TBW #41: The secret of Web3? Innovation!
Published on Jan 11, 2023
Read all about The Big Whale's 41st Premium newsletter.
Hello Whales and happy new year! 🍾
Welcome to the little newcomers who have just joined us in the Premium edition. There are already over 1,500 of you reading us every week! Thank you so much 😍
To devour this week
🔥 Our exclusive news
⚡ ️ The challenges facing miners
⛏ Mining: at what cost?
THE BIG SPLASH
Innovating and innovating again 💡
10 days. It only took 10 days in 2023 for an industry giant to announce yet another redundancy plan. This time, it was Coinbase 🇺🇸 , the exchange platform, which is to shed 950 employees, i.e. 20% of its workforce, but it could very well have been another player.
Because Coinbase will obviously not be the only one experiencing difficulties. The arrival of the new year has done nothing to dispel the clouds hanging over the sector: markets are down, investment is down... In Web3, as elsewhere, there is no magic slate (unfortunately)!
Is this a problem? Not necessarily. While growth is obviously easier when money is flowing like it has been since 2020, it can also be a form of poisoned gift with the risk of spreading ourselves too thin and resting on our laurels.
In an which we published last week, the CEO of crypto-asset manager CoinShares, Jean-Marie Mognetti, explained that 2023 will be a pivotal year for the sector and that the premium will be on companies that manage to innovate the most while spending the least. We couldn't have said it better ourselves! 👌