- The Hoot
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- The Hoot #39
Scatt's Seeds for Thought:
🌱 FTX Selloff Approved ✅
🌱 Deutsche Bank Takes On Crypto 👀
🌱 The G-20 Summit: Crypto Edition 🔥
🌱 Kim Jung Un Hacks Crypto 📊
Meme of The Week
Year-to-date Market Performance:
S&P 500: 15.91%
Dow: 4.44%
Nasdaq Comp: 30.97%
Bitcoin: 59.50%
Ethereum: 35.18%
Scatt Capital’s Fortune Strategy: -0.45% (Since Inception (12/22): -4.79%)
Market News:
7-Day Change in Crypto Market Cap: +$10bn
CPI COMES IN HIGHER THAN EXPECTED
FED ON ALERT FOR 1 MORE HIKE AFTER INFLATION NUMBERS
WTI HITS $90
APPLE LAUNCHES IPHONE 15: NO DIFFERENCE
HEDGE FUNDS FINDING HYDROCARBON BETS WASTE OF TIME
LIBYA HIT BY POWERFUL STORM: THOUSANDS FEARED DEAD
CENTRAL BANKS SET FOR HIGHER FOR LONGER INFLATION FIGHT
AI QUIETLY RESHAPING APPLE PRODUCTS
FORD DOUBLING F-150 HYBRID PICKUP PRODUCTION
RON BARON SAYS TESLA 4 TO 5 TIMES BIGGER IN A FEW YEARS
HUNTER BIDEN INDICTED ON GUN CHARGES IN DELAWARE
BINANCE.US CEO RESIGNS
JPM, BAC DANGLE 14% YIELD TO GET RID OF RISKY M&A DEBT
ECB DELIVERS 10TH RATE HIKE
WHOLSALE INFLATION RISES 0.7%: MORE THAN ESTIMATES
BROOKFIELD CFO SAYS BANKS & PRIVATE CREDIT CAN CO-EXIST
COCAINE IS OFFICIALLY COLUMBIA’S BIGGEST EXPORT
THE WEEK AHEAD:
Housing Starts
Fed Chair Powell Press Conference
Existing Home Sales
FTX Selloff Approved ✅
It’s coming.
Bankrupt crypto exchange got the go ahead to dump on us.
Permission to sell $100m/week was granted by the court earlier this week.
In short: it’s good news, but also bad news.
Good: FTX will repay customers with the money
Bad: It’s billions of selling pressure on the markets
Is it time to take on a short position?
Might just be.
Deutsche Bank Takes On Crypto 👀
Another major bank is back in the mix!
Deutsche bank has decided crypto is worth the effort.
They’ll be offering custodial services for institutional clients with Taurus, a Swiss crypto firm.
They’ll also be looking to include crypto trading soon according to a report.
Societe Generale and Standard Chartered are 2 other banks that offer the services.
As the crypto market grows, the demand for storage/custody will grow too.
Domino effect incoming…
The G-20 Summit: Crypto Edition 🔥
BIG moves: the G-20 could be in on crypto…
Leaders recently gave global tax authorities more insight into crypto transactions.
This could be a sign of increased international cooperation on crypto!
It might be on a slightly longer timeline ( as long as 4 years), but it’s a start!
Crypto is a fast-paced wild west for those that are unfamiliar.
Governments are the unfamiliar.
But reform is on the way.
Kim Jung Un Hacks Crypto 📊
Kim Jung Un is hacking crypto… literally.
In the last 102 days, N. Korean hackers have stolen $270m in crypto.
That’s $2.65m per day.
Total funds stolen by Kim & Co.? Just over $3bn.
But what’s he doing with the funds??
Buying toys… like nuclear missiles from Russia. Nice.
“Thanks boys… keep up the good work”
Since 2021 though, there have been around 400 hacks totalling $8bn stolen.
That’s very UNcyberly-secure.
Major problem is there is no central help desk to help get your funds back.
Once they’re gone… just start waving cause they ain’t coming back.
It’s definitely a scarily undeveloped thing, but you know what they say…
Gotta risk it to get the biscuit.
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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.