Default in California, and the US tax decided to finish off the cryptos in FTX

To his misfortune, China recently adopted a special law stating that neural network texts must be with a special mark – and our Hong not only neglected it, but also fake news accidentally generated about an alleged train accident with victims. And take this note and read 15 thousand Chinese (well, that is, approximately all residents of one Chinese apartment building).

Now hun can get fucked jailed for inciting fake news for potentially up to 5 years. But on the other hand, he may end up in textbooks as the first inmate for abusing large language models …

Just in case, here is a photo of a beautiful Chinese train (everything is in order with it, no incidents, everyone inside and out is alive!)

Crypts have only two troubles: SBF and IRS

If you remember the history of the collapse of the FTX crypto exchangethen the bottom line is that curly guy Sam Bankman-Fried pocketed about ten billion dollars of money from exchange clients and spent them on … yes, to be honest, it’s still not very clear – how he managed to sink so much money to the ends, but the fact remains.

For the past six months, the exchange has been going bankrupt, during which moderately optimistic statements have periodically appeared in the vein that some of the client funds will probably still be able to be returned.

But last week, the American tax and rolled out tax claims against FTX/Alameda as much as $44 billion (!) which obviously exceeds the size of all the assets of the group. But even more fun is that within the framework of bankruptcy, the requirements of the tax authorities take precedence over the clients. Which, as it were, hints at the fact that the poor cryptans who once trusted FTX have every chance of getting back about nothing.

Daniel Werfel (Chief Commissioner of the IRS) seems to want to tell the cryptans: “I heard that one curly guy here shod you a little for money. And can I also make my own bite, since it’s customary with you? ” 👉👈

Tether on the path to recovery?

Tether (USDT) is the largest stablecoin with a current capitalization of under $80 billion. And historically, it has also been “mudkiest” – in terms of the fact that there were big questions about the non-transparent composition of its reserves (and, consequently, about its reliability).

Many feared that the greedy managers of Tether in the era of near-zero interest rates on safe assets (see 2020-2021) secretly stuffed all sorts of different unreliable assets into reserves instead of them – and now they are hiding a hole in the balance sheet. But at the same time, time is on the side of USDT here: after all, now even the most reliable short US Treasuries give as much as 5% yield – so, even if you don’t play with any risky investments, the hole (if there was one) will eventually “overgrow” due to new profit.

It seems that in his new report the guys from Tether are hinting at exactly this: they boast that the accumulated cushion of equity (the excess of reserves over liabilities on issued coins) has already reached $2.5 billion (a year earlier, this amount hung around a miserable couple of hundred million). Additionally, the report slightly increased transparency and began disclose separate investments in gold and bitcoin.

Paolo Ardoino (CTO at Tether) seems to be cynically trying to be good!

In short, from a purely financial point of view, the more time Tether stays afloat, the more likely it is to continue to do so further (after all, the business of collecting free dollars from cryptocurrencies and investing them at 5% per annum tends to “self-correct” any mistakes of the past) .

However, this does not at all protect USDT from regulatory risks – which, apparently, are only growing in the Western world. Last week, another “dear guy” (ex-head of the SEC) declaredthat this Tezer of yours is just a giant house of cards that needs to be banned in the US as soon as possible.

Feel Good Man

And to the news of shieldcoins: PEPE-coin increased in the price of about 20 times in two weeks by May 5 (and reached a capitalization of one and a half billion dollars), and then fell back down by 60%. Yes, we are talking about the amusing green frog Pepe with a deep inner world…

In general, for me, Pepe has always been a harmless meme from the 2000s – but then at some point they began to write that militant “right-wingers” allegedly appropriated him culturally, and now he is scumbag. On the other hand, Coinbase analysts last week even brought an official apology for comparing Pepe the Frog to a racist symbol and “failing to show the full historical picture regarding this meme.”

In short, if some respected culturologists and memographers read me, then plz explain in the comments: posting memes with a frog is now a cringe or a base? What does the current agenda say about this?

Military training with surprises

May 10 President of the Russian Federation signed Decree on the draft of the reserve for military training in 2023. How many people specifically plan to call for this event is not indicated in the document; but there are two certain secret points in the decree.

Who can be called up for training, what it threatens and what it all means – we plan to reveal in the coming days with Kirill Korshunov (a lawyer and my constant co-author on the topic of military service) in a separate article. If you don’t want to miss it, subscribe to my telegram channel.

Bad news of the week: Serbs should no longer wait for IT people to visit for permanent residence

A month ago, we discussed the initiative of Serbian parliamentarians who wanted to start issuing passports to foreigners after a year of living in the country. Wanted, yes overwanted: after all, the European Union hinted to them in an opaque way that for such tricks Serbia could be discharged from the status of “respected Europeans” and visa-free within the EU could be canceled.

In general, we actually have a new column here: “Bad news of the week”, also known as “Galya, cancel!” – for those news that once fell into the mirror heading “Good news of the week”, and then something deteriorated.

By the way, Milla Jovovich's father was a Serb (as you might guess from the surname), but her daughter already bears the surname Anderson (but looks like a copy of her mother) — By the way, Milla Jovovich’s father was a Serb (as you might guess from the surname), but her daughter already bears the surname Anderson (but looks like a copy of her mother)

Good news of the week

President of the Russian Federation stripped off a ban on flights of Russian airlines to Georgia. And this is good! (Also visas canceled for Georgians who want to come to Russia – but here the government guys from Georgia, it seems, are not very happy with this.)

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