FT Crypto Watch April 14

FT Crypto Watch April 14


Defenders of distributed money, we love you!! The watch army rides at dawn on the Pub0x, one for all, all for one!!   On a MISSION, baby!! 

To laugh at todays tradfi agitprop, that is!!   What's funny?? US CDS, credit default swaps, are surging on thoughts that the US might default on debt!! That'a funny crypto that can't say crypto!! 

 

Online, we get cryptofinance11 

567fe28b02855a920669017363bb4f0cd81c6b156454f159f6425d055624cff1.pngTLDR:  hey at this point the subliminals of the  FT's crypto montages are funny in and of themselves!! C'mon, when was the last time ya saw black n silver physical bitcoins, with a weird vaseline lens blurry fog, floating above a scary negative exposed white on bright blood red technical analysis AH HA HA HA HA HA !!! 

OK then whatever. It's another cute try for the FT flat roof pub meat prize for the worst anti-crypto narrative copypasta!!

With a BONUS, today, we get talking points !!! Remember the ones we all laughed at yesterday?  By super secret agreement, magically they re-appear TODAY!! 

fund managers want crypto DESPITE !!! 1) price go down 2) "bad news' 3) the CRACKDOWN by Merica!!  Then, repeat the exact lie that BTC is up only 50% - it's more like 100%!! Aww, they're scared....

OK here's some fresher hack jobbing.  Depth of market is down. Therefore the LSE will enter the fray for institutions, late as hell like we laughed at yesterday, along with GFO-X, and Nomura with Laser Digital  / ClearToken, and Komainu.    Ah man we need a punk rock love song for this slog: 

TLDR that's better where were we?

 

Blah blah blah, exchanges are a leap of faith, wallets and keys are hard  (QUIT WHINING!!! ) so turn it all over to clearing houses.  "sounds dull, but offers a sharp professional contrast to the amateur, do it yourself efforts of crypto.  "STFU!!! REAL players like Blackrock and Schroders, the biggest asset manager IN the UK , have all gone balls to the wall crypto LAST YEAR!!  Mention THAT!!  WHO GIVES a rat's furry about these johnny come latelys?? c4cc771f373390ed967531d8bcadf2d2b6a272aab356c5c517f07b49d3b5bcd3.png

Eth changed to allow withdrawals, but Binance sez it may take time for large withdrawals.   

Let's tighten this up before we die of boredom.  Here the FT wanders off into incoherence,  saying wholesale financial markets are less centralized than crypto, singing the praises of two days to meet margin calls.  WTAF, dear readers know the LME locked up and puked BILLIONS of dollars ending in lawsuits when their centralized system FAILED.  Mention THAT  you $(2*&#$#(4*&#489#$7!!!!  

The FT actually daydreams that someday the crypto market could be like the foreign exchange market - where the average client gets SCREWED on interest rates, but that the substantial biz takes place elsewhere, in a radically different world. & THEY SAY THAT LIKE IT"S A GOOD THING AH HA HA HA HA HA HA !!! 

The Judges take BACK the fart in a spacesuit award dear readers know we all gave to Warren Buffet, so the mighty Watch Army may give it to the FT HERE!! 8ab8a6882582e692762727b6238a8084b1c181fa563930ca52c2ba735d46e345.pngTLDR: Phillip, what color is the WIND PHILLIP??? 

 

We offer three of five FU's for this article, but the Judges, who are hungover & in a bad mood themselves UP the count to  5 out of 5 FU's for the extra horribly BORING writing style, it's like ATTEMPTING to be condescending!!  

In other fetid negatively selected "news" - ETH once again, perfectly pulled off another of the largest, most important fintech upgrades in all history, without a flaw.  Here the FT spits on ETH attracting institutional investors, and says the "much-touted" Merge promised to prep for institutions, and "it hasn't."  Yes, it #@$)(#@*$)@#$*#$N. has, driving energy costs away, no matter WHAT you say, paves the way for ESG bound companies to come in.  Quit lying.   It's funny, the FT cherrypicked neggy info from Kaiko!! Kaiko's state of the crypto reports  also had LOADS of massive crypto GROWTH stats.  More contracts being launched than EVER!! 

FTX FTX FTX, and 

8d955ca7acc0c552a3f8d5ec02e637a75d81bc48c0882e24142da393cb84af26.pngnot subtle at ALL, the FT quotes Mikey Novogratz saying the crypto investor base was energized by banks collapsing and US enforcement.  Why? because along with saying crypto is a little persons revolution against the gummint they don't trust!!  Mikey says it is a "religious" belief.  AND THAT'S on the FT agitprop talking points list !!! The magic word is "religious" to be repeated as a point of scorn against BTC!! 

 

Finally the FT tries for a scary graphic to end, and does a faceplant instead.  Here is their try 

54d1090294f32e987ea34f76ab070a2bfd30e38c0bacdda12571ed9f5fecd468.pngTLDR: the FT tries to make it look like the mighty CFTC destroyed Binance's volume, using Keiko's data.  the graph labels make no sense - is that the rolling average of the five days?  WHICH five days? 

But don't take OUR word for it AH HA HA HA HA !! EVERYONE else that covered the story, including Keiko their own selves, clearly state that ALL the effect came from Binance ending no-fee trading!! a7d399d91fd3c780c08d9e4c76ae919fdf38ccef79f61de26ac9c87e2c34e361.png

Kaiko predicted the cut would remove volume.  Not in the 3#(*&#$#(*& FT,  Here it is when it INCREASED volume:bc51f9dff44652b005f7f0cefc846e93dabab0f8d9694b210e62ce3afc4dedb5.pngTLDR: after everyone like the FT whined, Kaiko adjusted their stance from "the CFTC ruling did not significantly affect Binance volumes" all the way to " OK, the CFTC affected volume a little bit." 

Ah ha ha ha ha ha!! 4 out of FIVE FU's for this deliberately misleading neggy pile of tripe that ACTUALLY IGNORES what the SOURCE SAID!!! 

We love y'all cryptonauts!!  Hope to see you soon in happy funny crypto news land!! Thanks so much for helping your Watch Army push back the boundaries of anti-crypto nonsense, it's important!! 

Please refer a pal to the watch army! 

Follow us on twitter, we will follow you!! @davidsawyer

Peace out, 

love

Dave 

 

 

 

 

 

 

 

 

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Dave Sawyer
Dave Sawyer

National Merit got this punk rocker to Oberlin, and Wall Street fintech gave up world tours and an NYU MBA. I am a Bitcoin true believer. Bitcoin is deeply revolutionary in a way we always prayed tech would be. Keep the baby Faith!


FT WATCH - the Financial Times on Crypto!!!
FT WATCH - the Financial Times on Crypto!!!

The WSJ turned into USA today - which leaves the FT at the top of the heap for serious financial news! Join us for a semi-serious monitoring of the FUD & hate the FT now showers on crypto. Dear readers know we love that pink newspaper but boy howdy does the FT despise crypto--- it's funny. The old guard always fights the new guard. The FT does it eruditely, with misleading comments, fun graphs, and outright lies (usually) attributed to crypto's greatest enemies!

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