Impact of SilverGate bankruptcy / Bankman-Freed’s stupidity pretending to be a genius[10 carefully selected books you want to read on Sunday]| coindesk JAPAN | Coindesk Japan

Many of Silvergate’s historical financial figures show the bank may have peaked in 2021 before a string of turmoil rocked the crypto industry in 2022, published this week. Carefully select 10 books you want to read on Sunday from the columns and interviews.

Before Silvergate, After Silvergate—What impact will bankruptcy concerns have on the industry?

Financial industry media American Banker reported in January that two crypto-friendly banks, Silvergate and Signature, have borrowed heavily from the Federal Home Loan Bank (FHLB). . FHLB is a government-supported institution that supports banks that handle housing loans.

For some insiders in the cryptocurrency industry, this was heartbreaking news. …read more

Silvergate, the rise and fall of the cryptocurrency business

Silvergate lost more than $8 billion in deposits in the last few months of 2022 alone. This comes at a time when the bank’s core business is in a slump due to the turmoil in the cryptocurrency industry. Bank regulators, including the Federal Reserve, have warned of such liquidity risks.

The sudden loss of its deposit base was just one of several concerns for Silvergate. …read more

Mr. Bankman-Fried pretending to be a genius reveals how stupid he is

I have a question that has been haunting me about Mr. Sam Bankman-Fried and his crew. what were they aiming for?

Given the staggering scale of their wrongdoing, how did Mr. Bankman-Fried and his accomplices think they would escape the pursuit of wrongdoing while preserving their own freedom and dignity? Huh? …read more

When you grow up ─ we asked a traditional finance expert what is necessary for the future of crypto assets

The future of crypto assets (virtual currencies) depends on investors in traditional finance (TradFi). I’m not talking about banks or asset managers, but rather investors entrusted with the long-term, continuous management of large funds, such as pension funds, endowments, foundations, and large family offices. Money from these institutional investors is needed for crypto assets to reach their transformative potential.

We spoke to 15 investors to understand how they think about crypto assets. …read more

The future of the cryptocurrency market is driven by expansion in Asia

As tensions rise between the United States and China, political experts are watching diplomacy, but a quiet battle is about to begin on financial regulation. Local for now, but nothing in the global market can stay local for long. Its impact goes far beyond the crypto-asset market and, in the current changing climate, may result in an unprecedented geopolitical economic clout. …read more

What is the real value hidden in a lame developer event? A true community that ETHDenver embodies

ETHDenver, perhaps the most important event for developers working on smart contracts and DeFi (decentralized finance) on the Ethereum blockchain, ended last week. I wanted to participate, but I was exhausted after four grueling months of public misconduct.

Thankfully, many people uploaded videos of the event, so I was able to enjoy it as if I was there. Unfortunately, however, many of the posts expressed something of an innocent bewilderment and cynicism towards ETHDenver, which is generally considered to be lame. …read more

Code vs. Values: The “Twist” of Crypto Assets over Trust

The term “trustless” is often used in crypto-assets. But many people are confused about its meaning. It’s an ambiguous word that can have multiple meanings depending on the context.

“Sugarless” means “no sugar”, so “trustless” should mean “no trust”. But isn’t a lack of trust a bad thing? …read more

Bitcoin Mining Benefits Power and the Environment

The US Senate Committee on Environment and Public Works will hold hearings on digital assets and the environment this week. The hearing will be focused almost exclusively on the Bitcoin (BTC) proof-of-work (PoW) mining process.

Simply put, Bitcoin miners use computers to keep the Bitcoin network secure and process transactions. In return, miners receive bitcoins as a reward. …read more

Forgot password NFT wallet, would you like to donate to the museum?

A nightmare for NFT collectors. In April 2021, Web3 influencer Farokh Samad forgot the seed phrase (password) of a wallet that held 87 NFTs, including the highly prized “Bored Ape Yacht Club” NFT. It’s gone.

The value of the NFTs held was about 250 Ethereum (about $ 850,000, about 116 million yen) at the time, but it became practically worthless. Without the seed phrase, you cannot access your wallet and you cannot sell your NFTs. …read more

Points for domestic corporations to promote Web3 business: HashHub Research

The buzzword “Web3” has attracted attention, and various companies are considering entering businesses that apply blockchain technology. We also receive consultations from companies in categories such as finance, games, IP content, and consulting, and we are accumulating knowledge on common issues and how they were resolved. From that experience, I will explain the points of failure and success when dealing with blockchain as a new business within a company. …read more

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