FT crypto watch March 20


Blockchain believers, we love you!! & so does BTC keeping it real above 28K !!

Let's check the spin in the tradfi pink lady today, shall we ? 

Oh lookee, here's a big in depth article about India !! focusing on Modi & the economic situation !! Surely there will be crypto THERE, right?? after all, not in the FT, never in the #(#&$(#&#(* FT:84ede382c5907ccf100920379b24c6fe2baff843c49e88bde5512e1c2dfa1c02.pngIndia is by many counts leading the world in crypto adoption!!  & to add to the dynamic tension, Modi is trying to get the WORLD to act in unison against crypto!! 

No, not in the FT:c6020f80f48e9445d30161ddcdaeee5376d57087f87443cc99951817d4397f12.pngTLDR: India has inflation that is hurting a poor, young population, with little banking infrastructure.  Of COURSE they love crypto!! In the FT?? not a ($##$(*& peep.  All the real news that won't fit the narrative!!! 

Lots of banking funnies!! Always remember, the Credit Suisse building in NYC was supposed to be 100 stories high!!! Instead, the insurance company went bankrupt in 1929 and they only built it to 30 stories and that took 20 years !! b786b07309f4fa83688242c71fa1ab41d9ce3c99827e91d0c7f977c506ba39ef.png 

In related funnies, Blackrock management consulting SPECIFICALLY ON RECORD said SVB risk management was LAME LAME LAME!!!! 46bc31078aee177f8f2190d25d051c8081ee7583a6e47f10374877b2cf5fb147.pngTLDR: why it's as if eveyone knew, and they had no chief risk manager!!   

Why it's that way all over???  It's funny, Cohodes, a single man short operation hit some home runs on shorting Sammy and Signature. d8e0b720216f61d22476c4e409a1e71ef3b1ddb4a807b6e3619b0fabb62e1d59.pngTLDR:  Marc "Cohones" wrote a letter to the FDIC to say they were all crooks!! He says the FDIC wrote back, but never followed up.  The FDIC won't say nuttin.  But the Feds DO say Barney Frank is wrong, and they are NOT on the warpath against crypto banks!!  Dear readers know exactly what THAT means. ar ar ar ar ar ooo000000!!

What else is funny?? 66197974b6e31a92568a3164a2dd5184c80a760233ca31e58b61368d0fd8be3a.png

Oh man lot's else is funny!! well there's a big article about how a supermarket chain in Mexico has plans to bank the unbanked!! 930703a0945d551652fc13d1ffc1cdd22932cb7f2173dfe415bd19aafbd10e97.pngNOT in the story, NEVER in the #$(*&#$$(& FT, Mexico is considering following El Salvador!!!   Coinbase is wide open for biz in Mexico!!  Crypto remittance companies are PILING in to disrupt Western Union!! 9ea3359db9dd4d652e30bbad19803117c34aa978d86d55a915c72661aadb894a.pngTLDR: this is some drain bamaged news coverage.  If only the FT had, we dunno, a CRYPTO reporter maybe??   Coinbase is legal and ALL SET UP TO GO!! Talk about all the news that fits THE ANTI CRYPTO NARRATIVE!!! 

So technically, that's it for crypto that says crypto in dead trees today.  Just the short seller article!!!  Ah HA HA HA HA!! 

We could do crypto not allowed to say crypto all day, but let's move on to the online stories!!! 

One story on crypto!! Will it be negative???  Three guesses!! OH yea04c3c622b10d147f711e1791469e0f10041fbf616470b8745ca8fb59d06d1ec7.pngTLDR:  Oh wow, is this a giant crypto conference now humbled by the demise of Sammy Fried?   And A-rod, the guy who got suspended for steroids, drugs, DUIs, so then he opened an investment firm??   The guy we used to laugh at for being unable to catch a CAB!!??! 

NO, not at all. It's just a frame job to make busy readers THINK that!! 

This is just the FIA, the futures industry association boondoggle in Florida.   This story is a rehash of the same story the FT already did. 

There never WERE that many "crypto bros" at the FIA.   It's stunningly boring, though we did used to sell some FIX connectivity there.   Sammy did try and crash it last year, with his wild ideas about 24/7 risk monitoring and having computers, not humans, do the risk.  

The REAL story:  those ideas are still alive and well, look at the giant $#($*#(*&$ of the LME.  Even the FIA guys agree they are still moving towards 24/7 and more automation.  Coinbase and RobinHood are slated to BECOME FCE's, but it's not clear they EVER wanted to fight them. 

One boring FIA brass is proud to say he quit wearing a tie last year and has not gone back.  OK, that's great dude, but we direct his oh so not modern self to one telling fact - we remember DECADES ago laughing !!! The head of the National Necktie association, a very stylish man, DECADES ago quit wearing a tie!! The National Necktie org FOLDED in 2008!! Zenya himself said the tie is dead!!  This guy must be running on the fashion brain in his reptilian tail if he only got the message last year ar HA HA HA HA HA HA!! 

Let's wake up the Judges and force them to agree - TWO out of FIVE FU's for this misframing hack job!!! 

 

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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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