Blockchain Daily Terminal

Last week I said that for TRX to break out, we may need an FTX collapse-like catalyst and one final leg down in crypto. This week Binance was hacked for a record $6.3B, almost like clockwork. $234M in stolen USDT was swapped into TRX to avoid being frozen. Some of that TRX has since been moved through swaps and bridges into other assets, including ETH. That could put some short-term pressure on TRX, but based on where we are in the wave structure, I think this could be the last leg down. I honestly don’t think this is another FTX. Roughly 44% of the stolen assets have already been frozen or seized, which gives them a much clearer path to recovery. Binance also says it has replenished 90% of the stolen assets. Bybit survived its $1.5B hack, and I think Binance can survive this too, although reopening withdrawals and meeting demand will be the real test. The hack is real, but I think fear, panic and doomsday speculation are making the selling worse. That’s exactly the kind of sentiment I’d expect around a final washout before a much larger move up. The wave structure is why I’m watching for it; the news may just be the catalyst. I’d watch for a big leg up in the 48 hours after Binance reopens withdrawals and continues operating as usual.

I switched my bot (@BCDNewsBot) from gpt-5-mini to deepseek v4 flash and immediately it saved me 90% in expenses, with basically no loss in capability. The gap between capability and price is rapidly narrowing. Companies like OpenAI and Anthropic will need to adapt, or I imagine they will lose a lot of business to open source models. The frontier models might be marginally better for now, but as that gap continues to get more narrow it will be difficult for businesses to justify the extra cost for minimal increase in capability. Now that I am saving significantly more money I can actually make my bot do a lot of extra cool things, and it will still probably be cheaper than when I was using openai.