Matthew Howells-Barby (@mhbxyz) • Hey
Creating value for the people, products, and services shaping the next phase of growth in web3.
Host @ Decrypting Crypto Podcast.
Prev: CMO @ Decentral G
Publications
- Doing my best to be absolutely insufferable in my WhatsApp groups with non-crypto friends.
- 🚀🚀🚀🚀
- Market is making bets that ETH will push past $ 4k by July (suggesting more confidence in an ETH ETF approval rally).
Worth keeping an eye on the open interest here over the coming weeks.
- 🔮Prediction: EigenLayer’s token will breach the top 10 by market cap by EOY ‘24.
- Ethereum Dencun upgrade looking like it will hit mainnet in late Feb/early March. Going to be a huge boost for L2 rollups.
This plus all the work on modular DA solutions is going to be a huge leap forward for Ethereum.
Long live the Blob.
- The current struggle to get testnet BTC is super bullish for the future Bitcoin DeFi/L2 wave that’s coming.
- Wait… I thought drug traffickers only used bitcoin to launder money????
- Which protocol that hasn’t launched yet are you most excited about?
- Decentralized social graph protocol, @LensProtocol, introduced its parallel scaling solution, Momoka, with the objective of decreasing transaction cost and increasing stability.
With just over a month of results, Momoka now handles 25-50% of total Lens transactions. https://t.co/hH9BvdzPYQ
- 🚀 Life Update: delighted to finally be able to share that I’ve joined Kraken as their VP, Growth.
Doubling down on my conviction in the crypto space and joining a team of A+ talent to fight the good fight.
Couldn’t be more excited!
- This week’s episode of the Decrypting Crypto Podcast is out now. We do a deep dive into all the recent SEC drama to give you a TL;DR on what’s happening and how it’s impacting crypto.
https://open.spotify.com/episode/0CMTlFUA37ZVQd2a6VHZHW
- Novo Nordisk sold just under $10bn of Ozempic last year, and is forecasting growth up to $12.5bn this year.
Meanwhile, Weight Watchers lost 22% of their subscribers in 2022.
- Inflation figures in the UK are now more than double those in the US (and higher than EU).
MoM core inflation actually increased in April…
Govt bond yields now hitting the highs of the Liz Truss implosion last year.
Good times 🇬🇧☠️☠️☠️
- Spotify: Listen
Sound: Listen + own
- Today's episode of the Decrypting Crypto Podcast is live. We discuss:
🤔 Has Ledger just blown up its reputation?
🏦 Steady lads... Tether is buying Bitcoin.
🎮 Axie Infinity's app is approved by Apple in the App Store.
https://open.spotify.com/episode/5m6EL1vVyqTYTrJjIYorLi?si=imW4wocdT9eD-EDcPrdmZA&nd=1
- Live scenes from Tether HQ 💀
- CryptoUK, a trade body based in the United Kingdom, argued that a much more nuanced and tailored approach needs to be taken into consideration.
[Kraken, UK trade body derides lawmaker description of crypto as 'gambling'](https://cointelegraph.com/news/kraken-uk-trade-body-slam-treasury-crypto-as-gambling)
CryptoUK, a trade body based in the United Kingdom, argued that a much more nuanced and tailored approach needs to be taken into consideration.
- ❌ No, #Ethereum did NOT break last week. However, it repeatedly failed to finalize transactions. What does this mean? And should users worry about it happening again?
Samuel Haig dives into these questions and much more in our latest article.
Check it out ⤵️
https://thedefiant.io/ethereum-researchers-remain-mystified-after-blockchain-briefly-fails-to-finalize
- Very significant news in the world of web3 gaming.
Apple allowing Axie Infinity Origins to be listed on the App Store (albeit in LatAm & Asia to begin with) should help pave the way for other crypto-integrated games to do the same.
[Axie Infinity Game Launches on Apple App Store In Key Markets](https://www.coindesk.com/web3/2023/05/17/axie-infinity-game-launches-on-apple-app-store-in-key-markets/)
The card-based strategy game Axie Infinity: Origins will open access to Apple users across Latin America and Asia as it continues its global expansion.
- HOW TO PREPARE FOR EIGENLAYER TESTNET ⚡️
This could be one of the next big trends.
Eigenlayer: A protocol on Ethereum to "re-stake" your ETH.
How does it work and is there a potential big airdrop?
🧵👇
1/7
What is EigenLayer?
EigenLayer enables ETH stakers to restake their ETH or LSD (stETH, rETH) to secure other apps on the network, earning additional rewards.
Users opt-in Eigen's smart contracts and stake to earn interest on top of the existing ETH POS interest.
2/7
How does EigenLayer work?
You can refer to my thread from January to learn more about the technical aspects, if you wanted to:
https://twitter.com/OlimpioCrypto/status/1610013658125328384
3/7
Status of EigenLayer
The initial phase of the three-stage launch plan for EigenLayer's protocol, the Stage 1 Testnet, was unveiled by the company on the 6th of April, 2023.
This testnet is not incentivized. But you can try it now! 👀
4/7
STEPS TO START: (this is in Goerli Testnet)
1. Get Goerli ETH on faucetlink.to/goerli or faucet.paradigm.xyz
2. Switch your wallet RPC to the Goerli Test Network
3. Send some Goerli Test ETH to this address 0x1643E812aE58766192Cf7D2Cf9567dF2C37e9B7F to get stETH
5/7
STEPS CONTINUED:
4. Visit goerli.eigenlayer.xyz and connect your wallet
5. Click the “Lido Staked Ether (stETH)” option
6. Enter the amount you want to deposit and stake the stETH you just received
6/7
7. Approve and confirm the transaction
8. See your balance on the dashboard.
7/7
POSSIBLE AIRDROP?
• Not likely, for now.
• They have not confirmed any airdrop.
• Testnet is not incentivized.
However, it usually is a good idea to be an early adopter in the crypto space. It might pay off! 🪂
Moreover, this is a testnet, so no capital is needed.
⚡️
- Huw Pill, Chief Economist for the BoE, saying that everyone in the UK should just “accept that they’re worse off” and to stop seeking higher wages and cut back spending is beyond offensive.
Runaway inflation is not the British public’s cross to bear, it’s the Central Bank & Gov.
[The chief economist for the Bank of England tells British people to 'accept that they're worse off' with inflation and warns them to stop driving prices up](https://fortune.com/2023/04/25/bank-of-england-chief-economist-inflation-accept-worse-off-british/)
He said that firms and workers are in a “pass the parcel game” that’s causing more persistent price pressures, contributing to the UK’s main inflation rate remaining stuck in double digits.
- met the POAP boss in Lisbon
- This week's @decryptopodcast episode is out. We cover the following stories:
🟠 The explosion of BRC-20 tokens on Bitcoin
😬 Binance pausing BTC withdrawals
🐸 Is memecoin mani over?
💀 Bittrex files for bankruptcy
Listen now 🎧👇
https://open.spotify.com/episode/0tAdYVbPjgN4RluC4zEZQE?si=Ym86MdI3SaOEGUyqEPagJg
[Off Chain 5/11/23: BRC-20 Boom vs Memecoin Mania](https://open.spotify.com/episode/0tAdYVbPjgN4RluC4zEZQE)
Listen to this episode from The Decrypting Crypto Podcast on Spotify. In this week's episode of Off Chain we cover the following stories: BRC-20 tokens have been causing chaos on Bitcoin Binance temporarily paused BTC withdraws, followed by billions in BTC “outflows” Is memecoin mania over? Bittrex Files for Chapter 11 Bankruptcy
- people sold their @bayc to buy $pepe.
#paperhand
- Who's hacking on Aave and @gho.lens at @ethglobal.lens Lisbon?
@aavegrants.lens has $10,000 up for grabs:
🥇 $3,500
🥈 $2,500
🥉 null,500
5️⃣ Plus the 5 best GHO integrations will receive $500 each!
Tune in with Dev Rel Engineer @jessglover.lens to hear more and check out this page for the full list of ideas and resources: https://t.co/Exkb7v8xfK
- Binance seeks regulation in the U.K. amid a U.S. crackdown on cryptocurrencies as its chief strategy officer acknowledges the challenging business environment in the U.S.
[Binance looks to the UK for regulation amid US crypto crackdown](https://cointelegraph.com/news/binance-looks-to-the-uk-for-regulation-amid-us-crypto-crackdown)
Binance seeks regulation in the U.K. amid a U.S. crackdown on cryptocurrencies as its chief strategy officer acknowledges the challenging business environment in the U.S.
- 💀
- BRC-20s (fungible altcoins minted natively on Bitcoin ) have arrived with a bang.
Their combined market cap passed nullbn on Monday and despite a pullback still hovers above $600mn.
$ORDI, by far the largest token, did ~$200mn in 24hr volume... $50mn of that was done on a CEX.
- One year ago today 💀
- Cant wait to tell the grandkids that our generational wealth came from made up frog money.
- I spent countless hours researching blockchain tech, speaking to founders, and place bets based on fundamentals.
Then… from time to time I make stupid (small bets) on shitcoins.
Not sure what it says about my fundamental analysis when I’ve made more $$ in the past 48 hours from memecoins than I have from all other investments YTD 🤣🙈
- The memecoin pump is always my least favorite stage of the cycle.
Peak FOMO, zero sum, and absolutely no logic.
Stay safe, kids.
- TFW you don’t measure the furniture you buy 🙈
Pro Tip: measure furniture you buy or you’ll have to get a crane to lift it over your house 😂
- This week's episode of the Decrypting Crypto Podcast is out. We cover:
🇺🇸 Trading volume at Coinbase hits 16-month low. Is this a sign of US regulation taking hold?
❌ Binance <> Voyager deal is blocked.
👩⚖️ Coinbase sues the SEC.
🎧 👉 https://open.spotify.com/episode/2kROzYnwASD4oFsOJyY5aI?si=CnnHO06CQGiPMhDHCacmyw
- This data is something that we should be very concerned about in Europe.
Average of >20% drop in commercial real estate value in the past 12 months (nearing 2007 levels).
This is a huge drop in collateral value for EU banks and is likely to get worse.
Not good.
- The past week has largely consisted of this.
More weeks like this, please.
- New episode of @decryptopodcast is out. We cover:
💽 ETH Shapella upgrade is a success (and ETH passes $2k!).
🤝 @eToro brings stock/crypto trading to Twitter.
🤖 AI+Crypto=Shitcoin (most of the time). Plus, who the heck is DWF Labs?
🏴☠️ Limewire is BACK... but with NFTs 🤔
🎧👇
[Off Chain 4/13/23: Shapella is a Success and Sends ETH Past $2k](https://open.spotify.com/episode/5x55PAsKm5iGCqsFCfLz3z)
Listen to this episode from The Decrypting Crypto Podcast on Spotify. In this week's episode of Off Chain, we cover the following stories: The Ethereum Shappella (that’s the Shanghai and Capella upgrades) went live yesterday evening Twitter to enable stock & crypto trading in partnership with eToro (kind of…) CryptoGPT raises $10mn in Series A @ a $250mn valuation Limewire is back!
- Pretty sure the next big crypto scandal will involve DWF Labs.
Come out of nowhere and now they're throwing around hundreds of millions of $$$ in - largely - OTC deals with low-quality projects.
We've seen this kind of thing before, haven't we?
- Binance’s prop trading team actively trading against its own customers via 300 “house accounts” allegedly owned by CZ.
Genuinely not even surprised by this.
- Discreet Log Contracts (DLCs) are one of the most interesting innovations on Bitcoin that you've never heard of.
I spoke with Aki Balogh, founder of DLC.link about how they're removing the need for 3rd party custodians for Bitcoin.
🎧👇
https://open.spotify.com/episode/2zhKnN174lFjfpVDodPKYV?si=eeJDLg2bRAmpPeeCAVRSFA
- So… what are the odds we have Binance collapse as our next Black Swan event?
- ⏸ 0bps rate change and it relieves pressure on banks but leaves us worried the Fed knows something we don't (i.e. banking is worse than feared).
⏩ +25bps change and banks feel more pressure and we worry things could get worse.
Feels like a lose-lose today for the Fed.
- Just took this little beauty home today! ⚡️⚡️⚡️
- GameStop has a higher valuation than Credit Suisse.
Let that sink in.
- Hate to break it to you, but if you’re buying BTC because you believe it’s going to nullmn in 90 days… you are exit liquidity.
- Here we go…
- Me: this isn’t a bull market. Nobody ever got hurt taking profit. Good to get into stables and wait for a pullback in a few months.
🥴Also Me: but what if it goes higher?
- Just so I understand this correctly:
✅ don’t hold assets on CEXs because there’s risk they’ll go under (e.g FTX).
✅ don’t hold assets in stablecoins because of depeg risk (e.g USDC).
✅ don’t hold cash in banks because they can collapse (e.g SVB).
Excellent.
- In 10 years from now we’ll look back and wonder how we didn’t scrutinise CBDCs more.
- Solana Spaces already shutting down their NYC and Miami stores 😬 Gotta wonder whether the Solana Phone will ever make it out, too.