Hey hey, crypto enthusiasts! ????????
Welcome to this week’s edition of our The Wise Guy newsletter! We’ve got an epic lineup of fantastic stories ???????? that are gonna knock your socks off! So, grab a cup of coffee (or tea ???? or whatever else floats your boat), sit back, and get ready to be transported into a world of limitless possibilities! ????????
- ????Twitter’s homepage logo gets doge-fied
- ????Binance CEO dismisses red Interpol notice gossip
- ????️Governance token’s value questioned as debate ignites
- ????Can ETH’s Shanghai upgrade overcome recent setback?
Twitter’s new homepage logo is very doge-y
Guess what? Twitter has had a makeover, and it’s definitely caught our attention! Instead of the iconic blue bird, we’ve been treated to the head of an adorable shiba inu dog ???????? – and not just any dog, it’s the face of the Dogecoin meme!
Elon Musk, the billionaire whiz kid who may have bought Twitter for $44 billion, isn’t stopping there. This latest move comes amidst backlash over Twitter’s decision to reserve blue check marks for paying customers. But when Doge comes into play, the world’s biggest problems fade away, right? ????
However, is this the right move for Twitter? While the adoption of the Doge icon may attract more users to the platform, it could also raise questions about Twitter’s priorities and direction. Crypto Twitter wants DOGE to become the currency of Twitter, but this could suggest biased priorities and potentially alienate users with diverse interests. ????
Binance CEO CZ Shuts Down Red Interpol Notice Gossip
Hold onto your horses, things got wild on social media when rumors started spreading that the founder and CEO of Binance, Changpeng “CZ” Zhao, was on the lam from the authorities! Apparently, Interpol wanted to bring him in, but CZ got sneaky and photoshopped the alleged Red Notice before sharing it on Twitter! ????????
The rumor mill started churning after a Twitter personality named ‘Cobie’ shared an on-chain message alleging that CZ was facing an Interpol Red Notice. But like the Wise Guys always say, “Believe half of what you see and none of what you hear!” ????????
The spread of this FUD (fear, uncertainty, and doubt) was not good for the cryptocurrency market, as it caused a panic and a sharp drop in Binance’s BNB token and the broader market. ????????
Is Governance the Real MVP or Just a Hype Train?
???? The Arbitrum token (ARB) is only a month old and it’s already found itself in the middle of a juicy controversy. The first DAO proposal, named “AIP-1: Arbitrum Improvement Proposal Framework,” had everyone talking. Unfortunately, it wasn’t all sunshine and rainbows, as community members voted against the proposal by an incredible margin of 100M ARB tokens to a mere 16M tokens (ouch!). ????
The issue causing all the fuss was the allocation of tokens, with 750M tokens slated to be assigned to the Foundation (or roughly 7.5% of the total allocation). Needless to say, some members of the community were not too happy with this arrangement. But hey, disagreements over token allocation are as common as taxes and death ???? in the crypto world, am I right?
What really sets this situation apart, though, is the Foundation’s response to the failed vote. Instead of accepting the outcome and moving on, they went ahead and moved the 750M tokens anyway ????, claiming that AIP-1 was just a “notice” or a “ratification,” not an actual vote. Oh boy, somebody call the drama llamas! ????
All jokes aside, this situation highlights just how important tokenomics are in the crypto world, and how disagreements over token allocations can create some serious drama.
Will ETH’s Shanghai Upgrade Save the Day After Recent Security Breach?
Well, well, well, looks like the Ethereum (ETH) network had a bit of a slip and slide recently. ???? According to reports, someone made off with some serious dough by getting their hands on Maximum Extractable Value (MEV) bot transactions. MEV is where that sweet, sweet, mining money is at. It helps miners and other players figure out their profits based on the order of recorded transactions on each block.
To make matters worse, this so-called villain reportedly got the funds and relevant tokens to execute the attack from the Aztec privacy protocol. Reports suggest that the thief made off with around $25 million in ETH – no small chunk of change! And what did they do with the loot? They invalidated MEV bot transactions and added some counterfeit ones of their own. ????
While the amount stolen isn’t as jaw-dropping as the infamous Ethereum DAO hack, there’s still cause for concern. How will this impact trust in the Ethereum ecosystem? People may also start to question the validators and their ability to keep the network secure in the future.
Market Watch ft. Wise Guy
Looks like bulls are back in the arena, but they’re not quite strong enough to break through that pesky $28,900 macro resistance ????. Fear not though, for Bitcoin is still holding steady above the $26,500 range and the top of the September 2022 channel top at $27,100.
So, what does the future hold for BTC? ???? a daily close below both support levels could open up the former range highs at $25,200. But on the flip side, a sustained break above $28,900 would pave the way for the May and June 2023 range highs at $31,700. Sounds like we’re in for a wild ride, folks! ????
Honorable Mentions
- South Korean Authorities Say “Terra-r” to Executives’ Assets Worth $160M ????????
- Euler Hacker Thank You! Funds Recovered and Returned by Cyber Thief ????????????
- Dragonfly Capital Takes the Plunge, Invests $10M in Bitget
Thanks for reading The Wise Guy By Hoshi!
