🧵1/Ω

The Seven¹ Seals of #TheCryptocalypse
The signs are all around us. Read on below.

Have doubts? At least make sure you know what's actually happening out there.

RT/QT for great justice.
🂇 🂁 🔜 🁡 🁡 🁡

¹ maybe more than 7

📜👇Ω👇📜
cryptadamus.substack.com/p/the-seven-se…
🧵2/Ω

I. @GenesisTrading, by far the biggest portal between Wall St. money and the crypto verse and the biggest trading desk handling the off market trading of very large amounts of money for very large amounts of crypto, is going to declare bankruptcy on Monday at 10 A.M. Image
🧵3/Ω

II. Prosecutors at the Southern District of New York Will Indict Sam Bankman-Fried Very Soon Image
🧵4/Ω

III. @Gemini, a regulated on-shore American crypto exchange considered “safe”, froze some of its users’ assets. Image
🧵5/Ω

IV. #Silvergate, one of the biggest crypto friendly banks by assets under management, is about to implode.

$SI #SilvergateBank #CryptoBank Image
🧵6/Ω

V. #Cryptocom, AKA “The Other Cryptocurrency Company Besides FTX With An Eponymous Football Stadium In A Major American City”, is experiencing a run on the bank that it will probably not survive. #Cryptodotcom Image
🧵7/Ω

VI. Now Even #Binance, Theoretically Backed By Almost $70 Billion (700,000 houses) of Capital, Is Headed For A #BankRun Image
🧵8/Ω

VII. Major Crypto Institutions Will Stop Lending To Each Other (If They Have Not Already). Both #CeFi and #DeFi will be affected Image
🧵9/Ω

VIII. Ontario Teacher’s Pension Fund #OTPP reported to have lost $95 million (950 houses) of retirees’ money in the #FTX debacle

#FTXScam #SBF_FTX Image
🧵9,5/Ω

#BlockFi is dead, long live #BlockFi!

The only #CeFi left is #Nexo. Good luck with that. Image
🧵10/Ω Image
🧵11/Ω

X. #SBF was the second biggest #Democratic donor in the country. #MitchMcConnell accepted $2.5 million (25 houses) in campaign contributions from #FTX’s #RyanSalame. Other Repubs took another $22.5 million. #Bipartisanship at its finest.

#FTXScam Image
🧵12/Ω

#ElSalvador is headed towards default on its sovereign debt in January 2023.

But who is gonna bet against #TheWorldsCoolestDictator, @nayibbukele? Image
🧵13/Ω

XII. A Message For Those Who Say “Nobody Could Have Known!” When Asked Why They Sold Their Souls to Psychopaths at a Discount Rate:

You ain't gang.

🧵14/Ω

#TheCryptocalypse is at our doorsteps...

Read the whole thing (there's even more gory details) at Substack and strap yourself in for an historic event in the next couple months...

#OrMaybeMonday

cryptadamus.substack.com/p/the-seven-se…

• • •

Missing some Tweet in this thread? You can try to force a refresh
 

Keep Current with ⚯ Michel de Cryptadamus ⚯

⚯ Michel de Cryptadamus ⚯ Profile picture

Stay in touch and get notified when new unrolls are available from this author!

Read all threads

This Thread may be Removed Anytime!

PDF

Twitter may remove this content at anytime! Save it as PDF for later use!

Try unrolling a thread yourself!

how to unroll video
  1. Follow @ThreadReaderApp to mention us!

  2. From a Twitter thread mention us with a keyword "unroll"
@threadreaderapp unroll

Practice here first or read more on our help page!

More from @Cryptadamist

Nov 10
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.
Read 4 tweets
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

Did Thread Reader help you today?

Support us! We are indie developers!


This site is made by just two indie developers on a laptop doing marketing, support and development! Read more about the story.

Become a Premium Member ($3/month or $30/year) and get exclusive features!

Become Premium

Don't want to be a Premium member but still want to support us?

Make a small donation by buying us coffee ($5) or help with server cost ($10)

Donate via Paypal

Or Donate anonymously using crypto!

Ethereum

0xfe58350B80634f60Fa6Dc149a72b4DFbc17D341E copy

Bitcoin

3ATGMxNzCUFzxpMCHL5sWSt4DVtS8UqXpi copy

Thank you for your support!

Follow Us on Twitter!

:(