“Buidlbee digest: Possible FUD attack, Buterin’s arguments, and Cathie Wood’s move.”

Published by

Andrew Zhoao

1 year ago

"Buidlbee digest: Possible FUD attack, Buterin's arguments, and Cathie Wood's move."

In the world of cryptocurrency, there are always exciting events happening. Recently, news emerged about a possible FUD attack, and Vitalik Buterin’s argument with an Indian mystic about the impact of blockchain on human consciousness. Additionally, the prominent investor Cathie Wood continues to make headlines, as she invests in Coinbase and pushes for the SEC to approve a Bitcoin-ETF. If you want to learn more about these events and their potential impact on the world of cryptocurrency, keep reading.

False alarm or FUD attack again

Amid increased volatility, the total volume of liquidations for the day exceeded $350 million. News about the movement of large amounts of cryptocurrency by purses controlled by the US government and the Mt.Gox exchange turned out to be false — service Arkham commented on the DB Alert, calling what happened a mistake, after which Bitcoin gradually recovered to $29k.

Our brief analysis

Bitcoin rose sharply yesterday by about $2,000. Then fell about $2,000 and is now back up sharply by $1,000. All in the last 36 hours.

Mass liquidations wiped out the positions of both those who tried to long and those who tried to short. Everyone turned out to be wrong. And what are you betting on?

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Vitalik Buterin argued with an Indian mystic about blockchain

The co-founder of Etherium talked to an Indian mystic Sadhguru, who founded the Isha Foundation, about the impact of the latest technology on human interaction.

During a virtual meeting organized by the reState Foundation, Vitalik Buterin and Sadhguru talked about blockchain, among other things Buterin explained to the mystic that the new technology simplifies human interaction in the digital world and can change human consciousness for the better.

However, the Indian mystic sees the situation differently, according to him, now too big a gap is created between the speed of technology development and the evolution of human consciousness, which does not have time to adapt to the rapid growth of information technology. As a result, man risks losing his identity.

Cathie Wood is so hot

Cathie Wood is persistent in investing in Coinbase: the last time she bought Coinbase stock in the fall of 2022, that stock nearly tripled in January 2023. Yesterday, Ark Invest bought Coinbase stock again for ~$8.6 million. Interestingly, this was done on the eve of the U.S. House of Representatives hearing on the regulation of digital assets in the U.S. (this has direct bearing on the fate of Coinbase). Maybe Cathie has some insight?
Cathie Wood is persistently pressuring the SEC: As Bloomberg reports, Cathie Wood’s investment firm has applied for the third time to launch a Bitcoin-ETF. After each rejection, the insistent Cathie submits a new application to the SEC, which is starting to take the form of a protest. An explanation for the latest filing says that the initiative will provide protections for U.S. crypto investors that “do not currently exist.”

Andrew Zhoao