Posted 1 month ago | by Catoshi Nakamoto

Elon Musk sends the media into a frenzy in his bold attempt to purchase Twitter, an ex-member of Safemoon’s marketing team gets exposed in a massive pump and dump scandal and as the SEC approves another futures ETF, the industry begins to wonder when a spot ETF will get the greenlight. My name is Ben. This is your crypto nightly wrap-up, let’s get it!

10 days after purchasing 9% of Twitter and declining a seat at the table, Elon Musk decided that that the only way to change the company’s censorious policies would be to purchase the rest of the pie and change the rules from the inside. At 7:23 this morning, the famous Tesla billionaire tweeted out, “I made an offer.” The offer he made to buy the company outright was for $43 Billion dollars…a mind-boggling price for free speech. In the securities filing, Musk wrote a letter directed to Twitter Chairman Bret Taylor that reads, “I invested in Twitter as I believe in its potential to be the platform for free speech around the globe, and I believe free speech is a societal imperative for a functioning democracy. However, since making my investment I now realize the company will neither thrive nor serve this societal imperative in its current form. Twitter needs to be transformed as a private company.” He ended the letter by saying that if his offer is declined, he will reconsider his position as a shareholder and that, “Twitter has extraordinary potential. I will unlock it.” It’s yet to be determined if Twitter will accept his offer or not, but they did mention that their response would be in the best interest of all Twitter stockholders. The implications of this bold purchase will send a ripple effect through the entire stock and crypto market. Twitter’s stock has been flying high since Musk purchased his first 9% of the company and Tesla’s stock reacted negatively to the news. If his bid officially becomes a purchase, Twitter’s San Francisco headquarters will become a homeless shelter (source) and DOGE coin will most likely launch with Falcon 9 all the way to the moon.

One thing that will never ever make it to the moon…is Safemoon. I wasn’t surprised when I found out that the controversial alt-coin was implicated in a $12-million-dollar pump and dump…hate to say it, but I told you so. Unraveled by fellow YouTuber Coffeezilla, this scam was carried out by Ben Phillips, a popular British internet personality who was on the marketing team for Safemoon. At the same time when Phillips was tweeting out bullish things like “buy the dip” in order to pump the price, he was offloading massive amounts of Safemoon, buying fancy cars and living the scam life. Where it went wrong is when he asked his 749k followers to buy him coffee; attached to that tweet was his crypto wallet address. Looks like he forgot that BSC is on a public ledger; a few suspicious onlookers followed the money, blew the whistle and exposed him for the fraud he is. When the dust settled, it turns out he bought over $4 million worth of Safemoon on PancakeSwap, pumped the price on the internet and sold it all over time for a little over $16 million; profiting $12 million off the scam. Looks like he’ll be spending sometime on the dark side of the moon.

In other news, the SEC recently greenlit a futures Bitcoin ETF application from Teucrium and the way they did it has eyebrows raising all around the industry. Long story short, all of the past ETFs were passed under the Investment company Act of 1940, aka “40 Act”. This recent futures ETF was passed under the “33 Act.” This is significant because the spot ETFs that have been denied, were submitted under the 33 Act, and now, for the first time in history, a futures ETF was passed under the 33 act. The inconsistency highlights that the SEC stepped on their feet and since this ETF passed under the 33 Act, many people in the industry are getting their hopes up that the first spot ETF will be approved in a mere matter of time. Getting a spot ETF is important for the future of Bitcoin because that would open the flood gates to crypto in the stock market, increasing the price and volume significantly. Coindesk.com reports, “A Nasdaq survey of 500 financial advisers found that 72% would be more comfortable investing in crypto is there was also a spot ETF.” The SEC will never make this easy on us and they’re holding off on the spot ETF until the regulation clarity is cleared up. But now, since a futures ETF has been passed under the 33 act, it seems to me that this is only a matter of time and spot ETF is inevitable.

That’s all I got. Be blessed. BitBoy Out!

About Catoshi Nakamoto

c6ea0c3794492f30883e516d39b2597a?s=90&d=blank&r=g REAL Reason Behind Elon's Twitter Acquisition (Exposing SEC Corruption)Activist/Journalist, former writer - We Are Change, The Mind Unleashed, Coinivore, others. Currently writing for - Activist Post and Bitboy Crypto. Not Right or Left Apolitical. I Care About Truths (CATS.) Cryptocurrency enthusiast, I mined and lost 100+ BTC in 2010-2011. I work with - Bitboy, SoMee, CEEK, Presearch, and W3BT aka FMW Media Group. Friend of mostly everyone who isn't a dick. Just A Cool Cat.