FT Crypto Watch Dec 7th

Cipherfolk, we love you!! It's just so great to be here with y'all at the world's finest crypto hive mind, the Publish0x!!

A wonderful time to be alive!!  Reading music:

Counterpoint for changing the fabric of FT crypto coverage TODAY!!! One click at a TIME Watch ARMY!!! 

corruption watch:  It's funny, KPMG is paying an 8 million dollar fine for various sins.  Today, we learned that their auditors CHEATED!!! on their PROFESSIONAL EXAMS AH HA HA HA!!! 

Jem focuses on Sammy - he was embarrassed, ok, but he HAS NO SHAME! TLDR: she's right.  No shame!! two thank yous !! 

Online is hopping with the samo agitprop narrative, here's one.  When ya attack Silvergate bank for daring to talk to anyone who touches crypto, then the next day ya gotta attack Signature bank, tell corporate it's the same picture.  : Same copypasta.  NOTHING burger story.  Signature has 103 billion in deposits, 23% is crypto related, they will take that to 20%.  Oh ya, and they had < 0.1 percent of those deposits from FTX.  Rehash FTX number go down.  Who cares??  If your neighbor commits insurance fraud and deposits the gains in your local bank, is it the BANK'S fault?  Have an FU FT for this narrative driven waste of space. 

:  The bull is never humbled, just set back for a time.  Still funny, the FT "burn it all" boys did NOT want these or ANY regs!! But they can't say burn it all anymore.  This changes the  copypasta anti crypto bingo checklist.  But let's play anyway, new entries!! w/ counterpoint, cuz LEX is feelin uppity: 

It was stablecoins, not the SPAC, that made the deal too stupid to live taking public. 

Circle positioned itself as the hyper obedient quasi-CDBC option, NOT the "transparent" option. 

Ah ha HA HA HA!!! Wise, the transfer company is not even going to come CLOSE to eliminating the need for stablecoins, get that weak $(#&* outta here!!!

Dear readers know Tether did NOT break the buck, they redeemed TEN BILLION CASH in a historically EPIC event, withstanding the most huge tsunami of bank runs EVER!!! 

The BIG funny lie:  Lex pushes the copypasta we laughed at yesterday, that USDC went down cuz of the "cowboy" market and the FTX collapse!! Wow that's just INSULTING, they are gaslighting us and don't even care, have they no SHAME!!! Sorry dear readers gotta say it AGIN: Self censoring all USDC that got close to Tornado is what crashed USDC, and nothing else, look at the other stablecoins over the same period.  Here, LEX uses weasel words a small bit better that the previous agitprop attempt, but basically trying to tell us Sammy crashing FTX reached back in TIME to cause the USDC market cap slide ar ar ar AROOOOOOOOOO. AH HA HA HA HA !!  The judges hate to let us toss FU's to the mighty Lex, we want to award three but are talked down into two out of five FU's for this copypasta gaslighting spin job. 

In closing, LEX says stablecoins under Mica will have to either overcollateralize in  the most expensive way, or rebrand as chitcoins. Block bunce?  Faux fiat?  Oh ho ho no no not. 

The REAL story: It's funny, Lex won't come out and say it, but they confirm our earlier thoughts about Mica.  The big chunk of Mica law says locals only regulated stablecoins.  Which WILL cause more effed up, inefficient, expensive, risker  job than the market for sure, no doubt whatsoever. 

Finally, online another of those stories ya cringe cuz ya KNOW they're coming - tho no one expects the spanish inquisition - what a strange timeline we live in: TLDR: Sammy's side say they tried to talk him out of it, too expensive!!! But him and Wantanabe the FTX biz developer were Tay Tay fans.    Yeah, but is the average TS fan the target crypto trader?  Taylor Swift's side said she never would, never even thought about it. 

That's it. That's the whole story.  Otherwise, rehash Larry David, Giselle, FTX stadium, Tom, tennis stars, every litany of FTX blowing money except the money for the politicians.  Oh wait here's the totally necessary print pic gotta love it!!

TOTALLY necessary, thanks print eds!!! 

We must snooze!! Thanks so much for being here, it matters.  Take great care of yourselves, and we'll see ya soon!! 

Peace out

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