ACCOUNTING TRICKS EXPOSED
Crypto exchanges @Bullish & @Gemini are using new GAAP rules to boost their IPO income figures by counting unrealized gains from holding digital assets on income statements.
Both companies would show worse net income without this accounting... 🧵
YZY COIN HIJACKED
Kanye West's newly-launched $YZY token hit a $3 billion market cap but is at least 94% owned by insiders.
Coinbase Director @jconorgrogan revealed 87% of supply was controlled by a single multisig wallet. The token crashed 89% to $320M in just 30 mins... 🧵
🚨 Crypto Capital Corp fugitive Ravid Yosef is openly flaunting US extradition from Israel.
The woman who helped steal $800M from @bitfinex & QuadrigaCX has been running businesses, filing trademarks, and updating Pinterest profiles while under indictment for bank fraud... 🧵
Bitcoin treasury companies doubled their holdings from $56B to $112B this year, yet Bitcoin is still languishing 8% below its all-time high with just 19% YTD gains.
That's only 11 percentage points above the S&P 500's 8% return - pathetic for a volatile speculative asset... 🧵
North Korean Lazarus Group hackers are now trading Ethereum like Wall Street pros.
They're up over $40 million on proceeds from last year's Radiant Capital's @RDNTCapital hack, selling 9,631 $ETH at $4,562 a week ago and buying back 4,487 ETH at $4,154 during today's dip... 🧵