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VC alone is expected to be monumental this year, DL News reports Why VC Investments Into Crypto Are Seen To Hit $25bn In 2025. That leads not just to nifty Squid Games cartoons but also to… A lot of concerns. Given this vast influx of cash for instance, how come SO many crypto related projects are struggling to keep funding? That’s IMHO a huge worry as a lot of folks are running on relatively meagre budgets having failed to find their sweet spots along the way. I am not sure this is good news as it seems a blind wall of money is being thrown at an industry that has vast stock inflation in places but mostly still loses money? That’s gold rush meets bubble territory I fear.
“It’s job done and I’m out of here!” says Bo Hines as he heads out of DC: White House Crypto Adviser Announces Departure (The Manila Times) / White House Crypto Council Director Departs—Says US Now Positioned As Global Crypto Capital (Bitcoin News) Bo Hines To Leave White House Crypto Post, Eyes Turn To Successor (Decrypt).
As entirely expected given recent denials but perma rumours, Binance Founder Zhao Seeks Pardon From Trump For Money-Laundering Violations (Yahoo Finance). That I think is a knotty problem for POTUS.
As Binance Turns To Traditional Banking For Crypto Custody (The Block), in a different form of custody, At Least 1 Bitcoiner Gets Kidnapped Every Week — Crypto Exec (Cointelegraph) and without taking a person hostage, New Ransomware Group Embargo Launders $34M In Crypto From US Hospital Attacks Since April (Cryptonews).
In Africa, Ethiopia Freezes New Power Permits For Crypto Miners Amid Grid Constraints (Bitcoin News).
As a Crypto Treasury Firm Begins Deploying $500M War Chest To Buy BNB (Yahoo Finance), one wonders if this is all a self-fulfilling prophecy or a mega bubble.
Interesting move as InterContinental Exchange ICE Taps Chainlink To Bring Forex And Precious Metals Data Onchain (Cointelegraph).
Finally, is it a bubble or the future? Bitcoin Is The Perfect Asset Says Willy Woo (Cointelegraph). Apparently Willy Wu is “a Bitcoin OG” who proclaims it the “perfect asset” for the next 1000 years.
Hmmm, 1000 years, quite the timeline…
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ICE Up,
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BOOKS WORTH READING:
Finance Book Of The Week
“Plumbers and Visionaries: Securities Settlement and Europe’s Financial Market” by Peter Norman takes a look at a critical segment of the global capital markets, from the free-wheeling days of the Eurobond market in the 1960s…
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Capital Market Revolution
First published in 1999, “Capital Market Revolution!” offered a clear, concise roadmap for navigating the financial revolution fueled by technology. And 25 years later, as the world of fintech continues to evolve, the core principles laid out in the book remain surprisingly sharp
This new edition was produced to celebrate PLY ringing the NYSE Closing Bell July 5th, 2024. There are several new sections of PLY pith to add 10,000 more words of context and the original book which is remarkably prescient and elegantly dated all at once! It’s only $9.99 on Kindle, a fraction of the original price in 1999 to encourage revolutionaries with any budget!
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