PLUS: Shaq gets served by FTX ð May 25, 2023 | [Read Online]( GM. This is Milk Road. Weâre like a Tootsie Lollipop - satisfying, delicious, & we donât make you work too hard to get to the center (i.e. the good stuff.) Hereâs what we got for you today: - A gamble thatâs gone the distance ð° - FTX might come back to life ð§ - Visual of the day: dipped stablecoin trading volume ð - Shaq gets served ðª Prices as of 7:30am EDT Todayâs edition is brought to you by [Access]( - a monetization ecosystem that is uniting content creators and consumers through on-chain relationships ð¤Â JOE V. JIMMY: 5 YEARS OF HIGH STAKES ð° Everyone in crypto loves a good olâ bet. Itâs provocative, it gets the people going. Weâve seen: - [Balajiâs $1M BTC bet]( - [Do Kwonâs $20M+ Luna bet]( Well, this next bet is a 5-year wager thatâs worth 7 figures. Itâs the Joe Lubin vs Jimmy Song bet. In the blue corner: Joe Lubin - Co-founder of Ethereum. CEO of Consensys. And OG homies with Vitalik. In the red corner: Jimmy Song - Bitcoin Maxi. World traveler. Wearer of Cowboy hats. What was the bet? Whether or not Decentralized apps (dApps) on Ethereum would be widely adopted in 5 years. There were 3 conditions: - 5 Ethereum dApps needed to have 10K+ daily active users - They also needed to have 100K+ monthly active users for six months out of a calendar year - The bet is decided in May 2023, 5 years from the deal being made Jimmy put up 69.74 BTC and Joe put up ~810 ETH. At the time, BTC was ~$8,500 and ETH was ~$700. Who won the bet? Joe. It was close, but with the help of dApps like Uniswap (peak of 1M monthly active users), OpenSea, Suhiswap, and more - Joe got the W. We havenât seen Jimmy pay up yet, so this million-dollar question is⦠Will the Bitcoin Cowboy be a man of his word or ride off into the sunset (without paying up)? Either way, it's still a pretty cool bet. And itâs crazy to see how far crypto has come. Joe must be feelinâ like a proud papa :â) [THE ALL-IN-ONE ECOSYSTEM FOR CONTENT CREATORS](ð Iâll let you in on a little secret⦠The subscription model is broken. Thereâs nothing worse than checking your bank statement to see youâre still paying for that outdated magazine⦠Well the Milk Man has found a solution: [Access](. Access enables creators to: - Build strong on-chain relationships with their consumers - Mint NFTs directly to subscribers - Token gate content and community channels And even though CoinGecko, The Block, and CryptoSlate use it, itâs not just for big companies. [Check out the Access Content Hub]( to see how various creators are currently leveraging the platform. But the best part? Access Labs recently launched [Scribe](. Scribe aims to be THE publishing platform for small and independent creators. The platform is currently in Beta, but the team has opened up priority submissions for Milk Road readers - just sign up below! See why 120,000 subscribers already use Access: [Sign up today]( HERE COMES FTX 2.0? ð§ Ladies & gents, get your popcorn ready. Crypto might be getting a blockbuster sequel that no one saw coming⦠FTX 2.0. I know, terrifying. Sounds like the next movie for The Evil Dead trilogy. The director? John Ray III (the current FTX CEO.) According to [recent documents](, John Ray III and the FTX bankruptcy team have been working on a plan to potentially restart the exchange. Hereâs a behind-the-scenes peek at whatâs been done for FTX 2.0 so far: So, what would this mean for creditors? It might be one of the best shots for everyone to get their money back. And it has support from some FTX creditors so far. But even though it might be best for creditors, itâs still a long shot. The core FTX product is FLAWED. It has: - Coding issues - Poor performance - Software bugs Plus Ray would need to raise a sh*tton of capital. Tribe Capital (VC firm) did say itâd put up $100M for the endeavor. But itâd be a lot cheaper to just launch a new exchange without that tainted af FTX name⦠VISUAL OF THE DAY: STABLECOIN TRADING VOLUME AT YEARLY LOW ð The stablecoin market cap is the lowest itâs been since September 2021. And trading volumes have fallen 40%+ in May - thatâs the lowest levels on CEXs since December. So whatâs going on? A combo of 2 things: 1/ Crypto prices are Stable (with a capital S) When crypto prices are stable â stablecoin volume goes down. When crypto prices are volatile â stablecoin volume goes up. Well, recently crypto prices have been playing ping pong. BTC canât break through $30K, ETH canât surpass $2K (both are significant levels.) That hurts trading volume for stablecoin asset pairs. 2/ A couple of major stablecoins have taken a beating this year - Paxos [stopped issuing BUSD.]( - Circle (issuer of USDC) had $3B in the SVB collapse. It caused a panic that made USDC depeg. Example No. 743,719 why they shouldn't have named these things âstablecoins.â MILK & COOKIES ðª [Web3 companies have been advertising on the iconic NYC Times Square NASDAQ building.]( All with the help of [Pirix.co](. They offer top-tier media coverage that helps brands build credibility, get ranked higher on Google and create an effective digital presence.* [Shaq was finally served his FTX class action lawsuit.]( The lawsuit was given during the Heat game at the (checks notes) former FTX arena. Talk about coming full circle⦠[Do Kwonâs bail in Montenegro was revoked.]( No bail, more jail. [$3.5B of BTC and ETH options are set to expire on May 26th.]( Brace yourself for some short-term volatility. [Caroline Ellisonâs diary has become a key piece of evidence in the FTX case.]( It includes âhandwritten observationsâ that âexpress personal and professional resentmentâ towards SBF. Yikes. * This is sponsored ad content MILKY MEMES 𤣠Share Milk Road You currently have 0 referrals, only 1 away from receiving The Next 10x Opportunity in Crypto for 2023. [The Next 10x Opportunity in Crypto for 2023]( [Click to Share]( Or copy and paste this link to others: HIT THE INBOX OF 250K+ CRYPTO INVESTORS Advertise with the Milk Road to get your brand in front of the Who's Who of crypto. The Roadies are high-income crypto investors who are always looking for their next interesting product or tool. [Get in touch today](. What'd you think of today's edition? - [ð¥ð¥ð¥ð¥ð¥ F**king great](
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