In This Issue
- I share my thoughts on the state of the market, Genesis saga, Bitcoin core dev loses 200 BTC, Wilder World looks SICK, Solana not dead & BONK airdrop.
- Rekt Capital has the latest technical analysis for you on the market.
- Erik has a report for you on 3 ways to invest in Web3.
- Defi Dad has a tutorial for you on how to earn 8.16% APR with sfrxETH by Frax Finance.
- Jesse has a ton of hot new airdrops for you.
- Hot new token sales.
- Rebecca has all of the latest news for you.
For any crypto related questions please comment on the website.
For any support related issues please visit wealthmastery.io and click the bouncing blue circle in the bottom right corner.
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What’s On My Mind by Lark
The State of the Market
While the prices are basically totally stagnant and moving sideways there have been some big stories in the last week.
Fiji’s new Prime Minister is considering making Bitcoin into legal tender. Their neighbor Tonga is still reportedly moving ahead with plans to adopt Bitcoin as legal tender too. Both of these countries have lots of their citizens living abroad and getting screwed by remittance companies when they send money home so Bitcoin could really help people out.
That being said, 2022 was rough, like really rough. 2022 was the only year in which Bitcoin put in 4 consecutive red quarters.
The question now is are we heading for a fifth or can we finally get a bit of green this quarter? Well, basically everyone and their mom is calling for lower lows in Q1, followed by relief in Q2.
Will the crowd be right? Or will the contrarians be right?
In rates news, the FED meeting minutes were released today. The big takeaway is that the FED doesn’t believe any rate cuts should happen in 2023. Basically rates will continue to rise until they hit over 5%, and then they will stay high.
Genesis Saga
Gemini founders Tyler and Cameron Winklevoss have traded very public punches with Digital Currency Group’s Barry Silbert on Twitter. The twins have accused DCG of bad faith stall tactics over the 900 million in Gemini customer funds caught in limbo. Dutch crypto exchange Bitvavo is also facing similar issues.
Genesis was one of the biggest lenders in the crypto space before the FTX collapse. Fears of contagion are still very prevalent because Genesis is owned by DCG which owns Grayscale. It remains to be seen how everything could be affected if a chapter 11 bankruptcy is forced or if enough lawsuits pile in. Billions in Bitcoin and ETH at Grayscale are in the spotlight.
It has now also been reported that DCG and Genesis are under investigation by the SEC. Things could get spicy!
Although, in a curious twist Valkyrie has stepped forward to say they would like to take over management of the Grayscale Bitcoin Trust.
Bitcoin Core Dev Loses 200 Bitcoin
This week a long-standing Bitcoin core dev lost 200 Bitcoin in a hack. While some claim the veracity of his claims saying that it was convenient for this “accident” to happen just before tax season. Anyway, it appears that his PGP key was compromised. And that this Bitcoin in question was kept on a hot wallet. WTF? I can’t imagine having that much Bitcoin sitting…
