🧠 Do you have money in CoinBase?

October 03, 2022

Seedphrase Daily 👋 We're here to make it make sense. Remember, you can always email us questions too.

Today's Agenda 📓:

  • 🧠 A huge warning of economic collapse.

  • 🚩 Do you have money in CoinBase?

  • 🌱 NewSeeds

🧠 Everything you need to know about this financial crisis.

Some Brief History. 📖

It's been 13 years since the financial crisis of 2007-2008. A lot has changed since then....right?

Back in '08, Lehman Brothers (4th largest investment bank in the U.S. at the time) collapsed and filed for bankruptcy. It was the catalyst for the economic crash.

The'08 financial crisis is what inspired Satoshi Nakamoto to create Bitcoin. The flaws of fiat, government, and the money printer were too big to ignore anymore.

OK, good history lesson.

Now, fast forward to the pandemic of 2020.

Governments across the globe said fuckit and started printing insane amounts of money to soften the blow of shut downs.

Now, the world economy is catching up. INFLATION! (a surprise to no one.) SO, interest rates are aggressively being raised. This causes labor to shrink because business' can't borrow money. It causes the housing market to shrink too. Sounds a lot like a recession doesn't it..

THIS IS NOTHING NEW

You know this. Every empire goes through the same thing, the Netherlands in the 1600s and Great Britain in the 1800s. It's just the USA's turn now.

What's happening now? 👇

The world economy is not healthy.

As Europe heads deeper into an energy crisis, energy and gas prices continue to reach record highs. Inflation in many countries are at 40-year highs, supply chains are fractured and backed up, equity markets are losing significant value (SP500, Dow Jones, NASDAQ), and potential WW3 with the war in Ukraine.

The icing on the cake: 🎂

Credit Suisse and Deutsche Bank, two of the world's largest banks, are suffering from distressed valuations. And their credit default insurance levels are approaching the alarming levels of 2008.

A $4.1B gap must be filled to ensure the financial institution's well-being.

Sounds very familiar to 2008…

Credit Suisse CEO stated the company is facing a "critical moment" but is "reassured" that the company has substantial capital and liquidity position.

They are overleveraged on Credit Default Swaps (CDS), which makes them highly likely to be liquidated and default on these swaps.

Analysts Thoughts: 🧠

Many analysts believe they are going under.

Although it's not official, companies going bankrupt never want to announce they are bankrupt until the last moment.

If it does happen, the world economy will collapse. Housing markets, equity markets, and people's 401k will be destroyed due to the banks losing their money.

What does this mean for you? 🧐

"The time to buy is when there's blood in the streets." -Nathan Rothschild.

In times of financial crisis, cash is king and should take up a large portion of your portfolio.

Currently, Bitcoin remains stable at $19,250 with a market cap of $369 billion.

And if everything goes to shit, bitcoin will go to shit. Breaking the 18k support could lead to 13k and lows of possibly $6k. I smell blood. 🩸

My plan. 🤝

I'm leaving 40% of my assets in cash then I will DCA into dips.

If you want to see the coins I'm going to be averaging in, check out last week's newsletter, where we listed 7 coins that will survive this massacre.

🚩 Do you have money in CoinBase?

On Sunday, Coinbase account holders with U.S. bank accounts could not conduct withdrawals to their bank due to ACH withdrawals, deposits, and buy failures.

This is a MAJOR RED FLAG. And like we said in the last story, they will never announce its end until it's too late.

🛑 Precautions for you 🛑

If you have money in Coinbase, move it to cold storage or a self-custody wallet.

I wouldn't be surprised if big crypto players also get washed with everything happening in the world. The space moves faster than the flash, with companies coming and going even during the bull market.

Be safe and question everything. 🤝

🌱 NewSeeds

Net Bitcoin ATMs growth drops globally for the first time. Everything is pointing to a crash. I hate to burst your bubbles. 🛁

How PussyDao is using Solana NFTs to sell physical underwear. LMFAO copped me some pussyDAO undies. 😹

😳 Meme of the Day

Hopefully this cheers you up.

DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research

Reply

or to participate.