It’s been an amazing year. The newsletter has experienced over 500% growth. Starting at around 7k in January and now over 40k subscribers! Our main feature will recap on our Top 2 Newsletters and Podcasts of the year.
💎 Top Crypto Headlines
🎊 Highlights of 2021: Top 3 Newsletters & Podcasts
👋 Binance Expands To The Middle East
📲 Crypto Mixers: Tornado Cash
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Our Market Meditations are longer format educational segments. Each letter features a Market Meditation which will deep dive and analyse a relevant crypto event, theme or tool.
🎆 Market Meditations: Highlights of 2021
Andrew joined our podcast back in March. Yes, that's right. Before NFTs exploded.
Many people who listened to the podcast have since thanked us. They were able to understand and get into NFTs long before the crowd and mind-blowing price pumps came through.
Of all our podcasts this year, perhaps this was one that could have yielded meditators 5 to 6 figure returns.
It’s not too late to listen and get up to speed with NFTs, link here.
@twobitidiot is the former director of growth at Digital Currency Group and the founder / CEO of Messari. He is also author of the brilliant 2022 Messari thesis.
In this episode, Ryan spoke us through the key crypto trends of 2022.
From institutions to web 3.0 and venture capital, a breadth of topics were discussed that are essential for anyone wishing to be successful next year.
Prepare yourself for 2022 by checking out the podcast here.
Our Passive Income Guide was a huge hit. We cover how to optimise your returns through:
Centralised Passive Income
Decentralized Passive Income
To start your journey, click here.
In this newsletter we released our free e-book.
Click here to download it and to get rich trading crypto.
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🌴 Binance Expands to Middle East
Which middle eastern country has been the first to give Binance approval in principle to establish itself as a crypto-asset service provider?
United Arab Emirates
🌪 In the Mixer
On Sunday PeckShield reported another suspected rugpull when the price of MetaSwap MGAS suddenly plunged 47% in price.
Despite the smart contract having been ‘audited’, funds were transferred out of the protocol and all social accounts were deleted. So what happened to the money?
About 1100 BNB was transferred from the protocol to Tornado Cash – this is the most famous example of a ‘crypto mixer’
Mixers like Tornado Cash and Cashfusion have together anonymised more than $8 billion of transactions since inception
A mixer breaks the on-chain transaction record by using a smart contract in the middle that makes it much more difficult to trace
Users generate a random private key (called a ‘Note’) with each transaction, which is then hashed and stored with the funds in the contract
When the Note is used to retrieve the funds, it allows the user to specify a different withdrawal address
As the protocol is fully decentralised with no ability to ‘look inside’ the contract, the only tracing method left is speculation based on the incoming and outgoing transactions using meta data such as value, timestamps and other circumstantial evidence
Crypto mixers like this and Cash Fusion have many supporters mainly advocating for total privacy. But it is obviously also attractive to those wishing to conceal illegal or immoral activity.
For some statistics on Tornado Cash check out this informative dashboard by Dune Analytics.
That’s right Bahrain is the first to give Binance approval in principle to set up as a crypto asset provider.
Binance still requires a license from the Central Bank of Bahrain before they can progress any further.
According to a recent press release, they expect to fill in the full application in due course.
This comes after CoinMENA was given the green light from Bahrain's bank all the way back in January. This may have been helped by the fact that CoinMENA fully complies with Islamic law.
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Not financial or tax advice. The content in this newsletter is for informational purposes only. Nothing in this email is intended to serve as financial advice. We are not financial advisors. Every investment and trading move involves risk. Do your own research when making a decision. See our important security disclaimers here.
Disclosure. Some of the links we’ve included are affiliate, they give you rewards and discounts and earn us a commission. Additionally, the Market Meditator writers hold crypto assets. See our investment disclosures here.