GM. This is the Milk Road. The daily newsletter that mixes the latest crypto news with top-tier memes for some sweet, delicious flavor.

We're the Arnold Palmer Iced Tea of Crypto. And we're Lite on the calories too.

Here's what we got for you today:

• FTX execs are snitching on Samuel

• Quick Bites

• Milky Memes

FORMER FTX EXECS ARE SNITCHING ON SAMUEL

Ladies & gents, I hate to say it but...

The FTX/Alameda Saga is back.

And it's getting spicier than Taco Bell's Fiery Hot Ghost Pepper 🥵.

Here's the latest news:

• Caroline Ellison & Gary Wang have pleaded guilty to fraud 

• Gary pleaded to four charges (including wire fraud and commodities fraud) & faces up to 50 years in prison

• Caroline pleaded to seven charges (including wire fraud, commodities fraud, and money laundering) & faces up to 110 years in prison

• They are both cooperating with prosecutors to get charges dismissed (aka they're tattletaling on Samuel)

• Both have been given a $250k bail & must surrender all travel documents (sorry, no quick getaways to Fiji)

That's right. Caroline & Gary are spilling the milk.

Here are a few things they've told prosecutors so far:

1/ Samuel has been completely lying on his media tour (I'm just as shocked as you are)

2/ Samuel told Gary Wang to build the backdoor from FTX to Alameda so he could sweep funds

3/ Samuel directed Caroline to send customer funds from FTX to Alameda in exchange for FTT (FTX's made-up internet money)

4/ Even after naming Caroline & Sam Trabucco as Co-CEOs of Alameda back in 2021, Samuel was still running the show

Translation: Samuel made me do it

And just like that, the Samuel x Caroline soap opera takes another crazy turn.

From former lovers --> snitching on each other to get out of jail. A true crypto love story.

Oh, by the way, Samuel also got extradited back to the U.S. And man, does he look rough.

5 days in jail and he already looks like a hardened criminal - Samuél Escobar.

Here are some of the best reactions from Twitter:

Who wore it better?

TODAY'S EDITION IS BROUGHT TO YOU BY DESO

Do you feel it?

There’s been a vibe shift on social media.

Elon Musk is banning anyone who speaks against him. Facebook and TikTok are collecting our data like they’re infinity stones.

Social Media is run by centralized companies using our content and personal data to make money. And people are getting tired of it.

We need social media platforms where we control our audience and our data.

Introducing DeSo - a new layer-1 blockchain built from the ground up to decentralize social media, and scale storage-heavy applications to billions of users.

Here’s why DeSo is different than web2 social platforms:

• 100% of all code & data are completely open. All posts and social graphs on DeSo are stored directly on-chain

• Data is available to everyone. No more monopolization of data from companies like Facebook, Twitter, etc

• Creator coins let your followers invest in you and make money as you become more popular

• So far, there have been over 1.7m wallets created, $1.4b in total txn volume, and 73m+ transactions on DeSo

• Oh, and it was recently listed on Coinbase

Claim your username today.

QUICK BITES

Brazil passed extensive crypto regulations into law, including allowing citizens to make payments in Bitcoin. 

Uniswap DAO members voted yes to a new governance process that will prioritize on-chain over off-chain votes.

A law enforcement officer's body cam exposed a man’s seed phrase during his arrest in a video that's gone viral.

MILKY MEME

That's a wrap for today. Stay thirsty & see ya tomorrow! If you want more, be sure to follow our Twitter (@MilkRoadDaily)

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VITALIK PIC OF THE DAY

DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research.