Q9 Markets: Going for Gold

  • Olympic lift for crypto markets
  • Positive sentiment returns in a number of indicators
  • BTC regains its title from the S&P 500 and Gold
  • Exposure to hedge funds and other investment vehicles that lack transparency
  • Risks to banks
  • Unique threats posed by stablecoins
  • Use in cyberattacks that can disrupt the financial system
  • Risks from decentralized finance
  • A bipartisan infrastructure bill in Congress proposes to raise $28 billion from crypto investors by applying new information reporting requirements to exchanges and other parties. Any broker that transfers any digital assets would need to file a return under a modified information reporting regime.
  • Robinhood shares stumbled out of the gate on Thursday, falling dramatically in a market debut that revealed lackluster investor demand for the popular app that brought fee-free trading to millions of Americans.
  • Binance is looking for someone with a strong regulatory background to become its new chief executive, the current chief executive Changpeng “CZ” Zhao said at a press conference Tuesday. The company has recently been lashed by a series of regulatory actions across a number of jurisdictions.
  • Investment banking giant Goldman Sachs has filed an application with the U.S. Securities and Exchange Commission (SEC) for an exchange-traded fund (ETF) that would offer exposure to public companies in decentralized finance and blockchain around the globe.
  • Global payments platform PayPal is looking towards the United Kingdom as the next market in which to expand its crypto trading services. According to the company’s second-quarter earnings call on Wednesday, PayPal has done very well out of crypto trading for the period
  • Bank of America (BofA) called central bank digital currencies “a much more effective payment system than cash”. The report comes amid surging interest among central banks. A May report by the blockchain infrastructure platform Bison Trails found that about 80% of central banks are exploring use cases involving CBDCs, with 40% already testing proof-of-concept programs.
  • A new report shows that approximately 43% of Singaporean citizens hold some cryptocurrency.
  • BTC/USD rallied 23.8% and ETH/USD climbed +17.6%. The total market cap of the crypto universe is just shy of $1.6tln and Bitcoins dominance crossed 47% during last week
  • Among other majors BCH/USD rose +21.6% and, among large cap DeFi names, LINK rallied +20.3%
  • Annualised volatility dropped in crypto markets to 22% for BTC and 45% for ETH
  • Two-way activity on our client pad slightly better to buy (1.3X buyers vs sellers) with an uptick in volumes during last week
  • Net buyers in ETH and even sided flow on BTC
  • Net sellers in LINK and LTC on mild volumes

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Q9 Capital

Q9 Capital

Buy, sell, and store digital assets with ease. Invest with the trust of an established financial services provider with 40 years of group history.

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