# SBF Plays "Get Out of Jail Free" Card *The Rug's Mostly Credible Newsletter #7* By [The Rug](https://therugnews.com) · 2022-12-04 newsletter --- Letter From The Editor ---------------------- ![](https://storage.googleapis.com/papyrus_images/d8c302d4358254d2a2e018be4ec3af75.jpg) Dear spherical-viewing apparatuses, In the last few weeks we've seen some wild turns in crypto: SBF played a "Get out of Jail Free" card, flummoxing authorities, Bitcoin Maximalists [formed](https://twitter.com/TheRugNews/status/1594851263300132865?s=20&t=rvWf6kCeuSTIVRhYjqQx9w) a 501(c)3 tax-haven, DogeCoin slid into second place as the [next biggest](https://twitter.com/TheRugNews/status/1598875582388846592?s=20&t=Qbd2ZsJkz_Q91-rvih8OBg) PoW blockchain, and fiat billionaires _finally_ [exposed](https://twitter.com/TheRugNews/status/1596366974338355200?s=20&t=Qbd2ZsJkz_Q91-rvih8OBg) crypto! [At least](https://twitter.com/TheRugNews/status/1592966929924640768?s=20&t=rvWf6kCeuSTIVRhYjqQx9w) it can't get any worse than this. Plus 10 things you [could](https://twitter.com/TheRugNews/status/1593761539840000001?s=20&t=kBvY6E29PchgvG6pwP5BTg) have said at Thanksgiving to gaslight your family into forgetting you told them to buy ethereum at all-time highs. The Rug is in tip-top shape, vacuumed, dusted, polished and ready for an elegant living room floor. Perhaps the floor is in, meanwhile we [airdropped](https://twitter.com/TheRugNews/status/1592737930581512192?s=20&t=rvWf6kCeuSTIVRhYjqQx9w) Lil Ruggy to all The Rug Vol. I [collectors](https://therug.mirror.xyz/6hSdcsTvShGr0mwDXKVBovKWpiv7HfjYhbdLngvhoyc), knocked out a couple articles on [Mirror](https://therug.mirror.xyz/), and [shipped](https://twitter.com/TheRugNews/status/1598372955746144257?s=20&t=kBvY6E29PchgvG6pwP5BTg) **Vol II Issue 1** of our throwback newspaper-style NFT. You can [mint it for free](https://therug.mirror.xyz/Y7Z9D7c6XhZwGIRmYv8YL2NPmk0UIRU6F7hNvomj5Y4) on mirror for a limited time. These ain't no slashes folks. Buckle up. * * * But First, WTF is The Rug Newsletter? ------------------------------------- > The Rug is Web3’s mostly credible news source. We take money, seriously. **The Rug** is web3’s mostly-trusted news source. If NFTs are the future of ownership, we’re the future of satire.  Think _The Onion_, but we actually understand (and like) crypto. Our Newsletter publication includes: * The mostly relevant articles * The hardest hitting headlines * Behind-the-scenes podcasts * Throwback newspaper-style NFTs, and... * Much, much less All of the above we produce on a regular basis. The Rug's Newsletter is where you can catch them all in one spot, str8 to your inbox. Do [rug](https://paragraph.xyz/@therugnews/subscribe) a friend. * * * Articles ======== BREAKING — Dogecoin Slides Into Second Place -------------------------------------------- ![](https://storage.googleapis.com/papyrus_images/084302486ec0d36624d37d20106759f3.png) Honestly, nobody really can believe this. Elon purchased twitter effectively buying the microphone of the commons, and his spirit animal, Doge, slide into 2nd place on the charts. [In this article](https://therug.mirror.xyz/9f_8bc1RhiRGimCQb603WAVK7Xh8R2iAJ08SPFxGInc) [](https://therug.mirror.xyz/9f_8bc1RhiRGimCQb603WAVK7Xh8R2iAJ08SPFxGInc)by [Liquidiot](https://twitter.com/liquidiot) we try to understand the mentality of the doge-brain. _Backward cap crypto bros and meme slingers alike rejoice as Dogecoin secures its place as the right hand of the PoW throne._ Read the full article [here](https://therug.mirror.xyz/9f_8bc1RhiRGimCQb603WAVK7Xh8R2iAJ08SPFxGInc), and collect it on Optimism. TURKEY DAY — Top 10 Ways To Gaslight Your Family Into Forgetting What You Said About Crypto Last Thanksgiving ------------------------------------------------------------------------------------------------------------- ![](https://storage.googleapis.com/papyrus_images/8999cf3646e53eef8d00dc4cdb1e2b66.png) Apart from blaming it all on your evil twin - which Gemini could do if they were insolvent - you may need some practical advice for how to handle yourself around the dinner table during the holidays. **The Rug** got together to [hatch 10 tips](https://therug.mirror.xyz/t1oDWqiOsXYM2vke-ZWMthVBDx_ELFjZO7Zzkvrps9Y) for gaslighting your fam, _fam_. _5\. Be socially conscious, “I read online that this will be the last year for real turkey.”_ Read the full article [here](https://therug.mirror.xyz/t1oDWqiOsXYM2vke-ZWMthVBDx_ELFjZO7Zzkvrps9Y), and collect it on Optimism. BREAKING — Fiat Billionaire Finally Exposes Crypto -------------------------------------------------- ![](https://storage.googleapis.com/papyrus_images/0d056bb008e1d4e038344874d8270fa7.png) It's about time we all go crawling back to the central banks and the likes of Jamie Dimon will accept us with open arms. It's like the prodigal son, in reverse. [In this article](https://therug.mirror.xyz/JEce8SIFfLD93J6I5SBVfq6bmzug4bD0LtnhmLEicjc) by [Liquidiot](https://twitter.com/liquidiot) we look at the primary question in all transactions, "What's in it for me?" _As a gesture of good faith, Dimon offered those leaving crypto fancy Chase coffee mugs and a low introductory rate credit card, starting at 5%._ Read the full article [here](https://therug.mirror.xyz/JEce8SIFfLD93J6I5SBVfq6bmzug4bD0LtnhmLEicjc), and collect it Optimism. * * * Headlines ========= ### BREAKING — Authorities Flummoxed After SBF Plays "Get Out of Jail Free" Card We're all [jaw-droppingly amazed](https://twitter.com/TheRugNews/status/1598087396981342208?s=20&t=Qbd2ZsJkz_Q91-rvih8OBg) at SBF's quick-draw of the Get Out of Jail Free Card. Admittedly, quite a key play. After potentially defrauding his customers of [$4B](https://markets.businessinsider.com/news/currencies/ftx-crash-client-funds-alameda-binance-sbf-sec-cftc-probe-2022-11?op=1) worth of deposits, secretly transferred to his alter-ego Alameda Research, he had the audacity to [go on](https://www.goodmorningamerica.com/news/story/ftx-crypto-collapse-ceo-sam-bankman-fried-denies-94215046) Good Morning America and apologize. Apology _not accepted_ Sam. Unfortunately, you have this very nifty looking business card which we can do nothing about. [![User Avatar](https://pbs.twimg.com/profile_images/1459983921060335621/G7QEOxAZ_normal.jpg)](https://twitter.com/TheRugNews) [The Rug | Crypto News](https://twitter.com/TheRugNews) [@TheRugNews](https://twitter.com/TheRugNews) [![Twitter Logo](https://paragraph.xyz/editor/twitter/logo.png)](https://twitter.com/TheRugNews/status/1598087396981342208) BREAKING — Authorities Flummoxed After SBF Plays "Get Out of Jail Free" Card ![View image on Twitter](https://pbs.twimg.com/media/Fi13CjaX0AAaIbd?format=jpg) [![Like Icon](https://paragraph.xyz/editor/twitter/heart.png) 45](https://twitter.com/TheRugNews/status/1598087396981342208)[ 05:51 PM • Nov 30, 2022 ](https://twitter.com/TheRugNews/status/1598087396981342208) ### CULTURE — Wrapped Bitcoin Identifies as Bitcoin WBTC has always had a thing for BTC. They talk, they hang out, they even look a bit like one another. [![User Avatar](https://pbs.twimg.com/profile_images/1459983921060335621/G7QEOxAZ_normal.jpg)](https://twitter.com/TheRugNews) [The Rug | Crypto News](https://twitter.com/TheRugNews) [@TheRugNews](https://twitter.com/TheRugNews) [![Twitter Logo](https://paragraph.xyz/editor/twitter/logo.png)](https://twitter.com/TheRugNews/status/1597367227442860033) CULTURE — Wrapped Bitcoin Identifies as Bitcoin ![View image on Twitter](https://pbs.twimg.com/media/Fir9BrvWQAEdTn6?format=jpg) [![Like Icon](https://paragraph.xyz/editor/twitter/heart.png) 17](https://twitter.com/TheRugNews/status/1597367227442860033)[ 06:09 PM • Nov 28, 2022 ](https://twitter.com/TheRugNews/status/1597367227442860033) ### FEDERAL — Ross Ulbricht Worries New Cellmate May Tarnish Reputation Ross is a bit annoyed his new celly may tarnish his reputation, and with good reason. This reminds us of another headline, FreeRossDAO Bakes Cake with Private Keys Inside. #FreeRoss [![User Avatar](https://pbs.twimg.com/profile_images/1459983921060335621/G7QEOxAZ_normal.jpg)](https://twitter.com/TheRugNews) [The Rug | Crypto News](https://twitter.com/TheRugNews) [@TheRugNews](https://twitter.com/TheRugNews) [![Twitter Logo](https://paragraph.xyz/editor/twitter/logo.png)](https://twitter.com/TheRugNews/status/1595538004088594438) FEDERAL — Ross Ulbricht Worries New Cellmate May Tarnish Reputation ![View image on Twitter](https://pbs.twimg.com/media/FiR9W6pWYAAX3hj?format=jpg) [![Like Icon](https://paragraph.xyz/editor/twitter/heart.png) 21](https://twitter.com/TheRugNews/status/1595538004088594438)[ 05:01 PM • Nov 23, 2022 ](https://twitter.com/TheRugNews/status/1595538004088594438) ### FAITH — Bitcoin Maximalism Officially Qualifies As An Organized Religion Exempt From Taxes Well far be it from anyone to tell a devout religious group they can't shelter under a tax haven created by the US Government. Bitcoin Maximalists are apparently, no exception. The prospect of not paying taxes on all the bitcoin they use to exchange value with one another was too good to pass up. [![User Avatar](https://pbs.twimg.com/profile_images/1459983921060335621/G7QEOxAZ_normal.jpg)](https://twitter.com/TheRugNews) [The Rug | Crypto News](https://twitter.com/TheRugNews) [@TheRugNews](https://twitter.com/TheRugNews) [![Twitter Logo](https://paragraph.xyz/editor/twitter/logo.png)](https://twitter.com/TheRugNews/status/1594851263300132865) FAITH — Bitcoin Maximalism Officially Qualifies As An Organized Religion Exempt From Taxes ![View image on Twitter](https://pbs.twimg.com/media/FiIMxNSWYAI2cQq?format=jpg) [![Like Icon](https://paragraph.xyz/editor/twitter/heart.png) 12](https://twitter.com/TheRugNews/status/1594851263300132865)[ 07:32 PM • Nov 21, 2022 ](https://twitter.com/TheRugNews/status/1594851263300132865) * * * Under The Rug Podcast --------------------- ![](https://storage.googleapis.com/papyrus_images/b02a9873211c95d8a9628a78016ab215) * * * **Under The Rug** is a crypto-comedy podcast based on the hardest hitting headlines in Web3. In each episode a rotating cast of the comedians at The Rug get together to chop peanuts, craft jokes, and discuss things semi-crypto comedy related. [Here's an impersonation](https://twitter.com/TheRugNews/status/1595084690947457025?s=20&t=rvWf6kCeuSTIVRhYjqQx9w) of Michael Saylor. Our seventh episode is forthcoming in our next epistle, until then episode six, entitled, “[R](https://anchor.fm/therugnews/episodes/Under-The-Rug--Ep--6-Redacted-e1q0qfi)[edacted](https://anchor.fm/therugnews/episodes/Under-The-Rug--Ep--6-Redacted-e1q0qfi)" is still available, just like before. * * * OPEN MINT — The Rug Vol II. Issue 1 NFT --------------------------------------- ![](https://storage.googleapis.com/papyrus_images/9ef9857187777b29c206adf75c2f9192.png) ### The Open Mint Thanks to our partners at Mirror, we’re [proud to offer](https://twitter.com/TheRugNews/status/1598372955746144257?s=20&t=au_1sttzza7ggdMamm_qpA) [a limited-time open mint](https://therug.mirror.xyz/Y7Z9D7c6XhZwGIRmYv8YL2NPmk0UIRU6F7hNvomj5Y4) of our December 2022 NFT, minting from now through December 21st. It's pretty cool because we did our original collection on mirror so they offered us beta access to their 1155 mainnet contract which embeds smoothly into the article. The feature is supposed to roll out through front-end UX in the near future. This is the first issue of Vol. II and is a veritable landmark of sorts, one worth hodling in your wallet. Think of this mint as signing up to support satirical comedy in crypto. We aim to bring you the highest quality content on a regular basis, and have a small cohort of writers “shucking a lot of oysters” to unearth a few pearls for you on twitter every week. The Rug NFT is our flagship product, how we became known in the space, and where we see the artifacts of our efforts preserving the most collectible value. ### Vol 1 Background The Rug’s throwback newspaper-style NFT [began](https://therug.mirror.xyz/6hSdcsTvShGr0mwDXKVBovKWpiv7HfjYhbdLngvhoyc) in Nov of 2021, in the height of the Bull market. We shipped six issues straight back then, then we paused, reoriented our approach and goals, and are now starting up Vol. II. Some of our favorite headlines from Vol 1. include: **US Regulators Drop Lawsuit After Celsius Changes Name to Fahrenheit**, **Senator Warren Opposes Uniswap, Convenes Panel to Determine Why**, **64% of Adults Think Web3 is a Spiderman Sequel**, and **Solana Doubles Down on Decentralization, Buys 2nd Hard Drive**. Not to mention our eerily accurate prediction that **Bitcoin Found in Shoebox Outperforms 3AC** — a month [before](https://twitter.com/TheRugNews/status/1527106861996167168?s=20&t=kIoNXAmSYBl_u02Vn5xehg) they went under. * * * Calls to Action =============== * [_Mint_](https://therug.mirror.xyz/4_8pRZZ-qUOhK__QjZi7kysDC0gaf5wVYtadpmo4jQU) The Rug Vol II Issue 1 * [_Unhide_](https://therug.mirror.xyz/4_8pRZZ-qUOhK__QjZi7kysDC0gaf5wVYtadpmo4jQU) Lil Ruggy on OpenSea * [_Subscribe_](https://t.me/therugnews) to The Rug on Telegram * [_Follow_](https://twitter.com/TheRugNews) The Rug on Twitter * * * **Bonus Content**: _The Adventures of Lil Ruggy! written by Frank America and illustrated by Cosmic Clancy_ has been airdropped to all OG Vol. I NFT Collectors, with over 200 deployed across 150 unique wallet addresses. _Lil Ruggy_ explores the life of a rap phenom Lil Ruggy, and his journey through fortune and fame. Learn [about the making of](https://therug.mirror.xyz/4_8pRZZ-qUOhK__QjZi7kysDC0gaf5wVYtadpmo4jQU) the comic, or [check out the collection](https://therug.mirror.xyz/4_8pRZZ-qUOhK__QjZi7kysDC0gaf5wVYtadpmo4jQU) on OpenSea. Note: All _Lil Ruggy_ holders have been granted [discord lounge access](https://discord.gg/gw868bp4). ![](https://storage.googleapis.com/papyrus_images/e68a14d2d7c2034db37207064d60d03f.png) * * * **Sponsor**: Check out our [sponsorship deck](https://docs.google.com/presentation/d/1MlTo8BtojSu1tc2nyR6tbAoVRf3WNG0xePmiI7jBQ2k/edit?usp=sharing), and hit us up on [twitter](https://twitter.com/TheRugNews). **Value for Value**: If you enjoy our NFTs, articles, headlines, podcasts, or newsletters make one action and send what that is worth in ETH to [TheRugNews.eth](https://etherscan.io/address/0xa4c7aca8d49226355c5543a28c3de0573f66494a). We thank you in advance. --- *Originally published on [The Rug](https://therugnews.com/sbf-plays-get-out-of-jail-free-card-the-rug-newsletter-7)*