Aliens, Barbie, Dismemberment, Arthur Hayes – Just Another Crypto Weekend

Good ol' Monday has swung around again - the universal signal for "Back to the Office" and "Why isn't coffee available in IV form?" As you drag yourself out of weekend mode and into the workweek hustle, we've got something to lighten your load - your daily dose of crypto news. So let's dive into another manic (but hopefully magical) Monday in the world of blockchain and digital assets. Buckle up, it's about to get interesting! As ever, if you’re here from a friend, subscribe now.

When it comes to the weird and wonderful, the crypto industry never fails to disappoint. Whilst many of you may have been getting your pink on to embrace the latest Barbie bonanza, things are less fantastic behind the scenes, crypto-wise. Margot Robbie, who stars as the titular plastic character, has caused controversy by comparing Bitcoin to Barbie's companion, Ken and his "Big Ken Energy."

Famed entrepreneur Michael Saylor endorsed the concept of "Big Ken Energy" but Layah Heilpern interpreted the term as being "weak and pathetic."

#Bitcoin is Big Ken Energy. pic.twitter.com/ExFOGXsuJ9
— Michael Saylor⚡️ (@saylor) July 28, 2023

When Margot Robbie said you’re a Ken if talk #bitcoin

She meant you’re weak and pathetic. This was not a good thing 🤣
— Layah Heilpern (@LayahHeilpern) July 29, 2023

Could be worse though, as crypto influencer Fernando Perez Algaba has sadly found out. According to reports, Algaba was found murdered and dismembered in Buenos Aires. His legs and forearm were discovered in a red suitcase by a stream, with another arm found later in the water. The autopsy revealed Algaba was shot before being dismembered. Algaba, who was identified through tattoos and fingerprints, was allegedly killed over debts.

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A post shared by Fernando perez algaba (@fernandoperezalgaba)

It's not just the Barbie crew which has aped into crypto convo this weekend either. In a new blog post, BitMEX co-founder Arthur Hayes argued that traditional company structures are not suitable for AI entities and propose. Instead, Hayes believes AI will organize itself using smart contracts on public blockchains. DAOs would be able to conduct economic activities transparently and enforce contracts without the need for human intervention and certain DEXs will become natural monopolies in the AI-powered economy.

If AI doesn't do it for you, perhaps aliens will. Following recent testimonies from former government employees regarding a US cover-up about unidentified aerial phenomena (UAP), CoinDesk has now proposed an alien-crypto link. According to the publication, cryptocurrencies could be essential for space exploration and colonization of other planets, where traditional governance is not feasible.

Elsewhere:

Japan Blockchain Association Requests Crypto Tax Reform: JBA has submitted a request to the government for crypto asset tax reforms. JBA has proposed three suggestions: Eliminating year-end unrealized gains taxation on third-party issued tokens, changing the taxation method for individual crypto asset transactions to a uniform rate of 20%, and eliminating income tax on profits when exchanging crypto assets.
Alchemy Pay Partners With Checkout.com: Singapore-based fiat-crypto payment gateway Alchemy Pay has partnered with UK-based payments solutions provider Checkout.com. The partnership will integrate Visa and Mastercard channels into its on and off-ramp to support transactions between fiat currency and cryptocurrency worldwide. Alchemy Pay also plans to integrate NFT Checkout in the future.
Curve Exploit Leaves $100M+ Worth of Crypto at Risk: Curve Finance has suffered an exploit due to a "re-entrancy" bug in the Vyper programming language. Around $100 million worth of cryptocurrency is now at risk, with the bug affecting several stablecoin pools on the platform. Preliminary losses are expected to be over $42 million. Curve DAO's native CRV token is down 17%.
Wintermute Co-Founder Moves to Singapore, Expands Headcount: Wintermute is strengthening its Asia focus by relocating 4% of its staff to Singapore, including co-founder Yoann Turpin. The London-originated market maker already established its Singapore office in 2021 and is also considering Dubai for a potential third office.