Crypto folks, we love you. Thank y'all so much for every click on the lovely Publish0x. The next generations will thank y'all as well, and look back with love like the Renaissance. There will be a global crypto day of love someday, in honor of Saint Satoshi, 
the Prometheus of distributed money. What a gift to mankind. Nothing but love for hard money.
Once we get past the modern day fiat antichrists having their day. And escape all the short term slings and arrows of outrageous fortune, and win through a sea of troubles. Like last quarter. 
Changing the fabric of the FT's crypto coverage, one click and chitpost at a time, sisters and brothers.
On the 23rd day of the FT blackout on Nexo offering to buy out Vauld. Vauld did formal bankruptcy last week. Nexo is about halfway through their 60 day option.
In today's FT, we have only one Crypto story. But it is kinda, gasp, positive!! YYYAAAAAYYYY!! THANKS FT! And we forgot to say how lovely the Weekend edition was, the book reviews alone worth the price of admission!!
TLDR: Crypto market cap up 280bn in July after "painful selloff, credit crisis, scared investors." 400mm dumped into crypto asset trackers. "Bold" investors going long, no one adding to shorts. Rehash: BTC number go down 70% from ATH, market cap down. Terra, one of the largest stablecoins, killed 3AC and Celsius. Investors pulled $481mm from ETFs/ trusts. Now, market cap over 1tn, BTC over 20K. "ether has gained roughly 40 per cent in the past month (sic)" ahead of the low carbon merge. Total AUM in crypto is back to June levels of 30bn. Last paragraph of doom: Charley, MD at blockchain firm (sic) R3, says price action stabilizing "in no way indicates an inevitable upswing."
The REAL story: yeaaaaaaa, no, nope, no effin way. Spidey sense tingles, flashes, now going full red mist. Let's unpack!
First, burned repeatedly by biased FT crypto graph crop jobs. Lookit that graph, 200mm in, 100mm out, 100mm in, 100mm out, then 100mm out again. That's kinda touch n go scary / negative, no? NO. Can't find the exact current & longterm graph, but here's a non crop job crypto flow graph option
That's not scary, that's inevitable. Like the tide coming in.
Next: Terra. Why the (#&#$(!!! not say terra, ALGO stablecoin!! Give up the conflation narrative and draw another breath. H-ll, even say Terra was THE largest algo stablecoin.
Saying Terra was one of the largest stablecoins misleads about algo AND size. Post "crash" Tether is ~66 billion in market cap, ~4x Terra's 18.5 peak. Next up, USD coin ~55 billion, 3x Terra's peak. Lowlife BUSD today is ~ATH market cap of Terra.
How's this phrase: Ponzi algo "stablecoin" Terra, which doubled in the spring, briefly reached a peak of about 13% of the three largest stablecoins today. Oh, but then no one would give a chit, would they? And as time passes, they won't either.
But here's the one driving us NUTS!! )(*)$#*!$)!!! CRAAAA ZEEE! The damned lie that Eth gained 40% last month! Let's go to the Gecko! The FT quotes Gecko alla time!! Not perfect screenshots but dang close. Last price of June 30 ETH ~$1,014 USD. 
July 31st, ETH checks out at ~$1,705. That's a gain of $691. & THATS a gain of > 68%!! 
WE WANNA RETRACTION YOU #$(*&#($*&!!!!! In what universe is 68% "roughly" 40%?? 68% is "roughly" 70% you absolute WANKERS. Yet another example of lazy, copypasta media cr-p. Show some love, DYOR. Sticking the "roughly" there makes it look deliberate.
OK, now we don't trust CHIT about this article. Like, who exactly is Charley at some blockchain firm? 
Ohhh, OK, we see Charley. He's the former COO of the US CFTC, the commodity futures trading commission. That's the agency that SHOULD be prosecuting the Coinbase insider trading case. Instead, despite case law and jurisdiction, Gary at the SEC is castrating the CFTC to try and make chitcoins securities in a *$&$^ civil case.
Charley is a known crypto hater, supposedly at a "blockchain" company. Even that's a lie. R3 THEMSELVES advertised "no blockchain, cuz we don't need one." R3 is a semi failed consortium (links below) of Wall Street giant banks (many quit) to create an expressly secret distributed ledger. R3 is a joke on Reddit- "It took millions and a huge consortium of tradfi to figure out that the tradfi giants should use their own, old, tech."
Ok, we don't expect the FT to know R3 is NOT a blockchain company - wait, y'know what?? $(#*&$(#*& that.
We DO expect better. Skip that we all would LOVE to have their jobs. Skip that if the FT did NOT know R3 is not blockchain, they should be fired for gross incompetence.
We are sick sick sick of people saying the elites just made a mistake, they didn't KNOW that cutting oil & inflation would last until high fuel prices crushed farmers, populations, travel, food and generally the lives of the little people in the great reset. Nancy's husband doesn't KNOW he is insider trading. The big guy didn't KNOW Hunter's antics. The FT KNOWS R3 is blockchain just as much as the Big Bad Wolf is Grandmama. 
The FT freakin LOVES Chas raining death onto REAL blockchain from his high horse. Published a huge letter from Chas last year. Chas says crypto must accept gummit regs "whether they like it or not." The fully decentralized model "will simply not be permitted." Chas threatens a "death knell to the whole crypto industry." The FT just wants to push their narrative. It ain't working, and every day the UK falls further behind the EU from banning crypto. Even when the IA is begging for it, and Schroders is buying in.
Y'know what Chas? Skip the part that yer no longer in power, pretend you are and ban it all then, pal. China did that - oh wait, they are still cranking 23% of BTC hashrate. Oh, but surely y'all have more power than China over her own citizens. Not. Remember, Binance "cannot be regulated" while observing UK laws.
OK, time for tough love. 
We want to give one FU for refusing to say Terra ALGO (Ponzi, relatively small) stablecoin. One FU for the flow graph crop job. One big fattie FU for the lie of calling a 70% monthly RIP UP by ETH only 40% for ether. And another giant FU for (re) quoting Chas' neggy thoughts on crypto, while pretending he is a blockchain believer, and lying about the blockchain part for a total of four thumping FU's out of five. Judges say that's just hostile, and override. They say tough love skips the graph SNAFU. Tough love gives up on correcting the FT'S rat arsed Terra stablecoin conflation. Tough love only lets a half FU stand from THIS case of the FT once again portraying a crypto hater as neutral or even positive. But even love incarnate thinks 68% ain't 40%. So, one and a half FU's for this seemingly sweet article.
We strive for the day the fabric is better. Till then, love
peace out
Dave
