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Welcome back to the BW3 newsletter, a fun yet witty read summing up Web 3’s latest events into one smooth email ⛵️ 

Here’s the shhhcooop today:

• Polymarket CEO was raided 🙃 

• Bitcoin and Microstrategy 📈 

• Coinbase + Bridge Make Onchain Easy 💯 

• Meme City 🌇 

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POLYMARKET CEO RAIDED BY FEDS 🙃 

Alright, y’all, we got a doozy for ya fresh off the heels of the major election. Here’s the lowdown on the latest drama rocking Web3: Shayne Coplan, the young CEO of Polymarket, recently had an early morning “visit” from none other than the FBI. 🔍️ 

Let’s break it down 👇️ 

Meet the Prediction Maverick: Shayne Coplan isn’t your average Wall Street executive – not even close. He’s more like a rockstar-turned-crypto-CEO, with his curly hair and devil-may-care attitude.

Polymarket, the prediction platform he founded, started as a grassroots effort. And it’s grown fast. Today, Polymarket isn’t just about everyday market predictions; it’s a platform where users can bet on real-world events like elections, creating a mix of finance, politics, and decentralized tech.

Picture Vegas-style gambling, but with the power of crypto and smart contracts, and you’ve got Polymarket. 🎰 

The FBI’s Dawn Raid: Now, fast forward to this month. Just as election predictions started rolling in, Coplan got a wake-up call that was a little more intense than his morning coffee: the FBI. Agents showed up in Soho, demanding his devices and turning his day upside down.

The reason? Polymarket had been making accurate calls on election outcomes, stirring up controversy by doing what many traditional sources couldn’t. For some in power cough The Deep State cough, this young upstart company had suddenly become a bit too influential.

Crypto and Political Predictions: Polymarket isn’t just some fly-by-night operation. By using the Polygon blockchain, the platform allows bets to be placed and settled in a way that’s tough for traditional authorities to touch. Smart contracts ensure everything is transparent and tamper-proof, sidestepping the usual regulations around gambling.

This tech-backed independence has made Polymarket a favorite among crypto enthusiasts, with predictions on everything from elections to celebrity gossip – and yes, those election predictions have been particularly accurate this cycle.

The Backlash and Community Response: As word of the raid spread, the crypto community lit up with outrage, flooding platforms like X with comments. Some called it a classic government “witch hunt” – a heavy-handed attempt to control a platform that was simply ahead of its time. Others speculated that this was just the beginning of a regulatory crackdown on decentralized prediction markets, especially now that Polymarket had shown just how powerful these tools could be.

What’s Next? The raid may have shaken things up, but Coplan and Polymarket aren’t going down without a fight.

The community’s rallying behind them, with many seeing this as a test case for the future of decentralized prediction markets and crypto freedom.

Is this the end of Polymarket’s rise, or just a new chapter in its story? Whatever happens, Coplan’s showdown with the FBI has solidified his status as a crypto maverick, and everyone’s watching to see how this standoff will shape the future of predictive markets.

So there you have it – a saga of crypto, government raids, and one CEO who’s determined to keep his platform alive. The world of predictions just got a whole lot juicier. 🧃 

BITCOIN HITS NEW ATH, MICROSTRATEGY DOUBLES DOWN ⏬ 

The crypto market’s going wild today as bitcoin rockets past $92,000, leaving naysayers in the dust and hodlers feeling like they’ve just hit the jackpot. Once the underground currency of tech enthusiasts, bitcoin has now barged into the high rollers' room, and the charts are looking hotter than a summer day in Death Valley.

MicroStrategy’s Mega Bitcoin Bet: Enter MicroStrategy, the company that has taken “corporate investment” to a whole new level. Led by Michael Saylor—the man who dreams in bitcoin—MicroStrategy just upped their already massive bitcoin stash with a cool $2 billion spent on another 27,200 bitcoins, bringing their grand total to a mind-boggling 279,000 BTC. That's right, folks, they’re holding more bitcoin than most small nations.

Crypto Community Buzz: On the social media front, reactions are split like a Thanksgiving wishbone:

• The Bulls: “MicroStrategy’s move is a big thumbs-up for bitcoin!” They’re calling this a milestone for mainstream adoption, seeing Saylor’s massive purchase as a ringing endorsement of bitcoin’s staying power.

• The Bears: “This is just fuel for the bubble!” The skeptics are rolling their eyes, warning that MicroStrategy’s aggressive accumulation is risky, tying the fate of the company to a volatile asset.

• The Analysts: Number crunchers are highlighting a curious detail: MicroStrategy’s market cap is sitting around $78 billion, which dwarfs the $25.6 billion in bitcoin they own. They’re questioning whether this valuation accounts for more than just the company’s bitcoin holdings—perhaps the “Saylor Effect” is at work here, adding a premium simply because of the CEO’s crypto conviction.

The Saylor Effect: Michael Saylor’s unwavering commitment to bitcoin has turned him into a crypto sage of sorts, with MicroStrategy’s stock practically becoming a bitcoin proxy. As bitcoin’s price rises, so does MicroStrategy’s stock, often outperforming even bitcoin itself. It’s as if the market views Saylor’s conviction as a bullish signal, amplifying the company’s value beyond its crypto stash.

Is This the Dawn of new Institutional Crypto? MicroStrategy’s big bitcoin buys could mark a turning point in corporate finance, where traditional businesses view bitcoin as the new inflation hedge, perhaps even the digital gold of the 21st century. By piling into bitcoin, Saylor is sending a message that corporate treasuries might have a new place for digital assets.

So, as bitcoin flirts with all-time highs and MicroStrategy digs its heels deeper into the crypto space, the big question remains: is this the beginning of a new era where companies adopt bitcoin en masse, or will this end as a cautionary tale in crypto overconfidence? Only time will tell, but one thing’s for sure: in the world of bitcoin, Michael Saylor isn’t just playing; he’s all in.

COINBASE + BRIDGE MAKE ONCHAIN EASY 💯

Hold onto your wallets, because we’re diving into a story straight out of the digital theme park. 🎢 

Coinbase, the heavyweight champ of crypto exchanges, has just shaken hands with Bridge, a fresh-faced startup aiming to make stablecoin transactions smoother than a ride on a freshly paved blockchain.

The Crypto Exchange Titan: Coinbase isn’t just another crypto platform—it’s the gold standard of exchanges. With its polished interface and Silicon Valley roots, Brian Armstrong’s fortress of finance is navigating the volatile crypto seas like a seasoned captain. Think of it as the Fort Knox of blockchain, where security is tight, and innovation is always on the horizon.

Enter the Stablecoin Bridger: Now meet Bridge, the scrappy newcomer with big dreams and even bigger tech. Helmed by Zach Abrams, who’s already seen the crypto landscape up close at Coinbase and Square, Bridge is here to build… well, a bridge. Not the kind you cross by foot, but a digital path allowing stablecoins to zip between blockchains with the ease of sending a text. Their goal? To make cross-chain stablecoin transactions fast, cheap, and accessible to the masses.

The Partnership Dance: When Coinbase and Bridge partnered up, it was like watching a tech power couple step onto the dance floor. Coinbase brought its vast network and impenetrable security, while Bridge provided the cutting-edge tech for rapid stablecoin transfers. This isn’t just a handshake—it’s a strategic alliance that could merge the might of a crypto giant with the agility of an upstart innovator.

The Wild West of Stablecoins: In crypto, where price swings can make a cowboy dizzy, stablecoins serve as the safe, steady currency. But moving them across blockchains has been anything but stable—until now. Bridge’s tech promises seamless cross-chain transfers, and Coinbase sees this as an opportunity to make its platform the ultimate crypto hub. Together, they’re aiming to bring stability to the wild west of stablecoins.

The Twitter Reaction: X (formerly Twitter) erupted with takes on this new alliance. Some are calling it a game-changer, a partnership that could pave the way for cheaper, faster transactions across the crypto world. Others remain skeptical, wondering if this is the start of something revolutionary or just another flashy venture. Is this the future of crypto or just another gold rush mirage?

Looking to the Horizon: This partnership has the potential to reshape the crypto landscape. Imagine every crypto exchange functioning as a global payment network, where stablecoins move seamlessly across chains, breaking down the barriers of traditional finance. It’s like giving every crypto user the power to send stable, cross-border payments instantly.

So here we are, watching Coinbase and Bridge saddle up to redefine the way stablecoins work. Will they usher in a new era of utility for stablecoins, making them as universal as cash? Or will this be just another chapter in the ever-sprawling saga of blockchain innovation? Time—and maybe the next big wager on Polymarket—will reveal if this partnership becomes the stuff of crypto legend.

MEME CITY 🏙️ 

Until Next Time Builders! 🏗️ 

Keep the keys safe and your dry powder sturdy. 🔑