Hey, my fine friends,

Crypto joke time:

What is the most effective way to get a hardcore crypto technical analyst off your porch?

Pay him for the pizza! 🤣🤣

Ok, enough silliness; let’s crack on!

• 🥊 Ripple vs. Zakinov; Ding Ding, Round Six Million

• 🧝‍♂️ Merlin’s Magic Couldn’t Stop a $2M Rugpull

• 🗿 Cameron Winklevoss Accused of Making a Valid Point

Ripple vs. Zakinov: Does Anyone Actually Understand What’s Going On?

So, yesterday, the class certification hearing against Ripple by XRP holder Vladi Zakinov took place over Zoom.It seems a legit way to hold such an important hearing! 🙈

Vladi Zakinov, who owned XRP for just two weeks, seeks to be the lead plaintiff in the class action lawsuit. He argues that XRP is a security Ripple has issued and asks the court to form a class consisting of all XRP owners who bought and now hold XRP or sold it at a loss.Sour grapes? 🍇The Zoom hearing had space for 500 registrations from the public, but the XRP community attorney John E. Deaton wasn’t allowed to speak.Remarkably, the judge stated during the hearing that she had attended a seminar on crypto before the hearing and walked out just as confused as she was when she walked in. Understandably, the hearing was described as very tedious and lacking in clarity. 🕶️

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LonghornFX allows you to set your virtual cash balance when creating the demo account, and you can trade for as long as you want.

Merlin and CertiK Plan to Compensate Users After Rugpull

So, even if you name your DEX after a famous mythical wizard, you can’t actually use magic to fend off a rug pull.

After rogue developers based somewhere in Europe pulled off a rug pull worth almost $2 million 💰yesterday, zkSync-based decentralized exchange Merlin announced plans to compensate its users.

Despite touting a security audit performed by blockchain security firm CertiK, Merlin fell victim to the exploit on Wednesday morning during a public sale of its mage (MAGE) tokens.

A representative from CertiK said: 

“Working closely with the remaining Merlin team, CertiK will initiate a compensation plan to cover the lost funds for affected users.”

The rogue developer has been urged to return 80% of the stolen funds and accept a 20% white hat bounty.

$400k profit and impunity…from stealing…Does anyone else see the problem here? 🤑

Cameron Winklevoss 🗿 Accuses Regulators of Double Standards

While speaking out about the collapse of the First Republic Bank, C. Winklevoss commented that if First Republic had been a “crypto bank,” it would have been “assassinated weeks ago.”

First Republic initially began experiencing “structural challenges” with its balance sheet when Silicon Valley Investment Bank and Silvergate Bank were being closed down by federal regulators.

Winklevoss’s claims align with letters penned by three Republican members of the United States House of Representatives Financial Services Committee seeking further information on possible coordinated efforts against crypto companies operating on U.S. soil.

However, if there is such a black ops subterfuge plan, it may be backfiring.

The downfall of First Republic Bank seems to be actually fuelling investment into Bitcoin and other cryptocurrencies as investors grow increasingly distrustful of centralized banking institutions.

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