December 7, 2023

🥛 A billionaire calls out crypto and Dogecoin turns 10 👀

Today’s edition is brought to you by Dopex – a decentralized options exchange with cheap premiums and capital efficient LP returns.

Try it out while APRs are still in the triple digits!

GM. This is Milk Road, where every crypto update is as electrifying as the opening credits to The Fresh Prince of Bel Air.

Here’s what we got for you today:

  • Dogecoin turned 10 years old! 🎂

  • Use case of the day: Jack Harlow and on-chain tickets 🎟️

  • Jamie Dimon calls out crypto (again) 🗣️

  • How to earn Milk Road merch 👕

  • Michael Jackson’s first-ever studio demo 🤝 the blockchain


First things first

🎵Go go go go go go … go shorty, it’s your birthday. 

We gon’ party like it’s your birthday.

We gon' sip Whole Milk like it's your birthday🎵

What a classic. Anyways… 

10 years ago, two crypto nerds (Billy Markus and Jackson Palmer) had a dream and a meme.

  • The dream: make crypto fun.

  • The meme: this famous “doge” meme of a Shiba Inu.

On December 6th, 2013 they combined the two and launched crypto’s first “memecoin”… Dogecoin.

This is what the first version of it looked like:

Simple interface. Less than 10 buttons. Comic Sans text. Big ass logo, randomly placed… it’s beautiful :’)

Within 2 weeks, Dogecoin’s price was up 300% and had more transactions per day than Bitcoin

Within a month, had 1M+ unique website visitors. And at one point, it had more trading volume than all other cryptocurrencies… combined. 

Fast forward to today, Dogecoin…

  • Has a $13.8B market cap.

  • Is the 9th largest cryptocurrency.

  • Can be used for tipping on social media platforms (i.e Twitch, Reddit), buying tickets (i.e. AMC Theaters, Dallas Mavericks games), and purchasing items at retail stores (i.e. Gamestop, etc.).


The lesson: all you need is a meme and a dream. 


Liquidity is what keeps the world of DeFi running. It allows protocols to function efficiently, and brings providers sweet rewards.

But all liquidity provided is not created equal. And one name is starting to gain some serious traction.

Dopex’s recent launch of The Concentrated Liquidity Automated Market Maker (CLAMM) brings a unique approach to the world of liquidity provision.

Trading venues are not created equal either. Traders are flocking to Dopex to access deep liquidity and some of the cheapest option premiums on the market.

In less than a month since launch they’ve seen:

  • $30M of trading volume

  • $2.5 M in TVL from liquidity providers

  • The top trader made ~$27K in realized profit over the last 3 weeks

  • Cheapest option premiums on BTC/ARB/ETH options

When you add in the ability to exercise your options at any time (American-style), the ability to capitalize on short term opportunities can’t be missed.

Try it out while APRs are still in the triple digits!


Jack Harlow is one of the hottest rappers in the game. 

Milky Fact of the Day: He’s had a #1 Billboard hit, three years in a row. (Drake and Taylor Swift are the only other ones to do that).

Well, turns out that Jack is also a big fan of the blockchain. 

  • Harlow partnered with MITH (a creator platform) and tokenproof (a web3 infrastructure company) to launch on-chain tickets for his mini-tour in Kentucky.

  • Fans scan their tickets via a QR code and, in return, get a “proof of attendance” at the shows they attend.

  • In the future, this can be used for fan interactions and rewards (i.e. merch, collectibles, etc.).

Here’s what it looks like in action…

Btw, this is the ole’ crypto mullet strategy:

  • Normal in the front – interface is something people are used to (i.e. tickets, QR codes, etc.).

  • Funky in the back – put all the complex web3 technical stuff in the back, far away from the user.

Smart. We’ll be keeping a close eye on this to see how well it performs.


Jamie Dimon is… 

  • A billionaire.

  • The CEO of JPMorgan.

  • A (long time) crypto hater. 

He’s what we call, an American Gangster Bankster. 

And Jamie testified at a Senate Banking Committee hearing yesterday to talk about his favorite subject… crypto. 

Here’s what he had to say:

Hmm. Wait a minute…money laundering, drug trafficking, aiding criminals, violating banking regulations…*checks notes*…

These are all things JPMorgan has been accused of doing!

  • Drug trafficking: Back in 2019, a ship owned by JPMorgan was seized after U.S. authorities found ~40,000 pounds of cocaine (worth $1.3B) on it.

  • Violating regulations: JPMorgan was hit with $200M in fines for letting employees use WhatsApp to evade regulators.

  • Fraud: JPMorgan paid a $920M settlement fee in connection with schemes to defraud precious metals and U.S. Treasuries markets.

Since 2000, JPMorgan has paid ~$39.3B in penalties. I repeat, 39 BILLION U.S. DOLLARS.

Talk about the irony. Jamie needs to check himself before he rekts himself.


**OK, I lied. Not totally free.

The twist: instead of paying with money, you “pay” with referrals. 

Since the holidays are coming up, we’re giving a Milk Road discount. Same milky rewards. Fewer referrals needed.

And now introducing… The Milk Road Merch starting line-up.

3 5 referrals get you…

It’s the ultimate badge of honor for all your stuff (watermelon not included).

Good for laptops. Skateboards. Waterbottles. Skin (the kids call it “low-commitment ink”). 

Just slap it on anything and BAM – instant swagger. 

16 20 referrals get you…

It’s not just fabric, it’s a compliment magnet. Step out and watch the heads roll.

32 40 referrals get you…

Mere mortals see a hat. Real ones see a crown. 

And it looks good any way you wear it… flip it, reverse it, T.I. tilt it. Doesn’t matter. 

80 100 referrals get you…

Wrap yourself in our crewneck, and feel the warmth of a thousand blockchains.

It's cozy meets crypto.

P.S. – Looking for tips on how to get the most referrals? We got you covered here!


The Investor’s Podcast Network joins the newsletter biz. Keep up with the three biggest stories in financial markets each day, explained simply by the company who has spent years interviewing investing legends like Ray Dalio, Joel Greenblatt, Howard Marks, and more. Subscribe to We Study Markets.*

Michael Jackson’s first-ever studio demo is being released on the blockchain. The track, titled “Big Boy” will be turned into a “digital vinyl” NFT.

Binance said it will compensate users after the AEUR stablecoin fiasco earlier this week. The stablecoin spiked by 200% within hours, causing AEUR to lose its peg.

Societe Generale is launching a new euro-pegged stablecoin called EURCV. It’s the first time a regulated European bank has launched a stablecoin on a crypto exchange. 

Circle is teaming up with Nubank to broaden access to USDC to its customers. Nubank has 85M users and is one of the largest fintech companies in Brazil. 

Amazon Prime is giving out free card packs for the NFT game “Gods Unchained”. Prime members will be able to claim free in-game content each month, for the next 6 months.

*This is sponsored content






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