There are a lot of shady characters out there Crypto Twitter. They come in all shapes and sizes. Covered: Voyager And Alameda Agreement Crypto Twitter’s Bad Actors Voyager And Alameda Agreement Questioned Voyager annoucned this week that Alameda Research had extended a credit line to them to help them deal with the fallout of their […] The post Voyager, Alameda, And Why You Shouldn’t Believe Everything You Read On Crypto Twitter appeared first on CryptosRus.

Voyager, Alameda, And Why You Shouldn’t Believe Everything You Read On Crypto Twitter

There are a lot of shady characters out there Crypto Twitter. They come in all shapes and sizes.

Covered:

  • Voyager And Alameda Agreement
  • Crypto Twitter’s Bad Actors

Voyager And Alameda Agreement Questioned

Voyager annoucned this week that Alameda Research had extended a credit line to them to help them deal with the fallout of their incredibly risky involvement with Three Arrows Capital (3AC). As we outlined, the money agreed upon lined up nicely with what they lent out to 3AC. However, it appeared like that agreement may not have been as cut and dry as it seemed.

A Crypto Twitter (CT) “investigator,” who goes by the name Otterooo, wrote a thread about what he found after looking over the agreement between the two parties. “To anyone still hopeful that the “bailout” would make a difference in the liquidity & solvency issues to Voyager and possibly any other CeFi lender that SBF comes riding to the rescue to Please stop smoking hopium and go withdraw your money before you get real hurt,” Otteroooo said.

“This [sic] “bailout” conditions are so onerous, that it has till now not solved the underlying problem of Voyager…” Otteroooo noted. Specifically, the onerous conditions he’s referring to revolve around what Voyager must do to receive the credit line from Alameda. They are as follows. 1) Provide a letter of good standing from each state it’s allowed to operate in. 2. Their loan to 3AC cannot default. (Note I simplified these, but click here for the exact terms)

Problem is, the conditions are hardly onerous. The letter of good standing is something most states make available online, the cost is minimal (varies by state), and most times it’s available within 24 hours. However, Otteroo tried to point out that this would mean they have to do that for any territory in the world. However, that also proved to not be true.

There were other holes in his analysis (like the difference between 3AC going insolvent and Voyager bringing their loan to default), but for the most part, Otteroooo didn’t even bother engaging with anyone one on one. Save for this tweet: “to all the paid shills and google-to-be-lawyers claiming that issa all b0iLeRpL@Te please read the sentence which includes THREE ARROWS CAPITAL in the second image carefully.”

Recommended: Voyager Exchange Announces Withdrawal Limit

Crypto Twitter’s Bad Actors

CT gets a lot of scrutiny for having paid shills. Which is fair. There is definitely a lot of payola going around. Most of the time it’s obvious when some obscure altcoin starts getting mentioned alongside the likes of ETH and ADA.

But there’s another type of bad actor that doesn’t get nearly enough scrutiny. Let’s call them ‘turfs (as in astroturfs). For those unfamiliar, astroturfing refers to anything that is presented as real but it’s actually not. In crypto, they often criticize projects aggressively out of the kindness of their own hearts.

To be fair, sometimes they do good work. But other times they are sloppy, and sometimes intentionally so. They also don’t seem to respond much to criticism either, opting to respond to those agree with them. Suffice it to say, it’s fishy.

That’s not to say Otteroooo is one of these ‘turfs. The only takeaway here is be careful what you read on Twitter be it positive or negative. It can be really easy to assume negative coverage is authentic because the motivation to lie to you isn’t as obvious as when it comes to shilling a memecoin. And, you wouldn’t be the first one to fall for it.

Just don’t be that guy, and believe everything you read on CT.

Recommended: This Is How Celsius Survives Insolvency

The post Voyager, Alameda, And Why You Shouldn’t Believe Everything You Read On Crypto Twitter appeared first on CryptosRus.