Back again with another thread, on #CDC this time!

Crypto.com's cold wallet - $230m in literal #SHITCOINS #SHIB, $70m in #DOGE, some tether, the rest is also shit I've mostly never heard of. But hey, they will be fine.

etherscan.io/tokenholdings?…
I bet they have done the FTX, borrowed $$$$ against those shitcoins. And now liquidations will be cascading.

I am also curious the extend to which they have borrowed agains CRO. Wait till that starts to dip.
They got 70 mln bag holders and they will dump at some point. How much can they buy back with clients' #SHIB. 😀
Would mean a lot to hear your opinion on this, @Vince_Stanzione

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More from @_wondertasty_

Nov 11
#Crypto.com? How to fake your Proof of Reserves Season 1.

(1) Let’s dive in:

#Crypto.com's cold wallet – $600М in #SHIB, some #tether, the rest is shit. Shit noone’s ever heard of. That tells us close to nothing.

portfolio.nansen.ai/dashboard/cryp…
(2) “So in a few weeks you think you will have 1:1 reserve to liabilities!” This means you cannot confirm it now, which is generally your job. Not confirming that you have more assets than liabilities makes me consider that you just don’t!

(3) Crypto Dot Kaboom, you call that Proof of Reserves? But hey, they say they will be fine. 😎

Proof of Reserves means you show both sides of the book: assets + liabilities. You showed us all only your assets, and they are not a pretty picture for a stadium-owning company.
Read 13 tweets

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