Crypto tumbled on news of a $40 million Binance hack, but before you could scream “Mt. Gox”, CZ was calming everyone down saying funds were safe & clients who lost money would be fully reimbursed. A few weeks ago Binance’s kingpin declared his business was worth about $15 billion, thus the stolen funds are small potatoes in the grand scheme of things.
Meantime, there’s almost what might be described as a btc “flight-to-quality” aspect ushering through crypto markets as the “Dominance Index” demonstrates almost 3/5 of the entire digital-asset pie now resides in the world’s top leading coin. I guess an analogy is in times of duress money moves into bonds when stocks & real estate plunge in value. It’s an imperfect analogy but all I’d say is “You don’t have Nixon to kick around anymore.” Not sure why that historical comment popped into my mind but just go with it.
It’s not too late to go attend “The Trading Show” at Navy Pier tomorrow. Guests from out of town please try our pizza & beer. If you’re looking for something fun to do go to Buddy Guy’s Legends to hear some real blues music. You will not be disappointed.
One thing I’m looking forward to seeing is the maturation of the blockchain industry that in only a year’s time has gone from Pre-K to, well, at least Juco D1 transfer.