DECENTRALIZED

Highlights

• FUD (Fear, Uncertainty, and Doubt) is not always FUD. 
• There is no substitute to doing your own due diligence in the crypto space.
• Always invest what you are prepared to lose.

Additional reading

• Taiwan bans credit card cryptocurrency purchases: https://www.coindesk.com/policy/2022/07/22/taiwan-set-to-ban-crypto-purchases-using-credit-cards-report/
• Deloitte survey: http://uk.businessinsider.com/deloitte-study-91-percent-agree-terms-of-service-without-reading-2017-11
• Celsius Terms of Service:  https://fortune.com/2022/06/14/celsius-network-terms-of-use-bankruptcy-digital-assets-deposit-insurance-fdic/
• Celsius “FUD”: https://www.coindesk.com/business/2020/07/28/what-crypto-lender-celsius-isnt-telling-its-depositors/
• Terra/UST “FUD”: https://www.bloomberg.com/news/articles/2022-05-15/luna-crash-this-crypto-insider-warned-of-terra-ust-s-collapse?sref=zVYYYI5e
• 3AC:https://cointelegraph.com/news/3ac-founders-reveal-ties-to-terra-founder-blame-overconfidence-for-collapse

Some crypto-specific news websites

• Coindesk: https://www.coindesk.com
• Cointelegraph: https://cointelegraph.com
• The Block: https://www.theblock.co
• Decrypt: https://decrypt.co

Episode Highlights

Macro conditions have not spared the crypto markets.

The implosion of UST/LUNA, and crises in the centralized crypto lending space have further shaken investor confidence.

Regulation might be needed to protect crypto lending firms from themselves and to protect investors

Retail investors need to protect themselves as well. 

Episode Links:

Bloomberg: https://www.bloomberg.com/news/articles/2022-05-20/outflows-hit-every-asset-as-bofa-signal-flashes-buy-for-stocks

Celsius: 

https://www.coindesk.com/business/2022/06/16/how-crypto-lender-celsius-overheated/

https://decrypt.co/104698/celsius-lost-390m-client-funds-from-high-risk-levered-trading-arkham-report

Vauld: https://www.coindesk.com/business/2022/07/04/lending-platform-vauld-looks-to-restructure-amid-crypto-downturn-suspends-transactions/

3AC:

https://cointelegraph.com/news/three-arrows-capital-has-failed-to-meet-margin-calls-report

https://www.theblock.co/post/155578/three-arrows-capital-files-for-chapter-15-bankruptcy-in-new-york

Exposure to 3AC

Blockfi: https://blockfi.com/a-message-from-our-founders-july-2022

Voyager: https://www.newswire.ca/news-releases/voyager-digital-provides-market-update-825686912.html

Genesis:https://cointelegraph.com/news/genesis-trading-ceo-confirms-3ac-exposure-parent-company-helps-plug-losses

Blockchain.com: https://www.coindesk.com/business/2022/07/08/crypto-exchange-blockchaincom-faces-250m-hit-on-loans-to-three-arrows-capital/

The crypto space is imperfect and ever-evolving, with tremendous potential  There is more to crypto than Bitcoin, Ethereum, and Dogecoin. Approximately 97% of the cryptocurrencies listed on Coinmarketcap are vaporware DeFi, Web3.0, the Metaverse, and crypto infrastructure are the crypto sectors seeing the most development

Episode Links

Coinmarketcap: https://coinmarketcap.com

Satoshi Nakamoto ‘s Bitcoin whitepaper: https://www.google.com/search?client=safari&rls=en&q=bitcoin+whitepaper&ie=UTF-8&oe=UTF-8

Further Reading

DeFi: https://www.coindesk.com/learn/what-is-defi/

Metaverse: https://www.coindesk.com/learn/everything-you-always-wanted-to-know-about-the-metaverse-but-were-afraid-to-ask/

Web3.0: https://coinmarketcap.com/alexandria/article/what-is-web-3-0