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⌐◪-◪ → Andrew Tate wants to launch his own cryptocurrency and says he’ll, “back it with $100M of my own money and never sell”.

This is pretty ironic considering he released a video last year roasting crypto and NFTs, probably because he got burned on a few stupid investments. His exact words were:

• “I DO NOT HAVE ANYTHING TO DO WITH ANY CRYPTO”

• “I’m not a scammer like every other “influencer”

• “I don’t need to rob my fans”

Launching a token would be so unbelievably hypocritical that it might just be an attention-grabbing shit-post. If it is, it’s clearly working.

Anyway, I’ll never understand the Tate worshipers who believe he made hundreds of millions from “legitimate” businesses while desperately shilling a $50 paid group. Actions speak louder than words.

⌐◪-◪ → I want to call BlackRock the dark horse of the spot BTC ETF race, but let’s be honest — we all knew they’d come out on top.

With that said, “BlackRock” definitely has the coolest TradFi name, but maybe that’s Larry Fink’s pro-crypto stance starting to work its magic on me.

On a more serious note: BlackRock’s $IBIT is the first ETF to trade more than $GBTC in a single day, at $301M in daily volume.

This is significant considering Grayscale's massive headstart having their product in the market (as a trust, not ETF) since 2013.

So why is this happening? Well, probably because Grayscale’s ETF fees are a whopping 1.5%, which is 6x BlackRock’s 0.25% fee and 7.5x Bitwise’s 0.2% fee (the lowest).

As long as the low-fee providers can survive — i.e. their costs do not exceed their revenue — then Grayscale will probably lose their lead as the largest ETF by assets under management. Grayscale currently has $20.7B AUM, that’s 6.9x BlackRock’s ETF which just surpassed $3B AUM.

⌐◪-◪ → Looks like Facebook — sorry I mean Meta — just realized a $4.65B quarterly loss in its Metaverse division. Zooming out, Meta reported a staggering $42B loss since 2020 on its metaverse ventures.

While I love roasting Zuckerberg, the truth is, large R&D spending like this is necessary if you want to continue growing/innovating. For context, Apple spent over $100B in R&D over the last 5 years — with an estimated $20B on the Vision Pro headset alone.

Again, it’s fun to roast ZuckZuck, but this headline was a bit misleading and needed context. I get it though, it was a juicy headline, “Meta loses billions on Metaverse”. Lol.

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