Industry Insights

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Headlines from Weekly Newsletter
September 22
142,000 Bitcoin 'Unlock' Deadline Extended by 12 Months
The immediate fear of selling pressure from the release of 142,000 Bitcoin that has been locked since 2014 is relieved. The return deadline for the remaining Bitcoin in the bankrupt Mt. Gox Bitcoin exchange estate has been extended by a year, shifting from its original date of October 31, 2023, to October 31, 2024. The Mt. Gox repayment process has continuously and notoriously been delayed for the last five years. You should, therefore, not consider the deadline on October 31, 2024, as absolute. Further delays can happen. That said, according to the trustee, creditors that have provided the necessary details for repayments will start receiving repayments late this year. Mt. Gox's 127,000 creditors, primarily former exchange customers, have patiently awaited their share of the estate's assets since 2014. Currently, the trustee oversees 142,000 Bitcoin (worth $3.8 billion), 143,000 Bitcoin Cash ($30 million), and 69 billion yen ($470 million) to be distributed among the creditors.The Mt. Gox exchange suddenly halted all operations in February 2014 when they discovered that most of the exchange's 850,000 Bitcoin, 750,000 held by customers and 100,000 by the exchange were gone. Without the exchange noticing, hackers stole 650,000 Bitcoin between 2011 and 2014.
Little crypto market impact from interest rate decisions
The recent interest rate decisions from the U.S. Federal Reserve Bank (FED) and the European Central Bank (ECB) on Wednesday had minimal impact on the crypto markets. The Federal Reserve maintained its interest rates, while the ECB implemented a 25bps increase.The rate decisions were as anticipated, with no substantial shifts in the central banks' outlooks that significantly altered market expectations. In 2021 and 2022, the crypto markets exhibited strong correlations with macroeconomic variables, but these correlations have largely dissipated in 2023. Consequently, monetary policy decisions have a diminished influence on the crypto market compared to the past two years. This is great news for crypto as a portfolio diversifier.Instead, crypto specific events now have the largest impact on market direction. Examples of such events are the approval or denial of U.S. crypto ETFs and liquidity events like the ongoing Mt. Gox situation.
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19 Sep 2023
DeFi Simplified - Let The Pros Do It For You
In this week's Navigating Narratives, our DeFi analyst David Zimmerman shows you how you can outsource your DeFi trading to proven altcoin traders - in a fully trustless manner.
13 Sep 2023
Altcoins – Are You Trading or Are You Punting?
The common way to profit in altcoin trading has been to buy early, hope for the rip, and sell before it crashes. In this week's Navigating Narratives, David Zimmerman argues that you should have more than the buy-and-hope strategy in your toolbox.
14 Aug 2023
Cryptocurrencies: A trillion-dollar market
Ten years ago, the concept of cryptocurrencies was a nascent and largely unproven technology, with their collective value teetering close to zero. Fast forward to the present day, and the crypto landscape has undergone a staggering transformation.
30 Jul 2023
The U.K. accounts for 1/3 of crypto employment in Europe
In Europe, the United Kingdom sees nearly a third of all crypto employment, while EU majors France, Germany, Spain, and Italy represent a further 23% of European crypto employment.
23 Jul 2023
Asia employs 35% of the global crypto workforce
Multiple hubs, major domestic exchanges and a flourishing labor market.