analyst notes #3 (dec 5-12)
bit of a quieter week for once.
TLDR:
congressional hearing went pretty well.
hack szn? (gelato, ascendex, & India’s PM all got rekt)
penguin, sushi, & wonderland twitter drama. 👀
NEWS:
SBF et. al. appeared in front of the United States’ House Financial Services Committee in an effort to answer regulatory questions about the industry 🏛(wsj writeup) (full video)
congress was actually pretty receptive to the ideas discussed- only Brad Sherman 👴🏻 (CA rep., go figure) called it a scam.
crypto-twitter thought it went quite well. 📈 (vance’s tweet)
coindesk flubbed an interview w/ @stablekwon about it
Joseph Delong resigns from CEO position at SushiSwap (post-mortem)
some real high quality content lead up to this… plenty of ct drama…
Solana network had some issues, a bunch of transactions were being dropped for a few hours.
Ascendex exchange hacked for (rumor has it) ~$77M
users need not worry, however; the firm has said it will absorb the losses first and fully restore any potentially affected user balances
Indian PM hacked again, hacker uses twitter account to send fake “bitcoin now legal tender” announcement
Gelato got rekt ← “If you interacted with G-UNI pools via the Sorbet Finance UI, your funds are potentially AT RISK!”
Ubisoft unveiled plans to sell ✨ NFTs ✨in a youtube announcement, which was promptly hit with a 1:33 like-to-dislike ratio… (33k dislikes 👎)
pepsi also joined in on making NFTs even more distasteful in an epic corporate cash grab 🤑
Serum reduced their fees, as per this governance vote. 🗳
Polygon buys ZK tech startup Mir Protocol to the tune of $400m
pudgy penguins had a bunch of community management drama over twitter.
divergence ventures has disbanded after Ribbon finance sybil attack controversy, according to Calvin Liu (former partner iirc). 😔
lil bit of $TIME “drama” b/w Daniele and Trader Joe
GOOD READS:
Larry Cermak’s take on $AXS (calls it a ponzi token)
@zachxbt’s list of the worst crypto VCs (dyor though plz)
Kyle Davies & Zhu Su w/ the 3ac special
great thread on ZK tech & differences b/w starkware and zksync
random, but kinda fun: “HFT in my back yard”
*must read* 10/10 thread by @willbarnes about breaking into DeFi tech
vitalik buterin’s “endgame” (rly a subtweet about solana)
*self shill*: a piece I wrote about optics and motivations in crypto
Kyle’s thread about venture vs hedge fund structures (GP/LP dynamics)
PODCASTS:
bit of a quiet week, relatively speaking. see u next time.