In this episode of Empire's Weekly Roundup, Jason and Mike discuss the current state of crypto. It's officially a bear market, so how are companies and DAOs responding? What are the stories that you need to know? Tune in to find out.
Highlights include:
- Did companies overhire
- What happens in a down round
- Why we need to separate investors from traders
- DAOs look to stables and the need for debt financing
- The Coinbase vs FTX strategy debate
- Is the Lummis bill good for crypto
- Enterprise blockchains are back
- Optimism loses 20M OP tokens
- ApeCoin DAO sides with Ethereum
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Referenced in the show:
BlockFi down round
https://tinyurl.com/2tej9jyf
Novogratz says 2/3 of crypto funds will fail
https://tinyurl.com/yh4x2jsu
Lido, FEI and Frax proposals
https://research.lido.fi/t/lido-to-prepare-for-the-bear-market/2318/5
https://tribe.fei.money/t/tip-110-simplify-pcv/4323
https://gov.frax.finance/t/fip-77-20m-fxs-buyback-program-using-twamm/1523
SBF on Empire
https://tinyurl.com/23wp5uza
SBF on Invest Like The Best
https://tinyurl.com/2p8wsdfe
FTX surpasses Coinbase in BTC & ETH spot trading
https://coinmetrics.substack.com/p/state-of-the-network-issue-158?s=r
Coinbase job portal
https://coda.io/@coinbase-talent/coinbase-talent-hub/
Richard Burton article on how crypto is like building hardware
https://tinyurl.com/ytww6ap7
Tim Beiko on Bankless
https://tinyurl.com/2vxmcdux
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Timestamps
(00:00) Introduction
(02:45) Down Rounds, Layoffs and Hiring Freezes
(16:40) An Investor Reckoning?
(18:20) Separating Investors vs Traders
(20:05) Frothy Private Markets
(23:50) DAO Treasuries and Debt Financing
(27:53) Questioning Token Buybacks
(32:30) Bitmex Ad
(33:33) FTX Surpassing Coinbase
(40:15) Cynthia Lummis Bill
(45:15) Are Tokens Securities?
(48:21) Salesforce and Enterprise Blockchains
(56:15) Optimism loses $20M OP tokens
(59:45) APE DAO votes on Ethereum
(1:03:40) When ETH merge
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Disclaimer: Nothing said on Empire is a recommendation to buy or sell securities or tokens. This podcast is for informational purposes only, and any views expressed by anyone on the show are solely our opinions, not financial advice. Santiago, Jason, and our guests may hold positions in the companies, funds, or projects discussed.