What's happening in the market?

This week is off to an interesting start! Bitcoin is back above $27K. Essentially, we are starting the new week with optimism with the first green weekly candle in over a month – is this a sign of good things to come?

• In Asia: Hong Kong police have received 1,408 complaints regarding JPEX, involving a total of $128 million. Long story short, JPEX has suspended trading activities, the Hong Kong Securities and Futures Commission (SFC) is looking into the matter, and one person has been arrested. 
• Still on exchanges: the recent court-approved plan to liquidate FTX's assets, valued at over $3 billion, will likely put pressure on altcoins over the next six months. To mitigate price impact, FTX plans gradual weekly sales of up to $100 million (potentially $200 million). 
• In the U.S.: Senator Elizabeth Warren's cryptocurrency bill is gaining momentum, as a statement from her office confirms the support of nine U.S. senators. In case you've forgotten, Warren reintroduced the current version of the bill in an attempt to build a regulatory framework for cracking down on noncustodial digital wallets. The bill also provides coverage on AML compliance and unlocking the so-called $50 billion crypto tax.
• On security: the Lazarus Group, infamous for its reign of terror, has been linked to a $70M theft on CoinEx. This theft is a small footnote in the events of the last week. Still, it raises concerns about vulnerability to "state-sponsored" exploits or attacks from well-resourced and funded groups as crypto continues to go mainstream.

Disclaimer: This is not financial or investment advice. Any capital-related decisions you make are your full responsibility and yours only.

Macro update

The Fed will meet on Wednesday and announce how they plan to proceed in the seemingly endless battle to control inflation. 

We will provide updates on the day!

Stay tuned.

What does all this mean for you? 🤔

If you have large DOGE, TRX, and MATIC positions  – this is the point where we yell, "Brace for impact." Stay vigilant and monitor FTX's liquidation closely for potential opportunities or risks if you are into altcoins.

In the emerging crypto ecosystem of Hong Kong, events like JPEX closing shop may create regulatory hurdles that could slow down progress in the region. You should assess your exposure to platforms like JPEX. You should also consider diversifying your investments to mitigate potential risks associated with specific exchanges. 

On the regulatory front, keep a close eye on developments around the crypto bill in the U.S. While other countries' crypto regulations are independent of the U.S. position,  that bill, especially with its tax angle, could set a pace for others to emulate. 

Cryptonary's got you covered

We have some things lined up this week to help you make sense of the current state of the market and position your trading and investment portfolios to come out on top.  

• Today: We publish a weekly analysis that provides context to Bitcoin's surprise rebound in September. Is this the start of good things to come?
• Tuesday: A special report on how to earn and maximise yield with stables drops on Tuesday. If you've rotated funds out of altcoins into stables in response to the uncertainty of the last few weeks, this one will make you happy! 
• Wednesday: Listening to the community, we are deep-diving into Synapse (SYN). What's the latest on the project? Where is it headed? Should SYN have a spot in your portfolio? We answered all these and more.
• Later in the week, We introduce you to some changes in our Smart Money series. What qualifies a wallet to be profiled in the Smart Money series? What insights can we draw from the Smart Money moves?
• And then, there's an update coming up on the Polkadot ecosystem. However, we aren't letting the cat out of the bag. 🤐 You'll have to check back in for updates.