tl;dr So many questions about the bailout of Credit Suisse add weight to the flight to safety in cryptos. Market Snap Market Wrap The failure to hold on to the 28-handle must be seen in the context of BTC’s ongoing decoupling from equities, and the near 40% gains over the…

tl;dr A cheeky story and an apology. Market Snap Wall Street (Jun futs) Market Wrap The US Fed has moved from offering other dollar swap lines to other Central Banks from a weekly to a daily basis: https://www.federalreserve.gov/newsevents/pressreleases/monetary20230319a.htm Given the current stress in the banking system, one should expect more…

tl;dr A look at a naysayer, and two yessayers. Market Snap Market Wrap We saw yesterday that the Fed has doubled down on the core problem with Basel II by lending cash against US Treasuries valued at par regardless of their market value. Now I learn that the annual stress…

tl;dr More stuff about banks. Apologies, but I don’t set the agenda. Perhaps if I did, the world might be a better place. Market Snap Market Wrap This flight to safety embracing cryptos, though welcome, is also a little worrying. Cryptos are far more than just a store of value…

tl;dr Concerns about bureaucrats overriding democracy grow ever more urgent. Market Snap Market Wrap First Republic has been saved by a consortium of US investment banks, whilst Credit Suisse continues to teeter on the edge despite massive government intervention. The very nature of fractional reserve banking means that no bank…

tl;dr It’s all about the banks, but possibly not in the way one might think. Market Snap Market Wrap After that stunning move at the beginning of the week, wrong-footing many people, a period of consolidation is to be expected. …

tl;dr My view of why cryptos prices are rallying hard. Market Snap Market Wrap $26k. What more do I need to say. Curious Cryptos’ Commentary — The TradFi banking collapse First Silvergate, then SVB (Silicon Valley Bank), and, as of Sunday, Signature Bank. The first was very crypto focussed, the…

tl;dr DeFi (decentralised finance) is more complex than some realise, reinforcing one of the key lessons we all need to appreciate when using cryptos. Market Snap Market Wrap The collapse of SVB (Silicon Valley Bank) that we touched on yesterday is already causing ructions elsewhere. The GFC (Global Financial Crisis)…

tl;dr The ramifications of the FTX fraudulent fiasco continue today with the de-pegging of USDC. Market Snap Market Wrap Though stocks are suffering in the wake of the collapse of SVB (Silicon Valley Bank) cryptos are holding up remarkably well, with BTC regaining the all-important 20-handle. The leveraged children are…