Sunshine After the Crypto Storm
GM, crypto fam ☕️
It’s Goat News time. So, grab your coffee mugs, HODL them tight, and get ready to DCA into today’s crypto news.
Coming up: Tom Lee’s BTC Forecast: Sunshine After the Storm, Nawfal’s Dance with the FBI, and Chiru Labs’ NFT Slip-Up.
Twitter Audio Star Mario Nawfal Under Federal Scrutiny
Mario Nawfal, a rising star in the Twitter audio space, is under federal scrutiny, according to two individuals who claim to have spoken with FBI and SEC officials.
Nawfal, an entrepreneur, has gained significant online fame in recent months, hosting some of the largest Twitter Spaces on the platform. His public association with Elon Musk, who has participated in his discussion groups and endorsed them multiple times, has further boosted his profile.
However, Nawfal’s rapid rise has not been without controversy. He faces allegations of fraud and business wrongdoings from former employees, contractors, and clients.
Chet Long, a retired U.S Air Force analyst who worked with Nawfal as an adviser, and Sigmund Holtz, a former contractor for Nawfal, have both reported Nawfal to federal authorities.
Long alleges that Nawfal embezzled funds from a company where he was previously CEO and discussed tax evasion openly.
Nawfal denies these allegations and maintains that he has an “impeccable record devoid of any legal proceedings.”
Fundstrat's Tom Lee Optimistic About Bitcoin's Future
Tom Lee, managing partner at Fundstrat Global Advisors, has expressed optimism about the future of Bitcoin (BTC).
Despite facing significant regulatory challenges, Bitcoin has demonstrated resilience, leading Lee to believe that the digital asset is here to stay.
He also notes that while the crypto space has seen some bad actors, more traditional financial players are entering the scene, which could signal a brighter future for Bitcoin.
Lee also points out that Bitcoin is particularly popular among millennials, who are set to inherit substantial wealth in the coming years.
This generational wealth transfer could lead to an increase in Bitcoin holders. At the time of writing, Bitcoin is trading for $30,668, up 1.8% in the last 24 hours.
Chiru Labs Faces Backlash Over Azuki Elementals Collection
Chiru Labs, the company behind the Azuki Elementals collection, is facing significant backlash after similarities were noticed between Elementals and the original Azuki collection, released in February 2022.
Despite the collection selling out in 15 minutes and netting the company roughly $38M, the perceived lack of originality led to a massive sell-off. Prices fell from over 14 $ETH to 9.7 $ETH just a few hours after launching.
This incident has damaged the community’s trust in the company, leading to a significant drop in price withing the next day. for all their collections.
Crypto Quickbites
- Phoenix Rising: Bankrupt FTX begins the process to relaunch the exchange, according to WSJ. Will it soar again?”
- MicroStrategy’s BTC Shopping Spree: The company adds another 12,333 Bitcoin ($347 million) to its stash. Is this a bullish signal?
- Binance Hits Regulatory Roadblock: German regulator BaFin denies Binance’s crypto custody license application. What’s next for the crypto giant?
Grand Finale
As we wrap up today’s edition, let’s ponder on these wise words from the legendary investor Warren Buffet:
“Risk comes from not knowing what you’re doing.”
And with that, we close another edition of Goat News!
Remember, knowledge is power, so share this with your friends and help us cultivate a more informed crypto community.
Don’t forget to follow me on Twitter for the freshest crypto trends
GOAT out ✌️
