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Plus: Is Q4 preparing for a monster move? |
GM. No oranges were harmed in the making of this juice, but a few altcoins definitely were. On the menu today: 🧊 Banks freeze, Bitcoin frees. 🍍 Where crypto's at now + expectations for Q4. 🍋 Bitstamp review, London Stock Exchange launches blockchain-based fund system + more |
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🧊 Banks freeze, Bitcoin frees | |||||||||||||||
If you ask a crypto bro why they're in crypto, they might say something about financial freedom. But 99% of the time, their real answer is number go up. Which isn't bad. Get yo' bag. But every now and then, we're reminded what crypto was really made for. And today's story is one of those times. Over the weekend, Thai banks froze 3 million accounts suspected of being "mules" for scammers - and imposed daily transfer limits on everyone. Digital Economy and Society Ministry secretary Wisit Wisitsora-at said the suspensions are only temporary and will be lifted once checks confirm no wrongdoing. Now, this whole thing happened in response to an increase in online scams that have drained an estimated 6B baht (~$189M) from victims over the past year. 👉 On one hand, yay, fighting scams! 👉 On the other... remember, these weren't proven scam accounts - just suspected ones. Meaning, innocent people and businesses lost access to their own money, too. Which isn't fair. Hmmm... if only there were a system that fixed this... 🤔🤔 Lemme introduce you to something called Bitcoin. Now, to be fair, Bitcoin doesn't stop scams - those definitely exist in crypto too. But it does stop innocent people from losing access to their money because of "suspicion." If you hold your Bitcoin in self-custody, no one can freeze it. There's no central authority with a kill switch. Transactions are peer-to-peer - no bank approval required. The trade-off? Absolute control means absolute responsibility: no reversals, no bailouts, no customer support to call if you mess up. Basically, with banks, you trust institutions. With Bitcoin, you trust yourself. Choose your fighter 🥊
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🍍 Market flavor today | ||||||
Crypto isn't exploding right now, but it does look like it's getting back on track - the top coins are in the green on weekly charts. That's mostly because everyone's expecting the Fed to cut interest rates tomorrow, so people are already getting more comfortable taking on risk again. And you can actually see this risk appetite showing up in ETF flows: 👉 Bitcoin ETFs have now had six straight days of inflows - $2.5B in total; 👉 Ethereum ETFs have flipped positive as well, with five straight days of inflows totaling $1B. A sign that institutional money is positioning for something bigger?.. 👀 But then... if all this money is flowing in... why aren't the prices going wild? Don't worry, that totally makes sense. Traders might be optimistic about rate cuts, but they're also nervous about the immediate aftermath. Rate cut announcements are known for creating short-term volatility before markets find their new direction. That said, if we focus on the longer-term... Bitmine chairman Tom Lee said that if the Fed does cut rates, Bitcoin and Ethereum could see a "monster move" in Q4. Why does he think so? Quick mafs: Lower rates (aka more liquidity) + growing institutional interest + Q4 has historically been a strong period for crypto = 🚀 But for now, we just wait and cope 🙏 |
🍋 News drops you can't miss |
🤔 Bitstamp is one of the OG exchanges, but does it still hold up today? Check out our review and see for yourself. 🇬🇧 The London Stock Exchange launched a blockchain-based system for managing private investment funds. It handles issuing investments, turning them into tokens, and settling trades. 🙏 K9 Finance, a dApp on Shibarium, is offering a 5 ETH bounty to the hacker behind a recent exploit. They're asking for the stolen assets to be returned. ⛔️ Vitalik Buterin warned against using AI to govern blockchain projects. He said giving AI control over decisions like fund distribution could be abused, since people might find ways to manipulate or bypass its rules. 💰 Next Technology Holding, which already owns a lot of Bitcoin, plans to raise up to $500M. The money could go toward regular business needs - or toward buying even more Bitcoin. |
🍌 Juicy memes |
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