Over the past three years VCs have invested billions into essentially worthless crypto companies. They’re now holding giant bags of tokens that need to be dumped on retail ASAP.

If Coinbase’s shitcoin listing operation were shut down by the SEC, the VCs would lose their primary dumping endpoint to retail crypto buyers in the West. There’s an urgency to both pump up prices now and to pretend that the SEC action is nothing.

Crypto influencers have aligned themselves with the agents that currently have the best shot at dismantling the US democracy. So this whole doom drivel is simultaneously a pumping activity and also a practical accelerationism. I guess the belief is that the new fascist world order is going to respect their Bitcoins for some reason, or at least that in the ensuing chaos Bitcoin will be a valued stable asset.

Yeah, I've noticed the same thing... The Bitcoin "hype machine" seems to be running at max right now, but there's no particular reason, it's not like we have trillions of QE again. They say it's the banking crisis, but that seems like a nothingburger as well... My only conclusion is that it has to be some kind of pump-and-dump related to imminent legal action.

They’ve already tapped the unsophisticated retail investors and get rich quick fools, going so far as to saturate ad space at the superbowl and buy stadiums. Perhaps the last pump they have left is to fleece the true believers. In the end it eats it own.