In This Issue
- David & Sam share their thoughts on Tether HODLling BTC, BTC and ETH retail trading in Hong Kong, SEC vs Coinbase, G7 Finance Minister’s meeting, Chamber of Commerce firing shots at the SEC, Vetoes and VCs in the EU, LTC-20 tokens & Worldcoin switching to Optimism.
- This Week On Chain.
- Rekt Capital has the latest technical analysis for you on the market.
- This week’s trending coins by Rebecca
- Erik has a report for you on whether or not nation-states will engage in hash wars.
- Defi Dad has a tutorial for you on how to earn as an LP on SyncSwap with a zkSync Airdrop Strategy.
- Jesse has a ton of hot new airdrops for you.
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The Ultimate Profit Taking Guide
I like crypto for many reasons. One is because of the money that can be made. But when it comes to taking profits, I see many of my peers making two big mistakes.
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- Some overly focus on locking a few monster trades, rather than booking and celebrating the many smaller gains available to them. Rome wasn’t built overnight, and neither is your wealth.
So, with the aim of achieving greater personal and financial freedom, I present to you the Ultimate Profit-Taking Guide. May it help you one day drop a fat down-payment on a new property.
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The News Now
Tether HODLS BTC as Company Grows Stronger
A new Tether reserves report shows for the first time ever that the company, as of March 31st, holds approximately 52,000 BTC, worth a cool $1.5 billion.
For context, Tether’s BTC holdings account for 1.8% of the company’s total assets. For more context, when comparing the BTC holdings of all public and private companies (the latter that have disclosed this info), Tether ranks 4th behind Block.one, MTGOX, and Microstrategy.
Currently, Crypto Twitter is speculating about when Tether might have started making these purchases. But given it’s Tether, no one really knows. The only available data comes from comparing Tether’s Q4 2022 and Q1 2023 numbers. In the Q1 report, Tether intentionally separated its bitcoin allocation from where it – presumably – was previously lumped in under the “Other Investments” category.
So why is Tether now disclosing its bitcoin allocation? And did they buy in Q1 or have they been holding for longer? It’s a mystery. But what’s important is that they are holding! And guaranteed all eyes will be on their quarterly reports moving forward, now that we have a baseline.
The other interesting Tether news is how the company is growing stronger while its competitors wither. Tether set record net profits in Q1 at $1.48B, bringing their total excess reserves to $2.44B. Another ATH. What are they doing right?
Well, they’re flipping more and more depositors’ funds into U.S. treasury bills (currently 64% of their total assets). So as the Fed’s been raising interest rates,…
Hi! My name is Lark Davis!
I’m a cryptocurrency investor with years of experience and I’ve been making consistent profits in the crypto space.
I’m passionate about helping others do the same, so I run multiple educational channels on crypto investing.
