The Milk Road Show

Are You Over Allocated to L1s & Under Allocated to Apps? w/ Avichal

10 snips
Feb 21, 2025
Guest
Avichal Garg
Avichal Garg, co-founder of Electric Capital and former tech leader at Facebook and Google, dives into the buzzing world of cryptocurrencies. He addresses the potential oversaturation of Layer 1 protocols and emphasizes the critical role that applications built on them play. Avichal discusses recent hacks in decentralized finance and the repercussions for market structures. He also highlights the need for informed investment strategies, urging listeners to prioritize learning over chasing quick wealth.
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ANECDOTE

Bybit Hack

  • Bybit lost $1.4B from an ETH cold wallet hack, impacting the market.
  • Hackers bypassed centralized exchanges, using DEXs and avoiding centralized stablecoins.
INSIGHT

Improved Crypto Regulation

  • Crypto regulation has significantly improved in the last 30 days, with positive progress in the US.
  • The SEC lawsuit against Coinbase being dismissed marks a major win for the industry.
ANECDOTE

Meme Coin Impact

  • Retail investors focus on meme coins, leading to negativity and noise in the crypto space.
  • Solana is negatively impacted by recent meme coin activity.
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