W&L Blockchain Society

FTX is dead. The deal with Binance is dead. Billions of dollars - dead. Some thoughts on the FTX debacle and where things are going from here... But first, why should you listen to me? 🧵👇 [1/34]

An interesting potential reason for the explosion. I am sure Terra's was an iceburg they didn't see coming

@tier10k There is no incentive for Binance to go through with the rescue, the agreement was non-binding. The hole is rumored to be 6-10B USD, FTX is a dumpster fire. Even without the huge hole, sources indicate most of their legal team quit which would make any rescue more difficult.

[DB] Binance Is Strongly Leaning Toward Scrapping FTX Rescue Takeover After First Glance at Books: CoinDesk Source

1/ Ok so just processing this out loud because I am pretty mindblown that FTX chose - of all options, a buyout from Binance. These were the options open to SBF: (a) seek emergency debt financing, (b) seek new money investment, (c) liquidate assets and/or (d) buy time...

Hey guys, sorry it has been quiet on the twitter front as of late. Working to get more active on here, please @ us would love some retweetable content!

Meme of the week:

Just onboarded our frens @wandlblockchain 📚 A student organization, advocating & educating students on web3🧑‍🎓 Using Common Ground as their web3 classroom, utilizing channels to hold discussions on specific topics, creating & sharing educational content for their community 👨‍👩‍👦‍👦

The Eth merge is essentially upon us; what happens? 🧵 -Proof of work -> Proof of Stake No longer will the blockchain rely on *miners* rushing to complete complex computations to verify the blockchain, instead we get staking and *validators*

@AriDavidPaul If you’re ditching your investment thesis now, it wasn’t a good one to begin with

It’s easy being an investor when you can be extremely confident in a thesis and ride it. People want to hear “$100k by year end is guaranteed by the model” or the halving cycle or fundamentals or whatever. If this ends up looking at all like 1970s, buckle up for more chop.

@dcinvestor Well that and an unstable macro environment

the problem with getting investors to sell ETH to save the peg of a stablecoin backed mostly by confidence is it just tanks the whole market

@CameronSepahi and @Ben_mac2 discussing the Ethereum roadmap last night. When school doesn’t teach it, educate each other❗️

Crypto has become a huge part of top US universities. Of the top 10: - 4 have dedicated crypto centers (Stanford, MIT, Columbia, Princeton) - Almost all have dedicated classes, which in some cases are the most popular at the school - Almost all have dedicated student groups

Biden's executive order is great news. The administration realizes a transformative technology like crypto demands a comprehensive approach to keep the nation, industry, and ordinary Americans at the forefront of global innovation. We're here to help.

Lifetime access passes via NFT are a great way for companies and brands to leverage on user-driven rather than intermediary-driven capital structure Much of the private equity arb in the past was in capitalizing and scaling strong brands Founder+user driven is the future

The US GDP has turned out to be higher than expected, boosting the Dow 400 points.

Crypto seems to have encountered some support around current prices as we start to run out of buyers. However, we are still in a market with extreme investor fear so we can still expect high volatility.

01/27/22 Market Update 👇

This combined with the fear index at 13 (extreme fear) limits hopes for any significant short-term upside.

Short term hope remains in the market simply running out of sellers. Yet while we’ve seen a modest bounce in Bitcoin of 3% this Monday, it still faces significant resistance at $40k.

01/24/22 Market Update 🧵👇