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October 27, 2022

Upvotes, Toilets, and Bankruptcies - From the Cryptoverse Ep. 2

Join Ledgible VP of Marketing Trevor English and Sr. Marketing Manger Jacques Potts as they dig into the latest news surrounding crypto.


Reddit having success with NFTs and Crypto

Since its launch in July, Reddit's NFT marketplace has seen an impressive uptake, with users creating nearly three million wallets. This is significantly more than the 2.3 million active wallets held on OpenSea. By avoiding using crypto jargon and launching their NFTs as "Digital Collectibles", Reddit has shown that there is a strong appetite for such assets even among those who are not familiar with the underlying technology.


FTX acquiring Voyager

The bankruptcy court has approved the purchase agreement for Voyager's assets. If approved by creditors, this would move most Voyager customers to accounts on FTX's platform. They would recover 72% of the cryptocurrency assets that they held with Voyager before its bankruptcy filing. Although the value of those cryptocurrency assets may have diminished in the time since Voyager filed for Chapter 11, this still represents a significant recovery.


Elon Buying Twitter

Elon Musk has officially purchased Twitter. It will be interesting to see how Twitter, with Elon as the head, who has pumped Doge Coin and a few other coins will bring anything new to the platform soon.


The recent gains in the Crypto markets

There was a slight uptick in the prices of top cryptocurrencies this week, with bitcoin surpassing $20,000 once again. Despite some volatility in the stock market, these assets continue to show signs of decoupling, which could suggest that investors are beginning to see them as independent investment opportunities.

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