Newsletters - The Assets

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A collection of 56 posts

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The Digital Assets Report 109

Summary * SVB the 16th largest US bank, is the most important bank failure since 2008 financial crisis. * In the wake of SVB, Signature and Silvergate banks, the 2 largest banks operating as the "backbone" of the crypto industry in US went to bankruptcy also. * Stablecoin USDC has de-pegged

The Digital Assets Report 108

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The Digital Assets Report 108

Summary * Silvergate bank in the turmoil : $8.1 billion Capital outflow (60% of AuM) only in Q1, terrible results of $1 billion loss. The bank has delayed its annual report to repay debts this year and was evaluating the impact of these events on “its ability to continue as a

The Digital Assets Report 106

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The Digital Assets Report 106

Summary * S.E.C.'s decision to charge the crypto exchange Kraken with securities violations regarding its staking services. Funds were not directly staked to the dedicated Blockchain but instead managed by Kraken pool to avoid unstaking period. SEC considers the staking service close to lending activities. To settle

The Digital Assets Report 100

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The Digital Assets Report 100

Summary * Digital Assets exchange Bitvavo can’t access €280 million euros on Genesis Global Capital (subsidiary of Digital Currency Group). * Genesis claims are selling for 35p to the Dollar, reminds FTX before bankruptcy. Genesis Capital suspended withdrawals last month following a $1.2 billion loss to defunct crypto fund Three

The Digital Assets Report 99

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The Digital Assets Report 99

Summary * SBF charged with conspiracy, wire fraud, money laundering by justice department, securities violations by SEC. * FTX CEO John Ray III is scheduled to testify before the House Financial Services Committee on Tuesday. * Binance tried to reinsure clients with its Proof Of Reserve but faced headwinds from audit experts highlighting

The Digital Assets Report 98

The Digital Assets Report 98

Summary Despite market turmoil, we saw a rebound that could be a bull trap but highly driven by strong long term sentiment of current BTC and ETH holders. * Goldman Sachs sees crypto investment opportunities after FTX fiasco. * Silvergate is under market scrutiny and stocks are stress tested following FTX and

The Digital Assets Report 96

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The Digital Assets Report 96

Summary FTX contagion turns to Genesis , rising fears with GBTC FTX signed for Bankruptcy a week ago , evidence exposed: * FTX owes to its top 50 creditors more than $3 billion. * FTX ex-CEO Sam Bankman-Fried (SBF) over $1 billion for personal use and $543 million to the Director of Engineering Nishad

The Digital Assets Report 94

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The Digital Assets Report 94

Summary * The FTX domino continues with markets scrambling due to the fall of FTX platform from $32 billion to 0 in few days. * In the latter hours of Friday evening, FTX founder Sam Bankman-Fried secretly moved $10 billion in funds to Alameda trading firm via software "backdoor." * FTX&

The Digital Assets Report 85

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The Digital Assets Report 85

Business Mining * Bitcoin difficulty increases of 9.26%, the highest since January 2022, with an average hashrate of 221.72 EH/s, close to all-time-high. * US bitcoin corp, Genesis Digital Assets, Marathon Digital Holdings, Blockware announce new mining farms in US. * Last month, miners in Texas suspended operations to help

Digital Assets Report 84

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Digital Assets Report 84

* Ethereum Foundation Announces Official Date for the Merge which should occur at 11:34:47 AM UTC on September 6, 2022. * Fed Chair Jay Powell said, “Restoring price stability will likely require maintaining a restrictive policy stance for some time. The historical record cautions strongly against prematurely loosening policy”. After

Digital Assets report 81

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Digital Assets report 81

* Blackrock partners with Coinbase to offer institutional clients access to Crypto services. * Virginia based pension fund invests into Yield Farming strategies. * Instagram support for NFTs expanded to 100 countries. * Voyager Digital announces plan to resume Cash withdrawals this week. * 7'000 Solana wallets get emptied as network experiences another

Digital Assets Report 80

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Digital Assets Report 80

* Schwab Asset Management launches its first Crypto ETF. * Crypto Fund Variant raises $450 million to back Web3, DeFi projects * Ethereum's final testnet merge set for early August. * Bitcoin rallies to monthly high of $24.5k before cooling off to back down to $22.9k at the time of

Digital Assets Report 79

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Digital Assets Report 79

* Vitalik Buterin shares his vision of Ethereum and outlines the various stages of the network's development. * Christie's plans investments into web3, blockchain with new venture fund and Skybridge Capital plans to launch a specific web3, crypto-focused fund. * BNP Paribas partners with Metaco to offer crypto solutions.

Digital Assets Report 78

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Digital Assets Report 78

* Crypto lender Celsius acknowledges $1.2bn hole in balance sheet after filing for bankruptcy protection, faces a new lawsuit accusing the firm of having run a 'Ponzi scheme' and was able to pay off its last DeFi loan to Compound. * Three Arrows Capital fund founders Su Zhu &

Digital Asset Report 76

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Digital Asset Report 76

* Three Arrow Capital hedge fund is highlighting the intrication of over leveraged CeFi and DeFi. * Lenders are pulling out their liquidities of the crypto markets, hedge funds & market makers have difficulties to operate. Liquidations seems not be finished yet. * Celsius with 1.7 million users unable to withdraw their

Digital Assets Report 75

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Digital Assets Report 75

* The staked DeFi variant of ETH, stETH loses its peg to ETH and causes an 11% sell off in the token and forces the Celsius lending platform to suspend withdrawals due to a liquidity crisis. * Traditional Finance players further delve into Crypto as Citadel, Fidelity & Charles Schwab to launch

Digital Assets Report 75

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Digital Assets Report 75

* Institutions remain active in the crypto space as Fidelity Investments is set to offer trading and custody for Ether, Binance Labs launched a $500m Web-3 Fund and Japanese Exchange SMBC announced the launch of a Security Token Exchange in 2023 and more. * A bug halted the Solana blockchain for four

Digital Assets Report 74

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Digital Assets Report 74

* Institutional activity in crypto remains significant as a16z raises a record-breaking $4.5bn crypto-fund, JP-Morgan considers tokenizing equity & Ethereum scaler Starkware raises $100m amongst more. * The Ethereum Chain faced a seven-block reorganization as a valid transaction sequence was knocked off, which caused an 11% price correction in Ether &

Digital Assets Report 73

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Digital Assets Report 73

* Institutional adoption of Digital Assets continue as a16z launches new Metaverse fund, Brevan Howard Hedge Fund raises funds from banking giants Goldman Sachs & Barclays, and Nomura forms an institutions focused crypto unit. * Vitalik Buterin claims that Ethereum merge could happen by August. * Bitcoin & Crypto markets trade sideways after

Digital Assets Report 72

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Digital Assets Report 72

* The stablecoin TerraUSD (UST) depeg has led to the most important deathspiral in only a week with over $40 billion of value between UST and LUNA destroyed. * UST crash has impacted the whole crypto market with $1 Trillion in market cap meltdown. * Luna Foundation Guard tried to maintain the 1:

Digital Assets Report 71

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Digital Assets Report 71

* Jane Street & Crypto Hedge Fund Blocktower partner with Clearpool to offer institutions access to permissioned pools. * Binance contributes $500 million to Twitter takeover. * Bitcoin drops to low last seen in July 2021 as Crypto market tumbles. * Argentinian Central Bank prohibits institutions from offering clients digital assets services. Business Jane

Digital Assets Report 70

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Digital Assets Report 70

* Pension Fund manager Fidelity to offer Bitcoin investments * Blackrock launches a Blockchain ETF * Bitcoin sits at $38.6k and continues to trade in sideway price action * Central African Republic makes Bitcoin legal tender * State of New York bans new crypto mines that use non-renewable power Business Fidelity To Allow Bitcoin

Digital Asset Report 69

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Digital Asset Report 69

* Goldman Sachs seeks collaboration with FTX as CEOs meet * Crypto Traders made a $163 billion profit in 2021 according to new study by Chainalysis * Bitcoin & Ether continue to trade in a tight channel * New York to vote on bill which could make it the first state to ban Bitcoin

Digital Assets Report 68

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Digital Assets Report 68

* BlackRock participates in Circle's $400 million Funding Round * US Treasury links $622 million Ronin exploit to North Korean hackers * BTC price consolidates around $40k level as US inflation hits highest level since 1981 * Portuguese regulator grants first Crypto License to a Bank * Biden nominates former Ripple advisor for

Digital Assets Report 67

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Digital Assets Report 67

* Luna Foundation Guard & Micro Strategy purchase more Bitcoin * Cash App & Bitpay integrate 'Bitcoin Lightning Network' * BTC drops below $42k as Crypto Market Cap drops below $2tn * UK to regulate stablecoins in push to become a Crypto Hub Business Luna Foundation Purchases 4,130 Bitcoin Bringing its