Why I sold all my ETH | Richard Craib, Numerai

Empire

English - May 20, 2022 11:00 - 55 minutes - ★★★★★ - 155 ratings
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On today's episode of Empire, Jason and Mike are joined by Richard Craib, founder of Numerai, to discuss why Richard sold all his ETH.
Richard is a prolific investor and has been part of the Ethereum ecosystem since the 2014 ICO. That’s why it was such a big deal when he announced he sold his ETH and that he no longer sees crypto as a good investment.
Does crypto have a product outside of speculation? Is crypto’s growth just a result of the Fed? Is crypto more about regulatory arbitrage than the tech? These questions and more are explored in this fascinating conversation (debate!) where Richard holds nothing back.
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Follow Jason: https://twitter.com/JasonYanowitz
Follow Mike: https://twitter.com/MikeIppolito_
Follow Empire: https://twitter.com/theempirepod
Follow Richard: https://twitter.com/richardcraib

Subscribe on YouTube: https://tinyurl.com/4fdhhb2j
Subscribe on Apple Podcasts: https://tinyurl.com/mv4frfv7
Subscribe on Spotify: https://tinyurl.com/wbaypprw

- -
Referenced in the show:

Richard's video announcing why he sold his ETH
https://twitter.com/richardcraib/status/1523513981347848192?s=20&t=qwlN5rWxe5-KWyJOEr4B6Q

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(00:00) Intro
(01:52) Why Richard Sold All of His ETH
(09:00) The Fed "Created" UST
(12:14) Macro Trouble
(15:53) A Market Neutral Strategy
(19:38) Is Crypto's Only Product Speculation?
(32:58) An Overreaction to a Flawed System
(36:26) A Massive Misallocation of Capital
(40:25) It's Mostly Just Regulatory Arbitrage
(43:00) Why People Join The Crypto Industry
(47:33) Is There A Real Use Case?
(52:28) What Richard First Liked About Crypto

On today's episode of Empire, Jason and Mike are joined by Richard Craib, founder of Numerai, to discuss why Richard sold all his ETH.

Richard is a prolific investor and has been part of the Ethereum ecosystem since the 2014 ICO. That’s why it was such a big deal when he announced he sold his ETH and that he no longer sees crypto as a good investment.

Does crypto have a product outside of speculation? Is crypto’s growth just a result of the Fed? Is crypto more about regulatory arbitrage than the tech? These questions and more are explored in this fascinating conversation (debate!) where Richard holds nothing back.

- -

Follow Jason: https://twitter.com/JasonYanowitz

Follow Mike: https://twitter.com/MikeIppolito_

Follow Empire: https://twitter.com/theempirepod

Follow Richard: https://twitter.com/richardcraib

Subscribe on YouTube: https://tinyurl.com/4fdhhb2j

Subscribe on Apple Podcasts: https://tinyurl.com/mv4frfv7

Subscribe on Spotify: https://tinyurl.com/wbaypprw

- -

Referenced in the show:

Richard's video announcing why he sold his ETH

https://twitter.com/richardcraib/status/1523513981347848192?s=20&t=qwlN5rWxe5-KWyJOEr4B6Q