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- Weekly Rundown - June 4, 2023
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Kaixo!
You pick up your phone. One article says whales are buying like crazy, another says they’re selling like crazy. One tweet shows a bullish fractal. Another tweet shows a bearish fractal.
Bull market? Bear market? Calm before the storm? Flatter for longer?
In this market, what you see depends on where you look.
When you take a broad view of our market conditions today, you’re going to have a tough time finding reasons to worry.
A lot of shoes dropped in 2022. We don’t have many more shoes left! Now, it’s just about keeping an eye on the sources of selling pressure and knowing what to look out for.
In my most recent market update, I gave a “lay of the land” and some updates on metrics and behaviors you need to know about.
Yes, I know, we still have Tether, Binance, and “macro” to worry about. As we have for years, and probably will have for years. Plan accordingly.
Don’t let that psyche you out of (or into) any decisions. Crypto is a marathon masquerading as a sprint. Stay strong!
Scroll down for a poll, job postings, and some content you may enjoy.
Poll: which risk poses the biggest threat to crypto?Force yourself to choose only one! |
Bottom line: Binance wants to let banks custody its biggest users’ assets, rather than hold them SAFU on its platform.
My take: great idea and I’m sure Binance earnestly wants to win the business of large institutional clients, but this seems like a stretch given its scrutiny from the US government, a bad reputation among regulators in many countries, and a general aversion to crypto exchanges among TradFi entities (they’ll dabble directly or not at all, thank you very much!)
Why we care: file this in the back of your mind because it’s one way that Wall Street will do crypto. Somebody else handles the crypto and the funds, Wall Street provides the playground (for a small fee).
If this tweet is correct, it’s another sign we may have finished the mildest bear market (statistically) in crypto’s history.
Dev participation in web3 is down compared to last year. Not as bad as I would have thought if we put a number on it. This has to be the kindest bear market if full-time is only down 6%.
sauce : developerreport.com
— Priyeshu Garg (@priyeshugarg)
8:14 PM • Jun 1, 2023
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Dirt published an interesting take on SBF, but I found the post more interesting for its commentary on culture and belief as they relate to crypto.
So many ideas to unpack, all delivered in a fairly brief, light interview transcript.
For example, the way SBF used “Effective Altruism” to penetrate online communities, the potential of cryptocurrency to create virtual nations, and the tendency of regulators to focus on problems rather than possibilities when assessing emerging technologies.
Read the article if you can!
Future of Web3.0: Unlocking The Next SaaS Wave
Listen to this panel (use 1.5x speed to save time).
I particularly like an idea that one speaker summarizes as “the move from conviction to convenience” in the sense that the crypto industry has reached the point where a lot of effort is going into making this stuff easy for people to use, at the cost of ideological and technological purity.
Jobs Corner
OpenSea | On-Chain Analytics Engineer | Link to position
OKX | Data Analyst - Trading Team | Link to position
Illuvium | QA Web Tester | Link to position
Evmos | Software Engineer, Full Stack | Link to position
Chainflip Labs | Senior Full Stack Engineer for Web3 | Link to position
Paxos | Product Manager – Tokenization | Link to position
LayerZero | Business Development Representative - Defi | Link to position
Chiliz | Twitter Specialist | Link to position
Coinbase | Senior Software Engineer | Link to position
These jobs come from the ToolsForCrypto newsletter.
If you’d like to post a vacancy here (for free), email [email protected]. And, if you’re looking to hire, connect with Recruit Rockstars for 50% off of their normal fee when you use my Recruit Rockstars referral link (I get a small reward when you do).
Relax and enjoy the ride!
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