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GM.
Skybridge founder Anthony Scaramucci shared his honest thoughts about SBF’s betrayal and FTX’s meltdown, and they aren’t pretty. Don’t worry, though — Scaramucci is still bullish on the Orange coin 🐂 What’s his 2-3 year price target?
And have you ever considered a career in Web3, but felt worried about the industry’s stability? Well, a Web3 recruiting CEO has shared his insider info on what the most stable, in-demand jobs in all of crypto are. And no, it isn’t “influencer.”
We’ll tell you all about it, but only after we’ve tickled your brain with a little trivia:
What industry had the highest blockchain adoption last year?
Tap your answer below to see if you’re right!
Today's Agenda:
- SBF: FTX Zuckerberg to Madoff 😡
- The Most Stable Crypto Jobs? 🧐
- Shiba Inu NFT Sells out INSTANTLY 💰
- The Bear Market Is for ETH Builders 😤
- Hong Kong Web3 Fund Raises $500M 💲
That is quite the insult. Anthony Scaramucci, the former White House Director of Communications and the Founder of Skybridge, spoke out about how betrayed he felt by FTX’s former CEO at Blockchain Hub Davos 2023 in Switzerland.
He apparently really felt like they were friends, and said the following about Sam: “I have to tell you that the betrayal and the fraud, it’s bad on a lot of different levels, it certainly hurt me reputationally, but I’m just talking about the visceral relationship with somebody.”
Ouch. I feel for the guy.
I think Scaramucci captured what we all felt about Sam — that we thought he was the Zuckerberg of crypto, not the Madoff of crypto.
Impressively, Scaramucci is not anti-crypto, even after the emotional rollercoaster that the past 3 months have been for him and his digital asset management firm, Skybridge.
Scaramucci doesn’t miss a beat — he’s stated that he believes Bitcoin will see $50k-$100k in just two to three years. Talk about bullish.
Whether that’s his true belief or just positive PR for his company, who knows. But I love to see someone who was wronged by a bad actor being able to look positively at the future of this industry 👍
In other news, more and more corruption is coming to light. One in three senators received donations from FTX executives 🤦
And FTX has apparently been hacked for $415M since it filed for bankruptcy. Honestly, it kind of feels like they had that coming to them.
Sam Bankman-Freud is set to appear in court this October to answer for the mess he created — until then, we’ll keep you updated on anything else that happens with FTX.
A wonderful question.
It seems like the most valuable careers in the crypto space are still developer roles — even as we’re seeing industry-wide layoffs.
The founder and CEO of Proof of Talent (a crypto recruitment firm) Rob Paone has shared that technical and engineering roles are by far the most important. Basically, dev roles.
Job Pay-one (excuse me, Rob Paone) went on to say that the salaries for those jobs are “very competitive” even though he isn’t seeing any more salary “bidding-war-type scenarios” for candidates.
Although crypto dev counts have fallen by 16% since their all-time highs, if we zoom out and look at crypto’s entire history since 2009, we see that the numbers have actually just been growing and growing over time:
At a time where it feels like every crypto company and their mother (company) are laying off employees, it’s good to hear that some jobs are still in crazy high demand. Just take a look at Coinbase, yikes:
Paone continued on to say that the most endangered jobs are “non-revenue or profit generating” roles. Makes sense — companies are cutting off the excess and hunkering down to make it through the bear market.
On a related note, last year, Blockdata released a report that analyzed blockchain adoption among the top 100 companies in the world, and here were its findings:
It makes sense that Tech and Telecoms are leading the charge with 36% adoption, but I love that Healthcare is even on this chart. So cool.
If you’re hunting for a job in Web3 right now or even hoping to transition over in the future, don’t lose hope — companies only seem to be ramping up their blockchain initiatives, and as we all know, the bear market is the time to build.
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Other Top Stories Today 📢
Shiba Inu collaborated with Bugatti Group on a new NFT collection, and the whole thing sold out in 110 seconds. And in a bear market, no less! The Bugatti Group (fashion company, not the car company) x Shiba Inu NFT drop consists of backpacks, luggage, wallets, and more. You can check out the OpenSea collection here, where the floor price is 0.336 ETH at the time of writing.
Although the threat of recession is looming over all financial markets, developers on the Ethereum blockchain are still just doing what they do best — building. According to a new report from Electric Capital, although ETH developer count has fallen a bit this year, it’s actually still increased by 5% from December of 2021. Zooming out to take a wider view of the industry as a whole, the total amount of Web3 developers has also increased by 5.4%, even in the midst of all the meltdowns and bankruptcies we’ve seen. What a win for crypto.
Hashkey Capital, a global asset management firm based in Hong Kong, has just finished a funding round that raised a whopping $500M for investments in Web3 infrastructure, tools, and apps with the goal of speeding up mass adoption. The company’s investment director Xiao Xiao said the following about the funding move: “Web3 is growing too fast to be ignored. Many traditional institutions and internet giants are interested in crypto. Some are learning how to participate in this paradigm shift.” Hashkey manages assets for top-tier firms such as Animoca, Polygon, Blockdaemon, and others.
Web3 Resource of the Day
Zero-Knowledge Proofs: STARKs vs SNARKs - Article from Consensys
Have you heard the terms zk rollup, zk STARK, or zk SNARK before, and had no idea what the hell people were talking about? But you knew they were somehow integral for blockchain technology? Look no further than this incredible article laying out not only what zero-knowledge proofs are, but also the history behind each type and their different strengths and weaknesses. If you take a walk through this article, you will come out the other side with a solid understanding of one of the most important scaling solutions in all of blockchain technology.
Have a Great Wednesday!
We’re halfway through the week. You’re crushing it.
Go ahead and walk into your day confident that you’re up to date on all things crypto, and may you lull yourself to sleep tonight with the age-old story of BTC…
That’s all for today, frens!
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DISCLAIMER: This is not financial advice. This newsletter is strictly educational and is not investment advice to buy or sell any assets or to make any financial decisions. Do your own research.