🐸 BAOS, SBF WAS ARRESTED

GM Baos,

SBF was arrested!!! Justice is being served — hopefully in few months he’ll be behind bars. 💖 Wagmi

We cover:

• The SBF arrest

• Binance FUD

• Discord 🤝 Solana

SBF arrested in the Bahamas 🚓🌴

Can you believe it's only been one month since FTX's insolvency was revealed? Everything moves so fast in crypto, it feels like more time went by. SBF being arrested within a month is extremely quick considering Do Kwon, Su Zhu and Kyle Davies are roaming free. I would imagine they're sweating right now.

According to the NY Times, Sam Bankman-Fried (SBF) has been charged with Wire Fraud, Wire Fraud Conspiracy, Securities Fraud, Securities Fraud Conspiracy, and Money laundering.

On Tuesday SBF showed up in court and was denied the $250k bail his lawyers tried to get. Also an extradition hearing was set for February 8th 2023. So all we do is wait til next year 🫣🍿

Is Binance insolvent or is this coordinated FUD?

WE ARE ALL ON THE SAME SIDE.

Bernie had just wrote on Crypto.com FUD in Monday's newsletter. Now it's Binance who has rumors going around... which exchange is next? 🥴

If Binance were insolvent, the entire industry would be set back years. At that point we could pack it up and go home. Actually, let’s not think about what would happen if Binance went under.

TLDR of the Binance FUD

• CT account @coinmamba tweeted CZ closed his account over tweets about Binance. Then it went around Twitter that Binance/CZ is trying to remove people critical of the platform, which suggests Binance is hiding something

• The Binance "audit" isn't a real audit. Kraken's Founder and CEO Jesse Powell said the Mazars report wasn't a traditional Proof of Reserves. And brought to light to a few red flags he saw in the audit

• Screenshots of Wintermute and Jump withdrawing large amounts from Binance didn't help the situation

• A majority of the FUD was centered around a Reuters article saying the U.S. DOJ is contemplating to file charges against Binance for money laundering

Discord’s big announcement

This is big news for all of us degens who basically live on Discord 🫡

Discord just announced a new feature called “Linked Roles” — and guess which blockchain is supported? SOLANA.

Linked Roles are a new type of role that’s created by authenticating your profile with an account outside of Discord. Over 20 connections are rolling out in the next few weeks ranging from categories like gaming, fitness, art and finance.

Adding connections to your profile help create trust between you and those who you interact with on Discord. The chances of being catfished decrease significantly 🙃

Besides being the first and only web3 integration on Discord. How does Solana fit into the picture? Linking your SOL wallet gives you access to roles based on wallet metadata. Server admins can opt to create roles and gated channels based on holdings, number of transactions, and age of wallet.

This is only the beginning for web3 integrations on Discord . ✨ Would you connect your SOL wallet to gain these special roles?

Bao-Sized News

• SBF's inner circle reportedly had a group chat named "Wirefraud" 

• Do Kwon is in Serbia? 🇷🇸

• The Block was secretly funded by Alameda Research...

• Canada bans leveraged crypto trading 🍁

Made us Kek

Just waiting on the SG Baos 🫡

💗

–Cassidy