The Binance hacker might have just pulled off one of the smartest moves I’ve seen in crypto.
First, Tether froze $1.5 billion in USDT.
Then Circle froze another $800 million in USDC.
At that point, it looked like the hacker’s money was trapped.
But apparently, he had already planned for that.
Instead of holding the stolen USDT in a wallet, he allegedly deposited it into Aave and used it as collateral to borrow ETH.
Then he walked away.
That’s where the story gets crazy.
Tether can freeze the USDT sitting in the wallet.
But it can’t freeze the ETH he already borrowed.
So now Aave is left holding frozen collateral, while the hacker is sitting on liquid ETH.
And unless the protocol can recover it somehow, he may not even need to pay the loan back.
Two companies froze billions of dollars in seconds.
But someone who understood how to use DeFi may have found a way around both of them.
Pretty insane when you think about it.
Lets go Twitter Family. Lets run this video up. This video is likely the only video you need to watch to understand where the crypto market is going to go!!
Wow major sauce being released in my new YouTube video. Uploading now. You’re gonna watch it all - especially when I break down the daily time frame.
I break down where I think the market is heading and also where I’m taking my positions (swing trade).
#crypto#bitcoin
My hot take in the crypto market at the moment.
I think we may get a deeper pullback on BTC therefore further dips on ALTs.
I suspect this could come in the form of a black swan or we could just see the market grinding lower.
#bitcoin#crypto
I’m not gnna lie it’s so hard to keep consistent with my page right now and I keep falling off. YouTube, live trading, coaching calls and then Twitter as well.
Damn it is difficult you know.
I’m going to try posting more for you guys.
But the engagement is so shit 😂 ffs
@Rahul113017 Weekly closed as a break of structure. So weekly is showing bullish. We have the monthly and quarterly close coming soon let’s pay attention to that.