Hello Superstar! 🌟
We hope you’re fully charged! 🔋 To add some extra fun and laughter to your day, we’ve put together a lineup of exciting news and hilarious content just for you! So, grab your cup of rocket fuel (aka coffee) ☕, relax and enjoy the ride! (Our AI has been working hard 🤖 and thinks it has some insights you won’t want to miss. 🤔)
💸 Banks Say bye bye
👨💼 Top G gets a taste of his own medicine
🐸 Pepe Coins in 30 seconds
🤖 ChatGPT doesn’t like Binance
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US Banks Go ZOOOOM…
May is upon us and it’s shaping up to be a doozy. We’ve got one big thing happening this month – and they’re both worth keeping an eye on. 👀
The banks are dropping like flies. Seriously, we’re starting to wonder if they all just finished an intense F45 class with Mark Wahlberg. 🏋️♂️
In the past couple of months alone, we’ve seen:
- Silvergate Bank,
- Signature Bank,
- Silicon Valley Bank,
- First Republic Bank,
and even the second largest bank in Switzerland, Credit Suisse, all collapse. 💸
It’s getting harder to keep track of them all than it is to keep up with the Kardashians. 😂
But wait, it gets worse. The FDIC has just sent a consent order to Cross River Bank, a crypto-friendly institution that works with big players like Coinbase and Circle.
What did they do wrong?
Well, apparently they engaged in “unsafe and unsound” lending practices. Oops. Suffice to say Cross River got the “Check-Yourself-Before-You-Wreck-Yourself” notice. 🙊
So what’s the big deal?
Well, Cross River Bank is one of the last big crypto-friendly banks standing. If they go down, it could spell big trouble for the crypto industry. So hold onto your hats folks, this month is gonna be a wild ride! 🤠
An Open Letter to Low G
Dearest Andrew,
We recently caught wind of your opinion that the young and talented “crypto-kids” are no longer able to strike it rich with their digital ventures, and we must say, we don’t care about your opinion.
While there may be some nefarious types out there who have profited from scam coins and sketchy NFTs, there are also plenty of scrappy entrepreneurs who have done their homework, rolled up their sleeves, and put in the hard yards to make a success of their crypto investments.
Maybe if we all had as much experience and ‘real-world skills’ as you, Andrew, we would be able to tell the good guys from the bad. (coughs*)
Speaking of experience, for someone who seems to be an expert on the ‘do’s and don’ts’ of online entrepreneurship, we find it surprising that you choose to belittle the idea of cryptocurrencies. Didn’t you own some 20 BTC (Oops! I’m sorry, Romanian Authorities seized them)
After all, we do believe you make a tidy little profit selling courses yourself. But let us not quibble over semantics; each to their own, we say! If anyone can make a buck selling their digital wares, then let them do so.
Yours truly,
The Wise Guy
Peeping PEPE Coin
PEPE is now a top-100 crypto since it was deployed on April 18 and has reached a market cap of $500 million, making this a faster rally than Lightning McQueen. ⚡
QuickFacts:
- PEPE is officially the most traded crypto on DEXs in the past 24 hours. In the PEPE-WETH trading pair on Uniswap, there was over 120 million in traded volume, over 15k interacting addresses, and over 13k buying transactions.
- PEPE is the most traded, even beating Dogecoin and Shiba Inu. 📊
- 2.9 quadrillion is the amount of $PEPE held by the largest holder, who made close to $1.5 million because PEPE pumped by 60%. 💰
- The Google search trend for “pepecoin” has a 100 rating during the peak of PEPE mania in April. 🔍
Robo-Sabotage? Chatbot Is Spreading Rumors about Binance
👀 It seems like even Binance, the biggest crypto exchange, isn’t immune to online trolls with agendas.
🤖 Apparently, an AI-powered disinformation campaign is targeting them by falsely linking their CEO, CZ, to the Chinese Communist Party.
🕵️ Binance’s chief strategy officer, Patrick Hillmann, attempted to replicate the conversation with ChatGPT. He searched:
- Who is CZ? 🤔 Didn’t Work
- Is CZ Chinese? 🤔 Didn’t Work
- Is CZ Linked to China Petroleum Corporations? 🧐 This Worked
🚫 Despite Binance’s denial of any connections to the Chinese Communist Party, ChatGPT accused Zhao of developing a social media platform for a state-run oil corporation. This is impossible given that Zhao was still in secondary school at that time. 😒
Honorable Mentions 🏆
- Coinbase complaint calls crypto exchange’s KYC procedures ‘unlawful’
- Litecoin Community Introduces LTC-20: An Experimental Standard for NFTs
- Sotheby’s launches NFT marketplace for transactions on Ethereum, Polygon networks
Are You Looking For Jobs In Web3?
- VESS Labs is hiring a part-time software engineer
- Polygon Labs is hiring a Technical Writer
- 3Box Labs is hiring a partner engineer.
Crypto Market Watch ft. AI🚀
(This section is exclusively written by AI tools)
Altcoins are struggling in the market and will only start to rise again once Bitcoin breaks $30K and Ethereum bounces back against BTC.
Altcoins are currently displaying weakness across the board. In order for them to pick up, two things need to happen:
- Bitcoin must break $30K, which will instill confidence back in the markets.
- Ethereum rebounds against BTC.
- Once these two ingredients are fulfilled, altcoins can be expected to continue to rally.
Twice weekly crypto goodness, coming your way! Catch us every Tuesday and Friday.
Disclaimer: The author(s) of this newsletter are not responsible for any investment decisions made by the readers based on the information provided in the newsletter.