We've spent years hearing about how crypto is going to replace traditional money. Now you can walk into a store, pay with stablecoins and the merchant receives regular fiat. The customer uses crypto. The merchant gets dollars. Visa processes the payment. So we've basically reinvented the debit card, just with a blockchain somewhere in the middle. And somehow this is being celebrated as mass adoption.

If merchants never touch crypto, is this really adoption or just another way to convert crypto into regular money?

So Hearth was arrested. He is a big fan of hats, what is interesting many crypto OGs from 2010s wear it at the conferences. Brock Pierce and many crypto market makers.

Who is next?

...but it's pretty clear that they aren't.

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It is time for - I told you so. :D

Hilarity continues. How are these guys still in business? Their Twitter gets hacked and the hacker posts a phishing security update post. Clown show.

How about not having any buttcoin?

https://www.ft.com/content/c84a0307-714c-4279-9073-caad985cce63

CHAD is a perpetual preferred stock not dissimilar to the death-spiral unconvertibles issued by Strategy, Michael Saylor’s bitcoin speculation vehicle. CHAD’s issuer is DeFi Development Corp of Nevada, a publicly listed digital asset treasury company whose pitch is that it’s like Strategy but for the Solana blockchain. Solana is an Ethereum alternative that facilitates DeFi projects, the highest-profile of which is Donald Trump’s memecoin. Its native token, SOL, had a 96 per cent drawdown in 2022 and is currently 60 per cent off its all-time high.

…

On the offer closing, CHAD’s keepers pledged to set up a dividend reserve to cover 12 months of monthly payments using “existing cash and cash equivalents, financial instruments and/or digital assets”. Once this reserve pool is dry, it says, CHAD dividends would be funded “primarily through additional capital-raising activities, including, but not limited to, [equity line of credit] agreements and at-the-market offerings of our common stock and the CHAD Stock”.

…

The only reason we’re choosing to draw attention to CHAD is because, to reiterate, it trades on Nasdaq’s Capital Market. This is the exchange’s entry-level tier for small and young companies, but it applies the same baseline governance standards as Nasdaq’s upper-tier Global markets. There’s no small-company waiver either on Nasdaq’s statutory duty to vet prospective listings and maintain market integrity.

On my way to the store to go long on popcorn (which I will not HODL lol)