Highly EPIC! Recommended Watch: CeFi Crypto Contagion Is Just Getting Started, Says Analyst Who Predicted FTX's Fall
(youtube.com)
James Block, author at Dirty Bubble Media, joins Jack to explain the knock-on effects of the demise of the crypto exchange FTX.
James is an amateur crypto researcher who saw in FTX and Alameda Research what many crypto professionals missed: hidden leverage, inflated assets, and in some cases, outright fraud.
He now shares his view on potential contagion to Gemini, Genesis, Digital Currency Group (DCG), BlockFi, and other firms in the crypto ecosystem.
James’ writings at Dirty Bubble Media can be found here: https://dirtybubblemedia.substack.com/
James’ piece on Alameda Research: https://dirtybubblemedia.substack.com...
James’ piece on Digital Currency Group (DCG): https://dirtybubblemedia.substack.com...
__
Follow James on Twitter https://twitter.com/MikeBurgersburg
Follow Jack Farley on Twitter https://rb.gy/uesguv
Follow Forward Guidance on Twitter https://rb.gy/cy0dki
Follow Blockworks on Twitter https://rb.gy/igyzsj
___
This episode is sponsored by Curve. Curve is unlike any other credit card. It gives you the power to connect multiple credit and debit cards into one, convert your cashback into crypto rewards, Go Back in Time ®, create Smart Rules, and more. Apply now through https://link.curve.com/forward_guidance, you’ll earn $20 in Curve Cash after your first transaction. So sign up today! Terms and conditions apply.
__
Get top market insights and the latest in crypto news. Subscribe to Blockworks Daily Newsletter:
https://rb.gy/5weeyw
Market commentary, charts, degen trade ideas, governance updates, token performance, can’t-miss-tweets and more. Subscribe to the Blockworks Research “Daily Debrief” Newsletter: https://rb.gy/feusos
__
Timestamps:
00:00 Intro
00:45 "Is Alameda Research Insolvent?"
03:02 Red Flags With Alameda & Celsius
12:35 Binance
15:01 Crypto Contagion
19:13 Curve Ad
20:16 Digital Currency Group (DCG) and Genesis
35:16 Where Did Crypto Yield Come From?
40:00 Was The $8 Billion Ever At FTX To Begin With?
45:11 What's The Next Shoe To Drop?
__
Disclaimer: Nothing discussed on Forward Guidance should be considered as investment advice. Please always do your own research & speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.
James is an amateur crypto researcher who saw in FTX and Alameda Research what many crypto professionals missed: hidden leverage, inflated assets, and in some cases, outright fraud.
He now shares his view on potential contagion to Gemini, Genesis, Digital Currency Group (DCG), BlockFi, and other firms in the crypto ecosystem.
James’ writings at Dirty Bubble Media can be found here: https://dirtybubblemedia.substack.com/
James’ piece on Alameda Research: https://dirtybubblemedia.substack.com...
James’ piece on Digital Currency Group (DCG): https://dirtybubblemedia.substack.com...
__
Follow James on Twitter https://twitter.com/MikeBurgersburg
Follow Jack Farley on Twitter https://rb.gy/uesguv
Follow Forward Guidance on Twitter https://rb.gy/cy0dki
Follow Blockworks on Twitter https://rb.gy/igyzsj
___
This episode is sponsored by Curve. Curve is unlike any other credit card. It gives you the power to connect multiple credit and debit cards into one, convert your cashback into crypto rewards, Go Back in Time ®, create Smart Rules, and more. Apply now through https://link.curve.com/forward_guidance, you’ll earn $20 in Curve Cash after your first transaction. So sign up today! Terms and conditions apply.
__
Get top market insights and the latest in crypto news. Subscribe to Blockworks Daily Newsletter:
https://rb.gy/5weeyw
Market commentary, charts, degen trade ideas, governance updates, token performance, can’t-miss-tweets and more. Subscribe to the Blockworks Research “Daily Debrief” Newsletter: https://rb.gy/feusos
__
Timestamps:
00:00 Intro
00:45 "Is Alameda Research Insolvent?"
03:02 Red Flags With Alameda & Celsius
12:35 Binance
15:01 Crypto Contagion
19:13 Curve Ad
20:16 Digital Currency Group (DCG) and Genesis
35:16 Where Did Crypto Yield Come From?
40:00 Was The $8 Billion Ever At FTX To Begin With?
45:11 What's The Next Shoe To Drop?
__
Disclaimer: Nothing discussed on Forward Guidance should be considered as investment advice. Please always do your own research & speak to a financial advisor before thinking about, thinking about putting your money into these crazy markets.
-
- 1
Francisco Gimeno - BC Analyst Outstanding interview. Basically, telling us that crypto believers have been blinded by the "faith" in crypto and development of exchanges and growth that practically nobody thought that fraud, mismanagement and just fake balance sheets have been around a lot in crypto platforms and exchanges, causing this disaster, and helped by the lack of regulations and investors' protection. Well, our eyes are widely open now, even more after hearing just this very evening about BlockFi also going into bankruptcy and all the names talked about here being at the brink of also failing or at least being in danger of failing like Gemini, Genesis, Digital Currency Group (DCG) and others. Experts will tell us that the fraud and mismanagement are copied from malpractices from tradicional finances and not from crypto itself, but the reality is the damage to crypto, showing so many tokens just worth zero is huge. Which by the way, looking at the big picture, may help to transform and disrupt what it was born as the disruption to tradicional finance, the crypto (coins and tokens) ecosystem by creating a regulated healthier market without empty projects and useless tokens.