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Experts sure: Ethereum (ETH) will keep crashing after The Merge



Experts sure: Ethereum (ETH) will keep crashing after The Merge

In what many have perceived as unexpected news, Ethereum took a massive dive despite the successful Merge. ETH price dipped below $1,500 on Thursday, just as the news of the Merge broke out, and continues to fall.

The Merge is a massive overhaul of the world’s second-largest blockchain. It was in the works for years and after several delays, the developers were finally ready to deploy the new solution, going online at 6:43 a.m. UTC. It is a significant upgrade over the earlier version, as it allowed the Ethereum network to transition from an older proof-of-work system to a far more efficient proof of stake. Among other improvements, the network will now consume 99.99% less electricity for its daily operations.

Although some people are baffled by the dip after such an important technological upgrade, many experts say that Ethereum will keep on crashing after The Merge. For many investors, that was a cue to start looking for alternatives to ETH and one of the most attractive ones at the moment is Tamadoge, a new Play-to-Earn (P2E) platform that has been making a lot of waves recently. As the presale supply of TAMA dwindles, anyone thinking of adding it to their portfolio needs to hurry before it completely sells out.

What You Need to Know About Tamadoge

TAMA is Tamadoge’s native coin and the heart of its financial system. Many believed that it is just another memecoin when it was launched, but it turned out that TAMA is much more than that. Unlike major memecoins like Dogecoin and Shiba Inu, TAMA actually has a purpose and a utility outside of Internet memes.

TAMA is used for all transactions within the Tamadoge ecosystem. Players can use it to mint, feed, and train their digital pets, called Tamadoges. They can battle them against other players’ pets and each win and placement on the leaderboard will earn them Dogepoint, which can be exchanged for TAMA. Tamadoges come in a form of NFTs, just like their gear and various accessories, all of which can be bought and sold on the in-game marketplace. All this will create a strong demand for TAMA and provide it with a utility other memecoins lack.


Why Choose TAMA Over ETH?

The Tamadoge project is currently in the presale phase, which is going amazingly well. In just six weeks, the Tamadoge team sold more than 900 million TAMA tokens, raising $17.3 million for further development. With just 60 million tokens left, there is no doubt that the presale target of $19 million will be easily reached. It is one of the most successful crypto presales in history.

On the other hand, the Ethereum funding rate took a steep dive, ending up below zero for the first time since ETH was launched. Just before The Merge, the funding rate across various platforms dropped to just -0.6%, as investors massively shorted Ethereum. For many, it was a clear sign that ETH was in trouble and that it was time to bail on it.

>>>Buy Tamadoge Now<<<

Why Ethereum Keeps Crashing?

Immediately after The Merge, the Ethereum price remained flat at around $1,600, hovering there for hours. Then it started declining, falling sharply below $1,500, where it still is today. Many experts claim that this is a classic case of traders “buying the rumor and selling the news”.

Glassnode, a blockchain intelligence firm, reported encountering backwardation with both ETH options and futures. Backwardation is the occurrence of the future price of an asset that is lower than its underlying spot price and usually appears when a big short is in the works.

The rumors that many traders are trying to capitalize on The Merge were confirmed when it became known that the demand for ETH futures for October is very low. It was a clear sign that nobody expects its price to rise in the next two months and people started dumping it, creating downward pressure on the market.

Fortunately, none of these issues plagues Tamadoge and the project is moving ahead at full steam, hitting every stop on its ambitious roadmap ahead of schedule.


As established cryptos like Bitcoin and now Ethereum continue to struggle through September, many experts agree that the time has come to look for alternatives. One of the best such alternatives is Tamadoge, an emerging P2E platform that is breaking all records during its presale.

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Elon Musk Says Sam Bankman-Fried Probably Donated Over $1B To Support Democratic Elections



Elon Musk Says Sam Bankman-Fried Probably Donated Over $1B To Support Democratic Elections
  • Elon Musk hints on his official Twitter account that SBF may have donated more than $1B to the Democratic elections.
  • SBF the ex-CEO of FTX confirmed that he has made undisclosed donations to the republican party, and donated the same amount to both parties.
  • Republican Senator Ted Cruz also called FTX “a Bernie Maddof style fraud that cost investors Billions”.

Sam Bankman-Fried, the ex-CEO of now-bankrupt exchange FTX and FTX.US, is said to have donated “dark money” to the democratic party. Elon Musk took to Twitter to say that he believes the undisclosed number of democratic party donations probably reached over $1B, whereas only $40M were disclosed.

That’s just the publicly disclosed number. His actual support of Dem elections is probably over $1B. The money went somewhere, so where did it go?

— Elon Musk (@elonmusk) December 3, 2022

In a recent interview with crypto journalist Tiffany Fung, SBF stated that he donated to both parties equally.”I donated to both parties. I donated about the same amount to both parties,” Bankman-Fried tells Tiffany Fung on a phone interview.

“All my Republican donations were dark,” he said, referring to political donations that are not publicly disclosed. “The reason was not for regulatory reasons; it’s because reporters freak the fuck out if you donate to Republicans. They’re all super liberal, and I didn’t want to have that fight.”

As SBF admits that some of the donations were not publicly disclosed, it seems likely that more non-publicly disclosed donations to the democratic party.

Undisclosed donations have been made possible by the supreme court’s decision in the Citizen United case, which allows donors to donate anonymously. Since this decision, more than $1bn have poured into federal elections since 2010.

Elon Musk is very vocal on Twitter regarding the SBF case and the FTX bankruptcy scandal. On 13th of November Musk tweeted to hint that SBF is a major donor on the democratic party therefore he believes there will be no investigation by the SEC towards the exchange.

Republican Senator Ted Cruz also called FTX “a Bernie Maddof style fraud that cost investors Billions”.

On December 1st Senate held a hearing to discuss and urge lawmakers to act quicky in installing a regulatory framework for digital assets.The hearing was hosted by the Senate Agriculture Comittee and did not include the main person at the center of this scandal, CEO Sam-Bankman Fried. The person invited to testify was Rostin Banham, the Chairman of Commodity Futures Trading Commission (CFTC), agency that regulates the derivate markets. Benham called on immediate oversight of most crypto markets and “comprehensive market regulation.”

Benham’s testimony is controversial as he had a very close working relationship with Bankman-Fried over the last year. The Bill advocated in the hearing was the same one that Bankman-Fried encouraged himself earlier this year which has been questionable.

Denis Keheller, the president of advocacy group Better Markets argued over the influence SBG would have had on the CFTC. It is unclear how much access influence Sam-Bankman Fried may have bought at the agency.

“When something like this happens, typically you have an overreaction of elected officials of the need to crack down on the industry,” he says. “Instead, this hearing is to push a bill that was endorsed and pushed by FTX.”

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FTX’s Sam Bankman-Fried Knew More About Alameda Research Finances Than Let On: Forbes Report



FTX’s Sam Bankman-Fried Knew More About Alameda Research Finances Than Let On: Forbes Report
  • A report by Forbes reveals that Sam Bankman-Fried knew about Alameda Research’s financial dealings.
  • SBF previously denied being “deeply aware” of Alameda’s finances. 
  • The former FTX chief regularly shared documents related to Alameda with Forbes over the past 2 years. 
  • The report indicates that SBF was well aware of Alameda’s business activities. 

An exclusive report published by Forbes has shed light on information that is in contradiction with recent claims made by Sam Bankman-Fried, the man behind the bankrupt crypto exchange FTX. 

Sam Bankman-Fried was aware of Alameda’s finances

In an interview at the DealBook Summit, SBF claimed that he was surprised by how big Alameda’s position was, referring to the risky trades made by his quantitative trading firm. The disgraced CEO tried to avoid accountability for Alameda’s actions by claiming that he was not involved in its day-to-day operations. “Alameda’s finances I was not deeply aware of. I was only surface-level aware of Alameda’s finances” he claimed. 

However, the report by Forbes provides an insight into the discussions they had with SBF in order to calculate his net worth for their annual World’s Billionaires list. During these discussions, Bankman-Fried shared several details that indicated that he was in fact well aware of Alameda Research’s finances. 

In order to prove his net worth, SBF detailed some of Alameda’s major holdings and several transactions involving Solana and Serum tokens as well as the notorious FTT. Some of these details were shared as recently as August 2022. The level of information found in the documents shared by Sam Bankman-Fried suggested that he knew more about Alameda than he revealed during his controversial interview. The former FTX CEO included details about his quant trading firm’s funds along with its token holdings, which at the time included 53 million SOL, 176 million FTT, and more than 3 billion SRM. According to this, the value of his share of Alameda’s funds under management was $8.6 billion. 

FTX's Sam Bankman-Fried Knew More About Alameda Research Finances Than Let On: Forbes Report 11

While it is still unclear as to how involved Sam Bankman-Fried was in the day-to-day operations at Alameda Research, the detailed description of the trading firm’s finances shared by him suggests that he knew more than he let on. 

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Mike Novogratz’s Galaxy Digital might buy crypto custodian GK8 from Celsius



Mike Novogratz’s Galaxy Digital might buy crypto custodian GK8 from Celsius


  • Galaxy Digital won a bid to buy one of Celsius’s assets as part of bankruptcy proceedings for the crypto lender.
  • Mike Novogratz’s company will buy GK8, a custodial business that Celsius acquired over a year ago in November 2021.
  • The custodian plans to launch crypto trading and lending for institutional investors.

Galaxy Digital submitted a successful bid for GK8, a crypto custodial service listed as an asset by Celsius during the lender’s bankruptcy proceedings. Both entity did not disclose the acquisition sum at press time. 

GK8 was acquired by Celsius in November 2021 when the bull run was near its peak. Months after, the lender was crippled by slumped crypto prices and Terra exposure. Celsius paused withdrawals shortly after LUNA and UST imploded in May, before declaring bankruptcy in July,

CEO Mike Novogratz said in a statement that adding GK8 to Galaxy Digital’s businesses offers a key ingredient for growth. Novogratz also addressed concerns regarding possible conflict of interest from the deal, ensuring that “clients will have the option to store their digital assets at or separate from Galaxy”.

Adding GK8 to our prime offering at this pivotal moment for our industry also highlights our continued willingness to take advantage of strategic opportunities to grow Galaxy in a sustainable manner.

Galaxy will also expand its workforce by some 40 employees as part of the deal. The firm hopes to onboard blockchain developers and cryptographers to name a few.

Galaxy Digital scoops Celsius asset after $76.8 million FTX exposure 

The digital asset firm reported losses in Q3 earnings after weathering contagion from Terra’s $40 billion crash. Galaxy’s earning report also revealed exposure to the bankrupt crypto exchange FTX. 

EWN reported that Novogratz’s firm tried to withdraw $47.5 million of the total sum from FTX before Sam Bankman-Fried’s exchange froze withdrawals.  The company

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