Qrafty says that the jobs report is fake news, RWA's arrive at Coinbase and Kabosu gets a statue!

***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. Jobs Report Was Fake News

2. JPM Has No Love For ETH

3. Coinbase Gets RWAs

Bonus: Kabosu gets a statue

The Jobs Report Was Fake News

The numbers are botched. Just like the one from last month, when we got a number today to look good for the press and tomorrow we got another, revised number.

It’s going to be the exact same thing here, only this time it’s just a tad worse, mkay?

If the figures are true, what happens to the soft landing? Because that means the Fed is going to hike the rates again. Remember, they specifically mentioned that they want to see higher unemployment before they’re comfortable getting the rates down. Translation: they want to see more people out of jobs and homes to bring things back to normal.

It’s also important to mention that this is a lagging indicator and needs to be approached together with the stock market. And the stock market is telling a different story.

Also, here are the actual numbers 👇️ 

Get it now? The part time workers and the multiple job holders together represent 274k, while the actual full time workers are down 22k. That’s the real story!

🙃 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! 😇 👇️

Bottom Soon?

Although it sure looks like more pain incoming. The whole of crypto is like a deserted village, where only those who are too old to move or to retarded to leave and do something else, have remained.

On top of that, we’re now hearing that developers are fleeing crypto like it’s a house haunted by the ghosts of NFT’s past.

Usually, when this happens, it kinda signals the bottom. But past events don’t predict future ones. It’s true that there’s some convergence with the halving that’s coming up in a few months and we could draw some similarities to volumes and the overall look and feel of the space.

The biggest question mark, though? The economy. Bitcoin hasn’t been in a depressed economy since its inception. Considering that next year we’ll have elections and a halving, things are definitely going to get sparky, if you get my drift.

As you know, Qrafty doesn’t do predictions, that’s the job of CT influencers. But popcorn is always handy, as we wait and see what will happen! 🍿

JPMorgan: Ethereum More Centralized Since Merge

You can’t trust bankers, that’s pretty obvious. But, the bigger question is: did the peeps over at JayP realize that the CCP is firmly embedded behind Ifirium or are they just stating the obvious?

Looks like they’re stating the obvious, which is that since the merge and the Shanghai update, the ETH rewards from staking have become smaller and the network itself has become more centralized.

They also mentioned rehypothecation, which in short means using the tokens obtained from liquid staking as collateral on other blockchain to get more of that staking juice. Of course this ends up in disaster because… greed. It’s pretty obvious. And it’s going to be the exact same thing now!

The difference? People will forget about this and ride the bull run like the degens that they are. And when it all comes crashing down, they’ll play the victim and ask how could that happen. Every… single… time.

First RWA’s on Coinbase

Traditional finance (TradFi) is diving headfirst into the crypto frenzy! Government bonds, private equity, and credit are now becoming blockchain tokens in the latest trend called tokenization of real-world assets (RWAs).

Who'd have thought U.S. Treasuries, known for their dull reputation, would lead in tokenization? But with high yields and low risk, they're a hot ticket. Digital asset investors, fund managers, crypto firms, and DAOs are all in on it.

Impressive results too - the tokenized treasuries market hit a suggestive $666 million this year (get it?), led by Franklin Templeton. So, the conclusion is traditional finance is going full throttle into the digital realm. What's next? Cryptocurrency-powered toothbrushes? A solution to that $33 trillion government debt? Hey, you funny sir!

Erection of Kabosu’s Statue

Ok, let’s relax a bit and smile, shall we?

The Shiba Inu pup that sparked a thousand memes is on the verge of getting her very own statue, and fans are over the moon! Kabosu, the fluffy muse behind Dogecoin and the beloved "doge" meme, is about to be immortalized in Sakura, Japan. Thanks to the dedicated NFT community "Own The Doge," this statue pays tribute to Kabosu's legendary status in internet lore.

In partnership with the City of Sakura, the grand reveal is set for Nov 2, coinciding with Kabosu's birthday bash! And they're not stopping at the sky - rumor has it they're eyeing the moon for the next Doge statue installment 😂 

One of the most heartwarming things about Own The Doge is their strong commitment to charity. They proudly lead the #crypto pack in contributions to "Save The Children," living out the DOGE motto of "Do Only Good Everyday."

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 is like a mysterious package waiting on your doorstep, you never know if it's filled with confetti or flaming…

Qrafty’s thought of the day

Other stories

Hard all around, huh?

Yuga Labs, the 4$ billion (yes, with a B) NFT startup that brought us the oh so useless “Bored Ape Yacht Club“ collection, is facing the need to let go of some of its staff. Qrafty never really understood why more than 4 people needed to work there, but hey… it ain’t easy when it’s hard, right?

Psychedelic mushroom certificates Minted as NFTs

In a twist that could make Alice question her Wonderland, a startup called Blockticity has used the Avalanche blockchain to create thousands of NFT certificates. These digital marvels certify the authenticity of approximately $275 million worth of psychedelic mushrooms, hemp, and kratom – because, of course, blockchain is the perfect place for trippy validations. Why? Nobody knooooows!

AVAX jumps from Friend [.] tech clone

The price of Avalanche (AVAX) has jumped about 7% following an increase in interest in a new social app, called Stars Arena, a Friend dot tech clone, built on its blockchain.

RUNE drops 9% on suspicions of fraud

THORSwap exchange has opted for a little "maintenance" break, courtesy of some unexpectedly linked funds making their way through the platform. Among them are transactions tied to the well-known "FTX Exploiter" wallet, which made quite a name for itself during the fund-shuffling shenanigans at Sam Bankman-Fried's FTX exchange after its bankruptcy last year.

Bitcoin will use volcano energy

In a joint effort, Volcano Energy and Luxor have introduced El Salvador's inaugural Bitcoin mining pool, aptly named Lava Pool. This innovative venture harnesses the country's abundant geothermal energy reserves, made possible through a collaborative endeavor between the public and private sectors.

Market Whispers

Bitcoin was not very impressed by the US Jobs report today, maybe its among the non-believers.

You know… like from where did you pulled out so many jobs when most of the Americans are having a lot of month left until the next pay check. Oh...maybe from their second and third jobs, right! But we are here to talk Bitcoin, so... what to say about Bitcoin...not much really. It's still there, playing around 27k and 28k. Until it gets acceptance above 28.4k or below 26.6k there's not much to do. If there's no trading, what else to do on a weekend...

Qrafty ends channeling his inner trader.

Today is INTERNATIONAL BADGER 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!

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