Pen²OnChain

5 reasons we are buying this "inflation-fear" 2-day dip. Wed could be the turning date higher.👀📈 To us, the selling over the last 2 days is setting up to be another “buy the dip” moment. In fact, this turnaround is likely to start today (4/2). Get the FIRST WORD from Tom Lee only at FS Insight! 🙌🏻🔥 fsinsight.com/first-word/202…

1/🚀Exciting news from #DuetPro! We are thrilled to introduce Duet Pro Cloud, a revolutionary infrastructure that enables partners to build on our secure, advanced tech for digital asset exchanges. Visit here: bit.ly/3qg6iSe 🔥

Thank you for listening. ❤️ Check out the text version recap here: duetprotocol.medium.com/duet-protocol-…

Ready for a big ride

Duet Protocol Global Market Chat Recap — 20230605 @duetprotocol/duet-protocol-global-market-chat-recap-20230605-89d50139512c" target="_blank" rel="nofollow noopener">medium.com/@duetprotocol/…

🧵Check out our Duet Protocol Global Capital Market Weekly Recap & Outlook — 20230529 👉 link.medium.com/TNQIVo5EbAb TL;DR:(1/n)

#Duet Community Call - 20230529🎙️ Join #Duet core team in a global market discussion and get trading insights. 💹 ⏰ May 29th, 12:30 PM UTC 📍twitter.com/i/spaces/1YqKD… #DeFi #AMA #FederalBank #economics

well someone can always draw lines for weaving together a perfect narrative

@MacroAlf This shows the US people are confident in their present and future, unafraid to spend and invest, believing in the promise of prosperity that the nation offers. It's a testament to the powerful, dynamic spirit of America.

The Fed reported that only 63% of American adults would be able to cover an emergency $400 expense with readily available cash. Over 1/3 of US people don't have 400 bucks on the side for an emergency expense. Seriously?

@Reuters Even though there has been a mix of company and customer funds due to restrictions on banking services, this is hardly a significant issue. Binance's continuous denial of all allegations does nothing to bolster public trust, anyone can make mistakes just make improvements

New insights into Binance’s financial operations come as the company is facing civil charges from the Commodity Futures Trading Commission of willful evasion of US commodities laws. It is also under investigation by the Justice Department reut.rs/3IxUNeM

CLSA：#BTC is in correction back to $23000

@paoloardoino The Shareholder Capital Cushion is included in the assets held by the company that exceeds its liabilities. It can be understood as the company's net assets, means even if BTC falls to zero, it would not affect the redemption of USDT

Got this question: > How is this strategy similar to or different from Luna Foundation Guard's bitcoin-buying strategy? Bitcoin acquisition strategy is performed using only up to 15% of net realized operating profits that are accruing to company excess reserves (~2.5B USD equiv at 2023-03-01). Excess reserves are company own shareholder equity (accrued historical profits that were never distributed), that is on top of the 100% reserve assets that Tether maintains in order to fully back its stablecoin products, of which the majority is in US t-bills. Tether decided to maintain this excess reserves as part of its portfolio to add additional cushion and stability to its stablecoin products. This approach is 100% different from Luna Foundation, where a huge portion of Terra/Luna collateral itself was held in Bitcoin.

Transparency is king. @tether today has 2.5B+ USD (equivalent) in company own excess reserves. What company own excess reserves mean? It means that Tether, on top of the 100% reserves necessary to back issued tokens, has currently 2.5B+ USD (equivalent) more. This accounts to ~3% additional value on top of the minimum 100% reserves. These excess reserves have been accrued through interest rates on our massive US t-bill portfolio and other investments (gold, ...). Why does Tether keep excess reserves in the portfolio? While these excess reserves are part of Tether own shareholder equity, Tether prefers to give priority to ensuring that its stablecoin products as resilient as possible. While banks can do fractional reserve, we believe that's not a viable strategy for a stablecoin, so it's crucial that Tether keeps an additional cushion to further protect its user base. From the latest attestation (dated 2023-03-31), Tether has confirmed that it held already ~2% of its portfolio in #bitcoin . Today @tether announces its commitment to use up to 15% of its newly monthly net operating profits (ie. accounting the realized dollarized profits coming from t-bill and similar investments) to purchase #bitcoin as part of its excess reserves. The total value of Bitcoin kept in the portfolio is currently well below our own excess reserves (~1.5B vs 2.5B), and our aim is to continue in the same direction, since only up to 15% of net operating profits will be used for these continuous Bitcoin purchases. Why #bitcoin and not something else? Because Bitcoin is the epitome of a sound and secure monetary system with its decentralized nature and scarcity, Bitcoin is revolutionizing the concept of money and challenging traditional finance. Bitcoin has defied expectations, shattered boundaries, and provides access to the global financial system to anyone with an internet connection.

Check out our Global Capital Market Daily Recap & Outlook ➡️ link.medium.com/xc4KXnoZPzb

Check out our Global Capital Market Daily Recap & Outlook👉 link.medium.com/0OHyhfHxRzb

Shorts starting to get back——by JPM‘s statistics,: On Tues, Wed, and Thurs, we saw shorts added consistently, which put the 5-day short flows at +0.6z globally. This isn’t particularly extreme vs. the past, but it is still the highest since mid-March (on 3/10 it hit +1.5z).

@tether If #USDT is just a stablecoin anchored to the dollar, it does not need to be so diversified, which USDT now should be treated as a foreign exchange, with an independently floating price😬

Tether's Latest Q1 2023 Assurance Report Shows Reserves Surplus At All-Time High of $2.44B, up $1.48B in Net Profit; New Categories for Additional Transparency Reveals #Bitcoin and #Gold Allocations tether.to/en/tethers-lat…

wow, more gold than corp bonds