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⚯ M Cryptadamus ⚯ | @cryptadamist@universeodon.com Profile picture
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Mar 15 β€’ 4 tweets β€’ 2 min read
#MilesGuo just set his apartment on fire apparently.
🧡 #MilesGuo newyorker.com/magazine/2022/…
🧡 #MilesGuo bloomberg.com/features/2023-…
🧡 #MilesGuo

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More from @Cryptadamist

⚯ M Cryptadamus ⚯ | @cryptadamist@universeodon.com Profile picture
Mar 16
🚨Ω🚨
Here it is folks.

The moment you've been waiting for.

The first time it comes out on the floor of the Congress that we just bailed out a bunch of Chinese tech millionaires with links to the PRC at American citizens' expense...

πŸ’₯πŸ’₯~ 1:33:40πŸ’₯πŸ’₯
It gets even better when @SecYellen says that there will be no bailouts for anyone who holds more than $250,000 in a rural bank in Oklahoma that collapses [due to the Fed raising rates so quickly].

Trust me when I say you're gonna hear a lot about this for the next forever.
Without even commenting on right vs. wrong, I can just tell you this is the 2024 campaign:

Dems: "YOU ROLLED BACK REGULATIONS!"
Repubs: "YOU BAILED OUT COMMUNIST CHINAMEN!"

ad infinitum.

Here are some very wise words from the very wise wizard Chanos πŸ‘‡
Read 6 tweets
⚯ M Cryptadamus ⚯ | @cryptadamist@universeodon.com Profile picture
Mar 16
🧡1/Ω
Let's talk about Metropolitan Community Bank (@MCBankNY, $MCB) one of the remaining publicly traded "crypto-friendly banks. Because the SEC filings look a lot like a mini-me version of our friend $SBNY.

Cash position down 90% YoY πŸ‘‡ Image
🧡2/Ω
$MCB has $2.2 billion - 42%! - in uninsured, non-interest bearing accounts.

In other words someone is willing to set $132 million a year on πŸ”₯ because of inflation just to hold money in $MCB.

Why?

(note that $SIVB and $SBNY also had large non-interest bearing accounts) Image
🧡3/Ω
$MCB also of course has large unrecognized losses due to the "duration mismatch" problem that rekt $SI and $SIVB ΒΉ.

ΒΉ though other things rekt $SIVB even more... Image
Read 10 tweets
⚯ M Cryptadamus ⚯ | @cryptadamist@universeodon.com Profile picture
Mar 14
1/🧡 $SBNY: truly the people's bank

They backed the most of NYC's worst landlords. And let me tell you it is an achievement to get on the worst landlord watchlist. These are landlords who are collecting rent while racking up hundreds or even thousands of violations. Image
2/🧡
They also were a big player in the NY taxi medallion racket by which enormous numbers of hard working immigrants who thought they had achieved financial freedom by taking out a mortgage to buy a tax medallion were ruined. Image
3/🧡
And now it looks like they may have been cooking the books the whole time.
Read 4 tweets
⚯ M Cryptadamus ⚯ | @cryptadamist@universeodon.com Profile picture
Mar 14
🚨Ω🚨
@YahooFinance has stopped updating the price of Bitcoin, which it was getting from #Binance owned #CoinMarketCap...

Yahoo: 1 BTC = $24,229
Coindesk: 1BTC = $25,963

(h/t @crypto1nfern0 go follow him) ImageImage
@YahooFinance @crypto1nfern0 πŸ‘†πŸ‘†πŸ‘† ImageImageImage
Here's a video showing Bitcoin is the only halted price on America's version of @YahooFinance.
Read 4 tweets
⚯ M Cryptadamus ⚯ | @cryptadamist@universeodon.com Profile picture
Mar 13
folks who still believe the noise about $SIVB just being duration mismatch: have you considered this?

get depositor money β†’
lend VC cash β†’
VC funds co. β†’
VC requires co. keep deposits at $SIVB β†’
voila! yr loan is now a deposit in yr bank

...which you can lend out again
look at the $SIVB balance sheet anon. here I'll make it easy for you:
🧡 When $60 billion in Ponzi scheme loans to tech bros & crypto crooks go bad (and we'll know how bad once the auction prices come out) who foots the bill anon?

Every American with a bank account will. Maybe not in taxes, but in bank charges. #VentureSocialism
Read 6 tweets
⚯ M Cryptadamus ⚯ | @cryptadamist@universeodon.com Profile picture
Mar 12
πŸ₯‡πŸ₯ˆπŸ₯‰
Re: $SBNY / #SignatureBank: Published this back in early December, which I believe was the first "FUD" about $SBNY...

and now I will take a victory lap. Image
Others important FUD on $SBNY is here (ctrl-F "Binancians" to find)

➀ @DataFinnovation (technically first though he was nicer)
➀ @MikeBurgersburg (killin' it)
➀ @ExkrementKoin (brought receipts)

Note not a single "mainstream" publication/analyst
cryptadamus.substack.com/p/are-cryptoco…
And big ups to @crypto1nfern0 who helped me gather all the information for the original FUD piece in December and much FUD since then. Couldn't have done it w/out you.
Read 10 tweets

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