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April 5, 2023

🥛 The tweet heard ’round crypto 👀

GM. This is Milk Road. We’re like that friend that makes you put a dollar in a jar every time you text your ex. We’ve got your back.

Here’s what we’re serving up today:

  • A hash prediction gone wrong ❌

  • Twitter has a new logo 🐶

  • Visual of the Day: Ordinals on the rise 🚀

  • The coolest jobs in Web3 📝

  • Signature insiders sold $100M shares before fall 🍪

Prices as of 9:30 AM ET

Today's edition is brought to you by Scar Speed, a free-to-play combat car racing game.

A CRYPTO INFLUENCER’S $50M TWEET ❌

Ladies & gents, there’s fresh drama in Cryptoland. And it includes an Interpol Red Notice, a tweet, and $50M in liquidations.

Get your popcorn ready, cause this one’s a doozy.

PART 1: THE TWEET

Cobie is a popular Crypto Twitter regular with a lot of influence in the space. And on Monday, he tweeted a hash prediction.

It’s a cryptographically encrypted message predicting something big is gonna go down.

twitter.com/cobie

So why do people create hash predictions? Because if events play out the way you said they would, you get to reveal your message and prove to everyone that you “predicted the future.” You’re the Merlin of the crypto-verse.

And if you’re wrong, you can quietly delete it and no one would know. Usually, no one reveals the message until after the predicted event unfolds – so the market doesn’t get all spooked.

But this time, the crypto masses decoded Cobie’s message right after he tweeted it. Ooopsie. (He later said someone he talked to about the rumor leaked the secret to the code to “cause a stir” at his expense.)

What was the message? That CZ (the founder of Binance) was on Interpol’s Red Notice.

Cobie was just making a crazy prediction based on a rumor he heard. It was supposed to be harmless, but instead…

PART 2: THE MARKET GOT SPOOKED

Some people believed it was true because of all the lawsuits Binance and CZ have racked up. So the rumor spread like wildfire and the markets went berserk…

  • $50M was liquidated on Binance within 24 hours

  • Binance’s token, BNB, instantly dropped instantly from $312 to $300 Monday

  • Bitcoin instantly dropped from $28,160 –> $27,414

  • Oh, and CZ hit Cobie with the ole’ unfollow *Alexa, play Bad Blood by T-Swift*

CZ later tweeted that the image of him on the Interpol Red Notice web page was photoshopped. Cobie posted that it was a rumor, too.

But the damage was already done.

The Milk Road Take: Don’t trust anything you read on the internet. Take everything with a golf ball-sized grain of salt.

That’s true with celeb flings & Harry Potter reboots (please god, no) but especially with a market as volatile as crypto.

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Scar Speed is a free-to-play skill-based combat car racing game with the objective to win races using Power-Ups. It’s where crypto meets racing, what do they have in common?

Here’s why Scar Speed is exciting :

  • They already have paid white listers and a real active community

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TWITTER GOES DOGE 🐶

In case you missed it, Twitter has a new look… the logo and loading button have been changed to the Doge symbol.

Yup, Elon hit us with the one thing that catches eyes and cuts through hearts: the puppy eyes. And it worked…

Everyone was talking about the new logo, and DOGE pumped 30% within a few hours. As of now, it’s still up 25% since the logo change.

Source: CoinMarketCap

CoinMarketCap

But here’s the kicker: no one knows why Elon did it…

It could be a big partnership. It could be a delayed April Fools Joke since the 4 people left on the tech team are probably backed up. Or it could just be Elon meme-ing us…

We all know Elon loves his Doge[coin] and has hinted at using it as a payment method on Twitter before. So he’s either got a big announcement coming soon, or he’s just pumping his bags, again. Who the hell knows anymore…

VISUAL OF THE DAY: ORDINALS ARE ON THE RISE 🚀

Ordinals are the new king of the Bitcoin hill. They've only been around for 4 months but boy oh boy, have they taken the throne.

Over the last 3 days, 162,00+ Ordinals have been inscribed. 72,000+ of these were inscribed on Sunday alone (a new daily record).

Check it out, it has one of those rocketship graphs.

Dune Analytics

So what’s causing this? Adoption and Accessibility.

  • Large amount of new collections. The biggest names in the game like Yuga Labs, DeGods, and Sappy Seals have all gotten the Ordinals fever and launched their own collections.

  • There’s finally a marketplace. Magic Eden launched the first Ordinals marketplace last month, which means people finally have a place to buy/sell their assets. Before this everyone was trading like it was the 15th century, when everyone was using the Silk Road (the OG version).

So what? People are beginning to look at Bitcoin like never before. It is hard to say that Ordinals are just a fad at this point, which reopens the discussion around the use cases of Bitcoin.

More use cases = more adoption = more Bitcoin growth.

THE COOLEST JOBS IN WEB3 📝

The Milk Man has a new favorite day of the week. Know what it is?

Yep, you guessed it: it’s Wednesday.

That’s because we round up a bunch of cool Web3 jobs for you Roadies every Hump Day.

So dust off your resume, cause here are today's:

P.S. – Are you trying to hire in Web3? Learn how to get your open jobs in front of 250k+ crypto enthusiasts here.

BITE-SIZED COOKIES 🍪 

Signature Bank insiders sold $100M+ in shares in 3 years before the downfall. The transactions were kept quiet because they filed them with the FDIC instead of the SEC. Sneaky sneaky…🤫

Gucci and Yuga Labs team up to launch limited edition pendants. For those looking to flex within the metaverse and IRL.

Papa John's is launching an NFT collection. That's right, everyone's favorite drunk pizza is hitting Web3.

Euler announces they have gotten “all of the recoverable funds” back from the hacker. The 23-day standoff is over. Funds are recovered. Customers can get reimbursed. Big win for the good guys…

MILKY MEMES 🤣

That's a wrap for today. Meet us on Twitter to talk all about it. It’s kinda like a family BBQ but better – no screaming kids, awkward photos, or drunk uncles telling weird stories (@MilkRoadDaily)

HIT THE INBOX OF 250K+ CRYPTO INVESTORS

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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.