NFT NYC, Solend takeover, Why Non-Finance use cases are the key to Crypto, Magic Eden & more with Vinny Lingham | E1489

This Week in Startups

Jason Calacanis

Technology

4.4 • 1.3K Ratings

🗓️ 21 June 2022

⏱️ 84 minutes

🔗️ Recording | iTunes | RSS

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Summary

There’s been some crazy news in Crypto, so we bring on Vinny Lingham, an early investor in Solana, who runs a startup that encrypts identity information on the blockchain called Civic. We dig into NFT NYC (8:24), the fiasco on Solend protocol (22:29), and how South Korean prosecutors have instituted a flight ban for employees while they investigate the $40 billion collapse (45:54). Finally, we talk about how, despite all of this, the Solana NFT Marketplace Magic Eden still raised $130 million at a $1.6 billion valuation (51:04).

(0:00) Jason and Molly introduce today’s show!
(2:18) Weekend banter with Jason and Molly
(8:24) Crypto Update: Solana Whale, NFT NYC, and Magic Eden w/ Vinny Lingham
(13:58) Squarespace - Use offer code TWIST to save 10% off your first purchase of a website or domain at https://Squarespace.com/TWIST
(15:13) The crypto drawdown: Vinny’s thoughts
(21:21) Notion - Get started for free at https://notion.com/thisweekinstartups
(22:29) DeFi protocol built on Solana, called Solend, voted to take over a “whale” account on Sunday, which accounts for ~95% of the platform’s total deposits
(35:29) OpenPhone - Get an extra 20% off any plan for your first 6 months at https://openphone.com/twist
(36:34) Should humans be able to intervene on crypto systems?
(45:54) South Korean prosecutors have BANNED Terraform Labs employees from leaving the country with a flight ban
(51:04) Solana-based NFT marketplace Magic Eden has raised a $130M Series B at a $1.6B valuation
(1:18:55) Outro: stories coming up this week

Transcript

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0:00.0	Hey, everybody, welcome back after a long weekend for some not all of us.
0:05.5	It is going to be a short week for us, but a big week here on this weekend startups big.
0:10.3	It's a lot of news going on and some crazy news in crypto.
0:13.9	So we brought on our good friend, Vinny Lingham, who'll be on in a moment.
0:17.4	He was an early salon investor, early Bitcoin investor and he runs Civic startup and
0:22.3	crypts identity information on the blockchain famously.
0:25.5	And he's going to talk to us about it all.
0:27.4	Yeah, we're all and there is a lot of it.
0:30.1	We're going to he's actually coming to us live from NFT NYC, which sounds like a bit of a fiasco
0:35.8	itself.
0:36.5	We will also talk about this, the fiasco on the salana deep I app called sold end and then
0:41.3	how somehow through all of this chaos a salana NFT marketplace called Magic Eden still managed
0:46.8	to raise $130 million at a $1.6 billion valuation.
0:49.8	Why not?
0:50.6	And there's some news that a whale has had their account frozen.
0:54.4	They can't liquidate it on salana.
0:56.0	I want to hear about that.
0:57.2	And don't forget about our good friend, Do Kwan, who was on the pod last year.
1:03.0	South Korean prosecutors, I kid you not have instituted a flight ban for employees while
1:09.6	they investigate the $40 billion tarot a lap.
1:12.6	So we're going to dig in on that as well.
1:14.6	Yeah, there's a lot's going on.
	...

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