Has Crypto Lived Up To Its Promise?
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The Ethos of Cryptocurrency 💡
When the Bitcoin white paper came out (post financial crisis in 2008), the innovation was championed by a group of technologists and egalitarians who believed in a more transparent and inclusive financial network. In a few short years, this groundbreaking technology would capture the world’s attention and lay the foundation for what would become a multi-trillion-dollar industry.
However, significant events over the past 12-months call to question the core values of cryptocurrency and blockchain. The shocking collapse of FTX, Three Arrows Capital, Celsius, BlockFi, Voyager (the list goes on) challenges whether the ideological pursuits of cryptocurrency are reflected in today’s society.
Ether Capital CEO Brian Mosoff and other panelists who joined Steve Paikin on The Agenda weighed in on this topic and discussed how the crypto industry has changed over the years. If you want a better grasp on how crypto started and why it matters, it’s definitely worth checking out. Here’s a link to the full interview.
All Growed Up 😇
This year hasn’t been all bad news (despite the daunting headlines about crypto).
We are witnessing major companies like Visa propose automatic payments from self-hosted wallets, there’s new development and activity taking place across decentralized finance (DeFi), and Ethereum underwent a monumental technical upgrade (the Merge) that Ether Capital is proud to participate in.
There are no signs of the industry slowing down and we can only hope that Canadian regulation takes shape in 2023.
“We need clarity for the industry. We need to figure out what’s appropriate for retail investors to have access to, what types of activities they should be engaging in, and how the local platforms should comply,” said Brian Mosoff, CEO of Ether Capital. “The industry is growing up, it’s been over a decade and it’s time.”
Go here to watch the full interview with Andy Bell. We also shared our views on the differences between Bitcoin and Ethereum (we get asked that a lot).
Newsworthy Links & Highlights 🗞️
- Sam Bankman-Fried, founder and former CEO of FTX, has officially been extradited to the United States from the Bahamas. Meanwhile, Gary Wang, former CTO of FTX, and Caroline Ellison, former co-CEO of Alameda Research, have both pleaded guilty to federal charges in New York.
- A Bloomberg analyst says ETH is still poised to outperform BTC.
- Coinbase hires a new executive to oversee operations in Canada.
- Grayscale Investments CEO says up to a 20% share buyback of Grayscale Bitcoin Trust (GTBC) is possible if the conversion to a spot Bitcoin ETF is blocked by regulators.
- Binance.US reaches an agreement with Voyager to acquire its assets.
Confused About Crypto? 🤔
Don’t worry, we want to help!
While we can’t provide specific investment advice, we do want to steer you in the right direction to stay informed. Please reach out to us and we’ll do our best to answer your questions.
This newsletter is geared towards traditional investors who are interested in the space. If you have suggestions on how we can improve our content or make it better, please let us know — we love feedback! Thanks for subscribing.