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Judul : HedgeTrade Weekly Insights
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HedgeTrade Weekly Insights

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Hey Traders,
Our weekly snapshot with top news, market insights, and best quotes is ready. Enjoy it, and be sure to sign up to HedgeTrade if you haven't already so you don't miss a beat!

Featured Trader

This week's featured trader EXCAVO has over 100,000 total followers and rose to the #1 spot on TradingView in late 2017. He told HedgeTrade that when it comes to monetization of content, "I sell both signals and training, but this is not the main source of income for me. The main source of income is live trading."

Top News

An anonymous DeFi builder referred to as Molly Wintermute will continue to build out the Wintermute algorithmic liquidity provider after a costly bug was found in the first version. The project recently received $2.8 million in funding from Lightspeed Venture Partners.
In IPO news, Coinbase and BlockFi are reportedly setting the stage to go public. Coinbase CEO and Co-Founder Brian Armstrong, who recently tweeted about the company's reasons for supporting government tracking, is leading Coinbase towards a possible stock listing. BlockFi CEO Zac Prince told The Block that they're looking for a CFO that may help lead them to their public offering, possibly by the end of 2021.
LedgerX and T3 have partnered to create a Bitcoin Volatility Index. They're planning to roll out what would be the first commercialized index for tracking BTC volatility. It will have some similarities to Wall Street's VIX index but will need regulatory approval before moving forward.
Unstoppable Domains launched their decentralized chat protocol "dChat", which offers end-to-end encryption for those using its decentralized website services.

In Crypto Regulation News

International money laundering and terrorist financing watchdog FATF has a new president. Dr. Marcus Pleyer of Germany took the helm after China's Xiamgmin Lui ended his 2-year term. Dr. Pleyer just began his tenure with FATF and is seen by some as a welcome change for blockchain-based companies seeking crypto-friendly regulations.
Japan has also has a new crypto "sympathetic" regulator. They appointed Ryozo Hinimo as Japan's new Financial Services Agency Commissioner.

Market Recap

Altcoiners were ready to ring in a new altseason last week, as TikTok influencers took to buying $DOGE on Robinhood. The resulting surge in activity may have been behind a crypto market rally, with bitcoin breaching $9400 and a sea of green for most top coins. The dump, however, quickly ensued. But it still gave a boost to long time altcoin enthusiasts and created some shorting opportunities for those that saw it coming.
Binance listed SNX, which is the native token for the Synthetix asset trading platform. The token can be used to enable traders to buy and sell crypto as well as stocks, fiat currencies, and gold.
Morgan Stanley takes a pass on Tesla, despite the recent rally in $TSLA stock prices. Bloomberg's Joe Weisenthal noted that:

"Nothing captures the mood of the market like this Morgan Stanley call on $TSLA, where they say the stock could surge to above $2000, but they still can't actually recommend buying it at these levels. Kind of a microcosm of so many people's thinking."
During an 8-day stretch in early July 2020, Chinese stocks added more than $1 trillion in value, which far exceeds gains in other global markets.

The Week in Charts

European countries experience a surge in online retail payments (Statista.com)

Top Quotes & Tweets

"Advocates of alternatives that don't rely as much on third parties have long criticized USDC and others like it, for being susceptible to censorship and interference. The blacklisted Ethereum address, whose owner is unknown, is an example of that." - Cami Russo, The DeFiant

"You can't win on AI if you're against immigration." - Former U.S. Chief Data Scientist, DJ Patil