Welcome to Flarnchain Newsletter #146.
As always, and hopefully, brought to your inbox each and every week, like an atomic clock. If you live in the states, this is the Wednesday before thanksgiving, which is considered the busiest travel day of the year over here. This week i am hosting thanksgiving at my place, so I don't have to travel, but lots of work to be done.
That said, I did make sure to update the weekly chart, below:
You know what's funny about the above chart is that without context, it looks like the markets are calmly taking a breather after a very wild ride up to $38k Bitcoin. But actually, this week was a pretty big one in crypto, where CZ the CEO of Binance, the world's largest crypto exchange, plead guilty to money laundering! This was a huge story in crypto news, and probably in the mainstream news, because this guy was supposedly one of the good ones so the media can make a ton of hay on the classic fall from grace fairytale story.
Anyways, I think the story is pretty interesting, because he basically just got a slap on the wrist. He and Binance have to pay something like $4 billion in fines, but they have made way more than that in terms of income. So seems like a win for Binance in my opinion, but ultimately this story should have rocked crypto markets, and it has seemingly been basically a blip on the radar. That shows how much momentum is built up in this coming bull run. Seems like there's been a lot of folks on the sidelines and they are just itching to kick of this next bull market.
Anyways, tomorrow is Thanksgiving so I'm going to call it a night. Since I didn't want to draw a crab, this week's market animal is a Turkey 🦃.
Why a turkey? I don't know. It's not really a crab market, it wasn't just skittling along sideways like a crab. It wasn't like a bull market or a bear market. It was a turkey market.
Have a nice rest of your week!
Cheers,
-Flarn
🤟🤟
