🧠 PayPal gets greedy, Elon's not having it.

Seedphrase Daily 👋 Did you know ETH has a larger market cap than the Bank of China? Go run and tell your mom you're the future.

Today's Agenda 📓:

• 🚩PayPal: the best thing to happen to crypto

• 🤝 FTX: hero or secret villain?

• 😂 Kanye of the day

If you've been online this weekend, you probably heard about a power hungry monster that roams digital money.

We're talking PayPal.

They published a new Acceptable Use Policy (AUP) which prohibits "the sending, posting, or publication of any messages, content, or materials" that "promote misinformation."

Basically: If Kim Jong-un, PayPal, decides they don't like what you shared online, they're going to take $2,500 right out of your PayPal account. 😰

Of course, people were outraged.

This policy got DUNKED on by Elon Musk, who founded PayPal, to former PayPal president David Marcus, to Candace Ownes, to several senators.

👉 What happens next?

PayPal claims the policy was published "in error." We're not buying it.

Imagine a world where you tweet about the pandemic or about a president, and you get fined $2,500. Sounds scary, but it get's scarier.

Nightmare fuel: PayPal has had the capability to do this for years. They took down the new policy, but it does not change the fact they wield this much power. It makes you wonder: what are companies with this kind of power planning behind closed doors?

⭐️ Crypto is hope:

People are waking up to how much data and access they've given up online. PayPal just gave them a RUDE awakening.

We know the world is going more digital. The next generation will have to choose what that will look like. We're placing our bets that they won't want to sell their soul to the internet.

Enter crypto. The privacy and security of crypto is a no brainer in the world of Big Brother.

⚜️Golden Nugget: Take your money off PayPal, and short $PYPL.

Sam Bankerman-Fried has billions coming out of his ass while many corporations are hanging on for dear life.

FTX's new investment is paying $1.4B to buy Voyager's assets.

Remember Voyager? They filed for bankruptcy in June after giving a $670M loan to crypto hedge fund Three Arrows Capital, which was defaulted on. Ah, the good old days.

BTW- FTX isn't touching the 3AC loan.

4 Things to Consider:

Media is describing FTX as the superman that is coming to "save the day." But is this really a good thing?

1. Unregulated central bank: By bailing out the failures in the crypto market, FTX has become the de facto central bank of crypto. Except, there is no regulation.

2. King of the castle? This means a lot more centralized power. Think of it like Kellogg's. Kellogg's owns 25+ different "brands" of cereals, and also Cheez-It and Pringles. They can't be replaced, because they own so much of the market.

3. Let the losers die. A bear market it meant to wash out the bad players. Those who can't manage their balance sheets, don't have cash flow, or don't provide a valuable service. If we don't let the pawns die out, we can't start a new game.

4. Dad, can you pick me up? FTX is the father we never had, picking us up after taking one too many vodka shots. FTX is a beacon of hope. They've provided tons of liquidity to prevent companies going under, and stop further bleeding in the crypto market. But there's always a catch... What's the real plan here?

Not to mention, all this is very risky.

FTX has balls to play superman during a bloody bear market. Let's hope theres a good game plan and these moves will pay off.

That's all for today. Make sure to follow us on Instagram and Twitter for more up to date content!

See you tomorrow! ✌️💎

Meme of the Day:

Kanye comes for Zuck.

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