This is an incorrect interpretation - just b/c BLS discontinued this specific average price series does NOT mean "that coffee prices will no longer be factored into CPI inflation data" as alleged below; rather, the source data will now use a wider variety of container sizes (1/2)
Everyone is talking about how Paypal's new stablecoin $PYUSD is centralised as it allows accounts to be frozen.
Have people forgotten that this is also the case with both $USDT and $USDC?
Let's dive in for a short thread🧵
1. On May 21, 2023, Multichain CEO Zhaojun was taken away by the Chinese police from his home and has been out of contact with the global Multichain team ever since. The team contacted the MPC node operators and learned that their operational access keys to MPC node servers had been revoked. Furthermore, these MPC node servers, like all other ordinary servers, were actually running under Zhaojun's personal cloud server account. No member of the team has access to Zhaojun's personal cloud server account, so nobody can log on to these MPC servers.
2. Later, the team established contact with Zhaojun's family and learned that all of Zhaojun's computers, phones, hardware wallets, and mnemonic phrases were confiscated by the authorities. Since the inception of the project, all operational funds and investments from investors have been under Zhaojun's control. This also means that all the team's funds and access to the servers are with Zhaojun and the police.
3. Due to the lack of information about the case, the team could only maintain project operations to the best of their abilities through the remaining access on some non-MPC servers that hadn't been revoked yet. Per the lawyer's suggestions, the team has chosen to cooperate as much as possible with the demands of Zhaojun's family and adhere to the requirements of local laws and regulations, refraining from disclosing unauthorized information about the case to the public.
4. On May 30, in a responsible approach toward the community, the team released the news about Zhaojun's disappearance and informed the community about the technical issues currently faced.
5. On June 4, Zhaojun's family successfully logged into the cloud server platform using the historical information on his home computer. However, Zhaojun's family only allowed Multichain team engineers physical access to the home computer to fix technical issues with Router2 and Router5.
6. During this period, Zhaojun's family and the lawyer were in communication with the police. The team was not informed about the details of the case but was notified that Zhaojun would be released soon and was asked to continue maintaining the system and await further updates.
7. The Multichain protocol continued to operate as designed. The team made every effort with limited resources to sustain the operation of the Multichain protocol and resolve user issues as much as possible.
8. On July 7, user assets locked on the MPC addresses were transferred to unknown addresses abnormally. According to Zhaojun's sister, login information from an IP address in Kunming was found on the cloud server platform, along with a series of operations transferring funds from the MPC addresses.
9. On July 9, Zhaojun's sister transferred the remaining user assets in the router pool and subsequently notified the team and several project parties of this asset preservation action. The funds were transferred to EOA addresses controlled by Zhaojun's sister.
0x1eed63efba5f81d95bfe37d82c8e736b974f477b
0x6b6314f4f07c974600d872182dcde092c480e57b
10. On July 13, according to information provided by Zhaojun's family, the police took Zhaojun's sister into custody. Now, Zhaojun's sister is also out of contact. The status of the assets she has preserved is uncertain, so the team believes it is necessary to inform the community about all the known circumstances.
11. Due to the lack of alternative sources of information and corresponding operational funds, the team is forced to cease operations. If there are any further notifications and developments, the team will update the community accordingly.
12. The Multichain team does not have the access to Domain Account to redirect or bring down the frontend https://t.co/v2pWSycJ0k. Please help amplify and ask users not to use the Multichain service anymore.
Can @GoDaddy help to bring down https://t.co/v2pWSycJ0k? Thanks.
🚨Breaking News: 🇪🇺#ECB raises the three key interest rates by 25 basis points in today's meeting. This marks a cumulative increase of 400 basis points since last year.
📍More Info: https://t.co/6F1ka1usk4
This is seriously scary. This wallet has been around for years and no doubt had large amounts of users.
Are fully open-sourced wallets the only way forward?
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I was asked what I think of the debt deal, so here it is in a nutshell. It was as I expected, which is the best the one could expect, though not good enough for the following reasons:
1. Bipartisanship: Grade A.
The middle held together against the extremists in their parties. That's a big thing. Is this the beginning of the emergence of a strong bipartisan middle bound together against the extremists? Let's see how it goes.
2. Dealing with the debt problem of adding too much to a pile of debt that is already too large: Grade D.
It won't make much of a difference.
3. Planning a smart bipartisan commission to make debt and economic reforms: Grade B.
There was recognition that it is desirable for this to happen after the 2024 elections to avoid the conflict in the middle of the election campaign. That is why the two-year extension was sensible.
ถ้ารัฐบาลสหรัฐฯ ล้มละลาย (ผิดนัดชำระหนี้ default) นักลงทุนจะเข้าซื้อสินทรัพย์ใด???
Bloomberg "บลูมเบิร์ก" จัดทำแบบสำรวจ Markets Live Pulse ให้นักลงทุนอาชีพและนักลงทุนรายย่อย (ช่วงวันที่ 8-12 พ.ค. นี้)
ผลก็ตามภาพข้างล่างนี้เลยครับ
ว่าหากรัฐบาลสหรัฐฯ ล้มจริง (ซึ่งแน่นอนว่าไม่ได้หมายถึงแค่อเมริกาที่จะเละ เพราะทั่วโลกย่อมระเนนระนาดไปด้วย ได้รับผลมากน้อยต่างกันไป แต่มีแน่) แล้วนักลงทุนมองอะไรเป็น "ที่พึ่ง/เครื่องยึดเหนี่ยวทางการลงทุน" safe haven
1. ทอง ทิ้งขาดแบบไม่เห็นฝุ่น
2. ไม่ต้องแปลกใจ หลายคนอาจจะงงว่าถ้าสหรัฐฯ ผิดนัดชำระหนี้ แล้วยังกระโจนแส่เข้าหาพันธบัตรรัฐบาลสหรัฐฯ อีกทำไม แต่นั่นแหละ ระยะยาวเป็นสิบปี ไม่มีใครคิดว่าสหรัฐฯ จะไม่มีปัญญาใช้หนี้ ยังคงมั่นคงอยู่ดี
(ผลจาก default จะทำให้ asset ต่างๆ วอดวายหมด ดังนั้น ลง asset ที่มั่นคงอย่างพันธบัตรรัฐบาลสหรัฐฯ ไว้ก่อน ได้น้อยแต่ได้แน่ --- แม้จะฟังดูตรรกะเหมือนขัดแย้งตรงคำว่า "ได้แน่" เพราะตอนนี้กำลังไม่ได้)
3. บิตคอยน์
4. ดอลลาร์
5. เยน
6. ฟรังก์สวิส
(Bloomberg) The risk of a US debt default is greater than it’s ever been, threatening to tip global markets into a brand-new world of pain. For investors, there are few places to hide other than the oldest hedge in the book: gold.
The precious metal is by far the top pick for those seeking protection in case Washington’s game of chicken over the debt ceiling ends in a crash, according to Bloomberg’s latest Markets Live Pulse survey. More than half of finance professionals said gold is what they would buy if the US government fails to honor its obligations.
Even more striking is the shortage of alternative hedges. The second most popular asset to buy in event of a default, according to the global survey of 637 respondents, was US Treasuries. There’s something of an irony to that given that’s the very thing America would probably be defaulting on.