Transcript
Introduction
Eric
This is Eric Golden and today we wanted to try something a little bit different. We're going to do a quarterly recap, similar to investor letters that are so common in traditional financial markets, where investors write a letter to their shareholders, telling them what's been going on in the market, how they're positioned. We thought it would be fun to try to cover the most interesting topics across Web Three that happened this past quarter by gathering questions from our listeners. Today, I'm joined by Matt Reustle of Colossus to kick it off.
Broad Performance Review
Matt
Hey, Eric, happy to pitch in and ask some questions. Thanks to the community for submitting everything. It was awesome to see the group of people that have been following us since the beginning and the growing listener base, and to see everybody involved. It's just awesome to see all of our different communities at Colossus grow. I think we can kick things off at a very, very broad level. The first quarter was active, regardless of what market you were in. It was, I think, classified by a lot of volatility, but if you just went to bed on December 31st and then woke up at the end of March, you would be looking at Bitcoin down just under 2%, 1.7%, Ethereum down about 10%. Then just for some context, the S&P was down about 5% and the NASDAQ was down about 9%, so just at a very broad level, what are your takeaways when hearing those numbers in reference to everything that was going on in the quarter and the performance?