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On today's issue:
Maker's revenue
Japan's markets
FTX to pay 12b
This issue is brought to you by Tokenpad:
Tokenpad generates an earnings report for each asset you hold, across your crypto wallets.
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Maker's revenue machine
In July, Maker was the app that generated most revenue in crypto, mostly through it's holdings of RWAs.
The next is Aerodrome, a dex not was widely known before, that resurrected after it gained market leadership on Base. Uniswap, you took too long.
Then is Ethena, the creator of the yield bearing stablecoin, Lido for staking, and Uniswap for trading.
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What is happening in Japan
On Monday, the market turned down bad, specially in Japan.
The Japan central bank hiked it's rates from 0.1% to 0.25%, which crashed its market by 2%+, and has recovered a bit.
In turn, crypto markets crashed 20%+, but are now back up. BTC reached 50k, but it's now back up to 60k.
This could foreshadow a longer movement in the markets, as the Fed stated that it might start hiking it's rates by September.
Like Buffet said: "Interest rates are to asset prices what gravity is to the apple. When there are low interest rates, there is a very low gravitational pull on asset prices."
In other words, as interest rates go up, the gravity increases, so apples fall harder.
FTX to pay 12b
FTX and Alameda have a ban on digital assets, and will pay back 12b to creditors. After 18 months, the debacle came to an end, way faster than more complex cases like Mt Gox.
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Disclosure: All content published is for informational purposes only, and does not constitute any sort of financial advice.
