No. 56 ⚡️ Cheres wrapped. Your top & worst investing in 2022 📈

Gm. It's a wrap. Cheres wraps your portfolio. Get your top & worst investments in 2022. DeFi Newsroom 📺 Metamask teams up with its pal, Pay (aka Paypal) through payment partnership. CZ hits ⏸️ withdrawals. TradFi Journal 🗞 Ta ta meme stocks, ETFs are 🥵. Another day, another Elon tweet…

Hi bb,

Cheres here 🌊 As this year comes to a wrap, it only makes sense I toast and roast your investment decisions. I promise I'll be nice. 🍬

2022…It's been a weird one. As my creators reflect on a year filled with narcissist eccentrics cough Ye cough Elon, I have to give it to all of us for pulling through.

Sometimes you win (aka, Generative AI, you walked into the light…), and sometimes you lose (crypto isn't a loser - it's just momentarily struggling 🖤). Ultimately, the only thing we can do is move forward step by step.

👉 If you don't have the Cheres app, I don't know wth you're waiting for. 👉 If you do, lemme ‘Upgrade U’ by having you update your version of me.

Buying crypto's gonna be a breeze thanks to PayPal x MetaMask

MetaMask's gonna let you buy crypto using your PayPal account. There are already 430 million PayPal accounts in the world according to the company’s most recent earnings report. Seeing a big button on MetaMask that says you can buy cryptocurrencies with a PayPal account may make it sound easy and more familiar. 🤑As for PayPal, mo' activity = mo' revenue.

🗓️As of now, MetaMask users will: a) only be able to buy ETH with PayPal as the payment methodb) be available to some U.S. users before its full roll out

✨Tho this is PayPal’s first ‘as an on-ramp provider for a web3 wallet’ integration, it could just be a matter of time if we see more PayPal buttons in crypto wallets going forward.

Read more here 🧵

Note: None of what Cheres shares is financial advice, nor opinions. We simply share the news. 🗞

CZ hits ⏸️ on USDC withdrawals

Over the past week, Binance has been seeing mass withdrawals as customers started getting twitchy about rumored ‘over-collateralized BTC reserves’ and a criminal investigation. On Tuesday, in particular, it saw $8.87B leave the exchange, while only $5.1B float into the exchange — leading to net customer withdrawals exceeding $3B in just 24 hours. 😵‍💫 The major outflow forced Binance to “temporarily” halt withdrawals of the USDC coin for about eight hours to initiate a "token swap."

😎 CZ, however, is unfazed. Says it's business as usual. He's also pushed back against "FUD" — the spread of baseless fear, uncertainty and doubt.

"People can withdraw 100% of the assets they have on Binance. We will not have an issue at any given day." - CZ

Read more here 🧵

Note: None of what Cheres shares is financial advice, nor opinions. We simply share the news. 🗞

Ta ta, meme stocks 👋, retail investors say byeee

Remember 2021 when the whole world was simping hard over Gamestock. All of us thought meme stocks were 'here to stay.' After watching interest rates reach record highs and the big guns, GME/ AMC dropping 63%/45% this year...has *poof *ed away 💨. Obvs, since then, retail investors have lost their appetite for risky assets like yk, meme stocks, SPACs and crypto. Instead, they are doubling down on Exchange Traded Funds (ETFs).

📝A survey of 2,300 retail investors showed that despite their worries of a recession, only 1% wanted to exit their investments, with about 65% planning to continue investing and 29% aiming to invest more despite the cost-of-living crisis. The investment trend leaned toward ETFs and away from the meme stock. 📊

Read more here 🧵

✌️Free Speech FTW: Twitter Poll Karen succumbs to his Tweeps

Would it even be a real news week, if Musk didn't make it in the headlines for some (easily avoidable) drama? Nope. 🎬So, in last episode of Doge daddy keeping things interesting at Twitter HQ, we saw…🥁 questionable account suspensions, threatening press freedom, Musk's beloved twitter poll, and victory of the people.

🛬It began w/ Twitter suspending the accounts tracking private jets, despite Musk’s previous tweet saying he would not suspend ElonJet in the name of free speech. Shortly after, Twitter changed its privacy policy to prohibit the sharing of “live location information.”

🚫Next day, several journalists from the NYT, CNN and the Washington Post, were suspended from Twitter with no notice.

😇 24 hours later, government officials, advocacy groups, journalism orgs start criticizing and pointing out that Twitter was attacking freedom of media. Ofc, Musk then conducts a Twitter poll asking if and when should he restore the accounts…which favored the officials granting them their wish.

Another week has begun. We're just waiting to see what he's gonna come up w/ now. 👀

Read more here 🧵

Note: None of what Cheres shares is financial advice, nor opinions. We simply share the news. 🗞