Yuga or Yug
3 min read

Yuga or Yug

Cryptic ball: time to build new stablecoins.

As anticipated yesterday, not much is happening in the markets and such boredom shall continue for a while. Powell is speaking now in a WSJ conference, with some arguing that the Fed's Chair isn't say much of interest. Is that the case?

  • Initially yes, but Powell just answered another question saying that "the economy is too uncertain to provide guidance" and both US stocks and crypto started dumping. Not much, but it's crazy how the man moves the markets.
  • Bitcoin just fell 2.5% in 15 minutes, while the S&P 500 dropped 1%. I'm expecting these moves to be bought up again as traders understand this was just short-term manipulation of the most powerful central banker's speech.
  • On other news, did you know China is back to mining Bitcoin? The country currently accounts for roughly 20% of the BTC hash rate, after Cambridge data showed it fell to 0% last year. Let's hope China doesn't try to ban it again!
  • As for the next days, let's see for how long can bitcoin keep trading around $30k. Any deviation from that level will be widely felt in alts, which haven't recovered since last week's implosion of Terra and its UST stablecoin.

Oh, and if you're curious about the topic, check my latest project: Yug Network. It is a fully collateralised stablecoin that is backed by government bonds, an idea which was recently floated by Su Zhu from Three Arrows Capital and for which we already have a patent in the US. This is the time to build!

Chart art: time to be early.

a16z crypto released a great State of Crypto 2022 report, check it out below!

Three things: time to regulate.

Tweet tip: time to rebirth.

Gigantic Rebirth is the boss.

Meme moment: time to revoke a Nobel prize.

LMAO, Egas Moniz, is that you?

FV Bank: new user interface.

Learn more about our enterprise banking solutions for fintech and crypto companies.

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Our newsletter offers opinions and insights from analysts in the cryptoasset space. It is not intended to be investment advice, and should not be treated as such. You must not rely on its information as an alternative to financial advice from a qualified professional. Without prejudice, we do not undertake or guarantee that its information is correct, complete or non-misleading; or that the use of the guidance in the report will lead to any particular outcome or result.