Mando Minutes

Things I’m looking at today…

Crypto decouples from macro, SEC delays ETF, Pudgy Penguins come to Walmart

Crypto

• Crypto rises 0.5-1% despite macro weakness

• BTC miners sold $130m in last week

• BTC futures volume now 17x spot

• ETH RSI hits bullish divergence

• Gensler to testify at US House today

• SEC delays Ark ETF due November until 2024

• US lawmakers call on SEC to approve ETFs

• Microsoft may introduce crypto for Xbox

• JP Morgan Chase UK bans crypto transactions

• Binance FUD article by WSJ, points to DoJ action

• Binance exits Russia with sale to CommEX

• Stablecoins may lead to financial instability: Fed

• Lido is risk to future of ETH: Eth Foundation

• Kraken obtains license in Spain & Ireland

• Coinbase to decide Europe HQ in weeks

• BlockFi can now start repaying funds to customers

• Coinmarketcap reports $1.4bn of fake trades

• Sinaloa Cartel money laundered using ETH

• Steve Wozniak: Bitcoin is safe, stable & conservative

• MKR +7% after proposal to double T-Bill exposure 

Macro & General

• Stocks down 1-2%, S&P nears 200D moving avg.

• S&P down 7.5% since Fed removed recession forecast

• China real estate index hits lowest since 2011

• VIX volatility index closes at highest in 5 months

• Put options on Nasdaq highest in 2 years

• Fed’s Kashkari: 40% prob. of meaningfully higher rates

• US home prices hit record, new home sales crash

• US excess savings now depleted for all but top 20%

• Jamie Dimon: India bullishness justified

• JP Morgan settles lawsuit over Epstein links

• US $2bn loan to Poland for military spending

• Trump judged to have committed fraud

• Biden received $250k payments from Chinese nationals

• OpenAI in talks for share sale at $90bn valuation

• 18,000 year old tools found in Americas

NFTs & Low-Cap

• Friend Tech TVL higher than Blur at token launch

• Friend Tech bridged funds to deploy now $25m

• Pudgy Penguins launch toy-line at Walmart

• TRB +30% after whale withdraws from Binance

• GLMR +60% in a week, huge volumes

• Improbable cuts 85% costs, still bullish on metaverse

• Milady lawsuit escalates with countersuit

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