GM. This is the Milk Road, the crypto newsletter that gives you the latest news, interesting stories, and memes - all in a small, bite-sized email.
We're the Dunkin' Munchkins of Crypto.
Here's what we got for ya today:
- Are FTX users getting doxxed?
- LaLiga is using the blockchain to track balls
- Middle schoolers learn Bitcoin
- Milky Memes
ARE FTX USERS GETTING DOXXED?
Another day. Another chapter in the FTX Saga.
FTX is looking like the Tootsie Pop of Crypto. And we're all wondering one thing...
How many licks will it take to get to the center of the FTX Pop?
And if it’s anything like the real Tootsie Pop (~850 licks) then we’re screwed🤬. And yes, we made the Milk Man confirm that number.
Anyways, back to the latest news around FTX & Alameda:
1/ FTX users might get doxxed
Media powerhouses - NY Times, Financial Times, Bloomberg, Dow Jones & Company - have filed a motion asking courts to disclose all FTX creditors.
Why? They claim the public deserves to know creditors’ info, since it's material that historically isn’t redacted, and that releasing it wouldn’t lead to identity theft.
The problem is that people are maaaaaaad... there's already a precedent for users' info getting leaked in bankruptcy filings.
It happened with Celsius users a few months ago. Over 14,000 pages of user info & transaction history were made public because of how the centralized company was structured.
Names, wallet balances, and all transactions since the Land Before Time - everything.
So it could very well happen again with FTX users.
Well, looks like the Milk Man is getting doxxed.
2/ FTX's "rescue package" was mainly in FTT tokens
Remember FTT? That made-up internet money FTX printed out of thin air?
Well, according to FTX's bankruptcy filing, most of the $400m "rescue package" it gave to BlockFi to avoid bankruptcy was given in FTT tokens (aka made-up internet money.)
But to make things worse... when BlockFi tried covering their credit line, instead of sending back made-up internet tokens, they reportedly sent back client deposits.
The plot thickens.
3/ Samuel hopes to start a new business to raise funds to pay FTX customers back
In a recent interview with BBC, Samuel denies he committed any fraud and wants another chance at paying customers back.
By starting a brand new business.
Just don't let Kevin O'Leary see it...
***"ON YOUR NEXT EPISODE OF SHARK TANK..... FTX 2.0."***
4/ FTX Japan has until March 2023 to cease operations
R.I.P. FTX Japan. June 2022 - March 2023
FTX Japan lived the life of a housefly - short & brutal.
TODAY'S EDITION IS BROUGHT TO YOU BY ROOFSTOCK
Most people buy crypto to invest. They want to see their money go from $1,000 to $5,000.
They want to go from crashing at their parent’s place to buying the house at the end of the cul-de-sac.
The truth is crypto wasn’t made to get people rich. Crypto was made as an alternative to our current financial system. However, it still hasn’t touched one of the largest parts of the financial system… real estate.
Right now buying a home has more hoops to jump through than the Westminster Dog Show.
But a company that has done $5b in transactions since 2015 is changing how we buy homes.
Roofstock says on-chain real estate makes sense if you:
- Have money in crypto and are looking for a safe place to invest it
- Want to get an on-chain mortgage using your tokenized home as collateral
- Want everything in one central place without 100 message-long email chains of documents
Learn how you can buy or sell your next home on the blockchain with Roofstock.
SAY HELLO TO THE NEW BLOCKCHAIN SOCCER BALLS
It’s still World Cup season, and you know what that means… another story about
A company called Gol-Ball (original) is using blockchain tech to track the balls that players use to score in Spain’s LaLiga league, which will sell them as collectibles to fans.
So you can display one in your home if you want, right next to your 8th grade soccer trophies.
Lil refresher on the game’s operations: pro leagues use between 10-20 balls during a match to speed it up (~120 yards is not a small field.) If one exits the pitch, a new one is thrown right in to get things moving along.
Which is good news for whoever wants one, you have more options.
Gol-Ball’s CEO also suggested that the owners will have digital ownership of the balls they buy. Cough NFTs cough.
LaLiga said fans can buy them starting on Jan. 8 via “fan engaging mechanisms,” so we’ll see what that looks like.
Why does it matter? This is the first group to track the balls that are used to score each time in a pro game AND it’s the first time fans will be able to get their hands on them.
Plus, it’s a little extra cash for the league. So everybody wins.
MIDDLE SCHOOLERS LEARN BITCOIN
This weekend I took a trip down Memory Lane.
I was talking with my nephew about...Science Fairs. Remember those?
Every kid would pick a science-y experiment. Do the experiment.
Then have to go buy this big ass piece of cardboard. Fold it into 3 parts so it balances perfectly on a table. And explain your project by purpose, procedure, results, etc.
Btw, here's what the Milk Man did his project on.
Well, after a 30-minute convo with my nephew I can tell you: times are different.
Instead of sticking Mentos in Coke bottles to measure how far it explodes, kids are actually building businesses & pitching it in "pop-up shops".
And last month, 85 middle schoolers in Colorado ran pop-up shops selling products/services at an Entrepreneurship Fair.
The best part? It was all powered by the Bitcoin Lightning Network.
- We Thrive, an entrepreneurship group for youths, partnered with teachers at STRIVE Prep-Lake Middle School in Denver, CO to build a curriculum on Bitcoin
- They taught the kids about money (how it worked, who controls it, how it could be different) and how Bitcoin worked
- Students learned about crypto wallets and how to create invoices using Muun wallet
- Students built products to sell at the Entrepreneurship Fair, and accepted payments using Bitcoin
- ~$1k was raised from the community in Bitcoin as "seed capital" to fund the event
Pretty cool initiative. Students, parents, and the rest of the community all coming together to learn & use Bitcoin.
Talk about a Feel-Good Hallmark Holiday Story. Satoshi is shedding a tear, wherever he is.
That's a wrap for today. Stay thirsty & see ya tomorrow! If you want more, be sure to follow our Twitter (@MilkRoadDaily)
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DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research.
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