Porter & Co.
FTX founder Sam Bankman-Fried was found guilty of seven counts of fraud. Here’s an inside look at the trial (from Flesh/Markets)…
The Sam Bankman-Fried trial finished up yesterday, and boy are my arms tired. Literally. I filled eight notebooks over the four weeks of the trial. I’ve also been getting to the SDNY courthouse as early as 2 am some mornings to line up for one of the coveted seats inside the courtroom itself. I’m still
Trading on OpenSea – the biggest non-fungible token (“NFT”) marketplace – has collapsed (from chartr)…
Not Fully Thriving OpenSea, the self-proclaimed “first and largest” marketplace for Non-Fungible Tokens (NFTs), is reportedly laying off 50% of its current staff, as the platform looks to cut costs and reorganize amidst the continued fall of the digital tokens. The days of tweets selling as NFTs, “crypto punks,” and celebrities going on Jimmy Fallon
This simple strategy has almost perfectly timed Bitcoin’s major tops and bottoms (from Philip Swift via X)…
Buy near Balanced Price, sell near Terminal Price. Could it be that simple? #bitcoin cycles. Track this chart for free at Look Into Bitcoin: https://www.lookintobitcoin.com/charts/bitcoin-price-prediction/
History suggests a Bitcoin spot ETF could be very bullish for prices (from Bitcoin for Freedom via X)…
Reminder that this happened when the Gold Spot ETF was approved:
The U.S. Securities and Exchange Commission (“SEC”) hasn’t approved a Bitcoin spot ETF, but signs suggest it’s simply a matter of time (from Eric Balchunas via X)…
Hearing chatter SEC’s Trading & Markets engaged w/ exchanges this week on spot bitcoin ETF 19b-4s, is advising them they’d like the ETFs to do cash creates (vs in-kind), and has asked them to get in amendments in [the] next couple [weeks]. This isn’t unexpected but [is a] good sign nonetheless. Cash creates makes sense
Five Steps to Timing the Market
Happy Thanksgiving from Porter & Co.! As a special holiday treat, we’re sending you Porter’s contrarian classic “Five Steps to Timing the Market,” first published in 2015 by our friends at Stansberry Research.