Welcome back to another crypto Daily 3 at 3. What's going on, guys? It is Wednesday, September 25th. First, we are going to talk, of course, about the price of Bitcoin and really the markets everywhere, cratering yesterday in extraordinary fashion. Second, we're going to look at some interesting new financings, funding

rounds for different companies with a particular emphasis on fold, which I think is really interesting.

And third, we're actually going to look at what, if anything, we work, and moreover,

what we work represents in terms of public market tech company valuations has to do with

crypto. Does it have any implications for crypto? But let's dive into obviously the biggest topic for

everyone tomorrow. So right around when we were doing three at three, the price of Bitcoin just

started crashing, crashing through the floor, right? So it went down something

like $1,000 in 30 minutes, you know, and ultimately it landed. At one point, it was trading

below 8,000. Now, it recovered a little bit and has been kind of back and forth between in the

lower to mid-eights

all day. But that's obviously quite a change from the weeks and weeks we've had of really hovering

and sticking close around 10,000. And so the question is like what the hell happened, right?

And of course, you know, I think everyone jumped in pretty quickly with their assessment.

So you had, you had Reuters who is writing that it had to do potentially with a tepid response

to backed. So they say Bitcoin struggled on Wednesday to recover from the three-month lows

it reached a day earlier, moves that traders blamed on a lukewarm reception for a futures product from the three-month lows it reached a day earlier, moves that traders blamed on a

lukewarm reception for a futures product from the owner of the New York Stock Exchange.

Obviously, we talked yesterday about the backed launch and what it meant and whether it was a

failure.

And so clearly some people are assessing that the lack of interest caused people to get really to start to sell off, right?

You had some folks who pointed out that this may be a possibility a while ago, right?

So Nico Z over here says, and this is from August 18th, so, you know, more than a month ago,

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