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204: $1.5bil Bybit Hack, Crypto Sell-off, Pig-Butchering Scams, Murdoch “Succession” Drama & Future of Local Media
Feb 26, 2025
The podcast dives into the shocking $1.5 billion hack of the Bybit exchange and its repercussions on the crypto market. It uncovers the chilling rise of 'pig butchering' scams that psychologically manipulate victims for financial gain. Discussions also touch on the chaotic state of Bitcoin trading and turbulent market predictions. Additionally, the hosts analyze the real-life drama of the Murdoch family, echoing themes from a popular TV show, and explore the evolving landscape of local media amidst trust issues.
01:06:20
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Quick takeaways
- The $1.5 billion Bybit hack was conducted through social engineering, highlighting the vulnerabilities of individuals in the crypto market.
- The podcast discusses Rupert Murdoch's family dynamics, drawing parallels to 'Succession' and reflecting on their impact on his media empire.
Deep dives
Crypto Market Dynamics
The podcast discusses the recent volatility in the crypto market, highlighting a significant drop not only in cryptocurrencies but also across various risk assets, including stocks. This downturn is attributed to macroeconomic factors, such as impending tariffs and broader market uncertainty. A particular focus is placed on MicroStrategy's position within the market, prompting discussions on whether their strategy is sustainable or might lead to financial troubles. In addition, a recent massive crypto hack, reportedly the largest in history with a loss of approximately $1.5 billion in Ethereum from the exchange Bytebit, raises concerns about the security of crypto assets.
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Discover
highlights
Listen to the best highlights from the podcasts you love and dive into the full episode