The last time I wrote about a stablecoin, it failed spectacularly. So when a colleague of mine suggested I write about MakerDAO’s proposal to invest in U.S. Treasurys to back its collateralized stablecoin DAI, I was reminded of the power I wield.
I’m completely joking, by the way. I don’t take myself that seriously. But while we are on the topic of spectacular failure, we should talk about spectacular failure.
Just two weeks ago, this newsletter suggested that opaque, intertwined platforms with excessive leverage were a danger to crypto investors. That was in the shadows of the hedge fund Three Arrows Capital’s insolvency, but now Celsius and Voyager (two retail-focused yield-generating platforms) have put together restructuring plans.
Which is what you do when you’re screwed. Voyager even declared Chapter 11 bankruptcy – the “good kind of bankruptcy,” for the record (if there’s such a thing) – proving that crypto is hell-bent on playing out the mistakes of traditional finance at...
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INN caught up with cryptocurrency investment expert Dan Hoover to review the current landscape and where the market may be heading. The cryptocurrency investment marketplace has gone through severa...