Crypto Research

THE HEADLINES [Members Area Crypto] CHINESE FINANCE ASSOCIATIONS ISSUE STATEMENT BANNING CRYPTO SERVICES www. reuters. com Three Chinese industry bodies – the National Internet Finance Association of China, the China Banking Association, and the Payment and Clearing Association of China – issued a joint statement saying banks and online payment channels should not offer crypto services to their clients adding that virtual currencies “are not supported by real value" nor...

THE RIDE CONTINUES… I have not heard of a good term to describe the feeling in your stomach when you see crypto prices experience the first big drop. (_Any suggestions?_) Anxiety hits and FUD rushes in. Its often compared the bitcoin rollercoaster meme. You experience the first big drop on a rollercoaster and for a split second you want off. You have experienced 5-Gs at over 125 miles per hour, but at the end,...

THE HEADLINES [Members Area Crypto] ARGENTINA REQUIRING CRYPTO EXCHANGES TO DISCLOSE CUSTOMER DATA www. decrypt. co Argentina’s tax authority plans to require monthly reporting on client data, balances and all crypto transactions from digital currency exchanges. [Members Area Crypto] UNAUTHORIZED IRANIAN HOUSEHOLD-MINERS TO BE FINED www. tehrantimes. com Iran’s Energy Ministry plans to raise revenue by targeting unauthorized crypto-miners operating on household electricity in an effort to compensate for weather-related...

THE HEADLINES [Members Area Crypto] BOE SAYS CBDC COMING BUT STILL QUESTIONING CRYPTO AS INVESTMENT VEHICLE www. bloomberg. com Bank of England Governor Andrew Bailey says market factors like the sudden “rocketing up [in share price] for companies that nobody quite knows what they do” and bitcoin, should be a warning that “people are looking for investment opportunities” suggesting these assets have “no intrinsic value.” Separately, Deputy Governor Jon Cunliffe...

2. What’s next? Is he already planning to accept another digital currency? Has he already identified the coin that “use[s] <1% of bitcoin’s energy/transaction.” Musks message is not new and I do not think people really care if Tesla accepts bitcoin. His message on the high energy usage by miners is a repeated attack, but this time it’s from a supposed supporter who some people even believe could be Satoshi I want...

Each night when most people see the darkness ushering in the end of the day, J-P Metsavainio sees his day just beginning. J-P is known as an astrophotographer, but if an artist is someone who creates images that convey one’s passion and beauty, then J-P is the truest of artists. He works with a model that is all around us but has seldom been seen as clearly and magnificently as...

THE HEADLINES [Members Area Crypto] BANK OF ISRAEL 'ACCELERATING' PREPARATION FOR DIGITAL SHEKEL www. boi. org. il The Bank of Israel said it has been examining the issuance of a central bank digital currency since 2017 and while it has not yet decided whether to issue a sovereign currency, the central bank has decided to accelerate its research and preparation for the potential issuance of a digital shekel. [Members Area...

THE HEADLINES [Members Area Crypto] INDONESIA LOOKING TO TAX CRYPTO TRADING www. reuters. com The government of Indonesia is considering a plan to tax crypto trades as “capital gains.” [Members Area Crypto] KAZAKHSTAN DEVELOPING ROADMAP FOR CRYPTO MARKET www. cointelegraph. com Kazakhstan has released a roadmap to spur development of the crypto industry which includes a proposal to run domestic digital asset exchanges through a national financial hub and establishing...

For those of you who did not stay up Saturday night, and who still do not know how to use your DVR or search YouTube, here are descriptions and videos of Elon Musk’s performance on SNL. In his monologue, Musk started on a serious note proclaiming to be the first host with Asperger’s and spoke about a “renewable energy future” with humanity becoming “a multi-planetary space-baring civilization.” He then joked about his...

The Grayscale Ethereum Classic Trust (ETCG) stock is trading at a ~50% discount to net asset value (NAV).  We think this could represent an opportunity for clients depending how the markets move over the weekend and want to put this on folks’ radar for next week.  Currently, the stock ETCG is trading at ~$56 and meanwhile its underlying holdings, the cryptocurrency Ethereum Classic (ETC), are trading at $120 on Coinbase and...

Two quick highlights on public crypto proxies:The premium to NAV on the Bitwise 10 Crypto Index Fund (OTCQX: BITQ) has been weakening and dropped below 20% for the first timeThe Grayscale Ethereum Classic Trust has increased 200% over the past 5 trading sessions _LIVE, FROM NEW YORK…_ Just a reminder that on Saturday, the self-proclaimed ‘Dogefather,’ Elon Musk is hosting Saturday Night Live. I have to assume that cryptocurrencies will play a major theme in his monologue...