🔥 This is one of the BIGGEST days for Bitcoin in its history!

Gm, this is doodhwala, the crypto newsletter that’s there for you whether $BTC go up or $BTC go down. ❤️

But THANK GOD it went up yesterday! 😭

Here’s what we got for you—

• 🤾 YEET! : Grayscale Just YEETED The SEC

• 🐸 PEPE Rekt: PEPE Just Got Liquidated For 16 Trillion

• 📈 Cheese and Charts: LSDs In 2023 Be Like…

• 🛠️ Resourcewala: AI-Generated NFTs?

• 🍼 Doodhshots: Modiji and Cryptocurrency

🤾 Grayscale YEETS the SEC

Bitcoin ETF update - IT’S HAPPENING! 🥳

What a beautiful day!

The Sun is shining, birds are chirping, and → The SEC got rekt by Grayscale. 😌

Grayscale Investments, the firm that had sued the SEC for not approving their Bitcoin Spot ETF in 2022—

Just got a decision in their favor, and the market is absolutely loving it! 📈

WTF happened in the decision? How will it boost the ETF listing possibility?

And more importantly, how did they YEET Gary Gensler? ➡️

1️⃣ Grayscale: What it is, and why they’re important.

Grayscale is like that friend who does stupid things, but is still kinda amazing. 🤭

Here's a quick snapshot into their history—

• Started in 2013 as a Bitcoin Asset Manager.

• Became a subsidiary of Digital Currency Group in 2015.

• Launched GBTC, a.k.a, Grayscale’s Bitcoin Trust in 2015, which offered Over-the-counter Bitcoin in the market, the first publicly traded Bitcoin fund in the United States.

• Submitted this fund to the SEC in 2017 and 2022 to get it converted into an ETF → SEC tells them to GTFO.

• Grayscale filed a case against the SEC in 2022 for this, they won it in their favor today. 🏆

2️⃣ What’s the decision?

The US court judge just ruled in favor of Grayscale for approval of their GBTC ETF. 🎉

It means that Grayscale's lawsuit telling that the SEC were Oatmilk drinkers—

Who unlawfully chose to reject their proposal for an ETF- were right! 🤷‍♂️

This move was a huge slap on the SEC, who have already been called hypocrites for their actions this year.

Here's what Grayscale's CEO had to say about the decision 👇

3️⃣ How did the market react?

The markets were greener than a vegan’s Sunday brunch plate. (Screw those guys 🤢)

Bitcoin went up by almost 10% at one point after the news of this decision came out.

You see the likelihood in the favor of any ETF is considered positive news now. 😌

And not just Bitcoin, even coins like Ethereum, BNB and Solana saw a huge spike in the price after the decision came out.

Doodhwala finally saw some green in their portfolio, a rare occurrence indeed. 🥲

Just look at that cliff tho. 👇

4️⃣ Will there be a Bitcoin ETF soon then?

Yes, but we’re not sure. 💀

You see at the end of the day, we deliver the best quality milk to your doorstep.

That’s our job. Milk. 🥛

Grayscale’s decision is to be widely celebrated fo sho, but we’ll only have to wait and watch.

It does make sense tho, when you consider the macro picture of everything that’s been going on with Bitcoin ETFs.

It’s a battle of ego now. ⚔️

Will the SEC take the L and allow their lawsuit defeat-er to have an ETF?

Or will they throw them away and allow big financial institutions like —

• Blackrock

• Charles Schwab

• Fidelity

… and more to get their Bitcoin ETFs? 🤔

Who knows doodh? Stay milky, the market is about to frikkin flip! 🥛

🐸 Pepe Got ***!

PepeCoin.

It’s everything Twitter can talk about lately.

Did it rally 100% in a day? Nah man.

But the story behind its latest happening? Crazy-ass. 🍑

Let's break it down:

PepeCoin isn’t just another coin; it's a memecoin, like the Dogecoin, inspired by an internet meme.

So PepeCoin fell 17% as most shitcoins memecoins do.

Why? A scandalous 16 trillion PEPE liquidation. Yeah. 16 trillion. 😲

That’s $16 million for you.

It was found out that $16 million of PepeCoin was quickly sent to exchanges. And then? It was all sold. 😱

AND AND this 16 trillion Pepe was sent from one of the project’s key wallets - can be a big insider trade. Or a rug pull too. Who knows.

That’s why it’s f**ked up.

The pseudonymous founder of Pepe said some team members went rogue.

But no worries, they promise the rest of their Pepe, worth $8.7 million, is safe and sound, and Pepe can continue its mission - don’t know wtf is this mission tho.

But even after all this, some big Pepe fans are hopeful as shit. 🚀

One of these fans, Jason Williams, who, in fact, is a Bitcoin maxi said, “Everything's okay with Pepe. No worries!” 🐸👍

Tho Cory Klippsten, CEO of Swan, had some strong words to say.

He said true Bitcoincoiners shouldn't support coins like PepeCoin.

But let's remember some good times too:

1. PepeCoin was worth a huge $1.5 billion in May.

2. And there was a big sign in the sky in Miami that said, “$PEPE IS THE NEXT $BITCOIN.”

Don’t believe me? See yourself.👇

Gotta say, whoever did this must be on something really psychedelic.

FYI, Pepe’s currently worth $371 million and is in 98th place among other coins.

Not too shabby for Pepe. 😉

Some other big Twitter names also backed our shitty froggy coin.

Pauly thinks PepeCoin is standing strong and Alchemist?

And Alchemist? He’s on a mission to bring back the OG Pepe vibes. 😎🤘

Mando, co-founder of some cool NFT analytics thing called DegenzNFT (because why have a boring name?) also backed PepeCoin. He thinks the community's got this.

But according to an analytics platform, the sentiment around Pepe is more bearish than bullish.

• Bearish sentiment - A 250% increase

• Bullish sentiment - A 160% increase

So, what's next for PepeCoin? Who knows!

Crypto can be as unpredictable as my next crush friendzoning me. Oh wait, that’s predictable.

Leave it. We’ll just wait and see. 😂

📈 Cheese and Charts: LSDs in 2023 be like…

As professional doodh suppliers, there is only one drug that we would suggest you use to stay in the crypto market—

LSDs. 💊

Holup bro, not so soon. We’re talking about Liquid Staking Derivatives, not the ones you popped last night. 🥴

If there was an award for the best crypto use case in 2023 so far—

There’s no doubt that LSDs would be the winner! 🏆

And there are 3 projects in particular that are making this game winnable.

• Lido Finance (stETH) - $13.9 Billion

• Coinbase (cbETH) - $2.1 Billion

• Rocketpool (rETH) - $1.5 Billion

These 👆 are the numbers staked on the platform so far.

In fact, Lido has been the flagbearer since its inception and has captured 74% of the Liquid Staking market share—

Unaffected by any competitors against the project! 💪

All these factors have pushed the LSD’s aggregate value from $7.9 Billion → $18.8 Billion in 2023.

What do you think? Are LSDs the clear winner of 2023? 🥇

Hit reply and let us know what you think! 👇

🛠 Resourcewala: The AI-Powered NFT Revolution is HERE!

Remember the days when creating NFTs seemed like a task for the coding pro?

Well, those days are gone. 🚀

Ever dreamt of generating an NFT with AI? How about deploying its smart contract and the Front End App? 🖌️💻

Well, we've found a gem that’ll make your heart skip a beat:

• Wtf are AI-generated NFTs? 🧠🎨

• Step-by-step to deploy your NFT smart contract! 💼

• Building that fancy Front End App for your art viewers!

LFG! 🔥🔥🔥

🍼 Doodhshots: Modi Ji Speaks out

• 🤝 Genesis Settlement: Genesis and the Digital Currency Group shake hands on an in-principle agreement to put creditors' claims to bed. Peace out, credit woes!

• 🚪 Russian Exit: Crypto behemoth Binance might be packing its bags from the Russian crypto market. Bye-bye, Putin.

• 🌐 Indian PM Speaks: India's Prime Minister Narendra Modi says crypto and AI need some global regulations. I love my India….

• ⚖️ DOJ vs. Sam: DOJ says "Nope!" to all of Sam Bankman-Fried's witness list. Witnesses got fried.

• 📉 CoinSwitch's Crunch: Indian exchange CoinSwitch cuts down its support team, blaming those pesky market blues. Bearish blues or just a strategic move?

📍Web3 Events Nearby

Another weekend coming up, another meetup to attend. 😎

Check out ➡️ meetupswala.xyz for upcoming Web3 events in your city, whether you're looking for:

• meetups

• hackathons

• conferences

• or just wanna hang

Meetupswala will have something that's right for you.

Here are the top Web 3 events for this week:

1️⃣ All 'Bout Connecting Networking Night - BLR

🗓️ This Saturday 📍 Bangalore

⭐️ Register here → https://www.meetupswala.xyz/events/1063

2️⃣ Blockchain Bytes - Chennai

🗓️ This Saturday 📍 Chennai

⭐️ Register here → https://www.meetupswala.xyz/events/1064

3️⃣ Billion Reasons to Build ~ Nomoskar Kolkata

🗓️ This Friday 📍Kolkata

⭐️ Register here → https://www.meetupswala.xyz/events/1062

🤣 Milky Meme Of The Day

If you want more doodh then, be sure to follow our Twitter, LinkedIn, and Instagram.

That’s all for today folks! See ya tomorrow!

Yo! Our legal and financial advisors (aka our good ol’ conscience) have asked us to add this boring disclaimer. None of what you read here is financial advice. We aren’t here to get you to buy or sell crypto. We’re only here to tell you what’s up in crypto today and make you laugh. So, if you screwed up on a trade, that’s on you G. Stay safe in the markets.

Today’s edition was brought to you by Ritik Gupta and Sumanth

Edited by: Arvind Krishna and Aakash Athawasya