Welcome to Week in Crypto Drama #5! This weeks biggest news was not strictly crypto related, but as the CT seemed to be the only cohort who got the meme, it still qualifies. Elon Musk made an official bid for taking Twitter private, at a price of $54.20 per share 🌿. Now we need a competing offer from a DAO and figure out whether this is the peak troll or Elon’s third long term play.

Meta is entering the NFT space and decided that Ethereum fees are too low. You indeed do need pretty competitive rates to succeed. And clearly the good old web2 30% is NGMI.

But NFT’s are not even worth much. You loose like 0,9999% with your trade. Yes, I know this is just a picture of a tweet. But even punks floor has dropped to mere 66 ETH. For some strange reason. And you’re likely to get rugged by an influencer with a boxing career or an influencer without one.

So you’re better off just buying shitcoins from Clownbase. It is however preferable to work there, so you could have some alpha and lock in those monthly bonuses. Or you could follow Kyle to be part of the greatest dumps in history.

On serious news, some Americans decided to class action Uniswap. Because they would definitely not have invested in Rocket Bunny if disclosures were in place. Some other Americans decided that only rich deserve yield.

In our section of Animals in Crypto we learn about Elephant Status, and their 11MUSD flashloan attack. And that the only persons on earth who would want to steal 600 MUSD from cute Axies are indeed the North Koreans.

Although the Ethereum mainnet shadow fork was a success the long waited merge is not gonna happen in June. Ethereum Foundation coordinator gives some details on Unchained.

That’s it for this week, enjoy the weekend 🍹