The Hoot #38

Scatt's Seeds for Thought:

🌱 Ethereum ETF Coming 🔜

🌱 London Stock Exchange Goes Blockchain 🤝🏼

🌱 JP Morgan Develops Blockchain Token 🔑

🌱 Crypto CEO: Sentenced to 11,196 in Prison 🇹🇷

Meme of The Week

Year-to-date Market Performance:

• S&P 500: 16.10%

• Dow: 4.31%

• Nasdaq Comp: 31.48%

• Bitcoin: 56.62%

• Ethereum: 36.39%

• Scatt Capital’s Fortune Strategy: -0.89% (Since Inception (12/22): -5.23%)

Market News:

• 7-Day Change in Crypto Market Cap: +$4bn

• AVG. 30-YEAR MORTAGE RATE HITS 7.62%: HIGHEST SINCE 2000

• MORTGAGE DEMAND HITS 28-YEAR LOW

• HOME SALES LOWEST SINCE 2010

• EXISTING HOME SALES FALL 17% YEAR OVER YEAR

• CREDIT CARD DEFAULTS HIGHEST SINCE 2008

• 30% OF ALL HOURS WORKED COULD BE AUTOMATED BY 2030

• MERCEDES & BMW WANT TO TAKE ON TESLA

• OIL EXECUTIVES OPTIMISTIC ON CHINA DEMAND

• XI TO SKIP G20 SUMMIT IN INDIA

• SAUDIS, RUSSIA EXTEND OIL-SUPPLY CURBS TO YEAR END

• RISING RENTS HITTING U.S. SUBURBS HARDEST

• APPLE INKS NEW LONG-TERM CHIP DEAL WITH ARM

• TAYLOR SWIFT ERAS TOUR MOVIE: $100M IN 1ST WEEKEND

• CHINA BANS IPHONE USE FOR GOVT. OFFICIALS AT WORK

• FED TO DOUBLE U.S. ECONOMIC GROWTH FORECAST

• TEXAS ON EDGE OF BLACKOUTS AS DEMAND SQUEEZES GRID

• CRYPTO SPOT TRADING VOLUME HITS 4.5-YEAR LOW

• VENTURE CAPITAL VALUATIONS DOWN 50% FROM PEAK

• THE WEEK AHEAD: 

  • Consumer Price Index (Inflation)

  • Producer Price Index (Inflation)

  • U.S. Retail Sales

Ethereum ETF Coming 🔜

We’ve got another contestant, ladies & gents.

ARK Invest & 21Shares have officially filed for a spot ETH ETF.

So did Van Eck.

Coinbase has been named as a partner & custodian in both filings.

Could ETH start to rival BTC? 👀

The Bitcoin ETF approvals are IMMINENT.

ETH ETFs were just a matter of when.

ALL ABOARD: LAST CHANCE TO FRONT-RUN THE INSTITUTIONS!

London Stock Exchange Goes Blockchain 🤝🏼

The Poms are in.

The LSE are creating a blockchain-based trading platform.

To contextualise, the value of assets traded on the LSE is around $4.6 trillion.

This is pretty massive news, guys.

We aren’t sure if they’ll be trading crypto just yet, but you gotta start somewhere!

Mark my words… this will REVOLUTIONIZE traditional asset markets.

Can you believe it? The English finally got something right!

JP Morgan Develops Blockchain Token 🔑

“Bitcoin is such a fraud….. Wait, hold on… it’s worth what?!”

JPM is officially developing a blockchain-based deposit token.

This would be used to speed up payments & settlements.

AKA one of blockchain’s MAJOR use-cases.

JPM said they won’t create the token if it’s not approved by U.S. regulators.

Kissass.

When the world’s biggest bank is in on it… you know the race is on.

Crypto CEO: Sentenced to 11,196 in Prison 🇹🇷

Rumor has it that Sam Bankman-Fried is in awe.

Faruk Fatih Ozer is bringing Turkiye to light… and not a good one.

Ozer ran crypto exchange Thodex until it imploded in 2021.

Probably because he stole more than $2 billion in customer funds.

11,196 is crazy though. Why so long?

Rumor has it, it’s part of his plan to prove that crypto is a life-sentence investment strategy.

Maybe the U.S. govt. will like crypto by then.

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See you next week 🦉

DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research.