This janitor in Vermont amassed an $8M fortune without anyone around him knowing. Here are the 3 simple techniques that made Ronald Read rich — and can do the same for you
Warren Buffett is reported to have once said, “You don’t need to have extraordinary effort to achieve extraordinary results. You just need to do the ordinary, everyday things exceptionally well.”
It might sound too simplistic to be true, but if you doubt the Oracle of Omaha’s wisdom, you should hear the story of Ronald Read.
Read, a retired gas station attendant and janitor in Vermont, passed away in 2015. Nothing about his life or death was extraordinary, except for the fact that his estate was revealed to be worth $8 million after he passed away.
This was a surprise to much of Read’s local community. “He was a hard worker, but I don’t think anybody had an idea that he was a multimillionaire,” his stepson told the local press after his death.
Read didn’t have the type of career path you’d typically associate with a multimillionaire. So how did he pull it off? Here’s a closer look at the three simple techniques that made him so wealthy.
Don’t miss
Frugality
Ronald Read seems to have had a reputation for being extremely frugal. In fact, he likely could have given Buffett — who is famously frugal — a run for his money.
Read’s friends remember him driving a second-hand car and using safety pins to hold his worn-out coat together. He even continued to cut his own firewood well after his 90th birthday.
It’s a painfully straightforward approach: Spending less than you earn leaves you more to invest and generate wealth over time through investments.
“I’m sure if he earned $50 in a week, he probably invested $40 of it,” said Read’s friend and neighbor, Mark Richard, according to CNBC.
Investments
After he died, the Wall Street Journal analyzed Read’s personal portfolio. They discovered that many of his positions were held for several years — if not decades — and had delivered immense returns over that period.
In 2015, Read’s portfolio included heavyweights like Wells Fargo (NYSE:WFC), Procter & Gamble (NYSE:PG) and Colgate-Palmolive (NYSE:CL).
Read more: Here’s the average salary each generation says they need to feel ‘financially healthy.’ Gen Z requires a whopping $171K/year — but how do your own expectations compare?
Again, here’s another parallel between Read and Buffett. If those names sound familiar it’s probably because you’ve seen some of them on Buffett’s portfolio too. In fact, Berkshire Hathaway had a sizable position in Wells Fargo for several years and Procter and Gamble is still part of the portfolio.
Both investors prioritized holding long-term positions in undervalued and overlooked companies. That’s what helped Read create his multimillion-dollar fortune. However, for both investors, the key ingredient was time — and patience.
Longevity
Ronald Read lived to 92 and Buffett is 92 years old now. Both investors have benefitted immensely from living and working longer than average. In fact, 90% of Buffett’s fortune was generated after his 60th birthday. If he’d retired early in his 50s, most people would have never heard of Warren Buffett.
The power of compounding is magnified over longer time horizons. In other words, investing for longer is more likely to deliver better returns. Buffett’s compounded annual growth rate of 9.17% would have turned $1,000 into $9,000 in 25 years and $13,900 in 30 years.
To be fair, none of us can control how long we live. Instead, starting early and staying in the market for as long as possible is probably the best strategy. It’s also advisable to let your winners ride for longer. Taking profits too early or trading your positions too frequently adds costs and diminishes the power of compounding.
What to read next
This article provides information only and should not be construed as advice. It is provided without warranty of any kind.
In July Zhurong took this image of the landing site of the parachute and part of the capsule that had carried it safely to the surface.Credit: CNSA
More than 30 scientists across mainland China, Hong Kong and Macau are rushing to process data collected by China’s Mars rover, Zhurong, and by the nation’s Tianwen-1 spacecraft, which is in orbit around the planet. Several studies have trickled out, but researchers say that more are coming in the next weeks and months, offering insights on the climate, geology and history of Mars’s northern hemisphere.
Since September, the National Astronomical Observatories of the Chinese Academy of Sciences (NAOC), which has been receiving the data from space, has released nearly 200 gigabytes of information that was collected from eight instruments on the rover and orbiter between February and June. These instruments include cameras, a radar system, climate sensors and a laser spectrometer.
Some surface features, such as possible sedimentary material and potential mud volcanoes, hint at the historic flow of water, so scientists are looking for any clues that there was once water or ice below the surface. This is “of great scientific interest” as it might provide evidence of an ancient ocean, says Bo Wu, a planetary scientist at the Hong Kong Polytechnic University, who is analysing some of the data.
Tianwen-1 arrived at Mars in February. In May, it dropped a lander containing Zhurong onto a vast basin known as Utopia Planitia. The rover’s initial mission was intended to be only about three months long, but it has exceeded expectations. Over a period of four months, the rover travelled more than 1,000 metres, visiting features of interest and even investigating part of the capsule that brought it to the surface, along with the remains of the descent parachute.
Pause in communications
In September, Zhurong was powered down into hibernation by the China National Space Administration (CNSA) because Mars had passed behind the Sun, relative to Earth, meaning that communication was lost. However, in October it was powered up again, and has traversed another 200 metres in the direction of what may once have been the coastline of an ancient ocean.
The month-long break offered mission scientists at research institutes across China a chance to start analysing data. Some researchers had already received images of Mars from the orbiter’s cameras in March, and the CNSA had previously shared with the public images and videos taken by the rover during its descent and from the surface. But now researchers are studying the much larger volume of data released in September.
This data set includes images from Zhurong’s navigation camera; climatic data on temperature, pressure and wind speed; information on the chemical composition of rocks, soil and sand dunes from a laser spectrometer; and clues from below the surface from its ground-penetrating radar.
Apart from the handful of images and videos released by the CNSA, few scientific insights about the mission have been released or published until now. Researchers say this is because it has taken time to process and clean up the data.
Doing this ensures that the data are reliable and removes noise produced by the instruments, says Lu Pan, a planetary scientist at the University of Copenhagen. The fact that this mission is China’s first to the surface of another planet might also have slowed things down compared with NASA’s recent Mars missions. “If this is the first time you do it, there’s a learning process,” she says.
David Flannery, an astrobiologist at Queensland University of Technology in Brisbane, Australia, who is in communication with scientists in China, says that the team’s approach to managing data could also have contributed to the delay in releasing new insights. With NASA’s Perseverance mission, which Flannery is involved in, each instrument on the rover is designed by a different team, which has exclusive access to data from that instrument for a few months before it becomes available to all.
But under the CNSA model, the data generated for all the instruments on Zhurong and Tianwen-1 are processed by the NAOC, before making the information available to multiple teams of scientists linked to the mission.
The CNSA released this image in July of the view from the lander up towards the parachute as it drifted down to the surface of Mars.Credit: CNSA
Speeding up the analysis
Two publications have already emerged. One study1, posted as a pre-print in late September, analysed images and information on friction that were gleaned from the movement of Zhurong’s wheels. The results show that regions of Mars that the rover trundled over have properties similar to those of compact, sandy soil on Earth.
The study “provides useful data about surface soil properties”, says Xiao Long, a planetary geologist at the China University of Geosciences in Wuhan. This might be helpful for understanding how soil and dust on the surface formed, says Long, who is also conducting his own analysis.
A second study2, published in August, used high-resolution images from the orbiter to pinpoint the rover’s precise coordinates on Mars. But researchers say that many more studies are expected soon, including some on the region’s topography.
So far, the data has been shared only with researchers directly involved with the mission, but Wu says that the NAOC will at some point release them to the public and the international community.
That could help to speed up the analysis. Scientists with more experience of Mars might be able to recognize features of interest and their significance more quickly, says Flannery. “Mars is peculiar in some ways, and geologists are only as good as the rocks they have seen in the past,” he adds.
Next phase of the mission
Zhurong will now continue to explore, potentially for years, as some of NASA’s Mars rovers have.
Tianwen-1 has also been busy. The spacecraft recently adjusted its orbit and switched from acting mainly as a communications relay between Zhurong and Earth to also conducting its own observations of Mars. Wenzhe Fa, a planetary scientist at Peking University, Beijing, who is analysing Zhurong’s radar data, says that on 11 November, the CNSA deployed and began to test the antenna for the orbiter’s radar.
Also earlier this month, the CNSA and the European Space Agency (ESA) trialled whether the ESA’s Mars Express orbiter could be used to relay Zhurong’s data to Earth — an exercise that Pan says is an “amazing step” towards increased international collaboration with China.
As Zhurong resumes its journey, Bo says that he and his team are providing “suggestions for future data collection” that take in surface features of particular scientific interest.
Ukrainian President Volodymyr Zelenskyy has claimed that Russia amassed nearly 100,000 troops near his country’s border as concerns over an invasion continue to mount.
Zelenskyy said that the action made it clear to the world “who really wants peace and who is concentrating nearly 100,000 soldiers at our border” during a video speech broadcast Wednesday on his website.
Russia has dismissed any suggestions of an attack as inflammatory, instead complaining about increased activity by NATO in the region, Reuters reported.
Ukraine’s President Volodymyr Zelenskyy holds a bullet as he addresses the 74th session of the United Nations General Assembly, Wednesday, Sept. 25, 2019. (AP Photo/Richard Drew) (AP Photo/Richard Drew))
American officials consulted European allies on the situation, warning that Russia could attempt to invade the country in the near future.
US AUTHORITIES SEEK EXTRADITION OF RUSSIAN FOR ALLEGED RANSOMWARE MONEY LAUNDERING OPERATION
On Thursday, Russia claimed one of its fighter jets forced a British spy plane to change course after flying near Crimea, The Independent reported.
Lt Gen Ret US Army Ben Hodges delivers a speech at the Lviv Security Forum 2018, Lviv, western Ukraine, October 25, 2018. Ukrinform. (Photo credit should read MARKIIAN LYSEIKO / Barcroft Media via Getty Images)
Satellite images released Nov. 8 showed an estimated 90,000 Russian troops gathered at the Ukrainian border, prompting House Republicans to petition President Biden to deploy troops to the region. Retired Lieutenant General Ben Hodges told Fox News correspondent Jacqui Heinrich that Russia’s recent movements are a continuation of “what started back in April.”
BIDEN SAYS BELARUS-POLAND BORDER CRISIS IS OF ‘GREAT CONCERN’ AS MIGRANT SITUATION WORSENS
“They never really went back to their barracks, even though the Minister of Defense [Sergey] Shoigu said they were,” Hodges claimed, describing the new movement as “the next phase.”
U.S. Secretary of State Antony Blinken and Ukraine’s Foreign Minister Dmytro Kuleba (not pictured) hold a news conference following the U.S.-Ukraine Strategic Dialogue talks at the State Department in Washington, U.S., November 10, 2021. REUTERS/Leah Millis/Pool
He cautioned that Russia’s first move would not be a tank or a gunshot, but a cyber strike or “maybe turning off the gas or something” to create disruption.
U.S. Secretary of State Antony Blinken briefly discussed the situation at the Ukrainian border during a joint strategic dialogue last week, warning that Russia needs to avoid making “a serious mistake.”
Russian President Vladimir Putin speaks during a meeting with hight level officers and heads of defense industry enterprises in the Bocharov Ruchei residence in the Black Sea resort of Sochi, Russia, Monday, Nov. 1, 2021. Russian President Vladimir Putin on Monday emphasized the need to strengthen the country’s air defenses in the face of NATO’s moves. (Evgeniy Paulin, Sputnik, Kremlin Pool Photo via AP)
EU FACES DOWN FRESH CRISIS AT ITS BORDERS, AS OFFICIALS ACCUSE BELARUS OF WEAPONIZING MIGRANT SURGE
“We’re very concerned about some of the irregular movements of forces that we see on Ukraine’s borders,” Blinken said Friday. “I can’t speak to Russia’s intentions. We don’t know what they are, but we do know that we’ve seen in the past Russia mass forces on Ukraine’s borders.”
Blinken warned that Russia could claim “some kind of provocation” and then invade, following a plan that led them to establish control of Crimea in 2014. The U.S. remains in “close consultation” with its European allies as it continues to monitor the situation.
CLICK HERE TO GET THE FOX NEWS APP
“I can just say that based on the past, we have real concerns about what we’re seeing in the present,” Blinken explained. “And it would be a serious mistake for Russia to engage in a repeat of what it did in 2014.”
Ukraine’s president has said some 100,000 Russian troops are amassed near his country’s border, as the Kremlin rebuffed allegations that the buildup reflects Moscow’s aggressive intentions, saying Russia needs to ensure its security in response to alleged NATO threats.
“I hope the whole world can now clearly see who really wants peace and who is concentrating nearly 100,000 soldiers at our border,” Volodymyr Zelensky said in a video statement on his website, according to a Reuters translation.
Kremlin spokesman Dmitry Peskov dismissed Western media reports that Moscow has intentions to invade Ukraine as a “hollow and unfounded attempt to incite tensions.”
“Russia doesn’t threaten anyone,” Peskov said during a conference call with reporters. “The movement of troops on our territory shouldn’t be a cause for anyone’s concern.”
Ukraine complained last week that Russia has kept tens of thousands of troops not far from the two countries’ borders after conducting war games in an attempt to exert further pressure on its ex-Soviet neighbor. Russia annexed Ukraine’s Crimean Peninsula in 2014 and has supported a separatist insurgency that broke out that year in eastern Ukraine.
Get The Times of Israel’s Daily Edition by email and never miss our top stories
By signing up, you agree to the terms
The Ukrainian Defense Ministry says units of the Russian 41st army have remained in Yelnya, a town about 260 kilometers (about 160 miles) north of the Ukrainian border.
The commander-in-chief of the Ukrainian armed forces, Lt. Gen. Valeriy Zaluzhny, said Friday that Russia has about 2,100 military personnel in the rebel-controlled areas, noting that Russian military officers hold all commanding positions in the separatist forces.
Russia has cast its weight behind the separatist insurgency in Ukraine’s east that has left more than 14,000 dead. But Moscow has repeatedly denied any presence of its troops in eastern Ukraine.
US Secretary of State Antony Blinken assured the Ukrainian foreign minister, Dmytro Kuleba, in Washington this week that the US commitment to Ukraine’s security and territorial integrity is “ironclad.”
A reservist from the Ukrainian Territorial Defense Forces gets in an armored personnel carrier at a military training ground outside capital Kyiv, Ukraine, Saturday, Oct. 2, 2021. Ukraine has started the autumn call-up to the Armed Forces. (AP Photo/Efrem Lukatsky)
On Friday, Blinken pointed at Russia’s previous aggressive actions against Ukraine. “From what they’ve done the past, we have real concerns about what we’re seeing in the present,” he said.
“We don’t know Russia’s intentions,” Blinken told reporters in Washington. “But we do know that we’ve seen in the past: Russia mass forces on Ukraine’s borders, claim some kind of provocation by Ukraine, and then invade. That’s what they did in 2014.”
Blinken said the US was “in very close consultation with European allies and partners on this.”
Asked Thursday if Russia planned to invade Ukraine, Russia’s deputy UN ambassador, Dmitry Polyansky, replied that it “never planned, never did, and [is] never going to do it unless we’re provoked by Ukraine, or by somebody else.” He cited what he called many threats from Ukraine and allegedly provocative actions by US warships in the Black Sea.
Peskov similarly emphasized Friday that Russia needs to protect its security amid what he described as “increasing provocations” near its borders. He pointed at the US naval deployment to the Black Sea and increasingly frequent US and NATO intelligence flights.
“We take measures to ensure our security when our opponents take defiant action near our borders,” Peskov said. “We can’t stay indifferent to that; we must be on our guard.”
The Russian Defense Ministry described the deployment of the US warships USS Mount Whitney and USS Porter, which sailed into the Black Sea last week, as a “threat to regional security and strategic stability.”
“The real goal behind the US activities in the Black Sea region is exploring the theater of operations in case of Kyiv’s attempts to settle the conflict in the southeast by force,” the ministry said in a statement.
This handout photo released on April 22, 2021, by the Russian Defense Ministry Press Service, shows Russian military vehicles move during drills in Crimea. (Russian Defense Ministry Press Service via AP)
The reported Russian military buildup near Ukraine also raised concern in the European Union.
After discussing the issue with US President Joe Biden earlier this week, European Commission President Ursula von der Leyen said EU officials “fully support the territorial integrity of Ukraine.”
European Commission spokesman Peter Stano told reporters Friday that the bloc is discussing the situation with partners, including the US and United Kingdom, adding that “the information we gathered so far is rather worrying.”
French foreign and defense ministers expressed their concerns about the situation in Ukraine during Friday talks with their Russian counterparts in Paris.
Foreign Minister Jean-Yves Le Drian and Defense Minister Florence Parly “clearly warned of the serious consequences of any further possible damage to the territorial integrity of Ukraine,” the French Foreign Ministry said in a statement after the meeting.
French President Emmanuel Macron said later Friday he will speak with Russian President Vladimir Putin in the “coming days” about the situation in Ukraine and Belarus.
You’re serious. We appreciate that!
We’re really pleased that you’ve read X Times of Israel articles in the past month.
That’s why we come to work every day – to provide discerning readers like you with must-read coverage of Israel and the Jewish world.
So now we have a request. Unlike other news outlets, we haven’t put up a paywall. But as the journalism we do is costly, we invite readers for whom The Times of Israel has become important to help support our work by joining The Times of Israel Community.
For as little as $6 a month you can help support our quality journalism while enjoying The Times of Israel AD-FREE, as well as accessing exclusive content available only to Times of Israel Community members.
Coming every Saturday, Hodler’s Digest will help you track every single important news story that happened this week. The best (and worst) quotes, adoption and regulation highlights, leading coins, predictions and much more — a week on Cointelegraph in one link.
Top Stories This Week
Walmart seeks crypto product lead to drive digital currency strategy
On Aug. 16, it was reported that U.S. retail giant Walmart was seeking out an experienced crypto expert who can develop and drive a digital currency strategy and product roadmap for the firm.
According to the job listing, Walmart is looking for someone with a track record of leading and scaling businesses. They also want at least 10 years of experience in product/program management and tech-based product commercialization.
Ideally, the candidate should also know a thing or two about crypto, blockchain tech and why JPEGs of poorly drawn pet rocks are selling for absurd prices on Ethereum.
Walmart’s future digital currency and crypto product lead will be based in the company’s home office in Bentonville, Arkansas. The state has produced talents such as Billy Bob Thornton and Johnny Cash, along with Bill and Hillary Clinton.
Team officially reestablishes Dogecoin Foundation after 6 years
There was good news for Doge fanatics this week as the Dogecoin Foundation resurfaced after several years of total media silence.
According to an announcement on Tuesday, the foundation stated it was reestablishing itself in a bid to support the fiery-eyed Dogecoin (DOGE) community. The foundation also said it would be announcing new projects that are centered on encouraging adoption of DOGE and promoting its utility.
The project’s website lists Ethereum co-founder Vitalik Buterin, Dogecoin co-founder Billy Markus and Dogecoin Core developer Max Keller as advisory board members. Furthermore, Tesla CEO and DOGE proponent Elon Musk’s interests may be catered to from the shadows via Neuralink CEO Jared Birchall.
It is yet to be revealed if Musk’s “toddler hodler” son has loaded up on DOGE in light of the announcement.
Coinbase amasses a $4B war chest so it can outlast ‘crypto winter’
Coinbase, the top U.S. crypto exchange, has amassed a cash-based war chest worth $4 billion on the back of two very productive quarters for the firm.
The company reportedly expected to use the cash to cover costs incurred by a variety of factors, including conforming to new regulations handed down by the United States legislature.
Coinbase has also announced its official launch in Japan in partnership with banking giant Mitsubishi UFJ Financial Group, while also revealing plans to add $500 million worth of crypto to its balance sheet and invest 10% of all generated profits into digital assets moving forward.
Winners and Losers
At the end of the week, Bitcoin is at $48,778, Ether at $3,282 and XRP at $1.28. The total market cap is at $2.09 trillion, according to CoinMarketCap.
Among the biggest 100 cryptocurrencies, the top three altcoin gainers of the week are Avalanche (AVAX) at 105.79%, Arweave (AR) at 96.17% and Audius (AUDIO) at 93.78%.
The top three altcoin losers of the week are DigiByte (DGB) at -5.06%, Celsius (CEL) at -4.44% and BitTorrent (BTT) at -3.81%.
For more info on crypto prices, make sure to read Cointelegraph’s market analysis.
Most Memorable Quotations
“Poly Network has no intention of holding Mr. White Hat legally responsible, as we are confident that Mr. White Hat will promptly return full control of the assets to Poly Network and its users. As we have stated in previous announcements and encrypted messages that have been made public, we are grateful for Mr. White Hat’s outstanding contribution to Poly Network’s security enhancements.”
Poly Network team
“Lawmakers and regulators must work together to properly balance protecting innovation with any new regulations to ensure the digital asset marketplace flourishes in the United States.”
Glenn Thompson and Patrick McHenry, U.S. representatives
“The most important thing that can be done today is moving away from the idea that coin voting is the only legitimate form of governance decentralization.”
Vitalik Buterin, Ethereum co-founder
“Here at home in America, […] our payments infrastructure is arguably the worst of any developed country in the world, and increasingly falling behind, while China is moving with determination and haste to build an infrastructure that will make the digital yuan a challenger to the dollar as the world’s reserve currency.”
David Marcus, Diem co-creator
“Ethereum is outperforming Bitcoin, and it can be expected to continue this trend for the rest of 2021.”
Nigel Green, CEO of DeVere Group
“This is all about DeFi. […] This is the Treasury Department trying to work out how to get jurisdiction over DeFi […] and also expand its warrantless surveillance over a peer-to-peer financial system.”
Jake Chervinsky, general counsel at Compound
“Frankly, as one of the first pilots, we have on the table the question of paying salaries to employees of the Ministry of Digital Transformation in electronic hryvnia.”
Mykhailo Fedorov, vice prime minister of Ukraine
“It’s important to remember that when we look at the business, the long-term arc of adoption of digital assets in crypto matters far more than the businesses we are building.”
Mike Novogratz, founder and CEO of Galaxy Digital
Prediction of the Week
Ethereum ‘liquidity crisis’ could see new ETH all-time high before Bitcoin — Analyst
Bitcoin, the crypto industry’s largest asset by market cap, and Ethereum (ETH), the second-largest asset, have both posted notable price recoveries over the past several weeks. Although BTC has yet to be surpassed as the crypto industry’s top dog, ETH might tap its own all-time price high near $4,400 sooner than BTC reaches its record level of nearly $65,000, according to thoughts from CryptoQuant CEO Ki Young Ju.
“$ETH might reach its all-time high earlier than $BTC in the long term,” Ju tweeted on Wednesday. “Current $ETH price is closer to ATH compared to $BTC. Higher demand, lower supply. $ETH sell-side liquidity crisis still intensifies, while $BTC exchange reserve stopped its downward trend in May.”
On Friday, BTC fluctuated above the $48,000 mark, and ETH traded above $3,200 — which, however, are both still notably shy of their record highs.
FUD of the Week
JPMorgan Chase reportedly shuts down bank accounts of Bitcoin mining firm
On Aug. 19, U.S. banking behemoth JPMorgan Chase reportedly blocked all account activities of Bitcoin mining firm Compass Mining.
Whit Gibbs, the CEO of Compass Mining, took to Twitter to share the news:
“Shoutout to @Chase for shutting down @compass_mining accounts for doing our part to replace the old guard with self-sovereign, future-focused supporters of hard money. Get behind #Bitcoin or get out of our way.”
It is unclear if the temper tantrum will be enough to sway JPMorgan Chase to change its mind, and it is also unclear how shutting down banking services to one Bitcoin mining firm represents an attack on BTC in any way.
If anything, the banking giant has been upping its exposure to Bitcoin and the crypto sector in 2021.
Liquid exchange hacked to the tune of $80 million
Liquid, a Japanese crypto exchange, was the victim of a $80 million-plus hack this week which made the platform not so… liquid.
Cointelegraph reported on the news quickly after the exchange announced the attack, which compromised digital assets including BTC, Tron (TRX), Ripple (XRP) and Ether.
The exchange explained that only its hot wallets were affected and added that its assets were being moved into cold storage for security purposes.
The platform has since provided an update and revealed the hack totaled $91.35 million. The firm has urged users to not deposit any crypto assets in Liquid wallets until further notice.
T-Mobile looking into potential hack of data on 100 million customers
Speaking of hacks, U.S. telecom giant T-Mobile was looking into an alleged massive data breach at the start of this week that may have compromised the information of more than 100 million users.
According to Vice’s Motherboard, T-Mobile is looking into a potential data breach claimed by an author who posted details on an underground forum. A Sunday report said the hacker claims to have obtained data on more than 100 million customers from T-Mobile servers.
Unlike the Poly Network hacker, who syphoned $600 million worth of digital assets because “cross-chain hacking is hot,” the T-Mobile hacker seems to be displaying entrepreneurial instincts, as they were asking for 6 BTC — worth around $280,000 at current prices — in exchange for some of the data.
Best Cointelegraph Features
Shanghai Special: Crypto crackdown fallout and what happens next
Owning Bitcoin isn’t banned, but many fear for the future of regulations in China. Here’s a look at where we stand and where we might be headed.
Poly Network hack exposes DeFi flaws, but community comes to the rescue
The DeFi hacker’s initial intentions remain unclear, but they refused to accept a $500,000 bounty after returning all funds.
The perfect storm: DeFi hacks will advance the crypto sector moving forward
There is a silver lining from the DeFi hacks as new tech develops to protect the sector: “DeFi will be much safer in 12 months from now.”
