Crypto Market Insight Aug 2022 | Ewpple

 

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Ewpple - Crypto Market Insight Aug 2022

• The Bitcoin (BTC) price has crossed $23K in the last 2 weeks, forcing miners to fire up their rigs despite soaring electricity costs.
• Ethereum's (ETH) co-founder Vitalik Buterin argued, centralized stablecoins might be a "significant" factor in determining which blockchain protocol the industry will "respect" in Ethereum Merge hard forks.
• As cryptocurrency market volatility continues, 40% of U.S. investors are buying more crypto. 1/5 of investors reported investing less in crypto, while the rest said they did not make any changes.
• Thailand's Central Bank BOT announced on Friday that it will test central bank digital currency (CBDC) by 2022 or 2023. CBDCs have already been launched in the Bahamas and Nigeria, with 87 countries considering issuing them.
• A US Senator's office is reporting that the Securities and Exchange Commission (SEC) is investigating every crypto exchange. Furthermore, the SEC is investigating Binance Coin's (BNB) 2017 ICO and Coinbase's unregistered securities listing.
• The US Bankruptcy Court has approved Voyager Digital's return of $270M in customer funds. Separately, Voyager rejected FTX's acquisition offer as too low.
• Ledger, a manufacturer of hardware wallets, is seeking to raise at least $100M. The liquidity issues facing crypto companies have caused individuals to turn to self-custody solutions over centralized platforms.
• After being hacked and losing $190M, Nomad has recovered $22M. Again, the attack highlighted the importance of securing cross-chain bridges.

Ewpple DeFi Crypto Index Fund (EWD) gained +15%.
Benchmark index loss -6% in the same period.
Benchmark index = S&P Cryptocurrency MegaCap Index (SPCMC) + Decentralized Finance Index (DEFX)

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