• Tokengraph
  • Posts
  • 🍿 Dave Portnoy’s NEW Safemoon LAWSUIT + Ethereum’s premium privacy protocol BANNED from US

🍿 Dave Portnoy’s NEW Safemoon LAWSUIT + Ethereum’s premium privacy protocol BANNED from US

Reading time 4m39s

GM mams and sers 🙋‍♂️

I know how ya’ll feel..

Don’t worry, that ends today!

Today’s Agenda:

  • Dave Portnoy ⚖️

  • Did BTC bottom? 📊

  • Tornado Cash 👮‍♂️

  • Hodlnaut Pause 🛑

  • Lambo NFTs 💨

I’m sure you know who Dave Portnoy of Barstool Sports is.

Despite CZ tweeting out the Tokengraph last week, the guy’s even more famous than we are.

Earlier this year he had some hilarious controversy with Safemoon.

Truly epic stuff.

Here’s the rundown:

1/ he wanted to buy a “shitcoin”2/ he bought $40k in Safemoon3/ he basically forgot about it4/ he checked it months later to find it was down to $4,000

That’s a 10x!

After a bunch of shit talking and a confrontation with a Safemoon representative at a Bitcoin conference, Safemoon went after Dave for misrepresenting the memecoin.

Others accused Dave of taking payments from Safemoon to promote it.

He vehemently denied the claims:

“I never got dick from Safemoon. I never talked to Safemoon, I bought $40k on my own, I picked them on my own, and I lost the money on my own.”

But now he’s being sued (alongside Safemoon) for his alleged role in promoting the token.

A great point that Dave makes is that Safemoon literally sent him formal complaint letters for trashing them, so it’s going to be kind of hard to argue in court that he was paid to promote them.

Not to mention the ridiculous video he dropped explaining why he bought the coin.

In the comical 9 second clip, Dave says about why he made the purchase:

“Why? I don’t know f*cking why - it could be a ponzi scheme. I like the word ‘Moon’ because that’s where I want to go!”

And while we’re on the topic of memecoins, billionaire Mark Cuban says Doge has more utility than Cardano (ADA) because it has more applications.

Shots fired 💥

Safemoon is a memecoin known for having significant growth in the 2021 bull run. Can you guess how much it has lost since the day Dave Portnoy bought it?

Tap your answer below to see if you’re right!

Did crypto find the bottom yet?

This question was recently asked in one of the crypto subreddits.

Correction:

This question was recently asked about 100 thousand trillion times in crypto subreddits.

Crypto Class 2021 still hasn’t learned.

A throughpoint for many of these posts is that they feel as if everything that could go wrong has already happened.

We’re going to disillusion you of that notion, for your own sake.

Here’s a list:

These are ten things that we know could negatively impact the markets today, tomorrow, this week, or in the coming months, not to mention the unknowns we can’t see coming.

So please, stop asking if we found the bottom and just stick to the plan :D

Tornado Cash is a non-custodial privacy solution built on Ethereum.

Some call it a ‘mixer’ or a ‘blender’.

You can send ERC-20 tokens into Tornado Cash and then withdraw them to a new address without having them tracked.

Naturally, some use this for money laundering and other illegal purposes.

I know, I know. Shocker.

But believe it or not, some people also use it for legitimate purposes.

Privacy is a legitimate concern.

The way it’s basically going to work is that anyone who receives tokens that have been through the Tornado blender (this can be seen on the blockchain) will be subject to prosecution in the US and will likely have their accounts frozen.

In fact, Circle (issuer of USDC) have already started to freeze USDC in Tornado-associated accounts, and GitHub has started banning Tornado contributors.

Now look 👀

We’re not in favor of money laundering.

We don’t support thieves and criminals.

But privacy is a human right, and the people who use Tornado Cash to break the law are going to continue breaking the law no matter what the US government sanctions.

Slashing privacy tools is a bad call.

Good people use them too.

I mean, if it’s good enough for Vitalik..

Web3 Pipeline 📢

Hodlnaut pauses withdrawals and swaps - another crypto ‘bank’ bites the dust as Singapore-based Hodlnaut (a combination of ‘hodl’ and ‘astronaut’ - as per their website) informed customers yesterday they would no longer have access to their funds. The company also made its subreddit private and closed down its social media accounts. Some are speculating that they might have been overexposed to UST or LUNA. They really lived up to their name: hodl, NOT!

New Lambo NFTs - with two successful drops under their belt, Automobili Lamborghini is back with another. This time it features a supercar and a virtual experience which they’re calling “an epic road trip through space” which starts at the Moon and travels to various locations on Earth. They’re doing a multi-level mint, dropping 4 new NFTs each month for the rest of the year, and only those who collect one from each edition will get a ‘special NFT’ at the end. Some say it could be a supercar, others say it’s just a cash grab. Time will tell!

Rarible’s New Custom Marketplaces - Rarible is a premium NFT marketplace in their own right, but now they’re launching a product that will allow communities to easily create their own marketplace for their NFTs. For example, say you love CryptoDickbutts and you want to make sure you’re only buying the real thing - you would feel the best buying from their own custom marketplace because the CryptoDickbutt team/DAO will get more of the secondary sales percentage AND you’ll know it’s not a fake (not that this is a major issue with most other marketplaces). It’s also just a very slick marketing asset for an NFT community to own its own marketplace.

Reserve Bank of Australia Explores CBDCs - Central Bank Digital Currencies are a hot topic lately - we’ll do a dedicated letter on them soon. But it’s important to know that the US, Canada, many European countries, and now Australia are all considering them, so they could have a major impact on many of our lives.

NFT drops of the day 👀

🌐 Polarys | 0.18 (ETH)Aug 10 - your ticket to a launchpad and marketplace that provides automated NFT minting to launch fully custom made NFTs without any crypto or coding experience.

🚨 Bandits | 0.05 (ETH)Aug 10 - your ticket to BA (Bandits Alpha), an exclusive Alpha Group allegedly composed of several leading NFT and Crypto research analysts specializing in both technical and fundamental research.

👽 Aliens | FREE (ETH) Aug 10 - you get what you pay for.

🛑 NOTE: drops not promoted/endorsed✅ DYOR and practice safe minting!

That’s all for today, frens!

But remember that the mainstream media and institutions aren’t your friends.

How was today's newsletter? Help us get better:

Thanks for voting! We can only improve with feedback from little geniuses like you.

Today’s Tokengraph is brought to you by FTX

FTX is a US licensed cryptocurrency exchange that welcomes American users. Buy and sell dozens of different tokens. Send and receive USD to your bank account or credit card. Buy goods online or in person using crypto with your FTX Card.

Why wait? Sign up now and get a 5% discount on all trading fees!

DISCLAIMER: This is not financial advice. This newsletter is strictly educational and is not investment advice to buy or sell any assets or to make any financial decisions. Do your own research.