Ian Miles Cheong, the Malaysian blogger who said “Hitler is my fucking idol”, is apparently confused by the idea of a Hispanic Nazi
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@bft.wtf on bluesky
@BennettTomlin
@bft.wtf on bluesky’s posts
The smartest venture capitalists in Silicon Valley: “oh my god he’s never read a book and he’s playing video games while meeting with us, he’s going to be a trillionaire clearly”
David Sacks is what you get when you order Peter Thiel on wish dot com
Elon Musk has replied to someone who said "Hitler is my fucking idol" more than 80 times
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Ian Miles Cheong, the Malaysian blogger who said “Hitler is my fucking idol”, is apparently confused by the idea of a Hispanic Nazi
All of y’all attacking are bad and wrong. He did a great thing and a hard thing in exposing this individual
Sometimes I’ll say very simple and well documented facts about Tether and then people go “you have to be making that up” and then I have to go “I am not that creative”
Yuga Labs raised $450m from A16Z thanks to the enthusiasm of the fandom they created.
I checked Yuga’s livestream this morning and was the only person there.
One of my favorite things about Twitter is that many of the smartest people are severely underfollowed and thus you can develop relationships with incredibly intelligent people
If I was the worlds largest cryptocurrency exchange, I would just not make my logo a swatiska on Hitler’s birthday
All your boyfriends and girlfriends leave you.
Your business is in tatters.
Your reputation is gone.
You have a few hours before you’re arrested.
Time to play one last game of League and get yelled at by crypto Twitter on spaces
I cannot stop thinking about how stupid and wasteful this is
Rug-pullers beware
Fun fact: anyone rooting for the price of Bitcoin to increase is also rooting for the energy use of Bitcoin to go up
When something like Terra blows up remember the real victims are the venture capitalists, they have no other skills to fall back, investing in unsustainable schemes and dumping them on retail is literally the only thing they know how to do
Tether claims they cannot disclose the name of their Chief Investment Officer
Do not let anyone tell you that this was a black swan event. Those by definition cannot be predicted, many predicted this
Every single day Tether updates their transparency page. Every day assets over liabilities is the same. Magic.
I hope some of you remember who warned you and who lied to you
Replying to
It’s incredible how much of the current right wing culture war strategy comes from GamerGate
Oh no, the jpeg repository is bankrupt
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Oh look FTX hosted all the NFTs minted on their platform using a web2 API and now all those NFTs have broken metadata and the links go to a restructuring website.
Why the fuck is the speaker of the house trading options? twitter.com/unusual_whales
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Waiting for Elon to tweet at me that “this keeps getting weirder”
I love that Elon Musk waived due diligence and is now using something he complained about for years as a pretext to try to get out
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"This chicken was specifically bred and fed to grow unnaturally fast and yet I am confused about why the muscle fibers have this texture"
How’s everyone’s favorite inflation hedge doing this morning?
John J. Ray III, the new FTX CEO, previously served as Enron chairman during their liquidation
Sir, Binance was one of the first investors in Terra and did multiple follow on investments
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Replying to @cz_binance
I don't hold UST, never had. And I don't know it too well. Usually busy with other things, but now dragged into this.
I hate that y’all somehow created a risk for cascading liquidations of JPEG backed loans
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45 of the 272 Bored Apes with BendDAO loans tied to them are now in the platform's “danger zone."
coindesk.com/business/2022/
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Like their bank is run by the guy who made Inspector Gadget
My favorite reaction I’ve gotten to the FTX news: this will set crypto back twenty years
When you definitely know what you’re talking about
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“#Bitcoin is the only monetary asset ever, in the history of life itself.” — Strike CEO 
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Their CEO sold a product that he claimed would turn the nicotine in cigarettes into vitamins
“We didn’t realize Luna could go to zero” is a good way of saying you had no idea what you were investing in and no one should trust you with money again
Holy fucking shit, Riot is fucking stupid on main apparently
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Replying to
They continue: “first we’ll invest in him, so his valuation goes up, then he can borrow against it and invest in us; this is foolproof. We’re all going to be trillionaires”
For Every $1 of Tether There Are $0.03 In Cash
Sometimes you put money into the box, and you wait for other people to put money in, and then you go to remove your money and some of their’s and then you realize the box was clearly labeled incinerator
Joseph Bankman, SBF’s father, apparently knew FTX was insolvent and called people including Scaramucci to warn them about this fact
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The $36,000,000,000 question is how did Alameda get the cash for their tethers, and where did they go?
It is hilarious that Michael Saylor transformed his business intelligence firm into a weird investment vehicle for an asset he does not understand
Conspiracy theories about Tether that turned out to be true:
1. They were unbacked
2. They were doing unsecured lending
3. They were using unlicensed money transmitters for banking
4. Bitfinex would use funds from Tether as needed
5. Bitfinex and Tether had the same owners
This is a thread of threads collecting many of my notes on people and companies related to Bitfinex and Tether
Replying to
“These poor geniuses, trapped in their businesses with no business model, no one willing to give them even several million dollars.”
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Their CFO was a plastic surgeon for like one entire week and then was no longer
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They were co-founded by a Mighty Duck
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There was one analyst in charge of due diligence, but they made him wear a dunce hat while everyone else chanted: “trillionaire savior of humanity”
I call this piece: "The conclusion of every algorithmic stablecoin"
Ford was a Nazi, who like many Nazis in America during this period propagated nonsense about currency to aid and abet fascism.
I would be fucking embarrassed to post this, but hey I’m not a politician trying to appeal to idiots
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I remember when he told people if they bought a $35,000 Model 3 they would make $30,000/year from running it as a robotaxi as soon as 2020 rolled around
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Musk says Tesla is the only company that could sell cars at "basically zero" margin, because "solving autonomy" offers so much future profits.
Every time he repeats this, my skin crawls
The Tether and Bitfinex CEO sold a product he claimed could transform the nicotine in cigarettes into vitamins, allowing you to smoke 300 per day
What a fucking embarrassing thing for to publish.
BitBoy is a paid shill, amplifying his advice and marketing it as 'premium' is just flat out bad
When does this become fraud? It’s been 76 days and no one has gotten even a single penny
Which part of Wisconsin’s rules on partial veto on appropriation bills was violated?
Remember 2016 when every Tesla sold was ready for the imminent release of “Full Self Driving”
All day I've been hearing that Celsius has a $1.19bn dollar hole, and then I pull the numbers and that value is assuming their CEL token is worth 600 MILLION and that their mining assets are worth 720 MILLION
Kinda wild that Alameda had more than $35 billion in actual liquid US currency to give Tether over the last several years
You give 14 years to a network and they still might make your final sign off: “Please stream ‘Let Them Eat Bugs’ on Fox Nation”
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LMAO this is Tucker's last show -- stuffing his face with pizza and saying "we'll be back on Monday"
H/t @tylermonroe7
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“No, I will not discuss my dinner with Epstein and Woody Allen except to say that I think Woody Allen is a great artist” is one hell of a fucking statement
Oh yeah, totally normal entrepreneurial idea, nothing suspicious about that money flow.
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The collapse of Three Arrows Capital, a cryptocurrency hedge fund, devastated the industry and drained the savings of millions of amateur investors. Yet, its founders spent the next year meditating and traveling the world — avoiding serious repercussions. nyti.ms/42xDhyo
Remember when people said none of the FTX execs were going to get arrested or charged and three have been charged and two have already plead in less than two months since the industry broke
This is such a hilarious interaction and none of them know it
A bunch of people who told me I was wrong may owe me an apology very soon
Bunch of Portnoy fans think insulting my forehead is the way to hurt me. Y’all I keep an album on my phone of screenshots of my forehead. It’s the source of my power!
So FTX unredacted institutional creditor list is out, let's see if there's anything wild in it, shall we?
god fucking damn it
Replying to
No one. As for you is Dim a name or just a general descriptor?
Investing in something which was obviously going to falter and then selling that investment to others sounds like a pretty fucking immoral thing
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Replying to @SBF_FTX
8) Luna was a case of mass enthusiasm, excitement, and--frankly--marketing and memes--driving people to believe in something which was going to falter according to publicly available information.
That marketing was probably bad.
But it wasn't the *same* type of bad as Theranos.
Replying to
Yeah but what about in six or sixty more months
Podcasters need to be stopped
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help, i am six (6) hours into Lex's interview with Balaji and Lex is talking about how long form podcasting could have helped the world understand hitler's heart
So Elon is currently the CEO of:
- Tesla
- SpaceX
- Boring
- Neuralink
- Twitter
Am I missing anything or is he really splitting his attention between five companies?
$eos raised ~$4,000,000,000. If they used $1 million every month, then that will last 4,000 months or 333 years.
I cannot wait until the day (and the rest of us) are fully vindicated. Dude has had massive harassment campaigns waged against him all because he accurately pointed out that Tether was issuing without backing and both Bitfinex and Tether were lying
If we knew what backed Tether, then Tether could not continue existing is the official position of Tether
This is a hilarious proposal.
They want to steal money from a whale to liquidate it, because they’re worried if it auto-liquidates it will destroy their entire system.
Censorship resistance!
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SLND1, the first governance proposal for Solend DAO has been proposed. realms.today/dao/7sf3tcWm58
Can someone explain to me how an exchange has liquidity problems? My understanding is that exchanges are meant to match buyers and sellers, and so I am confused how they ever end up not having enough liquidity
When you definitely don’t have extradition on the mind
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Bahrain
is a hidden gem. Super safe, very clean, well developed, good food, superb service, nice people, and crypto friendly!
is a hidden gem. Super safe, very clean, well developed, good food, superb service, nice people, and crypto friendly!I believe most lawyers advise against confessing to journalists over DMs
Replying to
Bitfinex was founded by a vocal Ponzi defender
In 2019 when Elon Musk promised the Robotaxi network would launch in 2020 he provided this slide which he described as a "relatively conservative" projection of what someone would make by adding their Model 3 to the Robotaxi network
Simple proof that Bitcoin does not scale trustlessly to a global size:
1. Using scaling solutions like lightning trustlessly requires regular base layer transactions
2. There’s nowhere near enough space for everyone to do that
Who’s gonna tell Elon that “unhinged leftists” don’t show up to Chappelle shows?
Replying to
Drake Jaded Lyrics Include:
Ayy, told me about all your insecurities, for what?
Dragged me like two hours to your family's house, for what?
Pretty little young thing (young thing)
We coulda waited, I wasn't rushin', differences in ages
You're old enough, but you're still a baby
I love the ‘ngmi’ replies on Twitter.
I own a home, just got married, have a good job in an interesting industry, and every week I get a little bit closer to my lifelong dream of publishing a book.
If that’s not making it then what is?
Elon Musk made extravagant financial promises about robotaxis in 2019.
I simulated how much you would make over two decades if you went into debt to purchase a single robotaxi and reinvested earnings.
You end up with a fleet of 471,000 Teslas and have earned over $18 billion
The people laughing at Tether truthers because Tether has not collapsed have forgotten that we were right that:
- Tether was unbacked
- Bitfinex was insolvent
- Tether was loaning tethers
- They were using an illegitimate payments processor
In the last year Elon Musk has joined the party that tried to overthrow an election, and has sided with Putin on Ukraine, and Xi on Taiwan
Wouldn’t it be hilarious if the exchanges were doing what the largest stablecoin has a documented history of doing and moving in funds just for attestations and then moving them out?
It's hilarious how large scams can get in crypto. Look at the top few coins:
#3 is Tether, execs got target letters from DOJ
#4 is BNB, Binance under investigation
#6 is XRP, currently being sued by SEC
#7 is Doge, a pointless meme coin
#8 is USDC, lied about their backing