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Bitcoin and the Inflation Debate
To understand how we arrived at the global inflation scenario we find ourselves in, a historical review of how we arrived at the current monetary policy and system, as well as the conceptual underpinnings that support the idea of good money, is imperative.
The Petrodollar system (and the fiat system, in general) and current monetary policies are unsustainable and there must be changes. Indeed, we believe that the dynamics of trade and around the dollar are changing. Therefore, we evaluate bitcoin's potential as a store of value to raise the possibility that it could become a medium of exchange.
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Credit Suisse custodied US$ 31M in client Digital Assets in the latest quarter
Credit Suisse reported to regulators about US$ 32M in Digital Assets held in custody for clients in the second quarter of 2022. The Swiss bank did not detail which Digital Assets they were, nor had it reported them for the first quarter.
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BlackRock to use CF Benchmark index for bitcoin fund
The world's largest asset manager, BlackRock, will use Kraken subsidiary CF Benchmark's bitcoin price index to price its private bitcoin exposure fund for U.S. institutional clients.
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CME launches euro-denominated BTC and ETH futures
Derivatives giant CME Group opened its offering of euro-denominated bitcoin and ether (Ethereum token) futures contracts, which will be cash-settled and based on the CME CF Bitcoin-Euro and Ether-Euro benchmark rates.
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State Street would begin offering custody of Digital Assets by the end of 2022
State Street's digitization arm, a firm with more than US$42T in assets under custody, is working on its Digital Asset custody and traditional equity tokenization services, the first of which could be ready by the end of 2022.
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Central Bank of Brazil selects Itaú bank to develop DeFi project
As part of its innovation lab, the Central Bank of Brazil chose seven technology projects, including a liquidity pool proposal for DeFi introduced by the country's largest investment bank, Itaú Unibanco.
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California Assembly approves Digital Financial Assets Law
The California State Assembly unanimously passed the Digital Financial Assets Act, which requires Digital Asset exchanges and companies to be licensed by the Department of Financial Protection and Innovation, at the risk of fines of up to US$100k per day of violation. The bill now awaits Governor Gavin Newsom's decision.
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President of Paraguay objects to Digital Assets law
Mario Abdo Benítez, President of Paraguay, "totally objected" to the bill focused on Digital Asset mining that had been approved by Congress in July. The cause behind the veto was the high energy consumption and the "scarce" labor required for the industry.
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Fed says its instant payment system to be ready between May and July 2023
U.S. Federal Reserve Vice Chair Lael Brainard assured that FedNow, the instant payment system that promises 24/7 access to payment services to financial institutions of any size, will be available between May and July 2023.
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Iran introduces law allowing payment of imports with Digital Assets
Iranian businesses will be able to pay for their imports using Digital Assets, following an agreement between the Ministry of Industry and the Central Bank of Iran, a process that would be regulated in a legislative proposal introduced by the country's administration.
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El Salvador's Bitcoin Bonds are postponed once again
The launch of El Salvador's so-called volcanic bonds, announced in November 2021, has been postponed again due to lack of investor interest and legislative delay, Paolo Ardoino, CTO of Bitfinex, the exchange where the bonds would be traded, told Fortune.
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SEC and CFTC ask for comments on the integration of Digital Assets into Hedge Fund reports
The Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) are requesting assistance in establishing a regime for Hedge Funds to report their exposure to Digital Assets.
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Solidus Capital is the leading firm in Digital Assets, which provides exclusive, agnostic, and institutional services such as Liquidity, Custody Solutions, Wealth (Private Accounts and Portfolio Management), Multi-Strategy Funds, Private Placements, and other sophisticated products in conjunction with bespoke accompaniment to High Net Worth Individuals, Family Offices, Companies, Wealth Managers and Banks.
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By relying on Solidus' services, investors avoid the classic fatal mistakes:
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- Lacking information in the context and moments of the market
- Executing operations inefficiently
- Using unreliable service providers and infrastructure
- Closing of accounts and freezing of funds
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Disclaimer
You have received this message because your email address is on our list of subscribers and/or because you are a client of the firm. If you have received this message in error or if you do not want to receive more opportunities and/or emails like this, please click on the following link: unsubscribe. Copying, forwarding, or disclosing the content of this message to third parties without the consent of Solidus is prohibited. This communication has been prepared for informational purposes only. This does not constitute an offer or recommendation to buy or sell any particular security, asset or instrument or to adopt any investment strategy. This is not advice, solicitation, or opinion regarding any transaction. This bulletin does not represent value judgments with respect to any financial instrument, issuer, security or sector that may be described or referenced in this document and does not represent the views of Solidus Capital and/or its affiliates (collectively Solidus Group). Recipients of this newsletter should not construe its content, or any prior or subsequent communication from or with Solidus Group or its representatives as investment, legal or tax advice. Although this material has been prepared using public and private sources believed to be reliable, Solidus Group makes no warranties or representations regarding the accuracy or completeness of the information set forth herein. Investing in digital assets is a high risk investment. Digital assets are subject to limited liquidity and price volatility. The digital asset industry (cryptocurrencies and digital tokens) is not as regulated as many other mature financial industries, making it an unprotected space with no deposit protection insurance coverage. The future performance of digital assets is unpredictable and their past performance is not a guide to accurate forecasting, nor is it a reliable indicator of future results. The content of this document, the trademarks “Solidus Advisors”, “Solidus OTC”, “Solidus Capital” and their legal subsidiaries are the property of Solidus Holding Company, Solidus Group Ltd. By accepting this communication in its entirety, the recipient acknowledges their understanding and acceptance of the terms established herein.
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