FT crypto watch March 24


Cryptonauts, we love ya!  & the universe does too!! 

The tradfi Pravda is coming out swinging at crypto!  But even though the pink lady has changed up & hard wired the search engine to ignore it,  they STILL gotta print bitcoin over 28,500 on the front page: 947ce21a840798cd4c3675b7bec5cb3bd6be619b7116d1be575949ae6c5587a0.pngTLDR: yes baby YES!!! Sets everything in perspective!!

Along of course, with another installment of a full-page Ripple ad!! 1a828f200c727f34969df39cdbd934bf21f5785ef3caa36295bc1bee1eac95ac.pngTLDR: also proving the FT has UTTER moral & ethical cognitive dissonance ar ar ar ar arooo000000!!! 

OK then!  Put some thrash pop cover on & let's RIDE!!! TLDR: almost SATURDAY!! 

Tradfi corruption funnies!!  eb5890e7164113cd05617548ef99c38c20d6313e41316b100bb459e8af364ba1.pngTLDR: lil Britain dished out over a BILLION pounds sterling in a strange, self valuing way that looked RIPE for crony fraud!! & It WAS!! but don't worry, the cronies gave back 1% ar ar ar !!

New (anti) crypto (narrative) in print: b563585a88de8b12e28612790bcf8cfccdc426fd5c696d35db81fbf0a124f6dd.pngTLDR: the FT uses an ancient pic online and NO pic in print.  The story is a non-story, just an excuse for the same old agitprop to be regurgitated again:  Twist like a pretzel to avoid saying "algo" stablecoin, simplistic childlike definition of stablecoins, quotes about PLUNGING into an UNPRECEDENTED crisis of confidence in crypto, the usual. 

The REAL story:  we love y'all, so let's skip the FT & go to the NYP  for developing details!! YES, Interpol says it IS D'oh!!45245f3e76a40724d572315498a88e102f552402d6ca4fd13159d34c77ae25ab.png AND they caught his CFO too!! bfa645f43b233e1d7ef2543ba49f200b401da17021f9f1a5b7f9dc29d514b4a9.pngTLDR: they had fake passports from Costa Rica and Belgium!!  Oh YA you dudes TOTALLY look Belgian!!! & Costa Rica is SO respectable!! & we are SURE y'all are FLUENT in Flemish, French, German and Spanish LIKE NATIVES ar ar ar arooo0000000!!! 

also we were RIGHT!!! NO plastic surgery, dudes did not even grow their HAIR, BEARDS, or even DRESS differently!! AH HA HA HA HA!!!  Wow, hubris.  Or cheap with the loot!!  We bet they were flying first class tho!! 

OK, back to the FT.  The tradfi world has gone STRAIGHT to $#(#$#(!!  So ? Here's Lex, to deliver a hack job on crypto: 7359c2ce2e45c002ad5e289a57305126f5ce7637404db822a5a5d115e4c55e01.pngTLDR: Lex's ax job works away to conflate Coinbase and Block.   Coinbase IS the most respected & upright crypto exchange in the world. Block is not even an exchange, and lied about their user base & costs.  WTF LEX??  Block is getting shorted like there is no tomorrow, COIN is up OVER  100% YTD!! 

"Coinbase must cope with crypto winter" says LEX.  Wakey wakey, eggs n bakey Lex!!  Crypto winter is OVER, it's BANK COLLAPSING,  INFLATION, &  high rates winter NOW!!! 

Lex closes with a dig about "newfangled" biz models.  OK BOOMER!! OK Victorian Dad!! All we hear is " man was not meant to fly" / "get a horse" !!!   ar ar ar ah HA HA HA HAH!!! 

We close with a hearty two out of five FU's for Lex for this effort!! 

Tho we do kinda like Hindenberg, the firm shorting Block.  What a hilarious name!! The business model of being both a short AND a publisher is kinda nasty / quasi-legal to our eyes, tho. & (#$*&!!  Jack Dorsey anyway for his lies & actual perjury before Congress about censoring and shadowbanning at Twitter!!  & now, Jack lies and mis-files at Block!!  ar ar ar!! 

Online!! Alphaville weighs in, we kinda agree with this one!! 55dfcbf9a312de92017e7bfd4e4a4c7d51f0614a9f352751cc44b5f3ca0d2696.pngTLDR:  Circle says they are the responsible, stable future of crypto!! But they blew through FDIC insurance by a factor of 12,000x!!  

& then Jeremy lectured the #$#(&* out of everyone at Paris Blockchain.  He did make the point that Merica  is driving the strategic technology away, while forcing people to go to unregulated, opaque places for crypto.   But then he spouted BS - Circle never paused redemptions - ya, cause Coinbase did it FOR them!!  And CEO Jer attacked the entire fractional banking system that just bailed his arse out. 

So did USDC take the 3 bn & store it somewhere safe, like in a vault / under the mattress?  NAH, they gave it all to BlackRock to flip!! What could go wrong with a hedge fund ever ah HA HA HA HA HA!! 

The REAL story:  THREE THANK YOUS to FT Alphaville!! We LOVE IT!! 

Peace out crypto people!! Thanks, mighty Watch Army!! 

Please refer a pal!! We need 16 more followers to hit the magic 1000!!! 

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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