Discussion

• @wublockchain Wu Blockchain on x

  Sharing with The Block, Babel Finance said it carried out an emergency assessment of its business operations to understand its liquidity status and reached preliminary agreements on the repayment period of some debts with major counterparties and customers https://www.theblock.co…

• @muyaoshen Muyao Shen on x

  we also learned that it's likely Babel may get a bailout from current or potential investors. This continues to be one of the more important stories to keep an eye on, as we often forget how important many Asia-based firms are in crypto.

• @muyaoshen Muyao Shen on x

  Slightly relief news after 3AC and Celsius: Asia lender giant Babel wins reprieve on debt payments and are likely in talks with current and potential investors on restructure solutions. more via @crypto https://twitter.com/...

• @mayazi Maya Zehavi on x

  absolutely insane how many crypto intermediary financial models were built on essentially being long gamma on crypto with no path to deleverage or take the other side of that trade: * celsius * 3ac * Babel that we know about so far, cuz they unwinded, but i suspect others too

• @wublockchain Wu Blockchain on x

  Babel official statement: will actively fulfill its legal responsibilities to customers and actively communicated with shareholders and potential investors, and will continue to communicate and obtain liquidity support.

• @3anoncompany @3anoncompany on x

  Babel's imminent bankruptcy has nothing to do with 3AC, if they say so in future announcements will be a blatant lie these dudes simply degen with users' funds AGAIN (almost went under in March 2020), massive option loss this time miners are again having fun being rekt

• @bitfinexed @bitfinexed on x

  Tethers. Backed by Babel Finance bad loans. That's probably the $5 billion or more in so-called digital assets, Ponzi schemes. https://twitter.com/...

• @bitfinexed @bitfinexed on x

  It's another tether bailout. https://twitter.com/...

• @imincorrigible @imincorrigible on x

  The extraordinary level of crypto spam in the past couple of years explained. #CryptoScam #Bitcoin https://twitter.com/...

• @mgsiegler M.G. Siegler on x

  Nice not-so-subtle Elon call out, @WSJ. https://www.wsj.com/... https://twitter.com/...

• @hkanji @hkanji on x

  The cryptocurrency industry was built on swagger, enthusiasm and optimism. All three are in short supply these days, as losses and layoffs mount. https://www.wsj.com/...

• @nefrorantes Dr. Carlos Orantes on x

  Hubris, greed and leverage. How the crypto industry grew to wild heights, and what the reckoning looks like. https://www.wsj.com/...

• @paulvigna Paul Vigna on x

  Crypto is like combination of Beanie Babies, dot-com stocks and the Velvet Underground: manic, money, and all the cool people are into it. It's also like any other bubble: speculation bordering on delusion, disregard for risk, and greed. https://www.wsj.com/... via @WSJ

• @simondixontwitt Simon Dixon on x

  I believe traditional finance will not have a timely solution for Celsius as we saw in the past with Mt. Gox that still remains unresolved 10 years later. I believe that this can only be solved with a solution using financial innovation https://bnktothefuture.com/...

• @celsiusnetwork Celsius on x

  Please find our latest note to the @CelsiusNetwork community here https://link.medium.com/...

• @golikehellmachi @golikehellmachi on x

  lol, translation: sorry, both us and our customers are boned https://twitter.com/...

• @mayazi Maya Zehavi on x

  The Celsius take - “our lawyers told us to shut up, so we're done communicating with the clients we rugged.” OTOH i noticed some of their stellar employees have already secured new positions in the crypto space https://blog.celsius.network/ ...

• @ahcastor Amy Castor on x

  Looks like Mashinsky has suddenly found himself very busy handing over information to the regulators. https://twitter.com/...

• @cameron Cameron Winklevoss on x

  Ok, bitcoin under 20k feels like an over-rotation. The underlying fundamentals, adoption, and infrastructure have never been stronger. We saw the irrational top. This feels irrational in the other direction.

• @nayibbukele Nayib Bukele on x

  I see that some people are worried or anxious about the #Bitcoin market price. My advice: stop looking at the graph and enjoy life. If you invested in #BTC your investment is safe and its value will immensely grow after the bear market. Patience is the key.

• @saylor Michael Saylor⚡️ on x

  If you don't stand for something, you will fall for anything. #Bitcoin

• @ercwl Eric Wall on x

  How do we as an industry—apart from staying clear from undercollateralized algostables—best ensure that a 3AC moment does not happen again?

• @cryptohayes Arthur Hayes on x

  #Bitcoin, are you okay? So, Bitcoin, are you okay? Are you okay, Bitcoin? You've been hit by- You've been struck by- The Central Banker https://twitter.com/...

• @jason @jason on x

  I would be very interested to see what crypto tokens @a16z bought and when, if at all, they sold them. @cdixon is this kind of information public or aggregated anywhere? should it be?

• @pjacaytonphd @pjacaytonphd on x

  What gives value to Bitcoin? Speculation? Fk that. Real currencies can be pegged to the economic viability of issuing countries. USD to US activities, Russian Rubles to Russia, and the Yuan Renminbi to the PRC. Cryptocurrencies? To what? https://twitter.com/...

• @sasha35625 Sasha Ivanov on x

  I guess it's time to buy! https://twitter.com/...

• @briannawu Brianna Wu on x

  Bitcoin plummeted to $18,739. In November it was worth $67,802. I think there are a lot of people like me who were curious about Bitcoin and bought some, but came to the conclusion it's a scam. They're cashing out for good. https://www.wsj.com/...

• @alfonslopeztena @alfonslopeztena on x

  Crypto Crash: all Ponzi schemes topple eventually — There are no standards for risk management or capital reserves. There are no transparency requirements. Investors often don't know how their money is being handled. Deposits are not insured By @RBReich https://www.theguardian.co…

• @robertwiblin Robert Wiblin on x

  Counterpoint: currencies are priced on a smooth continuum and there are no such ‘thresholds’. https://www.ft.com/... https://twitter.com/...

• @ericlaw Eric Lawrence on x

  Cameron is so close to learning what “Fundamentals” means. https://twitter.com/...

• @ben_mckenzie Ben McKenzie on x

  Exactly this. Thank you ⁦@RBReich⁩ for speaking out on this https://www.theguardian.com/ ...

• @levinepmc Norman Levine on x

  This era's Tulip Bulbs. A scam that lots of people with no investment knowledge were drawn into due to hype and FOMO. Sad. https://www.wsj.com/...

• @sbf_ftx @sbf_ftx on x

  biggest things here aren't making sure no one ever goes under—it's making sure: 1) it's not to unsuspecting retail 2) risks properly disclosed 3) no contagion this basically means — it's one thing to have insto <> insto credit, but another to have deceptive credit vs retail https…

• @brianlfrye Brian L. Frye on x

  You are always betting on whether people will want to own this piece of nothing more in the future than they do today. And that's ok. https://twitter.com/...

• @mikeolson Mike Olson on x

  “Fundamentals” and “feels like.” https://twitter.com/...

• @ianbetteridge Ian Betteridge on x

  “People have forgotten what unregulated markets are like. They assume a century of pretty good securities regulation, and the orderly markets and general prosperity that flowed from that, are normal — because it's all they've ever known.” https://davidgerard.co.uk/...

• @bigseanharris Sean Harris on x

  Irrational top? It hit it twice. That's not irrational. https://twitter.com/...

• @dlacalle_ia Daniel Lacalle on x

  “What we're seeing is more liquidations driving prices and sentiment lower, which triggers more liquidations and negative sentiment — some flushing-out needed still, but this will at some stage exhaust itself” @NoelleInMadrid in @business via Bloomberg https://www.bloomberg.com/.…

• @sdonnan Shawn Donnan on x

  Just watched that Larry David ad on national TV urging people not to miss out on the next big thing... https://twitter.com/...

• @bqprime @bqprime on x

  #Bitcoin tumbled as much as 15% to $17,599 on Saturday, recovering some of those losses earlier today. #Ether fell as much as 19% to $881, before climbing 11% to $1,005. https://www.bqprime.com/...

• @fintechintern @fintechintern on x

  @twobitidiot ... - Editor-at-Large @TheBlock__ - 3AC pitched their GBTC trade “to everybody” - 3AC offered multiple projects “treasury management” - Clear 3AC recently tried to get as much capital as possible into their various subsidiaries GBTC Scoop: https://www.theblock.co/...

• @katienotopoulos Katie Notopoulos on x

  There is a beautiful “irrational bottom” joke here for someone who is absolutely not me to make, I beg you please someone do it https://twitter.com/...

• @apompliano @apompliano on x

  “Bitcoin's price sits at the lower bound of its production cost for the first time since the March 2020 liquidity crisis as well. The idea here is that Bitcoin should at minimum be worth the cost of energy to produce it.” - @WClementeIII https://twitter.com/...

• @business @business on x

  Total liquidations in the crypto market were $566.7 million in the past 24 hours https://www.bloomberg.com/...

• @chhopsky @chhopsky on x

  the “The Plan Was To Leave Someone Else Holding The Bag” crowd realizing they got left holding the bag https://twitter.com/...

• @100trillionusd @100trillionusd on x

  And there it is: dark blue (70% below ATH)! Most indicators (S2F, RSI,200WMA, Realized etc) are at extreme levels. Does that mean that all indicators are “invalidated” “debunked”? No. Investing is a game of probabilities and indicators give situational awareness: BTC is oversold.…

• @krisnova Kris Nóva on x

  🍿 🔥 https://twitter.com/...

• @twobitidiot @twobitidiot on x

  Bitcoin will be fine. Smart contracts will be fine. DEX will be fine. NFTs will be fine. DAOs will be fine. Lenders, shitty funds, charlatans, scammers, they're all going to die. Then we can get back to work and start the next cycle off a higher low.

• @bigtechalert @bigtechalert on x

  👀 @brian_armstrong (CEO of @Coinbase) is no longer following @levie

• @bigblackjacobin Edward Ongweso Jr on x

  yeah fundamentals like *squints* stablecoins incentivizing adoption by offering high yield interest accounts paid for with speculative bets & gambles in other parts of the ecosystem or *squints again* the largest stablecoin lying for years about reserves pegging it to the dollar …

• @smdiehl Stephen Diehl on x

  Crypto has no fundamentals, it has no income, and it generates nothing. It's a pure manifestation of the theory of the greater fool. https://twitter.com/...

• @mrinaldesai @mrinaldesai on x

  Sore of value? https://twitter.com/...

• @pr0blematicswag @pr0blematicswag on x

  The whole point of crypto was supposed to be that it was free from regulation. Instead, Cryptobros who gambled everything on a volatile asset based entirely on speculation and harassed anyone that warned them about said volatility lost everything, for which I have zero sympathy. …

• @tomgara Tom Gara on x

  Counter-cyclical take: the question about how useful cryptocurrencies or blockchain tech will turn out to be wasn't answered when crypto prices were sky high and it doesn't get answered when crypto prices crash either

• @grady_booch Grady Booch on x

  IMHO, Cameron, anything over $0 feel irrational. https://twitter.com/...

• @kylebrussell Kyle Russell on x

  Worsening as the day goes on https://twitter.com/...

• @charlesarthur Charles Arthur on x

  “What have you done to my reactor?” https://twitter.com/...

• @levie Aaron Levie on x

  The reason why it's important to look at web3 flaws in a down market is because the flaws don't seem as believable in an up market. In an upmarket if you buy a token and tell a friend to join a network, everyone's happy. In a down market, it's very hard for the network to spread.

• @tomgara Tom Gara on x

  One way to think about bitcoin is it's an Uber-esque mega unicorn startup that IPO'd in like 2017, everyone who was in before then are the early employees who made out like absolute bandits from their stock options, everyone since then are basically retail investors https://twitt…

• @noahpinion @noahpinion on x

  If you bought Bitcoin on December 15th, 2017, you are now in the red.

• @thestalwart Joe Weisenthal on x

  Bitcoin has fallen below its 2017 peak. First time in its history, its fallen beneath the peak of a previous halving cycle. Not that there's been any doubt, but the halving concept has been unambiguously debunked. No need to debate it anymore. https://www.bloomberg.com/... https:…

• @charlesarthur Charles Arthur on x

  Bitcoin enthusiasts seeing its price bumping down towards $18.5k, having dropped below $20k today. https://twitter.com/...

• @asilbwrites @asilbwrites on x

  my money don't jiggle jiggle, it drops below 20k https://twitter.com/...

• @simonw Simon Willison on x

  “These guys are just not very bright. But in a bubble, everyone looks like a genius.” https://twitter.com/...

• @levie Aaron Levie on x

  It's like mitosis for made up things https://twitter.com/...

• @hblodget Henry Blodget on x

  Bitcoin decline unusually smooth and steady. Seems like big sellers trying to reduce leverage/exposure gradually, so as not to completely crush the price. Of course, there are buyers on the other side of all those trades... https://markets.businessinsider.com/ ... https://twitter…

• @kylebrussell Kyle Russell on x

  Ethereum back to trading in the triple digits

• @peterschiff Peter Schiff on x

  Now that #Bitcoin has collapsed below $20K and #Ethereum below $1K, at least one person on @CNBC should apologize to their viewers for all the one-sided coverage and bad investment advice. As Bitcoin plunged 73% and Ethereum 83%, CNBC pumped #crypto non-stop the entire way down.

• @allnick @allnick on x

  ETH < $1000 Think I'll sleep in thank you!

• @chhopsky @chhopsky on x

  absolutely incredible seeing the people who blew up their lives and credibility to leave tech or games for crypto now starting to scrub it from the internet, leaving a wasteland of deleted tweets and resume gaps on linkedin

• @poorlyagedstuff @poorlyagedstuff on x

  cryptocurrency

• @crypto_birb @crypto_birb on x

  Shoutout to every person, trader, project, and firm who are not giving up on crypto. Many will likely find themselves in revulsion, and complete resignation in the next weeks. However, the patient investors or contrarians may consider these prices once-in-a-lifetime gift #Bitcoin…

• @wifeyalpha @wifeyalpha on x

  I have no remorse for Saylor! He gave advice to people that have little to no financial markets / finance experience and told them to sell their family home and/or business to buy bitcoin at the top of the bull market. This is account could not be more the inverse. Family first.

• @ashwsbreal @ashwsbreal on x

  Don't worry guys only 750 days left for next bitcoin halving. We will pump hard 🚀

• @btc_archive @btc_archive on x

  #Bitcoin just dropped below the previous cycle high for the first time ever!

• @bbtc @bbtc on x

  #Bitcoin Price: $19,500 📉 https://twitter.com/...

• @bitcoinmagazine @bitcoinmagazine on x

  #Bitcoin has been declared dead over 400 times https://twitter.com/...

• @spectatorindex @spectatorindex on x

  Bitcoin price 18th November, 2021: $60,400 Now: $19,200

• @gainzxbt @gainzxbt on x

  very cool finding out crypto is a casino where institutions are levered to the tits 👍

• @awice Alex Wice on x

  mental math with $btc will be a lot easier when its 10k

• @chubbicorn219 @chubbicorn219 on x

  $0 $0

• @cobie @cobie on x

  Things got really bad after Vitalik made airplane sounds on our podcast

• @grady_booch Grady Booch on x

  Burn it to the ground and fling its ashes into the center of the sun. https://twitter.com/...

• @tommackenzietv Tom Mackenzie on x

  Bitcoin Falls Below $20,000 for the First Time Since 2020 - bitcoin has fallen for 12-straight days - total crypto market cap now around $880B vs $3 trillion in Nov https://www.bloomberg.com/... #btc

• @gossithedog Kevin Beaumont on x

  https://twitter.com/...

• @loopifyyy @loopifyyy on x

  1,000 ETH for $1M sounds cheap

• @liron Liron Shapira on x

  BTC has now fallen below the *previous* cycle's peak of $19,783 on Dec 18, 2017. Unwinding back a whole cycle has never happened before.

• @nope_its_lily Lily on x

  No one who has held bitcoin for 4.35683382 years or longer has lost money.

• @fintechfrank Frank Chaparro on x

  If you bought Bitcoin at the top of the 2017 bull market you're down on your investment about 2.7%

• @nope_its_lily Lily on x

  At least we all learned valuable marketable skills taught by crypto trading in the 2020-2021 era that should easily transfer to other jobs like shitposting, combing chat groups, waiting in virtual lines to buy pictures, & giving lots of money to sketchy websites to win lottos.

• @emilyjnicolle Emily Nicolle on x

  crypto amirite https://twitter.com/...

• @davidgerard @davidgerard on x

  I bring good news for bitcoin https://twitter.com/...

• @mspro Michael Seemann on x

  lol https://twitter.com/...

• @lawmaster @lawmaster on x

  🫡

• @route2fi @route2fi on x

  Waking up to 3 digits $ETH and $BTC at $18K. The worst part about this is how many people will leave the space now, and never come back. “I knew crypto always was a scam”.

• @ashwsbreal @ashwsbreal on x

  Just bought so much #BTC at $18,900 and #ETH at $980

• @wublockchain Wu Blockchain on x

  In the last hour, Bitcoin fell to a minimum of $19,200, Ethereum fell below $1,000, and the total market value fell below $900 billion. The Nasdaq is down 5% in the latest month, but Bitcoin is down 34%. The liquidity crisis caused by the lending institutions has caused panic.

• @twobitidiot @twobitidiot on x

  🤮

• @alexhern @alexhern on x

  Is that good https://twitter.com/...

• @charlesarthur Charles Arthur on x

  Uh-oh. That is the tide going RIGHT out. I had the feeling that $20k was a sort of resistance price for Bitcoin - that there were lots of automated orders to buy if it hit that price, supporting it. If those are used up, we enter new (margin call) territory. https://twitter.com/.…

• @liron Liron Shapira on x

  Boom goes the dynamite https://twitter.com/...

• @malekanoms Omid Malekan on x

  Too much of the macro discussion around #crypto prices is Western-centric. Here's a good read on what's happening in LatAm, where the stakes are so much higher. https://twitter.com/...

• @luciacholakian @luciacholakian on x

  In Argentina, the fall of some cryptos doesn't seem to alter enthusiasts who believe that, in spite of the plummeting, it's still better than the peso. Our report on Latin America and crypto optimism with @andreapaolahg_ and @leomschwartz for @restofworld: https://restofworld.org…

• @cengizyar Cengiz on x

  The crypto crash is playing out differently in Latin America, where entrepreneurs and enthusiasts are accustomed to financial volatility. @leomschwartz @luciacholakian & @andreapaolahg_ explain for @restofworld. https://restofworld.org/... https://twitter.com/...

• @leomschwartz Leo Schwartz on x

  While cryptocurrencies have dropped 200% since Nov, the crash is playing out differently in Latin America, a region accustomed to financial calamity. Crypto offers a much-needed alternative, which makes it all the more dangerous. For @restofworld: https://restofworld.org/...

• @lobaestrangeira Renata Rodrigues on x

  “Other countries take these bear markets as a big tragedy,” said Carlos Mijares, a 25-year-old freelance graphic designer and crypto user from Caracas. “We see and live an economy from resilience.” Loved to see you here @LOReBitcoin ❤️ https://restofworld.org/...

• @yinkawrites Yinka Adegoke on x

  “I'd rather have a digital asset whose price goes up and down than a currency whose only real trend is down.” Bitcoin's story in economies like Argentina and Venezuela's is more complicated than in the West , finds @leomschwartz https://restofworld.org/...

• @jason @jason on x

  #cryptocontagion [ FTR: I think there are many great ideas in crypto/web3, but 95% of the projects are scams, run by incompetent people, and/or generally silly. This contagion/crash is going to be hard on many but will be good in the long run. Please be careful with your money ] …

• @briannawu Brianna Wu on x

  Good morning, another major crypto bank is halting withdrawals. This one is worth 2 billion. Banking is one of the most tightly regulated industries in America, and you'd go for jail for this if crypto weren't a fraud-for-all. https://babel.finance/...