tl;dr
• Alameda will pay the $377M owed to Voyager (a little clarity in muddy waters)• Billionaire Mike Novogratz says things will remain choppy bulk of carnage is over• El Salvador's Bukele hits back at NY Times asking if they will apologize when the country doesn't default• A metaverse of a conversation...
• Alameda will pay the $377M owed to Voyager (a little clarity in muddy waters)
• Billionaire Mike Novogratz says things will remain choppy bulk of carnage is over
• El Salvador's Bukele hits back at NY Times asking if they will apologize when the country doesn't default
• A metaverse of a conversation with Jayme Hill-Gardner of emoji fame
• In a big move Robinhood will now support transfers of Bitcoin, Shiba Inu, Polygon
• The US Treasury releases a proposal for a global framework for crypto regulations
There is so much going on that I need to focus on the longer term effects and not so much on the near term. Here is what is on my mind today.
1. I wasn't the only one scratching my head over the whole FTX/Alameda/Voyager business dealings debacle. CZ, CEO of Binance, has also spoken out and has criticized the convoluted relationship between each of the entities. I guess Sam Bankman-Fried has gotten tired enough of the noise and said Alameda will pay the $377M owed to Voyager and take back the assets used to secure that loan. I don't think Voyager has a bright future either way, but at least this will make the waters a little less muddy.
2. Billionaire Mike Novogratz was on CNBC yesterday and was saying the crypto waters will remain choppy but believe the bulk of the carnage is over. I think he is correct. We will still see fallout from the 4 major crypto events (Terra, Three Arrows Capital, Voyager, and Celsius), but the bulk of the fallout has been realized. The last question for me is how will this affect miners. Remember, they are holding a lot of Bitcoin. Marathon is still holding, but, as I reported yesterday, Core Scientific had to liquidate a bit. As long as we don't see too much more liquidation having downward pressure on Bitcoin, we should be good and primed for growth.
3. I was reading the Times and noticed they like going after El Salvador's Bukele for his Bitcoin gamble. I don't see his purchasing Bitcoin as a gamble, but a very smart move on his part. I think the bold investment in the country's future will prove to be very wise. I like Bukele's tweet in response to the Ny Times asking if they will publish an apology when the country makes its next debt payment on time since the news outlet stated they think El Salvador will default. Hat tip to Bitcoinist for catching the same idea and publishing a great article (not written by me).
4. I had a great conversation with Jayme Hill-Gardner, COO of Diamond Media Solutions, last night about the future of metaverses. You may know her as the woman that wrote a thesis titled "The Impact of Emojis and Emoticons on Online Consumer Reviews, Perceived Company Response Quality, Brand Relationship, and Purchase Intent". We spoke about what it is, what it is not and why no one has an has a rock solid answer, except that there is more than one metaverse. I told her to start her research by going into the various metaverses that are out there, Minecraft, Roblox, Pavia, Decentraland, and The Sandbox to start. Check out how our conversation started at https://www.linkedin.com/posts/rebelvisions_chevrolets-first-nft-draws-zero-bids-even-activity-6950444715636916224-02dC?utm_source=linkedin_share&utm_medium=member_desktop_web.
5. Robinhood is making moves announcing they will allow transfers of the major cryptocurrencies on the platform, including Bitcoin, Shiba Inu, Polygon.
6. The US Treasury released a proposal for global framework for crypto regulation stemming from the Executive Order issued by President Biden. I think this is a huge undertaking and would have to include the disparate views around the world.