tl;dr
Mullets are back, if you haven’t been paying attention. A Coinbase scam, and a repeat of a general crypto warning we must never forget.
Market Snap
Market Wrap
As one commentator wisely remarked yesterday:
“Whatever one thinks of Trump’s tariffs, the world has to confront the reality that China — a totalitarian state that severely limits the rights of its own citizens, uses slave labour, and has tried to erase the identity of Tibetans and Uyghurs — has become a dominant producer of consumer goods on which we have created an unhealthy dependency.”
If Trump is serious about reordering world trade to curtail pernicious Chinese influence, risk assets are in for a rocky 2025. Our desire to buy cheap goods with a far weightier environmental impact than otherwise is to blame. A period of pain seems a suitable penance.
Occasional Series — India
We Brits love India for so many reasons.
My personal experience of China, and its all-encompassing subjugation of basic human rights, does make one wonder how two totally different political philosophies can exist side by side.
Apparently, they cannot.
I fear that the Chinese approach embodied in Warren’s anti-liberty and anti-freedom desire for total control is starting to impact on India:
Curious Cryptos’ Commentary — DeFi useability
Just yesterday, the CCC was complaining that the user experience for DeFi leaves an awful lot to be desired.
Shortly afterwards, the Milk Road (https://themilkroad.beehiiv.com/subscribe?ref=o5CmCFhBAK) responded with a piece on that exact subject, specifically Coinbase’s DeFi Mullet, which is a new expression for me:
