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- 🥜 Don't fall for this crypto scam...
🥜 Don't fall for this crypto scam...
PLUS: Liquidity Returning to Crypto
GM to all 16,083 of you. Crypto Nutshell #135 trottin’ thru. 🐩 🥜
We’re the crypto newsletter that won't twist your mind like a detective trying to capture a serial killer who uses the seven deadly sins... 🕵️♂️📦
Today, we’ll be going over:
🚨 Don’t fall for this scam
🦚 The beauty of Bitcoin
🌊 Liquidity is returning
💰 And more…
MARKET WATCH ⚖️
Prices as at 5:00am ET
Only the top 20 coins measured by market cap feature in this section
DON’T FALL FOR THIS SCAM 🚨
BREAKING: Fake Ledger Live app detected on Microsoft’s app store, $588K stolen
On-chain detective ZachXBT was first to report the scam that resulted in 16.8 Bitcoin ($588,000) being stolen.
The app has since been removed from the Microsoft store.
However there has been no word from Microsoft or Ledger on the matter at the time of writing.
Community Alert: There is currently a fake @Ledger Live app on the official @Microsoft App Store which was resulted in 16.8+ BTC ($588K) stolen
Scammer address
bc1qg05gw43elzqxqnll8vs8x47ukkhudwyncxy64q— ZachXBT (@zachxbt)
12:29 AM • Nov 5, 2023
Questions have been raised on how this fraudulent app made its way onto the Microsoft store. 🤔
The current app review process must be non-existent…
Will Microsoft compensate the victims? (probably not, but that would be nice to see)
The hacker is currently sitting on 13.5 Bitcoin ($474,000) with some having already been transferred out to other wallets.
To make matters worse, this isn’t the first time a fake Ledger Live app has been spotted on the Microsoft store.
Back in December and March, Ledger support put out a tweet alerting users to this scam.
Microsoft seriously needs to get their act together…
🚨 Hey #ledger users
Beware of fake Ledger Live apps published on the Microsoft Store👀
The only safe place to download Ledger Live is on our website👇
ledger.com/ledger-liveLedger will NEVER ask you for your 24-word recovery phrase ❌
Stay safe 🙏
— Ledger Support (@Ledger_Support)
8:22 AM • Dec 26, 2022
As a reminder to all our readers who use Ledger:
The only safe place to download Ledger Live is from Ledger’s own website
Never share your 24-word recovery phrase with anyone else
TOGETHER WITH VINCENT SPOTLIGHT 🔦
If you’re into crypto, there’s a good chance you want to be wealthy.
Not BMW wealthy, but Bugatti wealthy. 🏎️
Unfortunately, this isn’t the 70’s anymore. Investing in real-estate, bonds or index funds just won’t cut it anymore…
That’s where alternative assets come in.
Alternative assets can be anything from crypto to fine art, trading cards, wine or vintage cars. Investments that have the potential for massive returns.
The problem? There’s so many to keep up with…
That’s where VINCENT SPOTLIGHT comes in:
Breaks down the top opportunities in the alternative asset space ✅
Behind the scenes look into the highest alternative asset sales 🤑
Delivered straight to your inbox in a weekly in 4 min read 📨
Annnnd you guess it, they’re completely FREE.
Subscribe now by slamming that big subscribe button below, the alternative asset market awaits… 💰
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THE BEAUTY OF BITCOIN 🦚
Every 4 weeks, CEO & Founder of ARK Invest, Cathie Wood, records an “In The Know”.
It’s a ~45 minute review of the market and macroeconomic conditions.
In today’s breakdown, she broke down the true beauty of Bitcoin.
Cathie believes 2023 was a pivotal year for Bitcoin.
Why?
Bitcoin moved up during a very important ‘risk-off’ moment.
During the regional banking crisis in March, Bitcoin shot up from ~$19,000 to ~$30,000.
Why?
A ‘flight to quality’ as Larry Fink would say.
Or as Cathie Wood puts it: ‘a flight to safety’.
Unlike other places to store your wealth, Bitcoin has no counter-party risk. (If you custody it yourself!)
This is significant because Bitcoin has always performed as a ‘risk-on asset’.
When markets are feeling good and liquidity is high, Bitcoin out-performs.
But 2023 has shown that Bitcoin will also out-perform in risk-off periods.
“I think more people are beginning to understand that this is not just a risk-on asset. When the markets are feeling really good, Bitcoin tends to do very well. But can you believe it's also a risk-off vehicle! More and more investors, including institutions, are beginning to understand this.”
No matter which way you slice it, Bitcoin is poised to out-perform. That’s the beauty of Bitcoin. 🍰
“This is innovation at its best.”
LIQUIDITY IS RETURNING 🌊
Today we’ll be taking a look at the stablecoin market.
Stablecoin’s play an important part in the wider crypto market. They are often used on centralized and decentralized exchanges to purchase other digital assets.
By taking a look at the change in the stablecoin market cap, we can gauge the general demand of digital assets.
🟢 Increased stablecoin supply: increased demand and capital inflows into the digital asset space 🐂
🔴 Contractions in stablecoin supply: risk-off environments and net capital outflows from digital assets 🐻
The aggregate stablecoin market cap peaked at $162 Billion in 2022. Since then it's been on a slow downward trajectory.
However it appears to have bottomed out.
For the first time since April 2022, the supply of stablecoins has seen a net increase. As of today the market cap is at $120 Billion.
This growth in supply has coincided with Bitcoin’s recent price rally to $35,000.
It appears on-chain liquidity is returning to the digital asset space. Take a look at how much the stablecoin market cap increased during the bull market of 2021…
Top 5 stablecoins by market cap (Tether absolutely dominates the stablecoin market):
USDT: $85.43B
USDC: $24.57B
DAI: $5.35B
TUSD: $3.34B
BUSD: $1.90B
Bottom Line: A growth in stablecoin supply is another bull market indicator.
For the first time since early 2022, capital is flowing back into the crypto space.
Although it’s only a small increase (so far), this is definitely one chart to keep an eye on.
going on record. as of 10/27/23, I believe that the supply of stables has bottomed and will be Up Only from here.
reason being: crypto markets recovering, increased uptake of stables via fintechs/neobanks, new interest-bearing stables passing along t-bill rates, and emergence… twitter.com/i/web/status/1…
— nic 🌠 carter (@nic__carter)
6:49 PM • Oct 27, 2023
CRACKING CRYPTO 🥜
WHAT WE’RE READING ✍️
Want to get even smarter? Check these out.
p.s. all completely FREE
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CAN YOU CRACK THIS NUT? ✍️
A __________ is an automated computer program that is hosted and executed on a blockchain.
A) Cryptocurrency
B) Smart phone
C) Decentralized Autonomous Organization
D) Smart contract
Find out the answer at the bottom of “Meme Corner” below 😀
MEME CORNER 😂
Because what would the crypto world be without its share of memes?
Trivia Answer: D) Smart contract 🥳
Smart contracts are simply programs stored on a blockchain that run when predetermined conditions are met.
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DISCLAIMER: The content of this newsletter is not financial advice. This newsletter is strictly educational and is not investment advice. Please be careful and do your own research
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