Hey Guys,
Despite what the crypto charts might have you believe, the first week of the year was surprisingly bearish for crypto. There were no shortage of negative headlines that the crypto community hasn't fully appreciated yet, which is why I'm here to break it down.
For starters, Sam Bankman-Fried is a “free” man, at least until his next trial date in October. In the interim it looks like he's been sharing valuable information with US authorities about big crypto companies. Recall that FTX and Alameda were very well connected.
To that end, Binance, DCG, and Silvergate have all been experiencing issues. Not surprisingly, all three entities had close connections to FTX and Alameda, but I suppose that's true of most crypto companies.
Then, we finish off on some onchain analysis by the one and only Ben Cowen.
Enjoy, if you can…
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⛓️ 🔗 Useful Links 🔗 ⛓️
► SBF Pleads Not Guilty: https://cointelegraph.com/news/sam-ba…
► Regulators Probe Binance Related Hedge Funds: https://cointelegraph.com/news/hedge-…
► DCG Investigated by DOJ and SEC: https://www.coindesk.com/business/202…
► Silvergate Bank Run: https://cointelegraph.com/news/silver…
► Google Panics Over ChatGPT: https://www.cnet.com/tech/services-an…
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📜 Disclaimer 📜
The information contained herein is for informational purposes only. Nothing herein shall be construed to be financial legal or tax advice. The content of this video is solely the opinions of the speaker who is not a licensed financial advisor or registered investment advisor. Trading cryptocurrencies poses considerable risk of loss. The speaker does not guarantee any particular outcome.
