Corey Frayer

"The company's hope is that it is entering this downturn as a different company, having worked to reduce its reliance on spot trading and having launched new businesses such as stock trading and prediction markets."

www.bloomberg.com/news/article...

Let me introduce you to North Carolina declaring the sea is not rising www.science.org/content/arti... and Indiana almost declaring that pi equals "3" en.wikipedia.org/wiki/Indiana...

Somehow DC is the sanest place I've lived.

Coinbase rolls out AI tool to 'give any agent a wallet' AI bots will now be able to independently hold funds, send payments, trade tokens, earn yield, and transact onchain.

Coinbase earnings call tonight will show it's trying to be everything but a crypto exchange. Stocks. Prediction Markets. Stablecoin deposits. Now AI.

You can afford to blow up crypto legislation when you're pivoting to a deregulated-everything exchange.

www.theblock.co/post/389524/...

CFPB Fires Employee Over a Confrontation With DOGE a Year Ago The Consumer Financial Protection Bureau fired an employee for disrupting and documenting a 2025 meeting between the agency and Elon Musk’s Department of Government Efficiency, according to emails rev...

Pro-government vigilantism is praxis

www.bloomberg.com/news/article...

Ha!

Yes, you could do this with cash instead but you'd have to find some way to take delivery of a bagful of paper money without getting caught like you're Dennis Hopper from Speed.

BlackRock, Securitize tap DeFi giant Uniswap for direct onchain BUIDL trading; UNI surges 20% BlackRock is bringing its tokenized Treasury fund BUIDL to Uniswap through Securitize, marking its first direct DeFi trading integration.

Uniswap off-chain order routing of a security via RFQ on an ATS sounds a lot like the facility of an exchange....but what do I know?

Another win for "decentralization."

www.theblock.co/post/389421/...

Yes, and - there's something charming and grounding about the Bluesky crowd's generally subdued response to crypto posting - "ehhhhh??"

Crypto exchange Kraken fires CFO Stephanie Lemmerman as long-awaited IPO draws closer Kraken has moved chief financial officer Stephanie Lemmerman to a strategic advisory role, according to a person familiar with the matter.

This may not be obvious to crypto firms but ideally you don't replace your Chief Financial Officer while you're doing one of the most financial things a company can do.

www.coindesk.com/business/202...

The real question is who's dumb enough to keep $1,119 of bribecoin in the wrong Binance account.

YouTube video by Coinbase Everybody Coinbase

The crypto Super Bowl ad you can afford after you spent all your money buying Congress and BTC is at 40% of its ATH.

www.youtube.com/watch?v=ox__...

New op-ed from the Washington Post's AI Editorial Staff: Why couldn't the NFL have had a Bad Bunny AND Good Rabbit halftime show?

#Satire

I always welcome supporting evidence such as this.

YouTube video by Strategy Strategy Q4 2025 Earnings Call

Saylor on earnings call keeps saying that "we turn digital capital into digital debt." It has the patina of "we're basically a bank making loans."

But it's really the equivalent of a large bank saying "we are raising equity so we can issue more bonds."

www.youtube.com/watch?v=GOK-...

"The President will corrupt us back into profitability"

MSTR - In the long run, BTC will outperform every other asset.

Keynes - In the long run, we are all dead.

"Gateway debt"

This earnings call could be summed up as "hodl"

"we are deleveraging" is not the most strategic thing to say when the asset you rely on is tanking in value.

Feels like the old "You would have 100 million dollars if you'd invested a year ago, assuming you had invested 200 million dollars"

Doesn't this just mean that taking away the material wealth won't make them any *less* happy?

What the 2008 Stock Market Crash Means for Retirement Security The one-third drop in the S&P 500 index between year-end 2007 and 2008 raises concerns about retirement security since Americans now hold more equities t…

Some perspective for this Bitcoin crash. In the 2008 Financial Crisis, retirement accounts lost about 32% of their value.

If you bought Bitcoin at the end of October last year, you've lost about 43%. In a legitimate, reality-based market, that would be a crisis.

www.urban.org/research/pub...

You're making an incredibly good point here which is that no legitimate financial market should be this volatile - losing a third of its entire market cap in the last year - without an underlying explanation.

Either there's a huge secret platform failure or this isn't a real financial market.

Watching crypto slowly realize that our SEC's fair application of the law was better for them than a corrupt President doing them favors is life-affirming.

Found Michael Saylor's alt account.

Picture of price chart for Bitcoin over last 24 hours - steep red line graph from $74k to $63k

Bitcoin falling so fast today it's going to need ablative shielding.

Democratizing Access to Alternative Assets for 401(K) Investors By the authority vested in me as President by the Constitution and the laws of the United States of America, it is hereby ordered:  Section 1.

Bitcoin under $65k today from a high ~$125k. Private credit is falling apart and institutionals are trying to fight their way out of private equity exposures.

Tell me again why this administration is encouraging plan managers to pawn these assets off on retirement savers?

tinyurl.com/3js6eyru

I think that might be more generally symptomatic of the crypto community's ability to spin literally anything into a bullish indicator.

But yea pipe dreams also a factor - I'd add everyone who's twisting themselves in knot trying to tie crypto's future to AI.

I wrote about the crypto crash and why this is the worst crypto winter in the industry's history.

Sub to the Odd Lots newsletter here www.bloomberg.com/account/news...

It's somewhat implied by "not the biggest but is the worst" but:

The explicit claim here is that this downturn has revealed a bunch of fragilities in crypto markets that existed even before the FTX crash. And I strongly agree.