Trader Top 9: Web 3, Kraken Settles, and CT Goes Bearish


Welcome back to the Trader Top 9! Lots to unpack this week from a great primer on Web 3 and why NFTs matter to a regulator settlement that everyone seems satisfied by. Meanwhile, traders try to assess the path forward. Let's dive in!

9. Last Friday, China banned Bitcoin for the n-th time. Sen. Toomey, a visible crypto advocate in DC, sees an opportunity for the US. Raoul Pal had a great thread about how smart regulation will help grow the industry.
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8. Meanwhile, a crypto trading hamster named Mr. Goxx went viral over the weekend. Hey all you crypto traders... how's your alpha?
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7. Prolific investor and head of a16z Crypto, Chris Dixon, generated a lot of buzz with his Sunday afternoon post on Web 3. If you don't "get" NFTs, read this. "Web 3 is the internet owned by the builders and users, orchestrated with tokens."
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6. Oopsy daisy. Fat finger mistake by Bitfinex gets forgiven hours later. What a community.
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5. While Joe Weisenthal talked about the mythical trillion dollar coin last week, by Tuesday of this week calls for "mint the coin" reached a fever pitch as a looming default draws closer. From her soapbox, Sen. Warren called Fed Chair Powell "dangerous", while Twitter had fun naming the Fed "band".
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4. The CFTC brought down the hammer, albeit a small one, on Kraken for its illegal offering to retail of margined futures. Optimistically, a clearer pathway towards proper registration may be in the works as Stump calls for clarity. Unlike the SEC who seems content to shout "Howey."
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3. We wrote about Ryan last week and his fight to bring crypto education of lobbying dollars to DC. Below is a very simple and actionable suggestion.
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2. While prices might be moving sideways, the market for exchanges is heating up. Meanwhile, FTX continues to make strong inroads in the US. Look for FTX.US soon on Cove Markets!
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1. After a very poor month for most cryptocurrencies, ShardiB highlights the bearish sentiment on Crypto Twitter. What do you think? Time to be a contrarian and go long?
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