The R Roundup: Amazon X Avalance — Issue #71
With blockchain technology beginning to affirm its widescale utility amongst the tech giants, it was announced this week that Amazon Web Services (AWS) would partner with Ava Labs, the founding team of Avalanche.
The core principle of the partnership is to assist in extending the scope of blockchain tech adoption across governments, institutions and enterprises. This aims to make it easier for individuals to launch nodes on Avalanche. AWS is also set to involve dApps within their ecosystem as well as the overall infrastructure of Avalanche.
Howard Wright, the global head of startups at AWS, added the following statement:
“Looking forward, Web3 and blockchain are inevitable. No one can call the time or date or quarter that it’s going to happen and it’ll be mainstream, but we’ve seen the cycles of growth before. The velocity of this one seems like it’s accelerating, and we’re just excited to be a part of this,” Howard Wright, VP of AWS.
Return Of The Bull?🐂
Sentiment in crypto can often change quicker than a light switch and after months with no signs of relief, has this slight price action reminded everyone crypto was never dead?
The unexpected rallies always leave most people switching their stance on the markets. The week opened at around the $17k range after opening the year just above $16.5k.
As momentum continued, we saw $BTC spike to as high as $21k, followed by a return to equilibrium, consolidating at around $20k. This move inevitably led to many bulls feeling validated and many bears across the markets reassessing their bias.
It isn’t easy to eye precisely when the market moves, leaving people in that middle area where they aren’t sure how to facilitate based on the new information presented. The macro-environment hasn’t seemed to cool off despite the reduction in inflation.
We will wait and see how the next weeks/months follow through…
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FTX Pre-Mortem? WTF At This Point?🤯
In what seems like a narcissistic approach from SBF & FTX to remind the market of his blunder, SBF published from his substack what he called an “FTX Pre-Mortem”.
In the pre-mortem, he provides a step to step explanation for the 3 components he believes led to the “implosion” of FTX; however, the main blog post is regarding the (in)solvency of FTX International and NOT FTX US, which he claims to be still fully solvent as it “always has been”.
SBF provides documents which reference the FTX balance sheets as well as his view that:
“It’s ridiculous that FTX US users haven’t been made whole and gotten their funds back yet”, SBF, EX-FTX CEO
SBF maintains his deviant nature through the report with numerous digs at Binance CEO, CZ, for his involvement in the entire collapse.
The entire FTX story has been a maze to cover and has dominated our issues for weeks, but it’s essential to remember. At the same time, some topics may become tedious; it’s imperative to keep them at the forefront of your market psychology to avoid being blind-sighted by the potential contagion.
You can read the full blog post here👇
Gemini V Genesis: Crypto Fraud Wars🥊
The crypto fraud wars continue with an open letter released by Gemini co-founder Cameron Winklevoss claiming that lender Genesis defrauded Gemini and their 340,000 users. With this still being a knock-on effect of FTX and 3AC, the letter was addressed and issued to the Digital Currency Group.
The founder claimed that their users were misguided and that there were attempts to conspire false statements that misrepresented Gemini.
Full details of how Gemini claimed to be defrauded can be found in the open letter👇
As a reminder, this is not a trading signal or investment advice; it is an opinion, and each trader/investor should know and understand the risks of trading cryptocurrencies. This should not be regarded as financial advice; feel free to familiarise yourself with our NFA disclaimer.
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