Top crypto tweets of the day – December 8th

My one-sentence summary of the AI right now is that it does amazing stuff but it has a high error rate.

This is why it both impresses and frustrates: the times it does really well go viral on twitter, the times it makes a mistake frustrate people using it as a work aid.

— vitalik.eth (@VitalikButerin) December 7, 2022

A particular tragedy that is totally not the @OpenAI @StableDiffusion and co builders’ fault, is that people’s expectations (including my own) get set by the dazzling stuff that goes viral, and its average case performance inevitably can’t match that.

— vitalik.eth (@VitalikButerin) December 7, 2022

BREAKING‼️ FTX founder under investigation for market manipulation that led to collapse of TerraUSD (UST) and Luna — to the benefit FTX and Alameda Research.

🤔

— Bitcoin Archive (@BitcoinArchive) December 8, 2022

According to Elliptic, after Tornado Cash was sanctioned by the US OFAC, there are still six similar potential competitors on Ethereum: RAILGUN, Buccaneer V3, White Ethereum, 0xTIP, Messier 87 Black Hole, and Cyclone Protocol. https://t.co/hS0tImpBsR

— Wu Blockchain (@WuBlockchain) December 8, 2022

The current total mixed volume of these six products is only about 41.5 million US dollars, which is about 0.6% of Tornado Cash, of which only 40,000 US dollars involves hacker funds. Most of these protocols are based on forks of Tornado.

— Wu Blockchain (@WuBlockchain) December 8, 2022

BREAKING: Binance #Bitcoin reserves are fully collateralized, following proof-of-reserves and proof-of-liabilities verification by audit firm Mazars – The Block 🤔

— Bitcoin Archive (@BitcoinArchive) December 7, 2022

pic.twitter.com/zoGLNzmLSR

— db (@tier10k) December 7, 2022

Crypto-friendly Company Signature Bank (SBNY) will shrink its deposits tied to cryptocurrencies by $8 billion to $10 billion. Circle added Signature as its leading financial institution for USDC reserve deposits in April of last year. CoinDeskhttps://t.co/nw8jEKZXvj

— Wu Blockchain (@WuBlockchain) December 8, 2022

On December 6, 10,000 WBTC (worth about 170 million U.S. dollars) were destroyed in a single day, a record high. A large amount of WBTC on the website is redeemed for BTC. Currently WBTC/BTC is around 0.9984. https://t.co/r4ZlJ7ZVEZ

— Wu Blockchain (@WuBlockchain) December 8, 2022

Can any #DeFI protocol speak of decentralization if it has a CEO? It’s against the ethos of crypto in my eyes. #Sushi as an example. Their CEO is doing quite a fine job trying to justify his salary next year (see next tweet).

Governance & crypto don’t really mix well. pic.twitter.com/UhfjyJZZNO

— Duo Nine ⚡ YCC (@duonine) December 8, 2022

Yep. https://t.co/q7UKo4zDv1

— Duo Nine ⚡ YCC (@duonine) December 8, 2022

JUST IN: 🇪🇸 Bank of Spain announces plans to launch an experimental CBDC program.

— Watcher.Guru (@WatcherGuru) December 7, 2022

Over the last 365-days, a total of $213B in Realized Loss has been locked in by #Bitcoin investors.

This compares to yearly Profits of $455B realized in the 2020-21 bull.

This reflects a relative capital loss of ~47% of the bull market gains, similar in scale to the 2018 cycle. pic.twitter.com/y5jaSWEZ83

— glassnode (@glassnode) December 8, 2022