Weekly Newsletter #9

Newsletter #9

GM/GN, boooolll market vibez? Hopefully all is well. Grab your Joes ☕️ and milk 🥛, and let’s get to this week's news! 👇

TOPICS OF THE WEEK

Fak it - ALL IN!

• Market Analysis

• News of the Week

• Other Headlines

• 🤑 Funding 🤑

• Meme of the Week

DATA YOU SHOULD CARE ABOUT

Another .25 Hike!

Printing trillions of dollars + rate hikes - wonder where we'll go from here! Expecting a few more hikes from Papa Powell and rate cuts afterward. However, it does seem like the soft landing is not coming; the printing and the hiking together…

Arbitrum Airdrop is here.

Arbitrum daily transactions hit an ATH before the airdrop and recorded 2.7 million txs during the drop! While gas prices skyrocketed to a few dollars, the transaction fees are still much cheaper than what we would have gotten if we used an L1. 

Caught em bears in their underwear!

Bitcoin jumped by 17.5% from March 16th to March 22nd, catching many bears betting options under $26,000 off-guard.

NEWS OF THE WEEK

What TradFi can learn from Crypto

The recent failure of Silicon Valley Bank, Credit Suisse, and Signature Bank has shown that traditional banking is not immune to fast deposit runs. 

If there’s one thing we learned from 2008, we should NOT trust the fragile banking system. In the past, banks have been confident that customer deposits are "sticky" and that withdrawals are unlikely to occur quickly, allowing them to lend money to credit card users, mortgage borrowers, car buyers, and real-estate developers. 

However, the recent trend of quick withdrawals has alarmed regulators and industry executives, and the rise of social media has made it easier for these runs to occur. 

With the advent of ultra-fast-moving deposits, the whole industry may change forever. It would only take a few clicks and seconds for a transaction from one bank account to another to happen, making it easier for customers to jump ship when anxiety arises. Confidence in the traditional banking system is now fragile, and as more investors turn to bitcoin as an insurance asset, it may encourage banks to improve their stability.

Not to mention, what would happen if the government failed? We’ve seen many past examples of this, and the bag holders always end up being retail. More users will gain confidence in crypto once prices become more stabilized.

Oh yeah! We started our own podcast! If you're interested in hearing us talk about everything Web3 - join us every Wednesday!

OTHER HEADLINES

• Visa’s Taking on Making Ethereum Wallets Smarter and Streamlined

• Biden’s Economic Report Says Many Digital Assets ‘have no fundamental value’

• Sony Files Patent for NFT Transfers Between Games and Consoles

• Former White House Adviser: it’s ‘Critical’ Crypto Innovation Stays in US

• New York Community Bancorp Takes Over Signature Bank

• This Crisis Can Change Crypto’s Role

• Is Do Kown gonna get arrested? (CT)

• Hong Kong Positions Itself as Web3 Leader as Crypto Firms Flock

$FUNDING$

• Radix Tokens Raises $10M Ahead of Introducing Smart Contract Capability (CD)

• European Crypto Startups Raised Record $5.7B in VC Funding in 2022 (CD)

• 'Alternative Internet' Builder Tomi Raises $40M to Attract Content Creators (CD)

• A16z Leads $40M Funding Round for CCP Games (CD)

MEME OF THE WEEK

Wen bull market?

Aand that wraps it up for our newsletter! Hope you enjoyed the news, memes and analysis. See you next week!

For more, follow our Twitter (@runthechain)

DISCLAIMER: None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research.