📢 Weekly Market Update 26-Aug-22 📢

:rocket: FTX saw a tremendous growth last year, driven by its trading business according to leaked audited financial seen by CNBC. The revenue grew more than 1,000% from $89m to $1.02bn.

:currency_exchange: Options data show that investors are willing to pay a premium for protection against downside on Bitcoin. Investors are waiting for Jerome Powell’s speech today at Jackson Hole. According to Paradigm, some traders anticipate the FED Chairman’s speech to be less hawkish than the recent sell-off would suggest.

:ninja: ~$0.8m were taken from the NFT exchange SudoRare 6 hours after launch in apparent rug pull.

:scales: Crypto exchange Coinbase faces a new class action lawsuit filled in a federal court in Georgia alleging that it failed to secure users’ account against theft and hacks. The plaintiffs are seeking damages of $5m.

:computer: Alameda Co-CEO Sam Trabucco is stepping down explaining that he has chosen “to prioritize other things”. Caroline Ellison, the Co-CEO, will lead the company while Trabucco will serve as an adviser.

:lower_left_paintbrush: Today in 1920, the 19th Amendment to the US Constitution was officially ratified, giving women the right to vote.

:date: Jerome Powell’s Speed (Today); CB consumer confidence for US (30-Aug); inflation data for Germany (30-Aug), France/EU/Italy (31-Aug); manufacturing PMI for China (31-Aug), US (01-Sep); employment data for Germany (31-Aug), US (02-Sep)