Did the Litepaper seem a little different over the past few weeks? Well, I was out for a bit – but I’m back and ready to go balls to the wall. 🧱
In today’s Litepaper, we’re looking at the alleged cost of a Boris Johnson interview, a crypto challenger to Elizabeth Warren’s Senate seat, and a Technically Speaking over Bitcoin.
And Do Kwon is coming to the US and a real (so far) pic of SBF’s prison buddies.
P.S. Over the next month, we’ll be transitioning our newsletter platform to Beehiiv. To help ensure our emails keep making it to your inbox, please whitelist newsletter@thelitepaper.stocktwits.com
Here’s how the market looked at the end of the trading day:
| Bitcoin (BTC) | $50,998 | -2.36% |
| Ethereum (ETH) | $2,910 | -3.40% |
| Total Market Cap | $1.881 Trillion | -3.09% |
| Altcoin Market Cap | $880 Billion | -3.12% |
Crypto
Let Me Reintroduce Myself
This is Jon Morgan; your Litepaper author, crypto evangelist, and sole crypto dood at Stonktwits. 👼
I’m like John Rambo, The Mandalorian, whatever Will Smith’s characters name is in I Am Legend, Neo, Skippy The Magnificant, Uma Whats-her-face in Kill Bill, Matt Hunter, the dad in the Taken movies, and Mad Max.
Like Gandalf the Grey coming back as Gandalf the White, I’m back and ready to fight.
And hit me up with some feedback so we can keep delivering the content you want! 🧙♂️
Tucker Carlson made waves with his claim that Boris Johnson, the ex-Prime Minister of the UK, had a hefty price tag for an interview regarding Ukraine—$1 million, to be exact, payable in U.S. dollars, gold, or $BTC. 🤯
During a discussion with Glenn Beck on Blaze TV (he’s still around?), Carlson recounted his surprise at Johnson’s demand, especially since he had just conducted an interview with Vladimir Putin for free. According to Carlson, Johnson had been critical of him, labeling him a “tool of the Kremlin,” which prompted Carlson to seek an interview with Johnson upon his return from Moscow.
Despite repeated attempts and leveraging his connections, it wasn’t until an adviser to Johnson got in touch, stating the interview would cost a million. 💰
Crypto
This Week’s Can’t-Miss Event
Real Vision is thrilled to share Crypto Gathering 2024: Don’t F*ck This Up Edition with Stocktwits.
It’s taking place online on February 22 and 23 and is completely free to attend!
Attendees will hear from a star-studded lineup, including Beeple, Raoul Pal, OSF, Austin Federa, and many more.
They’ve curated a special content watch list just for Stocktwits’ audience, so reserve your seat now!
Brad Garlinghouse, the CEO of Ripple, emphasized the importance of supporting crypto-friendly political candidates in a recent Bloomberg Crypto interview. 📺
He specifically called out Senator Elizabeth Warren’s anti-crypto legislation, which the Digital Chamber of Commerce has labeled “unworkable.” XRP attorney John Deaton has even launched a campaign against Warren, criticizing her for inefficacy and political posturing at the expense of Massachusetts’ interests.
This move comes as crypto exchanges, like Coinbase ($COIN), dial back on direct advertisements, focusing instead on enlightening leaders about crypto’s potential. Garlinghouse critiqued the general misunderstanding of crypto among politicians, pointing out the unfounded criticisms. With Ripple ($XRP), Andreessen Horowitz, and Coinbase pooling $25 million for the cause, the initiative aims to foster a regulatory environment conducive to crypto. 🗣️
My first Litepaper and first Technically Speaking since my short break and the transition to a new newsletter service have me swamped. 🥵
But there was no way I was not going to a Technically Speaking – so we’ll keep this one short and sweet.
The sad fact is that nothing goes up forever – even $BTC. Eventually, people will take profit. At the time of writing this Technically Speaking (1500 EST), the Tenkan-Sen at $50,610 is holding as support, and, most importantly, the large gaps between the bodies of the candlesticks and the Tenkan-Sen are resolved.
If the Tenkan-Sen fails to hold as support, the next support level is the Kijun-Sen at $46,414 – but after today’s daily close, it will probably shoot up towards the $48k value area.
We’ll have much more to review on Friday, with more sexy charts and setups to look at. Damn, I’m glad to be back! 😁
Not much needs to be said about this story. First, Do Kwon will be extradited to the U.S..
And then there’s this prison photo of SBF’s BFFs in prison:
Every day, users like you do something epic on the Stocktwits app or web. Here is today’s little dose of awesome, brought to you by user quant_guy.
And because we’re about safety at Stonktwits, get your arm floaties ready because you might get flooded with new followers and, unfortunately, once-in-a-lifetime investment opportunities to restore a deposed monarch, currently living in exile somewhere back to power.
Bullets
Bullets From The Day:
🕵️ Crypto Rover Embroiled in Controversy: It’s not every day that a crypto influencer with a battalion of followers gets caught with their hand in the proverbial cookie jar. ZachXBT, a Sherlock Holmes of crypto, has laid bare allegations that Crypto Rover, with an army of over 800,000 followers across platforms, may have played a less-than-stellar role in a project he was paid handsomely to promote. Allegedly ghosting the project post-payment and dabbling in pump-and-dump schemes, Rover’s reputation is now navigating a minefield. The silence from Rover’s camp? Deafening.
🤦♂️ Arthur Hayes Throws Shade at Cardano: In the latest episode of “Crypto Titans Clash,” Arthur Hayes, BitMEX’s prodigal son, has bestowed upon Cardano ($ADA) the unenviable title of “dog shit.” Leveraging data that suggests ADA’s dApp ecosystem is more of a ghost town than a bustling metropolis, Hayes threw down the gauntlet, challenging Charles Hoskinson to a duel of wits. Hoskinson’s response? Less ‘Braveheart’ and more ‘Let’s be friends.’ The Cardano faithful, however, aren’t taking it lying down, highlighting strides in DeFi and innovations galore.
🚀 Michael Saylor: Bitcoin’s Forever Champion: Michael Saylor, the crypto crusader who might as well have “Bitcoin” tattooed on his forehead, remains unshaken amidst market turbulence. MicroStrategy’s ($MSTR) treasure chest brims with over 190,000 BTC, a testament to their belief in Bitcoin’s supremacy over, well, everything. Saylor’s vision extends beyond mere accumulation; he sees 2024 as Bitcoin’s coming-of-age party, with spot ETFs as the guest of honor. To Saylor, Bitcoin is his and MicroStrategy’s exit strategy. And he’ll be buying the top forever.
🔮 Quantum Economy: The Next Frontier According to David Orrell: David Orrell, an economist with a penchant for predicting crypto trends, now ventures into the realm of quantum economics. Orrell’s vision extends the utility of quantum models beyond the theoretical, arguing they could revolutionize how we understand and interact with the market’s ever-shifting sands. Meanwhile, quantum computing looms large, promising to redefine security and encryption standards.
Links
Links That Don’t Suck
👫 Coinbase: every institution is starting to hold crypto
📲 Tinder introduces passport-scanning ID checks for UK users
🤲 Why the future of crypto hinges on user-friendly KYC verification
🪬 Virginia Senate Proposes Funding for AI and Cryptocurrency Commissions
🕹️ Sony to release a ‘Pro’ version of the PlayStation 5 this year after cutting outlook, analysts say
Say Hello
💻 Questions? Comments? Email Jon at jmorgan@stocktwits.com 💻