🚕 How an Uber journey value somebody $300K
Plus: Justin Solar calls out Coinbase on delistings
GM. Right this moment’s Day by day Squeeze delivers a basket of blockchain fruits – some ripe, some a bit bruised, however all the time recent.
⚖️ Coinbase acquired sued for delisting WBTC.
🚕 How a faux Uber driver stole $300K in crypto.
🍋 Information drops: the NFT group expects an OpenSea token, Ripple CTO’s message in regards to the launch of RLUSD + extra
🍍 Market taste at this time
You recognize it is a large day when even your uncle, who thinks blockchain is one thing you’ll find in a shed, begins asking questions 🤔 The Concern and Greed Index is again to “Excessive Greed” at 83, and Bitcoin set a brand new all-time excessive at $106,488.
One other milestone: the Bitcoin/Gold ratio ringing in a brand new all-time excessive at 40 ounces of gold per Bitcoin. There’s chatter in regards to the subsequent cease being an 89:1 ratio.
Now, how did we get right here?
Donald Trump mentioned that he desires to “do one thing nice” with crypto;
Microstrategy is ready to hitch the Nasdaq-100 Index this month = extra eyes on its shares = extra Bitcoin buys;
Persons are anticipating an rate of interest reduce this week, translating to extra liquidity that tends to make danger property look enticing.
Bitcoindata21’s calling it: a short-term prime of round $140K may very well be on the desk by early January. The MVRV ratio – a measure of how a lot revenue long-term holders are sitting on – nonetheless has room to stretch. In plain phrases? Most long-term holders aren’t cashing out simply but, which suggests there’s most likely nonetheless some fuel within the tank for extra upward motion earlier than we hit any critical resistance 🚀
Who is aware of, perhaps by the point your uncle figures it out, Bitcoin can have doubled. Or tripled. Both means, he’ll positively be texting you for pockets setup ideas 👛
🥝 Memecoin harvest
If these memecoins are a joke, then the punchline is revenue 🤪
Information as of 11:00 AM EST.
🫖 Wrapped up in drama
Everybody, dinner’s prepared! Tonight’s particular – beef with a aspect of piping scorching tea.
BiT International is coming for Coinbase’s neck with a $1B lawsuit, claiming their Wrapped Bitcoin (WBTC) acquired delisted simply so Coinbase’s cbBTC may steal the wrapped Bitcoin crown.
Coinbase’s chief authorized officer, Paul Grewal, clapped again with the traditional “nothing private – it is simply enterprise <3” line, saying that Coinbase solely lists property that meet their excessive requirements. And, apparently, WBTC now not makes the reduce.
In fact, BiT International affiliate Justin Solar wasn’t having it. He got here by with receipts – an previous publish from Coinbase CEO Brian Armstrong that mentioned Coinbase lists “each asset the place it is authorized to take action.”
Haha, gotcha 😃🫵 Besides… Armstrong fairly explicitly talked about these itemizing requirements. However hey, what’s a tea session with out a little selective storytelling?
🚶 Strolling is underrated
Issues to be careful for earlier than getting right into a taxi:
The driving force may scent like they chain-smoked 40 cigarettes a second in the past;
You is perhaps handled to the worst playlist you’ve got ever heard;
The “so, yeah… politics” dialog starter that by no means ends in settlement;
“I do know a shortcut”;
Oh, and apparently, your crypto pockets may get drained.
Living proof: Nuruhussein Hussein, who stole $300K in crypto pretending to be an Uber driver in Arizona.
How did he pull that off? This is the passenger’s POV:
You are ready to your journey. A automobile pulls up, and the motive force calls out your title. Bizarre that the app would not say they’ve arrived… however hey, they know your title, so it is gotta be legit, proper?
Subsequent, the motive force asks to your cellphone, saying his is lifeless or providing to “repair” why the app did not verify his arrival;
Whereas they have your cellphone, they switch all of your crypto to a chilly storage pockets.
Now, Hussein’s POV of the aftermath: you get arrested and hit with costs of theft, fraud, and cash laundering.
In any case, ethical of the story: if it feels sketchy, it most likely is. Grandma did not let you know about stranger hazard for nothing – make her proud, watch out.
🍋 Information drops
🌊 OpenSea’s registration within the Cayman Islands has folks speaking a few potential token launch and airdrop. Many see this as a method to sidestep US laws.
💸 Ripple’s CTO, David Schwartz, warned about potential “provide shortages” when their RLUSD stablecoin launches. He additionally mentioned: “Please do not FOMO right into a stablecoin! This isn’t a chance to get wealthy.”
🤑 Donald Trump’s DeFi challenge, World Liberty Monetary, went on a $45M token buying spree this month. The haul? ETH, cbBTC, LINK, AAVE, and ENA.
🐿 Mark Longo, proprietor of Peanut the Squirrel, despatched Binance a cease-and-desist. He accuses the change of utilizing his Peanut the Squirrel trademark with out permission to advertise the PNUT token.
🤖 OpenAI co-founder Ilya Sutskever thinks we’re nearing the top of the AI pre-training period, and AI superintelligence is on the horizon. He identified that computing energy is enhancing quicker than the quantity of information obtainable for coaching, so we should now work with what’s already on the market.
🍌 Juicy memes
