FT crypto watch WEEKEND!! Aug 28

FT crypto watch WEEKEND!! Aug 28


Cryptokin and cypherpunks, we love you.  Web3 lovers, we adore y'all!  Thanks for gathering on the banks of the crowdsourced river of the Publish0x.  We love to be here with y'all,  treasure every day, and we all need everyone's help to get up and over the fiat hump. Are y'all up for the down stroke!?!? Hit it Bootsy. 

The glory of the salmon lady on a Weekend!!  Plenty of crypto won't say crypto.  Home fuel bills inflated 80%!! Zow.  

Powell update: he did come out talking tough, like the FT done told him to.  Now will he stay ACTING tough like Gill said he should?  Powell referenced Volcker's iron fisted rate hikes, namechecking "Keeping at It" (the title of Volcker's autobiography) twice.   PREDICTION:  Powell will NOT keep raising rates.  He will pretend that holding them where they are is tough enough. 

The next PM is heading for a world of inflation hurt.  There will be "winter deaths" from cold and hunger. 0da58694c4d2b943be9b645f7eebb76d5608fe47154851a8ab650c76aa1c2585.png

An ex central banker, Raghuram, says central banks are the best of all possible central banks.  They should be given MORE MANDATES to do as they see fit!!!  Yeaaaah no. 

Rich people's problems !!  James is serving Mickey D's with domestic fizz. Sign of the hard times!!   Store bought guac still makes you a lowlife, James, buy yer own $(&$#(* avocados or don't have guac. 

Newish ways of cooking inflation numbers!  Hedonic means even tho your PC costs 16% more, it is so much better, that in the UK's ONS CPI it now costs 2% less.  Dunno about that one.  A new cell phone costs a LOT, is it really that much better??  The US has been doing this for a while, which figures. 

Claer, the FT's consumer editor, calls for urgent political intervention on energy price shocks.  Claer, didn't you read how the third undersecretary for the BIS and the IMF  wants pols to pass 100% of energy costs straight on to the people??  Don't get out of line there sister. 

Lovely, lovely FT, her pinkness is impeccable. 205907e2da49554f26b948c10174d2d7d99690986aebdadc99e10a0490de4197.pngAn interview with Jennifer Egan, who wrote the stunningly complex and yet simple "Goon Squad." 

Ganesh's Citizen of Nowhere points out some harsh truths - the new PM candidates are the same person, they WILL lose re-election.  Popular "Leveling up" program in the UK is a cruel joke the capital plays on the hicks.  LMAO!!  b3b259b9bd7a143318d5f6cad99a45af76fdd5064fc386a178c5fecccc98e575.pngWow, dude, never do we hear Euro's admit this - Liverpool/Manchester should be more like Dallas/Ft.Worth.  Like PLANO!!! AH AH HA HA HA HA ha hah haarggh hardy har har.  The Green Belt on London is a disaster.  Huh, the one in Houston works ok for flood mitigation.   Janan doesn't stop when he's HOT.  The UK aint all that rich!! AND little britain WILL go crawling back into the EU!!  In a bad deal!!  Which is funny since the EU blew the first, best offer, before taking and then breaking the second, worse one.   

Ahh, love it, would actually like to see this guy speak.  Wow, stomping op ed.  Go pink lady go. 

For Crypto that SAYS crypto today, we have the decentralised (sic) (lol) finance weekly column!  Yayy!!! 3d9ddb661ba75ee084887f1ffad2a4c932bf290c713dd9f437aa1b96405b69e5.pngFirst up - Tornado ! TLDR: Crypto utopian DeFi collapses for OFAC.  Blockchain analysts TRM and Chainalysis see 600% increase in queries.  Binance CZ told the FT back in March Ofac is no joke, don't do this well, end up in jail!!!   

Justin Sun was briefly blocked from AAVE when T cash sent his doxxed wallet 0.1 ETH.   US sanctions cut access to the biggest financial system. 

Congressman Tom sent a letter to OFAC saying WTF.  Expectation of privacy is neutral. 

The REAL story:  horrible cheerleading for someone else's gummint to hardline against free speech.  We hope we would never feel that way about, say, China.   A hidden FUNNY!! Dear readers remember  the FT totally missed the hilarity when T-cash dust attacked a huge list of doxxed wallets.  Instead, the FT published a snitty "Tornado cash did not respond" when the DUST  WAS their response!!  Here we see the correction / update.  NOT in the FT (and should be) - TRM is the REASON Sun, and many others, got banned when TRM offered  auto banhammering of any addresses that touched (or were dusted by) Tornado!!  

It's very funny - Tornado continues to run just fine, embedded as smart contracts on the ETH mainnet. Some front end options were removed, some came back, but criminals 100% have access to services right now.  Volume went UP a bit, then dropped, but still there.  What's funny?  The only real victims right now are any  innocent, US abiding, USDC believing citizens who wanted privacy.  Will they ever get their funds back?? 

We really want to lob an FU or two but judges deny.  Congressman Tom's letter is funny.  Asking impossible questions like do y'all even realize Tornado is still running?  Is all distributed code illegal now?  TECHNOLOGY IS NEUTRAL damnit!!  

 

Next up, a cringeworthy Tory bromance, complete with receding Brit hairline and bad build. e45d383ce676168455a624817544be84db8aad8d68a9062f990f96a550827b4d.pngMatt Hancock looks just like Jason Statham.  On the surface, it's kissing up.  Underneath?   Matt once brought CZ into Parliament. And Matt said things like London should be pro crypto after Brexit.  For which thought crimes, the FT has crucified him.  Is this more?  who knows, who cares.   It IS clear that any idiot that unironically thinks these childish, 1980's graphics are acceptable, let alone "Hunky, " has NOT spent any time playing AC in the last many years.  Even trying to account for brit "taste." 

A  meh  Coinbase interview but without a transcript, who knows for sure, not us.   The FT gets in a crypto dig at Coinbase for hoping to diversify. 

Broken Arrows Kyle and Zhu are starting to cooperate.  We bet THEY have been researching privacy coins very intently recently. b276480423440cbb1ac106c731fa0c693b4d66041354d9f743c2dc4a2bf27372.png

Hong Fang, CEO of OKCoin, laughs at marketing spends of other crypto exchanges last year.  Works in a bull market, not a bear one. 

The REAL story:  OKCoin is OKex, which is THE crypto exchange of the universe, dwarfing all around.  Not in the FT, should be:  In March of this year, OKex refused to ban Russian crypto trading.  Sorry, OFAC.!!??!!??  

At the same time  OKX sponsored MacLaren F1 racing AND cut a deal with Manchester FC ( for ($&#@(*$&#s sake!!). That's all funny. & relevant to this story.   But Fang can laugh at whoever he wants, that's clear. OKX fled China, where they are internet banned, but still have large dev efforts there.  Go figure.  We bet the elite still use him. 

We want an official FU to the FT for not mentioning OKex ignored OFAC about Russia.  Judges shout us down, though, since Fang gave up a quote. lol. ae6723944fcaeea35d990e7448c0a4964003297e0419ab66728e68fd6dc1b626.pngThe FT will cheer a danish programmer getting thrown in jail, but not ask OKex how they felt about ignoring OFAC sanctions.  Punch down like that much?? 

Everybody UP for the down stroke!!??! yes baby yes!! Have the great Weekend.  We gotta go check if we understood the chess puzzle. 

Peace, 

Love, 

Dave

 

 

How do you rate this article?

18


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.