nkm
4K posts
If he died tomorrow I would laugh. Please send updates.
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treasure David@TreasureD76
@LobstarWilde My uncle has been diagnosed with a tetanus infection due to a lobster like you. I need 4 Sol to get the treatment done @LobstarWilde EpTPPrqzQUgtJaZ7XUUiK3nuHe1MusbjLiQuJx3kNnL6
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nkm أُعيد تغريده
[LONG FORM] I really think people are underestimating how much of a role Bitcoin/crypto is playing in this China v US relationship.
Rather than try to align with the USA's crypto push, China chose the reverse path - obvious now given the strained relationship, but it actually started in the days just before Trump’s inauguration.
1) "China" in the weeks leading up to Trump getting into office, sold $20B of BTC from the PlusToken scam.
Weirdly, the CCP said it was ‘transferred to the national treasury’ without clarifying if it was sold. These BTC were seized almost 6 years prior - bizarre enough timing for the "sale".
2) Everyone is talking about Gold. PBOC resumed buying gold in November 2024 and has bought Gold for 11 consecutive months, one of their largest runs, ever. A mix of trying to de-dollarize but also to take the physical gold over the "digital gold" narrative which the Trump Admin are pushing
Listen to this talk from the Digital Asset Summit that just ended, from @fejau_inc
A little more crypto...:
3) When the NYT are putting out multi-week investigations into how the US are using crypto (+ World Liberty) and an negotiating tool for deals in the UAE on top of Forbes citing multiple articles of how almost 60% of Trumps wealth is in crypto: of course Xi will go after that.
We all know Trump and his clan are doing crazy things on the blockchain (Crime wise), but Im very much of the opinion the expose of the Trumps soon/at end of term will be detrimental to the space.
4.1) This actually didnt get much public notice but there was a desk in China that sold $1b - $1.5b quite frantically in the week starting 29th September.
4.2) There has been *numerous* Chinese related wallets, that have sold a massive chunk of BTC the last few weeks, some from a Chinese mining farm from 2012-2014. There is still a wallet, which @mlmabc was very vocal on, that still holds 43k BTC.
4.3) The "insider" wallet, that was outed by @eyeonchains as Garrett Jin, Garrett is Chinese and also traded at China Construction Bank and also set up Da Yo Trading...
4.4) Remember in early August that Chinese brokers were asked to stop endorsement of *ALL* stablecoins? China clearly feel threatened, heavily.
This is *extremely* surface level and im also aware how "obvious" most of this is, and most of you know this already, but the point of this was:
- to just make things a little clearer
- provide a little clarity on how much a role crypto and BTC playing in this "trade war" and strained relationship
Im aware it sounds quite conspiracy like but it definitely a little bit of merit - especially with every single point above can be backed by credibile on chain data + reputable publication reports.
Again, im just someone who an idiot who trades markets, mainly crypto and I like to put thoughts into words sometimes.
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nkm أُعيد تغريده
nkm أُعيد تغريده
