Why the Tether Situation Brought Up Memories of Mt. Gox - Ep.042

Dan McArdle, cofounder of Messari and the creator of OnChainFX, discusses why tether lost its dollar peg, how the Gemini USD traded at above $1, and how this was similar to the time before Mt. Gox imploded. We also discuss the significance of the Fidelity news, plus McArdle's thesis on how Bitcoin would behave in a recession -- which isn't the conventional wisdom.

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Blockdaemon: http://blockdaemon.com/unchained/

OnRamp: http://www.thinkonramp.com

Episode links:

Dan McArdle: https://twitter.com/robustus

Messari: https://messari.io

OnChainFX: https://onchainfx.com

Tether falls in price: https://www.coindesk.com/price-of-tether-stablecoin-tanks-to-18-month-low/

Gemini trades as high as $1.09: https://www.coindesk.com/gemini-stablecoin-volume-doubles-top-10-exchange-bibox-tether-turmoil/

Bitfinex's banking situation: https://theblockcrypto.com/2018/10/16/tether-has-found-a-new-bank-in-the-caribbean/

https://theblockcrypto.com/2018/10/16/bitfinex-appears-to-have-moved-its-business-to-a-hong-kong-bank/

Unchained episode in which I answer listener questions: http://unchainedpodcast.co/listener-mail-laura-answers-your-questions-on-the-markets-velocity-privacy-and-more-ep88

Fidelity's news: https://www.forbes.com/sites/michaeldelcastillo/2018/10/15/fidelity-launches-institutional-platform-for-bitcoin-and-ethereum/

Dan's thoughts on how Bitcoin could behave in a recession: https://twitter.com/robustus/status/1010240675189805063