Crypto people, we love you!! You know we do, cuz we keep writing y'all crypto love letters every night here, step off, we doing the Publish0x!!!
Crypto in the FT!! First, just give us the MUSIC:
OK, crypto in the FT!! Crypto that dare not speak it's name - fiat follies as the central banks start wimping out way beneath Taylor rule anti-inflation levels:
TLDR: rates up, GDP down, inflation stagnation!! Brought to you by Fiat!!! Don't worry, all the Cantillon positioned did quite well!
Crypto that says crypto:
TLDR: Mostly rehash of the glee of lawyers, fresh legal case law hairs to split!! Vultures picking the bones of FTX!! Two PwC partners got the plum job!! There will be a MILLION creditors!!! The court filing says it's unprecedented!! Sammy was respected!! It WAS a hack that swiped the 500 milion!!
The REAL story - Even Madoff scammed 10x Sammy, he still had precedents, Sammy is quite precedented. Sammy's new lawyers say it WAS a hack. Was it?? or does Sammy suddenly have $$$ for lawyers, ar ar ar ar !!!
Next, the story of Nestcoin losing the 4 mm they raised with Sammy hits dead trees. It's another investor mauled as FTX woes SPREAD!!!! We stand by laughing, if that's the best the FT has for contagion, then it's aaight, WAAGMI.
Online baby!!!
TLDR: Rehash, plus predictable defense from the Island PM. Lawyers getting intercontinentally paid!!
The REAL story: The Bahama PM says the Bahama's will emerge from the fog of FTX smelling like roses, with his shoelaces neatly pressed, thanks v. much. More quotes from the hysterical (not funny, just overwrought lol) FTX court filings!! FTX is on the lam from dozens of federal, state and international agencies!! "
Ladies n gennlemen, the worlds greatest entertainers, the trial lawyers.
NEW HOT CRYPTO NEWS ONLINE !! OH No dangit!!
TLDR: Genesis locks up. #(#&*$*(&#@ !!!!! Genesis had around three billion in loans out, down from over 100 billion in 2021.
The REAL story: Mikey Moro walked the plank after he gave Kyle and Su around two billion. He should have fired himself LONG before THAT happened. Dear readers remember laughing at Mikey M. His unsainted predecessors said hold my beer and just lost almost 200 million on FTX.
At this point, NO withdrawal requests should be considered abnormal, ar ar ar ar !!!
Now, in real live contagion, already crippled Genesis leaves almost 200 million on line with a CEX. Brain deadness will never cease!!! Wow, guess y'all don't trust yer own custodian services. How long does it take to send funds out of cold storage to trade, really???
Digital Currencies Group owns Grayscale and CoinDesk. DCG claims honey badger status on the whole mess. DCG gave Genesis 140 MM just last week, the second such move this year.
Wow, we could see contagion coming to the Wrinkly Toss twins. Don't even want to CONSIDER DCG and Barry Silbert hurting. Hmm.. Will the whale walls hold under this latest bunch of bad news? The Watch says yeah, basically. Barry already bailed Genesis. Again. Yet another bad look for crypto, but really Genesis was already walking wounded if not a dead man walking. FTX was trash, but contagion ain't that huge just yet.
Wahooo!! We hope it never will be !! but if anything is as stupid as Sammy's wild balance sheet, it SHOULD all go to $##$(& sooner rather than later!! It's all OK!! It won't be like nations that keep zombie corps alive for decades killing growth!!
Next, we already heard about Galois Cap. NOW, we have embarrassing pics of a founder.
He is broadcasting from a sad office with tiny pictures hung in a pathologically depressed "suicide note" style, leaning down to the right. Remember, we don't care that you are sorry!!! ar ar ar. Sometimes, often, a cleansing rain of fire must come. Ask Joe Schumpeter!!!
Next - well we were WAITING for another broadside from Alphaville - that she blows!!!
TLDR: AV is right, Sammy has diarrhea of the tweet. Goes ON and on. THIS one ALONE makes US just want to SLAP him SILLY!!!
WTF ?? STFU!!??!!!! Other than the Venn joke, others ( can we call the link to a cheezy video game a joke? ) are lame - e.g. some Twitter FTX partner can't take down their name, whatever.
We love y'all!! Hang tough, it will all be fine!! Sleep well when you do!!
Peace out, love
Dave
please refer a friend thanks!!ambassador link: https://www.publish0x.com?a=WZdPKv2bKg
There's an iconic, seminal audio version out there with Humpty and a solo baritone sax. We all heard it on Hot 97 a million times, if anyone can find it please tell us lol!!! some kind of mix
love
Dave