"The best way to make your dreams come true is to wake up."
 – Paul Valery

Powered by Forward - Finally, a doctor dedicated to your long-term health

FOLLOW DAT MONEY! $5B

Happy Monday Folks! We are now post hot mess, dumpster fire, train wreck that was FTX and the "I told you so" and "point fingers" game is in full effective. As I mentioned in yesterday's post, the question going forward is "Who can you believe?" VC's? Nay ---> Bitcoin, Bitcoin, Bitcoin.

READ

FTX is now under investigation in the Bahamas for criminal misconduct. In the wake of this disaster is BlockFI which has suspended withdrawals and customers are left feeling confused and angry; not sure why folks were still trusting them after the CeFi collapse - did they think it would get better with Sam Bankman-Friend bailing them out? CZ reveals why deal with FTX collapsed and says the industry is now facing a 2008-style meltdown.

Anthony Scaramucci (aka FTX Investor) is urging Sam Bankman-Fried (SBF) to tell the truth about the FTX debacle. Kevin O'Leary (aka "Mr. Wonderful" aka FTX promoter) is now saying he won't touch anymore Crypto investments until solid "regulation" is in place and oh boy is it coming. Why? Because our wonderful friend in CA-32 Rep. Brad Sherman is calling for increased regulation right along side Mr. Wonderful. Even Michael Saylor agrees that regulation is needed and coming.

Anthony Pompliano (aka BlockFi investor) says confidence game is now over for the Crypto industry. Charles Hoskinson (aka Cardano Creator) agrees with CZ and says more fallout to come; these were the smartest guys in the room. Meanwhile, Vitalik Buterin said SBF deserves everything he's getting from the community right now but also hopes SBF has friends and family that will love him.

If you listen to Nayib Bukele (aka El Salvador President) he says that FTX is the opposite of Bitcoin; Bitcoin was created to prevent all the crap we've seen in the past. Elon Musk (aka Mr. Twitter) says after the fact that his "bullshit meter was redlining" when he talked with SBF. He also said Bitcoin "will make it," but warns it "might be a long winter." 

Meanwhile, $3B in Bitcoin left exchanges this week amid the train wreck and we've got Peter Schiff (aka Bitcoin's Public Enemy #1) saying you should "sell your Bitcoin if you can" to him of course. That is the most ridiculous thing I've read. If you believe him, I've got some swamp land to sell you. In fact, the TD Sequential indicator says it's time to buy. So listen to Saylor and CZ and self custody your Bitcoin. Do not allow it to sit in 3rd party custody.

Lastly, many exchanges are now demonstrating Proof of Reserves (PoR) to ensure customers know they are OK: Binance, Huobi, and Crypto.com. Also note that Binance API was compromised so be aware of scams.

Five Things to Watch this Week:

• Crypto braces for fresh FTX fallout
• Bitcoin bounces from $15,700 as Musk puts faith in BTC
• Quiet macro week sees focus on stocks correlation
• "Buy the dip" fever hits as miner sales slow
• Sentiment data offers a modicum of hope

WATCH

LISTEN

Podcast of the Day: SLP433 v2 P2P Transport Protocol for Bitcoin Core (BIP324) with Pieter Wuille Dhruv and Tim Ruffing (Stephan Livera Podcast)

WEEDS

Trending

• Ethereum Co-Founder Vitalik on Former FTX CEO: ‘Sam the Human Being Deserves Love’ (Cryptoglobe | CryptoPotato | BIC | Cointelegraph)
• Elon Musk is confident Bitcoin ‘will make it’, but warns it ‘might be a long winter’ (Finbold | UToday | Cointelegraph | Cryptoglobe | BM)
• Crypto.com accidentally sends 320k ETH to Gate.io, recovers funds days after (Cointelegraph | CryptoPotato | BIC)

FTX Catastrophe

• Binance will launch a new ‘industry recovery fund’ (TB | Cointelegraph)
• Wall Street Venture Capitalist Are as Smart as Crypto Newbies (BIC)
• Visa Terminates FTX Debit Card Program (CryptoPotato)

     Opinions

• CZ and Saylor urge for crypto self-custody amid increasing uncertainty (Cointelegraph | Coindesk)
• Binance CEO Changpeng Zhao Reveals Why Deal With FTX Collapsed, Says Industry Now Facing 2008-Style Meltdown (TDH | Cryptoglobe)
• El Salvador President Bukele says Bitcoin is ‘the opposite‘ of FTX (Cointelegraph)
• Shark Tank’s Kevin O’Leary Says FTX Investment Went to Zero, Needs Regulation To Happen Before Touching Crypto Again (TDH)
• Bitcoin Bull Anthony Pompliano Says Confidence Game Now Over for Crypto Industry (TDH)
• Cardano (ADA) Founder Charles Hoskinson Issues Warning, Says FTX Collapse Will Bring More Fallout (TDH)
• Skybridge Capital CEO Anthony Scaramucci Urges Sam Bankman-Fried To Tell Truth About FTX Debacle (TDH)
• MicroStrategy Co-Founder Michel Saylor on How Collapse of FTX Will Impact Crypto Space (Cryptoglobe)
• Elon Musk says his ‘bullshit meter was redlining’ when talking with FTX’s Sam Bankman-Fried (Finbold)
• Rep. Brad Sherman asks for increased regulation, calls out 'billionaire crypto bros' (TB | Cointelegraph)
• $BTC: Why Peter Schiff Believes You Should ‘Sell Your Bitcoin if You Can’ (Cryptoglobe)

     Legal

• FTX under investigation in the Bahamas for criminal misconduct - Report (Cointelegraph | Coindesk)

     Exchanges

• $3 billion in Bitcoin left exchanges this week amid FTX contagion fears (Cointelegraph)
• Huobi reports on asset transparency, totals $3.5 billion in hot and cold wallets (TB | Coindesk)
• All Custodial Crypto Exchanges Should Adopt Proof-of-Reserve Programs, but Even That Isn’t Enough (Coindesk)
• Crypto.com CEO claims FTX exposure was limited to $10 million (TB)

BITCOIN

• Indicator That Called the 2020 Bitcoin Crash Says It’s Time to Buy BTC (BIC)

CARADNO

• $ADA: What IOG Is Doing To Help ‘Unlock Micropayments on Cardano’ (Cryptoglobe)
• Cardano wallets growth accelerate adding 30,000 in a week amid FTX collapse (Finbold)
• Cardano (ADA) Price Is in Critical Condition and at Risk of Collapse (BIC)
• Even As Whales Offload ADA, Cardano Could See Huge Price Boost If This Happens (ZyCrypto)

LEGAL BATTLES

• Ripple v. SEC: Fund Flows into XRP Signal Change in Investors' Mood (UToday)
• CrossTower revises new offer for Voyager's assets after FTX's bankruptcy (Cointelegraph)
• After BlockFi pauses withdrawals, customers are left confused and angry (TB)
• Payments company Curve bids for BlockFi's 87,000 credit card customers (Cointelegraph)

ATTACKS/HACKS/SCAMS

• Hack Alert: Binance's API Compromised, Here's What You Need to Do (UToday)

PODCASTS

• Nov 12: All The Dominoes Will Fall (Decrypt Daily)