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View this email in your browser CHART OF THE DAYThe largest stablecoin by circulating supply, Tether, has seen increasing use on Tron over the past three years.  Source: Twitter – Valkyrie, January 2023DIGITAL ASSETSBitcoin options volume on Deribit rose to $4.25 billion last week, the highest since FTX went bust in November. The increase, driven by an uptick in demand for call options, marks a 375% rise from the low of $895 million registered in the final week of December. Source: Amberdata, January 2023Blockstream has raised $125 million to expand their institutional bitcoin mining services. Blockstream CEO, Dr. Adam Back, stated that “With 2022 being punctuated by multiple large scale centralized party and protocol failures, we believe this has been a learning experience for the market: that the fundamental value of blockchains is in reducing the need to trust third parties.”The CEO of Visa said the firm continues to explore opportunities in crypto, despite a difficult 2022. Visa already has several global partnerships with crypto companies that support customers with the ability to purchase digital assets and exchange stablecoins for fiat.WHAT TO KNOWEmployers are cutting temporary workers at a high rate, suggesting broader job losses could be on the horizon. In the last five months of 2022, employers cut 110,800 temp workers, including 35,000 in December, the largest monthly drop since early 2021. Source: WSJ, January 2023The hedge fund industry lost about $125 billion worth of assets in 2022 due to performance losses. Investors reconsidered allocating into hedge funds, leading to a net outflow of $55 billion in assets, making it the largest capital flight from the industry since 2016. Source: Reuters, January 2023SubscribeUpcoming SMA WebinarWe invite you to join our SMA Webinar on Wednesday, February 15 at 1 pm EST. Our investment team will walk through the product suite and portfolio integration, with a Q&A session to follow.Register HerePast performance is not indicative of future results. Investments may be speculative, illiquid and there is a risk of total loss. There is no guarantee that any specific outcome will be achieved. This is not an offer to buy or sell securities. We do not offer legal, tax or financial advice. Information is purported to be as of the time period provided therein. Charts/graphs are for illustrative purposes only.Cautionary Statement Concerning Forward-Looking Statements:This document contains forward-looking statements. In addition, from time to time, we or our representatives may make forward-looking statements orally or in writing. We base these forward-looking statements on our expectations and projections about future events, which we derive from the information currently available to us. Such forward-looking statements relate to future events or our future performance, including: our financial performance and projections; our growth in revenue and earnings; and our business prospects and opportunities. You can identify forward-looking statements by those that are not historical in nature, particularly those that use terminology such as “may,” “should,” “expects,” “anticipates,” “contemplates,” “estimates,” “believes,” “plans,” “projected,” “predicts,” “potential,” or “hopes” or the negative of these or similar terms. In evaluating these forward-looking statements, you should consider various factors, including: our ability to change the direction of the Company; our ability to keep pace with new technology and changing market needs; and the competitive environment of our business. These and other factors may cause our actual results to differ materially from any forward-looking statement. Forward-looking statements are only predictions. The forward-looking events discussed in this document and other statements made from time to time by us or our representatives, may not occur, and actual events and results may differ materially and are subject to risks, uncertainties and assumptions about us. We are not obligated to publicly update or revise any forward-looking statement, whether as a result of uncertainties and assumptions, the forward-looking events discussed in this document and other statements made from time to time by us or our representatives might not occur.Valkyrie Investments, 320 Seven Springs Way, Suite 250, Brentwood, Tennessee 37027, United StatesUnsubscribeManage preferences |
