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Hi folks 🙋🏻♂️,
The past month in crypto felt like years instead. Not surprising given the fact that one year in crypto is literally five years in the equities market if you calculate the trading hours. Everything that happened with FTX, BlockFi, and Genesis can be attributed to one thing: speculation. So long as the capital market exists, it’s human nature to speculate. An acquaintance of mine once said: “it’s glorified gambling, we just call it investing”. Whoops, forget that you ever read that last sentence.
Anyway, this week I’m taking another break (how dare you!) and will instead present a Q3 2022 Digital Asset Ecosystem report from my employer, Digital Asset Research. Please enjoy the report, I’ll be back next week.