Trakx Weekly Update: November 21, 2022
Key Crypto Market Figures
Crypto Tradable Indices (CTIs) Weekly Performance
After the tumultuous week prior, crypto prices found some semblance of stability for the past seven days. However, as we outlined in our recent webinar (recording passcode =%G^c6GE), we are likely in the eye of the storm. Given the ongoing revelations about the FTX saga, contagion is almost guaranteed as evidenced by the lending units of Genesis and Gemini pausing customer withdrawals. Two high-profile tokens that contributed to losses in three of our CTIs (ESG, Top Blockchains and Top 10 PoS) were Solana and ETH. The former has suffered due to the strong association with FTX co-founder Sam Bankman-Fried while the latter was negatively impacted by the news that the Ethereum Foundation removed guidance about the timeframe by which ETH staked ahead of the Merge can be withdrawn (initially expected to be six months).
Source: Coingecko and AlphaVantage
Market Trends
- GBTC Bitcoin discount nears 50% on FTX woes as investors stock up: Cointelegraph
- Crypto firm Multicoin expects contagion from FTX to wipe out many trading firms in coming weeks: CNBC
- Ether staking withdrawal schedule removal faces harsh criticism: Cointelegraph
- 'A complete failure of corporate controls': What investors and accountants missed in FTX’s audits: Coindesk
- DeFi is the answer to the FTX crisis—but we must get better at communicating it: Decrypt
- Proposal: non-profit fighting for sound crypto regulation – Adan thanks the whole Cosmos community for their crucial support: Adan
Trakx News
- Lionel Rebibo and Ryan Shea hosted the webinar FTX Aftermath about the impact on Trakx and the crypto market. For those who couldn't make it, here is the recording (passcode =%G^c6GE)
- Ryan Shea was quoted in Marketwatch
Trakx CTIs Performance
Sources: Coingecko and AlphaVantage
*Return of bitcoin is calculated since 01/05/2020, while CTIs performances were calculated since their respective launch date.
**Includes simulated performance.
***The risk signal is determined according to the historical volatility level, the higher the riskier.
Trakx is a global fintech company creating new standards for digital asset investments. Through our trading platform, we offer thematic Crypto Tradable Indices (CTIs) and customised solutions, providing sophisticated investors a high degree of compliance, custody and liquidity. Trakx is registered with the French regulator (AMF).
Disclaimers: No Investment Advice. Index returns and statistics are for illustration only. Index returns do not reflect any transaction costs or expenses. Past performance does not guarantee future results. The information provided in this newsletter does not constitute investment advice, financial advice, trading advice, or any other sort of advice and you should not treat any of the newsletter content as such. Trakx.io does not recommend that any cryptocurrency should be bought, sold, or held by you. Readers shall conduct their own due diligence and consult their financial advisors before making any investment decisions.
