For all the exciting price action, not everything is pointing in a positive direction. These market moves don’t seem to reflect new market participants, for example, and, anecdotally, times remain tough for projects trying to fundraise.
Crypto tokens weren’t the only thing that saw a major pump yesterday. The total value locked in DeFi ascended to new heights. While part of this can be explained simply by the rise in ETH price, it also reflected traders turning to DeFi platforms as a way to get more exposure to the market action without selling their core assets.
In our final segment, we look at a blockchain conference in North Korea that the UN suggests simply attending may violate international sanctions, and an Iran-focused hedge fund that uses cryptocurrency to get around international restrictions.
Does this variety of «rogue state» activity present a narrative risk to the crypto industry as a whole? Listen to find out.
Why Warren Buffett’s Bearishness Should End V-Shaped Recovery Talk
NLW unpacks a meaningful shift as the famously optimistic Warren Buffett struck a more sober note at Berkshire Hathaway’s first-ever virtual annual meeting.
One month after the bankruptcy of Lehman Brothers in 2008, Warren Buffett of Berkshire Hathway wrote an op-ed saying he was buying stocks. Yet, during the coronavirus crisis he is sitting firmly on the sidelines.
On Saturday night, the “Oracle of Omaha” spoke for 4.5 hours in the first virtual Berkshire Hathaway annual shareholders meeting — an event some have called the “Woodstock of Capitalism.”
On this episode, NLW examines some of the key topics of the presentation, including:
It was hard not to watch the presentation without concluding Buffett thinks there are simply too many unknowns in the world going forward to feel comfortable doing much in the market right now.
When the Going Gets Weird, CoinDesk Readers Look for These Safe Havens
Our financial times are getting weird, so we asked you, CoinDesk readers, where you saw the safest port in the storm. Your answers?Out of over 8,200 votes, cryptocurrency beat out gold by over 50 percentage points while treasuries got a meager 3.6 percent of the vote. An expected result for a group of die-hard crypto fans.
The write-in votes were interesting, as well. Calling us out for not mentioning bitcoin (BTC) was a big favorite.
While others were waxed philosophical, noting the real financial markets were the friends we met along the way:
Still others advised calm. After all, when you don’t know what to do, do nothing.
Yours truly, however, felt there were far better ways to spend your cash. I have a Chef Robuchon in stained condition that I hope to one day trade for a used Camry.
