EddieJayonCrypto
11 Nov 22
• The FTX implosion is going to call out a lot of people onto the carpet, including industry pal Gary Gensler• Did you miss Elon saying he doesn't know how long Twitter can stay afloat and that bankruptcy is not out of the question?• Polygon is killing it with its inclusion in the Disney accelerator...
• The FTX implosion is going to call out a lot of people onto the carpet, including industry pal Gary Gensler• Did you miss Elon saying he doesn't know how long Twitter can stay afloat and that bankruptcy is not out of the question?• Polygon is killing it with its inclusion in the Disney accelerator program• Anthony Scaramucci's SkyBridge is looking to buy back FTX's 30% stake in the firmThere is a lot going on but one topic in particular is taking all of the oxygen in the room. Here is what is on my mind today.1. The FTX implosion is still happening and people are acting surprised about some of the revelations that seem to be spilling out like Niagara Falls. With regard to the staff at FTX and Alameda if investors didn't know who was behind the company, they shouldn't have invested. The ties between people were always there. FTX.US possibly falling down because of this should not shock anyone either. The name alone will make people abandon ship. There are going to be a lot more companies that are going to feel the bite of this epic failure. What you should be looking at is how much exposure you have yourself. Then look at what has been resilient during all of this turmoil. There is more to unpack here, but I do not want you to miss out on other hot topics. 2. While all of this is going on there was a major announcement by Elon Musk that should give people pause. Because of his announcement I completely liquidated my position in DOGE. Luckily, I just about broke even. He said he does not know just how much more runway the company has. More importantly, he said bankruptcy is not out of the question. Being this is the only real use case for the meme coin. I am not saying I won't be willing to dip back in later, but, for now, I am out. 3. As per a press release from Disney, Polygon is working with Disney on developing a proof of concept for exclusive digital collectibles to recognize Disney employees during special occasions. I want you to pay attention to this. I told you a while ago this is the direction they were going to go in. The pilot will be this, but the full blown idea would be to create an exclusive Disney-only marketplace for collectibles. Most likely it would tie digital to IRL assets. This is going to be huge considering the collectibles market is over $400B and Disney is one of the most iconic names in that market. 4. As FTX and Alameda both file for bankruptcy, Anthony Scaramucci's SkyBridge is looking to buy back FTX's 30% stake in the firm. He went on to say they had no assets in custody of FTX. Smart!