Do Kwon breaks silence after Terra Collapse
1/ The collapse took Do Kwon completely by surprise: "I didn't think this would happen."
— Miles Deutscher (@milesdeutscher) August 15, 2022
"I haven't found the words to describe what it feels like."
"Obviously, like in hindsight, a lot of the beliefs and conjectures I had made, were wrong."
2/ When asked about Anchor Protocol's sustainability:
— Miles Deutscher (@milesdeutscher) August 15, 2022
"Just to set the record straight, the internal consensus of what people wanted to do with the interest rate was several thousand percent APR."
"I felt like every day, $UST was getting stronger than the previous day."
3/ Do elaborated on his choice to utilise $BTC as the reserve currency:
— Miles Deutscher (@milesdeutscher) August 15, 2022
"If we were optimising for economic stability, we probably would've built up a reserve in stablecoins."
"I believed too strongly in #Bitcoin, I honestly didn't believe it would fall this much."
4/ Do ran us through the infamous weekend of the $UST collapse:
— Miles Deutscher (@milesdeutscher) August 15, 2022
"The sentiment on Twitter started to get worse.. and the amount of sell pressure we were seeing started to get worse and worse."
5/ "We started to put together a $2b round in the the middle of the night, and the news leaked.
— Miles Deutscher (@milesdeutscher) August 15, 2022
"We started to see massive shorts pile up against $LUNA, so the value of the tokens we were ready to sell – basically got decimated."
"For like 8 days I don't think I slept at all."
6/ When asked whether he regretted some of the overconfident language he used prior to the collapse, Do replied:
— Miles Deutscher (@milesdeutscher) August 15, 2022
"I developed an entertaining alter ego."
"In retrospect, if you were to ask me whether the manner in which some of the comments were conveyed were cringe – yes."
7/ Do's confidence noticeably increased as $UST and $LUNA grew in strength.
— Miles Deutscher (@milesdeutscher) August 15, 2022
"If you've had a series of wins, and you get to that scale, then you almost don't think you can fail."
8/ Zack inquired about Do's nonchalant tone during the interview: "You actually kind of seemed alright with it."
— Miles Deutscher (@milesdeutscher) August 15, 2022
Do: "You cannot be emotional about markets. You can't blame people for shorting. You can't call people idiots for longing."
9/ And to clear up any rumours as to whether Do benefitted from the collapse: "I've never shorted a cryptocurrency in my life, let alone $UST."
— Miles Deutscher (@milesdeutscher) August 15, 2022
Starting your crypto journey
Stop thinking and read this thread if you plan to start a #crypto journey. We have compiled all the most necessary information in one place.#cryptocurrecy #thread #bitcoin #1000x pic.twitter.com/jU84RhkGXJ
— Crypto Gambler 🎲💰 (@pepe_de_niro) August 15, 2022
1/ Learn to manage your emotions and control them
— Crypto Gambler 🎲💰 (@pepe_de_niro) August 15, 2022
As humans, we are emotional beings. We can get caught up in fear, which often leads to wrong investment decisions. We need to learn to manage this fear and practice positive decision-making!
2/ Stop trading all the time!
— Crypto Gambler 🎲💰 (@pepe_de_niro) August 15, 2022
Take your time. Let the markets come to you. Don't trade every day of the year, especially if you are frustrated with losing trade; that's when your emotions will be against you, and you will lose even more.
3/ Diversify your income, so you'll be able to retire with certainty!
— Crypto Gambler 🎲💰 (@pepe_de_niro) August 15, 2022
In the market, there are no guarantees. Expect the unexpected, and you'll never be disappointed. The best way to protect against loss is to have other alternatives.
4/ Defi is your friend
— Crypto Gambler 🎲💰 (@pepe_de_niro) August 15, 2022
Staking/Farming is the best way to earn free tokens. This is a passive income opportunity for everyone who holds tokens. You need to make an effort to keep them stacked!
5/ Security first
— Crypto Gambler 🎲💰 (@pepe_de_niro) August 15, 2022
Technically, you can use any wallet. However, to avoid losing your assets to ensure the safety of your funds, we recommend using a hardware wallet (like @Ledger for beginners ) or multi-sig smart contract (@gnosisSafe )
6/ Always have cash: Fiat and/or Stablecoin,
— Crypto Gambler 🎲💰 (@pepe_de_niro) August 15, 2022
There will ALWAYS be new opportunities, but those are only useful to those ready to take them.
7/ Diversify your source of information & DYOR
— Crypto Gambler 🎲💰 (@pepe_de_niro) August 15, 2022
Don't FOMO! Do your research, check audits, read smart contracts, talk with the team, and check utility,…
Crypto week recap
Happy new week, Breet Gang!
— Breet (@breetapp) August 15, 2022
When a Monday rolls in, Breet rolls out a fresh list of what went down in the #Crypto world last week; ready to dig in?
It’s a #Thread pic.twitter.com/UweNLDnpLu
Our big boy #Bitcoin rose over $24,000 before falling slightly, while Ethereum continued to trade around $1,900. There’s definitely good reasons to keep holding these two! pic.twitter.com/VjNO76DWK4
— Breet (@breetapp) August 15, 2022
Binance recovered $450 worth of Crypto that was stolen after Curve Finance was attacked. Hackers weren’t playing sha, but thankfully, neither were they! 🙌🏻 pic.twitter.com/8OFaidh8dm
— Breet (@breetapp) August 15, 2022
On more #Ethereum news; the Merge has been scheduled for September 15th/16th, and this news has not only boosted Ethereum’s price performance, but even Ethereum Classic’s! 💪🏻 pic.twitter.com/FgcCMCop3c
— Breet (@breetapp) August 15, 2022
Hotbit suspended all Crypto trading activities (yes, including withdrawals 🥲) after its funds were frozen for alleged misconduct – smells like trouble 👀 pic.twitter.com/Tr4ilVMe7l
— Breet (@breetapp) August 15, 2022
Meanwhile, Real Madrid and Barcelona made some big moves by submitting a joint application for a #Crypto and a Metaverse trademark; definitely some cool stuff coming! 🕺🏼 pic.twitter.com/bUFOAV5wUB
— Breet (@breetapp) August 15, 2022
Coca-Cola shared some happiness last week 🥳 — for their first year in NFT, they gave away generative and shareable collectibles to customers for International Friendship Day! pic.twitter.com/uhMDdS7ENT
— Breet (@breetapp) August 15, 2022
It was a rough week for Tornado Cash as they received sanctions from the U.S. Treasury Department, had their developer arrested and lost about half of their market valuation — yikes! 🌚 pic.twitter.com/o000dztn7M
— Breet (@breetapp) August 15, 2022
Robinhood CEO announced that the company’s Web3 #cryptocurrency wallet had over 1 million customers on its waitlist already 👏🏻 pic.twitter.com/xxwG9EZSWb
— Breet (@breetapp) August 15, 2022
Also, Samsung Electronics is getting ready to launch an #NFT ecosystem and have signed a memorandum of understanding (MoU) with six companies. Exciting times indeed! pic.twitter.com/5mo0aHramq
— Breet (@breetapp) August 15, 2022
