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Despite its best efforts to the contrary, Robinhood did end up stealing from the rich and giving to the poor.Melvin Capital, the $8 billion hedge fund that didn’t find GameStop (GME) funny, lost 53% of its portfolio in January ($7 billion) trying to short against the rallying cries of the
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Innovation requires a super-charged combinatorial hub, an environment where hyper-competition filters for the best ideas and allows them to proliferate. When we say best, we mean the most fit for their context, likely to sustain into future generations and outcompete from a multi game-theoretical or evolutionary perspective.One common analogy is
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Over the last 12 years, $1 trillion of value has appreciated into existence. It may be a little more or a little less tomorrow, give a few $100 billion. It may one day reach $10 trillion or $100 trillion or stay at $1 trillion forever. It may even go to
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As decentralized finance sees its first mergers and acquisitions, we’re left with a big question: How do you value an open-source project in a very new field like DeFi? The whole thing is fascinating, almost a contradiction! An analysis of the issues can help us sharpen a toolkit for understanding value
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Over the last several weeks, crypto asset prices have climbed to new heights. Bitcoin alone has broken the $300 billion market capitalization barrier, equivalent to the M1 money supply of a number of countries – from Poland, to Belgium or Austria. We can point to multiple underlying causes, including the
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Lex Sokolin, a CryptoX columnist, is Global Fintech co-head at ConsenSys, a Brooklyn, N.Y.-based blockchain software company. The following is adapted from his Fintech Blueprint newsletter. Everything seems to be getting connected: finance, culture, art, technology, media, geopolitics. It is either a fantastic time to be working in our industry or we are
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Lex Sokolin, a CryptoX columnist, is Global Fintech co-head at ConsenSys, a Brooklyn, N.Y.-based blockchain software company. The following is adapted from his Fintech Blueprint newsletter. We have a beautiful Ethereum garden. In it, we grow cash equivalents called stablecoins powering applications that run on open source programmable blockchains. It promises to be
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