How an Uber ride cost someone $300K

🚕 How an Uber experience price somebody $300K

Plus: Justin Solar calls out Coinbase on delistings

GM. Right now’s Every day Squeeze delivers a basket of blockchain fruits – some ripe, some a bit of bruised, however all the time recent.

⚖️ Coinbase bought sued for delisting WBTC.

🚕 How a pretend Uber driver stole $300K in crypto.

🍋 Information drops: the NFT neighborhood expects an OpenSea token, Ripple CTO’s message in regards to the launch of RLUSD + extra

🍍 Market taste at the moment

it is a large day when even your uncle, who thinks blockchain is one thing you could find in a shed, begins asking questions 🤔 The Worry and Greed Index is again to “Excessive Greed” at 83, and Bitcoin set a brand new all-time excessive at $106,488.

One other milestone: the Bitcoin/Gold ratio ringing in a brand new all-time excessive at 40 ounces of gold per Bitcoin. There’s chatter in regards to the subsequent cease being an 89:1 ratio.

Now, how did we get right here?

Donald Trump stated that he desires to “do one thing nice” with crypto;

Microstrategy is about to hitch the Nasdaq-100 Index this month = extra eyes on its shares = extra Bitcoin buys;

Individuals are anticipating an rate of interest reduce this week, translating to extra liquidity that tends to make danger belongings look enticing.

Bitcoindata21’s calling it: a short-term high of round $140K could possibly be on the desk by early January. The MVRV ratio – a measure of how a lot revenue long-term holders are sitting on – nonetheless has room to stretch. In plain phrases? Most long-term holders aren’t cashing out simply but, which suggests there’s in all probability nonetheless some gasoline within the tank for extra upward motion earlier than we hit any severe resistance 🚀

Who is aware of, possibly by the point your uncle figures it out, Bitcoin could have doubled. Or tripled. Both means, he’ll undoubtedly be texting you for pockets setup ideas 👛

🥝 Memecoin harvest

If these memecoins are a joke, then the punchline is revenue 🤪

Knowledge as of 11:00 AM EST.

🫖 Wrapped up in drama

Everybody, dinner’s prepared! Tonight’s particular – beef with a aspect of piping scorching tea.

BiT International is coming for Coinbase’s neck with a $1B lawsuit, claiming their Wrapped Bitcoin (WBTC) bought delisted simply so Coinbase’s cbBTC may steal the wrapped Bitcoin crown.

Coinbase’s chief authorized officer, Paul Grewal, clapped again with the traditional “nothing private – it is simply enterprise <3” line, saying that Coinbase solely lists belongings that meet their excessive requirements. And, apparently, WBTC not makes the reduce.

In fact, BiT International affiliate Justin Solar wasn’t having it. He got here by way of with receipts – an previous submit from Coinbase CEO Brian Armstrong that stated Coinbase lists “each asset the place it is authorized to take action.”

Haha, gotcha 😃🫵 Besides… Armstrong fairly explicitly talked about these itemizing requirements. However hey, what’s a tea session with no little selective storytelling?

🚶 Strolling is underrated

Issues to be careful for earlier than getting right into a taxi:

The driving force may scent like they chain-smoked 40 cigarettes a second in the past;

You is perhaps handled to the worst playlist you’ve got ever heard;

The “so, yeah… politics” dialog starter that by no means ends in settlement;

“I do know a shortcut”;

Oh, and apparently, your crypto pockets may get drained.

Working example: Nuruhussein Hussein, who stole $300K in crypto pretending to be an Uber driver in Arizona.

How did he pull that off? This is the passenger’s POV:

You are ready to your experience. A automotive pulls up, and the motive force calls out your identify. Bizarre that the app would not say they’ve arrived… however hey, they know your identify, so it is gotta be legit, proper?

Subsequent, the motive force asks to your telephone, saying his is lifeless or providing to “repair” why the app did not verify his arrival;

Whereas they have your telephone, they switch all of your crypto to a chilly storage pockets.

Now, Hussein’s POV of the aftermath: you get arrested and hit with prices of theft, fraud, and cash laundering.

In any case, ethical of the story: if it feels sketchy, it in all probability is. Grandma did not inform you about stranger hazard for nothing – make her proud, watch out.

🍋 Information drops

🌊 OpenSea’s registration within the Cayman Islands has individuals speaking a few doable token launch and airdrop. Many see this as a solution to sidestep US laws.

💸 Ripple’s CTO, David Schwartz, warned about doable “provide shortages” when their RLUSD stablecoin launches. He additionally stated: “Please do not FOMO right into a stablecoin! This isn’t a possibility to get wealthy.”

🤑 Donald Trump’s DeFi venture, World Liberty Monetary, went on a $45M token buying spree this month. The haul? ETH, cbBTC, LINK, AAVE, and ENA.

🐿 Mark Longo, proprietor of Peanut the Squirrel, despatched Binance a cease-and-desist. He accuses the trade of utilizing his Peanut the Squirrel trademark with out permission to advertise the PNUT token.

🤖 OpenAI co-founder Ilya Sutskever thinks we’re nearing the tip of the AI pre-training period, and AI superintelligence is on the horizon. He identified that computing energy is enhancing sooner than the quantity of knowledge accessible for coaching, so we should now work with what’s already on the market.