1/ @SmallCapScience on the FUD regarding @MicroStrategy getting liquidated below $BTC at $21K
Seeing tons of FUD regarding @MicroStrategy getting a liquidated below $21k, the risk is heavily exaggerated.
There is a large difference between liquidation and getting a margin call. @saylor & $MSTR have enough uncollateralized $BTC to fend off a margin call at these levels.
2/ @coinbase to lay off 18% of its workforce
1/ Today I shared that I've made the difficult decision to reduce the size of our team at Coinbase by about 18%. The broader market downturn means that we need to be more mindful of costs as we head into a potential recession.
3/ Rumors regarding Three Arrows Capital becoming insolvent
3AC in trouble? rumors swirling
- Kyle and Zhu havent tweeted or liked anything in days
- Zhu took every coin and # tag out of his bio
- Zhu deleted his instagram
- an hour ago they dumped 30k stETH and reduced all AAVE positions
4/ @AriDavidPaul comparing the 2022 crypto crash to the post-2000 tech crash
Imo, crypto now going through something vaguely like post-2000 tech crash. We proved modest product market fit in several areas, but A. Products and infrastructure need to be much better to truly cross chasm to mainstream. B. And adoption is ~5 years behind where some hoped. /1
Daily Degen 2022 June 15 🦍📓