Long Reads Sunday #44. We’ve got the latest Tether FUD hot off the presses, investor accreditation debates, Ethereum competition, and some bullish news in what is undeniably a shifting market sentiment. Buckle up, it’s Long Reads time! https://twitter.com/tonysheng/status/1121436468734386176
6/ One person who has been paying attention to the windy Tether story for some time is @hasufl. In this 2 minute LRS Takeaway video, he breaks down the news and argues that this shows the clear interest from US authorities in bringing crypto trading into their regulatory regime.
7/ A16Z’S @katie_haun also frames the news in terms of what it suggests about US regulators. For her, a takeaway is that even when a company is domiciled elsewhere that won’t immunize it against regulatory action if it serves US customers. https://twitter.com/katie_haun/status/1121934215405170688
12/ Circle’s @riabhutoria shares some of the Q1 report highlights in this LRS Takeaway. Interesting themes: 1) Rise of DeFi loans, w/ $18m in @TheRealBlockFi deposits & @Dharma_HQ facilitating $6m in loans; 2) Increase in traditional VC into crypto, incl $63m to crypto data companies.
18/ In this LRS Takeaway, @ImranKhan sums up the three key risks for Binance Chain/Binance DEX: 1. Early control of chain might make tokens more likely to be labeled securities 2. Composability and systemic risk 3. Counter party issues
20/ Another adoption story us that, as first reported by @nathanielpopper, E*Trade is purportedly getting ready to offer crypto trading on its platform. For those keeping track, TD Ameritrade has 11m+ clients/users wit E*Trade representing another 5m+ https://twitter.com/MoonOverlord/status/1122198019972136960
23/ To the extent that the bottom *is* in, it’s worth revisiting what happened in the last bull market and contextualizing where we are in the development of the industry. @nic__carter argues that we’re roughly in 1997 in internet terms based on # of users worldwide https://twitter.com/woonomic/status/1120399815383425025
28/ Lastly, for fun, let’s leave on a question: do accredited investor laws need to change? Many have argued that part of the ICO boom was pent up risk demand from retail investors blocked out by accreditation. @RyanSAdams kicked off a conversation https://twitter.com/ricburton/status/1122511273072234498
30/ And there we have it, another LRS in the books. Let me know what I missed and thanks as always for reading. Sign up to get LRS via email here: https://www.getrevue.co/profile/nlw