Riding The Wave News Summary 82

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News

Table of Contents

1. Tweets

2. ‘Better Tech’—A Legendary Google Billionaire Is Backing A Radical Bitcoin And Ethereum Rival Despite Huge $2 Trillion Crypto Price Crash

3. Facebook, Instagram Users in US Can Now Share Ethereum, Flow and Polygon NFTs

4. Maple Finance Aims to Be the Shopify of Crypto Lending

5. Throw your Bored Apes in the trash

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Tweets

Bitcoin Archive 🗄🚀🌔 @BTC_Archive

BREAKING: 🇪🇺 EU cancels KYC requirement when transferring Bitcoin to a private wallet. Good! 🤨

unusual_whales @unusual_whales

Interesting. The Fed has a meeting for Monday that they are holding under “expedited procedures”. Here are the details: “closed meeting of the Board of Governors of the Federal Reserve System at 11:30 a.m. on Monday, October 3, 2022, will be held under expedited procedures”

Sven Henrich @NorthmanTrader

Must be time for a Fed emergency board meeting… federalreserve.gov/aboutthefed/bo…

unusual_whales @unusual_whales

October tends to be a “bear-market killer”, known for its historically strong returns, especially during midterm election years, per MarketWatch.

Bitcoin Archive 🗄🚀🌔 @BTC_Archive

JUST IN: Investors are selling their Pounds and Euros to buy Bitcoin in record numbers - Messari Probably nothing…

Plan©️ @TheRealPlanC

Well said by @CredibleCrypto 👀 #Bitcoin #Crypto

CrediBULL Crypto @CredibleCrypto

@CryptoCapo_ That drop in 2018 occurred after nearly a year-long period of sideways action before the base broke. Much more similar to our drop from the year-long period that preceded our break of the 30k "floor". That capitulation drop has already happened imo. $BTC https://t.co/gO18pJDivy

Justin Bons @Justin_Bons

1/7) SOL has gone down again This is the 8th time SOL has gone down in the past year! Blockchains should never have down time, yet SOL goes down almost every month! This is another consequence of bad design As SOL prioritized attracting investors short-term over good design:

The Kobeissi Letter @KobeissiLetter

People are debating the definition of a recession while we have: 1. GDP down 2 straight quarters 2. Fastest falling housing market since 2008 3. Inflation at a 40 year high 4. Credit card debt up 20% YoY 5. Rising rates into slowing economy Reality is beginning to set in.

David Taylor @DaveTaylorNews

Credible source tells me a major international investment bank is on the brink

Ryan Detrick, CMT @RyanDetrick

S&P 500 down 24.8% YTD at the end of September. Since WWII, only 1974 and 2002 saw worse starts to a year. Both years saw the S&P 500 gain 7.9% in Q4.

Alf @MacroAlf

100 years of history show that recessions were ALWAYS able to bring inflation down to <2% If you hit demand bad enough, you'll get there How long does it take to slow CPI from 6-10% to 2%? Using 1948, 1969, 1990, 2008 as examples, anywhere between 5-30 months (16 on average)

Algod🫐 @AlgodTrading

If traditional markets open bearish monday i wouldn’t be surprised if we nuke to new lows in a big doom candle

Bitcoin Archive 🗄🚀🌔 @BTC_Archive

BREAKING! 🇷🇺 Russia to supply electricity to Bitcoin miners in Kazakhstan! 😳

unusual_whales @unusual_whales

Home prices are selling for 9.5 times the average income, the highest home price to income ratio ever, per Eric Basmajian.

Alf @MacroAlf

The percentage of 25-34y old living with parents or relatives in the US 1970: 11% 2020: 29% Why, in your opinion?

First Squawk @FirstSquawk

CREDIT SUISSE: CFO: BANK IS AT CRITICAL MOMENT

unusual_whales @unusual_whales

Stock market losses have wiped out $10 trillion from Americans' wealth.

unusual_whales @unusual_whales

Credit Suisse, $CS, executives spent the weekend reassuring large clients, counterparties and investors about its liquidity and capital position, the Financial Times reported.

John Wick @ZeroHedge_

This is what I hope. I hope I’m wrong and that #BTC decouples once stocks make their next leg lower. That it stops being a risk asset. I hope that sovereign bond issues get resolved. That we avoid a larger war, that we avoid a deep recession. That people don’t lose jobs. 1/2

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‘Better Tech’—A Legendary Google Billionaire Is Backing A Radical Bitcoin And Ethereum Rival Despite Huge $2 Trillion Crypto Price Crash

former Google chief executive and billionaire Eric Schmidt has said chainlink—previously a top ten cryptocurrency that soared through 2020—has "better technology" and "scales better" than other cryptocurrencies like bitcoin and ethereum.

Chainlink uses software called oracles to connect data to blockchains, designed to help clunky and cumbersome decentralized networks to scale. Chainlink's link cryptocurrency has though crashed by more than 80% since hitting an all-time high in May last year, outpacing price declines seen by bitcoin, ethereum and other major cryptocurrencies.

Web3—the idea a blockchain-based, decentralized internet will eventually replace the Silicon Valley-centric web 2.0 that's dominated by the likes of Google and Facebook's Meta—is "not normal," said Schmidt, warning ethereum and other similar smart contract blockchains are "poor in their capabilities," with sky-high expectations getting "a little ahead of reality" in recent years.

Chainlink is overall a great project, and with SWIFT recently testing out solutions using it, and now with Eric Schmidt publicly supporting it, we may see other companies move to use it.

Full Article

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Facebook, Instagram Users in US Can Now Share Ethereum, Flow and Polygon NFTs

Continuing its recent rollout, tech giant Meta announced today that its NFT collectables support is now available to all Facebook and Instagram users within the United States.

Meta first began enabling NFT support on its platforms in May with Instagram, and then added Facebook support in June. In both cases, the firm started with a limited number of users, but has gradually expanded the pool over time.

The feature currently supports collectibles from the Ethereum, Flow, and Polygon blockchains, with Solana support also on the horizon. Facebook and Instagram support wallet connections MetaMask, Dapper Wallet, Coinbase Wallet, Rainbow, and TrustWallet. The feature is available from the “digital collectibles” tab in settings in both mobile apps.

In August, the company announced a cross-posting feature that lets users show off NFT collectibles across their Facebook and Instagram accounts. According to Meta, the feature showcased the “interoperability” of NFT assets that can plug into various platforms.

Meta integrating NFTs will expose new demographics to crypto that previously didn’t have access. It will also help to normalize the idea of NFTs and using them as a form of expression.

Full Article

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Maple Finance Aims to Be the Shopify of Crypto Lending