Crypto Research

🚩Grayscale Bitcoin Trust (OTCQX: GBTC) trading at 19% discount THE HEADLINES [Members Area Crypto] LEGAL TASK FORCE RELEASES DIGITAL DISPUTE RESOLUTION GUIDELINES www.35z8e83m1ih83drye280o9d1-wpengine. netdna-ssl. com The government backed UK Jurisdiction Taskforce has released “Digital Dispute Resolution Rules” which intend to provide clarity for legal disputes over crypto assets, smart contracts, and blockchain applications, and foster confidence amongst businesses adopting these technologies. [Members Area Crypto] TURKISH AUTHORITIES INVESTIGATING FAILED CRYPTO EXCHANGE...

THE HEADLINES [Members Area Crypto] CRYPTO TO BE ADOPTED IN CUBA'S 5 YEAR PLAN www. decrypt. co The newly elected government of Cuban President Miguel Díaz-Canel has adopted a proposal to include cryptocurrency as part of the “economic and social policy guidelines of the party and of the revolution” over the next five years. [Members Area Crypto] HOUSE PASSES ELIMINATE BARRIERS TO INNOVATION ACT www. republicans-financialservices. house. gov The House...

THE HEADLINES [Members Area Crypto] UKRAINE PASSES LAW AGAINST CITIZENS HIDING DIGITAL CURRENCIES www. news. bitcoin. com Ukraine’s parliament has passed a law that will prosecute any citizen that fails to disclose digital currencies holdings above $4,000 with up to two-years in jail and a fine of up to $200,000. [Members Area Crypto] CHINA SHOULD NOT RUSH INTO DIGITAL YUAN FOR CROSS-BORDER PAYMENTS www. reuters. com Zhou Xiaochuan, the former...

THE HEADLINES [Members Area Crypto] BOE INTRODUCES BLOCKCHAIN SUPPORTING OMNIBUS ACCOUNTS www. reuters. com The Bank of England plans to introduce an “omnibus” account at the central bank allowing an operator of a payment system to hold funds in the omnibus account to fund their participants’ balances with central bank money on a distributed ledger platform. [Members Area Crypto] UAE USING BLOCKCHAIN FOR AUTHENTICATION SERVICES www. wam. ae The United...

THE HEADLINES [Members Area Crypto] CHINA HAS NO DESIRE TO REPLACE DOLLAR WITH DCEP AND SEES CRYPTO ASSETS AS INVESTMENT ALTERNATIVES www. bloomberg. com The deputy governor of the People’s Bank of China said China is not looking “to replace the U.S. dollar or other international currencies” with the digital yuan and is intending to focus its efforts on domestic use allowing “the market to choose, to facilitate international trade...

A lot happened this week. Bitcoin hit new ATH’s and crypto is showing signs of market rotations. Our current views on the crypto market are the following:Crypto bull market cycle intactBitcoin valuations haven’t peakedMacro picture mixed but favorableCrypto cooling off would be heathyInstitutions more cautious on cryptoSigns of retail money entering pictureStill favor buying GBTC over spot BitcoinStill see Ethereum outperforming BitcoinSize leadership shifting to retail midcapsExchange tokens to DeFi...

THE HEADLINES [Members Area Crypto] PRESIDENT ACCUSES RUSSIA OF USING CRYPTO TO INTERFERE WITH US ELECTIONS www. whitehouse. gov President Biden’s Executive Order on Russia’s interference in the US elections accuses Russia of participating in “deceptive or structured transactions or dealings to circumvent any United States sanctions, including through the use of digital currencies or assets or the use of physical assets.” In response the Department of Treasury Office of...

Looking through yesterday’s trading picture, I came away with several thoughts:Although a direct listing appears to be a more complicated process – at least due to the order matching on opening day – I truly believe this is the future of public listings. It maintains greater control over the valuation with the company during the final funding rounds and eliminates the risk that of a sale at a more conservative price...

Ahead of the direct listing Coinbase provided an update regarding the total number of shares to be listed (130.7 million) and that the 68.5 million shares of Class B common stock would be “convertible, at any time, at the option of the holder, into one share of Class A common stock.” Nasdaq released notice that the reference price for Coinbase’s direct listing (COIN) is $250. As the notice states “the reference price is NOT...

BlockFi's Flori Marquez and Fundstrat Global Advisors' Leeor Shimron talk about new ways to buy and own crypto, the need for FDIC insurance, and how to know if it's not for you.

THE HEADLINES [Members Area Crypto] BIDEN ADMINISTRATION PROPOSES FINCEN BUILD CORPORATE DATABASE www. whitehouse. gov President Biden is proposing that the Financial Crimes Enforcement Network (FinCEN) receive $191 million, $64 million above the 2021 enacted level, to create a database that tracks the ownership and control of companies and organizations and help combat the use of complex corporate structures to shield illegal activity. [Members Area Crypto] EIB LOOKING TO USE...