FT Crypto Watch December 6th


Ciphercoin lovers, we love you!!  Thanks for being here on the unstickable nebulous wonder that is the interstellar Publish0x!! 

Changing crypto in the FT one chitpost and true bleu click at a TIME, Watch Army, sure ye'll go straight to heaven!  Reading music for all y'all:

Today in the lovely pink lady's financial heart: Crypto back on the front page, always bad news.  So they THINK HA HA ! 

It's the online story about Circle failing to pull 9 billion in valuation from going public with a SPAC.  3aef8d435cfd6971a1f2d5d9abd0a2d2cafa0e0adcb73a4167b4bf615befa996.png TLDR: today's read, what pops?  ALL the OTHER stories about SPACS in the FT make sure to say SPAC BAD, a highwater mark of loose money insanity.   Here the FT skips that part!!   Instead, the FT fanatics blame it all on their narrative, the death of crypto inshallah haibibi.  It's STILL funny that the truth about Circle USDC's fall from grace can't be printed cuz the NARRATIVE.   The haters at the FT can NEVER admit that USDC violating the principles of unstoppable crypto caused a whiplash market reaction that clubbed USDC's market cap that month!!  It's hilarious next to USDT OR BUSD or even  others. 

Also on the front page, along with BTC above 17K, crypto that dare not speak it's name: 5b497c654a804f6b052c157a5fad28be5c5a1fa3d63d17aee6b0ffad27635ee4.pngTLDR: we will print money to give to our pals in the name of helping the very people we are currently hosing over.  What could go more wrong?  Can you say moral risk? 

in print AND online!! A weird nothingburger story what gives?   The UK is pushing thru regulation post FTX.  It's funny, the regulation is kind of crypto positive, so the FT hates to say it.    In print there is a rational picture that makes the article make sense508974a70998f21145eb7029e5312d7167fa577b418f9d961733c57ead62ff5f.pngTLDR: yes, finally, after flushing Liz n Kwaisi, finally the FT is forced to admit pro crypto gummint direction.   It's funny to watch the FT claw for negatives - well the FCA turned down 85% of the applicants for AML docs!!  Online, they can stretch out.  They're gonna look into people that lost money on soccer NFTs!! you COULD lose ALL your money you know!!! 

The REAL story:  it's even funnier the FT can't keep pushing the "let it burn" reg approach ar ar ar ar aroooOOOOOO!!! 

But the BIG funny?  The grownups that run the DAY paper, the PRINT people, they went with a rational picture that conveyed Rishi's stated goal - revive the City to lead the world in cryptoassets.   The monkeybutts that run the ONLINE agitprop are under much looser restraints.  Turn up your subliminal message $#($&#($&. detector and check out the alienation dystopian worldview HATE coming from the ONLINE pic: cb83255ef2f9ebd5a73b0945e3843a32115d5777d5f46ce5af9d10627158eb78.pngTLDR: WHAT IS that pic?  people in a bad movie on the roof on the last day of the world?? 

The story about Winklevossers locking their whitelabled only "earn" program makes dead trees: 3c724a9bbb338e087366af53d16e5cb757f9496c3c55af5adc09a0fe98ca2fc1.pngTLDR: this time thru, it's funny how the article spins it so that FTX took out Genesis.  Buried at the tail end, the truth:  3AC took out Genesis. 

One horrid little letter we have to print.  Again, of the ban it all variety seen on FT comments online, but just as smug, stupid and self-indulgent:1d75eca4dc1d0eccc57c7f4c176b5143d0304ddba276335a3f6915650d71e193.pngTLDR: Crypto is snake oil, and I, Goncalo, am not even an expert in economic or financial matters!!!   the REAL story:  it pretty funny:  Macau is famous for the eponymous Macau Scams !!! Or, if more upscale, for giant casinos in a weird island regulatory quasi-limbo.   Hush, Goncalo, and watch your letter age like spilled milk. 

Not in the FT:  lookit that 180 day OKB print baby e9158480ca288a02db2da51548b6c06e2c45cb6b44b4cd9dd55934a21f0209b1.png

OK, back online!!  9999d95973db1959c56ad093d5f748b7430155b824e0dba9391e1d2634ca50ee.pngTLDR: Rehash, rehash, rehash compare to 2008.  Rehash, inside baseball name checking of various flying monkey bankruptcy lawyer firms.  Some lawyer Danny  says FTX is a disaster for long term acceptance and growth of crypto.  Danny has previously only ever commented on how long flying bankruptcy lawyers would keep and spend assets belonging to clients.  Dan's firm hasn't been PART of any of the big new cases, they just COMMENT on them.  Now, suddenly Dan'l  knows what is long term good for crypto and chooses to enlighten us: 3396c15f38db88042f71d54c89944eb9aa5a90c02e2ab574c101e3cefc8be32d.pngTLDR:  we once won a bet when we said people just don't trust people with bow ties.  Some other analyst got offended ( prolly wearing a bow tie, lol) & said we were making stuff up!!   We had to print out a survey of surveys from the WSJ to collect the cash being held by a third party.   We not only don't TRUST what Dan sez about the future of crypto, we just don't even CARE.  

Rehash, rehash, blah blah blah, examples of why it takes so long once lawyers are talking.  Chas from STILL NOT A BLOCKCHAIN company R3, the failed street consortium, says something meaningless, is it a rehash or a newish "quote?" 

It all reads like filler notes filed with lawyer expense account lunches.  The REAL story:  there's a despicable quote from Dan to close: "now that our leading vanguard has failed... it's back to the Stone Age for crypto. "   OK, KISSY KISS LICK LICK.  CZ HAS BEEN THE LEADING VANGUARD FOR SOME TIME NOW.  OR, you could say Brian from US regulated Coinbase is the vanguard.  Sammy was only as good as his 100 million in donations.   Have two FU's to add to the collection, judges even agree. 

Online:  Silverguard holds only deposit accounts, sometimes from crypto active people and banks.  For this sin, the FT thinks they must be punished!! e9bc1df22917eda0f290bcb0ebd2b6f32a6e2270752080c6f4f69ab760a47c8b.pngTLDR: just like the FT thought before!!  There is no story here, but of course the anti-crypto narrative and short sellers would love for there TO be a story!!!  the REAL story:  Prediction:  Silvergate is and will stay liquid.  Yes, the due diligence Silvergate did - FOR THE JOB THEY HAD - was FINE!!! Silvergate, unlike say Sequoia or Black Rock, did not lose a DIME from dealing with Sammy!!!   Have an FU for this story FT!!! 

OK we love y'all but we gotta pass out.  Sleep tight!!! Crypto winter is over, they can't hold us ALL back ALL the time!!! 

Peace out, 

love

Dave

ps please refer a friend!! ambassador link: https://www.publish0x.com?a=WZdPKv2bKg

 

 

 

How do you rate this article?

11


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!

Send a $0.01 microtip in crypto to the author, and earn yourself as you read!

20% to author / 80% to me.
We pay the tips from our rewards pool.