it’s been a news-packed crypto week. Here’s everything you shouldn’t have missed:
Dangerous: FTX Sell-Off?!
The fall of FTX last year caused an enourmous crash in the crypto markets. But the whole thing might not be over yet…
FTX may start selling as much as $200M/week in crypto, which of course isn’t good for the markets. But just how bad would it be? Should you rather sell everything before it’s too late? Find out everything you need to know and Julian’s opinion in this video: https://youtube.com/watch?v=PEbf44veecQ
@SilverBack_Bob made some insane returns as a Bake customer – congratulations!!
Also, Julian and his Bake Co-Founder Uzyn held an AMA session at the Token2049 event in Singapore this week – thanks to everyone who participated!
Also, for all the Ordinals enthusiasts out there, the Cake Group hosted the biggest Ordinals event in crypto this week. It was a blast! If you don’t know what Ordinals are yet, here is everything you need to know: https://bake.io/blog/bitcoin-ordinals
Julian’s Q&A of the Week
Q: What tips would you give someone who wants to become a better crypto investor?
A: I would give these factual statements to work with:
- Short Term, Price follows Emotions.
- Long Term, Price follows Value.
- Value = Utility * People * Rarity
- Without utility, value is 0.
- Store of Value means, the above formula is stable over time and is NOT a form of utility.
- Being limited in number is different to being rare and also different to being scarce.
In The News
- Court approves sale of FTX digital assets, up to $3.4B worth to be unleashed
- Pick up in US inflation unlikely to provoke Fed
- Paxos confirms it’s responsible for paying a $500K Bitcoin transaction fee
- Deutsche Bank taps Taurus for global crypto custody services
Quote of the Week
When you think it’s the end,
you don’t think about all the things that you’ve done,
but of all the things you missed.
You think about the person you could have been.
Those were the most important updates from this week. And what have you been up to? 🙂
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