📈 Web3 TLDR: 📉 Another Victim of the FTX Collapse. Canadian Teachers.
The Web3, NFT and Crypto Newsletter
Here Are The Things You Need to Know:
BTC
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ETH
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Disclaimer: This newsletter is not financial advice. Always do your own research
This edition is sponsored ...
- 📉 Another Victim of the FTX Collapse. Canadian Teachers.
- 🏝️ Crypto Exchange Uniswap Says It Collects Users' Public On-Chain Data
- 💸 Web3 TLDR Guide: 3 Reasons Why Your DeFi Investments Are Losing Money
AND NOW THE NEWS
Another Victim of the FTX Collapse. Canadian Teachers.
Ontario Teachers' one of Canada's largest pension funds with over $250 billion in assets under management (AUM), has stated that it will write off its $95 million investment in FTX following the crypto exchange's bankruptcy protection claim.
In October 2021, Ontario Teachers' $75 million investment in FTX International and its U.S. entity, FTX.US, was followed by an additional $20 million investment in January, according to a statement. The investments were made through Teachers' Venture Growth (TVG) and accounted for less than 0.05% of the fund's net assets, the statement said.
It's not the first time a big Canadian pension fund has gotten caught up in crypto contagion. In August, it wrote down its $150 million investment in Celsius Network, the failed crypto lender.
Written by: WarBiscuitNFT
Crypto Exchange Uniswap Says It Collects Users' Public On-Chain Data
The development team behind the decentralized exchange Uniswap recently released a privacy policy noting that they collect certain on-chain data from their customers in order to continually enhance their product.
Uniswap Labs collects user information such as on-chain data in order to continuously enhance the services and products it provides, prevent fraudulent or illegal activities, address potential security issues such as bugs, and more.
Uniswap Labs does not collect personal data such as the individual's first name, last name, street address, birthdate, email address, or internet protocol address.
Written by: WarBiscuitNFT
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AND BACK TO THE NEWS
Web3 TLDR Guide: 3 Reasons Why Your DeFi Investments Are Losing Money
So you’ve finally taken the leap into DeFi and you’re excited to be making some profits with your investments. However, you’ve noticed your $1000 LP tokens is sinking in value. What gives? Here are 3 reasons why you might be losing value:
Pool Volatility
As users pull/add money into pools, you’ll see either your LP token value drop or gain, respectively. This is a normal occurrence with all pools. Do your research on the best token pairs/triplets in pools to ensure its a sound, long-term investment.
Bogus Tokens
Pools consist of at least two token pairs (ex. ETH — USDC) and deposits into the pool is what helps created a borrowing/lending market. However, if your token pair is, for example, ETH — Squid Game Token, then chances are your pool is going to pump and dump at some point. Avoid phony, unknown tokens within pairs. Again, do your research on which pools have the best pairs for investment longevity.
Market Volatility
The most obvious of the three reasons, if the market is going down, chances are your token pairs are losing value and hence your LP token value will shrink. If you’re a long-hauler in crypto, then more than likely you wont panic sell to get out of the position. However, make sure you are ready to see your value dip for an extended amount of time. If you can’t afford it, you might need to pull your money out and leave the fight for another day.
In the end, DeFi has some amazing opportunities to let your idle tokens/coins to earn some money back by staking or investing into pools. However, make sure you know what you are investing into and if you want short-term or long-term exposure. This will help you back out of your position if crypto days go a bit gray. Happy Investing Everyone!
Written by: nikethereum.eth / Medium / Mirror
One Last Thing...
Tech’s Legion of Doom
— @jason (@Jason)
Nov 20, 2022
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