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How’s it going fellas and fellitas?

What a week this was huh? For us memecoin enjoyooors, we certainly had a grand time. So I think it calls for a celebratory sip! 

Ahhh, nothing like the first beer on a Friday evening. 

It’s been a while since I’ve spoken to you in positive spirits, so hopefully, ‘Uptober’ will bring up even more positive chats. However, in terms of general news and general developments, we had a mixed bag, to say the least. 

From new launches to weird regulatory behavior to some definite Fed behavior, we had it all. But the cherry on top was that god-awful HBO documentary claiming Satoshi is some dude named Peter Todd. Legacy media is so finished, man, it’s not even funny. 

Anyway, I think it’s time we get this thing going. Let’s run through what happened this week. 

Fed Behavior 

I know we have a lot of Feds among us on CT, but this week, the level of fed activity felt like an all-time high. 

For starters, the literal FBI said they made their own fed coin called NexFund AI. The purpose of the coin was to entrap dodgy KOLs and market makers because they believed a lot of them had been taking part in market manipulation. 

The game was to bait them, catch them, then flip them to the Feds' side and use them to entrap even more KOLs and shady market makers. 

They did manage to catch a few people, but there has been no more information on the punishments and their severity.

Now, let’s switch topics from the FBI to FBI GCR: ZachXBT. 

Our very own on-chain sleuth has been on an absolutely hilarious tear this week. 

To start, he had a public feud with Ansem, now being dubbed Scamsen. The nature of the feud was fairly straightforward, and Ansem hit good trades in WIF and SOL early on. He used the clout of the trade to shill numerous low-cap coins, all of which have the Burj Khalifa char nowt. 

The behavior is obviously very unethical and should be treated as such, but for some reason, it became a hot topic of debate. So, if you want to know more, check this article. 

Oh, you thought he was done? 

As one main character fades, a new one is born. 

CT’s new cult hero is Murad. He has been shilling SPX6900 non-stop, and it went on a glorious run from a $10M market cap to an almost $700M market cap. 

Of course, on the back of such a shill, you will become incredibly famous. Now he has been shilling a bunch of other memes and making tier lists, so ZachXBT has come with his cloak and dagger. 

To be honest, what he did is not as bad as people are making it out to be. He simply made a tweet posting 11 of Murads wallets.

Now, look, the blockchain is public, and with a bit of research, anyone can find these wallets. Murad made the decision to put himself in the spotlight. Now, he’s in a tough position because when he sells, CT will flame him and simultaneously cause all his followers to sell. 

The only concern is that Zach has now put Murad in a tough spot in terms of OpSec because his wallets are now known by people who would’ve otherwise not made the effort. You never know what that can lead to. 

Staying on theme, let’s make the switch from the Feds to regulatory bodies. 

Regulators Vs. Crypto - Round 45 

Let’s start with an organization that we rarely speak about: the IMF. An organization that has no jurisdiction or binding capacity yet somehow gets all the importance in the world. 

With El Salvador now making a recovery as a country, they are naturally inclined to enter discussions with them on economic strategy. Guess what their suggestion was? Yep, they told them to re-evaluate their Bitcoin-focused strategy.

They said that although in three years of adopting it, the risk hasn’t arisen, it’s good to take a proactive approach and mitigate the chance of it happening. 

All I have to say to that is, “LMAO.” Hopefully, Nayib stays firm in his stance, and if not, we’ll see how things turn out. If you want to know more about this specific story, check this article.

Of course, we can’t have a regulatory talk without Mr.Gensler making his appearance. 

The SEC gave Crypto.com a Wells Notice. Yet another victim of their aimless spray-and-pray tactic. 

Of course, the claims are the same as those of every other organization they have sued. Fraud, money laundering, and misappropriation of funds. With no evidence, they go and issue Wells Notices. Naturally, Crypto.com replied by counter-suing, and now we have to wait and see how things unfold. 

In some more positive news, we have the UAE on our side. 

The government announced that it will be removing all taxes on crypto transactions in the UAE. Unfortunately, this also means that there will just be a bigger influx of crypto scammers going to the UAE to avoid jail time and extradition.

TradFi is Crypto-pilled 

The crypto and TradFi crossover has been going on for some time now, and things don’t seem to be slowing down. 

Let’s start with this tweet. 

EMBED: https://x.com/sassal0x/status/1842624022082633963

As you can see, they’re giving a full-on corporate suit presentation to talk about our internet coins. With BlackRock shilling this all across Wall Street and beyond, the hopes of them buying our bags keep getting stronger. 

To go with BlackRock’s shilling, we have Visa, the biggest payment company in the world, launching a tokenizing platform. 

The platform will be called VTAP, and it will allow for the tokenization of different assets on Ethereum. This is going to be used by massive clients, with the second largest bank in Spain already being confirmed as a client. 

Pretty big news. 

On the other side of the world, we have positive news from the National Bank of Bahrain.

They recently unveiled a Bitcoin investment fund. The purpose of this fund is to give accredited investors and institutions across the Middle East exposure to Bitcoin gains with protected downside risk. 

The oil money is buying our bags, bros. We`re going to be unfathomably rich. 

Some Crypto Native Developments 

We rarely ever talk about protocol developments here because the news takes up so much mindshare. But this week's developments are too good to ignore. 

Let’s start with gaming. 

A new game called “Off The Grid” by Gunzilla is taking the industry by storm. 

It has been tested by many gamers and popular streamers like Ninja, who have all attested to it being a good game with AAA qualities. The game is available on PS5 and the Epic Games store. 

The reason we should care is because the game assets live on the GUNZ blockchain, which is a custom Avalanche Subnet. This is a huge step forward for Web3 gaming. 

Some other big news was Phantom, the most popular Solana wallet, completing its integration with Base. 

Solana arguably saw the largest influx of users across any blockchain, with most of them using Phantom. Now, imagine all these users being able to access Base easily. This could be huge for a Base memecoin season. 

Lastly, Magic Eden, the NFT marketplace, has teamed up with gaming giants Ubisoft.

They are launching a game called Captain Laserhawk, which will be live on the Arbitrum network. It looks like a fun shooting game, and the fact that Ubisoft is involved means it`s likely to be pretty good. 

Very bullish for crypto gaming. 

What to look forward to?

In terms of what I’m looking at, things remain unchanged. 

I have allocated to certain AI and DePIN bags and am happy to sit on them for a while. I’m still keeping a close eye on the Sonic ecosystem because there will be some cookers there, and in terms of day-to-day, it’s mostly memecoin degeneracy. 

However, many perp traders I’m friends with are looking at VC coins for swing trades. I suck at perp trading, so I’m not taking part, but things like SAGA, STX, TIA, ALT, and that similar bag of coins are apparently looking ripe. Check for yourself, though; don’t ask me for refunds if you get liquidated. 

Anyway, that’s me done. The boys have arrived, and so has my second pint, so I think I`ll leave it here.

Hopefully, you enjoyed our little chat, and I`ll see yall two weeks from now.

PEACE. Emiri.