Chapter
The Risks of Off-Chain Trading
05:31 - 17:06 (11:35)
Off-chain trading of tokens, particularly on exchanges that are already insolvent, poses a significant risk to the Bitcoin market and those who invest in it. The collateral damage that is caused by the failure of one token or platform can potentially be widespread and affect the entire market.
Clips
Since 2018, people have been trading phantom equity in companies that issue tokens off-chain, leading to an overall increase in prices.
05:31 - 13:12 (07:40)
Summary
Since 2018, people have been trading phantom equity in companies that issue tokens off-chain, leading to an overall increase in prices. However, when certain tokens fail and vanish, the brokers may not have the Bitcoin to repay the lender, leading to insolvency in some cases.
ChapterThe Risks of Off-Chain Trading
EpisodeE85: SBF's crypto bailout, Zendesk sells for ~$10B, buyout targets, US diplomacy, AlphaFold & more
PodcastAll-In with Chamath, Jason, Sacks & Friedberg
Ted Cruz believes that the Californian billionaire’s tax hike proposal to raise taxes on high-income earners is a stupid idea that could worsen the state’s financial situation and drive people out of the state.
13:12 - 17:06 (03:54)
Summary
Ted Cruz believes that the Californian billionaire’s tax hike proposal to raise taxes on high-income earners is a stupid idea that could worsen the state’s financial situation and drive people out of the state. He also states that the funding of the proposal by a billionaire who resides in the Bahamas to curate influence is concerning.