Crypto - Jun 17, 2022 - 2 mins read

Lendaview Weekly #3


The Rundown Powered By Arcane Research

•    A higher than expected U.S. CPI caused an abrupt stop to the flat market, leading BTC to plunge alongside U.S. equities, exposing new contagion-related vulnerabilities in the market. In sum, this led to a devastating week for bitcoin, seeing a loss of 25%. (Read article)
•    Ethereum saw another week of outflows totaling US$ 41m bringing total year-to-date outflows to US$ 387m.
•    Blockchain equities have not escaped the negative sentiment with outflows of US$ 5m last week.
•    On Monday, fear of Celsius insolvency and contagion effects ignited further downward pressure in an already extended sell-off. (Read article)
•    Monday saw 123,000 bitcoin withdrawn from exchanges - the highest number since March 2020. (Read article)
•    Futures premiums have taken a massive hit this week. Currently, CME trades at a rare slight premium to the offshore exchanges. (Read article)
•    Earlier this week we saw the largest liquidation volume in BTC futures this year, with both longs and shorts being punished by the fury of Mr. Market.

A Deep Bite

Rethinking the way we teach crypto

Despite the mainstream attention that digital assets have begun garnering, the general public still has a minimal collective understanding of how cryptocurrencies actually work. And it is easy to dismiss what you do not understand. So the understanding, the willingness and the ability to appreciate the mechanics and incentives of digital assets are crucial components for cryptocurrency adoption. More here

Weekly Bites

Fed Announces Biggest Interest Rate Hike in 28 Years; Bitcoin Falls

The Federal Reserve on Wednesday raised interest rates by 75 basis points, or three quarters of a percentage point, marking the biggest hike in 28 years, in an ongoing effort to bring down soaring inflation that has roiled the economy along with markets from stocks and bonds to cryptocurrencies. More here

EU Finance Commissioner Calls for Speedy Passage of Crypto Law

Mairead McGuinness, the European Commissioner for financial services, 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. If in place, the Markets in Crypto Assets (MiCA) framework could facilitate the implementation of sanctions against Russia, which also apply to crypto, McGuinness said. More here

SEC’s Gary Gensler warns lawmakers not to undermine wider markets with crypto rules

Securities and Exchange Commission chair Gary Gensler expressed concern 14 June that efforts in Congress to write legislation for the cryptocurrency industry could compromise regulations that govern the broader capital markets. More here

Here’s What The Crypto ‘Bloodbath’ Means For The Stock Market (It’s Not Good)

The cryptocurrency market fell victim to a massive selloff on Monday as several large exchanges either halted sales or announced layoffs. More here

What can other algorithmic stablecoins learn from Terra’s crash?

The main problem that led to the fall of Terra was that the reserves appeared to be overcollateralized, but in reality, they weren’t. More here

Markets Take The Stairs Up And The Elevator Down

On Friday, official inflation data remained at a 40-year high, not necessarily a surprise to economic observers. What did surprise was the lack of any slowdown in core and headline inflation, which sent markets into a flurry of repricing. Why did some traders expect for a marginal slowdown in inflation? More here

Tweet Of The Week

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