Animal Spirits Podcast Looking Back at the Crypto Meltdown
Jul 30, 2022
An intriguing update on the crypto market reveals the fallout from recent meltdowns and shifting dynamics in fundraising. The decline of institutional trust is scrutinized, highlighting major failures at Celsius and their impact on Bitcoin prices. Delving into the Bitcoin lending landscape, risks of fraud emerge alongside legitimate yield practices. Transparency in over-collateralized lending and evolving customer engagement in decentralized finance are emphasized. Finally, the current turbulence in cryptocurrency is explored, with discussions on risk management and the cautious hiring trends in the sector.
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Meow's Successful Fundraising
- Despite a challenging fundraising environment, Meow secured funding from Tiger Global.
- Their focus on fundamentals and revenue, rather than hype, proved crucial.
Meow's Bridge to Crypto Yields
- Meow helps corporate treasuries and high-net-worth individuals access crypto market yields.
- Users deposit dollars, choose a yield source, and earn potential returns.
Early Warning Signs of Crypto Trouble
- Celsius pausing withdrawals was an early sign of trouble in the crypto market.
- Rumors about 3AC's insolvency spread, causing Bitcoin's price to crash.