FT crypto watch Sept 6!!!

Crypto people, we love you!!  Thanking  the universe for meeting y'all here!!!  As we hitch our wagon to a star, the Alpha Centauri that is the bright and burning star of the Publish0x.    Love for distributed intelligence!! 

And love for crypto in the pink lady!!  It's Tuesday, so crypto is back in center stage on the front page: and lookit that lovely ETH.  Sitting between commodities and currencies just like it should be.  TBF that jump up in Brent Crude looks pretty sweet as well!! 

Crypto stories that don't mention crypto:

Turkey's OFFICIAL inflation rate hit 80%.  Which has to make BTC price action look a lot better. Turkey's prime rate is 13%, so real costs of borrowing are NEGATIVE 67%, lol.  They think it will all work out, let's see!!

British Gas just started borrowing extra billions of dollars!!  As rates are about to crank up.

The new PM Liz needs a fast startWiley Coyote running on air fast, good luck to her.  The pound is heading for parity with the dollar!!!!  The BoE is calling for a recession.  Meanwhile, more games about inflation.  Look if we print money to "cap" energy costs, then inflation goes down!! NO IT #@(*&#(*&$!!!! DOESN'T.  IT GOES UP.  The MEASURE of inflation WOULD of course go down under that manipulation, but who cares!!???  We guess the gummint paying all those inflation tracking bills cares, and needs a way to screw THOSE people.

Tradfi corruption watch funnies!Instagram $400 million for harvesting kid's datahold mah beer and gets sued in Hong Kong  for 800 million a HK biotech group steal 400 million. 

Overreaching gummint watch!! Brussels demands "sweeping" new powers to be able to force businesses to stockpile inventory and break delivery contracts cuz supply chain support.  Biz players say WTF, break the rule of contract law, forced disclosure of all info, centrally dictating production, what could go wrong other than the inevitable crash of every player that ever does that ever.

The IMF says the EU must put up ANOTHER 800 billion just like for (supposed to be one-off) Covid, but for a permanent fund to manage countries going down, and pay for ESG.  Print another trillion, what could go wrong?  

CRYPTO THAT SAYS CRYPTO IN THE FT!  The Big Read makes dead trees!! We stand by our multiple FU review from yesterday.  A couple of funnies - first, the department made the BTC pic MUCH uglier and more scary.  They even took the pretty colors out of the whale graph to make it monochromatic scary, which is funny cuz they left the graph colors IN on the ominous redo of the  BTC backdrop.  Next, we notice all the positive news (Milo and FTX crypto mortages)  is hidden in the very last column. 

Thankfully,  there is no link to a four year old story about Binance.  But there is the repeat of the current absolute LIE: "In June, prices fell...causing the largest cryptocurrency exchange BINANCE to halt bitcoin withdrawals for several hours."   

FU FT.   a bold faced lie!!  The truth is, Binance cheaped out on BTC gas fees, and stuck a couple transactions.  They fixed it, life went on. 

, FU, FT, this happened on Jun 13th, when the price of BTC was around $27K.   If the fall of BTC CAUSED the delay, then why has it all been good since then as BTC hammers on down to under 20K? Secondly, FU FT.  is not just a meme on the rise, it an actual pair of wallets with nearly a HALF BILLION DOLLARS of crypto sitting in them, should Binance ever need them to fix a client funding effup.  Link below, you can see the funds yourself.   Hundreds of millions, good to GO.  WHAT a nasty dig, your bias is showing FT. 

Like it always does.  Here's the last shot fired on crypto in print today:  : DBS, Sing's biggest bank ( a half trillion in assets) is going crypto. MAS gave DBS a license for crypto exchange. 

rypto downturn, 3AC, Terraform labs.   Questions over MAS's decision!! Guardrails would be better. 

Volume on DBS's (wealthy only)  exchange is rising fast. Buried in the tail of the story, over a billion dollars this year left DBS to go to crypto exchanges like

story:  Keyboards once had a .com key, so ya didn't have to type out .com over and over.  The FT must have a key that inserts "despite the crypto crash!!!"  Now updated to "crypto bear market."  Also command F12 autosubmits copy into the weekly FT contest for denigrating crypto.  

real funny is buried, money was RUNNING out the door to crypto, had to do something.  Guardrails, whatever they may be, are becoming funny doublespeak, seems like just another regular exchange to us. 

This is a very positive story for crypto, it's funny to watch the FT try and spin it otherwise.

That's it for print!  Online, slim pickings.  No new crypto for days.  In desperation, we look at the FT podcast about Liz, supposed to be some crypto in there.  Happy happy joy joy, there is a transcript!  Hey, we ADD folks might be protected now, it says here contact them if the accessibility thing ain't working, we really want to !! But think that's for deaf people.  Please stick with giving more transcripts!  You are a PAPER!! 

The Liz podcast veers into plugs for the crypto podcast.  Now that we have pled for transcripts, let's unpack.

The FT says things like "what the hell are people in crypto land taking" when confronted with love for crypto despite getting reckt. 

There's another plug for Molly's web3 is going great, listing Molly as a software engineer. 

contradictionscompletely laughable that a16z is gonna disrupt themselves.   It's completely disingenuousthat they want Web3 to give money to content creators. 

With a massive decline in religion, people want something to believe in. 

Dogecoin Jackson sez crypto is a cockroach that will survive nuclear winter!! 

The REAL story: Molly had crypto experience, her software career burned her out after six  short years, that would be EX software engineer now.  

We are in favor of laughable !! But the FT's biz school chops are weak, they are missing the point. Cannibalize your own market before someone else does.  This is the way. 

It is absolutely true that wants to make an effton of money by enabling systems to rise that give back money / power to the distributed people that provide content.  Why is it hard to understand that?? Yes, will own new infrastructure that makes money, yes, Web3 will give MORE money and power back to decentralized sources.  Those are conflicting thoughts. 

It is also true that religion is down and people want to believe in something.  Why not replacing known, clear abuses of fiat with at least a chance of betterment through collective adoption of crypto? Let alone the shining promise and possibilities of Web3.  Web3isgoinggreat is fun, but at the end of the day, it's all "the horseless carriage will never work, man was not meant to fly" Malthusian thinking.   100% negative all the time.

We agree that ,  like cockroaches and Kyle Roches,  will survive everything.   What's funny is that's a huge compliment, we don't think the FT sees it that way!!

Overall, the transcript was awesome, thanks FT!!   But we see clunky, repetitions, like "you know" twice in one sentence.  Given the ordinarily STUNNINGLY high quality of the English writing in the FT, this is jarring.  We usually have to look up a word or phrase or two, especially when reading , just saying, that ain't happening in this podcast. 

In a related / unrelated ending, the FT is all happy because the reghammer is getting swung against , which offers air bnb access to swimming pools.  We guess  the FT never went midnight pool-hopping in their youth, and they hope all those fun-seekers that will now be punished with lifeguardrails.  Or something. We gotta quit saying LOL so much, lol. 

Peace out,