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Hello, this is Coinscript.

In today’s episode:

• Crypto Market in the RED

• Saylor hinting at buying another batch of Bitcoin

• Pastor Indicted over a Crypto Scam

• User emails from OpenSea’s data breach made public

Why is the Whole Crypto Market RED?

This is not the kind of Monday we like to wake up to.

The Crypto Market has been bleeding for the past 24hrs.

Bitcoin’s price plummeted over $3K in just under 12 hours.

XRP and ETH are also both down approximately 5%.

This brought the Total Crypto Market Cap down to $3.12 Trillion, which is the lowest it has been this year.

Why is the Crypto Market Down Today?

• The U.S. economy continues showing surprising strength in services and employment data. This likely means fewer Fed rate cuts in 2025 than previously expected. With a stronger dollar and rising Treasury yields, crypto assets are facing headwinds.

• The U.S. government is preparing to sell 69,370 BTC (worth ~$6.5B) seized from the Silk Road marketplace. This massive supply overhang through the U.S. Marshals Service auction is creating uncertainty and potential selling pressure.

• In the past 24 hours, the market saw $390M in total liquidations, with $54M specifically in Bitcoin positions. These forced liquidations tend to accelerate price declines as leveraged positions get closed.

Saylor is Thinking About the Next Green Dot 🟢

Looks like Saylor is still not finished with their Bitcoin buying spree.

MicroStrategy has been acquiring Bitcoin each Monday since the 11th of November 2024.

Yesterday, Saylor hinted at buying another batch of Bitcoins, which could happen today.

P.S. The green dots on the post above represent each Bitcoin purchase MicroStrategy made since the start.

🙏 Pastor Indicted for Fraud Over a Crypto Scheme

A Washington state pastor found out the hard way that the FBI doesn't accept visions from God as financial advice.

Francier Obando Pinillo managed to scam over 1,500 investors for over $5.9 million through his scheme called "Solano Fi" (not to be confused with Solana), which he claimed came to him in a dream.

The 51-year-old pastor didn't just stop at his congregation.

He became a full-time crypto influencer, recruiting victims through a Facebook page and a Telegram group called "Multimillionarios SolanoFi."

His pitch? A "risk-free" 35% monthly return on Bitcoin and Ethereum trading.

When investors tried to withdraw their funds, they got every excuse in the book:

"Wait for better market conditions," or our personal favorite, "Bring in a new investor to buy out your account."

The Justice Department has now blessed him with 26 counts of fraud.

If convicted, he's looking at up to 20 years in federal prison.

The scheme ran from November 2021 to October 2023, proving that even in a bear market, scammers gonna scam.

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🏴‍☠️ User Emails From OpenSea's Data Breach Have Been Made Public

Remember that OpenSea email breach from 2022? The one they said wasn't a big deal? Well, plot twist, it's now a very big deal.

But, first things first, what is OpenSea?

OpenSea is a blockchain-based marketplace used for buying, selling, and trading NFTs.

In 2022 one of the employees decided to make some extra cash on the side and leaked a list of OpenSea’s marketplace users.

However, since the attack, the actual list wasn’t made public until now.

Now over 7 MILLION user emails are floating around the dark web.

Why is this a problem?

The biggest threats are targeted phishing attacks, presenting themselves as OpenSea, which could be very dangerous, especially for Crypto investors.

The breach happened when NFTs were at peak hype, meaning there are probably quite a few wealthy targets in that email list.

If you had an account with OpenSea prior the 2023, there is a high probability that your email is on that list, so watch out for any fishy emails!

💡 Today's Key Takeaways

1. Security First: If you've ever used OpenSea, time to beef up your security game. Enable 2FA everywhere, use unique passwords, and maybe don't click that email promising free NFTs.

2. DYOR (Seriously): If someone promises guaranteed returns - even if they claim divine inspiration - run faster than Bitcoin drops after an Elon tweet.

3. Watch the Whales: When Saylor hints at buying, it's usually worth paying attention.

P.S. If anyone tells you they got investment advice in a dream, remind them that nightmares are also dreams!

Meme of the Day 🤣

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.