First two months officially in the books (it's felt like six) and the ten bitcoin ETFs now have over $55b in assets with exactly double that in volume at $110b. If these were the numbers at the end of year I'd call them a success. To do it in eight weeks is simply absurd.
1/11) Tether is one of the greatest threats to cryptocurrency right now:
With the potential of a collapse greater than Terra Luna's UST!
We have to trust they hold $74B in collateral without proof!
Even after the CFTC fined Tether for lying about their reserves in 2021...🧵
1/6) In early April 2020, the Solana team stated that the total circulating supply was 8.2M
When in reality the total circulating supply was above 20M!
Marking the start of a long series of lies, fraud & deception by SOL
The following story is all based on verifiable evidence:
We are establishing a bridge bank to protect all depositors of Signature Bank, New York, and to preserve the value of the institution’s assets and operations to sell at a later date.
Read more ➡️ https://t.co/6hxjJ6hHbT
The banks that blew up mismanaged their treasuries.
That’s true.
They bought treasuries with low yield before rates rose.
But…
It was the Fed’s historically aggressive rate hikes that made this a problem.
This is still mostly a central bank issue.
1/ Had a meta-level shower realization for why MEV auctions are necessary in blockchains.
As I say in this TCB episode—I was taught blockchains are big shared computers that we each take turns running code on.
I always cringed at MEV auctions because they destroy that fantasy.