"Privacy is not a crime"

GM, Today on Money Printer Go Brrr newsletter:

• Edward Snowden says 'privacy is not a crime' — asks support for Tornado Cash legal defense;

• XRP Lawsuit: SEC targets Ripple’s core Business in latest filing;

• The crypto whales are accumulating Bitcoin.

• Fundamental: ETH signals a possible shift in capital flows;

Edward Snowden Says 'Privacy Is Not A Crime' — Asks Support for Tornado Cash Legal Defense

Roman Storm, co-founder of the now-infamous Tornado Cash, is facing charges for creating the crypto mixer. 

Tornado Cash, the crypto mixer that let users send Ethereum as anonymously as a superhero in a mask, got the cold shoulder from the U.S. Treasury.

They sanctioned it, claiming it was a laundromat for dirty money.

This led to Storm’s arrest and the subsequent legal battle that’s now a cause célèbre in the crypto world.

Storm isn’t just sitting back and waiting for the storm to pass. He’s launched a DAO campaign, “We Want Justice DAO” to fund his legal battle.

Snowden isn’t the only big name backing this cause.

Ethereum’s Vitalik Buterin chipped in with a donation – 12.6 ETH, to be exact.

This is being framed as a battle for the fundamental freedom to code and keep data private. 

It’s like a digital-age David and Goliath story, but with more cryptography and fewer slingshots.

XRP Lawsuit: SEC Targets Ripple’s Core Business In Latest Filing

The SEC is digging deep into Ripple's laundry basket, demanding financial statements and sales contracts.

It's like they're saying, "Show us your financial diary, and don't skip the juicy parts!"

Ripple tried to play it cool, calling the SEC's demands irrelevant, like saying, "You don't need to see our financial secrets to solve this puzzle."

But the SEC isn't buying it and is basically asking for every receipt Ripple ever got.

In essence, this legal battle is more than just a dispute over documents; it’s a strategic battle that could shape the future of Ripple and its dealings with XRP.

The Crypto Whales Are Accumulating Bitcoin

On Bitfinex, Bitcoin's price has been acting like it's on a sugar rush since January 16th.

It's been higher than on other exchanges, like Coinbase, by about $200.

It's like Bitfinex is throwing a party and the Bitcoin price is the guest of honor, all thanks to the crypto whales who are buying it up.

These crypto whales are grabbing Bitcoin like it's on a Black Friday sale.

They've been doing this since last year, especially when Bitcoin's price tag dipped below $40,000.

Bitcoin's price has been riding a rollercoaster, and it looks like it's copying the ups and downs of the Hong Kong stock market.

When the stock market there jumps or falls, Bitcoin's price seems to jump or fall too. 

This might mean that Bitcoin's price won't go much lower than $38,000, at least for now (No financial advice).

Fundamental: ETH signals a possible shift in capital flows, let the money come in.

ETH has witnessed a surge in activity within the derivatives market, potentially indicating a change in the direction of capital flows. 

Positive market sentiment surrounding ETH is reinforced by another metric: the Net Unrealized Profit/Loss (NUPL) for short-term token (STH) holders.

The STH-NUPL has recently exceeded the 0.25 threshold, marking the first time it has done so since the all-time high in November 2021.

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