Bankless ROLLUP: Voyager Bankrupt | Solana Phone | ENS Domains | Facebook NFTs | Reddit NFTs | EU Crypto Regulation
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Jul 8, 2022 Delve into the aftermath of Voyager's bankruptcy and the lessons learned for crypto investors. Explore the growing significance of .eth domains and the competition between stablecoins like USDC and Tether. Discover innovations like Solana's Android phone and Facebook's NFT ambitions, alongside insights on EU crypto regulations. The podcast navigates the contrasts between decentralized and traditional finance, reflecting on the resilience of DeFi amid market turmoil. Engage with the evolving landscape of privacy and opportunities in cryptocurrency.
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USDC vs. Tether
- USDC is on track to surpass Tether as the leading stablecoin, driven by regulatory concerns and growing transparency.
- USDC's market cap has grown since May, while Tether's has declined.
Voyager Bankruptcy
- Voyager Digital, a publicly traded crypto bank, filed for bankruptcy after revealing large, uncollateralized loans to Three Arrows Capital.
- Despite assuring customers of its low-risk approach and strong financial position, Voyager's exposure to 3AC led to its downfall.
CeFi Lender Risks
- Be cautious of CeFi lenders, as their marketing can be misleading, and their risk management practices may be inadequate.
- Voyager's bankruptcy highlights the importance of due diligence and skepticism.