POKKET: Today’s Market Commentary (January 13)
Bitcoin & ETH are down about -5%, trading $33425 & $1030. Movers are BQX +26%, MANA +12%, SNM -9%.
Headline this morning is the appointment of ex-CFTC chair Gary Gensler as Biden’s pick for SEC chair. He is known to be blockchain savvy and has taught Bitcoin at MIT, but is also a ‘tenacious’ regulator.
In an opinion piece, ex-Coinbase executive and current US Comptroller of the Currency (lost count of agencies/entities/groups in the US) argues a case for DeFi, saying it is paving the road for ‘self-driving’ banks; it is rumored he is stepping down this week.
Traditional markets were zzz as SPX flat and FAANGs -0.7%. DXY stuck at 90, while Gold stuck at $1850. VIX fading back to 23.3v. Russia holds more gold now than USD for the first time in history. Alibaba & Ant Financial are apparently going to be nationalized by China. Has anyone seen Jack Ma?
Check out today’s interest rates at POKKET.