Chrissy V

i like da markets #crypto #blockchain #eth #btc

[Chrissy V @ChrissyV103]

In the oncoming bull market, I may be most excited for the strengthening of the stablecoin ecosystem...

Money market funds are a cornerstone of finance, and there is real opportunity given how unwilling tradfi has been to offer savings rates in line with actual short-end rates.

[Progressive International @ProgIntl]

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[Chrissy V @ChrissyV103]

Really feels like blockchain in the US is being co-opted by established shareholder interests…

So much investment is just towards embedding blockchain into legacy business models rather than for advancing anything that’s actually transformational to the broader economy

[Chrissy V @ChrissyV103]

Wonderful climate change we’re having today

[Chrissy V @ChrissyV103]

Concept of the day🤔

[Chrissy V @ChrissyV103]

How does #eacc feel about traditionalism in society and political thinking?

[Chrissy V @ChrissyV103]

I expect this dynamic to last for as long as rates are high (meaning that hawkish fed sentiment may be somewhat bullish for crypto) or until commercial RE makes a meaningful recovery.. and think of all we will accomplish in that time.

A bit of bear-repellent for the bulls..
(6)

[Chrissy V @ChrissyV103]

🧵Underrated Market Dynamic

The shock to NYCB caused by losses on just two commercial loans is a testament as to why the approval of spot BTC ETFs is a massive limiter to downside risk in crypto, and it seems like few people have fully realized the significance of this. (1)

[Chrissy V @ChrissyV103]

While I can't speak to the discount rates or cashflow projections used by each crypto investor, this should massively drive up the intrinsic value of digital assets, all else equal.

Value is a function of risk.
Risk is down massively.
Valuations should be much much higher.

(5)

[Chrissy V @ChrissyV103]

The first hard fork was BTC from USD

[Chrissy V @ChrissyV103]

I really think decentralization could be a positive force for combatting wealth inequality. I’d be curious to hear opinions to the contrary

[Chrissy V @ChrissyV103]

A shared network may simply charge users a subscription for access. Firms would thereby save on back-office costs

However, large firms enjoy cheaper funding and can spread their fixed costs more broadly, so why would they want to give up this advantage?

This is anti-competitive

[Chrissy V @ChrissyV103]

Shared blockchain infrastructure for securities markets would make clear sense, at least for basic KYC onboarding, AML/compliance, and to prevent double-spend.

But

There is a huge strategic disincentive for larger firms to adopt such a model, unfortunately. (1)

[Chrissy V @ChrissyV103]

@EricBalchunas Couldn’t be more torn on KC vs Baltimore. I’d love to see the Ravens get to the chip.. but on the other hand, I kinda want to see a modern day great get even greater (@ pattie mahomes)

[Chrissy V @ChrissyV103]

@TimMeggs It’s almost comedic when people argue that legacy infrastructure is good enough.. it’s systemically flawed, hence the sustained lack of progress

I’d love to see more shared infrastructure. The current firm-by-firm method of onboarding just seems so needlessly expensive/inefficnt

[Chrissy V @ChrissyV103]

Stablecoins should now be more well-equipped to handle this demand, as well, given their greater integration into tradfi infrastructure

Whereas Luna largely bought BTC to back their ecosystem, funds will now be better able to back their networks with traditional financial assets

[Chrissy V @ChrissyV103]

In the oncoming bull market, I may be most excited for the strengthening of the stablecoin ecosystem...

Money market funds are a cornerstone of finance, and there is real opportunity given how unwilling tradfi has been to offer savings rates in line with actual short-end rates.

[Chrissy V @ChrissyV103]

For clarification: HF managers are paid/fired based on their fund's performance. If they outperform competitors, they have better pay/job security

As long as one/a few funds successfully provide higher returns via crypto mmkts, then the rest will have to follow simply to compete