Bitcoin is Crashing and Burning: What Next?

July 25. 2022. 7 mins read

Web 3.0 is turning out to be an absolute mess. Someone named otterooo (that’s all anyone knows about him) is on Twitter accusing a cryptocurrency exchange that operates in over 200 countries, KuCoin, of being insolvent. In response, the CEO is posting on the company blog his conversations with otterooo (translated from Mandarin) along with screenshots of otterooo offering to sell his Twitter account for $50K “because all the gigachads follow him.”

Screenshot of the CEO of KuCoin posting on the company blog his conversations with otterooo
Credit: KuCoin

It’s almost like a bunch of high school kids decided to go play capitalism and their classmates invested their parent’s life savings in all the “business models” that were concocted over a bowl of chronic. Whenever a CEO uses the acronym FUD (fear, uncertainty, doubt), he’s not a leader, he’s just a one-eyed man leading the blind through his rendition of the Web 3.0 cult which – just like in high school – has its own lingo you need to use to show affiliation. Ngmi.

The Crypto Crash of 2022

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