XRP/USD - XRP US Dollar

take profit

xrp 0.001

xrp no way out since 2018

longest of longs with XRP 🤑🤑🤑

$2> $20> $200 >$2000

pump it up

FTX implosion has revealed that the sector has at least two flags. fiendishly difficult to know what assets underpin digital tokens (faith), since balance sheets often opaque. FTX and Alameda guessed as well capitalised. But last week a report suggested balance sheets were padded by massive holdings of a digital token called FTT, which none other than FTX itself had issued. FTX has not confirmed this. But what is clear is that Binance’s head Changpeng “CZ” Zhao subsequently tweeted out plans to dump his holdings of FTT, causing the token’s price to collapse — and sparking a downward spiral for SBF. Opacity is costly. The second issue is custody, where practices have long been a dangerous mess (as I also recently warned). The SBF empire was simultaneously a broker, proprietary trader, lender and custodian for the crypto world, reportedly rehypothecating assets on a large scale. This created concentrations of power (which, in another irony, make a mockery of crypto’s decentralised mantra). It also means customers may not recoup their funds. Hence the panic, given the lack of any investor safety net — or lender of last resort — in crypto land. In theory, these problems could be fixed if crypto were forced to adopt the same regulatory tenets around custody and transparency as fuddy-duddy fiat-based finance. If so, mainstream investors might stay involved. bipartisan congressional bills are already floating that try to do just that. But these have not been implemented yet, amid political gridlock. And, in practice, crypto players’ attitudes towards regulation is — at best — mixed.

something is cooking .. sudden surge

something is cooking .. sudden surge

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