Few people make the career transition from “steadily” mainstreaming financial news to writing a book on the “risky” crypto space.
We are talking about Camilla Russo, the rock star writer behind cult favorite “The Infinite Machine” – a report on the “past, present and probable future” of Ethereum.
For those who don’t know, Russo covered the financial markets at Bloomberg for eight long years before falling into the infinite rabbit hole that the crypto market is. Bitcoin piqued their interest at the time, followed by a brief dip into the incredibly beautiful world of Ethereum.
Since mid-2019 Russo has been concentrating on researching and updating the steadily growing decentralized financing (DeFi) through their hit newsletter The defiant one– which has since become one of the most widely read newsletters in crypto circles.
Today Russo sat down with me Alex Fazel, the always charming host of the crypto edutainment channel Kryptoniteto discuss her journey into the crypto space, her experiences writing the book on Ethereum, her prospects for the current and future market among others.
Here is a snippet of what they discussed.
From Bloomberg to crypto
Russo started the session with a short report on how she found her way into the crypto world: “I was at Bloomberg for eight years, started there as an intern in New York and when a location was supposed to cover the markets there and there was actually in Argentina when I first wrote about Bitcoin in 2013 and saw Argentinians using cryptocurrency to protect against inflation in currency controls, ”she recalled.
“Then I spent some time in Spain covering European stocks, and then again in New York in 2017 and 2018, where I worked as a macro market reporter for the US Bloomberg markets live blog. And I took this opportunity to write about crypto again, as you know, there was a big boom in 2017 and (I) wrote about the space every day, which is all the weirdness, revolutionary technical and (other) aspects of crypto covered it. I really saw the tremendous potential it had, and and I really enjoyed covering this like a fast-paced, racy space that was basically never, ever left, “she remarked.
It was around this time that the idea for The Infinite Machine came up: “At the end of 2017, I decided to write a book about the history of Ethereum. I studied Harper Collins and then spent most of 2018 between writing the book and my time as a journalist Bloomberg. But at the end of 2018 I decided that I had to really focus on getting my book done and the best I could. And then I also decided that eight years with the same company was enough time and I was ready to do something different and be independent. So I decided to leave Bloomberg in early 2019, ”she said.
The ICO train
For part of the Cryptonites segment, Russo dealt with the now forgotten but always infamous ICO (Initial Coin Offering) phase of the crypto market. For those who weren’t around, bedroom projects, downright scams, and a mere website scam grossed $ 18 million in 2017, promising revolutionary Tech and other otherworldly ideas.
What was delivered instead was … um, literally nothing. Millions disappeared and only a handful of players (like EthLend (now Aave)) Havven (now Synthetix)) made it to the other side and actually provided useful technology.
Russo notices the good side of autumn, however. “The ICO mania; There is a lot to criticize there. But essentially it was the first time people got decentralized funding, which is pretty revolutionary, ”she said.
The author added, “I think ICOs have a really bad rap, but it actually enabled something that is pretty radical as central fundraising.”
(What does Russo say about Bitcoin? Where does DeFi look from here? What about NFTs? This and MUCH more in the entire 39-minute interview with Cryptonites, available for streaming right below!)
Get one Edge on the cryptoasset market
As a paid member, access more crypto insights and context in every article CryptoSlate Edge.
Sign up now for $ 19 / month. Discover all the advantages
Do you like what you see? Subscribe to updates.