POKKET: Crypto Market Update (May 7)
Bitcoin and Ethereum are both softer -1% to $56300 & $3500. Movers are OMG +24%, SUSHI +15%, 1INCH +13%, ZRX MANA +11%, PNT -17% in Pokket listed tokens.
Square posts an earnings surprise, as Bitcoin revenues are up 11x. Goldman Sachs is now going to offer Bitcoin derivatives to clients in the form of NDFs, or non-deliverable forwards. Scaramucci’s SkyBridge has approached NYDIG as its Bitcoin ETF custodian according to recently filed docs.
The current SEC Chair says Congress should consider regulating crypto exchanges in order to protect consumers to decrease fraud and manipulation.
According to the Fed’s latest market participant survey, crypto is now, viewed by 5 of the 24 professionals asked, a threat to financial stability. Amazingly, the Fed’s own staffers made no mention of crypto in their own analysis of the risks.
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