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Continue reading →: Taking A Break
As the title indicates, I am taking a break from writing on this site. There are psychological and financial reasons for my decision. I am out of money. I am out of food. Someone stole my phone. My Internet connection and bank account have been shut down. My credit cards…
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Continue reading →: 8/2: Worldcoin Token, MicroStrategy, and A Crypto Crash
Global identity startup Worldcoin’s token WLD is a natural at swimming in crypto’s murky waters. A week after launch, its price is already up by 4.6%. As of this writing, it is changing hands at $2.37, down 1.4% since yesterday. This is despite the fact that governments and regulators around…
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Continue reading →: Notes 8/1: Hack at Curve Finance, Bitcoin Price
That crypto is a house of cards with worthless tokens is an open secret. It is, to quote Bloomberg columnist Matt Levine, a toy system. But it makes for a good academic study into how risk and volatility are transmitted across a system. In the latest instance of this study,…
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Continue reading →: Notes 3/31: Tether Attestation Report, Stablecoins as Free Banking, and The Banality of Another DeFi Hack
Tether, the algorithmic stablecoin that straddles all of crypto, released an attestation report for its second quarter this morning. As usual, it is a sham exercise. The report is a mishmash of meaningless statistics and assertions and does not provide much clarity about the stablecoin’s finances though it does bring…