PLUS: Whatâs Peter Thiel been up to? January 20, 2023 | [Read Online]( GM. This is the Milk Road. The Watson to your Sherlock. The celery salt to your Chicago dog. The OJ to your bubbles. Weâve got your back. Hereâs what we got for ya today: - FTX boss says heâs open to restarting the exchange
- Thielâs quiet Bitcoin exit
- Strewth! A new species of crypto in Australia
- Bored Apes creator nets $6M in new NFT sales JOHN RAY SPEAKS FTT, the proprietary token of beleaguered exchange FTX, jumped 33% Thursday. Why??!? What happened???! Are users saved? Well, not yet. But John Ray SPOKE, thatâs what happened; and the FTX CEO/company cleaner-upper dropped some fireballs to [The Wall Street Journal](. Here are the biggest ones: 1/ Heâs open to restarting FTX to get funds back to customers Ray said heâs built a team to explore rebooting FTX as a way to repay customers. Heâs gotta figure out if thatâs a better option than liquidating assets or selling though. [Giphy]( Why, you ask, would they even consider relaunching the exchange that hurt hundreds of thousands of users? Because some stakeholders think thereâs merit in the technology and the business, Ray said. 2/ Ray called out Samuelâs Substack post and its FTX US solvency claims Remember Samuelâs Substack post where he said that FTX US was solvent? And he included a screenshot of a wonky spreadsheet that he said shows the numbers? Well, Ray found a hole in that balance sheet: Samuel counted $250M of cash thatâs in Ledger X, his US derivatives trading platform. Only that cash doesnât count because LedgerX was bought in 2021 using funds that were improperly transferred from FTX customers. Ray said thatâs what the problem was: Samuel âthinks everything is one big honey pot.â [Tenor]( To which Samuel said swerve, this is all false, plus even if you subtracted the $250m from his balance sheet, FTX US would still be solvent. He also accused Ray of wanting to keep said honey pot for his own, which brings us to⦠3/ RAY VS. SAMUEL ROUND (?) These two have some serious Vitamin D deficiencies from all the shade theyâre throwing at each other. One of Samuelâs newest bouts is jabbing Ray for collecting his paycheck ($1,300 an hour paid for in customer funds/creditors) and nothing more. Ray clapped back, saying âcrime is very expensive,â plus itâs hard to trust FTX employees, meaning heâs had to bring on outside experts that are pricey. The new FTX CEO also said Samuelâs Substack comments (that it was a mistake for FTX to file for bankruptcy and that Ray wasnât moving fast enough to repay customers) were unhelpful and self-serving, leaving no need for him to leave dialogue open with Samuel. [Tenor]( But Samuel will have a public mouthpiece for the foreseeable future; he tweeted another swipe @ Ray after the report came out. Remind us again why he was granted internet access in his bail conditions? TODAY'S EDITION IS BROUGHT TO YOU BY [ACF GAME (ALIEN CHICKEN FARM) - WEB3 GAME]( One thing about Web3 -> sometimes the weirder a project, the better. Thatâs why today we are introducing [Alien Chicken Farm (ACF)](. ACF is when Clash of Clans meets âthe chicken crosses the road.â ACF is on a mission to help first-time users learn, experience, and own digital assets on a blockchain in a frictionless manner. It isnât just another game randomly incorporating cryptocurrency. It has a full suite of in-game assets and their version of âPlay-to-(L)earnâ. And itâs real simple to get started: - Buy, Feed, Name and raise your chickens like itâs Nintendogsâ¦. but for chickens
- Grow your farm by breeding chickens and/or buying more Alien Chicken NFTs
- Expand your local chicken empire and keep breeding chickens to create super power chicken Even your favorite fake billionaire is an ACF fan: You can play the game in just 2 minutes per day and unlike a lot of other Web3 games, Alien Chicken Farm built by [Taolabs]( is already live - no extended demo periods or failed launches. Check out the Public-Beta for ACF right now on[Mobile]( (Android) and the [Web]( (Chrome). THIEL HYPED BITCOIN AFTER HIS FUND UNLOADED IT Peter Thiel is one of the most successful and controversial people in tech. Heâs a: - Tech billionaire. Cofounded companies like PayPal, Palantir, and the Thiel Fellowship - a program that pays young students to drop out of school & build cool companies. (Our Lanky King, Vitalik Buterin, was a Thiel fellow in 2014)
- Successful investor. Thiel was the first big investor in Facebook, and funded companies like SpaceX, AirBnB, Lyft, and more.
- Political megadonor. One of Donald Trumpâs earliest supporters, Thiel spent $30M on funding GOP candidates in the 2021 midterms. And turns out Thiel is just as successful in crypto. According to [a Financial Times report](, his VC firm (Founders Fund) generated ~$1.8B in returns from crypto. The Founders Fund first invested in Bitcoin back in 2014 and subsequently accumulated a large crypto position. According to the report, ~66% of the firmâs overall crypto investments were in Bitcoin. Thiel's firm timed the market (damn near) perfectly and sold off most of its investments by the end of March 2022 - right before the big crypto crash. So while countless VC firms lost billions during the crash, Thiel and his crew were chilling & sipping on Adios Motherf*cker cocktails. The timing, the profits - itâs all amazing. But⦠He was hyping crypto after the sale. At a Miami bitcoin conference in April 2022, he told attendees âweâre at the end of the fiat money regimeâ and that the value of Bitcoin could increase 100x. Sometimes itâs better to ignore what people say and let their wallet do the talking. THERE'S A NEW SPECIES OF CRYPTO IN AUSTRALIA Crikey, mate! Thereâs a new species in Australia. Donât worry itâs not a giant, human-eating, monkey-spider (this time). *Phew* Itâs called AUDN - a new stablecoin that will be pegged to the value of the Australian dollar. Hereâs everything you need to know about the new stablecoin: - AUDN is fully backed 1-to-1 by the Australian dollar
- One of the four biggest banks in Australia created it. The National Australia Bank (NAB) will also hold the physical money backing the new stablecoin in its banks
- It will be launched on the Ethereum and Algorand blockchains in the middle of 2023. Customers will be able to settle transactions on both blockchains in real-time, using Australian dollars
- It will also be used for carbon credit trading, repurchase agreements, and more Why this matters: Sure, some people think stablecoins are as boring as watching paint dry (they always stay at $1, blah blah blah), but stablecoins have grown into a $138B market and play a big role. Stablecoins give people the ability to use crypto, without all the volatility that comes with it. That being said, if weâre learned one thing: you canât trust all stablecoins. *cough* UST *cough* So weâll leave you with some words from the great Steve Irwin: âCrocodiles are easy. They try to kill and eat you. People Stablecoins are harder. Sometimes they pretend to be your friend first.â MILK AND COOKIES *DJ Khalid voice* Another one. [Blockchain company Consensys is laying off 11% of staff, or 97 of its ~900 employees, because of âuncertain market conditions.â]( Surgeon to the metaverse, stat! [The National University of Singapore made a glove that lets the wearer feel in the metaverse.]( One use could be for medical pros to practice in VR. Weâll leave other uses up to your imagination. Dookey Dash.[Yuga Labs, the startup behind the Bored Ape Yacht Club world, netted over $6m in sales with its new collection of NFTs, dubbed Sewer Passes.]( MILKY MEME ð¤£ð¤£ [reddit.com]( That's a wrap for today. Stay thirsty & see ya tomorrow! If you want more, be sure to follow our Twitter [(@MilkRoadDaily)]( Share The Milk Road You currently have 0 referrals, only 1 away from receiving An Inside Look At What The Crypto Whales Are Betting On. [An Inside Look At What The Crypto Whales Are Betting On]( [Click to Share]( Or copy and paste this link to others: [ INTERESTED IN ADVERTISING ON THE MILK ROAD? [Fill out this survey]( and we'll get back to you soon! What'd you think of today's edition? - [ð¥ð¥ð¥ð¥ð¥ F**king great](
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