Discover more from The Thinking Crypto Report
A Historic Week For Crypto!
This was a historic week for Crypto as Coinbase became the first crypto exchange to go public. It was a merging of the crypto market and traditional financial world. This is extremely bullish, it gives more exposure to crypto and further validates the market. Expect to see many other crypto companies IPO over the next 2 years. With the hype around Coinbase’s IPO the crypto market rallied pumped and Bitcoin saw a new all time high of over $64,000.
It’s alt season and the altcoins are pumping to new highs! XRP, Ethereum, VeChain and many others saw significant price gains. But the largest pump came for Dogecoin which worries me, it had over 400% gain in 7 days crossing over $0.30 and entering into the top 1o on Coinmarketcap. Doge started as joke/meme, has no cap in supply, and no utility. I’m not hating against it, I’m just worried new crypto investors that fomo into Doge will eventually get burned.
SEC’s Dirty Game
The SEC is playing dirty when it comes to its lawsuit again Ripple. Behind the judge's back, the SEC violated U.S. civil court rules by issuing multiple "MOUs" to obligate foreign governments to obtain files from Ripple's foreign business partners and they got caught. Let’s see how the Judge handles this. This past week new SEC Chairman Gary Gensler was confirmed and my hope is he comes in and cleans this mess up as the SEC is looking very bad right now.
Most bullish news from this week
$5.6 Billion Hedge Fund Brevan Howard Asset Management, the macro investment firm and part-owner of cryptocurrency hedge fund One River Digital, is itself gearing up for direct investments in crypto. (source)
The Swiss arm of insurance giant AXA will allow its customers to pay their premiums in Bitcoin (source)
Canada approved multiple Ethereum ETFs in one day (source)
I had a great interview with Wanchain founder and CEO Jack Lu. We discuss Wanchain’s recent integration of XRP enabling DeFi capabilities on the XRP ledger.
Interviews Scheduled for Next Week (4/19-4/23)
Stefan Thomas (Coil CEO & Interledger co-creator) - I had my interview with Stefan yesterday and it will be live on Monday. We discuss his time at Ripple, creating the interledger protocol, Coil and Web monetization, XRP, SEC Ripple lawsuit, and much more.
Brad Garlinghouse Ripple CEO - You don’t to miss this interview with all that is happening with the SEC Ripple Lawsuit.
Are you tracking your taxes for your Crypto trading? Be sure to do so, I personally use TaxBit to help me prepare my crypto taxes which I then share with my accountant. Visit TaxBit’s website to learn more.
Disclaimer - Thinking Crypto and Tony are not financial or investment experts. You should do your own research on each cryptocurrency and make your own conclusions and decisions for investment. Invest at your own risk, only invest what you are willing to lose. This newsletter is for educational purposes and NOT investment or financial advice.