A scary warning from a famous investor: top crypto news analyzed.

Happy Friyay, friend! 🥳

The streets of crypto never sleep, and that means my letters never stop! 😜 Vanessa from buidlbee here! The team that works non-stop to make sure all your crypto dreams come true. As usual, I bring you news, hot takes, and more analyses to make you a well-informed crypto investor.

Here's what I have for you:

• A cryptic "post-and-delete" from a well-known financial advisor 🧐

• BNB — A rising star 🚀

• Another crypto hack with millions of dollars lost 😓

We've all kinda had our hesitations about this year's market boom so far, but financial investor, Michael Burry, is not one to keep his mouth shut about it. If you have ever watched, "The Big Short," then you should have an idea of this guy. Being one of the stars the movie is based on, Burry has a keen and accurate eye for predicting asset downfalls and financial crashes.

He had one word for all investors, which he tweeted on January 31, followed by a swift account deactivation.

He also foresaw the market crash of summer 2021, liquidating all but one of his stock holdings prior, and recently went against Elon Musk and Cathie Woods, betting against both Tesla and Ark Innovation's January S&P 500's boom.

Burry shared yet another cryptic post on January 23, displaying the S&P 500’s drop during the dot-com bubble burst, and stirring the pot further by highlighting the rally from September 2001 to March 2002 before the market plummeted again. This insinuates that the recent boom in the asset market may not be sustainable in the long run.

So should we listen to Michael Burry the fortune teller? I can't say, friend, but Jeremy Grantham of GMO also recently predicted that S&P 500 would suffer a 50% decline if things turn for the worse, while Mark Spitznagel of Universa Investments warned of the largest ticking time bomb in financial history.

The bears work hard, but CZ of Binance works harder! 💪 While other crypto and tech companies were going bankrupt and laying off employees last year, Binance was busy taking over the crypto world, and it's no surprise BNB is following suit.

BNB gained 7% over the last week, breaking through the $330 resistance. Since the start of the year, the asset is up by at least 35% and could most likely get to $400 this month. It has also risen to 4th place in CoinMarketCap's market cap ranking. Here are some 2022 wins of BNB the rising star:

• BNB Chain surpassed Ethereum in the number of addresses for the first time.

• BNB Chain entered the top 3 largest blockchains in the world.

• CoinMetric lists BNB as one of the top 5 assets most resistant to the crypto winter.

Now, let's talk about what's making the Binance mascot blow up this year:

• The upcoming BNB Greenfield project is proposed to be used as a decentralized personal cloud storage in the ecosystem, powered by the BNB token.

• This month, Binance Chain developers will fully implement the parallel EVM transaction execution, which will boost the overall performance of the network and cut transaction costs.

• The first of the Binance quarterly burns this year happened a few days ago, which as we know, cuts down circulation and racks up value.

So, friend, it looks like BNB is an investment your portfolio simply should not do without. Besides, who doesn't want their share of the biggest player in the crypto market? 😉

I hate to end this with bad news, but the crypto market experienced another hack yesterday, with BonqDAO (BEUR) and AllianceBlock (ALBT) as the victims. 😔 Unknown hackers made away with 114M ALBT tokens and 98M BEUR stablecoins from the Bonq protocol, taking them down 65% and 40%, respectively. The total loss at the moment is over $66M.

Representatives of BonqDAO said this is how the hack went down:

• The hackers first increased ALBT's price.

• Then went on to mint a large amount of BEUR.

• Exchanged BEUR for other tokens.

• And finally reduced the value of ALBT.

The attack, however, did not affect other BonqDAO pools, and due to the low liquidity of the assets, the hacker's stolen profits fell short, as they were not able to convert all of the stolen funds in Ethereum and DAI, but only $1.7M. The rest still remains in his/her account.

So what now? AllianceBlock developers have paused all transactions, shared a screenshot of all transactions on the blockchain at that time, and are working on releasing the tokens and returning users' funds.

That's all the tea for today, friend. Have a fantastic weekend, share this with friends, as always, and I'll see you same time Monday with more resources to help you make it with crypto! 🔥