Mando Minutes

Things I’m looking at today…

Bitcoin dominance grows, 84% CEOs expect recession, Stars Arena challenges Friend Tech

Crypto

• BTC: $27.7k (1%), ETH: 1640 (0%)

• BTC very little correlation to gold & stocks

• ETH ETF inflows begin to pick-up

• ETH fees at lows of Dec ‘22 before price rise

• BTC 7 weeks of dominance increasing

• Altcoin market cap breaks trendline resistance

• SOL one third of staked coins through Jito Labs

• MATIC co-founder steps down

• AVAX transactions surge thanks to Stars Arena

• TON Foundation gets huge MEXC investment

• Renewed TUSD & stUSDT FUD in thread

• Lowest DEX volume in September since 2020

• JP Morgan partners with FCF Pay for crypto

• $150-200bn inflows after ETFs: Ex-BlackRock exec

• Arthur Hayes: $70k BTC prediction by end of 2024

• Blackbird web3 restaurant app gets $24m funding

• CMCC launches $100m crypto fund

• Coffeezilla ‘speechless’ of defence of SBF in book

• Alameda sent $4bn FTT tokens to FTX before crash

• Gary Wang to speak in FTX trial this week

Macro & General

• Reversal day: stocks higher, bond yields & oil lower

• Reversal after weakest ADP jobs report since 2021

• US services PMI also cools

• Oil drops 6% to 1 month low

• 84% CEOs expect recession in 2024

• Yield curve continues to un-invert, recession signal

• Bill Gross: avoid bonds & stocks, focus on special sits

• Howard Marks: expect defaults to surge

• Only stock crash can rescue bond market: Barclays

• Default prob of biggest US banks begins to rise

• Bank credit begins to contract, first time since ‘08

• US credit card spending begins to crater

• ADL agrees to advertise on X

• X begins to get rid of links

NFTs & Low-Cap

• Friend Tech rival Stars Arena sees volumes pick up

• Top Blur farmer sells 100ETH of own FT keys

• Friend Tech enables other login methods

• Zora announces gas-free minting

• Pudgy Penguins +20% after cookies teased

• Meta begins to lay off people in metaverse unit

• Crypto art exhibition at Saatchi Gallery

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Comic by @boldleonidas
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