Qrafty heard that Peter Thiel is an FBI asset, Yuga Labs CEO hit by reality and Elon Musk joins Mark Cuban to take on the SEC!

***Qrafty smiling the biggest smile*** Aloha, crypto curious! I am Qrafty - the crypto lovin’ honey badger 🦡 !

Welcome to Coinqraft – the daily crypto newsletter for busy but curious people who don’t have time for the crypto drama!🌟

🦡   Qrafty has fresh bits from the crypto jungle, so let’s dive in: 📰 🌟

1. Peter Thiel Is An FBI Informant

2. Reality Hits Yuga Labs CEO

3. Musk And Cuban Take On The SEC

Bonus: Morgan Stanley Says Better Times Ahead

THIEL - THE FBI ASSET

This should come as no surprise: Peter Thiel is an FBI asset, as Business Insider reports. You see, most people believe that the world runs on capitalism and the biggest companies in this world are simply the result of hard work, inspiration and dedication from entrepreneurs.

While hard work, inspiration and a brilliant mind have a lot to do with success, they don’t come even close to what is actually needed to succeed at a global level: the approval nod of the 3 letter agencies and your ability to snitch on everything and everyone in your life, especially if your work has even remote political implications.

And since everything big has a political substrate… here we are.

The real world and the realities that are presented to us via different media channels are two completely different things.

It’s no surprise about Thiel, really. No surprise for those who have been in the tech industry for a while and aren’t really hypocrites to the point where they’ve abandoned their whole sense of self and/or human decency.

Just to make this point clear, in case you are wondering if this is some kind of conspiracy theory. Thiel was recruited by one of his long time associates, named Charles Johnson. "I told him to join up or get crushed," Johnson said. It’s really that simple.

Qrafty, what does that have to do with crypto?

Qrafty doesn’t need you to believe, just to verify. Below is a list of Thiel’s (and, indirectly, 3 letter agencies) involvement in crypto companies through his Thiel foundation, along with other companies, founders and shady characters.

For those who actually thought Bitcoin and crypto was the movement that will “bring down the banks“ it must be a tad disappointing.

It’s also funny to believe that the dude who built Palantir, an extremely advanced AI software for intelligence agencies that monitors pretty much everything we are doing online and offline, isn’t somehow controlled by said intelligence agencies.

Qrafty wonders if there are political implications further down the road for Thiel, considering this article and how will this translate into crypto through the companies he is backing.

Thiel isn’t just a low time snitch, he is a CHS: Confidential Human Source. CHS, as per the FBI's Confidential Human Source Policy Guide, are not just casual tipsters. “They enter into a significant relationship with the FBI, which has a lasting impact on their lives”, as they clearly state themselves.

Things like this don’t just appear out of nowhere, and “publications“ like BI aren’t the ones to blow the whistle on such characters out of their journalistic ethos; there’s no such thing anymore, regardless of what they pretend publicly.

Most believe Bitcoin to be the brilliant invention of an altruistic do-gooder named Satoshi Nakamoto. The reality is that Bitcoin is the invention of a small team at the NSA, among which David Schwartz and Hal Finney were a part of.

Thiel specifically mentioned meeting an individual involved in the creation of Bitcoin at a cryptography conference in Anguilla, over 20 years ago. There are no coincidences in crypto, please remember that.

The reason Qrafty wrote about this is to balance the scale from previous articles and show you that it’s not just China’s Communist Party who is deeply involved in the future of blockchain and crypto via Ethereum and related projects, but the US intelligence agencies as well.

There is a very intense informational war that has no beginning and no end and is being fought behind the curtain. The victims are all of us and the actors are always hidden. The point isn’t to win the war, but to justify any and all actions required to further advance surveillance and invasion of personal life.

Banks and FI’s are rubbing their hands and can’t wait to get in on the action in crypto, but not before the CCP is eliminated as much as possible from the crypto ecosystem. That’s why they have created their own instruments (ETFs and TradFi companies that pivoted to crypto products, like PayPal) and didn’t invest into already existing crypto companies, with very very few exceptions.

Remember, where there’s money, there’s politics. Your purpose is to make money and avoid politics, while laughing all the way to the *sighs* bank after the next bull cycle in crypto. Qrafty is here to help you do that, even if you might sometimes have to endure stories like this one.

🙃 Qrafty hopes that today’s main story brought brave badgery value to you! Now it’s time for a break, you deserve a bit of fun! 😇 👇️

Yuga Labs And Reality Of NFTs

Yuga Labs CEO, Daniel Alegre, noticed that the reality of NFTs and gaming in the blockchain space is quite different than the reality of Google and Coca Cola, the companies he previously worked for.

And it’s also completely different from Activision Blizzard, a gaming behemoth Daniel worked at. A company and a startup are two completely different entities, something he recently came to realize by being the CEO of Yuga Labs.

Game development companies play in a field that is already notoriously difficult, but slapping an NFT label on top of that is like cutting your own foot before running the marathon of your life. That is because, after the bull run scam and rugpull fest, gamers hate NFTs with a passion. Just the sound of the word NFT makes them scream from PTSD.

So… you’re in a market that doesn’t really solve any problem or bring any added value to anyone in society. You are also hated by your target audience who’s better off doing their own thing without your getting rich promises and worthless jpegs. And you’re in a time when the fat lady singing for the musical chairs has stopped singing cause there’s no one playing the status game anymore.

What do you do?

You issue a statement trying to reassure the 10 people that are left in the communities you manage that you’re focused on improving things, after you just restructured the entire company.

The reality of it is that NFTs in 2023 are very similar to sheetcoins or Defi coins after 2013 and 2017. The truth is that 99% didn’t make it and most likely this will be the exact same case with NFTs. Just like world shattering crypto companies with their attached sheetcoins were a nothing burger, it’s highly likely that this is the exact same scenario with NFTs, much to the disappointment of the community members surviving on hopium.

Their bet? Survive until the next bull run. That’s it, that’s the underlying truth. The market is close to dead, volumes are dust and a very nasty recession (or even worse) is looming at the horizon. Capital in crypto is as dry as desert in a drought. To make things worse, AI is the new shining star in town and it has completely eclipsed magic internet coins.

Finally, here’s what no one is telling the NFT bag holders: Daniel will get his very generous salary, regardless of whether those JPEG’s value grows back or not. The bag holders, unfortunately, will remain with their quiet desperation and their not so magic internet pixels.

Elon Musk and Mark Cuban Take On The SEC

In a legal showdown that could rival a Hollywood blockbuster, Elon Musk and Mark Cuban have teamed up to challenge the Securities and Exchange Commission.

Ze problem? The SEC's practice of conducting internal trials without juries.

They've submitted an amicus brief to the Supreme Court, arguing that these jury-less proceedings create unequal outcomes for those facing SEC charges. Essentially, the SEC is acting as judge, jury, and executioner, and Musk and Cuban want to change that.

The case at the center of this debate, SEC v. Jarkesy, could reshape how the SEC administers justice. SEC v. Jarkesy is a case where George Jarkesy raises a red flag regarding his Seventh Amendment rights. He argues that the SEC's in-house adjudication process, resembling a one-person show with an administrative law judge handpicked by the SEC, goes against these fundamental rights.

In simpler terms, it's akin to one entity wearing multiple hats in the legal arena, taking on the roles of judge, jury, and executioner. It's like refereeing your own ball game, inevitably leading to an uneven playing field.

Also, Tesla reveals that they’ve been good hodlers and none of their $312,000,000 Bitcoin was sold in Q3 2023.

10-year Treasury yield has just crossed 4.95%

Bonds are traditionally associated with dullness, but a 5% yield on the 10-year U.S. Treasury note is far from ordinary. These levels haven't been witnessed since July 2007, a time synonymous with the turmoil of the Great Financial Crisis. The jump comes as a response to the Fed’s hike rates and perceived strength in the economy.

Since May 2023, Treasury yields have been on a relentless upward trajectory, surging from 3.3% to over 4.95% in this span. To grasp the gravity of this shift, consider that it represents a remarkable 50% increase in yields within just half a year.

As yields rise, bonds fall. To witness a retreat in bond yields, it might require the jitters of an impending recession.

Hey hey 🙃 Qrafty hopes you are enjoying the experience here and would like to regularly get Qrafty’s letters!

If so, please click on the button below. Qrafty is really really grateful to have you here, so thank you!

Tomorrow's like a burrito – it's wrapped in mystery, filled with potential, and best enjoyed one bite at a time.

Qrafty’s thought of the day

Other stories

India and the UAE continue de-dollarization

Following a landmark oil deal between the two BRICS nations settled in local currencies, both India and the United Arab Emirates (UAE) are now looking for more ways to avoid the US dollar (USD). It’s important to mention that both are BRICS countries and the whole block is going towards de-dollarization.

Morgan Stanley says crypto spring soon

A Morgan Stanley director found out that Bitcoin has cycles and mentions that prices might go up after the halving. Yeah Danny, tell us something we didn’t already know.

Median home sales price jumped 27% since 2019

It’s getting harder and harder for millennials to own a home, since prices are going crazy, as CNBC reports. Aside from houses, Qrafty also noticed that prices for everything jumped gazillions of percent and nothing seems to be happening.

Fidelity submits updated proposal

Fidelity has submitted an updated proposal for a Spot Bitcoin ETF to the U.S SEC. At the same time, Gary Gensler confirms ongoing review of Bitcoin ETFs.

Everything will get tokenized

The UK's Abrdn, a prominent fund manager, has jumped into the pool of investment for Archax, the first-ever regulated digital securities exchange in the UK. Abrdn firmly believes that more funds are destined to take the tokenized route. BlackRock’s Larry Fink said that everything will become tokenized in the near future, so this is not a coincidence, Qrafty thinks.

Market Whispers

Bitcoin started the day with a $300 in a 15 min candle to the downside but managed to recover and went up to $28,900. It still doesn't have a clear direction, can go both ways.

Qrafty can't predict the future (unfortunately) so all I can say is wait for the levels to be tested and based on the reaction we get, act on it. Look for $29.2 - $29.5k and $27k - $25.5k.

Even though BTC managed to make a green daily candle so far, ETH doesn't have much strength... barely holding $1,560. A retest of October open ($1,670) would be a nice short entry in Qrafty's opinion.

Qrafty ends channeling his inner trader.

Today is INTERNATIONAL GIN AND TONIC DAY!

That’s all from Qrafty 🦡 for today! Qrafty thanks you and wishes you to live each moment as if you are listening to the music you love most!

If you enjoyed Qrafty’s letters, you can make Qrafty mucho happy happy and subscribe below 👇️ Wahaha!