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Letter

Crypto vs. Regulations. Weekly Newsletter #007

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EU attacks Crypto with regulations, while Grayscale returns the favor by suing the SEC in the States.

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Letter
One Button Capital
July 4, 2022
Jul 4

Welcome,

Crypto continues to suffer as more companies get into trouble, and regulations are breathing down the neck of leading institutions.

Experts predict that the volatility will go up tomorrow, after the US investors are back from their Independence Day break.

Here is the current state of the market, and what we can expect during July.

Market update

Bitcoin (BTC) is currently trading at $19,698, really challenging the psychological level of $20,000. The average 7D change of the top 10 crypto assets is -5.68%.

The biggest loser in the list is Solana with a drop of -10.80%. Close at second place is XRP with a loss of -8.57%. Despite its troubles, Tether remains stable around $1.00.

Data from Jul 04, 2022, at 16:30 UTC via Messari.io.

Latest news:

More Hedge Funds Are Betting Against Tether as Crypto Melts Down

Professional investors got interested in shorting tether after the collapse of another stablecoin, TerraUSD. Paolo Ardoino, CTO of Tether, confirmed rumors that hedge funds have launched a coordinated attack against the Tether stablecoin.

Genesis Global Trading also disclosed that hedge fund clients have utilized its services to execute short trades on Tether worth hundreds of millions of dollars. However, the stablecoin is still tightly pegged to the dollar.

The European Union Surges To Regulate Crypto

The European Commission, EU lawmakers and member states hammered out an agreement on reforms Thursday. The new law, known as Markets in Crypto-Assets (MiCA), is the first attempt at creating a comprehensive regulatory framework for digital assets in the region.

The landmark law is designed to make life tougher for numerous players in the crypto market, including exchanges and issuers of so-called stablecoins, tokens that are meant to be pegged to existing assets like the U.S. dollar.

Transfers between exchanges and so-called “un-hosted wallets” owned by individuals will need to be reported if the amount tops the 1,000-euro threshold, a contentious issue for crypto enthusiasts who often trade digital currencies for privacy reasons.

Grayscale Sues SEC After Rejection of Bid to Turn the Largest Bitcoin Fund Into an ETF

Grayscale, which manages the largest bitcoin fund in the world, announced that it would sue the U.S. Securities and Exchange Commission after regulators denied its request to convert the investment vehicle into an ETF.

The SEC denied Grayscale’s application for a spot bitcoin exchange-traded fund, citing the investment manager’s failure to address market manipulation concerns.

Other news

Our research

Read our 37-page May 2022 Report by downloading the paper from here.

Other articles

Web3 and DeFi Trends In 2022

Can Bitcoin Solve The Money Problem?

AI Response To The Terra (LUNA) Meltdown

Should You Invest In Funds In 2022?

One Button performance

Aggregated return of OB Capital vs. BTC and ETH

The performance of all trading strategies currently active at One Button Capital exceeded the returns from Bitcoin (BTC) and Ethereum (ETH) by a mile in the last 30 days (>25%).

Notice that the performance in the last week is +0.84%, but if we take out the results of the Clipper AI strategy (trading at -6.64%), the average weekly ROI would be +2.71%.

Source: One Button Capital Stats

Top trading strategy

OG One Button members will appreciate this duel between the two Performer AI Strategies. They seem to have performed very closely in the last week with ~+4.50% ROI each.

While Astral pushes Horizon out from the top 3, it is notable to mention that the Horizon AI is currently at +20.66% average gain in the last 30 days… during Crypto’s worst month.

Source: One Button Capital Stats

Top-performing market pairs

The best strategy in the last 7 days is CRV: USDT with a +7.46% ROI, followed closely by SNX: EUR with +6.89%. Last week’s leader ATOM, this times is placed third with a USDC pairing and +6.48% gain.

Source: One Button Capital Stats

Product updates

  • June 29, 2022
    - New email reminder functionality for account activation expiration
    - Added support for removing a payment method after a subscription is canceled
    - Resolved issue with missing the latest candlestick on the “trades” chart of a bot
  • June 28, 2022
    - Changed error handling on exchange connection form to toasts and more comprehensive error messages
  • June 27, 2022
    - Resolved issue with Sortino calculation on the public statistics

Final word

It may be July, but the crypto winter is far from over. According to some analysts, this will be the market’s most difficult month this year. True or not, we will continue to rely on our AI to handle the job regardless of where prices are headed.

Read our June Report, which we will send you later this week, to learn more about the technology behind One Button Capital, and why it’s been a treasure to our investors during this bear market.

Stay safe and until next Monday,

Max Yampolsky,
CEO at One Button Capital
ir@onebutton.capital

DISCLAIMER:
This is not financial advice. This newsletter is strictly educational and does not provide investment advice, solicit the purchase or sale of any assets, or encourage readers to make financial decisions. Please use caution and conduct independent research.

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