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#crypto #CafeDeF

[Tucker Carlson @TuckerCarlson]

Ep. 19 Debate Night with Donald J Trump

[Peter McCormack 🏴‍☠️🇬🇧🇮🇪 @PeterMcCormack]

We have a three part interview with @LynAldenContact diving into her book coming out very soon.

Buy it now!

[Alf @MacroAlf]

European services PMIs are printing as bad as in 2013 when Europe was wrestling with the consequences of the 2011-2012 debt crisis and the housing market was dead in the water.

Yet the ECB is still busy hiking.

Sounds like a great plan...

[Lyn Alden @LynAldenContact]

Shale Wells Are Losing Oil Output Faster Than Expected, Study Says
https://t.co/i8n1DmHeJw

[WarrantWhisperer @pizdets17]

@WallStreetSilv I’m from Ukraine and even I think this is wrong. Let that sink in.

[Julie W. Design @juliewdesign_]

@projectgreybird well 👀
runway left, pika labs right

[Miles Deutscher @milesdeutscher]

There has been more $BTC liquidations today than during the FTX collapse last November.

[The Big Pharaoh @TheBigPharaoh]

Unbelievable. 92.9% increase in the price of fresh meat and poultry in Egypt versus last year. Just imagine the millions who will be deprived of sources of protein and the effect of this on future generations.

[TRON DAO @trondao]

With aggregated monthly protocol revenue peaking at 692M in May, #TRON leads the way alongside #ETH as leaders among L1's based on protocol revenue generated.

Read more from @tokenterminal 👇

[Satoshi Fever @Satoshi_Fever]

@saifedean @americanhodl8 Whenever I hear normies talking about "fiat" now in whatever fashion, I smile. That shit did not exist pre #Bitcoin outside of economics classes (I assume).

Like it or not, the new paradigm is here.

[Lukas (computer)🔺 @SCHIZO_FREQ]

It's honestly insane there's nobody documenting the constant sitcom that is crypto twitter. This stuff would read like a cowboy fantasy to my parents. Like, last week:

Coinbase released it's own chain called BASE. Brave early-adopters bridged funds over to try it out and explore, because you can usually make a decent stack being early to a chain. The first big memecoin on BASE was called $BALD, in what supporters called "total norwood victory."

It went up like 100x in a day, but the only bridge back to the ethereum mainnet broke - stranding everyone with millions of dollars they couldn't actually use or get into their bank accounts. Everyone freaked out, obviously, but the bridge got fixed and everything went back to business as usual...

Until the only exchange you could buy or sell the token on (called "LeetSwap", lmao) broke, so people couldn't sell. Nobody realized for a while and we just got a burst of pure adrenaline. "OH MY GOD, LOOK AT THE $BALD PRICE!? IT'S GOING STRAIGHT UP!!"

Eventually people realized it was going straight up because nobody could sell. The euphoria melted into horror. Commence freakout Pt. 2 as everyone realized they were stranded again. "It's over!! We got scammed again! It's a honeypot!"

The LeetSwap boys apparently thrive on pressure though, so they got things back up and running real quick. Disaster 2 averted. The town was saved, though all the citizens were starting to accumulate brain damage from the emotional whiplash at this point.

Next, people notice someone buying the token in 50k clips, just accumulating a massive amount even thought the price was near it's all-time-high. Some people research the wallet making the buys and convince themselves he's a coinbase insider. Rumors circulate that $BALD is a coinbase marketing project, or potentially it's not just a memecoin but an actual official coinbase project that hasn't been announced yet. The price starts taking off again - up until the liquidity gets pulled*. It turns out they never locked liquidity! Rugged a third time.

People start looking into the guy who made $BALD and realized he's been associated with a bunch of other scams in the past. Maybe you're wondering "why would people invest millions of dollars in a coin released by a known scammer on an untested chain with no infrastructure?" and that's a valid question. The answer is the people doing this either have balls so much bigger than yours or so much more mental illness than you, they're essentially a different species. You should think of them almost like characters in a greek myth.

In light of the final scam, snarky commentators started asking why nobody thought to check on the history of the guy who made the coin *before* investing, but honestly, it wouldn't have even changed things. If the average onchain investor saw the coin's creator had tens of millions in his wallet from previous scams they'd go "NICE! I bet he can market the shit out of this. Gonna cop a bag asap" because the things that make someone a good scammer have almost 100% overlap with the things that guarantee your ability to make people a lot of money.

This is about where I checked out before I went on vacation. It seems like the scammer's name was "milk" or something, and he's apparently tied to some bigger names in the sphere. We probably get a fun little witch-hunt where VCs pore over all the transactions he's ever made to see if he ever interacted with people they don't like in a way that'd let them paint their competition in a negative light, but I'd be surprised if there was any legal action. Maybe there will be - this all happened on Coinbase's chain, and if they get enough bad press or feel embarrassed enough maybe they'll do something.

Who knows.

We'll forget all about it in a week when we get the next crypto twitter drama airdrop

[Thorns and Thistles | BIP-110 @ThornsBTC]

Is Moody's adjusting for the bondpocalypse?
https://t.co/XZdRdl1peo
@FossGregfoss @saifedean

[HC Capital @hc_capital]

Despite being nascent, with derivatives-based products only contributing around to total DeFi TVL, but this has rapidly gained traction.

The derivatives landscape is quite substantial and entails numerous interesting projects
across a wide range of sectors.

Let's take a look!

[Wall Street Mav @WallStreetMav]

Everything is fine ... 🔥🔥🔥

Also average 30 year mortgage rates hit 7.39% this week, the highest in 23 years.

[Kieran.eth @KieranWarwick]

Three reasons why the next gaming run is going to hit differently.

1. Fun games you can recommend to a normy without feeling like an idiot.

2. Barrier to entry has gone from $600 to Zero.

3. No wallet required.

After three long, hard years, we are nearly there.

[Wu Blockchain @WuBlockchain]

Breaking: PayPal said it will launch a U.S. dollar stablecoin, PayPal USD (PYUSD), issued by Paxos Trust Co. Backed by U.S. dollar deposits, short-term Treasury bills, and cash equivalents. PYUSD will gradually become available to PayPal's U.S.-based customers. BBG https://t.co/PGxKhfu4DU

[Luis Pedro Coelho @luispedrocoelho]

So far, when it comes to LK-99, everyone is behaving like the cliché:

China: a bunch of university labs worked to replicate as fast as possible

US: a private company sponsored a replication as a marketing gimmick

Russia: cat girl, but whole thing is unclear

Europe: on holiday

[CS Bastiat ⚖️ @CSBastiat]

I rarely get as disgusted as I am right now with MakerDAO's Spark Protocol.

It's one thing to block US residents.

It's a whole other thing to block anyone in the entire world who is using a VPN for privacy.

This isn't just govt cuckery.

This is an actual war on privacy.

[Satoshi Kuskateko @RealKuskateko]

Such a great statement describing what the West did to the global south in the last century.

[Emperor Osmo 🐂 🎯 @Flowslikeosmo]

Perpetual DEXs are among the most profitable components of DeFi. Here are the most profitable DEXs based on earnings in the past 7 days:

🥇 DYDX: $4.5b | $721k
🥈 Gains Network: $538.8m | $276k
🥉 Synthetix: $1.4b | $220k
4️⃣ Vertex: $305m | $80k
5️⃣ Mux: $128.3m | $67k