Cryptoshonk! What a time to be alive! January 29, 2021 What a time to be alive used to be a euphoric and jubilant phrase that celebrated life and the world we lived in. Under lockdown, the phrase is now used ironically as that celebrated world feels more like an Old and Lost World. Another Eden destroyed and lost. Covid is the New Flood. As usual, [...]
How the Gamestop rally may have been inspired by crypto asset markets January 29, 2021 The allure of the underdog is well-documented, but what happens when the underdog takes on the house and cleans up the table? That’s exactly what happened in equity markets this week, as a Reddit community-fueled, retail money short-squeeze resulted in GameStop (GME), which previously was the darling of short-sellers, rallying all the way to just [...]
Bitcoin skyrockets as Elon Musk expresses support January 29, 2021 To finish off what has been a wild week for markets in comes Elon Musk sending the price of bitcoin up more than 15 per cent. The Tesla founder added #bitcoin to his Twitter bio in the early hours of Friday before cryptically tweeting: “In retrospect, it was inevitable.” Prices in the cryptocurrency leapt from just [...]
WallStreetBets drama reaches crescendo – Bitcoin fixes this. Elon seems to agree! January 29, 2021 Crypto at a Glance It’s been a wild week in the markets, but just when you think it can’t get any wilder, in swaggers Elon Musk and a $6k pump in little over an hour. The US isn’t even awake yet – are we just getting started today? How did we get here? The big [...]
Issues on Ethereum and DeFi as an emerging market January 28, 2021 Ethereum, the second most popular crypto asset by market cap, has seen its growth halted by notorious scalability issues and high gas fees. However, Decentralised Finance (or DeFi) which is built on the Ethereum Network is a different story. It was only as recent as the summer of 2020 when DeFi started to gain widespread [...]
It’s retail traders, Jim, but not as you know it! January 28, 2021 Crypto at a Glance If Bitcoin is f*ck you money, does that make GameStop a f*ck you stock? All eyes this week have been on Reddit traders, who have arrived at the blackjack tables fully armed with their sacks of pennies and battered old card counting books, ready to bankrupt the casino through sheer numbers [...]
Crypto AM shines its Spotlight on BitcoinPoint.com January 28, 2021 With the largest ATM network in the UK, innovative ‘on-ramp’ solutions to instantly buy and ‘off-ramp’ to sell Bitcoin, BitcoinPoint.com brings cryptos closer to Mass Adoption, with the vision of bringing financial inclusion to the unbanked and the non-tech-savvy. 16,000 ATMs Bitcoin sales from cash withdrawals have reached an unprecedented scale in the UK, as [...]
Why we built a better Tether January 27, 2021 This week I had a long meeting with the FCA reviewing our fully regulated Peer to Peer savings and loan platform JustUs. The FCA has the unenviable task of trying to stress test the health of the financial services industry in the middle of a health and economic crisis via their quarterly “Covid19 Financial Impact [...]
Fear, Anxiety, Doubt – FUD January 27, 2021 Crypto at a Glance Beware FUD! Last week’s barrage of mistruth reportedly claimed a major victim in software company NexTech AR Solutions, which sold off all 130 of its Bitcoins (worth roughly $4 million), citing reports of a possible “double spend” on the blockchain. The supposed double spend has now been shown to be nothing [...]
Institutional money buys the dip January 26, 2021 Crypto at a Glance It was another volatile day in the neighbourhood yesterday, though we don’t seem to have moved all that much. It kicked off with Bitcoin chilling at just over $32,000, before a rally to almost $35,000 set pulses racing. It looked set to continue its charge, but swiftly fell back to finish [...]