Highlights:
Down week across the board with Chainlink (LINK) outperforming. SEC vs Coinbase face off in court, some BTC ETF, ETH ETF news and BTC updated correlation matrix.
Let’s go:
SEC vs Coinbase:
https://blockworks.co/news/judge-questions-sec-limits-coinbase-hearing
https://www.axios.com/2024/01/17/coinbase-sec-crypto-court-securities
https://www.coindesk.com/policy/2024/01/20/the-sec-goes-back-to-court/?
Here's a summary of the main arguments from both parties:
SEC
The SEC argued that token buyers are investing in a particular network or ecosystem, indicating that there is a value proposition behind the tokens purchased.
Additionally, they also claimed that Coinbase is trying to create a different Howey test, referencing that the application of the Howey Test used in the ruling against Terraform Labs last year is identical to the one being used against Coinbase.
Coinbase
Representatives of Coinbase challenged that Bitcoin - which had been referenced as a commodity by the SEC - was also backed by a community and network.
Unlike the case against Terraform Labs, Coinbase contended that they were only facilitating secondary market transactions, and no private relationships existed between investors and the company. In the case against XRP, it was ruled that secondary market transactions of XRP were not the same as investing in Ripple.
Besides that, Coinbase argued that users trading tokens may or may not seek profit from their investment and have no legal rights over a project, which does not fall within the Howey test.
Presiding judge Katherine Faila is weighing up whether to dismiss the case brought forth by the SEC.
If the case is not fully dismissed, it will then move on to trial and the discovery stage, where both sides will present documents and information before making arguments.
US BTC Spot ETFs:
Food for thought (already mentioned this before) - Custody concentration:
US ETH Spot ETF delays:
BTC correlations:
https://www.theblock.co/post/273540/bitcoin-ether-correlation
https://cointelegraph.com/news/bitcoin-gold-correlation-surges-2023
MK Opinion
Not surprised by all articles mentioned above. Contact me for more details.
Coin | Other News:
Ethereum (ETH) upgrades:
Crypto EU AML:
Ripple (XRP):
https://www.ledgerinsights.com/is-ripples-share-buyback-positive-or-negative/
https://www.coindesk.com/tech/2024/01/15/in-failed-bitfinex-exploit-attempt-billions-in-xrp-moved/
Manta Network (MANTA):
https://beincrypto.com/binance-launchpool-manta-network-money-laundering-bithumb/
https://www.coindesk.com/tech/2024/01/19/manta-network-hit-by-ddos-attack-day-after-token-issuance/
TrueUSD (TUSD) Depeg (Linked to Justin Sun):
More Justin Sun (HT-HTX): HTX to List HTX DAO ($HTX) and Support Conversion from $HT to $HTX
Harmony (ONE) Controverse:
Filecoin (FIL):
Chainlink (LINK) integrates with Circle:
Cleaning up:
GameStop NFT:
Hedera (HBAR):
Uniswap (UNI):
dYdX (dYdX):
Tether (USDT):
https://cointelegraph.com/news/cantor-fitzgerald-head-tether-reserves-they-have-money
https://www.theblock.co/post/273338/tether-bitcoin-holdings-latest
Algorand (ALGO) upgrades:
Fantom (FTM):
2023 Volumes:
https://cryptobriefing.com/crypto-trading-volume-surpasses-36-trillion-2023-coingecko/
https://blockworks.co/news/nft-trading-volumes-fall-from-2022
Hut 8 (HUT) miner stock:
https://cryptonews.com/news/btc-miner-hut-8-accused-of-a-pump-and-dump-scheme-hut-shares-plummet.htm
Crypto & God…..
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 next year holds exciting possibilities for the crypto and blockchain space.
Strategy will be available (expected Launch 1st of February) through https://treecap.nl/.
The TreeCap funds are structured as an investment fund AIFMD. The manager is registered under the AIFMD Light Regime
Long Only | No Leverage (Spot) | 20-30 liquid digital assets in portfolio | Long-Term Horizon
1.8% Management Fee | 20% Performance Fee | High-water mark;
Press release: https://www.linkedin.com/feed/update/urn:li:activity:7148424298364379136/
Phase II (2024-2025): Long-Short Strategy and Fund of Funds (FoF)
Backtest Performance 2023 +78% EUR net return after all fees:
*Returns excluding: staking income, additions/deletions, rebalancing, core & satellite trading and including all fees. Source: CoinMarketCap.
Prime Broker through Amdax in which we will have access to professional liquidity providers, staking options as well as institutional grade custody. Amdax is the trusted custodian in the Netherlands, registered with De Nederlandsche Bank and the AFM. Amdax's vault is the first crypto service provider in the EU to achieve the prestigious ISAE-3000 Type-1 audit.
If you would like to express your interest or have any questions, please reach out to us anytime:
mathijs@treecap.nl | investors@treecap.nl | +31655003160
+31208204710 | Visiting Address: Beursplein 5 Amsterdam. The Netherlands
MKs Short Term Risk Report:
Justin Sun (TRON, Huobi)
SEC / Regulatory
USDT
US Government forced BTC selling
FTX / Celsius unwind
Capital Markets in general (China, Credit Event / Yields, FED not delivering)
Escalation in the Middle East, Taiwan-China
About M2tK:
Transparency Accountability Trust
Established in 2022, M2tK Consultancy B.V. stands as a boutique firm, specializing in digital assets and catering to the discerning investor with a long-term time horizon. Together with leading partners in the industry, we make digital assets investing trouble-free, compliant and secure.
Our Edge: Drawing from over five years of comprehensive blockchain research along with a 25-year legacy in financial markets, we are empowered to make informed decisions and proactively stay ahead of the curve in the ever-evolving digital asset landscape. Unique value propositions will become critical as projects strive to stand out in an increasingly crowded space. There is no substitute for fundamental research: https://www.m2tk.com/about/investment-thesis
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
Upcoming Events:
Will be attending the following conferences/events:
N/A
Agenda:
Sort by “Conference”:
Tokens:
Unlocks:
Have a wonderful Sunday and thanks for reading!
No investment advice etc. Links to third party websites are provided as a convenience and the inclusion of such links does not imply any endorsement, approval, investigation, verification or monitoring by us of any content or information contained within or accessible from the linked sites. By clicking on the link, you acknowledge that you are entering a third-party website subject to its own terms and conditions. M2tK disclaims responsibility for content, legality of access or suitability of the third-party websites.