BlackRock & The Great Reset (Part 3) ( courtesy u/Exceedingly )

*** All work below belongs to u/Exceedingly via r/Superstonk ***

Welcome back. If you're still with me after reading Part 1 & Part 2 then well done, you've got some serious stamina. We're nearly there now.

RECAP

(You've probably learned by now I'm useless at short TLDRs) In Part 2 I looked at how Fidelity might have caused the Jan squeezes in 21 stocks by recalling these shares after they had been lent out for years. This would have been possible if Shitadel had rehypothecated Fidelity's shares many times over, meaning those shares were propping up a tower of phantom shares far greater than their face value. The stocks which squeezed the most in Jan were the ones that had previously undergone stock buybacks or had low total outstanding shares to start with, which makes sense as both of these things hurt short sellers. GME had undergone the biggest stock buyback out of them all, so this stock seems to have been setup to hurt short sellers the most. I carried on looking at share lending and theorized that the margin call Melvin Securities received in Jan was from companies like BlackRock & Vanguard who still had millions of GME lent out, this could also explain why the margin call was reduced; BlackRock works closely with the Fed and therefore probably with the DTCC too, so the DTCC could have persuaded BlackRock to lower their demands. I looked at BlackRock's share lending brochure and saw they were possibly the only share lender willing to accept UST bonds as collateral, and this would have given Shitadel & Co a cheap way to start shorting stock as Shitadel owns Palafox Trading which deals with UST bonds (please reading /u/Atobitt's 'The Everything Short' for more info on this). I went on to see how BlackRock did not buy many puts during the 2020 crash unlike previous rocky periods and BlackRock went on to sell $ hundreds of billions worth of stock during the 2020 crash, only to buy most of this right back a few weeks later. Both of these points suggest to me BlackRock helped dip the markets so there would be a need for emergency action, and this led to the SLR rule being relaxed, making it easier for banks to spend during the pandemic. This measure should have been used to prop up a suffering economy, but it seems the banks instead used it to further Shitadel's shorting efforts. To me this all started to seem like BlackRock had a long term plan to allow the markets to implode, but why would Larry Fink want this to happen? We'll look at that below.

1. THE GREAT RESET

• The Great Reset is a term that started getting flung around during the pandemic, it's the idea of building back better after the covid crisis with the goal of net-zero carbon emissions being a big part of this. We're probably all used to these kinds of ideas being thrown around without much action backing it up, but to me this seems different, there could actually be a serious plan in motion to trigger this reset and it seems BlackRock is a key player in it. Articles like this suggest that BlackRock is somehow fueling a transfer of wealth worth $120 trillion to pump that money into sustainable companies:

Big money is turning its back on companies that aren’t conforming to one simple idea, Sustainability. And it’s fueling one of the biggest transfers of capital the world has ever seen. In fact, within a year, 77% of institutional investors will stop buying into companies that aren’t, in some way, sustainable. And the new King of Wall Street is leading the charge. BlackRock, with over $7 trillion in assets under management, says its clients will double their ESG investments in just five years.

• I don't know specifically how this redistribution of wealth is planning to work, this article links off that one above and says:

Already, more than 3,100 investors with $110 trillion in assets under management have signed on to the Principles for Responsible Investment, which supports its signatories in incorporating ESG factors into their investment and ownership decisions

• A key term in all of this discussion is ESG which stands for Environmental, Societal and Governance and these factors are used to measure non-financial issues like pollution, deforestation, gender and diversity policies, human rights, customer satisfaction, bribery and corruption, lobbying, executive compensation and many more points showing how "good" companies are at their core. If $120 trillion gets moved from low performing ESG companies to high ones, that's a positive step that we should all be able to get behind.
• Larry Fink has been pushing hard for CEOs to release ESG data on their companies, this year he sent this letter to CEOs, there's a lot to unpack from that letter, here's some key bits:

Issues Discussed• There needs to be more focus on long term investment strategies with a big focus on climate change.• Fink says, "The pandemic has also accelerated deeper trends, from the growing retirement crisis to systemic inequalities" and suggests these need to be addressed• Transitioning to net zero across the board will demand a transformation of the entire economy.• Investors want to invest in ESG companies but they need better information to show which companies are good for sustainability, BlackRock is committed to accelerate their data and analysis capabilities in this area.• Companies need to disclose a plan for how their business model will be compatible with a net zero economy• A standard reporting framework should be used, which will enable investors to make more informed decisions• BlackRock is already carbon neutral in their operations and are committed to supporting the goal of net zero greenhouse gas emissions by 2050 or sooner.

• Larry Fink is not the only person pushing hard for ESG data to be released, Gary Gensler of the SEC is looking into these issues too, trying to assess what information is needed from companies to confirm they comply with ESG standards. There have also been various SEC meetings about climate change recently which are undoubtedly talking about issues like this. I can imagine Larry Fink is working closely with the SEC on this.
• Furthermore, BlackRock has recently changed their Aladdin system to include a climate module to help track which companies are doing well on combating climate issues. To me this reiterates that BlackRock is taking this issue seriously.
• This article talks about moving towards net-zero carbon emissions and has a quote from Fink that I like:

"One of the most beautiful things about finance is that if finance understands a problem, that problem is brought forward. We are seeing asset owners moving more capital into more sustainable products and investments."

• To me that shows big money is finally taking this issue seriously. If there's a plan in motion to transfer trillions of dollars to sustainable companies, surely the US government would be commenting on this too? But no, they seem very quiet on this front. Many articles are saying they're waiting for action from the current government, with barely anything being done towards this so far. But this article says that last year John Kerry (currently serving as the first United States Special Presidential Envoy for Climate) firmly declared that the government will support the Great Reset and that the Great Reset "will happen with greater speed and with greater intensity than a lot of people might imagine"
• I may be getting too tinfoil again, but surely you can see how that could be seen as a reference to the MOASS? i.e. The government knows the markets are fucked so they let the MOASS happen, we all get our tendies (happy days) then there's a lot of rebuilding to do, they start by pumping a load of money into ESG companies and get the ball rolling. Articles like this show how BlackRock is threatening to pull money out of the worst polluting companies, I believe that the MOASS will be the perfect time and excuse for BlackRock to pull money out of these companies. Plus there's one extra level of support for ESG investment: us. We apes know how important climate change is, I've seen dozens if not hundreds of posts on Superstonk talking about all the good we can do post MOASS, well if we have money to spare and feel like investing, I think high scoring ESG companies will be a way to go. We could start making a real difference for this cause.
• There has been a lot of contention around the idea of BlackRock having people inside the current government such as this post by /u/--GrinAndBearIt-- and various other posts, and many users suggest this is a reason we should not trust BlackRock, but I come to the exact opposite conclusion. BlackRock seems to have helped set up the conditions for the MOASS and want it to happen so that there can be a radical shift towards ESG investment, the MOASS will be the perfect time for them to drop bad-ESG companies and pump that money into good-ESG companies. BlackRock working closely with the government on this is crucial to making sure it all works properly. We're talking about purposefully crashing and resetting the largest market on the planet, I definitely would not want BlackRock going rogue and doing this off their own back, knowing that they're working closely with the current government helps settle my mind that this is probably being controlled so it doesn't lead to all out catastrophe. Larry Fink is also a massive democrat and BlackRock has contributed a lot towards their party, suggesting he supports their goals and ideas. I'm going to be blunt here and say that if anyone thinks BlackRock is bad simply because of their connections to the current government, then they simply do not see the bigger picture of events happening right now.
• Now what if I told you that a massive shift towards ESG investment was not even the biggest change that Wall Street has planned? What if I told you there has been a plan for years for the DTCC to shift the entire stock market onto an entirely new digital system? I hope that has you interested because we'll explore this in the next section.

SUMMARY: The Great Reset is a term for the idea of building back better after the covid crisis. BlackRock is all for this idea and Larry Fink has been pushing for CEOs to release ESG data to show how good companies are for the environment, society and the country as a whole. The SEC is also pushing for this data to be released, so these 2 entities have similar goals it seems. I believe BlackRock has enabled the conditions for the MOASS so the markets will implode on themselves so they will need to be rebuilt, with sustainability in mind. The current government seems to want this end too and John Kerry reportedly said "the Great Reset will happen with greater speed and with greater intensity than a lot of people might imagine". I personally believe BlackRock working closely with the US government on these issues is a good thing, because it shows how they're all working together to remove corruption from the US economy. I finished by saying that the DTCC had other big plans to help remove corruption and we'll look at that below.

1. CRYPTO MARKETS

• The DTCC has 2 ongoing projects called Project ION and Project Whitney, both of these are looking at digitizing assets to be traded on a blockchain system, specifically on Ethereum. Sound familiar? I genuinely thought that this idea had been missed by Reddit, but shoutout to /u/BarTPL0 who caught it in this post.
• It seems Project Whitney is focussing on the digitization of securities (for example digitizing GME shares) and Project ION is more focused on improving the trading settlement cycle through blockchain technology.

Project Ion explores new and alternative settlement models, leveraging the digitization of cash and re-representation of securities, and assesses a potential new accelerated settlement service option

• Disclaimer time, I do have a bachelors degree in Software Engineering, but when I try and explain crypto to anyone I just end up looking like this so I'm just going to give a very high level overview of these and cover some of the benefits, rather than delving into the specifics of how they will function. If any wrinkly brained apes want to dedicate an entire post to Projects Ion & Whitney, I'm sure a lot of people here would appreciate that.
• The current stock market is built up of layers and layers of entities all talking to each other in order to transfer money from buyers to sellers. The current settlement time for stock trades is T+2, meaning traders have the current day plus 2 days to settle any buy or sell orders. A crypto stock market is capable of turning this into T+0 meaning trades could get settled on the day they're made, that sounds much more efficient right? Crypto markets also eliminate the need for stock brokers, as availability of stock is all visible on the blockchain, which is simply a ledger of trades showing which assets currently sit where and which ones can be bought or sold. This crypto style market would centralize all data for a particular stock where that information is available for everyone to see, while also decentralizing control of that data meaning no one entity can control or corrupt it.
• If you don't know how blockchain works here's a very simplified analogy (please skip if you already know). Think of a blockchain like a single Excel file that is stored on millions of different computers (called nodes). No one person owns that file and to change anything on it, it has to be agreed by all nodes that the change is a valid request and has the correct encryption keys. Once the change is authorized, the Excel file (aka blockchain) has the amendment made on it and all nodes then update to reflect the change. The Excel file has every trade ever made stored on it, which is why these get called ledgers. You can't simply just write anything on the blockchain file, you need the correct encryption keys to do so, and this means it's protected from malicious entities. If someone owned 1 Eth, that section of the blockchain belongs to them forever, until they decide to sell it - no one else can just come along and write over it. The underlying file for Ethereum is currently 300GB in size, and this only contains text data so that shows you how much data is stored there. It's mainly a load of encryption strings that you wouldn't be able to read, Ethereum uses Keccak-256 encryption which you can read about on Wikipedia (that might help you out if you have trouble sleeping if nothing else).
• Shitadel has done a fantastic job this year of showcasing how susceptible the current market is to corruption. The T+2 settlement time means that any trade that fails to settle within 3 days should be marked as a "failed to deliver" (FTD), but through the magic of malicious fuckery they've been able to reset that clock so some trades are likely now T+21, T+35 or much bigger. On the topic of GME, an FTD simply means that Shitadel failed to get you a real GME share within 3 days. Ultimately if they can't find you a real GME share, they're obligated to buy the pledge back off you, but they're forced to buy this back at whatever price you set. I'm not getting into price floors or any of that stuff, but you need to understand you're in a very powerful bargaining position here. Shitadel has turned the stock market into a joke, and the T+2 settlement time wasn't even efficient to start with. This fully highlights why a new and much more efficient system is needed.
• Michael Bodson of the DTCC gave this interview which touches on the new blockchain plans, in that he says a problem of switching to a new blockchain system is the difficulty of turning off legacy systems and adopting the new one. Interestingly Bodson points out how a new DLT system would likely put the DTCC out of business:

Bodson: The way Wall Street created its post trade infrastructure just means that once a trade is executed you have the whole process of clearing and settlement. The change of ownership the record keeping has to go on, it's a series of databases. We have a big golden copy but every firm has a database to have a trading database. They have an operations database they have a credit database so you have all these reconciliations that are happening all over the place with the same basic information used for different purposes. And there's no one centralized, agreed upon view of what that data says or what those transactions are what the positions are, etc etc. If you could actually just have one. Just think about the amount of work you could take out instead of doing replication of work over and over and over again. We just create massive efficiencies.

• That interview touches on another point Bodson says in this article (boo paywall):

It takes a certain level of confidence to be optimistic about your own demise. Mike Bodson has it down to an art form. The chief executive of the Depository Trust and Clearing Corporation (DTCC) is convinced, it seems, that distributed-ledger technology (DLT) will spell the end of the DTCC as the industry knows it. “From where we sit, we were created because you need a golden copy of trade records. We’re going to disappear."

• It does seem Bodson has resigned himself to the fate that the DTCC will eventually become extinct, but I doubt this will happen any time soon. While any company chooses to trade on the current system, there's a need for the DTCC. But let's say the MOASS causes nearly every business in the US to become furious with Shitadel and how they were able to game the system for their own ends, that would surely encourage a lot of businesses to adopt the new DLT system.
• Articles like this seem to suggest that the current plan is to get a crypto market system with a T+1 cycle, but even that is a big improvement which could be further improved upon in the future. That article is dated Feb this year and it says "The Depository Trust and Clearing Corporation is close to completing work on a prototytpe settlement system based on distributed ledger technology, which could act as the precursor to a US move to a T+1 settlement cycle."
• So this system wasn't ready as of Feb 2021, but they must be very close to completion now. I would hazard a guess that the timing of the MOASS and the readiness of a crypto stock market system will go hand-in-hand, and the MOASS is being suppressed while the finishing touches are put on this. User /u/SamBradfordSuperFan recently wrote this post explaining elements of Gamestop's crypto token and how there's a need to wait for an Ethereum update, EIP 1559:

It addresses one of the critical flaws in current ETH transactions, where transactions can get stalled and not complete in a timely manner if GAS fees are high, making the process more complex and uncertain and sometimes require user intervention, which has contributed to the slow mainstream adoption of ETH for ecommerce type applications

• The DTCC's papers include this timeline which suggests the blockchain system was meant to be ready in 2020, I consider it likely that the DTCC are waiting on this EIP 1559 protocol update as well as they are using the Ethereum network too. Regarding the MOASS being suppressed, remember it's probably companies like BlackRock and Vanguard who do the margin calling, and they can stall this as long as they want.
• Speaking of BlackRock, Larry Fink used to be famously against crypto saying that Bitcoin was an "index of money laundering", but he's changed his tune on this saying that Bitcoin will be as important as the gold market in the future. In April 2019, BlackRock hired former Ripple executive Robbie Mitchnick to lead its digital assets area and as of last Christmas they were looking to hire a blockchain lead, where the role is to make investments in digital assets and blockchain firms.
• The president also wanted Michael Barr, who was on Ripple's board of advisors, to be the head of the OCC. Apparently articles like this say that never came about, but crypto experts do seem to be getting pushed into top positions everywhere. There are clearly plans in motion for all of this.
• Now I want to talk about Gary Gensler. I'm honestly very disappointed in a lot of you who have given him a hard time on Superstonk, I'm gonna say this as politely as I can; can we all please chill the fuck out with the same asinine Gary Gensler memes getting posted over and over; "dear SEC, please do your job", "it's only his 12th week on the job", "he finally found the power switch for his PC" etc. Gensler is an expert in crypto, he's taught it at MIT so he's clearly an industry expert on this stuff. He was brought on at the time the DTCC's crypto system was supposed to be ready, so he's clearly here for the purpose of helping to introduce and police a new crypto stock market system which will undoubtedly include digitized GME assets, you know - that stock you like. Please just show a modicum of dignity and respect for this man, because he's clearly here to help you, not hurt you. /rant over
• Gensler was brought on to replace Jay Clayton) who was the previous president's man. Chairs of the SEC are meant to serve 5 year terms, and Clayton only served 3 years before he resigned. Gensler replaced him and there was a possibility that Gensler might have only been brought on to complete Clayton's remaining 2 years, but Gensler got a brand new term of 5 years. To me that says the government really wants him here and he's here for a purpose. I believe that purpose is to introduce the US to a crypto market system.
• Speaking of Jay Clayton, he was made chair of the SEC by the previous president and on this appointment the president said "we need to undo many regulations which have stifled investment in American businesses". Back in 2017 when the previous president was inaugurated he was very friendly with Ken Griffin and I'd wager these two definitely had some business between them. If you look at Shitadel's revenue by year do you see that giant leap between 2017 and 2018? I would honestly put some of that down to whatever support the previous president via the SEC was giving Shitadel. Plus this would have been perfect time to start some new big shorting plan (cough GME) where Shitadel had the support of the president and could help get various regulations changed or removed. I don't have the wrinkles to look into all this too much, but others can if they want.
• This article says that there are currently 45 countries working on CBDCs (central bank digital currencies), and yes the Fed is working on a Digital Dollar. This will likely be something Project Whitney will be looking at. I don't have the energy left to dig into this too much, so if anyone else wants to be my guest. One other point I will say here though is that I don't expect a blockchain based stock market to instantly eliminate all problems we have with the current system, we've all seen how Shitadel is somehow manipulating certain crypto currencies for their own gain. I'm sure they'll find some way to abuse digital stocks too, but in theory this should remove a lot of the current problems.
• I honestly don't know what Gamestop's immediate crypto announcement will be, but ultimately they're likely to trade their stock on this new DLT (distributed ledger technology) system. Articles like this share this idea, that Gamestop is working towards digitizing the stock market, check this out:

Imagine a world where you could buy stocks, bonds, derivatives, cryptocurrencies or even pieces of art, all on one exchange, 24 hours a day, seven days a week, from anywhere in the world.

On this exchange, trades occur directly between two investors instead of through a complex latticework of brokers, clearinghouses and other middlemen and gatekeepers. They settle, or close, almost instantly, instead of taking up to two days. The system is cheaper, more transparent and ostensibly more open.

• Sounds pretty good, right? The article goes on to say how a company called Blockchain.com has already built the infrastructure needed. Founded in 2011, that company attempted to grow but was stymied because the existing financial industry wouldn’t extend basic services to crypto companies. Blockchain.com had to go on to build the services themselves and today they offer trading, custody, clearing and settlement services to retail and institutional clients trading crypto. The company can now replicate every service in the traditional capital markets. So this technology isn't exactly new, but it received push back from the existing markets in the past. It almost seems like we need a big market crash so everyone can start understanding the need for this...
• I'm gonna finish this section by saying BE PATIENT. The DTCC are working on this new system, Gamestop might be working with them, Gensler is likely on the sidelines getting ready to introduce this new system. Plans are in motion and getting impatient about all of this does no one any good. Show mayoman Ken that your hands are made of the toughest diamond around and that you can wait patiently to bring his empire crashing down.

SUMMARY: The DTCC have been working on Projects ION and Whitney since 2015, which aim to bring about a new blockchain based stock market. Shitadel have done an amazing job showing how the current system can be abused and why change is needed. As of Feb this year, the DTCC's new system was not ready, and I think the date of the MOASS might be linked to the completion date of this system. Gary Gensler was obviously brought on to help manage this new crypto system, as he's a crypto expert who has taught this subject at MIT. Larry Fink softened towards crypto in recent years so I believe he would be in favor of a DLT (distributed ledger technology) market. The Fed is also looking into making their own CBDC (central bank digital currency) which I think will get called the Digital Dollar, and this is likely tied in to this new blockchain system. Gamestop's crypto announcement could well be linked to the DTCC's new system, I very much encourage other apes to dig into this stuff. Final message is BE PATIENT and trust your tendies are coming.

1. Negative Sentiment

• I firmly believe that there has been a big FUD campaign against BlackRock for at least the past year, similar to the one we've seen with Gamestop. Ironically, I wouldn't have spotted this if it wasn't for the Gamestop FUD, that's definitely helped open my eyes and shown me you need to question even large MSM companies. How many times have you seen someone on Superstonk posting about the evils of BlackRock and how they're buying up every property in sight or how they're massive supporters of polluting companies because they've held large stakes in oil companies or how their influence is dangerous and you shouldn't trust them? What if I told you most of this is all FUD made by twitter accounts like CulturalHusbandry and other shill accounts?
• Look at this post on Superstonk, it's a screenshot of a Tweet with no evidence to back it up yet it got over 5k votes. I'm going to address the housing issue right now. BlackRock's real estate portfolio is tiny compared to other companies:

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https://preview.redd.it/q4lhispg0bc71.png?width=668&format=png&auto=webp&s=9aa705c44e13990a2203141774d10942f0cee91b

• My point here is that there are there are other companies who have far bigger real estate portfolios than BlackRock, and due to BlackRock's immense AUM their amount is going to be a far smaller % proportionally. Articles like this one and this one show that the idea of BlackRock buying every property simply isn't true, or at least it's greatly exaggerated.
• And it's not just the housing issue, every time BlackRock has an article saying something positive they're doing, two more will get released arguing the point and saying how BlackRock are hypocrites. Fink wrote letter to CEOs in 2019 saying climate change is an important issue that they need to take seriously, and then articles like this popped up saying how BlackRock are the biggest investors in fossil fuel and that they should practice what they preach.
• Regarding BlackRock holding shares in polluting companies, Larry Fink likes to exercise his right to vote against company directors. This article says: "BlackRock announced in its annual investment stewardship report that it cast more than 5,100 votes against company directors in the past 12 months to hold management to account for failing to make headway on a range of issues, from environmental goals and corporate strategy to board diversity. This was 300 more than in the previous year". This clearly shows a reason why Fink would hold stock with poor performing ESG companies, he likes to try and sway their decision making to become better. Fink often speaks out against companies for reasons like pollution, sexism, racism etc.
• I've been reading through some of the drivel on that CulturalHusbandry twitter account, and holy fuck I'm starting to think this is Ken Griffin behind that account. They're deeply against the current government, BlackRock and the idea of the 'Great Reset'. Seriously they wrote this whole article on why the Great Reset is just a scam and how the tax payer will foot the bill and how BlackRock can't be trusted. This person clearly has an axe to grind with BlackRock and they've been spewing this BS for so long that even Reddit users are picking up on it and retweeting it. My only ask here is that you do the same as you've done with Gamestop and do your own double down due diligence. You're a smart ape capable of googling as well as anyone, please don't take anything you read at face value anymore (this post included, research yourself!)
• The idea of 'The Great Reset' has also received FUD, this UK BBC article shows how it went viral on Facebook last November and became a conspiracy theory. Apparently Canada's Trudeau gave a speech saying the pandemic provided an opportunity for a "reset", and that article goes on to say:

"but some claimed his speech was proof that global leaders were using the pandemic as a pretext to introduce a range of socialist and environmental policies. Thousands of [previous president] supporters boosted this idea. They claimed that that a victory for [the previous president] in November's election was the only chance to thwart the so-called secret plot."

• I don't mean this to get political at all, I'm just showing how these ideas got spread and how the idea of the Great Reset started looking like a conspiracy. I can easily imagine that Shitadel & Co's MSM connections helped spread negative messages about this.
• I nearly didn't include this point as it may come across as controversial, but earlier this year (January 26 2021 to be precise) Larry Fink sent that letter out to hundreds of CEOs with the theme of ESG and sustainability, a part of his letter touches on racism and other discrimination in the workplace. Well literally just 6 days later an ex-BlackRock employee, Essma Bengabsia, wrote this piece on how she suffered from Islamophobia, racism, sexism and general harassment while she worked at BlackRock from July 2018 to May 2019. It's a very well written account and the points she raises are horrible to read. You need to understand that I believe her story 100%, I've worked as a manager in 2 major banks and I've seen this kind of discrimination first hand and have had to discipline people for it, so I can fully accept this kind of thing happens in giant companies like BlackRock too. These issues are rampant and need to be taken seriously, so I trust Essma and she comes across well, but consider this: she sat on this story for 2 years and then released this within a week of Larry Fink preaching about weeding out racism and other discrimination. It could just be a coincidence that she chose to publish this right after Fink's letter. In her piece she says "I wrote this shortly after I left BlackRock in 2019 but delayed publishing due to my own hesitation", so fair enough. I fully understand that going through traumatic events like that can take a long time to process and deal with, and you'll especially need to be in the right mindset to release a story like that to the world.
• But is it not a possibility that she had previously gone to news stations with her story, they accepted it but told her to wait publishing it until a time that fit their agenda? Within 4 days her petition had thousands of signatures and had been picked up by Businessinsider.com. One of the authors of that article was Rebecca Ungarino who was a previous producer at CNBC and we all know CNBC is a fair and unbiased company /s. I dont know, maybe I'm coming across too tin foil hat right now but the timing of this just smells off to me.
• Either way, google BlackRock and you'll get a mixed bag of positive and negative messages just like with Gamestop and I don't think that's a coincidence. If Shitadel & Co know BlackRock has worked against them to cause the MOASS, then of course they'd be pissed off and would disparage BlackRock every chance they got. As DFV said in his original Gamestop thesis, "The negative sentiment is just so overdone". Please please please do your own research going forward and don't fall into the FUD traps.

SUMMARY: Just like with Gamestop, there seems to have been a FUD campaign against BlackRock. Everytime something good comes out about them, you'll see just as many articles saying something negative and why you shouldn't trust them. My theory is that Shitadel & Co know that BlackRock has been working against them and now they're using the same tactics as they're doing with Gamestop. My request to you here is to not take everything you read at face value and do your own research. I'm not telling you to blindly trust BlackRock, but I'm saying they might not be the monsters you think they are if you've bought into the FUD campaign. As DFV said, "The negative sentiment is overdone". Always do you own research.

1. Conclusion

• I don't know about you but I feel like we've been on a journey together. I really hope I've helped open your eyes to some new information and maybe some of you can even go on to research further things from this post. I believe Gamestop is a unique situation that didn't happen by random chance. I think there have been moves made over at least the last 4 years to turn it into a ticking time bomb that can be used to bring down the entire global economic system, which will clear a path for a new wave of ESG investment and advancements into a new blockchain based system. I don't know when the MOASS will happen, but my personal opinion is that it's being delayed until the crypto based markets in the background are finished so there can be a smooth transition from our current messed up system to the new one. I do honestly believe 100% that the DTCC, the SEC and massive companies like BlackRock want the MOASS to happen because it will give the perfect opportunity for the new systems to come in.
• Apes, I believe we're a part of the latest global revolution and you are a key part of this. Your diamond hands are bringing about change and could well be helping to save the Earth by bringing about an age of ESG investment. Even if I'm wrong about everything in this post and my speculation is way off the mark, ESG is still going to be a massively important issue and if you choose to invest post MOASS I encourage you to do so with ESG and sustainability in mind.

Thank you for reading.

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Crypto Daily News from ZBG Exchange

1. Market Wrap: Sentiment Away From Risk Sends Bitcoin Toward $30K

Bitcoin is at risk of breaking its $30K support level.

Bitcoin traded lower on Monday, mirroring declines in traditional markets as investors pull away from risky assets because of concerns about weaker monetary and fiscal stimulus and rising COVID-19 cases, including those caused by the Delta variant.
Bitcoin was trading at around $30,600 at press time and is down about 3% over the past 24 hours. The world’s largest cryptocurrency is up about 4% year to date, compared with a roughly 12% return for the S&P 500 Index.

Latest prices

Cryptocurrencies:
Bitcoin (BTC) $30755.8, -2.78%
Ether (ETH) $1825.6, -3.96%
Traditional markets:
S&P 500: 4258.7, -1.58%
Gold: $1811, -0.05%
10-year Treasury yield closed at 1.2%, compared with 1.294% on Friday
Macro and regulatory headwinds
Regulatory scrutiny regarding stablecoins is also weighing on cryptocurrencies. The People’s Bank of China (PBOC) issued a white paper on Friday outlining initial research for the nation’s digital currency project, which appears to challenge existing cryptocurrencies and stablecoins.

2. Presidential Advisory Group Promises Stablecoin Recommendations

The Treasury Department didn’t lay out a timeline for when it will publish its recommendations on stablecoin regulation.

The President’s Working Group for Financial Markets, a presidential advisory group, plans to issue recommendations about stablecoin regulations within the next few months, it announced Monday.
According to a readout published by the U.S. Treasury Department, the highly anticipated meeting examined stablecoin growth, use cases and possible threats. The meeting was first announced on Friday, capping off a recent rise in attention on stablecoins and their role in the cryptocurrency economy.
“The group also heard a presentation from Treasury staff on the preparation of a report on stablecoins, which would discuss their potential benefits and risks, the current U.S. regulatory framework, and the development of recommendations for addressing any regulatory gaps,” the readout said.

3. US Senators Ask Team USA to Boycott China’s Digital Yuan at 2022 Olympics

“We cannot allow America’s athletes to be used as a trojan horse to increase the Chinese Communist Party’s ability to spy on the United States,” said Senator Cynthia Lummis.

Three Senators are calling on the U.S. national team to effectively boycott China’s digital currency at the 2022 Winter Olympics in Beijing.
Athletes should be forbidden from “receiving or using digital yuan during the Beijing Olympics,” Republicans Marsha Blackburn, Cynthia Lummis and Roger Wicker said in a Monday letter to the U.S. Olympic Committee leadership, citing privacy concerns.
“We cannot allow America’s athletes to be used as a trojan horse to increase the Chinese Communist Party’s ability to spy on the United States,” Lummis told us.
The boycott call amounts to an early salvo in the digital currency arms race, and a poignant one, given its proximity to the 2020 summer games. Tokyo’s year-delayed event is set to begin later this week.
China, which in February 2022 will host the winter games, is in the midst of debuting its e-CNY digital currency, by far the most advanced central bank digital currency (CBDC) project in the world. Last week the People’s Bank of China confirmed travelers will be allowed to open digital wallets while visiting the country.

4. Ripple Cites SEC Commissioners’ Remarks to Support Dismissal of Case

Lawyers for Brad Garlinghouse and Christian Larsen highlighted the commissioners’ criticism of an unrelated settlement that cited uncertainty about which tokens are considered securities.

Ripple lawyers submitted a supplemental letter Monday to support their request for dismissal of an ongoing Securities and Exchange Commission case against them.
The document notes a July 14 statement by SEC commissioners Hester Peirce and Elad Roisman opposing the agency’s enforcement action against Blotics, the operator of the once-popular cryptocurrency website Coinschedule.
The lawyers representing Ripple CEO Brad Garlinghouse and co-founder Chris Larsen highlighted the commissioners’ criticism that the enforcement action against Coinschedule did not pinpoint which tokens the site promoted were securities, as well as wider uncertainty about how tokens are defined.
“The Public Statement confirms the Individual Defendants’ arguments that there was (and remains) significant regulatory uncertainty regarding when digital assets may be classified as securities by the SEC,” the Ripple lawyers wrote in their filing.
The lawyers added: “The SEC’s aiding and abetting claim requires that ‘it show that the Individual Defendants knew or recklessly disregarded that Ripple’s offerings and sales of XRP required registration as securities and that those transactions were improper.’”

5. Everything Moves Fast in DeFi, Even Political Action

The controversial DeFi Education Fund will pay off for the whole industry.

In a few years’ time, the crypto world is going to look back on the DeFi Education Fund as money well spent.
Last week, controversy broke out when the new advocacy group sold about $10 million in UNI (-5.83%) tokens for USDC (-0.01%) so that it would have ready cash to get off the ground. The news was cast in a particularly bad light when one member of the organization’s new governing committee made a sale of UNI right around the same time the trade was going through.
I have it on pretty good authority that while it might be bad optically (it definitely was bad optically), it was a harmless trade. Time will tell, I suppose, but even if it was a malicious trade, that doesn’t mean the DeFi Education Fund (DEF) isn’t a good idea at its core.
The Defiant did a solid job reporting on why people felt weird about this vote. Uniswap governance, it should be noted, makes it particularly hard to get anything passed. This was only the fifth measure to rally enough tokens for a final vote and just the third successful measure since Uniswap introduced decentralized governance in September.
The proposal to create DEF passed largely with the support of very big UNI holders, deep-pocketed investors. It didn’t feel grassroots.
But let’s be honest about the core reason folks hated this grant: No one likes a big sale on a token they are holding. Investors in crypto have an especially short-term view of their favorite assets, probably because news and trades have a way of hitting their charts so fast and hard. Big sales are betrayals.
And the asset price was down 25% from the start of the week on Friday, but still up 100% from the start of the year. I know it hurt. No one likes a pinch in the smart wallet, but the objections are, in my mind, a bit myopic.
Decentralized finance is an industry that threatens the massive money spigots that run the whole world. Its potential to shake up how value moves globally is too big; folks can only guess at how far it might go, even its builders.
This is becoming disconcerting to the powers that be. They aren’t going to bother with learning how blockchains work to try to build competing technologies. No, the powers that be, both the state and the financial industry, will use the levers of power they know well: the law and regulations. And, of course, the law is built upon the state’s martial power.

​

https://preview.redd.it/st4qii0naac71.png?width=1457&format=png&auto=webp&s=54a3c19ad39a113b9e4185a347978b10a44ec9e5

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July 20, 2021

KOK Shopping Mall, ‘Staycation Essentials’ Event

KOK Shopping Mall, ‘Staycation Essentials’ Event

https://kokfoundation01.medium.com/kok-shopping-mall-staycation-essentials-event-c53d4448d78d

#KOK #KOK_Play #KOK_Token #KOK_Coin #ZBG #Bithumb_Global #Blockchain #ERC20 #Bitcoin #Cryptocurrency #Digital_contents_platform #decentralization

[WTS] $29 per ozt Hand Pours...WTF!? Yup...

Verification https://imgur.com/1wviEpF

Details below, please let me know if you see any errors. If the price seems too good to be true, it’s a mistake and if it seems too high let me know. I tried to price based on recent sales and current online listings. Some prices are negotiable so make me a reasonable offer if you are interested. Seriously, tell me (nicely and with a reason) if my prices are too high

*In some instances close up videos are previously sold items, but the mold is the same – there may be some slight variation in the appearance

*WTB/WTT - Also I am specifically looking for these South East Refining Rounds in to buy or trade

Discipline Equals Freedom Fourth Of July Second Release - In celebration of Fourth of July and the Freedoms we enjoy in this country it is important to remember that discipline in your daily life is the only way to achieve true freedom in life and this cannot be given.

Low Premium $29 per ozt - If all of these sell I will add more to the listing.

(3) 5 ozt JSB Bars - $145 each

(11) 10 ozt JSB Bars - $290 each https://imgur.com/vnd762f

DEF 002 thru 010 - $70 Each

Available - DEF 002 - DEF 003 - DEF 004 - DEF 005 - DEF 006 - DEF 007 - DEF 009 - DEF 010

https://imgur.com/yeRDOZs - JSB Subtle Ripples Bar - 9.62 ozt - $320

https://imgur.com/1dnjAKy - JSB Hammered Milled Fractional - 1/3 ozt - $16

https://imgur.com/Eo8BGPa - JSB Milled Fractional - 1/3 ozt - $15 (reference #1 when asking to buy)

https://imgur.com/MbwSslG - JSB Milled Fractional - 1/3 ozt - $15 (reference #2 when asking to buy)

https://imgur.com/yxxXMrb - JSB Milled Fractional - 1/2 ozt - $25

Cast Items

2.3 ozt "Admit One" Silverbugs Silver Square Prototype - https://imgur.com/EWnw83W - $80

2.69 ozt - JSB "Slightly Used" Axe - $115 (old close up video)

2.7 ozt Foxhound Badge "P" Prototype - https://imgur.com/1amE2kb - $115

https://imgur.com/VJ6mB21 - 28/29 gram Enameled Lightsabers

https://imgur.com/uXcgmeP - Grey - $55

https://imgur.com/ef87u9N - Red - $55

https://imgur.com/AbL1r5c - Green - $45 (damaged on the hilt, see video)

(2) 1 ozt Beskar Bars - $50 each

JSB Fractional

(51) JSB Cast Gram - $3 each - $2.50 each for 5 or more

(35) JSB Honeycomb Cast Gram - $3 each - $2.50 each for 5 or more

(16) 4+ grams each JSB Beskar Trade Dollar - $10 each

Shipments on this sale will be USPS first class for $5 or priority for $8.

Payment by PPFF, Zelle, Venmo, Bitcoin, and ETH

Prices are subject to change at any time due to market fluctuations and in the event of a listing error or update.

Feedback – The easiest way to get feedback is to post a link to your comment on this WTS once received. This allows me to easily navigate there while on mobile

Get ready for more FUD | Elon Musk, Jack Dorsey, Cathie Wood Confirmed To Speak At Bitcoin Event on July 21

https://www.benzinga.com/markets/cryptocurrency/21/07/21741204/elon-musk-jack-dorsey-cathie-wood-confirmed-to-speak-at-bitcoin-event-on-july-21?utm_campaign=partner_feed&utm_source=robinhood.com&utm_medium=partner_feed&utm_content=ticker_page

Get ready for more FUD | Elon Musk, Jack Dorsey, Cathie Wood Confirmed To Speak At Bitcoin Event on July 21 (x-post from /r/Cryptocurrency)

https://www.reddit.com/r/CryptoCurrency/comments/onpcg0/get_ready_for_more_fud_elon_musk_jack_dorsey/

Some potential insight into indicators/events that can cause the crypto market to recover and resume bull mode, and some things that may lead us to further downside.

As a crypto HODLer with very little cash left to buy the dip, personally I'd really like to see this crab market end and crypto to head on a course straight for the moon. Realistically I know that anybody who tells you that they know exactly what the crypto market will do is definitely lying and anything could happen at any time for literally no reason in particular. All models are wrong, but some are more useful than others. In this post I'll be using some technical analysis, on chain metrics, and upcoming events to make speculation about what I think the market is more likely to do (go up) and some info about the potential for downside. Before I get started on this, here's a TLDR for those who CBA to read walls of text.

​

TLDR: Crypto market as a whole is still largely a slave to bitcoin price action. Bitcoin is forming a descending wedge pattern on low volume (reversal signal) and network hash rate is closely modeling the shape of the late 2018->mid 2019 bull action. On chain metrics also indicate that those with large amounts of bitcoin are largely accumulating at current prices. Ethereum London Hard Fork maybe also act as a catalyst for price increase. On the flip side, the 2021 cycle and crash in may has exhibited several of the same indicators we have seen post other cycle tops, and we could realistically have finished this bull run and be in the long term bear market. In addition, several impending market crash indicators for the US stock market are appearing and a stock market crash may lead to a crypto market crash similar to March 2020. Smooth brain say price either go up, down, or sideways.

​

1. Bitcoin as the market driver

Since the inception of cryptocurrency, bitcoin has been the dominator of market sentiment. Long term trends of nearly every cryptocurrency have followed the same trend and cyclical price action based on bitcoin's halvening events. Below are graphs of the total market cap of the entire crypto market and bitcoin's price for the past year.

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https://preview.redd.it/godlr1mio8c71.png?width=800&format=png&auto=webp&s=37a451671e1edb2300f46d8dea93e54171ae7482

​

https://preview.redd.it/6hctljzzo8c71.png?width=804&format=png&auto=webp&s=bbf8b160238adda268448efba6f5b1c4a212bba8

Pretty easy to spot that these graphs are strikingly similar and come to the conclusion that the crypto market still is largely just following whatever bitcoin does. Personally I think within the next decade we will see other projects establish themselves well enough to become decoupled from bitcoin but for the time being analyzing bitcoin remains a solid method of analyzing what the entire market as a whole will do so for the rest of this post I will stick mostly to what's going on with bitcoin under the assumption that the rest of the market will generally follow bitcoin's trends.

​

2. Bitcoin price TA, the falling wedge pattern

First I'll start by discussing what a falling wedge pattern is, how it forms, and what it means. A falling wedge pattern occurs when you have contracting price ranges in an overall downward trend. Essentially you see lower highs and lower lows and the range that the price is staying inside of is getting smaller and smaller. Another indication of the wedge pattern forming is that volume is also decreasing.

A falling wedge pattern occurring after the general trend has been upward (definitely was the case for bitcoin prior to this correction) is a sign of trend reversal, in this case a correction ending and resuming a bull run. The more the price contracts during this wedge pattern, the less powerful the downtrend becomes. Let's zoom in on this.

​

https://preview.redd.it/anja4op4t8c71.png?width=174&format=png&auto=webp&s=70d316936b2adc5982ad40f97bfec920ef62d852

Looking at bitcoin's recent price action, we can see the formation of the falling wedge and the accompanied drop in volume. My conjecture is that this is a pattern indicating a reversal in the trend and that we see the bull market resume after an extended correction (or short term bear market, whichever works).

Keep in mind, technical analysis is mostly bullshit, especially where crypto is concerned. There are significant amounts of traders that do trade based on technical indicators though so there is some validity to technical analysis but it is certainly far from a guarantee that what it is indicating will actually happen.

​

3. Bitcoin network hash rate

Bitcoin's hash rate is a measure of how much computing power is being applied to the network by miners. This provides network operation and security with increasing levels as more computing power is applied to the network. Bitcoin's price does not always follow hash rate, but it can give us an idea of how much interest there is in mining bitcoin and is a good valuation as far as bitcoins "worth" in terms of real value applied to the network in the form of computing power which costs money from electricity and equipment. Here's a graph of hash rate for the past 3 years.

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https://preview.redd.it/g2cxbrh6v8c71.png?width=720&format=png&auto=webp&s=9dfb5022798e622416d67111f0d965fd00a22d2f

Keep in mind that these hash rate values are not exact, but calculated based on how long blocks are taking to solve at current difficulty levels and then average over a short time period to create a trendline.

There are a few key things to take away from this graph. First off, a drop in the bitcoin price has not always been accompanied by a drop in hash rate. This point is more obvious when you look at hash rate during the end of the 2017 bull run (not shown here) where hash rate keeps going up even through the crash. In more recent years however, we have seen a general trend where the network hash rate drops and increases with the bitcoin price. Looking at the end of the graph it's pretty easy to spot where the middle of May 2021 is and when the Chinese miners had to shut down their operations.

What this caused was the largest difficulty drop on record (and another further difficulty drop the last adjustment). This means that mining profitability has now skyrocketed relative to where it was in May prior to the crash. Since then more and more operations (likely in China mostly) have had to shut down and as the network hash rate plummeted, prior to the difficulty adjustment, many miners probably shut down their equipment temporarily while mining was relatively difficult and block times were long. Let's zoom in to what's currently happening though.

​

https://preview.redd.it/w1r8ovabx8c71.png?width=720&format=png&auto=webp&s=c36f337b8a62a9ab8aaa09e9dd05abd59de14c4e

Hash rate bottoms out at the beginning of July, where we had the massive drop in difficulty, and then BAM, hash rate immediately starts to climb back up. Mining is now profitable again and we see hash rate has been on an uptrend since that huge adjustment. Likely this is just the 1st wave, a lot of those china based mining operations are looking to move elsewhere and they are going to want to get back online while mining difficulty is still much lower than it was previously. An increase in hash rate means a more powerful and secure network, and a better valuation for bitcoin.

​

4. Bitcoin accumulation by the whales

For the sake of brevity and not just copy/pasting, I'm going to link this article which has a pretty solid analysis on the overall trend of various size wallets.

https://ecoinometrics.substack.com/p/ecoinometrics-on-chain-trends

The TLDR of this analysis is that wallet addressed that would constitute being whales, largely sold off as bitcoin reach trading high between March-May and have now begun to accumulate again with the price in the low 30k range.

Typically speaking we think of whales as either institutional investors or individuals with large amounts of wealth. Nobody in that group is particularly fond of losing money and generally have high amounts of market knowledge or at a minimum have their money being managed by those who do. With whales accumulating, and events happening like Bank of America offering bitcoin investing to "select groups", it's hard to ignore that big money thinks bitcoin has bottomed out and is putting their money behind that hypothesis.

5. Ethereum London Hard Fork

Most of this post has been about bitcoin but Ethereum has definitely become significant enough to warrant it potentially starting to affect the market and dethrone bitcoin as the sole driver. At time of writing Ethereum is worth 17.1% of the entire crypto market cap (compared to bitcoin's 46.4%). Ethereum has some exciting news on the horizon so let's take a look.

There are two main features coming in EIP-1559. The first being a change to how Ethereum gas fees are calculated. This change should improve the overall user experience of dealing with gas fees and hopefully also make gas fees more consistent in cost. The second is a gas fee burn mechanic. Essentially there will be a "base fee" and a "tip" portion of Ethereum gas fees in transactions. The "base fee" will be burned and the miners will get the "tip" portion. Paying the extra "tip" portion can essentially allow someone to pay extra fee in order to make processing the transaction more of a priority for the network.

The token burn mechanic is the one that has the most speculation as far as impact to Ethereum's price goes. Basing it off the general supply and demand, burning the gas fee instead of giving it to miners would theoretically cause a drop in the supply. For a given demand level this would then cause an increase in price. This is obviously not the sole driver of the price of any asset so just like any other single thing, it could cause nothing to happen.

​

6. The potential for downside

While I would love to live in the dream of "stocks only go up" the reality is nobody knows exactly what will happen other than that we will either see it go up, go down, or go sideways. Let's take a look at what could cause it to go down.

The first theory, is that we have finished the 2021 bull cycle and have entered the typical long term bear market following price run-ups in the halvening cycle. There are some standard indicators we have seen that have matched up with previous cycle tops. Bitcoin's price action has definitely trended like a cycle end since the middle of may. ~50% crash over a few days, followed by a dead cat bounce, then a slow decline. In addition, the ATH so far in 2021 occurred almost exactly at the same time in the cycle (days post halvening) that the 2013 peak happened. So timeline wise there is also precedent for the run to have come to an end. While a double peak is also not unprecedented as the same thing happened in 2013 run, we should definitely be prepared for the 2021 bull run to have reached it's end. This argument between end of cycle or double top has been beaten to death in the sub so I'll just leave it at, yes it is definitely possible we reached the end of the cycle, and it is possible we haven't only time will tell.

The second theory, is an impending US stock market crash. Looking back to the bitcoin chart, we see a large price drop occurring in March 2020, exactly lining up with the COVID induced stock market crash. One of the downsides to more widespread adoption and institutional investors is that when shit hits the fan for the stock market it will also hit the fan for the crypto market. Right now there are inflation fears, craziness going on with the housing market, insanely high reverse rehypothecation action, and several other indicators that have not been seen since the 2007-2008 time period just before the 2008 stock market crash. Even if it does happen, when it happens is anybody's guess, but a stock market crash is at least on the table and if it does happen its a pretty solid bet that the crypto market will crash too.

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Conclusion

There are a lot of posts out there saying things like "price will go to 250k!", "the bull run is not over", "we are definitely in a bear market", "crypto will crash further", you guys get the gist. In reality, there are several things working both for and against the crypto market and either one could take the reigns at any time. The only proven strategy in the long term is to HODL for the big green candles. Don't trade based on emotion or what anybody (including me) tells you what they think is going to happen. The only thing anybody knows for certain is that nobody knows shit about fuck.

"BREAKING – Organizers of The ₿ Word #Bitcoin conference have confirmed the event will feature a live discussion between @elonmusk , @jack and @cathiedwood." The participants:

https://i.redd.it/mmgpniojf8c71.png

Elon Musk, Jack Dorsey, Cathie Wood Confirmed To Speak At Bitcoin Event on July 21 | Benzinga

https://www.benzinga.com/markets/cryptocurrency/21/07/21741204/elon-musk-jack-dorsey-cathie-wood-confirmed-to-speak-at-bitcoin-event-on-july-21?utm_campaign=partner_feed&utm_source=robinhood.com&utm_medium=partner_feed&utm_content=ticker_page

Tesla's put/call ratio is at 0.69 - Bullish on all fronts

Tesla has a current put/call ratio of 0.69. Anything below 0.7 and falling is considered bullish. Earlier today we were at 0.78.

Tesla was the most active stock in the market today and I suspect the "Green Initiative" Biden is pushing could help bulls out there.

Vehicle registrations in California have also risen over 85% in Q2 with Model Y registrations up over 700% to 13,581.

As we head into earnings there is also the speculative aspect with bitcoin catering. It will be interesting to see how the mark to market accounting works here with Tesla's ownership in bitcoin. I would also put it at a non-zero event to potentially see Elon acquire some other obscure cryptocurrency (hint hint Dogecoin), but would put that at under 5% probability.

What do you guys think?

https://preview.redd.it/n1iugoab68c71.png?width=1740&format=png&auto=webp&s=8b8c4562fc43f11e170f0e32a9a7668078a0763b

July 21st

What does everyone think the significance will be from Elon meeting Jack Dorsey at the Bitcoin event in two days??

Bullish Divergence

I believe there are external factors that will create a bullish divergence for RLC and the crypto market in general.

1. Bitcoin Conference starting July 21. This will either be a net neutral or net positive event as Jack Dorsey and Musk are set to appear. Ark is a big investor in Tesla and Musk won’t be attending just to shit on Bitcoin.

2. EthCC is taking place this week with our fearless leader Gilles giving a talk on the main stage providing a demo of creating an oracle through the imminent Oracle Factory release.

3. Mostly a personal observation, but if this is still a pause on a larger cycle, we are near the bottom if not the bottom. The risk reward of selling/shorting is very low to the potential explosive upside. When crypto starts it’s run it’s usually violent and fast. Being a day or a week late could be missing out on multiples of potential return.

Weekly Update/Discussion - 19/07

Welcome to our weekly updates! On here, you'll be able to find a list of all the different cryptos with a list of their different possible APYs on different platforms. We also include a list of different proof of stale and other crypto paired with the best entry prices that we find valuable and safe for the long term. Further down, you'll find a list of all the upcoming airdrops for the week to which you can participate through the CoinMarketCap website. Next up, you'll be able to read a brief summary of all the principal news relative to crypto for the next couple of weeks.

If you're new here, make sure to read our pinned welcome post to have all the info you need to begin your journey in this sub.

Best Crypto to Stake

For finding crypto with the best APYs % feel free to use this spreadsheet

Credit to u/ashtonlaszlo for sharing it with us.

Weekly proof of stake crypto recommendations:

-$ADA under $1.3

-$BNB under $305

-$TRX under $0.055

-$LINK under $15

-$VET under 0.08

-$DOT under $13

Weekly other crypto recommendations:

-$BTC under 32.55k (big support area, still be careful and keep watch of its 31k support)

-$ETH under $2k

-$XRP under $0.6

-$DOGE under $0.15

-$XLM under $0.25

Upcoming Airdropfor the week (you can participate in these through the CoinMarketCap Airdrop Calendar

- KCCSwap (KCCSWAP)

- CoinW Token (CWT)

- NEXTYPE (NT)

Click here if you want to participate in any of these.

Important News/Events:

-Elon Musk and Jack Dorsey agreed to have a talk about Bitcoin, which will take place on the 21st of July. This could be the make or break of our 30-40k pattern.

- Coinbase announce they will start adding as many cryptos as they can.

- No more meme coin or shitcoin shilling after TikTok announce paid crypto promotions will result in a permaban

-Ethereum approaches the date of its planned EIP-1559 upgrade.

-Bitcoin hovers in its 30k-35k area, coming closer to an exit, hopefully for the upside.

To be honest, all cryptos are at great entry prices right now. I recommend dollar-cost averaging in case it was to break the resistance and fall lower. Especially if Bitcoin we’re to break its 30k support. This moment is very crucial for the crypto market, the two key points I’m looking at are the 30k point and the 36k point. Falling under 30k could signify a fall into the mid-low 20k s, closing over the 36k point could mean a break in the pattern and a push back into the 42k-50k levels. Let me know if you want me to add any other crypto, or if you have an idea I could add to these weekly updates.

HODL, and have fun!

Hope this helps!

Contact the mods here:

u/ashtonlaszlo

u/PunkPrince66

r/rewardsforcrypto

Grayscale Unveils DeFi Fund Linked to New CoinDesk Index

Grayscale, the largest cryptocurrency investment manager, said Monday it has started a fund focused on decentralized finance (DeFi) tokens, based on a new DeFi-specific index produced by CoinDesk’s TradeBlock division. 

The companies, both subsidiaries of CoinDesk parent Digital Currency Group (DCG), wrote in a joint press release the Grayscale DeFi Fund provides “exposure to a selection of industry-leading DeFi protocols through a market-capitalization weighted portfolio.” The idea is that investors can allocate money toward DeFi without having to buy the tokens directly. 

DeFi, which consists of blockchain-based software protocols designed for the trading and lending of cryptocurrencies, is one of the fastest-growing segments of the digital-asset industry. The amount of collateral locked into the protocols has increased 19-fold over the past year to about $50 billion, and prices for many of the platforms’ associated tokens have soared. 

“Based on the user adoption that we’re seeing around DeFi and DeFi protocols, we do think the future of this area is bright,” Grayscale CEO Michael Sonnenshein said in an interview Monday on CoinDesk TV’s First Mover program.

The fund is only open to “eligible individual and institutional accredited investors,” according to the press release. Grayscale said it “intends to attempt to have shares of this new product quoted on a secondary market” but added that “there is no guarantee this will be successful.” 

The CoinDesk DeFi Index is a new product from TradeBlock, one of the first firms to develop an index for professional investors to track bitcoin when it launched the XBX Index in 2014. CoinDesk announced its purchase of TradeBlock for an undisclosed sum in January.

The new index joins a growing list of offerings designed to help investors track prices for DeFi tokens and invest in them. Last month, the technology firm Amun launched two new crypto token products, the DeFi Index Token and DeFi Momentum Index.    

The cryptocurrency data firm Messari has a dedicated screening tool tracking 164 DeFi tokens. The average price of the tokens is up 395% this year, versus 8.3% for bitcoin, the largest cryptocurrency by market value, and 160% for No. 2 ether.  

According to the press release, the CoinDesk DeFi index aims to provide a “broad-based, benchmark representation of DeFi protocols,” with assets weighted by their market capitalization.

As of July 1, 2021, the CoinDesk DeFi Index consisted of the following assets, with their market-capitalization-based weightings:

• Uniswap (UNI), 49.95%
• Aave (AAVE), 10.25%
• Compound (COMP), 8.38%
• Curve (CRV), 7.44%
• MakerDAO (MKR), 6.49%
• SushiSwap (SUSHI), 4.83%
• Synthetix (SNX), 4.43%
• Yearn Finance (YFI), 3.31%
• UMA Protocol (UMA), 2.93%
• Bancor Network Token (BNT), 2.00%

https://www.coindesk.com/grayscale-defi-fund-coindesk-index

[HIRING] DnD-style group portrait - 300 USD

Hi guys!

We're a group of four close friends who want to gift one of us a portrait of the group for his birthday.

The style is a mix between the two below posts:

https://reddit.com/r/HungryArtists/comments/gzp92q/for_hire_dnd_party_character_illustrations/

https://reddit.com/r/HungryArtists/comments/ns9h8a/hiring_group_portrait_of_dd_group_having_a_fun/h0wjkrv

Several pictures of each person will be provided. We'll ask for minor background details that relate to events from our lives. (e.g.: a "python for Dummies" book, a Bitcoin poster, a THC gummy bear jar, etc.)

Please respond with your contact details and relevant group pic examples.

Thanks!

What is happening to doge now is a very difficult and painful process of decoupling from btc and emerging as the dominant crypto in the world of real commerce💎🙌💎💎🤙🚀🚀🚀🚀🚀🚀🚀🚀

The Doge HODL Manifesto!

The crypto markets are still driven by btc and right now it is actually the perfect storm for bitcoin which is dragging all other crypto down thru arbitrage trading. Here are just some things weighing down on btc, crypto and doge by extension:

• China btc mining/tx processing ban
• Tesla drop
• Bitcoin energy inefficiency and environmental impact concerns from sustainability conscious institutional investors

This process of decoupling from btc and all things bitcoin is going to last for some time but when it is over doge hodlers are going to get crazy rich. You know it, I know it, and Elon knows it too..

Here's just some of the why:

• Doge adoption by businesses for real commerce is rapidly expanding not just in the US but globally
• Doge daily trading volumes have been shattering all records with 1250% rise to $1 billion in Q2 of this year
• Upcoming doge platform upgrades such as SegWit and Check Sequence Verify will result in 99% drop in tx fees, improved doge tx speed and overall platform scalability - (all spearheaded by Musk) - which may lead to doge adoption by Tesla and other big businesses
• Multiple future events like Doge-1 mission to space will continue to contribute to doge popularity
• Doge brand is akin to Apple in terms of positive emotions it evokes among consumers (marketologists luv this kind of isht. doge brand already sells a lot of product today!! from slimjiim to merch to dogecan by axe.. etc. etc.)

Again the process of doge breaking away from BTC and ETH will be wobbly and at times painful with dips twists and turns as we have been experiencing for some time now. However, the things that have happened in just the last 3 months have already made it abundantly clear that doge crypto supremacy is inevitable.

Mark my words - in just a few years those who were smart enough to HODL and expand their doge stash will be thenew Forbes list.

Doge is happenan and it is real... So much for a joke lol. Looks like fate does love irony after all..

to the moon shibe! 🤙🚀🚀🚀🚀🚀🚀🚀🚀🚀 spread the word and do only good everyday !! and HODL

What's the Difference Between Shiba Inu Token And Dogecoin?

Hey guys! I just wondered what is the differences between SHIB and DOGE so here are some crucial points. Hope it will be useful for some of you. I cut the text a bit and added "read more" just to understand what's more interesting to have a chance to write even more useful content next time. So let's start from DOGE first.

What’s Dogecoin, and How does it Work?

The cryptocurrency, which originated as a joke, has surpassed all others in terms of hype over the past year. Ironically, it seems to be quite sensitive to jokes, as evidenced by Ilon Musk’s humorous comments. The Dogecoin cryptocurrency was created in December 2013 by Billy Marcus, a programmer, and former IBM engineer. At the time, Bitcoin was getting a very bad reputation for involvement in black market transactions on the darknet, and Marcus wanted to create an alternative that had nothing to do with such dubious problems. The cryptocurrency’s name came from a meme and the image of a dog is used in the images it is illustrated with.

Dogecoin is based on Litecoin, and its... read more!

What’s Shiba Inu Token, and How does it Work?

SHIB is the name of a cryptocurrency token called Shiba Inu. It is a token whose logo depicts the face of the same Shiba Inu dog that uses Dogecoin and, as its developers claim, aims to “replicate Dogecoin’s success in turning a joke into a joke. machine for making money”.Shiba Inu (SHIB), nicknamed the DOGECOIN KILLER, has been released in line with the ERC-20 standard of the Ethereum (ETH) blockchain. SHIB allows users to have billions or even trillions of tokens.

While very little is known about Shiba-Inu, its white paper (dubbed “woofpaper” by its team) explains that it consists of 3 tokens (two are already in... read more!

So, What’s the Difference?

Despite this, events show us that SHIB is trying very hard to stand out and show that it can have real use and be profitable without relying solely on memes. So, as far as advanced, the value of Dogecoin has grown incredibly in the past year, especially thanks to the support of celebrities like Ilon Musk and the acceptance of it by the community, which has made it one of the most popular tokens, which is now ranked nth.

Ranked 4th by CoinMarketCap we can say that the two projects... read more!

Where to Buy Shiba Inu & Dogecoin?

The process of buying Dogecoin is quite simple. Especially considering that Guarda has already taken care of everything. There is no longer a need to go through a huge amount of documentation, and... read more!

What's the Difference Between Shiba Inu Token And Dogecoin?

Hey guys! I just wondered what is the differences between SHIB and DOGE so here are some crucial points. Hope it will be useful for some of you. I cut the text a bit and added "read more" just to understand what's more interesting to have a chance to write even more useful content next time. So let's start from DOGE first.

What’s Dogecoin, and How does it Work?

The cryptocurrency, which originated as a joke, has surpassed all others in terms of hype over the past year. Ironically, it seems to be quite sensitive to jokes, as evidenced by Ilon Musk’s humorous comments. The Dogecoin cryptocurrency was created in December 2013 by Billy Marcus, a programmer, and former IBM engineer. At the time, Bitcoin was getting a very bad reputation for involvement in black market transactions on the darknet, and Marcus wanted to create an alternative that had nothing to do with such dubious problems. The cryptocurrency’s name came from a meme and the image of a dog is used in the images it is illustrated with.

Dogecoin is based on Litecoin, and its... read more!

What’s Shiba Inu Token, and How does it Work?

SHIB is the name of a cryptocurrency token called Shiba Inu. It is a token whose logo depicts the face of the same Shiba Inu dog that uses Dogecoin and, as its developers claim, aims to “replicate Dogecoin’s success in turning a joke into a joke. machine for making money”.Shiba Inu (SHIB), nicknamed the DOGECOIN KILLER, has been released in line with the ERC-20 standard of the Ethereum (ETH) blockchain. SHIB allows users to have billions or even trillions of tokens.

While very little is known about Shiba-Inu, its white paper (dubbed “woofpaper” by its team) explains that it consists of 3 tokens (two are already in... read more!

So, What’s the Difference?

Despite this, events show us that SHIB is trying very hard to stand out and show that it can have real use and be profitable without relying solely on memes. So, as far as advanced, the value of Dogecoin has grown incredibly in the past year, especially thanks to the support of celebrities like Ilon Musk and the acceptance of it by the community, which has made it one of the most popular tokens, which is now ranked nth.

Ranked 4th by CoinMarketCap we can say that the two projects... read more!

Where to Buy Shiba Inu & Dogecoin?

The process of buying Dogecoin is quite simple. Especially considering that Guarda has already taken care of everything. There is no longer a need to go through a huge amount of documentation, and... read more!

Jul 12 - Jul 19 Good Crypto Weekly Market Summary

Quick weekly news:

• New data hints why Bitcoin price action has spent two months at $30K: Read more here.
• Summer Slump: Why Bitcoin and Ethereum Are Stuck in a Rut: Read more here.
• Blockchain Protocol Thorchain Loses 4K Ether in Attack: Read more here.

Other notable events include:

- Tesla's decorrelation from Big Tech may have been influenced by Bitcoin.

- PayPal increases Limits on Bitcoin Purchases to $100,000 Per Week.

Tesla's decorrelation from Big Tech

Market analysts claim, Tesla's exposure to Bitcoin (BTC), may be the reason for its dramatic decorrelation from Big Tech in recent weeks. As of Wednesday, July 14, the 20-day correlation between the company's price and the Nasdaq 100 index has decreased from 0.83 on June 17 to 0.14.

While Tesla has lost over 4% this month, the Nasdaq 100 has gained more than 2%. According to BNN Bloomberg, there is a decreased link between Tesla shares and the NYSE FANG+ index.

PayPal increases Limits on Bitcoin Purchases

PayPal announced that the amount of Bitcoin that U.S. consumers may buy via its platform has increased to $100,000 per week. Previously, purchases were limited to $ 20,000 each week. Now users can purchase crypto with no annual purchase limit.

According to the press release, these changes will allow the company's customers more choice and flexibility in purchasing cryptocurrency on the PayPal platform.

Customers in the United States (outside of Hawaii) can now buy, sell, and hold Bitcoin, Bitcoin Cash, Ethereum, or Litecoin on the platform. They may also pay for goods and services with them.

Also, be sure to check out top altcoin gainers and losers of the week ⬇️

https://preview.redd.it/a77f6jw8a6c71.png?width=1200&format=png&auto=webp&s=45084436e6be92daffdc345698ca5652b2780895

MARKET SUMMARY

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WEEKLY TECHNICAL REPORT – 18 JULY 2021

WEEKLY SNAPSHOT

CPI (YoY) (Jun), U.K.

    WHEN:                                               WHAT IT HAD INFLUENCED:

14th JULY 2021                                           GBP and its subsequent pairs

WHAT HAPPENED: The Consumer Price Index (CPI) measures the change in the price of goods and services from the perspective of the consumer. It is a key way to measure changes in purchasing trends and inflation.

GBPCAD is trading in a downward channel, further downside can be seen in the coming days.

     Core Retail Sales (MoM) (Jun), U.S.

     WHEN:                                              WHAT IT HAD INFLUENCED:

     16th JULY 2021                                         USD and its subsequent pairs

WHAT HAPPENED: Core Retail Sales measures the change in the total value of sales at the retail level in the U.S., excluding automobiles. It is an important indicator of consumer spending and is also considered as a pace indicator for the U.S. economy.

NZDUSD is trading in the parallel channel, further upside can be seen if it breaks the channel upside and vice-versa.

BoC Interest Rate Decision, CANADA  

WHEN:                                              WHAT IT HAD INFLUENCED:

14th JULY 2021                                        CAD and its subsequent pairs

WHAT HAPPENED: Bank of Canada (BOC) governing council members come to a consensus on where to set the rate. Traders watch interest rate changes closely as short-term interest rates are the primary factor in currency valuation. USDMXN is trading in the down channel, further downside can be seen in the coming days.

USDCAD is trading in the up channel, further upside can be seen if it breaks the channel upside and vice-versa.

Gold prices end lower, but climb for a 4th week in a row

WHAT IT HAD INFLUENCED:

GOLD 

WHAT HAPPENED: Gold prices settled with a loss on Friday, pressured on the back of strength in U.S. Treasury yields, but prices still managed to end the week higher for a fourth week in a row. August gold fell $14, or 0.8%, to settle at $1,815 an ounce after settling Thursday at the highest in nearly a month. For the week, prices for the most-active contract still edged up by about 0.2%

GOLD is trading in the parallel channel; further upside can be seen if it breaks the channel upside and vice-versa.

Oil Has Worst Week in Months; UAE’s OPEC Deal Could Open ‘Can of Worms’ 

WHAT IT HAD INFLUENCED:

CRUDE OIL

WHAT HAPPENED:

Oil prices had their worst week in months even after crude prices edged higher Friday, as the market absorbed news that the United Arab Emirates had a deal with OPEC+ that at least one hedge fund said could open “a can of worms” on the cartel’s output.

New York-traded West Texas Intermediate crude, the benchmark for U.S. oil, settled up 35 cents, or 0.5%, at $72 per barrel. For the week though, WTI lost $2.56, or 3.4%. It was the largest weekly loss for U.S. crude since the week ended April 2.

London-traded Brent, the global benchmark for oil, rose 12 cents, or 0.2%, to finish the session at $75.55. For the week, Brent lost $1.96, or 2.6%, for its sharpest weekly decline since the week to May 14. 

OPEC+ – which groups the 13 member Saudi-led Organization of the Petroleum Exporting Countries with 10 other oil producers led by Russia – had initially failed to agree on August production levels after the UAE sought a higher baseline for measuring its output cuts.

WTI CRUDE OIL is currently in the upward channel. Further upside can be seen in the coming week.

     Bitcoin Could See Q4 Rebound as Investors Hunt for Yield

WHAT IT HAD INFLUENCED:

BITCOIN

WHAT HAPPENED:   Bitcoin’s fall from grace hasn’t quieted its supporters, who are confident the hunt for yield will land institutional investors at the popular cryptocurrency’s door as soon as fourth quarter. 

“We’re looking at three volatile months, both up and down but I still think we’ll see $100,000 this year, probably in the fourth quarter,” Michael Venuto, chief investment officer for Toroso Investments, said in an interview with Investing.com.

This next big driver of demand that will ultimately revive the bull run for bitcoin won’t have anything to do with the popular cryptocurrency. In their hunt for yield, institutional investors will begin to seek out bitcoin and other cryptos.

Institutional investors are well versed in the hunt for yield, or the lack of it, especially in the bond market, where the low-rate environment has served up pitiful, and even negative returns.

But the big bet from institutional investors won’t be on the direction of bitcoin and other cryptos, but on the yield they can generate when loan out to borrowers.

BTCUSD is trading in a triangle, upside can be seen if it breaks the downside support.

5 KEY EVENTS TO WATCH OUT

     Retail Sales (MoM) (Jun), U.K.

 WHEN:                                                              WHAT IT INFLUENCES:

 23rd JULY 2021                                                   GBP and its subsequent 

                                                                             pairs

WHAT’S HAPPENING: Retail Sales measure the change in the total value of inflation-adjusted sales at the retail level. It is the foremost indicator of consumer spending, which accounts for the majority of overall economic activity.

A higher-than-expected reading ought to be taken as positive/bullish for the GBP, whereas a lower-than-expected reading should be taken as negative/bearish for the GBP.

Initial Jobless Claims, U.S.

WHEN:                                                                WHAT IT INFLUENCES:

22nd JULY 2021                                                       USD and its subsequent 

                                                                              pairs

WHAT’S HAPPENING: Initial Jobless Claims measures the number of individuals who filed for unemployment insurance for the first time during the past week. This is the earliest U.S. economic data, but the market impact varies from week to week.

A higher-than-expected reading ought to be taken as negative/bearish for the USD, whereas a lower-than-expected reading should be taken as positive/bullish for the USD.

    Interest Rate Decision (Jul), RUSSIA

WHEN:                                                               WHAT IT INFLUENCES:

23rd JULY 2021                                                    RUB and its subsequent 

                                                                             pairs

WHAT’S HAPPENING: The Bank Rossii decision on short term interest rate. The decision on where to set interest rates depends mostly on growth outlook and inflation. The primary objective of the central bank is to achieve price stability. 

A higher-than-expected reading ought to be taken as positive/bullish for the RUB, whereas a lower-than-expected reading should be taken as negative/bearish for the RUB.

Core Retail Sales (MoM) (May), CANADA

WHEN:                                                                WHAT IT INFLUENCES:

23rd JULY 2021                                                     CAD and its subsequent 

                                                                              Pairs 

WHAT’S HAPPENING:  Core Retail Sales measures the change in the total value of sales at the retail level in Canada, excluding automobiles. It is an important indicator of consumer spending and is also considered a pace indicator for the Canadian economy. 

A higher-than-expected reading ought to be taken as positive/bullish for the CAD, whereas a lower-than-expected reading should be taken as negative/bearish for the CAD.

Manufacturing PMI (Jul), GERMANY

WHEN:                                                               WHAT IT INFLUENCES:

23rd JULY 2021                                                  EUR and its subsequent 

                                                                             pairs

WHAT’S HAPPENING: The German Manufacturing Purchasing Managers’ Index (PMI) measures the activity level of purchasing managers in the manufacturing sector. 

 A higher-than-expected reading ought to be taken as positive/bullish for the EUR, whereas a lower-than-expected reading should be taken as negative/bearish for the EUR.

EQUITIES IN THE COMING WEEK

1. IBM (IBM) to announce its Quarterly Results on 19th JULY 2021, EPS estimated to 2.32 per share while revenue estimated 18.29B. 

2. Crown (CCK) to announce its Quarterly Results on 19th JULY 2021, EPS estimated to 1.78 per share while revenue estimated 2.97B.

3. Philip Morris (PM) to announce its Quarterly Results on 20th JULY 2021, EPS estimated to 1.54 per share while revenue estimated 7.64B.

1. J&J (JNJ) to announce its Quarterly Results on 21st JULY 2021, EPS estimated to 2.29 per share while revenue estimated 22.52B.

2. SAP (0NW4) to announce its Quarterly Results on 21st JULY 2021, EPS estimated to 1.2 per share while revenue estimated 6.67B

TOP COMMODITIES IN THE COMING WEEK

GOLD

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GOLD is trading in the parallel channel; further upside can be seen if it breaks the channel upside and vice-versa. 

SILVER

​

SILVER is trading in the parallel channel; further upside can be seen if it breaks the channel upside and vice-versa. 

WTI CRUDE OIL

​

WTI CRUDE OIL is currently in the upward channel. Further upside can be seen in the coming week.