Highlights:
FED dovish tone or at least the market interpreted that way and digital assets jumped considerably (surprising) after correcting (no surprise) earlier in the week. In less than 24 hours, the US dollar was back in favour affecting crypto prices negatively with a small weekend pump on Saturday on low spot volume. Volatility is all around…..
Ethereum foundation faces inquiry from “a Government”. Investment management giant BlackRock has created a fund called the BlackRock USD Institutional Digital Liquidity Fund.
Here we go:
Bitcoin (BTC):
https://www.theblock.co/post/283583/spot-bitcoin-etf-cumulative-trading-volume-150-billion-usd
https://www.theblock.co/post/284033/jpmorgan-bitcoin-overbought-territory
https://www.theblock.co/post/283948/bernstein-bitcoin-2024-price-target-90000-usd
Ethereum (ETH):
https://protos.com/ethereum-foundation-ditches-warrant-canary/
https://www.dlnews.com/articles/markets/why-some-dont-want-an-ethereum-etf-to-get-approved-in-may/
BlackRock - Securitize Tokenization:
MK Opinion
The ETH foundation headlines and the Fortune article are a bit puzzling although I do not believe the SEC will succeed if they go that (nuclear) route. Already we have ETH Futures and futures based ETF so this is directly challenging the CTFC’s commodity perspective.
https://twitter.com/EleanorTerrett/status/1765544003372519757
With BlackRock creating its first fund on the ETH blockchain even more intriguing.
Next to that,the SEC is 0-1 down vs Ripple (If anything is close to a security then it is Ripple with a 95% pre-mine and heavily centralized).
Finally, Thanks to the release of the Hinman emails, we know the SEC met with ethereum founder Vitalik Buterin in 2018 to discuss the role of the ethereum
foundation. After that meeting, the head of the SEC’s Department of Corporation Finance, Bill Hinman, would go on to declare BTC and ETH outside of the agency’s regulatory purview, a position it apparently maintained until recently.
In any event no chance of an ETH Spot ETF this year as predicted, let alone Ripple or Solana ETFs.
More worried (although I could not care less) from a regulatory standpoint about all the “pre-sale” crap happening on Solana and DogWifHat “advertising” on the Las Vegas Sphere.
To be continued with Gary Gensler’s finest moments:
Gensler latest remarks on Friday:
SEC/Regulatory risk mentioned in my short term risk report for a while…
Coin | Other News:
Goldman Sachs on public blockchains (Probably Nothing…………):
Polygon (MATIC):
Coinbase adding futures on useless coins:
Fantom (FTM):
Liquidity:
OKX cancels USDT pairs in EU:
Bitmex Bitcoin flash crash:
Cardano (ADA):
Kraken:
Coinbase L2 Base:
Ripple (XRP) vs SEC:
TreeCap Blockchain Technology Strategy: Secure Sustainable Investing
The crypto landscape in 2024 promises a dynamic and transformative journey. As institutional involvement grows, technology advances, and novel ideas emerge, the industry is set to overcome challenges and redefine the future of finance and technology. From maturing tokenization projects to the integration of blockchain into physical infrastructure, the future holds exciting possibilities for the crypto and blockchain space. Crypto: From Speculation → Utility → Fundamentals
Feb24 model portfolio return +54.7%*
* Returns until March2024 excluding: staking income, additions/deletions, rebalancing, core & satellite trading and including all fees. Source: CoinMarketCap.
If you have any questions, please reach out to me anytime:
mathijs@treecap.nl | Mobile: +31655003160
Tel: +31208204710 | Visiting Address: Beursplein 5 Amsterdam. The Netherlands
MKs Short Term Risk Report:
Justin Sun (TRON, Huobi)
SEC / Regulatory
USDT
US Gov / Celsius / Genesis unwind
Capital Markets in general (China, Credit Event / Yields, FED not delivering)
Escalation in the Middle East, Taiwan-China
Euphoria, Parabolic Gains, Meme coin Frenzy, excessive leverage
The week ahead by Nomura and Livesquawk:
https://www.nomuraconnects.com/focused-thinking-posts/the-economy-next-week/?
https://www.livesquawk.com/report/special_ls-focus-on-the-week-ahead
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Have a wonderful Sunday, and thanks for reading!
No investment advice. The digital assets discussed within this newsletter are highly volatile and may result in partial or permanent loss of your investment. Before investing, please carefully consider your investment objectives, level of experience and risk appetite. It is important that you consult with your own advisors as to the legal, tax and financial implications of your investments.
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