Aug 17, 2022 | Episodes, News
Bitcoin almost tips $25,000. Ethereum touches $2000. And Celsius has a massive run-up. Do Kwon of Terra Luna finally breaks his silence. The Fed has released new guidelines for crypto banks. And Vitalik says a potential Ethereum fork is not likely to succeed.
They say “no news is good news”. We say “our news is bad news… but it’s good. In a bad sort of way.”
News, views and corn, including a new original song called “Yes, it’s Corn” on our bad news episode #629 of The Bad Crypto Podcast.
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ARTICLES MENTIONED IN THE SHOW
Market Update:
Current Events:
Around the World:
AltCoin News:
Blockchain/Tech/Development:
Funny/Human Interest Stories:
NFT World:
Bad Crypto 5th Anniversary party – https://www.youtube.com/watch?v=sl5AyQyUQzY
Yes, it’s Corn
TIMESTAMPS
- 0:00 – Intro
- 02:30 – Bad Crypto Podcast celebrated five years of broadcasting the best in blockchain and cryptocurrency. You can check out the video of the festivities here.
- 03:40 – Crypto market cap $1.89 Trillion. Not sure why SHIBA and DOGE are seeing a run-up. We’re omitting the stablecoins from the news coverage; they’re around $1.
- 05:30 – Do Kwon is finally breaking his silence; happy or unhappy community resulting?
- 06:50 – Tornado Cash developer arrested; FBI raids a former president’s house; IRS arming tax men with assault rifles. Taxation is theft; it has to happen at the point of a gun.
- 07:50 – If the FBI is disbanded, it will just merge with the IRS. The IRS has no oversight committee; they are autonomous.
- 09:30 – Federal Reserve releases new guidance on cryptocurrency banking; a 49 page document with a specific reference to cryptocurrency once.
- 10:37 – 3AC mismanaged billions of dollars, yet their co-founders faced scrutiny even when they were involved in forex trading.
- 13:00 – Coin Center plans to challenge the Tornado Cash sanction.
- 16:15 – The Ripple lawsuit continues
- 18:10 – Miami hotel and residency tower accepting cryptocurrency through FTX US partnership
- 20:00 – A judge ruled Twitter must release the documents Elon Musk is requesting. We’re going to find out Twitter is loaded with bots and fake accounts. Curious to see how many real followers you have, use this: https://sparktoro.com/
- 23:15 – Amazon intends to acquire iRobot; the home cleaning appliances. Amazon already knows so much, with recent purchases of RING, a WiFi Router maker, and now a robot viewing everything in your home.
- 24:00 – The United Nations has proposed a set of policy actions to curb the use of cryptocurrency in developing countries. Crippling access to financial instruments to the people who need it the most.
- 26:00 – Celsius on pace to run out of cash by October 2022. Not sure why the Celsius token took off in the last few weeks, but looks like this news led to a correction. Celsius got as low as $0.19 in June, bouncing back to $4.37 last week. Celsius has a new theme song now; MC Hammer’s “Can’t Touch This”.
- 28:52 – The New York Times is asking TikTok to ban certain hashtags because election misinformation thrives ahead of the midterms.
- 31:20 – Solana under attack again.
- 31:40 – Vitalik says the upcoming Proof-Of-Work fork is unlikely to have substantial long-term adoption.
- 32:45 Animoca Brands and Lympo are building a blockchain-based, chess game.
- 33:52 – Best Metaverse Performance category for MTV’s Video Music Awards
- 36:20 – NFT projects shouldn’t be referenced as “blue chips”; they haven’t been around long enough for the designation
- 37:33 – Brands are onboarding to NFTs and Web3; Starbucks is the latest.
- 39:29 – World Premier of new song, “Yes, It’s Corn”
- 41:10 – Outro
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Jun 20, 2022 | Blog, Episodes, News
Bad News in Space(s) for June 19, 2022
From time to time, we do a news-centric episode of this show. Five years into this podcast and we still like to experiment with new ideas. At the behest of Sir Lord Travis, we decided to do news in a LIVE Twitter Spaces this week. Not only did we cover important stories, but we invited some in the audience to share their thoughts as well. Thanks to Twitter we have the replay, and are pleased to bring it to you now in an edited format. It’s Bad News done a little less bad as you get all up in our Spaces on episode #616 of The Bad Crypto Podcast.
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Joel and Travis are speaking on Day ONE (June 21, 2022) of NFT.NYC events at Radio City Music Hall. Sir Lord Joel is also emceeing the afternoon events that day. The blockchain blockheads will be sharing their elements included in a successful NFT launch from the main stage. Hope to see you there!
Coingecko.com – a look at the current cryptocurrency market conditions
The crypto market cap on June 19, 2022: $920 billion, down from $3 trillion. Travis would like to take a moment to mourn, yet Joel is looking for his next market entry opportunity.
BTC is down 32%; ETH is down 40%; those are painful numbers and has been a brutal week in the market.
$LUNA and $UST shook up the market as $LUNAs peg to $UST decoupled.
Celsius is struggling with their available liquidity, locking up customers’ assets and preventing withdrawals. Moderator Alt Mom mentions they have retained Citi Group, a U.S. Bank for advisement in managing their liquidity traumas, which Alt Mom suggests appears like a “honey pot”. “‘You can get money out, but you have to deposit first.’” WHAT?!
We have discussed these current events in detail in previous episodes, which you can access here:
Stablecoin LUNAcy with Brad Mills: badco.in/608
The Crypto Bear Market Redux?: badco.in/609
The Crypto Shit Show: badco.in/615
A Signapore-based crypto venture fund, 3 Arrows Capital (3AC), is unable to make a margin call, causing more instability.
So many firms were leveraged during the bull run and now we’re observing a market fallout that will determine which projects and entities will survive.
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Jun 9, 2022 | Episodes
Preaching the Gospel of Bitcoin with Crypto Jebb
Dearly Beloved, we are gathered together to get through this thing called a bear market. Crappy word, “bear”, but it’s not forever and that’s a good thing. I’m here to tell you there’s something more… the bull market. A world of never-ending enthusiasm and financial profits. You can always refresh your portfolio, day or night.
So when you call up that broker on Wall Street, you know the one – “Dr. Bitcoin and crypto are a ponzi scam” – instead of asking him how much time before the next halving, ask him how Bitcoin and decentralization are changing the world.
Cause during a bear market, things are much harder than in the bull market. But fortunately, in the bear market you aren’t on your own.
We’re pleased to welcome the one and only Crypto Jebb to the show to preach the good news, and to preach the better news.
And if the elevator tries to bring you down, just listen to episode #613 of The Bad Crypto Podcast.
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FEATURED GUEST
Jebb McAfee is a 21 year old asset trading prodigy who has built a thriving media company around his God given gift to empower his daily livestream audience with powerful market insights.
Jebb has diligently produced content for his audience every day. Through good times and bad, Jebb has inspired thousands of people to pursue financial sovereignty through cutting edge financial technology that is now accessible to everyone around the world.
In recent months, Jebb has taken a step back from leadership in his business to focus on the strength of his new family’s faith. Part of this new step for Jebb includes intentional conversations with fellow followers of Christ.
CONNECT:
Twitter: @CryptoJebb
Website: https://cryptojebb.com/
YouTube: Crypto Jebb
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Mar 13, 2022 | Episodes
Tax Time 2022 with Clinton Donnelly
Gather round all ye citizens of these United States of America. Once again, the taxman is about to come calling on you to render under Caesar that which is Caesar’s even if it is at the point of a gun. That’s right, April 15th is looming and it’s time to pay your taxes… or file your extensions.
In episode 595, we are pleased to welcome CPA Clinton Donnelly back to the show for his 3rd appearance, to provide us with the latest from the crypto tax law landscape. We talk about the crypto executive order, an important Tezos staking case, NFTs, Defi, and more.
So consider this your 1099 for episode #595 of The Bad Crypto Podcast.
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SHOW SPONSOR:
CryptoTaxAudit (CryptoTaxAudit.com) is a monthly membership service. We have a basic membership with breakthrough technology alerting crypto members as much as six months in advance if flagged for an IRS audit. We have a second membership, which provides insight into everything the IRS knows about you. And a third premium membership providing top audit defense specially designed for crypto owners’ needs. Visit our website to find out more at CryptoTaxAudit.com.
CryptoTaxAudit is the only tax audit defense service designed for crypto owners.
FEATURED GUEST:
Founder of Donnelly Tax Law, Clinton Donnelly, the Crypto Tax Fixer, solves complex US tax problems for crypto traders and Americans with assets abroad. With clients in 50 countries, Clinton Donnelly has prepared over a thousand tax amnesty returns. He has one of the few crypto tax law firms with experience defending crypto returns at an IRS audit. Clinton is currently defending 16 people against the IRS for their crypto tax returns.
Because of this unique audit defense experience, he goes beyond preparing a crypto tax return to anticipating how the IRS will select returns to examine for crypto traders. He includes the anti-money laundering reports and other advanced techniques to avoid audits and examinations. Clinton will prepare the type of bulletproof crypto tax return you’d wish you had if you knew you were getting an IRS audit.
If you receive an IRS letter about how you reported your crypto transactions, you will need crypto tax law experts. We have three memberships to choose from that can help before you receive an audit letter! Our premium membership is like an insurance policy protecting you from the huge expense of defending yourself.
CryptoTaxAudit (CryptoTaxAudit.com) is a monthly membership service. We have a basic membership with breakthrough technology alerting crypto members as much as six months in advance if flagged for an IRS audit. We have a second membership, which provides insight into everything the IRS knows about you. And a third premium membership providing top audit defense specially designed for crypto owners’ needs. Visit our website to find out more at CryptoTaxAudit.com.
CryptoTaxAudit is the only tax audit defense service designed for crypto owners.
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Aug 29, 2021 | Episodes
Tracking Altcoins with Richard Fetyko of altFINS
It was in 2017 during the ICO craze that this podcast was birthed. We’re not the only ones who jumped into the crypto madness four years ago. In episode 544, guest Richard Fetyko also saw the potential for blockchain around the same time. As the CEO of altFINS, Richard has built an online platform for screening and analysis of cryptocurrencies. The more you know the better you can trade. Become a better trader today on episode #544 of The Bad Crypto Podcast.
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SHOW SPONSORS
Do you want to Earn more on your crypto? Look no further. When you invest your digital assets with Matrixport’s one-stop financial platform app, you can choose from dozens of innovative investment products. Earn, save, trade & invest in one place. Learn how easy it is to earn 30% annualized yields on USDC. Download the Matrixport App now to earn 30% APY on USDC. Download the App today at badco.in/matrixport.
FEATURED GUEST
Mr. Fetyko is a Founder and CEO of altFINS (https://platform.altfins.com/), an online platform for screening and analysis of cryptocurrencies. He spent 14 years on Wall Street as an equity research analyst at investment banks like Janney Montgomery Scott, covering Internet and Tech sectors, and then 7 years as a portfolio manager at a family fund Twin Capital.
During his Wall Street career, Mr. Fetyko was ranked among top analysts for his coverage of the Internet:
Mr. Fetyko caught the crypto bug in 2017 during the ICO craze. Frustrated with a lack of robust analytical tools that he was used to working with (Bloomberg, etc.), he decided to develop one. altFINS launched in Beta last year and recently went live.
While many platforms focus on trade execution, liquidity, best price, etc, altFINS is unique in that it focuses on pre-trade analytics and workflow. It helps active crypto traders scan the market for trading ideas and create investment strategies.
It’s the only tool that uses AI to automatically detect chart patterns with predictions.
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