Why Bitcoin Owners Shouldn’t Be Concerned About the Latest Trouble in Crypto

[Inside Wall Street with Nomi Prins]( Welcome to Inside Wall Street with Nomi Prins! It’s the only daily newsletter featuring the insights of renowned author and former Wall Street insider, Nomi Prins. Every day, Nomi shines a light on a massive wealth transfer she calls The Great Distortion. That’s the true cause of the permanent disconnect she sees between the markets and the real economy. And she shares ways you can come out ahead, if you know where the money is flowing. You’ll find all Nomi’s Inside Wall Street issues [here](. If you have questions or comments, send Nomi a note anytime [here]( or at feedback@rogueeconomics.com. Why Bitcoin Owners Shouldn’t Be Concerned About the Latest Trouble in Crypto By Nomi Prins, Editor, Inside Wall Street with Nomi Prins “How could this have happened?” That’s what many cryptocurrency investors were wondering last week. The crypto markets were in shock, after crypto lender Voyager Digital filed for bankruptcy. The bankruptcy left thousands of crypto investors unable to withdraw their holdings. And those amounted to no small sum… Voyager recently said it had roughly $1.3 billion of crypto assets on its platform. It was a publicly traded company on the Toronto Stock Exchange. And it claimed to be insured by the FDIC (Federal Deposit Insurance Corporation). But as it turns out, that wasn’t really the case. More on that in a moment. First, here’s why I’m telling you this today… News that Voyager customers likely won't be getting all their money back has struck a new kind of fear into crypto investors. That’s because it’s not the only crypto lending platform to implode in recent months. The Voyager news broke on the heels of Celsius Network suspending customer withdrawals last month. Celsius is another crypto lender. On June 12, it locked up billions in user funds amid “extreme market conditions.” And just yesterday, it said it has filed for bankruptcy. As these stories continue to unfold, I want to shed more light on what’s happening in the crypto lending space right now. I’ll also show you what led to this… and what it could mean for your portfolio if you hold Bitcoin. Recommended Link [Trading Millionaire Reveals, “2008 Was My Most Profitable Year”]( [image]( If you’re fed up and stressed out with what’s happening in America, you’re not alone. Even the NY Times reports, “A Tidal Wave of Bankruptcies Is Coming” – that could create a historic market crisis like we saw in 2008. So, let me ask you a question… Do you think things will get MORE or LESS uncertain from here? Either way, Jeff Clark couldn’t care less... Because all this volatility presents one of the best opportunities he’s seen since 2008… when he used [ONE stock to become financially free.]( He simply IGNORES 99% of the entire stock market… And still delivers 100%, 373%, and [390% gains in just 8 days]( in bullish AND bearish markets. He’s used this secret to help 170,000 regular folks see [triple-digit gains over 48 times]( and double-digit gains over 81 different times. Now it’s your turn. [Click Here To Get The Name of The Stock, FREE.]( -- The Domino Effect I first wrote to you about the trouble in crypto markets on [June 23](. Volatility among so-called “stablecoins” was largely to blame. Voyager is the next domino to fall. At the center of the ongoing crisis is Three Arrows Capital (3AC). 3AC is a crypto hedge fund based in Singapore. As recently as March 2022, it managed $10 billion in assets. Unfortunately, 3AC played fast and loose with its money. It made sizable leveraged investments in Bitcoin and Ether. It also took massive positions in risky small-cap altcoins and borrowed millions against them. It’s one of the largest borrowers on major lending platforms. [Featured: Goldman Sachs Alum Sounds Alarm on “Next US Crisis”]( Late last month, 3AC defaulted on loans worth more than $670 million. Who loaned 3AC this money? Voyager. Voyager said 3AC failed to repay a loan of $350 million in the U.S. dollar-pegged stablecoin, USDC. As well as 15,250 Bitcoin, worth about $305 million at today’s prices. These failures set off a domino effect. That’s because many of the major crypto lenders and funds appeared to be exposed to each other. As panic spread, depositors clamored to get their money off these platforms. The crypto bank run was like the proverbial kick in the stomach for the lenders. Recommended Link [[DEMO] Penny or Dollar? (Not what you expect)]( Something odd is going on with our money. If you understand what’s going on, you could come out far ahead if you make the right moves. But if you don’t, you could be blindsided in the days ahead. According to Nomi Prins, PhD, this could be the most important story in the financial world in 2022… It has little to do with stocks, bonds, or cryptocurrencies… In fact, it all traces back to the humble copper penny. [image]( Knowing this secret could unlock the key to lining your pockets with cash in the months ahead. [Click here to see Nomi’s short Demonstration.]( -- A Matter of Trust Also, remember how I said earlier that Voyager claimed to be FDIC-insured? Well, it wasn’t. Its “banking partner,” Metropolitan Commercial Bank, is FDIC-insured. But Voyager never was. That’s despite saying things like: In the rare event your USD funds are compromised due to the company or our banking partner’s failure, you are guaranteed a full reimbursement (up to $250,000). Voyager lied. This gets to the heart of the problem the centralized crypto lending/borrowing space is currently facing… the problem of trust. In the current financial system, everything relies on us trusting a handful of powerful institutions. This includes the issuance of money and the setting of interest rates. And that’s the issue. [Featured: Caught on Camera - Florida man leaves crypto crowd speechless…]( Much like people, institutions can’t always be trusted. I had the “pleasure” of learning about this firsthand during my 15 years working on Wall Street. That’s one of the reasons why I left. When Voyager went under, I was reminded of [my days on Wall Street](. Back then, the Street was brimming with middlemen that over-allocated their capital. And firms that over-leveraged into subpar assets. When they started to crash, it caused a domino effect that shook the global financial system to its core. Today, my gut tells me there’s probably another ticking time bomb waiting to go off in the crypto space. When that happens, cryptocurrencies are going to take it on the chin once again. Recommended Link [Bitcoin Boomer Crashes Miami Crypto Conference]( [image]( True story. This Florida man walked into a packed crypto conference in sunny Miami… Executed his weird Bitcoin “trick”… And then this amazing thing happened… [Click here to watch!]( -- Bringing It All Together If you own Bitcoin, you might be wondering what these latest events mean for you… Unfortunately, though not directly connected to these stories, the premier cryptocurrency has suffered. It’s down nearly 60% this year… Some of you may be tempted to sell. But anyone who’s tried their hand at investing will tell you that it’s never a good idea to sell into panic. Even – or especially – if it seems like everyone else is doing it. Yes, the crypto market is wrapped in uncertainty right now. No two ways about it. But the current crisis isn’t one of Bitcoin’s making. This is a lending standards problem. I believe we will see Bitcoin rebound from these fear levels eventually. I’m not losing confidence in Bitcoin just because someone gambled with people’s savings using too much risk and leverage. As I saw during my years on Wall Street, many companies came back even stronger after the initial fallout from some of the mistakes that were made. As [I told you last week]( history is on Bitcoin’s side… It’s a good inflation hedge… And the White House recently acknowledged cryptocurrencies as a legitimate and important part of American society and the U.S. economy. And as [I showed you last month]( and in previous essays, the 21 million cap on the number of Bitcoins, plus the ever-decreasing pace these are issued, means each Bitcoin will become more and more valuable in time. I believe it’s important to keep up to date with events in this fast-moving sector. Hence my essay today about Voyager and 3AC. But it’s even more important to keep a sense of perspective and not panic when you read some of the more sensationalist headlines in the mainstream media. So if you currently hold Bitcoin, my advice to you right now would be to stay patient and ride out this current volatility. Until tomorrow, [signature] Nomi Prins Editor, Inside Wall Street with Nomi Prins --------------------------------------------------------------- Like what you’re reading? Send your thoughts to [feedback@rogueeconomics.com](mailto:feedback@rogueeconomics.com?subject=Inside Wall Street Feedback). --------------------------------------------------------------- MAILBAG Yesterday Nomi wrote about [the rising cost of food]( In response, readers share their ideas to reduce costs… Food and inflation – the best strategy for wallet and health is to stop eating garbage. Humans run on fat and protein. We do not require non-vegetable carbohydrates. Grains do not fully break down in the body, contain contaminants and antinutrients, and cause insulin resistance and heart disease. A body needs around a teaspoon of glucose, which can be produced by the liver. We do not need added sugars. A clean ketogenic diet of organic vegetables and organic, free-range, grass-fed meats is optimal. Let's put the hurt on the scum companies growing genetically modified cattle feed dusted in carcinogenic pesticides by not buying their crap. – Brendan V. I was just reading your write up regarding the cost of food in America today versus prior times. Nice write up. My thoughts on the matter are this: Maybe we should all be incorporating more of the “older simplicity” when it comes to taking care of our food products. Not to mention our children’s education on food growing and handling. Stop using so much fertilizer and go back to what worked in the past. We should be learning from the mistakes of our elders, instead of repeating what they have already figured out in the simplest ways. – Lisa K. Is suggesting people invest in a garden or join a community-supported agriculture (CSA) group not a viable option to consider? It would seem with so many working from home, tending the garden is an investment yielding multiple short- and long-term gains… – Robert S. Do you agree with Nomi’s confidence in Bitcoin’s long-term prospects? Have you considered growing your own food to combat rising food prices? Write us at [feedback@rogueeconomics.com](mailto:feedback@rogueeconomics.com?subject=RE: Why You Shouldn’t Be Concerned About the Latest Trouble in Crypto). IN CASE YOU MISSED IT… [Be Warned: Fill Up While You Can, America…]( Something is about to happen to your neighborhood gas station. Get in front of this federally mandated nationwide rollout… [Click here now.]( [image]( Get Instant Access Click to read these free reports and automatically sign up for daily research. [The Trader’s Guide to Technical Analysis]( [The Gold Investor’s Guide]( [The Ultimate Guide to Taking Back Your Privacy]( [Rogue Economincs]( Rogue Economics 55 NE 5th Avenue, Delray Beach, FL 33483 [www.rogueeconomics.com]( [Tweet]( [TWITTER]( To ensure our emails continue reaching your inbox, please [add our email address]( to your address book. 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