🚕 How an Uber trip value somebody $300K
Plus: Justin Solar calls out Coinbase on delistings
GM. Right this moment’s Day by day Squeeze delivers a basket of blockchain fruits – some ripe, some just a little bruised, however all the time contemporary.
⚖️ Coinbase received 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 as we speak
You already know it is a large day when even your uncle, who thinks blockchain is one thing you could find in a shed, begins asking questions 🤔 The Worry 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 stated that he desires to “do one thing nice” with crypto;
Microstrategy is about to hitch the Nasdaq-100 Index this month = extra eyes on its shares = extra Bitcoin buys;
Individuals are anticipating an rate of interest minimize this week, translating to extra liquidity that tends to make danger belongings look enticing.
Bitcoindata21’s calling it: a short-term high of round $140K may very well 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 most likely 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 may have doubled. Or tripled. Both manner, he’ll undoubtedly be texting you for pockets setup ideas 👛
🥝 Memecoin harvest
If these memecoins are a joke, then the punchline is revenue 🤪
Information as of 11:00 AM EST.
🫖 Wrapped up in drama
Everybody, dinner’s prepared! Tonight’s particular – beef with a aspect of piping sizzling tea.
BiT World is coming for Coinbase’s neck with a $1B lawsuit, claiming their Wrapped Bitcoin (WBTC) received delisted simply so Coinbase’s cbBTC might steal the wrapped Bitcoin crown.
Coinbase’s chief authorized officer, Paul Grewal, clapped again with the basic “nothing private – it is simply enterprise <3” line, saying that Coinbase solely lists belongings that meet their excessive requirements. And, apparently, WBTC now not makes the minimize.
In fact, BiT World affiliate Justin Solar wasn’t having it. He got here by with receipts – an outdated publish from Coinbase CEO Brian Armstrong that stated 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 with out a little selective storytelling?
🚶 Strolling is underrated
Issues to be careful for earlier than getting right into a taxi:
The driving force may scent like they chain-smoked 40 cigarettes a second in the past;
You is perhaps 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.
Living proof: Nuruhussein Hussein, who stole $300K in crypto pretending to be an Uber driver in Arizona.
How did he pull that off? Here is the passenger’s POV:
You are ready on your trip. A automotive pulls up, and the motive 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 motive force asks on your telephone, saying his is lifeless or providing to “repair” why the app did not verify his arrival;
Whereas they have your telephone, they switch all of your crypto to a chilly storage pockets.
Now, Hussein’s POV of the aftermath: you get arrested and hit with prices of theft, fraud, and cash laundering.
In any case, ethical of the story: if it feels sketchy, it most likely 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 few doable token launch and airdrop. Many see this as a method to sidestep US rules.
💸 Ripple’s CTO, David Schwartz, warned about doable “provide shortages” when their RLUSD stablecoin launches. He additionally stated: “Please do not FOMO right into a stablecoin! This isn’t a chance to get wealthy.”
🤑 Donald Trump’s DeFi mission, World Liberty Monetary, went on a $45M token buying 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 tip 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 information accessible for coaching, so we should now work with what’s already on the market.
🍌 Juicy memes
