Japan Implements Crypto Friendly Tax Policy and HSBC Hong Kong Lets Customers Trade Crypto ETFs
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MARKET COMMENTARYINVESTORS WELCOMED THIS MORNING’S SLIGHTLY SOFTER THAN EXPECTED CPI DATA AND A LARGE DOWNSIDE MISS ON U.S. RETAIL SALES, ALLEVIATING INFLATION CONCERNS AND HELPING TO PROPEL STOCK INDICES TO NEW INTRADAY ALL-TIME HIGHS. The SPY 1.14% and QQQ 1.54% have gained over 1% to surpass $528 and $451, respectively, while US treasury rates have turned significantly lower, with the US10Y dropping below 4.34%. Crypto is responding in similar fashion with BTC 7.90% ...
Tornado Cash Developer Sentenced to 5 Years in Prison, LayerZero Succeeding Against Sybils
CRYPTO MARKET COMMENTARYAPRIL PPI CAME IN MIXED THIS MORNING, WITH A LARGE UPSIDE SURPRISE IN MOM READINGS (0.5% VS. 0.3% EXP.) AND YOY METRICS LARGELY IN LINE WITH EXPECTATIONS. The upside in the MoM reading was offset by March figures being revised downwards. Yields initially spiked upon the data release but have turned negative across the curve. Equities are showing mild gains as attention shifts towards tomorrow’s CPI data release. The SPY 1.14% has gained 0.17% and the QQQ 1.54% has gained 0.31%. Crypto assets are...
CRYPTO MARKET COMMENTARYBITCOIN REBOUNDED OVER THE WEEKEND, WITH PRICES FULLY RECOVERING FROM FRIDAY'S DRAWDOWN BY MONDAY MORNINg. BTC 7.90% is now trading just below $63k. Meanwhile, both ETH 5.38% and SOL 13.27% have lagged, trading at $3950 and $146, respectively. Altcoin flows seem to have shifted towards memecoins, which are outpacing the rest of the market today, with gains exceeding 5% from BONK 7.55% , DOGE -11.56% , and PEPE. This interest in memecoins likely stems from...
MARKET COMMENTARYA PRETTY SIZEABLE MISS IN TODAY'S CONSUMER SENTIMENT SURVEY REVERSED MOST OF THE GAINS EXPERIENCED IN THE CRYPTO MARKET OVER THE PAST 24 HOURS. Consumer sentiment came in at 67.4, well below market expectations of 77.2. 1Y inflation expectations came in at 3.5%, well above the market forecast of 3.2%. We saw the DXY 0.00% turn sharply higher on the move, and most risk assets sold off. BTC 7.90% fell from...
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