Daily Degen 2022 June 19 🦍📓

1/ MIM losing its peg

The DeFi Edge 🗡️ @thedefiedge

$Mim having issues maintaining its peg. Tread carefully. It's +EV to get out when there are peg issues.

Autism Capital 🧩 @AutismCapital

We have a scoop from one of our associate autists: MIM (Magic Internet Money) may be nearly insolvent. MIM is one of the larger stablecoins, with a market cap of ~$300M. We can't believe that a project called Magic Internet Money has been acting irresponsibly either. Details:

2/ @0xQuit with the fun fact of the day

quit @0xQuit

Fun fact: 48 days ago @yugalabs raised 16,780,495 $ape from the otherside land sale. At around $20/$ape at the time of sale, the raise was $335m. Tax owed on the sale is upwards of $124m. The $ape is locked for one year, and is now worth $53m, a net loss of 71m.

3/ @nic__carter on crypto getting dunked on by MSM while our economy is in shambles

nic contagion carter @nic__carter

crypto haters absolutely euphoric right now, dunking - economy is headed for recession/depression - mortgages unserviceable - global energy/food crisis - 60/40 portfolio ruined - sovereign debt crisis - inflation rampant - consumer confidence ATL and they're celebrating

4/ FUD FUD FUD

Watcher.Guru @WatcherGuru

JUST IN: #Ethereum falls under $900 for the first time since December 2020.

Watcher.Guru @WatcherGuru

JUST IN: The total value locked in #DeFi is down 70% from its December all-time high.

Watcher.Guru @WatcherGuru

JUST IN: The global #cryptocurrency market cap has dropped below $885 billion.

5/ Best bear market memes compiled by @d0mPablo

Dom 🐻⛓ @d0mPablo

A THREAD 🧵: Random bear market memes for our internet coins #Bitcoin #Ethereum