Tradfi markets are in serious trouble. Good news is I don’t think the exotic leverage is as extreme as it was in 2008. Lot had been done since then to insulate contagion, so to say

My dude made a BITCOIN RAINBOW Maybe we do need content moderation on twitter

DeFi will eat TradFi. The question for 10x founders and investors is 1) timing and 2) where the DeFi 'bite' starts. The International Monetary Fund has dedicated a chapter on DeFi in their 2022 report. Huge alpha drop! HOW will DeFi eat TradFi? Bullish narratives here 🧵👇

To recap: Senator Warren doesn't like Wall St Banks, Apple, grocery stores, Google, poultry companies, Amazon, energy companies, Facebook, single family rentals, Microsoft's acq of Activision, private equity, Elon Musk, food processors, chip manufacturers, bitcoin and Fidelity

This is quite bad. But the good news is the consumer is nowhere near as leveraged as they were last cycle. The odds of an 08 style meltdown are low. This will be different but still painful. Not to mention Wall Street is less levered as well

Took a peek in the Anchor discord. not great vibes, to be frank

The Luna community really deserved this. they created such toxicity and battle lines in crypto However, dunking when others are down is not cool or constructive for crypto The concept of $UST was critical to the future of crypto. Come up with something better or dont be an ass

How to make a >800 million dollars in crypto attacking the once 3rd largest stablecoin, Soros style: Everyone is talking about the $UST attack right now, including Janet Yellen. But no one is talking about how much money the attacker made (or how brilliant it was). Lets dig in🧵

Tough question: if someone chooses to take their life (or some other sort of unduly harm) due to extreme losses caused by an actor deliberately destroying their investment, can the actor be sued in a court of law for damages?

Giving away 1,000,000 $LUNA to one person who likes and retweets.

Anchor was not a ponzi. There were some genuine sources of yield in Anchor from a) people paying interest when borrowing the UST you deposited and b) the staking yields their collateral generated. The remainder came from the Anchor yield reserve (real funds subsidized by TFL).

Terra eco had 10% of DeFi TVL. It's bigger than 7 largest US banks' total share in global banking. Imagine JPMorgan, BoA, Citi, Wells Fargo, GS, Morgan Stanley...go bust all at once. That's the level of systemic shock we just had. Spillover'll turn out bigger than you realize

The merge is a good thing, but claiming it’s just going to fix ETH short term PA is naïve. The market is well aware it’s coming down the pike, this is lackadaisical shilling. I would never buy anything presented to me like this. (Disclaimer: ETH is my largest bag by far)

Some reflections about my own Anchor Protocol journey:

5 non-obvious lessons from Terra/Luna fallout: for future stablecoin investors, builders & regulators 👇

Did somebody say… interest rate swap markets? @root_fi

Steak fajitas in Manhattan are now $70. I urge Powell to raise 75 bps in June, this is the only way to fix the fajita problem

Wait so Shkreli gets released from prison early, joins ct and immediately fronts a milady. Now he’s at 15k followers and talking in spaces with thousands listening. Basically planting himself in CT. Do I smell a fed?

Can’t wait for the Beanstalk Farms barn raise today. Good thing my skin is always kept hydrated with Farmer Dan 🌱💵’s slapping ointment, will need it when the excessive bean mints start rolling back in. Thanks @LawDumpling !

Just now?