I heard about this as it went live and the market barely moved. Especially a token like Binance. I think unless he is actually fires then most likely it’ll go nowhere.

It’s not that easy to fire him. It’ll have to go thru legislation which will take time. And keep in mind that Gary has a lot of power from many people in the high ups. You can’t just easily fire him like you would a McDonald’s workers.

The egg shortage was mostly in the United States but due to the media and everything it created A lot of panic like in the Covid toilet paper days and spread to other countries like Canada.

I heard in Canada we won’t have an egg shortage because what affected USA didn’t apply to Canada. However I would go shopping and people were stocking up on eggs. And they was quantity but it was low.

The problem went away after a few weeks and now supply is good.

Don’t ever trade those leverage tokens. You are better off just trading futures. They are very illiquid and horrible spread and since it’s a leveraged token you will have decay like an option pretty much.

The only good thing about these tokens is that you can withdraw them from the exchange and there is no counterparty risk since with future trading you need your maintaince margin in take exchange at least.

I used those old paper wallet sites before but you need to verify if it’s legit first and then make sure to do a checksum on it. I think bitaddress dot org is the only legit one out there.

Another issue is you need to save the website and run it off line when you generate the private keys. Never do it online. And never store it in a password manager. It’s never safe that way.

Bitcoin and Ethereum didn’t really have a huge drop. It’s the alts that got hit with some losing 25% in a single day. Bitcoin is fairly safe since it’s definitely not a security. Maybe same with ETH. The issue is that the rest might be called a security and no exchange will be able to trade them if they serve us customers.

Hence why the sell off started. I also think that Binance US will close up shop in USA. Basically not worth it for them with all this regulation going on. Fiat deposits and withdraws are also closed. So it’s basically crypto only at the moment.

Remember right after Ftx went bust, CZ said that Binance is huge and most likely will be highly targeted and he was correct.

The amount of fud and bad news thrown at binance and CZ since FTX is crazy. But they are still here.
So I think BNB still has value and utility. However most likely no US people will be able to hold that token if they forbid it.

Maybe alts can lose 90% or ETH is it’s deemed a security but I don’t see BTC going to $9K because who is there to sell really?
Most people got cleaned out during the dump to $15K. And many who bought from the low won’t sell at these prices because they are expecting it to go higher.

Bitcoin will never be deemed a security so it doesn’t have that issue like most of the tokens on exchanges.

This actually happened yesterday. Basically banks are separating themselves from binance us and they had no choice. This actually isn’t the first time it happens with binance. Even the Australian banks stopped doing business last month with binance.

Basically it’s a crypto only exchange similar to how bitmex was back in the day. Crypto in and crypto out. And the time line to withdraw fiat is extremely short. Many will simply convert to stable coins and withdraw to another exchange.

One thing I don't understand is why POW coins like Doge and LTC are suffering. I am assuming there is a chance that in the USA, many ICO tokens such as ADA or MATIC will be deemed securities and they won't be tradeable on BinanceUS or any of the other exchanges located in the USA.

However some coins such as Doge or LTC are dumping also, which are purely POW. So I am assuming its some large fund that got liquidated over the weekend. Their margin hit on MATIC / ADA / SOL and if they were cross collaterated their other alt positions started to dump.

I find this to be one of the most unreliable indicators out there. In your examples it looks like a good setup because it worked however if you draw these in real time you will find out that you will get chopped due to how unreliable the odds are the wedge breaks.

I think the only common technical indicator is a basic horizontal support and resistance. Most trades can spot these areas and usually around them is some action. Same with psychological numbers. Sometimes on the very high time frames you can add Fibonacci, however even that can be unreliable at times.

I think about 5 years back one of Hal’s kids moved some funds which were in one of Hal’s addresses. It was a small amount but i think his family was moving dust to send to an exchange and sell.

If you search all of Hal’s known addresses you will see a recent transaction about 5 years back and it was his kids that moved those funds. So maybe they are the same ones that signed the message for a fee.

I don’t think he will go far enough to have crypto banned in USA. The other exchanges such as Coinbase, Gemini, Cryptodotcom and Kraken will fight back. Even coinbase said they wouldn’t delist tokens unlike Binance and Robinhood.

Since he wanted to be an advisor for Binance, I think the judge will drop the case due to a conflict in interest. Of course he is going to sue the one company that refused to hire him back in the day. Why he isn’t fired yet is surprising.

They probably aren’t enforcing it because it’s only 200 sats which is like 4 Pennies. So with 20 accounts you don’t even make a full dollar. Not worth the headache really.

People used to do this with Bitcoin casinos like dice sites. They gave a faucet of like 1000 sats. And people would gamble with it to hit the min withdraw. Eventually people started to abuse it and they had to remove it.

Originally when this news came out they started a huge sell off but it seems to have settled down and it had a nice pump right after. You need to understand that Bitcoin is global and this is just 1 exchange in 1 country. Other countries aren’t going after binance. So crypto will be fine.

However I think that Binance US won’t continue anymore with all this negative press. The exchange wasn’t that large to begin with anyways. Most people never used it. So everything will be fine after this.

It’s basically impossible to have a hit rate that well. Most likely what he is doing trading with extremely low leverage and basically never closes his losing trades. He probably keeps them open.

You need to becareful with many of these Copy traders. They usually get a lucky streak but it’s short lived. Eventually you start to follow and shortly after some trade goes against them and they end up blowing their account up and yours. Most profitable traders don’t share their positions.

Originally it was assumed they were getting sued for listing tokens which are considered securities like SOL and ADA. And coinbase also has this issue.

However today there was evidence that CZ might of used US customer funds to trade with them without their permission. Basically after silvergate and signature went bust, they looked at their records and found that they moved customer funds to CZ and that was used to trade, so no different than SBF.

Are you from Canada? Seems we got similar prices as yours mentioned.

Yes inflation is crazy. Hence why Bank of Canada did a surprise hike of 25 bps because inflation is not under control and employment is very tight.

Seems every month there are more and more prices increases. These days a decent medium pizza is like $15 here and maybe $21 or so for a large size. A remember a few years ago a decent pizza was more like $9 or so. So it certainly has gotten crazy.

And the wages obviously haven’t caught up.

The SEC released a statement that they did an analysis of Silvergate and Signature Bank that many of the funds of BinanceUS customer asset were infact sent to a company called Merit Point which was owned by CZ and these funds were traded with as FTX did.

Only thing I don’t understand is that it went to Paxos which was the BUSD stablecoin. If someone used BinanceUS did it automatically convert USD and USDT to BUSD? If so it might make sense why these customer funds were sent to Paxos.

Seems this is ongoing and every few hours there is something new. First they sued them, then next day it was Coinbase, now they are freezing their assets, then Binance lawyers said they want the case dropped since Gary was actually wanting to work for Binance in the past and now they are saying they traded with customers funds.

They are claiming that customer funds were sent to Merit Point which was owned by CZ and they were used as investments for certain assets. Basically what Ftx did pretty much. No idea what to believe is true anymore.

Most likely tomorrow or by the end of the week they will be suing Kraken, Cryptodotcom, Gemini and any other US based crypto exchange which lists those dozens of tokens which they consider securities.

Seem right now only the POW coins are safe and ETH. But any coins or tokens which had any type of ico then it’s considered a security which pretty much is most tokens these exchanges have listed. Nothing looking good. Most likely all these exchanges will stop providing services to US customers due to this.