FT Crypto watch Sept 24

FT Crypto watch Sept 24


Crypto leaders we love you!! Thanks for sparking a little light into mankind's prospects.   We love joining the burning fire of the hive mind of the Publish0x!  Tho it's really good that Satoshi Nakamoto is Prometheus !  We were thinking we should quit with the Prometheus giving the divine fire / crypto to the common people cuz Prometheus got hammered

We have a correction to make!! Su Zhu's yacht was named Much Wow, not 'wow plenty."  Hard not to add lol.  Abandoned in Italy!! 

Today's crypto in the FT, yay!! 

Crypto won't say crypto: There's about 3.6 trillion circulating pounds sterling, right?? So, if ya lose four pence? off every pound, we lost what that's 0.144 TRILLION ya lost, 144 BILLION melted cuz is it sustainable?  Well no maybe not owie.  But there is that fundamental analytical directional imbalance sayeth the markets.  1047dff7b97c7506d69c6cd3cae567e160c017259d02fe6cda70b80b3f6737bc.pngTLDR: it IS funny, would a UKDAO do any better managing their coin?  With the dollar so strong, that means all the sterling in the world is only about 4 trillion $$.  No wonder the UK tweaked when crypto hit 3 trillion. 

BONUS FUNNY:  Yes, crypto brothers and sisters, we did it!! our love is working and influencing the FT, they are under our thumb, lookit the front page of the FT talkin all about love. Talking bout love!!   The FT sayin Kwasi showed the City, and biz, lots of love.  Only meaningful if it lasts. 

Largest tax cut in 50 years, plus plus plus rates, VAT, alky tax, stamp duty, the FT is frothing.  It's a Kama Kwasi budget YAYY!!! that's sweet.  Not Britannia Unchained, more just Unhinged.  Shadow chancellor Rachel sez Liz n Kwasi are two desperate  gamblers in a casino chasing a losing run!!  That settles it we ARE a casino!!   Hilariously all of this change is packaged as NOT a budget, else it would have to be approved by the Office for Budget Responsibility. Yeaaaaah baby. 

All six feet of Kwasi sticks to his guns, Kwasi goes all honey badger.  It's funny, his job is one a them ten thousand degree seats, if you last more than a year, you are superman, so Liz & Kwasi are going for broke, the FT is right. dd3d6979f1fd5aff14373edec99adff8343acc0ce4e3fc2c9305896016ab5434.png

Honey Badger Kwarteng sez low growth is the danger.  Says constantly ramping up taxes was unsustainable, says the UK is at a 70 year high water of taxes, and lookit Dublin low tax kicking London's arse.  Well no, Kwasi, that's also cause Ireland stayed in the EU and is eating London's lunch from EU companies that need an English speaking HQ. But your hard honey badger heart is there.  Wow, good luck yer gonna need it.  Brexiters rejoice, it's your thesis now!!  Go big or go home, big smile on the square mile / City's face.  Wolf says it's a scandalous, total calamity. 

Crypto that SAYS crypto!! here's the one & only online AND in print!! ! 758dbafc92f6bbe9aebb2e31f5b34195919370de9261f24750945cd54a3993f8.pngTLDR, Letitia is after USDT again.  Gary  promised to work with Congress to get stablecoins done.   When ya have quotes from crypto losers Charley of non-blockchain R3, and crypto hating pro lawyer Charlie, ya know it's a neggy crypto article. 

Lookit Letitia saying it's a LIE!  Hey, that's OUR style lol!!!  Charley  blusters it's a court of law now - Tether says it's routine discovery and claims are meritless.  

Meanwhile there's a draft bill forcing 1:1 funding for stablecoins, but only an act of God gets it out of draft.   The draft also bans algo stablecoins, which is kinda BS, we think at this point the market has already self-selected and will continue to.  This, like the Japanese and EU push, is just a locals only, turf grab prepping for CBDCs cause regs think they understand stablecoins.  Which they might in today's evolution,  but we WOULD REALLY prefer a truly distributed secure stablecoin, with some funds in crypto, if humanly possible. b2d95521c1f4eae12c86e3b247540be19c237f07955b0ba44a6f48ab8230682f.png

PREDICTION:  Tether already paid 20MM to Letitia, she might get more on the second bite at the apple but we doubt it, Tether is paying lawyers now.  TETHER WILL stay a step ahead of the long arm of the law here,  and stay at the top of the stablecoin markets throughout the year.  USDC made sure of that when they forked Tornado so hard!!! 

The REAL STORY: Ah hah ha ha ha not in the freakin FT of course it's not: yes that forking was a bit too hard for the market, Circle: f01c102ff1bb2534fe26fbfb04ea255f6b976abd6031f2092b2a471d7ab8cd5d.png

 

Market forces vs censorship?  Four billion here, four billion there, after a while it's REAL money  ar ar ar .  Remind us, what's the daily float on four billion ?  LOL when ya don't have to flip it in short term T-Bills yet either?  

As of this writing, it's NOW Tether 68 billion to Circle 50 billion, so the spread is widening.  What's that, ANOTHER four billion, what were we saying ar ar ar!!  In fact, Binance BNB is now up at 45 billion, right on your TAIL CIRCLE!  

f82e99f8fc9aaa3e433e76f1d0d4a2aa1438c40ddc251b518d4eb4aa3afcabb8.png We loved this album and only REALLY realized the cover shot location when we were there years later, lol, a sleazy strip of the lower east side.  We once bought a motorcycle sight unseen from the bouncer at Alacatraz a couple of blocks away, a punched out Honda with a  900 big bore kit, sawed off handlebars for city rodding, chrome everything including brake fluid cap.  Not saying the bike was hot but the ignition lock was a chain & padlock ya wore as a belt, cause under the seat was one home wall electric switch - on or off, lol.  The guy that rebuilt that engine died riding.  Probably the only reason we are still around is the ol Hawg Killer, Son of Hawg  cafe raced GREAT (till we broke the quality chain dragging ) but the carb never ran right in WFO in top gear.  Ah, memories.  The bouncer spent the  $$ we gave all on a single tail light for his Harley, which is funny. 

Gotta sleep, peace, 

Love 

Dave

 

 

 

 

 

 

How do you rate this article?

27


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!

Publish0x

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.