FTX Ethereum – $250 Million being DUMPED! Crypto NIGHTMARE!

FTX Ethereum - $250 Million being DUMPED! Crypto NIGHTMARE!

Cryptocurrencies nightmare scenario is playing 
out in real time just woke up to the FTX hacker   Dumping ethereum but wait didn't Reuters report 
that the hack was actually the Bahamas SEC are   The Bahamian Regulators dumping the ethereum or is 
there confusion on who the hell the hacker is more   Information the FTX hacker is now actively dumping 
eth on chain he has dumped about 15 million eth   In the past 30 minutes and just prepped a fresh 
batch of 12 million worth of ethereum still has   270 Million worth of eth in his main wallet he's 
selling ethereum to wrapped Bitcoin to run Bitcoin   Through aggregators like one inch you can see the 
impact of the FTX hacker dumping eth in real time   Unfortunately this is a massive amount of eth and 
he is just getting started still 200 000 eth in   His main wallet as some pointed out Ren Bitcoin 
has limited liquidity but people are arbing it   This lets the hacker sell more eth basic basically 
this is a nightmare scenario playing out in real   Time the FTX hacker is now steadily dumping eth 
on chain he just loaded up another full clip of 25   000 ethereum and has another 200 000 ethereum 
remaining in his main wallet 270 million incoming   Spot eat cell pressure there's a lot of unanswered 
questions here we need to dig deeper FTX exploiter   Converts millions in ethereum to Alameda linked 
Ren Bitcoin tokens whoever was behind the 600   Million exploits of crypto exchange FTX started 
exchanging millions of dollars worth of ether to   Run Bitcoin a token that represents Bitcoin on 
other blockchains early on Sunday funds stolen   From FTX were steadily converted to ethereum 
over the past week making the exploiter one of   The largest holders of ethereum this is where 
it gets interesting the use of varen Bitcoin   May surprise some in the cryptocurrency space in 
2021 Alameda research the Sam bankman freed owned   Trading arm at the center of the multi-billion 
dollar Scandal said wren's development team was   Joining Alameda and would work on expanding Ren's 
usage to several blockchains so with the ren   Alameda link it seems more clear that it is Sam 
bankman freed or somebody over at FTX who did do   The hacking and is presumably now selling the eth 
there is still question does this have anything   To do with the Bahamas government did they order 
this doesn't seem like it make sure you subscribe   To our Channel new information on FTX Alameda new 
information on this comes out every single day we   Continue to keep you informed WE Post daily videos 
covering everything going on in the cryptocurrency   Markets subscribers of our channel are smarter 
more well-informed investors than the average   Cryptocurrency participant problem number two 
grayscale one of the largest holders of Bitcoin   One of the most trusted ways for institutions and 
accredited investors to get exposure to bitcoin   Just by being able to buy a ticker like I said 
grayscale is one of the most well established in   The space now the bad news greyscale won't share 
proof of reserves citing security concerns crypto   Investment firm grayscale won't show proof of 
reserves after Bitcoin and ether products fall to   New all-time lows quote due to security concerns 
we do not make such unchain Wallet information   And Confirmation information publicly available 
through a cryptographic proof of Reserve or other  

Advanced cryptographic accounting procedures 
grayscale said this on Twitter Friday afternoon   The Firm went on and acknowledged its decision 
to keep its Reserve information private would be   A disappointment to some investors crypto firms 
are being pressed to show more information about   The reserves after crypto Behemoth FTX filed 
for bankruptcy protection earlier this month   Quote from grayscale but Panic sparked by others 
is not a good enough reason to circumvent complex   Security Arrangements that have kept our investors 
assets safe for years grayscale Bitcoin trust   Hit a record low on Thursday as did its ethereum 
product the firm's parent company digital currency   Group has brushed off contagion fears after the 
shocking collapse of FTX at the same time however   Another entity affiliated with grayscale recently 
halted withdrawals of course we're talking about   Genesis Global Capital which was a big hit to the 
crypto space think about it like this grayscale   Owns 3.3 percent of bitcoin's entire market cap 
Luna who before their collapse was buying a lot of   Bitcoin owned only 80 000 Bitcoin while grayscale 
owns 640 000 Bitcoin if grayscale is forced to   Sell their 640 000 Bitcoin the price is expected 
to drop by 46 percent which would send us to 8 900   Per Bitcoin just want to show you how unlikely 
10K is it's actually kind of embarrassing the   Grayscale isn't participating in proof of reserves 
if they can't secure their on-chain assets after   Revealing addresses they aren't qualified to hold 
institutional money we should reject this lack of   Transparency send it lower another way to think 
about it of course is that grayscale's assets   Are custody at coinbase coinbase and grayscale 
trusts are both audited Barry silbert the CEO of   Grayscale would go to prison for fraud along with 
the board if they were playing with the underlying   Assets so probably nothing to worry about but 
just something to think about and for sure they   Should be participating in proof of reserves I 
think real quick guys we will be attending and   Speaking at decentral Miami at the end of this 
month get your tickets for this if you haven't   Already if you'll be in Miami also next year we 
will be attending the Bitcoin conference use our   Code altcoin daily for 10 off get tickets to this 
sooner rather than later they're way cheaper now   This is the biggest Bitcoin conference in the 
world you don't want to miss this and finally   If you have yet to vote for us for the web 3 
influencer Awards we have been nominated for a few   Different categories make sure you visit the links 
in the description and vote for us I'd really   Appreciate it now back to the news problem number 
three Joe Biden the president of the United States   Is leading a critical call for game changing 
Global Bitcoin and crypto regulation After Shock   FTX collapse calls for stricter regulatory 
control have grown to a cacophony over the   Last week as the amount of money thought to have 
been lost by FTX and its sister company Alameda   Research reaches eye-popping levels and threatens 
to engulf The Wider crypto market now following   The latest Gathering of the G20 in Indonesia 
the leaders of the attending countries called   The need for international rules to govern the 
fast-growing Bitcoin in crypto space critical and  

Said potential risks to financial stability needed 
to be mitigated so nothing official yet but the   World leaders are getting together saying hey we 
might need to regulate this Bitcoin crypto thing   Even harder more to come in the future make sure 
you subscribe to our Channel let's keep things   Real my friends because it's not all bad and 
actually what we've been seeing with the FTX apps   In Celsius and three era capital and everything 
that's been going on over the past few months is   Actually signs which you would see near the bottom 
of a cycle and there's plenty of reason to think   That the bottom of the cycle is going to happen 
soon it's possible it's already happened either   Way very close to the bottom and there's reason 
to be bullish going forward and of course when   You want to really get involved in cryptocurrency 
of course is near the bottom when there's blood   In the streets fear in the air let me give you 
some reasons to be bullish the next having is   Projected to occur April 2024 the Bitcoin having 
the mining reward will decrease from right now   It's 6.25 Bitcoin per block to 3.125 bitcoin per 
block now Efficient Market Theory would hold that   If we all know it's going to happen then it's got 
to be priced in paraphrasing a line attributed   To Warren Buffett on that Dogma the markets are 
almost always efficient but the difference between   Almost and always is 80 billion to me thus even 
if we think everybody knows something it doesn't   Mean there isn't a ton of money to be made over 
the years we have stressed that the having is a   Big event but it takes years to play out the 
typical trough is 1.3 years before the having   And on average the market Peaks 1.3 years after 
the having the whole process has taken 2.6 years   To see the full impact if history were to repeat 
heat itself the price of Bitcoin would trough at   The turn of the year coming up we would then see 
a rally into early 2024 and then a strong rally   After the actual having obviously make your 
own decisions do your own research however   My conclusion the Bitcoin bottom should be very 
close in 2015 Bitcoin bottomed 26 months after   The previous having in 2018 Bitcoin bottomed 29 
months after the previous having in 2022 Bitcoin   Is already 30 months after the previous having the 
Bitcoin bottom should be very close and finally if   I had to show somebody four charts to explain 
why Bitcoin is fine chart number one and chart   Number two long-term holders are doubling down 
despite being the most underwater they've ever   Been long-term holder Supply is at all-time highs 
chart number three blocks continue to be added   Meaning that Bitcoin continues to work just fine 
like it always has and as it continues to work   Just fine it actually gets stronger chart number 
four active addresses making higher lows surely   A bullish metric so with Bitcoin being at about 
16 493 dollars today with 10K Bitcoin being the   Number everybody's eyeing you tell me where do 
you think Bitcoin will bottom or do you think   This is the bottom my friends subscribe to the 
channel join our team we post one video every   Single day in the cryptocurrency market like 
the video if you got value see you tomorrow

Leave a Reply

Your email address will not be published. Required fields are marked *