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Satoshi&Co Daily Crypto Newsletter #44

Join a growing list of crypto experts, leading investors and blockchain aficionados who have chosen t

Satoshi&Co Daily Crypto Newsletter

November 6 · Issue #63 · View online
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We are currently in India, and the country is currently in the middle of Deepavali this week (the festival of lights) so we want to keep the blurb very short. Too many feasts to binge on!
BTC’s volatility has dropped below 25% on an annualized basis last week for the first time in over two years. In fact, for a very brief period, Bitcoin’s 30-day annualized volatility was lower than that of the S&P 500. Yes, you read that right!
Volatility falling is a positive sign for any asset that is striving to become a store of value. However, we don’t need to tell you that dampening volatility is just a lull before the storm and will start rising again as the next bull cycle kicks off (this time perhaps due to the institutional activity). It’s truly ironic to see BTC’s period of low volatility coincide with the explosion in stablecoin projects that we are now witnessing. Perhaps, this is not a coincidence; For all we know, the ‘invisible hand of Satoshi’ is at work, in response to those among us that believe that Bitcoin can never be stable enough to used as a store of value or a unit of account.
Meanwhile in Crypto Wonderland....
“Venezuela Supreme Court Endorses Petro”
The Supreme Tribunal of Justice of Venezuela (TSJ) has ordered moral damage compensation in a workplace injury case to be paid in petros or the equivalent. The supreme court also made a second announcement, stating that it has “ordered the implementation of the Constituent Decree on Cryptoassets and the Petro Sovereign Cryptocurrency, in order to guarantee an effective judicial protection and protect the value of the amounts that are set as compensation for moral damage”.
“Bitstamp Partners With Cinnober”
Cinnober, which was acquired by Nasdaq in September, has signed on to help Luxembourg-based Bitstamp, a crypto exchange. Bitstamp’s matching system will reportedly increase 1250x, and its overall throughput will increase by 400x, according to the exchange’s estimates. Bitstamp will be replacing its own technology with TRADExpress, a software stack developed by Cinnober.
“Haun Debates Krugman”
In a recent debate with Nobel-prize winning economist Paul Krugman, Kathryn Haun, a former federal prosecutor for the US DoJ and current general partner at a16z, presented an optimistic approach towards cryptocurrencies. Haun stressed that BTC reached a mass audience quite a bit later than when Satoshi Nakamoto released the Bitcoin whitepaper - pointing to the years 2012-2013 when digital currencies became somewhat more broadly known.
“Swiss Regulator Imposes 800% RWA on Crypto”
The Swiss Financial Market Supervisory Authority (FINMA) has instructed banks dealing in digital assets to apply a risk weighting of eight times their market value  when calculating loss-absorbing capital buffers. In a confidential letter, the regulator also imposed a 4 percent cap on crypto positions as a percentage of total capital held by banks, requiring them to report when they reach the limit.
Crypto Twitter Pick
nic carter
If you want to know what academics and policymakers think about Bitcoin, the phrase "five Chernobyls" was thrown around to describe Bitcoin's energy use today
What We Are Reading / Listening To
Down 94% Since Winter, What Has Happened to ICOs? featuring Andy Bromberg and Marc Santori
Overnight Performance of Top 10 Currencies
In addition to this daily newsletter, you can find more stuff to read at our news and research portal, our crypto index token and our upcoming relayer.
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