Over the 13 years, the cryptocurrency business has made millionaires from early Bitcoin adopters. It stayed on to the commodity while its value climbed inexorably. Indeed, it is not possible to say whether profitable deals can be repeated in the future. GCR, the driving leader behind RebirthDAO, ranks high on a closely watched list known as the FTX Top 100 Traders by PNL. He was the trader who was shown on the FTX Leaderboard.
GCR’s story shows a glimpse into the strange world of crypto markets. Individual traders occasionally band together to speculate on unpredictable asset prices, hoping their collective assessment is correct. GCR was plotting a different, contrarian trade: a large short or a large wager against inflated altcoins, which would result in significant profits if his pessimistic predictions came true. While GCR provided a targeted list of tokens and the central trading thesis, the analysts would independently research the unlocks and then reconvene to iron out any conflicting information. All the accomplices are asked to identify the traders by their Twitter and Discord nicknames instead of their proper names. GCR has had a high Twitter following since last year. He routinely appears on the FTX exchange’s Top 100 Traders leaderboard, ranking users by profit and loss under the alias Gigantic-Cassocked-Rebirth.GCR claims to have shorted about 30 different tokens across numerous platforms. In January, he shared a screenshot of a trading dashboard from the FTX cryptocurrency exchange, reportedly showing large winnings from the gamble.GCR puts out an open call to his legion of Twitter followers. He hired researchers to look into the dozens of tokens’ distribution, unlocking, and vesting schedules.GCR has over 85,000 Twitter followers.