I get we need something positive, but the imaginary China narrative is pretty dumb considering how predatory mainland situation is for crypto founders
There is a on going retroactive witch hunt, ie ICO founders from the 2017-18 will be harassed even if they already quit the… twitter.com/i/web/status/1…
the underlying motivation for many cases is less abt "regulatory suppression" is more about economic exploitation, typical case during bad time surveillance state abuse its law enforcement power to overstep in private sectors, confiscate asset, fine the riches
I don’t like the term “bio hack” as it makes us think there is magical quick fix in achieving bio vitality
but in reality most of us are not even getting the basic right: good sleep, food, mood and moves
1/
The most effective approach to “hack” our bio is simply back to a more primitive form of life. I.e if you go camping for a week, you naturally fix your circadian clock
Our biological evolution is so lagging behind technological evolution and change of life style. Modern urban… twitter.com/i/web/status/1…
So simply plan the day following the sun angle: enough sun exposure and activities in the day, dim the indoor light in the night, stop accessing artificial light after 10pm
Will be on the panel of Cefi vs Defi in the afternoon as the only Defi rep😅
HK is largely a Cefi hub as the gateway for China so not everything is "politically right " on the stage
I posted what's really on my mind about this topic here, with HK context
A thread -
1/ At the macro level, most countries (except China and Russia and a few handful others ) in the world have no monetary sovereignty, including HK here unfortunately. HKD is a synthetic US dollar. The slow rug from the Fed has been extremely costly for HK to maintain the peg
2/ duration mismatch has rekt the commercial banks, the synthetic peg will rekt central banks
similar to "don't fight the fed" and for years traders have been "don't fight the HKMA" as it ALWAYS pegs at all cost, with help from sugar daddy PBOC
Aftermath of #SVB on Chinese outflow and Singapore inflow
1/ My private bankers in SG said they have seen massive Chinese wealth outflow from US after SVB crisis into Singapore
SVB is not just a Sandhill VC bank but also bank to offshore GPs and Chinese tech firm under VIE
2/ just anecdotally one of my Chinese tech investment (a series B company) had $10m in SVB
It’s a bank to global tech money and HNW tech persons
Most Chinese HNW post 2000 (age between 35-60) are made under tech, who used to considered US bank as ironclad not anymore
3/Chinese wealthy can’t trust both Chinese and American financial systems, Singapore is making the real killing in between (western common laws and market structure+ eastern doctrines) and has become 1st choice for capital out flow
last year I ask @jerallaire their repo experience and how it's time to stress test it. They are well aware of all risks and should have rehearsed the liquidity ops for an extreme situation like this ...
I believe Circle and the team will go through this and might have to raise an equity cushion (or bridge loan) to buy time while FDIC process their uninsured claims
this should be an easy ie to collateralize their bond interest for the raise
after all these this will accelerate related stablecoin policy making hopefully, to eventually get Circle a full Fed account just like Alipay
and if that's the case, using USDC will be like a quasi CBDC and Circle will become the digital reserve bank sit on top of Fed
now it's the WORST time to unwind or swap USDC, USDC holders and Defi vault operator with USDC don't panic
1. the actual loss of Circle's 3.3B deposits will likely take ~25% haircut so <1B, which can be primarily covered by its 2022 income from $32.B short-term T-bill yield imo
2. Coinbase publicly said will resume redemption on Monday, even if you don't have CB account, there will be on-going arb as long as the redemption is there. So the onchain exchange USDC will be relatively peggish as long as redemption is open