Riding The Wave

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Riding The Wave
Riding The Wave
Riding The Wave News Summary 105

Riding The Wave News Summary 105

Crypto Giant Binance Offers Little Transparency After FTX Collapse, Bitcoin Addresses Tied to Defunct Canadian Crypto Exchange QuadrigaCX Wake Up, & more.

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Thomas Holland
Dec 22, 2022
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Riding The Wave
Riding The Wave
Riding The Wave News Summary 105
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Welcome to Riding The Wave. If you have questions or feedback, please reply to this email. If you are new to the Newsletter, please check out what we provide on our about page and consider subscribing. Within the Newsletter, I provide News Summaries, Weekly Status Updates, & Deep Dive Articles on Specific Topics (Ex: How do I pick which coins/tokens to buy?). More details here


News

Table of Contents

  1. Tweets

  2. Crypto Giant Binance Offers Little Transparency After FTX Collapse

  3. Bitcoin Addresses Tied to Defunct Canadian Crypto Exchange QuadrigaCX Wake Up

  4. DeFi Project Popsicle’s ICE Token Triples as Controversial Wonderland Founder Returns

  5. Alaska adds ‘virtual currency’ to its regulatory regime


Tweets

Twitter avatar for @Mr_Derivatives
Heisenberg @Mr_Derivatives
The definition of the “Santa Rally” for those who are misinformed (myself included since I got it mixed up with seasonality in prior posts)…
Image
1:35 AM ∙ Dec 19, 2022
143Likes17Retweets
Twitter avatar for @milesdeutscher
Miles Deutscher @milesdeutscher
In the future: If you ever feel FOMO: think back to 2022. If you ever feel euphoric: think back to 2022. If you ever feel like things can’t possibly go wrong: think back to 2022. This year will give you all the lessons you’ll ever need.
2:43 AM ∙ Dec 18, 2022
898Likes109Retweets
Twitter avatar for @unusual_whales
unusual_whales @unusual_whales
The S&P 500 hasn't bottomed before a recession since WWII, per CNBC.
3:01 AM ∙ Dec 19, 2022
1,516Likes174Retweets
Twitter avatar for @WatcherGuru
Watcher.Guru @WatcherGuru
JUST IN: #Binance US agrees to acquire assets of bankrupt #crypto lender Voyager Digital.
1:13 PM ∙ Dec 19, 2022
5,567Likes937Retweets
Twitter avatar for @investvoyager
Voyager @investvoyager
After a review of strategic options focused on maximizing value returned to customers on an expedited timeframe, @BinanceUS has been selected as the highest and best bidder for our assets. Press release below. More information to follow for customers.
prnewswire.comVoyager Announces Agreement for Binance.US to Acquire Its Assets/PRNewswire/ -- Voyager Digital Ltd. (“Voyager” or the “Company”) (OTC Pink VYGVQ; FRA: UCD2) announced today that its operating company Voyager Digital LLC...
2:00 PM ∙ Dec 19, 2022
1,265Likes312Retweets
Twitter avatar for @TradingThomas3
Tom @TradingThomas3
$SPY down $Vix down 🤦‍♂️
4:44 PM ∙ Dec 19, 2022
540Likes27Retweets
Twitter avatar for @thedefiedge
Edgy - The DeFi Edge 🗡️ @thedefiedge
90% of Crypto success is being able to manage your own emotions. This means: • Taking profits when everyone's dreaming about Lambos • Feeling FOMO but sticking to your systems • Not selling at the 1st signs of FUD So many people are incentivized to manipulate your emotions
5:05 PM ∙ Dec 19, 2022
366Likes65Retweets
Twitter avatar for @blockworksres
Blockworks Research @blockworksres
Donald Trump's 45k piece NFT collection, which minted for $99 per item, reached a peak floor price of over $1k on Saturday. However, the collection has been accused of using stock images from the internet and the admin wallet minted 1k pieces for free prior to public mint.
Image
7:08 PM ∙ Dec 19, 2022
119Likes16Retweets
Twitter avatar for @WallStreetSilv
Wall Street Silver @WallStreetSilv
Someone is using the Fed Discount Window. They can go years without that being touched. It is a sign of banking stress. Who is in trouble?
Image
7:24 PM ∙ Dec 19, 2022
1,938Likes425Retweets
Twitter avatar for @LastBearStandng
TheLastBearStanding @LastBearStandng
1. Something strange is happening - people are starting to borrow from the Fed! This only happens in moments of significant liquidity stress - like 2008 or 2020. But supposedly the market is "awash" with excess liquidity right? So what is going on?👇👇
Twitter avatar for @tracyalloway
Tracy Alloway @tracyalloway
Don't look now but someone's been tapping the Fed's discount window. https://t.co/YDnNloCUqF https://t.co/3qMRCuiops
7:08 PM ∙ Dec 19, 2022
1,360Likes338Retweets
Twitter avatar for @ZeroHedge_
Wick @ZeroHedge_
Elon was asked live what gap Bitcoin has that draws him to DOGE instead After stuttering for 10 seconds, his answer was that a friend told him the most ironic & entertaining outcome is the most likely So a coin that was started as a joke is the most ironic and entertaining 🤦🏼‍♂️
5:22 PM ∙ Dec 17, 2022
224Likes12Retweets
Twitter avatar for @KobeissiLetter
The Kobeissi Letter @KobeissiLetter
For decades, the definition of a recession has been at least 2 consecutive quarters with negative GDP. A recession in 2023 would mark the third recession in 3 years: 1. Q1 - Q2 in 2020 2. Q1 - Q2 in 2022 3. Q1 - Q2 in 2023? We may be approaching something unprecedented.
2:41 PM ∙ Dec 18, 2022
359Likes68Retweets
Twitter avatar for @Plumferno
Plum @Plumferno
Okay, seems that a friend of mine spilled the beans to someone here on Twitter. As a result, a few hours ago a thread was posted about this whole Trump NFT thing. >.< It's missing some key info, however, so I'm gonna fill in the blanks best I can. Hold on to your hats, folks!
12:08 AM ∙ Dec 20, 2022
345Likes74Retweets
Twitter avatar for @GiancarloChaux
Giancarlo @GiancarloChaux
Reddit launched another free NFT collection 5 days ago called Recap 2022 it already has 1.3 million owners probably nothing
Image
2:55 AM ∙ Dec 20, 2022
588Likes81Retweets
Twitter avatar for @therationalroot
Root 🥕 @therationalroot
Current bear market vs. longest streak below realized price. #Bitcoin
Image
3:05 PM ∙ Dec 20, 2022
363Likes79Retweets
Twitter avatar for @DylanLeClair_
Dylan LeClair 🟠 @DylanLeClair_
andherewego.gif
Image
4:00 PM ∙ Dec 20, 2022
572Likes65Retweets
Twitter avatar for @WallStreetSilv
Wall Street Silver @WallStreetSilv
Housing market recession signal 🚨 Insider selling in Airbnb… >$2 billion sold… not a single share bought…
Image
5:45 PM ∙ Dec 20, 2022
1,819Likes396Retweets
Twitter avatar for @WatcherGuru
Watcher.Guru @WatcherGuru
JUST IN: FTX new management says the company has located over $1 billion in assets, including $720 million in cash.
6:22 PM ∙ Dec 20, 2022
12,918Likes1,665Retweets
Twitter avatar for @100trillionUSD
PlanB @100trillionUSD
Tick tock, next block 768,247 .. next halving = block 840,000
Image
6:13 PM ∙ Dec 20, 2022
2,776Likes365Retweets
Twitter avatar for @callieabost
Callie Cox @callieabost
HOW THIS S&P 500 BEAR STACKS UP AGAINST OTHER BEARS (since 1950)🐻 🛣 LENGTH: 1 year (avg length: 14 months) 🌊SIZE: -26% (avg decline: 36%) 🎢AVERAGE DAILY MOVE: 1.2% (avg move: 0.9%) 😱RECESSION: no (just like 3/10 bears since 1950)
9:56 PM ∙ Dec 20, 2022
37Likes10Retweets
Twitter avatar for @LiebermanAustin
Austin Lieberman @LiebermanAustin
Legendary investor Howard Marks just released a new memo. “In my 53 years in the investment world, I’ve seen economic cycles, manias and panics, bubbles and crashes, but I remember only two real sea changes.  I think we may be in the midst of a third one today.” My Notes…
10:40 AM ∙ Dec 20, 2022
9,546Likes1,549Retweets
Twitter avatar for @DefiIgnas
Ignas | DeFi Research @DefiIgnas
1/ End-of-year review of algorithmic stablecoins 🧵
8:09 AM ∙ Dec 21, 2022
422Likes125Retweets

Crypto Giant Binance Offers Little Transparency After FTX Collapse

The collapse of the crypto exchange FTX has triggered calls for transparency in the industry. To many investors, the industry’s biggest player, Binance, remains a black box.

Crypto exchange Binance processes more transactions than most of its rivals combined, accounting for roughly half of crypto spot trading and two-thirds of derivatives trading, according to the research firm CryptoCompare.

Like FTX, Binance discloses limited financial information. It doesn’t say where the company is based. And its founder, Changpeng Zhao, is affiliated with market makers providing liquidity on its own platform, an arrangement some market observers say leads to a potential conflict of interest.

“Does the exchange give preferential treatment to an affiliate? Is the exchange supporting an affiliate with customer money? These questions concern customers and the regulators who try to protect them,” said Larry Harris, a finance professor at the University of Southern California’s Marshall School of Business and former Securities and Exchange Commission chief economist.

Adding to investor worries, an outside audit firm that Binance brought in to report on its reserves recently said it was suspending its work for crypto firms.

Binance.US told the Journal at the time that the exchange had robust data protection and that U.S. customer data was stored on servers in the U.S.

“Binance does not operate in China nor do we have any technology, including servers or data, based in China,” Mr. Hillmann said.

The SEC was examining the relationship between Binance.US and two trading firms with ties to Mr. Zhao, the Journal previously reported. The firms serve as liquidity providers for the platform, and while Binance says on its U.S. website that affiliated market makers might trade on the exchange, it doesn’t name which firms might do so.

Mr. Zhao acknowledged that he is an investor and shareholder in one of Binance’s market makers. But he said that the sole purpose of that entity, which he didn’t name, is to provide liquidity and that it doesn’t make profits. “We are not trying to make money from trading ourselves,” Mr. Zhao said.

Full Article


Bitcoin Addresses Tied to Defunct Canadian Crypto Exchange QuadrigaCX Wake Up

More than 100 bitcoins tied to the defunct Canadian crypto exchange QuadrigaCX were transferred out of cold wallets thought to be beyond anyone’s control over the weekend, after sitting dormant for more than three years. The company's bankruptcy trustee, Ernst and Young, did not initiate the transfers, CoinDesk has learned.

QuadrigaCX went bankrupt in 2019 after the apparent death of founder and CEO Gerald Cotten. At the time of its collapse, Quadriga was believed to have owed thousands of customers nearly $200 million in various cryptocurrencies – a staggering failure for what was once Canada’s largest crypto exchange.

EY, which is acting as the trustee for Quadriga’s estate, announced in February 2019 that it lost control of about 100 BTC after mistakenly sending the coins to Quadriga-operated cold wallets that the Big Four financial services firm said it couldn’t access. At the time, the bitcoin was worth around $355,000 (C$470,000).

Full Article


DeFi Project Popsicle’s ICE Token Triples as Controversial Wonderland Founder Returns

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