Tether Money Printer Go Brrrrr, Plus when Elon Coin?

Tether Money Printer Go Brrrrr, Plus when Elon Coin?

Join Alex Tapscott and Andrew Young as they decode the world of DeFi and Web3. Listen in as they discuss Tether’s 2023 Attestation Report, GoDaddy’s partnership with Ethereum Name Service to bridge domain names with crypto wallets, FTX’s desire to sell 8% Anthropic stake as part of its liquidation process to help make customers “whole,” Farcaster’s frenzy of activity following its frames launch last, the prospect of Twitter as a Web3 protocol, and more!

In 2023, USDT stablecoin issuer Tether generated a $6.2 billion profit, reached an all-time high coverage of cash and equivalents to issued tokens at 90%, and grew its $1.45 billion venture capital portfolio with Bitcoin mining, AI infrastructure, and peer-to-peer telecommunication investments. GoDaddy and Ethereum Name Service (ENS) announced a strategic partnership to enable users to connect domain names with Ethereum addresses; GoDaddy’s 22 million customers will have the ability to send and receive crypto payments across hundreds of decentralized applications. The FTX estate has resurfaced plans to liquidate its 8% stake in AI startup Anthropic which carries a reported current value of $1.4 billion; Sam Bankman-Fried purchased this for $500 million in October 2021. Self-described as a protocol for building sufficiently decentralized social networks, Farcaster has taken the crypto community by storm, with DAUs growing by nearly 1,000% to over 25,000 individuals following its launch of integrated mini-applications, “frames,” on January 26.

Tune in to the 132nd DeFi Decoded episode to hear Alex and Andrew discuss all things DeFi and Web3. How much money did Tether make last year, and what was their largest revenue stream? What is Farcaster? Could this be Web3 social’s big moment? If X was a decentralized protocol, how would it be different?

TIMESTAMPS

[0:00] Intro
[1:16] Tether’s 2023 Attestation Report
[14:17] ENS & GoDaddy Partnership
[18:01] FTX Reflection & Anthropic Stake
[23:26] Farcaster Frenzy
[26:21] Twitter as a Web3 Protocol
[32:19] Conclusion

ABOUT DEFI DECODED PODCAST

Alex Tapscott, Andrew Young and guests break down the fundamentals of Decentralized Finance (DeFi) and how this cutting-edge technology enables individuals and institutions to transact, and create value, without the need for traditional financial intermediaries.

The opinions, estimates and projections contained within this recording are solely those of Ninepoint Partners and are subject to change without notice. Ninepoint makes every effort to ensure that the information has been derived from sources believed to be reliable and accurate. However, Ninepoint assumes no responsibility for any losses or damages,  whether direct or indirect, which arise out of the use of this information. These views are not to be considered investment advice nor should they be considered a recommendation to buy or sell. Investment funds are not guaranteed, their values change frequently and past performance may not be repeated. Important information about the Ninepoint Partners Funds, including investment objectives and strategies, purchase options, and applicable management fees, and other charges and expenses, is contained in their respective prospectus, or offering memorandum. Please read these documents carefully before investing. We strongly recommend that you consult your investment advisor for a comprehensive review of your personal financial situation before undertaking any investment strategy. For more information visit ninepoint.com/legal. This report may not be reproduced, distributed, or published without the written consent of Ninepoint Partners LP.

Part of Ninepoint Digital Partner’s DeFi Decoded Podcast Series. Available at Google, Apple, and Spotify Podcasts.