Corey Frayer
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csfrayer.bsky.social
Corey Frayer
@csfrayer.bsky.social
Michael Lewis called me "...a faceless minion in a blue suit..."

Director of Investor Protection - Consumer Federation of America. Former: Crypto Adviser to Gensler SEC. House Financial Services and Senate Banking Committees.
The real question is who's dumb enough to keep $1,119 of bribecoin in the wrong Binance account.
New: Binance holds 87% of the Trump family's stablecoin—$4.7 billion—a higher concentration than any other major stablecoin has at any single exchange.

Its U.S. affiliate holds $1,119.

me, for @forbes.com
Trump's Stablecoin USD1: Binance Holds 87% After Founder's Pardon
World Liberty Financial's founding document describes the company as "pioneering a new era of Decentralized Finance." Its flagship stablecoin is anything but.
www.forbes.com
February 9, 2026 at 8:10 PM
The crypto Super Bowl ad you can afford after you spent all your money buying Congress and BTC is at 40% of its ATH.

www.youtube.com/watch?v=ox__...
Everybody Coinbase
YouTube video by Coinbase
www.youtube.com
February 9, 2026 at 1:26 PM
Reposted by Corey Frayer
New op-ed from the Washington Post's AI Editorial Staff: Why couldn't the NFL have had a Bad Bunny AND Good Rabbit halftime show?

#Satire
February 9, 2026 at 2:52 AM
I always welcome supporting evidence such as this.
February 6, 2026 at 3:22 AM
Saylor on earnings call keeps saying that "we turn digital capital into digital debt." It has the patina of "we're basically a bank making loans."

But it's really the equivalent of a large bank saying "we are raising equity so we can issue more bonds."

www.youtube.com/watch?v=GOK-...
Strategy Q4 2025 Earnings Call
YouTube video by Strategy
www.youtube.com
February 5, 2026 at 11:06 PM
"The President will corrupt us back into profitability"
February 5, 2026 at 10:42 PM
MSTR - In the long run, BTC will outperform every other asset.

Keynes - In the long run, we are all dead.
February 5, 2026 at 10:38 PM
"Gateway debt"
February 5, 2026 at 10:22 PM
This earnings call could be summed up as "hodl"
February 5, 2026 at 10:17 PM
"we are deleveraging" is not the most strategic thing to say when the asset you rely on is tanking in value.
February 5, 2026 at 10:11 PM
Feels like the old "You would have 100 million dollars if you'd invested a year ago, assuming you had invested 200 million dollars"
February 5, 2026 at 9:47 PM
Doesn't this just mean that taking away the material wealth won't make them any *less* happy?
February 5, 2026 at 9:45 PM
Some perspective for this Bitcoin crash. In the 2008 Financial Crisis, retirement accounts lost about 32% of their value.

If you bought Bitcoin at the end of October last year, you've lost about 43%. In a legitimate, reality-based market, that would be a crisis.

www.urban.org/research/pub...
What the 2008 Stock Market Crash Means for Retirement Security
The one-third drop in the S&P 500 index between year-end 2007 and 2008 raises concerns about retirement security since Americans now hold more equities t…
www.urban.org
February 5, 2026 at 9:40 PM
You're making an incredibly good point here which is that no legitimate financial market should be this volatile - losing a third of its entire market cap in the last year - without an underlying explanation.

Either there's a huge secret platform failure or this isn't a real financial market.
February 5, 2026 at 9:21 PM
Watching crypto slowly realize that our SEC's fair application of the law was better for them than a corrupt President doing them favors is life-affirming.
chat, is this good?
February 5, 2026 at 9:08 PM
Found Michael Saylor's alt account.
February 5, 2026 at 9:02 PM
Bitcoin falling so fast today it's going to need ablative shielding.
February 5, 2026 at 8:28 PM
Bitcoin under $65k today from a high ~$125k. Private credit is falling apart and institutionals are trying to fight their way out of private equity exposures.

Tell me again why this administration is encouraging plan managers to pawn these assets off on retirement savers?

tinyurl.com/3js6eyru
Democratizing Access to Alternative Assets for 401(K) Investors
By the authority vested in me as President by the Constitution and the laws of the United States of America, it is hereby ordered:  Section 1.
tinyurl.com
February 5, 2026 at 8:22 PM
I think that might be more generally symptomatic of the crypto community's ability to spin literally anything into a bullish indicator.

But yea pipe dreams also a factor - I'd add everyone who's twisting themselves in knot trying to tie crypto's future to AI.
February 5, 2026 at 7:04 PM
Reposted by Corey Frayer
I wrote about the crypto crash and why this is the worst crypto winter in the industry's history.

Sub to the Odd Lots newsletter here www.bloomberg.com/account/news...
February 5, 2026 at 5:43 PM
It's somewhat implied by "not the biggest but is the worst" but:

The explicit claim here is that this downturn has revealed a bunch of fragilities in crypto markets that existed even before the FTX crash. And I strongly agree.
February 5, 2026 at 6:08 PM
Senator Kim said his support for the stablecoin bill in committee was contingent on getting Trump anti-corruption language before he supported it on the floor.

He did not get that anti-corruption language and still voted for it anyway. Watch closely what he does on this upcoming Senate crypto bill.
KIM: When Binance founder Zhao pleaded guilty to violating money laundering laws & was sent to prison, Binance injected billions into Trump's business & Zhao was pardoned. Is that a conflict?

BESSENT: I'm unfamiliar with any of that

KIM: Is it a conflict?

BESSENT: Again, I'm not going to respond
February 5, 2026 at 4:57 PM
Short list of celebrities who probably won't be in Artificial Intelligence Super Bowl ads:

Larry David
Matt Damon
Lebron James

www.cnbc.com/2026/02/05/s...
Super Bowl AI ad spat heats up as Altman lashes out at Anthropic campaign
OpenAI recently announced plans to begin testing ads with some ChatGPT users.
www.cnbc.com
February 5, 2026 at 4:49 PM
Oops - actually it *was* that kind of Cava bag. I didn't know the "lifestyle bag brand" existed before today and stupidly assumed - because that would have made way more sense.
February 5, 2026 at 4:36 PM
Causing me to just now learn it wasn't a paper bag from a fast food salad restaurant.
February 5, 2026 at 4:29 PM