Will it all come crashing down? 🤯 On The Chopping Block, , , and I talk about potential fallout from this week’s FTX bombshell.
😬 💥 “This might be the last shoe to drop” for the crypto lending space, says Nic. youtube.com/watch?v=lSn1QW
Conversation
Replying to
After this was recorded, Genesis released this statement:
Quote Tweet
We want to provide an update on where things currently stand with our lending business. In anticipation of the extreme market volatility yesterday, we hedged and sold collateral resulting in a total loss of ~$7M across all counterparties, including Alameda.
Show this thread
1
7
"names that have a certain level of trust"
I think this is where crypto finance is going off on the wrong path.
The whole point of crypto is TRUSTLESS transacting.
FTX was just TradFi with extra steps and worse over-sight.
3
Please Nic, next shave the mustache. The hair in natural color is so much better already. I love you, man!
1
“crypto lending space” has been a dumpster fire, who financed these ponzis?
4
Show more replies