?? BlackRock's stealing your Bitcoin!
GM Legends,
What a wild 24 hours it’s been as Bitcoin god candles to $30,800, Zucks vs Musk cage fight and Mr J Powell has publically said “crypto appears to have staying power” and “we do see stablecoins as a form of money.”
Ladies and gentlemen, could this be the start of the “we are so back” bull run?!
Today, let’s dig into whether or not tradfi is saving crypto or stealing our Bitcoin.
PS. We’ve just added the first LARP Pass Research paper to the referral program that’s hidden somewhere in this email. Refer 1 friend, get them to sign up and receive “LARP Research: A Tapioca DAO Bullcase.”
This is the TLDR version of The Ape Enclosure Newsletter. For more top-notch DeFi insights, news and Twitter reads hit that?Subscribe?button with haste!
Need to know.
The big story.
?? Did BlackRock just save Bitcoin?
DeFi insights.
?? Lybra Finance shares V2 assets
?? Vertex Protocols announce Wintermute Ventures as a strategic partner
?? GM degen podcast: BlackRock wants your BTC & the OP vs ARB debate
In the news.
???Zucks challenges Musk to a cage fight?
?? Gods Unchained joins Epic Games Store
???? ?? What the FED?! The FED becomes bullish on stablecoins
Plus?Twitter reads?from?@Crypto_McKenna,?@HsakaTrades?and?@zerototom!
?? The big story.
?? Did BlackRock just save Bitcoin?
Or did they FUD us out of our bags to buy the dip to launch their own crypto-related products?
A coincidence? I think not!
Wall Street made us paper hand our bags, liquidated traders and allowed the institutes to buy the dip all in preparation for a “miracle bull run” to potentially occur.
We’ve gone from “It’s so over” to “we are so back” as euphoria hits and the tradfi saviours swoon in to “make crypto great again.”
Meanwhile in the SEC tea room…
So how did we get here?
Long story short, the narrative has been to get rid of the unregulated crypto exchange criminals performing illegal activities and roll the red carpet for the Wall Street Giants.
Crypto prints and it’s time for them to get a slice of the pie.
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The turning point…
I wouldn't be surprised if we saw an announcement from Nasdaq soon.
And what does this actually mean?
It means PUMP my bags!
But be cautious as tradfi are now ready to take their slice of the pie because let’s be honest, would the largest asset manager really make a play like this if they weren’t at least 100% sure of its success?
Spot ETFs and exchanges will need to hold the underlying asset, Bitcoin, meaning they’ll need to be accumulating their bags at range lows so they don’t have a break-even price of $$29,803 as Michael Saylor’s Microstrategy does.
The BTC: Short Squeeze Ratio chart suggests that someone(s) has been loading up rather than Mr Market Maker hunting the liquidation zones.
And for once… it isn’t Saylor or El Salvador buying the dip of the dip.
If history is a sign of the future, $GLD has albeit slow-mooned since listing on the NYSE. Could Balaji’s Bitcoin to $1,000,000 prediction finally be on the cards? Probably not but it’s fun to speculate.
EDX Markets is here to put the “TRUST” back into crypto, for institutes at least, giving them a safe “regulator-friendly” environment to trade crypto assets.
Essentially EDX Markets becomes the non-custodial platform for tradfi to buy and sell crypto assets without having to worry about the debacle that occurred when FTX tried to do too many things at once.
Bitcoin, Ethereum, Litecoin and Bitcoin Cash will feature first on the platform…
“... because until there is more regulatory clarity, we don’t want to trade something that’s potentially a security,” EDX CEO, Nazarali said in April. “Regulators really like that we don’t take that risk.”
Wait… Gary… isn’t Ethereum a security? Hmmmm
Ahhh I see what's happening here, it’s all good news for us normies, right?
For your current crypto bags, maybe… but it would put the most popular coins into the control of those that the decentralisation movement was supposed to be moving away from. BlackRock managed $10 trillion in assets and, in theory, market buy ALL the Bitcoin that's left on exchanges today.
Yeah, the most powerful fund could control Satoshi's vision and his Bitcoin.
EDX Markets is here to make MURRRICA great again by solving the issue created by the criminally operated current crypto exchanges on US soil (I say this tongue in cheek btw!)
Our take.
Like anything, there's good, there's evil and then there’s the game of whales which appears to be as momentum shifts towards tradfi as this is a free money trade for them.
Yea, this brings tradfi in to buy our bags, but not necessarily the normies. Normies will buy and invest in the ETFs via tradfi routes, NOT by UniSwap, Binance or Coinbase.
What this may allow for is to give confidence back into the normies who came, got rekt and left. The pain of the last bull run rekt’age is slowly fading as investment accounts and cash under the bed have been replenished ready to gamble on that next 100x.
That being said… are stable coins next on the SEC’s firing line?
This is the TLDR version of The Ape Enclosure Newsletter. For more top-notch DeFi insights, news and Twitter reads hit that?Subscribe?button with haste!
Disclaimer: None of what has been stated in past, present or future newsletters should NEVER be considered financial advice. This is just for entertainment purposes only and always do your own research.?