Today in Bitcoin History / @daily_btc_lore:
R to @daily_btc_lore: 4/9 - Bidding opened June 27, 2014 at 8 AM ET. Forty-five registered bidders submitted 63 bids across 10 blocks. Some blocks held roughly 2,000 BTC, others more. The auction ran for 12 hours. Total value at the day's Bitcoin price: approximately $19 million.
R to @daily_btc_lore: 4/9 - Bidding opened June 27, 2014 at 8 AM ET. Forty-five registered bidders submitted 63 bids across 10 blocks. Some blocks held roughly 2,000 BTC, others more. The auction ran for 12 hours. Total value at the day's Bitcoin price: approximately $19 million.
Today in Bitcoin History / @daily_btc_lore:
R to @daily_btc_lore: 5/9 - When bidding closed, the Marshals confirmed something no one had anticipated: a single bidder had won all 10 blocks. No splitting, no partial wins. One entity had outbid everyone on every lot simultaneously, and declined to identify themselves.
R to @daily_btc_lore: 5/9 - When bidding closed, the Marshals confirmed something no one had anticipated: a single bidder had won all 10 blocks. No splitting, no partial wins. One entity had outbid everyone on every lot simultaneously, and declined to identify themselves.
Today in Bitcoin History / @daily_btc_lore:
R to @daily_btc_lore: 6/9 - The Marshals wouldn't name the winner. For five days, Bitcoin Twitter speculated. On July 2, @TimDraper confirmed he had claimed every block. Draper was already the first VC to back a Bitcoin startup, having led a $500K check into CoinLab back in 2012.
R to @daily_btc_lore: 6/9 - The Marshals wouldn't name the winner. For five days, Bitcoin Twitter speculated. On July 2, @TimDraper confirmed he had claimed every block. Draper was already the first VC to back a Bitcoin startup, having led a $500K check into CoinLab back in 2012.
Today in Bitcoin History / @daily_btc_lore:
R to @daily_btc_lore: 7/9 - Draper didn't buy to hold. He partnered with Vaurum, a Bitcoin exchange, to deploy the coins as liquidity in developing economies where weak currencies made Bitcoin inaccessible. His words: "Bitcoin frees people from trying to operate with weak currencies."
R to @daily_btc_lore: 7/9 - Draper didn't buy to hold. He partnered with Vaurum, a Bitcoin exchange, to deploy the coins as liquidity in developing economies where weak currencies made Bitcoin inaccessible. His words: "Bitcoin frees people from trying to operate with weak currencies."
Today in Bitcoin History / @daily_btc_lore:
R to @daily_btc_lore: 8/9 - The auction did something no conference could: it made the US government a Bitcoin seller. Two more Marshals auctions followed through 2015, liquidating over 100,000 additional BTC. Each sale was a government stamp that Bitcoin was real, sellable property.
R to @daily_btc_lore: 8/9 - The auction did something no conference could: it made the US government a Bitcoin seller. Two more Marshals auctions followed through 2015, liquidating over 100,000 additional BTC. Each sale was a government stamp that Bitcoin was real, sellable property.
Today in Bitcoin History / @daily_btc_lore:
June 27, 2022 (4 years ago)
Voyager's $670 Million Default Notice
Voyager said 3AC owed them 15,250 Bitcoin and $350M USDC, roughly $670 million. When the repayment deadline arrived, nothing came. What followed pulled down lenders across the space.
Brief thread... 🧵👇
June 27, 2022 (4 years ago)
Voyager's $670 Million Default Notice
Voyager said 3AC owed them 15,250 Bitcoin and $350M USDC, roughly $670 million. When the repayment deadline arrived, nothing came. What followed pulled down lenders across the space.
Brief thread... 🧵👇
Today in Bitcoin History / @daily_btc_lore:
R to @daily_btc_lore: 2/7 - Su Zhu and Kyle Davies were prep school classmates, and both Credit Suisse FX traders, who started 3AC in 2012. By early 2022, they managed $10 billion on the Bitcoin Supercycle thesis: macro had shifted permanently and every dip was a buying opportunity, forever.
R to @daily_btc_lore: 2/7 - Su Zhu and Kyle Davies were prep school classmates, and both Credit Suisse FX traders, who started 3AC in 2012. By early 2022, they managed $10 billion on the Bitcoin Supercycle thesis: macro had shifted permanently and every dip was a buying opportunity, forever.
Today in Bitcoin History / @daily_btc_lore:
R to @daily_btc_lore: 3/7 - The mechanism was leverage. 3AC borrowed from @BlockFi, Genesis, Blockchain<dot>com, and Voyager, using each loan to buy more Bitcoin as collateral for the next. A compounding loop that worked until one major position moved the wrong way.
R to @daily_btc_lore: 3/7 - The mechanism was leverage. 3AC borrowed from @BlockFi, Genesis, Blockchain<dot>com, and Voyager, using each loan to buy more Bitcoin as collateral for the next. A compounding loop that worked until one major position moved the wrong way.
Today in Bitcoin History / @daily_btc_lore:
R to @daily_btc_lore: 4/7 - That position was LUNA. 3AC had put up to $600M into Terra's Luna token. In May 2022, Luna collapsed from $80 to near zero in 72 hours. Margin calls arrived in mid-June. 3AC went silent. On June 27, a British Virgin Islands court ordered the fund into liquidation.
R to @daily_btc_lore: 4/7 - That position was LUNA. 3AC had put up to $600M into Terra's Luna token. In May 2022, Luna collapsed from $80 to near zero in 72 hours. Margin calls arrived in mid-June. 3AC went silent. On June 27, a British Virgin Islands court ordered the fund into liquidation.
Today in Bitcoin History / @daily_btc_lore:
R to @daily_btc_lore: 5/7 - That same day, Voyager drew $75M from a $200M credit line provided by Alameda Research, FTX's trading arm. @CoinDesk documented both moves in real time. Six months later, Alameda would collapse, taking FTX with it.
https://www.coindesk.com/business/2022/06/27/voyager-digital-issues-default-notice-to-3ac-draws-down-75m-of-alameda-revolver
R to @daily_btc_lore: 5/7 - That same day, Voyager drew $75M from a $200M credit line provided by Alameda Research, FTX's trading arm. @CoinDesk documented both moves in real time. Six months later, Alameda would collapse, taking FTX with it.
https://www.coindesk.com/business/2022/06/27/voyager-digital-issues-default-notice-to-3ac-draws-down-75m-of-alameda-revolver
Today in Bitcoin History / @daily_btc_lore:
R to @daily_btc_lore: 6/7 - The founders had vanished. They had bought a $50M yacht and two Singapore mansions before going dark. Liquidators couldn't locate them. In September 2023, Zhu was caught at Changi Airport on a one-way ticket, sentenced to four months. Davies remains a fugitive.
R to @daily_btc_lore: 6/7 - The founders had vanished. They had bought a $50M yacht and two Singapore mansions before going dark. Liquidators couldn't locate them. In September 2023, Zhu was caught at Changi Airport on a one-way ticket, sentenced to four months. Davies remains a fugitive.
Today in Bitcoin History / @daily_btc_lore:
R to @daily_btc_lore: 7/7 - Voyager filed Chapter 11 on July 5. Customers recovered 50-70 cents on the dollar. BlockFi & @CelsiusNetwork fell in the same wave. What held through all of it was Bitcoin itself. The protocol kept producing blocks. Every trusted custodian failed but the base layer didn't.
R to @daily_btc_lore: 7/7 - Voyager filed Chapter 11 on July 5. Customers recovered 50-70 cents on the dollar. BlockFi & @CelsiusNetwork fell in the same wave. What held through all of it was Bitcoin itself. The protocol kept producing blocks. Every trusted custodian failed but the base layer didn't.
Not a Tesla App:
NHTSA Ends Investigation Into Tesla Model 3/Y Steering Failures
NHTSA Ends Investigation Into Tesla Model 3/Y Steering Failures
Not a Tesla App
NHTSA Ends Investigation Into Tesla Model 3/Y Steering Failures - Not a Tesla App
The National Highway Traffic Safety Administration (NHTSA) has officially wrapped up a long-running safety probe into 376,241 Tesla vehicles