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It doesn’t feel right talking crypto like normal today given the invasion, suffering and uncertainty. Still, I’m here to do my job. Like you I’ve been wondering what conflict in Europe might mean for crypto (which seems trivial in some ways at the moment but also more important than ever in others) so today’s newsletter is focused on related things I’ve picked up on.
In this issue:
How crypto Bitcoin reacts to war
How crypto investors react to war
How a crypto executive reacts to war
NITRO! (3 can’t-miss things)
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How crypto reacts to war
I’ve seen a lot of ideas floating around about how crypto will react to war and sanctions. I would have assumed, personally, that crypto would go down. Bitcoin, however, seems to have different ideas right now.
How crypto investors react to war
Nobody who doesn’t hold a government position of power or import really knows what to do or think or say at the moment but I did appreciate hearing what Zeneca_33 had to say in their latest newsletter (I’ve picked a few paragraphs out here):
It’s somewhat shameful to admit but when the news first broke my immediate reaction went to my bags. I checked the price of ETH, I checked the floors of many NFT projects. Call it human instinct to protect and preserve, to survive; or call it greed and selfishness. Perhaps both. I don’t think I am alone — this is a time of great uncertainty to a great many.
So if we don’t, and can’t, know what is going to happen — what should we do?
Take a deep breath. Go for a walk. Hug your loved ones. Eat a tub of ice cream. Run. Scream. Lift some weights. Meditate. Binge watch some TV. Donate to support Ukraine. Keep building. Have a drink. Tend to your garden. Crack jokes. Take another deep breath.
All this to say: life goes on.
Millions of innocent humans have been thrust into the throws of war against their will. This is certainly not the first time this has happened, and sadly, it will not be the last.
Let’s spare a thought or a hundred for our brothers and sisters in Ukraine. Let’s also be easy on ourselves, and show compassion for one another.
Let those of us fortunate enough not to have to worry about a bomb obliterating our homes tonight take a moment to zoom out and appreciate what we have.
How a crypto executive reacts to war
SBF put out a thread with some thoughts on the crypto market and this war. Probably worth picking through for some insights.
NITRO!
News: Crypto could bypass President Biden's 'devastating' sanctions on Russian banks and elites: Report
See you next time (and don’t forget to check out Jasper)!