Doodhwala Daily

Home
Doodhwala Daily

Taaza 2-minute crypto news straight to your email and into your veins.
(1)

14/09/2023

Yesterday was HUGE! 🔥

Bitcoin hit a new high? Nope.

Elon tweeted bout Doge again? Nah.

Aliens said they love doodh? Not yet.🥛

Then what? → Coinbase X Lightning 🚀

Wtf is Lightning really?

It's a Layer-2 protocol, built on top of Bitcoin.

Designed for quick microtransactions without the need to broadcast everything on the main L1 chain - Bitcoin network.

The idea is to open a payment channel, do your transactions, and then close the channel. All without making every transaction public.

Now, here's the full story: 📖

A while back, big exchanges, like Coinbase and Binance, didn't want to use Lightning. 🚫

They thought it wouldn't help them earn more money.

But things changed! 🔄

Brian Armstrong, CEO of Coinbase, said they're going to use Lightning to make Bitcoin better.

Why?

Big names, like Michael Saylor and Jack Dorsey, were poking Armstrong with a stick, asking, “Why do you ignore Bitcoin?”

The Bitcoin maxis are really happy about this!

This is the 3rd time when they’re so happy.

First was when they got to know about Bitcoin. 🟠

Second was when they got to know about Doodhwala.🥛

And third is now.

What about Binance tho? 🤔

Binance started using Lightning a bit earlier, on July 17, 2023.

Some other exchanges using Lightning: 🌍

Bitstamp - 2019.

Bitfinex - 2020.

OKEx and OKcoin - 2021.

Kraken - 2022.

Doodh🥛Fact: The first version of the Lightning Network was launched in March 2018.

Doodhwala’s Take:

The Lightning Network is becoming popular, and it's happening right now.

Thanks to companies like Coinbase and people like Brian Armstrong, Bitcoin is going to be faster and cheaper for everyone.

Who doesn't love faster and cheaper? 😉

Unless it’s an expensive 911 GT3. IYKYK. 🏎️

Read our full newsletter here:
https://www.doodhwala.xyz/p/binance-is-in-trouble-again

13/09/2023

Elon Musk’s first child is now doing some serious crypto stuff.

Not the alleged kids he’s had - We talking about the global payments system PayPal. 🥴

PayPal is now taking steps to destroy the very presence of exchanges.

How?

By starting to offer crypto exchange products, for traditional finance customers! 😮‍💨

And now with their On-ramp and Off-ramp services for crypto—

It brings out the questions of— what da hell is PayPal cookin? 🤔

☝️What are Crypto Ramps?

Consider Crypto Ramps to be OG Doodhwala's.

They help you with—

Providing the best milk

Converting Milk to Cheese

Consider Oat milk equivalent to Cow Dung

Kind of the same thing that Off-ramps provide NGL. 🤔

Off ramps are basically places where people can convert their cryptocurrencies into Fiat currencies.

A.k.a,

👉 USD printed by Jerome Powell

👉 INR printed by Nirmala Sitharaman

👉 GBP printed by Andrew Bailley

After their On-Ramp service earlier this year—

PayPal is straight up telling CZ and Brian to pack up and G**O. 🤝

✌️ PayPal - Now offering Off-Ramp Services

So now that you know what Off-ramping is—

PayPal is offering one. ☝️

And it's hella premium. 🤑

Why?

Coz it's aimed for the vast volume of people standing who use PayPal for transactions regularly. 💯

PayPal users can now easily buy AND sell crypto to Fiat.

Not just that—

This makes it easier for merchants to onboard crypto payments easily. 😮

When did the world's biggest payment gateway and application turn into Crypto?

It's a slow process that no one paid a lotta attention to.

Now they're here. And they're giving a BIG middle finger to the crypto players rn. 😏

Read our full newsletter here:
https://www.doodhwala.xyz/p/alot-of-ethereum-is-getting-sold

08/09/2023

Cathie Wood.

The founder, CEO and CIO of ARK Invest.

Yeah, the same Ark Invest which is the 2nd largest institutional holder of Coinbase.

And now Cathie’s aiming for something that would be a FIRST in the world.

No, she isn’t trying to buy Doodhwala.🥛

She can’t tho, cuz we’re Too Funny To Handle. 😂

Then what the hell is it?

A Spot Ethereum ETF.

Ark Invest filed for it with the SEC just recently. 📄

But hold on, what's an ETF? 🤔

ETF stands for Exchange-Traded Fund. Imagine it like a basket of assets (like stocks) that you can buy or sell on an exchange. In this case, Ethereum's the star of that basket. 🌟

Here are all the details:

First of all, the NAME.

It’s gonna be → ARK 21Shares Ethereum ETF.

Nothing cool, tho. 🤷‍♂️

How does Doodhwala Ethereum ETF sound?🥛

This proposal is not so different from what we've seen for spot Bitcoin ETFs.

But there’s one spicy thing here.

Ark Invest tagged Coinbase to be the custodian. 🫡

Wtf does that mean?

Well, Coinbase would be the one keeping Ethereum safe that backs this ETF.

Coinbase to the moon? 🚀

Now it’s time to address the elephant in the room.

What's the SEC up to? 🧐

So this isn't Ark Invest's first time.

They tried to get a Bitcoin ETF started in June 2021.

But the SEC rejected the application due to some s**tty regulatory reasons.

This is why it’s a concern for this Ethereum ETF.

What if they reject this too?

Maybe Vitalik could talk to Gary (SEC’s chairman) unless he’s busy somewhere. 😅

The SEC's been playing the "market manipulation" card since 2013 whenever there’s crypto involved.

Even in the Grayscale case, the SEC mentioned the same reason for canceling the Grayscale Bitcoin Spot ETF application.

But this time even the court didn’t buy their bu****it. 🥲

So maybe the SEC might accept this Ethereum ETF.

And usually, the SEC asks to take back Ethereum ETF proposals pretty quickly.

But Ark Invest's proposal? It's still with the SEC.

Let’s see how it goes.

Till then, keep hodling and keep chugging.🥛

Read our full newsletter here:
https://www.doodhwala.xyz/p/bitcoin-second-biggest-wallet-revealed

06/09/2023

MetaMask.

It’s that popular Ethereum wallet that everyone downloads hoping they would look cool.

But what’s happening right now is not cool at all.

So there's a new scam in town that involves MetaMask in a really BIG way.

Some government websites from places like India, Nigeria, and Brazil (plus a few others) have been redirecting people to fake MetaMask sites!

I thought govt websites are s**tty but safe. But no, s**tty and unsafe.

So, how does this scam work? 🤷‍♂️

Scammers are using real-looking government websites.

Source: Cointelegraph

The moment you click on these links, it takes you to “MetaMask.io”.

But not the original one, the fake one.

Tho Microsoft Defender jumps in to give you a warning.

How to Spot a Fake? 👀

Honestly? It's tough! 🥲

The fake sites and the real ones look almost the same.

But here's what MetaMask advises:

• If something seems off? Report it!

• If your the seed phrase might've been seen? Stop using it. Make a new one on a device you trust.

• And a big tip: MetaMask won’t ask for personal info. If someone’s asking, it’s not them!

🥛 Doodh Tip: Bookmark OG crypto websites, so that you don’t get redirected to them from an un-trustworthy site.

What did MetaMask say about all this? 🤔

“We’re working on it! We're trying to find these scams and stop them quickly.”

A little bit of more explanation would’ve been really good, MetaMask. 🤨

Like how’d it happen? Why’d it happen? But looks like you’ve literally put a mask on your mouth.

Doodhwala’s Take:

Stop connecting your wallets everywhere just for the sake of it.

No one’s gonna give you any crypto or NFT for free.

It’s just us who give you free doodh and don’t even ask you to connect your wallets.

Read our full newsletter here:
https://www.doodhwala.xyz/p/15-million-request-not-go-bankrupt

01/09/2023

Are you ready for the biggest crypto news - That’ll probably actually affect your life? 😮

That’s right my doodhs!

Crypto is about to go mainstream, and it’s all possible because of the official crypto pumper himself—

Mr. Elon Musk. 🚀

The Payments Man → Turned Car Man → Turned Rocket Man → Turned Dog coin and Twitter Man has acquired some nasty new licenses.

What are these new licenses?

And how did crypto even come into the picture? 🤔

So many questions — Just one that really matters.

Are you frikkin ready for crypto to go mainstream? 🔥

☝️ Twitter has new Licenses.

Since Elon Musk took over the company, Twitter has acquired multiple new payment licenses.

And the most recent one?

Twitter has acquired a payment license in Rhode Island called the “Currency Transmitter License”

What is this new license?

Well, essentially it allows Twitter (I hate calling it X btw) to process and store payments in the state.

Not only that, but this also allows him to manage digital assets on Twitter.😮

This license basically allows Twitter to—

•Exchange

• Store

• Transfer

…Virtual Digital Assets for the company.

It also allows for the creation of stuff like Wallets, Exchanges, and Payment processors to be integrated.

Elon out here holding hopes for the crypto bros! 😭

✌️ Elon can integrate crypto. But will he?

There’s a teenie…tiny…issue tho. 🤏

Well, you see, Elon is a Chad raw cow milk chugger. 🐄

Meaning, as a man with great power, he must also follow up with great responsibility. 💪

The question really is—

Is it safe to even integrate crypto on such a huge platform?

I mean, think about all the issues with crypto right now—

👉 Hacks ✅

👉 Thefts and Manipulation ✅

👉 Weird People Shilling Tokens ✅✅✅

Only time will tell us.

And we all know that our boi is a huge Doge fan anyway. 😉

Read our full newsletter here:
https://www.doodhwala.xyz/p/uniswap-new-york-court-ruling

31/08/2023

Nothing makes us happier than the price of Bitcoin going up. 📈

(We’re gonna have to start selling more milk if it doesn’t pump)

But not everyone is like us — Some people just want to watch the world burn. 🔥We call them BEARS. And these bearish people are trying to bring down the market. 📉

☝️Why the Selling?

Let’s not forget — It’s just been a week since Bitcoin crashed close to 15% on multiple exchanges. 💀 We wrote about it here.

Last week was one of the worst weeks in crypto so far this year since March.

Remember what happened in March?

• Silicon Valley Bank - Gone. 🫂

• Silvergate Bank - Gone. 🫂

• First Republic Bank - Gone. 🫂

• Your Sympathy For Lactose Intolerant People - Gone. 🫂 hopefully

At that point in March, close to over $240 million had flowed out of the crypto market. ➡️

And now?

That number after last week’s dump turned out to be close to $168 million USD.

And Bitcoin alone lost more than $149 million out of that. 🤯

✌️ Who Dafaq is Selling?

One word. Institutions. 🏢

These damn institutions are on their way to drag the market down. 😔

Why are they selling so badly?

Well, there are a bunch of reasons that we can think of:

👉 They want to have control over the price of crypto.

👉 They're creating Net Short positions before an event trigger, a.k.a, a Bitcoin ETF.

👉 Markets maintenance till they send Bitcoin to the frikkin Moon! 🚀🌛

And who are these institutions?

Here are some of them 👇

• ETC Issuance GmbH

• Purpose Investments Inc

• 21 Shares

… and many more! 😔

Together, they've thrown out over $118 million USD, just this month! 🤭

But now that Grayscale has flipped the market sentiment, will they continue to sell?

Who knows!?

We'll prepare for the most bearish month of the year till then! 🤝

🥛 Doodh fact: September is on average the most bearish month in Bitcoin history. 🥲

Read our full newsletter here:
https://www.doodhwala.xyz/p/bitcoins-1-fan

28/08/2023

USDC? More like USD-See you later? 😂

Okay, okay, it's not that bad, but here's the thing:

USDC, our used-to-be fav stablecoin, is having a tough time.

Its market cap has hit a 2-year low → dropped to $26 billion from $56 billion last June.

That’s more than a 50% drop - not much stablility for a stablecoin!

Maybe it’s trying to become Justin Bieber.

But the interesting thing is Tether's USDT market cap is at its new high of $83 billion. 🎉

So wtf is happening with USDC? Here are the 3 main things.

1️⃣ Depe***ng Issue 🚫

There was a banking crisis in the U.S. earlier this year.

And Circle, the company behind USDC, was involved in that crisis.

They said they had about $3 billion stuck in it. That's a big reason why USDC's value went down to s**t. 💩

Tom Wan from 21Shares says, "USDC hasn't moved past that banking problem."

Meanwhile, USDT wasn't really hurt by this, so they're more stable.

In fact, USDT is a lot like doodh. No matter what happens doodh can’t be unstable ever.🥛

2️⃣ Interest Rates Going Up 📈

As the interest rates have gone up, holding onto USDC isn’t as cool as it was before.

Cuz people are choosing traditional bank accounts and CDs to park their money instead of USDC.

Garett Jones from Bluechip (they rate stablecoins) explained, “If you keep USDC now, you’re missing out on a steady 4%-5% return every year." 🤯

3️⃣ Weekend Habits 🍺

This thing is really interesting.

So here’s what happens → people sell USDC more than USDT, especially during weekends.

They might be cashing out to go to fine-dining restaurants where food only LOOKS good. 💀

And burning USDT? Apparently, that's not a weekend thing.

One reason is the difficulty in burning USDT during weekends.

Also, Tether has fees for both creating and redeeming so it’s costlier. 🥲

And FYI, USDC is mostly used in DeFi, while Tether is more for trading.

So, USDC is going away?

Nope! ❌

Circle is trying hard to make things better.

They've partnered with Shopify to offer cost-effective payment solutions and plan to introduce USDC to six more blockchains, including the controversial Base network. 🍺

And here's a news (good probably): Coinbase has now invested in Circle. 🤝

Read our full newsletter here:
https://www.doodhwala.xyz/p/pepe-just-got-rugged-by-its-own-team

24/08/2023

Insider Trading.

You must’ve heard of it happening in stock markets.

But have you heard of insider trading of NFTs?

Well, it’s a thing.

So, there’s this dude, Nathaniel Chastain. 👤

He’s the ex-head of product at OpenSea and used to pick NFTs that go on OpenSea's front page.

But then, he used some inside info to make money from those NFTs.

So, Chastain's strategy? 🤔

→ Choose an NFT for OpenSea’s front page.

→ Snap it up before it gets famous.

→ Sell it when it's popular and make money! 💸

And he made a lot... like, $50,000 (that’s a lot of doodh🥛) doing this!

Finally, Chastain got caught last June.

And he’s got himself a 3-month holiday in… prison (for now). 🤦‍♂️

When they caught him, people said it was the first time someone did insider trading with NFTs.

But wait.

Chastain thought he found a loophole. And so his lawyers tried to defend him.

They said, "NFTs aren’t like stocks. So what's the big deal?".

But the judge didn’t agree. So, the trial went on.

So, Nathaniel tried to hide what he was doing by creating

• Multiple digital wallets and

• OpenSea accounts

The idea? Buy those NFTs without anyone connecting the dots back to him. But... 🤫

Some sharp folks on Twitter started noticing something fishy.

Nate thought he was being smart by creating what are known as "burner" wallets.

No, these wallets don’t burn your crypto but rather themselves.

Wtf are Burner wallets?

These are temporary digital wallets used for quick transactions, especially in the crypto world. Once you're done with the transaction, you can "burn" or discard the wallet, leaving behind no links to your main account. Think of it as a disposable phone number – use it, then ditch it!

But before he could burn the wallet, the information was out on crypto Twitter.

So, Ethereum from the NFT sales in these burner wallets was traced back to... yep, you guessed it, Nathaniel’s primary or main wallet. 💰

And what really blew his cover was a specific NFT in his main wallet.

Yes, it was a CryptoPunk NFT that Nathaniel, possibly feeling a bit too confident, used as his Twitter profile picture.

Dude, seriously? 😂

You got to drink some doodh to be less dumb (hope they serve doodh in prisons).🥛

Read our full newsletter here:
https://www.doodhwala.xyz/p/new-crypto-drainer-alert

23/08/2023

Coinbase just told their bestie “Bro, I got you! 🤝”

Coinbase, one of the largest crypto exchanges in the US, and the world announced that they're fully onboard the stablecoin express. 🚂

How?

By taking a small stake in Circle, the issuer of USDC, Coinbase is all set to begin the next chapter of its business. 📖

What are they gonna do with this partnership?

And how will it impact their business? 📈📉

☝️Details of the partnership

Coinbase and Circle have been besties for a while now. 👬

And that's probably the reason for Coinbase to confidently take 1 step ahead in the stablecoin game of Jenga.

Here's what the partnership is for:

👉 Coinbase has taken an equity stake in Circle.

👉 Coinbase will help USDC launch on 6 new chains.

👉 USDC will still have full access and power to govern the stablecoin.

They also may or may not have said that USDC users who read the Doodhwala will be given priority access to Coinbase. 🥴

✌️ Impact on the business

You see, as sensible as this partnership sounds — There isn’t any direct monetary impact on either of the business. At least not anytime soon. ⏱️

And Coinbase themselves said that there is no change in projections for the coming quarters from this partnership. 🤷

So wait. Why did our boi Brian muster up this partnership in the first place then? 👨‍🦲

Here are a few possible things that we brewed up:

• Coinbase wants to be the stablecoin leader with the help of Circle if there is mass adoption of stablecoins in the future. (And they don’t have their own native stablecoin unlike other exchanges)

• They built their own native chain BASE, and want to have a stablecoin partner for the same.

• Brian is a gambler and wants a stablecoin to help with his addiction. 🤷🏻‍♂️

Whichever one is true, we just hope that at the end of the day —

Coinbase and Circle don’t split up and leave USDC like the child of divorce. 😭

Read our full newsletter here:
https://www.doodhwala.xyz/p/big-changes-big-doge

21/08/2023

Bitcoin crashed over the weekend. You either know this (and are crying rn) or you’re in denial.

We’re in between both – grief and avoidance. 🫠

So, we decided to rationalize Bitcoin’s latest crash with proper reasons. Not like saying Bitcoin crashed because of the position of the moon and the stars. 🌕 🪐

For context, the latest crash was BIG:

Bitcoin’s 2-month gains were wiped off

The crypto market lost $100 billion in market cap

McDonald’s received 1000+ applications from crypto bros

Well the last one we can’t confirm, but we’ve already sent a job application to the corner sandwich shop.

And this ☝️ crash happened after major wins like:

🏆 BlackRock files for a spot Bitcoin (Source: FREE MILK)

🏆 Ripple [partially] wins case against SEC (Source: FREE MILK)

🏆 Coinbase launches its L2-chain BASE (Source: FREE MILK)

🏆 Your parents finally think you’re not a failure (Source: Just ask them!)

(maybe that last one was just for me 😭)

So, what are the reasons for this decline? We’ve got 3 of them.

1️⃣ News
Crypto is very sensitive to news. That’s why we try to make it easier for you!

In the past week, two pieces of news severely impacted market prices:

👉 SpaceX Dumping BTC

Elon Musk’s fourth favourite company (after X, Tesla, and doodhwala of course) dumped some of its BTC reserves.

How much?

No one knows.

But a Wall Street Journal report said:

“The documents also show SpaceX wrote down the value of bitcoin it owns by a total of $373 million last year and in 2021 and has sold the cryptocurrency.”

SpaceX, unlike Tesla and X, is NOT a public company. And hence does not need to disclose how many BTC (or other rando assets) it holds.

But this report ☝️ and especially this AMOUNT of crypto held sent bearish shockwaves into the market.

👉 China’s Poor Economy

News also broke out that China is going through deflation. 🐡

Deflation is not when you’re sad that you’re girlfriend dumped you or your boss fired you. Here’s the TLDR on Deflation:

“Deflation is a decline in prices for stuff. This happens when there is a decrease in the supply of money and cheap credit in the economy.”

With China (a big crypto OTC market) going through deflation, the purchasing power of commodities (and Bitcoin) goes down. 📉 📉 📉

This also led to bearish sentiments. 😢

2️⃣ Correlation
Bitcoin’s price is heavily tied to big stock market indices like – the S&P500 (a market index tracking the prices of the top 500 companies in the US)

We can measure this by – the correlation between BTC and the S&P500.
• ➕ Positive correlation = 📈 BTC 📈 S&P500 or 📉 BTC 📉 S&P500

• ➕ Negative correlation = 📉 BTC 📈 S&P500 or 📈 BTC 📉 S&P500

In the past few weeks, the correlation between BTC 🤝 the S&P500 has increased from -0.7 to +0.9, its highest in 2023.

So, last week when the S&P500 went down, so did BTC. 😞

3️⃣ Leverage
Finally – leverage.

Crypto is unlike any other market because the volume of derivatives traded is 5x the volume of spot crypto traded.

Just see how exchanges push their derivatives market MORE than other markets. 🤯

So, because of the bearish sentiments → Bitcoin’s price fell → This affected the derivatives market → And led to massive liquidations.

When Bitcoin fell below $27k, nearly $800 million worth of longs (people betting on the price going up) got liquidated in the market.

Doodhwala’s Take:

Bitcoin crashed. It happens. Don’t worry about it. 😌

At least now you know THE WHY.

I still don’t know why my girlfriend broke up with me or why my boss fired me. Wish there was an explainer for that. 😢

Read our full newsletter here:
https://www.doodhwala.xyz/p/bitcoin-crashed-heres

18/08/2023

GHO—A stablecoin that nobody cares about right now. 💀

Last time, we hoped to never scribble about GHO again.

And yet, here we are again - back to complain about a stablecoins peg. 🤦

Ever since the launch of GHO over a month ago—

The stablecoin hasn’t been able to maintain its peg with the dollar. 🙅‍♂️

It’s like those times when doodh refuses to turn neither into Curd nor Cheese. 🤷

And the funniest part?

The founder of AAVE and GHO came out and said -

“We prolly not gonna focus on the pe***ng of our stablecoin rn”

Bro really said keeping the stablecoin STABLE isn’t their biggest concern. 💀

GHO has been trading between $0.99 and $0.97 ever since its launch. 😦

It even hit a low of $0.94 last week! 📉

So, the question really is - How long until the founder realizes that its too late to peg it back? (Laughs in Terra UST)

Let’s hope there isn’t another stablecoin bruh moment. 🛐

Read our full newsletter here:
https://www.doodhwala.xyz/p/gho-doesnt-care-about-its-peg

17/08/2023

Ever felt like you needed someone to unlock you? 🔓

Someone, to dive deep into your heart and release all the secrets within?💗

Well, we can’t help you with that. (Maybe a glass of milk? 🥛)

However, Arbitrum is set to make one of the biggest unlocks in the next year.

With over a billion new tokens set to enter the chain, what’s Arbitrum cooking?

And more importantly—

How will this affect Arbitrum token holders and the ecosystem? 🌎

Time to break the locks on what the hell Arbitrum is doing next year. 🔐

1️⃣ What’s an Unlock?

Token unlocks in crypto are basically those hidden packs of Doodh that every dealer has. 🤫

You know they got it in there, they’re just waiting for the right customer to come in to purchase it. 🥛

Simply put → Token unlocks refers to the release of new tokens into the market. 🪙

Token unlocks can happen in various ways - But usually, happen through a new sale or Airdrop.

These aren’t random btw—

They usually happen after the end of a lock-up period or vesting time. 🛡️

2️⃣ Arbitrum’s Cliff unlock.

Arbitrum is all set for its next biggest Cliff Unlock. ⛰️

What is this unlock you ask?

• On March 16th, 2024 - Arbitrum will unlock 1.11 billion ARB tokens, with a current worth of about $1.24 billion.

• After this release, on the 16th of every month, there will be more unlocks for the next 4 years.

• There will be a close to the existing supply of $ARB tokens added to the circulating supply, a.k.a, 2+ billion in circulation.

Why is it called a cliff unlock? 🤔

We have no clue. 💀

But we speculate it’s because of the huge drop from the top. 🤨

3️⃣ Token effects of an unlock.

An unlock might sound great in terms of innovation. 💡

But that doesn't necessarily mean that the price of the token correlates to the innovation.

It's the classic case of money printing—

More money in circulation = Lower value for the currencies in hand. 📉

Same with ARB.

More circulating $ARB = More pressure on adoption to drive value for gains. 😵‍💫

At the end of the day—

It all depends on how well there is adoption of Arbitrum as an L2. 😮

None of those problems would matter if everyone loves it.

We still got everyone's lovely doodh, haven't we? 🥛

Read our full newsletter here:
https://www.doodhwala.xyz/p/coinbase-s-base-has-rug-pulls-scams-and-hacks

16/08/2023

XRP.

The 5th largest crypto by market cap.

It’s getting loved by some really big institutions. 🥰

While Bitcoin has been the only love, XRP is also now racing to get some of it (maybe it’s trying to become a half-girlfriend).

The institutions (the ones who move a lot of money around) have been investing in XRP for → 16 weeks straight!

16 WEEKS! Yes, you heard that right.

This spicy detail came from a report on Monday. 🌶️

Here's a little more to make your jaw drop:

You gotta have a jaw tho.

• Assets under XRP? A 127% increase since the beginning of the year. 🚀

• And if we talk numbers (oh, we love numbers! 🤓), a cool $11.25 million has been invested in XRP since 2023 started.

But, wait a minute…why this sudden love for XRP? ❤️

🗓️ Rewind to 2020: Ripple, the company behind XRP, was hit with a $1.3 billion lawsuit by the U.S. SEC in 2020.

They were accused of playing with investors and selling them something...well, not so legal.

🗓️ Fast forward to 2023: A federal district judge said, ‘Nah, selling XRP to regular people isn't a security.’

But there's a catch: some big sales worth $728 million? Yep, those are securities. 🎢

I know it’s confusing af and that’s why we wrote about it here in detail. You're welcome.🥛

What was the result? 🌈

Most saw this as a win for Ripple and XRP. 🥳

Retail investors, institutions, and Ripple Labs were pretty happy. 🍾

Since then? XRP's price? To. The. Sky. 🚀

To add more fire to it…

Stu Alderoty, the General Counsel at Ripple, hinted that U.S. banks might start using Ripple’s fancy On-Demand Liquidity Service again.

How much more do you want to fall in love with XRP? ❤️

But hey, Bitcoin’s still the big boss.

Institutions invested a huge → $27 million into some well-known funds.

We're talking big names: Grayscale, 3iQ, and 21 Shares. 💼

Doodhwala’s Take:

Keep those wallets thick and those spirits high!

Read our full newsletter here:
https://www.doodhwala.xyz/p/institutions-love-crypto

14/08/2023

Voyager. 🚢

The company that was 🤏 close to getting acquired by Sam Bankman Fried (Who…btw goes by the name Inmate 37244-510 these days)—

Voyager is set to shut down after close to a year of them applying for Chapter 11 bankruptcy.📉

But wait…there’s a bunch of signs that are pointing that they want to leave with a bang. 💥

What is this new scheme that Voyager is plotting? 🤔

Are they evil geniuses? 😈

Or just criminal masterminds? 👿

Grab that warm doodh, we have a helluva Monday story to unfold. 🥛

1️⃣ In case you didn’t know Voyager.
Mondays are a great time to reflect on what happened in the past. 😲

In case you didn’t know, here’s a tl;dr on Voyager:

👉 Once one of the biggest crypto lenders for businesses and projects.

👉 They ended up giving out too much money to certain Three Arrows Capital.

👉 Three Arrow Capital gets rekt on leverage and gets all money liquidated.

👉 Big hole of over $660 million on Voyager Digital’s sheet now.

👉 Applies for Chapter 11 bankruptcy, coz why not?

👉 Get’s acquired by FTX in September of 2022, and FTX gets rekt in November. 💀

👉 CZ brings suitcases with the bois and acquires Voyager through Binance US for $1 billion. 💰

Phew…that was some roundup. 🥱

2️⃣ Voyager never stopped selling.

Okay so the new problem is something that began this year—

When they started to sell assets through Coinbase. 🤨

Yup, earlier this year, they had some hella sus things going on-chain.

Guess what?

That selling hasn’t stopped yet, even though they’re now a part of Binance. 😮

Hey CZ, better check on your folk - they’re selling assets on the open market again.🤷

3️⃣ Voyager is selling in millions. Again.

After analyzing a few on-chain transactions, it was evident that the above rumors were true.

Over the last couple of days, Voyager has sold—

Over $2.77 million worth of ETH. (>1500 ETH)

Over $2.7 million worth of Shiba Inu. (> 250 billion SHIB)

Total Wallet Balance now = $ 81.63 Million.

While some rumors suggest that they’re just consolidating their assets—

Others are questioning the motive behind it all.

Why Coinbase? And why now? 🧐

4️⃣ Is Voyager’s selling a threat to the market?

Well…not exactly.

FYI, a few million ain't that big of a deal in a trillion dollar market. 🤷

According to their website, the app will be shutdown on August 15th of this week. 🚫

But there is still the threat of user interpretation of events—

What if they think Voyager is a an Oatmilk producing company and want to remove all funds from the markets in general? 🤷

Highly unlikely. But still—

The question really is, wut CZ doin?

Does he want the market to crash? 💀

Read our full newsletter here:
https://www.doodhwala.xyz/p/voayger-is-selling-off-its-crypto

11/08/2023

BASE is finally out! 🎉

This makes Coinbase the first listed entity to have a distributed blockchain network. 🌐

The chain that we all discovered coz of a certain $BALD token—

Could now possibly be a major source of revenue for Coinbase. 🤑

How the hell is Coinbase going to print money from BASE? 🤔

And how will it affect their business model from now on?

COIN’s era has begun, and they’ve got the MONEY! 💸

1️⃣ Understanding COIN’s current business model.
You see, unlike other exchanges like Binance and Kraken—

Coinbase is a publicly listed company. 👥

This makes them liable to find new ways of gaining revenue to increase shareholder value. 🫢

We drank some Mountain Dew-infused doodh to analyze what their current sources of revenue were. 🥤

Here's what we found—

👉 Transaction rewards is their biggest source of revenue. (~ 45% of revenue)

👉 Comparing YoY revenue, there's been a significant decrease in total ARR.

👉 Despite institutional interest in Crypto, Coinbase’s revenue from institutional transactions hasn't picked up.

We know looking at balance sheets makes us question the meaning of life—

But just have a look at the total revenue from Q2’22 in comparison to Q2’23 - That's a $100 million dip in revenue. 🫢

Cheggitout. 👇

Source: Coinbase 2023 Earnings report

2️⃣ BASE brings the 💰.
Over $160 million of tokens have been bridged to BASE.

And every since the official launch of the chain this week, over $10 million has been bridged / deposited to the chain. 🌉

Now BASE is a completely new source of revenue for Coinbase.

Think of it like people discovering that they could pack fresh doodh and store it instead of chugging it raw all the time. 😮

According to our bald boi Brian, this was always the plan for the business.

Here's the official launch of BASE. 👇

3️⃣ Uncertainty of BASE.
There is a teenie-tiny problem tho. We don't exactly know what can go wrong. 💀

You see the usual pattern is —

Step 1- Chain gets launched.

Step 2- The chain gets tested for hacks and vulnerabilities.

Step 3- People realize the value and start bridging and building products.

But this hasn't exactly been the case for

Everyone jumping in on the basis of hype and memes. 🤷

So the uncertainty of moving to new chains exists at the moment.

But hey, here's one glass to COIN’s new revenue stream—

And hopefully, Brian can sleep for a while without worrying about profits. 🥛BASE is finally out! 🎉

This makes Coinbase the first listed entity to have a distributed blockchain network. 🌐

The chain that we all discovered coz of a certain $BALD token—

Could now possibly be a major source of revenue for Coinbase. 🤑

How the hell is Coinbase going to print money from BASE? 🤔

And how will it affect their business model from now on?

COIN’s era has begun, and they’ve got the MONEY! 💸

1️⃣ Understanding COIN’s current business model.
You see, unlike other exchanges like Binance and Kraken—

Coinbase is a publicly listed company. 👥

This makes them liable to find new ways of gaining revenue to increase shareholder value. 🫢

We drank some Mountain Dew-infused doodh to analyze what their current sources of revenue were. 🥤

Here's what we found—

👉 Transaction rewards is their biggest source of revenue. (~ 45% of revenue)

👉 Comparing YoY revenue, there's been a significant decrease in total ARR.

👉 Despite institutional interest in Crypto, Coinbase’s revenue from institutional transactions hasn't picked up.

We know looking at balance sheets makes us question the meaning of life—

But just have a look at the total revenue from Q2’22 in comparison to Q2’23 - That's a $100 million dip in revenue. 🫢

Cheggitout. 👇

Source: Coinbase 2023 Earnings report

2️⃣ BASE brings the 💰.
Over $160 million of tokens have been bridged to BASE.

And every since the official launch of the chain this week, over $10 million has been bridged / deposited to the chain. 🌉

Now BASE is a completely new source of revenue for Coinbase.

Think of it like people discovering that they could pack fresh doodh and store it instead of chugging it raw all the time. 😮

According to our bald boi Brian, this was always the plan for the business.

3️⃣ Uncertainty of BASE.
There is a teenie-tiny problem tho. We don't exactly know what can go wrong. 💀

You see the usual pattern is —

Step 1- Chain gets launched.

Step 2- The chain gets tested for hacks and vulnerabilities.

Step 3- People realize the value and start bridging and building products.

But this hasn't exactly been the case for

Everyone jumping in on the basis of hype and memes. 🤷

So the uncertainty of moving to new chains exists at the moment.

But hey, here's one glass to COIN’s new revenue stream—

And hopefully, Brian can sleep for a while without worrying about profits. 🥛

Read our full newsletter here:
https://www.doodhwala.xyz/p/delabs-is-packing-its-bags-again

Address

Website

https://www.doodhwala.xyz/

Alerts

Be the first to know and let us send you an email when Doodhwala Daily posts news and promotions. Your email address will not be used for any other purpose, and you can unsubscribe at any time.

Videos

Follow @doodhwaladaily for more such content. Crypto Fraud Case of the Century: Sam Bankman-Fried Goes to Trial REPLY in the comments and let us know what you think! 🤔 #goviral #cryptoreel #explorepagereel #cryptonewsdaiy #exchangetradeandfunds #cryptoexchange #cryptoexchanges #ftxarena #ftx #sbf #sambankmanfried #cryptoscam #cryptoscams #cryptoscammer

Follow @doodhwaladaily for more such content. Rich Dad Poor Dad Author Makes Bold Bitcoin Prediction REPLY in the comments and let us know what you think! 🤔 Subscribe to our FREE Crypto newsletter. Link is in the bio. #goviral #cryptoreel #explorepagereel #bitcoinminingpool #bitcoinminingool #bitcoin #cryptolife #bitcoindaily #bitcoinminings #miningbitcoins #robertkiyosaki #robertkiyosakiquotes #robertkiyosakiquote #richdadpoordad #richdadpoordadbook

Follow @doodhwaladaily for more such content. Ray-Ban Meta Smarts: The Sunglasses of the Future Are Here REPLY in the comments and let us know what you think! 🤔 Subscribe to our FREE Crypto newsletter. Link is in the bio. #goviral #cryptoreel #explorepagereel #metaai #meta #raybanstories #raybans #rayban #raybansunglass #raybansunglasses #raybanglasses #metanews #metainstagram #metaverses #metaverseworld

Follow @doodhwaladaily for more such content. NASA's Secret Moon Mission: Storing National Treasures Beyond Earth REPLY in the comments and let us know what you think! 🤔 Subscribe to our FREE Crypto newsletter. Link is in the bio. #goviral #cryptoreel #explorepagereel #blockchaintech #blockchain #blockchaintechnology #blockchaintechnologie #nasamission #nasafake #nasanews #nasatech #nasatechnology

Follow @doodhwaladaily for more such content. Crypto Scammers Target Mark Cuban, Stealing Nearly $1 Million in Tokens REPLY in the comments and let us know what you think! 🤔 Subscribe to our FREE Crypto newsletter. Link is in the bio. #goviral #cryptoreel #explorepagereel #cryptoscam #cryptoscams #scamalert #markcuban #markcubanmindset #markcubanquotes #markcubancompanies #metamask #metamaskwallet

Follow @doodhwaladaily for more such content. Crypto Influencer Bitboy Crypto Arrested During Livestream Rant REPLY in the comments and let us know what you think! 🤔 Subscribe to our FREE Crypto newsletter. Link is in the bio. #goviral #cryptoreel #explorepagereel #bitboy #bitboycrypto #cryptobet #cryptobetting #cryptoscam #cryptoscams #scamalert #livestreams #livestream #ben

Follow @doodhwaladaily for more such content. Hardware Wallets Explained: Everything You Need to Know REPLY in the comments and let us know what you think! 🤔 Subscribe to our FREE Crypto newsletter. Link is in the bio. #goviral #cryptoreel #explorepagereel #bitcoinminingpool #bitcoinminingool #bitcoin #cryptolife #bitcoindaily #bitcoinminings #bitcoinwallet #bitcoinwallets #cryptowallet #cryptowallets

Follow @doodhwaladaily for more such content. Imagine attending a baseball game from the comfort of your own home, where you can interact with other fans, play games. That's the future of baseball fandom, and it's all happening in the MLB Virtual Ballpark. REPLY in the comments and let us know what you think! 🤔 Subscribe to our FREE Crypto newsletter. Link is in the bio. #goviral #cryptoreel #explorepagereel #metaversenews #metaversecrypto #metaversenft #metaversegeneration #metaversegames #metaversegaming #metaverses #mlb #mlbnews #mlbedit #mlbedits

Follow @doodhwaladaily for more such content. Bored Ape Yacht Club creator Yuga Labs is blocking OpenSea over creator royalties. REPLY in the comments and let us know what you think! 🤔 Subscribe to our FREE Crypto newsletter. Link is in the bio. #goviral #cryptoreel #explorepagereel #cryptonewsdaiy #nfttoken #nftnews #nftmarketplace #nftcollections #nftopensea #nftsold #nfttoken #baycnft #baycc #mayc

Follow @doodhwaladaily for more such content. Virtual Gucci Bag Sells for More Than Real Thing, Highlighting the Rise of Digital Fashion REPLY in the comments and let us know what you think! 🤔 Subscribe to our FREE Crypto newsletter. Link is in the bio. #goviral #cryptoreel #explorepagereel #cryptonewsdaiy #nfttoken #nftnews #nftmarketplace #nftcollections #guccibags #guccibag #guccibagsale #robloxnews #robloxedit #robloxedits

Follow @doodhwaladaily for more such content. Stanford University to Return Millions in Crypto Donations from FTX REPLY in the comments and let us know what you think! 🤔 Subscribe to our FREE Crypto newsletter. Link is in the bio. #goviral #cryptoreel #explorepagereel #cryptonewsdaiy #cryptoexchange #cryptoexchanges #ftxarena #ftx #sbf #sambankmanfried #stanforduniversity #stanford #stanfords #cryptodonations

Follow @doodhwaladaily for more such content. FTX Bankruptcy Proceedings Target Sam Bankman-Fried's Parents REPLY in the comments and let us know what you think! 🤔 Subscribe to our FREE Crypto newsletter. Link is in the bio. #goviral #cryptoreel #explorepagereel #cryptonewsdaiy #exchangetradeandfunds #cryptoexchange #cryptoexchanges #ftxarena #ftx #sbf #sambankmanfried #cryptoscam #cryptoscams #cryptoscammer

Follow @doodhwaladaily for more such content. The Flash Loan Attack That Shocked the Crypto Community REPLY in the comments and let us know what you think! 🤔 Subscribe to our FREE Crypto newsletter. Link is in the bio. #cryptoreel #explorepagereel #cryptonewsdaiy #cryptoscam #cryptoscams #scamalert #cryptotoken #cryptotokens #cryptoscammer #flashloan #flashloans #cryptoexpert #cryptoexperts

Follow @doodhwaladaily for more such content. Buying a car with Bitcoin: Is it the future? REPLY in the comments and let us know what you think! 🤔 Subscribe to our FREE Crypto newsletter. Link is in the bio. #cryptoreel #explorepagereel #cryptonewsdaiy #elonmusktweet #elonmusktweets #elonmusk #elonmuskx #elonmuskreel #elonmusknews #teslamodel #teslamodels #teslamodelx #tesla #teslamodel3

Follow @doodhwaladaily for more such content. The Squid Game Token: A Cautionary Tale REPLY in the comments and let us know what you think! 🤔 Subscribe to our FREE Crypto newsletter. Link is in the bio. #cryptoreel #explorepagereel #cryptonewsdaiy #scamalert #cryptoscammer #cryptoscam #cryptoscams #scamalert #squidgames #squidgame #squidgameedit #squidgameedits #squidgamechallenge

Follow @doodhwaladaily and @stockswithsoorya for more such content. IDFC FIRST Bank's Digital Rupee Integration: A Threat to Paytm, PhonePe, and Google Pay? REPLY in the comments and let us know what you think! 🤔 #cryptonews #cryptoreel #explorepagereel #cryptonewsdaiy #cryptotokens #cryptoindia #cryptoindias #cbdc #cbdcs #idfcfirstbank #idfcfirst #idfc #idfcbank #paytm #googlepay #phonepe

Yesterday was HUGE! 🔥 Bitcoin hit a new high? Nope. Elon tweeted bout Doge again? Nah. Aliens said they love doodh? Not yet.🥛 Then what? → Coinbase X Lightning 🚀 Wtf is Lightning really? It's a Layer-2 protocol, built on top of Bitcoin. Designed for quick microtransactions without the need to broadcast everything on the main L1 chain - Bitcoin network. The idea is to open a payment channel, do your transactions, and then close the channel. All without making every transaction public. Now, here's the full story: 📖 A while back, big exchanges, like Coinbase and Binance, didn't want to use Lightning. 🚫 They thought it wouldn't help them earn more money. But things changed! 🔄 Brian Armstrong, CEO of Coinbase, said they're going to use Lightning to make Bitcoin better. Why? Big names, like Michael Saylor and Jack Dorsey, were poking Armstrong with a stick, asking, “Why do you ignore Bitcoin?” The Bitcoin maxis are really happy about this! This is the 3rd time when they’re so happy. First was when they got to know about Bitcoin. 🟠 Second was when they got to know about Doodhwala.🥛 And third is now. What about Binance tho? 🤔 Binance started using Lightning a bit earlier, on July 17, 2023. Some other exchanges using Lightning: 🌍 Bitstamp - 2019. Bitfinex - 2020. OKEx and OKcoin - 2021. Kraken - 2022. Doodh🥛Fact: The first version of the Lightning Network was launched in March 2018. Doodhwala’s Take: The Lightning Network is becoming popular, and it's happening right now. Thanks to companies like Coinbase and people like Brian Armstrong, Bitcoin is going to be faster and cheaper for everyone. Who doesn't love faster and cheaper? 😉 Unless it’s an expensive 911 GT3. IYKYK. 🏎️ Read our full newsletter here: https://www.doodhwala.xyz/p/binance-is-in-trouble-again

Follow @doodhwaladaily for more such content. Bitcoin Cash: The Younger Sibling of Bitcoin REPLY in the comments and let us know what you think! 🤔 Subscribe to our FREE Crypto newsletter. Link is in the bio. #explorepagereel #bitcoinminingpool #bitcoinminingool #bitcoin #cryptolife #bitcoindaily #bitcoinminings #miningbitcoins #miningbitcoin #bitcoinminingfarm #bitcoincash #bitcoincashout #bitcoincashprice

Follow @doodhwaladaily for more such content. ISKCON Dwarka Ushers in New Era of Spiritual Connection with Metaverse Experience REPLY in the comments and let us know what you think! 🤔 Subscribe to our FREE Crypto newsletter. Link is in the bio. #cryptoreel #explorepagereel #cryptonewsdaiy #metaversenft #metaversegeneration #metaversegames #metaversegaming #metaverses #iskcontemple #iskcondwarka #iskconindia #iskcondevotee #iskcondevotees

Shortcuts

Address
Alerts
Videos
Claim ownership or report listing
Want your business to be the top-listed Media Company?

Country:

City: