Egg yolk, what is going on with the viewers of the tuuuubbbe!
My name is Tyler and I think you know me by now, because we just surpassed 100k subs on
this Tube.
I want to thank each and everyone of you, for your continued support, even if it sometimes
feels like we are isolated on our own little island….you know our Hucklesnowberry Finn,
it’s time for Chico Crypto!
Well my friends, the correlation between stonks and crypto, is beginning to move in such a
sweet tandem.
When the two are trading together, as in the stock market and crypto markets are open at
the same time, the stock market leads crypto on where it will go.
Up, Down, or Sideaways.
But When the stocks markets close at 4pm on weekdays, and for the weekend, the crypto
market is a leading indicator of where things are going.
If there is a fat dump, during the night, or over the weekend….usually the stock market
opens with a dump.
So, if you don’t know what is going on….we have trader’s, large whales who are playing
both sides of the markets.
Which is obvious, when you look at what a well known whale is saying in the space.
2 days ago, Mike Novogratz of galaxy digital, was on Bloomberg business, and he “said”
he was short on stock and credit….& “long” on bitcoin.
Let’s listen in….
So, Mikey Boi, he states 100 percent yes, he is playing both the markets, although he
is short on finance 1.0, and long on hard assets like gold, and BITCOIN because this
isss BItcoin time to shine.
The bloomberg hosts, asks then why is the price going down, and Mike answers Asia, and
China the reason, leverage the reason…..and let’s replay this clip at the end….
He says, bitcoin’s downward pressure is coming mostly out of Asia, and that is something
“We’re” looking into.
Who the freak is we’re?
Is it his galaxy digital?
Or does this go deeper?
Well you know Chico, we think it goes a bit deeper that that, and figuring this out might
just tell us where the markets will be headed in the future.
So we know Mike Novogratz is the head of Galaxy digital, who considers themselves as a sort
of crypto merchant bank, providing institutional services, like crypto asset management, principal
investments, crypto asset trading, and advisory services.
That is Mikes, crypto company….but he doesn’t come from the BTC world, just like most of
the prominent whales to this day, they come from finance 1.0.
Mike Novo, is orginally apart of the Fortress Invesment Group, who is listed on the New
York Stock Exchange, their is Mikey during their IPO 13 years ago in 2007 when they were
the 1st hedge fund and private equity company to go public within the United States.
And one of the most disappointing IPOs ever, it opened high back in 07 at 37 buckaroos,
over double the IPO price which was 16...but it crashed harder than a Binance IEO, and
in 2017 the Japanese conglomerate softbank purchased Fortress for 3.3 billion dollars,
and took it private again.
Literally one of the worst IPOs, as public investors got absolutely REKT, while the founders
got massive PAYDAYs...one at IPO launch, one at time for sale.
But how long was Mike involved with Fortress & is he still?
Well according to this Fall of Fortress article, “Fortress’s woes exploded into public
view in 2015, when Michael Novogratz, one of the firm’s principals and an industry
luminary who had joined from Goldman Sachs, retired after shutting down his Drawbridge
Macro fund following wrongheaded bets on everything from Brazil to China”
And this Wall St. Journal article, tells us more.
Michael Novogratz, one of Wall Street’s most famous investors, recently decided to
leave Fortress Investment Group LP and close his macro hedge fund after it lost about $100
million over the past two months from investments in Brazil, according to people familiar with
the matter.
Earlier this year, the fund lost $150 million in a single day from wagers placed by a different
Fortress trader against the Swiss franc, the people said.
The latest losses left the fund down 17.5% for the year through September, according
to a regulatory filing.
Over the past 10 days, Mr. Novogratz realized his fund would soon face client redemptions
and decided to pull the plug on the fund, according to a person familiar with the matter.
Other Fortress executives agreed with the decision.
So Mike, he messed up big time, and lost that Fund a ton of money which hit public investors
the hardest.
But Mike made out like a bandit, according to the article, Fortress would buy back his
stake in the firm for about $255.6 million.
What did Mike do with that Money?
He went on to form Galaxy digital, I wonder how that performed?
Well Mike’s firm got absolutely REKT in 2018, posting over a 272 million dollar loss
for 2018.
And in 2019?
When we experienced another bull run, to 14k, mike still lost money, a net loss of 33 million
for 2019.
And what has recently hit the Firm?
Well with the poor performance, due to terrible bets and trades….Mike and Galaxy announced
in February, they would be laying off 15 percent of their workforce, even before the madness
swept this world in March….but more pain, just 11 days ago, Joshua Lim, their head of
trading strategy announced he would be leaving the firm to explore new opportunities…..
Losing streak, after losing streak, after losing streak.
So when Mike is getting mad about Bitcoin going down, when it shouldn’t be and they
will “look” into it.
I know exactly what he means.
What is the fuel of the crypto markets right now?
Well, if you go to Coingecko and look at coins ranked by volume….Tether is
the #1 most traded crypto asset based on volume alone, averaging nearly 25 percent more daily
volume than bitcoin, even though it’s market cap is 95 percent smaller.
Does that make sense?
NOOOOOOOOO
Sooo unless you are wearing a blindfold while looking at crypto data……
You know, Tether controls the markets.
But Mike, he plays COY….just a year ago in April of 2019, he tweeted “GLXY has zero
exposure to Bitfinex or Tether.
My own sense is that they are less integral to the crypto community then they once were.
That said, it’s not a positive thing that has happened.
The herd won’t come until we all operate with transparency and professionalism”
Ugg bull crap Mike, you know how integral they are to the crypto community.
As you were a customer of one of theirs, as the New York AG, has documentation that says
your Galaxy Digital was or was in the process of becoming one.
And what about operating with transparency and professionalism?
Lying about your exposure, and getting caught with your pants down by the New York AG, isn’t
what you preach.
So you preach that the traditional markets are going down, yet you are LONG on Bitcoin.
Are you lying about that too?.....
Well who is Mike involved with besides the darkside of USDT?
None other than the institutional scumbags of the space, BAKKT.
Galaxy Digital was a Series A investor in the 182 million dollar + round, which included
the likes of Microsoft.
Then just a year after the investment, Galaxy becomes a customer of Bakkt, making the first
block trade on the platform.
Block trade?
What’s that?
It’s a massive, off the books, private trade, made as to not move the markets.
That trade was 6 months ago, October 4th 2019 while BTC was at 8k.
Well just 20 days later, Mike was on CNBC talking about BTC, and this totally tells
us he put in LONGS as Bitcoin started
to drop, into the 7k range.
Let’s listen in….
He hopes it doesn’t go down any further, and then he shills that disgusting company
Bakkt, which he needed too, as he’s invested in them, and most likely has a massive long.
So words then, he is long and words now...he is Long on BTC, so I would guess he still
has that block trade open and if it is, it’s not doing well
So in my opinion, with his connections to USDT, he was told another massive market pump
was coming...all these insiders share this info, but in my opinion Asia, especially the
Chinese exchanges aren’t playing along.
It’s a battle of manipulators, east, west, American, European, Chinese, Korean...it doesn’t
matter.
Who do I want to win?
None of them, they all suck.
USDT, Bakkt, Western Centralized exchanges, eastern centralized exchanges.
Shoot any centralized option.
I’m putting my bets on the one on the sideline, the DEXs which puts the power of crypto where
it belongs, back in your hands.
Cheers I’ll see you next time!