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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If this week doesn’t have you shaking in your boots, well just read all of the FTX drama and get ready to pee your pants. Any money in centralized institutions have one inherent risk no matter what the institutions security policies are, and that is the dreaded “Withdrawal Paused” feature. Even with the utmost security and monetary policies, we are seeing withdrawal pausing to avoid bank runs which could cripple the entity. They claim that it’s to “protect” the users, but how is that fair? If I want to remove my money at any time, I should be able to!
If you’ve only used CEX’s (FTX, KuCoin, Coinbase, Gemini, etc.) to custody your assets, here are three of my favorite wallet providers to use instead:
MetaMask — This is probably the most popular hot wallet provider that has a browser extension, along with a mobile app. NFT’s will not show up in the browser extension, but do show in the mobile app.
Exodus — Another popular hot wallet provider that has a native app for Windows, MacOS, and Linux along with mobile apps for iOS and Android. It also recently introduced a browser extension. My testing on the extension has shown it’s a bit buggy but I’m sure that will be resolved soon enough.
Trezor — Cold wallets, unlike hot wallets, help keep your assets safe even more. These devices only connect to the internet once plugged into a computer, and even then, the Trezor desktop app connects via Tor network for even greater security and anonymity. They are pricey, but if you have $10K work of assets, spending ~$70 for the cheapest model might not be a bad investment for keeping you stuff safe.
Remember, only YOU have the power to protect your assets. Not your keys, not your wallet!
Written by: nikethereum.eth / Medium / Mirror
If this week doesn’t have you shaking in your boots, well just read all of the FTX drama and get ready to pee your pants. Any money in centralized institutions have one inherent risk no matter what the institutions security policies are, and that is the dreaded “Withdrawal Paused” feature. Even with the utmost security and monetary policies, we are seeing withdrawal pausing to avoid bank runs which could cripple the entity. They claim that it’s to “protect” the users, but how is that fair? If I want to remove my money at any time, I should be able to!
If you’ve only used CEX’s (FTX, KuCoin, Coinbase, Gemini, etc.) to custody your assets, here are three of my favorite wallet providers to use instead:
MetaMask — This is probably the most popular hot wallet provider that has a browser extension, along with a mobile app. NFT’s will not show up in the browser extension, but do show in the mobile app.
Exodus — Another popular hot wallet provider that has a native app for Windows, MacOS, and Linux along with mobile apps for iOS and Android. It also recently introduced a browser extension. My testing on the extension has shown it’s a bit buggy but I’m sure that will be resolved soon enough.
Trezor — Cold wallets, unlike hot wallets, help keep your assets safe even more. These devices only connect to the internet once plugged into a computer, and even then, the Trezor desktop app connects via Tor network for even greater security and anonymity. They are pricey, but if you have $10K work of assets, spending ~$70 for the cheapest model might not be a bad investment for keeping you stuff safe.
Remember, only YOU have the power to protect your assets. Not your keys, not your wallet!
Written by: nikethereum.eth / Medium / Mirror
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