One hour ago, someone donated 80 BTC (more than $3 million) in one transaction to a charity organization supporting the Ukrainian military.
blockchair.com/bitcoin/trans…
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Rumors about 3AC margin called, Celsius illiquid and done, Terra blew up, a lot of funds lost like 90% of their capital, Coinbase firing 20% of all employees.
How much worse can things really get anon? This is oof city
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If Metamask/Infura is open and willing to block countries like Venezuela by IP addresses, it's only a matter of time until they are forced by regulators to censor individual people's IP addresses. We need alternatives immediately, hoping that Alchemy and others don't do this
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Steph Curry bought this ape 30 minutes ago for 55 ETH (~$180k).
His address: etherscan.io/address/0x3becf…
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A network with $10 billion of value on it has been down for 7 hours now. That's a first!
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Damn so I finally made myself download TikTok and check some of the most liked videos with crypto tags and it's so much fucking worse than I could have even imagined. I feel like I need to disinfect my eyes. So many of them have 100k+ likes
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1/ It's hard not being optimistic when looking at what's been happening in crypto in the last few months. Narratives are important but data always tells the story much better. I spent a long time to put together this thread to illustrate the growth so please spread it!
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I track 100+ ETH wallets belonging to crypto funds to see how and what they are doing.
Total holdings in March: $14.8B
Total holdings now: $2.2B
So funds are down roughly 85% on-chain. It's by no means fully comprehensive but a good enough sample to show some trends
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Elon’s tweets moving Bitcoin 5% in both directions in minutes. Not too happy about that
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There is a rumor spreading about Jump, Alameda, etc. providing another $2B to “bail out” UST. Whether this rumor is true or not, it makes perfect sense for them to spread. The biggest question here is, even if they can get it to $1 by some miracle, the trust is irreversibly gone
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The details I have heard but might not be final:
- Jump, Celsius and Jane St. committed already, Alameda not yet
- targeting $1B - $1.5B raise
- 50% discount to LUNA spot with 1yr lock + monthly linear vest over 1yr
- total of ~$700M in commitments as of morning
SCOOP: Luna Foundation Guard seeks more than $1 billion to shore up UST stablecoin: sources
by @fintechfrank
theblockcrypto.com/post/1459…
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For the sake of transparency, I'm releasing my entire database of all wallets labeled as Alameda.
1. Total on-chain balance decreased by $230M in the last month (47% decrease)
2. Most of the funds were deposited to FTX and Genesis
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Became the first-time dad today of the most beautiful little girl. The best feeling I've ever experienced ♥️👶 bull market baby born into a bear market
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Coinbase S1 notes:
• $3.4 billion in total revenue until 2020
• largely from transaction fees (96% of net revenue)
• net income of $322.3 million in 2020, net loss of $30.4 million in 2019
• 43M verified users
• 2.8 monthly transacting users
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Good morning boys 🤝
This time next year I predict there will be hundreds of assets running on Cardano, thousands of DApps, tons of interesting projects and lots of unique use and utility. 2021 is going to be so much fun watching Cardano grow and evolve. The community is definitely ready to innovate
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Everyone who I hung out with in Miami got covid. Luckily for me I hung out about one feet above everyone
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Last few months really can’t get much worse. Got fucked by FTX (after naively trusting them like a complete idiot) and now also got fucked by the CEO. Just like everyone else at The Block, I just found out about this.
[DB] The Block: CEO Michael McCaffrey Resigned After Failing to Disclose a Series of Loans From SBF’s Alameda Research. He Was the Only Person With Knowledge of the Funding at the Company.
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More than $2.6 billion worth of positions liquidated in the last hour. Most on Bybit as usual. $1.1B in BTC, $700M in ETH. If you ask me, a perfectly healthy leverage flush. Funding rates on alts were spiking too much
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Some bottom signals are starting to hit:
1. funds getting blown up
2. forced selling of alts and 95% crashes
3. USDT irrational panic
Feels like capitulation all morning. Macro can keep rugging so who knows though
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1/ This crazy year is almost over and so it’s time to do a little retrospective. This 150-page report is full of charts, timelines, infographics, maps, etc. It’s the work of 30 research analysts we now have at The Block. Let’s dive in:
Download here: tbstat.com/wp/uploads/2021/1…
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HAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHAHA
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Coinbase just dropped the Q1 earnings and outlook. As expected higher revenue than in the entire 2020.
Q1 summary:
• ~$1.8 billion revenue
• Adjusted EBITDA of ~$1.1B
• Net income of $730-800M
• 56M verified users (+13M)
• 6.1M monthly transacting users (+3.3M)
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This has been probably the craziest few days in crypto for me right after the covid crash. Absolute insanity happening. In the next few weeks, we will start finding out about the actual consequences of these few days.
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All-time high of Bitcoin on different exchanges:
• Gemini - $19,999
• Coinbase - $19,892
• Bitfinex - $19,891
• Huobi - $19,867
• Binance - $19,799
• BitMEX - $19,777
• Bitstamp - $19,666
• Kraken - $19,660
Which one are we going by?
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We've just seen more than $1 billion worth of liquidations in the last 30 minutes. People never learn and keep over-leveraging like crazy.
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Some personal news after a much-needed Twitter hiatus. Today, I'm stepping into the CEO role at The Block. I’m also excited that @EvgenyGaevoy is joining the board, and together with the team, we'll work to strengthen our position following a challenging year.
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The first Bitcoin ETF just painted a beautiful and very common fuck you pattern also known as Burj Khalifa. Welcome home
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Because I'm incredibly autistic, I exported all the Alameda investments (more than 470!) from the FT piece. The total amount invested is roughly $5.3 billion.
The largest investments are:
1) Genesis Digital Assets
2) Anthropic
3) Digital Assets DA AG
4) K5
5) IEX
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I love Ethereum and it’s still the largest portion of my portfolio along with Bitcoin. But if you swap Solana for Ethereum in ETH people tweets, it sounds exactly like how bitcoiners sound and exactly what those people used to make fun of.
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The absolute state of the market right now. Most top 100 coins are down more than 75% from ATH
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In the interest of transparency, I am releasing my database of all wallets that I believe belong to Celsius.
Currently, there is still roughly $1.5billion sitting on them.
Also please keep in mind that on-chain labeling is not an exact science. I could have made some mistakes
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We are slowly but surely approaching the territory where exchanges might have to deploy the famous "We're performing an unscheduled maintenance" card all at the same time 🫡
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This is massive news. The amounts seized by the Chinese police:
- 194,775 BTC (1% of circulating supply)
- 833,083 ETH (0.73% of circulating supply)
- 1.4 million LTC
- 27.6 million EOS
- 74,167 DASH
- 487 million XRP
- 6 billion DOGE
- 79,581 BCH
- 213,724 USDT
NEW: Chinese police have seized $4.2 billion cryptos from PlusToken Ponzi crackdown, according to a new court ruling (via @wolfiezhao) theblockcrypto.com/post/8587…
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Got into Miami last night, super tired after 20 hours in the air, go to dinner, and then to sleep. Woken up by an active shooter right outside of our hotel. Police cars and helicopters still here so can't even leave the hotel room. GM
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Rumors of FTX being hacked, which is spreading like wildfire, are fake. Don't pay attention to it
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Uniswap absolutely unusable at the moment. Stop being poor sure but paying nearly $100 for a $4k swap just makes no economic sense. Noobs come and see this and just get annoyed honestly.
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It feels like we are running out of of possible negative news to hit this market. What else can even happen at this point?
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It's absolutely wild to me that a $130M+ exploit can exist and not be exploited for like a year. That's scary as shit, how can DeFi devs even sleep?
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These are the CEOs at the two largest exchanges in the space. One is responding to a fake JKR tweet with a not so convincing pitch to sell shitcoins. The other one posted the biggest cringe I’ve seen in years but at least managed to respond to the right account. Speechless
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Looks like every mainstream news outlet is working on a story about COVID and Miami. There have been so many better things to focus on, this is a joke
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I follow Solana closely but this is absolute cringe. Really disappointed about this direction and the message of this promotion.
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Doesn't get much more brutal than this to be honest. Most have dropped this much in less than two weeks
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Throwback to this gem, which happened right around breaking the $20k ATH. Amy was absolutely clairvoyant as always
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Can’t have it both ways. CZ is constantly flexing how Binance’s listing team does the most due diligence and how its listed projects perform the best. When it doesn’t work - “we are only providing access to liquidity so other exchanges don’t make us obsolete” LMAO
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But if anyone told me this last year, I'd call them absolutely insane. Like the combination of things that happened in the last two months is absolutely batshit crazy and there is no stopping
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This is too good not to share. Money printer go BRRR colorized.
Source: v.redd.it/hv87ox7d40r41
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Coinbase dropped some great customer segment data today in the S1. If this chart doesn't make you bullish then you are a lost cause and HFSP.
Volume top in Q1 2018 - 80% retail
Volume top in Q4 2020 - 36% retail
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Alright, let's do some ATH porn. On April 14, BTC reached:
Coinbase: $64,899
Bitstamp: $64,895
FTX: $64,887
Binance: $64,854
OKEx: $64,847
Huobi: $64,843
Bitfinex: $64,829
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XRP skyrocketing by 80%+ in one day is the reason why this market desperately needs regulation. Fundamentally nothing about XRP changed in the past 24 hours and yet, here we are. Pumping a multi billion market cap asset in the matter of hours is the definition of manipulation
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Bear posting seems to be back and the market looks to be flimsy. I don't really know what will happen short term but I just want to say that looking at previous bear markets and thinking it will be a multi-year one again will almost surely be wrong. Very different dynamic now
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This dumbass token SHIB and all exchanges listing it really set a bad precedent. Now these new SHIB copycats are quite literally rekting Ethereum's gas fees. Look at the most recent blocks and transactions with the highest gas. It's all these meme tokens
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BREAKING: Binance is now going to be competing directly against Coinbase by allowing users to buy BTC, ETH, LTC and XRP with credit/debit cards.
theblockcrypto.com/2019/01/3…
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Internet has been down in Kazahstan for a few hours where roughly 18% if Bitcoin's hashrate is.
Looks like the impact on the hashrate is so far 12% drop just in the last few hours since internet went down.
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We all know BSC is not going to threaten Ethereum long term but it absolutely amuses me when Ethereum people start sounding just like Bitcoiners bitching about Ethereum. Just chill, take a breather and let the incentives play out 🤝
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LUNA is below $0.05 and literally just providing exit liquidity to UST holders - and there is infinite amount of bad debt. And even then it’s “only” at 50 cents. Liquidity will start drying up soon at these rates and Terra effectively has to reverse the decision anyway
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CT flip-flopping sentiment based on what stocks are doing is hilarious. Multi-year bear market three days ago and today up only again.
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I am proud of the 30+ person research team I built and will keep going with the new The Block leadership. It all really fucking sucks and I’m completely exhausted. Will be doing what truly matters and that’s less Twitter and more time with my 4 month old daughter and my wife.
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Holy shit this is huge
Tim Cook of Apple reveals that he has personally invested in cryptocurrency. “I think it’s reasonable to own it as part of a diversified portfolio,” he said at the #DealBook Online Summit. nytimes.com/2021/11/09/busin…
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You'd think that the market wouldn't get spooked by the same news again and again. But somehow it does
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Coinbase recorded record daily volume yesterday of $9.56 billion. Just to illustrate how crazy that amount is, that's more than the total volume for Q1 2019. Also larger than the total volume for January last year.
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Really difficult to be in the “failed experiment but at least they tried” camp when there is still no info about hundreds of millions of BTC in the reserve. Twitter accounts look like they have been taken over by lawyers. CT really should put more pressure into getting info ASAP
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Luna Foundation Guard's wallet just sent $231M to Binance. First such transaction in a week and larger in size than the previous ones
etherscan.io/tx/0x8ffac2727d…
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We've seen $1.3 billion in long positions liquidated on this dump from $51k to to $42k. Keep in mind this number is likely undercounted because of Binance and Bybit limiting liquidations data. First massive liquidation in a while
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I did it. Defied all odds and proved that even slightly stupid llamas have a chance to get engaged to the love of their life. 💍🥂🥳
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Just a reminder to use secure VPNs by default when interacting with crypto. Ideally also using a local node with MetaMask or other wallets but not many people will do that obviously. Most importantly let's put pressure on wallets to not do this shit. They should be neutral
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I've refrained myself from making fun of these overconfident people who probably lost it all the last few days. But when you're a complete piece of shit who gets humble smacked by the market so badly his wife might leave him I can make a few exceptions
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This is the most insane SC hack I have seen yet:
• Took 6 days to notice that more than half a billion was missing
• The hacker deposited some funds to FTX and Crypto com (either doxx'd or bought KYC'd account)
• solution - instead of 5/9 multisig, we do 8/9
BREAKING: Axie Infinity's Ethereum sidechain Ronin hit by $600 million exploit (by @mpmcsweeney)
theblockcrypto.com/post/1397…
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One of the most powerful things about crypto is that once you are involved, you are hooked and almost no one ever leaves.
Putting together an event like yesterday and having hundreds of people fly in from around the world is just not possible elsewhere.
It's just incredibly fun
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Can we quickly talk about how the fuck did astrology do a better job being ready for today than 99% of traders? We are living in a simulation
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Spencer Dinwiddie (@SDinwiddie_25), Brooklyn Nets NBA player, is tokenizing 40% of his $34M 3-year contract and is also releasing a platform for other athletes to do the same. I think this is actually a bigger deal than people realize. Or maybe I'm just excited about NBA & crypto
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