The 2022 crypto selloff exposed the incompetence and hubris in many traditional crypto companies. For example, Celsius had a $1.2bn balance sheet hole on client assets of $4.7bn by the time it filed for bankruptcy. Listed Canadian company Voyager had to declare bankruptcy because it provided a loan of $674m with zero collateral. Other companies […]
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Pension Fund Announces Crypto Investment
The Houston Firefighters’ Pension Fund announced crypto investment last week to become the first US institution to disclose an allocation to digital assets. While there has been speculation of institutional investor participation, the $25m investment in bitcoin and ether by the $5.5bn asset fund, is the first official announcement. Could this event lead to the […]
Social Security Insolvency is Looming
Dispatch #29 – 2021 September 10th, 2021 Looming Social Security insolvency, highlighted in the 2021 Trustees Report, is the lead story this week. The retirement Trust Fund (called old-age insurance) is set to run out in 2033 and the Medicare Trust Fund will be empty even earlier in 2026. How’s that for just around the […]
Ray Dalio owns Bitcoin & China mining crackdown
Dispatch #17 -2021 May 28th, 2021 The Dispatch spent this past week listening to insightful speakers and panels at the Consensus 2021 conference. It was at Consensus that Ray Dalio declared “I have some of it,” while articulating a preference for Bitcoin over the US Dollar or bonds. The event was also a good example […]
Multiple Bitcoin ETFs, Visa & Paypal start crypto payments, Bitcoin for transactions & salary, digital yuan
Dispatch #10 -2021 April 9th, 2021 A slew of Bitcoin ETF filings with the SEC takes top billing in Dispatch 10. The filers are industry powerhouses like Fidelity Investments, Goldman Sachs, Van Eck and Wisdom Tree. Bitcoin also continues to make subtle progress as a medium of exchange. Examples are Tesla accepting Bitcoin for car […]