2023-12-01

🚔 SBF's Rough Ride Behind Bars!

December 01, 2023

Howdy Folks,The air certainly is clear up here above $38k!

Let's take the plunge!

⚖️ SBF's Dangerous Game
🚀 Saylor's Strategic Triumph
🚫 Denying Unlawful Connections

🔒 SBF's Prison Extortion Encounter

In a plot fit for a crime drama, ex-FTX CEO Sam Bankman-Fried (SBF) navigated treacherous waters at Brooklyn's Metropolitan Imprisonment Centre.

🎰 Playing the dangerous game of prison roulette, SBF's stay was marred by safety concerns, leading him to contemplate paying for protection.Borrello's hour-long interview with Tiffany Fong highlighted the "Wolf of Wall Street meets Shawshank Redemption" scenario.SBF was segregated with former gang members and informants, a move by MDC officials to shield him from gang extortion rackets. But trouble found him anyway.👊 Described as timid with “the body of an 80-year-old,” SBF was the perfect target for prison predators smelling money.

Borrello recounted an inmate's attempt to spook SBF into paying protection money, a tactic straight out of the extortion playbook.Acting like a guardian angel in disguise, Borrello confronted the perpetrator, a move that landed him in solitary confinement for 80 days.But...also put him in a prime position for an interview payday! 🤦

🛡️ This slice of prison life gives a glimpse into the harsh realities facing high-profile inmates like SBF, where the law of the jungle prevails, and survival often depends on unlikely alliances.

📈 MicroStrategy's Bold Bitcoin Bet Pays Off

MicroStrategy's latest Bitcoin acquisition has turned the tables for the company, defying skeptics and placing Chairman Michael Saylor at the forefront of a bold investment strategy.

The firm's recent addition of 16,130 BTC, announced yesterday, brings its total holdings to a staggering 174,530 BTC, valued at approximately $611 million at current prices.

🌐 MicroStrategy's initial foray into Bitcoin in August 2020 involved purchasing 21,454 BTC for around $250 million.Despite facing substantial unrealized losses in 2022 due to Bitcoin's price plummet, 2023 has been a year of redemption.Saylor must be giggling his socks off!! 🤣Bitcoin's recovery has not only boosted MicroStrategy's assets into the realm of billions in unrealized profits but also showcased Saylor's foresight.

📊 The impact extends beyond the crypto sphere. MicroStrategy's stock (MSTR) has mirrored Bitcoin's resurgence, leaping by 128.78% Year-To-Date, against Bitcoin's 258.20% surge.Once criticized, this successful gamble on Bitcoin now positions MicroStrategy and Saylor as visionaries in a volatile market, proving that sometimes, the boldest moves lead to the most rewarding outcomes.I'd love to be a fly on the wall in the MicroStrategy office when we hit new all-time highs!!

🔍 Circle Refutes Allegations of Illicit Ties

In a letter to U.S. lawmakers, Circle (the issuer of USDC) has firmly denied allegations of illicit ties to individuals and entities.

Addressed to Senator Elizabeth Warren and Chairman Sherrod Brown, Circle's Chief Strategy Officer, Dante Disparte, responded to claims from the Campaign for Accountability.The organization had suggested Circle's association with Justin Sun, founder of TRON, and indirect financing of Hamas.

🔗 Circle stated unequivocally that neither Justin Sun nor his related entities currently hold accounts with them.Hopefully, it's not a case of; 'The lady doth protest too much, methinks.' 👸 They severed ties with Sun's entities in February 2023. This move followed the SEC's lawsuit against Sun for alleged securities violations in March.

💬 Regarding accusations of financing Hamas, Circle asserted no evidence to support such claims.The Wall Street Journal report had initially sparked this concern, suggesting crypto was used to fund attacks on Israel....or just an attack on crypto? 🤔However, Elliptic, the data provider for the Journal's report, refuted these conclusions, affirming the absence of evidence linking Hamas to significant crypto fundraising.

✉️ Circle concluded by expressing a willingness to discuss these matters further with Warren and Brown, reinforcing its commitment to transparency and adherence to legal and regulatory standards.