A weekly newsletter on actionable digital asset market insights and practical observations with a smidgen of greentea 🍵 insights
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📖 Book of the Month 📖
This month (or maybe two), I am reading Debt: The First 5,000 Years. If you follow me on Twitter or my prior books you will notice that the Debt topic is top of mind. This is because I think we are nearing some sort of major reset and I want to gain as much knowledge as possible on the history around this topic because no humans alive today have lived through what I think is coming which is a major global debt reset and/or hyperinflation to reduce debt levels. If you are reading along or listening drop me a note on Twitter or email!
Listen to Debt: The First 5,000 Years For Free with Audible. Link
💭✍🏼 Food For Thought 💭 ✍🏼
Read the Full PDF Letter Below - Link
The tide is shifting in Congress and it seems likely (in my opinion) the mid term elections will really shake things up even more. It will be interesting to see how the various political factions jockey for (a) millennial / pro crypto votes versus (b) pro Gov / Statist positions regardless of political party (this is my own construct that I use to understand how politicians that should in theory be pro-crypto but are actually pro bank / pro big Gov which I refer to as "Statist").
On the "other side of the Aisle" Sen. Elizabeth Warren Rolls Out Bill Designed To Close Crypto Loopholes to Sanctions
Full Senate Hearing Link that you can watch and listen to draw your own conclusions.
Vitalik Buterin was profiled in Time Magazine. I consider this a historical watershed moment for Crypto broadly. All of the dismissive opinions on the utility and power of this technology is no longer in question in a world of Central Bank reserve asset seizures and war driven refugee crises. The seizure of central bank reserve assets is one of the most impactful developments of the 21st century (hyperbolic enough?). This is a must read ➡️ Link
💸 Companies and Deals I am Watching Closely 💸
1. Gauntlet, a DeFi risk management company, raised $23.8 million from Ribbit, Polychain, Paradigm and others - Link
2. Aptos (the Diem Software Dev team that quit Facebook/Meta), a layer one blockchain network, raised $200 million from a16z, Multicoin, Three Arrows, Tiger, FTX and Coinbase - Link
3. Consensys, the Ethereum studio, raised $450 million in a round led by ParaFi with participation from Microsoft, SoftBank, Temasek and others - Link
📖 Quote of the Week 📖:
"Beware The Ides of March"
- Julius Caesar, by Shakespeare, Soothsayer (Act 1, Scene 2)
📰 This Weeks Most Interesting Digital Asset News 📰:
- Ukrainian government launches crypto donation website with FTX, Kuna and Everstake - Link
2. CoinShares makes further strategic investment in FlowBank to enhance its integrated strategy - Link
3. Biden Signs Executive Order on Crypto (video deep dive coming soon) - Link
4. Rep Tomm Emmer Sends Letter to the SEC on the legal validity of their "information requests" - Link
5. Hubspot Data Breach Is impact everyone from Crypto Funds to Consumer Brands - Link
📈 Top 10 Market Movements by Market Cap over the last 7 days 📉:
Bitcoin: Price OHLC
We are starting to see a bit of a turn in Bitcoin's on-chain data. As you can see since January the Closing price each market day for Bitcoin has done better this week but still within the overall choppy trend. Time will tell if things hold. Personally, I am still of a bearish view until we get closer to mid to late Summer. Let's see where the on chain data will lead.
Ethereum: Price OHLC
OHLC is the Open, High, Low and Close price. ETH has also started to make a move this week but overall is still chopping around. As I said above, I remain bearish from a price perspective. On the tech development side there is tons of good stuff still happening as migration to proof of stake continues. Personally, I am guards up and keeping more dry powder for future opportunity.
Total Value Locked (USD) in DeFI
DeFI TVL has bounced a bit this week up from $74 Billion last week. I am on the sidelines watching for now. Let's see if this past week was just a Fed, options market and peace headline laced---head fake.
As a reminder TVL means "Total Value Locked". This refers to people taking ETH based tokens or other tokens and "locking" them in DeFI protocols to lend, generate yields and otherwise earn excess returns.
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Green Tea Tidbits:
The scientific name for green tea is Camellia Sinensis.
Disclaimer:
This Newsletter does not provide, and no portion of this content purports to be, individualized or specific investment advice and I do not provide investment advice. All information provided herein is general in nature and is made without regard to individual levels of sophistication or investment experience, investment preferences, objectives or risk parameters and without regard to the suitability of the content for individuals or entities who may access it.
No information provided herein, should be construed as an offer to sell, or a solicitation of an offer to buy any security or investment vehicle, nor should it be construed as tailored or specific to you, or any reader or consumer thereof. You understand and agree that the content does not constitute specific recommendations of any particular investment, security, portfolio, transaction or strategy, nor does it recommend any specific course of action is suitable for any specific person or entity or group of persons or entities.
The content herein is based upon information from sources believed to be reliable and I am not responsible for errors, inaccuracies or omissions of information; nor is it responsible for the accuracy or authenticity of the information upon which I rely. For informational purposes only. Do your own research.
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