Bankless ROLLUP: Friend.Tech | SBF to Jail | SEC vs Coinbase
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Aug 18, 2023 Discover the rise of Friend.tech, a revolutionary app allowing users to buy shares in influencers. Unpack the legal troubles of Sam Bankman-Fried, who faces jail time for witness tampering. Explore the SEC's battle with Coinbase over regulatory waters and hear about the promising economic outlook based on the Atlanta Fed's GDP forecasts. Dive into innovations in Ethereum Layer 2 solutions and the importance of community-driven airdrop hunting. This episode is a fast-paced journey through the Bitcoin and crypto landscape, filled with insights and controversies.
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Friend.tech Fad?
- Friend.tech, a new app on Base, lets users buy shares of their friends.
- David Hoffman made 1.4 ETH from trading fees and plans to raffle them to shareholders.
Using Friend.tech
- Bridge some ETH to a Base wallet and connect your Twitter account.
- Buy shares of others, unlocking private chat rooms; prices rise with demand.
Ponzi Games vs. Schemes
- Ponzi games, unlike schemes, are collective games of chicken with agreed-upon rules.
- Friend.tech's share trading, while resembling a Ponzi game, has potential utility.
