“The near 40% jump in the U.S. money supply over the past year sparked concerns about rising inflation, especially in bond markets like U.S. Treasurys. While a sharp slowdown in the money supply’s expansion is expected over the coming months, the growth is expected to continue at a breakneck pace relative to historical norms, according to a new report.
We reckon that the increase in M2 this year will be about $2.5 trillion to $3 trillion. This implies that M2 will rise by some 13% to 16% in the year to December.
The current spike in M2 growth will not be reversed, even after the economy recovers. Central banks everywhere are terrified of outright declines in the nominal money supply, because they are rare and are associated with depressions.
Nothing like this has ever happened before.
The question then becomes, how far does inflation rise, and how quickly does it increase?”
“Zurich-based investment firm Tavis Digital has partnered with Singapore-based Persistence, a bridge for traditional firms into undiscovered realms such as token staking and decentralized finance (DeFi). The tie-up with Tavis is a demonstration that some traditional funds are going beyond merely adding bitcoin as an asset class.
Tavis Digital is a spin-off of Tavis Capital, an asset manager regulated by the Swiss Financial Market Supervisory Authority (FINMA) with about $1.07 billion in assets under management.
We white-label our services to institutional clients and stakeholders who do not know how to run a validator node.
With backdrop of most parts of western Europe now at 0% interest rates, or negative interest rates in certain jurisdictions, there is an increased demand from institutional folks to generate fixed income yields. And that’s what Tavis Digital is trying to do – create this fixed income fund vehicle and generate returns from proof-of-stake mining as an asset class.”
“The two firms will jointly launch “Terra Pool,” a bitcoin mining pool exclusively powered by clean energy. Terra Pool will initially consist of both Argo’s and DMG’s hashrate, which is mostly generated by hydroelectric resources.
The agreement comes amid rising criticism for the energy used by the crypto mining industry and its potential impact on climate change.”
“The throughput-boosting Layer 2 project said rushing its mainnet launch could have consequences for unprepared projects. ‘There is a very real risk of’ projects getting fraudulently forked by bad actors.
Optimism called July a “rough estimate” for its mainnet launch. A hacker-ready testnet will debut in late April.“
“Citizens of Beijing and Shanghai can now apply to one of six state-owned Chinese banks for a digital yuan wallet.”
“Superchief, an artist collective that operates galleries in New York and Los Angeles, announced the launch of the new gallery in the Union Square neighborhood. The location will display NFTs on auction on high-res screens. Featuring over 300 artists, each will be auctioning a one-of-one NFT of their displayed work, as well as a 72-print drop.
Russia’s Hermitage museum will be hosting a NFT exhibition set to include works from artists like Abosch, and on Friday, a museum in Beijing opened what it claimed to be the first “major” NFT exhibition.
Likewise, critic, collector and artist Kenny Schacter is planning a dual physical-and-virtual show at German gallery Nagel Draxler on April 9, possibly a world’s first, which will run simultaneously in the Metaverse at the Museum of Crypto Art and the Museum of Contemporary Digital Art.”
“Fractionalized NFTs and baskets of non-fungible tokens could easily be considered investment contracts under U.S. securities law, warns SEC Commissioner, Hester Peirce. Peirce urged NFT issuers to be cautious if they decide to “sell fractional interests” in NFTs or NFT baskets, stating:
You better be careful that you’re not creating something that’s an investment product — that is a security.
With NFTs fetching increasingly exorbitant prices, fractionalized interests in these assets enable smaller investors to still be able to gain exposure to a small share of a high-priced NFT.”
“Decentralized exchange SushiSwap has announced the “rolling release” of Kashi, a specialized lending platform specifically designed for margin trading on the exchange, and BentoBox, a dual-purpose yield vault. Kashi also features flash loans.
Kashi aims to let traders borrow assets for creating leveraged long and short positions, similarly to other lending platforms like Compound or Aave, and BentoBox will enable users to earn interest from farming liquidity pools while simultaneously using the same tokens to contribute to lending pools.
Kashi is one of the first major implementations of SushiSwap’s 2021 roadmap, which aims to diversify the exchange beyond a pure automated market maker platform.”
“Chainalysis, a blockchain tracking firm whose client base includes government investigators, crypto exchanges and even financial institutions, raised $100 million in a round that underscores surging demand for cryptocurrency compliance infrastructure.
The Series D raise values the New York firm at $2 billion.
The FBI, Internal Revenue Service (IRS), Department of Homeland Security (DHS) and other federal offices spent over $10 million on Chainalysis in 2020. A growing global rolodex spans government agencies in 30 countries and companies in 60. Gronager said private-sector tie-ups continue to be a major source of new partnerships for Chainalysis.”