This week on Crypto Twitter: Michael Saylor Goads Elon Musk for Tesla’s Bitcoin Dump

Latest / July 24, 2022 / DRPhillF / 0

Illustration by Mitchell Brewer to decode

Prices may be in green Throughout the week, however, Crypto Twitter remained focused on the ongoing liquidity crunch in the sector.

This week, the Singapore Zipmex Stock Exchange Freeze withdrawals, and Legion Strategies, a hedge fund of Anthony Scaramucci’s Skybridge Capital, halted redemptions. Meanwhile, Blockchain.com has joined the ranks of Gemini, Coinbase and OpenSea with an announcement Mass layoffsElectric car maker Tesla, Inc Spend 75% of her Bitcoin for $936 million.

Michael Saylor, CEO of MicroStrategy and a Bitcoin billionaire, pointed out the hard facts of selling Tesla.

If you sell 75% of your bitcoin, you will only have 25% of your bitcoin # bitcoin the left.

– Michael Saylor 20 July 2022

In the midst of bankruptcies, one firm is amassing that money: US law firm Kirkland & Ellis, which was previously hired by crypto lenders Voyager and Celsius to help them restructure, was hired this week by Babel Finance. Last Sunday, Babel paused withdrawals, noting “liquidity pressures. “

An affidavit from Kyle Davies, co-founder of newly bankrupt Three Arrows Capital, alleging that a former crypto hedge fund $65 million for his wife and $5 million for co-founder Su Zhu. He tells Davis and Cho, they’ve been on the radio for five weeks Bloomberg what they were Dealing with investors’ money before everything collapses.

Zhu Su seeks $5 million from 3AC’s bankruptcy, and 3AC founder’s wife Kyle Davis is seeking $65 million.

very funny

– Frank Chaparro (@fintechfrank) July 18 2022

DeFi news outlet The Defiant has compiled some of the most influential letters it has written to the judge affected by Celsius’ bankruptcy. They are already subtracting the human cost of the liquidity crunch.

Many affected by Celsius’ bankruptcy wrote letters to the judge…

Some of them are very heartbreaking

– The Defiant (@DefiantNews) 23 July 2022

On a more optimistic note, the blockchain-based file-sharing network LBRY beat the US Securities and Exchange Commission in court. Don’t guess that every non-Bitcoin token on the blockchain is considered security after all, huh Gary Gensler?

They were free!

The judge was skeptical of many of the SEC’s claims.

The Saudi Electricity Company was forced to admit that the material use of LBRY was non-speculative.

Judgment in 4-8 weeks of summary judgment, trial seems unlikely

More later and live on Tweet embed at 7

Thanks to all who came, not much was filmed pic.twitter.com/HjA2yx1eqc

– Jeremy Kauffman 🦔 (@jeremykauffman) 20 July 2022

Maine Craft

On Wednesday, the successful Minecraft sandbox game published by Microsoft announced that it will do just that Prevent the use of NFTs and blockchain technology on its servers and prohibits the creation of NFTs based on their assets. Axie Infinity co-founder Jiho was optimistic about the news.

Minecraft has banned NFTs.

This is a great sign of adoption. Just as banning books is making them more popular, so is Web2’s backlash against NFTs paving the way for viral growth. https://t.co/2bkb7PznOF

– Jiho.eth 🦇🔊 (Jihoz_Axie) 20 July 2022

The Minecraft-based NFT Worlds project has tweeted a lengthy protest.

Innovation, player experience and creators. We believe that an open, free and advanced version of what Minecraft has brought to the world will be a better future for creators, developers and ultimately gamers.

– NFT Worlds (nftworldsNFT) July 22 2022

Others saw it coming a long time ago, including Decrypt She owns Kate Irwin, whom she shot five months ago.

I contacted him back in February that there was a very good chance Minecraft would shut them down, and that their fan army was very angry 😂 https://t.co/VngEFTXEE8

– Kate Irwin (@pixiekate13) 23 July 2022

in another place

On Monday, there was some speculation about who owns a wallet that purchased a particular domain on the Ethereum name service.

Showing $1,000,000 on amazon.eth now from a new wallet

– Daniel got hits | 260.eth (@danielgothits) July 18 2022

Popular NFT market OpenSea has entered into a fierce war of words with a Solana-based competitor.

Twitter user @8892OS, who claims to be a “fine art dealer” and provider of “emergency liquidity assistance,” allegedly stole someone for a lot of Ethereum, and that person… sent more?

Vitalik Buterin, the creator of Russian-born Ethereum, has been thanked for his humanitarian efforts to help Ukraine fend off Vladimir Putin’s ongoing invasion.

Finally, GameStop’s new NFT platform drew criticism for its inclusion in the NFT list clearly inspired by the world-famous image of Associated Press photographer Richard Drew of the 9/11 victim, known as “The Falling Man.”

It appears that NFT has since been written off.