Master of Anons: How a Crypto Developer Faked a DeFi Ecosystem

The Macalinao brothers used a web of bogus identities to create the illusion of a dev community, juicing value on the Saber protocol and Solana blockchain. Now they're moving to Aptos.

Coding as 11 purportedly independent developers, Ian, a 20-something computer wiz from Texas, created a vast web of interlocking DeFi protocols that projected billions of dollars of double-counted value onto the Saber ecosystem. That temporarily inflated the total value locked (TVL) on Solana, as the network was racing toward its zenith last November. The DeFi faithful regard TVL as a barometer for on-chain activity.

“I devised a scheme to maximize Solana’s TVL: I would build protocols that stack on top of each other, such that a dollar could be counted several times,” Ian wrote in a never-published blog post reviewed by CoinDesk. The blog post was prepared on March 26, three days after Cashio, one of Ian’s secretly built protocols, lost $52 million in a hack.

https://www.coindesk.com/layer2/2022/08/04/master-of-anons-how-a-crypto-developer-faked-a-defi-ecosystem/

The Inflation Reduction Act (i.e., Tax Raise for Climate and Health Agenda Act)

So they passed a $740B bill which basically raises taxes (via IRS enforcement and corporate minimum tax raise) and invests the money on climate change (imaginary problem) and healthcare subsidies (inefficient capital allocation)

The best part is they get to call it the Inflation Reduction Act rather than the TAX RAISE ACT. Clever.

Wut?!
Pumponomics at its finest 😅

WEF & MSM teeing up the “Degrowth” theory. Which is a theory calling for reversing human progress and shrinking economies to avoid using natural resources

https://www.weforum.org/agenda/2022/06/what-is-degrowth-economics-climate-change

Bitcoin was build with resilience in mind

Empire State Manufacturing Survey suggest a free fall in production

Donation campaign to Hodlonaut in his fight against Craig Wright, the #Faketosho

#WeAreAllHodlonaut

https://twitter.com/hodlonaut/status/1560319056732983296

Towards the final phase of a liquidity downturn

Legal Defense Fund Launched to Support Free Speech

- operated by opensats
- will support hodlonaut and other open source contributors facing lawsuits

https://defendingbtc.com
archive: https://archive.ph/mkvoS

Next time you hear the job market is hot, recall that the workforce participation rate is back to 1977 levels.

If you people self-excluded from the workforce, the unemployment rate (which only counts people actively looking for jobs) will be artificially low.

This is how we respond to a shitcoin project that wants to work with us