February Halftime Thoughts

Razzlekhan

Razzlekhan, or the girl who stole $78 million in Bitcoin from a crypto exchange in 2016, just got caught. She was just laundering the money but yeah she finally got arrested I would assume. They are now doing a Netflix show on this hack, which most won’t really watch because they won’t know to watch it.  This girl has top level elite swag and the government let them basically have the Bitcoin until now. The $78 million or so they stole, over time it went up to $3.6 billion in Bitcoin now, so the government is officially a whale. “Whales” are people or companies with large amounts of a Bitcoin. The girl has lots of Martin Shkreli vibes and was even doing rap videos online and just was cringe to the max. It was awesome news knowing the government was able to get the money back for that exchange, if only there was a 1-800 number for lost crypto for average people. With crypto pumping up slightly recently this week, the government coming out saying they can get stolen crypto back, it’s looking good for crypto coins and tokens going into Super Bowl weekend.

Super Bowl

I watched half of the Super Bowl and then the halftime show. The Rams won; they had crypto ads like everyone said there would be. The most controversial one being the coinbase ad, it looked like it worked for as stupid as it was. Just a floating QR code to a link to coinbase. There weren’t any ads for single coins or tokens though, like Solana or Ethereum didn’t have an ad. The exchanges did and the coinbase one might pump the stock tomorrow but for crypto, but Bitcoin or Ethereum didn’t magically pump further up in price. I watched the game over at my parents here in Connecticut, it started snowing a lot during the game. By the time it was for me to leave the roads were covered in snow and snowing like a blizzard. One common thing people do though is watch the Super Bowl for just the commercials. The halftime show was hip-hop this year; Dr. Dre, Snoop Dogg, Kendrick Lamar, Eminem, & 50 cent.

I didn’t really think it was that good, but my sister did. I guess because maybe I just get into different music artists now compared to 20 years ago. When Nelly did the halftime show years ago, I liked that but grown up I don’t vibe out to 50 Cent or Eminem anymore. I wanted to see Joe Burrow win but also didn’t mind if the other team won. The FOMO, (Fear Of Missing Out), that might have happened for others who don’t have Bitcoin might have got then to finally buy some. Then the cryptocurrency haters who think it’s a scam probably got mad from the Super Bowl ads.

Wormhole Hack

There was also another major hack on crypto but this time instead of it being from years ago, it was recent. With quick law enforcement action somehow, they got it back. With blockchains, the transfers are public so government agencies can see where the stolen money goes. They even sometimes just ask the criminals to send it back. This hack was around $300 million and from what I understand you can’t just transfer your stolen $300 million in Ethereum into Tether or USDC (stablecoins). Moving hundreds of millions of dollars’ worth of crypto is still hard to hide because we would have just heard how the criminals go away instead of seeing how they got the money back. This hack was still the 4th largest hack of all time and that Razzlekhan girl in the start of this blog being the number one of all time. This hack though it did seem like these thieves got away, they offered them $10 million to return it. Just for some reason the Razzlekhan girl can get caught since it’s Bitcoin but if it’s Ethereum or something else too bad I guess.

The hack happened on a bridge protocol, from what I understand, it connects Solana and Ethereum. Solana is a major crypto, it’s probably going to stay around for long term. I think around 50-100 top cryptos stick around for long term and it’ll just a market for most rather than different currencies. That’s what has become of crypto coins and tokens. Branding, the ole fashion American marketing, just a with a flavor of web3 this time.

Be a nice human.

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