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‘Wolf of Wall Street’ Jordan Belfort Expects Bitcoin and Ethereum to Be ‘Substantially Higher’ Despite FTX Collapse

‘Wolf of Wall Street’ Jordan Belfort Expects Bitcoin and Ethereum to Be ‘Substantially Higher’ Despite FTX Collapse

Jordan Belfort, aka the Wolf of Wall Street, expects bitcoin and ethereum to be “a lot higher” than they are now. Noting that the collapsed crypto exchange FTX is a scam, he stressed that its implosion “doesn’t mean that you can disregard bitcoin completely and say it’s worthless or going to zero.”

The Wolf of Wall Street Calls FTX a Scam

Jordan Belfort, a former stockbroker whose memoir was adapted into a film called “The Wolf of Wall Street,” shared some recommendations about bitcoin and ethereum in a video posted on his Youtube channel Monday. The film was directed by Martin Scorsese and starred Leonardo DiCaprio.

Belfort founded Stratton Oakmont which functioned as a boiler room that marketed penny stocks and defrauded investors with pump-and-dump stock sales. He became a motivational speaker after pleading guilty to fraud in 1999 and went to prison for 22 months.

Regarding FTX, the crypto exchange that imploded and filed for bankruptcy on Nov. 11, the Wolf of Wall Street described: “FTX was a scam and there is no way to protect against a scam like that.” He added:

But just because FTX itself was a scam, that doesn’t mean that you can disregard bitcoin completely and say it’s worthless or going to zero. The same thing goes for ethereum.

Belfort Recommends Holding Bitcoin and Ethereum

Belfort believes that the price of bitcoin and ether will increase substantially despite recent crypto market sell-offs and the FTX fallout. However, he is skeptical about other coins, noting that besides the two largest cryptocurrencies, he “literally would not be touching crypto right now with a 10-foot pole.”

For those who already own other crypto tokens, he recommends “going step by step looking at each coin” to decide whether they should be sold and when a good time to sell might be. “This has to be based on what you bought and what you think it’s worth right now,” he said.

Investors should examine each token’s fundamentals and ask themselves why they bought the coin in the first place, Belfort advised. “Was there something behind your purchase, were you expecting good news to come out, do you think the company was actually doing something and we’re going to have some breakthrough technology?” he asked.

However, if investors bought crypto because of “the greater fool theory, meaning that you thought … someone even more foolish than you would come along and buy the coin from you at a higher price,” Belfort suggested: “Anything outside of bitcoin and ethereum, I would take a petty close look at it and consider maybe selling it.” Referencing the dot-com bubble where 99% of the deals crashed and never came back, he explained:

Do some analysis, do some research … Is there any problem that this coin or token is solving or we’re just buying into all the hype and the hoping that it would continue to go because if that’s the case honestly you know chances are most of these things are not going to ever come back.

Belfort also revealed that he is planning to buy more bitcoin and ether. While cautioning that the two cryptocurrencies could fall further in the short term, he opined:

I think it’s a pretty good bet that right now, down here, if you buy bitcoin or ethereum, chances are [they] will be substantially higher in five to 10 years — actually a lot higher, I believe.

“If you are buying bitcoin or ethereum, it should represent a very small portion of your overall investment portfolio,” Belfort advised, noting that he would limit crypto investments to “under 10%” of his overall holdings. “That’s the money that you can essentially speculate with. You can afford to lose it.”

What do you think about the recommendations regarding bitcoin and ethereum by Jordan Belfort? Let us know in the comments section below.

FTX-Hosted NFTs Point to Broken Metadata, Issue Illuminates Flaws With NFTs Tied to Centralized Clouds

On Wednesday, non-fungible token (NFT) supporters discovered that NFT metadata hosted on the platform FTX US points to broken metadata, and the links now point to FTX’s restructuring website. Specific collections that were minted on the Solana blockchain via the FTX US NFT platform do not show the NFT’s imagery and marketplace listings on the Coachella NFT marketplace have disappeared.

FTX US-Hosted NFTs Redirect Metadata to FTX’s Restructuring Page

This week owners of FTX US-hosted NFTs are discovering they can no longer see their NFT’s imagery or animations, as NFTs that derived from FTX US point to broken metadata. A number of crypto and NFT supporters discovered the issue on Wednesday.

“Oh look FTX hosted all the NFTs minted on their platform using a Web2 API and now all those NFTs have broken metadata, and the links go to a restructuring website,” the Twitter account jac0xb.sol wrote on Wednesday. Jac0xb.sol added:

There is a lesson to be learned here yet collections are still hosting metadata on [Amazon Web Services].

In addition to Jac0xb.sol, the Twitter profile @web3isgreat, an account that highlights Web3’s special moments, tweeted about the FTX US-hosted NFT issues as well. The Web3 is going just great Twitter account noted how the website shows zero listings.

Further, the account also detailed that the FTX US-tethered NFTs from the Coachella NFT collection do show up as listings on secondary markets, but they don’t show imagery and the metadata is broken. The company behind the music and arts festival, Coachella, partnered with FTX US in Feb. 2022.

If a user visits an NFT marketplace, such as, and searches for NFTs stemming from the Coachella collection, the listings page will show micro-images of the compilation’s artwork. However, when a user toggles to see the details of the actual listing, the NFT’s imagery is not shown.

Similarly, FTX US-based NFTs listed on Opensea show the images on the main sale page and even some of the details on individually listed NFTs still show the images, but there are many that do not or they show errors. The NFTs that are listed on Opensea show a floor value of around 100 ethereum (ETH) and Coachella NFTs listed on are listed for prices between 1-100 SOL per unit.

What do you think about the broken metadata issue tethered to FTX US-based NFTs? Let us know what you think about this subject in the comments section below.

FTX’s Odd Relationship With Vertical Farming Firms — A Look at Exchange Boss Ryan Salame’s and Bahamian PM Philip Davis’ Trip to 80 Acres

After discovering that ten holding firms associated with FTX Digital and Alameda Research invested roughly $5.4 billion into nearly 500 firms and projects, people have been curious about a few specific investments. One specific investment made by FTX Ventures Ltd. was for $25 million into the Ohio-based firm 80 Acres, a company that specializes in vertical farming. It seems that 80 Acres Farms was partnered with a Bahamian hydroponic producer called Eeden Farms, and Ryan Salame, the co-chief executive officer of FTX Digital Markets, toured 80 Acres farm in Ohio with the Bahamian prime minister Philip Davis.

A Look at the Ties Between FTX Ventures, FTX Co-Chief Executive Officer Ryan Salame, and 2 Specific Vertical Farm Companies

The Financial Times (FT) recently published documents that show FTX Digital’s and Alameda Research’s portfolio of investments, which adds up to a whopping $5.4 billion. Among the hundreds of investments, FTX and Alameda invested in companies that were not related to the crypto and the blockchain industry.

One of those investments was 80 Acres Farms, a vertical farming company that provides produce to grocery stores like The Fresh Market, Kroger, and Whole Foods. The two co-founders of 80 Acres were recently featured in a BBC “Follow the Food” segment.

Now people might wonder why a cryptocurrency firm, and more specifically FTX Ventures Ltd., invested in a company that grows produce using hydroponics in vertically stacked layers. It’s not entirely clear why, but it is public knowledge that Ryan Salame, the co-chief executive officer of FTX Digital Markets, visited the company’s farm in January 2022.

As the Government remains committed to the advancement of the Green Economy in The Bahamas, Prime Minister Davis and Honorable Clay Sweeting recently toured the flagship 70K Farm owned by 80 Acres Farms.

Read the Prime Minister’s remarks here: 1/2

— Office of The Prime Minister The Bahamas (@opmthebahamas) January 25, 2022

According to The Tribune, in January 2022, Salame and the Bahamian prime minister Philip Davis toured 80 Acres Farms with the Bahamian minister of agriculture Clay Sweeting, and the owners of a Bahamian hydroponic firm called Eeden Farms. Tribune business editor Neil Hartnell explained 80 Acres farm in Ohio was to serve as a model for Eeden Farms on Nassau’s Gladstone Road.

80 Acres is an Eeden Farm partner and this year, the Bahamian hydroponic producer rebranded its farm to Eeden Acres on Jan. 24, 2022. Hartnell detailed that government officials from Ohio were also present on the 80 Acres tour, alongside executives from Sysco Bahamas. As far as the Bahamas was concerned, Hartnell explained that Eeden and 80 Acres would “invest $60m in developing a 71,000 square foot facility able to grow ‘300 times more food’ than a traditional farm.”

Lincoln Deal, Eeden Farms’ co-founder, told The Tribune that the land for the farm “is in hand.” A few months prior to the Cincinnati 80 Acres farm tour, FTX relocated its headquarters from Hong Kong to The Bahamas in September 2021. The documents FT published this week show that 80 Acres received $25 million from FTX Ventures in an equity investment.

Furthermore, Salame reportedly gave $22 million to Republicans for the 2022 midterm election cycle, according to data. Salame, a Sandisfield Massachusetts native, was known for being a big spender as he owned four restaurants and roughly six properties in Lenox, according to The Berkshire Eagle. It’s not entirely known what relationship FTX Ventures and Salame had with 80 Acres, but it seems Salame was quite involved with Eeden Acres’ and 80 Acres’ ventures.

Eeden Farms’ website is currently down and the company’s social media pages have not posted in a long time. On Instagram, Eeden’s last post was in June 2021, on Facebook Eeden’s last posts were published that same month, and Eeden’s last post on Twitter was in February 2022.

On the company’s Facebook page, Eeden’s page name is called Eeden Acres, and it shows 3D mock-up photos of an Eeden Acres building with a roof fully covered in solar panels. Eeden’s co-founder Lincoln Deal recently talked about “the disruptive changes in the agricultural industry” at the University of The Bahamas, the same day FTX’s financial troubles ensued.

During his interview with Mario Nawfal’s Twitter Spaces crew, FTX co-founder Sam Bankman-Fried admitted that withdrawals to Bahamian residents took place before FTX fully collapsed, and possibly on two occasions. In a two-part interview with Tiffany Fong (here and here), SBF explained FTX execs codified the Bahamian withdrawals because he did not want to reside on an island with angry residents.

What do you think about the connections between FTX Ventures, Ryan Salame, Eeden Farms, and 80 Acres Farms? Why do you think the co-chief of a crypto exchange would visit a vertical farm plant in Ohio with The Bahamas’ PM? Let us know what you think about this subject in the comments section below.

Alameda-Funded Ren Tells Users to ‘Bridge Back to Native Chains’ as It Sunsets 1.0 Platform

According to the team behind the open protocol Ren, developers are winding down the Ren 1.0 network following the FTX and Alameda Research collapse. Last year, under previous Ren leadership, Alameda acquired Ren and was funding development every quarter. On Dec. 7, 2022, Ren developers warned Ren 1.0 and 2.0 compatibility “cannot be guaranteed” and Ren users should bridge back to their native chains.

Alameda-Backed Ren Warns of Losses Tied to Ren 1.0 Platform, Suggests Users Bridge Back to Native Chains as Soon as Possible

The current team behind the Ren protocol, a platform that allows users to tokenize crypto assets like bitcoin (BTC) and bitcoin cash (BCH), has announced it is sunsetting Ren 1.0. The reason for the move is because Ren was acquired by Alameda in Feb. 2021 and Alameda won’t be funding the project anymore. The Ren team explained in a blog post that the team only had enough funds to fund development “until the end of Q4.” On Wednesday, the official Ren Twitter account warned users about possible losses related to Ren 1.0.

“Important notice — As announced previously, the Ren 1.0 network is shutting down due to the events surrounding Alameda,” the Ren team said. “Compatibility between Ren 1.0 and 2.0 cannot be guaranteed, [and] holders of Ren assets should bridge back to native chains ASAP, or risk losing them,” the team added.

Ren devs further left a link to where people can check if they are holding Ren assets on EVM chains and Solana. The Ren team also shared a URL that directs to the bridge so users can bridge back to native chains. The blog post, published on Nov. 18, 2022, explained that the Ren team will “need to secure additional funding.” The Ren team detailed that they think that it is best to sever all ties with Alameda.

“Given that Ren 1.0 was run under Alameda leadership which is now in bankruptcy proceedings, the Ren development team believes it is best to sunset the Ren 1.0 network and launch Ren 2.0 earlier than previously intended, to ensure the Ren ecosystem’s safety and integrity, at the tradeoff of a shorter disruption of service,” the team’s blog post notes.

What do you think about Ren sunsetting Ren 1.0 after the FTX and Alameda collapse? Let us know what you think about this subject in the comments section below.

Biggest Movers: LTC, ATOM Extend Declines, Hitting 10-Day Lows 

Litecoin fell for a third consecutive session on Thursday, as the token continued to move away from recent highs. Cryptocurrencies have been mostly lower in recent days, as traders continue to fear a global recession. Cosmos also remained in the red during today’s session.

Litecoin (LTC)

Litecoin (LTC) dropped to a ten-day low on Thursday, with the token falling for a third straight session.

Following a high of $79.20 on Wednesday, LTC/USD moved to a low of $74.82 earlier in the day’s session.

As a result of this, the token fell to its lowest point since November 29, when prices hit a bottom of $73.39.

Looking at the chart, it appears that litecoin bears are hoping to push prices towards a floor at $73.00.

This seems a possibility, especially with the 14-day relative strength index (RSI) fast approaching a floor of its own.

The index is currently tracking at 57.10, and seems to be moving towards a support point of 53.00.

Cosmos (ATOM)

Another notable token on Thursday has been cosmos (ATOM), which fell to a ten-day low earlier in the day.

ATOM/USD fell to a bottom of $9.52 on Thursday, before bulls reentered the market and bought the recent dip.

Today’s bottom saw cosmos trade at its lowest level since November 28, which was the last time the token hit its floor at $9.45.

As of writing, ATOM has mostly rebounded, and is currently trading at the $9.71 level.

In addition to this, the RSI has bounced from a floor of its own at 39.50, and is currently tracking at 41.40.

Should momentum continue in an upward direction, ATOM bulls will likely target a move above the $10.00 mark.

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Do you expect cosmos to move above $10.00 this week? Let us know your thoughts in the comments.

Announcing the Kraken $100M+ volume fee tier trial

Starting December 15, 2022 0:00 UTC through February 15, 2022 11:59 UTC*, we will offer 0% maker and 0.08% taker fees on select spot pairs to qualifying clients as part of our $100M+ volume fee tier trial. Who is eligible? All clients who trade over…

The post Announcing the Kraken $100M+ volume fee tier trial appeared first on Kraken Blog.

Drones, Fertility, and Defi — A Look at Alameda Research’s Massive $5.4 Billion Portfolio of Investments

Over the last few weeks, there’s been a lot of information revealed surrounding the recent FTX and Alameda Research disaster. On Dec. 6, the Financial Times (FT) published documentation that shows Alameda’s investment portfolio, which alleges the company spent more than $5 billion on hundreds of investments. Some of the funds went to odd investments like a fertility company called Ivy Natal and a drone manufacturer called Brinc Drones.

Alameda Invested in Close to 500 Firms and Projects

During the last two years, FTX and Alameda Research spent billions on deals, sponsorships, and investments. At the end of January 2022, FTX looked colossal after it raised $400 million from investors like Softbank Vision Fund 2, Tiger Global, Temasek, Paradigm, and the Ontario Teachers’ Pension Plan Board.

After the Series C raise, FTX was valued at $32 billion and the former FTX CEO Sam Bankman-Fried (SBF) said FTX aimed to expand the firm’s “global reach.” After the revelations concerning Alameda’s balance sheet during the first week of November, FTX and SBF’s quantitative trading firm imploded.

Since then, FTX’s parent firm West Realm Shires Services, Alameda Research, and approximately 130 additional affiliated companies filed for Chapter 11 bankruptcy protection. This week on Dec. 6, 2022, FT released documentation tied to Alameda Research’s investments, which were close to 500 investments that added up to roughly $5.4 billion.

In addition to FT, The Block’s VP of research, Larry Cermak, exported the entire list of Alameda-based investments into an excel sheet. Cermak further noted that Alameda’s largest investments include Genesis Digital Assets, Anthropic, Digital Assets DA AG, K5, and IEX.

If the data is accurate, the documentation shows that Alameda invested a lot of money into blockchain projects and foundations, tokens, and non-fungible token (NFT) projects as well. This includes Hole Tokens, Polygon, Near, 1inch, Lido, Xterio, Aptos, and Yuga Labs. Polygon for instance received $50,000,000 from Maclaurin Investments Ltd., otherwise known as Alameda Ventures.

Near gathered $50 million from FTX Ventures Ltd., and Maclaurin gave Near $30,000,000. FTX Ventures gave Yuga Labs roughly $50 million and Aptos scored $74.9 million from Clifton Bay Investments, also known as Alameda Research Ventures. Alameda invested in well known funds like the Multicoin Venture Fund II and the Skybridge Capital II fund.

Money went to Chinese news companies such as Blockbeats, and O’daily News. The company invested in Paxos, Messari, Starkware, Circle, Fanatics, Magic Eden, and Sky Mavis (Axie Infinity). An Ohio-based produce and vertical farming firm called 80 Acres got $25 million and $11.5 million was funneled to a firm called Geniome.

A whopping $500 million went to the artificial intelligence (AI) research firm Anthropic and $1.5 million went to a fertility venture called Ivy Natal. FT described Alameda’s portfolio as a “disparate bundle of nearly 500 illiquid investments split across 10 holding companies.” The FT author further notes that “FT makes no claim as to the data’s accuracy or completeness” as far as the documentation of Alameda’s investments are concerned.

What do you think about all the alleged investments Alameda made? Let us know what you think about this subject in the comments section below.

Forgotten Runes Wizard Cult, CyberKongz, The Catalina Whale Mixer and more collections added to Kraken NFT

We’re thrilled to announce that we have added ten new NFT collections to Kraken NFT for our current beta testers to explore, collect and trade. After revealing the first 70 collections earlier this year and ten new collections last week, we carefully selected these new…

The post Forgotten Runes Wizard Cult, CyberKongz, The Catalina Whale Mixer and more collections added to Kraken NFT appeared first on Kraken Blog.

Bitcoin, Ethereum Technical Analysis: BTC Nears 10-Day Low, as Bears Regain Market Sentiment

Bitcoin continued to slip on Thursday, with the coin remaining close to its lowest level since the end of November. Momentum in cryptocurrency markets has shifted in recent days, with sentiment currently bearish. Ethereum was also lower, with the token dropping towards $1,200.


Bitcoin (BTC) remained near a one-week low on Thursday, as cryptocurrencies continued to trade in the red.

BTC/USD slipped to a bottom of $16,750.56 earlier in the day, less than 24 hours after trading at a high of $17,061.48.

The move saw the world’s largest cryptocurrency move closer to a recent support point of $16,700.

After failing to break out of a ceiling at the 50.00 level earlier in the week, the 14-day relative strength index (RSI) is now tracking at 45.50.

Should price strength continue to plummet, the next visible point of support seems to be at the 43.00 mark.

Bears in the market will be hoping that this floor is not only hit, but broken, which could trigger a move below $16,000.


Like bitcoin, ethereum (ETH) also edged lower in today’s session, with prices falling for a second straight day.

Following a high of $1,252.30 on Wednesday, ETH/USD dived to a low of $1,224.45 earlier in the day.

Today’s drop in price pushed ethereum below a recent support point at the $1,230 level, with prices hitting a nine-day low as a result.

Looking at the chart, the 10-day (red) moving average remains high, which some see as a signal that a bullish reversal could still be on the cards.

Despite this, momentum seems bearish, with the RSI tracking at 46.72, which is its lowest point since November 29.

The index now appears to be heading towards a support point at the 45.00 level.

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Will ethereum end the week below or above $1,200? Leave your thoughts in the comments below.

Bank of Spain to Launch Experimental Wholesale CBDC Digital Token Program

The Bank of Spain is seeking the collaboration of organizations interested in participating in an experimental test on a wholesale central bank digital currency (CBDC). The institution clarified this new program has no relation with the current investigation on a possible digital euro, and has the objective of examining the real possibilities and advantages of using a CBDC in the field.

Bank of Spain to Experiment With Its Own CBDC

The Bank of Spain has recently revealed it will launch its own experimental program with a wholesale CBDC. A document issued on Dec. 5 announces this digital token program, and explains that the institution is seeking the collaboration of companies in the industry, that will be able to formulate their proposals on this matter.

The institution clarified that this program has no relation to ongoing efforts by the European Union on the research of the digital euro. The objective of this new program is to pinpoint the feasibility of using such a currency and test the advantages that it might bring to the settlement process.

These proposals will be received by the bank until January 31, when the bank will start evaluating each one of the proposals for possible selection. The selected proposals will have to be executed in a period of no more than nine months, starting on April 3, with their completion estimated on Dec. 29, 2023. However, the bank will be able to issue an extension depending on several factors, according to the selection process document.

Wholesale Currency

While most of the experiments and trials being run today in the CBDC field involve the figure of a universal purpose currency, the Bank of Spain is also interested in a wholesale currency, directed to aid in the settlement of financial transactions between banking institutions.

The program defined in the public document that describes the experiments gives three key tasks that must be completed: the simulation of transactions using the wholesale CBDC, experimentation with the combination of the CBDC and the liquidation of financial assets, and the analysis of the possible advantages and drawbacks derived from the implementation of a wholesale CBDC when compared to traditional methods.

The institution did not offer more details about the future of a hypothetical wholesale currency in Spain, or about the intention of implementing a similar currency for interbank transactions.

What do you think about the wholesale CBDC trials that the Bank of Spain will conduct next year? Tell us in the comments section below.