Weekly Newsletter #10

Is Binance f*cked? Will the CFTC fine end them? ETH Shanghai is also around the corner, ready to withdrawal?

Author

Run The Chain
April 01, 2023

Newsletter #10

GM/GN, boooolll market is ON! Hope you have an amazing weekend ahead of youl. Grab your Joes ☕️ and milk 🥛, and let’s get to this week's news! 👇

TOPICS OF THE WEEK

Get the yachts ready 🌊

  • Market Analysis

  • News of the Week

  • Other Headlines

  • 🤑 Funding 🤑

  • Meme of the Week

DATA YOU SHOULD CARE ABOUT

Shorters getting wrecked - are we going after #CAPO?

A LOT of borrowing going on, the HIGHEST level ever actually. Could this possibly lead to a credit crisis with the amount of borrowing that is going on? Last time this much borrowing happened, the 08' financial crisis happened.

Insiders are selling the recent rally, but indicators are saying we're back in the bull market? What's your plan?

NEWS OF THE WEEK

The upgrade will go live on April 12th, but the caveat is that if you’ve been staking with a pool or a service - you might actually get your rewards much later.

With only 2⃣️ weeks left until the upgrade - there is no one-size fit all answer to when you can expect withdrawals. However, we did find some answers ⬇️

If you’re independent…

Full withdrawal 👉 Won’t arrive automatically, will need to wait for exit queue

Partial withdrawal 👉 Will be withdrawn automatically, and validators will continue to add blocks

If you used a pool/service…

Really depends on your provider/service - be sure to take a look at their socials

Lido 👉 After Lido goes through its scheduled upgrade in mid-May

RocketPool 👉 After Atlas which is expected to occur on April 18th

StakeWise 👉 Once StakeWise V3 is completed

Coinbase 👉 24 hours after upgrade is complete

So there’s been a LOT of FUD going around with Binance. Wtf is actually going on? Let’s break it down:

On Monday, CFTC alleged that Binance committed multiple trading derivatives violations and SHOULD have registered with the agency years ago.

So...people are worried?

The CFTC usually gives “hefty” fines, and people are worried that this will END Binance.

But…

If you search up the LARGEST fine by the CFTC, it is $1.186 billion, which is only a tenth of Binance’s trading profits.

So?

Binance probably won’t fall, but one thing is clear…the US and crypto do not mix well. It’s like saying Religion = Science.

Because of this, many crypto firms are looking to pivot elsewhere, and many think this will deter the US’s crypto innovation.

This week in our podcast, we talked about crypto regulations in HK and the US, and how YOU can navigate through it. Take a listen! It's only 20 mins long ⬇️

OTHER HEADLINES

$FUNDING$

MEME OF THE WEEK

Is there a fire we don't know about?

Aand that wraps it up for our newsletter! Hope you enjoyed the news, memes and analysis. See you next week!

For more, follow our Twitter (@runthechain)

DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research.