This episode provides a market update covering significant events in the cryptocurrency space, including a major bankruptcy, a successful funding round, and a high-profile exchange hack.
Main Topics Discussed:
* CoinTerra Bankruptcy: The legendary Bitcoin mining company, CoinTerra, filed for bankruptcy, highlighting the ongoing instability and over-promising within the mining sector.
* Ripple Labs Funding: Ripple successfully closed a $30 million funding round, securing investment from major firms including Andreas and Horowitz, Google Ventures, and IDG capital partners.
* Exchange Hack: Chinese Exchange 796 suffered a hack, mistakenly losing 1,000 Bitcoins due to a similar address attack. The exchange promised to repay users using shareholder funds.
* Security Warning: The hosts strongly advised listeners to never leave Bitcoin on exchanges, emphasizing the importance of private keys and paper wallets.
Key Quotes:
1. "If you don't own your private keys, you don't own your Bitcoin."
2. "Never leave your Bitcoins on the exchange, trade them and store your Bitcoins in paper wallets with private keys that have never touched the internet."
3. "Coin Terra files for bankruptcy... has filed for bankruptcy and is no more."
People/Entities Mentioned:
* Andreas and Horowitz
* Google Ventures
* IDG capital partners
* CoinTerra
* Ripple Labs
* Chinese Exchange 796
Bitcoin Price:
* Bitcoin was reported to be down 1.5%.
* Last price: 232. High: 236. Low: 222.