Daily Crypto NewsEDITION #564, 09 August 2022

Memecoins and Punishment (Dave, are you okay?)

Hey Moni Maker 🔐

Today, in 1173, the construction of the Tower of Pisa began. We wonder how cool it is to have your hand on something great? A great object people will make pics with, make articles about or mention in Digest? But wait...we know that. Every day we invest in cryptocurrencies: money, time, and our lives. And maybe our descendants will thank us a lot for the money that brings freedom.

Let’s go!

Not a day without litigation. Yesterday we watched the...hm... "sanctioning" of Tornado Cash, and today we'll talk about Dave Portnoy. But first, a little theory: 

- Portnoy is a meme. He's the founder of Barstool Sports and an epatage trader. He was mentioned in our article about meme-coins - then Portnoy looked at the crypto-market and decided to buy Safemoon. And he did it without any shill, saying, "I don't know what this is and how it works, but I bought it".

- Another fact about Portnoy: he talked to the Winklevoss brothers, you know, the Gemini ones. They explained to him what Bitcoin is. Ofc, he bought bitcoins and then sold them right before a bull run, lol. 

- Back to the Safemoon case. A man came to Mr Portnoy's house today and started banging on the door, saying, "Open up; the court's here". The dude was accused of investors' losses. Yes, some guys bought Safemoon, and then it dumped 88,5%.   

We agreed that we would post news in #GemNews at the end of the day. But we'll post the hottest stuff right now. So. Tornado Cash is under U.S. sanctions. For what? 

- Allegedly laundered $7 yards from 2019 

- Allegedly laundering crypto stolen by cybercrime groups from North Korea ala APT38 or Lazarus Group

The official press release is lying here. That is, now, U.S. citizens will not be able to use the mixer. 

On the one hand, "allegedly" doesn't fit here - there are already official statements. And on the other hand... well, you know what we mean. 

REKT. It means you're screwed. Refers to those who have suffered severe financial losses due to improper trading or investment. It can also refer to the asset itself, which is rapidly losing value.

And more you can find in our Glossary!

– Vinnik, suspected of stealing $9 billion from cryptocurrency accounts, taken to the US

– Swiss watchmaker Franck Muller is accepting payments in BNB

– $2.7 billion was spent on NFT mints in the first six months of 2022

– Crypto exchange WazirX is suspected of laundering $350 million

– Neobank Revolut increases its cryptocurrency division by 20%

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