Big Gains for BNB

December 30, 2021 Big Gains for BNB Good morning traders, Welcome back to The Daily Setup. We have a lighter version for you today. Here’s what’s on the docket: - Medallion Financial Corp gets charged by the SEC - Binance Coin had a great 2021 - Alibaba may be selling its stake in Weibo Look for our 2021 Q4 recap in your inbox tomorrow, and will be back in the groove come next week. Let’s end the year with family, friends… and maybe with a good drink in hand too! Happy New Year! Jeff Taxicab Confessions BIGGEST MOVER Shares of Medallion Financial Corp (MFIN) tanked during Wednesday’s trading session following an announcement that the [SEC was charging the company]( and its President/COO Andrew Murstein with "seeking to illegally boost their stock price." The stock was halted after opening down 59% at $3.50, but recouped some of those losses to close [down 21%](. $MFIN is m- f’in still [up 37% YTD]( mostly thanks to New York’s City’s [$65M taxi medallion owner relief program]( in response to the COVID-19 pandemic. - [Medallion’s core business]( was "making loans backed by taxicab medallions to taxicab owners and operators." - According to the SEC, following a string of profitable years leading up to 2013, the company started to slide as taxicab medallions lost value due to the growing popularity of ride-share companies like Uber and Lyft. - In order to prop up its stock, Murstein “allegedly” (we wouldn’t want to go ahead and assume guilt because that would be wrong) forced investment banks to inflate the company’s value and also paid public relations firm Ichabod’s Cranium (I sh*t you not) to produce hundreds of posts and articles on sites like the Huffington Post, TheStreet.com, and Seeking Alpha, touting the company. Medallion released a statement denying the allegations that they violated any securities law, which I believe 100%. *cue eye-roll* I will be keeping MFIN on my watchlist to see if they can get back to Tuesday’s closing price of $8.45 before deciding if I want to dip my toes in on the short side. Big Gains for BNB Token Talk ^ via me, @ellisnd02 There’s no denying that 2021 was the year of crypto, as funds poured more money into tokens [than ever before](. Given the news, you’d think that Bitcoin had the best year... and while it’s still the top dog, there’s some serious competition coming for the crown. While BTC was resting on its laurels, Binance Coin (BNB) significantly outperformed the OG coin and Ethereum when it came to gains. According to [Arcane Research](, BTC and ETH increased by 65% and 408% respectively, while BNB experienced a gain of *checks notes* 1300%. You read that correctly. - According to CryptoCompare, total assets under management for [Bitcoin-related investments products fell 20%]( to $39B in December. The BTC portion of total digital-asset investment vehicles dropped from 70.6% to 67.8%. This is not an insignificant percentage, but BTC is definitely still comfortable as the most mainstream token. - One of BNB’s most attractive features is its role as the native currency of Binance Smartchain (BSC), a Blockchain platform that supports smart contracts for use in decentralized finance. This made it a direct competitor against the Ethereum blockchain and [fueled big gains.]( - BNB is also headed towards greater global ubiquity, considering that Binance is already the biggest crypto exchange by volume. In addition to that, Binance just recently gained regulatory approval for its affiliates in [Bahrain and Canada.]( Bitcoin and Ethereum definitely aren’t going away anytime soon, but there’s a lot that can still happen to shake up the scene. Exhibit A: Doge. However, unlike Dogecoin, BNB is a serious candidate for longevity, thanks in large part to its integration with BSC. It’s definitely not time to completely remove BTC and ETH from your portfolio, but it may be worthwhile to track coins that bring something new to the table (through careful vetting of course). Alibaba may be saying Alibyebye to Weibo Rumor has it [Flying Dog GIF - Find & Share on GIPHY]( [Jack Ma on his way to a farm upstate.]( Jack Ma might be going for a nice long walk, as rumors circulate that Alibaba (BABA) is “being encouraged” to reexamine their [30% stake in Chinese social media giant Weibo](. This follows the Chinese government’s increasing efforts to consolidate media control and rein in its biggest corporations in recent months. According to anonymous insiders close to the dealings, the online retail giant has been pressured asked kindly to transfer their shares to state-owned conglomerate Shanghai Media Group. Seems like the Chinese Communist Party is getting jealous of Jack’s shiny assets. Come to think of it, [has anyone seen Jack lately](? - Chinese regulators recently have been scrutinizing the stake that big tech companies have gained across the media sphere. Alibaba currently owns shares in newspapers, TV production studios, social media, and advertising. The government had already put the screws on Alibaba in [March of 2021]( for this exact reason. - Shares in BABA fell 2.36%, their lowest since December 3rd, while shares in Weibo (WB) and Nasdaq Golden Dragon China Index [fell 3.45% and 3.24% respectively](. This sucks for investors who have their own stake in these companies but that’s probably not even on the list of the CCP’s worries. Considering the news from March of this year it was a pretty safe assumption that some kind of state pressure was bound to be placed on Alibaba regarding its media holdings. Of course, it’s no secret that the Chinese government loves to exert control on companies both foreign and domestic, but this continues their serious crackdown on their own industries (Exhibit A: Evergrande). It’s clear that the dragon is out for blood and is not afraid to take a bite out of its biggest success stories, so I’m starting to wonder if it might be time to reconsider investing in Chinese companies unless they have something really exciting to offer. Link Roundup 📿 Other News Other News Link Roundup - U.S. Goods Trade Gap Widens Like Your Post-Holiday Waistline ([link]() - Apple Hates Meta More Than You Do, shells out $180k bonuses ([link]() - Victoria’s Secret’s Holiday Season Was Not a Bust – Announce Share Buyback plan ([link]() - Didi Just Needs An Introduction – Plans to list on Hong Kong Exchange ([link]() 2021 in a nutshell, [via @Cymbalda]( [Image] RagingBull, LLC 62 Calef Hwy. #233, Lee, NH 03861 [Unsubscribe from all RagingBull emails]( Questions or concerns about our products? Call or text us on your mobile: 1.800.123.4567 © Copyright 2020, [RagingBull]( - [Refund Policy]( - [Privacy Policy]( - [Terms & Conditions]( DISCLAIMER: To more fully understand any Ragingbull.com, LLC ("RagingBull") subscription, website, application or other service ("Services"), please review our full disclaimer located at [(. FOR EDUCATIONAL AND INFORMATION PURPOSES ONLY; NOT INVESTMENT ADVICE. 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