What We’re Grateful For: Crypto Edition
Appreciating the Silver Lining
What an insane and roller coaster journey crypto has been through this year!
Many people have been understandably hurt with many reasons to forget to be grateful but we wanted to provide you with a few humorous gems to remind you that there’s always a silver lining!
In just the span of a few months we’ve seen:
Luna down
Celsius down
BlockFi down
Voyager down
Three Arrows Capital down
FTX down
Alameda Research down
Next???
So many opportunities to have shorted the market and made money!
In addition to some of the largest entities blowing up, we also saw billions stolen in high profile hacks and exploits from big names such as Crypto.com for $33.7M, Qubit Finance for $80M, Wormhole for $326M, Ronin for $624M, Cashio for $48M, Fei Rari for $80M, Wintermute for $27.6M, Harmony Bridge for $100M, Nomad for $190M, Wintermute again for $160M, Binance Bridge for $570M, Mango Market for $115M, Deribit for $28M and finally FTX for $450M!
All you needed to do was avoid being caught up in the initial damage. Were you able to capitalize on shorting any related ecosystem tokens when these exploits happened? It would’ve been free money! Always gotta look at the silver lining.
Next, have you ever considered the free education that Crypto and Twitter are able to provide you with?
For example, how grateful are you for all the areas in which you could’ve become an expert by participating in Crypto Twitter?
2020: DeFi Summer Degens - Crypto natives got introduced to the art of Ponzis, yield farming, stablecoin games, APY and governance. Basically a finance degree!
2021: Jpeg traders - the opportunity to become a “fine art” connoisseur and appreciate the art. This was the time for you to pick up some sweet JPEGs and make mad bank while you were at it. Hope you didn’t fade!
Jan-Oct 2022: Macrooooers - ahhh. Who can forget the classic free macroeconomics lessons we learned along the way. Everyone on Crypto Twitter practically came out with an economics degree!
Nov 2022: Lawyers - Law school?? Who needs it - everyone on Crypto Twitter saw themselves become a law expert and bankruptcy expert during all the contagion fallout from big firms failing and reading all those legal documents.
Rejoice! The gift of knowledge spreads. Why spend hundreds of thousands of dollars at an elite 4 year university when you could instead simply spend time on Twitter??
This was also a huge year for billionaire philanthropy
Jeff Bezos committed to donating most of his wealth to charity!
Mark Zuckerberg already gave away $85B to the market!
Sam Bankman-Fried donated all his customers' money!
Not enough reasons to be grateful for? How about some lessons and wisdom from OGs? Many long time players recommend just DCAing and HODLing…
Take for example an OG who’s been in Crypto for over 10 years. They routinely automatically spread their holdings over several exchanges to minimize risks and planned to check back in one day in the future. Imagine the surprise they’ll come back to when they check in on their gains!
25% MtGox
25% BTC-E
25% QuadrigaCX
25% FTX
Now, on a serious note, just a reminder that amongst all the crazy bad events that happened this year, Ethereum had an extremely successful merge, builders are actively working to solve problems and decentralization is more vital to our future than ever. If you’re still here during the depths of the bear market and through all the challenges we’ve faced, then you are strong, committed and your patience and faith will one day be rewarded.
Crypto has gone through many turbulent times since its inception, but those who stick around have been rewarded over the long term. The potential that crypto has to revolutionize our financial systems is real and you are an integral part of the story of Crypto.
We’re grateful for the opportunities Crypto has provided us with and we look forward to the next chapter of this epic story.
Happy Thanksgiving, From the Crypto Illuminati
Subscribe to receive our brief daily and extended weekly newsletter along with in-house research content!
Please Share, Leave Feedback, and Follow Us on Twitter, Telegram, and LinkedIn to stay connected with us.