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Today’s edition is brought to you by Evolve Markets - the top place for leveraged trading of crypto, stocks, commodities, and forex in the most private and secure way. |
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GM. This is Milk Road, the daily newsletter that surfs the crypto waves with more style than a penguin in a tuxedo. |
Here’s what we got today: |
Twitter users are in danger 🚨 Graph of the Day: Weekly crypto funds flow report 📊 5 things you need to watch the rest of this week 👀 PayPal launches a new crypto “off-ramp” 🍪
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TWITTER USERS ARE IN DANGER 🚨 |
A few days ago, Vitalik Buterin - the founder of Ethereum and Milk Road hero - got hacked on Twitter. |
(turns out he bleeds just like the rest of us) |
Yesterday, we found out how it happened… |
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There were 2 big lessons: |
1/ Vitalik uses T-Mobile. |
(We’re deducting 20 Milk Points after seeing this…🤔 ) |
2/ Twitter users are vulnerable through their phone numbers. |
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Turns out there’s a big vulnerability on Twitter where hackers can bypass two-factor authentication and reset your password - just by using your phone number. |
So, what should you do? Remove your phone number from the app altogether. |
Here’s how: |
Go to “Settings” Go to “Your Account” Click on “Account Information” Click on “Phone” (if your phone number is connected, it should appear) If your phone number appears, delete it!
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P.S. - Twitter Blue users need to enter a phone number when they sign up, but this can be removed after the sign-up is complete. |
P.P.S. - There are rumors that Twitter Blue users who remove their phone numbers get limited features (i.e. you can’t participate in Community Notes, etc.) - but in our opinion, the trade-off is worth it. |
Milk Road Rule #56: Treat security like your teeth - keep ‘em clean or things get nasty! |
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GRAPH OF THE DAY: WEEKLY CRYPTO FUNDS FLOW REPORT 📊 |
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The latest Weekly Crypto Funds Report recently dropped. |
The results? $59M in total outflows. |
Here are some of the biggest takeaways: |
BTC saw the bulk of outflows, totaling $69M (giggity). To add salt to the wound, short-Bitcoin products saw inflows of $15M. ETH has become the “least loved digital asset” amongst institutional investors. ETH has seen $108M in outflows this year - 2x more than any other asset. (#2 on the list: Tron with $51M in outflows) Weekly trading volume is decreasing. According to the report, weekly trading volume dropped 73% compared to the week before.
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This was the 4th straight week that crypto funds have sold off more than they bought - bringing the total outflows to $294M. Ouch. |
Analysts believe this is due to a mix of regulatory worries and a recent recovery in the dollar strength. |
We’ll see if the streak of outflows gets broken next week. |
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5 THINGS YOU NEED TO WATCH THE REST OF THIS WEEK 👀 |
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Ladies and gents, the rest of this week is jam-packed with action. |
Congressional hearings. Token unlocks. Crypto events. Macro stuff. You name it. |
Lucky for you, we’ve got your back. |
Here’s a list of all the big things you NEED to be watching this week: |
September 12 (today): Gary Gensler - the head of the SEC and ACC (aka the Anti-Crypto Club) - is speaking before the U.S. Senate Banking Committee to argue why most cryptocurrencies are securities and why the SEC should be in charge of regulating the industry. September 13: The U.S. will release the Consumer Price Index (CPI) data for August. September 13: The Delaware Bankruptcy Court will vote on whether to approve/deny FTX’s liquidation plan. September 16: $APE (the native token for the Bored Apes ecosystem) will unlock 11% of its supply - worth $47.5M. It’s one of the biggest token unlocks of the year!
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On top of that, big crypto events like Permissionless II and TOKEN2049 are kicking off this week. |
Fun fact: Crypto projects usually drop big announcements like new products, services, etc. at these events. |
Not-So-Fun-Fact: Crypto prices usually drop during conferences. |
As always, we’ll keep you updated on all the big news that happens! (All you gotta do is check those inboxes) |
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BITE-SIZED COOKIES 🍪 |
ZKX, an omnichain perpetual exchange, has introduced its ZKX Appchain. This move is a key element of their long-term strategy aimed at bridging the gap between traders' performance and security. * |
PayPal is rolling out a new crypto “off-ramp”. The new feature will help users easily convert their crypto back into USD. |
Apple paid $5M to buy the rights to Michael Lewis’ upcoming book about Sam Bankman-Fried. The book is called Going Infinite: The Rise and Fall of a New Tycoon and will be released on October 3. |
Northern Trust is launching a new platform for institutional carbon credit transactions. The global financial services firm is looking to bridge the gap between institutional buyers and project developers. |
SushiSwap is expanding to the Aptos blockchain. The popular decentralized exchange will soon be available on Ethereum and Aptos. #2Chainz |
Bitget (a crypto exchange) is launching a $100M fund called EmpowerX.The fund will invest in crypto exchanges, data analytics firms, media companies, and more. |
*This is sponsored content |
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MILKY MEMES 🤣 |
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HIT THE INBOX OF 250K+ CRYPTO INVESTORS |
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What'd you think of today's edition? |
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ROADER REVIEW OF THE DAY |
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VITALIK PIC OF THE DAY |
| Milk Road Images @MilkRoadImages | |
| Bucket hat game: 12/10 | | | Sep 12, 2023 | | | | 0 Likes 0 Retweets 0 Replies |
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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. |