US Freeway Friday Update — 26 August 2022

Sadie Hutton

Published in

Freeway

9 min readAug 26, 2022

See what is happening in the non-US Freeway ecosystem with the video update below from the global platform.

Click to hear from Sadie and get all the latest from Freeway world.

In this week’s edition of the Freeway Weekly Update, you get a roundup of Freeway’s August highlights, plus a look forward to part 2 of the Freeway World Tour!

Hey #FreewayFam,

Freeway’s August highlights

As temperatures soared in August and record highs were reported all around the world, Freeway was busy making its own summer highlights. Here’s our monthly roundup for US and non-US platforms combined …

$25 Million User Rewards
The total rewards earned by Freeway users in our Supercharger simulation surpassed $25 million dollars.

$2.5 Million Referral Rewards
Referral Rewards earned by Freeway users within the Supercharger simulation, surpassed $2.5 million dollars. And all within just six months since Freeway’s Referral Rewards program went live!

$152 Million Superchargers
The total for user Supercharger simulations now stands at over $152 million dollars

6.75 Billion FWT on Freeway
The number of Freeway Tokens held or staked on the Freeway platform now stands at 6.75 billion, which is 82.06% of the current circulating supply.

$25,000+ Donations To Charities
Freeway is donating well over $25,000 to charitable causes. And the Freeway Charity Supercharger continues to grow day by day.

8 New Freeway Hires
And Freeway continued our hiring drive with 8 new hires in July and August across multiple teams, including tech, marketing, business development and HR.

And next, we promise you a September to remember, as Freeway will release an updated roadmap, with some exciting new developments for the FreewayFam…

Freeway’s Latest Growth Stats

Here are Freeway’s latest corporate growth figures in full…

US Freeway users = 5,981
US total Supercharger simulations = $33,985,043
US closed-loop FWT staked = 660,403,633

Freeway’s World Tour Continues

After a summer break, Freeway is back on the road for the second leg of the 2022 world tour.

Biz Dev have their passports and toothbrushes packed and ready for three more pitstops, including:

Token 2049 Singapore in September
Bitcoin Amsterdam and Money20 USA in Las Vegas in October
And AIBC Malta in November

And there’s still plenty of time for you to plan your trip if you’d like to hook up with the Freeway team at any of these events. We’d love to see you there…

Guerrilla of the Week: DW

Telegram: @dwBUX

DW is the kind of Freeway story that often finds its way to winning this award.

After keeping a close eye on Freeway for some time, he has engaged more and more with the community, and grown from being an on-looker, to becoming an engaged community member, and then a passionate and valued member of the FreewayFam.

As you’ve been engaging more and more, your passion caught our eye, as did the effort you put into helping others within the community. So we wanted to show our appreciation for you with this week’s GOTW! Congratulations.

Agent Alpha on: Jackson Hole is BIG, but what next?

Agent Alpha’s statements are solely his own opinions and market commentary, are for entertainment, and are neither endorsed by, nor represent the views of Freeway. You should always do your own research and seek independent expert financial advice.

Having waxed lyrical about my view on the Jackson Hole Symposium as ‘the market event of the year’ for months really (regular Alpha readers will be familiar — and please see Wednesday’s piece for details on this view). Well, we’re finally there. Fed Chair Powell speaks today at 3pm UK time, and you’ll be reading this soon after his announcement.

Here’s my view on things, before Powell’s speech begins

Firstly, some context on the policy signalling: FED Chair Powell’s minions (other FED Governors) have consistently repeated their hawkish narrative to the markets in the build up to this event. This of course begs the obvious question, can Powell out-hawk his own minion hawks? My view is he cannot and will not.

Secondly, an obvious follow-on observation, considering how well markets have been holding onto their significant summer gains off lows, despite this consistent hawkish minion narrative. Markets at current levels sit evenly balanced on a FED September hike being either 50 bps or 75bps. Does it really matter which way it falls? Not really (and I believe it will be 50bps regardless).

Thirdly, the likelihood that Powell says anything different of note, to pull the narrative away from his minions hawkish stance, is virtually zero. That is not the point.

What is the point, however, is that any deviation (and by that I mean any hint that policy is dictated on data dependency), any hint that the FED must be careful not to overkill things (as so many US macro metrics are now already in freefall — see Alpha midweek piece for reference), will be more than enough to keep markets in their current comfort zones.

Essentially, Powell cannot throw any additional hawkish curveballs. What about a pivot? It really comes down to ‘tone’ and his tone has been pivoting every time he has taken the stand at pressers for months already — hasn’t it? That’s why markets surged through the recent summer months off his post FOMC July presser, when he stressed not to ‘overdo things’.

So despite my midweek message that this event cannot be ‘overestimated’ as to its importance, it actually wouldn’t surprise me that much now, if this Jackson Hole Symposium ended up the biggest ‘non-event’ in Jackson Hole history, considering the anticipation?

So below is my latest S&P chart, as the global ‘risk proxy’ benchmark, which now trades into this event > resistance levels (> all MAVs and remember it’s exponentials NOT simple MAVs that matter for pros — so many get this wrong).

I highlight support at c. 4087 being the 50-day MAV, should Powell be taken negatively; and I highlight the ‘big’ upside target area, should Powell be taken positively or benignly (as I expect which is essentially positive anyway), which is the right shoulder area > 4637. This > 4637 area negates that longer-term bearish structural Head & Shoulders dynamic, which has been in play and pressuring all risk on strategies since Sept ’21. It really is that important.

Now here is the thing — what investors will be focusing on post-Jackson — as this is the ‘value’ right here…

CHINA and their stimulus moves

They (Chinese leadership) are getting quite desperate now re: how fast and severe the slowing of their economy is progressing. So much so, that yesterday yet another stimulus move was announced to the tune of c. CNH1 Trillion ($150Bn). The leadership is at pains to insist this stimulus, which comes off the back of a multitude of recent other stimulus measures including rate cuts, is not to be thought of in the sense of old school stimulus measures the Chinese routinely engaged in re: construction and so forth throughout the last couple of decades. The point here being, of course that is EXACTLY WHAT IT IS.

So investors will soon focus on a probable marked YUAN devaluation and a possible HK$ peg break too (remember the HK$ is USD pegged). In summing up, what is quite crucial considering the domination of inflationary concerns throughout the world and the FEDERAL Reserve, to all those points made above, is a deflationary impulse dynamic for the World from the Chinese economy.

Stimulus = capital flight = devaluation risk = global deflationary pressure.

And to this point, consider the following metrics, as I highlight two very ‘interesting’ charts re: China’s situation.

The first is the obvious interlinkage between the US and Chinese economies that march in lockstep. And the second is the Chinese debt burden as a % of GDP to private citizens, and how this is marching inexorably higher, as the largest in the world.

China is slowing down at such a pace, forcing stimulus (old sch.) in a desperate attempt to stop the rot, that their system is essentially sinking and that the only pressure value to alleviate this in a short-term fix, is a concerted devaluation. The reverberation into the USA, in particular, is enormous.

My point here is merely to highlight the growing focus of markets as Jackson Hole ceeds into the distance, and I will elaborate on this accordingly in the coming weeks.

I am going to conclude with this chart below, of the current hedge fund positioning snap-shot into today. As you can see, they’re heavily positioned and quite desperate for ‘bad news’.

Hmmmmmmm, food for thought no?

Until next week!

Alpha

Thursday’s AMA on Twitter Spaces

Once a week on a Tuesday at 6pm UTC, Freeway holds an internal AMA in the Freeway Telegram channel that gives the community a chance to ask direct questions with core team members.

This week however, we moved the AMA to Thursday, which was live on Twitter Spaces. If you didn’t make it, you can still listen to our recording of the live AMA.

Click below to join the official Freeway Telegram group.

If you’d like to participate in the next AMA on Tuesday at 6pm UTC, where you can ask Graham anything, join the Freeway Official Telegram group here.

As always, we love hearing from you, so please join us on Telegram, follow us on socials, and if you want to hear from us and you want to hear it first, sign up for the newsletter.

Facebook: https://www.facebook.com/FreewayFi
LinkedIn: https://www.linkedin.com/company/freewayfi/
Twitter: https://twitter.com/FreewayFi
Instagram: http://instagram.com/freeway_fi

Until next week,

Sadie Hutton

Co-Founder and CEO

New to Freeway? Here’s Everything You Need To Know…

We’ve put together simple resources for people that are new to Freeway. The below articles will help you discover everything you need to know including:

Freeway Offers #AccessForAll

Any eligible user in more than 150+ countries can create an account for access to the Freeway Platform, Supercharger products, staking FWT and Freeway Referral Rewards.

Visit our website Freeway.io to get access to Freeway now!

The US Freeway Weekly Update is intended for US citizens and residents only. US citizens and residents must access a distinct platform with limited features, which may be viewed at www.freewaylite.us and adhere to US regulations. Any statements herein relating to the non-US platform should be disregarded. The statements in this newsletter are subject to change and should not be relied upon when making financial decisions. Some of the statements by third parties included herein are not necessarily endorsed by or represent the views of Freeway. You should always seek independent advice before making financial decisions.

Supercharger and Freeway are trademarks of AIP Management Limited registered in the U.S. and other countries and regions.