Well, That Was a Hell of a Week

Happy Friday, Blockfolians

The Lede

Let’s just recap everything that happened this week, shall we?

  • A key oil pipeline was shut down because of cyberattackers demanding crypto ransom

  • Multiple major hedge funds reportedly spinning up DeFi funds

  • Vitalik Buterin sells and sends memecoins to charity

  • Elon and Tesla u-turn on Bitcoin payments

  • IRS, DOJ investigating Binance

And probably about a million other things as well.

Truly, this is one of those weeks that you only get in this industry. Still, crypto being crypto, most people are already on to the next thing.

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Highly Relevant Reading

  • Delphi Digital just launched an on-chain NFT fund

  • Check out FTX’s newest hire - ex Citadel Securities!

  • Are NFTs unregistered securities? A new lawsuit against Dapper Labs claims so

  • The working group trying to lower mining emissions


Community Commentary

Another excellent essay from Arthur Hayes
Thoughts on the state of the cycle from Raoul

A Really Big Number We Should Be Paying Attention To

$5m

That’s the amount of ransom supposedly paid by Colonial Pipeline to hackers who shut down a major source of East Coast oil


Final Thought

Oh my