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I think today was capitulation day in $BTC ETFs. Highest volume ever, feels fitting.
Unlikely crypto won’t need a considerable period of sideways (or as others say “time-based capitulation”), but generally speaking, we should be done with the worst UNLESS equities now cave in.
Small reminder: Iran’s regime does NOTHING for its people. The mullahs are murderous misanthropes who deserve to be wiped off the face of the earth. 20000 innocents killed THIS year in the name of an imaginary creature named god. They deserve no mercy.
One laptop should never be able to control $100m+…
[ DOOMER ]
MORE DETAILS EMERGE ON BINANCE HACK: DEVOPS ENGINEER HAD ROMANTIC RELATIONSHIP WITH NORTH KOREAN SPY, LEFT LAPTOP UNATTENDED THE DAY OF THE HACK: ZACHXBT
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I know we are all lauding Binance for their handling of the situation and rightly so. But I do want to spit in the soup a bit and note that:
- If one laptop enabled theft of $1bn+ that needs an Opsec update & deserves scrutiny
- Let’s hope they stay fair and don’t try to recoup all their losses by trading against users like after 10/10
- If this had been a larger share of their assets, the situation would have been very, very different
Finally, Thorchain deserves so much more sh1t for being the only (!) venue that keeps North Korea afloat. No one needs that sh1t.
DK retweeted
Largest equity deleveraging event in 10 years
Binance hacked for $6B
Gold single day 3.6% red candle
Oil back at $104
War escalation fears peaking again
What did I miss?
At times this would have been enough to go for a 30% correction
This is the chart
Uptober
october for @altitude was about going higher (m2m numbers below):
- payment volume up 54%, card spend 59%
- invoicing volume 100% (gg @tikhbana)
- AP and monthly active businesses 20%+
- card transactions 39%
real businesses are adopting stablecoins on solana like never before, DM me or @Dannygonzo22 (who’s crushing it) to get onboarded asap
DK retweeted
Quantum computing poses a serious threat to the cryptography blockchains currently rely on, while advances in AI compress best estimates for the threat's timeline.
That's why experts gathered in Cambridge to coordinate research upgrading our cryptography to be quantum-resistant.
DK retweeted
🚨 POLYMARKET WHALES ARE GOING ALL IN ON DEMOCRATS
Just 3 days left, and whales are going BIG on Democrats
>$629K from a BRAND NEW account created just days ago
>$2.4M on a DEMOCRATIC SWEEP from one whale
>$1.94M in positions across 4 accounts funded by ONE WALLET
Potential payout: OVER $5.6 MILLION
I really wanted this card. But money has no value anymore, so I had absolutely no chance.
But honestly: Bitcoin should be at $1m. That’s how little money is worth.
Btw if @realDonaldTrump actually wanted to do something about the @binance hack and similar ones, they should fully sanction @THORChain and do everything to close its liquidity down. Without $RUNE, North Korea has almost no ways to launder its hack proceeds. And Thorchain has zero other reasons to exist. Their volume is 75%+ North Korea. @cz_binance
FWIW, before you guys do it: there is NO analogy to FTX here.
Binance was hacked by a state actor and the hole is small enough for them to patch it from THEIR OWN FUNDS.
FTX & SBF gambled with CUSTOMER FUNDS on LEVERAGE and lost it.
Very counterintuitive with all the risks above, but the behavior here now makes me confident, ceteris paribus, the early Bull market thesis is fully intact.
DK retweeted
US spot ETH ETFs that stake have taken in $983M this year.
The ones that don't have lost $859M.
October has been rough for both:
Staking funds: -$123M
Everything else: -$1.33B
@iShares runs one of each. ETHB stakes and is up $852M since it launched in March. ETHA doesn't, and it's down $622M this year.
Data: @FarsideUK, through Oct 29
Now that the Binance hack is less noisy:
RIP Sir Patrick Stewart.
Inspiring actor I saw live on stage once. Truly a genius of his field. And easily the sexiest man I’ve seen over 80. You will be missed.
DK retweeted
Binance's initial investigation suggests that the security incident may involve a compromised DevOps engineer’s laptop, which allowed an attacker to gain access to a service container and submit unauthorized withdrawal transactions. We have found no evidence of any wallet private key leak. We will share a detailed technical post-mortem once the investigation is complete and the facts are fully verified.
The estimated total impact sits at around $6.3B. We have worked with blockchain partners to freeze affected assets, with ~$3 billion frozen on-chain so far.
Binance will cover all losses from the SAFU fund and the company’s funds. User funds are safe. We will also publish an updated Proof of Reserves once the remediation is complete.
As an immediate precaution, Binance has:
- temporarily suspended deposits and withdrawals while security checks are completed;
- revoked the affected address authorisation;
- engaged law enforcement and blockchain intelligence partners to trace and recover funds.
Our teams are working around the clock to resolve this issue safely and thoroughly. We are working closely with our law enforcement partners to confirm the identity of these criminals and bring them to justice.
Please rely only on official Binance channels for updates. Please feel free to contact Binance Customer Support if you have any further questions.
binance.com/en/support/annou…
DK retweeted
Made Bitcoin 100x harder to crack for a quantum attacker. Stupid simple: force it to solve 100 keys instead of one within 10 min block time.
No fork, no new opcodes, no direct-to-miner relay.
Multisig was designed to distribute trust, we reuse it to multiply the computational work required to forge a Bitcoin spend.
Runs on Bitcoin Core today.
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