Crypto anon Loomdart makes the case for FTX 2.0 to go ahead
Loomdart, a veteran member of the crypto community and the co-founder of eGirl Capital, is advocating for an FTX reboot.
In this episode, Loomdart explains why 'FTX 2.0' could represent an opportunity for over a million FTX creditors to be made whole in a unique way.
As Loomdart explains,
"My quickest pitch for FTX 2.0 is you effectively get to 'airdrop' an exchange to over a million people who have a big vested interest in using this exchange."Last month, a potential reboot plan for FTX reportedly caught the attention of venture capital firm Tribe Capital.
During this episode, Chaparro and Loomdart also discuss:
The 'institutionalization' of $PEPE
Making sense of memecoin mania
Alameda's billion-dollar tax bill
This episode is brought to you by our sponsor CleanSpark.
About CleanSpark
CleanSpark (NASDAQ: CLSK) is America’s Bitcoin Miner™. Visit cleanspark.com/theblock to learn more about the CleanSpark way.
Crypto market has experienced an 'education by fire,' says Loomdart
In this month's 'Market Pulse' episode of The Scoop, The Block Vice President of Research Larry Cermak and Loomdart, a founding member of crypto-native venture firm eGirl Capital, reflect on FTX’s collapse and speculate on what comes next for the crypto industry.
According to Cermak, former FTX CEO Sam Bankman-Fried (SBF) is remaining in the Bahamas to stay engaged with local regulators:
“Sam still has connections in the Bahamas and the government is still standing by him … He just made them look terrible, so they kind of have to go in this direction”
During a recent interview, SBF confirmed he is still living in the Bahamas, although he is not communicating with FTX’s new CEO John Ray.
While FTX's collapse pushed crypto prices to new yearly lows, Loomdart says it is ultimately better for the long-term health of the industry:
“Crypto is such an open and free ecosystem to where if we don't have this type of education by fire it just keeps getting worse … If FTX didn't blow up now and they managed to keep going — I don’t think that hole was going to shrink.”
Episode 122 of Season 4 of The Scoop was recorded remotely with The Block's Frank Chaparro and Larry Cermak, and Loomdart, co-founder of eGirl Capital.
Listen below, and subscribe to The Scoop on Apple, Spotify, Google Podcasts, Stitcher or wherever you listen to podcasts. Or click here to watch the full interview on YouTube. Email feedback and revision requests can be sent to podcast@theblockcrypto.com.
This episode is brought to you by our sponsors Tron, Ledn
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'This isn't 2017:' Loomdart explains why crypto markets won't see a big bear market
A lot has changed since the sluggish days of the crypto bear market in 2019, according to infamous Twitter personality “Loomdart.”
The investor at Egirl Capital—an anonymous group of crypto traders—joined host Frank Chaparro for a discussion about how the market has matured since 2019's doldrums and why he believes it will only continue to mature in the years ahead. In Loomdart's view, cryptocurrencies are no longer as correlated with one other as they once were. However, he also acknowledged that today the recent Metaverse and NFT headlines have temporarily “hijacked” momentum in the $2 trillion market.
“Ever since this kind of metaverse narrative started and Facebook did the whole 'Meta' brand takeover, there has been this gigantic influx of capital,” he said.
To be sure, Loomdart is also talking about his own book as the founder of MetaDrop, which recently helped Alien-themed shooting game VAIL raise money through an NFT drop. But the anonymous UK-native has data to back up his investment thesis. Over the past month, NFT gaming firm Sandbox raised $93 million, while Solana Ventures, FTX, and Lightspeed Venture Partners has raised $100 million for a blockchain gaming fund.
Loomdart told Chaparro that this VC interest in the metaverse and NFTs will ultimately feed back into the broader crypto market, thereby making it more dynamic.
“This isn't 2017, 2018's crypto anymore,” Said Loomdart. “Everything was just one market, but like crypto has evolved so far beyond that.”
In this episode, Chaparro and Loomdart discuss:
How Ether's "flippening" of bitcoin could open up a Pandora’s box
Why Loomdart believes crypto prices will likely “slowly go up forever”
The impact of the macro backdrop on crypto prices
Why the metaverse will only take off if crypto is in the background
Episode 82 of Season 3 of The Scoop was recorded remotely with The Block’s Frank Chaparro and Loomdart, Co-Founder of MetaDrop.
Listen below, and subscribe to The Scoop on Apple, Spotify, Google Podcasts, Stitcher or wherever you listen to podcasts. Email feedback and revision requests to podcast@theblockcrypto.com.
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