Planting a timestamped flag here in the internet saying that I think the #FTX bankruptcy is going to end up triggering crypto nuclear winter and then grow into an extinction level event.

we barely saw the explosions's.
the shockwave is still on its way.

then, tsunami 🌊🌊🌊🌊
as if crypto wasn't looking grim enough, here comes an Italian investigative journalist talking about scandals rocking "the whole ecosystem".

Ask yourself: which big names in crypto are from Italy?

(ps typo is driving me nuts but I can't move the flag.)
I can't find the source now but that giant sucking you hear is a slowly rising tsunami of already over $1B per day of crypto being sucked off the exchanges and back into fiat or into self custody.

the exchanges won't be able to deal w/this. something is going to snap soon.
Checking my original prophecies from #TheOracleOfTulips written back in June... says right here that I predicted that the final face of The #Cryptocalypse would be once:

☑️ whales stabbing each other in the back
☑️ it triggers a market panic

cryptadamus.substack.com/p/the-revelati… Image

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More from @Cryptadamist

Nov 9
1/Ω
🤔
"as least as informed as the press" level speculation on #Alameda / #FTX based on some numbers that imply some things

FTX folded quickly. could only process < $1B digit billions before running out of coins. Sure there are other wallets... ImageImage
2/Ω: FTX IS NOT SUPPOSED TO BE ABLE TO RUN OUT OF CASH (or tokens).

it's an EXCHANGE not a hedge fund. should have everyone's cash ready to be picked up at any given time in neat little separate piles.

THUS: AT A MINIMUM we know that #SBF commingled funds (maybe illegally)
2.5/Ω: SBF IS SMART. ALSO WORKED AS A PRO TRADER AT ONE OF THE TRADING DESKS THOUGHT TO BE "really smart money" (#JaneStreet).
SBF: 2 MIT degrees (hard to get in a way most people cannot comprehend). SBF has taken exams for trading licenses. Fully 0% chance he doesn't know this
Read 56 tweets
Sep 14
🧵
Last week I wrote a piece about how opening the wrong PDF led to a #cybersecurity breach that rapidly escalated

Since then I've figured out how the PDF managed to evade all major virus/malware detection tools and exploit a vulnerability (that may still exist!)

Let's dig in👇
As mentioned in the piece I had suspicions about the PDF because it had come from the vicinity of #cryptocurrency criminals, so before opening I ran it through a bunch of reputable malware detection tools.
They all gave it the all clear... and they still do. Here's a link to the @virustotal report showing 0 out of 61 malware scanners alerted on this PDF.

#VirusTotal is Google's #cybersecurity offering so it's not surprising Gmail also gave it the all clear.
virustotal.com/gui/file/61d47… Image
Read 37 tweets
Jul 7
Folks, here it is, an easier to read explanation of how #Tether and #JustinSun setup a scammy blockchain to inject $40B in fake $USD into the cryptocurrency economy. It's still not the best I could write - it's a first draft - but it'll do for now.

cryptadamus.substack.com/p/the-tetherer…
suddenly all these sock puppets comin' at me... must be right over the target.
@tavit_ makes an amazingly good point. some of the redemptions maybe ARE real. but that $1B one from AEX / Hoo is obviously not real. and a bunch of the others are also not real.
Read 9 tweets
Jul 7
🧵🚨🚨🚨🚨🚨
Does anyone think it's a coincidence that #AEX, first exchange to close withdrawal, tweeted about a $1B bank run THE SAME DAY that #Tether burned EXACTLY $1B?

WTF is a mid sized exchange doing keeping $1B around?
Unless it's... not real...
The period when #Tether was burning off huge $USDT amounts / day no one knew why. We thought redemptions. The biggest of all was the $1B. Which is AEX/Hoo.

Maybe: burns are #Tether taking back unbacked tethers. Maybe to mostly Chinese CEX. Maybe bc bonds failed

Huobi, KuCoin...
Read 18 tweets
Jul 1
🚨🚨🚨@investvoyager joins @Hoo_exchange, @Aexglobal, @CoinSwitchKuber, and others in #TheClosening,

there is officially no more money (or $BTC) left to give back to unsecured creditors (they call themselves "depositors")

1st major exchange in North American market to do so.
@investvoyager has fallen.
#TheClosening claims another victim.
Apparently the intervention of God Emperor #SBF was only able to keep @investvoyager out of the jaws of #TheClosening for 9 days. May the #Voyager monster at last find peace in the void, inshallah.

historical 🧵 from last week's events:
Read 12 tweets
Jun 30
#linegoup... lol. $BTC. Image
reverse bart? someone just trying to liquidate the shorts? who knows. i def. was expecting to see another attempt back at $20K... doubtful this will be the last.
someone did this trade at like exactly 7:59PM EST... is there someone who is trying desperately to avoid some kind of contractual situation shoe conditions are checked every day at 8PM? cc @crasl7
Read 6 tweets

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