@Bragato18 17 January 2023 edited

excerpt from @mkhelfman Crypto Is Easy "Note, we are not waiting for the fallout from Mt. Gox, Binance, Genesis / Grayscale, Nexo, Fed pivot, etc for the following reasons: - Mt. Gox distributions got pushed to March and may get delayed further. The BTC totals less than $3 billion, some recipients have already elected cash settlement, and the rest may only sell only some not all of their proceeds. - Even Binance’s critics concede users’ crypto is still there. The concern is business arrangements, fake BSC blockchain, criminal investigations, regulatory crackdown, and shoddy bookkeeping. - DCG’s woes do not involve crypto and the GBTC trust can’t sell any of its bitcoin. True, nobody knows what “contagion” might from from contingencies that force the sale of actual crypto. But the really bad things only happen if DCG shuts down the fund—which is dumb bc it’s a cash cow, leverage in potential bankruptcy negotiations, and can generate enough income to cover DCG’s debts if creditors give DCG enough time to repay them. - If the allegations against Nexo are true, the crypto’s already gone (it was already sold). - The crypto market can go up even if the Fed never pivots. Anything can tank the crypto market at any time from any price."