🤯 The Biggest Conspiracy of the Year!

Gm, this is the doodhwala, the crypto newsletter that will ALWAYS deliver. 🥛

Yes, we may show up late some days due to tech glitches, traffic or rain but we always SHOW UP to entertain you. 💪

Here’s what we got for you today—

• 🏆 Conspiracy Award: The biggest conspiracy of the year is here ladies and gents.

• 📉 Curve’s Debt: Curve founder’s debt could topple the market.

• 📈 Cheese and Charts: Narratives = Profit?

• 🛠️ Resourcewala: Trade Memes?

• 🍼 Doodhshots: New Ralph Lauren Metaverse shoes

🏆 Conspiracy Of The Year = $BALD x SBF

Well…well…well.

The token that made people millionaires over the weekend—🤑

Is now faced with one of the biggest conspiracy theories of all time in crypto. 😮

The $BALD token just faced a rug pull and has lost over 95% of its overall value.📉

Who is behind this rugpull?🤔

And what is their motive?

Make sure you read till the end, coz the dots are connecting on this one. 🥛🔮

1️⃣ Understanding the Rugpull.

Remember when we wrote about Bald?

The premise for this token was simple.

$BALD = Bald.👨‍🦲

That's all.

You have no clue how wrong we were on that premise. 💀

When you bridge your funds to a new chain called BASE (where you can't even bridge back!), to trade a token called BALD—

The red flags should've been visible. ⛳

BALD token just went through a Rug Pull, and had lost all of its value. 📉

Screw Weekend millionaires. 🤷

Weekday Rugpulls is the new thing. 🙄

2️⃣ And the suspect is….

When you go through a rug pull, you start connecting the dots.

Who could've done it? 🤔

And everyone is pretty confident right now on who it is.

And…The culprit is…

None other than SAM BANKMAN FRIED!

🙄🙄🙄

What the hell has been cooking in jail?

The same mfer who robbed everyone using FTX is now robbing everyone using BALD token. 😶‍🌫️

But wait? How tho?

Right. Here's the thing—

👉 The wallet address linked with the address providing liquidity to BALD was an early voter on Sushi Swap.

👉 This wallet was surrendered to Alameda and SBF a long time back.

👉 This same wallet was also responsible for the crash of Terra Stablecoin. 💀

But wait…that's not all.

There are too many instances of things sounding eerily similar to SBF.

Things like Serum, a DEX built by SBF for Solana—

Suddenly shilling for BALD. 🤫

Or things like eerily similar writing styles on the BALD Twitter account and SBF’s own way of writing. 👇

3️⃣ SBF’s motivation for BALD. (We think)

We know wtf you’re all thinking!

But how is that even possible? Isn't he in jail? 💀

Well not exactly, the man has been placed under house arrest as of now.

In fact, he's been spotted roaming the streets of New York. 👇

Here’s the thesis (We think)—

👉 SBF lost a ton of Money with Alameda and FTX getting rekt.

👉 He needs a ton of money to lawyer up and save his 🍑.

👉 He’ll do anything to get that money back, coz he’s a crook and always has been one. 🤷

The other possibility is that, if not SBF—

It surely is an insider from Alameda who’s been running this whole 💩-show all this time.

The other motives?

• Trying to frame Coinbase? Possible.

• He’s weird and wants something new in his life**. Highly possible.**

• He wants another orgy island. Dawgg yess.

What do you guys think?

Silly conspiracy?

Or straight up faxx?

Doodhwala’s take: Why does this mfer keep popping up all the time? 🤷

Like can’t he just be like the other normal people who go to jail for ruining people’s lives?

📉 Market Crash In DeFi?

Michael Egorov.

He's the dude who started Curve Finance, that DeFi exchange we're talking about. 💬

But why do we care? 🤷‍♀️

Because his huge pile of debt could shake up DeFi in a big way. 🌋

Let's break it down 📚

A recent report says Egorov owes a huge $100 million in loans.

What's he using to promise he'll pay it back? An equally huge 400 million CRV tokens.

Here are the hot facts:

🔹 On Aave (that's a DeFi platform), Egorov has a $63.2-million loan, backed by 305 million CRV.

🔹 On Frax Finance (another DeFi platform), he's got a $15.8-million loan, backed by 59 million CRV.

And it gets crazier. 😅

The report says if the value of CRV drops to $0.3767, Egorov's loan on Aave could be sold off!

That's just a 36% drop from the current value of $0.5975. 😬

And it's even riskier on Frax Finance.

They've got a changing interest rate which could be really bad news. ⏰💥

Right now, the interest on the loan is a pretty high 81.2%.

But get this, it could jump to a crazy 10,000% in just 3.5 days!

That's like owing a lot more money, really quickly. 💰

But Egorov isn't just letting this happen. 💪

He's already paid off 4 million FRAX (that's a token) in the last 24 hours to try and lower his debt.

But as soon as he does, people quickly pull their money out.

So, what's Egorov's big plan?

He's started a Curve pool to attract more money to the market.

Just four hours after starting it, the pool collected $2 million. Nice one, Egorov!

So what does everyone else think about this? 🗣️

Some people say it's a really bad look for DeFi.

Others are worried it might scare new people away.

Well, whatever it is, we’re not gonna stop delivering our crypto doodh.🥛

📈 Cheese and Charts: Narratives = Profits?

Ideas and stories.

These 2 things literally shape what people basically consider when they invest in anything.💸

• What’s the idea?

• What are people saying about it?

• Are they subscribed to the Doodhwala!?

Questions like these are what lead to Narratives. 📜

Narratives have been driving the crypto world all the time. 🚙

And these Narratives are things like—

👉 Memecoins.

👉 A.I.

👉LSDs. 💊

…and a lot more.

So we found a chart that maps the biggest crypto narratives of the past few months. 📊

That big pointy thing that you see isn’t a cyborg cat. 🐱

That’s the narrative spike when meme coins went viral again this year, especially with PEPE.

What are the other dominant narratives driving the market?🤔

Mainly stuff like—

▶️ Derivatives.

▶️ Real World Assets.

▶️ Privacy.

What do you think? Is investing based on narratives a wise choice?

Hit reply and let us know what you think! 👇

🛠 Resourcewala: Trade Your Fave Memes

Memes are ruling the world, no cap. 🧢

But what if you could TRADE on them like stocks? 😱

Have you ever found yourself scrolling through dank memes and thought, “Damn, I wish I could invest in this”? Now, you can with Curation Markets!

But like, how does it work, and who even came up with this insanity?

This cheeky resource breaks down the whole shebang:

1️⃣ WTF are Curation Markets? 🤔

2️⃣ Why do we even need them? 🚀

3️⃣ How does trading memes and information work? 📈

READ TIME: Quicker than the life cycle of a viral meme.⚡

🍼 Doodhshots: Ralph Lauren in the house

• 🌐 Diversify or Bust: "Let's just diversify and see," says Binance CEO, painting a broad-strokes strategy for their stablecoin game. To the moon, or just scatter-shot?

• 👞 Virtual Vogue: Ralph Lauren dives into the metaverse, launching a physical shoe inspired by Fortnite. Is the future of fashion digital?

• 🇯🇵 Binance's Rising Sun: Binance prepares to charm Japan anew, with plans to list 34 tokens on its comeback. Konnichiwa to new crypto contenders?

• 🏛️ USDC Under Fire: US defence bill could spell trouble for USDC and other stablecoins. Is Uncle Sam tightening his grip?

• 🛍️ Shopping Spree: Justin Sun, DCF God, and other high-profile players queue up to grab Curve Finance Founder's CRV Tokens. Cash or CRV?

📍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 Solana Ecosystem Call

🗓️ This Thursday 📍 Online

⭐️ Register here → https://www.meetupswala.xyz/events/1015

2️⃣ Text to Code | Session #6: Bridging Ecosystems: The Intersection of Crypto and Fintech

🗓️ This Friday 📍 BLR

⭐️ Register here → https://www.meetupswala.xyz/events/1016

3️⃣ How to Make Content Your Moat in Web3 ✍️

🗓️ This Thursday 📍 Twitter Spaces

⭐️ Register here → https://www.meetupswala.xyz/events/1017

🤣 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