The collapse of #3AC was driven by greed and poor risk management. Interestingly, the firms facing issues are centralized lenders run by former #TradFi Suits, and the lenders to 3AC that made money off their loans were #DeFi Protocols.
The last bull run was marked by the “L1 rotation trade” where whatever new chain was gaining traction would explode in price. In the next run, value accrual models for L1 tokens will be the driving factor of price appreciation.
In a surprise move, @SBF_FTX and @FTX_Official came to the rescue of crypto lending firm @BlockFi with a massive deal to bail them out of their current insolvency issues.
The CEO, @BlockFiZac, explains the deal and what it means for client funds:
With the uptick in PVP and Activist M&A activity in the #crypto right now, it's helpful to understand and review different M&A Defense strategies that distressed companies and protocols use to prevent a takeover.
On June 30th, the EU finalized #MiCA, an agreement on sweeping #crypto regulation.
@SethHertlein explains how the EU's failed notion of “leading in regulation” rather than prioritizing innovation will impact the competitiveness of its #Web3 industry:
And finally, @ernesturtasun offers the counter-argument on #MiCA and how it provides safeguards to consumers, increases legal clarity, and supports sustainability:
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A 🧵 of the best 🧵's from #cryptotwitter last week. June 27-July 4th 2022
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June was an eventful month filled with bearish news as large firms in the crypto markets got liquidated.
@lars0x neatly sums up all the on-chain data:
#Defi is possible because #Eth is “Turing-complete,” meaning we can say with certainty Ethereum is capable of anything a computer can do.
@SalomonCrypto explains the fundamentals of Turing machines and the significance of Eth as the “world computer."
The collapse of #3AC was driven by greed and poor risk management. Interestingly, the firms facing issues are centralized lenders run by former #TradFi Suits, and the lenders to 3AC that made money off their loans were #DeFi Protocols.
@dankcoldturkey:
On June 30th, a large unlock of @ConvexFinance's $CVX tokens occurred.
@DefiShaka explains what's happening with the top 100 addresses with CVX after the "Great CVX Unlockening." Long story short, many got relocked.
Mark Twain famously said, "History never repeats itself, but it does often rhyme."
Often by studying the past, we gain insight into the present.
@rektdiomedes explains the spooky correlations between 1920s Weimar Germany and today:
The liquidity and credit issues in crypto over the last 2 months spread much like an infectious disease.
@JackNiewold maps the contagion from start to finish so that we may learn from the mistakes of others:
Has fiat money eroded the ability of young adults to form meaningful relationships, get married, and build families? If so, can #Bitcoin save us?
Psychologist and relationship therapist, @awaremoma, explains:
When priced in USD, #Bitcoin mining ASICs are approaching all-time low valuations. However, when denominated in #BTC, a different story emerges.
@hashrateindex explains:
#Web3 governance is an ongoing experiment drawing from civic and corporate governance traditions in ways that were previously impossible.
@_PorterSmith explains the fast iterative cycles of digital participation he calls "Lightspeed democracy."
#CryptoWinter is a time for self-reflection and reviewing #Defi's progress, or lack-there-of, over the last cycle.
@celiawan2 explains how L1s were the clear winners of the cycle, while Defi was limited by self-serving that degenerated into a ponzi:
The last bull run was marked by the “L1 rotation trade” where whatever new chain was gaining traction would explode in price. In the next run, value accrual models for L1 tokens will be the driving factor of price appreciation.
@0xdoug explains:
In a surprise move, @SBF_FTX and @FTX_Official came to the rescue of crypto lending firm @BlockFi with a massive deal to bail them out of their current insolvency issues.
The CEO, @BlockFiZac, explains the deal and what it means for client funds:
Most people in #Defi agree that L2s are poised to play a huge role in #Web3's mass adoption.
@josefabregab explains the current issues with L2s, smart L2s, and how @MetisDAO's recently published roadmap is indicating what is to come:
With the uptick in PVP and Activist M&A activity in the #crypto right now, it's helpful to understand and review different M&A Defense strategies that distressed companies and protocols use to prevent a takeover.
@analyticalali explains:
"The Curve Wars" were a defining event in #crypto that every #Defi aficionado should know and understand.
@0x_illuminati summarizes the tokenomics of $CRV creating a new paradigm in DeFi that everyone is fighting for control of:
On June 30th, the EU finalized #MiCA, an agreement on sweeping #crypto regulation.
@SethHertlein explains how the EU's failed notion of “leading in regulation” rather than prioritizing innovation will impact the competitiveness of its #Web3 industry:
And finally, @ernesturtasun offers the counter-argument on #MiCA and how it provides safeguards to consumers, increases legal clarity, and supports sustainability: