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Mike Alfred Profile picture
Mike Alfred
@mikealfred
Engaged value investor and board director. Recovering tech entrepreneur. Ultramarathon runner with four 100 mile finishes.
Jul 14, 2025 • 4 tweets • 1 min read
You can smell the FEAR right now. It's palpable and stinks to high heaven. In almost a decade of following Bitcoin, I have never seen the shorts this TERRIFIED. They are scrambling around throwing everything they can at BTC between $119,500 and 119,950 but it's futile. Valhalla!! You can see clearly that BTC already tapped $120,000 but the shorts have stacked a huge sell wall there trying to stem their losses. But they are wounded and dripping blood. They will be hunted in to extinction. Next stop: $146,000. Mark it.
Mar 12, 2023 • 7 tweets • 2 min read
BREAKING: The FDIC is already on site at First Republic Bank trying to determine the best path forward to protect depositors. Things are moving way faster than expected given the accelerating bank run that has already reached a tipping point. Confirmed just now that First Republic started throttling outbound wires today.
Mar 11, 2023 • 9 tweets • 1 min read
USDC has lost the peg, most likely in response to the revelation that Circle has more than $3B of cash reserves tied up at Silicon Valley Bank. If there is a weekend bailout for SVB, it should revert. Currently trading at 95 cents. 👀
Mar 10, 2023 • 8 tweets • 1 min read
Really nice squeeze on $FRC and $SBNY the last 20 minutes or so. Shorting in to it. This didn't take long to work big. Must be a bear market.
Dec 22, 2022 • 5 tweets • 1 min read
Just got off the phone with a fund manager closely connected to one of the earliest investors in Binance. He said a few interesting things:

1. He confirmed that Binance has no CFO. CZ doesn't want a single centralized CFO. Binance has 20+ employees in its Treasury and they... serve as a "decentralized CFO" according to the company.

2. Binance is an active discussions with potential new "Keystone" investors, including Warren Buffett's Berkshire Hathaway, about an equity round that would provide support and credibility to the company.
Dec 20, 2022 • 4 tweets • 1 min read
Binance's "Commitment to Transparency" includes actively hiding 70M of their 108M+ in BNB holdings from the public by omitting them from their reserve reporting and even modifying and hiding transactions on BSC.

The irony here is absolutely incredible. Top shelf stuff. SOURCE
Dec 15, 2022 • 6 tweets • 2 min read
CZ's private chats with SBF indicate that he has a very real concern about the de-pegging of Tether. When they were still buddies, CZ tried to convince SBF not to short Tether. Unfortunately, he won't be able to stop Fir Tree and other traditional hedge funds from doing it. The mere existence of something called "Exchange Coordination" gives me the shivers. But it's real and many people have viewed the chats now.

Tether knows they're being hunted and CZ knows Binance is also vulnerable if Tether goes down.
wsj.com/articles/rival…
Dec 12, 2022 • 5 tweets • 1 min read
Tesla is breaking down hard towards its 52 week low at $168 on its way to $50. The jig is up. Investors are demanding more reasonable valuations for overvalued "innovation" companies. The era of free money is over and rationality is returning. The S&P is up over 1% today. The dispersion today is a HUGE tell. Tesla preparing for a major dump. Batten down the hatches. The storm is coming.
Dec 11, 2022 • 6 tweets • 2 min read
Binance didn’t meet its 1:1 ratio of reserves to customer assets. In U.S. dollar terms, based on bitcoin’s price at the time, the liabilities would have been about $9.68 billion, while the assets would have been $9.43 billion, or about $245 million smaller
wsj.com/articles/binan… The letter wasn’t an audit report, didn’t address the effectiveness of the company’s internal financial-reporting controls, and said Mazars did “not express an opinion or an assurance conclusion,” meaning it wasn’t vouching for the numbers.
Dec 9, 2022 • 4 tweets • 1 min read
The real reason Binance, Tether, and Crypto .com have never completed a routine financial audit is that no reputable auditor can sign off on the veritable symphony of related party transactions, non-existent internal controls and corporate governance, money laundering, and fraud. All excuses and half-hearted attempts to rectify aside, there is ZERO excuse to not complete a financial audit when you custody tens of billions of dollars of assets on behalf of millions of customers.

This speaks to an endemic culture of deception and unaccountability.
Jul 29, 2021 • 4 tweets • 1 min read
You haven't truly died until you've sat in a few hours of Los Angeles traffic Why does anyone willingly choose to live here?