Geralt Davidson 🐺 Profile Banner
Geralt Davidson 🐺 Profile
Geralt Davidson 🐺

@CryptoInsider23

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Independent Market Analyst ■ #Crypto trader since 2017 ■ Stablecoin Researcher

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Joined March 2013
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@CryptoInsider23
Geralt Davidson 🐺
2 years
Circle's USDC scheme is on the brink of collapse. If you read their SPAC IPO filings its clear they have been losing money constantly but theres something dirtier happening underneath. They're at major risk on defaulting on USDC reserves. A deep dive 🧵 on USDC. 👇
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@CryptoInsider23
Geralt Davidson 🐺
2 years
BREAKING: Circle USDC will collapse if the company can't raise money. Circle is over paying banks to pump USDC market cap!!!
@CryptoInsider23
Geralt Davidson 🐺
2 years
Circle's USDC scheme is on the brink of collapse. If you read their SPAC IPO filings its clear they have been losing money constantly but theres something dirtier happening underneath. They're at major risk on defaulting on USDC reserves. A deep dive 🧵 on USDC. 👇
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@CryptoInsider23
Geralt Davidson 🐺
2 years
Im a crypto insider so I can and need to tell you what's going on behind the curtain and it really is so very bad. This is the dirty secret being kept quiet by crypto hedge funds and the big guys. Be careful for when this blows up. PEACE. ☮️
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@CryptoInsider23
Geralt Davidson 🐺
2 years
The shady part: USDC is now lent to high-risk lenders. Customers of these loans include Genesis, BlockFi, Celsius, Galaxy, Alameda and 3AC. It's a list of nearly every borrower that is blowing up LMFAO!!
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@CryptoInsider23
Geralt Davidson 🐺
6 months
Yesterday USDC dropped by 10 BPS against USDT. It was after Circle denied two large funds from redeeming USDC. Small redemptions are being processed but not large ones. Something strange is going on. I will share more details when I know more.
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@CryptoInsider23
Geralt Davidson 🐺
1 year
Since Geralt has exposed how Circle runs USDC scheme, a series of troubled signs started to surface. Circle was offering yield for money deposited at Circle Yield. Its APY has been dropping from 10.75% all the way to zero and stopped operation.
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@CryptoInsider23
Geralt Davidson 🐺
6 months
🚨🚨🚨 BREAKING: Something odd is going on with USDC. The spread between itself and USDT is widening. What I heard is that two funds were denied redemption so arbitrage is not possible now. Watch the Circle situation. This could be the end for them.
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@CryptoInsider23
Geralt Davidson 🐺
2 years
How it starts: Circle loses money to pump USDC market cap. Circle pays the higher rate of what Signature and Silvergate are normally making on cash deposit. For this arrangement Signature converts every Dollar from all customers into USDC.
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@CryptoInsider23
Geralt Davidson 🐺
1 year
Hey @jerallaire , it looks like you are supporting in spreading FALSE data blatantly, the information you tweeted is clearly wrong. If you can’t see it, then It makes me wonder if you have performed due diligence on any of your business decisions. This is absurd.
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@CryptoInsider23
Geralt Davidson 🐺
2 years
My sources say this is ~5% per year at current interest rates. This is why Circle is always losing money! They were raising money twice per year for the last few years to pay for these incentives. Circle lost already 500M in Q1 2022 on track to lose 1.5B in total for 2022!!!
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@CryptoInsider23
Geralt Davidson 🐺
11 months
CIRCLE CANNOT SURVIVE A BANK RUN. A friendly reminder to everyone that Circle still do not have access to the $3.3B funds that was stuck to the Silicon Valley Bank, which is more than 10% of its current market cap. We may see a major collapse here.
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@CryptoInsider23
Geralt Davidson 🐺
2 years
The size of the hole among all lenders, exchanges and liquidity providers has been counted in the $3 to $5 billion range. You can see USDC and Signature are at risk of a Bank Run since lenders cannot return billions and billions of USDC!!
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@CryptoInsider23
Geralt Davidson 🐺
2 years
Circle also uses an offshore Bermuda company to provide a USDC lending facility to avoid US controls and disclosures. @GaryGensler
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@CryptoInsider23
Geralt Davidson 🐺
1 year
Silvergate bank share price took a huge beating as it was forced to sell assets with losses to cover billions of crypto related withdrawal in the wake of FTX’s collapse. Silvergate works with many major crypto firms like Circle, Coinbase, FTX, Alameda, Genesis etc..
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@CryptoInsider23
Geralt Davidson 🐺
1 year
USDC may have bounced to its original price but do not get carried by the notion that Circle has recovered from the collapse of Silicon Valley Bank. The suspicious activities that they have conducted cannot be hidden, especially from the authorities.
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@CryptoInsider23
Geralt Davidson 🐺
1 year
USDC jeopardy continues as another affiliated institution find themselves on the verge of collapsing. Silicon Valley Bank is a crypto & tech-friendly lender which recently sold off a 21B bond portfolio for a considerable loss to shore up its liquidity.
@CoinDesk
CoinDesk
1 year
Bitcoin and ether fall to two-month lows as issues at Silicon Valley Bank triggers fears of a banking sector crisis. Analysts at ING, however, do not see any evidence of widespread stress in the system. Reports @godbole17 .
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@CryptoInsider23
Geralt Davidson 🐺
2 years
Circle is paying an interest equal to: t+bill short term interest + an additional interest (delta from long term t+bill vs short term t+bill).
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@CryptoInsider23
Geralt Davidson 🐺
2 years
The next part: USDC reserves are invested and recycled into Signet & SEN. Every dollar that gets deposited into Signature or Silvergate gets auto swapped into USDC and they can lend it out. Since they are banks, they can leverage their reserves and go fractional reserve.
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@CryptoInsider23
Geralt Davidson 🐺
1 year
ONE FRAUD TO ANOTHER. The Coinbase-Circle relationship has took a turn into the worse as the projected Q2 performance of $COIN is expected to crash. This is due to the regression of USDC's market cap, in which Coinbase majorly depends their revenue.
@RhoRider
Rho Rider
1 year
🚨 $COIN is actually screwed Q2. USDC interest was 25% of their Q1 income . Up from < 1% Q1 '22! Insane Their interest rev share depends on how much USDC they hold. They ended with 65% LESS USDC Q/Q! USDC total market cap🔻30% (and falling) Q1 REVENUE DOES NOT REFLECT THIS!
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@CryptoInsider23
Geralt Davidson 🐺
9 months
THE ALARMING USDC MARKET CAP 🚨🚨🚨 Circle's USDC continues to plummet as the crypto market experience bear. What is more scary is the rate of USDC drop is currently one of the biggest. It is possible that we see this 'stable coin' collapse before bull market.
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Geralt Davidson 🐺
2 years
Initially I thought Otteroo is like a vigilante in crypto space, issue warnings to all crypto investors in advance to prevent possible financial loss. It turns out that I was wrong about Otterooo.
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@CryptoInsider23
Geralt Davidson 🐺
8 months
THE BINANCE SILENT MELTDOWN 🍵 The world's current biggest centralized exchange is facing serious issues that poses threat on its existence. Binance is bleeding now more than ever and the dots that would lead to its shutdown is starting to connect.
@0xStartt
JetStart 👾
8 months
Binance FUD or why @binance = FTX 2.0 Pressure from the SEC, DOJ, etc... Even though CZ says everything is fine, it is not 🥲 Since the beginning of June, the following have left Binance: - Chief Business Officer (CZ's right hand) - Chief Strategy Officer - General Counsel -…
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@CryptoInsider23
Geralt Davidson 🐺
1 year
Circle's bad performance does not stop in billions losses last year. Their affiliation with other shady companies such as BlackRock now seem to backfire. BlackRock investors are divesting and have lost $4B. The same institution handles USDC reserves.
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@CryptoInsider23
Geralt Davidson 🐺
1 year
TROUBLE IN THE AIR. USDC's market cap has fallen to $30B from $54B in the last eight months; the market share dropped from 32% to 23%. This big of a decrease is very concerning considering it is a 'stablecoin'. Remember it also depegged to $0.8 recently.
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@CryptoInsider23
Geralt Davidson 🐺
1 year
It looks like Jeremy’s butt kissing campaign on SBF has failed miserably. The moment SBF/FTX went down, he knew that SPAC IPO deal is a goner. The connection SBF had with Gary Gensler could not help Circle to get its SPAC IPO approved.
@jerallaire
Jeremy Allaire
1 year
1/ Some big @circle news. This morning, we announced the termination of our proposed deSPAC transaction. While disappointing that we did not complete SEC qualification in time, we remain focused on building a long-term public company.
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@CryptoInsider23
Geralt Davidson 🐺
1 year
A notorious scammer @Cryptovinco hopes to get his main Twitter account @Cryptowhale unsuspended by Twitter’s general amnesty. Scammers don’t deserve free speech. @Elonmusk please have @cryptowhale deleted from the system.
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@CryptoInsider23
Geralt Davidson 🐺
2 years
The recent rally of the #crypto market has revealed something strange. I noticed USDC market cap has SHRUNK while USDT/BUSD has EXPANDED. It makes perfect sense that market rally will drive demands for more traders and funds to re-enter crypto space.
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Geralt Davidson 🐺
1 year
The money deposited by Coinbase users is now serving as a lifeline to Circle. Coinbase has lost tons of money, where did the 3 billion come from? Remember, 'Not your keys, not your coins' Please withdraw all your assets from Coinbase immediately. better safe than sorry.
@WuBlockchain
Wu Blockchain
1 year
According to Fortune, Coinbase provided an instant credit line of about $3 billion to Circle after the bankruptcy of SVB to ensure that the USDC can be converted into US dollars on Monday morning.
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@CryptoInsider23
Geralt Davidson 🐺
1 year
The recent stablecoin hearing did not go well for Circle as they find themselves in shambles. They had no solid answers and seemed to be as evasive and concise as possible. Just look at how their representative tried to misdirect the topic.
@Excellion
Samson Mow
1 year
When questioned about why they’re losing AUM rapidly, Circle is quick to drop false accusations about Tether. The fact is USDC only grew because they were heavily incentivizing others to hold it. They stopped paying recently so that plus US bank runs = number go down.
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Geralt Davidson 🐺
1 year
When FTX was thriving, Jeremy Allaire knows he needed FTX as a conduit to promote the adoption of USDC, SBF did support Jeremy by listing USDC on various chains and also euro-pegged stablecoin EUROC on FTX.
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@CryptoInsider23
Geralt Davidson 🐺
2 years
Coinbase reported a net loss of 545 million in third quarter-its third unprofitable quarter in a row. The future of Coinbase doesn’t look too bright as one of the biggest asset management firm, Fidelity announced they will open commission-free crypto trading to retail investors.
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Geralt Davidson 🐺
1 year
Cross River Bank, Circle's current banking partner after SVB, has received a cease-and-desist order from FDIC because of issues in “internal controls, information systems, and prudent credit underwriting practices", suggesting that the bank is unsafe.
@crypto
Bloomberg Crypto
1 year
Cross River Bank, a partner of fintech and crypto firms, received a cease-and-desist order from the FDIC over “unsafe or unsound” practices related to fair-lending laws
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@CryptoInsider23
Geralt Davidson 🐺
1 year
CFTC suing Binance has uncovered a lot of suspicious activities. Famous for their KYC system, Binance ironically violated it as they ignore regulatory requirements under U.S. Law, stating that it is a "biz decision".
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@CryptoInsider23
Geralt Davidson 🐺
2 years
UPDATE: The USDC market cap continues to dive as more whales are dumping USDC. It’s pointless to keep its yield program, Circle Yield which only pays 0.25% annually. Depositors putting money in bank account probably earns more interest than Circle Yield.
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@CryptoInsider23
Geralt Davidson 🐺
2 years
UPDATE: USDC is losing its ground rapidly as its market cap struggles for recovery. % Supply Held by Top 1% Addresses dropping for months according to Glassnode. This means whales are ditching USDC. TornadoCash incident has definitely undermined the confidence people have in USDC
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@CryptoInsider23
Geralt Davidson 🐺
2 years
USDC = UST Same business model!
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@CryptoInsider23
Geralt Davidson 🐺
11 months
$COIN and $USDC are at highest risk as SEC go on a spree, hitting Coinbase, which has been struggling for the longest time. SEC claimed that the firm is an 'unregistered national securities exchange' that fails to comply to rules.
@SECGov
U.S. Securities and Exchange Commission
11 months
Today we charged Coinbase, Inc. with operating its crypto asset trading platform as an unregistered national securities exchange, broker, and clearing agency and for failing to register the offer and sale of its crypto asset staking-as-a-service program.
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Geralt Davidson 🐺
1 year
BREAKING! Crypto exchange Bittrex in U.S. filed for bankruptcy!
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@CryptoInsider23
Geralt Davidson 🐺
9 months
PAYPAL $PYUSD — the new stablecoin you should be CAREFUL of 🚨🚩 Paypal took a shot in catching with market & technology by expanding their presence on cryptocurrency. But don't get fooled by the name as their setup is primitive and sketchy. Look below 👇
@dainius_zino
Dainius
9 months
PayPal - another money printer? Their PYUSD stablecoin is being gossiped everywhere: Red flags: → The code is written in a very old version of Solidity, which means there may be bugs. Don't think that big companies don't do this. 1/5
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@CryptoInsider23
Geralt Davidson 🐺
9 months
THE 𝐁𝐈𝐍𝐀𝐍𝐂𝐄 FIASCO 🚨🚨🚨 Few days ago, I laid the red flags of #FDUSD , the new "stablecoin" on Binance. Now let us discuss the implication of these to the platform, firstly discussing how #FDUSD is potentially an aid to cover Binance insolvency.
@CryptoInsider23
Geralt Davidson 🐺
9 months
Take a look at the RED FLAGS of #FDUSD , the new stablecoin on #BINANCE 🚨 First Digital, a trust company registered under HK Trust Ordinance, launched their USD stablecoin after HK announced their regulation rules. Is #FDUSD credible? Geralt thinks not.
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@CryptoInsider23
Geralt Davidson 🐺
1 year
After a $2.6B losses in 2022, Coinbase can't catch a break as they now facing SEC enforcement action for potential violations of securities law. Geralt thinks that its not a series of misfortune but a consequence of fraud committed by the management.
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@CryptoInsider23
Geralt Davidson 🐺
10 months
COINBASE IS LIKELY IMPEDING THE APPROVAL OF #Bitcoin ETFs. In a recent finding, it is suspected by SEC that Coinbase is fully aware of violating the law as they proceed with the listings on their exchange a few years back but nevertheless made "risk".
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@CryptoInsider23
Geralt Davidson 🐺
8 months
See the recent potentially fraudulent things in Coinbase that you might have missed: 🚩The launch of Base, which is Coinbase's new layer-2 network. Potentially a new avenue where more shitcoins are listed and rugged without accountability from CB.
@claremckee123
Clare
9 months
Now, a few takeaways: Base’s early days saw clunky UX and fraud. Base's early days were plagued by UX issues, such as Coinbase’s app shutting down when users (myself included) attempt to bridge funds, and 500+ scam tokens. No big surprise there.
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@CryptoInsider23
Geralt Davidson 🐺
2 years
People now have realized there is more risk holding USDC, Circle blacklisted all the USDC on Tornado Cash addresses sanctioned by US Treasury. USDC seems like the only token being blacklisted while other ERC-20 tokens were not.
@DylanLeClair_
Dylan LeClair 🟠
2 years
NEW: @circlepay 's USDC has officially blacklisted every Ethereum address sanctioned by the US Treasury.
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Geralt Davidson 🐺
11 months
FRAUD IN BIGGEST CEX? Few days ago, SEC hit numerous crypto projects in the space and Binance is one of the most affected names among those mentioned. It triggered a $700M withdrawal; but the biggest setback are the other information that were revealed 👇
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@CryptoInsider23
Geralt Davidson 🐺
2 years
I am glad that someone sees the same thing as I do in my previous tweet Circle is losing money by paying banks to boost market cap in order to gain popularity. “Much of the USD-to-USDC tokenization is economically meaningless”
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@CryptoInsider23
Geralt Davidson 🐺
9 months
Take a look at the RED FLAGS of #FDUSD , the new stablecoin on #BINANCE 🚨 First Digital, a trust company registered under HK Trust Ordinance, launched their USD stablecoin after HK announced their regulation rules. Is #FDUSD credible? Geralt thinks not.
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@CryptoInsider23
Geralt Davidson 🐺
2 years
I am glad to see a like minded shared same insight on Coinbase/Circle. The problem with decrease in USDC market cap is partly due to USDC holders unable to receive high interest anymore.
@stacyherbert
Stacy Herbert 🇸🇻🚀
2 years
Coinbase financials, page 8: “Interest income was $33 million, up 211% compared to Q1. The increase was primarily driven by our USDC activity, as well as higher interest rates as we generate interest on fiat customer custodial funds."
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Geralt Davidson 🐺
1 year
Here are additional details on Binance US that you need to know post-CFTC claims. First, they are struggling to find a partner bank due to reasons concerning the serious allegations. The "trading violations" of Binance could ignite a bank run.
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@CryptoInsider23
Geralt Davidson 🐺
2 years
Once again, Geralt is here to warn you CEO tends to LIE when crisis looming. When FTX is facing immense withdrawals, SBF claimed their assets are fine and have enough to cover all client holding. The next day, he asks Binance for help.
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@CryptoInsider23
Geralt Davidson 🐺
2 years
It seems not only the market cap of USDC is in solid downtrend, other metrics also facing similar predicament. All these metrics are pointing to the problem of USDC adoption in both sectors of centralization and decentralization.
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@CryptoInsider23
Geralt Davidson 🐺
7 months
COINBASE IS NOT CRYPTO'S BEST HOPE AGAINST SEC. Yep, you read that right. Despite their reach and capability, Coinbase isn't likely the protagonist that Armstrong is trying to play. In fact, they're likely the indirect beneficiaries of fraud. Read ⬇️⬇️⬇️
@Cryptadamist
⚯ M Cryptadamus ⚯ | @[email protected]
8 months
i hope when people cheer for $COIN to defeat the evil SEC they think about the fact that they are cheering for billionaires who ruined thousands of lives by giving legitimacy to obvious frauds like Terra/Luna. fascinating archived site from early 2022:
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@CryptoInsider23
Geralt Davidson 🐺
2 years
Has Monetary Authority of Singapore(MAS) done their due diligence on Circle/USDC? MAS has accelerated approvals for crypto service providers and yet they are tightening regulations against cryptocurrencies and other crypto assets. You probably wonder why.
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@CryptoInsider23
Geralt Davidson 🐺
2 years
When it comes to government issued sanction, Circle seems to bend their knee quicker than everyone else without order from authority.
@0xfoobar
foobar/
2 years
Tether blacklisted the account, so hack confirmed. I'm sure Circle's intern will wake up tomorrow morning and get around to it after enjoying a relaxing breakfast spread
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@CryptoInsider23
Geralt Davidson 🐺
5 months
COINBASE INVESTORS ARE UNSAFE 🚨🚨🚨 As the problems in centralize exchange arises, one may think that switching from Binance to Coinbase is the right thing to do. As these CEX gets flagged by SEC, this isnt the platform you want to be in. It ain't over.
@CoinDesk
CoinDesk
5 months
Coinbase CEO Brian Armstrong says the industry can finally close the chapter of bad actors after the recent settlement between @Binance and the U.S. Department of Justice.
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@CryptoInsider23
Geralt Davidson 🐺
1 year
FTX - A company with huge failure on internal control. Now Silvergate bank faces lawsuit for allegedly transferring FTX customer deposits into Alameda Research accounts. Watch out for firms associated with Silvergate bank.
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@RecorderTweets
The Recorder
1 year
Silvergate Bank, CEO Hit With Lawsuit for Allegedly Transferring FTX Customer Deposits Into Alameda Research Accounts
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@CryptoInsider23
Geralt Davidson 🐺
2 years
UPDATE: USDC is losing its ground rapidly as its market cap struggles for recovery. % Supply Held by Top 1% Addresses dropping for months according to Glassnode. This means whales are ditching USDC. TornadoCash incident has definitely undermined the confidence people have in USDC
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@CryptoInsider23
Geralt Davidson 🐺
2 years
Many of you probably don’t know that Jeremy Allaire was involved in a securities fraud back in 2002 and the SEC knows that! What Jeremy has done with Circle has proven he is still the same man as 20 years ago.
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Geralt Davidson 🐺
1 year
USDC rug pull in progress! Get your money out of USDC before 💩 happens AGAIN. frens
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@CryptoInsider23
Geralt Davidson 🐺
2 months
CIRCLE BETRAYAL: #USDC IS GETTING PULLED OUT ON #TRON #TRON is the recent victim of Circle's dirty little ploy. Circle is infamous for disposing their "partner" whenever an opportunity is presented. Did they think this would help their IPO Filing? Nope.
@coinbureau
Coin Bureau
3 months
Circle rugging Tron?
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@CryptoInsider23
Geralt Davidson 🐺
1 year
It’s always nice to have some “stress test withdrawals” on these exchanges, so we know who is swimming naked and who deserves to stay in this industry.☮️
@cz_binance
CZ 🔶 BNB
1 year
Things seem to have stabilized. Yesterday was not the highest withdrawals we processed, not even top 5. We processed more during LUNA or FTX crashes. Now deposits are coming back in. 🤷‍♂️💪
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Geralt Davidson 🐺
2 years
While I was looking at Coinbase Q2 report, I have seen something irregular. Among all the revenues, interest income is the only revenue exhibit positive growth. It’s normal to experience less revenue in a down markets and we certainly don’t expect interest income to rose 211%.
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Geralt Davidson 🐺
10 months
THE DOWNFALL OF BINANCE. There have been numerous alarming information about Binance recently. But what should concern you most is what SBF knows and how it will affect the CEX's future. Also, are you aware of the SUS similarities between Binance & FTX?
@_d3f4ult
D3f4ult Trades🎯
11 months
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@CryptoInsider23
Geralt Davidson 🐺
2 years
It’s not nonsense. CMS You know what happens in Circle back room deals. Stop protecting Jeremy.
@cmsholdings
THE CMS
2 years
This usdc stuff is straight nonsense there’s much better real issues to go after anon analysts
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@CryptoInsider23
Geralt Davidson 🐺
2 years
Look how ridiculously this is that Circle hires bunch of bots to spam fuds all over the place. I wonder how much of the 800M losses had spent on this negative campaign. Circle could not compete in a fair manner, I guess a CEO with criminal past has his own way of running a biz.
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Geralt Davidson 🐺
1 year
Cross River Bank is in big peril as DOJ focuses on bankers that approved 'emergency relief loans', a scheme that was prominent back in the heat of the COVID-19 pandemic. Problem arose when the liable lenders aren't found because these were 'fake loans'.
@RhoRider
Rho Rider
1 year
Both #CrossRiverBank and $CUBI were involved in massive PPP loan fraud schemes and are currently under investigation by the SBA & DOJ. The evidence is undeniable. It’s not a matter of if they’ll be subject to indictment…but when.
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Geralt Davidson 🐺
1 year
Nasdaq should delist this 💩coin.
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@CryptoInsider23
Geralt Davidson 🐺
1 year
FTX - A company with huge failure on internal control. Now Silvergate bank faces lawsuit for allegedly transferring FTX customer deposits into Alameda Research accounts. Watch out for firms associated with Silvergate bank.
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Geralt Davidson 🐺
2 years
There was a disturbing rumor about Ava Lab on Twitter. Basically the whistleblower claims Ava Lab is working with a law firm,Roche Freedman. In their agreement, Ava Lab offers Roche Freedman a portion of AVAX tokens in exchange of its legal service.
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@CryptoInsider23
Geralt Davidson 🐺
1 year
Even ChatGPT knows USDC is a ticking bomb waiting to explode! 🤣🤣
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@CryptoInsider23
Geralt Davidson 🐺
1 year
@coinbase Trusted and reputable? You might want to think twice.
@CryptoInsider23
Geralt Davidson 🐺
2 years
Circle's USDC scheme is on the brink of collapse. If you read their SPAC IPO filings its clear they have been losing money constantly but theres something dirtier happening underneath. They're at major risk on defaulting on USDC reserves. A deep dive 🧵 on USDC. 👇
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Geralt Davidson 🐺
2 years
Breaking! Exchanges are starting to stop supporting USDC! It's too risky for them and their customers to support a stablecoin from a company in financial trouble!
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@CryptoInsider23
Geralt Davidson 🐺
2 years
The CEO of Credit Suisse explicitly stated the bank has STRONG CAPITAL BASE and clearly its a LIE. Guess what, Circle also suffered huge losses of 800 millions and on its path to lose even more by the end of 2022.
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@Reuters
Reuters
2 years
In a make-or-break overhaul, Swiss lender Credit Suisse seeks to raise $4 billion from investors, cut thousands of jobs and shift its focus from investment banking towards its rich clients
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Geralt Davidson 🐺
1 year
Also don't forget Circle is deeply connected with FTX and its contagion is not over yet. DCG and Genesis may be the next facing bankruptcy. There is a pattern here as these interconnected companies are blowing up one after another.
@WuBlockchain
Wu Blockchain
1 year
The SEC and US Attorney’s Office for the Eastern District of New York are scrutinizing transfers between DCG and Genesis. 3AC's $1.2 billion debt to Genesis was at the heart of its collapse. According to Bloomberg.
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Geralt Davidson 🐺
1 year
Geralt not the only one give out warning on CB, tons of lawsuits against CB, horrible customers service and w/ their Rev heavily relied on retail trading. The open of commission-free retail trading by Fidelity might be the last straw broke the camel’s back.
@GRDecter
Genevieve Roch-Decter, CFA
1 year
The market is worried about Coinbase’s solvency. Here’s what I know:
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Geralt Davidson 🐺
3 months
Coinbase: potentially the single point of failure of Bitcoin ETFs 🚩🚨 Financial Times has made an article that tackles the risk and flaw of BTC ETFs. 8 out of 11 sponsors use Coinbase as their custodian. Mighty as it seems, this don't seem wise ⬇️
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Geralt Davidson 🐺
2 years
This is what happened when you forged SEC documents and used it for malicious attack. A verified account with half million subs gone.
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Geralt Davidson 🐺
2 years
Coinbase Signed multiple deals with ICE (part of DHS) to hand over your private data!!. The team at Coinbase partly emerged from a blockchain intelligence firm called Neutrino. They used to sell spyware to the government agency. So you know what they are capable of.
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Geralt Davidson 🐺
7 months
BINANCE audit report came out and the result is beyond disappointing 🤮😵‍💫 For starters, the data produced was audited by Binance itself, rather than a conventional 3rd party auditor. Self-audit is usually done for hiding fraud. But there may be more...
@rovercrc
Crypto Rover
7 months
Binance has just released its eleventh reserve audit report. Still, they are not using a 3rd party to confirm they are holding the necessary customer funds. Given this, do you doubt Binance?
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Geralt Davidson 🐺
1 year
What’s the odds that these crypto firms who works with Silvergate are either bankrupt or on the verge of collapse? Circle has deep connection with Silvergate as they made deals to inflate USDC market cap.
@CryptoInsider23
Geralt Davidson 🐺
2 years
Circle's USDC scheme is on the brink of collapse. If you read their SPAC IPO filings its clear they have been losing money constantly but theres something dirtier happening underneath. They're at major risk on defaulting on USDC reserves. A deep dive 🧵 on USDC. 👇
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Geralt Davidson 🐺
10 months
THE CATALYST OF COINBASE COLLAPSE. Coinbase has received more exposure as the firm's name gets mentioned in various ETF Filings. Either it gets approved or not, it will be bad for the CEX as the limelight exposed the platform's fraudulent tendencies.
@EricBalchunas
Eric Balchunas
10 months
Gensler was asked today in a webinar about Coinbase being at center of ETF filings. He couldn't comment on the filings but went pretty negative on crypto exchanges saying they operate "conflicting services" and have "limited risk monitoring" Here's full quote via @TheBlock__
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Geralt Davidson 🐺
1 year
Since Silvergate lent USDC to high risk borrowers and now those borrowers are unable to pay back the loan, that’s how the crisis of Silvergate surfaces and Silvergate had to sell asset cheaply to meet withdrawal demand.
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Geralt Davidson 🐺
2 years
UPDATE: The market cap of USDC continues to head lower as it just dipped below 45B, it doesn’t look like it’s gonna recover anytime soon. USDC’s market valuation has dropped by more than 19% from its historical high, whilst BUSD has gain 3% during the last 30 days.
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@BTCTN
Bitcoin.com News
2 years
During the last three months, the #stablecoin #USDC ’s market valuation has dropped by more than 19%, shedding approximately $10.59 billion.
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@CryptoInsider23
Geralt Davidson 🐺
7 months
Geralt brings you another bank that's looking to be on the verge of collapsing, meet 𝐀𝐗𝐎𝐒 𝐁𝐀𝐍𝐊 🏦🚨 Axos Bank is one of Binance bankers, facing money laundering accusations, shady connections, and suspicious financial position.
@Cryptadamist
⚯ M Cryptadamus ⚯ | @[email protected]
8 months
🚨Ω🚨 Pumping my bags: another issue of #TheCryptocalypseChronicles is out on The Blogging Site That Shall Not Be Named concerning the actions of one #AxosFinancial AKA " #Binance 's new US bank". Link in bio because Elmo is pathetic and demonetizes links to That Other Site. $AX
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Geralt Davidson 🐺
6 months
THE COINBASE IRONY 🚨🚩 Funny to see Brian talking & schooling Google what "destroyed value" when Coinbase isn't exactly doing well. When talking about business model and gains, he isn't one of the credible persons to seek advice from. Context below 👇
@brian_armstrong
Brian Armstrong
6 months
This kind of decel thinking is what destroyed value at Google, and OpenAI used to be the antidote to it (now fell to the same forces, if true). EA destroyed a lot of value in crypto, now AI. San Francisco is part of the issue here also. Lots of it traces back to Marxist thinking.…
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Geralt Davidson 🐺
2 years
Circle lent out what investor deposited at Circle Yield, The majority of the position may have exposed to 3AC, BlockFi and other CeFi platforms which all of them were facing crisis of insolvency, hence Circle Yield could not sustain paying high interest anymore.
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Geralt Davidson 🐺
1 year
Circle SPAC IPO was not approved by SEC. Watch out for risk to Circle and USDC.
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Geralt Davidson 🐺
2 years
The whole domino effect on the collapse of many CeFi platforms has something to do with 3AC conspire with DCG, parent company of Grayscale and Genesis. The extreme leverage 3AC had allows them to go on investing series of shitcoins without due diligence.
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Geralt Davidson 🐺
1 year
"Price you have to pay for your country"🤣🤣
@EnronChairman
Kenny Lay (Parody)
1 year
lmao
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Geralt Davidson 🐺
2 years
Those of you still not in a state of clear mind, once again Jeremy has tried to play you for a fool by providing an unaudited reserve report. Keep in mind Circle is paying additional interest to banks they use in order to keep money in USDC.
@jerallaire
Jeremy Allaire
2 years
1/ As part of our commitment to increasing transparency and disclosure around USDC, today we're publishing our first monthly breakdown of the USDC reserve assets, by each and every Treasury Bond and list of cash reserve custodians.
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Geralt Davidson 🐺
3 months
Danger! Coinbase is trying hard to protect Circle/USDC by more adding hurdles to slow its cash outflow! BE CAREFUL when your money can go in but can’t get out!
@cmsholdings
THE CMS
3 months
Take that billionaires
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Geralt Davidson 🐺
1 year
REMINDER that Jeremy and SBF were besties!
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Geralt Davidson 🐺
1 year
Circle terminated its SPAC deal not long ago and it probably has something to do with Silvergate. SPAC requires detail filings and probably Circle doesn’t want to make public their books. Obvious there is something wrong with their USDC reserves.
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Geralt Davidson 🐺
2 years
USDC market cap shows no sign of recovery while market continues to go up. It’s a solid proof that USDC market cap is artificially inflated, not market demand at all. Also look at its trading volume, not even 10% of its market cap. it’s a complete joke!
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@CryptoInsider23
Geralt Davidson 🐺
8 months
A stable coin not available for U.S. persons, can you believe that? LOOK 👀👀👀 $USDM has one of the most unorthodox strategies in crypto space. Aside from not being available to U.S. it is also not registered under U.S. securities. But there's more...
@MountainUSDM
Mountain Protocol | USDM
8 months
Note: USDM is not available for U.S. persons. USDM has not been registered under the U.S. Securities Act of 1933. For more information about eligibility, please refer to our terms and conditions.
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Geralt Davidson 🐺
1 year
The recent LastPass breach incident tells us it’s crucial to have a complex password. There is no second chance once hacker brute force your password, better safe than sorry.☮️
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Geralt Davidson 🐺
2 years
Coinbase has removed all USDC trading pairs because of the merger of USD and USDC books. It sounds unlawful and unethical to do that. USDC and USD are different. USD is back 1:1 by fiat bank accounts held by Coinbase and USDC is a coin linked to USD backed by USDC reserve.
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@CryptoInsider23
Geralt Davidson 🐺
2 years
TELLIN YOU GUYS NO ONE USES USDC!!! They are just overpaying interest to get deposit
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Geralt Davidson 🐺
2 years
Looks like someone share the same concern about Circle. This article delves into the safeness of USDC reserves, the risk USDC holders face in the event of bankruptcy and if Jeremy is trustable with his past controversial.
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Geralt Davidson 🐺
1 year
The ultimate reverse indicator have spoken!! 😂
@MarioNawfal
Mario Nawfal
1 year
BREAKING: Jim Cramer urges investors to sell their crypto Finally!! Now I'm bullish!
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Geralt Davidson 🐺
1 year
Thanks to @Laurashin who did good job spotting scammers which gives you the early exit signal on fraudulent biz/projects. Your 💵 should not involve with anyone she interviews.😅☮️
@Pledditor
Pledditor
1 year
Hey @laurashin , I'm honestly convinced you are being used as a PR firm for fraudsters to boost/heal their reputations. All of these interviews were conducted since October lmao
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