Roundup: BlockFi Down Round | DAOs Scrambling | Cynthia Lummis Bill | FTX vs Coinbase

Empire

In this episode of Empire's Weekly Roundup, Jason and Mike discuss the current state of crypto. It's officially a bear market, so how are companies and DAOs responding? What are the stories that you need to know? Tune in to find out.

Highlights include:

• Did companies overhire
• What happens in a down round
• Why we need to separate investors from traders
• DAOs look to stables and the need for debt financing
• The Coinbase vs FTX strategy debate
• Is the Lummis bill good for crypto
• Enterprise blockchains are back
• Optimism loses 20M OP tokens
• ApeCoin DAO sides with Ethereum

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Referenced in the show:

BlockFi down round

https://tinyurl.com/2tej9jyf

Novogratz says 2/3 of crypto funds will fail

https://tinyurl.com/yh4x2jsu

Lido, FEI and Frax proposals

https://research.lido.fi/t/lido-to-prepare-for-the-bear-market/2318/5

https://tribe.fei.money/t/tip-110-simplify-pcv/4323

https://gov.frax.finance/t/fip-77-20m-fxs-buyback-program-using-twamm/1523

SBF on Empire

https://tinyurl.com/23wp5uza

SBF on Invest Like The Best

https://tinyurl.com/2p8wsdfe

FTX surpasses Coinbase in BTC & ETH spot trading

https://coinmetrics.substack.com/p/state-of-the-network-issue-158?s=r

Coinbase job portal

https://coda.io/@coinbase-talent/coinbase-talent-hub/

Richard Burton article on how crypto is like building hardware

https://tinyurl.com/ytww6ap7

Tim Beiko on Bankless

https://tinyurl.com/2vxmcdux

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Timestamps

(00:00) Introduction

(02:45) Down Rounds, Layoffs and Hiring Freezes

(16:40) An Investor Reckoning?

(18:20) Separating Investors vs Traders

(20:05) Frothy Private Markets

(23:50) DAO Treasuries and Debt Financing

(27:53) Questioning Token Buybacks

(32:30) Bitmex Ad

(33:33) FTX Surpassing Coinbase

(40:15) Cynthia Lummis Bill

(45:15) Are Tokens Securities?

(48:21) Salesforce and Enterprise Blockchains

(56:15) Optimism loses $20M OP tokens

(59:45) APE DAO votes on Ethereum

(1:03:40) When ETH merge

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Disclaimer: Nothing said on Empire is a recommendation to buy or sell securities or tokens. This podcast is for informational purposes only, and any views expressed by anyone on the show are solely our opinions, not financial advice. Santiago, Jason, and our guests may hold positions in the companies, funds, or projects discussed.