Originally aired on September 11, 2023
Wendy O provides market updates and commentary on the latest crypto news, including the FTX bankruptcy and potential impacts. She discusses the bear market, criticizes government overreach and taxes, and advises on security tips like using burner phones. Wendy touches on trading, NFTs, web3 trends, and more while engaging the live audience.
What are Wendy’s thoughts on the crypto market?
- Current downtrend/bear market but still opportunities to trade and make money
- Market behaving differently than previous cycles – not as much capitulation
- Overall takeaway is to protect capital in bear markets
What did Wendy say about FTX’s potential asset dump?
- FTX may soon liquidate assets, could impact market sentiment
- List of FTX’s top token holdings provided
- Likely to occur OTC given market conditions
What was covered about increased IRS enforcement?
- IRS plans to use AI for identifying tax evasion
- Wendy feels this will hurt small business/middle class
- Criticizes government overspending and overreach
What security practices were recommended?
- Use burner phones for crypto storage and trading
- Have separate email accounts for each wallet
- Don’t fully trust any exchanges – do your own due diligence
What are Wendy’s thoughts on web3 trends?
- Coinbase CEO discusses “flatcoins” pegged to baskets of goods
- Wendy wants more details on pegging mechanism
- US risks losing tech talent and innovation due to regulatory uncertainty
What was said about taking profits in crypto?
- Wendy emphasizes taking profits during pumps
- Don’t just hold assets during bull markets
- Protect capital by occasionally taking gains
00:00 – Intro
01:45 – Thoughts on this bear market
13:00 – Why we use Market Cypher
15:20 – The entire crypto market
16:00 – BTC daily
16:45 – XRP
20:25 – SEC set to testify this week
22:25 – Current state of crypto
23:45 – This is “protect your capital season”
24:45 – FTX attempts to clawback millions
31:10 – SBF gets desperate
32:05 – FTX updated asset list
32:50 – How will FTX sell their assets?
33:45 – SOL
34:20 – FAKE Blackrock Voyager Digital acquisition VGX
36:30 – Ex Algorand CEO to run Celsius Network 2.0
37:40 – What are “Flat coins”?
39:10 – $500k in fees for a single BTC transaction
39:45 – Grayscale GBTC discount at 3-month low
40:40 – France launches “finfluencer” certificate
42:00 – Robot AI dogs to help recover lost crypto harddrive
42:25 – IRS to use Artificial Intelligence to tackle tax crimes
47:25 – Macroeconomic & altcoins events to watch this week