πŸ“’ Weekly Market Update 29-July-22 πŸ“’

πŸ‡ΊπŸ‡Έ The FED hiked interest rates by 75bps as expected. Chairman Powell appeared “dovish” saying that there will be a point where the FED will slow hikes in order to assess their impact on the economy which bolstered confidence and renewed interest in risk assets.

πŸ’± Paradigm saw large ETH call flies printing with a strike range of 2800 to 5500 on the Dec expiry. The 3000 call has almost double the open interest of any other ETH strike (~300k out of the ~360k OI in the Dec maturity) according to their trading team.   

πŸ₯· Attacker stole ~$1.1m after a successful governance attack on the Audius music platform while ~4.5m were taken from the Teddy Doge project in apparent rug pull.  

πŸ’° VC firm Variant has raised $450m to invest in web3 | Crypto Lender CKST announced it has successfully closed their seed funding round | Unstoppable Domains has raised $65m reaching the ‘unicorn’ status with a $1 valuation.

🚨 The US Treasury Department is investigating Crypto Exchange Kraken over the possible violation of sanctions allowing users in Iran to trade digital assets.

πŸ’» Etherum: the Goerli/Prater testnet deployment should occur next week. It is the last step before the transition to the much anticipated PoS.

πŸ‘‘ Today in 1830, Liberals led by the Marquis de Lafayette seized Paris in opposition to the king’s restrictions on citizens’ rights.

πŸ“…Β NBS manufacturing PMI in China (31-July), ISM manufacturing PMI in the US (01-Aug), ISM non-manufacturing PMI in the US (03-Aug) and BoE Interest Rate Decision (04-Aug).