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- š„ Happy Uptober! Will prices go up or down? š§
š„ Happy Uptober! Will prices go up or down? š§
PLUS: Crypto fraudsters gets exposed and arrested š
Todayās edition is brought to you by Bakkt ā the responsible crypto company that provides custody, trading, and onramp solutions to help businesses grow with the crypto economy.āÆ
GM. This is Milk Road, the crypto newsletter smoother than a jazz saxophonist on a moonlit night.
Here are the todayās hits:
Itās Uptober! Hereās what to expect šø
Su Zhu gets arrest and Do Kwon gets exposed š
A new $1B crypto fund gets launched šŖ
ITāS UPTOBER! WHAT TO EXPECT⦠šø
The wait is overā¦
Itās UPTOBER. (Also known in the streets as Pumptober, Rocketober, and my favorite - Gainztober.)
In case you didnāt know, October is one of the best-performing months for Bitcoin.
Here are a few more Milk Road NextGen stats about October:
The cherry on top⦠Bitcoin just ended September in the green.
Something that has only ever happened twice before.
The last 2 times it happened? Bitcoin had a green Octoberā¦.AND a green Novemberā¦AND a green December.
In other words, a green September = a green Rest-Of-The-Year.
Well, we just had a green September. So now we wait and see how the rest of the year goes.
The first month up to bat: October.
Question of the day: What do you think will happen this October?
What do you think will happen this October? |
Click on your answer above! Weāll share the results in tomorrowās edition.
Businesses that have stuck through this bear market must be in crypto for the long term.
Well, thatās where BakktĀ® comes in!
Bakkt builds crypto solutions for long-term growth.
Hereās what they offer:
BakktĀ® Custody:āÆInstitutional-grade solution powered by multi-layered security
BakktĀ® Trade:āÆEnableāÆyour business to activate trading to consumers through secure and regulated trading infrastructure
BakktĀ® Onramps:āÆA range of solutions making access to crypto easy, from fiat onramps to crypto rewardsāÆ
In other words, they have got your Bakkt. And theyāve been doing it all since 2018, so you know youāre in trusted hands.

SU ZHU GETS ARRESTED AND DO KWON GETS EXPOSED š
Samuel Bankman-Fried. Do Kwon. Su Zhu. Kyle Davies.
These were 4 of the biggest (and most respected) names in crypto at one point.
Then.. they got caught running schemes that stole billions of dollars from millions of customers.
So now we just call them The Fraudulent Fourā¢.

And itās been an eventful couple of days for these guysā¦
SU ZHU GOT ARRESTED IN SINGAPORE
Su Zhu was one of the founders of Three Arrows Capital. (a former $10B hedge fund that collapsed last year)
Over the last year, heās been playing real-life āCatch Me If You Canā.
Well, Zhu finally got caught. He was detained at an airport in Singapore while trying to leave the country over the weekend.
Su Zhu will spend the next four months in prison.
*sniff sniff* You smell that?
Nothing like the sweet, sweet smell of justice.
DO KWON GOT EXPOSED
Do Kwon was the founder of Terra. (a $40B stablecoin project that collapsed)
Well, recent court documents show Do Kwon faked trading volume.
And he admitted to it in textā¦

Side note - this sounds a lot like two 4th-grade crushes talking to each other.
Crush 1: āWouldnāt it be funny if we pretended to be boyfriend/girlfriend and kissed?
Crush 2: āI wonāt tell if you wonāt šā
SAMUEL BANKMAN-FRIEDāS TRIAL STARTS THIS WEEK
In other news, Sam Bankman-Friedās trial is set to begin tomorrow.
And boy, do we have a lot of questionsā¦
Will Sam take responsibility for his actions?
Or will he blame someone else (again)?
Will he show up as his normal self (i.e. long hair, donāt care)?
Or does he have a completely new look for a ānew Samā? (i.e. shows up with a bald head and a suit)
Who the hell knows⦠but weāre ready for the show.
And of course, we got you covered on all the crazy stuff that happens.
Just keep an eye on those inboxes later this week!

BITE-SIZED COOKIES šŖ
Yield App is a centralized crypto-earning platform offering up to 11% on certain crypto assets. Users can onramp fiat, while benefiting from no swap fees and access to structured product offerings. Check out the review we did of their platform.
Deus X Capital launched its new $1B office-backed investment firm. The company will invest in digital assets, blockchain projects, fintech apps, and more.
Grayscale has filed paperwork to convert its Grayscale Ethereum Trust (ETHE) to a spot Ethereum ETF. Grayscaleās ETHE has $5B in assets under management and is the biggest ETH investment product in the world.
$686M was stolen in crypto hacks last quarter. Stolen funds are up 59% year-over-year, according to the report from Immunefi.
Coinbase secured a payment license in Singapore. The crypto exchange also recently received licenses from Spain and Bermuda last week. #Mr.Worldwide

MILKY MEMES š¤£


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DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research.
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