June Newsletter

Featured in the News

CNBC: Spot Bitcoin ETF Expectations. Will Cai spoke to CNBC about BlackRock's bitcoin ETF application, affirming that, despite the hype, a spot bitcoin ETF in the U.S. is “likely 1 ? years away in the best-case scenario.”

Invezz: Wade Guenther on the Invezz Podcast. “Bitcoin essentially drives the miners’ bus.” Wade Guenther discusses how the performance of bitcoin miners follows that of the cryptocurrency, a trend we have seen historically with gold and gold miners.

CNBC: Where to Invest $50,000 Right Now. Wade Guenther is among several financial?industry veterans who discuss the best way to allocate assets in today's market. Find out how the experts suggest navigating the current market conditions.

Cointelegraph: Why A Spot Bitcoin ETF is Not Likely in 2023. Find out why ETF industry veteran and Wilshire Phoenix Partner, Wade Guenther, believes?we won't see a spot bitcoin ETF for a while. Other experts agree.

Digital Asset News

Yahoo Finance: Crypto Has A New Rescuer: Wall Street. The largest firms in finance, including BlackRock, Fidelity,?Deutsche Bank, and Charles Schwab are making significant efforts to integrate with crypto. These public endorsements are encouraging investors to buy into crypto which may be sending the prices higher, with a 14% higher total market cap for crypto assets a week after the string of announcements.

Decrypt: First Ever Leveraged Bitcoin Futures ETF Starts Trading. The first leveraged Bitcoin ETF in the U.S. became effective and launched on June 27th. This fund seeks to return 2x the daily performance of the CME Bitcoin Futures Daily Roll Index, before fees and expenses. Some crypto pundits consider this a positive move for regulation in the space as leveraged funds are often considered more risky than non-leveraged.?

What We're Reading

Bloomberg:?KPMG Shaken by Audit Failures.?KPMG has given clean audit reviews to three banks that collapsed during the recent banking crisis. The Big Four firm may be in hot water as Congress questions its relationships with its client banks. KPMG’s audit clients represent 40% of bank assets, accounting for almost $6 trillion.?

Fortune:?One of the Top Stock Watchers Alive Called the Big S&P 500 Comeback This Year.?Wharton's Jeremy Siegel called for a rally in U.S. equities in the first half of 2023 and turned out to be right, against most market analyst opinions. Siegel suggests a softer landing towards the end of 2023 due to the impact of student loan payments restarting and more muted consumer spending.?

Wired:?Google's DeepMind CEO Says Its Next Algorithm Will Eclipse ChatGPT.?Google’s DeepMind is working on a large language model similar to ChatGPT that will combine with AlphaGo, an already existing AI program from Google. The new program, Gemini, could take hundreds of millions of dollars and several months to complete.?

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