The Hoot #40

Scatt's Seeds for Thought:

🌱 Citi Has A New Blockchain 🏃🏻‍♂️

🌱 Mark Cuban Hacked For $870k 😮‍💨

🌱 World’s Top 10 Bitcoin Holders 📊

🌱 A Global Investment Bank & Bitcoin 📈

Meme of The Week

Year-to-date Market Performance:

• S&P 500: 12.52%

• Dow: 2.46%

• Nasdaq Comp: 26.23%

• Bitcoin: 60.35%

• Ethereum: 32.64%

• Scatt Capital’s Fortune Strategy: -2.91% (Since Inception (12/22): -7.25%)

Market News:

• 7-Day Change in Crypto Market Cap: -$1bn

• FED HOLDS RATES IN PLACE

• FED OFFICIALS SEE INFLATION AT 2.6% IN 2024

• CHINESE ECONOMIC DATA SHOWS SIGNS OF STABILIZING

• BIG VC FIRMS TAKE HUGE HITS ON 2021 INSTACART INVESTMENT

• FRANCE TO ALLOW SELLING FUEL AT LOSS TO CURB INFLATION

• JAPANESE STARTUPS CAN NOW RAISE CAPITAL IN CRYPTO

• 11 CENTRAL BANK RATE DECISIONS IN 36 HRS THIS LAST WEEK

• $100 CRUDE PRICES BACK IN SIGHT

• MORGAN STANLEY SUED FOR $750M BY PE GROUPS

• BLACKROCK DOWNGRADES CHINESE STOCKS

• MUSK SAYS X HAS 550M MONTHLY USERS

• SEC WARNS MORE CHARGES AGAINST CRYPTO COMING

• US NATIONAL DEBT HITS $33T FOR FIRST TIME

• SOFTBANK RAMPING UP AI INVESTMENTS

• 10-YEAR YIELDS HIT 16 YEAR HIGH

• HEDGE FUND BOSS WHO SHORTED OIL STOCKS WENT UNDER

• 1 BILLION USDT MINTED AT TETHER TREASURY ON TRON

• THE WEEK AHEAD: 

  • New Home Sales

  • Personal Income & Spending

  • PCE Inflation Index

Citi Has A New Blockchain 🏃🏻‍♂️

Citigroup is a financial behemoth.

They have $750bn in AuM and is one of the’Big Four’ in the U.S.

And they just launched a Digital Token Service for institutions

Here is a quick rundown:

• Called: Citi Token Services

• Institutional investors can tokenize deposits to send money globally

• Will use a private blockchain and smart contracts

The new program is expected to cut transaction processing times from “days to minutes”.

Transfer money anywhere, anytime, all at a fraction of the cost?

Starting to see what we mean by revolutionizing the financial system?

Mark Cuban Hacked For $870k 😮‍💨

Mr. Shark Tank takes a big hit.

It’s true… crypto isn’t perfect.

Safety & security is a big concern, and you’ve gotta be dilligent.

Cuban’s MetaMask wallet (connected to the internet) got hacked.

He is now out almost $900k as a result.

Probably won’t do much to his $5bn net worth though.

Using a hot wallet (connected to the internet) is like walking down a dark ally at 11pm, and then wondering why you got mugged.

Keep it simple stupid guys. Just store correctly.

World’s Top 10 Bitcoin Holders 📊

There will only ever be 21m Bitcoin… so let’s see who owns A LOT.

Here are the top 10 Bitcoin holders:

• Satoshi Nakamoto: 1.1 mil BTC

• Grayscale: 643,572 BTC

• Binance: 498,147 BTC

• Bitfinex: 192, 508 BTC

• US Govt: 175,000 BTC

• Microstrategy: 152, 800 BTC

• Block One: 140,000 BTC

• OKX: 118,334 BTC

• Robinhood: 118,300 BTC

• Winklevoss Twins: 70,000 BTC

It’s a pretty interesting list… surprised by some of the names?

Craziest part is that nobody has any idea who Satoshi Nakamoto is.

Arguably th best inventor in the world, but we’ll just never know.

A Global Investment Bank & Bitcoin 📈

Nomura is the LARGEST Japanese investment bank.

And they just launched a Bitcoin fund for institutional investors.

Starting to notice a trend? “Institutional” comes up a lot.

They’re known as the ‘smart money’. Consumers are not, and they usually follow the big guys (at a delayed pace).

Japan is a major economic powerhouse, and Nomura has a massive presence there.

This is apart of something really big, guys.

THE WINDOW TO FRONT RUN INSTITUTIONAL MONEY IS PASSING YOU RIGHT NOW.

If you like receiving market updates, check us out here on LinkedIn; here on Twitter; or here on Instagram 📊

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.