AzukiDAO Suing Zagabond? ⚖️

GM. This is Degen Scoop. It’s a new week, here’s the scoop:

• AzukiDAO Suing Zagabond? ⚖️

• Kraken Turning in Info to IRS 🧾

• Hong Kong Creates Web3 Task Force 🇭🇰

• Whale Moves 🐋

• Threads You CAN’T Miss 🧵

AzukiDAO Aims to Undo Damage From Elementals Mint

At the time of this writing, there is a governance proposal undergoing voting that seeks to right the wrongs of the Azuki Elementals mint. You can find the vote here, but we’ll lay it out for you in today’s newsletter. Last week, we touched on the disappointment that minters felt after the mint, but Azuki holders have taken it a step further with this proposal.

The most notable motions from this proposal are that AzukiDAO will be hiring a lawyer to sue Zagabond for rugging past projects and a proposed refund of 20,000 ETH that will be returned to the DAO and utilized to promote the Azuki ecosystem. This is the most serious move holders have made in response to the mint. Voting has ended and won with overwhelming support, now to see if anything comes of it.

Kraken Forced By Court to Give User Account Information to IRS

Kraken has received a court order to hand over account information about its users and their transaction history to the IRS. The IRS first filed a petition to obtain this information back in February of this year. We at Degen Scoop advise readers to be honest about their crypto earnings and do their homework. Do not forget that there is no statute of limitations for tax fraud in the United States. They got Al Capone and they will get you.

Kraken must give up account information of users that transacted more than $20,000 worth of cryptocurrency. Alongside all of your personal information, Kraken must also provide blockchain addresses where deemed necessary. While the IRS didn’t receive all of their requests, what they will be provided with will be exhaustive and will show who was honest and who was not.

The Government of Hong Kong Creates Web3 Task Force Focused on Development

Obtained from an official media release, Hong Kong will be creating a Web3 task force to promote development in this market sector. It would seem that Hong Kong is beginning to become a very crypto-friendly location. Just last week we saw their largest bank, HSBC bank, allow the trading of crypto ETFs.

In the release, they noted that crypto “has the potential to solve many difficulties and pain points encountered in finance, trade, business operations and even day-to-day life.” Clearly their government recognizes the potential of what can be and the promise that blockchain holds. Builders continue to build every day which create the usecases that nation states will want want to utilize.

Notable NFT Sales Over the Weekend:

Notable Threads You May Have Missed:

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Conclusion

Touch grass, hit the gym, and don’t forget about what’s really important outside of magical internet coins.

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DISCLAIMER: This newsletter does not constitute financial advice. This is strictly educational and should not be used to make any financial decisions. Be responsible and do proper due diligence before aping.