation will teach you how binary options markets on Thales are changing the game and making options accessible to all DeFi and crypto users.
Tune in on Spotify | YouTube →
How to Make the Most of Bumper Finance: Explainer Guide.
Research.
Bumper is a price protection protocol that protects user assets from downside volatility akin to setting a stop loss on your portfolio through a process known as “Bumpering your asset”.
Lybra V2: Fireside Q&A with the Lybra Team.
Interview.
With Lybra V2 Mainnet being imminent, it’s important for certain questions to be asked and answered. And as fate weaves its tapestry, we pounce upon the chance to roast the team with scorching queries, much like ravenous wolves feasting upon the succulent marrow of info.
🐥 Top tweets.
To save you doom scrolling.
vibhu, keeps it real
CryptoDonAlt, wen stage 3?
BoldLeonidas, we are at that stage of the market… again
🦍 And finally…
REK-tember is fast approaching, typically seeing a 7% drawdown on Bitcoin and with a number of ETF approvals, denials or delays happening in September we could be in for an extremely bumpy ride.
On-chain trading seems to be keeping degenerate dopamine levels stable as the price action on CEX’s continues to leave us frustrated and bored.
Right now, we’re keeping an eye on our favourite projects across the board as if the mythical REK-tember does happen we might see fresh opportunities arise.
much love,
blocmates team 🫡
🤝 A final word.
A quick word from our super awesome sponsors who help us make this all possible...
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appreciat 😊 , great work