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⚯ M Cryptadamus ⚯ | @cryptadamist@universeodon.com Profile picture
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Jan 4 • 12 tweets • 11 min read
🧵/Ω
It's been almost a month since our last episode of The More Than Seven Seals of #TheCryptocalypse listed way more than 7 really bad omens for the cryptocurrency "industry."

Well things have gotten a lot worse since then. #TheOracleOfTulips has more to reveal.

Ω👇Ω
🧵1/Ω
The contents of The Book of Fraudits were revealed by the prophet #Mazars in the form of number-free "attestations" about the financial state of #CryptoCom, #Binance, and #KuCoin.

Note that the #KuCoin attestation has never been seen by mortal eyes.
🧵2/Ω
#Mazars LLP, one of the two quasi-legitimate accounting firms still auditing cryptocurrency exchanges not named @Coinbase or @Kraken, announced they would no longer audit crypto firms not named Coinbase or Kraken.
🧵3/Ω
The Harrowing of the Bros: Crypto bros are rising from the dead.

Wallets linked to both #GeraldCotten of #QuadrigaCX and #HalFinney, long suspected IRL guy behind #Satoshi, sprang back into chain-life.
🧵4/Ω
🐋 The War of the Whales🐋

The Parting Of The Stablecoin Waters kicked off the great east vs. west divide as #Huobi, #KuCoin, #ByBit, etc. shifted to exclusively $USDT and #CryptoCom went 100% $USDC.
🧵5/Ω
🐋 The War of the Whales🐋

Paolo Ardoino from #Tether and #CZ, ruler of the empire of #Binance, started talking shit about @Kris Marszalek CEO of #Cryptocom in public. #PaoloToldMe
🧵6/Ω
🐋 The War of the Whales🐋

Bro has set upon bro: Cameron Winklevoss went after Barry Silbert of DCG with a highly accusatory open letter asking where #Gemini customers' $900M went.

Silbert responded by making shit up. It escalated from there.
🧵7/Ω
🐋 The War of the Whales🐋

Revenge of the chain: crypto bros who have their own chains like #BSC/#BinanceSmartChain and @Solana started throwing each other off of those private chains. #Cryptocom got tossed of #BSC and #OKX off #Solana.
🧵8/Ω

#EvaKaili, the most pro-cryptocurrency left-wing VP of the #EuropeanParliament, was arrested with suitcases full of cash.

Kaili allegedly accepted bribes Qataris in exchange for telling all the Europeans that the Qataris were the nicest slave drivers she’d ever met.
🧵9/Ω

VC and private equity funding for cryptocurrency businesses took a huge nose dive.
🧵10/Ω

Avraham Eisenberg, the @mangomarkets trader, was arrested for behavior widely understood to be nothing more than a “highly profitable trading strategy”.
🧵11/Ω

There's more ominous portents but you're gonna have to read about them over on Substack.
cryptadamus.substack.com/p/the-by-now-a…

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More from @Cryptadamist

⚯ M Cryptadamus ⚯ | @cryptadamist@universeodon.com Profile picture
Jan 5
#Huobi seems to be melting down in real time, possibly along with His Excellency #JustinSun's fortune...

Shut down all intra-employee IMs etc, maybe fired a bunch of people. Employees now angry (or Sun is ruggin') @HuobiGlobal @justinsuntron
ImageImageImage
@HuobiGlobal @justinsuntron Apparently #JustinSun tried to dissolve the company (which would presumably leave all the employees unemployed).

Remember just yesterday it was reported that #JustinSun had tried to pay #Huobi employees in $USDT and/or $USDC... #Tether (h/t @crasl7 for non machine translation) Image
Random Twitter user sharing rumors that there are concerns this will spread to #TRON and its companies from Pulse (which @crasl7 looked into and called "Chinese language LinkedIn") Image
Read 27 tweets
⚯ M Cryptadamus ⚯ | @cryptadamist@universeodon.com Profile picture
Jan 5
🚨 in layman's terms:

when a fund like #A16Z says it "raised" $5bn what's happened is a bunch of liquidity partners ("LPs") have promised to send cash as A16Z finds places to invest it (when A16Z "calls"). Penalties for not meeting calls are *harsh*. -30%+ or more

this is bad.
what's really bad here isn't that some LPs are going to lose 30-50% of their committed capital (which is so far a v. small % of $5bn).

what's bad: LPs don't mind losing 30-50%

what's worse: LPs are using insider trading allegations as leverage to escape their contracts
and what's worst of all: VC funds at this point are the last large pools of capital left that could bail out the cryptocurrency economy. they seem to be evaporating, as I predicted would happen (for exactly this reason, and exactly this way) back in June/July.
Read 6 tweets
⚯ M Cryptadamus ⚯ | @cryptadamist@universeodon.com Profile picture
Jan 5
Apparently 4 months ago #DCG and #Grayscale / $GBTC were suddenly "actively searching" for a Security Architect specifically for "cloud security standards" and "risk assessment"...

curiously tagged with #CISSP (computer security designer) and not, for instance, #compliance.

🚩 Image
👆 maybe I'm projecting but that looks to me like the job listing I might post at the moment I was scrambling to recover from a security breach #DCG #Grayscale $GBTC
Here's some reasons about the wording used, the timing, and a couple other things made me at least raise my eyebrows: reddit.com/r/AskNetsec/co…
Read 6 tweets
⚯ M Cryptadamus ⚯ | @cryptadamist@universeodon.com Profile picture
Dec 23, 2022
🧵1/Ω
So RiotBlockchain:

➽ is apparently paying > $40,000 per $BTC
➽ turned off their brand new facility for "cold weather" (wtf? cold cools!)
➽ says it's for "safety of team" (wtf? its #bitcoinmining. $RIOT can't administer it remotely?)

Something smells.
🧵2/Ω
The price of energy in Texas as reported by ERCOT is rising.

Texas taxpayers have, in their ∞ wisdom¹, decided to pay $RIOT a bunch of money to turn off during times of peak demand.

But this shutoff was for "safety"

¹ read as "stupidity"
energyonline.com/Data/GenericDa…
🧵3/Ω
@WSJ article 2 weeks ago put the #SEC etc. filings of 22 publicly traded cryptocurrency companies through an AI tool that checks for anomalies. The vast majority were flagged as suspicious.

But $RIOT stood out most of all.
wsj.com/articles/accou…
Read 9 tweets
⚯ M Cryptadamus ⚯ | @cryptadamist@universeodon.com Profile picture
Dec 22, 2022
🧵1/Ω
Dear @AllysiaFinley of @WSJ / @WSJOpinion:

You wrote back to back columns. One of them is about the SEC failing to regulate #FTX.
Other one calls @SenToomey "a free-market champ." Toomey was also a champ of SEC deregulating "non-banks" like #FTXScam.
🧵2/Ω
Also nowhere in your attempt to shill as hard as possible for the crypto industry by shifting blame onto @GaryGensler and the SEC is it mentioned that the shameful #Blockchain8 wrote a letter to #SEC urging them to stop investigating the #FTXScam.
🧵3/Ω
It's also not mentioned that Americans were not allowed to trade on #FTX. This seems kind of important.

And yes I know there is #FTXUS but it was a much smaller deal.
Read 6 tweets
⚯ M Cryptadamus ⚯ | @cryptadamist@universeodon.com Profile picture
Dec 5, 2022
🧵1/Ω.
🚨 #OKEX exchange seems to be in trouble. Given the massive outflow of crypto from all exchanges I suspect they are running low on customer reserves.

First I saw this tweet by @hellspawncrypto.
🧵2/Ω.
@hellspawncrypto is an extremely active and experienced trader. assuming he is not a criminal ("¯\_(ツ)_/¯") he would be aware of what kinds of activity trigger alerts / holds and avoid those kinds of activity. #OKEX
🧵3/Ω.
So then I checked the #OKEX tag. What I found was a fast moving stream of X-rated content and sketchy links.
Read 12 tweets

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