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5 Minute Crypto - Galois rebirth? Shapella stats-ella; Sweden hike hurts miners; Buffett & Jobs
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Howdy everyone — this is the 5 minute crypto daily update for the weekend of April 15th and 16th
What’s going on in crypto land…
Galois capital founder Kevin Zhou may be starting a new fund
https://blockworks.co/news/sources-say-galois-head-finalizing-next-move-zhou-says-not-currently
5 days since Ethereum’s Shapella upgrade went live which enabled staked ETH withdrawals
https://blockworks.co/news/ethereum-validators-withdraw-620m-eth
Sweden is ending tax incentives for data centers in July, which will be a big hit to bitcoin miners
In 2017, Sweden enacted a 98% tax cut for data centers, looking to attract businesses. Four years later, the industry hasn't created the jobs the country was hoping for, and the macroeconomic environment has changed, said the budget report.
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Crypto twitter is talking about…
Fantastic thread on Warren Buffett interview
https://twitter.com/bkaellner/status/1646687105865728000?s=46
“We’re not through with bank failures. But we’re through the depositor, depositors haven’t had a crisis. The owners of banks may have lost a hell of a lotta money.”
Steve Jobs sent himself an email note from his iPad
https://twitter.com/chrishlad/status/1646690659384819714?s=46
I speak a language I did not invent or refine…I did not discover the mathematics I use… I did not invent the transistor, the microprocessor, object oriented programming, or most of the technology I work with. I love and admire my species, living and dead, and am totally dependent on them for my life and well being
Thread on commercial real estate from Ming Zhao
https://twitter.com/FabiusMercurius/status/1639658480532594691?lang=en
CRE debt investors today are HIGHLY CONCENTRATED.
10% of banks have larger unrecognized losses than those at SVB
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Some recommended reads…
Ribbonfarm article from Sarah Perry on conspiracy theories:
I have argued that conspiracy theories (and I would extend this to even the kind of silly sociological theories highlighted by @RealPeerReview on twitter) can have aesthetic value, are sources of creative engagement, and can even be epistemically beneficial. But they are clearly not the height of human achievement. They are, ideally, playgrounds, or perhaps stepping stones to the creation of new, interesting, /true/ theories about reality
https://www.ribbonfarm.com/2016/10/06/the-art-of-the-conspiracy-theory/
Pirate Wires piece from the inimitable Nic Carter on crypto banking seizures:
https://www.piratewires.com/p/2023-banking-crisis
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That’s it for today! That was 5:30 minutes. All the links are in the show notes. You can follow @twodegenspod on Twitter and please subscribe for more daily updates! I’ll try to do ‘em every day except when it’s rainy and I’m feeling extra sad
Outro clips from Bankless (Tim Beiko) and Swan Signal (Tuur Demeester)
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