🚕 How an Uber trip value somebody $300K
Plus: Justin Solar calls out Coinbase on delistings
GM. Immediately’s Day by day Squeeze delivers a basket of blockchain fruits – some ripe, some slightly bruised, however all the time contemporary.
⚖️ Coinbase obtained sued for delisting WBTC.
🚕 How a faux Uber driver stole $300K in crypto.
🍋 Information drops: the NFT neighborhood expects an OpenSea token, Ripple CTO’s message concerning the launch of RLUSD + extra
🍍 Market taste right now
You already know it is a massive day when even your uncle, who thinks blockchain is one thing you could 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 concerning the subsequent cease being an 89:1 ratio.
Now, how did we get right here?
Donald Trump mentioned that he needs to “do one thing nice” with crypto;
Microstrategy is ready to affix the Nasdaq-100 Index this month = extra eyes on its shares = extra Bitcoin buys;
Persons are anticipating an rate of interest lower 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 could possibly 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 implies there’s in all probability nonetheless some fuel within the tank for extra upward motion earlier than we hit any severe resistance 🚀
Who is aware of, possibly by the point your uncle figures it out, Bitcoin can have doubled. Or tripled. Both manner, he’ll undoubtedly be texting you for pockets setup suggestions 👛
🥝 Memecoin harvest
If these memecoins are a joke, then the punchline is revenue 🤪
Knowledge 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) obtained delisted simply so Coinbase’s cbBTC might 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 lower.
In fact, BiT International affiliate Justin Solar wasn’t having it. He got here by means of with receipts – an outdated put up 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 and not using a little selective storytelling?
🚶 Strolling is underrated
Issues to be careful for earlier than getting right into a taxi:
The driving force may odor like they chain-smoked 40 cigarettes a second in the past;
You could be handled to the worst playlist you have 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.
Working example: 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 on your trip. A automotive pulls up, and the driving force calls out your title. Bizarre that the app does not say they’ve arrived… however hey, they know your title, so it is gotta be legit, proper?
Subsequent, the driving force asks on your cellphone, saying his is useless or providing to “repair” why the app did not affirm 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 expenses of theft, fraud, and cash laundering.
In any case, ethical of the story: if it feels sketchy, it in all probability is. Grandma did not inform you about stranger hazard for nothing – make her proud, watch out.
🍋 Information drops
🌊 OpenSea’s registration within the Cayman Islands has folks speaking a couple of doable token launch and airdrop. Many see this as a strategy to sidestep US rules.
💸 Ripple’s CTO, David Schwartz, warned about doable “provide shortages” when their RLUSD stablecoin launches. He additionally mentioned: “Please do not FOMO right into a stablecoin! This isn’t a possibility to get wealthy.”
🤑 Donald Trump’s DeFi mission, World Liberty Monetary, went on a $45M token purchasing 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 trade 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 bettering quicker than the quantity of knowledge obtainable for coaching, so we should now work with what’s already on the market.
🍌 Juicy memes
