Recap Week38 2024: Aaaand Cut!

Highlights:

50 basis points US rate cut. Bank of Japan (BOJ) pausing rate hike. BlackRock and Van Eck reports on Bitcoin. Interesting article on Asian family offices taking the lead and no doubt EU will follow suit. TradFi companies entering and/or expanding into digital assets. SEC approves options on BTC ETF. This all resulting in solid gains for the week with Altcoins outperforming.

Here we go:

BTC:

• https://cryptoslate.com/insights/institutions-are-no-longer-aggressively-shorting-bitcoin-cryptoquant/
• https://cryptoslate.com/bitcoin-holds-above-60k-amid-heavy-volatility-after-fomc-confirms-50bp-rate-cut/

ETH:

• https://www.theblock.co/post/316665/ethereum-stakers-see-7dma-revenue-fall-as-on-chain-activity-declines-60-since-march
• https://www.coindesk.com/markets/2024/09/18/ethereum-is-the-microsoft-of-blockchains-eth-underperformance-may-reverse-into-year-end-bitwise/
• https://www.coindesk.com/tech/2024/09/19/ethereum-developers-confirm-plan-to-split-pectra-upgrade-in-two/?

BlackRock and Van Eck on Bitcoin:

• https://www.blackrock.com/institutions/en-us/insights/bitcoin-unique-diversifier
• https://www.vaneck.com/us/en/blogs/digital-assets/matthew-sigel-vaneck-mid-september-2024-bitcoin-chaincheck-1-year-review-edition/

FOMC decision:

• https://www.reuters.com/markets/rates-bonds/with-feds-rate-cut-hand-debate-swirls-over-how-big-move-2024-09-18/
• https://www.reuters.com/markets/global-markets-wrapup-1pix-2024-09-19/?

BTC ETF options:

• https://cryptobriefing.com/blackrock-bitcoin-options-approved/

Altcoins outperforming:

• https://www.coindesk.com/markets/2024/09/20/altcoins-outperform-bitcoin-and-ether-following-fed-meeting/

The Asia-Pacific region is expected to lead global growth in family office wealth:

• https://www.coindesk.com/markets/2024/09/19/family-offices-investors-summit-the-100m-club-bets-on-liquid-token-ai-and-gaming-in-pivot-to-alternative-investments/
• https://cryptoslate.com/institutional-players-drive-crypto-adoption-in-south-korea-hong-kong-chainalysis/

MK Opinion

Dreadful volume and activity before FOMC decision in digital assets and also in the traditional financial world.

50 bps cut with stocks and digital assets hesitant afterwards with both a volatile US dollar/US 10Y. Asian Session clearly positive with the Yen tumbling against the greenback resulting in a positive session and continuing the remainder of the week.

We (as always) remain cautious/patient/aware as more than sufficient uncertainties remain on the short term table including the potential impact of this jumbo cut.

Coin | Other News:

dYdX:

• https://www.coindesk.com/business/2024/09/17/dydx-to-debut-perpetual-futures-on-prediction-markets-as-dex-seeks-to-raise-profile/

Aptos (APT) Stacks (STX):

• https://cryptobriefing.com/bitcoin-on-aptos-integration/

DBS option trading:

• https://cryptobriefing.com/dbs-crypto-options-trading/

TON:

• https://www.theblock.co/post/316975/bitget-foresight-ventures-invest-30-million-in-ton-blockchain

SUI:

• https://www.theblock.co/post/316936/circle-is-launching-usdc-on-sui-marking-its-15th-network-integration
• https://coinmarketcap.com/academy/article/moviepass-partners-with-sui-blockchain-to-revolutionize-cinemas?

Coinbase (COIN):

• https://www.coindesk.com/business/2024/09/17/brian-armstrong-etf-experts-shoot-down-paper-bitcoin-rumors/
• https://cryptoslate.com/blackrock-amends-coinbase-custody-agreement-to-require-12-hour-withdrawals-amid-debt-rumors/

Hedera (HBAR):

• https://finance.yahoo.com/news/hedera-launches-asset-tokenization-studio-123000475.html?

Crypto VC Fund Dragonfly Seeks to Raise a $500 Million Fund:

• https://www.bloomberg.com/news/articles/2024-09-17/crypto-vc-fund-dragonfly-seeking-to-raise-a-500-million-fund

WisdomTree tokenization platform: https://www.wisdomtreeconnect.com/

• https://www.businesswire.com/news/home/20240918119575/en

Huge step forward again….

Trump project:

• https://www.theblock.co/post/316688/donald-trump-backed-world-liberty-financial-debuts-plans-to-sell-wlfi-token
• https://protos.com/early-warnings-that-trumps-defi-project-would-flop/

US Legislation:

• https://www.coindesk.com/policy/2024/09/17/us-republican-lawmakers-say-crypto-legislation-not-yet-off-the-table-for-this-year/?

Switzerland’s SIX exchange explores launching crypto exchange:

• https://www.ft.com/content/edcd0f00-71b1-4335-8eba-78c214cbc377

“Crypto has become more and more a recognised asset class,”

Revolut as well as BitGo planning stablecoin:

• https://www.coindesk.com/business/2024/09/18/fintech-giant-revolut-said-to-be-planning-stablecoin/?
• https://finance.yahoo.com/news/bitgo-enter-stablecoin-market-reward-052238169.html

More on stablecoins:

• https://www.coindesk.com/markets/2024/09/19/stablecoins-are-becoming-systemically-important-bernstein-says/

Justin Sun - Poloniex:

• https://protos.com/justin-sun-reveals-poloniex-issues-prevent-proof-of-reserves/

Bananagun Telegram bot investigating possible exploit:

• https://www.theblock.co/post/317282/banana-gun-telegram-bot

Commerzbank offering:

• https://www.coindesk.com/business/2024/09/19/commerzbank-to-offer-bitcoin-ether-trading-through-crypto-finance/

And DZ Bank as well:

• https://www.coindesk.com/business/2024/09/19/germanys-dz-bank-to-offer-customers-crypto-trading-through-boerse-stuttgart-tie-up/?

Ze Germanz are on it again

Solana (SOL):

• https://www.coindesk.com/business/2024/09/20/socgens-crypto-unit-takes-euro-stablecoin-to-solana-after-flopping-on-ethereum/
• https://www.coindesk.com/tech/2024/09/20/jumps-frankendancer-validator-client-is-live-on-solana-mainnet/

BingX:

• https://www.theblock.co/post/317448/crypto-exchange-bingx-faces-an-estimated-43-million-security-exploit-peckshield
• https://protos.com/chelsea-fc-sponsor-bingx-tried-to-hide-40m-hack-behind-wallet-maintenance/

Microstrategy (MSTR):

• https://www.sec.gov/Archives/edgar/data/1050446/000119312524222498/d822569d8k.htm

Actively Managed Strategy:

1. Carefully crafted and well diversified actively managed portfolio based on more than seven years (and ongoing) of fundamental research and analysis. 30 high conviction coins in position
2. Clear risk framework on (amongst others) maximum weightings and liquidity constraints
3. Safety and compliance first: Institutional grade Custody and best-in-class partners
4. Experienced team dealing in financial markets and portfolio management for decades
5. Operational excellence and cost-effective

MKs Short Term Risk Report:

• Justin Sun (TRON, Huobi-HTX, WBTC)
• SEC / Regulatory
• USDT
• Regulation overkill in both stablecoins and DEFI
• Re-Staking uncertainties
• Capital Markets in general (Yen Carry Trade, China, Credit Event / Yields, FED not delivering)
• Escalation in the Middle East, Taiwan-China tensions
• Meme coin Frenzy, excessive leverage, Agressive and unsustainable “promised” APY’s
• Hacks / Exploits

The week ahead by Nomura and Livesquawk:

• https://www.nomuraconnects.com/focused-thinking-posts/the-economy-next-week/?
• https://www.livesquawk.com/report/special_ls-focus-on-the-week-ahead

Upcoming Events:

Will be attending the following conferences/events:

• 1-2 October: Amsterdam Investor Forum

https://www.amsterdaminvestorforum.com/

• Thursday 17th of October Legends4Legends:

https://www.legends4legends.org/

Agenda:

• https://bdc.consulting/calendar

Tokens:

Unlocks:

Have a wonderful Sunday, and thanks for reading!

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