🦹‍♂️ Bitboys End Game: The "For The People" Crypto Bill

GM serrrs and serrettes yes,

Markets pumped following JP’s speech yesterday and the levels of hopium for 50 basis points raise in December are high. Come on Santa, don’t fail us this year with a rally to Valhalla!

The research apes have been digging into the motive behind Bitboys holiday to the Bahamas which might have something to do with his Crypto Bill that FTX back-shelved.

But don’t worry there are no half-naked videos of Gabriel Haines here…we’re keeping it PG and family-friendly…it’s (almost) Christmas after all!

🐥 Follow Twitter | 📊 Sub to YouTube & Spotify |🧑‍💻 Join the Discord

But before we jump in, and if you’re new around here, then hit that subscribe button. We’ll keep you ahead of the trend, drop you some alpha and so much more.

🔥 The Big Topic - A look into Bitboys Crypto Bill, the end game or the motive for a trip overseas? 🗞 Hot News - BlockFi files for chapter 11 bankruptcy protection, Phantom wallet goes multichain adding support for Ethereum and Polygon, Telegram to build a crypto exchange and an exclusive audio interview with SBF by citizen journalist Tiffany Fong 🛡 Chart of the day - $BTC, what happens next?🦧 Thread of the day - Thread from CoffeeZilla breaking down the BS interview between the New York Times and SBF 🎧 Podcast of the day - Jedi is joined by Metis Co-Founder Kevin Liu on this week's podcast

Ahhhh ffs, took the bait again.

BUT it’s different this time.

And for the record, I’ll give credit where credit is due (despite the potential legalities of stalking an internet trololol in real life) because you don’t often see this level of commitment and effort to farm Twitter engagement.

The way I see it, it’s admirable to fly halfway across the globe to go help a bro out whos had a few too many beers and woken up in a place unknown.

We’ve all done it.

The Bitboy “for the people” bill. Is that what this is all about? Because he ain’t playing no games!

It hadn’t truly clicked until watching Altcoin Daily this morning in this exclusive, 1 on 1 interview with Bitboy himself aka the bounty hunter aka the whistleblower aka 🤦‍♂️

It turns out he didn’t simply go on Altcoin Daily to shill his new book, but it was too, somewhat, shill his bill and tell his heartwarming story of betrayal and the corruption inside the FTX HQ.

It’s no secret that SBF had been the poster boy for legislation in an attempt to push through the potential defi-killing “SBF Bill” more formally known as the “Digital Commodities Consumer Protection Act of 2022, or DCCPA.”

The (kinda) TLDR version

Bitboy has been trying to put together a crypto bill “for the people” aka “the Financial Education and Inclusion Act of 2022” to act as a mechanism for giga brain industry people to have a seat at the table.

Bitboy needed a cool calm $3.6m to paaaamp his bill through political channels so went to SBF for help.

Contacted FTX and spoke with now former FTX US CEO Brett Harrison who liked the sound of his bill

3+ weeks pass (insert Bitboys suspicions) and nothing happens.

He speaks to former Commissioner Mark Wetjen the Head of Policy at FTX who responded “Oh yeah…actually…we’re not going to be funding that” and “we want you to leave that bill and come work for us” because “we’re trying to do a federal BitLicense”

So FTX snuffed out and binned off Bitboys bill in order to pursue a federal BitLicense which would give FTX a greater [control over operating] slice of the operational pie in the USA whilst posing a serious threat to defi (after all SBF is cefi).

Enter Bitboy’s “redemption arc” aka “for the people” moment.

He sounds the horn, unleashes the smoke signals and makes a video exposing this damming information. A few days later FTX US CEO Brett Harrison steps down (or does he get given the boot?!)

Bitboy claims that the now former FTX US CEO Brett Harrison was the mole that whistle blew to CZ leading to him liquidating Binances FTT position.

Ironic how both Sam Trabucco and Brett Harrison quit FTX only months before all this happened…strange really.

This brings a lot of context to this Tweet from CZ “…we won’t support people who lobby against other industry players behind their backs”

Let’s be honest, CZ probably had the insider scoop and saw how deep SBF’s political agenda into a BitLicense was. As the saying goes talk smack get whacked.

Cue FTT token NUKE 🤯

What happened after this…well we all know that story but what happens next? That’s a whole other story that we are dedicated to sharing.

Wen blocmates bounty boys in the Brahmanas?!

Soon serrrrr

***UPDATE: the plot begins to thicken***

Our Take

This is one of those awkward moments when a serial larper and community dumper cried wolf too many times but was actually kinda right?!

JFC…

And come to think about it…did SBF “donate” over $70m to political campaigns to hide from Bitboy?! A coincidence…that’s for you to decide ser.

Bankrupt BlockFi. In an unsurprising turn of events, the New Jersey based crypto company filed chapter 11 bankruptcy protection on Monday 28th. The company stated that they "will focus on recovering all obligations owed to BlockFi."

NFTs are LIVE on UniSwap where you can trade your favourite NFTs across major marketplaces to find more listings and better prices. UniSwap is also airdropping $5m USDC to historical Genie users PLUS offering gas rebates to the first 22,000 NFT users.

DOGE is pumping on the anticipation of being fully integrated into Twitter as the Chief Twit begins to reclaim the social media platform from the bots and give the power back to the people. With core DOGE dev Patrick Lodder, stating “1.14.7 should release this year, including new features.”

Telegram set to build crypto exchange in response to FTX’s collapse (or they’ve seen how degen we are in TG microcap chats) and found Pavel Durov announcing:

Kracks in Kraken as Kuts are announced by CEO Jesse Powell who made the announcement that up to 30% of the workforce was being let go to “weather the crypto winter.” Jesse also announced back in September that he was stepping down as CEO.

Phantom wallet goes multi-chain and adds support for both Ethereum and Matic. A smart move as Matic sees a rapid rise in NFTs, gaming and dapp creation whilst Ethereum still has the highest daily user demand.

Genesis in scrambles as the crypto brokerage rummages down the sofa to find pennies to keep bankruptcy at bay. However, at the time of writing the $1bn bailout that is needed does not look likely whilst the $2.8bn in outstanding loans continue to burn a hole in their balance sheet.

Bitcoin…The Road to Irrelevance (sounds like a Michael Bay Movie) claims the ECB as Bitcoins apparent stabilisation is “artificially induced.” Pls ser…no more fud!

In EXCLUSIVE news SBF talks in his first audio interview with citizen journalist Tiffany Fong. Check the thread out below or tune into CoffeeZilla video click here or Tiffany Fongs Original Video Here.

***UPDATE: Overnight SBF had his first live interview with Presenter Andrew Ross-Sorkin of The New York Times at Dealbook Summit

Our Take

The Bollinger bands, a useful indicator to see the spread of volatility, can also help to see visualise if the underlying asset is coming into a squeeze (the narrowing of the upper and lower bands).

What we see here is the FTX drama dump moving into a cooling-off period as the bands now begin to tighten as the price of Bitcoin enters its squeeze. What happens after a squeeze is a volatile move.

J Powell might be eyeing up a 50 basis point move on the 13th of December which could be bullish for crypto.

Bull Case, the bitcoin bulls make a break for the upside reclaiming the psychological $20,000 mark in time for Christmas

Bear Case, the bears and black swans sends us down towards the $13,800 - $14,100 mark in response to negativity in the news.

and a quick word from our super awesome sponsors who help us make this all possible

If you are a builder in this space and are hiring a remote-first team take a look at one of our partners, Deel. They allow you to hire, manage, onboard, and pay from anywhere in the world without the hassle. Yes, Deel allows you to pay your team in crypto too…

The latest thread

the SBF snowball effect simply doesn’t stop and mainstream media are trying to paint him our as a young degen who made an $8bn accounting error.

Yeah…but no. Coffeezilla is one of the top crypto detectives and breaks down the BS story that the New York Times is trying to paint following the Dealbook interview

The latest podcast

When Jedi METIS Co-Founder Kevin Liu (see what I did there?!) in an exclusive interview to talk about what decentralisation looks like from DAC's to soulbound tokens and the future of DeFi and the role that Metis gets to play in this revolution.

Tune in on YouTube or Spotify.

And that’s it anon, from the whole team we hope you enjoyed it!

Your opinion matters to us, if you’ve 3 minutes let us know how you found today’s edition.

Loved It | Average | Didn’t Like It

We’re ready to ape in, at any time. Got a good idea that needs funding? Send us an email with all of the info to [email protected]

Interested in sponsoring this newsletter? and get your project or idea in front of people who matter. Send us an email or Sponsor Section and we will see if it is a good fit for our audience!