Welcome back to all new Trader Top 9! As crypto prices flounder alongside jittery global equities markets, the crypto industry wonders what the implications of the FinCEN File leaks are and sees rising interest in DeFi from traditional investors.
9. First up, let’s check in on the MicroStrategy investment. It was big news, but many were suspicious that the firm would simply dump when things got bad. They CEO says “no way.”
8. DeFi has reached the point where folks from traditional finance are poking around. Here’s one of the best known FinTech podcasters and partners at an asset management firm asking about it.
7. Patrick’s question isn’t a bad one. For our money, this is one of the better explanations we’ve seen.
6. Now, in a world of Robinhood day traders and crypto DeFi degens, is it possible that “investing” is the new profession du jour?
5. Some are skeptical… and see the phenomenon as more closely tied to online poker. And does everyone really know what they're doing?
4. Switching gears slightly, one of the biggest bits of news this week was the massive FinCEN Files leak of the suspicious activities banks suspect around money laundering. Many argued that if we’re not blaming USD for this, maybe we don’t want to blame bitcoin for its scams and schemes either?
3. Still, no less a significant voice than Andreas Antonopolous warns that this is likely to make things worse for crypto KYC, not better.
2. Still, through thick and thin, good markets and bad, the bitcoin narrative keeps chugging along, with the macro environment demonstrating over and over again why this asset matters now.
1. And even in a week where the prices haven’t been great, the community is showing that there is still a huge amount of excitement and appetite to build.