- The Crypto Explorer
- Posts
- Whose side are you on?
GM, this is The Crypto Explorer, the only newsletter with headlines so hot our writer can't stand the heat! 🥵
Here’s what we got for you today:
🗑️ WSB token dumped by an insider!
👩⚖️ US court orders SEC to respond to Coinbase complaint!
🧱 Around The Block: Coinbase share price spikes 7.9%
🗑️ WSB Token Dumped by Insider!
The WallStreetBets (WSB) token, which is linked to the popular WallStreetBets subreddit has dropped 90% in the past 24 hours.
A large portion of the WSB team's supply worth over $635,000 was suddenly dumped into the market.
The moderators involved in the project are fighting it out on Twitter.
WSBMod “doxxed” OPINION_IS_UNPOPULAR and ZJZWSB, and threatens to go to the authorities and file charges against them.
hey @zjzWSB, if you don't get in touch with me within 4 hours I will file a police and FBI report.
you are fully doxxed. I don't understand why you would do this.
if somehow theres an explanation you have to speak up but idk how that's possible
you can still return the money.
— WSBMod (@wsbmod)
2:46 AM • May 4, 2023
According to WSBMod, The treasury is kept in a multisig wallet, so for the transaction to be processed someone else (OPINION_IS_UNPOPULAR in this case) has to approve the transaction.
In response, ZJZWSB said he dumped the tokens because WSBMod was giving himself secret airdrops.
Am seeking return mechanism for eth - threats / dox entirely unnecessary reee
Coin was being constantly, secretly drained by the deployer (wsbmod) w/ "accidentally" huge (~$25k) airdrops he claimed/sold many of. Hence his 0% allocation, willingness to set up pool for "free", etc.— zjz.eth (@zjzWSB)
11:43 AM • May 4, 2023
So, whose side are you on? 🤷♂️
…oh, did I mention this token launched just 3days ago? 😀
Strange right?
We're keeping an eye on this story, we will keep you updated on the matter.
👩⚖️US Court Orders SEC Response!
Oh boy, it looks like Coinbase has got the SEC in a bit of a bind!
A US Court has ordered the SEC to respond to Coinbase's complaint regarding how it applies securities laws to digital assets.
…and they're on a deadline.
The SEC has 10 days to file its response.
Recently, Coinbase argued that the SEC has been providing insufficient regulatory guidance for US companies operating in the crypto sector.
They even referred to a 2022 petition calling for formal rulemaking within the digital assets sector, which the SEC hasn’t responded to.
Well, now they have to respond within 10 days. 😄
So, let's sit back, grab some popcorn, and watch the SEC scramble to meet their deadline.
🧱 Around The Block: Coinbase share price spikes 7.9%
🤑 Coinbase Q1 Results: Coinbase share price spikes 7.9% as Q1 results beat expectations.
📑 Internal Audit: Institute of internal auditors wants mandatory internal audits for US crypto exchanges.
💲Cash App Revenue: Cash app Bitcoin revenue tops $2 billion in the first quarter.
🤩 Fund: Voyager creditors could start seeing funds in the next few weeks.
That's all we have for today.
Please don't forget to rate today's email and let us know what you like about it.
In any case, see you tomorrow, or on Twitter, if you're there: @danielakpobare
DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell assets or make financial decisions. Please be careful and do your own research.
Reply