Cryptonauts, we love you!!!  all through the wintry night!!  &  it was love at first sight for the cutting-edge Publish0x, and the crypto love evangelizing Publish0x community!!! Keep on keepin on waving the flag of freedom, mes amis, fighting the corruption of fiat printers.  Let's hold hands and speak truth to power against the waves of disinformation & brainwashing pouring forth from the financial industry machine!!! Time, time, time is on our side yes it is, mes amis.....

Crypto is hurting, which means PLENTY of negative crypto headlines - but not much news!!!  AND ALMOST NO EDUCATION!! Here's a fine specimen in the agony aunt tax advice column. Can I claim back tax on my digital losses? 

The story: a reader has NFTs and crypto, number went down, can he haz tax losses now plz?  Geoffrey speaks to us like a child.  Currently NFT's = crypto for taxes in the UK.  Cap gains taxes apply,  or income taxes for traders, "very large" traders get special treatment.  Crypto losses like any losses, include transaction fees and offset gains but are only realized on selling.  If your bag nears 100% losses, file a "negligible value claim," when/if approved by Her Majesty, lets one book the loss and keep the assets at a new (~zero) cost basis.

Always annoying that big traders get better tax rates than their secretaries. But thanks Jeff, right?  NO.  Scr-w ya Jeffy, as YOU D_MN WELL KNOW ya never mentioned the important, educational, topical story here and this pile of hogwash could get readers into real trouble.   The REAL STORY:  a reader who takes this fluff at face value will obviously consider selling his crypto/NFT's, claim his loss, buy back the crypto and go on his merry way, happy, right???  If he does, he faces jail.  It's called the Bed & Breakfast (and Same Day) rule in the UK - buying and selling assets just to book a tax loss is fraud.  Called a "wash sale" in the US,  it's a hotbed of debate as oddly it is illegal to wash stocks n bonds, but still legal to wash crypto ( until Gensler et al get it together.)  Which means it is all over the news, as any beginner on Reddit could tell you.  Shame on you FT, once again no education IN RESPONSE TO A DIRECT QUESTION!!! Now we zoom out - oh, ok, it was more important to work in that pitch for Jeffy's firm to do a neg value claim than to give info to the little people.  *&^#*&$^(#!!!!  was the real priority just another headline trumpeting "digital losses?" Maybe a perfect 5 of 5 FU's for this one. 

OK now the BS detector is all fired up.   The Story: A rehash - Renaldo drops NFT's on Binance.   Three paragraphs total - yet "crisis" twice plus BTC down 70% / "five years of gains wiped out."  No mention of $$$ made in the NFT world. The REAL story: - the raison d'etre looks clear - bash crypto with slanted coverage even IN THE GD SPORTS/NFT section.  Hey FT, tell us, WTF do NFT's have to do with BTC, let alone BTC price action?? You utter jerks.  The lack of education once again.  The dogs that were not allowed to bark by our masters- most, nearly all NFT's run on the ETH blockchain.  Renaldo's NFT's will be native to BNB, so THAT might be NEWS, so don't say it FT!!!  Let's check the Gecko.  Actually RELATED TO NFTs, investors holding ETH for "five years" are up 12x, or 1,200%!! BNB hodlers in "~five years" up about 400x, 4000% to you tradfi losers. But ya can't print numbers like that when focused on the narrative of keeping the crypto down, huh boys!!?!?!   This story rates 4 out of 5 FU's, FT!!! 

Next up: SEC  chair "proposes one rule book" for crypto oversight.  The story: Gensler is trying to link crypto regs between regulators for securities (SEC) and commodities (CFTC.)   Politics might be slowing the SEC watchdogs, which collected most of the $3.5 billion crypto fines to date.   Bitcoin down 70%. A bipartisian bill is cranking up the CFTC's powers. The real story - skipping the gratuitous BTC stab - all good.  "Fraud, front running and manipulation" should all be prosecuted, and order books should be transparent, though that's a bigger ask. Score:  only 1/2 of one FU for the out of place BTC dig.  Y'all know BTC is not the big regulatory issue, BTC nor it's price has ever paid an SEC fine. 

Next - the big spread:  "credit crisis" "shockwaves' for crypto.  The story: "fragile system" in crypto just like 2008. Once enthusiastic, crypto is now stalked by FUD and turning to "rescue packages."  Numbers go down, terra luna celsius three arrows coinflex, more coming the FT hopes n prays.  Defi protocols have no central authority, rather run by governance protocols pulling in a quarter trillion USD in assets.  The 2017 boom was all level one coins, this time it's all Web3 yield farming etc. including levering up with recursive borrowing.  OKX says it is all packaged up to look SAFU.  Interest rates up and numbers down leads to "the Great Deleveraging" nuking 124 billion, or ~50% of defi assets. Some think the worst is passed. "Without a central bank" Sammy Fried loaned < a billion. Bitcoin was invented in 2008 against "politically tinted" easy money/inflation, but easy money fed crypto.  Now, booms and busts will hit crypto and there will be shakeouts. 

The real story:  what a nasty headline, and WHAT a strange gloomy weird ass picture spreading subliminal hate in classic FT style.  Really WTF is that?  Bloomberg created and used this agitprop before, we noticed and hated it then and we dislike it even more now.   A huge black rectangle followed by people with their heads covered holding mysterious objects, maybe an eighties cell phone and a rosary?? A giant bitcoin looms menacingly in the window, while pamphlets show that we are in a Russian or eastern European bank, or something.  What in actual hell does any of this have to do with digital asset games in the western world?  Not a d-mn thing other than graphic FUD.  2 FU's   just for the Bloomberg recycled pic, FT.  The FT's desire for more crypto failures is glowing thru the story.

Coinflex locking up is a bit of news, but not much. A Bybit reskin offering 250x leverage with physical delivery (who cares??) with a decent exec team, one whale has spooked them. One ray of hope: Scott Josh and Kadim actually &%^^#!! sort of mentioned that Terra was an algo stablecoin. But they make up for that with misleading by positioning the OKX quote right after talking about recursive borrowing.  To us, the most famous recursive borrowing was known as "the degen machine," which kinda says it all right there.   The OKX quote is a dig about Binance saying Terra farming looked "safe and profitable." We are 100% that OKX is NOT even hinting that degenerates borrowing recursively has ever been packaged as SAFU.  Saying that BTC is against crazy fiat printing is true.  Saying or even implying  that ANYONE in crypto said that crypto was immune from booms and bust is a flat out lie.  Dear readers know that calling this a Lehman moment is agitprop.  Was this a conflux of lies from quasi official rating agencies and semi-private ( privatize wins, socialize losses ) Freddie and Fannie, plus top #1 accounting firm fraud and fortune 100 corporation lies, driven by the government pushing aggressive lending for political gains, resulting in a trillion dollar bailout ( 1.5 trillion if ya believe Rolling Stone, or ~ TWO TRILLION IN TODAYS MONEY )-- they were ALL in on it !  IT WAS &^@*#^@!! NOT!!!!   Sammy Fried ain't handing out free money to his oligarch butt buddies, more like picking up assets on the cheap for a paltry < billion, or about .05% of the 2008 bailout.  Everyone in crypto does NOT want a central bank, and knows market shakeouts are good.  Spare us the Lehman moment crap, FT. Overall, that's maybe 3.5 FU's out of five, FT.  

Mikey Sailor rides at dawn - boots and saddles people!!The Spotlight on Mikey - a mean lead about "soured" BTC losing $5 billion.    Whaddya do?  Sit tight and "keep preaching the gospel of crypto."  Mikey says keep a ten year horizon. Why does Mikey have nerves of steel and an asbestos arse!??! Think back - he was king hell of the dot.com boom, until he lost SIX billion in ONE DAY in 2000 and paid some SEC fines to boot.  "He's a visionary," who got p-ssed at the loose money Fed, rounding up four billion in funds to dump into BTC.  Now he "doesn't have a shadow of doubt" as BTC "crosses the chasm" to mainstream. Mikey's still worth 1.6 billion with a house and a yacht, actually many of both with lavish parties in Washington and Miami.  Mikey's fans say he is prescient, Mikey's foes say he bet it all on red and lost.  BTC is still way above his initial purchases, but now below his average cost, and Mikey took out a loan.  Don't worry much tho, Mikey still has 3/4 of his now $2.7 billion in BTC to meet margin calls.  He does not give a whit about shareholder activism as, though he only owns 20% of the company, he's still got 68 percent of the preferred voting stock.  First repayments on debt are not due until 2025.  BTC needs to rise 50% to break even, what a wild ride, stay tuned!!  The REAL story - 50% number might be a bit high, but all in all - great job, FT.  0 out of 5 FUs, man, five stars for an unbiased but thrill packed story.  Thank you thank you. We love a happy ending. 

Love, 

Dave