Daily Edition · Page 5

THE DAILY INDEX

Technology, AI, software, security, crypto and business

MARKETS & BUSINESS

TLDR Crypto

FTX BANKRUPTCY HEADLINES MISLEAD THE PUBLIC

Despite mainstream media headlines suggesting FTX creditors will recover over 100% of their funds, the actual value users will receive is significantly less than what the assets could/would have been worth. Creditors will receive ~118% of their funds fixed to the fiat value of their assets on FTX's bankruptcy filing date. Many of the lost currencies (e.g., BTC, SOL, and ETH) have appreciated significantly since then.

FARCASTER VS. LENS PROTOCOL

Decentralized social media protocols aim to give users ownership and power over their data. Farcaster is known for its engaging content and Frames – mini-apps allowing unique interactions with onchain content. Lens Protocol has been creator-focused, with customization around following and post collection. It has a similar albeit less-used Frames competitor called Open Actions. Farcaster's memecoin DEGEN and Lens' BONSAI act as a tipping and quality content incentivization mechanism, though DEGEN has grown much larger and has its own L3.

ANALYZING THE PERFORMANCE OF CELEBRITY-PROMOTED CRYPTO PROJECTS

Historically, celebrity-owned or promoted cryptocurrency projects have generally failed, often due to a lack of genuine interest and commitment from the celebrities themselves, who typically engage more for immediate financial gain than for long-term project development. The trend suggests minimal effort in project execution, with many using low-quality art and lacking substantial backing, casting doubt on the potential success of Caitlyn Jenner's new coin venture.

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