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Satoshi&Co Daily Crypto Newsletter #28

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Satoshi&Co Daily Crypto Newsletter

October 12 · Issue #47 · View online
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Good morning from San Francisco!
Part of your editorial team (Ram) is currently at Blockchain Week in SFO, so Rohit will be mostly pinch hitting solo on the newsletter with support from Divyang.
Wrapping up SF Blockchain week and will have loads to share in a longer post, including some very exciting developments at 0X, Compound, Dfinity etc. A few things that struck me in random order:

  • Visitors to SFO and the Valley are amazed by the sheer density of tech talent and ideas here. Paradoxically folks here are almost blasé about it; yet another MIT/Stanford  whizkid building a really cool protocol? Meh.
  • A startup needs to balance the high cost of moving here (real estate, talent)  against the potential gains of being close to the epicentre of the tech world. Definitely consider doing this if you need to and can make it happen
  • The SFO Blockchain week events were pretty decent. The standard conference format is pretty screwed though. Except for the top star sessions (Antonopoulous league) nobody really gives two hoots about listening to folks that they can catch up with on YouTube or podcasts later. Most folks come for the corridor track or for the private events, some of which have pretty amazing turnouts
Also, Dosa at Filmore is amazing!
Meanwhile in Crypto Wonderland....
“Banking on MAS”
In an interview with Bloomberg, Ravi Menon, Managing Director of Monetary Authority of Singapore said that the regulator would want to reach out to enable Fintech startups to have easier access to the banking system, but that any new help will not be at the cost of loosening regulations to attract fresh startups into Singapore.
“Testimony of Doom”
Yesterday Nouriel “Dr. Doom” Roubini, the outspoken cryptocurrency critic and NYU professor, testified on cryptocurrencies in front of the U.S. Senate. Roubini lashed out with his 37 page report (which he has been advertising quite a bit on Twitter), calling cryptocurrencies “the mother of all scams and (now busted) bubbles” and even called the underlying technology of blockchain “over-hyped” and “nothing better than a glorified spreadsheet”.
“Harvard, Stanford Invest in Crypto”
More Ivy League universities have joined Yale whose endowment fund has been investing in cryptocurrencies and digital assets. Top universities including Harvard, Stanford, MIT and Dartmouth have invested in at least one cryptocurrency focused fund through a small part of their portfolio which focuses on “alternative investments”. These investments include hedge funds and fund of funds.
“UK Regulations Delayed”
Jeff Kaufmann, Legal Director at a top Bristol-based law firm has suggested that regulations regarding cryptocurrencies could take over two years to be implemented as proposals are only now just starting to move along. Calling the process a “difficult and lengthy” one, Kaufmann said that government will need to balance the interests of retail investors while allowing the UK crypto community to thrive.
108 Token NAV Update
Today’s NAV is ~$1.12, up roughly 13% since launch.
You can express your interest in 108 Token Series II here. This will be an open-ended, rolling vehicle.
Also reach out to us if you are a market maker or a liquidity maker that is interested in a conversation around the 108 Token.
Crypto Twitter Pick
Vinny Lingham
In crypto bull markets you should diversify but in bear markets, you should consolidate. In bear markets, this means exposure to fewer coins, with more concentrated risk, but with bigger upside, lower downside over the cycle. #seekingalpha
What We Are Reading / Listening To
Overnight Performance of Top 10 Cryptocurrencies
In addition to this daily newsletter, you can find more stuff to read at our news and research portal, our crypto index token and our upcoming relayer.
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