Good day! This the Yellow Dip (Twitter) - A weekly newsletter that takes regular crypto news, mixes flavorful memes, and serves you a refreshing email every week.

On our agenda, today we have:

• Millionaires seek crypto advise

• Celsius to refund upto 94% for some users, but there's a catch

• Quick dips

Millionaires seek Crypto Advise

Last week we got the highest email open rate ever, when we talked about how to research crypto coins. Why is that?

We understand that everyone just wants a big fat portfolio of investments and stories to tell their relatives about how they made it. Well, sorry to break your bubble but the millionaires have been making enquiries in bulk since the correction started in 2022. (We will humbly accept any referrals of millionaire from you looking for crypto advice)

According to a US based Global Advisory group DeVere, 82% of the millionaires asked for advice on how to take advantage of the investment opportunities in the blockchain space.

Nigel Greene, CEO and Founder of DeVere group said, “Interestingly, this typically more conservative group(of investors) were not deterred by the bear market and adverse market conditions. Instead, they were looking to either start including or increasing their exposure to crypto.

“This suggests that these high-net-worth clients are increasingly aware of the inherent characteristics of cryptocurrencies like Bitcoin, which has the core values of being digital, global, borderless, decentralized and tamper-proof.”

“Wealthy investors understand that digital currencies are the future of money, and they don’t want to be left in the past.

In our opinion, investors will always look at pockets of opportunities and invest based on their risk appetite. Not planning to have a minimal amount of exposure to the space is at best due to lack of intent to do basic work to understand the market.

And if you haven't noticed, the market has bounced quite a bit off the lows and is looking to form a base to explode higher. Maybe the millionaires got the advice they needed!

Celsius to refund up to 94% of funds for some users, but there's a catch!

Celsius is a bankrupt cryptocurrency lending company. Celsius in its bankruptcy was ordered by the courts to refund the users the remaining funds which were available with the firm.

Roughly $44 Million will be returned to the users but the refund has some * conditions attached to it

1. Only users "were only ever in" the custody program

2. OR were moved to the custody program from interest-earning or borrow accounts in the 90 days prior to the petition

3. AND their value was less than $7,575

4. They also need to provide sufficient KYC and proof of how they got their ETH/BTC to transfer funds out of Celcius

Moreover, they will still only get 94% of funds they deposited.

Every cycle there are exchanges and services which offer amazing UI and make it easy for you to store crypto, but that ease brings with it, handing over custody of your hard earned assets over to the wolves. End result is the pain of losing all those gains for the majority. Don't be a sucker for 6%, or 7% yields on platforms where you do not fully own the keys. And now that you read our newsletter, rest assured that we will call out such risks during the upcoming crypto cycle too.

😂

Quick Dips

+ Australia and the UK share their big picture of crypto (Cointelegraph)

+ Winklevoss twins’ crypto exchange Gemini to contribute $100 million to Genesis bankruptcy recovery (CNBC)

+ Stablecoin adoption could lead to DeFi growth, says Aave founder (Cointelegraph)

+ Novogratz Says He Was ‘Darn Wrong’ on Crypto Leverage Risks (Bloomberg)

+ Luxury rehab centres now offer therapy for 'crypto addiction' (BBC)

That's it for today. Stay curious & see ya next week!

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DISCLAIMER: This newsletter is strictly educational and is not an investment advice to buy or sell any assets or to make any financial decisions. Please be careful and do your own research