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Crypto Twitter This Week: Michael Saylor Incites Elon Musk to Tesla Bitcoin Dump

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Illustration by Mitchell Preffer for Decrypt

Prices may be in the green for the week, but Crypto Twitter remains focused on the ongoing liquidity crunch in the sector.

Singapore exchange Zipmex this week froze withdrawalsand Legion Strategies, the hedge fund associated with Anthony Scaramucci’s Skybridge Capital, have suspended buyouts. Meanwhile, Blockchain.com joined Gemini, Coinbase and OpenSea by announcing mass layoffsand electric vehicle manufacturer Tesla. cashed out 75% of my bitcoin for $936 million.

MicroStrategy CEO and Bitcoin billionaire Michael Saylor was quick to point out the bitter truth about the Tesla sale.

In the midst of bankruptcies, one firm is hoarding that money: U.S. law firm Kirkland & Ellis, previously hired by bankrupt crypto lenders Voyager and Celsius to help restructure, was hired this week by Babel Finance. Last Sunday, Babel put the withdrawal on hold, citing “liquidity pressure“.

A sworn affidavit from Kyle Davis, co-founder of the recently bankrupt Three Arrows Capital, alleges that the former cryptocurrency hedge fund owes $65 million to his wife and $5 million to co-founder Su Zhu. Davis and Zhu, who were virtually silent for five weeks, recounted bloomberg what they were work with investors’ funds before everything collapsed.

DeFi news outlet The Defiant has compiled some of the most touching letters written to the judge by those affected by the Celsius bankruptcy. They really drive the human cost of a liquidity crisis into their heads.

From a more optimistic perspective, the LBRY blockchain-based file-sharing network has defeated the US Securities and Exchange Commission in court. I think not every non-bitcoin token on the blockchain is a security after all. and Gary Gensler?

mine craft

On Wednesday, the popular sandbox game Minecraft published by Microsoft announced that block NFT usage and blockchain technology on their servers and prohibit the creation of NFTs based on their assets. Axie Infinity co-founder Jiho took the news upbeat.

The NFT Worlds project, which is based on Minecraft, posted a lengthy protest on Twitter.

Others saw it a long time ago, including decipher his own Kate Irwin, who called him five months ago.

In the other place

On Monday, speculation surfaced as to who owned the wallet that purchased a particular domain on the Ethereum name service.

Popular NFT marketplace OpenSea has engaged in a sassy verbal skirmish with competitor from Solana.

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

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

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

It appears that the NFT has since been delisted.

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