Hello and welcome back to Chain reaction a podcast where we unpack and explain the latest crypto news, drama and trends, breaking them block by block for crypto curious.

You’ve probably gotten the message that the markets are suffering and the crypto is particularly badly affected. In this week’s episode, we talked about what the imminent “crypto winter” or downturn could mean, which could mean for both public and private companies after a period during which huge rounds of cryptocurrency seemed to occur almost daily.

We watched the fiasco occurs at Terraform Labs, which is controlled by the UST algorithmic stablecoin and its cognate currency LUNA. The UST is expected to track the US dollar from 1 UST = 1 USD, but this week it lost its binding, and chaos has since unfolded, putting downward pressure on the largest cryptocurrencies, Bitcoin and Ethereum. If for you it sounds abstract and confusing, we feel you. That’s why it took us a while to figure out what’s really going on behind the scenes with UST and why this stabilcoin that appears is so important to the crypto-ecosystem right now.

Our guest: Kevin Rose of Moonbirds

Who better to share the words of wisdom for startups and investors facing a smashing market than someone like Kevin Rose, a True Ventures investor, who says is it his “10th or so” cryptocurrency? Kevin also co-founded Proof Collective, a private community of NFT collectors that launched the Moonbirds NFT virus project last month. He told us about the ethics of cryptocurrency, why he took money from traditional venture capital, despite raising tens of millions from the Moonbirds mint alone, and about his thoughts on charging people $ 40,000 + JPEG (current price to get Moonbird). ).