Cryptonite Nov-Dec 2021

Shenanigans in the cryptoverse.

Its time for Cryptonite - our monthly roundup of all things crypto - with Tejaswi Nadahalli.

You can follow Tejaswi on twitter @nadahalli and he blogs at tejaswin.com

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The crypto scene keeps getting more and more bizarre. A bunch of people got together and tried to buy a copy of the constitution…

… but in a plot that would make a Bond villain proud, Ken Griffin swoops in at the last minute and out-bids the degens.

Dare Obasanjo @Carnage4Life

ConstitutionDAO falls into chaos as people realize gas fees will wipe out their donations if they ask for a refund and the $PEOPLE governance token is worthless as the core team plans to mint a new token as they didn’t win the auction for the constitution.

vice.com‘Buy the Constitution’ Aftermath: Everyone Very Mad, Confused, Losing Lots of Money, Fighting, Crying, Etc.ConstitutionDAO tried to buy the Constitution. Now it has a $40 million mess on its hands and entire refunds are being wiped out by high fees.

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The President of El Salvador unveiled a plan to build a ‘Bitcoin City.’ It involves a $1 billion bond offering. Half of which will be used to build the “city” and the other half to buy bitcoins.

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Indian mutual fund managers are not above a little bit of grifting. A Blockchain Index Fund of Funds (FoF) that doesn’t invest in any crypto exchanges/companies/tokens/assets, anyone?

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We also discussed Proof-of-Work vs. Proof-of-Stake. Coinbase has a good explainer.

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See you in January 2022. Happy New Year in advance!