🧵🧠 Checkmate 2023: Embrace Crypto's Power Narratives
Weekly Digest - Week of April 10th
Hey there fellow crypto degens,
We curate the best educational resources in crypto. Here’s a digest of the top content from The Crypto Illuminati this week.
Got your cup of coffee ready? Alright, let's jump right in ☕
♟️ Winning at Crypto Chess: Narrative Edition
The article discusses the key narratives dominating the crypto landscape and how they influence the success of investors in the space.
The Arbitrum ecosystem is revolutionizing the crypto space with its impressive performance and cutting-edge technology.
The Real-World Assets (RWA) market is gaining traction, driven by major players like Blackrock betting on tokenization.
Projects like Theopetra Labs, Blocksquare, Galileo Protocol, and EktaChain are top RWA projects to watch.
Preparing for the Shanghai Upgrade requires withdrawing ETH, with guidance available from experts like Olimpio.
Airdrops are expected to be a major trend in 2023, with resources like Our Crypto Talk and Hoeem offering insights and expert perspectives.
Keep reading 🍿
🏋️ Is Crypto Worth its Weight in Hype?
The article discusses economist Tyler Cowen's views on the risks, rewards, and regulatory realities in the crypto industry as discussed in the Bankless Podcast.
Crypto's potential to reduce remittance fees and its innovative nature makes it underrated, but its previous overvaluation during bull markets is acknowledged.
Scams are not unique to crypto, and the scamming equilibrium will exist with or without it; the focus should be on identifying sustainable use cases.
Experts suggest a cautious approach to regulation, waiting to see which use cases succeed before imposing restrictions on institutions like Coinbase.
Privacy in the crypto space is a debated issue, with some experts advocating for a state of indifference where individuals have some level of privacy without raising government concerns.
The podcast explores the potential risks and rewards of crypto regulation in the US, questioning the possibility of self-regulation in the industry and discussing the implications of over-regulation.
Keep reading 🍿:
☠️ Operation Choke Point 2.0: Crypto in the Crosshairs
The article discusses insights from the Unchained podcast on Operation Choke Point 2.0, the relationship between the government and the crypto industry, and the status of different tokens as securities or commodities.
Operation Choke Point 2.0 is a coordinated effort by federal agencies to limit crypto companies' access to banking services, raising concerns for the industry.
The panelists argue that the current banking crisis is not caused by the crypto industry, but by rapidly changing interest rates and liquidity risks.
Silvergate Bank and Signature Bank are discussed in relation to political pressure, client withdrawals, and the importance of diversifying clientele.
The timing of enforcement actions from the SEC, CFTC, and other agencies against crypto firms raises questions about a coordinated crackdown on crypto across government agencies.
The podcast explores enforcement actions, coordination across agencies, the US Dollar & the financial system, geopolitics, and the concept of 'hyper-bitcoinization'.
Keep reading 🍿:
😵 Decentralized Governance Died with These Projects
The article discusses the challenges faced by various projects in their attempts to establish fair and transparent decentralized governance in the crypto space.
Arbitrum's first DAO vote and fund use decisions were controversial, leading to $1B ARB tokens at risk due to a lack of full on-chain governance.
Uniswap faces concerns of centralization as major investors like a16z can buy controlling shares, undermining the idea of decentralization.
Starknet DAO is heading toward its first governance vote, with community members responsible for the new protocol update leading to a mainnet launch.
FTX's issues were rooted in corporate governance problems, rather than crypto-specific ones, with a lack of proper documentation on customer fund usage.
The SEC's recent focus on governance tokens highlights potential enforcement targets in the crypto industry, emphasizing the need for projects to adapt and evolve.
Keep reading 🍿:
Which crypto narrative are you paying the most attention to?