Wanna know something funny about the
@binance
/
@FTX_Official
relationship? And perhaps the origin of the feud?
Remember this 2019 tweet? Read on and follow me for the lulz...
1/4
A market maker from a smaller futures exchange tried to attack
@binance
futures platform. NO ONE was liquidated, as we use the index price (not futures prices) for liquidations (our innovation). Only the attacker lost a bunch of money, and that was that.
@__phiphou__
T'es ridicule Philippe. Des doctorants en maths se trompent. Ce problème correspond à un biais cognitif spécifique. Ça ne veut pas dire qu'on est bête si on se plante. C'est quoi cette condescendance malsaine?
The rumour that Blackstone & Citadel borrowed 300k BTC from Genesis to kill Terra is so mind-boggingly stupid. So many reasons why... and it was relayed by a senior banker at a major i-bank... how do these guys get paid so much?! No wonder they're afraid of us
Here's a thread 🧵
@narindertweets
Huh no, 1.5 million muslims did not die for Britain in WW2
You're confusing the number of fighters with the number of casualties (60,000)
Borrowing $10bn and gambling it all on black isn't necessarily fraud
For
@SBF_FTX
to go to jail, there must be a crime such as knowingly sharing falsified financials
That may not be the case and you're going to have to accept it
I had originally planned to send a summary of Goldman's IMD call to our clients today, but I won't because their
#bitcoin
take is so bad that sharing it would hurt the credibility of my business.
@ZeClint
C'est très simple.
Ce n'est pas parce qu'on est éthiquement contre l'abattage des animaux qu'on n'aime pas la viande, son goût et sa texture.
Voilà.
@thechosenberg
There is a massive gap between hot people and ugly people, and it includes height. It remains unacknowledged. Hot people play on easy mode.
Cognitively it's hard to fathom, but if everyone could walk 5 miles in the shoes of a very hot male or female, there would be uprisings.
My theory on Genesis:
- 3AC bought GBTC hoping to sell at premium after 6-month lock-up
- got tons of leverage from Genesis, with the purchased GBTC shares as collateral
- premium goes to discount (and other things), 3AC defaults
- Genesis stuck with $1bn of GTBC it can't sell
OK my theory on Alameda, not rocket science:
- Alameda had non-liquidating account on FTX
- money printer usually goes brrrrr by taking other side of retail liquidations
- except they bought $1bn+ of worthless LUNA in the crash, no stop-loss
Tomorrow my theory on Genesis
.
@CMEGroup
doubled max position per contract from 2k to 4k BTC ($2.5bn). ProShares $BITO ETF close to limit with ~1900 Oct contracts. Would clearing house be comfortable beyond 4k? Doubtful. What happens when $BITO surpasses 4k as it surely will?
Note: $GBTC discount at 15%
I didn't have Genesis on my bingo card. Wow. That leaves very few players in the OTC market...
@B2C2Group
wishes to extend an offer to purchase loans from
@GenesisTrading
's book to alleviate the current liquidity shortfall.
A good friend who worked there told me a year ago that Alameda and FTX shared about 10 developers altogether
for the whole thing!
Their accounting system was coded on an napkin by 2 nerds high on stimulants
$FTT at $7
Why? Perhaps it's use as collateral
I suspect lenders and lender-like businesses woke up to this drama and are now forced to liquidate
Celsius tried to force CEL as collateral on lenders too
One major thing I learned from "making it":
there is no conspiracy
No one controls the world from the shadows, not even billionaires. Quite the opposite - no one has any idea what they are doing
Let's migrate to EUR stablecoins
Rates are positive again in Europe. The business case is there
There could even be on-chain EUR/USD NDFs to create decentralized synthetic dollars from a EUR stablecoin
@SylvainPerdrix
Monsieur, si vous êtes assez bête pour croire que l'héritière d'un groupe majeur à le moindre contrôle journalier sur des décisions telles que le choix des clients, vous ne comprenez pas suffisamment le fonctionnement de la société pour occuper un poste d'importance. Bien à vous
I think young men significantly overestimate the extent to which muscles are attractive to most women and significantly underestimate the extent to which kindness and humor are attractive to most women. They should make bro supplements for kindness and humor.
@veguigui
Courage à vous. J'étais aussi d'extrême gauche et anti-israélien jusqu'à l'âge adulte. Le 7/10 m'a bouleversé. Vous n'êtes pas seule!
PS: Klimt déchire
Me in 2014, le rates tradeur: "this
#bitcoin
thing is not so likely to succeed, you'd need global interest rates to go to zero, and central bank money printing like 2008 was a crisis for ants"
Me in 2020:
In ~2017, without big time VC money, B2C2 fought with less balance sheet than its peers.
We wanted credit intermediation, but what we wanted didn't exist. We grew the business painstakingly.
Now we will try to build for our clients that prime brokerage we wish we'd had.
Institutional cryptocurrency trading firm
@B2C2Group
has formed a new strategic partnership with SBI Holdings after the Japanese firm agreed to take a $30 million stake.
Via
@Dan_Z_Palmer
@AzakuzaToshiro
Quand je vais dans des aéroports au Moyen-Orient je suis toujours choqué de voir des hommes en jeans/t-shirt avec des femmes en burka.
Ça ne peut que choquer toute sensibilité humaniste
@ParolesDHonneur
quel débile ce type
on est nombreux de mon entourage à avoir accédé à la richesse, venant de classes moyennes ou populaires
GRÂCE À L'ÉCOLE
ça me met hors de moi
S&P e-mini futures limit down at the open and 10-year UST yield down only 10bps after the biggest Fed intervention in recent memory - if that's not a bearish signal, I don't know what is. Perhaps the credibility of the US government is finally being questioned by markets.
With former teammates at
@B2C2Group
, we just launched
@pv01_markets
, a new startup
We will put bonds on the blockchain
I'll explain why and how in the near future
Thanks for your support! Check us out: (pee-vee-oh-one)
In 2008, I deposited $1100 from my Google intern salary on Intrade and started making markets programmatically.
#2
may require more skillz but I vote for
#1
, because it takes balls when you've only got a couple grand to your name.
Good luck, young ones 🍀
@__phiphou__
Mais non c'est pas lié à la lecture bon sang. Si je te sors une équation que tu sais pas résoudre, je vais dire que tu sais pas lire ?
Si tu as un test avec 98% d'efficacité (il donne la réponse correcte 98% des fois) et que tu testes positif à une maladie dont la prévalence est
How did we let the authorities argue that $bitcoin is too volatile to be investable?
PayPal ($PYPL) is down 70% in 6 months
a household name!
so fucking stupid
and everyone knew it. TradFi had crazy products like $VXX already (look at 5y chart)
credibility destroyed - again
In 1890, Argentina was
#1
in GDP per capita. Today, it is
#60
after a century of bad economic policies
The same is happening to Western Europe in front of our eyes
I don't think we see a turnaround this side of 2040
Ferrari To Accept Crypto Payments!
Ferrari has started accepting cryptocurrencies like bitcoin, ether, and USDC for its luxury cars in the U.S., with an eye on expanding to Europe. The Italian automaker has partnered with BitPay, a major crypto payment processor, to handle the
.
@circle
will halt $USDC redemption, else it will go to zero
You read it here first
Simple maths; been saying for years that underfunded stables jump from $1 to zero, there is no equilibrium at the level of underfunding. ONE or ZERO
This take would be acceptable from a low-IQ guy like
@PeterSchiff
, but is surprising (to say the least) coming from
@CaitlinLong_
, a "22-yr Wall St veteran" according to her bio.
Here's how OTC desks actually work:
JPMorgan: "liquidity on major
#bitcoin
exchanges was more resilient in March than traditional macro asset classes"
One reason is our open entry, level playing field ethos. Dozens of dudes making markets from a garage in Shenzhen.
See also:
one thing I find mind-boggling about Alameda/
@FTX_Official
is that so many of its executives loaned themselves billions of dollars while they knew Alameda had become unprofitable
no sense of decency
@benoithamon
Cher Monsieur, vous êtes arrivé 5ème en 2017. Vous n'étiez rien alors, vous n'êtes pas plus aujourd'hui.
Votre idéologie est à bout de souffle. Disparaissez paisiblement, pour le bien de tous.
@Sargon_of_Akkad
not true
Wall down the street in milan or Paris with a woman like that and heads turn
Huge status symbol whatever you think of their looks
@Margueritestern
Y a rien de mal à être en trouple je trouve. Si des gays peuvent élever un gosse, pourquoi pas 3?
N'allez pas trop loin dans l'autre sens non plus hein
This chart shows the difference between interest rates on credit cards and what big corporations pay to borrow.
Fed policy not contributing to
#inequality
? Mr. Powell is either stupid or dishonest.
#FederalReserve
Btw that’s a Mulberry Cara backpack. They were just shy of a grand new when the collab went on sale in 2014. They still sell for over £500 on Vestiaire.
Huh the tech at FTX is widely known to be shit
To put it bluntly FTX & Alameda were built by a bunch of juniors from Jane Street which itself is not a tech leader
Also Alameda lost its edge because their tech was lacking
FTX having good tech is just a meme
6/ So the 50m bid here would (if it is the highest offer received) set the floor price for the auction and a full marketing process will have to be performed.
Since the engine is the crown jewels of the exchange-side of the FTX estate, I doubt the auction ends at 50m.
In late 2018 a leak of data from a VC called "Origin X Capital" contained a bunch of Alameda documents
Perhaps they would shed some light on the current situation
@RimaHas
C'est ce qu'on appelle la diplomatie, Rima. Si tu peux pas comprendre pourquoi on est polis avec nos adversaires comme avec nos partenaires, t'es pas prête de trouver une solution au conflit israëlo-palestinien.
@j_presles
C'est très simple.
Ce n'est pas parce qu'on est éthiquement contre l'abattage des animaux qu'on n'aime pas la viande, son goût et sa texture.
Voilà.
Btw that’s a Mulberry Cara backpack. They were just shy of a grand new when the collab went on sale in 2014. They still sell for over £500 on Vestiaire.
Cliff and I will launch a longform video podcast series soon discussing life, belief systems, and mental health.
Allah does not charge a soul except that which is within its capacity.
most don't understand what a crime is
fucking up is not a crime
neither is breaching a contract
yes, even if 3AC managed treasuries for projects and poofed the money, it's still not a crime
you will live happier if you understand this. same reason few 2008 bankers are in jail