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“Like a bullet from a gun it burns, when you realize she was never your girl it was just your turn” - Skepta.

Taking inspiration from the words of Skepta, I would like to remind all of yall trading this chop that if you lost money recently, it was never really yours. You just had your turn with it. 

It seems that the market gets increasingly worse and illiquid with each passing week. Yet, some of you insist on trading this and chopping away your precious stack. 

The reality is that very few people are skilled enough to make money in these conditions, so if you’re one of the lesser skilled people like me, zoom out of the charts and take a look at some of the developments that are taking place in crypto. 

As I will show you today, from the news front, things are looking exceptionally bullish. So play the long game, anon, and preserve your precious stack. 

Today I’m going to give you a couple good reasons as to why you need to zoom out and think bigger. 

🥸 New Products, New Partnerships, New Integrations

Our lord with the schlong, Vitalik, has come back to posting more often on Twitter, and one of the things he spoke about this week was DeFi. 

He made valid points about the uninspiring nature of DeFi and how we need to do better and think bigger, but of course, CT being CT, they had to flame him. 

Anyway, it seems appropriate that in the same week that Vitalik bashed innovation in crypto, we had some pretty interesting developments in the applications. 

For starters, MakerDAO rebranded to Sky Protocol. This rebrand comes with the migration of MKR to SKY and DAI to USDS. 

The official reason for this rebrand is to “create DeFi products that can reach the scale of Tether or even bigger”. Now, this is a good marketing statement, but how true is it? Seems like it could be more of a case of MKR needs a new chart and low unit bias to benefit from a potential bull run. 

But nonetheless, I think change is a good thing. 

In other DeFi news, the big man himself, Donald Trump, has gone and announced the launch of a DeFi protocol. What times are we living in? The presidential candidate is dropping OHM forks? 

The protocol is called World Liberty Finance, and although details about what exactly it will do are scarce, it has a Telegram channel you can follow to stay up to date. 

This is a pretty strange yet interesting update. If this man wins the election, we are going on a monumental run. 

Now, if we cross the on-chain pond and take a look at Solana, Binance put out a tweet saying BNSOL. If I had to guess, this is some sort of SOL liquid-staking product, which is pretty big news for the Solana ecosystem. 

💊 The Big Dawgs are Crypto-Pilled

You guys heard of this cute little company called SONY? Yeah, that one, only one of the biggest media and entertainment companies in the world. 

Yeah, they’re making an entry into crypto. 

Sony is launching their own Ethereum L2 called Soneium. The public testnet is currently live, it is accessible for all developers and creators who want to test out making applications on the network. 

Then general idea behind this is for this to be the place where Sony can test out the different possibilities of Web 3 and where they can integrate their other products with Web 3 or maybe even create a completely different digital presence. 

Nonetheless, the development is exciting. 

To go with this, Circle announced an official partnership with Soneium to make sure bridging and using USDC on the network is available from the get go. 

If Sony wasn’t big enough for you, may I interest you in another giant. 

Ever heard of this country called Russia? Yeah, that one. 

Well, they, too, are making a massive push into crypto. 

Russia announced that they will be making two crypto exchanges and two stablecoins linked to the YUAN and BRICS currency. 

I suspect that this is a move in their larger bid to challenge the US dollar supremacy. They’ve been doing it in many ways, but they now recognize that stablecoins and dominance in the digital realm is also important. So I suspect that they will make a sizable investment in this.

🧐 The Not So Good News 

With all the good comes some bad news. 

For starters, Mr.Gensler and the SEC are back again with a new target. They issued a wells notice to NFT platform OpenSea. The claim is that some assets on the exchange are unregistered security and OpenSea facilitate their trading. 

It’s a strange move but SEC is just in a place of throw shit at a wall and see what sticks. So we’ll keep a close eye on this. 

In other news, a crypto company executive was stabbed in a South Korean Courtroom. The Exec was the CEO of Haru Invest. The company allegedly stole $828M in client funds and one of the clients who lost money allegedly stabbed the CEO 4 times in court. 

Pretty wild. I can’t advocate for violence but can resonate with the feeling of anger after getting rugged. 

Laslty, we have some news out of Binance. 

Binance allegedly seized funds from several Palestinian accounts this past week. Now I don’t want to get political becasue I’m not qualified to comment on any political situation, but if this is true it’s odd. 

They claim to have seized funds from accounts that they thought were using the funds for illicit activities but there is no way to prove the verity of this claim. But in general, considering the political climate, it’s a bad precedent to set. 

🐵 What to look forward to 

In terms of the market, I’m still in the same boat. 

Staying out of it and focusing on research. A new narrative is likely around the corner so I’m keeping my finger on the pulse of all new projects and innovations to make sure I catch it. 

In the meantime, I’ve been deploying into AI and DePIN coins because they seem to be gaining favour with bigger money participants. 

Other than that, I’m just chilling in cash. Not trying to blow it all trading these small moves. 

Anyway, that’s it from me.

My homies have reached the pub and the pints have reached my table.

I will be enjoying the rest of my friday and I hope you do too. 

Emiri.