Bankless ROLLUP: 3AC Further Contagion | dYdX Leaves Ethereum | Huge Uniswap Acquisition
Jun 24, 2022
The hosts dive into the fallout from the Three Arrows Capital crisis, revealing its ongoing impact on the crypto landscape. They discuss dYdX's strategic pivot to a Cosmos-based blockchain, and Uniswap's ambitious new NFT aggregation initiatives. The conversation touches on Bitcoin and Ethereum's price trends, the repercussions of the Ethereum Merge on mining, and the regulatory challenges in CeFi compared to DeFi. Additionally, they explore innovative developments in crypto gaming and the rapidly evolving NFT marketplace.
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3AC Contagion Spreads
- Three Arrows Capital (3AC) contagion continues, impacting Voyager and BlockFi.
- These centralized platforms face insolvency after lending substantial funds to 3AC.
Voyager and BlockFi Bailouts
- Voyager lent $663 million to 3AC, requiring a bailout from Alameda Research.
- BlockFi secured a $250 million loan from FTX due to 3AC exposure.
CeFi vs. DeFi
- Be cautious with centralized finance (CeFi) platforms due to their opacity.
- DeFi offers on-chain transparency, allowing users to track funds.