Reading time 2m35s
GM degenz ☀️
New Hollywood blockbuster heading into production for 2023 according to rumors.
Jonah Hill as SBF is priceless 🤣
The Onion thinks this whole debacle should only instill greater trust in crypto for the average citizen.
Today's Agenda:
- Binance Flashing 💵
- The Cold Rush Begins 🧈
- Nike’s Web3 Platform 🔜
- Care Bear NFT Avatars ⏳
- Magic: The Gathering 🕹️
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Binance Shows Strength
CZ says Binance is ready to help.
There are two ways to read this:
1/ Binance has liquidity to spread around
2/ Binance is pretending to have liquidity to spread around 👀
I mean, this is the guy who essentially just collapsed one of his top competitors with a tweet like less than a week ago.
Then said he’d save ‘em but didn’t 😂
Can’t put anything past him.
Now he’s throwing more lifelines around and offering to help with liquidity crises for projects that presumably have failed to manage their own risk..
On the other hand, if they do have excess liquidity then now’s the time to snatch up stakes in struggling web3 companies who are “otherwise strong.”
In either case, while it seems good for crypto on the surface (some good projects might get ‘saved’), Binance’s hold on crypto is setting off alarm bells.
They have their hands in everything 😅
Let’s hope Vitalik gets to the bottom of whether or not they’re really hodling.
So far, according to blockchaincenter.net, only 3 major crypto exchanges have fully audited proof of reserves, and Binance ain’t one of ‘em.
Kraken, Coinbase, and GateIO recently published their proof-of-reserves along with their liabilities - it’s not much use to know how much an exchange hodls without knowing how much they owe.
“FTX Collapse is an Expensive Ad for Bitcoin”
The Gigachad still spitting absolute facts about the distinction between the Bitcoin network and centralized exchanges.
Mark Cuban also shared a similar sentiment on Twitter, adding “These blowups have not been crypto blowups, they have been banking blowups.”
The “Cold Rush” Begins
There are now only 2.25M Bitcoin left on all exchanges - it’s being taken off to private wallets at historic rates, presumably for cold storage.
I know you're probably getting annoyed with me telling you every single day, so how about if we let this lovely young lady pass along the message?
Web3 Pipeline 📢
Nike Announces Its Biggest Web3 Project Yet - their new ‘community experience’ platform, .SWOOSH, will offer Polygon-based NFT Nike products and provide a home for the sportswear brand’s virtual items.
Sandbox Becomes New Home for Care Bears NFTs - whoever remembers the Care Bears had a wholesome childhood; the mint for their Sandbox avatar NFTs opens today at 100 SAND (around $60).
Magic: The Gathering Creator’s Web3 PvP Card Game - it’s a combat game called Blockchain Brawlers and after a successful initial launch, they’re now moving into the player-vs-player realm.
NFT drops of the day 👀
Gakkoverse | TBD (SOL)
Nov 17 - an immersive storytelling platform with on-chain verification, NFT collaborative drops and metaverse escape room games.
🛑 NOTE: drops not promoted/endorsed
✅ DYOR and practice safe minting!
Barely a year ago today 👀
That’s all for today frens!
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DISCLAIMER: This is not financial advice. This newsletter is strictly educational and is not investment advice to buy or sell any assets or to make any financial decisions. Do your own research.