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Transcript

Su 01/11 | Daily Crypto & Macro News · Panic Drop Podcast

• 0:02
  SPEAKER_00: Happy Sunday all and welcome to your daily crypto and macro rundown.
• 0:06
  SPEAKER_00: Bitcoin is sitting around $77,700 this morning,
• 0:11
  SPEAKER_00: up a little under 1% and the big story is still that massive Binance hack.
• 0:17
  SPEAKER_00: Except now it has an official culprit because the FBI has confirmed
• 0:21
  SPEAKER_00: that North Korea is behind the $6.3 billion theft.
• 0:25
  SPEAKER_00: The good news is that Binance says it has already covered 90% of the losses,
• 0:30
  SPEAKER_00: the major coins on the platform are fully He backed again
• 0:33
  SPEAKER_00: and withdrawals should start coming back in phases within the next few hours.
• 0:38
  SPEAKER_00: President Trump,
• 0:39
  SPEAKER_00: for his part,
• 0:40
  SPEAKER_00: says he is not concerned and that he will simply talk to North Korea about it,
• 0:44
  SPEAKER_00: while CZ joked that he would rather fight the North Korean hackers than Elon Musk.
• 0:50
  SPEAKER_00: Funny enough,
• 0:51
  SPEAKER_00: a random Ethereum glitch actually helped the good guys because it forced Thorchain
• 0:55
  SPEAKER_00: into an emergency pause that froze swaps on 12 of its 13 chains and slowed down
• 1:01
  SPEAKER_00: the laundering of those stolen funds.
• 1:04
  SPEAKER_00: Coming out,
• 1:05
  SPEAKER_00: October goes down as the worst month for crypto hacks ever,
• 1:09
  SPEAKER_00: with about 6.5 billion dollars stolen,
• 1:12
  SPEAKER_00: and so much for Uptober because Bitcoin finished the month down over 7%,
• 1:18
  SPEAKER_00: Solana dropped almost 19% and XRP lost about 16%.
• 1:25
  SPEAKER_00: In fact,
• 1:25
  SPEAKER_00: Bitcoin and Gold are the two worst performing major assets of the year so far,
• 1:31
  SPEAKER_00: which has never happened before.
• 1:33
  SPEAKER_00: Spot Bitcoin ETFs saw about $643 million walk out the door on Friday,
• 1:40
  SPEAKER_00: and Bitcoin closed Halloween near 77,000,
• 1:43
  SPEAKER_00: a long way from the 110,000 it hit on Halloween last year,
• 1:48
  SPEAKER_00: just as the white paper celebrated its 18th birthday.
• 1:52
  SPEAKER_00: Over in stocks,
• 1:53
  SPEAKER_00: October was brutal for Intel,
• 1:55
  SPEAKER_00: down 45%, and Reddit down 35%, while Meta and NVIDIA also slipped double digits.
• 2:03
  SPEAKER_00: Amazon's cloud business now brings in more revenue than $470
• 2:08
  SPEAKER_00: And Microsoft's Azure growth jumped to 48%,
• 2:14
  SPEAKER_00: though spending is going through the roof.
• 2:16
  SPEAKER_00: Next week is packed with earnings,
• 2:18
  SPEAKER_00: with Apple and Palantir on Monday,
• 2:20
  SPEAKER_00: then AMD, Shopify, Uber, Apploving, Cloudflare and Airbnb.
• 2:25
  SPEAKER_00: In altcoin land, Ethereum is up about 1% near $2,266.
• 2:28
  SPEAKER_00: Tokenized stocks just hit $4.6 billion in market cap, the same level stablecoins
• 2:37
  SPEAKER_00: It's where we find the truth.
• 2:38
  SPEAKER_00: Listen to the Panic Drop.
• 3:00
  [music]