FTX Carnage and Sam Bankman-Fraud
98 π FTX Catastrophe, SBF Fraud, HoneyBricks Tokenized Real Estate, Web3 Audio (Lucky Ducky Tales)
Welcome to volume 98 of the weekly newsletter showcasing web3 while bridging the gap with web2. Each Monday we send you exclusive, information-packed content covering a wide range of valuable web3 topics, from blockchain technology trends to pertinent investment information. Sign up today and become a powerful part of the investrly community.
Another short and valuable read this week as I celebrate my honeymoon in web2! Why does this matter? It doesn't but it does and hereβs why.
For the past year, the cryptocurrency industry has seen far too many anonymous accounts and malicious actors create fake projects, steal money, and thrive by being bad actors. I'll continue to show up and show case the good in this space and keep it real to combat all the fake.
Thank you for joining us as we continue our web3 journey.
π FTX Failure and SBFraud
A disastrous year for the cryptocurrency industry continues with FTX failing due to 30 year old Sam Bankman-Fried (SBF) being exposed as a fraud and not the βeffective altruistβ he pretended to be. Unfortunately for an industry teetering on the edge, this failure was sudden, shocking, and may go down as the biggest fraud in history. A few tweets to describe where we are at.
Thoughts around the failure from the internet.
While Binance Chief CZ suggesting this may be the start of industry wide failures and troubles.
How bad can it get.
Over the past 18 months, the once promising technology (blockchain) and industry (cryptocurrency) has been completely usurped by malicious actors and fraudsters. They have co-opted a once massively bright and potentially exciting future to better themselves in the present at the expense of so many.
Unironically, theyβve all failed spectacularly and are either on the run, in hiding, behind bars, and/or will be soon.
TLDR: Blockchain technology has been usurped by bad actors.
π― HoneyBricks Tokenized Real Estate
We are excited to announce The Spiderβs Catch, our new special feature series detailing the cutting edge of investing! Each edition is its own deep dive into one of the most interesting (and potentially profitable) facets of investing that we think you need to know about. The series is written by Henry Stater, a web3 and investing expert, and founding partner at Spiderw3b. He is an experienced investor, writer, and manager who oversees all evergreen crypto content for Benzinga (where he also writes 2 popular NFT investing newsletters).
For the first edition, we were able to partner with HoneyBricks, our favorite tokenized real estate platform, to bring you even more value than just the deep dive. When you sign up and verify with HoneyBricks using our link you will get a chance to win a large (19.5oz) jar of one of our 2 favorite exotic rare honeys: Yuzu Honey or Moon Harvest Saffron Honey! Both are perfect for taking your breakfast or better yet, your mixed drinks, to a new level. Enjoy the first edition of The Spiderβs Catch on tokenized real estate!
TLDR: This is a portion of the full Spiderβs Catch article which ran last week.
π¦ Web3 Audio: Lucky Ducky Tales
TLDR: Lucky Ducky Tales is a live audio show highlighting the web3 clay mation project weekly.
This newsletter was written byΒ Michael Rippe and is part of the Spiderw3b Consulting Group: Creating solutions that stick.