With the recent failure of FTX, it’s important to discuss how to make it impossible for centralized exchanges (CEX) to steal funds from its customers. To regulate or decentralize, that is the question. (Historical moments like these warrant a Shakesprean touch.) While some say “regulate” and some say “decentralize”, yet…

Our client Trakx announced a strategic partnership with Green Crypto Research, an independent non-profit organization based in Switzerland. Using the ranking system developed by Green Crypto Research, they created The Trakx ESG Index. It gives exposure to the protocols focusing on “strong environmental, social and governance practices in crypto”. The…

Ethereum on proof-of-work (PoW) is denoted ETHPoW. Ethereum on proof-of-stake (PoS) is denoted ETHPoS or ETH2. Vetle Lunde at Arcane published the article ETHPoW and ETH2: The story of miners vs. social consensus and trading opportunities. Let me address the story of miners vs. social consensus first, and then the…

Ethereum is about to merge. Its consensus mechanism is about to change from proof-of-work to proof-of-stake. This is a huge moment in the history of crypto and public blockchains — books will be written about it. Books have already been written about it. I will cover three topics related to…

​Multicoin Capital published a valuation of the Hubi token (HT) where they found that it was undervalued. The underpricing was partly due to “information asymmetries that exist between the East and the West” — the authors cited efforts toward increased transparency as a key factor for future price appreciation of…

Charles Morris ByteTree Asset Management put together a chart book for BOLD. I had a casual video meeting with Charlie where we explained these charts. The recording is published on the Vinter Podcast. In this post, I will show you my favorite BOLD graphs from this book. The financial…

This post is meant to convince you that BOLD is a liquid inflation hedge. Inflation: food, fuel and housing Why would you want a hedge against inflation? The average person cares deeply about the prices of fuel and food. Even though every central bank tries to hoodwink the populace into believing that fuel and food…

Kitesurfing is dangerous. If I fail the jump in this video, it will hurt. I will hit the rocks and bleed. The tide is low, and my teacher told me to jump only when the tide is high and covers the rocks. …

Marc Powers, a Vinter shareholder and advisor, writes a few words quarterly on the Vinter newsletter. Here is what Professor Powers had to say about LUNA. From the collapse earlier this month of the Terraform Labs UST and LUNA tokens, there is a growing understanding that stablecoins provide a false…