9/15/23: SBF's Secret Diary Leaked 📔🍴⚔️

Author

Valko
September 15, 2023

Today’s Top Stories ⌐◪-◪

  • 📔 SBF’s 250-page diary of justifications published by New York Times

  • 🍴 Nouns Fork ends in 7hrs with 50% of holders opting to leave

  • ⚔️ Politicians battle over CBDC with 1 bill to pilot and 1 bill to ban

‘One of the Most Hated People in the World’: Sam Bankman-Fried’s 250 Pages of Justifications

The FTX founder wrote hundreds of pages of reflections and self-justifications while under house arrest, shedding light on how he may defend himself at his criminal trial next month.

⌐◪-◪ → This diary is packed with absolutely crazy quotes and is totally worth the read. In several instances, SBF places the blame entirely on his ex-girlfriend, Caroline Ellison. Honestly, this feels like a setup for the “mental insanity” defense card. Don’t underestimate what sociopaths will do to save themselves.

NounsDAO Members Support Treasury Split Currently Worth $18M - NFT Plazas

NounsDAO is on the brink of a treasury split — currently worth $18.65 million — due to members partaking in a "rage quit." Click for details!

⌐◪-◪ → A lot of people think Nouns has failed, but I disagree. They’ve created a solution for hostile takeovers and treasury drains, a threat that all DAOs face. Those “forking” (50%) will be able to return their Noun to the treasury in exchange for 36 ETH ($60k). In many ways, this is a purge of the financially minded from the creative builders. To grow you must prune.

Dueling Digital Dollar Bills Debated in Congressional Hearing on U.S. CBDC

House Republicans want to ban U.S. CBDCs before they’re even formally proposed by the Federal Reserve, but one senior Democrat is pitching a bill that goes the other way.

⌐◪-◪ → This is a very nuanced topic, but the mere idea of a blockchain run by the Fed is pretty ironic. Blockchain was created to restore power to the people, not keep it with the banks/corps/govs. While a CBDC could be an improvement in terms of performance, costs, and transparency, it would absolutely make matters much worse with regards to financial privacy.

Peripheral Vision ⌐◪-◪

⛓️ Crypto & DeFi

  • Binance US Chief Risk Officer and Head of Legal resign - yikes

  • USDC is now integrated on Cosmos as Noble USDC

  • Bitcoin clean energy usage now exceeds 50% - take that Elon

  • F2Pool, bitcoin miner, generously returns $510k tx fee to Paxos

  • Vitalik invited to Hong Kong after concerns over crypto-friendliness

  • R3, blockchain startup backed by BoFa & Intel, fires 20% of staff

  • Astar Network partners with Polygon for new zkEVM L2 solution

  • Nil Foundation partners with Taceo for ML model verification on ETH

  • Swan and BitGo partner to launch US BTC-only trust company

🏦 Wallstreet

  • Swift says three central banks are testing its CBDC solution

  • Genesis ceases all crypto trading operations - classic CEX

🏛️ Legal & Regulatory

  • SEC accuses Binanace of numerous discovery failures - yikes

  • Celsius Exec pleads guilty, agrees to cooperate in case against CEO

  • Crypto miners Celsius and Core Scientific reach $45M deal

  • Ex-Deutsche Bank investment banker to plead guilty to crypto fraud

  • Pro-BTC Congressman says “Sound money is essential to freedom”

🌎 Rest of the World

🖼️ NFTs

  • FriendTech daily earnings exceed Ethereum - this can’t end well

  • CoolCats to be first NFT featured at the Macy’s Day Parade - eye roll

  • Atari Founder roasts Play-to-Earn games as “greater fools theory”

  • Spanish Soccer league La Liga to roll out NFT fantasy soccer games

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