Digital Alchemy: A Post-Mortem of the Crypto Crash

Alden is incredibly smart on nearly any financial topic, and this is no exception. This reads more like a love letter to Bitcoin, but her overall points are strong. Her summary of the TerraUSD meltdown is very approachable. I personally had avoided Terra and Luna because of the structure of the stablecoin and the use of Bitcoin as a backing asset. There is just too much correlation. I think her basic point that only a few of these ecosystems will survive over the long term is true. I also think her grouping of all organizations that have foundations in the middle as bad is overly general. Overall a good read and very insightful.