Crypto528 Market Update #3 by Mark Magliocco as at 21 August 2022 (CBP 358) | 21 August 2022

This is the 3rd episode of the Crypto Market update with Mark Magliocco covering the week of 8 August to 21 August 2022. All discussions in this episode are for informational purposes only and should not be relied upon as legal, business, investment, or tax advice. You should consult your own advisers as to those matters. References to any securities or digital assets are for illustrative purposes only, and do not constitute an investment recommendation or offer to provide investment advisory services

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This session was quite heavy with discussions around:

1st | The tweet Changpeng Zhao, the CEO of Binance (or “CZ” as he is known on Twitter). The tweet in question was “They are silently in Crypto” and the screen shot from the article “Top 100 Public Companies Investing in Blockchain & Crypto Companies” | Click on the link here to access the full article: https://bit.ly/3AaDThw

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2nd | Blackrock and their investment in Circle, the creator of the stable coin, USD Coin or USDC. Given the recent failures and hacks of several stable coins, Mark highlighted the importance of ensuring you invest in a reliable stable coin. Basically, do your research

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3rd | Canadian pension fund giant Caisse de dépôt et placement du Québec (“CDPQ” $150 million write-off of its investment in bankrupt crypto currency lender, Celsius Network. The discussion also made parallels to the 2008 financial crisis which saw many small banks from Iceland lose out from investing in sub-prime mortgage instruments or “Collateralized Debt Obligations” (CDO’s). What are the similarities? Low risk investors like pension funds and small chartered banks seeking higher yields end up investing in higher risk assets.

To learn more about the CDPQ write-off, click on the link to this Crypto Potato article: https://bit.ly/3T9YxXw

To learn more about the 2008 Iceland bank failures, click on this Economist article: https://econ.st/3Tj3nSG

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4th | Crypto.com obtains regulatory approval in the Cayman Islands as a “Virtual Asset Service Provider” | link to article: https://bit.ly/3QJymFBas

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5th | Yahoo Finance and the Bitcoin charts. Once again, Mark provided a brief summary of the technical trading analysis available for free from Yahoo Finance

Yahoo Finance | https://yhoo.it/3zHl1q0

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A selection of other companies and / or individuals mentioned in this episode:

Talos | https://talos.com

Binance | https://www.binance.com/en

Goldman Sachs | https://www.goldmansachs.com

Huobi Token | https://www.huobi.com/en-us/

Nouriel Roubini | https://nourielroubini.com/

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Twitter handles of the participants in this episode:

Mark Magliocco | @nomadicsesh

Allen Wazny | @allenwaz

Crypto528 | @crypto528DAO

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