Macro uncertainty and stablecoin implosion – the perfect storm

Week 18, 2022

Highlights from the last week

Market Update

• The bitcoin price has fallen 17% over the last seven days in a chaotic combination of interest rate hikes and balance sheet normalization from the Fed accompanied by idiosyncratic crypto-related uncertainties emerging from the de-pegging of UST. (Read article)

• UST’s dollar peg is being challenged, hitting lows of…