Waiting for Godot, and a Bitcoin Spot ETF…
Why hasn’t the SEC approved a Bitcoin Spot ETF yet? The latest on the SEC’s reasoning on my blog at Veritas Analytics here.
You Only Get What You Pay For
DeFi protocols are generous to the white hat hackers who bring bugs to their attention, while centralized crypto exchanges not so much…
Looks like Binance is in the hot seat this time
The SEC is reportedly investigating Binance over its relationship with related entities.
Who else I recommend reading:
People always ask, what should I be reading? First, you should subscribe to Cobie’s newsletter. One of my favs, it’s 1/2 Warren Buffett, 1/2 Hunter S. Thompson. It’s a look in the mind of an irreverant, but thoughtful and successful, crypto investor. If you like my newsletter you’d really like his.
I’d also follow Jack Niewold
Can You Post Bond in Bitcoin?
And just like that, one of the individuals (Heather Morgan, alias rapper Razzlekahn) implicated in the hack of what is now $4.5 billion worth of bitcoin was granted bail. 4.5 billion is a lot of money, and a few hundred million of which is still unaccounted for. So you can understand why the judge in the bail hearing was worried about flight risk. In her words “I want an ankle bracelet, counselor.” I won’t judge you if you make one of her rap songs into your new ring tone. And remember, always be a goat!
Oh Canada, My Home and Native Land!
What can I say about recent happenings in Canada without offending my audience (or at least offending them more than hacker Razzlekahn’s rap videos!) Set aside the politics. Crypto community members who don’t agree with the truckers are still very concerned about the threat to personal liberty when government use of emergency power leads to bank accounts being frozen of family members of protesters who weren’t associated with the protest. At lot of people withdrew their money from Canada banks.
Bitcoin wallet services received orders from Canadian judges and had to explain that, no, we can’t freeze bitcoin in private wallets, that’s not how private wallets work.
Nunchuk, a privacy focused wallet, responded to the court over twitter.
Speaking of privacy focused crypto wallets, Samourai Wallet is also very cool
Cold, Hard Cash
I like my hard wallet. Private custody means you never have to worry about accounts getting frozen by anyone. You get anonymity (and there’s nothing inherently wrong with financial anonymity). But it’s a big responsibility. You lose your seed phrase, or share it, or make any of a dozen other mistakes, and it’s all gone. So do you homework first. Check out Ledger Nano’s safety advice in their academy. Also a great podcast on wallet security and anonymity here.
Stay safe out there kids!
Crypto is Fun, but how do you value your crypto?
The Great Wulf Kaal is starting to think about that, great new paper on crypto valuation here.