Daily Degen 2022 July 1 🦍📓

TLDR;

- FTX to buy BlockFi?

- CryptoHayees with another banger titled "Number 3"

- Do we really need another token?

- The case for companies using utility tokens

- The good ol days

---

1/ @FTX_Official looks to acquire @BlockFi for $275 million total ($250 million credit line + $25 million)

Frank Chaparona @fintechfrank

Also the total deal size is $275m, not $25m Unpaid loan + $25m

2/ @CryptoHayes dissecting what happened with CEFI and why DEFI protocols didn't blow up as well

Arthur Hayes @CryptoHayes

"Number Three" is a sad but predictable story of #cryptocurrency centralised trading and lending businesses blowing up due to too much leverage. Long Live #DeFi. SOFYL bit.ly/3uflAWe

3/ Do we really need another token?

JAI BHAVNANI @JAI_BHAVNANI

clay.mirror.xyzYou probably don’t need a token.The number of tokens listed on CoinMarketCap has now exceeded 20,000 on the heels of a banner year for capital formation in crypto, which saw over $33B of venture dollars flow into the ecosystem - much of which indexed toward companies or projects that plan to launch a token.

4/ @TaschaLabs speculating on utility tokens being used by real world companies

Tascha @TaschaLabs

Next wave of crypto adoption will come from utility tokens of real-world companies. Why & how:

5/ Simpler times

Trung Phan @TrungTPhan

In hindsight, this was prob the top.