This Week’s Winners and Losers in Crypto
Big week in crypto! Banks going down causing BTC to go up. Alts (sort of) following suit. But who are the biggest winners and losers for the week? Biggest Winner(s): Arbitrum Airdrop Participants Thursday was a big day for those eligible for the coveted Arbitrum airdrop, but there were bumps along the way. The claim site was down from almost moments when it went live, and was nearly inaccessible for hours. However, after the dust settled, the price hovered above what estimates predicted (>$1)...
Post FTX: Bananas In The Bahamas
FTX’s spectacular implosion sent ripples which was felt by all through the cryptoverse, but has also hit the people of the Bahamas, where FTX was headquartered. According to a report in the WSJ, the island nation initially welcomed FTX with it’s lax and favorable crypto laws and eventually the locals became the supporting cast for FTX employees. Catering, security, transportation, event planning, logistics and many more services were required and the locals began taking up these jobs, creatin...
STOCK Act Gets Busted
Nancy Pelosi might not be too keen on the reformation bubbling up in her backyard. On Thursday, a new framework was released to change the policy known as the STOCK Act, aka "Stop Trading on Congressional Knowledge", which puts the onus on congressional and government leaders to disclose stock and asset purchases, in order keep transparency with the public. Historically, there have been quite a few calls on leaders to stop purchasing stocks because of the potential of insider knowledge on upc...
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This Week’s Winners and Losers in Crypto
Big week in crypto! Banks going down causing BTC to go up. Alts (sort of) following suit. But who are the biggest winners and losers for the week? Biggest Winner(s): Arbitrum Airdrop Participants Thursday was a big day for those eligible for the coveted Arbitrum airdrop, but there were bumps along the way. The claim site was down from almost moments when it went live, and was nearly inaccessible for hours. However, after the dust settled, the price hovered above what estimates predicted (>$1)...
Post FTX: Bananas In The Bahamas
FTX’s spectacular implosion sent ripples which was felt by all through the cryptoverse, but has also hit the people of the Bahamas, where FTX was headquartered. According to a report in the WSJ, the island nation initially welcomed FTX with it’s lax and favorable crypto laws and eventually the locals became the supporting cast for FTX employees. Catering, security, transportation, event planning, logistics and many more services were required and the locals began taking up these jobs, creatin...
STOCK Act Gets Busted
Nancy Pelosi might not be too keen on the reformation bubbling up in her backyard. On Thursday, a new framework was released to change the policy known as the STOCK Act, aka "Stop Trading on Congressional Knowledge", which puts the onus on congressional and government leaders to disclose stock and asset purchases, in order keep transparency with the public. Historically, there have been quite a few calls on leaders to stop purchasing stocks because of the potential of insider knowledge on upc...
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In an already bloated NFT market, Tencent has decided to shutter one of their two NFT marketplaces, amid low sales and strict regulations. However, reports state their 2nd marketplace is also struggling to stay afloat. Apparently in China, NFT purchasers are prohibited from selling in private transactions afterwards. This trend follows social media giants Weibo and WeChat in removing any links to NFTs in recent months. Alibaba had also unveiled an NFT marketplace, but reversed course very quickly after.
The NFT market is a rough place to be right now, and it shows. If the top of the top platforms, such as OpenSea, are struggling then these other marketplaces stand zero chance. Overall, I believed there were far too many platforms with not enough incentives to transact off them, so this dead-weight cycle was inevitable.
Written by: nikethereum.eth / Medium
In an already bloated NFT market, Tencent has decided to shutter one of their two NFT marketplaces, amid low sales and strict regulations. However, reports state their 2nd marketplace is also struggling to stay afloat. Apparently in China, NFT purchasers are prohibited from selling in private transactions afterwards. This trend follows social media giants Weibo and WeChat in removing any links to NFTs in recent months. Alibaba had also unveiled an NFT marketplace, but reversed course very quickly after.
The NFT market is a rough place to be right now, and it shows. If the top of the top platforms, such as OpenSea, are struggling then these other marketplaces stand zero chance. Overall, I believed there were far too many platforms with not enough incentives to transact off them, so this dead-weight cycle was inevitable.
Written by: nikethereum.eth / Medium
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