While we don’t have a strong view on crypto here at Equity Mates, we are fascinated to watch the story unfold. Read on for some of the most interesting Tweets, articles and memes from the past week below.
Prices of Top Cryptocurrencies
Tweets & Charts of the week
Articles & Videos
Fears that the collapse of FTX will lead to more destruction in the crypto industry are hitting almost every investor in the United States, from individuals to major Wall Street firms, with many wondering if another cryptocurrency trading platform called Genesis will fall next. Genesis has reportedly warned potential investors that it may need to file for bankruptcy if it fails to quickly raise a significant chunk of cash – $1 billion, according to Bloomberg News.
The trend of investing in real estate with crypto gained momentum in 2021 following a market explosion. Today, numerous jurisdictions have amended their real estate laws to allow property purchases using crypto due to their transformative impact. So, which countries currently support real estate purchases with crypto?
ETFs that track cryptocurrencies were launched with great fanfare earlier this year, but some providers have given notice they will close as investor interest wanes amid plunging prices and multiple high-profile collapses. Cosmos Asset Management, which offers ETFs that track the prices of bitcoin and ether, and another that tracks an index of various listed crypto mining businesses, gave notice late last month it will close all three, with the money returned to investors.
A quick meme break
Back to it
Video: Parrallels are being drawn between the current crypto collapse and the Global Financial Crisis. Former financier Satyajit Das says this fallout won’t be as widespread.
Australian cryptocurrency exchange Swyftx has run to market for a short-term capital injection, seeking to shore up its balance sheet and ability to fund longer-term growth plans. The company has told investors it may need to be happy with a short-term funding solution given wider market conditions, and replace those funds with a more permanent capital once markets stabilise.
Holiday gatherings are going to be awkward for people who told their relatives to buy cryptocurrencies last year.This won’t be the first year that cryptocurrencies are a topic of conversation at the Thanksgiving dinner table. In 2017, as Bitcoin first topped $10,000, retail investors bought into the new space and some encouraged their families to do the same. Then, the coin’s price fell about 80% in the subsequent year.
The corporate regulator has launched legal action alleging crypto platform Block Earner has been providing financial products without the proper licence, exposing customers to risk and leaving them without appropriate protections.
And another
In Focus: Crypto contagion
The word ‘contagion’ has been flying around since FTX’s collapse and several smaller companies have gone with it. So we thought we’d look at exactly what contagion is and how it might impact crypto moving forward.
[Read the article here]
In this week’s episode Trace, Blake and Craig give the most up to date information in the FTX / Sam Bankman Fried saga – and there is a LOT to cover off on! This takes into consideration where the contagion may have reached and which other platforms and entities might be in trouble. They discuss the announcement of a US Digital dollar, cover the new Nike NFT marketplace Swoosh and explain how how the decentralized exchanges are faring after the last two weeks action..
[Listen to the episode here]
Some of our favourite content
This is an excerpt from our Crypto Newsletter email. Once a week, for those investing in crypto or interested in learning more about this corner of the market, we’re featuring some of the most interesting content we’ve come across in this weekly email. No spam, we guarantee.