GM, this is the Milk Road. The friend who makes sure you never skip a beat in crypto.
Email Read Time: 2 Minutes & 49 Seconds
It's Ben flying solo today, so let's get into it.
With prices in the green again, we're all still feeling greedy:
In Today’s edition:
- 💪 Coinbase's new hire
- ⛰️ Mt. Gox is back
- ⚽ Sorare launches with the MLS
- 💸 Biden's new tax proposal
COINBASE IS LOOKING FOR THEIR JASON BOURNE
Coinbase is on the hunt for security guards to protect their big wigs.
And in the job description, they called remote wilderness first aid experience a “nice to have.” 😂
The craziest part? They’re hiring someone to make sure some of the world’s richest people are protected and they’re paying them $95k. That’s $10k less than they pay the guy who writes the words on their website (don't worry i still respect you, copywriters).
Check out the full job posting on LinkedIn here.
THE GUY WHO RAN MT. GOX IS BACK
Mark Karpeles, was the CEO of Mt. Gox from 2010 - 2014.
If you don’t know Mt. Gox, it was the who’s who of exchanges back in the day. Over 70% of all of the BTC transactions were run through it.
In 2014, the company was hacked and ~850 BTC were stolen, which was ~$460M and 7% of the total supply at the time.
When it got hacked, BTC crashed from $1,000 to $350 (-65%) and it took 3 years to fully recover.
With a free NFT: If you were a user on Mt. Gox from 2010 - 2014, you’re getting a free commemorative NFT.
Even if this isn’t worth any money, it’s cool, because it signifies you’re a crypto OG.
With a new company: He used this as an opportunity to announce his new project. A “trust score” for people to quickly know whether or not they can trust a site they’re about to use.
The name: UNGOX.
I have one thought. Recycling the name "Gox" just proves that's what’s dead may never die.
Today's Milk Road is brought to you by Trends 📈
Okay, I wanna tell you about one of my favorite communities…Trends.
Trends has a full research team figuring out what the next big thing is gonna be. They break down the latest market trends in detail and give you what you need to be ahead of the curve.
Plus the community is full of interesting people. I’ve met 4-5 awesome folks to help me with stuff (e.g. facebook ads, real estate, finding a good tax accountant, etc).
SORARE BRINGS ON THE MLS
After partnering with 230 soccer clubs, Sorare just announced that they’re launching all 28 MLS clubs on its Fantasy NFT game.
Here’s how it works:
- You buy licensed NFTs of specific players
- You use your NFTs to build lineups
- You enter your lineups into tournaments
- If you rank high enough in these tournaments, you win NFTs and ETH
At first glance, that looks just like Daily Fantasy Sports (ya know what FanDuel and DraftKings do) - does an NFT make it better?
Well - because each player is an NFT with limited supply (I.E. there’s only 1,000 David Beckham NFTs), you can sell it after a few good games, even if the lineups don’t win.
The concept has caught fire with over $325M of Sorare NFTs traded last year and $4.6M in the last week.
The Milk Road’s take: This is actually a great idea that improves on the current way we play fantasy sports and there's a good chance it's gonna keep growing.
BIDEN'S NEW TAX PROPOSAL
A few weeks ago, Biden announced that he wants to support crypto innovation and now we found out why….the US government expects to collect $11B in revenue from crypto taxes in 2023.
There’s two big proposed changes:
1/ Letting the IRS collect taxes on unrealized gains. Here’s a great thread by the founder of Figma on why that’s a terrible idea
2/ Requiring US taxpayers to provide info on foreign accounts with digital assets
P.S. While we're talking about taxes, don't forget we're inching closer to tax day!
CHART OF THE DAY
Fresh investment inflows were the highest they've been since Mid-December, with $193m coming in last week.
The Milk Road's take: Momentum breeds momentum - and we have momentum right now.
Alright, that's all we got for this fine Tuesday!
Ahhh there it is...
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