Dubai Crypto & Coffee at 8 ☕ 🚨 Dubai: 12th Jan 🚨 🔻Inflationdown 6.5% 🔺Bitcoin 😨 BREAKING! & Scary info about Digital Currency Group😨 Global Crypto crosses $900B 🔥 Two UAE Blockchainnews
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2th Jan

🔻Inflationdown 6.5% 🔺Bitcoin 😨 Scary info about DCG & Global Crypto crosses $900B.

📊 Official information regarding CPI ( Consumer Price Index) can be found Bureau of Labor Statistics https://lnkd.in/dZBYUEsx A decrease from 7.1% in November. Was the decrease in inflation because of the $1.7 trillion in federal spending law & what kind of an impact will low inflation have on the price of cryptocurrencies?

📑 James Butterfill, Head of Research at CoinShares told Decrypt “The the market seems to be interpreting this as dovish, for the most part,” “From a crypto perspective, this is likely to be supportive, as well” Article here https://lnkd.in/d844tWyY

✍🏻 An interesting blog via Medium on the 9th stated Minor negative sentiment persists with outflows of US$10m & Bitcoin saw minor outflows, totalling US$6.5m, for the 3rd week in a row implying sentiment at the beginning of 2023 remains negative. This could be only pertaining to last week. XRP on the other hand saw inflows totalling US$3m, which could be due to clarity on its legal case with the Security Exchange Commission

🖥️ Glassnode’s weekly insights on the 9th also confirm Bitcoin inflow volumes are currently between $350M and $400M/day, which are a far cry from the multi-billion dollar levels seen throughout 2021–22. Article here https://lnkd.in/drzWRsfy

👺 Scary 😨 Financial Times has reported that Crypto broker Genesis owes creditors more than $3bn, prompting its owner Digital Currency Group to explore selling assets in its large venture portfolio to raise money, according to people familiar with the matter.

🔥 DCG, a conglomerate that controls crypto media outlet CoinDesk and investment manager Grayscale Investments, is seeking to raise fresh cash after its Genesis unit was wrongfooted in November by the collapse of FTX. Article here https://lnkd.in/dVZaMyRN What kind of an impact will this have on the crypto market? As the article states DCG is considering offloading parts of its venture capital holdings, which include 200 crypto-related projects such as exchanges, banks and custodians in at least 35 countries, and is worth about $500mn, according to people familiar with the matter.

❌ Barry Silbert though feels we need to get back to having fun and making a dent in the universe. He posted a letter via Twitter here as an update: https://lnkd.in/defQFCXm After being silent he has been posting a series of threads of important tweets

😭 Seeking Alpha has reported that Blockchain.com is said to shed 28% of staff as the crypto market downturn persists. They are currently laying off 28% of its headcount (110 staff) This is the 2nd round of job cuts. Article here https://lnkd.in/dwSqhdFc

🔥 UAE news: (See slides) ⚡ Abu Dhabi-based VENOM FOUNDATION INC launches $1B fund for Web3 and blockchain ICEBERG Capital ⚡ Abu Dhabi-based digital assets association to set up Crypto Regulators Committee

For slides click here: https://tinyurl.com/42zw2de6

LinkedIn Profile: https://tinyurl.com/569zh78j

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