RedHerringBTC

∞/21M #bitcoin

[The Kobeissi Letter @KobeissiLetter]

What just happened?

The S&P 500 just erased nearly -$2 TRILLION of market cap just hours after 3rd strongest US jobs report in 18 months.

Meanwhile, Bitcoin is officially down over -50% from its record high in October 2025.

What's happening? Let us explain.

(a thread)

[RedHerringBTC @redherringbtc]

@grok @KyleForgeard @grok what about the meta card? What’s that about?

[Kraken @krakenfx]

A historic moment for crypto.

Kraken Financial has been granted a Federal Reserve master account, making us the first digital asset bank with direct access to the U.S. payments system.

A major step toward connecting crypto infrastructure with the core rails of global finance.

https://t.co/yVgwuJDZge

[RedHerringBTC @redherringbtc]

@ODELLXYZ

[Will @WClemente]

Everyone is leaving crypto to go trade stocks and rocks

[The Kobeissi Letter @KobeissiLetter]

To all the crypto investors anxiously watching right now:

Since 2017, Bitcoin has seen:

1. 10+ declines of -25% or more
2. 6 declines of -50% or more
3. 3 declines of -75% or more

Every single decline of the current magnitude or more since Bitcoin's inception has been followed by new record highs.

Disruption is not easy, but it pays when you can sound out the noise.

This is a "routine" crypto bear market which we believe is already closer to its end than its beginning.

Volatility brings opportunity.

[Kraken @krakenfx]

What's Kraken @DiemArchive?

[RedHerringBTC @redherringbtc]

@cobie Return of the king

[RedHerringBTC @redherringbtc]

@_Checkmatey_ Congrats Check!

[Cred @CryptoCred]

Started building @breakoutprop in a Telegram chat 2 years ago.

Today, we have been acquired by Kraken.

You can just do things.

GM.

[Arjun Sethi @arjunsethi]

The United States Department of Commerce @CommerceGov will record official GDP data directly onto nine public blockchains with support from Kraken. This is the first time U.S. economic data has been placed onchain in a way that is permanent, transparent, and verifiable by anyone in the world. It matters because GDP is one of the most important signals used to allocate capital and set policy, yet until now distribution relied on formats like PDFs or centralized APIs that are vulnerable to delay, censorship, or manipulation. A blockchain record makes alteration effectively impossible without immediate detection.

The process is technical but clear. At the instant of release, the Department generates a digital fingerprint of the GDP dataset using a cryptographic function. That fingerprint is then written to multiple blockchains including Bitcoin, Ethereum, Solana, Avalanche, Stellar, Polygon, and Tron. Kraken and others provided the cryptocurrency required to pay transaction costs to ensure the data was published in parallel across different chains. Once written, the fingerprint becomes immutable. If any part of the GDP data were later revised or corrupted, the fingerprint would not match, making tampering provably visible to the entire world.

The significance is not just in the protection of one dataset. It establishes a new standard for how critical information can be distributed. Imagine every major data series such as inflation, unemployment, trade balances, and fiscal spending recorded this way. Instead of trusting an institution to distribute numbers accurately, anyone could verify integrity at the protocol level. Developers could build systems that monitor these fingerprints in real time and immediately confirm that what is released publicly aligns with the original record. Markets, researchers, auditors, and citizens would all be operating from the same incorruptible source of truth.

Moving forward this opens the door to integration with oracle networks and smart contracts. Once economic data is verifiable onchain it can be consumed automatically by decentralized applications, AI models, and even policy tools. For example, an inflation print could trigger a real time adjustment in a decentralized bond instrument. Employment data could feed directly into algorithmic research models without concern of manipulation. Governments could extend this model to election results, corporate disclosures, climate data, and public health reporting.

This is not symbolic. It is a first step toward a future where the baseline layer of public information is secured by cryptography and distributed across decentralized infrastructure. It reduces the surface area for fraud or censorship, raises the cost of tampering to near infinity, and builds trust without depending on a single institution. For blockchains, it demonstrates utility that goes beyond financial transactions into the core fabric of societal transparency.

h/t to @POTUS and @howardlutnick

[Steve Will Do It @stevewilldoit]

I turn 27 today. Sending someone 2.7k BTC cuz I love u. U changed my life. You aren’t fake demonic motherfuckers like everyone else in my life . I love u .

Comment btc and like

[RedHerringBTC @redherringbtc]

@stevewilldoit STEVE STEVE STEVE STEVE

[RedHerringBTC @redherringbtc]

@stevewilldoit btc

[Kraken @krakenfx]

@Gemini Turn a profit or you won't be able to keep sending these funny tweets for much longer

[Jesse Powell @jespow]

Can I get a $30m refund?

[Bram Kanstein @bramk]

Yo @grok please compare the (global) debt based fiat monetary system and BITCOIN, and analyze which of the two is more likely to be a ponzi scheme, based on its characteristics. Include reasoning as to why or why not, and a probability percentage.

[RedHerringBTC @redherringbtc]

@frankiemacd @grok was frankie involved somehow?

[RedHerringBTC @redherringbtc]

@jespow @rstormsf @krakenfx Congrats king 🫡