FT Crypto watch March 9

Cryptonauts we love ya!! 

Tough week for the ol' crypto world tho. Let's go take our lumps from the ol pink lady!!  Reading music, we gonna need it A VERY long way to the shop for a sausage ROLLLLLL baby!! 

Headlines - things looking gloomy for li britain!! Ya OK the FCA stomped on crypto ok.  Now the City keeps on dying : Karma is a Bia bia bia, FCA!!   elsewhere: bia bia bia bia!! 

Hey don't forget censorshipIn china and Georgia, it's alll censorship vs crypto to us!! 

Tradfi corruption funnies- the fragrance industry is worth 40 billion!! & the top four, who control 60% + of that, all just got raided for running a cartel AH HA HA HA HA!!!  good for the gummints!!!

OK, crypto that SAYS crypto?  We get ONE DROP in print.  An op ed says that politicians since 2017 wanted the UK to be a world leader in crypto!!  Yet the FT as @#!(*#@*(& USUAL totally fails to mention how the Yes Minister gang, led by the FCA, completely hamstrung ANY such efforts!  With the HELP of the FT of course!!! The hypocrisy is STEAMING!!!

Online, time for our lumps then. File it under "knew this was coming but still hertz donut"TLDR: nice depressing pic!!!

RIP Silvergate.  OK, sad but funny,  Silvergate DID have a big fat quote from Sammy advertising on their website. 

Lex of course cannot resist in the fun: TLDR: a very sober, mainstream obituary.   Even our hypersensitive arse cannot really find much to whinge about!!!  No other Merican bank has failed in the last two years, a pretty good run for those things.  Silvergate will just nudge into the top 50 biggest banks to fail, we bet that list is NOT inflation adjusted!!! 

story:  The SEC kicked Silvergate while they were down, HARD.  Removing any chance of a fair fight by threatening / doing investigations.  We still do NOT think Silvergate was supposed to know that Sammy was stealing client deposits, and we think that Silvergate WAS doing it all by the book.  But the SEC is out to kill crypto, and in this case a nudge was as good as a wink as a nod, Silvergate was blackballed.  & crypto is taking the short term hit. 

Finally, online, we get Gil's latest visit to the Eye of Mordor, the BIS HQ. 

Hey, separated at birth? erm sorry here we go:

:  The BIS is gettin all funky hip with gasp WHITEBOARDS!!! Ah HA HA HA HA HA!!

: it's really funny.  We often laugh at how the BIS thinks ALL central banks are good!!!  So now, phase II, therefore all CBDCs must be good!!   Here the FT repeats Augstin's lie that the battle between fiat and crypto has been won by central banks. Led by the BIS, 114 central banks are doing research, 20 CBDCs are in pilots and 112 have launched as of 2022.  

The REAL story:  OMFG this is bad news.  LIke, member the scene from the Alien "derelict" movie with ALL the evil eggs??Yeah, like THAT kind of bad news!!!  On the other hand, it's kinda an admission - if ya can't beat em, join em?? 

Clicking thru all the links in the article leads to a couple of fun stories.  One, Jerome Powell and Janet Yellen meet for breakfast every week. One week, Jerome was ready to approve LIbra!! Janet said if you do, I will not shield you from the political fallout!!  Another link says  basically "republicans and democrats alike beat down crypto" and clicking thru, the story lists democrats doing so.  Keep that narrative STRONG, FT!! Spin spin SPIN!!! 

OK we are outta here!! We love you cryptonauts!! Take care, it's a very long way to the shop for the BIG sausage roll!!! 

Please refer a pal!! Trying hard to reach that awesome 1,000 followers on the mighty Pub0x!! 

Peace out, love

Ridin' down the highway

Goin' to a show

Stop in all the byways

Playin' rock 'n' roll

Gettin' robbed

Gettin' stoned

Gettin' beat up

Broken-boned

Gettin' had

Gettin' took

I tell you, folks

It's harder than it looksIt's a long way to the top if you wanna rock 'n' rollIf you think it's easy doin' one night stands

Try playin' in a rock roll bandHotel, motel

Make you wanna cry

Ladies do the hard sell

Know the reason why

Gettin' old

Gettin' grey

Gettin' ripped off

Underpaid

Gettin' sold

Second hand

That's how it goes

Playin' in a bandIf you wanna be a star of stage and screen

Look out, it's rough and mean

Well it's a long way, you should've told me