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This Week on Crypto Twitter: Bitcoin Whales Buy the Dip, Nic Carter Defends an Investment, SBF Memed as Atlas

Illustration by Mitchell Prefer for deciphering

Bitcoin has been struggling for three weeks to maintain over $ 20,000, and this week Was no exception— At the time of this writing, the world’s most popular cryptocurrencies were just above $ 19,000. Many Bitcoin maximists didn’t seem to worry too much. And others are buying dips.

With the CEO of MicroStrategy Whale-sized Bitcoin HOD Ler Michael Saylor announced another major BTC purchase, which didn’t seem to impress professional gold economist Peter Schiff.

Nayib Bukele, the authoritarian president of El Salvador, also bought more BTC. Naturally For a normal column reader.

But Sailor and Bukele, with a little twist, weren’t the focus of the week. Venture capitalist Nick Carter, a Bitcoin fan, said on Tuesday that one simple tweet would arouse the wrath of the laser-eyed masses and invest in Ethereum and Solana-friendly wallet-based authentication tools. Announced the decision. dynamic..

The pain of pure Bitcoin was probably best illustrated by tweets from Mission Bitcoin when it learned that Carter was investing in other things.

Carter responded by roasting the roaster.

He added: “I didn’t really care about the Laser Eye Crew.”

Danheld, Kraken’s Director of Growth Marketing, was one of Carter’s advocates.

$ 47 million

Last month, the cryptocurrency exchange CoinFLEX said,Continuing uncertainty, including counterparties.. This week, CEO Mark Lamb has a counterparty, Roger Ver, also known as “Bitcoin yes”Former Bitcoin Evangelist and currently Sakura Bitcoin Cash.

Shortly before Ram’s tweet, Ver dismissed the idea as “some rumors”, claiming that CoinFLEX was actually in debt … to him!

Ram called Ver’s denial a “tactic”, and yes, Ver reaffirmed that it was definitely thanks to CoinFLEX and not the other way around.

BlockFinalized

FTX CEO Sam Bankman-Fried said in June $ 250 million credit injection After the company announced that it would reduce its workforce, it became a cryptocurrency lender, BlockFi.About 20%“Dramatic changes in macroeconomic conditions” are quoted.

In an interview with NPR Last month, Bankman Fried was on his exchange responsibility To rescue a crypto company that is sick in times of crisis. As he said, the BlockFi deal was just closed.

The financial and investment news account @Stocktwits used SBF as Atlas.

Dan Primack, Axios’ business editor, didn’t like the deal.

Elsewhere

According to a newly emerged report, some hedge funds are “Hundreds of millions“Shorts the tether after the collapse of Terra. Leon Marshall, Head of Institutional Sales for Genesis Global Trading, told the UK financial news agency that his hedge fund was “Hundreds of millions of dollars..

Tether CEO Paul Aldoino responded to the report in a long thread, writing that the short cell is just one aspect of a multifaceted attack on Tether’s credibility, which also relies on “FUD” and “troll forces.” rice field.

Ardoino also said that Tether has endured many accusations that its USDT stablecoin is not backed by 1: 1 by cash reserves. He emphasized that Tether is fully backed by proven reserves and is working with regulatory agencies to share some impressive statistics on the number of redemptions Tether has processed. ..

On Wednesday, the US Securities and Exchange Commission rejected Grayscale’s application for Bitcoin Spot ETFs by digital asset manager, and the company has taken sufficient steps to protect investors from “illegal and manipulative practices and practices.” He said he had not taken it.The next day, Grayscale CEO Michael Sonnenshein said his company was bring the action agency.

Finally, according to charts shared by Ryan Selkis, the founder of crypto market intelligence provider Messari, blockchain game Axie Infinity is no longer a profitable company.

Gamers have abandoned the Play to Earning title altogether.

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