Written by

K33 Research

K33 Research

05 May 2023

The Friday Focus - Issue 84

The SEC ordered to answer Coinbase promptly, FED raised interest rates, and positive results for several crypto companies—this and more in the Friday Focus below.

Top stories

  • U.S. court orders SEC to respond to Coinbase allegations within ten days

  • The FED raises interest rates by 25 basis points, signals a possible pause

  • The rising Bitcoin price in Q1 affected crypto company results positively

Last week, Coinbase struck back against the SEC after being put under investigation for its Earn product, wallet service, and exchange activity. The SEC's answer might come quicker than expected, as a U.S. court ordered the SEC to respond to Coinbase's allegations within ten days

The Federal Reserve (FED) acted according to market expectations in its interest rate meeting on Wednesday. The FED raised interest rates by 25 basis points while signaling a likely pause to rate hikes.  

Some publicly listed crypto heavy-hitters published their Q1 results this week. The Coinbase share price rose as Q1 revenue grew 23% from Q4. Block's Q1 bitcoin revenue rose 18% from Q4, and MicroStrategy returned to profits.

Other News

From our Analysts

NEW REPORT: What is Web3?

Misconceptions, current adoption, and the potential. 

Web3 is an unclear and misused term. We steer clear of buzzwords and explain it simply and clearly for everyone to understand. 

Read the full report here.

May Outlook: No blow-off top – yet

May is shaping up to become a volatile month, says market analyst Vetle Lunde. 

Read the full May outlook here.

Weekend Reading

Crypto’s Macro Drivers – It’s Not Just About Bitcoin

The macro outlook and why it matters for bitcoin and other crypto assets. An analysis by Noelle Acheson, CoinDesk’s former head of research.

Where the Rubber Meets the Road A MEV-Aware, Functionalist Review of OFAC Risk "on the Base Layer".