First reaction, what the * is Bitzlato?
Can't find any volume stats on them, neither Coingecko or CMC are of any help here.
Agreed. There is nothing concerning about the takedown of this exchange. However, as I mentioned in another thread, what should be concerning is much of the transactions of Bitzlato has been with the darknet marketplace Hydra, there are also transactions with a Russian ponzi scheme and with Binance which might imply that the exchange is being used as a part of a moneylaundering scheme. News of a crackdown on Binance would certainly cause another big dump. Approximately two-thirds of Bitzlato’s top receiving and sending counterparties are associated with darknet markets or scams. For example, Bitzlato’s top three receiving counterparties, by total amount of BTC received between May 2018 and September 2022 were: (1) Binance, a VASP; (2) the Russia-connected darknet market Hydra; and (3) the alleged Russia-based Ponzi scheme “TheFiniko.”Source https://www.fincen.gov/sites/default/files/shared/Order_Bitzlato_FINAL%20508.pdf |
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@DireWolfM14. However, to witness Brock Purdy in the superbowl or to witness a miracle that the 49ers win the superbowl because of a deep pass would certainly be another classic underdog story for the sport. What would the 49ers do to Trey Lance next season hehehe. The fans and the viewers might want to watch more of Purdy.
That would be a good issue for San Francisco to deal with. But if Brock Purdy even leads them to a superbowl and lose it, you might see Purdy as the starting qb next year. I know SF put a lot of time and draft capital in trey Lance but none of that matters over winning. Look at Brady and what he did to Drew Bledsoe. You win you play simple  On that year of the drafts, speculations were high for Trevor Lawrence, Trey Lance and Justin Fields. Trevor Lawrence is presently in the post season, Justin Fields appeared to be much improved on the last few weeks of the regular season, however, Trey Lance is in another year of being in the IR. He might not be durable enough for the NFL, I reckon. |
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@Rikafip. It appears that our surprise movie for this year's Oscar awards might be All Quite On the Western Front after receiving the highest number of nominations in BAFTA with 14. There are movie experts beginning to speculate that Edward Berger might be an unexpected winner for best director.
I might watch the movie later, it is available in Netflix. I always see it being recommended, however, I always ignore it to watch Spy Family hehehehehe.
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I was not expecting Inoue to challenge Stephen Fulton first! I was speculating that he will challenge Akhmadaliev then challenge Fulton for a unification superfight. It appears they want to first take the more difficult challenge hehe. Inoue would be making more money if he had half of the super bantamweight already through Akhmadaliev before challenging Fulton.
In any case, this will be a very entertaining year for the sport of boxing! Tank Davis vs. Ryan Garcia, Tyson Fury vs. Usyk and Spence vs. Crawford!
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@DireWolfM14. However, to witness Brock Purdy in the superbowl or to witness a miracle that the 49ers win the superbowl because of a deep pass would certainly be another classic underdog story for the sport. What would the 49ers do to Trey Lance next season hehehe. The fans and the viewers might want to watch more of Purdy.
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Finally, the last obstruction to make this happen is cleared as Dela Hoya posted on social media the contract of the Ryan - Davis fight, so glad that they did not make this another Spence - Crawford scenario, this is the biggest fight coming in April I'm eager to see their press conference and their face off and what they are going to say to each other. Tank Davis vs Ryan Garcia deal appears done, De La Hoya shows off contract I am very skeptical hehe. I speculate that Oscar dela Hoya knew already that the contract will be signed he and only created some headlines to give the fight more attention from the sportsnews media. It worked, I reckon. Everyone started to talk about Tank, King Ry and similar to me, people were creating storylines of which boxer really does not want to fight on May hehehehe. In any case, is the fight on April or May? I have read a few articles where it was mentioned to be on May. Newer articles mention it will be on April. |
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Head shaking because Barry's best investment decision would have been to hold Bitcoin, Ethereum and he should have avoided being involved around Ethereum Classic. This is very much similar to these other hedge funds and financial experts in the cryptospace similar to 3 Arrows Capital and Alameda Research. I really thought they were experts. I am presently becoming more skeptical on the people who run the cryptospace. Cryptocurrency lender Genesis Global Capital is planning to file for bankruptcy as soon as this week, Bloomberg News reported on Wednesday, citing people with knowledge of the situation.Source https://www.reuters.com/technology/crypto-firm-genesis-preparing-file-bankruptcy-bloomberg-news-2023-01-18/ |
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@o_e_l_e_o. I am talking about whale traders, not the whales who belong to the banking insitution category. Institutions want their own trading desk with their own orderbook or a trading desk of another institution that they trust. Also, should the community be more concerned on Binance or is it still considered reasonably safe from being the next exchange to bite the dust? Mid-day Wednesday, federal prosecutors proudly announced criminal charges against Bitzlato, a Hong Kong-based cryptocurrency exchange. The exchange’s founder, Russian national Anatoly Legkodymov, apparently known by the nickname “Gandalf,” was arrested last night in Miami.Source https://decrypt.co/119494/crypto-panics-then-jeers-at-doj-announcement-of-major-action-against-tiny-chinese-exchange-bitzlatoThis is where the news on Bitzlato becomes more concerning for Binance. Approximately two-thirds of Bitzlato’s top receiving and sending counterparties are associated with darknet markets or scams. For example, Bitzlato’s top three receiving counterparties, by total amount of BTC received between May 2018 and September 2022 were: (1) Binance, a VASP; (2) the Russia-connected darknet market Hydra; and (3) the alleged Russia-based Ponzi scheme “TheFiniko.”Source https://www.fincen.gov/sites/default/files/shared/Order_Bitzlato_FINAL%20508.pdfThe big outflows, the mass liquidations, the undercollateralization on BUSD and presently this news on Bitzlato should make the community more concerned, I reckon. |
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Currently I don't think Binance would passed through these process as FTX does, the exchange is known to be a global leading exchange and for that is a strong and solid trading platform.
I can't even imagine seeing bnb going that low to an extent of being just $100, but have you also forgotten that they have their own blockchain where lots of funds are being generated via transaction fees and many more?
I really understand that CZ is indeed rumored to be the mastermind behind the collapse of FTX, and of course it will make Binance also be affected, but I think CZ has gone beyond this news and until now CZ is really working fully and brushing aside the nonsense from the news, I myself am not worried about BNB going bankrupt, because that's impossible if you look at the current performance of CZ now. It was not a rumor. CZ was the one who triggered the collapse of FTX by dumping FTT. Sam was using FTT as collateral in much of their loans and the dump on FTT's price caused liquidations on those loans. On CZ, it is becoming more concerning. There is a rumor saying that an insolvent platform is manipulating this pump before conducting of an audit. However, no one is sure if the insolvent platform is Binance, Digital Currency Group or another platform. What we can be quite certain of is a pump was what also what FTX orchestrated before their audit. Someone might be doing the same tactic hehe. |
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@STT. Jim Cramer makes predictions in the stock market and the cryptospace market. He is also know for his bad timing. The market pumps when he is bearish and dumps when he is bullish. The stock market and the cryptospace market are also correlated in some ways and for this reason when uncle Jim predicts something, prepare for an inverse occurence in stocks and the cryptospace hehehhehe. Jim made another prediction. Why is uncle Jim doing this to the community?  Cramer sees bullish signs starting to emerge in the stock marketSource https://www.cnbc.com/2023/01/16/cramer-sees-bullish-signs-in-the-market-just-not-in-the-same-places.html |
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It might not be as simple as because CZ is very rich, he can do this and this. According to some news articles, Binance has been bleeding assets. $12 billion in less than 60 days according to a video interview in Forbes published on January 10.
Rich people usually do whatever they want, at least that's the impression they leave on the public. The question is how committed CZ is to what it represents, that is, will it protect the liquidity of its business with its own funds? It seems to me that he very skillfully balances on a line that is often in the gray zone as far as his business is concerned, and it seems that he is still a little more intelligent than Bankman. However, according to the report, there were times when new Binance-Peg BUSD tokens were minted without having locked up the equivalent amount of collateral in the form of BUSD, the report said.[/i]
This does not surprise me in the least, because it is no secret that in the world of so-called stablecoins, many companies issue tokens without being backed by anything - and if you remember that at one point the company behind USDT admitted that only 70% of their tokens is backed by USD. It is precisely because of such things that I have never been a supporter of stablecoins, and I believe that they represent a very serious possible attack vector on Bitcoin if some powerful governments like the US decide to take that step. Did I read your reply correctly? It appears for the first time we are in agreement in an argument hehehe. In any case, with losing confidence and mass liquidations happening in Binance and with their stablecoin fractionalizing and becoming something undercollaterized, is this only a matter of time before we witness Binance become something similar to the bankruptcy of Lehman Brothers? |
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He doesn't have that spark, its like hes just going through the motions.
He had a wide open field right before the half and didn't even try to run for the first.
Disappointing showing by Brady and most of TB. Brady should retire but the thing is next year he can still make a sucky team slightly less sucky, so he probably won't. Disapponting but not very shocking. Tom Brady has not been playing very well since the regular season. It might be because of the divorce which might also be caused by the bad investment he and his wife made in FTX. He also cannot retire. He has to make $650 million he lost in Sam Bankrupt-Fried's blackhole hehehe. In any case, this Cowboys' kicker might be in a mafia list of paid players somewhere. Missed 3 extra point field goals? This is very head shaking. |
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It appears that Tank vs. King Ry will end very much similar to Crawford vs. Spence. They avoid each other because they are afraid that losing would affect their attractiveness to promoters and lower their demanding price during contract negotiations. This is very bad for the fans and very bad for the sport of boxing. The best boxers should be fighting against the other best boxers. Boxing's only chance for the greatest superfights on 2023 might only be from Naoya Inoue.
I don't know if both are being really protected by their promoters, or the boxers themselves are afraid to have their 0 gone. We've seen a lot of great boxers, who lost their 0 and yet still the cash cow, for instance Canelo Alvarez or even Manny Pacquaio. I think still boils down to money and the purse split and which network are going to carry this fight. I agree, however, not all boxers can have similar careers as Canelo and Pacman and look at who Canelo and Pacman fought. Also, whatever happens Canelo and Pacman have become known names already. I reckon Tank and King Ry are not much known outside the world of boxing. In any case, the skeptical me thinks that this ultimatum is Golden Boy's trick to withdraw from the deal. The reason, yes, I said it already. Golden Boy can make more money from Ryan Garcia with an undefeated record than with a loss in his record. |
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They will also call their exchange GTX hehehehehe. The cryptospace is a comedy show that never stops to give us funny jokes and it is being run by the most funny jokers, hustlers, weirdos and criminals. Someone might tell me that I am being antagonistic again and they will say that Wall Street also being run by criminals. Agreed, however, there is a difference. The criminals in Wall Street are those who rule the country, the criminals in the cryptospace are the jokers and the hustlers who founded crypto companies. Su Zhu and Kyle Davies, the founders of collapsed crypto hedge fund Three Arrows Capital (3AC), are hoping to raise $25 million to start a new crypto exchange called GTX, according to two separate pitch decks obtained by The Block.
News of the fundraise comes two months after exchange giant FTX imploded, leaving more than a million creditors out of pocket. The new exchange takes advantage of the situation offering depositors the ability to transfer their FTX claims to GTX and receive immediate credit in a token called USDG, the pitch deck said.
The exchange’s name is even a spin on “FTX,” with one of the GTX pitch decks opening with the line "because G comes after F." Read in full https://www.theblock.co/post/202589/3ac-zhu-davies-new-crypto-exchange |
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Another question is in what currency will Binance pay their new staff? If this is in BUSD, I would not be shocked if they have began issuing unbacked BUSD and fractionalized this more.
Isn't CZ one of the richest people when it comes to the cryptocurrency world with a fortune measured in billions of $? Besides, with all the income that CEX generates, why would it be a problem to pay new employees, especially if they come from countries where the average wages are very low? I don't know what CZ has in mind, but somehow it doesn't seem to me that this is the right time for anyone to start playing with such things, unless they want to be the next big scandal in the crypto world. However, anyone who has any sense and understands what is happening should not believe in any stablecoin/token, because for me most of those coins are not backed by anything other than empty promises. It might not be as simple as because CZ is very rich, he can do this and this. According to some news articles, Binance has been bleeding assets. $12 billion in less than 60 days according to a video interview in Forbes published on January 10. Binance Is Bleeding Assets, $12 Billion Gone In Less Than 60 DaysSource https://www.forbes.com/video/6318474359112/binance-is-bleeding-assets-12-billion-gone-in-less-than-60-days/This is mass liquidation, I reckon. Traders might be losing confidence and they are cashing out. Also if an exchange or an investment bank goes through a mass liquidation, it might break unless they find another source of dollars to refill the billions of dollars that those customers have withdrawn. Will CZ use his own personal wealth to refill the billions in outflow? I do not know the answer hehehe. On BUSD, it has fractionalized and it might presently be fractionalized.  Bloomberg reported Tuesday (Jan. 10) that the Binance-Peg BUSD reserves were at three separate times missing collateral of as much as $1 billion.
The cryptocurrency exchange’s token is meant to have its value backed by reserves of another stablecoin, BUSD, that has the Binance brand but is issued and managed by Paxos Trust and is backed by a reserve of cash and U.S. Treasury bills, according to the report.
However, according to the report, there were times when new Binance-Peg BUSD tokens were minted without having locked up the equivalent amount of collateral in the form of BUSD, the report said.Source https://www.pymnts.com/cryptocurrency/2023/binances-stablecoin-was-at-times-undercollateralized-by-up-to-1b/ |
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It appears that Tank vs. King Ry will end very much similar to Crawford vs. Spence. They avoid each other because they are afraid that losing would affect their attractiveness to promoters and lower their demanding price during contract negotiations. This is very bad for the fans and very bad for the sport of boxing. The best boxers should be fighting against the other best boxers. Boxing's only chance for the greatest superfights on 2023 might only be from Naoya Inoue. Oscar De La Hoya publicly issued an ultimatum early Sunday morning.
Ryan Garcia’s promoter stated through his Twitter account that he has not yet received Garcia’s contract for his pay-per-view showdown with Gervonta Davis. According to De La Hoya, if they don’t get a contract from Davis’ handlers by Monday, he will begin looking for another opponent for Garcia’s next fight.
“I have no contract,” De La Hoya wrote. “Deadline for me is Monday or I’m moving on.”Source https://www.boxingscene.com/de-la-hoya-on-tank-davis-ryan-garcia-i-no-contract-deadline-monday-moving-on--171834 |
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This might be off the topic, however, I reckon it will be very relevant for the people who hold cryptocoins and NFTs. A known whale in the NFTspace has also been hacked and much of his coins and valuable bluechip NFTs were stolen. This person however appears to not have the technical competency of a bitcoin developer hehe. Last night my entire digital livelihood was violated.
Every account connected to me both personally and professionally was hacked and used to hurt others.
Less importantly, I lost a life changing amount of my net worthSource https://mobile.twitter.com/nft_god/status/1614442000958324739We can learn from the mistake of others hehehe. |
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The last articles on Barry Silbert were breaking news about Digital Currency Group exposed of owing $3 billion to creditors. However, the cryptospace market does not show that this news might have a negative effect on the market's present attitude. Is the news on Barry and DCG irrelevant already or will we witness something similar to what is being shown in this chart?  |
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~snip~
So as always, get your coins in to your own wallets. Who in their right mind is still using centralized exchanges at this point!?
Apparently millions of those who live in the belief that CEX are crypto banks and that there is no reason not to trust them. Even when the famous CZ is included in the whole story with the claim that 99% of users will sooner or later lose everything if they use non-custodial wallets, I'm not at all surprised that almost nothing has changed after FTX. After all, even some forum members who have access to information see nothing wrong in continuing to believe in various crypto messiahs who promise them that they will never let them down. Whales use centralized exchanges because the markets in them have more liquidity. Give me an example of a decentralized exchange where a trader who trades millions of dollars per trade can buy or sell everyday without moving the market. In any case, for ordinary people in the cryptospace similar to many of us, I agree. This is a reason why there is an argument that ordinary people in the community should try Defi. We can trade in Defi without giving up the custody of our coins. |
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