Degen

Cryptopunks in exchange for a short 🤔

Imagine you’re a young guy who buys yourself 2 pristine Cryptopunks for ~104 $ETH, but after a month of holding, you dump them at a -35.5 $ETH loss, all for the sake of shorting $BTC. The question is—are you okay?

Gamer, philanthropist, socialphobe, playboy, and just a nice guy.

What adds to the amusement is that, apparently, he was in such a rush to get to his casino that, while selling the punks, he first wrapped them in some new "wrapper," realized Blur didn’t support it, went back, unwrapped them, and re-wrapped them in the right one before finally selling. Something like that.

Sold and sold, it happens, right? Well, it’s all about the motive. The old-timers, who’ve practically grown roots in the Cryptopunks community, were absolutely floored when they found out this guy took the proceeds and went all-in on a 3.5x leverage $BTC short on Hyperliquid. Pure degeneracy, the likes of which the Cryptopunks elite had never seen before.

Last night, the Cryptopunks community was hit with a wild story. A young holder, who back in late January picked up a couple of punks—numbers 8619 and 4673—dropped around $330,000 USD on them. And "today," he offloads them at the floor bid, locking in a loss of ~$100,000. You’d think, okay, maybe they were just regular punks, but no—he specifically went for special traits, overpaid for them, and now this cascade of events.