“the FTX fallout shows crypto needs regulation”
ummm this offshore group was talking to every regulator while running what appears to be a ponzi scheme and no one asked any questions maybe we need better regulators who actually do, like, basic due diligence?
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Read: "FTX couldn't legitimately obtain a bank account so we had Alameda launder money to circumvent the normal controls. 3 years after failing to do basic accounting and reconciliation, we found out we dun goofed to the tune of $8b of client funds. Oops! Common mistake."
Not what the narrative would tell you:
Gold and Silver mining stocks as a whole have created zero value in 40 years....and in real terms is much, much lower so it hasn't offset inflation either.
This chart quite shocked me.
Do Kwon: Free
Sifu: Free
Alex Mashinsky: Free
Su Zhu: Free
Tornado Cash developer: Arrested
Crypto: The land where it’s okay to rug/swindle billions of $ from retail investors, but writing code to provide basic privacy is a jailable offence.
3 common misconceptions about Tornado Cash:
1) Tornado is a money laundering tool.
Akshually, Tornado Cash is a piece of neutral infrastructure that is used to shield transactions from prying eyes. Like all tools, it can be used for a variety of purposes depending on the user.
137k (~$3b) worth of #Bitcoin could be dumped onto the market, 8 years after the Mt. Gox hack.
Some are labelling this as the biggest "black swan" in $BTC history.
🧵: What you need to know about Mt. Gox: A fascinating story of hacks, lies and deceit. 👇