Sam Bankman-Fried provides bailouts, ‘Bitcoin dead’ searches soar, and debate over hidden themes behind BAYC continues: Hodlers Digest, June 19–25
SBF and Alameda step in to prevent crypto collapse contagion
Sam Bankman-Fried stated on June 20 that his firms Alameda Research and FTX would be stepping in to help companies with liquidity troubles amid the current bear market. Over the course of the week, Alameda dished out a loan of roughly $500 million to Voyager Digital, which is suffering from exposure to the potentially insolvent Three Arrows Capital, while FTX supplied BlockFi with $250 million worth of credit.
New video revives debate over Bored Ape Yacht Clubs alleged racist imagery
YouTuber Philip Rusnack, known as Philion, published a video this week on Yuga Labs Bored Ape Yacht Club nonfungible token (NFT) project, arguing that the team has embedded alt-right inside jokes, Nazi imagery and racist caricatures of Black and Asian people in the artwork depicted in the tokenized avatars. Such a notion has been a long-running conspiracy theory in the NFT community, and while many people laugh it off, others take the supposed evidence as gospel.