POKKET: Today’s Market Commentary (December 23)

Bitcoin & ETH are back up 3% each, $23415 & $625. Coinbase futures soar 140% in the first hour of trading on FTX. Movers are GTO +22%, SNM SNX +17%, PNT +15%, OAX +10%, BQX -8%.

The big headline in crypto is the SEC filing a $1.3B lawsuit against XRP creator Ripple, alleging they sold securities without registering. Additionally, the suit says the founders helped structure and promote sales of XRP, while conducting unregistered sales of XRP totaling approximately $600M. XRP is -16% vs. BTC and -13% vs. USD.

Traditional markets look unchanged, SPX -0.2%, FAANGs +0.3%. VIX picks up 2v to 26.3v. DXY up slightly back to 90.6, USDJPY 103.61 now. Gold zzz at $1860.

The second stimulus bill was finally passed, guaranteeing $600 for every American, representing 20% of every dollar approved in the bill. It took congress 5593 pages to put the bill together, vs. the 8 pages for Bitcoin. Good luck trying to find yield – only 15% of global bonds have a yield above 2%.

Check out today’s interest rates at POKKET.

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