Market Analysis

CENTRE Consortium, formed by Coinbase and Circle to launch the USDC Stablecoin, announced that it will change the reserves composition for USDC. We contrast the change with current disclosures published by Tether for USDt reserves.
Iran's new President Ebrahim Raisi has not been on his best behavior. The actions of Iran have been increasingly aggressive, dangerous, and provocative and not conducive to securing a deal to lift sanctions on Iranian oil.
Goldman Sachs has pushed out their expectation for a Fed taper announcement to November or December due to Delta variant uncertainties.
Crypto made up 50% of transaction-based revenue in Q2, up from just 17% in Q1, and the firm guided for lower revenue and net funded accounts for the period ending September 30, 2021.
Last week, we heard a lot of “doom and gloom” talk about the rise of Covid-19 cases, but now we seem to be flipping back towards optimism about economic growth and continued stimulus. 
Expectations have mounted for Fed Chair Jerome Powell to more clearly, if not officially, communicate a timeline to begin tapering the Federal Reserve’s monthly asset purchases at his Jackson Hole speech on Friday.
Each day on the European market opening Anthony Cheung, Sam North, and Amplify Trading gets you prepared for the trading day. They focus on relevant macroeconomic insights and trade idea generation for the global macro futures markets.
Twitter’s “bluesky” project has announced hiring Zcash developer Jay Graber to lead the initiative. Bluesky was revealed in 2019 with the aim of building a “decentralized standard for social media.”
Last week, Cardano reached a market cap of $70.3 billion, about $3.4 billion less than the asset’s all-time high valuation achieved in May. The network has enjoyed outsized attention as it plans to introduce smart contracts on September 12.
Oil prices got hit in risk-off mode by the Fed’s suggestion that tapering of the asset could happen this year, along with continuing concerns of Covid-19 spread and a lack of confidence in the leader of the free world.