This is Matt Reustle and it's that time again - our 3Q 2022 quarterly recap. If you listened to our second quarter episode, that was a recap of carnage. A "what the hell just happened" episode. For this go-around, Eric helps assess the damage and signs of light in the market. The tide came up, we know who was swimming naked; but who was an emerging winner in Eric's mind? Spoiler alert - it's not just SBF. We cover early takeaways from the Ethereum merge, his observation on the convergence between traditional finance and crypto, and why Eric is so interested in the Bitcoin mining market in 4Q. Please enjoy this quarterly recap.   For the full show notes, transcript, and links to the best content to learn more, check out the episode page here.   -----   This episode is brought to you by Coinbase Prime. Coinbase Prime combines advanced trading, battle-tested custody, financing, and prime services in a single solution. Clients have used our comprehensive investing platform to execute some of the largest trades in the industry because they are the only publicly-traded company with experience trading and custodying crypto assets at scale. Get started with Coinbase Prime today at coinbase.com/prime.   -----   Web3 Breakdowns is a property of Colossus, LLC. For more episodes of Web3 Breakdowns, visit joincolossus.com/episodes.   Stay up to date on all our podcasts by signing up to Colossus Weekly, our quick dive every Sunday highlighting the top business and investing concepts from our podcasts and the best of what we read that week. Sign up here.   Follow us on Twitter: @Web3Breakdowns | @ericgoldenx | @patrick_oshag    Show Notes [00:02:22] - [First question] - General thoughts and most memorable points of Q3 2022 [00:06:52] - Getting comfortable with the idea of a floor in an industry without the means of being bailed out by something like the Fed [00:11:54] - The level playing field and other players that have come out looking strong given the downside in the market [00:15:13] - A quick recap of the Ethereum merge, current takeaways, and the road ahead [00:21:06] - Whether or not there’s a way to measure the merge’s success going forward [00:25:46] - The ultimate vision for Ethereum staking and its reward system [00:27:22] - Whether or not leverage is what brought the system down [00:30:43] - Major institutional momentum and adoption in crypto [00:34:36] - The growth equity trolls were louder than the crypto trolls and crypto social stigma [00:41:47] - Sentiments around the new wave of Free-To-Own NFTs [00:45:16] - Material impacts on NFTs with a trend towards creative commons licensing and the experimentation phase of Intellectual Property  [00:50:15] - What’s driving his interest around Bitcoin mining in the near future