molly.wiki
independent writer of citationneeded.news and @web3isgoinggreat.com • tech researcher and cryptocurrency industry critic • software engineer • wikipedian
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at this rate all the talk of Canada becoming the 51st state is going to end in the USA becoming the 11th province
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Yeah, they use tumblers, chain swaps, etc to launder money and then cash out at exchanges or via OTC brokers (eg x.com/zachxbt/stat...). Not sure I've seen anything super recent wrt how much they've cashed out vs kept in crypto
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imposter
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I don't believe so, no
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It is evidently a phishing technique in which attackers are able to somehow replicate the UI that Bybit was using, showing false information that does not reflect the underlying transaction. I'd never heard the term before today.
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This is crypto. It's almost always NK.
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The chances that North Korea is now sitting on $1.4 billion (notional) in ETH are... high, I think
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One of the many library lending providers out there (think Libby, OverDrive, etc)
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Well, I didn’t even mention the more direct cash-out. www.citationneeded.news/issue-73/
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(Don’t forget that $50 million of those contributions appeared to be blatantly illegal, although Trump is already hard at work making the Federal Elections Commission even less effective than it previously was.)
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just to add a little more detail — I use Spreaker to do the distribution end of things. It handles the RSS and gets it on the major podcast apps, and it's free
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I have never heard Ken say specifically that those accused of crimes shouldn't give lengthy recorded interviews to Coffeezilla
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Close timing, but this contains further allegations about coordinated insider trading throughout major Solana defi platforms (in addition to the allegations about Hayden’s culpability)
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“This is like high-level stuff. This isn't $10 or $100. This is in the multi-millions with a president, two presidents, one with his wife and the other is a president. Like, this is... I don't know anyone higher.”
“I'm really fucking scared, man.”
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“Hayden said, ‘if Ben ever turns against us, we have enough to pin on him’.”
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At this point Ben begins to freak out a little bit.
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“I gave him $MELANIA. I didn't know he was a rugger. I feel so sick. I feel like I'm super exposed, too.”
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“If there's a rug, this was a rug, like, 101. ... This is FTX type of shit. This is like Do Kwon type of money.”
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“I believe Ben, you knew this, because you actually gave a lot of the instructions.”
Ben: [word salad]
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“The wallets that sniped $MELANIA also sniped all the other consecutive launches. And I'm starting to think that there's a very big insider trading going on.”
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Peter Thiel had already taken all the LOTR names
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it does not
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That and more in today’s issue of Citation Needed. Please consider signing up for a free or pay-what-you-want subscription to support my work, which is completely independent and entirely possible thanks to readers like you.
www.citationneeded.news/signup/
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Finally, a fourth Andreessen Horowitz employee will be taking a key role under Trump, with cryptocurrency policy lead Brian Quintenz up for nomination as CFTC Chair. He will help install the friendly regulatory policy a16z has spent $75M+ to essentially write themselves.
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However, Coinbase is likely to benefit from such an argument, as the SEC has requested a delay in the case against the exchange, anticipating that Trump’s crypto task force “could facilitate the potential resolution” of the case.
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One of the accused perpetrators of the SafeMoon fraud has tried to delay his trial by arguing that his crypto crimes might soon be legal. Prosecutors pointed out that there are (as yet) no plans to legalize wire fraud, and the trial will continue as scheduled.
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Back in the US, where a president attempting to use state legal resources on his personal defense probably wouldn’t hit the top ten list of presidential misconduct this week, the US government has released the imprisoned Russian BTC-e co-founder Alexander Vinnik.
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Meanwhile, Argentine politicians are calling for Milei’s impeachment, and more than 100 lawsuits have been filed against him. His attempt to do a damage control interview backfired, exposing his intent to use state legal resources to defend himself.
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The whole call, between crypto founder Moty Povolotski confronting Meteora co-founder Ben Chow after witnessing the insider trading in person, is so bonkers that I just transcribed the whole thing for you.
www.citationneeded.news/meteora-ben-...
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A crypto founder confronted Meteora’s Ben Chow on a call that later leaked, stating “whenever presidents get involved, and if they become angry, you know, you don't want to be there”.
“This isn't $20. This is not $100 million. This is like 200 to— this is FTX type of shit.”
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The rot exposed here seems to go far deeper than a random blockchain VC firm. Those behind massive Solana projects including Meteora and Jupiter have been accused of involvement in a massive insider trading scheme. Meteora’s cofounder has already resigned.
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Davis outright admitted that he and the LIBRA team had “sniped” their own token — a type of insider trading involving buying up huge quantities of LIBRA immediately upon launch, which left them with tokens notionally worth around $100 million.
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Hayden Davis, the man who helped launch the Milei-promoted LIBRA token, also helped to launch the MELANIA memecoin by the now First Lady. Davis claimed in text messages to “control” Milei, writing “I send $$ to his sister and he signs whatever I say and does what I want”.
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But it’s gone the worst, by far, for Argentina’s President Javier Milei, whose promotion of a crypto memecoin that later rugpulled has resulted in calls for his impeachment and criminal charges. And the fiasco has exposed what appears to be a huge memecoin insider trading ring.
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After Trump’s memecoin launch, several countries and politicians have launched or promoted cryptocurrency tokens (or appeared to). It’s not gone well.