jcook2004

A message to the poors: eat cereal for dinner

The economic class divide and what it means for crypto

A random walk down blockchain hell: Do we really need a Blockchain powered by Oracle or a PayPal stablecoin?

A group of anons with NFTs as their PFP and Chinese characters as their discord handle create a “decentralized yield aggregator” on a beta version of an L2 that just launched onto mainnet 90 days ago. The platform offers vaults with 400% APY on USDT, 500% on their native token, 1200% on partner tokens, and 100% on ETH....

When stuff costs more, consumers spend less, and companies stop growing: a prediction of the future.

The failure of vesting smart contracts and limitations of token vesting agreements for crypto investors.

Have you noticed:

When the price of US equities (SPY, QQQ) goes up, crypto assets like Bitcoin, Ethereum, and Solana also go up.

When US equity prices go down, crypto prices follow.

Is this a coincidence?

Is crypto's latest bull run a byproduct of strong fundamentals and new user adoption, the invisible hand of the Federal Reserve, or just another dead cat bounce?

Claims of Grayscale malfeasance & intentional deception plus DCG’s Grayscale conflict of interest

1. How to get a leveraged loan

2. How leveraged lending protocols manage risk and liquidations

3. Risk vs reward

In part 1 we outline:

1. The complex relationship between Gemini Exchange, Genesis Trading, and Gemini’s Earn program

2. Allegations of conflicts of interest between Genesis and Grayscale

3. Questionable lending practices of Genesis

How to model an overcollateralized on-chain loan and avoid liquidation with aave

1. Real-world assets by exploring MakerDAO’s foray into commercial real estate

2. Optimism’s token valuation & upcoming unlock

3. A post-mortem on the GMI token: it didn’t make it

Is now the time to buy Grayscale's bitcoin trust?

A hands-on deep dive into crypto self custody: what it means, why you should care, and how to take custody of your crypto with a multi-sig wallet provider like Gnosis

Take custody of your crypto, and what to do if you need to revoke dapp access.

FTX.us used a centralized storage provider for its NFT marketplace. All NFT marketplaces which sold NFTs hosted on FTX are now DOA.

Should NFTs which are hosted on peer-to-peer file systems like IPFS but accessed via an HTTP-based service be classified as “http” storage types, or are they sufficiently decentralized?

All major analysts missed their 2022 estimate. The bulls were too bullish, the bears were not bearish enough. Looking into 2023, dispersion amongst analysts persists.

BlockFi lending desk uses ~$1.7 billion of depositor funds and deploys capital to Grayscale to participate in GTBC’s NAV premium trade…

…and also extends Alameda a $680 million loan collateralized by now worthless FTT tokens…

…while BlockFi’s trading desk deploys $355 million to the FTX exchange..

…unfortunately, BlockFi’s risk management team failed to see the GBTC/3AC crypto winter and loses almost ~$1 billion of depositor funds…

..but to avoid bankruptcy FTX extends a $400 million credit facility to BlockFi collateralized by the now worthless FTT tokens…

..only to have Alameda Research caught in its own liquidity crunch vis-a-vis the downward pressure of the FTT ponzi token…

..to stop the bleeding SBF personally guarantees Alameda’s $680 million loan via his Robinhood stake…

….through a shell company called Emergent…

…which legally operates at arm’s length from FTX…

…but is controlled by SBF…

and funded by FTX revenues!

Retail investors pumped money into centralized exchanges and funds like BlockFi and Genesis…

… which then took the customer deposits and directly or indirectly entered into long GBTC positions…

..unsatisfied with the 6 month lock-up period on GBTC positions…

..the same exchanges and hedge funds borrowed against the GBTC…

…by converting their positions into cash/US-denominated stable coins…

..to provide yield to their depositors…

..and repeat the loop with new depositor funds and new leveraged long BTC positions with the USDC collateral.

Genesis provides capital to hedge funds which are used to buy BTC via Grayscale’s trust. Once the hedge funds receive GBTC, Genesis incentivizes the same hedge funds with liquidity against their GBTC (via USDC) to buy more bitcoin and deposit more, leveraged, assets into the Grayscale Trust!

How is this not criminal?

Recession indicators, labor force participation, and crypto.

How the talking heads on TV and legacy news chose to delete sections of their websites rather than report the truth on FTX.

How do you think the market, investors, and regulators reacted to a literal worthless crypto token with fake yield used as collateral to trade futures? With 100% acceptance.

this aged nicely - timeless!

How crypto bank FTX stole $16 billion dollars of depositor funds