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Carpenter made $415 million on Tesla, then lost it all 😐
Christopher DeVocht, a humble carpenter from Vancouver Island, turned an $88,000 portfolio into a $415 million fortune when he went on what has to be one of the hottest hot streaks in the history of financial markets by betting big on Tesla stock options in 2019 🔼
DeVocht claims his advisers at RBC Dominion Securities encouraged him to keep everything in Tesla, applauding his “extraordinary wealth” while failing to warn him of the risks. When Tesla’s stock crashed in 2022, his entire fortune evaporated almost overnight.
Now, he’s suing RBC and Grant Thornton, accusing them of reckless advice that led to his financial ruin ⚖️
Imagine, having hundreds of millions and then losing it all in less than a day 😬
During a press conference, when Secretary of the Treasury was asked about concerns about the dollar's status as the world's reserve currency, the U.S. Treasury sign fell off her podium 😄
The total value of tokens unlocked this week will exceed $1.19 billion with 77.5% of this huge amount falling on a single coin. Selling pressure may increase for TIA, but be careful with shorting as we may see some short squeezes 😳
We are once again approaching a key resistance level in this downtrend, which has been ongoing for over seven months. Will bulls manage to overcome selling pressure this time? 👀
Hong Kong Stock Exchange will launch a Virtual Asset Index Series on Nov. 15, offering unified reference prices for Bitcoin and Ethereum in the Asian time zone 🇭🇰
The World Bank has "misplaced" $41 billion in climate change funds, with billions unaccounted for. Investigators found no clear public record detailing where the money went or how it was spent 🔍
Elon Musk says he can help cut US government annual spending by $2 trillion if Donald Trump is elected president 🕑
Metaplanet’s total Bitcoin holdings surpassed 1,000 following its latest acquisition, company's stock jumped by 8% 🧪
✅ All week long, Bitcoin traded in a range of $68,500 - $65,500, at first optimistic massive ETF inflows pleased the bulls, well later there was a market correction after regular Tether FUD 🪀
Weekly news digest:
💎 Crypto
🔸 Pennsylvania passed the Bitcoin Rights bill to protect rights to self-custody and allow using BTC as a payment method
🔸 Chainlink has launched new CCIP private blockchain transactions tech
🔸 Chainlink and Swift unveiled blockchain integration to streamline digital
The 28-year-old Corinna Kopf announced her retirement from OnlyFans after earning a reported $67 million since joining in 2021 🔞
This news went viral as many people were shocked by the fact that just by nude photos and videos this girl was making more than $22 million a year.
But don't rush to create an account in hopes of making easy money. The median earnings of a “creator” on OnlyFans are only $140 per month 😐
Almost all profits on the platform are taken by accounts in the top 15%. The top 1% of earners make 33% of all money and the top 10% make 73% of all platform revenue 📊
Many crypto tokens are created primarily to benefit a small circle of insiders and VCs. These project's tokenomics focus on enriching their founders rather than delivering long-term value, leading to a lack of genuine commitment to the success in the long period.
☹️ Most of these tokens lack intrinsic value and aren't truly connected to the technology they claim to represent. Without real utility or solid fundamentals, they're prone to losing value over time and will eventually become worthless by underperforming market leaders for long enough.
During bull markets, even weak assets can experience significant price increases due to overall market enthusiasm—the "rising tide lifts all boats" effect. This can give the illusion that these tokens are successful when they're simply riding the wave of market optimism 🙅♂️
When the market corrects, investors typically shift their capital from speculative, overhyped tokens to solid projects with proven track records. Funds flow back into fundamental blue-chip crypto assets like BTC, ETH, and SOL, which have demonstrated resilience 🧪
NEW: A coalition of 🇯🇵 Japanese institutions including Mitsubishi UFJ Trust and Banking Corp, brokerages like Nomura and Daiwa Securities, and crypto exchanges such as bitFlyer, and Bitbank is proposing the launch of crypto ETFs focused on Bitcoin and Ethereum in Japan.