ChatGPT creates a meme coin
.@rhett used ChatGPT to create a meme coin from scratch a few days ago
— Loopify ?♂️ (@Loopifyyy) May 3, 2023
Naming, branding, coding the smart contract, crowdsourcing funds and launching…
It currently sits at a $31M market cap. pic.twitter.com/smoaYhPCpf
FTX’s 890,000,000 SUI token would have been worth over $1 billion
FTX estate sold 890,000,000 SUI token warrants back to Mysten Labs for $96 million last month
— Tracy Wang (@0x_tracy) May 3, 2023
It was chalked up as a win because Mysten was buying it back close to the $101m FTX paid
At SUI's current $12.8bn FDV, the tokens (8.9% of total supply) are worth ~$1.1 billion ???…
Yes, FDV is an inflated metric and this was meant to be a bit of a shitpost
— Tracy Wang (@0x_tracy) May 3, 2023
but Mysten launching $SUI at $10bn+ FDV just three weeks after their sweetheart buyback deal with JJR is finalized is pretty chad
the devil works hard
but a venture-backed crypto project launching a…
Market Makers are holding 75% of the Sui token
Looks like #SUI has allocated ~4% to MMs
— Alex (@thiccythot_) May 3, 2023
400mm additional tokens added to the circulating supply
initial public circ is ~200mm due to OKX, Kucoin vesting
??
75% of the circulating supply is held by MMs who need to sell to hedge their options
??
⚠️Bid At Your Own Risk⚠️ pic.twitter.com/NNIipFuWVz
66%
— Alex (@thiccythot_) May 3, 2023
Sorry I can't do math
Source is here: https://t.co/RY2tL6cuAq
apparently it was only updated within the last 12 hours with the mm allocation
it should have been done much sooner but props to @binance for disclosing because nobody else wanted to
Sui perpetual futures trading is not launching soon
Exclusive: the SUI official team requires the cooperative exchanges (Binance OKX Bybit KuCoin, etc.) not to launch the perpetual contract when the SUI token is launched. At present, the major exchanges temporarily meet this demand, and the launch of future may be delayed for a… https://t.co/2XGA75MmiV
— Wu Blockchain (@WuBlockchain) May 3, 2023
CZ says he never really understood meme coins
CZ: I personally never really understood meme coins. But if a coin has a lot of users trading it, wanting it, playing with it, etc., then we’ll most likely list it. If the coin only lasts for two weeks, then we probably won't.
— Wu Blockchain (@WuBlockchain) May 3, 2023
Read more: https://t.co/UZX4PjQgWx
US presidential candidate Kennedy condemns 30% tax proposal on crypto mining
Cryptocurrencies, led by bitcoin, along with other crypto technologies are a major innovation engine. It is a mistake for the U.S. government to hobble the industry and drive innovation elsewhere. Biden’s proposed 30% tax on cryptocurrency mining is a bad idea. ?
— Robert F. Kennedy Jr (@RobertKennedyJr) May 3, 2023
BRICS is working on developing a “new currency”
BRICS is working on developing a “new currency” that will be presented at the organization’s upcoming summit. pic.twitter.com/S9muVPvYMe
— Wall Street Silver (@WallStreetSilv) May 3, 2023
