Been thinking what can be the contagion for past few days, agree with @EvgenyGaevoy on most pts here. Also the reason why "Deribit extended a special line of credit to 3AC" is bc 3AC was their biggest share holder. This cycle cexs/pbs are NOT lending credits to even highly reputable firms, crypto credits are drained. and the total loan book of Galaxy+FalconX+ PB combined is <2B, quite minimal.

Continue to be pretty skeptical about “somebody blew up” rumors or at least skeptical about mid/long term impact of it. Maybe somebody blew up but there are simply no spillover effects for us to care
When 3AC blew up post terra everyone knew fairly soon because it spread via

wishful_cynic

Twitter

Bitcoin's price briefly touched $60,000 last week. Under a diminishing returns model, this is no mere noise. The market is touching the weakest link in the entire four-year cycle and logarithmic growth framework.

With the gains at the top of the Bitcoin cycle already significantly compressed, a further historically deep correction would completely negate the allure of its classic cycles.

This is not a prediction; it's a mathematical law.

Cycle Top Gains are Compressing

Historical Bitcoin Cycle Tops:

· 2013: ~$1,242

· 2017: ~$19,700

· 2021: ~...

$55,000 will be the lifeline for Bitcoin.

The U.S. Department of Justice (DOJ) has announced a 20-year prison sentence for Daren Li, 42, for his involvement in a global cryptocurrency investment scam. Notably, the sentence was...

The ringleader of a cryptocurrency scam worth approximately $74 million has been sentenced to 20 years in prison.

Bitcoin rose as much as 3.3% to $71,000 last night, following the performance of US stocks, but faced heavy selling pressure after the close, currently trading at $70,289. Ethereum briefly broke through […].
The article, titled "Bitcoin and US Stocks Surge to $71,000, Ethereum Fluctuates and Falls Back to $2,150, Bitmine BlockTempo the Opportunity to Buy the dips 80 Million ETH," was originally published on BlockTempo, the most influential ABMedia media.

Bitcoin surged to $71,000, mirroring the rise in US stocks, while Ethereum fluctuated and then fell back to $2,150. Bitmine buy the dips the opportunity to buy 80 million worth of ETH.

我是真不明白他那100万粉丝哪里来的？简直傻逼集中营啊。

I really don't understand where he got his 1 million followers? It's like a concentration camp of idiots.