Long Forgotten Lessons. Long Live The Savior...

"There are now reports that tens of billions in American "military aid" to Ukraine has not been used to fight Russia but instead was invested into FTX—sending it to Ukraine, transferring it to FTX, and then laundering it back to US Democrats who originally voted to send the money".

What do you think of that? Quite clever, right... What have I said since the start of the war in Ukraine? It's all bullshit, it has no basis, it will have no winners and the only ones suffering are the ones seeing their country torn apart, the fugitives and as "collateral victims" we have the American people who are buying tax dollars for supporting this war.

Well, actually, as you can see from the quoted intro paragraph, most of the funds are actually turning back home, but not in the pockets of the Americans who are now paying way lot more for everything, not necessarily because of the war, and rather in the pockets of the democrats. Nice doing, Shaggy...

OK, now this whole FTX episode will end pretty soon, and probably SBF will be held accountable, if found, or he might end up like McAfee did if he's not playing by the rules of the ones who made him rich. The guy is clearly a jerking fluffy vegan buffon, no doubt about that.

However...

We are tempted to say that FTX nuked the market, but instead, it was CZ who did it when he announced the dump of his FTT tokens, which didn't go thru entirely, but when you think of it, the situation is more complex. On one hand, we have CZ exposing the house of cards FTX was and on the other, we have a bunch of crypto exchanges, crypto.com and Binance included, that are rushing to show proof of reserves to their customers so they don't have their poor credibility shaken.

Some are sending funds back and forth between each other prior to and after "the snapshot", but at least they try to stay credible. Now, any adult who's been in crypto for a few years knows by now that you shouldn't store crypto on exchanges, no matter how much Binance CEO insists that Binance is safe. Well, it got over a pretty nasty hack a few years ago and nobody complained about anything like what happened with FTX but that doesn't mean you shouldn't self-custody of your cryptos.

To reduce further cascading negative effects of FTX, Binance is forming an industry recovery fund, to help projects who are otherwise strong, but in a liquidity crisis. More details to come soon. In the meantime, please contact Binance Labs if you think you qualify. 1/2

Also welcome other industry players with cash who wants to co-invest.
Crypto is not going away. We are still here. Let's rebuild.
2/2
source

That tweet came like a deep breath of fresh air for Bitcoin, which was already nose-diving well under $16,000. Now it is struggling to pierce through $17,000 while Bitcoin investors have been withdrawing coins to self-custody at a historic rate of 106k $BTC/month. Hard times make for string men, right? Right!?

Well, this is my second bear market and if you would have asked me a week ago I would have not even called it a bear market anymore. I was so damn wrong... Twitter knows nothing. Less than a month ago when BTC was starting to move to the upside, above $20k, my feed was flooded by bullish charts coming from individuals who I have now unfollowed, and now, the same guys "are praying for BTC". Man, you either know your game, or you are a beggar...

In the past bear market, I had to sell "cheap ETH" to pay for my bills, cuz of the circumstances, now I have to sell cheap HIVE and try to time the upward moves to max that out for the same exact reason: dumb playing of the previous bull market. I thought I knew what I was doing back then, and I sure feel the same right now...

Will I repeat the same mistakes in the next bull market? I bet I won't, but don't underestimate my stupidity... It is always the darkest before the dawn, and man how dark does life look right now. But WAGMI, right? Right!?...

Thanks for your attention,
Adrian

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