Crypto people we love ya! Especially today, y'all gave us our first dollar in ONE day article YAY!!! But really, we love y'all for just being here. Filling the crypto chambers of the skyscraping Publish0x during this crypto winter. Slamming away at that crypto positive Overton window to a view above fiat whoopsies.
Ahhh, we declare crypto winter is over. OVAH!! Now is the time to stack sats & whatever we call millionths of eths, lol. Pick yer blue chips and chitcoins, ladies & gents! They can't hold us ALL down!!
Sometimes ya need a punk rock love song that's hard to stop singing here's a contender: Sugar Ray started as a hardcore band, it's funny, you can see they still want to just jump back on it and thrash!! But the love of Pop calls!!!
Crypto today in the Pink Lady!! Will fresh BTC & ETH prices be printed again? We think they WILL! Yes, they do, fams, we broke the FT, now we are holding!! Actually soothing, only look at the charts once a day, lol. We pay for that tho - NO crypto in print today otherwise!!!! Wow if we had not just had such fun outside the FT last night, we might think there is NOT a tsunami of positive or at least funny crypto news!!
Tradfi funnies: Credit Suisse is selling off stunning buildings (and even the Savoy across the street!) around the world trying to get another 4.6 billion together STAT!!
lol dear readers remember way back bout a week ago CS shouted " we are NOT looking for capital!!!"
Hold my pint, sez the UK, we lost THAT much in budget overruns on the 40 billion HS2 high speed rail boondoggle! It's a killer whale that will rip the arm off the next PM!! Or maybe the next next PM, Liz’s hourglass has only two weeks left, new candidates are floating up.
The IMF whinged at Kwasi & Liz over the UK causing inflation. This week, the IMF prints two billion of fresh fiat for Tunisia. Meanwhile Poland's waiting for their promised 76 billion from the EU, hanging fire on rule of law violations where the executive keeps trumping the judicial. Hey, countries are DAOs, huh? Constitutions are code!! And everyone knows code is the law, just ask the Mango hacker lol!!! Prediction: the EU will quickly find a way to give Poland lots more fresh printed fiat.
Hey the print pink lady is still awesome tho, can we say highbrow fun? Remember, we used to have the Peace of McDonalds!! No two countries that have McDonalds EVER go to war. Until this year. But but but the Mickey D's in Kiev are closed, and the ones in Russia have mutated into "Tasty and that's it" and then run out of fries, THAT's not Mickey D's so, still true right at this moment...
Online we go! One skimpy article!
TLDR: a alienated pic of the ad OVER the NFT vending machine (why?) opens this "inside baseball" article about NFT reghammering. Or not. The FT interviewed Hester Pierce, the SEC's senior R (oh THAT's why.) Since she's slightly rational about crypto ban hammering, and an R, Hester gets no puff treatment, no nice pic or headline to help her name recognition. Just the alienated tiles over the NFT machine and a security camera? instead. So, not in the FT because Fear of crypto and Favour of anti crypto people lol. Here we will fix than fams here’s Hester
Was that so hard FT??!!?? Jerks. Have a Fu!!! Anyway
Hester says some NFT's should be regged like stocks n bonds. If NFT's have governance rights or future rev streams, they, and/or NFT spin off tokens ( looking at you ApeCoin) are probably securities. Hester has split with Gary before.
Rehash Gary doubling the size of his enforcement team for the Wild Wild West. Rehash the SEC is probing BAYC. Rehash what are NFTs, plus number go down, plus Yuga Labs values at 5 billion led by A16Z.
Hester split with Gary over a crypto unrelated issue, namely the reghammering of private equity funds. Hester says huge sophisticated investors do not need retail style SEC oversight. Questioned if regulators would prevent another Archegos Cap disaster ( 10 billion Wall Street tradfi contagion blowup last year) Hester says regulators come in after the fact, risk managers are needed before.
The REAL story: (#$&#$(#$*&#@(* once again we fell for an FT story that wasn't really about crypto, just drawing crypto eyes, then talking inside baseball inside the SEC. Actual new content about crypto from Hester was NIL, just vague agreement and echochambering with Gary.
WE want to go back to the NFT VENDING MACHINE YAY!!!! Not in the FT, it's just barely a vending machine, really the door of an art gallery storefront, and it's now closed. It is funny though, it is RIGHT downtown NYC, four blocks away from Wall Street. 29 John street! The FT won't show the real pic so we will:
Two blocks away from the beautiful Federal Reserve building, with nice Calder stabiles outside. Once working with an IBM R&D effort in the NEWER Fed plaza part, we watched a Union guy STAND on a pallet of gold bars on a forklift going in to the old Fed!! Why, who knows.
We used to LOVE buying cheap art from a vending machine at some uber hip downtown art cinema. Like the painfully cool movies, the art might be a lot of fun and you kept it or total trash that never made it home. The recent NFT vending machine prices ranged from five to five hundred bucks, so no bored simians THIS week!! Give it time if they are going down 20%+ per month, tho, as the heat from the SEC builds.
note the sticker graffiti starting to come in!! Stock looks sparse. That neighborhood, once the most boring / sleepy in the world, got much rougher lately, the cops would ONLY come out at night and then try not to do too much. The CVS drugstore has turned kinda degen, a LOT of shoplifting. We actually were helped by nice security guards there recently as we started to give up and leave from the long lines and bad company. The guards filled out a form as if they had caught us shoplifting and made us pay!! We were happy to pay and leave! Weird sign of the times.
OK, we love art vending machines too much!! Ok we love ALL vending machines too much, we checked off a bucket list item when we bought and hammered whiskey out of a Japanese vending machine. We missed the era where you could buy oxygen from a Tokyo machine ( tho we did get some at bars.)
Hell, we even loved the Automat fakie food vending machines, we went to the last one left in NYC and the newish ones in Amsterdam. What does this have to do with crypto and NFTs? Not a #(&#! thing, just like, it seems like, most of the Hester interview story!!
OK, Crypto lead headline story, y'all wanna talk Archegos! Let's go there in the name of TradFi Corruption funnies!!
Nothing to do with crypto. Archegos was the private fund of Bill Hwang. The next time someone whines about the biggest crypto hacks in the world - remind them. What, Binance Hub, Ronin, Poly, Coin Check, Mt. Gox - the biggest was maybe 600mm, so all five TOGETHER maybe 3 billion??
THAT's nothing, Bloomberg said Billy lost TWENTY BILLION in two days last year!!! Credit Suisse ALONE lost 4.7 billion ( and the CEO's and CRO's jobs) to Billy!! Maybe Credit Suisse SHOULD be selling their buildings. Billy in 2012 pled guilty to a 44 million dollar insider trading fine. In 2014, Hwang was banned from trading in HK for four years. Really WTF did you EXPECT CS?? Ah hah hah hah hah !!
Still, Judges say no fu's considered, our article rambled off too.
We drove like an idiot all day, failed to complete the mission, gotta go again tomorrow so we gotta snooze.
Peace out!
Love,
Dave
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Inside the Song: the line "my mother god rest her soul" was swiped from "Alone Again, Naturally..." & at the end of the video, those are the REAL moms of the band!!
All around the world, statues crumble for me
Who knows how long I've loved you
Everywhere I go, people stop and they see
Twenty-five years old, my mother, God rest her soul I just wanna fly
Put your arms around me, baby (yeah) Dance a little stranger, show me where you've been
Love can make you hostage, wanna do it again
There's no time to think 'bout the starting or the end
We'll find out I'm told, my mother, she told me so I just wanna fly