Market Insights & more.

  • How Centralized Stablecoin pegs actually work – Clearing up misconceptions

    Why is a Tether worth ~1 USD, how are Tethers (or USDC tokens) actually created given few users work directly with them? That’s what I’m hoping to clarify in this piece inspired by one particularly misinformed twitter post. Disclaimer: I have no employment, or business relationship with any stablecoin issuer, nor does any entity I…

  • OPNX Exchange Review – Early Thoughts on Coinflex’s rebooted exchange

    A look at the new OPNX exchange, rebuilding from the ashes of CoinFLEX & 3 arrows capital.

  • Thoughts on FTX 2.0

    As one of FTX 1.0’s first users, my thoughts on a potential restart. FTX died nearly 200 days ago and since almost day 1, one of the suggestions to make creditors whole has been a restart of the exchange, often with a BitFinex style recovery token. In this article I aim to investigate the viability…

  • FTT Whitepaper

    Below I present the unedited original FTT whitepaper. The google doc for this was removed, I’m reposting this as it may be of interest for those wanting to relaunch FTX: Of specific interest, FTT token as originally released was primarily backed by 1/3 FTX revenue. If FTX rising were to double that, they may be…

  • A Look At FTX’s Balance Sheet – Estimating the Real Value of the Assets

    Recently FTX’s balance sheet as of late Thursday night (pre bankruptcy news & pre hack) has been leaked & circulated by the Financial Times. I’ve seen a few journalists produce estimates on the recoverable value of the balance sheet and thought I would try my hands, with some experience in the crypto trading space. I…

  • FTX – The Post Mortem – Part 2: The “Liquidity Crisis”

    In my previous article, I shared my thoughts and early experiences & concerns with the FTX cryptocurrency derivatives exchange. In this post I’m going to take a look at the collapse of Alameda & FTX, show some theories and give my thoughts. The disaster started Monday night when FTX token (FTT) broke the $22 level…

  • FTX – The Post Mortem Part 1 – The History of FTX

    The beginning I have a long history with FTX, I was one of the first customers of the platform (I heard about a few days after launch and was immediately intrigued by the selection of coins, and USD collateral). This was also around the beginning of my Twitter account’s existence, at the time the CEO…

  • The Great Internet Reset

    You will own nothing and be happy, or so the story goes. Many dismiss the great reset as a right wing conspiracy theory, perhaps IRL, but online we’re living in it. The Open Internet The internet has existed as a decentralized network since ARPANET in the 1970s. The first internet communities began on a system…

  • The Kelly Criterion, How I Achieved a 26x Return in 6 months

    Recently I noticed, FTX.com upgraded their equity curve functionality to go all the way back to September 2020, coincidentally around the time I started using the kelly criterion. I posted the chart on twitter and many people said they were interested in learning about the formula behind it. (Pic related), showcases the rapid run up,…