Markets Take The Stairs Up And The Elevator Down
To investors, Below is a guest post from Nik Bhatia, financial researcher and Adjunct Professor at the University of Southern California Marshall School of Business and author of the Substack newsletter The Bitcoin Layer, providing a preview ahead of today’s Fed meeting. Enjoy! “Markets take the stairs up and the elevator down.” I’ve always loved this old trader adage because of how true it is, and nothing proved it like what happened this week to Treasuries, and to a lesser extent, equities and bitcoin. Today’s post is an overview of the recent chaos across asset classes and a preview of this afternoon’s Federal Reserve interest rate hike. Hope you enjoyed this guest post from Nik Bhatia, financial researcher and Adjunct Professor at the University of Southern California Marshall School of Business and author of the Substack newsletter The Bitcoin Layer. Highly suggest signing up here. -Pomp If you are not a subscriber of The Pomp Letter, join 225,000 other investors who read my personal opinion on finance, technology, and bitcoin each morning. SPONSOR: Brave Wallet is the first secure wallet built natively in a web3 crypto browser. No extension required. With Brave Wallet, you can buy, store, send, and swap assets. Manage your portfolio & NFTs. View real-time market data with an integrated CoinGecko dashboard. Even connect other wallets and DApps. All from the security of the best privacy browser on the market. Protect your crypto. Whether you’re new to crypto, or a seasoned pro, it’s time to ditch those risky extensions. It’s time to switch to Brave Wallet. Download Brave at brave.com/Pomp, and click the wallet icon to get started. THE RUNDOWN:Words With Friends Co-Founder Raises $46M for Web 3 Game Studio: Playful Studios, an independent game studio from Words with Friends co-founder Paul Bettner, has launched a new Web 3 subsidiary called The Wildcard Alliance and raised $46 million in Series A funding led by crypto native investment giant Paradigm. Other participants in the funding round included Griffin Gaming Partners, Polygon and venture capitalist Sabrina Hahn. Read more. SEC Chair Gensler Suggests Lummis-Gillibrand Bill May ‘Undermine’ Market Protections: A bill intended to specify the rules and roles for crypto regulation could inadvertently "undermine" other market protections, U.S. Securities and Exchange Commission Chair Gary Gensler said Tuesday. Speaking at The Wall Street Journal's CFO Network Summit, Gensler suggested many crypto companies are already engaging in behaviors overseen by his agency, pointing to companies that offer yield for staking as one example. Read more. EU Finance Commissioner Calls for Speedy Passage of Crypto Law: European Commissioner for Financial Services Mairead McGuinness encouraged the European Union's lawmakers to find a political compromise and speed up passage of its crypto-asset regulatory framework, currently in the last leg of the bloc's legislative process. Read more. SEC Launches Inquiry Into Insider Trading at Crypto Exchanges: The U.S. Securities and Exchange Commission has begun an investigation into whether crypto exchanges have sufficient protections against insider trading, according to Fox Business, which cited a source with direct knowledge of the inquiry. The source said the SEC had sent a letter to a major crypto exchange asking about the kinds of protections it has in place against insider trading. The inquiry is meant to cover additional exchanges as well, according to the source. Read more. Dylan LeClair is the Senior Market Analyst at UTXO Management, a digital asset fund investing in the analog to digital transformation of money and the emergent financial system. In this conversation, we why Celsius crashed this past week and how long will Bitcoin price continue to fall. Listen on iTunes: Click here Listen on Spotify: Click here Pomp’s Fox Business Appearance This WeekPodcast SponsorsThese companies make the podcast possible, so go check them out and thank them for their support!
You are receiving The Pomp Letter because you either signed up or you attended one of the events that I spoke at. Feel free to unsubscribe if you aren’t finding this valuable. Nothing in this email is intended to serve as financial advice. Do your own research. You’re a free subscriber to The Pomp Letter. For the full experience, become a paid subscriber. |
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Bitcoin Value vs Price
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Listen now (4 min) | To investors, Bitcoin's price has been falling for months and now sits under $25000. Although these price drawdowns never get easier, they have happened numerous times over the
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