Crypto collapse: FTX first-day hearing, Genesis screws DCG, Silvergate Bank
“I think we’re shortly to find that embedded leverage in the sector was far, far higher than anyone, even its most ardent critics, expected.”
Tag: sec
News: US Treasury on the threat of crypto; failed corporate NFTs; SEC vs. Yuga Labs; Urbit tries again
They say damp records the past. If that’s so, I’ve got the biggest library yet.
Regulatory clarity: doomed US crypto bills, Nigeria’s CBDC lacks repeat users, central banks don’t like crypto either
At least the Agriculture Committee has a lot of experience with cowboys and bull manure.
Proof-of-Stake is better than Proof-of-Work — but Ethereum’s Merge won’t fix any other problem with cryptocurrency
Proof-of-stake will still be a vast improvement over proof-of-work. In all other senses, none of this matters.
News: UST fallout, Central African Republic fallout, Coinbase Custody not safe in bankruptcy, Catalonia and Russian bitcoins
History always repeats, but only the dumb stuff.
News: Sam Bankman-Fried on DeFi ponzinomics, Grayscale ETF comments, Binance and Russia, El Salvador
You wouldn’t funge a car.
News: Facebook’s Zuck Bucks; Worldcoin wants your eyeballs; Bitcoin miners still can’t sell their coins; NFT gaming fails
“please note how they’ve taken the actual melbourne course design and just … pasted it onto the sydney image. so half the track is underwater.”
Web3: a VC-funded gig economy of securities fraud
If you look at a “Web3” offering and just think of it as a pump-and-dump onto retail investors, everything will make much more sense.
News: Royal Mint NFT, Europe requires crypto transaction traceability, VCs drop the “.eth”
Original art, do not steal.