Maker Minds #8 — The collapse of Celsius — The insolvency of Three Arrows Capital
makerminds.substack.com
Hello! 👋 In November 2021, everyone was ecstatic. Hundreds of crypto influencers were predicting a 4th quarter that would see BTC hit $100,000 and ETH hit $10,000. Individuals and institutional investors alike bought into this narrative. It seems all too obvious in hindsight that 20% "risk-free" interest rates, $1 million JPEGs, and X10s are just a manifestation of the greater fool theory.
Maker Minds #8 — The collapse of Celsius — The insolvency of Three Arrows Capital
Maker Minds #8 — The collapse of Celsius …
Maker Minds #8 — The collapse of Celsius — The insolvency of Three Arrows Capital
Hello! 👋 In November 2021, everyone was ecstatic. Hundreds of crypto influencers were predicting a 4th quarter that would see BTC hit $100,000 and ETH hit $10,000. Individuals and institutional investors alike bought into this narrative. It seems all too obvious in hindsight that 20% "risk-free" interest rates, $1 million JPEGs, and X10s are just a manifestation of the greater fool theory.