Happy Wednesday Crawlie friends,
Here are some highlights from the past few days regarding Coinbase, DCG, Layer Zero, and more. WAGMI 💪🏻
Coinbase will be laying off 950 employees for its restructuring plan. "We also saw the fallout from unscrupulous actors in the industry, and there could still be further contagion," Coinbase CEO Brian Armstrong said in a blog post on Tuesday. Coinbase said its latest cuts were part of a plan to reduce costs by 25 percent this quarter. COIN 0.00%↑
Reuters Business@ReutersBiz
WATCH: Coinbase said it will reduce its workforce by about 950 employees as part of a restructuring plan, in a third round of layoffs for the cryptocurrency exchange since last year reut.rs/3X3AQlq
5:15 PM · Jan 10, 2023
10 Reposts · 16 Likes
L2BEATS, a service that gathers research information across all L2s, questioned the security model of Layer Zero, an Omnichain interoperability protocol that has gained traction. L2BEATS stated that Layer Zero uses an isolated security model, where each app defines its own security and can potentially change it whenever it sees fit.
DeFI Saint 🦇🔊@TheDeFISaint
If it's too good to be true, then it probably is Is this the end of an era for Layer Zero's Future or the Beginning?? Want to find out what happened between @l2beat and @LayerZero_Labs A 🧵
12:55 PM · Jan 10, 2023
6 Reposts · 44 Likes
Liquid Staking Derivatives (LSDs) are the hot new thing in crypto right now. With Liquid Staking, investors receive liquid staking derivatives in exchange for staking their assets, which represents their claim on the given stake pool and its yield. With LSDs already surging, we need to find the next upcoming trends.
Thor shares some potential narratives for 2023 that you should look into:
zk-EVM's (& zk-rollups)
Decentralized Options in DeFi
Stablecoins
Real Yield
AI
Thor Hartvigsen@ThorHartvigsen
Liquid Staking Derivatives (LSD's) are exploding: $LDO +114% $RPL +89% $SWISE +128% $FIS +74% $SD + 165% Feeling FOMO? Don't buy the top of this narrative. Instead, identify upcoming trends ✅ Here are 5 defi categories that could take off in a similar way in early 2023👇🧵
5:03 PM · Jan 9, 2023
20 Reposts · 99 Likes
DCG CEO, Barry Silbert, wrote a letter to the shareholders on Jan. 10, reflecting on the state of the crypto market and the growing fear but refused to address the accusations by Cameron Winklevoss that came just before his letter was released. Winklevoss stated that Barry was unfit to run the company and accused him of defrauding customers and hiding behind lawyers. Genesis reportedly owes Gemini $900 million.
Barry Silbert@BarrySilbert
I’ve been reflecting quite a bit about the past year, the state of the industry and where things go from here. Here is an update to address those reflections, other developments and some speculation about @DCGco (1/10)
dcgupdate.com
Home - DCG Letter to Shareholders
7:14 PM · Jan 10, 2023
310 Reposts · 1.16K Likes
OpenSea: $9.2M
Ethereum: $4.1M
Lido Finance: $2.4M
Ethereum Name Service: $1.4M
Maker DAO: $912.1K
MoonHoldings: Web3 portfolio management and intelligence
Conveyor Finance: A DeFi trading protocol that leverages aggregation, automation, and MEV to give traders the edge they need
Stream Finance: An automated vault-style system that buys 4-week treasuries, allowing everyone to cash out and share transfer costs.
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