Isn't it illegal?
1/ FTX allows withdrawals only for TRX & TRC20.
2/ Users exchange assets to TRX to request withdrawals.
3/ TRX price goes up like 50x in FTX.
4/ Justin deposits TRX into FTX and sells them.
5/ FTX users sell TRX in other exchanges with a significant loss.
All crypto exchanges should do merkle-tree proof-of-reserves.
Banks run on fractional reserves.
Crypto exchanges should not.
@Binance will start to do proof-of-reserves soon. Full transparency.
This is either a great endorsement of their belief in their own value add as a business, or a great condemnation of their judgement:
investment bank who gets paid to help restructurings hires 20 other investment banks to help with its own restructure
https://t.co/39wTWBMDf7
There is no path to wealth without asset ownership:
You need to:
- Own lands
- Own equities
- Own real estate
- Own businesses
- Or a mix of all of them
This is the way successful people reach financial freedom.
The last #Bitcoin accumulation phase was in mid-2020, lasting for 6 months.
As of May 2022, for me, it's pretty obvious that $BTC is in an accumulation phase. Institutions that drove the 2021 bull-run bought in this $25-30k range too.
Why not buy? Serious question.
Just as the outside view skeptics predicted, during a large market move a stablecoin blew out. Just not the stablecoin they predicted.
Which was predictable, if you knew the details.
This isn't a comment about good vs bad--it's about how important it is to know the details!
$BTC seems likely to consolidate in a wide range or be bearish in a few days.
The average amount of $BTC deposits is significantly increasing again.
This is a pretty unusual situation. Don't take too much leverage on your longs. Be careful.
Chart👉https://t.co/N4snAUDSgf
To see on-chain whale accumulation, search "All Exchanges Outflow Mean (MA7)" at @cryptoquant_com.
It's an average amount of withdrawals with a 7-day moving average. Most of the coins had been accumulated from whales during Oct 2020 - Jan 2021.
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