Powell: Recent economic data, especially inflationary pressures, are stronger than expected. It will certainly require us to maintain a more restrictive policy stance for some time to restore price stability. There's still a long way to go to get inflation down again, and that road is likely to be bumpy.
Aggregate emissions from altcoin rewards, unlocks, etc add up to $50-100M+ daily
This does not include selling pressure from recent buyers
Without upward momentum drawing in new buyers, prices decline
This does not include selling pressure from recent buyers
Without upward momentum drawing in new buyers, prices decline
JUST IN: 🇺🇸 Biden to propose new tax rules for #Bitcoin , removing the ability to tax-loss harvest. - WSJ
2/ #Voyager currently holding $757.8M worth of assets, including:
- 459.8M $USDC
- 102,306 $ETH ($157.7M)
- 122.4M $VGX ($61.7M)
- 4T $SHIB ($44.2M)
- 1.28M $LINK ($8.5M)
- 8.95M $MANA ($4.9M)
- 6.6M $FTM ($2.4M)
- 454,805 $APE ($2M)
- 3.44M $SAND ($2M)
- 3.9M $ENJ ($1.55M)
...
- 459.8M $USDC
- 102,306 $ETH ($157.7M)
- 122.4M $VGX ($61.7M)
- 4T $SHIB ($44.2M)
- 1.28M $LINK ($8.5M)
- 8.95M $MANA ($4.9M)
- 6.6M $FTM ($2.4M)
- 454,805 $APE ($2M)
- 3.44M $SAND ($2M)
- 3.9M $ENJ ($1.55M)
...
JAYPOW might have broken US banking system.
2008 it was a banks portfolios of bad credit - aka subprime.
2023 it was banks portfolios of long duration bonds like UST and MBS???
If it goes down then remember Mar ‘20, big down, bailout, then big up! My body is ready.
2008 it was a banks portfolios of bad credit - aka subprime.
2023 it was banks portfolios of long duration bonds like UST and MBS???
If it goes down then remember Mar ‘20, big down, bailout, then big up! My body is ready.
A cryptobank blowing up yesterday, Silicon Valley Bank today, what's next? Market is pricing contagion, and it's normal. Bitcoiners see 10 years ahead and don't panic. The others...
More than $5.6 million worth of collateral on the Ethereum was liquidated in the past 24 hours. ETH will face liquidation of collateral positions worth more than $30m at $1235; WBTC will face more than $18 million at $18068. app.parsec.finance/dashboard & defillama.com/liquidations/e…
Everyone turns bearish in a blink of an eye. I don't know rick, it looks fake to me.
Monitoring the US & SVB situation.
Temporary storm unfolding. Potential systemic level risk apparent & rising.
SVB going down, is not about crypto. Rather, it could be an extinction level event for part of Silicon Valley, tech startups, VCs, and also some of crypto.
Government stepping in, *swiftly and decisively ensuring coverage of all customer funds*, would be wise and imperative, to temper contagion & minimize potential unfolding chaos.
We know 250k USD/account are insured by the FDIC. Only critical question remains if FDIC will grasp the instrumental importance of covering all customer funds, for preventing potentially significant negative impact to unfold.
From what we know, crypto and especially USDC funds, make a very small fraction of the problem at hand, and while the turmoil will likely last until some clear announcements are made on the working solution, with the right and timely decisions, there is, potentially, a good path for recovery.
Hope by Monday, a constructive solution is announced, and recovery plan begins. Some difficult and complex decisions to think deeply about and process, but there is a path.
Although only a side note and long shot, for now, Elon buying SVB and integrating it into twitter, would make for a fascinating plot twist.
Temporary storm unfolding. Potential systemic level risk apparent & rising.
SVB going down, is not about crypto. Rather, it could be an extinction level event for part of Silicon Valley, tech startups, VCs, and also some of crypto.
Government stepping in, *swiftly and decisively ensuring coverage of all customer funds*, would be wise and imperative, to temper contagion & minimize potential unfolding chaos.
We know 250k USD/account are insured by the FDIC. Only critical question remains if FDIC will grasp the instrumental importance of covering all customer funds, for preventing potentially significant negative impact to unfold.
From what we know, crypto and especially USDC funds, make a very small fraction of the problem at hand, and while the turmoil will likely last until some clear announcements are made on the working solution, with the right and timely decisions, there is, potentially, a good path for recovery.
Hope by Monday, a constructive solution is announced, and recovery plan begins. Some difficult and complex decisions to think deeply about and process, but there is a path.
Although only a side note and long shot, for now, Elon buying SVB and integrating it into twitter, would make for a fascinating plot twist.