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Exiting my stablecoin positions and swapping remaining cryptos except for DFI into BTC and ETH
By Finance Smiths  •  May 16, 2022
In the aftermath of the LUNA price collapse, my cash position was running low because I had averaged down on my tech stocks and crypto positions. Based on what I can see from the consequences of the UST de-peg, it seems like regulation is coming hard for stablecoins. I decided to transfer my USDC and USDT holdings from Hodlnaut to Crypto.com, sell them for SGD and transfer the cash out into my bank accounts. Along with the higher than average dividend income to be received this month, it will top up my cash balance to a point where I’m more comfortable in preparing for a possible recession and worsening bear market. On Coinhako and Crypto.com, I swapped and sold almost all of my remaining crypto holdings into BTC and ETH. Other than de-risk move 1 above by existing my stablecoin positions, this is de-risk move 2 by only having BTC...
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By Finance Smiths
Late 30’s couple with 2 small kids living in Singapore writing about our financial progress as a family.
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