Mooners and Shakers: Donald Trump releases absurd NFT collection… ‘Sell everything, the bear market won’
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It’s getting harder to envisage that crypto “Santa rally” the market’s been hoping for, especially with FTX fallout fears still prevalent. Still, here’s something utterly weird, Donald Trump now apparently has an official NFT collection.
Yep, you read that correctly. Last time we checked, the “Tangerine Twitter Machine” as Jimmy Kimmel once called him, was no fan of Bitcoin and crypto. In fact, he’s previously labelled Bitcoin a scam and said “cryptocurrency is a very dangerous thing”.
But here he is, below, calling himself a president that was “better than Lincoln, better than Washington” (tongue in cheek… we think), spruiking his very first official collection of non fungibles.
The NFTs feature illustrations of Trump as a superhero, cowboy and astronaut, among other things. Because of course they do. The only thing missing is the line: “Let’s make crypto great again”.
I have so many questions and comments but really just in disbelief and confused and hope it all goes to zero post haste so we can start again. pic.twitter.com/sOVCTfUQRs
— The Wolf Of All Streets (@scottmelker) December 15, 2022
Our first reaction to that promo video above was that it had to be a deep fake, but it’s already making waves across mainstream news and it appears to be all too real, judging by the post referenced in the disparaging tweet, below. The @realDonaldTrump handle is apparently now used for the former president’s official Truth Social account.
If this is the #MAJORANNOUNCEMENT it is embarrassing and a slap in the face to Trump’s base.
People are struggling and losing their country.
They’re begging for real action – not childish stunts like this. pic.twitter.com/bCjrj58hqI
— Daniel Bostic (@debostic) December 15, 2022
Donald Trump is launching his NFT collection
The bear market won pic.twitter.com/VVIH63Y1AB
— yzy.eth (@LilMoonLambo) December 15, 2022
For a cutting, even-more-flabbergasted, more-amusing take on this particularly nonsensical non-fungibility, have a gander at Gregor “Let’s Make Cheese Grate Again” Stronach’s Lunch Wrap.
With the overall crypto market cap at US$881 billion, pretty flat since this time yesterday, here’s the current state of play among top 10 tokens – according to CoinGecko.
Now with all that Trump-related excitement, you’d wanna hope it pumped, at the very least, Polygon’s MATIC token. Nup.
The flaccid nature of the market today can possibly be put down to a few factors. Some hangover sentiment might be lingering from Jerome Powell’s kinda hawkish tone after yesterday’s FOMC 50bps rate-hike announcement. US stonks are certainly feeling it.
Despite the positive sign of at least a slowdown in the level of rate hiking, the Fed has indicated that they’ll be continuing their tightening stance through 2023, even if many economists tend not to believe it.
Wherever there is a highly leveraged and fragile housing market, Central Banks are starting to reconsider their hawkish stance.
Canada, Australia, and now 2 voting members of the Bank of England wanted no (!) hikes anymore.
Not a coincidence.
— Alf (@MacroAlf) December 15, 2022
The other thing that’s dangling like Damocles’ damned sword above the crypto market right now is, of course, the FTX contagion fears.
Genesis, for example, which is the biggest trading desk for pro investors in crypto, is still very much deep in the woods regarding its financial ties to FTX. If that company falls, and there are rumours it owes more than US$2b to creditors… it probably wouldn’t be a great thing for the crypto market in the short term.
Then there’s the world’s biggest crypto exchange, Binance, which has been copping a bit of “FUD” heat on Crypto Twitter here and there, with concerns about its stability amid large withdrawals from the exchange over the past week.
For what it’s worth, here’s Binance CEO “CZ” being grilled by a couple of CNBC Squawk Box hosts today. He gives a decent account of himself, although the whole thing doesn’t reveal much.
"How concerned are you that the money given to you by @SBF_FTX will be clawed back? Are you prepared to hand it back to creditors if they were to ask?" @andrewrsorkin asks @cz_binance: pic.twitter.com/nffAzVinHe
— Squawk Box (@SquawkCNBC) December 15, 2022
Just as many independent voices, it seems, are calling for calm on Binance fears, however. Here’s one:
People are asking me if @binance is fine.
Their $BTC reserve dropped -8% over the last two days but +24% up during the FTX bank run last month.
— Ki Young Ju (@ki_young_ju) December 13, 2022
Sweeping a market-cap range of about US$6.18 billion to about US$330 million in the rest of the top 100, let’s find some of the biggest 24-hour gainers and losers at press time. (Stats accurate at time of publishing, based on CoinGecko.com data.)
• OKT (OKC), (market cap: US$465 million) +6%
• Chiliz (CHZ), (mc: US$761 million) +4%
• Bitcoin SV (BSV), (mc: US$902 million) +2%
• ImmutableX (IMX), (mc: US$334 million) +1%
• Toncoin (TON), (market cap: US$3.3 billion) -9%
• Fantom (FTM), (market cap: US$579 million) -7%
• Chain (XCN), (mc: US$707 million) -6%
• IOTA (MIOTA), (mc: US$516 million) -6%
• Algorand (ALGO), (mc: US$1.5 billion) -6%
Some randomness and pertinence that stuck with us on our morning moves through the Crypto Twitterverse…
The former United States President issues NFTs. And he didn’t like crypto before. We are getting there. https://t.co/NxCD91sveh
— CZ 🔶 Binance (@cz_binance) December 15, 2022
Super confusing data coming out.
Retail sales are worst on the year, but Jobless Claims simply not kicking in yet.
— Michaël van de Poppe (@CryptoMichNL) December 15, 2022
Cathie Wood adds $3.2 million in coinbase shares to ark’s portfolio
— Crypto Crib (@Crypto_Crib_) December 15, 2022
Canadian investor and Shark Tank host Kevin O’Leary has been copping it on Crypto Twitter regarding his appearance in front of Congress this week, which is trying to get to the bottom of the FTX/SBF debacle.
O’Leary was paid US$15m by FTX to be one of its spokespeople during the height of the exchange’s success. Money he says is now lost. Answering questions in front of Congress, O’Leary called out actions from Binance as a main reason for the collapse of FTX as a company.
Does this man have no shame? Against the entire weight of an absurdly massive amount of evidence, he blames the FTX collapse on ….. Binance. https://t.co/gLgmROP3Da
— David "JoelKatz" Schwartz (@JoelKatz) December 14, 2022
A tweet by CZ cannot destroy a healthy business. SBF squandered billions with or without the involvement by CZ. I think this is pure delusion https://t.co/td4IVUqDHQ
— Benjamin Cowen (@intocryptoverse) December 14, 2022
Still, the point O’Leary makes in this next clip surely resonates with most crypto investors…
— Altcoin Daily (@AltcoinDailyio) December 14, 2022
Sam Bankman-Fried’s relatives allegedly called Fox Hill prison last night asking if vegan meals could be delivered to Sam. (Bloomberg)
— Tiffany Fong (@TiffanyFong_) December 15, 2022