BIT of a Mess
Market Meditations | November 9, 2022
Ok, we need an adult in the room. Everybody stop, calm down and breathe. Bybit, you go first:
- Bybit: “Alameda promised they wouldn’t sell our 100 million tokens but I think he just dumped on us! We dropped 20%!”
- Alameda: “That wasn’t us dude. Bit busy fighting CZ, I’ll get back to you”.
- Bybit: “Prove it! Otherwise our community is gonna, is gonna….we’re gonna vote!”.
- Binance: “Yeah Alameda, they’re gonna vote. I’d just sell all the FTT tokens if I had any”.
- Adult: “That’s enough CZ. And wipe that smile off your face. You’re not innocent in all this”.
- FTX: “Fake news man. Binance is just trying to go after us. We’re totally fine”.
- Nansen: “If I may interject fellow crypto degens. Using our fancy software, which is available to all good ladies and gents of the cryptosphere, priced very reasonably if I may say so at this link, we can tell you which transaction took them below 100 million $BIT. Let me see…it was ‘Mirana Ventures’.”
- Bybit: “Ah. That appears to be our own VC arm. Erm…one moment please.”
- Retail: “The billionaires with abbreviations for names are fighting and as a result we are losing money👍. Why in crypto is it always the stupidest thing possible that happens?”
*In case it wasn’t clear, this conversation never happened. But the links did!