4 Threads: Tornado Cash, Privacy Coins, & More

Author

Basel ~
August 12, 2022

"Associate yourself with men of good quality if you esteem your own reputation; for 'tis better to be alone than in bad company." — George Washington

Gm frens.

Welcome to another dose of Psychedelic Toad where LinkedIn CEO bros get clowned for crying when firing people, and simultaneously buying a sea otter during a recession.

Here's what we got today:

  • 4 Threads of the Week

  • Other Tid-Bits

  • Meme of the day

4 Threads of the Week

1) You've probably already heard that the US Office of Foreign Assets Control has imposed new draconian restrictions this week on using Tornado Cash, a service that mixes potentially identifiable or "tainted" cryptocurrency funds with others, so as to obscure the trail back to the fund's original source.

The OFAC is the office in charge of administering and enforcing sanctions against high profile individuals including major international terrorists, drug trafficking kingpins, and the financial/political elite of certain countries deemed hostile to American interests.

Stablecoin issuers such as USDC have frozen their coins from being withdrawn, which has put the entirety of DeFi into question, as well as how decentralized it all really is.

This thread by @BowTiedIguana goes into the nitty-gritty of it all:

News also came out today that a 29-year old man in Amsterdam, suspected of creating Tornado Cash, has been arrested:

2) Continuing on the privacy theme, @0xfoobar put out a great thread on privacy in the crypto space, breaking down the various forms of privacy available today (TornadoCash, Monero, Zcash, Decred, Aztec Network, & SecretNetwork), and their importance for our present and future:

3) Phenomenal thread by @rektdiomedes on 10 things he's most bullish on for the next 10 years. This includes oil, stablecoins, crypto bros, homeschooling, and some other interesting ones:

4) Small thread on the insidiousness of Doom Scrolling by @proetrie, something we're all most likely both a victim and perpetrator of, whether it's Facebook, Twitter, Tik Tok, Instagram, or even Tinder.

Other Tid-Bits

LMAO

  • Some truly heartbreaking excerpts of letters from people who lost their money in Celsius. Article

Meme of the day

Until next time frens.

All my best,