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The public channel had more than 109,000 subscribers, Judge Hui said. Ng had the power to remove or amend the messages in the channel, but he “allowed them to exist.” Co-founder of NFT renting protocol Rentable World emiliano.eth shared the group Tuesday morning on Twitter, calling out the "degenerate" community, or crypto obsessives that engage in high-risk trading. Choose quality over quantity. Remember that one high-quality post is better than five short publications of questionable value. Earlier, crypto enthusiasts had created a self-described “meme app” dubbed “gm” app wherein users would greet each other with “gm” or “good morning” messages. However, in September 2021, the gm app was down after a hacker reportedly gained access to the user data. Just at this time, Bitcoin and the broader crypto market have dropped to new 2022 lows. The Bitcoin price has tanked 10 percent dropping to $20,000. On the other hand, the altcoin space is witnessing even more brutal correction. Bitcoin has dropped nearly 60 percent year-to-date and more than 70 percent since its all-time high in November 2021.
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