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Health, Wealth, and Happiness

February 02, 2024

"Investing in crypto is like being married: you have to keep going through the good and the bad, for better or for worse, for richer or for poorer, 'til death do us part. HODL."


- Najah Roberts

Howdy, investors!



  • If you lost money to Celsius or FTX, there's good news: Both platforms are set to begin distributing assets to creditors. Read on.


  • Tether is also becoming more transparent about its finances, reporting a jaw-dropping $2.9 billion profit in Q4 2023.


  • Airdrop farming has been quite profitable for early users, but is it worth it for most people? We highlight an X thread that suggests it is.


Read on to explore more!

True Stories of Diamond Hands

by John Hargrave

I enjoyed the film Dumb Money, which just came to Netflix. It tells the real-life story of Keith Gill, a.k.a. “Roaring Kitty” on Reddit, who led millions of ordinary investors to power the GameStop short squeeze in 2021, bringing down the mighty Melvin Capital hedge fund.


The tension in the film comes from all the average-Joe investors – and Gill himself – watching their net worth soar as $GME prices catapult in value. Their friends and family beg them to cash out, and you can feel how difficult it is for them to HODL.


The portrayal of Gill, played by Paul Dano, is surprisingly sweet and vulnerable. He’s not a “bro,” but a family guy suffering the same internal conflict as everyone else – along with his long-suffering wife, played by Shailene Woodley.


It’s a great investing story because it shows the power of believing in your investments, even when the rest of the world says you’re crazy. Here are some famous stories of other "diamond hands" who held when everyone else said sell.

Read the rest of the article here >>

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Must Read

Today's most important stories for crypto investors.

Celsius Begins Asset Distributions To Customers As Court Approves FTX’s Repayment Plan(The Defiant)

Celsius has begun distributing $3 billion in assets to creditors. This includes cryptocurrency, fiat, and stock in a new bitcoin mining company called Ionic Digital. Meanwhile, FTX received court approval to liquidate around $7 billion in assets to repay users. Investors should watch for repayment communications if they lost money to either firm.

Tether Reports Profit of $2.9 Billion in Q4 Attestation, with $5.4 Billion in Excess Reserves (The Block)

Stablecoin issuer Tether, a subsidiary of iFinex (which also owns the crypto exchange Bitfinex), reported a record $2.9 billion net profit in Q4 2023. Additionally, excess reserves rose by $2.2 billion to $5.4 billion. Tether's reserves as of year-end totaled around $97 billion, including $80.3 billion in U.S. Treasuries and $3.5 billion in gold, with liabilities at $91.6 billion.


While there were often questions about the financial strength of Tether in the past, these numbers suggest that investors can feel more confident in their USDT holdings.

The Midcurve Airdrop Fallacy (X)

This X thread by Taiki Maeda discusses the practice of airdrop farming in the cryptocurrency space (using a crypto platform in hopes it will reward early users with an "airdrop" of new tokens). Maeda argues that airdrops remain a lucrative opportunity, despite concerns that more tokens = more dilution.


Maeda's argument is more people complain about airdrops than take advantage of airdrops, making airdrops more valuable for those who take part. Our view is that airdrops can be profitable, but they take time and tech-savvy.

ICYMI
In Case You Missed It

The Future of Binance Under Richard Teng

Who is this guy replacing CZ?


Our Top Tokens: Blockchain Investor Scorecard Roundup

The top 3 tokens over the past five years.


The Real Housewives of Crypto

Why stability is better than volatility.


Beyond Bitcoin: Best Cryptocurrency ETFs for 2024

See our updated research on each.


Investor's Guide to Layer-2s

Which Layer-2 tokens are the best bet?

Chart of the Day

Which projects are making money?

Earnings are one of the key metrics we look at to determine the value being created by blockchain projects. (Think of it like revenue of a traditional company.)


As you can see, Ethereum is far ahead of its peers in this regard, giving an even stronger case for an Ethereum rally ahead of any potential Ethereum spot ETF.

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