Yesterday’s post on passive investing and the 108 Token was mostly well received, but as expected, a couple of folks came out swinging, completely trashing the idea of an index. One BTC whale (at least a dolphin, at any rate) wrote in – “I bought BTC back in 2013 and if I had indexed across the top 15 then I would not have had these returns”. Most criticisms were variations of this same theme, basically “I know what I am buying because I was a genius because I bought BTC in 2013”. Our very simple counters to these are as follows:
“WSJ Coin” In an attempt to understand the crypto world better, Wall Street Journal created its own cryptocurrency called WSJ Coin with the help of a Japanese developer. Only two units of the coin were issued and when the prospects of issuing the coins to a larger audience were discussed, WSJ’s ethics head vetoed against the idea on ethical grounds. The coin was promptly shut down later.
“Argentina’s Crypto ATMs” Cryptocurrency automated teller machines (ATMs) are a huge growth market in Latin America with companies such as Athena Bitcoin and Odyssey Group looking to tap into the region’s increasing use of cryptocurrencies in an environment clouded by persistently high inflation. Odyssey itself has plans to install 150 ATMs in Argentina while Athena has already had success with 12 machines installed in Colombia and is now expanding in Argentina.
“Poloniex Aligning with US Regulations” Poloniex, a crypto exchange set up in 2014 and owned by Circle (Goldman Sachs-backed), has decided to take steps to better align its operations with probable regulatory requirements. The firm, which used to allow customers to short sell cryptocurrency products and lend to earn interest will now “remove margin and lending products for US-based customers”.
“Gemini Gets Insured’ Gemini Trust, the cryptocurrency exchange and custodian company founded by the Winklevoss twins has secured insurance coverage for digital assets. The insurance package was secured from a syndicate of top insurers led by Aon.
Today’s NAV is ~$1.26, up roughly 29% since launch.
You can express your interest in 108 Token Series II here. This will be an open-ended, rolling vehicle.
Also reach out to us if you are a market maker or a liquidity maker that is interested in a conversation around the 108 Token.
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