December Digital Asset Look Ahead - Valkyrie

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December Digital Asset Look Ahead

Mere weeks ago, "why is crypto so boring" headlines dominated the mainstream media narrative as volatility declined significantly and the wild days of the bull market were far behind us. Little did many know, the previously hailed "Crypto JP Morgan," Sam Bankman-Fried (SBF), had been deeply embroiled in years-long (potentially criminal) activity of commingling FTX customer assets with his hedge fund Alameda, and filling the balance sheet holes with illiquid coins spun up for nothing other than self-serving pump-and-dump schemes. Part of FTX and Alameda’s downfall were ultimately related to the interconnectedness of the mass deleveraging event of Terra & UST in May, as well as actually not being the smartest people in the room in relation to trading strategies in the digital asset ecosystem.