Letter # 104

A week is a long time in the crypto world, they say. And, a lot has happened over the past week that, when broken down to its bare bones, leaves us with the feeling – what were they thinking! Usurp traditional finance by all means, but make it better, not worse.

You have probably read a lot already about the collapse of FTX. This week, we analyze, in layman’s terms, what went wrong at FTX and why this may not be the last of the system crashes we will hear about.

This article is not so much investment advice (although we do have one solution to this mess) as much as it is gratitude for how robust the systems within traditional centralized finance have become over the decades. There is learning in there for crypto fans, and equity investors alike.

However, that makes it more of a weekend read than one during working hours; and hence, the weekend release. Read it here: https://tinyurl.com/59mpaf5e

Read the previous 103 articles here: https://www.buoyantcap.com/memos/

Disclaimers:

Information in this letter is not intended to be, nor should it be construed as investment, tax or legal advice, or an offer to sell, or a solicitation of any offer to make investments with Buoyant Capital. Prospective investors should rely solely on the Disclosure Document filed with SEBI. Any description involving investment examples, statistical analysis or investment strategies is provided for illustration purposes only – and will not apply in all situations and may be changed at the discretion of the principal officer. Certain information has been provided and/or based on third-party sources and although believed to be reliable, has not been independently verified; the investment managers make no express warranty as to its completeness or accuracy, nor can it accept responsibility for errors appearing herein.