Benji ₿

164,000 new Bitcoin will be mined in 2025. @MicroStrategy alone has purchased 182,391 Bitcoin YTD You do the math 🚀

A succulent Chinese meal? These are really getting out of hand 😂

Make no mistake, freedom of speech does not exist in the UK

I remember when I started working on wall street as an analyst. My boss would ask me to create a proof of concept or a product deck for a client. I would be working 3 days straight, 9am to like 5,6,7,8pm. Finally have the perfect POC ready to pitch to a client on Monday. AI can do that now in like 5 mins max. It's not even a difficult task at all. Kinda makes you feel retarded.

Thank you, Jarvis.

AI already replacing at least 60% of technical/B2B sales Funny part is you don't really get more free time. Just spin up another sales agent until you run out of credits

Binance ➡️ holds users assets 1:1, validated through proof-of-reserves, and fully reimburses their clients and users after security breaches Banks ➡️ maintain 0% reserve ratios, reinvest user deposits in risky loans and lobby for taxpayer-funded bailouts when their investments turn bad Not the same.

⚠️ PSA: While Bitcoin was "dumping" as a result of the Binance hack, ETF holders were left holding their bags unable to sell (with a few small exceptions). Imagine having to pay "management" fees for that 😂 They're lucky the broader ecosystem stepped in to stem the tide through freezes. People who COULD react immediately: Those holding spot BTC on crypto exchanges.

1. The ETFs literally use crypto exchanges as their Bitcoin custodians. 2. Not only that but they all primarily use one exchange (Coinbase) which represents one of the largest concentration risks in the whole Bitcoin ecosystem. 3. Binance froze the majority of non-BTC assets while covering BTC assets with their SAFU fund. On the other hand, Bitcoin ETFs are NOT fully insured in the event of a Coinbase hack. 4. Bitcoin ETF management + trading fees are easily nore expensive than buying on exchanges and then moving to cold storage. The Bitcoin ETFs are a black swan just waiting to happen

The Binance hack is a good case study in what can and cannot be frozen on-chain. How freezing works: Stablecoins like USDT and USDC have an admin “blacklist” built into each token contract. When an issuer blacklists an address, that token can no longer move from it. The address itself is not frozen: other tokens in the same wallet can still move. Every chain has its own contract, so issuers have to blacklist the address separately on each chain. Frozen does not mean returned. The issuer can later burn the frozen tokens and reissue them to the victim, usually through law enforcement. Already frozen: USDT (Ethereum): ~$1.38B verified on-chain across the main attacker address and downstream wallets (Tether reports $1.57B+ in total) USDC (Ethereum): ~$823M (Circle, in coordination with law enforcement) RLUSD: ~$200M (Ripple, per Binance co-CEO Yi He) Arbitrum: ~$30.5M (Arbitrum Security Council) USD1: ~$27M, plus ~$2M in WLFI (World Liberty) PAXG (Paxos Gold): $8M+ Paxos froze 1,906.67 PAXG in the attacker’s main wallet Not frozen yet, but can/could be: USDT moved before the freeze: ~$700M on Ethereum, though much of it has already been swapped into ETH USDT on Tron: ~$613M, not frozen per the latest on-chain data. Some trackers say it’s unclear whether this was the attacker or Binance moving funds. XAUt (Tether Gold): issued by Tether, which controls the contract wBETH: issued by Binance itself, which controls the contract Cannot be frozen: BTC: ~16,700-18,300 BTC (~$1.3-1.44B), with attribution still being confirmed ETH: ~197K ETH taken directly, plus more acquired through swaps TRX: ~46.4M Other tokens: UNI, ENA, LINK, AAVE and PEPE This explains why the attacker has been swapping stablecoins into ETH and borrowing ETH against USDT on Aave: they’re moving value into assets no one can freeze.