In today’s briefing:
- Defending the Gold Premium
- The Winners and Losers in a Post-FTX World
Defending the Gold Premium
- When you look around the world for a big, liquid, globally accepted safe haven, there is only one, and that is gold, which continues to reassert its status as the asset of last resort.
- Pre-1970, in the days of the gold standard, gold formally enjoyed this role.
- Today, after a 50-year break, the free market is putting gold back onto the pedestal where it belongs.
The Winners and Losers in a Post-FTX World
- The aftershocks of the FTX fraud continue to ripple through crypto, with entities such as Genesis Trading and the FTX-owned exchange Liquid halting withdrawals over the last couple of days.
- It’s likely that it will take months or years to determine who the real winners and losers of the biggest scandal in crypto history will be, but there are some interesting market dynamics to be aware of in the immediate aftermath of the collapse of FTX.
- Using Kaiko’s CeFi and DeFi data, we have identified some important trends that give an indication as to who may stand to win and lose in the future.
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