Todays’ edition is brought to you by Nexo - the top place to buy digital assets, borrow against them or swap between 500+ market pairs.
GM. This is the Milk Road. We take your daily crypto news, season it with Grade-A jokes & memes, and then serve it to you in a hot & fresh email.
It’s Friday…
(*Stone Cold Steve Austin voice*) Can I get a hell yeah?!
Here’s what we got today:
- A billionaire’s portfolio 🤑
- 1 cool tool: SocketScan 🔧
- 1 cool account: The Airdrop Hunter 🪂
- BONUS - The gang tries crypto lending/borrowing 👀
Prices as of 9:30 AM ET. Click here for our Fear & Greed Index
A BILLIONAIRE’S PORTFOLIO 🤑
Ricardo (cooler version of “Richard”) Salinas is one of the richest people on Earth.
- Net worth = ~$13.5B.
- #129 on the Billionaires List - aka the only list in the world where it doesn’t matter where you place. (Everyone’s a winner)
Ricardo recently had an interview with Coin Stories Podcast where he talked about what his liquid portfolio looked like nowadays:
1/ Bitcoin
2/ Microstrategy (a software company that also owns a sh*tton of Bitcoin)
3/ Bitcoin miners (owns stock for 4-5 mining companies)
4/ Oil companies
5/ Gold miners
60% of his liquid portfolio is either in the OG cryptocurrency or in another asset that has exposure to it.
The takeaway: Even billionaires are **badabababa** lovin’ their Bitcoin.
THE COSTCO OF CRYPTO
Everyone loves Costco. That’s because everyone loves quality and quantity at a good price.
Well, that’s what Nexo is doing for crypto users. But sorry in advance, there’s no $1.50 hotdogs.
Instead, Nexo’s lets you:
- Buy crypto instantly, with card, Apple Pay or Google Pay
- Trade over 500 pairs, with no transaction fees
- Get paid interest on your crypto daily*
- Borrow cash or stables against your holdings
- Spend your crypto without selling it and get up to 2% cashback with the Nexo Card**
- Experience DeFi - a non-custodial wallet for DEXs, NFT marketplaces and DeFi protocols
And with over 6M+ customers worldwide, it’s no surprise so many are trusting Nexo. We even took the time to write our own review on their offerings.
* Nexo Earn Product is not available for citizens or residents of certain jurisdictions, including where restrictions may apply, such as the United States, and Canada.
**Currently, only citizens of the European Economic Area (EEA) can order a Nexo Card.
1 COOL TOOL: SOCKETSCAN 🔧
Check it out. We recently came across this cool tool called Socketscan.
It aggregates data from native bridges and popular third-party liquidity bridges - like Hop, Stargate, etc. - all in one place.
You just search for a wallet address and **poof** you can see all the bridge transactions that a specific user has made. (no black magic or sorcery needed)
Why’s it cool? It can be super useful for tracking whale wallets to see what blockchains they’re bridging to and trying out.
Everyone wants the “ alpha” but no one knows where to look… Socketscan can be a good start to finding potential early winners in DeFi.
1 COOL ACCOUNT: THE AIRDROP HUNTER 🪂
Yesterday we talked about one of the best things to do in a bear market….
Airdrop hunting - aka when you search for crypto projects that might do a token airdrop in the future.
It’s often viewed as a “low-risk/high-reward” strategy.
The problem: it’s really hard to find future airdrops.
So we’ve been on a mission trying to find a way to make it easier. And we just came across this cool Twitter account… @leshka_eth.
They do a lot of the hard work for you by analyzing past airdrops (how much $ was given out, which wallets made the most $$, etc.) to try to get an early jump on future airdrops.
Here’s an example… 👇
It’s a pretty good account to follow if you’re looking for some hidden gems.
THE GANG TRIES CRYPTO LENDING AND BORROWING 👀
We just took another trip up Figure-It-Out Mountain™️.
It’s the hardest climb known to man. (Mt. Everest, who?)
This time, we went up to gain knowledge in lending and borrowing crypto assets.
Here’s a quick glimpse at what we did:
- We deposited some USDC on Aave - a popular DeFi lending protocol.
- We opted to use our deposit as collateral. This means we can borrow other assets by locking up this position as a “safety deposit”.
- We’re currently earning 8.12% APY from the move. Make money while we sleep: ✅
- We then borrowed some wrapped Bitcoin (WBTC) against our USDC deposit using Aave. WBTC = a wrapped version of a Bitcoin that can be used on Ethereum’s blockchain.
After a few hours and three glasses of milk, we were able to successfully lend and borrow crypto using a DeFi protocol.
*high-fives all around*
If you’re interested in diving deeper into why we made the moves we did and how we did it - check out our latest Guide to DeFi here.
BITE-SIZED COOKIES 🍪
Instantly earn a $1-10 bonus when you convert funds on Evolve Markets. Get paid when you swap $50+ between BTC, ETH, SOL, LTC and USD. That’s a win-win.*
The Commodity Futures Trading Commission (CFTC) charged 3 decentralized finance platforms for illegally offering derivatives trading. The platforms charged in the 3-for-1 special include Opyn, ZeroEx, and Deridex.
The FBI says Lazarus (a North Korean hacking group) was behind the recent $41M hack of Stake.com. At this point, Kim Jung Un and his crew are better than George Clooney and Ocean’s Eleven at stealing money.
JP Morgan is exploring blockchain-based deposit tokens. The goal? Speed up cross-border payments and settlements.
Riot Platform (a leading Bitcoin miner) earned $31.7M last month by NOT mining Bitcoin. Getting paid to not do your job? Pretty cool. *sends screenshot to boss*
The former co-CEO, Ryan Salame, of FTX Digital Markets has pleaded guilty to three federal criminal charges. Salame has been ordered to forfeit ~$1.5B, but he’ll be off the hook if he turns in $6M, his Porsche car, and other properties he owns. (P.S. - I’m no expert, but the math ain’t math-ing here)
*This is sponsored content
MILKY MEMES 🤣
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ROADER REVIEW OF THE DAY
VITALIK PIC OF THE DAY
Enjoy your casual Friday Roaders!
— Milk Road Images (@MilkRoadImages)12:41 PM • Sep 8, 2023
DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research.
