In 2017, my business partner Ron Dixon talked me into buying crypto for the first time.
In the past 6 years, we have:
- built a crypto education business dedicated to financial professionals
- built a crypto YT channel with 11k+ subscribers
- and much more!
This is my story of
On the bright side, pretty big name to be in crypto custody, and one the SEC might not take aim at.
However, seems we're set up for NASDAQ, Fidelity, and BNY Mellon to be the main crypto custodians in the US.
Meet the new boss...same as the old boss
@EricBalchunas
ETF investors aren't trading. They're not degens. They expect the volatility, and in for the long term benefit.
When they're investing 1-5%, the short term downturns also have a minimal effect on overall portfolio.
@Timccopeland
That doesn't make sense.
People that have been holding BTC are choosing to move from owning that actual asset to owning a fund?
Something was lost in translation
@mcuban
25 years ago that comment would have been a letter to the editor of the local newspaper asking:
Other than gambling, porn, and selling pez dispensers, what's the utility of the internet?
Someone working on "knowledge governance" should know better.
Car Title and Blockchain!
The DMV has tokenized car titles on the
@avax
blockchain
What does this mean?
It means better tracking, no more outdated databases, and new opportunities for buying/selling cars, lending, and more!
With car titles on-chain, the CA DMV doesn't need
It's March 2020.
Bitcoin is trading below $6,000.
ETH below $100.
NFTs sales are non-existent.
DAOs are not popular yet.
What would you get into first?
The podcast between
@APompliano
and
@mattysino
was straight 🔥
They talk about so many interesting things:
- Solana
- FTX
- SBF
- China + India
As an advisor, a few things struck me about Matty's investment thesis🧵
Another round of funding for a crypto-custody company. It's
@CaitlinLong_
Avanti Financial Group. Caitlin has been a pioneer in the crypto space and what she's doing for digital assets-based banking is amazing.
@Blockworks_
article by
@LizBitCoyne
Today is my grandfather’s 100th bday
Flew 36 missions in Europe in WW2. Received flying cross
Met the Queen
Received a promotion from Jimmy Stewart
Married to my grandmother for 67 years
Still tells dirty jokes and wins at poker.
Ultimate role model
Trying to plan my day tomorrow
Is there a certain time we expect to hear from the SEC?
Can I slot it in mid-morning so I have time to have my coffee, and have the rest of the day to scroll?
@EricBalchunas
@JSeyff
@NateGeraci
Got home from
#mcon2021
last night. Best conference I’ve ever attended. Not hyperbole to say the people at that conference are going to have a bigger positive impact on the world than any group I can think of.
If anyone wants to start building DAOs there are a lot of resources on the internet
But very few experiences of success and failure
In this 🧵 we list down all our experiences of building not one BUT two DAOs
👇
@ErikVoorhees
Bitcoin is more aligned with the original ideas of America.
The dollar is more aligned with the current 'Murica. Backed by guns and private bank accounts
And the time has come!
Looking forward to joining the CoinDesk team at
#Consensus2021
, May 24-27!
Join us as we discuss the crypto’s mainstream adoption through NFTs, ETFs, central bank digital currencies, and more.
Register:
@xlampsx
@Timccopeland
Now I see that line in a comment after the initial post. I made the mistake of not reading every comment in the post.
Thank you for using your twitter anonymity to make a snide remark instead of kindly calling my fault out.
Real world assets and credit are now being digitized and integrated into DeFi protocols, transforming traditional finance as we know it
The power of pooled funds is creating unprecedented array of borrowing opportunities.
@maplefinance
@goldfinch_fi
@Jason
@POTUS
@SecYellen
Tomorrow morning, depositors will get up to their $250k FDIC insured amount.
Plus 50% of additional deposits
The rest is 3-6 months but they will get 100%.
Those that need more than the 50% above $250k can easily get a loan against the guarantee
Where's the crisis?
An exciting announcement from Interaxis:
Interaxis and CPE World, two digital asset education companies, are merging to form a comprehensive platform to teach financial advisors and accountants how to incorporate cryptocurrencies into their practices.
Minted an NFT with a pic of my daughter on
@DefiNft
. Put the equivalent of her piggy bank money + tooth fairy money into $OHM and staked it, and put the $sOHM into the NFT, and locked it for a year.
@OlympusDAO
Once a year when we count her piggy bank, we'll do it again.
Interesting question from a large group of CPAs yesterday:
The banking system has been around for hundreds of years. Why do we think we should replace it with DeFi now?
👇👇
In 2021, we helped 100+ financial advisors get started with digital assets and DeFi!
From understanding Bitcoin basics to client conversations.
In 2022, the goal is to reach 1,000 advisors and grow the
@PlannerDAO
community!
Looking forward to
@MessariCrypto
#Mainnet2022
next week.
I get to deliver a talk called "An RIA Walks into a DAO" in which I'll discuss
@PlannerDAO
.
We're bringing education, compliance, technology, and incentives to financial services.
Just finished this great podcast with
@CamiRusso
for
@DefiantNews
, with
@thattallguy
.
Always interesting to hear about Social Tokens,
#DAO
's, etc.
Thinking more in terms of wealth creation than income.
To all the
#DeFi
projects. Some of you are looking for funding, or users. It might help to have a video to explain it in simple terms.
We can create a 15-25 minute whiteboard video of your project. Payable in crypto - 1 ETH.
DM for requests.
This is how finance should work! No regulation needed here.
Transparent books
Quick responses
Excellent risk management
Thank you,
@M11Credit
and
@maplefinance
1/ After reconciling and validating information on exposure to FTX and FTT from borrowers across our pools on
@maplefinance
we want to share the following insights.
In summary: No loans to Alameda, limited FTX exposure and robust overall health of the loan book. A thread:
Advisors in 2017: This Bitcoin thing is a bubble, stay away.
Advisors in 2020: DeFi isn’t going to change anything.
Advisors in 2021: These NFTs are just jpegs, save your money.
Advisors in 2022: I really need to start learning about Bitcoin, DeFi, and NFTs.
@CoinDesk
@sndr_krisztian
I see a future where TradFi and DeFi are working together, and I believe Coinbase could play a big role.
Whether that is custodying Bitcoin for ETF companies, or tokenizing assets for institutions on the blockchain.
Late last year,
@RasterlyRock
of
@BitwiseInvest
listed 10 predictions for digital assets for 2024.
One of them was that bitcoin will hit an all time high again, driven by ETFs, halving, etc.
Looks pretty accurate so far.
Sitting here with my grandfather on his 98th birthday. He was a navigator in WW2. He’s telling us about shooting dice and playing poker with Jimmy Stewart, who was his supervisor, and had him promoted. Had no idea until today.
@twobitidiot
Several months ago I asked about DCG’s solvency, mainly because they were funding
@circle
yield. Your response was “if DCG goes down, we all died already.”
There has plenty of negative around crypto for a few weeks, mainly in the CeFi realm.
Hopefully this spurs actual adoption of the tech, rather than investment-only "adoption"
Here are some important projects I want to highlight:
👇👇
@camiinthisthang
Different
Last one there were no use cases, no DeFi, and it was very speculative
This feels a bit more painful because the networks are more legit.
However, full confidence in the tech. The bear is for prices, not uses.
Keep building
People often say “DeFi will change the way banking works.”
But how exactly will this happen?
How will wallets allocate for retirement savings versus children’s allowance and will this be better than the current financial system?
Here I try to run this thought experiment:
Need to just appreciate the
@EtherealSummit
over the last couple days. Incredibly well done. That is how virtual summits should be done. Congrats to
@DeFi_Dad
and the team.
@RyanSAdams
- High demand for blockspace on the network.
- ETH turning deflationary.
- Big institutions like JP Morgan using Ethereum to tokenize assets.
Ethereum's investment theses has everything lining up for it.
Such an honor to be a guest writer for
@BanklessHQ
. We’ve been a subscriber since the beginning. Thanks
@RyanSAdams
and
@DeFi_Dad
for holding us up. As financial advisors we see the benefit in
#DeFi
for the unbanked, and everyone. Look at it as investment. Stay safe.
What do financial advisors think about DeFi?
Most don't know it exists.
It's too out there. Too scary.
But I found one Financial Planner that's down with DeFi
Adam from
@Interaxis8
shares how to Invest in DeFi like a Financial Planner
Read:
On May 30, 2024, we will be organizing a private FA/RIA Day at Consensus with
@CoinDesk
.
This will be your chance to:
👉 Learn the nuances of the most important topics in the digital assets space, such as financial security, tokenization, and risk management.
👉 Network with
New week - more Real World Assets
DAOs cannot invest in treasuries because they aren't corporations.
Protocols like
@maplefinance
and
@OndoFinance
are buying treasuries with USDC.
1/ Today we are excited to release a comprehensive, 55-page review of the CFP curriculum through the lens of cryptoassets.
The report is available for all Academy members and can be accessed here
***Financial advisors***
Go buy some crypto (can be USDC or DAI)
Move it to a wallet (not part of an exchange)
That's it
This isn't financial advice
This is career advice
Imagine someone in 1994 saying "Why are you sending an email when you can write a letter?"
That's exactly what it feels like when someone says, "Why do you want to send money through crypto when you can use the bank?"
There's no easy place to start learning about crypto.
So, bookmark this thread because we're covering starting educational docs you'll need when you're entering the world of Bitcoin and DeFi
We'll constantly keep adding to these with new findings!
Here are some of my favorites
Part of the benefit of
#DeFi
is that it unlocks value we were previously unable to utilize. It also makes the process more efficient to find and realize value.
This isn't entirely new, but moving fast.
Some examples 👇👇👇
Really great op-ed from
@indexcoop
This is a key time to not only distinguish the difference between CeFi and DeFi for those outside, but to look inward and make sure we're abiding by the ethos we portray.
We must make it clear that the failures of FTX are not just unlikely to afflict true DeFi, but that they would be impossible under the immutable, decentralized, transparent and permissionless nature of DeFi
This is why we do what we do!
I've been receiving calls, text, emails, DMs...all asking if I'm done in crypto now.
Too many scams, hacks, schemes, liquidations, bad actors, good people making bad claims, etc.
Times like this are WHY WE ARE EDUCATING ADVISORS! 👇👇
@morganhousel
Was talking about that with a neighbor. There are some GameStop cashiers that are ready to retire on their stock option gains now.
"You said my video game infatuation wouldn't pay, Dad!...Scoreboard!!"
Can't say enough how impressed I am with how far
@CamiRusso
has brought
@DefiantNews
. I subscribed when it first launched, and
#DeFi
was barely started. Now interviewing billionaires and bringing them to our world. Congrats!!
Excited for this. We have known
@sidbpowell
and
@maplefinance
for some time, and thrilled the protocol is launching.
Congrats to the Maple Finance team.
We are proud to announce the upcoming mainnet launch of the Maple protocol and the details of the Liquidity Mining program🥞
Maple's decentralized corporate debt marketplace will grant crypto-native companies access to on-chain growth capital🚀
Financial advisors, I'm guessing you have clients asking about crypto by now
Understanding if and how to help clients allocate will be important
This is a conversation you may need to have soon
If you’re not sure about these conversations, the
@consensus2024
FA/RIA Day is the
Hope everyone can find someone who will do a 2-day trip to NYC in August to see a play with you.
There’s also a few cocktails, some fantastic food and shopping thrown in.
This is definitely the dumbest bank run and crisis ever.
SVB seemed to have plenty of liquidity to sustain normal business, and didn't take on anything overly risky. We're not in a war or some other "crisis" requiring everyone to have cash.
It seems a few people got spooked
I'm done arguing - on social media or otherwise - with those that are vehemently anti-Crypto, anti-DeFi, anti-Web3.
I'll just keep teaching more people about how it works and why it can be important. If you have legit questions, ask. If you're trying to pick a fight, I'm out
Financial Advisors! Your favorite word - FREE!
Consensus 2024, the world's largest crypto conference, is taking place in May in Austin, TX, produced by
@CoinDesk
.
And you can attend for FREE!
First, why would a financial advisor attend a crypto conference?
You know your
Our next Community Call will feature Adam Blumberg, CFP (
@Interaxis8
), co-founder of PlannerDAO/CDAA. We'll chat about how financial advisors view crypto, & ETH staking in particular.
Plus there's a big bi-weekly update to cover!
👇Join the Twitter Space @ 1am UTC on 26 April
The best part of this crypto bear market is the insane amount of building going on, both on-chain and off. The price of the assets is largely irrelevant at this point. The value in the underlying systems is the important part.
@Matt_Hougan
I don't think anyone knows how to value Coinbase?
Just looking at transaction and custodial fees is short sighted.
How do you value an Ethereum L2, coupled with on/off ramps and custody? How do you value a tokenization platform being piloted in UAE?
@HHorsley
Interestingly, the data centers that are essentially bitcoin mining facilities are also going to house computers processing AI and graphics rendering.
Bitcoin mining pushed the ability to profitably house data centers anywhere.
Please forgive me, but today will be a more personal post. Today is Veteran's Day, and something pretty special happened last night.
There are less than 120,000 WW2 vets still living in the US, and my grandfather is one of them. I posted about him in August when he turned 100.
So everyone has seen that Andreessen Horowitz
@a16z
has closed their latest Crypto Fund with $515 million.
If any protocols, Dapps, DeFi, etc. would like a whiteboard video to help with adoption or fundraising, DM us.
Early last year I bought $SNX for $0.30. Had it locked this whole time. When I met
@mediodelphi
in San Fran he told that was amazing price and it will fly up. Good call.
@CampbellJAustin
@EleanorTerrett
@BradSherman
Brought to you by the team that continues to allow stock trading by those that make the laws.
I guess its ok to be the ultimate insider traders as long as they pay their taxes.
The Bitcoin for Advisors conference from
@CoinDesk
is underway!
@TR401
and
@APompliano
kicking it off right!
If this is something you're fired up about, we can teach you a bit more:
On-chain structured products are an underrated area of DeFi asset management.
What are on-chain structured products?
On-chain structured products are somewhat like funds (e.g. mutual funds or ETFs), but using crypto assets on the blockchain.
The investment portfolio is created
A wallet worth the wait. Beta testing is now live for 10K customers from the waitlist, with
@0xPolygon
as the first blockchain supported.
You could be next:
Was at a 6 year old bday party tonight, talking to the other dads. They were all asking me if I think crypto is even going to make it since it’s been down lately. I forget how few people are as immersed as we are.
The ABSOLUTE FUCKING AUDACITY of the US government to try to disconnect a new technology and industry from the banking system is appalling.
Of all countries...the one that almost 250 years ago fought the incumbent system because they thought there was a better...