Dubai: Crypto & Coffee at 8: 🚨 08th Nov 🚨 👀 FTX insolvency rumours👀 CPI numbers out in 2 days + Midterm elections today ⚡ Decipher hosted by Algorand Foundation
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08th Nov 🚨 Crucial Week: CPI numbers + Midterm elections + FTX insolvency rumours?

🔺📊 Consumer Price Index will be out on 10th Nov, Inflation could severely impact the price of Bitcoin & Cryptocurrency. The official source to check CPI numbers is at Bureau of Labor Statistics website https://lnkd.in/dEteY4Dg Its is scheduled to be released on November 10, 2022, at 8:30 A.M. Eastern Time.

❓How will this CPI impact the price of Bitcoin & Cryptocurrencies?

❓ With midterm elections taking place on 08th how will the crypto react?

🎧 Check out the Blockchain DXB podcast we share opinions on this

⚡ Glassnode’s weekly insights state Bitcoin faces strong resistance as it approaches several key on-chain cost basis. The article talks about the USD wealth held by young coins is at an all-time low, representing only 10% of the network Realized Cap & new dashboard called HODL Wave Dynamics. Article here https://lnkd.in/ddt94UH3

⚡ CoinShares weekly blogs via Medium discuss mixed sentiment following the FOMC announcement last week. The blog also confirms Digital asset investment products saw minor outflows totalling US$15.6m & Bitcoin saw outflows totalling US$13m for the week. With CPI numbers out on the 10th, how will this impact the inflow/outflow and the price of Bitcoin & Cryptocurrencies? Blog here https://lnkd.in/d7GE75X9

🔥 FTX What is going on?

🔥 Where there is fire there is smoke. Speculation mounted over the weekend about the solvency of extreme left-leaning billionaire Sam Bankman-Fried’s FTX crypto exchange. CoinDesk published the balance sheet of FTX’s sister company Alameda Research was loaded with FTX’s native exchange token FTT.

🎩 Tokens created out of thin air An article by Coindesk here https://lnkd.in/dXeREY3S states Alameda had $14.6 billion of assets as of June 30, according to a private document CoinDesk reviewed. Much of it is the FTT token issued by FTX, another Bankman-Fried company. Cory Klippsten, CEO of investment platform Swan Bitcoin said “It’s fascinating to see that the majority of the net equity in the Alameda business is actually FTX’s own centrally controlled and printed-out-of-thin-air token,”

📛 The turmoil surrounding the crypto exchange FTX exchange has made user withdrawal complaints amid major token movement. Rumours emerged about the former exchange becoming insolvent & holding an illiquid balance sheet.

👎🏻 This news is also having an impact on Centralized blockchain Solana & NEWSBTC article states Solana Plunges 12%. Article here https://lnkd.in/dHipiThj They could easily stop users from selling again. Another article states Exchange Sees 47% Drop In On-Chain Balance https://lnkd.in/dWKcQeyb Check out our podcast to get out commentary on it.

💥 Two UAE news: ( See slides) ⚡ Fintech Abu Dhabi festival: Transforming the future of Finance 14th -18th November ⚡ Decipher hosted by Algorand Foundation 28th — 30th November

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