Financial Times crypto June 24th - five stars! all intelligent, all positive!! Crypto is coming up in the world!

Fellow folks of the crypto revolution, we love you!  And we love the FT today, for actual thoughtful open hearted insights of the latest news!! Hooray!!! We love the puissant Publish0x even more of course, as the steamroller 0x Army approaches a half million users - more than 1% of which follow the OG PVM!

Dear readers know the FT seemed weak, cheesy & biased yesterday. 

An open letter:  Dear FT, y'all are the best newspaper left standing in the world.  We count on the FT to be the pinnacle of financial expertise, analysis, news, and even culture!!  Written in the clearest, most literate highbrow prose found these days.   We say this with love - y'all are turning off the next generation and letting yourselves & your motto  down HARD with the open hate (and feigned ignorance) of crypto.  Take a look at yourself - in your zeal/desperation to SMASH crypto yesterday, y'all stooped to elevate absolute bottom feeders in the crypto critic world to "most prominent" status.  Some unknown Canadian socialist in a 650th ranked uni says governance tokens don't work, and a failed Haskell blogger tweeting "crypto crushes puppies" and  "Biden could and should ban crypto in a day."  It's funny, cause we you snooty classists would invite those stinkers for tea, yet they befoul our paper.  C'mon, FT, you can/must do better, we need y'allAs Lex says, newspapers write the first draft of history!  Love, Dave.  Dateline - our lofty perch at the mighty mighty Publish0x!!!

No one even holds a candle to the FT's ass these days  The biased NYT holds a Pulitzer won on legally proven lies. Dear readers know the WSJ became USA Today post Murdoch,  in a fog of boredom killing competing viewpoints & real news, plus a meaningless new motto  ( "always on hand?" what??)   The FT has ~1.25 MM reach vs the WSJ's 3.5MM, but the FT costs 3x (plus USA vs Euro numbers) so the FT wins.   Help us save the world, FT, we are begging ya. 

Today is a new day, and all is forgiven!! In fact the FT steps waaaay back up there on Nelson's column with today's crypto views, let's get to it!  

Next up:  Renaldo does blockchain!!

The story:  Renaldo drops NFTs on BINANCE in a fan lovefest!   Despite crypto reaching a "Lehman moment."  Rehash the crash, & Crypto.com's nonsensical marketing spend.   A CZ quote praising Renaldo as the icon that he is.  Renaldo's frenemy Lionel is already the face of Socios' crypto fan tokens.  Binance already had a spat with the Spanish SEC over paying Andres Iniesta as an influencer.

The REAL story:  To stay in a good mood, we gotta skip some of the  crypto "crisis" chit here.  Rehashing Terra and all is getting old, but understandable.  Calling it a "" moment is "It Like Beckham " though!!! which the FT d-mn well knows.   The original sin of the fall of Lehman Brothers wasn't just another market crash /  brokerage house crash n burn.  The obscenity was that  the supposed "watchdog" ratings agencies - Moody's, S&P, and Fitch - didn't EVEN TRY, they kept on rubber stamping Lehman's cr-p triple AAA+ to legally sell to Grandma long after the dogs in the street knew it was cr-p.  Worse yet, the three non-watchdogs were NRSRO's, the ONLY ones blessed by the US Gummint, used in multiple regulatory areas.  PLUS the giant accounting firm E&Y was lying their ass off to all of the above.  Really, would it have been so hard to give somebody an actual audit or an A-  rating once in a while to make it at least LOOK like the system was honest?   

Maybe we were asleep at the wheel about a recent ALGO ( say it FT) stablecoin Ponzi crashing.  Look at crypto lately.  Did any of y'all notice multiple semi-monopolistic USA quasi-governmental ratings firms giving Luna the HIGHEST POSSIBLE RATINGs while the biggest accounting firm in the world deliberately lied  for YEARS to keep the pipeline of cr-p running to  Granny's pension firms (which were set up by law to not allow any such thing? )  Cause THAT would be a Lehman moment  for crypto ya (*^*$^&#$ b-ttheads.  Oh wait, maybe not since by current law Grannies' fund can't buy any crypto at ALL. 

Sorry, back to the funny parts - Binance and CZ look great here.  CZ recently joked about how hard it was not to buy stadiums, LeBron, etc. so he could have employees.    In praising Renaldo, CZ is just cranking up the commish Binance will reap from flogging NFTs, it's a massive win win. 

Back to happy happy.  Here's an honest bit of reporting.  All negative implications belong to the interviewee and no crypto truths were harmed in the making of this article, thanks Oliver baby!!Sopnendu runs the MAS, the Monetary Authority of Singapore central bank.  After years of being crypto attractive, Mohanty shows the iron fist in the iron glove. Three Broken Arrows Capital has brought shame on the Lion City.  Starting even a few months ago, Sop scared away Binance and Bybit, the deriv exchange.  A rehash of Terra, Luna, and Broken Arrow is short n sweet, the FT still can't pronounce "algo stablecoin" but hey.  Singapore's approval process is excruciating, but CRYPTO.COM has passed & will open in Sing and Dubai.  Mohanty makes some noises about the world is lost in  "private currency."  MAS has launched dev efforts for a CBDC and hopes the world will use theirs in three years.   The real story?  Great, awesome.  No spin.  We think MAS is quite right to crack down on anyone who is breaking financial laws. It will be a hard race to be the CBDC of CB's.  And three years is forever ever in cryptoMAS is nuts to think their coins will solve "market turmoil" caused by too many currencies, but TBF those are very central bank like thoughts, which is fine as long as given to us by a central banker and not by a reporter's bias. 

The big spread: Thank you Gillian!!!

Sorry we lost it over the crypto Lehman stab snuck into a soccer NFT story.  But here, Gillian floats high above Trafalgar Square and shows us how it should be done!! Along with a custom graphic, a bit gravelike but that's the point, we all believe in Shiva the destroyer spring cleanings.  What's the story?  The Collision crypto conference in Toronto pulled 35,000 coinlovers, but more than half of the top speakers dropped out for "health and family" reasons lol. Another rehash where the FT can't say "algo," but doesn't smear Tether either.  Gil mentions Sammy Fried's bailouts, but to her credit describes Sam NOT as a central bank,  rather JP Morgan bailing out banks before there WAS a central bank.  This is "embarrassingcrypto evangelists", and draws "schadenfreude" from Gates and Buffet, and gives regulators cover to decry any future" for "" coins.  The establishment is fighting back, she notes Singapore was once warm but now yaps that their CDBC could displace "private" digital money.  All true, and extraordinarily fair by FT crypto reporting standards. Gil thinks mutation is more likely than death for crypto, as shown by crypto's "" like survival.  And the huge pool of players who believe not just in Web3, but in the "idea of creative destruction."  Brian from Binance says "churn is good" & that Binance wants to be Amazon crawling from the dot-com wreckage.  Gill says it could be "esperate spin" but yeah, all the losers were over leveraged, fought regulation, had crazy complex products, and blew fortunes on expansion.  Other's, like Binance, seem fine.  Circle USDC has been gaining on Tether by not feuding with regulators. Gill says she is not picking winners, these are early days, and like Amazon's growth, things will change, and Web3 has "promise and peril.

The REAL story -cue the applause machine, Ms. Tett, we LOVE YA!!! If your editor had inserted the words "algo" vs "fully backed"  we would rate ya The hydra reference was a bit neggy, but very applicable. Never heard so much about "private" coins, sounds like a central bank attempt to meme.  In Dave's world, a journalist would laugh in the face of a central banks thinking they can wipe out "private" coins with their CDBCs.  Hey we can dream!!!

That's it, well plus even Lex briefly mentioned a crypto company in a positive light without sneering. 

Peace, love, and laugh at anyone who says "Lehman moment for crypto"