MARC CUBAN PREDICTS A CRYPTO COLLAPSE – IS IT OVER?

Ethereum maximalist Mark Cuban says the crypto crash reminds him of Warren Buffett’s advice: ‘When the tide goes out, you get to see who is swimming naked’

Taylor Locke

The cryptocurrency market is seeing a flash of failed and struggling projects amid a rough downturn that has left investors fearful over what’s to come.

Looking ahead, billionaire Mark Cuban sees extinction.

“In stocks and crypto, you will see companies that were sustained by cheap, easy money—but didn’t have valid business prospects—will disappear,” the Shark Tank investor and Dallas Mavericks owner told Fortune. “Like [Warren] Buffett says, ‘When the tide goes out, you get to see who is swimming naked.’”

After the Terra ecosystem collapsed, with failed algorithmic stablecoin TerraUSD (UST) and cryptocurrency Luna (LUNC) becoming nearly worthless, there has been a ripple effect throughout the space. This week alone, Celsius Network, one of the largest cryptocurrency lending platforms, halted withdrawals and sparked fears of bankruptcy.

After the Terra ecosystem collapsed, with failed algorithmic stablecoin TerraUSD (UST) and cryptocurrency Luna (LUNC) becoming nearly worthless, there has been a ripple effect throughout the space. This week alone, Celsius Network, one of the largest cryptocurrency lending platforms, halted withdrawals and sparked fears of bankruptcy.

It’s also been reported that prominent cryptocurrency fund Three Arrows Capital is facing possible insolvency after $400 million in liquidations. The value of the global cryptocurrency market dropped below $1 trillion as Bitcoin, the largest cryptocurrency by market value, fell to $20,193, and Ether, the second largest, to $1,023.

Despite the negative market sentiment, Cuban said he expects innovation to come out of the crypto market downturn as well.

“Disruptive applications and technology released during a bear market, whether stocks or crypto or any business, will always find a market and succeed,” he told Fortune.

He says that cryptocurrencies are related to the Nasdaq, which has proved especially true in recent months. Tech stocks and Bitcoin, for example, have moved in tandem lately. The correlation between the Nasdaq 100 and Bitcoin was recently near all-time highs.

“If rates go up, it will struggle till it’s priced in,” Cuban said. “The exception, as with stocks, is for new, game-changing applications.”

Cuban himself is an avid cryptocurrency investor and self-proclaimed Ethereum maximalist. He owns a few cryptocurrencies and non-fungible tokens (NFTs) and has invested in a few blockchain companies.

This story was originally featured on Fortune.com

Robinhood Markets, Inc. (HOOD)

7.05-0.18 (-2.49%)
At close: June 15 04:00PM EDT
6.93 -0.12 (-1.77%)
Pre-Market: 8:46AM EDT
THIS IS FROM A HIGH OF $85 – WILL THEY SURVIVE?
STOCKHOLDERS OF BEYOND MEAT WANT TO KNOW WHERE IF THE BEEF?

52 Week Range

20.50 – 160.28

TALES FROM THE KRYPT – THE BIDEN STOCK MARKET IMPLOSION IN REALTIME

Braden, the matador, thrusts his sword into the mighty bull market, injuring the beast – blood spilling from all quarters. Is he in for the kill?

Get out before Branden pours more inflation gas on your savings. We are going into a tailspin. Don’t get caught by the BEAR.

Did You buy gold and sell the bitcoin?

See the source image

Bet we will find gas drilling Branden’s cranium. This most likely is true of all Democrats. Let’s do it!

‘The economy is going to collapse,’ says Wall Street veteran Novogratz. ‘We are going to go into a really fast recession.’

“WHERE REVOLUTION IS THE SOLUTION“

 

 

TALIBAN VOTE NO WHEN IT COMES TO PROTECT SUPREME COURT JUSTICES

A vote took place yesterday, that would provide police protection for the Supreme Court Justices. This certainly, without question, highlighted the criminals who reside in the Democrat wing of the absurd. They are Taliban.

Here are the 27 House Democrats who voted against a bill to extend Supreme Court police protection to justices’ families

 Business Insider

Bryan Metzger
·4 min read

House Democrats who voted against the bill include:

  • Alexandria Ocasio-Cortez of New York

    • Pramila Jayapal of Washington

    • Ayanna Pressley of Massachusetts

    • Rashida Tlaib of Michigan

  • These Suicide Bombers are members of the squad. They are attempting to destroy the United States of America from within. 

TALES FROM THE KRYPT – YOU WERE WARNED

BTCUSD

Bitcoin in US Dollar

20216.02
−8.61%−1903.62
ETHUSD
Ethereum in US Dollar

1025.32

Tulip mania (Dutch: tulpenmanie) was a period during the Dutch Golden Age when contract prices for some bulbs of the recently introduced and fashionable tulip reached extraordinarily high levels, with the major acceleration starting in 1634 and then dramatically collapsing in February 1637. It is generally considered to have been the first recorded speculative bubble in history.

TALES FROM THE KRYPT – JOE SPREADING INFLATION DISEASE – DOW DIVES

BTCUSD
Bitcoin in US Dollar
24191.48
−8.98%−2387.25
ETHUSD
Ethereum in US Dollar
1232.22
−14.14%

INFLATION JOE IS FEEDING THE BEAR

LOOK OUT BELOW –

S&P Futures

TRADING NATION

Beware of inflation ‘headwinds’: It could take a year to break even after a 10% to 20% market correction, economist Mark Zandi warns

JUDGE SAYS, “NO RIGHT TO WEAR BLM GEAR ON JOB”

NEWS

Home Depot workers don’t have the right to wear BLM gear on the job: judge

By

June 12, 2022 2:20pm

 Updated

Home Depot workers do not have the right to wear Black Lives Matter merchandise or imagery while on the job, a federal judge has ruled.

In his ruling Friday, administrative judge Paul Bogas rejected a complaint from the US National Labor Relations Board that the home improvement retailer violated employees’ rights by barring them from displaying BLM gear, Bloomberg News said in a report.

Bogas wrote that the BLM moniker lacked “an objective and sufficiently direct relationship to terms and conditions of employment.”

BLM’s message “originated and is primarily used to address the unjustified killings of black individuals by law enforcement,” he wrote.

“To the extent the message is being used for reasons beyond that, it operates as a political umbrella for societal concerns and related to the workplace only in the sense that workplaces are part of society,” the judge said.

The labor relations board is entitled to appeal the ruling, Bloomberg said.

The Atlanta-based retailer isn’t the only one cited for BLM-related speech.

The NLRB general counsel has also filed a complaint against Whole Foods Market on similar grounds, claiming that the food peddler’s ban on BLM signs or merchandise worn by employees violates their rights.

"Where Revolution is the Solution" Taking back the Empire