Crypto Paus

Crypto Trading & Investing 🪙 | Blockchain yield farming, one LP at a time 👨‍🌾 | My advice is #NFA, always #DYOR 📖

[Crypto Paus @CryptoPaus]

@3Commas @HyperliquidX 3commas v1 or v2?

[Charles Hoskinson @IOHK_Charles]

With respect to Binance, I'm reading through the SEC complaint. It's over 130 pages, but seems like the next in a series of steps to implement chokepoint 2.0 in the United States. The end goal is a agenda based CBDC partnered with a handful of massive banks and end-to-end control over every aspect of your financial life.

A regulatory event is where you have a debate about compliance with a law or guidance. This event seems to be a polticial philosophical disagreement with the very existence of cryptocurrencies and what they represent. An unelected group of people have decided that concepts like self-sovereign identity, owning your wallet, and the freedom to control your economic agency should be removed from the masses and given to the "enlightened" few.

Honestly, what is happening isn't anything new. It's always the same fight between freedom and authoritarianism just with different players, technology, and words. It does seem like this event is a perfect opportunity for the entire industry to set aside it's fragmented nature and unite for a common sense set of rules and guidelines that can prevent the United States from slipping into a distopia that would make 1984 look like a vacation.

I'll have more to say later, but will close with we are going to be fine. Everything's alright and the future is bright for the industry.

[Binance.US 🇺🇸 @BinanceUS]

https://t.co/HrbX93eYuS has made the difficult decision to exercise its right to terminate the asset purchase agreement with Voyager.

While our hope throughout this process was to help Voyager's customers access their crypto in kind, the hostile and uncertain regulatory climate in the United States has introduced an unpredictable operating environment impacting the entire American business community.

We are focused on creating a safe platform where our customers can participate in the digital asset economy.

[zerohedge @zerohedge]

When does Facebook re-change its name to MetAI

[Emperor👑 @EmperorBTC]

People are cheering for a Banking Collapse.

1. People will line up, get violent to withdraw their cash.
2. Employees won't be paid, middle class will collapse. Babies will starve.
3. All mom and pop shops will be mobbed.

This is the last thing you want for Bitcoin to succeed.

[Posty @PostyXBT]

Feels like we're finally seeing the reason #bitcoin was made in the first place, come to life...

It only took 14 years but people can now see the real use case.

It was all just a matter of time 🤝

[Sonali Basak @sonalibasak]

This is a big take

Apollo’s Torsten Slok

[EliZ @eliz883]

lunch break... you just need a brain 🫶🧠 $TOTAL 2

[villi @villi]

Just got off the phone with a founder who moved his cash from SVB to Big Bank yesterday. His thoughts:
- Going back to SVB. I think it is now the safest bank in the U.S.
- Experience with Big Bank was awful. They are terrible.
- Want to support SVB. Will move back half of $.

[Watcher.Guru @WatcherGuru]

#Bitcoin ad on display in front of Silicon Valley Bank HQ.

[Matt Hougan @Matt_Hougan]

Bankless.

[Gabor Gurbacs @gaborgurbacs]

IMF warns G-20 that widespread #Bitcoin and #crypto use could cause banks to lose deposits.

On the same day, banks are down high single and many double-digits, Bitcoin and major crypto markets up double-digits.

The market is the ultimate arbiter of truth. Don't forget that.

[Perry E. Metzger @perrymetzger]

For those who are unaware: the FDIC is brutally efficient, vastly more than almost any other government agency I can name. On Monday morning, the former Silicon Valley Bank branches will re-open under the name of another bank.

[Nuseir Yassin @nasdaily]

Today, I finally understand the anger that led to the creation of Bitcoin.

Who do you trust with ur livelihood?

A “gov insured” bank that’s not actually insured?

An exchange that goes bust?

A stablecoin that depegs?

Or a currency that makes you 8% poorer every year?

[Peter Schiff @PeterSchiff]

The U.S. banking system is on the verge of a much bigger collapse than 2008. Banks own long-term paper at extremely low interest rates. They can't compete with short-term Treasuries. Mass withdrawals from depositors seeking higher yields will result in a wave of bank failures.

[Cointelegraph @Cointelegraph]

Are you planning to sell your #USDC amid market uncertainty? Don't make this mistake. https://t.co/MZcfREN7hE

[Miles Deutscher @milesdeutscher]

So many DeFi protocols with $USDC exposure are being affected by the de-peg.

$FRAX, $GMX, $GNS, $MKR just to make a few.

Not to mention the hundreds of protocols with USDC in their treasury.

DeFi flow-on effects could get nasty.

[Ignas @DefiIgnas]

1/ Are you holding USDC in panic mode right now?

Yes, USDC is in trouble, but it's not going to zero like UST.

Circle has already clarified how much cash they have stuck, and the situation might be better than what the market is pricing right now.

[Gabor Gurbacs @gaborgurbacs]

Of course, the FDIC doesn’t cover anything above $250k… so basically no businesses. It’s practically worthless. People trust banks more than what they should. Tier 1 leverage ratios (tier 1 capital/consolidated assets) show just how much more leveraged banks are vs stablecoins.

[Skew Δ @52kskew]

$BTC well no sharp squeeze up but sharp margin cascade here.

What led this move is a large binance spot sale directly into an area of stacked up longs.

Margin call