Welcome back to another Trader Top 9. This week saw a lot of aggressive regulatory action, some not-so-fun price action, and a continued decline in bitcoin volatility.
9. In what honestly can’t be a huge surprise to anyone, John McAfee has been arrested for tax evasion surrounding his ICO promotions - which netted him more than $22m
8. In even bigger regulatory news, the UK’s Financial Conduct Authority has banned all retail crypto derivatives. The reactions ranged from “non event” to “look at the hypocrisy”
7. Meanwhile, back in the US, the President announced the unilateral end of stimulus negotiations and everything - even bitcoin - tanked. Shows you how on the drip of cheap money drugs the markets are.
6. Of course, this brings up a question that has been swirling for months: how correlated IS bitcoin to equities? Lyn Alden argues it depends on where in bitcoin’s cycle it is.
5. For all our grousing about cheap money, an interesting thought experiment is: what would we do different? Real Vision asks exactly that.
4. Still, it’s hard not to feel a little bummed about the price action this week. DeFi feels a little deflated.
3. FTX Sam acknowledges that pain and gives a little advice.
2. One great thing to do when markets are down is learn learn learn - maybe, just maybe, about a thing you’re not well versed in.
1. And remember, things don’t tend to stay calm long.