This Week on Crypto Twitter: Bitcoin Whales Buy the Dip, Nic Carter Defends an Investment, SBF Memed as Atlas

Bitcoin has struggled for three weeks to stay above $ 20,000, and this week was no exception– the world’s favorite cryptocurrency, at the time of writing, hovered just over $ 19,000. Many Bitcoin maximalists did not seem so worried. And others have bought the dip.

Microstrategy CEO and Bitcoin HODLs the size of whales Michael Saylor announced another big BTC purchase, although it did not seem to impress pro-gold economist Peter Schiff.

El Salvador’s authoritarian president, Nayib Bukele, also bought more BTC, which should have been no surprise for regular column readers.

But Saylor and Bukele, in a bit of a twist, were not the center of attention during the week. Venture capitalist Nic Carter, himself a Bitcoin fan, angered the laser-eyed masses with a simple tweet on Tuesday, announcing his decision to invest in an Ethereum- and Solana-friendly wallet-based authentication tool called Dynamic.

The pain that Puritan bitcoiners suffered when they learned that Carter also invests in other things was perhaps best exemplified by a tweet from Mission Bitcoin.

Carter responded by frying the roasts.

He added: “I could not care less about the laser eye team.”

Dan Held, director of growth marketing at Kraken, was among Carter’s defenders.

$ 47 million

Crypt exchange CoinFLEX announced last month that it had frozen withdrawals due to “continued uncertainty related to a counterparty“This week, CEO Mark Lamb has left that counterparty as a Roger Ver, also known as”Bitcoin Jesus“, a former Bitcoin evangelist who now shills Bitcoin Cash.

Just before Lamb’s tweet, Ver dismissed the idea as “some rumors”, while also claiming that CoinFLEX was actually in debt … to him!

Lamb called Vers’ denial “tactics” and reaffirmed that, yes, Ver definitely owes CoinFLEX, not the other way around.

BlockFinalized

FTX CEO Sam Bankman-Fried announced in June that he was giving one $ 250 million credit injection to cryptocurrency lender BlockFi after the company announced that they were cutting the workforce by “about 20%“, referring to a” dramatic shift in macroeconomic conditions. “

In an interview with NPR last month, Bankman-Fried said his exchange has one responsibility to rescue ailing crypto companies in times of crisis. True to his word, the BlockFi agreement had just been terminated.

Financial and investment news account @Stocktwits memed SBF as Atlas.

Axio’s business editor Dan Primack did not love the deal.

Elsewhere

New reports revealed that some hedge funds allegedly borrowed “hundreds of millions”To shorten Tether after the collapse of Terra. Leon Marshall, head of institutional sales at Genesis Global Trading, confirmed to a UK financial website that his hedge fund had made short sales worthwhile “hundreds of millions of dollars.”

Tether chief Paulo Ardoino responded to the reports in a long thread, writing that shorts sales were only one dimension in a multi-stranded attack on Tether’s credibility, which also depends on “RD & D” and “troll armies”.

Ardoino also said that Tether has endured many accusations that the USDT stack coin is not supported 1: 1 by cash reserves. He stressed that Tether is fully supported by certified reserves and plays ball with regulators, and shares some impressive statistics on the number of redemptions Tether has handled.

On Wednesday, the United States Securities and Exchange Commission rejected Digital Asset Manager Grayscale’s application for a Bitcoin spot ETF, saying the firm had not done enough to protect investors from “fraud and manipulative actions and practices.” The next day, Grayscale CEO Michael Sonnenshein tweeted that his company is sue The agency.

Finally, the blockchain game Axie Infinity is no longer a profitable company, according to a chart shared by Ryan Selkis, who founded the crypto market information provider Messari.

Players have abandoned the game-to-earn title galore.

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