Pompliano said the market was FTX’s “judge, jury, and executioner.”

Anthony Pompliano, a prolific podcaster and investor in cryptocurrencies, maintains that he has not have lost confidence in people or in the cryptocurrency sector despite the disheartening behavior of the former CEO of FTX, Sam Bankman-Fried.


Bankman-Fried, who was once widely regarded as cryptocurrency’s “white knight,” is now a pariah in the cryptocurrency industry due to the “careless” mishandling of FTX customer funds and his ongoing strange behavior on Twitter. He has also admitted that the “careless” mishandling of FTX customer funds was his fault.


Pompliano was asked on November 17 at the Texas Blockchain Summit how to assure high-quality representation “in the corridors of power.” In response, he said that market forces eradicate bad individuals as swiftly as they kill poor businesses:


“It may seem a bit contradictory, but the free market is a hell of a fucking referee,” said one commentator. If you see what just occurred, you’ll see that this industry is the one who demanded accountability from the industry. “CZ is the one who brought that firm [FTX] to its knees by using the dynamics of the market,” he said.


On November 15, Pompliano made the following statement while appearing on CNBC: “I believe there are a lot of individuals claiming, ‘I don’t have any knowledge. I have absolutely no idea what is going on.'”


Pompliano also said that he had firms that had money on FTX’s platforms and that he had an advertising arrangement with the cryptocurrency exchange.


Together with Mark Yusko, Bitcoin advocate and entrepreneur Anthony Pompliano established the digital asset management firm Morgan Creek Digital Assets in 2018 in the state of North Carolina. Additionally, he is the proprietor of the website Pomp Crypto Jobs. As a result of his statements that the pseudonymous creator of Bitcoin, Satoshi Nakamoto, should be awarded the Nobel Peace Prize, his advocacy for the inclusion of cryptocurrencies in pension funds, and his dismissal of the energy consumption of cryptocurrency mining with the statement that “crucial things in the world use energy,” he has garnered a lot of attention.


Before FTX invested $680 million in BlockFi as part of a rescue in July, reports indicate that Morgan Creek Digital Assets was working on putting together an alternative bid for the cryptocurrency lender.


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Shark Tank Investor Kevin O’Leary Says Solana (SOL), Polygon (MATIC) and Hedera (HBAR) Have ‘Large’ Potential

Shark Tank star and billionaire investor Kevin O’Leary sees several leading altcoins that he believes have the potential to add problem-solving value as the blockchain world expands and evolves.

In an interview with Anthony Pompliano on The Best Business Show, O’Leary says cryptocurrencies should be viewed as functional “software” rather than simply alternate forms of money.

When it comes to determining which blockchain projects to pursue, the investor says he relies on the same process of vetting teams and vision as with traditional software companies. He cites his hands-on approach with layer-2 scaling solution Polygon (MATIC) as a real-world example of the strategy.

“I’ve seen this movie before. I was an investor in software engineers twenty-two years ago at the Learning Company when we made educational software.

The way I used to do it then is the way I’m doing it now…

If I want to invest in Polygon, I want to meet the engineering team, which I did in Dubai. I met the team, heard the vision of what they’re doing, looked at the economic reality at the outcome, the potential of it.

First is team. If I check the box on team – smart guys, good engineers, good strategy, good group – I’m interested.”

O’Leary says that beyond the initial concept, he wants to see the potential for a positive economic impact as well.

“Here’s the second test. What economic value are they creating?

In the case of Polygon, aggregating transactions to reduce gas fees on Ethereum is a smart idea.

You have an economic reason to pursue that. You save money. Transaction fees are less. I think the potential of that is large.”

The Shark Tank personality next mentions enterprise-grade public network Hedera (HBAR), which is tailored for security and regulatory compliance.

“Great team, good engineers. What’s the economic premise that would keep that growing?

Boeing wants a quasi-centralized/decentralized platform, they want the best of both worlds.

HBAR can deliver that, check the box there.”

Lastly, the billionaire mentions smart contract platform Solana (SOL) as a project seeking unique solutions.

“They’re trying to solve problems a different way to speed everything up.

Check the box. Who’s working on that? [FTX exchange head] Sam Bankman-Fried and his team. Why wouldn’t you bet that horse?”

O’Leary concludes his remarks by reiterating the importance of conceptually looking at cryptocurrencies differently.

“They’re software platforms. I say to institutions, ‘You criticize me for investing in Bitcoin? You own a big position in Microsoft [and] a five-percent weighting in Yahoo. What is that? That’s software.

‘Why don’t you do the same thing in Bitcoin? Why aren’t you in Ethereum? Why aren’t you in HBAR and Polygon? Why aren’t you in Serum? Why aren’t you in Helium?’

With that attitude, it’s hard to say I’ll only invest in publicly traded software companies. One day crypto and all these software platforms are going to be the 12th sector of the S&P.”

Bitcoin (BTC) and Ethereum (ETH) are perhaps the most well-known cryptocurrencies. Serum (SRM) is a trustless decentralized finance protocol, while Helium (HNT) is an Internet-of-Things open-source public blockchain.

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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Jim Cramer cashes out half his ‘phoney money’ Bitcoin to pay off mortgage

Business TV personality and converted Bitcoin proponent Jim Cramer has sold half of what he calls his “phoney money” Bitcoin portfolio to pay off his mortgage.

During Thursday’s broadcast of “Squawk on the Street,” co-anchor Jim Cramer revealed that he’s “decided to become an apostate,” by selling off half of his Bitcoin holdings to pay off his home. 

Cramer, who also hosts Mad Money, said that he bought a lot of Bitcoin at $12,000 because he thought it was a currency, and finally decided to take profits.

“I know people are going to be angry with me, but I paid off a mortgage yesterday with it.”

“It was like, kind of, phoney money paying for real money,” Cramer laughed. “I now own a house — lock, stock, and barrel — because I bought this currency. I think I won!”

Twitter user “SZ BeatzCoin” likened Cramer selling to the infamous pizza purchase for 10,000 BTC.

Once a Bitcoin critic, Cramer told his CTO to put $500,000 into Bitcoin after speaking to Morgan Creek Digital co-founder Anthony Pompliano in September last year. He even considered putting 1% of his $150 million net worth into the digital asset.

At the time, BTC was hovering between $10,000 and $12,000 but is now sitting at $63,000, up 425% in only six months.

Famous NFL player Russell Okung, called to Pompliano to pull Cramer back onto the straight and narrow:

In December, Cramer said he bought more around the $17,000 price range, although he didn’t reveal how much.

The TV personality returned to Pompliano’s podcast on March 22 to thank-him for the encouragement, explaining that he has since pulled out his initial investment and is now playing “with the house’s money,” and that he’s “never going to touch it.” That obviously hasn’t lasted.

Although he didn’t reveal how much his Bitcoin portfolio was worth, according to the cryptocurrency’s performance, it could have been around $2.4 million.

During the brief discussion on “Squawk on the Street” Cramer also reaffirmed his opinions regarding Coinbase’s listing yesterday, stating that a $600 price target for Coinbase’s COIN stock is still right.

“This is all a scarcity, we don’t have any other way for mutual funds to be involved with crypto.”

By investing in Coinbase stock, he added, you not only get crypto but also “honest management.”


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Bitcoin Could See Another Bull Run Soon as Pompliano Hints at a Major Government BTC Development

Bitcoin’s price has been seen trading sideways in the past few days, within the range of $31,000 to $34,000. The world’s largest cryptocurrency has witnessed a consolidation after reaching an all time high price at almost $42,000. Although the cryptocurrency is currently down by 12% in the past week, Bitcoin is still up by 20% in the past month.

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Bitcoin’s recent price movement after reaching its all time high has created a lot of fear, uncertainty and doubt (FUD) in the market, especially to those who are new in the crypto space, and especially retailers. However, many indicators suggest that Bitcoin’s price would still likely rally in the near future. 

Cryptocurrency analytics firm Santiment noted that Bitcoin’s long-term trend still continues to climb. Santiment explained:

“The long-term trend of #Bitcoin’s address activity continues climbing. Both our 50-day and 200-day moving avg for addresses interacting on $BTC’s network continues to show a steady climb, which is one of our top leading indications that price will grow.”

Bitcoin price activity.jpeg

Santiment further showed data of Bitcoin’s network value to transaction ratio (NVT), which continues to be encouraging for BTC’s price. The analytics firm said:

“#Bitcoin has slid back to a low of $31.4k today, but the amount of unique $BTC moving between addresses continues to paint an encouraging picture. Our NVT Token Circulation model indicates that a bullish divergence remains clear for a 4th straight month at these price levels.”

On-chain analytics firm Glassnode also suggested that there could be significant further growth for Bitcoin. Glassnode explained:

“#Bitcoin NUPL was rejected the entrance into the “euphoria” zone earlier this month. A near miss of the blue zone does not rule out significant further growth for Bitcoin. After a similar event in 2017, $BTC increased around 900% before hitting the top.”

Bitcoin NUPL.jpeg

It is also worth noting that Bitcoin and other cryptocurrencies are due to see corrections around 30% after setting a temporary top. A cryptocurrency analyst is foreseeing that Bitcoin could reach around $60,000 after the 30-40% corrections

Anthony Pompliano hints at something big around Bitcoin 

Anthony Pompliano recently told the crypto Twitter community that something big is about to happen with Bitcoin. He stated that he has information surrounding a government leap towards Bitcoin. Pompliano announced:

“Just got an early look at something a government is going to launch tomorrow around Bitcoin. It is one of those small things that will feel like a milestone moment though. Leadership matters.”

With institutional adoption being one of the key factors of the increase in Bitcoin’s price in the past year, the announcement could be the start of Bitcoin’s next bull run. 

Image source: Shutterstock


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Here’s What Would Happen to Ripple if XRP Is Deemed a Security, According to CEO Brad Garlinghouse

Ripple CEO Brad Garlinghouse is sharing his insights into what the payments firm’s future will look like if XRP is declared a security by the United States government On an episode of the Pomp Podcast with Anthony Pompliano, Garlinghouse says that while a portion of Ripple’s business in the US would need to change if […]

The post Here’s What Would Happen to Ripple if XRP Is Deemed a Security, According to CEO Brad Garlinghouse appeared first on The Daily Hodl.


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Bitcoin (BTC) $ 26,476.09 0.83%
Ethereum (ETH) $ 1,624.91 0.19%
Litecoin (LTC) $ 63.94 1.88%
Bitcoin Cash (BCH) $ 234.57 1.92%